3.3 Absentee Bids at Auction
You may ask us to execute bids at auction on your behalf (“Absentee Bid”), which shall be subject to the following:
(a) We have sole discretion to accept or reject any request to execute an Absentee Bid, and we may cancel any such bid placed up until the winning bid is accepted. We will not accept unlimited Absentee Bids from any buyer.
(b) We must receive requests for an Absentee Bid at least 24 hours in advance of the auction.
(c) Arranging and executing an Absentee Bid is a free service that we provide to you. While we will exercise reasonable care in undertaking such activity, we do not accept liability for failing to execute any Absentee Bid, or for errors and omissions in connection with it.
(d) Absentee Bids are restricted to the Property and to the maximum bidding price for such Property that you specify in writing. The maximum bidding price is the maximum price you authorize us to bid, and if accepted as the winning bid, it will be included in the Purchase Price that you agree to pay for the Property. The maximum bidding price shall not be lower than the Starting Price and shall only constitute the winning bid price, excluding the applicable Buyer’s Premium, or applicable sales taxes. We shall charge for these additional costs and expenses separately. We will only bid up to the maximum bid price if there is another bidder. If no one else bids on the relevant Property, your bid will automatically be accepted at the Starting Price.
(e) In the event that we receive identical Absentee Bids, the first one that we receive will dictate precedence.
(f) The customer may cancel the purchase order in writing (fax, letter, email) up to 72 hours before the auction begins without citing reasons. Such cancellation is permissible up to 72 hours before the auction begins. Cancellation later than 72 before the auction begins, or after the auction has begun, is excluded in principle; it may be permitted in individual cases at the discretion of Auctionata, however. In cases of cancellation, Auctionata shall be entitled to charge an administration fee in accordance with the schedule of fees for the Auction for each item specified in the purchase order.
(g) If any Absentee Bid results in the winning bid, you agree to enter into a purchase agreement resulting from that bid