More information regarding hammer auctions can be found here.
Note that these terms for hammer auctions are a supplement to Auctionet’s general user terms. In the event of any discrepancies, Auctionet’s general terms and conditions shall prevail.
"Bidder" in hammer auctions refers to the person placing a bid.
The "Auction House" means the Auctionet-affiliated auction house where the hammer auction is taking place.
The Bidder must be registered as a customer with Auctionet to participate in the hammer auction. Additionally, Auctionet and the Auction House reserve the right to determine an upper limit regarding the Bidder’s total purchase amount.
A placed bid is binding for the Bidder until a higher bid is placed by another bidder. A placed bid cannot be withdrawn.
All bidding takes place in the Auction House's local currency.
In a hammer auction, the Bidder can participate through personal presence in the Auction House’s salesroom, telephone bidding (following special registration), live bidding (real-time bidding on the internet via the Auctionet platform) and commission bids (pre-bids via the Auctionet platform or by submitting written commission bids directly to the Auction House). Please note that type of bidding can vary from Auction house to Auction house.
It is recommended that a Bidder attends the auction in person, if possible.
If a Bidder instruct the Auction House in writing, the Auction House may execute commission bids on a Bidders behalf. Neither the Auction House nor its employees or agents will be responsible for any failure to execute a Bidder’s commission bid, unless the failure to do so is unreasonable.
As regards bidding, Bidders are advised not to rely solely on the webcast audio to place live bids as both the audio and video can lag behind the sale by a varying degree. Hence, only place live bids by the textual information displayed on the bidding window which will accurately reflect the current state of bidding.
The Auction House’s auctioneer has the right to unilaterally determine the bidding intervals and the minimum amount a bid must be increased by to be accepted (including consideration of received pre-bids). The auctioneer has the right to deviate from established bidding increments in the salesroom and during telephone bidding; however, bidders using live bidding may be prevented from placing bids that are less than a full increment above the previous bid.
The Auction House’s auctioneer has the right to disregard bids from a specific bidder.
The person who has made the highest bid at the fall of the hammer has entered into a binding agreement to purchase the item in question. The Bidder is responsible for verifying whether their bid led to a purchase.
In the event of unclear bidding or disputes during bidding, the Auction House's auctioneer decides which bid shall be given priority for the purchase or whether the bidding shall be restarted.
The auctioneer’s decisions under these terms are final, cannot be appealed, and can never form the basis for liability, even if the decision is incorrect and causes the Bidder damage.
Participation in a hammer auction remotely—via written commission bids, live bidding, or telephone—does not mean those bids were not placed at a hammer auction. Therefore, no right of withdrawal (cooling-off period) applies to hammer auctions, regardless of how the bid was submitted.