These Terms and Conditions apply to the provision of services by GalaBid Operations Pty Ltd (ABN 31 689 088 462) (“we”, “us”, or “our”) to the client (“you” or “the Client”).
1. Client Items and Consignment Exclusivity
The Client may supply an unlimited number of donated items for inclusion in live and silent auctions, excluding items sourced on a consignment basis from third parties. We shall be the exclusive provider of consignment items unless otherwise approved by us in writing. At the Client’s request, we may offer multiple units of consignment items to underbidders via our platform.
2. Unsold Items and Payment Obligations
Unsold consignment items shall be returned to us at no cost to the Client, except where physical items are shipped to an event at which we are not in attendance, in which case the Client shall bear all return shipping costs.
For each consignment item sold, the Client shall pay us the cost price (inclusive of GST). We shall retain only the cost price of such items, with all surplus proceeds forming part of the Client’s fundraising revenue.
We will issue an invoice following the auction, payable within seven (7) days. Redemptions will not commence until the invoice is paid.
3. Pricing and Starting Bids
We shall set the starting bid for each consignment item at or above its cost price (inclusive of GST), typically at a level ensuring a minimum ten percent (10%) margin. Any variation to this margin (generally up to a maximum of twelve percent (12%) above cost price) must be approved and implemented by us.
The Client must not set a starting bid below cost price and remains liable for the full cost price of any item sold.
4. Redemption Documentation, Redemption and Finality of Sale
We shall provide all applicable redemption documentation and related terms and conditions to the Client, who must ensure such terms are disclosed in auction listings. All bids are final and non-refundable. Prizes may be transferred to an alternative nominated recipient at our discretion.
The Client is responsible for receiving payment from the winning bidders. All consignment invoices must be paid in full prior to prize redemption.