TERMS AND CONDITIONS FOR PARTICIPATION IN
AUCTION AND PURCHASE OF GOODS
1.1 The definitions in this clause apply to these Terms:
“Bid Slip” shall mean the slip or electronic form given to a potential Buyer to fill in his details prior to participating in an auction.
“Paddle” shall mean an object that displays the number assigned to registered bidders at an auction. The said number is a bidder’s unique identification number given to him after registration.
“Buyer” or “Highest Bidder” shall mean the maker of the highest bid accepted by MAIN AUCTION HOUSE on the fall of the hammer (when the Hammer Price is achieved) and the term “Buyer” shall also include purchaser by private treaty sale.
“Buyer’s Premium” shall mean the sum equivalent to 10% (ten percent) of the hammer price (or the amount specified in the Important Notes, if any), which is charged by the auctioneer on the Hammer Price of each lot and payable by the buyer in addition to the hammer price.
“Commission Bids” shall mean a proxy bid at auction placed by MAIN AUCTION HOUSE on behalf of a bidder not present in the room up to a pre-agreed maximum.
“Contract” shall mean the contract for purchase (applicable to real estate auctions only) formed between the Buyer and the Seller once the Hammer Price has been achieved.
“Entry Fee” shall mean the sum charged the Seller for listing his goods for auction with MAIN AUCTION HOUSE.
“Defaulter’s Entry Fee” shall mean the sum charged the relevant party (Buyer or Seller) in the event that the lot has to be re-auctioned otherwise than due to a fault of MAIN AUCTION HOUSE.
“Deposit” shall mean the sum paid in cash, banker’s draft, electronic transfer or card payment (or as otherwise agreed) by the Buyer to MAIN AUCTION HOUSE as a down or in initial payment for each lot immediately after the hammer has fallen, which shall be 10% of the hammer price (or such higher amount as mentioned by in the Important Notes).
“Good(s)” shall mean any good or goods forming a lot or lots as described in the catalogue or relevant Important Notes including but not limited to personal goods, digital, electronic, bespoke, real estate, industrial goods and/or equipment.
“Hammer Price” shall mean the highest bid accepted by MAIN AUCTION HOUSE including any VAT (Value Added Tax) that may be included therein.
“Important Notes” shall mean the notes associated with each auction including but not limited to the Health & Safety notes, viewing times, payment details, collection times, the amount of the Buyer’s Premium, VAT chargeable, and any other relevant terms relating to that particular auction and/or sale, and which in all cases are governed by these Terms and Conditions.
“MAIN AUCTION HOUSE” shall mean the Auctioneer or Auction Firm that conducts the live auction from the rostrum or online or any of the firm’s authorised representative.
“Lot” shall mean any single good, group of goods, or set of goods sold at an auction physically or online.
“Main Characteristics” shall mean the description of the core characteristic of the good (for example whether the good is a chair, television or necklace).
“Premises” shall mean the place or platform in which the auction facilitated by MAIN AUCTION HOUSE is taking place, and, where relevant, the location where the individual Lot and/or Lots under the control of MAIN AUCTION HOUSE are stored.
“Registration” shall mean all or any one of the following as appropriate:
(i) the payment of registration fees in cash or electronically, or as otherwise notified by MAIN AUCTION HOUSE in the relevant Important Notes; and
(ii) the presentation of 2 forms of identification acceptable to MAIN AUCTION HOUSE when requested; and
(iii) the completion and submission of the Bid Slip.
“Seller” shall mean the owner of the goods or his authorised representative save where the context otherwise requires.
“VAT” shall mean Value Added Tax.
“Working Day” shall mean any day that MAIN AUCTION HOUSE is open to the public for business.
1.2 The headings of the Terms do not form part of the Terms.
1.3 Save in the context of any online auctions held by MAIN AUCTION HOUSE where reference to writing will include reference to email; writing or written communication does not include faxes unless otherwise notified by MAIN AUCTION HOUSE.
1.4 If any of these Terms are inconsistent with any term of the Important Notes, the Important Notes shall prevail.
1.5 All entries of goods and the subsequent sale and purchases of lots at our public auctions (which include our physical, online and simulcast auctions) are subject to these Terms.
