PRESTIGE JONES AUCTIONS, (PJA), will endeavour to sell property listed in the attached Property Description and referred to as ”the Lots”. The Lots will be sold at online public auction unless otherwise agreed between PJA and the Vendor. Since PJA will be selling as the Vendor’s agent, the contract for the sale of the Lots will be between the Vendor and the highest bidder accepted by the auctioneer, referred to as “the Buyer”. PJA will endeavour to sell the Lots to the Vendor’s best advantage. PJA shall have complete discretion as to: (a) whether to offer any Lot for sale; (b) the way the Lots are described and illustrated in the catalogue and any condition report, saleroom notice, advertisement or other literature; (c) the date, place and conditions of sale and the manner in which the sale is conducted; (d) whether to admit or refuse to admit any person to its premises for attendance at any auction or otherwise; (e) whether to accept any bid, withdraw or divide any lot or to combine any two or more lots; (f) in the case of dispute, whether to put any lot up for auction again; (g) subject to any reserve to sell any Lot after the auction at which the Property did not sell. PJA reserves the right to bid for the Lots on behalf of the Seller. All Lots will be sold at a price which is inclusive of GST if any.

The Vendor may not, without PJA’ agreement, withdraw any Lot from sale or increase the reserve. If PJA agrees to the withdrawal of a Lot, or increase in the reserve, the following fees will apply: (a) A fee of 30% of the reserve where the reserve is increased and the item fails to sell; (b) A withdrawal fee of 30% of the reserve if an item is withdrawn and the item has yet to be catalogued or marketing has not taken place. (c) A fee of 35% of the reserve if an item is withdrawn and the item has been catalogued for sale or if specific promotion has taken place. All fees will be based on the reserve, or where there is no reserve, on the median of PJA' selling range. The Vendor will be liable to pay the withdrawal fees plus any costs incurred and PJA may retain possession of the Lots until all amounts due from the Vendor are paid.

The Vendor gives PJA full rights to photograph and illustrate any Lot at the cost stated overleaf or at PJA’ discretion, and to use such photographs and illustrations, as well as any provided by the Vendor, at PJA’ absolute discretion for any purpose whether connected to the auction or not. Certain lots may be subject to an additional copyright licence fee.

The Vendor grants to PJA a general lien coupled with the power of sale over any property of the vendor in PJA’ possession or control which PJA may decide to appropriate, hold or sell to settle any debt owing by the Vendor to PJA however arising.

PJA has the sole and exclusive right to retain and to sell the Lots on commission at current reserve for twenty one days after the date of the auction at which the goods were passed in. The Vendor will not sell or offer the Lots during such period. Lots unsold at auction or subsequent sale must be collected at the Vendor’s expense within the period of one month after the Vendor receives notice from PJA. Unless the vendor arranges a reduced reserve in writing or withdraws the item from PJA then the reserve shall be deemed to reduce by 50% for each subsequent offering without notice to the vendor. Unless PJA agrees, if any Lot remains unsold twelve months after its receipt by PJA it may be sold at PJA’ discretion as to method and price without regard to any reserve.

Buyers are required to pay promptly after sale. PJA shall remit to the Vendor the net proceeds of sale, which shall be the Hammer Price less all charges no later than 21 working days after the date of sale or subsequent negotiated sale. PJA sell as agent for the Vendor and is not responsible for any default of the buyer. If the buyer fails to pay the purchase price in full within two weeks after the auction PJA shall endeavour to notify the Vendor and take the Vendor’s instructions as to the appropriate course of action. So far as, in PJA’ opinion, it is practicable PJA will assist the Vendor to recover the purchase price from the Buyer, but PJA shall not be required to issue proceedings against the Buyer in its own name. Any proceedings issued will be at the Vendor’s instructions and expense.

If the Buyer of any Lot returns the Lot to PJA in the same condition as it was at the time of purchase, within the period of 24 months from the date of purchase and it is proven to be a fake or a deliberate forgery, whether or not the status of the Lot was known to the Vendor, the Vendor shall accept the return of the Lot and shall refund any money received from PJA in respect of that Lot.

PJA reserves the right to have any remedial work done to the goods at the Vendor’s cost if in its opinion such is required to make the Property more saleable.