HAMMERSITE'S "CLASSICAL ONLINE AUCTION"
Bidder's and Buyer's Guide

 

1. Participation - terms and conditions

 

User registration is conditional on acceptance of the Terms and Conditions:

Any person wishing to bid, buy, or sell at a Hammersite auction must accept the terms and conditions set in this agreement.

By registering to bid, buy or sell on the auction, the user agrees to accept all such terms and conditions and to abide by them.

Notwithstanding, Hammersite Ltd. reserves the right to refuse registration at its sole discretion.

Hammersite Ltd. reserves the right to change such terms and conditions, to add new ones, or to omit any of them at its discretion. Any such changes, additions, and omissions will become effective on the date set by Hammersite, provided they were posted on Hammersite’s website for 10 days prior to said date.

If the registered user does not accept such changes, additions, and omissions, he should not continue to use the site. By continuing to use the site after the said date, the user agrees to accept such changes, additions, and omissions and abide by them.

 

1.1 Eligibility to use the Auction:

Bidding and buying is limited to persons who may lawfully form legally binding contracts under applicable laws and have been properly registered at the auction’s site. Auctions are not available to minors, as legally defined in their countries of residence.

The use of the auction is only available to individuals and others who have good financial standing with a certified bank.

Hammersite reserves the right to deny registration to persons who have not met the terms of eligibility.

 

1.2 Registration:

Any person wishing to bid, buy, or sell ("the user") at Hammersite’s "Classical Online Auction" ("the auction") must register by filling out the online Registration Form.

By Registering to bid, buy or sell on the auction, the user agrees to accept all the terms and conditions stipulated in the Buyer's Guide and to abide by them.

Hammersite reserves the right to deny registration to persons who have not met the terms of eligibility.

 

1.3 Truthfulness of Information Provided by the User:

Information provided by the user at registration  and such that is updated or modified by him at any time thereafter, must be truthful. The user must register by his legal name, provide his current address, phone number, e-mail address, and valid credit card information or ID number (where and when applicable).

 

1.4 Binding Commitment to Conclude the Transaction:

The bidder, whose last bid is declared by Hammersite as the winning bid ("hammer price"), agrees to take possession of and title to the auctioned item and remove it from Hammersite’s or the seller’s premises within the period and according to the terms specified in "Taking Possession and Shipping ".

The buyer will make all payments due to seller and to Hammersite within the period and according to the terms specified in Buyer’s premium and Payment.

 

2. Bidding:

 

2.1 Logging-In:

Once the user’s initial registration has been approved, he/she can log-in by entering his/her email and password.

 

2.2 Regular Bidding:

Hammersite sets the starting bid amount at the beginning of the auction (it may be equal to the reserve price or lower than it, but very rarely higher).

The first bidder clicks the "Place bid" button. With each new bid the current bid is increased by the bidding incriments  and the next bid is accordingly increased as well.

If no one else places a bid by the end of the auction, he becomes the "highest/winning bidder" and is entitled to purchase the lot for the starting bid amount. That is, unless the starting bid, which is the highest bid, did not meet the reserve price. As long as the reserve price has not been met or exceeded a notice will be posted next to that lot’s bidding window stating that "The reserve price has not been met". If a bidder places a bid equal to or exceeding the reserve price, a notice on the lot page will state "Reserve price has been met".

The current bid amount is the highest placed so far (at the beginning of the auction it is thestarting bid). Once the first bidder clicks the "Place bid" button, the "Next bid" amount is shown on the bidding window. When the next bidder clicks the "Place bid" button, he becomes the "Highest bidder", until the first bidder or another bidder places a higher bid, and so forth.

Each bidder, whose bid is superseded by a rival bid, will be automatically notified by e-mail and invited to place a new bid if he/she so wishes.

The "Highest bidder" at the time the auction closes becomes the "Winning bidder". If his last bid is equal to or exceeds the reserve price, he is the lucky (prospective) owner of the object.

Hammersite auctions do not close as long as active bidding is going on. If a bid is place during the last minute of an item's auction, the item's closing clock will add 3 minutes to its time. For example, if an item is scheduled to close at 1:00 but a bid is placed at 12:59, then the item's closing time will change to 1:03. This extension is designed to ward off sniping (the process of placing a winning bid at the last possible moment of a timed auction, giving other bidders no time to outbid the sniper).

Upon completion of an auction the successful/winning bidder will be notified by e-mail.

 

2.3 Automatic Proxy Bid – "Maximum Bid":

A proxy bid lets a bidder set a maximal price he/she is ready to pay for the auctioned item without having to participate personally in the bidding process. The system will bid for him/her as long as that maximal bid has not been reached.

The automatic proxy system checks each time a rival bid has been placed and compares it to the maximum proxy bid. The system outbids the rival bids as long as that maximum bid is higher than any of them.

If the maximum proxy bid is the highest bid by the time the auction ends, it becomes thewinning bid.

