Under the instructions of De Beers Sightholder GIA Loose Diamond Auction

These terms and conditions apply for all individuals attending and/or participating in room auctions. They also apply for all Absentee bidders, telephone bidders and live online bidders unless specifically covered separately under their respective headings below.

The highest bidder shall on the fall of the hammer for a particular Lot be the successful purchaser and will be deemed to have entered into a binding contract (subject to the conditions set out below) with the Auctioneer as owner of the Lot in its own right or with the Auctioneer as the duly appointed agent of the owner (as the case may be).

1. In the event of any dispute as to the bidding in respect of any Lot, the Auctioneer shall have absolute discretion to settle the dispute as sole arbitrator and his decision shall be final and binding.
    
2. The Auctioneer has a right:
   1. To refuse any bids.
   2. To advance the bidding at his absolute discretion.
   3. To place a reserve on any Lot.
   4. To bid on behalf of any prospective purchaser with or without disclosure.
   5. To place bid or bids on behalf of the owner.
   6. To withdraw any Lot for sale, for any reason whatsoever including but not limited to if the Lot is incorrectly described, is incorrectly priced or is unavailable.
   7. To require a successful purchaser to pay forthwith the whole or part of any of the purchase price.
   8. To refuse any person or persons admission to or eject them from the auction site.
   9. To forbid any party from filming, photographing and/or video recording any auction or Lots without the prior written permission of the Auctioneer.
       
3. All bidders attending the room auction will be required to complete a registration form before entering the auction room, must be 18 years or older and permitted by law to enter into a legally binding contract. There is no cost incurred to become a registered bidder. This registration form requires completion of all fields by the bidder who warrants the accuracy of all information provided. Any false or misleading information provided by the bidder when completing the registration form will not reduce any obligation the Bidder has to the Auctioneer. Photo identification will also be required when completing the registration form following which the bidder will be presented with a bidder card displaying a unique bidder number. Upon registering for the auction the Bidder does authorise the Auctioneer to utilise private and personal information obtained for the delivery of promotional material, compliance with the law, internal and administrative purposes.
    
4. Subject to 6 below, the purchaser acknowledges that the Auctioneer acts as the agent of the owner of the Lot or as the owner of the Lot in its own right and as such neither the Auctioneer in either capacity (as the case may be) or the owner of the Lot shall be responsible for any defects or faults in respect of any Lot. All Lots are open for inspections prior to sale and it is the prospective purchaser’s sole responsibility to inspect such Lots prior to the commencement of the auction.
    
5. As from the fall of the hammer all risks in relation to the Lot passes to the successful purchaser notwithstanding that the title to the Lot sold remains with the owner until such time as payment for the Lot has been made in full.
    
6. All sales are final. No refunds or exchanges will be given. Notwithstanding if within 7 days after the fall of the hammer the Auctioneer shall receive from the successful purchaser notice in writing accompanied by the written opinion of a competent expert or authority that the Lot purchased is not as described in the catalogue or as represented by the Auctioneer then the Auctioneer will within 7 days of receipt of such notification refund to the successful purchaser the full purchase price paid subject to the return of the Lot purchased in the same condition and state of repair including any certificates, packaging and other materials provided as at the time of the fall of the hammer and subject further to the Auctioneer being satisfied as to the validity of the claim.
    
7. All bids are deemed to be inclusive of GST (where applicable) or any other value added tax or goods and services tax. The successful purchaser in addition to payment of the amount of the successful bid will also be responsible for payment of a buyer’s premium of 20%. Payment is to be made by cash, Visa, MasterCard & American Express or any other payment method accepted by the Auctioneer.
    
8. Each Lot shall be paid for and removed at the expense of the successful purchaser, on the day that the sale takes place, or at the sole discretion of the Auctioneer a deposit of 20% will be accepted by the Auctioneer and must be paid by the successful purchaser on the day of sale and the balance due and owing must be paid to the Auctioneer and the Lots removed by 5.00pm within the number of days following the auction as shall be nominated by the Auctioneer. Failure of the successful purchaser to comply with this condition will be deemed a breach of the Contract whereupon the Auctioneer will be entitled to forfeit any deposit paid and to terminate the Contract. The purchaser understands that:
   1. Time shall be of the essence in respect of payment of amounts due. The purchaser shall pay interest on overdue amounts at the rate of 1.5% per month in addition to the rate prescribed by the appropriate Court having jurisdiction in relation to any claim for monies owing.
   2. If the purchaser fails to pay as herein provided, the purchaser shall remain liable for the amount of the successful bid plus the buyer’s premium referred to in 6 above and, until such payment is made in full, any deposit forfeited shall be payable by way of liquidated damages.
       
