Roman Auction PTY LTD - Terms and Conditions

Effective Date: 15 May 2025

These Terms and Conditions govern all online auctions conducted by Roman Auction PTY LTD (ACN 685 414 920), an Australian registered company, on behalf of itself and its consignors ("Vendor"). By registering and participating in any auction on the Roman Auction platform, you ("Bidder" or "Purchaser") agree to be bound by these terms.

1. Registration and Eligibility

1.1 You must be at least 18 years old and legally able to enter into binding contracts.

1.2 Registration is mandatory to bid and requires accurate contact information. You agree to maintain your details and not impersonate another person or provide false information.

1.3 Roman Auction reserves the right to approve, reject, or disable your account at any time.

2. Auction Types and Bidding

2.1 Roman Auction conducts both live and timed online auctions.

2.2 Timed auctions: Each lot closes at a specific time. Bids placed in the last 2 minutes extend the lot timer by another 2 minutes.

2.3 Live auctions: Bids are accepted in real time. Pre-bidding may be allowed.

2.4 MaxBid: You may place a maximum bid that Roman Auction will incrementally increase on your behalf.

2.5 Bids cannot be retracted once placed. Fraudulent or manipulative bidding is strictly prohibited.

3. Reserve Price

3.1 Lots may have a confidential reserve price.

3.2 If bidding does not meet the reserve, Roman Auction may contact the highest bidder to negotiate a sale.

4. Winning Bids and Sale Contract

4.1 The highest accepted bid that meets the reserve is the winning bid.

4.2 Upon the fall of the hammer (or lot close), a binding contract is formed between the Purchaser and the Vendor.

4.3 Risk transfers to the Purchaser at the fall of the hammer. Title transfers upon full payment.

5. Buyer’s Premium and Payment

5.1 A 20% buyer’s premium is applied to the winning bid.

5.2 Accepted payment methods:

- Bank Transfer (1% fee)

- Credit/Debit Card (3.5% fee)

- PayPal (7% fee)

5.3 Full payment must be received within 15 business days. Late payment may incur 24% annual interest.

6. Delivery and Collection

6.1 Standard delivery fees:

- AUD 25 for shipping within Australia (3–10 business days)

- AUD 35 for international shipping (10–20 business days)

6.2 Optional insurance is available at 1% of the item’s value.

6.3 Buyers are responsible for providing accurate delivery information. Failed deliveries or redeliveries will be charged.

6.4 Goods must be collected within 7 days unless otherwise arranged. Storage fees of AUD 22/day may apply after that.

7. Warranty and Returns

7.1 All items are sold “as-is, where-is.” Descriptions and photos are provided for guidance only.

7.2 Authenticity is guaranteed unless stated otherwise.

7.3 No returns are allowed unless:

- A material misdescription occurred, and

- The item was not available for inspection, and

- The return request is submitted in writing within 3 business days.

7.4 Approved refunds may be issued via credit or original payment method.

8. Dispute Resolution

8.1 All disputes are first handled by Roman Auction’s support team.

8.2 If unresolved, the matter may be escalated internally or through mediation.

8.3 Roman Auction’s decisions in auction conduct are final.

9. Liability

9.1 Roman Auction is not liable for indirect, incidental, or consequential damages.

9.2 We are not responsible for third-party descriptions or errors by Vendors.

9.3 In case of system or software failures, Roman Auction may cancel or reschedule affected lots.

10. Legal Compliance

10.1 All sales are governed by Australian law. Jurisdiction is Sydney, NSW.

10.2 You must comply with local laws related to auctioned goods, including import/export regulations.

10.3 Buyers are responsible for any customs, taxes, or licensing required in their country.

11. Vendor Terms and Conditions

11.1 Vendors warrant they are the unencumbered owner of the assets and agree to indemnify Roman Auction against any claims related to title, defects, or legal encumbrances.

11.2 Vendors must provide accurate item descriptions and disclose any known faults, defects, or modifications.

11.3 Vendors must not bid on their own assets or instruct others to do so. Any breach may result in penalties equal to commission and buyer premiums on the reserve or market value.

11.4 All transport and preparation costs are the Vendor’s responsibility unless agreed in writing. Roman Auction may deduct approved costs from sale proceeds.

11.5 Vendors agree not to cancel insurance on items until settlement is complete or assets are returned.

11.6 Unsold assets must be collected within 7 days of notice. Storage fees of AUD 22/day apply thereafter. Items uncollected after 60 days may be sold to recover costs.

11.7 Vendors agree that Roman Auction may use third-party inspectors and is not liable for any damage occurring during inspections.

11.8 If an item is falsely represented as “Matching Numbers,” Roman Auction may withdraw the lot and retain applicable fees.

11.9 All assets will be stored, sorted, and sold at Roman Auction’s discretion to achieve the best sale outcome.

12. Definitions

- "Lot": An item or group of items offered for auction.

- "Vendor": The consignor or seller of the Lot.

- "Purchaser": The winning bidder.

- "Buyer’s Premium": A fee added to the winning bid.

13. Contact Information

Roman Auction PTY LTD

Avaya House, Level 9, 123 Epping Rd, Macquarie Park, NSW 2113

info@romanauction.com.au

www.romanauction.com.au

Date of Last Revision

15 May 2025