An auction is not only an exciting event, it’s one of the most enjoyable (and cost effective!) ways to purchase new additions to your collection.
If done correctly, participating in an auction requires planning, speed and composure. This may sound like an intimidating combination, but the truth is the Internet Age has made purchasing items at auction easier than ever before.
To help ensure your successful participation in your next Kedem auction, we’ve compiled the following step-by-step guide to steer you through the auction buying process. Feel free also to contact Kedem and we’ll be delighted to assist you with the buying process and answer any questions you may have.
1Registration and login
Before you can participate in a Kedem auction, you need to register with us. There are two ways to do this:
Online registration: First-time online participation in Kedem auctions requires pre-registration by clicking the ‘Join Us/Sign In’ button at the top of the Kedem website page. This registration requires approval by a Kedem representative. Once your registration has been approved, you will be notified by Kedem via email and from that time on you can login to the Kedem website and participate in online auctions using the username and password you chose when registering.
On-site registration: If you choose to attend and participate in a live Kedem auction, you will be asked to complete a registration form and present identification at the entrance to the auction premises. (Please note that not all our auctions are conducted in front of a traditional live audience, therefore we recommend online registration prior to participating in an auction).
2 Finding items of interest
Before each auction, we publish an auction catalog detailing the items (‘lots’) on offer in the upcoming auction. The catalog lists each lot name together with a lot description that includes background information, a brief condition report, specifications, photos and the lot’s opening price. The information in the auction catalog is researched and written by our specialists and we are committed to the particulars therein. All Kedem catalogs are posted on our website a couple of weeks before the auction date. For some of our auctions, the catalog is also printed and sent via mail to Kedem’s customers.
Following are a few methods by which you can find items of potential interest in a Kedem auction catalog:
Login to the online catalog of the upcoming auction on the Kedem website and use the catalog Search and Filter tools to find your preferred items.
Register to the Kedem newsletter to receive email notifications of our upcoming auctions. You can define custom personalized keywords on our website and having done so, the email updates we send you will include a customized list of items in the auction that match your pre-defined preferences.
Visit Kedem’s offices (8 Ramban Street, Jerusalem) during the traditional pre-auction preview that takes place during the days leading up to the auction. The preview is open to the public and does not require registration or an obligation to participate in the auction itself. We would be delighted to meet you and discuss and answer any questions you may have about the various items on offer.
For Kedem auctions for which a printed catalog has been published, let us know and we’ll be happy to send you a complimentary copy.
3Participation in Kedem auctions
For our buyers’ convenience, Kedem offers a choice of four participation options. Prior to participating, we recommend reading the auction Terms and Conditions published in the auction catalog and on the Kedem website.
Bidding in the auction room: Some Kedem auctions are conducted by an auctioneer and take place in front of an audience seated in the auction hall at Kedem’s offices in Jerusalem (or at an alternative venue, as specified in the auction catalog). Participation in a live auction via in-room bidding adds to the thrill of experiencing an auction; however note that this option is not available for all Kedem auctions. If in doubt, please contact a Kedem representative before the auction. Upon arrival at the auction and after completing the auction participation form with your name and contact details, you will receive a bidding paddle with a number. During the auction, the auctioneer announces the lots on offer in the order they appear in the auction catalog. If you wish to bid on a specific lot, you wait for this lot to be announced by the auctioneer. If there are no preliminary bids on the lot, the auctioneer will announce the opening price as published in the catalog. To bid, raise your paddle, signaling to the auctioneer that you are interested in this lot at the opening price. In case of preliminary bids on the lot or should another bidder outbid you, you can raise your paddle again to indicate to the auctioneer that you wish to increase your bid. Bid increases are based on the bidding increments announced in advance in the auction catalog, or according to the auctioneer's decision.
Preliminary bids: If you cannot attend the live auction, you can leave preliminary bids for the lots that interest you directly on the Kedem website (up to two hours before the auction starts) or by completing the Preliminary Bids Form in the auction catalog and emailing or faxing the completed form to Kedem (up to 24 hours before the auction starts). You will win your chosen items at the lowest price that both outbids the highest competing bid and does not surpass your maximum preliminary bid.
Telephone bidding: Kedem provides the option of live phone bidding for customers who want to participate in the live auction but cannot physically attend. Contact our offices or email/fax us a signed participation form (no later than 24 hours prior to the auction start) specifying the numbers of the lots on which you would like to bid and your contact phone number. A Kedem sales rep will call you during the auction shortly before the relevant lots are announced by the auctioneer. When the lot comes up for auction the sales rep will act as your physical representative in the auction room, bidding on your behalf based on instructions you give via the phone. Please note that requesting to bid for a lot via live phone bidding is a commitment to purchase the lot at its opening price.
