Terms and Conditions

1. The Auctioneer

Heirloom Auctions Cayman acts as agent for the Vendor and accepts no responsibility for any default by the Vendor or the Buyer.

2. The Highest Bidder

Subject to any reserve price, the highest bidder shall be the Buyer. Any dispute shall be settled by Heirloom Auctions Cayman, whose decision shall be final. Heirloom Auctions Cayman reserves the right at any time to re-open bidding or withdraw a lot from sale.

3. Regulation of Bidding

Heirloom Auctions Cayman reserves the right to refuse any bid and to regulate the bidding as it sees fit. Any bid acknowledged and relied upon by Heirloom Auctions Cayman may not be withdrawn.

4. Rights of Heirloom Auctions Cayman and the Vendor

Heirloom Auctions Cayman and the Vendor reserve the right, without giving reason, to:

1. withdraw any lot from sale prior to the auction closing;
2. offer part only of any lot described in the catalogue;
3. combine or separate lots as appropriate;
4. keep the existence and amount of any reserve price confidential;
5. bid on behalf of the Vendor up to the reserve price;
6. offer any unsold lot for private sale following the auction;
7. refuse admission to or remove any person from the auction.

5. Buyer Bids as Principal

Every Buyer is deemed to bid as principal unless, prior to bidding, they disclose in writing to Heirloom Auctions Cayman that they are bidding on behalf of a named principal and provide satisfactory written authority to do so.

6. Registration

All bidders must register with Heirloom Auctions Cayman and provide a valid credit card prior to placing any bid. Heirloom Auctions Cayman reserves the right to request proof of identity. Registration does not guarantee acceptance as a bidder.

7. Buyer's Premium

A buyer's premium of 25% is added to the hammer price of every lot. This amount is payable by the Buyer in addition to the hammer price and forms part of the total purchase price.

8. No Sales Tax

No GST, VAT, or sales tax is applicable to sales conducted by Heirloom Auctions Cayman. The Cayman Islands is a tax-neutral jurisdiction. The total amount payable by the Buyer is the hammer price plus the buyer's premium.

9. Catalogue Descriptions

1. All descriptions, statements, and estimates provided in the catalogue or on the website are statements of opinion only and are not representations of fact.
2. Many lots are of an age or nature that precludes them from being in perfect condition. References to condition in a lot description are provided for guidance only. The absence of such a reference does not imply that a lot is free from defects.
3. Buyers must satisfy themselves as to the condition and nature of any lot prior to bidding. Condition reports may be requested via the lot enquiry function.

10. Exclusion of Warranties

1. All lots are sold as seen. No error, misdescription, or deficiency in quantity shall invalidate a sale.
2. No warranty, express or implied, is given by Heirloom Auctions Cayman or the Vendor in respect of any lot beyond that required by applicable Cayman Islands law.
3. Bidders must satisfy themselves by inspection or otherwise as to the nature and condition of any lot and accept the same with all faults, patent or latent.

11. Payment

1. Invoices are issued to successful bidders immediately upon auction close.
2. Full payment must be received within 48 hours of invoice. Accepted payment methods: bank transfer (details on invoice) and credit card (subject to a 1.5% surcharge).
3. If payment is not received within 48 hours, Heirloom Auctions Cayman is authorised to charge the full invoice amount, including buyer's premium, to the Buyer's registered card.
4. A late payment fee of 5% applies to any outstanding balance remaining after the 48-hour period, compounded weekly.
5. Title to any lot does not pass to the Buyer until payment has been received in full and all funds have cleared.

12. Collection

1. Items are collected from the property at which the auction contents are located. The full property address and collection schedule are provided to successful Buyers upon payment confirmation.
2. Buyers must collect their purchased lots on the designated collection day. Time is of the essence.
3. Items not collected on the designated day are subject to a storage fee of CI$10 per lot per day.
4. Heirloom Auctions Cayman does not offer a shipping, packing, or delivery service. Buyers are solely responsible for arranging and funding their own transport.
5. Any removal of lots is at the Buyer's risk. The Buyer shall be responsible for any damage caused to the property during collection.
6. Lots not collected within a reasonable time following the collection day may be removed and stored at the Buyer's expense. All costs incurred in connection with such removal and storage shall be payable by the Buyer.

13. Risk

A purchased lot is at the Buyer's risk in all respects from the close of the auction, whether or not payment has been made. Heirloom Auctions Cayman and the Vendor shall not be liable for any loss or damage of any kind thereafter.

14. Remedies for Non-Payment or Failure to Collect

If a Buyer fails to pay or to collect any purchased lot within the stipulated time, or if any payment is dishonoured, Heirloom Auctions Cayman may, at its absolute discretion and without further notice:

1. forfeit any deposit or part-payment made;
2. resell the lot by auction or private sale, with any shortfall and associated costs payable by the defaulting Buyer;
3. store the lot at the Buyer's expense until payment is made in full;
4. charge interest on any outstanding amount at a rate of 18% per annum, calculated daily;
5. pursue the Buyer for damages for breach of contract;
6. exclude the Buyer from future auctions.

15. Liability

All persons participating in a Heirloom Auctions Cayman auction do so at their own risk. Heirloom Auctions Cayman shall not be liable for any damage, loss, or injury of any kind except where caused by its own direct negligence.

16. Governing Law

These Terms and Conditions are governed by and construed in accordance with the laws of the Cayman Islands. All parties submit to the exclusive jurisdiction of the courts of the Cayman Islands.

17. Privacy

Personal information provided at registration is held in accordance with Heirloom Auctions Cayman's Privacy Policy and is used solely for the purposes of auction administration and communication.

18. Notices

Any notice given under these conditions shall be in writing and delivered by email to the address provided at registration.

Interpretation