Terms & Conditions

TERMS & CONDITIONS

Registration for Live, Phone, and Absentee Bids

To participate in the auction, prospective bidders should complete and sign the Bid Registration Form in order to be assigned a paddle number. Forms are available at Finale or can be downloaded from www.finaleartfile.com

Should you wish to bid via phone, please indicate which lots you are bidding for in the Form. Finale Auctions will call you to confirm your bids on the day of the auction. Should you choose to leave an absentee bid, please indicate which lots you are bidding for and the maximum amount that you wish to bid for each item.

All bidders will be assigned a paddle number.

 

Auction

Public auction will start promptly on the date and time announced.

The auction proper will be conducted by an auctioneer, who will be accepting bids for the lots. The auctioneer may vary bidding increments during the course of the auction at his own discretion. The lot will be awarded by the auctioneer to the highest bidder provided that the reserve price of the seller is met. The winning bidder will be given a confirmation form to sign and is legally liable to purchase the lot at the winning bid accepted by the auctioneer (“hammer price”) and pay for the buyer’s premium.

The fall of the auctioneer’s hammer indicates the final bid, at which time, the buyer assumes full responsibility for the lot. The hammer price does not include the 12% Value Added Tax.

 

Buyer’s Premium

A buyer’s premium of 15% of the hammer price is charged by the auction house. A 12% Value Added Tax is charged on the buyer’s premium for a total of 16.8%.

 

Payment

Payment must be made within five (5) working days after the auction. The buyer may not take possession of the lot until payment for the item has been made in cleared funds. Payment by cash or manager’s check will enable immediate release of the purchased lot, while check payments will require clearing before items can be released. Credit cards are not accepted. All payments should be made in Philippine Pesos.

 

Finale Auctions

Finale acts as an agent between the seller and the buyer. Lots offered by Finale Auctions at auction are made on the seller’s behalf as its agent. Any information provided by Finale Auctions is given on behalf of the seller.

 

Lots

Lots are sold at an “as is” basis. Buyers are encouraged to view the items and inspect the lots prior to the sale to satisfy themselves of the accuracy of descriptions and condition of the items. The condition of items may not be specified in the catalogue. Condition reports may be requested for lots prior to the auction. It is the buyer’s responsibility to inspect any lots he or she may be interested in.

Finale Auctions does not guarantee the condition of items. Any information given by Finale Auctions are statements of opinion and may be based on representations from the seller.