On-line bidding: To participate in a Kedem auction online via our website you must first pre-register, as described above. You can then either place a preliminary bid via the website before the auction, or participate in the live auction in real-time on the Kedem website. Please note that some of our auctions are conducted only on the Kedem website and online bidding – whether via preliminary bidding or via live, real-time bidding – is the sole participation method.
IMPORTANT: All opening prices in the auction catalog and announced prices during the auction do not include the buyer’s premium and Israeli VAT on the premium (if required by law), nor shipping fees. For further information, please read the Kedem Terms of Use.
4 Payment and Collecting Items
If you were successful in purchasing an item at auction, congratulations! You will be contacted by a Kedem representative and sent an invoice within a few days after the auction. This invoice includes the purchase price ("hammer price"), the buyer’s premium and Israeli VAT (which is usually applicable to the commission only with the exception of items marked with an airplane which would require VAT on the entire hammer price conforming with Israeli export laws) and/or shipping fees as applicable.
“Kedem” Public Auction House (“Kedem”) acts as an agent for sellers of items to be offered for sale to the public (‘the Sellers’).
“Kedem” will produce a catalogue for every sale (‘The Catalogue’), which will include a list of items available at the sale, their serial numbers and opening prices. For the avoidance of doubt, information provided in the Catalogue, including opening prices, descriptions of items and any other information concerning the items, are solely for the purpose of information for potential buyers and are in no way to be construed as stand and\or obligation on behalf of “Kedem” and\or its employees and\or representatives.
Additionally, "Kedem" will conduct online auctions which will take place online only, without an auctioneer or printed catalogue, which will hence be called "online auctions".
All rights to content and pictures, in the catalog and on the website, are reserved to “Kedem”. You shall not use any images for any purpose, without permission and credit.
“Kedem” will appoint a person as manager of the sale (‘the Auctioneer’) who will be responsible on its behalf for the execution and management of the auction.
The Auctioneer reserves the right to prevent participation in the auction of any person. The auctioneer reserves the right to determine the winner of each lot, to cancel the sale of any item (even after it’s sold) or to re-enter it for sale, at his own discretion and at any stage whatsoever. The auctioneer also has the right to withdraw or add items to the sale and to add or withdraw from the Catalogue any information about an item to be offered in the auction on the basis of information received by “Kedem” after the publication of the Catalogue.
In order to participate in the auction, a potential purchaser must obtain a numbered paddle before the auction which will enable him to bid at the auction.
The auction will be conducted using US Dollars as currency.
On the fall of the hammer and the acknowledgment of the numbered paddle of the offeror by the Auctioneer, the offeror`s offer will be binding and will be considered to be accepted and title to the item will pass to the offeror whose offer was accepted (‘the Purchaser’), subject to the fulfilment by the Purchaser of all payment obligations to “Kedem” as set out hereunder.
The amount mentioned in an offer at a sale by a Purchaser which is accepted) the Hammer Price( shall be paid to "Kedem" by the Purchaser, together with a commission ('the Commission') ) and Israeli VAT on commission only. The commission per lot will be 23% of the hammer price up to and including $180,000, 18% of the portion of the hammer price above $180,000 up to and including $1,000,000, and 12% of the portion of the hammer price above $1,000,000. Payment to "Kedem" shall be effected immediately upon the conclusion of the auction but, at any event, not later than seven days after the date of the auction. The commission in online auctions will be 25% of the hammer price.
The airplane sign by the title of a lot indicates an item that arrived from outside Israel and is subjected to the Israeli tax laws, meaning an 17% value added tax on the purchase price and the buyer's commission. This tax will not be collected from foreign residents paying in foreign currency and exporting the item(s) via a shipper recognized by Kedem.
Payment can be made in cash (New Israeli Shekels or US Dollars), check (NIS or US Dollars), credit card (up to $25,000) or via bank wire transfer.
It is the responsibility of the buyer to collect the purchased items directly from the offices of “Kedem,” or have them collected by a delivery service or courier on his behalf. In certain cases in which a buyer so requests, “Kedem” can, at its sole discretion and without taking or accepting any responsibility for damages or loss, pack and ship the items to the buyer, provided the buyer pays in advance for the full cost of shipping and handling. The cost of shipping and handling varies according to type, size and weight of the package, the shipping method and the shipping destination. For further information about shipping methods and charges, please contact “Kedem.”
