PLEASE READ THE CONDITIONS OF BUSINESS CAREFULLY BEFORE PLACING ANY BID ON A LOT IN THE ONLINE BUYING. BY REGISTERING TO BID/ BUY ONLINE, YOU AGREE TO THE TERMS AND CONDITIONS DESCRIBED IN THE E-CATALOGUE AND THEY WILL BECOME CONTRACTUALLY BINDING ON YOU.
THE CONDITIONS OF BUSINESS CONTAIN IMPORTANT NOTICES, EXPLANATION OF CATALOGUE, CERTAIN LIMITATIONS AND EXCLUSIONS OF LIABILITY FOR MASTERPIECE ACTS AS AGENT FOR THE SELLER.
PLEASE ENSURE THAT YOU HAVE UNDERSTOOD TO ANY CHARGES RELATING TO TAXES OR CHARGES FOR SHIPMENT MAY BE APPLIED TO YOUR PURCHASE (DEPEND UPON WHERE THE LOT IS LOCATED AT THE TIME OF PURCHASE).
BEFORE THE SALE
Description of lots
Our description of any lot, any condition report and any other statement made by us (orally or in writing) about any lot, including about artist, date, medium, dimensions or provenance are our opinion only and not to be relied on as a statement of fact. All dimensions and weights are approximate only.
All Lots are sold “as is”, in the condition they are in at the time of the sale. Condition reports may be available upon request. Condition reports should not be treated as a statement of fact. They only describe our opinion only as we are not professional restorer or conservator. Images in the catalogue may look different in colors or shades on the screen to how they look on physical inspection.
Estimates of the lot indicates prices recently paid at auction for similar property. It may vary and should not be treated as guarantee of the actual selling price. Estimates do not include any applicable taxes or charges relating to the lot.
REGISTERING TO BID
If you have not previously registered with MASTERPIECE and do not have a MASTERPIECE account yet, you will need to sign into the online registration with your existing username and password. Please provide any information and/or complete any necessary forms required. You will need to give us enough time to process and approve your registration. We may, at our discretion, decline to permit you to register as a bidder. You will receive email confirmations indicating that you have successfully registered online.
Online registration should be done at least 24 hours before the end of the sale. Please enter your maximum bid (the highest amount you would like to buy on the lot). The bidding platform will automatically follow the incremental price step. If your maximum bid is outbid, we will notify by email in order to increase your bid. Should there be similar amount to bid, the bid which was entered first will have priority.
DURING THE SALE
Connectivity and Technical Issues
MASTERPIECE will not be responsible to you for errors or failures to execute bids placed on the internet or on your mobile device, including, without limitation, errors or failures caused by: internet connection, computer, mobile device or system. We will not be responsible for any errors that may occur in the quality of digital images.
Discretion in relation to bidding / purchasing
MASTERPIECE reserves the right, in our absolute discretion:
- to reject your registration to bid;
- to reject, revoke or refuse to accept any bid to withdraw or divide any lot or combine any two or more lots;
- to restart or continue the bidding even if the bidding has finished;
- to determine the successful bidder, cancel the sale of the lot, or re-offer and re-sell the lot.
MASTERPIECE reserves the right to disable or deactivate your account at any time during the sale.
Online Bidding Process
You may view detailed lot descriptions and images from the e-catalogue. Should you need to discuss particular lot in more detail please contact our specialist at 62-21 3510808 or send us email to [email protected]
Once you have made a bid, you accept and agree that bids submitted in this way are final and that you may not, under any circumstances, amend, retract or revoke your bid. We are not responsible for any errors you make in bidding.
Bids may only be submitted between the dates and times specified in the Sale Particulars for that lot.
We will not accept any requests after this 24 hour period has expired nor will we accept any oral requests, unsigned or incomplete Absentee Bid Forms, or any written or emailed requests not on our Absentee Bid Form for the sale you wish to bid upon.