9. Upon full settlement of the Lot, purchasers may collect their purchases at the auction location on the same day as the auction, arrange to collect them from First State Auctions Head Office in Sydney or arrange to have them shipped to a destination of the purchaser's choice. For all purchases requiring shipping from Australia the purchaser shall be fully responsible for all customs clearance charges, duties, taxes and other charges in their respective countries. For all purchases requiring shipping outside of Australia with the invoice value being less than AUD 1,500, the purchase will incur an AUD 50 shipping and insurance fee.
    
10. The party named on the registration form shall be deemed to be the purchaser unless the Auctioneer is prior to the commencement of the auction provided with written evidence that the party is acting for and on behalf of a principal and shall supply the full name and address of the principal.
     
11. In this agreement:
    1. Fall of the hammer means such time as a purchaser has bid for a particular Lot and the Auctioneer has acknowledged that purchaser as being the successful purchaser at which time a binding contract subject to these terms and conditions has been entered into.
    2. Auctioneer means First State Auctions Pty Ltd ACN 083 150 298 trading as First State Auctions and any of its associated and subsidiary companies and entities or their duly appointed employees, servants and agents.
    3. Lot means any lot or lots for sale either individually or as a group at the Auctioneer’s sole discretion.
    4. Website means https://www.firststateauctions.com.au/
        
12. Each Lot in the catalogue is given a low and high auction estimate representing that range which, in the opinion of First State Auctions, represents a fair and probable auction value. When possible, the estimate is based on previous auction records of comparable property, condition, rarity & quality. The estimates are often determined several weeks before a sale and are therefore subject to change upon further research of the item, or to reflect market conditions or currency fluctuations. Estimates are subject to revision. Actual prices realised for items can fall below or above this range. An estimate of the selling price should not be relied on as a statement that this is the price at which the item will sell or its value for any other purpose.
     
13. If for any cause a purchased Lot cannot be delivered in as good condition as at the time of sale, or should any purchased Lot be stolen or mis-delivered or lost prior to delivery, First State Auctions shall not be liable for any amount in excess of that paid by the purchaser.
     
14. The purchaser agrees that these Terms and Conditions and any claim and any dispute between the Auctioneer, purchaser or any other relevant party, shall be construed by the laws of the country in which the auction takes place, unless otherwise expressly nominated by the Auctioneer in its sole discretion.
     
15. The provisions contained in each Clause of these Conditions of Sale, and any part thereof, shall be enforceable independently of the remainder of these Conditions of Sale and its validity shall not be affected if any other part is invalid to any extent.

 

If you are unable or do not wish to attend a room auction you can place an Absentee Bid via the First State Auctions Website. Absentee bidding types include telephone and maximum bids.

1. Telephone Bids

1. With this type of bid you participate in the live auction as though you were present in the auction room.
2. An experienced staff member who is at the auction will phone you a few minutes prior to your indicated Lot going up for auction and will bid on your behalf.
3. Once bidding begins, we will keep you informed as the bids progress and ask you at each stage if you wish to continue bidding. This will carry on until you are successful or tell us that you want to stop bidding.
    

2. Maximum Bids

1. With this type of bid you provide us with instructions about the maximum amount you are willing to pay for the Lot in question.
2. Your bid is left with the Auctioneer and executed on your behalf using up the amount required to "knock out" any competition during the sale and against any reserve price (if applicable).
3. This doesn’t mean that you will pay the maximum amount – If the auction activity is at a lower level on the day you may get the item for less. If room bids go above the maximum bid, then the Absentee Bid is unsuccessful.
    

3. For both Telephone and Absentee Bids

1. Your Absentee Bid includes GST but does not include the buyer's premium of 20%.
2. The latest your Absentee Bid can be submitted online is 3 hours prior to the start of the auction.
3. If the Absentee Bid form is not fully completed it will not be able to be processed.
4. Pre-authorisation of $1 will be taken to validate your credit card when you submit your Absentee Bid.
5. First State Auctions will at its sole discretion accept or reject you as an absentee bidder, or request further information from you before accepting your bids.
6. If your bid is successful, full payment will be taken from the credit card provided, and the goods will be sent out by secured & insured post within 3 working days, or can be collected from our Sydney Head Office. A member of our Customer Service Team will contact you prior to shipping for further verification and shipping confirmation.
7. If multiple Absentee Bids for the same amount are received, the bid that is received first will be given precedence.
8. Absentee Bidding is a complimentary service offered by First State Auctions, who are not obliged to act on this instruction, and cannot be held liable for any loss or damages arising from any failure to comply. 
9. First State Auctions cannot be held liable for any failure to our website which prevents an absentee bid being placed.
    

