Bullion, Gold Coins & Luxury Jewelry

Terms and Conditions with Pacific Global Auctions (PGA):
The terms and conditions, the contents of any listing and the contractual relationship
between PGA and the bidder shall be interpreted under and governed by the laws of the
State of California. If any provision of these terms and conditions or any listing are void,
unlawful, unenforceable under applicable law, that provision shall be modified to the
minimum extent possible to comply with the applicable law or if modifications are not
possible, deleted and severed from the remaining provisions. Any such modifications,
deletions or severing shall not affect the enforceability or validity of any of the remaining
provisions herein.
The Bidder acknowledges and agrees to the following:
Final Sale
All items are final sale.
All items are sold as is, where is, with all faults, all sales are final. No refunds and
no exchanges are accepted. PGA, and any consignor as applicable, disclaim any
and all warranties, expressed or implied, including but not limited to the implied
warranty of merchantability or fitness for any particular purpose. No warranties
are made that any of the merchandise complies with any applicable
governmental rules, regulations or ordinances of any kind or nature whatsoever.
All items are available for inquiries prior to bidding. Written and oral descriptions
are the opinions of this PGA and should in no way be construed as a guarantee
of any kind as to authenticity, age, condition, material or any other feature of
items being sold. PGA believes that to the best of its knowledge information
presented in any auction has come from reliable sources. However, such
information is presented solely for the convenience of the prospective
purchasers. PGA attempts to catalog every lot correctly and will attempt to point
out any defects but will not be responsible or liable for the correctness of the
catalog or other descriptions of the lot. It is the responsibility of the prospective
bidders to examine all items in which they have an interest. By placing a bid, in
any capacity, the bidder signifies that he/she has examined the items as fully as
can be done to his/her satisfaction and have asked questions and received
answers from PGA that are deemed adequate.
If the bidder requires absolute certainty in all areas of authenticity, and the results
of the evaluation leave uncertainty in the bidder?s mind, do not bid on the lot in
question. Items sold by us are sourced from multiple channels and sources and
there are no assurances that any of the items being sold have been seized. PGA
is not authorized dealers of Rolex, Cartier or other watch brands that are sold at
auction. We carry pre-owned watches from secondary markets in exceptionally
excellent condition.
Bidder?s bids always represent an irrevocable offer by bidder to enter into a
binding contract to purchase the lot in accordance with the specific provisions of
the listing and these general terms and conditions as applicable, even if a higher
bid was received by PGA. All bids are binding, irrevocable and non-cancellable
by the bidder. PGA has final discretion on sale of a lot. The decision of PGA is
final.
In no event shall PGA liability for any breach or act or omission exceed the
Purchase Price actually paid by the buyer, and in no event shall PGA have any
liability under any circumstances for special, indirect, incidental or consequential
damages including for loss of profits or revenue, costs of obtaining alternative
goods, claims of customers of buyer or otherwise whether in contract, tort,
negligence, strict liability or otherwise, arising out of or resulting from or in any
way relating to the lot or its purchase price, sale, delivery or not delivery or the
acts or omissions of PGA.
The successful bidder is the highest bid acknowledged by PGA pursuant to
provision UCC-2-328 of the Uniform Commercial Code. Bids may be received by
PGA through the internet, telephone, facsimile or email. Bidding through any of
those methods are only available to pre-qualified bidders or resellers. If you
desire to qualify as a qualified dealer, you may contact one of the specialists at
PGA to receive an application. Approval as a qualified dealer is at the sole
discretion of PGA and requires a bank approved line of credit that is reviewed
and approved by the specialist at PGA.
Refunds and Exchanges
Under the terms of this agreement, the buyer acknowledges that there are no
refunds or exchanges. If the buyer needs an exception, he/she must write to
PGA within 5 business days of delivery. PGA has the sole discretion to approve a
return.
In the event PGA approves a refund, the buyer will be responsible for a 15%
restocking fee based on the item?s hammer price, all shipping costs, and the
buyer?s premium. The restocking fee, shipping costs, and buyer?s premium will
be deducted from the refund. Sales tax will also be adjusted based on the refund.
The refund will be processed within 5 business days of the product?s return and
the product must be delivered in the same condition as sent to the buyer.
Unauthorized returns will be rejected.
Shipping and Handling
Shipping and Handling will be done by PGA via third-party licensed shippers (i.e.
USPS, FedEx, UPS, etc). Shipping charges will be included in your invoice.
Insurance is not included. In the case the buyer would like insurance, PGA will
update the shipping fees to include insurance. If insurance is not requested, PGA
will not be responsible for any lost packages by third-party licensed shippers.
