Effective Date: 1/17/2020
Last Revised: 6/18/2025
These Conditions of Sale govern all wine auction transactions conducted through Zachys Wine Auctions, Inc., Zachys Asia Limited, and any affiliated entities (“Zachys”).
Zachys operates auctions in different regions under the following entities:
In all cases, Zachys acts as an agent on behalf of the Consignor - the individual or company selling the wine.
By participating in any auction, the bidder (referred to as the "Buyer") agrees to follow the terms outlined in this Terms & Conditions document, whether reading them online or in print.
All bidders must register in advance and provide valid identification. New bidders may need to provide:
By registering, you confirm that you meet the legal age to purchase alcohol: 21+ in the U.S. and 18+ in Hong Kong.
Zachys and its affiliates retain the absolute right not to open or to close an account for any prospective Bidder and to refuse any prospective Bidder admission to, or participation in, any auction.
Zachys utilizes Stripe Identity as part of its registration process to verify bidder identities quickly and securely. Stripe Identity may require you to provide a valid government-issued ID and a live photo to confirm your identity. This process is designed to protect you and other bidders from fraudulent activity and ensure a safe, trusted auction environment. All personal information provided for identity verification is handled securely in accordance with our Privacy Policy.
All bidders who wish to attend a live auction must preregister for a bidding paddle at least two business days before the auction date. You can find the Bidder Pre-Registration Form at https://bid.zachys.com. Please complete the form and email it at least two business days prior to the auction. Bidders should arrive at the live auction at least 30 minutes before the scheduled sale of the lot they intend to bid on to retrieve their paddle.
Catalog estimates reflect anticipated hammer prices and are based on past sales and market research. Estimates are determined in advance of the sale and are therefore subject to revision. Buyers should not rely upon estimates as a prediction of actual selling prices.
Lots may carry a confidential reserve, which is the minimum price agreed upon with the consignor. The reserve is subject to change.
Unless otherwise indicated, a 25% Buyer’s Premium is added to the hammer price of each lot and is payable by Buyer.
To the fullest extent permitted by law, Zachys and any Consignor disclaim any liability for any inaccuracies, errors, or omissions in descriptions, as well as for any decisions made by the Buyer based on those descriptions. We strongly encourage prospective Buyers to carefully examine any lots before the auction at our temperature-controlled warehouse. Appointments can be scheduled for this purpose. Please contact Zachys at +1.914.448.3026 or +852.5803.8244 to arrange an appointment.
Bidding Process
Auctions may be conducted live, timed, or online. Bids are accepted:
- In-person during a live auction
- By phone (pre-arranged)
- By absentee (written bids submitted in advance)
- Online at auction.zachys.com
All bids are final once submitted and cannot be canceled. Bidders are responsible for monitoring their bids across all channels.
Zachys reserves the right to bid on any lot on its behalf, subject to the same terms and conditions applicable to all other Bidders.
Lots are auctioned in consecutive numerical order, as they appear in the catalog. The auctioneer will accept bids from (i) those present in the saleroom, (ii) absentee bidders participating by telephone, online or by written bids provided to Zachys prior to the first session of the auction, or (iii) live over the internet. The auctioneer may also execute bids on behalf of the Consignor's reserve; however, under no circumstances will the auctioneer place any bid on behalf of the Consignor at or above the reserve. The auctioneer will not identify bids placed on behalf of the Consignor. Prospective Buyers who have registered to bid by more than one method (for example, both as an in-saleroom and absentee bidder) must monitor all of their bidding activities (including in-saleroom bids, absentee bids, and online bids) to prevent bidding against themselves. All bids are final and will not be cancelled.
By participating in any auction — whether in person, through an agent, absentee bid, telephone, online, mobile app, or any other method — the Bidder warrants, represents, and covenants that:
(A) The Bidder is at least twenty-one (21) years of age;
(B) The Bidder has the legal authority, right, and capacity to purchase, receive, possess, and otherwise deal in any Lot purchased;
(C) Any bids made by the Bidder, or on the Bidder’s behalf, are not made pursuant to any anti-competitive agreement and fully comply with all applicable laws;
(D) All funds used to pay for any Property have not been obtained, directly or indirectly, from any criminal activity; and
(E) Neither the Bidder nor any party or entity on whose behalf the Bidder may be acting is subject to trade sanctions, embargoes, or any other restrictions on trade under the laws of the United States or any other jurisdiction in which the Bidder or such other party resides or does business.
For the avoidance of doubt, if the Bidder is acting as an agent on behalf of a principal, all of the above warranties, representations, and covenants shall apply equally to both the Bidder and the principal.
