Auction 22B - Luxury and Collectible Watches

Watch Collect (hereinafter "the Auction House") holds auctions in which the Auction House serves as a representative on behalf of the item sellers and the buyers (the bidders or the winning bidders). The auction house appoints an auction manager who holds the exclusive authority to determine the following: who may participate in the auction, who won an item in the auction, cancel the sale of any item, add an item to the auction, place any item for resale and add or omit data concerning the items offered in the auction. Participation in the auction is conditional on the bidder's registration before the auction and the approval of the auction house. The bidder must read the terms and conditions. Registering to participate in the auction constitutes confirmation that the bidder has read and agreed to the Terms and Conditions. For each auction, the auction house will present a catalogue detailing the known data about each item. The item's orders in the sale, its description, the manufacturer's name, estimate (when possible), a photo or photos depicting it and other relevant details when possible. The data provided regarding the items such as estimates, description, reference, provenance, literature, photographs, any other information contained in the catalogue, invoice and receipts or stated in the auction or the preview by the auction house does not impose any liability or responsibility of any kind on the auction house or its owner. The auction house will provide information on the items based on the information given by the sellers. It is the buyer's responsibility to contact the auction house during the preview to verify the condition of the item and request a condition report. By participating in the auction, the buyer declares that he has checked the condition of the item before the auction, and found it to his satisfaction. In case the buyer believes that there is an error in the information provided on the item purchased by him at the auction, he must appeal to the auction house in writing, no later than 14 days from the date of the sale. The auction house guarantees that the watches auctioned will be provided to the buyer in working condition. (unless otherwise stated in the item description it the catalogue). The auction house is not responsible if the watch is inaccurate or if the watch stopped working after the buyer received it. In case a buyer proves to the auction house that the information published about the item he purchased is incorrect, the auction house will reimburse the buyer the amount paid upon receiving the item back to its possession. The buyer will have no further demands or claims from the auction house or anyone on his behalf. The auction house will accept no demands or claims regarding wrong information later than 14 days from the day of the auction. All prices in the auction are in US dollars. Payment from buyers will be in USD or ILS. Payment in Shekels (ILS) will be calculated according to the representative exchange rate listed by the Bank of Israel on the day of payment, and not lower than the representative exchange rate of the day of sale. The buyer's premium of each item is 20% plus VAT and will be paid together with the hammer price by the buyer to the auction house no later than seven days from the end of the auction. Buyers from abroad (outside of Israel) may be exempt of VAT only in case the buyer pays the auction house for courier shipping (DHL, FedEx etc.). The auction house is required by law to provide the local tax authorities with a copy of the export bill for every exempt item and therefore will not be able to exempt VAT if the item is collected by the buyer or shipped any other way. The auction house accepts payments via Bank transfer ONLY. The buyer will make sure to pay for all transfer fees in advance. If the buyer neglects to do so, the auction house will not forgo any sums missing from the total amount of payment and will hold the item and shipping until the entire amount has been received. The auctioneer or the auction platform (Live Auctioneers) will declare the buyer's paddle number for each item. Following this declaration, the buyer will be subject to its full payment obligations according to these terms and conditions. Most of the items offered in the auction are subject to a reserve price that the seller and the auction house agreed on. The reserve price is always the starting price, and therefore any bid made for the item may conclude in the sale of the item at that price. The winning bidder will be liable for the irreversible obligation to pay for the items he won either for himself or a third party. The winning bidder obligates to pay for the item he bought and make the necessary arrangements to collect or receive them no later than 14 business days from the date of the auction. In case he does not do so, the auction house may cancel the winnings and take legal proceedings to collect the payment from the winning bidder. The winning bidder who cannot come to the auctions post the auction and collect his purchases may ask the auction houses' assistance to organize shipping. However, the winning bidder will be required to pay additional costs such as insurance, packaging and shipping (via post or courier) as stated in the price offer provided by the auction house. The buyer will pay all expenses incurred as a result of holding the item at the auction house after the expiry date. The courts in the city of Tel Aviv-Jaffa in Israel have the sole and exclusive jurisdiction in any dispute relating to matters arising related to the purchase or delivery of the item between the auction house and the winning bidder. In any legal dispute, the Hebrew version of this agreement will be the deciding version. This agreement nullifies all previous agreements between the parties.