General Terms:
1. All listed prices are in Singapore Dollars.
2. Images are for reference only; all auction lots are sold on an “as is” basis. The Private Museum provides descriptions to the best of its knowledge. No warranties or guarantees, either expressed or implied, are provided regarding the condition, authenticity, or provenance of the items. Bidders are encouraged to carefully inspect items before placing bids. By participating in The Private Museum Charity Auction, bidders acknowledge and accept the “as is” condition of the auction lots.
Placing a Bid:
3. Bids will follow specified increments, as outlined by the appointed Auctioneer. The appointed Auctioneer has the discretion to set or change bid increments.
4. Each bid is a commitment and agreement to purchase the auction lot at the bid price. You agree to pay the full amount of your bid if, upon completion of the auction, you have the highest bid.
5. The highest bid acknowledged by the appointed Auctioneer is the winning bid. The appointed Auctioneer’s decision is final.
6. All sales are final. There will be no exchanges or refunds.
7. All bids are only finalised upon written confirmation from The Private Museum.
Payment for Successful Bids:
8. Payment for successful bids must be made in full to The Private Museum within 30 days of the issuance of the invoice. The Private Museum accepts PayNow or bank transfer, payment details will be detailed in the invoice issued.
9. All bank charges will be borne by the donor.
10. Auction bids are exclusive of Singapore’s prevailing GST rate. If the final delivery location of the item is in Singapore, the prevailing GST rate will be applied on the estimated market value, or the final bid price, whichever is lower.
Donation Tax Benefits
11. 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.
12. Upon a successful bid, donor must provide legal name and tax reference number (NRIC/ FIN/ UEN) through filling in the Artwork Reservation Form in order to be eligible for tax deduction.
13. The Private Museum will submit the tax-deductible donation information to the Inland Revenue Authority of Singapore (IRAS).
Delivery of Artworks/Experiences:
14. For international bidders, VAT upon delivery/shipment shall apply based on destination country.
15. The Private Museum will arrange for the delivery of artwork(s) and/ or experiences(s) to one address per successful lot. Re-delivery, insurance, and installation of artworks are not included. Additional charges are to be borne by donor if required.
Other Terms:
16. All auction lots have been kindly donated by the respective parties and as such, any respective terms and conditions are applicable.
17. The Private Museum reserves the right to add or withdraw auction lots without notice, to or from the auction.
18. The Private Museum cannot be held responsible or liable for any risks or hazards related to the artwork(s) and/or experience(s) won at the auction.
19. The auction shall be subject to, governed by and interpreted in accordance with the laws of Singapore for every purpose.
By participating in The Private Museum Charity Auction, bidders acknowledge and agree to abide by these rules.