Once payment is processed from Live Auctioneers to PGA, PGA will process the
transaction within 12-15 business days. Watches, bags, and high value
diamond/gemstone pieces can take more than usual time to ship due to the high
value and testing process.
We conduct a thorough final quality check before shipment. If in the course of the
final quality check, the product does not meet our quality standards, we will
cancel the sale and issue the buyer a refund. For all sales across any platform,
PGA has full and complete discretion to cancel a sale for any issue whatsoever.
Once the shipping label is created, the buyer will receive an automated email
from the third party shipper with the tracking number.
Note: You may not combine invoices, as invoices are processed based on the
timestamp of payment. Shipping and handling charges are subject to changes
upon current rates in the industry.
Payment
PGA accepts payment by bank wire transfers, personal or company checks,
cashier?s checks, money orders, and online payments through Live Auctioneers.
International invoices over $5,000 US require a wire transfer as do the sale of
jewelry and certain other high value items at our discretion.
For items purchased online, you will be emailed an invoice within 24 hours after
the auction closes. The invoice will provide a link for you to pay immediately and
securely online. It is your responsibility to contact PGA if you are unable to pay
through the online check out system.
If you are paying by check, money order, cashier?s check or check, you must
contact PGA first for instructions. PGA reserves the right to hold all purchases
until the check has cleared to the satisfaction of PGA and its bank. If we are
prevented by fire, theft, or any other reason whatsoever from delivering any
merchandise to the purchaser, our liability shall be limited to the sum actually
paid, by the purchaser for such property.
Certificate of Authenticity
PGA, nor any consignor, as applicable, make any representations and/or
warranties of any kind with regard to the property being sold or its value, and in
no event shall be responsible for the correctness of description, genuineness,
provenance, authenticity, authorship, attribution, and/or completeness, estimates
of value or condition of the property. All appraisals, estimates or evaluations
provided are solely for the convenience of the bidder and this Company does not
make any warranties of any kind relating to them. Appraisals may include
valuations that reflect the full, higher price at retail of an item in a specific
geographic region. The term estimates or estimated value as used herein may be
an arbitrary value and may not represent an actual retail value or insured
replacement value or cost of similar goods. Also, no appraised value should be
considered to represent the actual resale value, insurance replacement value, or
cost of similar goods. No statement whether oral or written shall be deemed to be
such a warranty or representation, or any assumption of responsibility in no
circumstances will a vastly different appraisal or estimate of any third party given
on behalf of a purchaser in any Company conducted auction be grounds for a
return, cancellation or refund. All measurements given are approximate and
within industry standards and customs.
PGA sends most but not all jewelry, watches, diamonds and accessories out to a
third party for appraisals. all such lots are sold as is and may have been worn,
been previously repaired, altered, customized or been embellished. For purposes
of our auctions, the terms custom, modified, or aftermarket may be used
interchangeably. such wear, repair or change may display varying levels of
evidence. The bidder hereby acknowledges that the absence of any reference to
the condition of a lot or item does not imply the absence of wear, repair or
customization. While PGA makes every effort to call attention to any altered or
modified item of jewelry or watch, the use of new parts or stones in any item shall
not constitute a warranty or representation that the items are original in its
entirety. These modifications or alterations may impair the ability of the original
manufacturer to repair such an item or certify the item as authentic.
All statements and descriptions relating to such lots, including measurements,
authorship, sources or origin, or other aspects are qualified opines and do not
constitute a warranty or representation and are provided for identification
purposes only. Not all jewelry, watches or loose stones are appraised, and the
appraisals are provided for bidders only in certain instances at the discretion of
PGA. Appraisals, if any, should be used to verify gemstone and or metal weights.
The appraisals should not be used for valuation of any item. No guarantee,
warranty or representation is intended by PGA in any appraisal. All dimensions
and weights of such lots are approximate and are consistent with standards and
practices in the industry. Condition reports are provided as a service to the
prospective buyer. Bidders should take note that such descriptions are not
warranties and that watches may need general service, change of battery or
further repairs for which the buyer is solely responsible.
Reserves
Some of the lots in this sale are offered subject to reserve. The reserve is a
confidential minimum price below which the lot will not be sold or agreed upon by
the consignor and PGA. In most cases the reserve will be set below the
estimated range, but in no case, will it exceed the estimates listed. A
representative of PGA will execute such reserves by bidding for the consignor. In
any event and whether a lot is subject to a reserve, the auctioneer may reject any
bid or raise the bid not commensurate with the value of said lot. We reserve the
right to reject any bids placed before or after the auction has concluded.
