1. In addition to the hammer price, Arnaud's charges a buyer’s premium on the hammer price of each lot sold. On purchases from $0-$49,999, a buyer’s premium of 20% will be applied. On purchases from $50,000-$499,999, a buyer’s premium of 15% will be applied. On purchases above $500,000, a buyer’s premium of 10% will be applied. This buyer’s premium and applicable Canadian taxes are added to the hammer price. Taxes are exempt for any items directly shipped from our premises out of Canada with a registered international shipper.
2. Unless exempted by law, the buyer is required to pay Ontario Retail Sales Tax and Federal Goods and Services Tax on the total purchase price including the buyer's premium. Taxes are exempt for any items directly shipped from our premises out of Canada with a registered international shipper.
3. The auctioneer reserves the right to withdraw or refuse any lot from sale at any time, move the bidding backwards or forwards in any way he or she may decide, change the order of the lots, divide any lot or combine any two or more lots, or reopen or continue the bidding even after the hammer has fallen.
4. The auctioneer has the right to refuse any bid and to advance the bidding at his absolute discretion. The auctioneer reserves the right not to accept and not to reject any bid. Without limitation, any bid which is not commensurate with the value of the article offered, or which is merely a nominal or fractional advance over the previous bid may not be recognized.
5. Bidding generally starts below the low estimate and increases in steps (bid increments). The auctioneer will decide at their sole option where the bidding should start and the bid increments.
In general, bid increments shall be as follows:
Price Bid Increment
$0.00 $1.00
$4.99 $5.00
$49.99 $10.00
$99.99 $50.00
$499.99 $100.00
$4,999.99 $500.00
$9,999.99 $1,000.00
$24,999.99 $2,500.00
$49,999.99 $5,000.00
$99,999.99 $10,000.00
$249,999.99 $25,000.00
$499,999.99 $50,000.00
6. Unless otherwise indicated, all lots are subject to an unpublished reserve price below which the auctioneers is not obligated to sell the item, and which may be changed at any time prior to the actual sale by agreement between the auctioneer and the consignor. We identify lots that are offered without reserve with the symbol * next to the lot number. The reserve cannot be more than the lot’s low estimate.
7. The highest bidder accepted by the auctioneer is the successful bidder of a lot. This means a contract for sale has been formed between the seller and the successful bidder. If any dispute should arise between bidders the auctioneer shall have the absolute discretion to designate the buyer or, at the auctioneer’s option, to withdraw any disputed lot from the sale, or to re-offer it at the same or a subsequent sale. The auctioneer's decision in all cases shall be final.
8. Immediately after the successful bid of a lot, we will issue an invoice only to the registered bidder who made the successful bid. While we send out invoices by mail and/or email after the auction, we do not accept responsibility for telling you whether or not your bid was successful. If you have bid by written bid, you should contact us by telephone or in person as soon as possible after the auction to get details of the outcome of your bid to avoid having to pay unnecessary storage charges. The successful bidder shall pay or undertake to the satisfaction of the auctioneer with respect to payment of the whole or any part of the purchase price requested by the auctioneer, failing which the auctioneer in his sole discretion may cancel the sale, with or without re-offering the item for sale.
9. The buyer shall pay for all lots within 48 hours from the date of the sale, after which a late charge of 2% per month on the total invoice may be incurred or the auctioneer, in his sole discretion, may cancel the sale. The buyer shall not become the owner of the lot until paid for in full. Items must be removed within 10 days from the date of sale, after which storage charges may be incurred.
10. Each lot purchased, unless the sale is cancelled as above, shall be held by the auctioneer at his premises or at a public warehouse at the sole risk of the buyer until fully paid for and taken away.
11. It is the responsibility of the buyer to make all arrangements for insuring, packing and removing the property purchased and any assistance by the auctioneer or his servants, agents or contractors, in packing or removal shall be rendered as a courtesy and without any liability to them. Buyers are asked to arrange removal of purchased property within 7 days following payment. After the seventh day will a fee of $10 per day will be charged for any purchased property not removed unless prior arrangement has been made with the auctioneer.
12. The auctioneer acts solely as agent for the consignor and makes no representation as to any attribute of, title to, or restriction affecting the articles consigned for sale. Without limitation, the buyer understands that any item bought may be affected by the provisions of the Cultural Property Export Act (Canada).
13. The auctioneer reserves the right to refuse admission to the sale or to refuse to recognize any or all bids from any particular person or persons at any auction.
