auction rules - Terms and Conditions
of Sale
These Terms and Conditions of Sale ("Terms") govern the contractual relationship between THEFOURTH LIVING AUCTIONS Pty Ltd ("THEFOURTH"), the seller ("Seller"), and the purchaser or bidder ("Buyer") with respect to any item, lot, or property ("Lot") sold or offered for sale through timed auction or private treaty by THEFOURTH. By registering and bidding, all participants agree to be bound by these Terms. These Terms incorporate and comply with the provisions of the Consumer Protection Act 68 of 2008 ("CPA") and the Financial Intelligence Centre Act 38 of 2001 ("FICA"), and shall apply to all timed auctions conducted by THEFOURTH.
1. Definitions
1.1 "Auction" means any public sale or private treaty by competitive bidding conducted by THEFOURTH.
1.2 "Reseller" refers to any person appointed by THEFOURTH to direct or manage an auction.
1.3 "Bidder" means any person who submits or considers submitting a bid at an auction.
1.4 "Buyer" means the highest approved bidder accepted by THEFOURTH, or where applicable, the party to whom THEFOURTH assigns the successful purchase.
1.5 "Buyer’s Premium" means the commission payable by the Buyer over and above the Hammer Price.
1.6 "Hammer Price" means the final price accepted by THEFOURTH, excluding any premiums or charges.
1.7 "Lot" means any item or group of items offered for sale.
1.8 "Purchase Price" means the Hammer Price, plus Buyer’s Premium, and any applicable fees.
1.9 "Voetstoots" means that items are sold as-is, with no warranties unless explicitly stated otherwise.
1.10 "Reserve" means the confidential minimum Hammer Price agreed in writing between THEFOURTH and the Seller.
1.11 "Platform" refers to any website or mobile application used by THEFOURTH or third-party service providers to facilitate bidding or auction participation.
2.1 All prospective Bidders must register before bidding. Registration requires valid identification and proof of address (FICA compliance).
2.2 By registering and participating in an auction, the Bidder confirms acceptance of these Terms.
2.3 THEFOURTH reserves the right to accept or decline any Bidder registration at its discretion.
2.4 In the case of equal bids (such as timed vs. absentee), the earlier received bid will take precedence.
2.5 Any person bidding on behalf of another must submit a written authority signed by both parties. The agent and principal will be jointly and severally liable.
2.6 THEFOURTH does not accept telephone bids under any circumstances.
3.1 All Lots are sold "voetstoots" unless expressly stated otherwise. Buyers must inspect Lots and rely on their own judgment.
3.2 Condition Reports may be requested in advance and are provided as a service only.
3.3 Absence of damage from a description does not imply perfect condition. No guarantees or warranties (express or implied) are made regarding the condition, authenticity or provenance.
3.4 Risk passes to the Buyer upon the close of the timed auction. Buyers are advised to insure their purchases immediately.
3.5 Buyers are responsible for any applicable permits or licenses required for importing or exporting purchased Lots. THEFOURTH accepts no liability for delays or failures caused by customs regulations or CITES restrictions.
4.1 THEFOURTH has full discretion to:
Accept, reject, or withdraw any bid; Determine bid increments; Re-open bidding in case of dispute.
4.2 THEFOURTH’s decision is final and binding.
4.3 Bidding constitutes a legally binding offer. Once the timed auction closes and the reserve (if any) is met, the sale is concluded and enforceable.
4.4 Any manipulation of bidding, including collusion, shill bidding or false representation, is prohibited under Section 45 of the CPA.
5.1 Invoices are issued the first business day following the auction.
5.2 Payment is due in full within 72 hours of invoicing via EFT. No card or cash payments will be accepted.
5.3 The Buyer’s Premium is 15%, calculated on the Hammer Price. THEFOURTH does not currently charge VAT.
5.4 Ownership of the Lot transfers only once full payment is received in cleared funds.
5.5 Collection must occur within 7 calendar days. Goods not collected may incur storage fees and may be resold to recover costs.
5.6 THEFOURTH is not liable for damage or loss after the sale.
THEFOURTH offers basic packing solutions as a courtesy but does not guarantee protection beyond standard materials. Transport arrangements are the responsibility of the Buyer.
6.1 In cases of non-payment or breach, THEFOURTH may:
7.1 Sellers warrant that they are the lawful owners of the Lots consigned, free of encumbrance or third-party claim. The Seller further warrants that, to the best of their knowledge, the Lot has not been acquired in contravention of any law, including but not limited to heritage, cultural property, or wildlife trade legislation. Should it later be discovered that the Seller has unknowingly contravened this clause, THEFOURTH reserves the right to cooperate with the relevant authorities, and the Seller shall indemnify THEFOURTH against any liability, loss or expense arising from such contravention, including the withdrawal, forfeiture, or seizure of the Lot by any competent authority.
