IronGate Fine Wine Auction

Auction Terms and Conditions

The auction will commence on Tuesday, February 6, 2024 at 8.00 Mountain Time and will begin to close on Tuesday, February 13, 2024,  beginning at 18.00 Mountain Time with lots closing every 5 seconds.  If a bid is placed on a lot within the last five minutes of the auction, the bidding will continue until no further bids have been received after a five minute interval.

Participation in any online auction hosted on the Iron Gate Auctions Inc. website (the “Site”) is subject to the following Auction Terms and Conditions which govern all Iron Gate Auctions as posted on the Site, as posted in the auction showroom, and as set out in any catalogue. IronGate Auctions Inc. (the “Auctioneer”) reserves the right to modify or update the Auction Terms and Conditions without prior notice. It is the responsibility of all prospective buyers to review any and all changes made to these Auction Terms and Conditions prior to each use of this Site. Modifications and changes are effective and binding when posted on the Site. By using the Site, you agree in advance to accept all Auction Terms & Conditions, including such changes.

 

 

1. Definitions:

Definitions:

As used herein, the following words are defined as described below:

“Bidder” means any person participating, making, or attempting to make a bid at an auction sale, either Online or Live.

“Buyer” means a person who makes the highest bid accepted at the closing of an “Online Auction” or by the auctioneer in a “Live Auction”, except as otherwise provided in Iron Gate Auctions’ Discretion in Relation to Bidding/Purchasing, Paragraph 4 a) b) or c) below.

“Online Auction” is the sale of a Property or Lots which is conducted by means of Iron Gates Online Auction Platform and assorted technical services accessible solely by online means and which enables Buyers to bid for and buy Lots in a time-based auction.

“Live Auction” is the sale of Property or Lots which is conducted in person under a Licenced Auctioneer in a live, public forum.

“Hammer Price”: means the highest bid accepted from a “Bidder” for a Lot during an Online or Live Auction, unless Iron Gate Auctions decides to use its authority as set out in Iron Gate Auctions’ Discretion in Relation to Bidding/Purchasing, Paragraph 5 a) b) or c) below. This means a contract for sale has been formed between the seller and the successful bidder.

“Buyer’s Premium” means the commission payable by “Buyer” to Iron Gate Auctions, which is 17.5% of the “Hammer Price”.

“Import Duties” means duties, tariffs, permits, rates, schedules, taxes, and preliminary statements or require licenses or other charges required by laws, rules, or restrictions governing importation of alcoholic beverages, as those laws, rules, or restrictions may be amended, adjusted, increased, renegotiated, replaced, or restated from time to time.

“Purchase Price” means the sum of the “Hammer Price”, the “Buyer’s Premium”, and any applicable taxes.

“Property” means an item offered for sale at an auction.

“Lot” means a collection of one of more items offered for sale as a single unit at an auction.

"Reserve" is the confidential minimum price which the Seller has agreed to accept for a Lot below which the Lot cannot be sold.

“Seller” means the consignor of the Property.

“Conditions of Sale” The legal terms that govern the conduct of the auction including the acceptable methods of payment, terms, buyer’s premium, reserve bids or any other limiting factors of an auction.

 

1. Description of Property for Auction

Iron Gate Auctions endeavors to describe each Property or Lot as carefully and accurately as possible, however, Iron Gate Auctions and the Seller do not warrant or represent, and deny responsibility for, the accuracy of Catalogue or Lot descriptions and photographs encompassing but not limited to provenance, vintage, authenticity, quality, colour and condition as may be stated in the description, on a condition report, or in catalogue photography. All statements are a matter of opinion only, and cannot be construed as warranties or representations of fact or assumptions of any liability on the part of Iron Gate Auctions or the Seller.

Wines are inspected, catalogued and lotted as accurately as possible prior to the time of sale, including the ullage levels, if Iron Gate Auctions believes significant changes have occurred since bottling. However, it is possible that levels may change between cataloguing and date of sale. Iron Gate Auctions believes that all Property sold at auction has been properly stored before being delivered to Iron Gates’s temperature and humidity-controlled cellars. Buyers of older and more fragile wines must make allowances for natural variations of ullage and general condition, including corks, cases and labels. Wines of less than 20 years of age have been determined by Iron Gate Auctions, based on our professional judgment, to be in generally excellent condition unless otherwise indicated. The absence of any such reference does not imply that an item is free from defects, nor does a reference to particular defects imply the absence of any others. All lots are sold “AS IS” without any representation or warranty of any kind by Iron Gate Auctions or the Seller. Lot descriptions may be subject to written or verbal revision and amendment by Iron Gate Auctions prior to the time of sale. Neither Iron Gate Auctions nor the Seller shall be responsible to the Buyer for errors or omissions, written or oral made at any auction, in the catalog, email, tasting notes, estimates, or in any communication by Iron Gate Wines.

