1.1 Binding Agreement: By registering and participating in an auction, you acknowledge that you have read, understood, and agreed to these Terms of Sale.
1.2 Auction Authority: Central Houston Auction LLC acts as an agent for the seller and has full discretion in conducting auctions, including determining the order of sale, withdrawing items, and resolving disputes.
1.3 Right to Refuse Participation: We reserve the right to deny any individual or entity participation in our auctions at our discretion.
2.1 Consignment Agreement: Sellers must sign a consignment agreement outlining commission rates, fees, and terms before their items are accepted for auction.
2.2 Item Authenticity & Ownership: Sellers must guarantee that they have legal ownership of the items and that all descriptions provided are accurate. Any misrepresentation may result in withdrawal and legal action.
2.3 Reserve Price: Sellers may set a minimum reserve price for their items. If the highest bid does not meet the reserve, the item may remain unsold.
2.4 Seller Payments: Proceeds from sales will be paid to the seller within 7-14 business days after the auction, subject to buyer payment clearance.
3.1 Bidder Registration: All buyers must register and provide valid identification before bidding.
3.2 Bidding is Binding: All bids placed are legally binding. Once a bid is placed and accepted, the buyer is obligated to complete the purchase.
3.3 Buyer’s Premium: A 10% to 30% buyer’s premium (a percentage of the final bid price) will be added to the winning bid.
3.4 Payment Terms: Winning bidders must pay in full within Certified Cheque with 48 hours after the auction ends. Acceptable payment methods include Credit Cards, Wire transfers, Cash, Bank Wires and Money Order.
3.5 Failure to Pay: If a buyer fails to make full payment within the given time, their winning bid may be canceled, and the item may be re-listed or offered to the next highest bidder. The buyer may also be banned from future auctions.
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