7.2 THEFOURTH may deduct all commissions and costs from the sale proceeds before remitting payment.
7.3 Payment to Sellers will be made within 30 days of the auction or 7 days after receipt of full Buyer payment, whichever is later.
7.4 Unsold Lots must be collected within 7 days or otherwise agreed in writing. If not collected within 30 days, THEFOURTH may resell, store, or dispose of the item at its discretion.
8.1 THEFOURTH is not responsible for errors, technical malfunctions, or downtime experienced on third-party bidding platforms.
8.2 By using a third-party application, you acknowledge THEFOURTH is not the publisher or host and disclaims all liability related to service failures, intellectual property, or content control.
8.3 All users are prohibited from engaging in abusive, illegal, or fraudulent behavior on bidding platforms. Violators may be permanently banned and subject to legal action.
9.1 All catalogues, images, descriptions and related content are the intellectual property of THEFOURTH and may not be used or reproduced without written permission.
10.1 THEFOURTH does not warrant that any Lot is fit for purpose, safe, or free from defect.
10.2 THEFOURTH shall not be liable for any indirect, incidental, consequential or special damages.
10.3 The Buyer agrees to indemnify THEFOURTH from any claim arising out of the resale, use or transport of any Lot.
10.4 Buyers and Sellers agree that THEFOURTH is not a party to any dispute between them outside the performance of its duties as Reseller or Agent.
11.1 By registering for any auction, you agree to receive marketing communications from THEFOURTH. You may opt out at any time.
11.2 All personal data is collected and stored in accordance with the Protection of Personal Information Act 4 of 2013 ("POPIA").
12.1 These Terms are governed by the laws of South Africa.
12.2 THEFOURTH may revise these Terms at any time and without prior notice. The latest version will always apply.
12.3 If any provision of these Terms is held invalid, the remaining provisions shall continue in full force.
12.4 These Terms constitute the full agreement between the parties. No verbal agreement shall override these Terms unless signed in writing by an authorised representative of THEFOURTH.
For condition reports, additional information, or legal inquiries, contact auctions@thefourth.co.za.
1. Definitions
1.1 "Auction" means any public sale or private treaty by competitive bidding conducted by THEFOURTH.
1.2 "Reseller" refers to any person appointed by THEFOURTH to direct or manage an auction.
1.3 "Bidder" means any person who submits or considers submitting a bid at an auction.
1.4 "Buyer" means the highest approved bidder accepted by THEFOURTH, or where applicable, the party to whom THEFOURTH assigns the successful purchase.
1.5 "Buyer’s Premium" means the commission payable by the Buyer over and above the Hammer Price.
1.6 "Hammer Price" means the final price accepted by THEFOURTH, excluding any premiums or charges.
1.7 "Lot" means any item or group of items offered for sale.
1.8 "Purchase Price" means the Hammer Price, plus Buyer’s Premium, and any applicable fees.
1.9 "Voetstoots" means that items are sold as-is, with no warranties unless explicitly stated otherwise.
1.10 "Reserve" means the confidential minimum Hammer Price agreed in writing between THEFOURTH and the Seller.
1.11 "Platform" refers to any website or mobile application used by THEFOURTH or third-party service providers to facilitate bidding or auction participation.
2. Participation and Registration
2.1 All prospective Bidders must register before bidding. Registration requires valid identification and proof of address (FICA compliance).
2.2 By registering and participating in an auction, the Bidder confirms acceptance of these Terms.
2.3 THEFOURTH reserves the right to accept or decline any Bidder registration at its discretion.
2.4 In the case of equal bids (such as timed vs. absentee), the earlier received bid will take precedence.
2.5 Any person bidding on behalf of another must submit a written authority signed by both parties. The agent and principal will be jointly and severally liable.
2.6 THEFOURTH does not accept telephone bids under any circumstances.
3. Conditions of Sale
3.1 All Lots are sold "voetstoots" unless expressly stated otherwise. Buyers must inspect Lots and rely on their own judgment.
3.2 Condition Reports may be requested in advance and are provided as a service only.
3.3 Absence of damage from a description does not imply perfect condition. No guarantees or warranties (express or implied) are made regarding the condition, authenticity or provenance.
