Auction Policy

This policy sets out the conditions of sale for auctions on DeltaGuard Global Auctions. It forms part of our Terms of Use, and by registering for an auction you accept it. 1. Before an auction opens Each listing is reviewed by DeltaGuard before it can go to auction. The seller proposes the opening price, any reserve price and the minimum bid increment; DeltaGuard approves the terms, sets the earnest money deposit (EMD) and publishes the auction with its opening and closing times. 2. Inspecting the lot Lots are sold as they are and where they are, as described in the listing, its documents and any inspection report. Where the listing offers an inspection window, you may inspect the lot before bidding, and you should. By bidding you confirm that you have satisfied yourself about the lot. 3. Registering to bid To bid you must have a verified account, register for the auction and accept this policy. Where the auction requires an EMD, you pay it by bank transfer with proof, and you can bid once DeltaGuard has verified it. 4. Bidding Every bid must be at least the current highest bid plus the minimum increment shown. A bid is an irrevocable offer: once accepted by the platform it cannot be withdrawn. The platform's server clock alone decides whether a bid was made in time; the time shown on your device is for guidance only. Neither DeltaGuard nor its staff bid on any lot, and a seller may not bid on their own lot. 5. Extensions A bid received in the final minutes of an auction extends its closing time by the period shown on the auction page, so that other bidders can respond. Extensions continue until no bid is received within the extension window. 6. Reserve price Where the seller has set a reserve price, it is kept confidential. The auction page shows only whether it has been met. If the reserve is not met, the lot does not sell. 7. Winning When the auction closes, the highest valid bid that meets any reserve wins, and the sale is concluded at that price. The winner is notified and must pay, within the time shown on the transaction, the balance of the winning bid together with the buyer's fees and GST. DeltaGuard may adjust the winner's EMD against what they owe. 8. If the winner does not pay If the winner does not pay in full within the time allowed, DeltaGuard may cancel the sale and forfeit all or part of their EMD as a genuine pre-estimate of the loss caused, and may offer the lot to the next highest bidder or re-list it. 9. Transfer of the asset For property, title passes only by a sale deed registered under the law, and for vehicles by transfer of the registration certificate. Stamp duty, registration charges and transfer fees are paid by the buyer unless the listing says otherwise. The seller must hand over the documents needed for the transfer. 10. Voided bids and operator actions DeltaGuard may void a bid placed in breach of our Terms of Use, with a recorded reason. A voided bid stays in the auction record, marked as voided. Every action DeltaGuard's staff take on an auction is recorded with the reason for it. 11. Handover and settlement Once the buyer has paid, the seller hands the lot over and the buyer confirms receipt, both with photographs on the platform. DeltaGuard then pays the seller the sale price less the seller's fees and any tax the law requires to be collected, by bank transfer to their verified bank account. Where the sale is made directly between buyer and seller, the buyer pays the seller directly and the seller pays their fees to DeltaGuard. 12. Cancelling a sale A buyer and seller may ask DeltaGuard to cancel a sale by agreement, except where the sale is regulated. DeltaGuard decides whether to allow it and what happens to fees and deposits, and records repeated cancellations against the parties. 13. Regulated sales Where an auction is held under a law with its own rules, such as a sale by a bank or a liquidator, the rules of that law and the terms published with the auction apply first.