DEFINITIONS & INTERPRETATIONS

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 ...

A |  B |  C |  D |  E |  F |  G |  H |  I |  J |  K |  L |  M |  N |  O |  P |  Q |  R |  S |  T |  U |  V |  W |  X |  Y |  Z | 


 

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 normally becomes the under-bidder.  The under-bidder is then usually afforded the opportunity to negotiate the purchase of the Lot with the Auctioneer after the auction. If successful, the under-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.

 

 Back to Top | Back to Home

 

These definitions and interpretations may be subject to review and change from time to time 


 

*MTA Member Bidding Service DL: 18363*