1.6 All Buyers and Sellers acknowledge and agree that these Terms and Conditions are binding upon them, and by the Buyers completing Registration and MAIN AUCTION HOUSE accepting the Sellers’ good(s) for auction, these Terms are deemed accepted and incorporated into all dealings as between the relevant parties.
2. ENTRY INTO AUCTION
2.1 MAIN AUCTION HOUSE sells as agent for the Seller and as such is not responsible for any default by Seller howsoever arising (including default to title).
2.2 Unless otherwise agreed by MAIN AUCTION HOUSE in writing, no good(s) shall be deemed accepted into any auction unless and until the Seller has produced: –
2.2.1 the good(s) (to the relevant premises);
2.2.2 a digital and/or electronic description of the good(s);
2.2.3 any required entry fee as specified by MAIN AUCTION HOUSE (for the avoidance of doubt, MAIN AUCTION HOUSE reserves the right to charge an entry fee when a good(s) is entered for auction, such entry fee as will be agreed between the potential seller and MAIN AUCTION HOUSE at the relevant time, and for the avoidance of doubt, if for any reason the good(s) is entered for re-sale subsequent to the initial auction (otherwise than due to a fault of MAIN AUCTION HOUSE, then MAIN AUCTION HOUSE will be entitled to charge the Defaulters Entry Fee each time the same good(s) is re-entered for auction);
2.2.4 all other relevant certificates pertaining to the good(s), which the Seller is reasonably able to produce upon request
2.3 Unless otherwise agreed, notwithstanding the production of the goods for auction, MAIN AUCTION HOUSE has the right to refuse entry of any good into auction, and shall stipulate the entry fee at a reasonable amount deemed appropriate by it.
2.4 The Seller warrants to MAIN AUCTION HOUSE and to the Buyer that:
2.4.1 the Seller is the true owner of the good(s) or is properly authorised to sell the good(s) by the true owner;
2.4.2 the Seller is able to transfer a good and marketable title to the good(s) free from any third-party claims; and
2.4.3 every representation made by the Seller (in any form) about the good(s) is wholly accurate and informed, and the Seller acknowledges that MAIN AUCTION HOUSE and the Buyer shall rely upon such representations.
2.5 The Seller shall indemnify MAIN AUCTION HOUSE, its servants and agents and the Buyer against any loss or damage suffered by them in consequence of any breach of the warranties set out in clause 2.4 above on the part of the Seller.
2.6 Unless previously agreed in writing, MAIN AUCTION HOUSE shall remit the proceeds of the sale (after making the relevant deductions for Seller’s Commission, VAT and so on) to the Seller not later than one month after the auction.
2.7 Where a Seller cancels instructions for auction of a lot after it has been listed in the catalogue, MAIN AUCTION HOUSE reserves the right to charge the Defaulter’s Entry Fee plus 5% of MAIN AUCTION HOUSE’s latest estimate of the auction price of the lot withdrawn (plus VAT where applicable).
2.8 Where any Lot fails to sell, MAIN AUCTION HOUSE will notify the Seller accordingly. The Seller will make arrangements either to re-enter the lot for auction or to collect the lot, and if such arrangements are not made:
2.8.1 within 5 Working Days of notification, then the Seller will be responsible for any removal, storage and insurance expenses of the lot as notified by MAIN AUCTION HOUSE (unless otherwise agreed); and
2.8.2 within 7 working days of notification, then MAIN AUCTION HOUSE will have the right to sell the lot at public auction without reserve and to deduct from the Hammer Price any sum owing to MAIN AUCTION HOUSE including removal, storage and insurance expenses, the entry fee in respect of the first auction (together with any VAT chargeable thereon), a Defaulter’s Entry Fee, commission on the second auction and all other reasonable expenses before remitting the balance to the Seller
3. BASIS OF SALE
3.1 All lots are sold ‘as they lie’ and/or ‘as it is’ with all faults and imperfections and errors of description other than those relating to the Main Characteristics. The Main Characteristics do not extend to details of the good(s) (for example the memory capacity of a laptop, the state of functionality of the good or the condition of the good). The absence of any reference to the condition of a lot does not imply that the lot is free from faults, imperfections and restorations. Illustrations in catalogues, digital displays or brochures are for identification purposes only. MAIN AUCTION HOUSE will not be held responsible for any damage or defect that has not been notified to the Buyer.
