The contract for the sale of the property is therefore made between the Seller and the Buyer. All bids, “hammer price”, “reserves”, “Buyers Premium” and other expressions of value are understood by all parties to be in Australian Dollars (AU$) unless otherwise specified.Įxcept as otherwise stated Donington Auctions Pty Ltd acts as agent for the Seller. “the insured value” means the amount that Donington in its absolute discretion from time to time shall consider the value for which a lot should be covered for insurance (whether or not insurance is arranged by Donington.)Īll values expressed in Donington Auctions Pty Ltd catalogues (in any format) are in Australian Dollars (AU$). Accordingly no lot shall be capable of being a forgery by reason of any damage or restoration work of any kind (Including re-painting). “Forgery” means an item constituting an imitation originally conceived and executed as a whole, with a fraudulent intention to deceive as to authorship, origin, age, period, culture or source, where the correct description as to such matters is not reflected by the description in the catalogue. “the Reserve” means the lowest amount at which Donington has agreed with the Seller that the lot can be sold. “the Buyers Premium” means the charge payable by the Buyer to the auction house as a percentage of the hammer price. “the Hammer price” means the amount of the highest bid accepted by the auctioneer in relation to a lot “the Lot” means any item depicted within the sale for auction and in particular the item or items described against any lot number in the catalogue. “the Buyer” means the person with the highest bid accepted by the Auctioneer The conditions that are listed below contain terms that are used regularly and may need explanation. Background to the Terms used in these Conditions By bidding at auction you agree to be bound by these terms.ġ. They may be amended by printed Saleroom Notices or oral announcements made before and during the sale.

They are the terms on which Donington and the Seller contract with the Buyer. The terms and conditions of sale listed here contain the policies of Donington Auctions Pty Ltd (referred to as Donington). The buyer’s premium for the Illingworth Auction is 12.5% plus GST (13.75% total inc GST).Į.g., $1,000 hammer price will incur a buyer’s premium of $125 and GST of $12.50, resulting in a total price of $1,137.50 including buyer’s premium and GST.

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