4. Absentee Bidder Responsibilities

1. Acceptance of the Auction room Conditions of Sale and any special conditions that apply to the auction where the Absentee bid is placed.
2. To make contact with First State Auctions within 24 hours of the Lot being offered or within the time limit specified by the Auctioneer.
3. To not revoke this authorisation after the Lot(s) detailed have been offered at auction.
4. Absentee bidders will not be able to amend or cancel their bids after the auction has closed for absentee bidding. Absentee bidding closes no more than 3 hours prior to the commencement of the auction.
5. To pay the Auctioneer all costs involved with the Lots(s) offered after any successful bids.
    

5. Registration of Absentee Bidders

The Absentee Bidder must accurately complete the online Absentee Bidding application form contained in the Website to be recorded as a registered bidder so as to participate in the Absentee Bidding process of a Lot by way of Auction. Any false or misleading information provided by the Absentee Bidder when completing the online application form will not reduce any obligation the Absentee Bidder has to the Auctioneer.

There is no cost incurred by the Absentee Bidder to become a registered bidder. The Auctioneer may in its absolute discretion accept or reject the Absentee Bidder’s online application. If accepted the Absentee Bidder is a registered bidder.
 

6. To Apply to Become a Registered Bidder

1. The Absentee Bidder must be 18 years or older and permitted by law to enter into a legally binding contract.
2. The Absentee Bidder must be authorised to provide the information requested in the online application form and in doing so does not breach any law relating to privacy or personal information.
3. The Absentee Bidder must provide details of an acceptable credit card with sufficient funds to make online payments and does authorise the Auctioneer to take all necessary steps to authorise the Auctioneer’s use of the credit card.
    

7. Once Becoming a Registered Bidder

1. The Absentee Bidder must ensure that all Absentee Bidder information is kept up to date. The Auctioneer will not be responsible for any loss, damage or claims for compensation arising from the Absentee Bidder’s failure to provide accurate and up to date information.
2. The Absentee Bidder will be provided with a login and password to the First State Auctions Website, which are personal to the Absentee Bidder and cannot be shared or disclosed to any other third party. The receipt by the Auctioneer of the individual Absentee Bidder’s login and password to initiate the Absentee Bid is deemed sufficient authorisation from the Absentee Bidder. In the event that there has been unauthorised use of the Absentee Bidder’s password and/or login, the Absentee Bidder will remain liable for all costs, fees, charges and other amounts which may become payable to the Auctioneer as a result of a completed Absentee Bid. The Absentee Bidder must immediately notify the Auctioneer if it becomes aware of any unauthorised use of the login and or password.
3. The Absentee Bidder has the facility to update his online bid prior to the cut off time for Absentee Bidding which is 3 hours prior to the start of the auction.
4. The Absentee Bidder can request the Auctioneer to remove him from the First State Auctions customer database. The Auctioneer can delay such request until all current obligations on the part of the Absentee Bidder are satisfied.

The Auctioneer may refuse, suspend or terminate the Absentee Bidder’s access to the Website login if the Absentee Bidder fails to comply with these terms and conditions, provides untrue incomplete or inaccurate information or is involved in false, misleading or illegal conduct.
 

8. Auction Process

1. Once the individual becomes a registered Absentee Bidder, he agrees to comply with the standard room auction Terms and Conditions that apply to the auction where the Purchaser’s bid is placed.
2. The Absentee Bidder (provided that they are a registered bidder) may make an offer to purchase a Lot offered by Auction by way of the Website by submitting an online maximum bid. An Absentee Bidder may alternatively choose to become a telephone bidder. All Absentee Bids must be placed at least 3 hours prior to the auction commencing.
3. The Website will provide the Auction date and auction particulars. An Absentee Bidder is responsible for monitoring the auction in which it is participating.
4. The Auctioneer is entitled in its sole discretion to cease Absentee Bidding before the nominated commencement time or to close bidding on a particular Lot for any reason whatsoever including but not limited to errors or delays caused to the Website.
5. The Auctioneer is entitled in its sole discretion before an auction commences or is completed, to withdraw any Lot for sale, for any reason whatsoever including but not limited to if the Lot is incorrectly described, has an incorrect auction estimate or is unavailable.
6. Each Bid is an irrevocable offer by the Absentee Bidder to purchase the Lot. A Bid can either be accepted by the Auctioneer on behalf of the vendor, refused by the Auctioneer or the Auctioneer can withdraw the Lot from the Auction sale.
7. An Absentee Bidder cannot reduce its current bid once it has been accepted by the Auctioneer.
8. With a maximum bid, if the Absentee Bidder is the highest bidder at the time the Lot is offered for auction at the room auction, the bid will be executed by the Auctioneer on the Absentee Bidder’s behalf using up the amount required to "knock out" any competition during the sale and against any reserve price (if applicable).This doesn’t mean that the Absentee Bidder will pay the maximum amount – If the auction activity is at a lower level on the day, and at or above the reserve amount, the Purchaser may win the item for less. If room, telephone or online bids go above the maximum bid then the Absentee Bidder’s bid will be unsuccessful.
9. The Absentee Bidder making the highest Bid for a Lot which equals or exceeds the reserve and which is accepted by the Auctioneer (whether by the fall of the hammer or otherwise) will be the successful Purchaser of the Lot at the price specified in the Bid plus the Buyer’s Premium of 20% plus any additional charges that the Purchaser is obliged to pay including but not limited to tax, delivery, insurance charges and credit card charges if applicable (Total Price).
10. In the event that there is a dispute in relation to the making of a Bid, or the last or highest Bid, the decision of the Auctioneer will be final and binding.
     