3.4 Risk passes to the Buyer upon the close of the timed auction. Buyers are advised to insure their purchases immediately.
3.5 Buyers are responsible for any applicable permits or licenses required for importing or exporting purchased Lots. THEFOURTH accepts no liability for delays or failures caused by customs regulations or CITES restrictions.
4. Bidding and Conduct
4.1 THEFOURTH has full discretion to:
Accept, reject, or withdraw any bid; Determine bid increments; Re-open bidding in case of dispute.
4.2 THEFOURTH’s decision is final and binding.
4.3 Bidding constitutes a legally binding offer. Once the timed auction closes and the reserve (if any) is met, the sale is concluded and enforceable.
4.4 Any manipulation of bidding, including collusion, shill bidding or false representation, is prohibited under Section 45 of the CPA.
5. Payment and Collection
5.1 Invoices are issued the first business day following the auction.
5.2 Payment is due in full within 72 hours of invoicing via EFT. No card or cash payments will be accepted.
5.3 The Buyer’s Premium is 15%, calculated on the Hammer Price. THEFOURTH does not currently charge VAT.
5.4 Ownership of the Lot transfers only once full payment is received in cleared funds.
5.5 Collection must occur within 7 calendar days. Goods not collected may incur storage fees and may be resold to recover costs.
5.6 THEFOURTH is not liable for damage or loss after the sale.
THEFOURTH offers basic packing solutions as a courtesy but does not guarantee protection beyond standard materials. Transport arrangements are the responsibility of the Buyer.
6. Non-payment & Remedies
6.1 In cases of non-payment or breach, THEFOURTH may:
-
Cancel the sale
- Resell the Lot publicly or privately
-
Retain or resell any other property of the Buyer
-
Initiate legal proceedings
-
Recover any costs or losses from the Buyer
7. Seller Terms
7.1 Sellers warrant that they are the lawful owners of the Lots consigned, free of encumbrance or third-party claim. The Seller further warrants that, to the best of their knowledge, the Lot has not been acquired in contravention of any law, including but not limited to heritage, cultural property, or wildlife trade legislation. Should it later be discovered that the Seller has unknowingly contravened this clause, THEFOURTH reserves the right to cooperate with the relevant authorities, and the Seller shall indemnify THEFOURTH against any liability, loss or expense arising from such contravention, including the withdrawal, forfeiture, or seizure of the Lot by any competent authority.
7.2 THEFOURTH may deduct all commissions and costs from the sale proceeds before remitting payment.
7.3 Payment to Sellers will be made within 30 days of the auction or 7 days after receipt of full Buyer payment, whichever is later.
7.4 Unsold Lots must be collected within 7 days or otherwise agreed in writing. If not collected within 30 days, THEFOURTH may resell, store, or dispose of the item at its discretion.
8. Digital Platform Terms
8.1 THEFOURTH is not responsible for errors, technical malfunctions, or downtime experienced on third-party bidding platforms.
8.2 By using a third-party application, you acknowledge THEFOURTH is not the publisher or host and disclaims all liability related to service failures, intellectual property, or content control.
8.3 All users are prohibited from engaging in abusive, illegal, or fraudulent behavior on bidding platforms. Violators may be permanently banned and subject to legal action.
9. Intellectual Property
9.1 All catalogues, images, descriptions and related content are the intellectual property of THEFOURTH and may not be used or reproduced without written permission.
10. Liability & Disclaimers
10.1 THEFOURTH does not warrant that any Lot is fit for purpose, safe, or free from defect.
10.2 THEFOURTH shall not be liable for any indirect, incidental, consequential or special damages.
10.3 The Buyer agrees to indemnify THEFOURTH from any claim arising out of the resale, use or transport of any Lot.
10.4 Buyers and Sellers agree that THEFOURTH is not a party to any dispute between them outside the performance of its duties as Reseller or Agent.
11. Privacy & Communication
11.1 By registering for any auction, you agree to receive marketing communications from THEFOURTH. You may opt out at any time.
11.2 All personal data is collected and stored in accordance with the Protection of Personal Information Act 4 of 2013 ("POPIA").
12. General Provisions
12.1 These Terms are governed by the laws of South Africa.
12.2 THEFOURTH may revise these Terms at any time and without prior notice. The latest version will always apply.
12.3 If any provision of these Terms is held invalid, the remaining provisions shall continue in full force.
12.4 These Terms constitute the full agreement between the parties. No verbal agreement shall override these Terms unless signed in writing by an authorised representative of THEFOURTH.
For condition reports, additional information, or legal inquiries, contact auctions@thefourth.co.za.