PGA, and consignors, reserve the right to bid on any lots. Unless specifically
stated otherwise, all lots are subject to reserve price that shall be hidden from
bidders. PGA shall act to protect the reserve by bidding in the auction process if
needed. PGA may open bidding on any lot below the reserve by placing its own
bid. PGA may continue to bid on behalf of itself up to the amount of the reserve,
either by placing consecutive bids or by placing bids in response to other bidders.
In the event of any dispute between the bidder or in the event of any doubt by
PGA as to the validity of any bid, PGA will have the final discretion to determine
the successful bidder or to re-offer and resell the article in dispute. If any dispute
arises, after the sale, PGA?s sale record is conclusive of the event. While PGA
will make every effort to guarantee accuracy,
In the event that any reserve price of a lot is not exceeded by any bidders bid,
PGA in its sole discretion with or without the knowledge of or notice to any
bidder, may reduce any reserve price to an amount below the bid of bidder at any
time during an auction and accept the bid made by bidder. Reserve prices are
always the confidential information of PGA and are not disclosed to bidders
unless specifically stated as such during bidding. Nothing contained in any listing
shall be construed to disclose any reserve price. In the placing of any bid the
bidder understands and agrees that the bid once accepted by PGA will be the
winning bid if there is no higher bid by another bidder and if any reserve or
reduced reserve is exceeded by the bid.
Liquidated Damages
In the event that you bid and are deemed the winner of any item by PGA but fail
to make payment in accordance with the invoice, or claim a dispute with any third
party payment intermediary, such as a credit card company you will be assessed
a charge of 15% of the hammer price as liquidated damages. By bidding on any
such lot, you hereby agree to the payment of such liquidated damages as a
result of the irreparable harm that will be sustained by PGA. Additionally, in the
event that a winning bidder fails to make any payments under these terms and
conditions including the liquidated damages described herein, we reserve the
right to report such nonpayment to creditor and collection agencies in our sole
discretion.
Rejection of Bid
PGA reserves the right to reject any bid at any time, and at its sole discretion.
PGA additionally reserves the right to its sole and unlimited discretion at any time
prior to, during or even after the close of the auction to exclude any person or
individual bid and to award any lot to the highest accepted bid. PGA reserves the
right to withdraw any lot at any time before, during or after the auction without
liability.
Bid Cancellation
The bidder assumes full responsibility for the items at the fall of the hammer or
expiration of time in an online auction. A bid entered by mistake on the part of the
bidder is not grounds for a cancellation of the bid or sale. Each bidder is
responsible for his/her own account and bids. By allowing access to another who
enters a bid without your knowledge will not be grounds for a rescission of the bid
or bids. Any bid made on your account will bind you to the bid in accordance with
these terms and conditions. If any entity places a bid on a lot, then the person
executing such bid on behalf of the entity hereby agrees to personally guarantee
payment for any successful bid.
In the event of a mistake on the part of the auctioneer, and a lot is accidentally
declared
sold by mistake of the auctioneer, PGA reserves the right to cancel the sale and
relist the lot in its sole discretion.
PGA reserves the right to cancel any sale.
In the unlikely event that we lose our internet connection or items have
inappropriate data due to technical errors in the system such as images
mismatched or not available, items with incorrect information, price or certificate,
PGA reserves the right in its sole and absolute discretion to cancel the remainder
of the auction and/or rescind all winning bids.
Lot Prices
PGA, and consignors, reserve the right to bid on any lots. Unless specifically
stated otherwise, all lots are subject to reserve price that shall be hidden from
bidders. PGA shall act to protect the reserve by bidding in the auction process if
needed. PGA may open bidding on any lot below the reserve by placing its own
bid. PGA may continue to bid on behalf of itself up to the amount of the reserve,
either by placing consecutive bids or by placing bids in response to other bidders.
Fees
All bids are subject to a non-refundable 25% buyer?s premium, which shall be
added to a successfully placed bid upon sale of each lot, applicable local sales
tax, and shipping and handling charges. Any bidder that represents a purchaser
is personally and individually responsible for any obligations of the purchaser set
forth in these terms and conditions. All purchasers acquiring merchandise
pursuant to a valid Resale License will need to provide appropriate
documentation for removal of state sales tax.
Dispute Resolution
If any dispute arises between the bidder and PGA that cannot be resolved, then
the parties agree to submit the matter to binding arbitration to be conducted
under the rules, regulations and procedures of the dispute resolution process
described herein and agree to the following procedures for resolution of the
dispute. If either party alleges that the other party is in default under this
Agreement, the dispute or allegations shall be submitted to binding arbitration in
the State of California. PGA shall select a neutral arbitrator or alternative dispute
resolution organization. The arbitration process shall be initiated by either party
requesting arbitration which must be served upon the other by certified mail
return receipt requested. Failure to participate in the arbitration is a default. If an
arbitration procedure is initiated by request of a bidder, the bidder shall bear the
initial financial burden of fees paid to the arbitrator to the maximum amount
available by law. Each party shall simply present their case limited to a maximum
of one hour for each party to the arbitrator.