9. Payment

1. All Absentee Bid prices are in Australian Dollars (unless otherwise stated) and are GST inclusive.
2. At the conclusion of the Auction the successful Purchaser does authorise the Auctioneer to effect immediate payment of the Total Price by authorised credit card deduction.
3. In the event that the credit card provided for payment has a dollar limit for each individual transaction made on it the Auctioneer can process any number of transactions until the total amount owed is paid.
4. Should the credit available on the successful Purchaser’s credit card be insufficient to cover the total amount owing the Auctioneer is permitted to deduct any portion of the amount owing from the credit card in reduction of the total amount owing and call upon the successful Purchaser to effect immediate payment of and balance owing.
5. At the sole discretion of the Auctioneer the successful Purchaser can affect payment of the Total Price by an authorised credit card deduction immediately after the Auction of an amount equivalent to 20% of the Total Price (Deposit) and for the remaining 80% of the Total Price to be paid by BPay, authorised credit card, or direct deposit (telegraphic transfer deposit) by the successful Purchaser within two (2) business days of closure of the room auction. Payment is to be deposited into the bank account nominated by the Auctioneer.
6. Should the successful Purchaser refuse or be unable to pay in full for the Lot purchased, the Deposit, or the remainder of the Total Price in the event that a Deposit was paid or fail to comply with any of the terms and conditions contained herein, the Auctioneer can in its absolute discretion:

In the case where there is no Deposit paid:

1. sue the Purchaser for the Total Price of the Lot, or
2. resell the Lot (without notice to the Purchaser) and claim from the Purchaser any shortfall between the Total Price and the resale price together with all costs and charges arising from such resale;

In the case where there is a Deposit paid:

1. forfeit the Deposit paid and resell the Lot (without notice to the Purchaser) and claim from the Purchaser any shortfall between the Total Price less the deposit forfeited and the resale price together with all costs and charges arising from such resale.

1. Notwithstanding the above the Auctioneer may in its sole discretion elect not to proceed with the sale of the Lot to the Purchaser in the event that the credit card payment of a successful Purchaser is not able to be processed due to credit card errors or insufficient funds.
    

10. Delivery

1. Delivery of a Lot will be arranged by the Auctioneer to the place nominated by the successful Purchaser at the time of Absentee Bid registration. All deliveries must be made to a specified street address (not a post office box) and receipt of the Lot must be acknowledged by the signature of the successful Purchaser or their nominated agent.
2. A Lot will only be delivered once the Total Price is paid in full.
3. Once the Lot is delivered the risk in it will pass to the successful Purchaser however title to the Lot will only pass to the successful Purchaser when the Total Price is paid and cleared.

Should the Purchaser fail to accept delivery of a Lot the Auctioneer will in addition to all other remedies available to the Auctioneer be entitled to terminate the Purchaser’s access to the Website.
 

11. Return of Lots/Refusal to Accept Delivery

1. The Auctioneer warrants that all Lots sold have good title and match the description as contained in the catalogue.
2. Any Lot purchased at an online Auction cannot be returned to the Auctioneer or delivery refused by the Purchaser, for any reason whatsoever unless:
   1. the Lot is damaged during the course of delivery,
   2. the Purchaser is able to provide the written opinion of a competent expert or authority that the Lot purchased is not as described in the catalogue.
3. Upon receipt of the returned Lot, subject to the Auctioneer in its sole discretion being satisfied that the Lot has been damaged during the course of delivery or is not as described in the catalogue the Auctioneer will either repair the Lot or refund to the Purchaser all monies paid.

