Conditions of Bidding

Overview

These Conditions of Bidding apply to all bidders participating in HeritageBids auctions. They should be read in conjunction with our Terms of Sale. Together, these documents form the complete agreement between HeritageBids and all registered bidders.

1. Eligibility

To bid at HeritageBids you must:

• Be at least 18 years of age
• Have a verified HeritageBids account
• Be separately registered for the specific auction in which you wish to bid
• Not be an employee, agent or immediate family member of HeritageBids or the consignor of any lot you wish to bid on

HeritageBids reserves the right to refuse registration to any bidder at our sole discretion and without providing a reason.

2. Bidder Registration

Registration for each auction is separate and must be completed before the auction opens. Once approved, you will receive a paddle number that identifies you as a registered bidder for that auction.

Your paddle number is personal and non-transferable. You are responsible for all bids placed under your account.

3. Binding Nature of Bids

All bids placed at HeritageBids are legally binding. By placing a bid — whether by absentee bid or live bid — you are making a firm offer to purchase the lot at that price, plus the buyer’s premium, if your bid is successful.

You may not retract or reduce a bid once it has been placed, except in exceptional circumstances at the sole discretion of HeritageBids.

4. Absentee Bidding

When you place an absentee bid, you authorize HeritageBids to bid on your behalf up to your stated maximum. Our system bids incrementally — only as much as is necessary to maintain the leading position, up to your maximum.

You may increase your absentee bid at any time before the lot is sold. You may not decrease an absentee bid once placed.

If two bidders place identical maximum absentee bids, the bid placed first takes precedence.

5. Live Bidding

During a live auction, bids are placed in real time. The current bid and bid history are visible to all registered participants.

HeritageBids uses a bid increment schedule that determines the minimum increment for each bid, based on the current bid level. The increment schedule is published in the auction catalog and visible on each lot page.

6. Reserve Prices

Many lots carry a reserve price — the minimum price the seller will accept. Reserve prices are confidential and not disclosed to bidders.

If the highest bid at the close of the auction does not meet the reserve, the lot is passed unsold. HeritageBids will indicate clearly whether a lot has a reserve.

Some lots are offered without reserve. These lots sell to the highest bidder regardless of price.

7. Winning Bids

The winning bidder is the highest bidder at the close of the auction, provided the reserve price has been met. HeritageBids’s determination of the winning bidder is final.

Upon winning a lot, you are contractually obligated to complete the purchase in accordance with our Terms of Sale.

8. Payment

Winning bidders will receive an invoice within 24 hours of the auction closing. Payment is due within 7 days.

The total amount due is the hammer price plus the 15% buyer’s premium, plus any applicable taxes and shipping costs.

Non-payment within the required period may result in cancellation of the sale and suspension of bidding privileges.

9. Dispute Resolution

Any dispute regarding the outcome of an auction — including the determination of the winning bidder — must be raised with HeritageBids within 24 hours of the auction closing. HeritageBids’s decision on all auction matters is final.

10. Bidder Conduct

Bidders must conduct themselves professionally and in good faith at all times. The following are prohibited:

• Shill bidding (bidding on your own lots or coordinating with others to artificially inflate prices)
• Bid manipulation or collusion of any kind
• Creating multiple accounts to circumvent registration requirements
• Providing false or misleading information during registration

Violation of these conditions may result in immediate suspension of bidding privileges and legal action where appropriate.

11. Technical Issues

HeritageBids makes reasonable efforts to ensure the reliability of our bidding platform. In the event of a technical failure that affects the auction, HeritageBids reserves the right to extend the auction, re-open bidding or take such other action as we deem appropriate.

HeritageBids is not liable for any loss or damage arising from technical failures, internet outages or other circumstances beyond our reasonable control.

12. Governing Law

These Conditions of Bidding are governed by the laws of the State of New York. Any disputes shall be subject to the exclusive jurisdiction of the courts of New York County.

13. Contact

For questions about these conditions, contact us at [email protected].