CONDITIONS OF SALE

 

1. All unredeemed pledges are sold subject to reserve prices.
2. The reserve prices of the unredeemed pledges of the pawnshop are the opening bids of the pawnbrokers.
3. Unredeemed pledges of the pawnshop shall be deemed to be bid for and shall be sold to the pawnbroker of the shop at the reserve prices if there are no bids from members of the public.
4, Members of the public who are interested to bid must produce their Identity Cards or passports to register and to obtain bidding cards and also for the purpose of facilitating payments directly to the pawnbrokers. Bidding cards are non-transferable.
5. Payments must be made directly to the pawnbrokers, in cash or crossed cheques, in Singapore dollars only. Cheques should be crossed, drawn on Singapore banks and made payable to the respective pawnshops from whom the successful bidders bid the pledges.
6. For payments made by cheques, the bidders can only collect or take possession of the pledges on the following Wednesday or the third working day after the auction, which ever is later. Those paying by cash can take immediate possession of the pledges.
7. In the event of non-payment immediately after a sale as described in Para 6 above, the bidder is deemed not only to have abandoned his/her rights for collections but may be pursued by the pawnbroker for recovery of the amount bid.
8. No bidder is allowed to retract his bidding; bidders who retract or successful bidders who refuse to pay shall be barred from future auctions.
9. All unredeemed pledges are sold "AS THEY LIE" on an "AS IS WHERE IS" basis with all faults and errors of descriptions. Successful bidders shall be deemed to have inspected the unredeemed pledges during viewing time and be satisfied with the unredeemed pledges bid for. Any description, quantity and other information of the unredeemed pledges stated in the auction sale catalogues are meant only for the convenience of the bidders. The auctioneers/pawnbrokers shall not be responsible for any deficiency in quality, quantity, weight, measurement and misdescription.
10. All unredeemed pledges remain redeemable by the pawners up to the time of auction. Any lot that is redeemed before the auction sale shall be treated as withdrawn from the auction sale.
11. The pawnbroker and the auctioneer shall not be responsible for any unredeemed pledge from the time the unredeemed pledge is sold.
12. Neither the pawnbrokers nor the auctioneer shall be responsible for any accident resulting in injury or loss of life before, during and after  the viewing, and before, during and after the auction sale.
13. The pawnbroker and PROSPERCO INTERNATIONAL PROPERTY CONSULTANTS PTE LTD and their staff have not made any warranty or representation and shall not be responsible for any representation, warranty or statement in the advertisements or catalogues/circulars/pamphlets/flyers.
14. The auctioneer's decision shall be final in the event of a dispute during the viewing or during auction.
15. As guide, incremental bids shall generally be fixed at $5, $10, $20, $50, $100 & $200 for reserve prices below $100, between $100 to $199, $200 to $999, $1,000 to $4,999, $5,000 to $9,999 and above $10,000 respectively. The auctioneer shall have the discretion to accept any other incremental bids