In the event that the Auctioneer is not satisfied that the Lot has been damaged during the course of delivery or is not as described in the catalogue the Lot will be returned to the Purchaser without any further action required to be taken by the Auctioneer or entertained by the Purchaser.

 

12. Service

The Auctioneer may at any time suspend the provision of the Absentee Bidding facility without any prior notice or warning to a Purchaser. Any suspension will render void any individual transaction occurring but not complete at the time of the suspension.
 

13. Termination

The Auctioneer may terminate the Absentee Bidder’s access to the Website at its sole discretion.

The Absentee Bidder may cease to remain a registered Absentee bidder effective upon receipt of a notice in writing to the Auctioneer, provided that such termination will not take effect until such time as all current online transactions are completed and all accrued obligations have been satisfied.
 

14. Privacy

Upon registering as an Absentee Bidder the Absentee Bidder does authorise the Auctioneer to utilise private and personal information obtained for the delivery of promotional material, compliance with the law, internal and administrative purposes.
 

15. Auctioneer’s Liability/Purchaser’s Indemnity

The Auctioneer is not responsible for and the Absentee Bidder will not make any actions, claims, demands for losses, damages, costs and expenses against the Auctioneer in relation to:

1. Bids not received, processed or accepted due to online technical difficulties of the Website
2. the non-availability of the Website
3. the capacity of the Website
4. failure to provide reasonable security of the Website
5. any illegal or inappropriate use of the Website

The Absentee Bidder does indemnify the Auctioneer against any actions, claims, demands for losses, damages, costs and expenses claimed or incurred by any person or entity arising from the Absentee Bidder’s use of the Website.
 

16. General

1. Fall of the hammer means such time as a purchaser has bid for a particular Lot and the Auctioneer has acknowledged that purchaser as being the successful purchaser at which time a binding contract subject to these terms and conditions has been entered into.
2. Auctioneer means First State Auctions Pty Ltd ACN 083 150 298 trading as First State Auctions and any of its associated and subsidiary companies and entities or their duly appointed employees, servants and agents.
3. Lot means any lot or lots for sale either individually or as a group at the Auctioneer’s sole discretion.
4. Website means https://www.firststateauctions.com.au/
5. The Auctioneer will endeavour to provide the Absentee Bidder with email notifications in relation to the status of auctions the Absentee Bidder is participating in, whether the Absentee Bidder is the successful bidder, delivery details and Lot Invoices. The Absentee Bidder will not be entitled to make a claim for loss or damage should such emails not be forthcoming.
6. The Auctioneer may vary the terms and conditions for Absentee Bidding from time to time and will make same available on the Website such varied terms and conditions to take effect from the date they are listed on the Website.

 

If you are unable or do not wish to attend a room auction you can participate in the auction via the Live Online Bidding System contained on the First State Auctions Website.

With this type of bid you participate in the live auction as though you were present in the auction room.
 

1. Use of the Website for Live Online Bidding

To place bids in the Live Online Bidding System the Purchaser must become a registered bidder. Upon becoming a registered bidder the Auctioneer is deemed to have provided the Purchaser with access to the Website and the Live Online Bidding System and the entitlement to participate in Live Online Auctions and the Purchaser is deemed to have accepted the Terms & Conditions for Live Online Bidding at a Room Auction as well as the Auction room Conditions of Sale and any special conditions that apply to the auction where the Absentee bid is placed.
 

1. Registration of Purchasers

The Purchaser must accurately complete the online application form contained in the Live Online Bidding System to be recorded as a registered bidder so as to participate in the Live Bidding process of a Lot by way of Auction. Any false or misleading information provided by the Purchaser when completing the online application form will not reduce any obligation the Purchaser has to the Auctioneer.

There is no cost incurred by the Purchaser to become a registered bidder. The Auctioneer may in its absolute discretion accept or reject the Purchaser’s online application. If accepted the Purchaser is a registered bidder.
 

1. To Apply to Become a Registered Bidder

1. The Purchaser must be 18 years or older and permitted by law to enter into a legally binding contract.
2. The Purchaser must be authorised to provide the information requested in the online application form and in doing so does not breach any law relating to privacy or personal information.
3. The Purchaser must provide details of an acceptable credit card sufficient to make online payments and does authorise the Auctioneer to take all necessary steps to pre-authorise the credit card at the time of registration and charge winning Lots to the credit card when applicable.