3.2 Buyers must satisfy themselves prior to sale as to the condition of each lot and should exercise and rely on their own judgment as to whether the Lot accords with its description. Prospective Buyers bid on the understanding that, inevitably, representations or statements by MAIN AUCTION HOUSE as to authorship, genuineness, origin, date, age, provenance, or condition involve matters of opinion. Neither MAIN AUCTION HOUSE nor its employees or agents nor the Seller accept liability for the correctness of such opinions.
3.3. No warranty (written or oral) or other term (whether express or implied and whether implied by statute, common law, custom or otherwise) as to the age, correctness of any, suitability, fitness for purpose, or satisfactory quality of the lot is given by MAIN AUCTION HOUSE, its servants or agents or by any Seller to any Buyer in respect of any lot, and any express or implied conditions or warranties are excluded to the fullest extent permitted by law. Nothing in this clause shall exclude any express or implied conditions or warranties relating to the Main Characteristics provided by MAIN AUCTION HOUSE. For the avoidance of doubt, the lots are not sold by sample, and the Buyer shall be deemed to have inspected the lot(s) he buys.
3.4 Other than the description of the Main Characteristics provided by MAIN AUCTION HOUSE, no oral or written representation made prior to or at the time of sale of any lot shall be deemed to be a representation of fact and MAIN AUCTION HOUSE undertakes no obligation or duty (whether in contract or tort or otherwise) in respect of the accuracy or completeness of any statement or representation made by MAIN AUCTION HOUSE or on MAIN AUCTION HOUSE’s behalf which is in any way descriptive of any lot. No such oral or written representations shall be deemed to be incorporated into such sale or to have induced any potential buyer to bid.
3.5 Buyers buy lots ‘where they lie’ and ‘as it is’ and are wholly responsible to bring any necessary labour and equipment in order to remove their lot(s) and shall comply with any directions which may be given by MAIN AUCTION HOUSE as to the safe removal of the lot(s) and in giving due care to other lots on the premises and the premises itself.
3.6 These Terms shall become binding on the Seller and Buyer respectively when: –
3.6.1 The Seller’s lot is accepted by MAIN AUCTION HOUSE to be considered for auction.
3.6.2 The Buyer completes Registration.
3.7 MAIN AUCTION HOUSE has the right to revise and amend these Terms from time to time to reflect changes in market conditions affecting its business, changes in technology, changes in payment methods, changes in relevant laws and regulatory requirements and changes in various systems’ capabilities. Buyers and Sellers will be subject to the policies and terms in force at the time these Terms become binding in accordance with clause 3.6 above.
3.8 The Buyer acknowledges that a sale by auction IS NOT a consumer sale for the purposes of the Federal Competition and Consumer Protection Act 2019 and the Buyer shall not seek to rely upon any conditions or warranties implied thereby or by any other legislation. All lots are sold as seen with no grading or guarantees and include second-hand items, used, salvage, raw returns, ex-display, repossessed and seized goods.
3.9 Any estimates provided in respect of a lot are only an expression of MAIN AUCTION HOUSE’s opinion made on behalf of the Seller of the range where MAIN AUCTION HOUSE thinks the Hammer Price for the Lot is likely to fall; it is not an estimate of value. It does not take into account any VAT or Buyer’s Premium payable. Lots can in fact sell for Hammer Prices below and above the estimate. Any estimate should not be relied on as an indication of the actual selling price or value of a lot.
3.10 Private treaty sales made under these Terms are deemed to be sales by auction for purposes of consumer legislation.
3.11 ARTIST’S RESALE RIGHT REGULATIONS – Where specified, works of art may be subject to the addition of a royalty charge (a percentage of the final hammer price, excluding VAT and Buyers Premium) which will be added to the final invoice in accordance with the Artist’s Resale Rights Regulations.