A Purchaser is liable to pay interest on any delay in payment, at the rate of 2% per month of the amount payable, with adjustments to index-link all outstanding amounts payable to the Dollar Exchange Rate. Please note that all payments in virtue of the agreement with Kedem Auctions are subject to the heter iska at Bank Leumi
The purchaser, whether for himself or for another, is obliged to pay for the items and take them. The auctioneer has the right to take any means he thinks appropriate to ensure the purchaser keeps his obligation, among these to cancel a sale, sell the item to another, charge the purchaser with any expenses caused to the auctioneer including interest and index linkage, sue for compensation, delay the release of the item and add all expenses to the sum due.
“Kedem” is responsible for the information given regarding the items’ nature, originality and condition. However all information given by “Kedem”, in its capacity as agent for the consignor, and based on accumulated information and the experience of its experts. It is entirely the responsibility of the prospective purchaser to check and inspect the items to determine condition, quality, authenticity, size, authorship during the allocated time prior to the auction. The purchaser may submit in writing, any doubts regarding the authenticity and condition of the item within 30 days of the sale. If it is proven to “Kedem” that there has clearly been an error in the information which was given relating to any item, “Kedem” shall refund any sums paid by the purchaser and the item shall be returned to the possession of “Kedem”. Subject to this obligation, the purchaser shall have no claims and\or further demands with respect to that item.
A purchaser is obliged to collect the purchased item and to fulfill his obligations to pay for the item no later than seven days from the date of the sale of the item. For the avoidance of doubt, the right to possession of the item will pass only once the purchaser has fully filled his payment obligations as set out in these conditions.
“Kedem” will represent, free of charge, potential purchasers who do not wish or who are unable to attend the auction. These potential purchasers are requested to complete the Rights to Bid form in the catalogue or website, no later than one day prior to an auction. “Kedem” will not be liable, under no circumstances, for any error, emissions in connection therewith.
Any potential purchaser who wishes to participate in the auction via telephone shall make the necessary arrangements within a reasonable time before the commencement of the auction.
The courts of Jerusalem, Israel, shall have the sole jurisdiction in any dispute between “Kedem” and the purchaser or any potential purchaser, based on the details of this agreement and\or related to the sale and\or to the transfer of any item.
In any case of doubt, the Hebrew version of this Terms Of Sale will be the binding document.
Online Terms of Use
Kedem provides online bidding as an alternative bidding service and it should not be considered a substitute for bidding in the room. We encourage our clients to weigh the advantages and limitations of live online bidding.
Kedem is pleased to offer internet services as a convenience to our clients, but we will not be responsible for errors or failures to execute bids placed on the internet, including, without limitation, errors or failures caused by (i) a loss of connection on Kedem's or your end; (ii) a breakdown or problems with the online bidding software and/or (iii) a breakdown or problems with a client's internet connection, computer or system. Execution of online internet bids is a free service subject to other commitments at the time of the sale and Kedem does not accept liability for failing to execute an online internet bid or for errors or omissions in connection with this service.
Naturally, a live auction proceeds quickly and bidding can often progress very rapidly. To ensure that online bidders are not are not placed at a disadvantage when bidding against bidders in the room or on the telephone, the procedure for placing bids through Kedem is a one-step process. As soon as the "Bid" button is clicked, you submit your bid. By doing so, you accept and agree that the bids you have submitted in this manner are final and that you will not under any circumstances be permitted to amend or retract your bid.
If Kedem receives a successful bid from your computer, you accept personal liability to pay the purchase price, including the buyer's premium and all other applicable charges.
During a live auction, when bids other than internet bids are displayed, they will be displayed on the internet bidder's computer screen as "room" bids. "Room" bids include those bids taken from the live auction room, telephones or absentee bidders. In the event of a tie between an online bid and a "room" bid, the "room" bid generally will take precedence.
Kedem reserves the right to refuse or revoke permission to bid online and to remove online bidding privileges during the auction.
The record of sale, kept by the auctioneer and clerk, will be the absolute and final word in all disputes. In the event of any discrepancy between an online record or message provided to you and the record of sale kept by the auctioneer and the clerk, the record of sale will govern.
which would require VAT on the entire hammer price conforming with Israeli export laws) and/or shipping fees as applicable.