 

1. Once Becoming a Registered Bidder

1. The Purchaser must ensure that all Purchaser information is kept up to date. The Auctioneer will not be responsible for any loss, damage or claims for compensation arising from the Purchaser’s failure to provide accurate and up to date information.
2. The Purchaser will be provided with a login and password to the First State Auctions Live Online Bidding System, which are personal to the Purchaser and cannot be shared or disclosed to any other third party. The receipt by the Auctioneer of the individual Purchaser’s login and password to initiate the Purchaser is deemed sufficient authorisation from the Purchaser. In the event that there has been unauthorised use of the Purchaser’s password and/or login, the Purchaser will remain liable for all costs, fees, charges and other amounts which may become payable to the Auctioneer as a result of a successful live online bid. The Purchaser must immediately notify the Auctioneer if it becomes aware of any unauthorised use of the login and or password.
3. The Purchaser can request the Auctioneer to remove him from the First State Auctions Live Online Bidding System and the First State Auction customer database. The Auctioneer can delay such request until all current obligations on the part of the Purchaser are satisfied.
4. The Auctioneer may refuse, suspend or terminate the Purchaser’s access to the Website login if the Purchaser fails to comply with these terms and conditions, provides untrue incomplete or inaccurate information or is involved in false, misleading or illegal conduct.
    

1. Online Auction

1. Once the Purchaser becomes a registered bidder, he agrees to comply with the standard room auction Terms and Conditions that apply to the auction where the Purchaser’s bid is placed.
2. The Purchaser (provided that they are a registered bidder) may make an offer to purchase a Lot offered by Auction by way of the Live Online Bidding System by submitting an online Bid. This bid can be placed prior to the auction (once the live online auction has been listed on the Live Online Bidding System) or at the time when the Lot is being auctioned.
3. The Auctioneer will set a Starting Bid in relation to the Lot to be auctioned and any bid must commence at or above that minimum Starting Bid.
4. The Live Online Bidding System will provide the Auction date and auction particulars. A Purchaser is responsible for monitoring the Live Bidding Online Auction in which it is participating.
5. The Auctioneer is entitled in its sole discretion to cease a Live Bidding Online Auction before the nominated commencement time or to close bidding on a particular Lot for any reason whatsoever including but not limited to errors or delays caused to the Website.
6. The Auctioneer is entitled in its sole discretion before an Online Auction commences or is completed, to withdraw any Lot for sale, for any reason whatsoever including but not limited to if the Lot is incorrectly described, has an incorrect auction estimate or is unavailable.
7. Each Bid is an irrevocable offer by the Purchaser to purchase the Lot and cannot be cancelled.
8. A Bid can either be accepted by the Auctioneer on behalf of the vendor, refused by the Auctioneer or the Auctioneer can withdraw the Lot from the Auction sale.
9. The Live Online Bidding System allows the facility for the Purchaser to place pre-auction bids once pre-auction bidding has been opened by the Auctioneer. With a pre-auction bid, the Purchaser provides a bid reflecting the maximum amount the Purchaser is willing to pay for the Lot in question.
10. The status of the Purchaser’s pre-auction bid will be reflected in the Live Online Bidding System on the respective Lot number as to whether the Purchaser’s bid is the current highest bid or if it has been outbid.
11. As pre-auction bidding is competitive, other bidders may outbid the Purchaser’s bid. If this occurs, the Purchaser will be notified that he has been outbid. This will be reflected in the Live Online Bidding System on the respective Lot number as well as by email. If the Purchaser has been outbid, he will have the opportunity to increase his bid prior to the Lot being offered for auction at the room auction.
12. A pre-auction bid can be lowered by the bidder prior to a Lot being auctioned, however the bid cannot be lower than the Starting Bid.
13. Once the Lot is offered at the room auction, pre-auction bidding will cease.
14. If the Purchaser is the highest bidder at the time the Lot is offered for auction at the room auction, the bid will be executed by the Auctioneer on the Purchaser’s behalf using up the amount required to "knock out" any competition during the sale and against any reserve price (if applicable).
15. This doesn’t mean that the Purchaser will pay the maximum amount – If the auction activity is at a lower level on the day the Purchaser may win the item for less. If room bids go above the maximum bid then the Purchaser’s bid will be unsuccessful.
16. The Purchaser making the highest Bid for a Lot which exceeds the Reserve price and which is accepted by the Auctioneer (whether by the fall of the hammer or otherwise) will be the successful Purchaser of the Lot at the price specified in the Bid plus the Buyer’s Premium of 20% plus any additional charges that the Purchaser is obliged to pay including but not limited to tax, delivery, insurance charges and credit card charges if applicable (Total Price).
17. A Purchaser cannot reduce its current bid once it has been accepted by the Auctioneer.
18. Once the item is being auctioned, pre-auction bids and live auction bids cannot be changed.
19. All bids placed while the Lot is being auctioned will need to be according to the bid increment set by the Live Online Bidding System.
20. In the event that there are two Bids for the same amount, the earlier of the two Bids will take precedence.
21. In the event that there is a dispute in relation to the making of a Bid, or the last or highest Bid, the decision of the Auctioneer will be final and binding.
     