4. RISK AND TITLE
4.1 The title in the lot shall not pass to the Buyer until the Hammer Price and the Buyer’s Premium have been paid in full to MAIN AUCTION HOUSE (and have been received in full and cleared funds) and any other instrument tendered in payment has been cleared. Until title passes, and subject to clause below, MAIN AUCTION HOUSE reserves the right to dispose of the lot in accordance with clause 2.8 above.
4.2 From the delivery of a lot to the premises and until the Hammer Price in respect of a lot is reached or the lot is removed by the Seller (including any time during which the lot is being tested or demonstrated on the auction premises, or elsewhere) the lot is at the risk of the Seller, and neither MAIN AUCTION HOUSE nor its servants or agents will be responsible for any loss or damage whether caused by negligence or otherwise.
4.3 From the time when a Hammer Price is reached in respect of a lot, whereby a lot is deemed sold, and notwithstanding clause 4.1 above, the lot is at the risk of the Buyer from that point onwards.
5. CONDUCT OF THE AUCTION
5.1 Without prejudice to any of its rights set out in these Terms, MAIN AUCTION HOUSE has absolute discretion without giving any reason to: refuse any bid, withdraw any lot before the hammer falls, divide any lot or combine any two or more lots.
5.2 Potential buyers wishing to participate in an auction shall first:
5.2.1 view all Lots
5.2.2 complete registration (including the payment of the registration fees), before they will be admitted to participate in any auction.
5.3 The contract of sale between the Seller and a Buyer will be formed once the Hammer Price has been achieved, at which point the lot shall be deemed sold subject to the provisions of clause 4.1 above.
5.4 For the avoidance of doubt, the parties to the contract of sale of the lot are the Buyer and the Seller. MAIN AUCTION HOUSE is not a party to the contract of sale but acts as the Seller’s agent only and is not liable for any breach thereof by either the Buyer or the Seller.
5.5 Immediately after the achievement of the Hammer Price the terms of clause
below shall apply.
5.6 If a potential buyer is unsuccessful in achieving the Hammer Price, he may recover his deposit (if he had made a deposit prior to the auction) from MAIN AUCTION HOUSE or, he may request in writing that MAIN AUCTION HOUSE keep the deposit against future auctions which the potential buyer may participate in, and make him a registered ‘regular customer’ of MAIN AUCTION HOUSE provided he adheres to bi-annual requests for identification.
5.7 Any dispute in relation to the bidding or following the attainment of the Hammer Price in relation to what bids were made or by who, shall be referred to MAIN AUCTION HOUSE for decision. For the avoidance of doubt, MAIN AUCTION HOUSE shall have absolute discretion to cancel the contract of sale and to re-auction the lot (which is the subject of any dispute) either during the same or a subsequent auction, and, in all cases, MAIN AUCTION HOUSE’s decision in respect of any such dispute (for which no justification or reasons shall be required) shall be final.
5.8 In the event that MAIN AUCTION HOUSE exercises the discretion to cancel the contract referred to at clause 5.7 above, neither the original Buyer nor the Seller shall be entitled to rely on the original contract of sale for any purpose whatsoever save that the Buyer shall be entitled to the return of any deposit or other money which he may have paid under the original contract.
5.9 Every bidder shall be deemed to act as principal unless there is in force a written acknowledgment by MAIN AUCTION HOUSE that he acts as agent on behalf of a named principal.
5.10 MAIN AUCTION HOUSE shall not in any circumstances be obliged to announce any reserve price.
5.11 MAIN AUCTION HOUSE reserves the right to turn away any potential Sellers and/or Buyers who do not present appropriate identification upon reasonable request.
5.12 Persons attend auctions at their own risk.
5.13 Where MAIN AUCTION HOUSE conducts a sale on behalf of a Seller who is either a receiver or liquidator of a limited company or trustee in bankruptcy:
5.13.1 the Seller and MAIN AUCTION HOUSE on its/his behalf shall only sell whatsoever right, title or interest the company or bankrupt may have in any lot;
5.13.2 in the event of a third party proving to have a superior title or right to custody or possession of any lot, MAIN AUCTION HOUSE may rescind the contract of sale; and upon return of any deposit and/or Hammer Price to the Buyer, neither the Seller nor MAIN AUCTION HOUSE shall be under any further liability to the Buyer.
