AFTER THE SALE
In addition to the hammer price, the buyer agrees to pay Charleston Estate Sales a buyers premium and the applicable sales tax added to the final total. The buyers premium for all purchases except via live online bidding is eighteen percent (18%) of the hammer price up to and including $50,000; fifteen percent (15%) of any amount in excess of $50,000 up to and including $1,000,000;and ten percent (10%) of any amount in excess of $1,000,000.
The buyer must pay the entire amount due (including the hammer price, buyers premium, all applicable taxes and other charges) no later than 5 p.m. on the seventh (7) business day following the sale. Payment in U.S. dollars may be made with cash; credit card; bank check or cashiers check drawn on a U.S. bank; money order; or wire transfer unless other arrangements are made with Charleston Estate Auctions. Charleston Estate Auctions, reserves the right to hold merchandise purchased by check until the check has cleared the bank. The purchaser agrees to pay Charleston Estate Auctions a handling charge of $50 for any check dishonored by the drawee.
Sales tax is due on hammer price and buyers premium on all items picked up in, or shipped to South Carolina. Sales tax in Charleston, SC is 8.5%. If purchaser has a Retail License, a copy must be produced prior to payment and collection of items.
Once Charleston Estate Auctions has received all funds due to us, the buyer shall collect purchased lots within seven (7) business days from the date of the sale or made shipping arrangements.
Packing and Shipping
If your bid is successful, we will gladly pack and ship your smaller items in house and will combine purchases for shipping when possible. On larger pieces like furniture or oversized Art, we use FEDEX or UPS ground and buyer will be responsible for all packing fees at the Fedex or UPS store. We can also provide you with a list of shippers and their numbers. We will not be responsible for the acts or omissions of carriers or packers whether or not recommended by us. Property will not be released to the shipper without the buyers written consent and until payment has been made in full. Packing and handling of purchased lots by us is at the entire risk of the purchaser, and Charleston Estate Auctions will have no liability of any loss or damage to such items. Shipping Insurance payable to the buyer is required on any and all items shipped by us.
If we do not receive payment in full, in good cleared funds, within seven (7) business days following the sale, we are entitled in our absolute discretion to exercise one or more of the following measures, in addition to any additional actions available to us by law:
a.) to impose a late charge of one and a half percent (1.5%) per thirty (30) days of the total purchase price
b.) to hold the defaulting buyer liable for the total amount due and to begin legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law
c.) to cancel the sale
d.) to resell the property publicly or privately with such terms as we find appropriate, to resell the property at public auction without reserve, and with the purchaser liable for any deficiency, cost, including handling charges, the expenses of both sales, our commission on both sales at our regular rate, all other charges due hereunder and incidental damages. 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 purchaser. At our option, payment will not be deemed to have been made in full until we have collected funds represented by checks, or in the case of bank or cashiers checks, we have confirmed their authenticity.
e.) to offset against any amount owed
f.) to not allow any bids at any upcoming auction by or on behalf of the buyer
g.) to take other action as we find necessary or appropriate
Failure to Collect Purchases
If property is not picked up or shipping arrangements made within seven (7) business days following the sale, whether or not payment has been made, Charleston Estate Auctions reserves the right to charge $5 per lot per day or to deliver said property to a public warehouse for storage at the purchasers expense. Charleston Estate Auctions shall have no liability for any damage to property left on its premises for more than seven (7) business days following the sale. In addition, we reserve the right to impose a late charge of one and a half percent (1.5%) per month of the total purchase price if payment is not made in accordance with the conditions set forth herein. For property that is not picked up after thirty (30) calendar days, an additional administration fee of $75 will be charged. Property which is paid for but left on our premises for any reason in excess of sixty (60) calendar days is subject to sale by us with the balance of any funds recovered in excess of storage charges and any other fees being remitted to you.