At Diamond Hammer Auctions, we are committed to providing a transparent, fair, and seamless auction experience. Our Terms & Conditions outline the rights and responsibilities of all participants, ensuring a secure and trustworthy bidding environment. By participating in our auctions, buyers and sellers agree to these guidelines, which cover bidding procedures, payment policies, item collection, and other essential details. Please review them carefully to ensure a smooth and informed auction experience.
Terms & Conditions of Sale – The Foundation of a Fair & Secure Auction
Conditions of sales apply when read or not.
As required by law, all customers who wish to pay $10,000 or More in cash must fill out an IRS 8300 form. Cash is defined as all currency, a cashier’s check, money order, bank draft, or traveler’s check having a face amount of $10,000 or more.
Bidding & Payment Terms
Clear Policies for a Confident Bidding Experience
Bidding
- A 15% buyer’s premium will be added to the final hammer price.
- Sales taxes, including HST, will be applied to the total bid price and the buyer’s premium.
- All sales are final and sold “as-is”, with no warranties, whether or not an inspection has been conducted.
- All lots are subject to a reserve and/or minimum bid.
- The consignor retains the right to withdraw, divide, or consolidate any lot and to refuse any bid.
- Privacy Policy: To protect the privacy of attendees, no photography or video recording is allowed during the auction.
Payment Terms
- Full payment is required at the conclusion of the auction, unless otherwise authorized by the auctioneer.
- If a buyer defaults on payment, they are responsible for all collection costs, including reasonable attorney fees.
- Interest of 24% per annum will be applied to any outstanding balance from the due date until paid in full.
- If payment is not received or items are not collected, the auctioneer may:
- Store the items at the buyer’s expense.
- Cancel the sale and seek legal remedies, including damages for the purchase price.
- Resell the goods, holding the original buyer liable for any loss in value and additional costs incurred.
- Invoices are subject to audit, and buyers must settle any discrepancies. Any deficiencies in sales tax or unpaid balances may be charged to the registered credit card.
- Delivery Service:
- A flat $300 delivery fee applies within a 10-mile radius.
- For invoices exceeding $50,000, payment must be wired by the next business morning, after which the 30% credit card deposit will be refunded.
Appraisals & Warranties
Appraisals
- Appraisals provide a retail replacement value for insurance purposes.
- Values are subjective, and buyers should not base purchasing decisions solely on appraisal values.
- Appraisals are conducted by independent evaluators; discrepancies in grading may occur.
- Some jewelry and watches may have custom modifications or aftermarket enhancements.
Warranty & Authenticity
- All descriptions are opinions, not factual representations. Statements made in catalogs or during the auction are not guarantees of value, authenticity, or condition.
- The auctioneer disclaims all warranties, express or implied, including merchantability or fitness for a particular purpose.
- Buyers are responsible for conducting their own inspections before bidding.
- The auction house does not provide refunds for items later found at a lower price elsewhere.
Note: Additional terms and conditions, including those on jewelry certificates, may be provided before the auction. These terms are binding upon all purchasers.
Surveillance Cameras
By attending the auction, all participants consent to being recorded and/or photographed by the auction house. Surveillance cameras are in place to ensure security, transparency, and the integrity of the auction process.
NOTE: Other terms and conditions including terms and conditions on jewelry certificates may be presented prior to the auction. Terms and conditions herein will combine to be binding on the purchaser.