5.14 MAIN AUCTION HOUSE shall have the right, at its discretion, to refuse admission to the premises or attendance at the auctions by any person.
5.15 The Important Notes and these Terms will be made available to potential buyers on MAIN AUCTION HOUSE website, on request, and it will be on display at the premises. It will also be referred to in the event catalogue (if any).
6. PRICE AND PAYMENT
6.1 Immediately following the achievement of the Hammer Price, the Buyer shall attend the relevant clerk and/or follow the appropriate process as notified to the Buyer by MAIN AUCTION HOUSE and pay the Hammer Price plus VAT unless specified otherwise, and also the Buyer’s Premium. If the Buyer fails to do so by 5 pm on the next Working Day, or such other time as is specified in the Important Notes, MAIN AUCTION HOUSE shall have an absolute discretion to cancel the contract of sale, to retain the deposit, and the terms of clause 8.1 below will apply.
6.2 All required payments shall be settled in full and before removal of the lot is permitted and will be in Naira (NGN) by way of Bank Transfer, Debit Cards, Cash (up to N10,000 per Buyer) or as otherwise specified in the Important Notes or directly by MAIN AUCTION HOUSE. All queries in relation to methods of payment must be made to MAIN AUCTION HOUSE accounts department and unless otherwise agreed by MAIN AUCTION HOUSE, the timing required under these Terms for payment is of the essence, and will under no circumstances be adjusted further for failure on the part of the Buyer to make the necessary enquiries and preparations in order to pay the Hammer Price.
6.3 In respect of electronic transfers, the remitting bank must include the bidding number (listed on the paddle), the invoice number, and any other reference as shown in the Important Notes, or as otherwise directed by MAIN AUCTION HOUSE.
6.4 All bankers’ drafts shall be confirmed with the drawn bank prior to acceptance. Buyers must provide full details of the drawn bank including branch, contact name and telephone number.
6.5 Bankers’ Drafts can only be accepted for payment up to 4.00pm, Monday to Friday – after this time collection will be deferred to the next Working Day.
6.6 All lots shall be sold exclusive of VAT, which will be added to the Hammer Price at the prevailing rate (if applicable).
6.7 All lots must be paid for in accordance with clause 6.1 above and must be removed no later than the time specified in the Important Notes.
6.8 The Important Notes will set out:
6.8.1 the Health & Safety policies;
6.8.2 viewing times;
6.8.3 payment details;
6.8.4 collection times;
6.8.5 the amount of commission (if any) which will be payable by the Seller as a percentage of the Hammer Price;
6.8.6 the amount of the Buyer’s Premium (as defined below in clause 6.9);
6.8.7 any service charges;
6.8.8 VAT payable (if any);
6.8.9 registration details
6.8.10 location details; and
6.8.11 specific details relating to the particular auction
6.9 MAIN AUCTION HOUSE will charge a “Buyer’s Premium” on all lots on the in addition to the Hammer Price of the lot plus VAT. The Buyer’s Premium will be set out in the Important Notes and will be a percentage of the Hammer Price, which will be charged to the Buyer.
6.10 MAIN AUCTION HOUSE is entitled to deduct the relevant fees from the Hammer Price (plus any VAT chargeable thereon) in respect of each lot (which may, for the avoidance of doubt, include any commission due, the entry fee due (if not already paid) and any other previously notified fees chargeable), before remitting the proceeds to the Seller.
6.11 Without prejudice to any other rights of MAIN AUCTION HOUSE under these Terms in respect of the charging of commission, entry fees, Buyer’s Premium, and any other relevant fees, MAIN AUCTION HOUSE will be entitled to charge the commission and Buyer’s Premium in all cases including but not limited to:
6.11.1 when the lot is sold in an auction irrespective of whether the contract of sale is later rescinded (save further to an act or omission of MAIN AUCTION HOUSE);
6.11.2 if the lot is sold (or re-sold) by way of private sale on the premises;
6.11.3 if the lot is re-sold further to the default of the Buyer, or the Seller;
6.11.4 if the Seller becomes the Buyer.
