How
to Bid - Rules
Please be on the lookout for 2020 Auctions.
Extended Bidding will start at 9:00pm EST for each auction.
Bidding on Items. You must be a registered
user to bid on items. By bidding, you are stating that you are ready
and willing to purchase that item for your bid amount, plus any
shipping charges disclosed in the listing. If you are outbid, or your
bid does not meet the seller's reserve price, you are under no
obligation to buy. But in all other cases, you are entering a contract
with the seller to buy the item, and to deliver payment within the time
period specified. If you cannot pay please don't bid. Your
bids are final and non-retractable. Bidding begins immediately
by phone and online. We are online at http://www.thegolfauction.com
for all of our auctions. We will not accept e-mail bids.
Minimum Bid. TGA will predetermine the
number of Item(s) in an auction. TGA will set the minimum bid on each
item to be agreed upon by both TGA and Consignor. The Minimum Bid, if
not agreed upon, shall be approximately thirty percent (30%) of the
retail value. The Minimum Bid is designed to encourage bidding. If an
item is incorrectly described online, TGA reserves the right to rectify
such error and email to all active bidders the correct description. For
phone bidders, all corrections will be read over the phone to the
prospective bidder.
Extended BiddingThe Golf Auction uses an
"extended bidding" process to close all of our auctions. After 9:00pm
EST, for the current auction, the auction will continue for any lots
that have multiples bids until there are no bids place on any lots in
the auction in a fifteen (15) minute time frame until 10:00pm EST. You
MUST place a bid on the lot in order to bid in extended bidding. At
11:00pm EST the auction will continue until there are no bids
place on any lots in the auction in a five (5) minute time frame. The
Golf Auction reserves the right to end the auction without notice after
12:00am EST. Any lots will no or one bid will close at the beginning of
extended bidding.
For example, during
"extended bidding", if Lot #1 receives a bid within the initial fifteen
(15) minute time frame through 10:00pm EST, the WHOLE auction is
extended 15 minutes. All bidders are all on the same playing field and
are all equipped with the information required to ensure that the only
reason they do not win a given lot is they are not interested in the
lot or the price for the lot went above their threshold. The auction is
not closed until all bids have been made, and when the auction is
closed, the high bidder on every lot is the person who is willing to
pay the most for the item. This is precisely what auctions are supposed
to accomplish.
This system is great for
bidders in that every lot goes to the bidder who is really willing to
pay the most for the item, and great for consignors in that each lot is
really sold to the bidder who is willing to pay the most. Also, bidders
also have the ability to transfer their purchasing power from one lot
to another on all lots as they have been outbid. This is a great
example of the reason to use an "extended bidding" closing style. This
promotes higher prices, which is great for consignors, while at the
same time allowing bidders to not get shut out, which is great for
bidders. The Golf Auction reserves the right to end the auction at any
time in extended bidding. Happy bidding.
Shipping/Damage.
TGA
will not be responsible for any item(s) that are not in TGA's
possession. It is recommended that the Consignors use a shipping
company that will provide insurance for the item(s) for transit to TGA.
TGA will maintain full property and liability insurance in the event
there is theft or damage to the item(s). TGA will also insure that
item(s) in TGA's possession will be shipped insured back to Consignor.
In the event of theft or total damage to the item(s), TGA agrees to pay
the Consignor the proceeds of the insurance coverage, less the
commission due to TGA. Unless previously agreed upon, the insurance
value (coverage) of any consigned item will be two (2) times the amount
of the minimum bid set for the item(s) pursuant to this agreement.
Bidder is responsible for all shipping and insurance of item bid on/or
purchased.
