Auction Terms & Conditions
How OFFICIAL MEMORABILIA Auctions work
To bid on an item you must register by creating a OFFICIAL MEMORABILIA account and be logged in. If you are familiar with how eBay auctions work then our auctions should feel very familiar in terms of how they work.
If the item that is up for auction has a reserve price, that reserve price will be listed on that item, and it will not be sold unless the bidding reaches the minimum price – namely reserved price.
A bid increment is the amount by which a bid will be raised each time the current bid is outbid.
Auto, or incremental bidding
|USER||AUTO BID ENTERED||AUTO||LIVE AMOUNT BID||EXPLANATION|
|Reserve Price||$100||This is the minimum sell price. Automatic increments above this are $10|
|Steve||$250||Yes||$100||Steve kicks off at the Reserve price|
|Mary||No||No||$200||Mary's bid pushes the price up|
|Steve||$250||Yes||$210||Steve's auto-bid out bids Mary by the bid increment|
|John||No||No||$250||John's bid pushes the price up|
|Steve||$250||Yes||$250||Steve matches John¹s bid and wins as his bid is earlier via the Auto increment|
The auto bid function allows you to set a maximum affordable price so that when you are not able to watch the auction proceedings, the OFFICIAL MEMORABILIA auction system auto bids for you until the value of your auto bid is reached.
The auto bid will automatically bid up by the amount equal to the minimum bid increments (as displayed for each auction item). Please take care when setting an auto bid, as once your auto bid is placed, it cannot be altered or withdrawn.
What if two bidders, bid the same amount?
If two bidders bid the same amount, then the earliest bid will take precedence. If a user has set a max bid, and that max bid is matched, the max bid will take precedence as it was the earlier bid set, as illustrated in the graphic above.
Auction Bid Time Extension
Unless otherwise stated in the auction description, each auction listing will utilise the Auction Bid Time Extension function. Each bid placed within the final 10 minutes of the auction will see its closing time extended by three minutes. If there are no new bids in the final 10 minutes, the auction will conclude at its stated time. Auctions cannot be extended if it is the only bid, or by increasing a leading bid. Once the auction has gone past its advertised closing time, each new leading bid will extend the closing time to 3 minutes, please be aware of the updated closing times on each respective listing should there be any last minute bids.
Retracting your bid
Once a bid has be placed it cannot be retracted.
Once the closing time of an OFFICIAL MEMORABILIA auction is reached, the auction will cease and the highest bidder is the winner. All auction times are based on Australian Eastern Standard Time unless otherwise stated.
What happens if I win an auction?
If you are the highest bidder at the close of an auction on OFFICIAL MEMORABILIA you can immediately checkout and pay for the item(s).
You will also receive an email to the email address you nominated when you created your OFFICIAL MEMORABILIA login. This email will contain a payment link that (once clicked) will return you to the OFFICIAL MEMORABILIA checkout, whereupon you can make your payment for the item(s).
How long do I have to pay for the item I have won in an auction?
The winning bidder must have successfully paid for the item within 48 hours of the close of the auction. If the winning bidder does not complete payment within 48 hours of the close, OFFICIAL MEMORABILIA reserves the right to offer the auction item either to the next highest bidder or to re-auction the item. If you would like to request an extension for payment, please email our team at email@example.com.
What happens if I win an auction, fail to pay?
If you are the winning bidder and do not pay for the item within 48 hours, OFFICIAL MEMORABILIA reserves the right to place the item back into the auction, whereupon we will notify the other unsuccessful bidders that the item again up for auction. The OFFICIAL MEMORABILIA is under no obligation to inform winning bidders who refuse or cannot pay when and if the item in question is placed back on OFFICIAL MEMORABILIA either for sale or auction.
Is shipping included in my bid amount?
No, shipping costs are not included in the winning bid price. Shipping costs will be added during the checkout phase.
Eligibility and participation
You must be able to form legally binding contracts to use the OFFICIAL MEMORABILIA auction feature. This means you must not use the OFFICIAL MEMORABILIA auction feature if you:
- are under 18 years of age;
- an undischarged bankrupt; or
- under any type of insolvency administration, where you are a company.
- When you use the OFFICIAL MEMORABILIA auction feature to bid at an online auction, you are making an offer to buy the item at your bid price. If your bid price is the winning bid at the conclusion of a auction you must purchase the item you have bid for plus any additional charges that you may be obliged to pay. Shipping costs are additional to the winning bid price.
- Winning bid prices are GST inclusive
- Please take care when making a bid as once your bid is placed, it cannot be withdrawn.
- It is your responsibility to read the product information relating to any item listed for auction.
- Please do not rely solely on the title summary or any photographs of the item posted in this auction as a complete description of an item. If a photograph is provided, please use it as a guide only.
- You must not engage in bid manipulation.