6.12 Without prejudice to any of MAIN AUCTION HOUSE rights under these Terms, for the avoidance of doubt:
6.12.1 MAIN AUCTION HOUSE shall not be under any obligation to pay any monies to the Seller following the auction until such time as the Buyer remits all monies due and in accordance with the provisions of this clause 6 and;
6.12.2 MAIN AUCTION HOUSE will be entitled to deduct from any payment due to the Seller, any amounts owed by the Seller to MAIN AUCTION HOUSE, which MAIN AUCTION HOUSE has obtained prior consent from the Seller to so deduct.
7. BUYER’S DUTIES
7.1 The Buyer shall at his own expense and risk take away the lot(s) purchased not later than 5pm the following Working Day after the relevant auction in which the lot was purchased and sale concluded, unless otherwise stated in the Important Notes (but in any event not before payment to MAIN AUCTION HOUSE in accordance with clause 6 above). If the Buyer fails to do so, the provisions of clause 8.2 below shall apply.
7.2 The Buyer shall fully indemnify and keep indemnified MAIN AUCTION HOUSE in the event of any damage or loss caused and/or occasioned to any adjoining or other lots or to the premises by his removal of his lot(s).
7.3 The Buyer shall be responsible for any injury to and/or death of any person resulting from the removal of his lot(s) and shall fully indemnify and keep indemnified, MAIN AUCTION HOUSE against any such liability whether or not such injury and/or death was caused by the negligence of the Buyer, his employees or agents.
7.4 In accordance with clause 4.3 above, the Buyer shall be responsible for loss or damage to the lot(s) purchased from notification of successful bid and neither MAIN AUCTION HOUSE nor its servants or agents shall afterwards be responsible for any loss or damage of any kind, whether caused by negligence or otherwise, while any lot is in its custody or under its control.
7.5 MAIN AUCTION HOUSE will not be liable under the Factories Act 1987, and if required to do so by MAIN AUCTION HOUSE, the Buyer will provide a written undertaking (in a form acceptable to MAIN AUCTION HOUSE) to comply with all duties and obligations in respect of the lot by the Health and Safety regulations in the Factories Act 1987, any subsequent modification or re-enactment of either Act or by any other legislation affecting the use of the lot. MAIN AUCTION HOUSE may cancel the contract if the Buyer fails to provide such an undertaking upon request. In this event, MAIN AUCTION HOUSE will be entitled to re-auction the lot at any time.
7.6 The Buyer shall be responsible for any damage occasioned to any adjoining or other Lots or to the Premises by the removal of their Lot(s) and shall repair the same either before removal of the lot(s) from the premises or after such removal as MAIN AUCTION HOUSE may desire or shall pay the estimated cost of doing so to be fixed by MAIN AUCTION HOUSE whose decision shall be binding on the Buyer.
7.7 Neither the Seller nor MAIN AUCTION HOUSE shall be under any liability to provide any information and instructions for safe use of any article or equipment and the Buyer undertakes to take such reasonable and practical steps as are sufficient to ensure that his purchase will be safe and without risk to health and safety when properly used.
8. BUYER’S DEFAULT
8.1 If the Buyer does not honour his obligations for payment under clause 6 above in any way, MAIN AUCTION HOUSE as agents of the Seller shall at its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise one or more of the following rights or remedies:
8.1.1 to rescind the contract for sale of the lot(s) sold to the defaulting Buyer at the auction; and
8.1.2 to retain the deposit and may sue the Buyer directly for damages for breach of contract;
8.1.3 to enter the lot in question to be resold at public auction or private sale; in the event that there is a shortfall in the new Hammer Price (from the previous) or in the amount it is sold by private treaty, the defaulting Buyer shall pay to MAIN AUCTION HOUSE any resulting deficiency in the new Hammer Price or purchase price;
8.1.4 to remove, store (either at the premises or elsewhere) and insure the lot at the expense of the defaulting Buyer;
8.1.5 to charge interest at a rate not exceeding 2% per month on the Hammer Price to the extent that it remains unpaid for more than 2 Working Days after it became due;
8.1.6 to retain that or any other lot sold to the same Buyer at the same or any other auction and release it only after complete payment of the Hammer Price for the unpaid lot(s);
8.1.7 to reject or ignore any bids made by or on behalf of the defaulting Buyer at any future auction;
8.1.8 to apply any proceeds of sale then due or at any time afterwards becoming due to the defaulting Buyer towards settlement of the Hammer Price and to exercise a lien on any property of the defaulting Buyer which is in MAIN AUCTION HOUSE possession for any purpose.