A parcel consists of a sequence of lots that share the same estimates and are of the same type, quantity, and bottle size. In this auction, the buyer of the first lot in a parcel has the option, at the discretion of the auctioneer, to purchase any or all of the subsequent lots in the parcel for the same price. If the buyer does not exercise this option for all lots in the parcel, the auctioneer will proceed to open bidding on the next unsold lot and will offer the buyer of that lot the option to acquire any or all of the remaining lots in the parcel sequence. Bidding will continue in this manner until all lots in the parcel have been offered and declared either sold or unsold by the auctioneer.
Live Online bidders who purchase the first lot in a parcel will receive a message prompting them to indicate how many additional lots they would like to buy. If the Live Online bidder does not respond to this message, the auctioneer will move on to the next unsold lot in sequence.
Bids should be placed on the first lot in a parcel. If a bid is placed on any subsequent lot, Zachys will attempt to transfer the bid to the first lot in the parcel. If the bid on the first lot is unsuccessful, it will then be applied to the next lot and so on, until all lots in the parcel have been offered.
Please note: Zachys offers the following services as a convenience to clients. Zachys is not responsible for any error in connection with or failure to execute absentee, telephone or online bids.
Live auctions will open for bidding on our website at https://auction.zachys.com approximately 3-4 weeks before the auction date. You can submit bids online during this period, and a maximum bid can be entered, which must be confirmed. Zachys uses predetermined bidding increments, and if a maximum bid doesn't align, you’ll be notified of the closest increment. Bids are executed immediately upon submission and cannot be canceled. By bidding online, you agree to the Conditions of Sale. In case of disputes, the auctioneer's decision is final.
If unable to attend, you can place absentee bids by submitting instructions to Zachys. They will attempt to bid for you at the lowest price possible. Your bid does not include Buyer's Premium or sales tax. Bids should be placed in numerical order, using the given increments. Submit absentee bids at least 24 hours before the auction starts.
Telephone bids are available during the live auction at Zachys' discretion and only for lots valued above 16,000 HKD or 2,000 USD. Arrangements must be confirmed 48 hours prior, and by submitting a telephone bid, you agree to the Conditions of Sale.
During a timed auction on https://auction.zachys.com, you can place bids anytime. You can submit either a starting or maximum bid, which must also be confirmed. All bids are executed immediately and cannot be canceled. Zachys assumes no responsibility for disputes or errors arising from online bid activity.
If bidding on a Lot does not reach its reserve price, the auctioneer may withdraw the Lot from sale. Upon doing so — and prior to commencing bidding on the next Lot — the auctioneer will announce that the Lot has been “passed,” “bought in,” or a similar term.
The Bidder submitting the highest bid accepted by the auctioneer shall become the Buyer. The fall of the auctioneer’s hammer signifies acceptance of that bid as the “hammer price” and the formation of a binding contract of sale between the Seller and Buyer. The auctioneer retains the sole discretion to reopen the bidding at any time during the auction. In such cases, no contract is formed until the final bidding process is completed.
The following increments will generally apply to all bids, whether placed in person, by agent, absentee, telephone, online, mobile app, or by any other means. However, all increments may be modified at the auctioneer’s sole discretion at any time. Any absentee bid not conforming to these increments will be rounded down to the nearest applicable increment:
|
Current Bid |
Increment |
|
$0-100 |
Increases by $10 |
|
$100-500 |
Increases by $20 |
|
$500-1,000 |
Increases by $50 |
|
$1,000-2,000 |
Increases by $100 |
|
$2,000-5,000 |
Increases by $200 |
|
$5,000-10,000: |
Increases by $500 |
|
$10,000-20,000 |
Increases by $1,000 |
|
$20,000+ |
Increases by $2,000 |
Zachys, its affiliates, and the auctioneers — along with their respective officers, directors, shareholders, members, employees, attorneys, representatives, agents, and assigns — shall have no liability for any errors, omissions, or failures related to the execution (or attempted execution) of any bids. This includes bids placed in person, by agent, absentee, telephone, online, mobile app, or other means, and extends to errors resulting from internet or platform connectivity failures on Zachys online or mobile app bidding platforms.
For each Lot purchased, the Buyer agrees to pay the hammer price plus a Buyer’s Premium of twenty-five percent (25%) of the hammer price (unless otherwise indicated), as well as any applicable taxes, unless otherwise noted.
