As your auctioneer, we are here to explain the crucial concept of an Auction Addendum. This important document serves as a supplement to the main auction contract, providing additional terms, conditions, or modifications specific to the auction process. The Auction Addendum is designed to protect both buyers and sellers by clearly outlining any unique circumstances or requirements for the particular auction event. It may include details such as the auction date and time, bidding increments, buyer’s premium, deposit requirements, and any special conditions of sale.
For you as buyers, bidders, and future investors, understanding the Auction Addendum is essential as it can significantly impact your bidding strategy and potential purchase. Always review this document carefully before participating in an auction, as it forms a legally binding part of the sale agreement and can affect your rights and obligations in the transaction.
https://worldofauctions.co.uk/buying-at-auction/how-to-register-to-bid/
Auctions Addendum – Relating to all Lots
The auctions (any of our auctions) are conducted subject to and in accordance with the Auctioneer Terms as published on World of Auctions website and Palace Auctions London auction website.
Some Special Conditions of Sale detail extra costs which may fall payable in addition to the purchase price and the Buyers’ Fee.
Please check the Special Conditions of Sale carefully for any such costs.
The Particulars of each or any lot may change at any time prior to the Auction.
Where there are changes, we will make every possible effort to highlight them in the Addendum.
It is your responsibility as a buyer to check you have seen the correct version of the Particulars on the website and have read the latest Addendum for the Lot, prior to bidding.
If You are unsure. Please call the Auctioneers.
