Gavel & Ledger

Version 2026-10-05.2

Auction terms

These terms apply to every lot and every bid. You accept them for each lot before you can bid on it. For a plain walkthrough, see How it works.

1. About this auction

  1. 1.1This site is run by RMC Holdings Co Pty Ltd (ACN 675 135 618) ("we", "us"). Each lot is sold by its owner, named on the lot page (the "Seller"). Where the lot page names us as the Seller, we own the lot and sell it ourselves. Bidders pay us no fee for bidding.
  2. 1.2The contract of sale for a lot is between the winning bidder and the Seller. These terms, together with the sale details on the lot page as they stood when the auction closed, are the whole of that contract.
  3. 1.3By registering for a lot and by placing each bid you agree to these terms.

2. Who can bid

  1. 2.1You must be 18 or over and legally able to enter a binding contract.
  2. 2.2Before you can bid on a lot you must: confirm your email and phone number; sign in with two-step verification; pass an identity check using a government photo ID and a matching selfie; accept these terms for that lot; pay the bidding deposit for that lot; and be approved by us.
  3. 2.3If you bid for a company or another person, you confirm you have their authority to bind them. If you do not, you are personally bound by your bids.
  4. 2.4The Seller, its owners, directors, staff and their families, and anyone acting for any of them, cannot bid. Nobody may bid to push up the price for the Seller. No bids are placed on the Seller's behalf.
  5. 2.5Some lots have their own conditions, stated on the lot page (for example, a .com.au domain name can only be held by a buyer with an Australian presence). By bidding you confirm you meet them.
  6. 2.6We may decline a registration, and we may remove a bidder who has broken these terms or the law. We will not remove a bidder simply because of how much they have bid.
  7. 2.7One account per person. Keep your sign-in details and authenticator to yourself: every bid placed from your account is your bid.

3. Check before you bid

  1. 3.1Each lot page describes what is being sold, and approved bidders can see further material in the data room and ask questions. Answers are published to every approved bidder on that lot.
  2. 3.2Do all your checking before you bid. Your bid is not conditional on finance, on further checks, on advice, or on anything else.
  3. 3.3Figures on a lot page are stated as at the date shown beside them. Past figures are not a promise about the future.
  4. 3.4Data room material is confidential. Use it only to decide whether to bid, and do not pass it on.

4. How bidding works

  1. 4.1Bids are in whole Australian dollars. Each lot shows its starting price and the minimum next bid.
  2. 4.2The amount you enter is your maximum bid. It is kept hidden. The system bids for you, one step at a time, only as far as needed to keep you in the lead, and never above your maximum.
  3. 4.3The steps are shown on the lot page. The price can occasionally move by less than a full step, when one bidder's maximum is only slightly above another's.
  4. 4.4If two bidders have the same maximum, the one who placed it first leads at that amount.
  5. 4.5While you are leading you can raise your maximum. Doing so does not change the current price. You cannot lower a maximum.
  6. 4.6You will be asked to confirm every bid before it is placed. Check the amount: a confirmed bid stands as entered.

5. The close, and late bids

  1. 5.1Each lot shows its closing time. If a bid in the last 10 minutes changes the price or the leader, the close moves to 10 minutes after that bid. This repeats, with no limit, until 10 minutes pass with no such bid.
  2. 5.2The auction runs on our system's clock. A bid counts at the moment our system processes it, not when you sent it. The countdown on your screen is a guide and can lag. Do not leave a bid to the last seconds.
  3. 5.3A bid that reaches our system at or after the close is not accepted.

6. Bids are final

  1. 6.1Every bid is a binding offer to buy the lot at any price up to your maximum. Once placed, a bid cannot be withdrawn, cancelled or reduced, before or after the close. As far as the law allows, you give up any right to withdraw a bid before the close.
  2. 6.2One exception: if we materially change the description of a lot after you have bid on it, we will tell every bidder on that lot, and you may withdraw your bids on it by writing to us before the close.
  3. 6.3Final means you cannot change your mind. It does not take away any right you have under the Australian Consumer Law (see below).

7. The sale is made at the close

  1. 7.1There is no reserve price. When a lot closes, the highest bidder has bought it, at the price shown at the close.
  2. 7.2A binding contract of sale between the winning bidder and the Seller is made at the moment of the close. Nothing further needs to be signed for it to bind either side. The Seller is bound to sell on the same footing as the winner is bound to buy.
  3. 7.3After the close we will send the winner a written record of the sale and the transfer documents needed to hand the assets over.
  4. 7.4Once a lot has received a bid, the Seller cannot withdraw it or end the auction early, except where the law requires it or under the section on technical problems below.