1. Payment

1. All Bid prices are in Australian Dollars (unless otherwise stated) and are GST inclusive.
2. At the conclusion of the Auction the successful Purchaser does authorise the Auctioneer to effect immediate payment of the Total Price by authorised credit card deduction.
3. In the event that the credit card provided for payment has a dollar limit for each individual transaction made on it the Auctioneer can process any number of transactions until the total amount owed is paid.
4. Should the credit available on the successful Purchaser’s credit card be insufficient to cover the total amount owing the Auctioneer is permitted to deduct any portion of the amount owing from the credit card in reduction of the total amount owing and call upon the successful Purchaser to effect immediate payment of and balance owing.
5. At the sole discretion of the Auctioneer the successful Purchaser can affect payment of the Total Price by an authorised credit card deduction immediately after the Auction of an amount equivalent to 20% of the Total Price (Deposit) and for the remaining 80% of the Total Price to be paid by BPay, Authorised credit card, or direct deposit (telegraphic transfer deposit) by the successful Purchaser within two (2) business days of closure of the applicable Live Online Bidding auction. Payment is to be deposited into the bank Account nominated by the Auctioneer.
6. Should the successful Purchaser refuse or be unable to pay in full for the Lot purchased, the Deposit, or the remainder of the Total Price in the event that a Deposit was paid or fail to comply with any of the terms and conditions contained herein, the Auctioneer can in its absolute discretion:

In the case where there is no Deposit paid:

1. sue the Purchaser for the Total Price of the Lot, or
2. resell the Lot (without notice to the Purchaser) and claim from the Purchaser any shortfall between the Total Price and the resale price together with all costs and charges arising from such resale;

In the case where there is a Deposit paid:

1. forfeit the Deposit paid and resell the Lot (without notice to the Purchaser) and claim from the Purchaser any shortfall between the Total Price less the deposit forfeited and the resale price together with all costs and charges arising from such resale.
    

1. Notwithstanding the above the Auctioneer may in its sole discretion elect not to proceed with the sale of the Lot to the Purchaser in the event that the credit card payment of a successful Purchaser is not able to be processed due to credit card errors or insufficient funds.
   
    

1. Delivery

1. Delivery of a Lot will be arranged by the Auctioneer to the place nominated by the successful Purchaser at the time of online registration. All deliveries must be made to a specified street address (not a post office box) and receipt of the Lot must be acknowledged by the signature of the successful Purchaser of their nominated agent. The delivery address cannot be altered after closure of the online Auction.
2. A Lot will only be delivered once the Total Price is paid in full.
3. Once the Lot is delivered the risk in it will pass to the successful Purchaser however title to the Lot will only pass to the successful Purchaser when the Total Price is paid and cleared.
4. Should the Purchaser fail to accept delivery of a Lot the Auctioneer will in addition to all other remedies available to the Auctioneer be entitled to terminate the Purchaser’s access to the Live Online Bidding System.
    

1. Return of Lots/Refusal to Accept Delivery

1. The Auctioneer warrants that all Lots sold have good title and match the description as contained in the catalogue.
2. Any Lot purchased at an online Auction cannot be returned to the Auctioneer or delivery refused by the Purchaser, for any reason whatsoever unless:
   1. the Lot is damaged during the course of delivery,
   2. the Purchaser is able to provide the written opinion of a competent expert or authority that the Lot purchased is not as described in the catalogue.
3. Upon receipt of the returned Lot, subject to the Auctioneer in its sole discretion being satisfied that the Lot has been damaged during the course of delivery or is not as described in the catalogue the Auctioneer will either repair the Lot or refund to the Purchaser all monies paid.

In the event that the Auctioneer is not satisfied that the Lot has been damaged during the course of delivery or is not as described in the catalogue the Lot will be returned to the Purchaser without any further action required to be taken by the Auctioneer or entertained by the Purchaser.

 

1. Service

The Auctioneer may at any time suspend the provision of the Live Online Bidding System without any prior notice or warning to a Purchaser. Any suspension occurring during an online Auction will render void any individual transaction occurring but not complete at the time of the suspension.
 

1. Termination

The Auctioneer may terminate the Purchaser’s access to the Live Online Bidding System at its sole discretion.

The Purchaser may cease to remain a registered bidder effective upon receipt of a notice to the Auctioneer, provided that such termination will not take effect until such time as all current online transactions are completed and all accrued obligations have been satisfied.
 