Collections of Payment. TGA has no
obligation to enforce or collect payment from any Bidder/Buyer. If
any Bidder/Buyer does not pay TGA for any Item(s) within sixty (60)
days after the end of an Auction, TGA has the right to offer the
Item(s) to the 2nd highest bidder for payment. If Auction
does not have a 2nd highest bidder, the Consignor has the right to
request TGA to return the Item(s) to the Consignor at Consignor’s
expense, or Consignor has may choose to leave the Item(s) with TGA for
placement in subsequent Auctions. If Consignor chooses to
leave item with TGA for subsequent Auction, Consignor must put in
writing to TGA that Consignor requests that the Item(s) be placed in
the subsequent Auction.
Commissions. Consignor agrees to pay a
commission to TGA a competative market percentage of the successful bid
price for each of the Item(s) or lot sold. TGA
will also charge the Bidder/Buyer of the Item(s) a commission (Buyers
Premium) of seventeen and half percent (17.5%) of the successful bid
price of each of the Item(s) or lot sold. Consignor
will also be responsible, unless otherwise agreed upon, expenses of,
but not limited to, restoration, grading fees, special authentication,
etc. but not including shipping and insurance to final bidder of item.
Payment. When TGA
receives payment from Bidder/Buyer, within thirty (30) days TGA will
remit to the Consignor the Net Proceeds for the Item(s). The
Net Proceeds” consist of the amount of the total proceeds collected,
less the commissions (both Consignor and Bidder/Buyer) and any expenses.
A credit card on file will be automatically charged for the items
purchased within 7 business days unless notified by final bidder.
Consignor Ownership. Consignor
warrants to TGA and Bidder/Buyer of the Item(s) that Consignor is the
sole owner of the Item and the Item are free and clear of any liens or
claims, and the Item sold to Bidder/Buyer will be free of liens or
claims and Consignor has provided TGA with this information. Consignor
agrees to indemnify the Bidder/Buyer and TGA harmless from any damages
(including attorney fees) relating to the breach of your agreements in
this Agreement. The warranties and indemnity will survive
the completion of the transactions described in this Agreement.
Bid Shilling. It is
agreed to by TGA and Consignor that neither Consignor nor anyone acting
on Consignors behalf may bid on Item(s).
Authenticity. TGA may, at any time
during an Auction, remove the Item(s) if there is any doubt to the
authenticity of the Item(s). The Item(s) will be returned
at the Consignors expense. Except in paragraph 4,
Consignor may withdraw any Item(s) from TGA.
Counterfeit Item(s). Consignor
agrees to allow TGA to rescind the sale of any Item(s) if TGA learns
the Item(s) are inaccurately described or learn the Item(s) are
counterfeit or forged. It TGA notifies the Consignor of
such action, Consignor agrees to return to TGA any proceed paid to the
Consignor and Item(s) will be returned to Consignor.
Dispute Resolution. Consignor
and TGA agree that all disputes hereunder shall be resolved first,
though mediation, and if unsuccessful, then though binding arbitration
before a single arbitrator in accordance with the applicable rules of
the American Arbitration Association then in effect. The
venue for mediation and arbitration shall be Pinellas County, Florida.
Judgment of the arbitrator may be entered in any court having
jurisdiction over the non-prevailing party. All legal
fees will be the responsibility of non-prevailing party.
Comments. If you feel we have
missed something, or the explanation is not clear enough, please
contact us at sales@thegolfauction.com
and we will email back promptly. Please include your specific questions
or comments in the email, and if your questions are regarding a
particular auction, include the title of the auction, or the item
number in your email. We look forward to working with you.
Return Policy. All items are sold AS-IS
and all sales are FINAL. Many of our auction items
are already framed. Without removing the frame, it is impossible to
know the condition of the areas not seen. The Golf Auction does not
assume responsibility for the condition of areas hidden by the framing
or matting on these specific item(s). For this reason, our catalog
descriptions on these auction items are written extremely carefully,
paying acute attention to detail.
Disclaimer. The Golf Auction is not
responsible for computer or human error which may result in any
customer dissatisfaction. We reserve the right to accept or reject any
and all bids or bidders. The Golf Auction reserves the right to request a deposit at any time for what The Golf Auction considers excess bidding to continue to bid in a specified auction.