IMPORTANT NOTES & RULES TO ALL BIDDERS

 

Registration of Bidders

1.

You are required to register at our registration desk for entrance to the viewing room and participate in the auction. Please produce your identity card/passport/any acceptable means of identification for registration.

2.

A numbered bidding card will be issued to you. Use this card for your bidding. This card is NON-TRANSFERABLE. A new bidding card is required for every auction.

Physical Inspection of Lots

3.

Viewing starts at 9.30 am and ends at 12.30 pm of each day. Auction starts at 12.45 pm.

4.

Prospective bidders can apply to the auctioneers, on a first-come-first-serve basis, to physically examine any lot with a reserve price above S$1,000/- and ALL watches, irrespective of the value, at the time of viewing. The physical examination is subject to the following conditions:

(i)

Each bidder shall be allowed to inspect not more than 5 lots at any one time, and subject to a maximum inspection time of not more than 10 minutes;

(ii)

Inspection should only be carried out at the showcase of the respective pawnshop. No bidders shall be allowed to take the auction lots away from the showcases for inspection;

(iii)

There shall be no trying/wearing, no winding and no shaking of watches;

(iv)

Bidders are allowed to use diamond testers to test the diamonds, subject to the condition that the auction lot is handled with care;

(v)

Bidders shall be allowed to weigh the auction lot, subject to the condition that the auction lot is handled with care. For multiple item lots comprising gold and non-gold items, bidders are allowed to weigh the lots as a whole excluding the non-gold item. However, should the lot comprises a variety of gold purities, the bidders are allowed to weigh them separately.

Reserve Prices are the Opening Bids

5.

The reserve prices of the unredeemed pledges of the respective pawnshop are the opening bids of the pawnbrokers. These unredeemed pledges shall be sold to the pawnbrokers at the reserve prices if there are no bids from members of the public. Reserve prices are shown in the auction sale catalogues.

Conducting of the Auction Sale

6.

The lots will be offered for sale by our auctioneers on a page-by-page basis in the order as indicated in the auction sale catalogues. Bidders shall alert the auctioneers by raising their bidding cards and calling out the lot numbers as well as their bid prices. Bidders are advised to be alert and pay close attention to the order of sale. Our auctioneers will turn the page when there are no more interest for any lots in the page. Thereafter our auctioneers will not accept any offer for lots in the previous pages as they shall be deemed to be uncontested and considered sold to the pawnbrokers.

Proxy Bidding

7.

Bidders may submit proxy bids to the auctioneers via a Proxy Bidding Form prior to the commence of the auctions. Proxy Bidding Forms are obtainable from the auctioneers. Bidders are allowed to submit up to a maximum of 5 proxy bids at each auction and such proxy bidding are subject to the terms and conditions as stated in the Proxy Bidding Form.

All Lots Sold on an "AS IS WHERE IS" basis

8.

The unredeemed pledges are sold on an "AS IS WHERE IS" basis with all faults and errors of description. The successful bidders are deemed to have inspected the unredeemed pledges, be satisfied with same and purchase them at their own risks. The auctioneers/pawnbrokers shall not be responsible for any deficiency/discrepancy in quality, quantity, weight and misdescription. The auctioneers/pawnbrokers have not made any warranty or representation in respect of the unredeemed pledges put up for sale.

9.

Successful bidders should carefully check their purchases at the time of payment to avoid any dispute thereafter. If on inspection at the time of handing over, they suspect that the purchased items are "fake", they should bring this to the attention of the auctioneers immediately before they leave the auction room. No complaints shall be entertained after the bidders have left the auction room.

Methods of Payment

10.

All lots successfully bid for will have to be paid immediately after the auction sale of the unredeemed pledges of each pawnshop.

11.

Payments must be made directly to the pawnbroker, either in CASH or by crossed cheque, in Singapore dollars only. Cheques should be crossed, drawn on Singapore banks and made payable to the respective pawnshops from which the successful bidders bid the pledges.

Private Sales are Prohibited

12.

There shall be no private sales of unredeemed pledges during and before the conclusion of the auction sale. No member of the public/bidder shall be allowed to enter the viewing room after 12.30 pm. Anyone found doing so shall be barred from our auctions.

Making Our Auctions Pleasant & Profitable For Everyone

13.

Visitors and bidders are advised to refrain from talking with each other in a manner that will disrupt the auctions. All handphones brought into the auction room shall be switched to the silent/vibrating mode. All handphone calls shall be made or answered outside the auction room.

14.

Activities such as gambling, playing card games and smoking are strictly forbidden in the reception/registration area, viewing room and auction room. Visitors and bidders are not to engage in any activities that cause disruptions to the conduct of the auction or cause disturbance to the other bidders.

15.

There shall be no littering, such as leaving behind empty mineral water bottles, empty soft-drink cans, plastic coffee cups, newspapers, bidding cards and copies of the used sale catalogues in the reception area, viewing room or auction room.

16.

The auctioneers and their staff shall enforce a proper dress code for all visitors i.e. visitors wearing slippers and/or singlets are not allowed to buy the sales catalogues, register or permitted to enter the viewing room and/or auction room.

17.

The coffee/tea are reserved for the consumption of pawnbrokers and their staff, CISCO guards and the auctioneer's staff only.

18.

Visitors and bidders who openly violate the above rules in spite of repeated reminders shall be barred from our auctions. The auctioneers shall have the right to bar any person from the auction room without giving any reason whatsoever.

Conditions of Sale

19.

Bidders are advised to read the Conditions of Sale specified in the auction sale catalogues before they participate and bid in the auction.

Auction Sale Catalogues

20..

Auction sale catalogues of each pawnshop are displayed on top of the glass showcases. Members of the public can obtained the sale catalogues from the auctioneers at a nominal charge of S$1 per copy.