1. Privacy

Upon registering as a Bidder, a Purchaser does authorise the Auctioneer to utilise private and personal information obtained for the delivery of promotional material, compliance with the law, internal and administrative purposes.
 

1. Auctioneers Liability/Purchaser’s Indemnity

The Auctioneer is not responsible for and the Purchaser will not make any actions, claims, demands for losses, damages, costs and expenses against the Auctioneer in relation to:

1. Bids not received, processed or accepted due to online technical difficulties of the Live Online Bidding System
2. the non-availability of the Live Online Bidding System
3. the capacity of the Live Online Bidding System
4. failure to provide continuous uninterrupted Live Online Bidding
5. failure to provide reasonable security of the Live Online Bidding System
6. any illegal or inappropriate use of the Website and Live Online Bidding System

The Purchaser does indemnify the Auctioneer against any actions, claims, demands for losses, damages, costs and expenses claimed or incurred by any person or entity arising from the Purchaser’s use of the Live Online Bidding System.
 

1. General

1. Fall of the hammer means such time as a purchaser has bid for a particular Lot and the Auctioneer has acknowledged that purchaser as being the successful purchaser at which time a binding contract subject to these terms and conditions has been entered into.
2. Auctioneer means First State Auctions Pty Ltd ACN 083 150 298 trading as First State Auctions and any of its associated and subsidiary companies and entities or their duly appointed employees, servants and agents.
3. Lot means any lot or lots for sale either individually or as a group at the Auctioneer’s sole discretion.
4. Website means https://www.firststateauctions.com.au/
5. Live Online Bidding System means https://bid.firststateauctions.com.au/
6. The Auctioneer will endeavour to provide the Purchaser with email notifications in relation to the status of online Auctions the Purchaser is participating in, whether the Purchaser is the successful bidder, delivery details and Lot Invoices. The Purchaser will not be entitled to make a claim for loss or damage should such emails not be forthcoming.
7. The Auctioneer may vary the terms and conditions of the Live Online Bidding System from time to time and will make same available on the Website such varied terms and conditions to take effect from the date they are listed on the Website.

 

This section sets out the Terms and Conditions of Credit Notes issued by First State Auctions. These Terms and Conditions are applicable from the time of issue of the Credit Note until the time of expiry:  

1. Issue

1. First State Auctions Credit Notes are issued only by First State Auctions Head Office in its sole discretion.
2. First State Auctions Credit Notes are not redeemable for cash and are non-refundable.

2. Redemption

1. Amounts issued on a First State Auctions Credit Note are in Australian Dollars (AUD) or in the currency in which the original purchase was made.
2. Credit note redemption can only be redeemed in Australian Dollars (AUD) or in the currency in which the original purchase was made.
3. Goods purchased using a Credit Note are sold subject to the normal First State Auctions Terms and Conditions for goods purchased in room auctions.
4. In the event that your purchase is greater than the value of your Credit Note, First State Auctions will require you to pay the additional amount.
5. In the event that your purchase is less than the value of your Credit Note, your Credit Note will be partially allocated to your purchase. The balance of the Credit Note will continue to be available for your use but must be fully used within 12 months from the original date of issue of the Credit Note.

3. Expiry

1. All First State Auctions Credit Notes are valid for 12 months from the issue date.
2. It is the customer’s responsibility to redeem the value placed on the Credit Note within that time frame.
3. First State Auctions is unable to extend Credit Notes beyond the expiry date.

4. Security

1. The receiver of the First State Auctions Credit Note is responsible for the safety and use of the Credit Note.

 

To assist customers to understand the condition of the watch sold, all watches have been classified based on the following guide:

• New - The item is new and has not been privately owned
• As New - The item presents as new and is in very good condition. The item may or may not have been privately owned
• Pre-Owned - The item has been privately owned and/or has some signs of wear (e.g. a scratch) 

First State Auctions provides its own 3 month limited warranty on “pre-owned” and “as-new” watches purchased at FSA auctions.

For “new” watches, FSA provides its own limited warranty for the period stated in the catalogue description.

The hands, dial, and watch movement are the only components covered under the limited warranty.

This is a limited warranty and does not include:

• Ageing and wear and tear from normal use.
• Damage resulting from improper handling, negligence, accidents, tampering or incorrect use of the watch.
• Any external damage to the product.
• Change of battery.
• Any loss of stones or gems on the outer portion of the watch or watch face.
• Moisture damage to a watch not marked water resistant.
• Any damage that occurs as a result of a water resistant watch being used under conditions which exceed the watch manufacturer’s water resistance guidelines.
• Water damage caused to a water resistant watch where the crown is not screwed down.

Any modifications or 3rd party repairs will void the warranty.