Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 284.4 Subject to the provisions of Condition 1 the highest Bidder shall be the Purchaser and if any dispute arises concerning the bidding the Auctioneer shall either determine the dispute or put the lot up again at the last undisputed bid. No person shall at any bid- ding, advance less than the sum named by the Auctioneer and no bid shall be retracted. 5. AUCTION SYSTEM 5.1 Shannons will conduct this auction at the auction venue and receive bids from: (i) registered Bidders present in person,(ii) registered absentee Bidders, (iii) registered phone Bidders, and/or (iv) registered internet Bidders. Each of these is known in these Auction Conditions as a Bidder. 5.2 The Vendor maintains the right to reduce the reserve price, therefore the starting price may not always be the reserve price. 5.3 The Auctioneer has the right to accept bids below the reserve and to make a bid or bids on behalf of the Vendor. 6. BIDDING AGENT 6.1 If the Bidder proposes to purchase the lot as an agent for a Principal the Bidder must identify the Principal at the time of completing the bidder registration form (the bidding slip). If the Bidder fails to identify the Principal at the time of the completion of the bidding slip, or provides incomplete, inaccurate or false details of the Principal, the Auctioneer and the Vendor shall not be bound by any contract, agreement or arrange- ment with any person other than the Bidder personally. 6.2 If the Bidder purchases the lot as an agent for a Principal then, unless within two clear business days from the conclusion of bidding for the lot the Principal ratifies the agency and the purchase of the lot and agrees with the Auctioneer to be bound by every term and condition or other stipulation applicable for the auction, as if the principal were the Bidder, then notwith- standing, any later ratification of the agreement by the Principal, the Bidder nevertheless will remain liable to the Vendor as the Purchaser of the lot. 7. PAYMENT OF BALANCE OF PURCHASE PRICE 7.1 Bidding is in AUD and all payments must be made in AUD. Any foreign cur- rency amounts displayed are approximate only and Shannons has no liability for errors in conversions from AUD or foreign currency amounts displayed. 7.2 Each lot shall be paid for by a purchaser located in Australia by cash, bank cheque, electronic funds transfer or credit card which is acceptable to Shannons no later than 6:00pm (Australian Eastern Standard/Daylight Time) two business days after the auction. In the case of a purchaser located outside of Australia, and unless otherwise agreed, each lot shall be paid for by the purchaser by credit card which is acceptable to Shannons or electronic funds transfer no later than 6:00pm (Australian Eastern Standard/Daylight Time) two business days after the auction. 7.3 Personal cheques will only be accepted by prior arrangement with the Auctioneer. 7.4 All payments by credit card will incur a 2% merchant administration charge when used to pay any portion of the purchase price of a lot (lots if paid together) in excess of $10,000 AUD. Part payments only at Shannons’ discretion. 7.5 The lot must be collected from the auction venue no later than two business days after the auction unless specifically otherwise agreed to by Shannons.