The bid is accepted by the highest bidder after the minimum price or higher has been reached, either after the bidding period has expired or at the moment when no further bids are submitted and the auction is closed by Emil Frey Classics.
Acceptance of the minimum bid – “Sold”
When the bid is accepted and the minimum bid (minimum price) or higher is reached, a legally binding purchase contract is concluded between the seller and the highest bidder.
Bid accepted below the minimum bid – “Reserved, not sold”
If a bid is made at a price below the minimum bid (minimum price), the vehicle is considered “not sold subject to reservation.” Vehicles that could not be sold during the auction or for which the minimum bid was not reached can be renegotiated after the auction in consultation with the consignor or owner. In such cases, Emil Frey Classics acts exclusively as an intermediary between the potential buyer and the consignor or owner, unless it expressly acts as the seller itself. A purchase contract is only concluded with the express consent of both parties.
Reservation of Emil Frey Classics
Emil Frey Classics reserves the right to decide freely on the acceptance of bids. In particular, it may refuse or cancel the bid, interrupt or cancel the auction, withdraw the auction item or put it up for auction again, and reject bids.