You may not cancel your bid after you have sent it to us. You may increase or decrease your bid prior to the expiry of the 24-hour period by sending us an updated Absentee Bid Form for the lot(s). We will notify you by email when: (a) your bid has been entered into our system; and (b) if you are the winner of the lot(s) that you have bid upon. To be eligible for this service, you must provide us with a valid email address where we can contact you.
Please be aware of the currency differences. You must pay for a lot in the currency of the sale. MASTERPIECE may show price currency in the estimate price for a lot. Any conversion stated is for guidance only and should not be treated as the fix exchanged rate. The currency rate will be valid until you will make your full payment of the purchase(s). We will not responsible for any mistake, omission or breakdown in providing these services.
All lots are subject to a reserve. The reserve cannot be more than the lot’s low estimate. MASTERPIECE reserves the right, in our absolute discretion, to lower the reserve of any lot up to 24 hours prior to the end of the sale where no bids have been placed on the lot.
Withdrawal of lots
MASTERPIECE reserves the right, at our complete discretion, to withdraw any lot from the sale, whether prior to or during the sale, and shall have no liability whatsoever with regard to such withdrawal.
Closing of a lot
A countdown clock is displayed for each lot on the lot description. There will be a bidding extension so that there will always be a 3-minute period between the last bid and closing of that lot. These extensions will continue indefinitely until there is no more bidding activity on the lot for a period of 3 minutes.
Successful Bids - Auctions
The highest bid will be the successful bidder when the lot closes. Winning bidders will receive an email notification of any successful bid. Only successful bidder will get an email notification of the purchases. We are not responsible to give any result of your bid unless you are the winning bidder. So we strongly advise you to check your email as soon as possible after the sale to get details of the outcome of your bid.
PAYMENT AND SHIPMENT
Successful bidder will receive an email confirmation for item(s) purchased. Then separately will be sent invoice for total charges along with the payment instruction and shipping quote.
Buyer’s Premium charged on every successful bid on the hammer price based on the type of auction as follow:
- Live Auction is 22% from hammer price plus additional 2% for service fee from the final bid
- Timed-Auction is 15% of hammer price
GST (Good and Service Tax)
GST will be applicable for Buyer belong in Singapore and for lots that delivered locally. GST is chargeable at the standard rate of 7% on:
a.) Buyers Premium
b.) Hammer Price if the seller is registered as a GST Vendor and has informed Global Auction Pte Ltd that his lots must be charges GST, then such lots will be indicated in the catalogue with the sign * and GST will be charged on the hammer price and will be payable by the buyer. Otherwise lots not indicated with the sign will not be charged GST.
Payment must be made within seven calendar days of the sale and may be made by telegraphic transfer direct to Masterpiece bank account. Please include your name and invoice number with your instructions to your bank. Your purchased will not be released until we have received full and clear payment of all amounts due
Credit Card Charges
Please note that if you pay for your purchase using a credit card issued outside the region of the sale, depending on the type of card and account you hold, the payment may incur a cross-border transaction fee. If you think this may apply to you, please check with your card supplier before proceeding to check-out. We reserve the right to charge you any transaction or processing fees which incur when processing your payment.
Provided that your purchased lots are paid for in full and clear funds by the payment deadline, MASTERPIECE will store your purchased lots free of charge until shipment. However, MASTERPIECE reserves the right in its sole discretion to charge storage fees on non-collected property following 90 days of receipt of payment.
MASTERPIECE will ship a lot only to the registered address that you provide at the time of registration. Please make sure that you provide a valid delivery address for all lots to be shipped.
You are responsible for paying any shipping charges. We do not responsible to any cost occur if the lot is returned to the MASTERPIECE due to your failure to provide a valid delivery address or the lack of a recipient to sign and accept delivery where necessary.
You may be able to collect your purchase(s) in person. If you would like to do so, please send us an email notification beforehand to schedule your collection at least 48 hours in advance. All payment of any charges must be cleared prior to collection.
To receive information about the auctions, upcoming events and more, please kindly contact our office at +62-21 3510808 or email to [email protected].