Refusal of Admission
STEFEK’S has the right, at our complete discretion, to refuse admission to the premises or participation in an auction and to reject any bid.
Registration Before Bidding
A prospective buyer must complete and sign a registration form and provide identification before bidding. We may require bank or other financial references.
Potential bidders registering to bid online with STEFEK’S through LiveAuctioneers who have won 5 or less items in previous online auctions at the time of registering for this auction must provide a copy of their state issued identification as well as a valid credit card. A $1.00 registration fee will be applied to the credit card at the time it is provided by the potential bidder prior to approval of the auction. When fully processed and approved, the $1.00 registration fee will be voided by STEFEK’S and the bidder will be approved for the auction. Potential bidders will receive an email notification at the end of the process, along with a receipt of the voided $1.00 registration fee.
Bidding as Principal
When making a bid, a bidder is accepting personal liability to pay the purchase price, including the appropriate buyer’s premium of the final bid price, unless it has been explicitly agreed in writing with STEFEK’S before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to STEFEK’S and that STEFEK’S will only look to the principal for payment.
We will use reasonable efforts to carry out written bids given to us prior to the sale for the convenience of clients who are not present at the auction in person, by an agent, or by telephone. Bids must be placed in U.S. currency. If we receive written bids on a particular lot for identical amounts, and these are the highest bids on the lot at the auction, it will be sold to the person whose written bid was received and accepted first. Execution of written bids is a free service undertaken subject to other commitments at the time of the sale and we do not accept liability for failing to execute a written bid or for errors and omissions in connection with it. Absentee bid forms must be submitted by the end of business hours the day before the scheduled auction in order to be processed. Absentee bid forms or requests received after this time will not be guaranteed to be processed.
If a prospective buyer makes arrangements with us prior to the commencement of the sale we will use reasonable efforts to contact them to enable them to participate in the bidding by telephone, but we do not accept liability for failure to do so or for errors and omissions in conjunction with telephone bidding. Phone bid forms must be submitted by the end of business hours the day before the scheduled auction in order to be processed. Phone bid forms or requests received after this time will not be guaranteed to be processed.
Some lots in the sale are subject to a reserve which is the confidential minimum price below which such lot will not be sold. Reserves are agreed upon with consignors, or the absence thereof, in the absolute discretion of STEFEK’S.
The auctioneer may open the bidding on any lot below the reserve by placing a bid on behalf of the seller. The auctioneer may continue to bid on behalf of the seller up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to the other bidders. With respect to lots that are offered without reserve, unless there are already competing bids, the auctioneer, in his or her discretion, will generally open the bidding at 75% of the low estimate for the lot. In the absence of a bid at that level, the auctioneer may proceed backwards in his or her discretion until a bid is recognized, and then continue up from that amount.
The auctioneer has the right at his or her absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as he may decide, to withdraw any lot, and in the case of error or dispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to re-offer and resell the item in dispute. If any dispute arises after the sale, our sale record in conclusive.
The highest bidder acknowledged by the auctioneer will be the purchaser. In the event of a dispute between bidders, the auctioneer has final discretion to determine the successful bidder or to re-offer the lot in dispute. If any dispute arises after the sale, the STEFEK’S sale record shall be conclusive. Title passes upon the fall of the auctioneer’s hammer to the highest acknowledged bidder subject to the conditions of sale set forth herein, and the bidder assumes full risk and responsibility.