By bidding on a lot the bidder hereby agrees and acknowledges that it is
completely waiving its rights to have the dispute heard in a court of law. The
bidder agrees that the arbitrator shall have complete jurisdiction over the dispute
and can issue an award to the prevailing party. Arbitration fees shall be paid by
the party prevailing in the dispute or as seen fit by the arbitrator. Any award
determined by the arbitrator shall be binding and the prevailing party shall be
awarded full reimbursement of its actual paid fees in connection with the dispute.
By participating in a Company auction, bidder specifically agrees to the dispute
resolution specified in the foregoing paragraph as bidder?s SOLE means to
resolve any and all disputes which may arise with PGA arising out of this
Agreement and bidder?s bids. By bidding, the bidder specifically agrees that it will
not file a dispute claim of any kind with an online venue, a credit card or any
other third parties. Bidder specifically waives the right to initiate a credit card
chargeback dispute on any basis of claim, and agrees that bidder will pay PGA a
minimum of $300.00 plus hourly charges and costs for any such chargeback
dispute opened due to the severe administrative burden of such disputes and
their direct violation of the dispute provisions above. In the event that bidder
violates this dispute resolution provisions, in consideration of PGA?s approval of
the application of the bidder to bid in PGA?s auctions, bidder confesses judgment
to fraud having been committed by bidder against PGA and further agrees that
the bidder is liable to PGA for all damages, losses and costs including time
charges.
The bidder hereby waives, releases, remises, acquits and forever discharges
PGA and any consignor, and shall indemnify and hold them harmless against any
claims, actions causes of action, demands, rights damages, costs, expenses or
compensation whatsoever directly or indirectly known or unknown foreseen or
unforeseen which the bidder now has or which may arise in the future on the
account of any or in any way growing out of or connected with any defects, latent
or otherwise or the physical condition of any items or lots purchased or any law
or regulation applicable thereto PGA or consignor shall provide notice to bidder
promptly of any such claim, suit or proceeding.
Notice and Disclaimers:
On the fall of the hammer or expiration of time in an online auction, ownership of
the offered lot will pass to the highest bidder acknowledged by the auctioneer,
subject of fulfillment by the bidder, of all the conditions set forth herein, and such
bidder thereupon, assumes full risk and responsibility thereof, but not limited to,
insurance, fire, theft, removal and storage or damage from any and all causes,
and will pay the full purchase price or such part as we may require.
In addition to other remedies available to us by law, we reserve the right to
impose a late charge of 1.5% per month of the total purchase price if the
payment is not made in accordance with the conditions set forth herein. If any
applicable conditions are not complied with by the purchaser, in addition to other
remedies available to us and the consignor by law, including but not limited to,
the right to hold the purchaser liable for the total purchase price, we at our option
may cancel the sale, retain all payments made by the purchaser, resell the
property at public auction with or without reserve, and the purchaser will be liable
for any deficiency costs, including handling charges, the expenses of both sales,
our commissions on both sales at our regular rates, reasonable attorney?s fees,
including damages and all other charges due hereunder and to reject future bids
from the buyer or render such bids subject to payment of a deposit and or charge
interest at 18% per annum from the date payment became due until it is received
in full and funds cleared our account.
PGA may also notify the buyer of an exercise of a lien over any of the buyer?s
property which is in the possession of PGA and no earlier than 30 days from the
date of such notice arrange the sale of such property and apply the proceeds to
the amount owed to PGA or any of our affiliated companies after the deduction
from sale proceeds of our standard commission rates and sale related expenses.
Or alternately, commence legal proceedings to recover the purchase price,
together with interest and the costs of such proceedings, set off the outstanding
amount remaining unpaid by the buyer against any amounts which PGA or our
affiliated companies may owe the buyer in any other transactions or take such
other action as we deem necessary or appropriate. If such a buyer pays a portion
of the purchase price for any or all lots purchased, PGA shall apply the payment
received to such lot or lots that PGA, in its sole discretion, deems appropriate. In
the case of default, the buyer shall be liable for legal fees, costs and expenses
associated with the attempted collection of payment from the purchaser.
In addition, a defaulting purchaser will be deemed to have granted us a security
interest in and we may retain as collateral security for such purchasers,
obligations to us, any property in our possession owned by such purchasers.
Furthermore, if a purchaser fails to make any payments under these terms and
conditions, a 15% charge as liquidated damages will be administered as
described in Section 9. We hereby reserve the right to report such non-payment
to credit and collection agencies in our sole discretion.