The winner will pay the last current bid, even if it is lower than the maximum proxy bid(provided the reserve price, if there is one, has been reached or exceeded).

Once a rival bid supersedes the maximum proxy bid, the system will notify its bidder by e-mail and let him/her place a new bid if he/she so wishes.

If two or more identical proxy bids are placed, the one placed first will take priority. The other proxy bidders will be notified that they have been outbidded.

The bidder’s maximum bid is private and confidential and not accessible to anyone.

 

2.4 Reserve Price:

Unless a seller specifies a reserve price (the minimal hammer price he is willing to sell his item for), his auctioned item is without reserve.

The seller sets a reserve price in coordination with Hammersite.

Hammersite warrants that a seller-specified and Hammersite-approved reserve price will be the minimum price for which the item will be sold. If that reserve price has not been reached or exceeded, the item will remain unsold.

The reserve price will remain undisclosed.

Despite the above written, Hammersite is permitted by its own discretion, to sell the items under the reserve price, on condition that the seller will receive the full amount of the reserve price of the item, minus the commission.

 

2.5 Bidding Increment:

Hammersite sets the bidding increment for each single lot/item. The size of the increment is determined by the current bidding price on the lot/item (the higher the price, the higher the increment). Bid increments may be changed by Hammersite at any time without notice. The current set of bid increments is:

table increments

 

2.6 Bid Retraction and Purchase Cancellation:

Bid retractions are not possible. When placing a bid the buyer will be asked to confirm his/her bid, at which point the buyer may cancel the bid. After pressing the "Confirm bid" button, the bid is irrevocable and the bidder is liable for the bid.

As stated on the bid confirmation page, auctions are not subject to "remote sale" laws and purchases cannot be cancelled.

 

3. Payment and Delivery:

 

3.1 Payment:

The buyer must pay Hammersite the hammer price amount within 7 days of the end of the auction. In addition he must pay Hammersite the buyer’s premium (commission), VAT or sales tax, and charges for services rendered if and where applicable.

Accepted payment methods are direct transfer to Hammersite’s bank account, cashier’s check, wire transfer and cash (up to $2,000 or 8,000ILS)

Personal checks will be accepted from buyers of good standing.

Payment via credit card for any amount will be accepted with a 1.2% commission charge. Payment by American Express is accepted with a 3% commission charge.

 

3.2 Buyer’s Premium and VAT:

A buyer’s premium (commission) will be added to the hammer price, together with VAT or sales tax where and whichever is applicable.

 

Buyer's Premium Rates:                                                                                                  

20% flat.

 

VAT (value added tax) will be added to the premium amount (where applicable).

 

3.3 Taking Possession and Delivery:

All merchandise purchased must be paid for and removed from Hammersite’s premises in Tel Aviv or New York within seven days from the auction closing, unless other arrangements have been made with Hammersite.

 

3.4 Remedies:

If any lot is not paid for in full, or not removed within 7 days from the auction closing, Hammersite will be entitled to exercise against the buyer one or more of the rights and remedies it thinks fit. These include, inter alia, the right to rescind the sale, to proceed for damages for breach of contract, to resell the lot, to charge the buyer with expenses, costs interest and/or linkage to Cost-of-living index, to retain that or any other lot sold to the buyer, to apply any amount due to the buyer towards settlement of the price commission.

If items are not collected within 7 days from the auction closing, the buyer will be charged for storage and insurance at a rate of 1% of the total purchase price per month.

 

3.5 Packing and shipping:

Upon request, Hammersite will provide a quote from reputable shipping contractors for packing, shipping and insurance of items bought.

International deliveries also require issuing legal export papers.

Hammersite will pack and dispatch items only once full payment for the items and shipping costs has been received.

 

Affiliates Guide - How it works

 

The Affiliate Program applies to all registered Hammersite customers. Its allows customers to receive a monetary bonus for referring friends to Hammersite.

Participating is easy!

All you need to do is email an item you think a friend might be interested in through this link, which appears on each item page:


 

If this friend subsequently registers to Hammersite and makes any purchase in the course of one year, you will be awarded 10% of the commission on their purchase.

You will receive a bonus for each purchase a referred friend makes for the duration of that year. An email notification will be sent to you each time a bonus amount is added to your account.

 

In order to protect our clients’ privacy and the anonymity of the bidding process, you won’t be notified of any details regarding the lot for which you were awarded a bonus and will only know of the final sum that has been added to your account.

You can view your bonus sum accumulation in “My Account Settings” tab. If you wish to use your bonus, simply mark the checkbox next to the sum and your total bonus amount will be automatically subtracted from your next invoice.

Alternately, you could use your bonus sum instead of consignment commission in case you are selling items through our site.

 

Please note that you cannot divide the bonus sum to several purchases. Each time you mark the checkbox, the entire sum will be cleared.

If the sum in your bonus is larger than the sum of your purchase, you’ll be given credit for the appropriate amount to be used in your future purchases.