There are rules in the Fair Trading Act about how an auction can be conducted lawfully by an auctioneer. The auctioneer cannot accept vendor bids bids by the vendor or any person acting as an agent for the vendor, usually the auctioneer unless:.
Auctioneers must not mislead or deceive you about the service they offer or the products for sale. Check if an auctioneer is registered external link — Trading Standards. An auction house will ask you to register and sign their written terms of sale if you plan to bid. The terms of sale must be easily available for you to view before and during the auction.
The terms must tell you:. Within 10 working days of the auction or five working days if the seller asks for it , the auctioneer must give the seller the money from the sale minus auction costs and fees, and details about:. Buying and selling at auction external link — Commerce Commission.
Max is at a household auction and wins the bid for a used lawn mower. He changes his mind after he has won the bid and the hammer has fallen on that auction item. It is too late to cancel the sale as he has entered into a binding contract and will have to pay for the motor mower. Janet is at a real estate auction. The real estate agent who is running the auction is doing so on behalf of the bank for a mortgagee auction.
Janet is bidding for the property below the reserve price. She finds out the jewellery is not actually antique and is fake.
As the jewellery doesn't match its description, she contacts the auction house to ask for a full refund. But they don't take her complaint seriously. Erena can now take her complaint to the Auctioneers Association. If she still doesn't get a refund, she can go to the Disputes Tribunal. Complain directly to the seller if you think the products are faulty as soon as you discover a problem. Explain what the problem is and how you would like it to be resolved.
If the problem is minor, the seller can choose to repair, replace or refund your money — provided they are still in business. If the problem is serious — or they fail to act or can't fix it — you can reject the products and ask for a full refund.
If the seller is not in business, you will have to rely on the Contract and Commercial Law Act to cancel the contract and get your money back. Take your complaint further. Complain to the Commerce Commission if think you have been misled about something you have bought from a professional trader at auction. The Commerce Commission enforces the Fair Trading Act, which protects you against being misled or treated unfairly by traders or shops, eg being told something is in good working order when it is not, or does something it doesn't.
The Fair Trading Act does not apply to private sales, eg a person selling on Trade Me who does not sell there as a business. Commerce Commission doesn't act on behalf of individuals and can't investigate every complaint. But their investigations do help make sure businesses are complying with the law. Your information helps them assess which consumer issues are causing greatest harm.
Make a complaint external link — Commerce Commission. For complaints against Auctioneer's Association members it is free. For complaints about non-members, there is a small cost. Complain in writing to the Auctioneer's Association through their online contact form, or by email.
Complaints external link — Auctioneer's Association. Our law centres external link — Community Law Centres. On this page. How it works An auction has a special meaning under the Auctioneers Act as a process where: products or real estate are offered for sale by an auctioneer on behalf of a vendor people bid against each other in real time — in person, by phone or by internet live streaming the auctioneer says when the product or real estate are sold.
Online bidding sites like Trade Me aren't auctions Sites like Trade Me or eBay are not technically auctions, because items are sold directly by a seller to a winning bidder without using an auctioneer. Filing a dispute report external link — Trade Me Online shopping Private sales and second-hand goods. Before you buy at auction Before you bid, it's a good idea to do some research.
You should also: try to get an idea of how much the goods are worth, and decide how much you are willing to pay check the terms of sale before the auction starts, or at the time of sale check the auctioneer is registered know the rules for vendor bids.
Your rights when buying at auction An auction sale is a contract. How it works - Selling casual sellers only. When listing an item on the app, Make an offer is automatically on. If you accept the offer, your item is sold! The listing will then close and payment instructions will be sent if you accept by mistake contact the customer service team to help you out.
If you decline the offer, the buyer will be told and given the option to make another offer if they wish. If a listing has a reserve, anyone can make an offer until the reserve price is met. How it works - Buying. The offer is then sent to the seller and they have 24 hours to accept or decline.
If the seller accepts, the item is yours! You can now complete payment like you normally would. If the seller declines, you can choose to send them another offer. You can make as many offers as you like until the reserve price is met.
Once the reserve price is met all outstanding offers will be automatically declined, but you can continue to bid on the item. Does it cost to use Make an offer? Nope, the feature is absolutely free to use for all casual sellers.
If the seller accepts my offer, will I have to complete the trade?
0コメント