8. The deposit

  1. 8.1Each lot has a bidding deposit, shown on the lot page, paid by card before you can bid on that lot.
  2. 8.2If you do not win, your deposit is refunded in full within 3 business days after the lot closes.
  3. 8.3If you win, your deposit is refunded in full once you have paid the full price into escrow on time.
  4. 8.4If you win and do not pay the full price on time, the Seller keeps your deposit. The deposit is set as a fair estimate of the cost of running the sale again and is no more than 10% of the lot's starting price.

9. Payment and handover

  1. 9.1The winner must pay the full price within 5 business days after the close, into an Escrow.com transaction that we set up (Escrow.com is operated in Australia by Payments Australia Pty Ltd, AFS licence 501215). The Seller pays the escrow fee. Do not pay anyone directly: we will never ask you to pay into a bank account by email.
  2. 9.2Escrow.com will carry out its own identity checks before accepting payment.
  3. 9.3Once the price is in escrow, the Seller hands over the assets listed on the lot page, in the way described there.
  4. 9.4The winner then has 7 days to confirm the assets were delivered as described on the lot page. If the winner confirms, or the 7 days pass without a written complaint that something described was not delivered, the money is released to the Seller. The inspection period is for checking delivery against the description. It is not a right to change your mind.
  5. 9.5Each lot page states how GST applies to that lot. If it says nothing, the winning bid is the total price and includes any GST.

10. If the winner does not pay

  1. 10.1If the winner does not pay in full on time, the Seller may cancel the sale and keep the deposit, and may recover any further loss the failure causes, to the extent the deposit does not cover it.
  2. 10.2The Seller may then offer the lot to the next highest bidder at that bidder's highest bid. That bidder is free to accept or decline.
  3. 10.3A winner who does not pay may be barred from this and future auctions.

11. What the Seller promises

  1. 11.1The Seller promises that it owns the assets listed on the lot page, has the right to sell them, and will transfer them free of any debt or claim.
  2. 11.2The Seller promises that the description on the lot page was accurate, to the best of its knowledge, at the dates shown.
  3. 11.3If the Seller cannot complete the sale, the winner's deposit and any money paid are returned in full.

12. Your rights under consumer law

  1. 12.1Nothing in these terms excludes, restricts or changes any right or remedy you have under the Australian Consumer Law or any other law that cannot be excluded by agreement.

13. Fair bidding

  1. 13.1You must not bid on behalf of the Seller, agree with other bidders not to bid against each other, use more than one account, or interfere with the site.
  2. 13.2If we find a bid was made in breach of this section, we may cancel that bidder's bids, remove the bidder, and keep their deposit to the extent of the loss caused.

14. Technical problems

  1. 14.1If the site has a fault that stops bidders bidding, we may pause a lot. A paused lot cannot close. When it resumes, the close is moved later by at least the length of the pause, and all bidders on the lot are told.
  2. 14.2We may move a lot's close later. We will never move it earlier.
  3. 14.3If a fault means a lot cannot be run fairly, we may cancel that lot's auction before it closes. If we do, no sale is made and every deposit for that lot is refunded in full.
  4. 14.4We cannot be responsible for bids that do not reach us because of your device, your connection, or anything else outside our control.
  5. 14.5Our system's record of the bids, their order and their times is the record of the auction, unless it is shown to be clearly wrong.

15. Identity checks and privacy

  1. 15.1Identity checks are carried out by Stripe. You will be asked for a photo of a government-issued ID and a selfie, which Stripe compares. By starting the check you consent to that comparison. We receive the result, your name and the type of document. We do not keep copies of your ID or selfie.
  2. 15.2We use your details to run the auction, to complete a sale, and to meet our legal obligations. We do not sell them. Other bidders see you only as a number (for example, Bidder 3).
  3. 15.3The winner's name and contact details are given to the Seller and to Escrow.com to complete the sale.

16. General

  1. 16.1Neither we nor the Seller are liable to you for indirect loss, and you are not liable to us or the Seller for indirect loss. This does not limit liability for fraud, for a deposit or price owed under these terms, or for anything that cannot be limited by law.
  2. 16.2The version of these terms you accepted for a lot applies to that lot until it closes. If we change the terms for a lot after you have registered for it, you will be asked to accept the new version before you can bid again.
  3. 16.3If part of these terms cannot be enforced, the rest still applies.
  4. 16.4These terms are governed by the law of New South Wales, Australia.

Auction terms, version 2026-10-05.2. The version you accepted for a lot applies to that lot until it closes.