8.2 If the Buyer fails to remove the lot from the premises as required under clause 7.1 above (and such failure to remove the lot is not due to any fault of MAIN AUCTION HOUSE) MAIN AUCTION HOUSE will have the right to:
8.2.1 re-enter the lot into auction and charge the Defaulter’s Entry Fee to the Buyer;
8.2.2 charge a one-off administration fee of N5,000 (plus VAT if applicable);
8.2.3 move the lot (at the risk of the Buyer provided that MAIN AUCTION HOUSE will use reasonable care and skill in such a move) to another premises from that where the Buyer purchased the Lot; and
8.2.4 for every calendar day following the day on which the lot(s) should have been collected from the premises by the Buyer, the Buyer will incur a daily storage charge of N1,000 plus VAT per lot stored without exception, and such charge will continue to accrue notwithstanding the transfer of any lot to an alternative premises by MAIN AUCTION HOUSE (and for the avoidance of doubt, MAIN AUCTION HOUSE will deduct such charge from the deposit).
8.3 When a lot is re-auctioned pursuant to clause 8.1 or 8.2 or otherwise in accordance with these Terms as deemed appropriate by MAIN AUCTION HOUSE, the proceeds of such re-sale will be applied in the following manner (for the avoidance of doubt, MAIN AUCTION HOUSE will only be able to apply the deposit as against the costs listed below if the re-sale is occurring further to clause 8.1, and in the case of a resale occurring further to clause 8.2, the deposit will first be applied as against the costs listed below, followed by the proceeds of the re-sale):
8.3.1 the Defaulter’s Entry Fee on the re-sale, which will be charged to the Buyer;
8.3.2 any outstanding storage fees, removal fees, and insurance expenses due;
8.3.3 any sums due under the original contract following the first auctions (together with any VAT chargeable).
8.4 The balance of the re-sale price, if any, shall be paid to the original Buyer if title in the lot has passed to him but shall otherwise be paid to the original Seller or, where the Seller’s rights have been transferred to MAIN AUCTION HOUSE, shall be retained by MAIN AUCTION HOUSE. The original Buyer will remain liable to MAIN AUCTION HOUSE and/or the Seller subsequent to the re-sale, save where the proceeds of the re-sale have discharged such liability.
9. DATA PROTECTION
9.1 MAIN AUCTION HOUSE will only use the personal information provided to it to provide the auction services listed herein, or to inform Buyers and Seller about similar services which they provide, unless told by such parties that they do not want to receive such information by ticking the relevant box on the firm’s web page.
9.2 The Buyers and Sellers acknowledge and agree that MAIN AUCTION HOUSE may pass their details to credit reference agencies.
9.3 With respect to the parties’ rights and obligations under these Terms, such party shall be the Data Controller for information obtained in the course of the auction as permitted under these Terms. To the extent that the Buyer needs access to Personal Data relating to its receipt of the lot, or a Seller needs access to Personal Data relating to its sale of the lot, then MAIN AUCTION HOUSE shall be the Data Controller and the Buyer (and/or Seller) shall be the Data Processor in respect of such Personal Data.
9.5 MAIN AUCTION HOUSE shall:
9.6 only process Personal Data relating to its management (or otherwise) of the auction in accordance with the regulations of the Nigerian Data Protection Regulation 2019;
9.7 only process Personal Data to the extent, and in such manner, as is necessary for the provision of the auction services and/or its obligations under these Terms or as is required by law or any regulatory body;
9.8 implement appropriate technical and organisational measures to protect Personal Data against unauthorised or unlawful processing and against accidental loss, destruction, damage, alteration or disclosure. These measures shall be appropriate to the harm which might result from unauthorised or unlawful processing or accidental loss, destruction or damage to Personal Data and to the nature of the Personal Data which is to be protected; and
9.9 not perform its obligations hereunder or as otherwise set out in these conditions in such a way as to breach any of its applicable obligations under the Nigerian Data Protection Regulation 2019.