In the case of charitable auctions —Bidders are encouraged to consult with their own tax advisors to understand the tax treatment of their purchases and to determine whether they may be eligible for a charitable contribution deduction. Bidders are further encouraged to review their specific tax circumstances with an independent tax advisor, including eligibility based on their tax residency or other applicable laws, to confirm whether a charitable deduction is available in any jurisdiction outside the United
Payment Terms
Payment for all invoices is due immediately upon receipt. You can make payments using a credit card or bank wire transfer. If a third party is making a payment on your behalf, Zachys may require an Authorization Letter from both parties.
For Internet Auction purchases, Zachys will automatically charge the credit card on file for the full invoice amount within 48 hours after the sale closes.
For Live Auction purchases, Zachys will automatically charge the credit card on file within 48 hours after the sale closes.
For all other purchases, buyers are expected to settle payments or any outstanding balances within 14 calendar days for live sales and within 7 calendar days for internet sales. After this period (14 or 7 calendar days, as applicable), Zachys reserves the right to charge the buyer's credit card on file for any amounts still outstanding.
Zachys reserves the right to cancel the sale related to any invoices that remain unpaid 31 days after the auction concludes.
Payment by Credit Card
All charges are subject to acceptance by Zachys and the respective credit card company. Zachys accepts Visa, MasterCard, American Express, Discover, and UnionPay. Payments can be made over the phone by calling +1.914.448.3026 or +852.2530.1971.
Please note that payments made by credit card will incur a 2% processing fee.
When making a payment via UnionPay, the winning bidder must sign the auction invoice and acknowledge that possession of the wine transfers from Zachys at the time of payment. The signature must match the one on the payment slip.
For U.S. auctions, payments are accepted in United States Dollars. For Hong Kong auctions, payments are accepted in Hong Kong Dollars. To request payment in another currency, please contact Zachys at +1.914.448. Zachys will determine the currency exchange rate at its discretion.
Payment by Wire Transfer
For US Auctions:
Zachys Wine Auctions Inc.
Bank: Hapoalim B.M. New York
1120 Avenue of Americas
New York, NY 10036
Account #: 01091461-01
ABA #: 026008866
SWIFT: POALUS33
For Hong Kong Auctions:
Beneficiary Bank: HSBC Hong Kong
Beneficiary Bank address: 1 Queens Road Central, Hong Kong
Beneficiary Bank SWIFT: HSBCHKHHHKH
Beneficiary Bank Code: 004 (Optional)
Account Name: Zachys Asia Limited
Account #: 808481808838
When paying by wire transfer, please be sure to reference the invoice number in the details field.
All bids placed by Buyers are deemed to be submitted exclusive of any sales tax, which shall (if required) be payable by the Buyer.
New York Live Auctions (“New York Live Auctions”) and New York Internet Auctions (“New York Internet Auctions”).
Delaware Live Auctions (“Delaware Live Auctions”) and Delaware Internet Auctions (“Delaware Internet Auctions”).
Many of the wines and goods offered for sale are imported from outside the United States and may be subject to tariffs, duties, taxes, or other governmental charges imposed or adjusted after the time of purchase. Buyers should be aware that these costs are outside the control of the seller and may change between the date of sale and the date of delivery. In the event that tariffs or other charges are increased, newly imposed, or become applicable after the purchase is completed, the buyer agrees to bear full responsibility for any additional fees, taxes, or charges that arise as a result. We understand that these changes can be unexpected, and we will make every effort to communicate any known updates as soon as possible. However, it remains the buyer’s obligation to ensure payment of any applicable tariffs or import-related charges before items will be released for delivery.
Title passes to the Buyer in the state or region where the auction occurs. Wines must be collected within 14 calendar days or they will be transferred to Zachys storage at the Buyer's expense. Zachys can assist with packing, shipping, and insurance, but assumes no responsibility for carrier-related delays or damage.
All wines are sold 'as-is.' Descriptions are based on opinion and do not constitute warranties. Buyers are encouraged to inspect lots prior to purchase. Zachys is not liable for errors, breakage, or changes during transit not covered by the protection fee.
It is the Buyer's responsibility to either pick up purchases or make shipping arrangements within 14 calendar days of the auction. Zachys will not automatically arrange for the delivery of products purchased. Unless otherwise arranged in writing, Zachys will deliver all purchased alcoholic beverages to an independent storage facility in New York for the account of the Buyer (see Title, Risk and Delivery).
After payment has been received, Zachys can assist in arranging packing, transit insurance, and shipping at the Buyer’s expense, direction, and request. Please submit the Collection & Delivery Form to expedite payment and delivery for auction purchases.
