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The sale is governed by Masterpiece Auction Condition of Sale for Buyers. Prospective buyers are advised to examine the conditions of business carefully and refer to the guide for prospective buyers before bidding.
Payment must be in Indonesian Rupiahs and will be based on Bank Indonesia's average exchange rate against SGD on the day of closing AND must be made within seven (7) calendar days of the sale and may be made by telegraphic transfer to Masterpiece Auction's specified bank account in the invoice.
Lots will be released to you or your authorized representative when full payment has been received by Masterpiece Auction. Masterpiece provides general insurance cover for sold lots for a period up to seven days from the date of sale such lots. Subsequently, risk of such lots will transfer to the respective buyers.
All purchases will initially be held for collection at the premises of Masterpiece at no charge for fourteen days from the date of sale. Subsequently, Masterpiece will charge storage charges at the rate SGD 10/day per lot.
Masterpiece's shipping department can advise buyers on exporting and shipping property. Shipping will be arranged at buyer's expense.
A Buyer's Premium will be added to the hammer price and is payable by the buyer as part of the total purchase price. The buyer's premium is 22% of the hammer price on each lot.
Successful bidding via Invaluable platform will be charged a transaction fee of 5% for lot value US$0-4,999, 4% for lot value US$5,000-9,999, 3% for lot value US$10,000-14,999, 2% for lot value US$15,000-19,999, and 1% for lot value US$20,000 and above.
Successful bidder will also be responsible to pay all relevant taxes.