The following definitions, interpretations and expressions shall apply to all Contracts, references
and business dealings with BID4U.
Click on a letter for the words that begin with ...
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Hammer Price
means the highest bid (in Australian dollars) for the greatest monetary amount for a Lot that is accepted by the Auctioneer on the Fall of the Hammer. In other words, the Hammer Price is the knockdown price of a lot which may either include or exclude GST, depending on the Auctioneer’s terms and conditions of sale.
The Hammer Price does not include:
- Any buyer’s premium;
- Any penalties that may be levied or imposed by the Auctioneer and/or by any other party for any reason, including for default of an auction condition;
- Bid 4 U’s professional service fees;
- Lot dismantling, transport, removal, delivery, assembly, insurance and security costs;
- Any other additional fees, charges or taxes which may be payable, such as stamp duty, luxury car tax or license fees.
Highest Bid
means a bid (in Australian dollars) for the greatest monetary amount advanced for a lot at auction on the Fall of the Hammer that is accepted by the Auctioneer, irrespective of whether the bid reaches the reserve price or the lot is sold.
Highest-Bidder
means person who advanced the highest bid (in Australian dollars) for the greatest monetary amount for a lot at auction on the Fall of the Hammer that is accepted by the Auctioneer, irrespective of whether the bid reaches the reserve price or the lot is sold.
| Note |
1. | Where the highest bid exceeds the reserve price the highest bidder automatically becomes the purchaser. |
| 2. | Where the highest bid fails to reach the reserve price the highest-bidder is normally afforded the opportunity to negotiate the purchase of the Lot with the Auctioneer after the auction. If successful, the highest-bidder then becomes the purchaser. |
Horse
means stallions, mares, foals, fillies’ colts and geldings.
HME
is an acronym for Heavy Mobile Equipment, such as a haul pack and large wheel loaders.
These definitions and interpretations may be subject to review and change from time to time