Examination of Lots: As a prospective buyer, you are strongly advised to examine personally the high definition photographs of any Lot on which you are interested in bidding, before the auction takes place. Should you with to examine the Lot in person, appointments must be made in advance for viewings at our Calgary offices. We can provide high definition pictures of the lots upon request as well as Condition Reports. By placing a bid online, you agree that you have either inspected the respective lot or have waived your right to do so.

Pre-sale Estimates are provided by Iron Gate Auctions as a guide for prospective Bidders to assist them with determining the appropriate amount to bid for a Lot. Estimates are based on the condition, rarity, quality and provenance of the lots and on prices recently paid at auction for similar property. Estimates do not include the buyer’s premium or any applicable taxes. All Pre-sale Estimates are in Canadian dollars.

Unless otherwise specified, all Lots are offered subject to a Reserve, which is the confidential minimum price the seller will accept and below which the lot will not be sold. Reserves shall be no higher than the low Presale Estimate at the opening time for the applicable Online Auction. Under no circumstances will the system place any bid on behalf of the Seller at or above the Reserve.

Notwithstanding the previous conditions, if a Lot has been determined to not be correct, a letter from a qualified specialist must be provided to Iron Gate Auctions within 14 days of the close of the online auction.

 

2. Bidder Registration and Representation

In accordance with Alberta law, wine and spirits may only be sold and delivered to persons 18 years of age or older. By registering to bid, you confirm that you are at least that age. Proof of age may be requested. Each buyer represents and warrants that he or she will ensure that any purchased lots to be shipped will not be delivered to or received by any persons less than 18 years of age or age of majority in the province where the wine is being shipped.

The buyer agrees to comply with all laws, statutes, tariffs, ordinances and regulations regarding bidding, purchase and transport of lots. The amount and/or type of alcoholic beverages purchased and taken into another province, state or country may be limited or entirely prohibited. The buyer is responsible for compliance with all applicable tax laws, duties and exportation and importation requirements. Iron Gate Auctions does not ship wine and is not responsible for the actions or costs of any third party shipper.

If you are a New Bidder, you must register 48 hours in advance at www.irongateauction\registration.com to allow us enough time to verify and process your registration. We may also ask you to give us a valid credit card as a condition of allowing you to bid.

You will be kindly asked to provide:

a) For Individuals: Photo identification (driving licence, national identity card or passport) and, if not shown on the ID document, proof of your current address (for example, a current utility bill or bank statement).

b) For Corporate Clients: Your Certificate of Incorporation or equivalent document(s) showing your name and registered address together with documentary proof of directors and beneficial owners.

If you are a Returning Bidder, we may request, at our discretion, to ask you for current identification as described above in 2a) or 2b) above, a financial reference or a deposit as a condition of allowing you to bid. If you have not purchased anything from Iron Gate Auctions in the previous two years or if you want to spend more than on previous occasions, please contact our Client Services 888-371-2228 x714.

Bidding on Behalf of Another Person: As authorised bidder, if you are bidding on behalf of another person, that person will need to complete the registration requirements above before you can bid, and supply a signed letter authorising you to bid for him/her.

Please note: Bids left online, even bids left in “error”, are legally binding and are non-retractable. Once you place a bid, and if successful, you are obligated to buy the lot at the said price you indicated as the Hammer Bid amount, plus Buyer’s Premium, and applicable taxes. Failure to pay for your successful purchase may result in prosecution, suspension or permanent ban from registering for future auctions. The security of your Bidder information is your sole responsibility as you, the Bidder, will be responsible for any and all bids placed under your account.

All sales are final and therefore no refunds, exchanges, discounts or returns accepted.

On no circumstances is a consignor of Property to Iron Gate Auctions permitted to bid on his or her own consigned Lots.

 

3. Iron Gate Auctions’ Discretion in Relation to Bidding/Purchasing

a) Iron Gate Auctions reserves the right, in our absolute discretion, to reject your registration to bid, reject any bid, refuse entrance to a live auction premise or participation in any auction.

b) Iron Gate Auctions reserves the right to disable or deactivate your account at any time during the sale.

c) Iron Gate Auctions reserves the right to withdraw or divide any lot or combine any two or more lots; in the case of error or dispute restart or continue bidding even if the bidding is finished; cancel the sale of a lot; or re-offer or re-sell any lot. If any dispute relating to bidding arises during or after the sale, Iron Gate Auctions’ decision in exercise of any of these options is final.

