Marketing Real Estate! Selling by Auction!
1. "Sold Outright" or "SoldOutright" for all purposes relating to any and all transactions in this regard will be conducted by Brent Reid Enterprises Ltd. Registered in Manitoba 1983
2A. The Purchase:
The total purchase price payable by the Successful Bidder at Auction on each lot will be the Winning Bid plus the addition of a buyer's premium of 16% followed by the addition of all associated taxes.
2B. Winning Bid + 16% Buyer Premium + Associated Taxes payable by the Successful Bidder
2C. Outright Purchase + 16% Buyer Premium + Associated Taxes payable by the Successful Buyer
2D. Accepted Offer + 16% Buyer Premium + Associated Taxes payable by the Successful Buyer
3A. Sold Outright Marketing/Selling Commission of 46% of the total of Winning Bid/Buyer Premium will be payable to Sold Outright
3B. Example; Final Selling Price $100 plus 16% = $116.00 x 46% = $53.36 payable to Sold Outright...$62.64 to the Consignor
3C. Other Costs: Pick Up, Shipping, Handling, Removal of Unsold Items, Disposal Costs will be charged to the Consignor and deducted accordingly.
4. All items are Sold on an "as is, where is" basis! Our agents, auctioneers, personnel, representatives and consignor make no promises in regard to, warranties or representation as to the correctness of any and all descriptions, size, authenticity, color or quality.Prospective Bidders should inspect the property before bidding or be satisfied as to condition, size and quality as well as any other verbal representation.
5. Sold Outright in no way can guarantee authenticity of any item that may include paintings, coins, drawings, metal content, sculpture.
6. We reserve the right to withdraw any property before the moment of sale.
7. At the discretion of SoldOutright, its Associates, Employees, Representatives and Shareholders may execute bids on behalf of an absent bidder, telephone bidder, employee bids or bids from an institution/company. Sold Outright Management, Employees or Representatives shall not be liable to either the consignor or purchaser for any neglect or default in attempting or making such bids.
8. SoldOutright reserves the right to reject any bids, offer, or outright purchase should there be any dispute or doubt on the part of SoldOUtright as to the validity of any potential transaction. sold Outright will have the final descretion either to determine the successful bidder or re-offer and resell the proerty in dispute. Should continuing dispute arise after the final sale of any item, the SoldOutright Sales Record is Conclusive.
9. SoldOutright, without regard to a printed estimated price that any opening bid is below the value of the lot offered, SoldOutright Auctioneer or their representatives may reject any bid at any time that is below the value of the lot offered and should any bid being acknowledged and any advance thereafter is insufficient, the auctioneer may reject the advance.
10. Should the fall of the hammer or any indication of the item being sold, title to the offered lot will pass to the highest bidder acknowledged by the auctioneer, subject to the conditions set forth herein, and such Buyer thereupon will pay the full purchase price thereof or such part as SoldOutright may require.
11. Continuing, the Buyer also assumes all risks on the offered lot and neither the auction house nor its agents shall be liable for any loss or damage of any kind whether caused by negligence or otherwise. All property must be removed from SoldOutright locations by the Buyer at their expense not later than one business day following its sale and if not so removed, a handling charge of 5% of the purchase price per month until removal of the property will be payed by the purchaser, location owner, or Sold Outright.
12. Payment in full, or acceptable deposit in regard to Real Estate, must be made directly to SoldOutright or their Legal Representative on the day of sale.
13. Payment in full must be made on the day of sale or closing on line by cash, certified cheque, acceptable good cheque, debit card, , Visa, Master Card, e Transfer, Bank Draft or any other mutually agreed payment arrangement made with SoldOutright prior to the actual sale.
14. All Currency is in Canadian Dollars.
15. Occasionally some Auction Lots may be subject to provisions of the Cultural Property Import and Export Act of Canada. The BUyer is responsible for obtaining the necessary licences and denial or delay of any licences shall not justify the cancellation of any sale or any delay in payment of the total purchase price for the lot.
16. Antiques are sold on an "As is" "Where is" basis with no guarantee as to condition , authenticity, or defect, either expressed or implied. Purchasers must satisfy themselves through inspection, their knowledge or otherwise as to the entire physical description and conditionof the lots they intend to purchase.
17. This agreement comprises the entirety of the contract between SoldOutright and the Buyer. SoldOutright and its Associates shall not be held liable in respect of any representation not made in writing herein. This agreement shall be governed by the laws in force in Manitoba, Canada, whose Courts shall have the sole juristiction to adjudicate claims made in respect of this Agreement.
Third Revision January 02, 2019