SHANNONS AUCTIONS LIMITED VIC:LMCT 9585 NSW:MD19550 AUCTION CONDITIONS Shannons Auctions Limited (Shannons) ABN 83 099665 497 conducts this auction on these Auction Conditions, which replace any other previously published auction conditions or conditions of business. Vendors and Purchasers are advised to carefully read these Auction Conditions. 1. INTENDING PURCHASERS 1.1 No Bidder shall be entitled to bid unless and until such Bidder has lodged with Shannons a completed Bidder registration form, in a format acceptable to Shannons, which will require the Bidder’s name, address and sufficient proof of identity to Shannons’ satisfaction. Shannons Auctions Privacy Statement applies to the collection of personal information – ask us for a copy. 1.2 Bidding registration forms are available during public viewing times at the auction venue and must be lodged in person with Shannons prior to auction or otherwise as agreed. Telephone bidding registrations close 6 hours prior to auction commencement. Internet bidding registrations close 12 hours prior to auction commencement. 1.3 The Bidder to whom the lot is knocked down shall immediately upon the fall of the hammer pay a deposit of 10% (or such other percentage as agreed to by the Auctioneer) of the purchase price to Shannons, and if present at the auction venue shall immediately sign the Sale Book as acknowledgement of the purchase of the lot. If after five minutes (or no more than one clear business day in the case of a telephone or internet Bidder) after the fall of the hammer for the particular lot, the Bidder has failed to pay the deposit (and if present at the venue, sign the Sale Book) the Vendor may then or at any later time, at the Vendor’s option, sell the lot either by private treaty or auction to another purchaser and the Bidder shall have no right or action against the Vendor or the Auctioneer and shall have no proprietary interest (legal, equitable or otherwise) in the lot. 1.4 Any Bidder wishing to bid by way of telephone, internet or as an absentee, shall arrange to complete and lodge a bidding registration form prior to the commencement of the auction, and in the case of an absentee Bidder shall have present at the auction venue a duly authorised agent (which can with prior agreement be a Shannons representative) who shall sign the Sale Book in the event of the lot being knocked down to the Bidder. 1.5 The Financial Transaction Reports Act 1988 (Cth) classifies Shannons as a Cash Dealer. 1.6 A buyer’s premium of 5% (GST inc) is payable to Shannons by the purchaser on the final hammer price of all Auction lots purchased (cars, motorcycles, memorabilia and number plates). 1.7 All prices include GST where the sale of the lot is a taxable supply. Where applicable GST is included in the hammer price on lots offered for sale and Shannons will issue a tax invoice on behalf of the Vendor. 1.8 It is the purchaser’s responsibility to ensure that any lot purchased for export out of Australia is not affected by the provisions of the Protection of Movable Cultural Heritage Act 1986 (Cth) and the Vendor and the Auctioneer do not make any representation concerning any lot in relation to the applicability of this Act. The Purchaser of any lot which is subject to this Act shall not be entitled to avoid the sale or refuse to make payment of the full amount of the purchase price in respect of that lot. 2. TITLE Property in the lot sold shall not pass to the purchaser until such time as the purchaser has paid the purchase price (hammer price+buyer’s premium) in full to the satisfaction of Shannons. 3. CONDITION OF THE LOT 3.1 The Auctioneer and the Vendor make no warranties and give no guarantees as to the condition, road-going ability, authenticity, genuineness, age, suitability, fitness for purpose or merchantable quality of any lot. 3.2 Unless specifically agreed to in writing, all lots are sold in their state of repair and condition as at the time of auction or sale with all defects and faults (if any) and not withstanding any description, representation or valuation given.