Bidder’s Guide

By placing a bid on an item, each bidder agrees to these auction rules:

General Terms:
1. All prices are listed in Singapore Dollars.
2. All items will be sold only above the Starting Bid.
3. Catalogue illustrations are for guidance only. All lots are sold as is with all faults and imperfections and errors of description. In no event shall STPI be responsible for the condition of the lots or the correctness of any description of lots.
4. Silent auction begins at 9:00 AM (GMT+8:00) on Saturday, 14 September 2019 and ends at 6:00 PM (GMT+8:00) on Friday, 20 September 2019. Please note that no exceptions will be accepted.
5. When the silent auction closes, bidding will continue at the live auction of the STPI Annual Friends Gala Dinner at 9.15 PM (GMT+8:00) on Saturday, 21 September 2019. In the event you are absent for the live auction and would like us to place bids on your behalf, please notify us and provide us with a valid contact number.

Placing a Bid:
6. By placing a bid you are entering into an agreement to purchase the artwork(s) and/or auction experience(s) at the offered price. You agree to pay the full amount of your bid if, upon completion of the auction, you have the highest bid.
7. Winning bids will be determined at the live auction on Saturday, 21 September 2019.
8. The highest bid (at the close of the live auction) will be deemed to be the winner. In the extreme case of where an entry error has occurred, please contact us for the retraction of your bid. If this occurs, we reserve the right to offer the item to the second highest bidder.
9. The decision of the winners is made by STPI and will be final.
10. All sales are final. There will be no exchanges or refunds.
11. All bids are only finalised upon confirmation from STPI.

Payment for Successful Bids:
12. Payment for artwork(s) and/or auction experience(s) purchased must be made in full to STPI by 31 October 2019. STPI accepts cash, bank transfer or cheque payment (subject to cleared funds).
13. All bank charges (for International Bidders) must be paid by remitter.
14. Auction bids are exclusive of Singapore 7% GST. If the final delivery location of artworks and/or experience take place in Singapore, the Singapore 7% GST will apply on the estimated market value, or the final bid price, whichever is lower.

Tax Deductibility:
15. Donation tax deduction benefit of 250% is only applicable to the difference between the final bid price and the estimated market value of the item being auctioned, on the condition that the final bid price is higher than the estimated market value.
16. STPI will submit the tax-deductible donation information to IRAS. Donor must provide name and tax reference number (NRIC/ FIN/ UEN) to STPI in order to be eligible for tax deduction.

Delivery of Artworks/Experiences:
17. For international bidders, VAT upon delivery/shipment may apply based on destination country.
18. Delivery, insurance, and installation of artworks are not included.
19. Flights to destinations are not included in Auction Experience prices.

Other Terms:
20. All artworks and auction experiences have been kindly donated by the respective parties and as such, any respective terms and conditions are applicable.
21. STPI reserves the right to add or withdraw artwork(s) and/or auction experience(s), without notice, to or from the auction.
22. STPI, their elected and appointed members and employees, sponsors, and/or volunteers connected with the auction cannot beheld responsible or liable for any risks or hazards related to the artwork(s) and/or auction experience(s) won at the auction.
23. Bidders and buyers acknowledge and understand that STPI may process their personal data in accordance with their privacy policies as published at {}.
24. The auction shall be subject to, governed by and interpreted in accordance with the laws of Singapore for every purpose.

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