Frequently
Asked Questions
Current Auction - Bidding - 2018 Ryder Cup Week Golf Memorabilia Auction
The 2018 Ryder Cup Auction will end soon soon! Extended bidding to follow.
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 Bidding. The Golf Auction uses an "extended bidding" process to close all of our auctions. All lots in the auction close at the same time. After 5:00pm EST, for the current auction, the auction continues until there are no bids place on any lots in the auction in a fifteen (15) minute time frame until 9:00pm EST. At 9:00pm 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 12:30am EST.
For example, during "extended bidding", if Lot #1 receives a bid within the initial fifteen (15) minute time frame through 9:00pm 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 for consignor reimbursement.
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 competitive 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 one 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. excluding shipping and insurance to final bidder of items.
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.
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.