10.1 If any court or competent authority decides that any of the provisions of these Terms (as amended from time to time in writing by MAIN AUCTION HOUSE) is invalid, unlawful or unenforceable to any extent, the term will, to that extent only, be severed from the remaining terms, and the remaining terms shall continue to be valid to the fullest extent permitted by law.
10.2 If MAIN AUCTION HOUSE fails, at any time while these Terms are in force, to insist that the Seller and/or Buyer perform their obligations under these Terms, or if MAIN AUCTION HOUSE does not exercise any of its rights or remedies under these Terms, that will not mean that MAIN AUCTION HOUSE has waived such rights or remedies and will not mean that the Seller and/or Buyer does not have to comply with those obligations. If MAIN AUCTION HOUSE does waive a default by the Seller and/or Buyer that will not mean that MAIN AUCTION HOUSE will automatically waive any subsequent default by the Seller and/or Buyer. No waiver by MAIN AUCTION HOUSE of any of these Terms shall be effective unless MAIN AUCTION HOUSE expressly says that it is a waiver and MAIN AUCTION HOUSE tells the Buyer and/or Seller so in writing.
10.3 A person who is not party to these Terms shall not have any rights under or in connection with them.
10.4 Lots listed for auction that have been physically de-branded/de-badged are to remain de-branded. No original trademarks, web images, vendor/clients’ logos or other intellectual property may be copied or used by the winning bidder without prior written consent. Any bidder in breach risk permanent exclusion from auctions and salerooms.
10.5 These Terms shall be governed by Nigerian law and MAIN AUCTION HOUSE, the Seller and the Buyer all agree to the exclusive jurisdiction of the Nigerian courts.
11. ONLINE TERMS OF PARTICIPATION AND SALE
11.1 Subject to the following clauses which have precedence over the Terms above, the provisions of all Terms above apply to the sale of lots made through www.mainauctionhouse.com (the “Website”), and to the extent that such adjustments in practical application of the Terms are warranted by virtue of the electronic medium of participation in any given auction, so such adjustments shall be deemed made so to give full application to all relevant and applicable Terms.
11.2 All participants in the website auctions warrant that they are legally capable of entering into binding contracts and are of the legal age required to purchase any relevant good(s).
11.3 Any reference in the above Terms to the Buyer’s Premium will also, for the purposes of sale/purchases over the Website, include any online Buyer’s fees of which the Buyer will be so notified at the time of Registration.
11.4 The website operates a ‘3 minute rule’ which means that any person who bids on-line within the last 3 minutes of a specific lot’s closing time will instigate the automatic extension of the Lot’s closing time by an additional 3 minutes and so on for any such subsequent bids.
11.5 In addition, use of the MAIN AUCTION HOUSE online bidding platform is at all times subject to the MAIN AUCTION HOUSE conditions of website use.
11.6 During an auction, potential Buyers can bid for a lot by clicking the “Bid” button. Each bid shall be final and binding as soon as the Bid button is clicked.
11.7 In the event of a tie between a bid placed by a potential Buyer online and any other identical bid(s), it will be at the auctioneer’s discretion as to which bid shall be accepted.
11.8 Buyers acknowledge that the online auction is a live auction and agrees that each bid submitted as provided in these Terms is irrevocable and cannot be amended or corrected, even if submitted in error and notified to MAIN AUCTION HOUSE.
11.9 Buyers are fully liable for all bids submitted via their online bidding account (including the liability to pay in full and on time in accordance with these Terms for any Lot that is the subject of a successful bid submitted from the Buyer’s account).
11.10 MAIN AUCTION HOUSE provide the online bidding service “as is” and “where is” without any warranty or condition, express, implied or statutory. Without limiting the foregoing, we accept no liability for any failures, delays or errors caused by interruptions in the availability of the online bidding service or our website or any errors or defects in their content or functionality, any software and/or hardware defects (whether of the potential Buyers or MAIN AUCTION HOUSE) and or any internet connection problems (whether of the potential Buyers or MAIN AUCTION HOUSE) and MAIN AUCTION HOUSE does not represent or warrant that its website or online bidding platform will be error free, virus free, or that any defects will be corrected.