Terms & Conditions for Buying at Fortuna Auction
By bidding with Fortuna Auction, you are agreeing to the following terms and conditions:
Hammer totals $200,000 and under are subject to 25% buyer premium over hammer price.
Hammer totals of $200,001 to $3,000,000 are subject to 20% buyer premium over hammer price.
Hammer totals of over $3,000,000 are subject to 12% buyer premium over hammer price.
*A 2% service charge will be applied for credit card payments. We do not accept credit card payments for first-time international buyers, or for amounts exceeding $10,000.
Conditions of Sale for Fortuna Auction
These are the conditions of sale for bidding and buying from Fortuna. These conditions and the contents listed are subject to change by posting of notices online before and up to the sale. We will offer properties in lots. A lot may consist of a single item or a group of items as we may determine. By bidding at any of our auctions, you agree to be bound by the following conditions of sale:
1. Property sold “As Is”
All property is sold “As Is” and without any express or implied representation or warranty by us. The absence of reference to the condition of property does not imply perfect or imperfect condition. All weights and measurements are approximate. All statements contained in the catalog or in any bill of sale, condition report, invoice, or elsewhere are qualified statements of opinion and not representations or warranties. Fortuna Auction does not guarantee the working condition of any watches sold. All watches and timepieces are sold without warranty.
2. Property Available for Inspection
It is your responsibility to inspect or request additional photographs or condition reports before bidding to determine your level of interest. We encourage inspection to determine property’s condition.
3. Property Withdrawal
We reserve the right to withdraw any property before sale and cannot be held liable for any such action.
4. Right to Reject Bids
We reserve the right to reject any bid. If the auctioneer decides an opening bid is below the value of the lot offered, the auctioneer may reject that bid and withdraw the lot from sale.
5. Lots With Reserves
We may offer lots subject to a “reserve,” which is a confidential minimum price below which a lot will not be sold.
6. Copyrighted Material
The copyright in the text of the catalog, photographs, digital images and illustrations belong to Fortuna or its licensors. You will not reproduce or permit anyone else to reproduce such text, photographs, digital images, or illustrations without Fortuna’s express written consent.
7. Bidding Procedure
The auctioneer may advance bidding in any manner. He may decide, or withdraw or divide any lot or combine two or more lots. In event of a bidding dispute, the auctioneer has final discretion to determine the successful bidder, cancel sale, or resell or reoffer the disputed lot. Consignors are not allowed to bid on their own items.
8. Absentee and Phone Bidding Not Guaranteed
We may permit and execute absentee bidding including written bids, telephone bidding and internet bidding as a convenience to you if you are unable to attend the auction. We are not responsible for any errors related to this type of bidding. You further agree to hold us harmless should we fail to execute.
9. Online Bidding
Fortuna may offer clients the opportunity to bid online via BidSquare, LiveAuctioneers, Invaluable, or any other online platforms for selected sales, By participating in a sale via any of these online platforms, you acknowledge that you are bound by these Terms and Conditions as well as the terms stipulated by the online platform(s). An additional fee of 3%-5% (depending on which platform) applies on lots won online.
10. Title to the Property
Title passes of the fall of the auctioneers hammer to the highest acknowledged bidder subject to these conditions of sale. The successful bidder will immediately pay us the full purchase price.
11. Buyer’s Premium and Tax
The total purchase price to be paid for each lot of property by you is the amount of the successful bid price plus premium. Unless exempt by law, all purchases (including buyer’s premium) are subject to local sales tax.
You will pay the total purchase price for lots won by cash, check, money transfer, or credit card (Visa, Mastercard, Discover, or American Express). We reserve the right to hold the merchandise until cleared or certified funds are received. The buyer will be charged $25 for each check returned for insufficient funds.
13. Property Removal
You must pay for and remove all purchased lots, at your expense. Clients are responsible for shipping costs or cost affiliated with receiving property. If client does not remove purchased property within 20 days of sale, we may consider that property abandoned and rescind the sale on behalf of property owner.
14. Purchaser in Default
If any of the above conditions of sale is not complied with, you will be in default, and you agree that we have the right to pursue any remedies against you, including but not limited to:
a) Holding you liable for total purchase price including buyer’s premium
b) Cancelling the sale of that or any other lots sold to you and reselling property in any manner we determine without reserve.
c) Rejecting any further bids by you or requiring you to place a deposit with us before accepting your bids; or
d) Effecting a combination of any of the aforementioned as well as any other legal or equitable remedies we may have against you.
15. Limitation of Liability
In no event will our liability to you exceed the purchase price actually paid. If any part of these Terms and Conditions is for any reason involid or unenforceable, the rest shall remain valid and enforceable.