 

4. Connectivity and Technical Problems

Execution of online and mobile internet bids are a free service and convenience to Bidders.

Iron Gate Auctions shall not be responsible for any failure to execute such bids or any error relating to a bid including without limitation, errors or failures caused by: (a) loss of connection to the Internet of either Iron Gate Wines or Bidder; or (b) a breakdown or problems with Bidder’s Internet capacity, connection, corporate firewalls, device or other technical problems that may create difficulties for some users including (but not limited to) accessing sales and maintaining continuity of such access.

 

5. Online Bidding Process

a) Online auctions begin and end at a predetermined date and time.

b) Bids may only be submitted between the dates and times specified for that lot.

c) Bidding generally opens at or below the low estimate and increases in bidding increments to be determined at the sole discretion of Iron Gate Auctions. The currency for all Iron Gate Auctions is Canadian dollars.

Bidding increments are as follows:

$100 to $500                 by $20

$500 to $1000               by $50

$1000 to $2000             by $100

$2,000 to $3,000           by $200

$3,000 to $5,000           by $250

$5,000 to $10,000         by $500

$10,000 to $20,000       by $1,000

$20,000 to $30,000       by $2,000

$30,000 to $50,000       by $2,000

$50,000 to $100,000     by $5,000

$100,000 to $500,000   by $10,000

All increments subject to the discretion of the auctioneer

d) As soon as you place and confirm your bid amount, the bid is submitted (subject to any pre-determined credit limit). You accept and agree that bids submitted in this way are final and that you may not, under any circumstances, amend, retract or revoke your bid.

e) The highest bid accepted at the Lot closing will be the successful bid. The close of a successfully bid Lot signifies the acceptance of a contract with Iron Gate Auctions, selling as agent for the seller. As a Bidder you are responsible for any bids placed under your bidding account.

 

6. Buyers Premium, Invoices and Taxes

a) Auction purchases are subject to a 17.5% Buyer’s Premium on the Hammer Prices of all sold Lots. All auction purchases are also subject to GST of 5% on the Hammer Price and Buyer’s Premium unless specifically stated otherwise.

b) The Auctioneer will not be required to split payments between settlement methods.

c) Invoices will be emailed to successful bidders within 12 hours of the close of the auction. Invoices are to be settled within three days of the close of the auction.

d) Accounts not settled by the deadline will be charged to the credit card used for registration.

 

7. Shipping and Collection of Sold Lots

Confirmation of pickup or delivery of Iron Gate Commercial Auction winnings must be made within 60 days of auction close. Thereafter, your winnings will be subject to storage fees, including a $75 setup, subsequent $5.00/case/month and $1.25 per bottle fee for inventory services. If no contact has been made within two years, auction winnings will be considered abandoned.

It is the responsibility of the buyer to make all arrangements for insuring, packing and removing the property purchased and any assistance by the Auctioneer, or the employees of, agents or contractors in packing and removal shall be rendered as a courtesy and without any liability to them. The Auctioneer shall not be liable for any errors or omissions or damage caused by packers and shippers, notwithstanding the fact that the Auctioneer may have recommended such shippers or packers to the purchaser.

 

8. This agreement comprises the entirety of the contract between Iron Gate Auctions and the Buyer. The Auctioneer shall not be held liable in respect of any representations not made in writing herein. This agreement shall be governed in accordance with the laws of the Province of Alberta. In the event of a dispute hereunder, the Buyer agrees to submit to the exclusive jurisdiction of the provincial courts and the federal courts sitting in the Province of Alberta.

 

9. Personal information, Privacy and Data Protection

If you have participated in our online auction, or asked to be on our mailing and e-mail notification list, we may have collected some or all of the following personal information: name, address, postal/zip code, telephone number, e-mail address, and credit card information. This information will only be used by Iron Gate Auctions. to provide you with information regarding our products and services, namely upcoming auctions and events. Iron Gate Auctions does not sell this information to third parties.

Card and other payment information is collected and processed directly by a third party service provider (“Payment Service Provider”) and not by Iron Gate Auctions. We provide the following information to the Payment Service Provider to enable payment to be processed: (i) name; (ii) billing address; and (iii) transaction amount. The Payment Service Provider may undertake fraud prevention reviews prior to processing any payment or as part of the payment process. Payment specific information which is submitted to the Payment Service Provider is processed on PCI compliant secure servers. The information submitted and used for processing payments is as below: - Name and contact details including shipping and billing addresses - Credit or Debit Card information - Total transaction value - Your IP Address from which you are checking out from (d) Iron gate Auctions does not have access to, or retain any credit card or other payment information details.

Iron Gate Auctions are conducted under Alberta Auction License PAR 114. Authorized by the AGLC.