Alcoholic beverages sold at auction may be subject to laws governing export from the jurisdiction where the auction was held, as well as import restrictions in foreign countries. Buyers should always check whether an export license is required before exporting alcoholic beverages. It is the Buyer’s sole responsibility to obtain any necessary export or import licenses. A delay in obtaining licenses shall neither justify the cancellation of any sale nor excuse delay in providing full payment for the lot. Local laws may prohibit the importation of certain products and/or may restrict the resale of some items in the country of import; no such restriction shall justify the cancellation of any sale or delay in making full payment for the lot.
Potential Buyers should be aware that various jurisdictions impose limitations on the quantity of alcoholic beverages that can be purchased and transported into their jurisdiction without requiring the purchaser, consignor, or shipper to possess specific licenses or permits. Zachys shall not assume any obligation or bear any responsibility for applying for or obtaining the requisite permits or licenses if the quantity purchased exceeds these limitations. Therefore, all prospective Buyers are strongly advised to investigate such limitations and determine how alcoholic beverages may be brought into the jurisdiction in compliance with all local requirements.
Prospective Buyers should note that certain restrictions apply to the shipment of wines and spirits. Many countries and states impose limitations on the quantity, as well as high duties and/or taxes, and prospective Buyers should be aware of export and import restrictions.
To obtain results for the auction, please refer to https://auction.zachys.com.
The terms and conditions were originally drafted in English. In the event that any translation of the terms and conditions is prepared, the provisions of the English version shall prevail.
Any disputes shall be resolved under the laws of the jurisdiction where the auction was held—New York, Delaware or Hong Kong. Zachys’ decision is final in case of bidding disputes.
Zachys, its affiliates, the auctioneer, and the seller — together with their respective officers, directors, shareholders, members, employees, attorneys, representatives, agents, and assigns — make no oral or written representations, warranties, or guarantees of any kind. This includes, without limitation, any representation, warranty, or guarantee concerning the merchantability, fitness for a particular purpose, accuracy, or correctness of any catalogue description or other information regarding the origin, physical condition, size, quality, rarity, authenticity, attribution, value, estimated value, significance, medium, provenance, exhibition history, potability, literature, historical relevance, or bibliographic references of any property.
Each Bidder (including the Buyer), the Seller, and ZACHYS irrevocably and unconditionally waive, to the fullest extent permitted by law, any right to a trial by jury in any legal action, proceeding, cause of action, or counterclaim arising out of, relating to, or concerning these Conditions of Sale — including the rights and obligations of the parties under these terms and the conduct of the auction.
Each Bidder (including the Buyer), the Seller, and ZACHYS further agree that any legal action or proceeding will be conducted solely on an individual basis and not as part of a class, collective, consolidated, representative, or private attorney general action. This includes any named or unnamed member of a class action. The only exception is if all parties expressly agree to do so in writing after the legal action is initiated. This class action waiver does not apply if prohibited by applicable law.
ZACHYS, its affiliates, auctioneers, and Sellers — along with their respective officers, directors, shareholders, members, employees, attorneys, representatives, agents, and assigns — shall not be liable to any Bidder (including the Buyer) for any special, consequential, incidental, indirect, exemplary, or punitive damages of any kind. This includes, but is not limited to, damages for lost revenue, income, or profits; loss of use or data; business interruption; user errors (such as forgotten passwords, incorrectly constructed transactions, or mistyped addresses); server failure or data loss; corrupted wallet files; unauthorized access to applications; or any unauthorized third-party activities. This also includes any outages, viruses, hacking, or other attacks — regardless of the theory of liability, whether based on contract, tort, or any other legal or equitable theory, even if a party has been advised of the possibility of such damages and regardless of whether the damages were foreseeable.
Each Bidder (including the Buyer) expressly waives any right to recover any such damages to the fullest extent permitted by law.
To the fullest extent permitted by law, the total liability of ZACHYS, its affiliates, auctioneers, and Sellers — including their respective officers, directors, shareholders, members, employees, attorneys, representatives, agents, and assigns — shall not exceed the amount paid by the Buyer for any property that is subject to return under these Conditions of Sale. Except as expressly set forth herein, neither ZACHYS, its affiliates, auctioneers, nor Seller — including their respective officers, directors, shareholders, members, employees, attorneys, representatives, agents, and assigns — shall have any other liability of any kind, whether in law or equity, under this Agreement or in connection with the offer, purchase, or sale of any property.
By placing a bid with Zachys, the Buyer acknowledges that they have read, understood, and agreed to these Terms & Conditions. For additional information, please contact our Client Services team at auction@zachys.com or +1-914-448-3026.