Conditions of Business for Buyers

1. Bidder Registration and Identity Verification

Prospective buyers must register in advance for each scheduled auction sale. Bidding approval requires submission of verified contact information and issuance of a unique paddle number. In this demo, signed-in accounts receive automatic simulation paddle approval.

Tigaketuk reserves the right to reject any registration or request additional provenance or solvency references prior to granting live bidding access.

2. Bids are Binding Contracts

Every bid placed—whether entered manually as a single increment or executed automatically via proxy ceiling—constitutes a legally binding and irrevocable offer to purchase the lot at that hammer price plus the applicable Buyer’s Premium.

Once a bid has been recorded by the auction engine, it cannot be withdrawn, retracted, or cancelled by the bidder.

3. Bid Increment Table

Bidding advances strictly in accordance with Tigaketuk's programmatic increment scale. The next valid bid must equal at least the current top bid plus the increment corresponding to that price tier:

Note: Proxy bidding automatically uses these increments up to your declared ceiling amount. Ties are awarded to the earliest submitted proxy.

4. Buyer’s Premium

In addition to the final hammer price, the successful buyer agrees to pay Tigaketuk a Buyer’s Premium calculated as follows:

• 25% of the hammer price on amounts up to and including Rp 4.000.000.000.
• 20% on any portion of the hammer price exceeding Rp 4.000.000.000.

5. Confidential Reserves and Starting Bids

Unless explicitly advertised as "No Reserve", lots are offered subject to a confidential minimum reserve price agreed upon between Tigaketuk and the consignor.

The reserve price is never disclosed to prospective bidders. If bidding closes below the reserve, the lot is declared unsold and returned to the consignor.

6. Extended Bidding and Soft-Close Mechanism

To eliminate sniping and ensure fair price discovery for all collectors, Tigaketuk implements an automated extended bidding rule:

If any bid is accepted within the final 2 minutes before a lot's scheduled close, the closing countdown for that specific lot automatically extends by 2 minutes from the time the bid was placed. Bidding continues until 2 full minutes elapse with no further activity.

Consecutive lots in timed sales close with a staggered interval of 2 minutes between successive lots.

7. Authenticity Guarantee and Hologram Verification

Every work offered at Tigaketuk undergoes rigorous inspection by our specialist department. Upon approval, each piece is affixed with a serialized tamper-evident hologram seal registered to a digital Certificate of Authenticity (CoA).

Anyone may verify physical seal validity, condition reports, and cryptographic SHA-256 ledger records on our Authentication Portal or by scanning the QR code on the physical seal.

8. Payment and Settlement

Winning bidders receive an electronic invoice immediately following the close of the sale. Settlement must be completed in Indonesian Rupiah (IDR) within seven (7) business days. Title to the artwork transfers only upon receipt of cleared funds in full.

9. Shipping, Insurance, and Collection

Buyers are responsible for all packing, fine art transport, customs duties, and transit insurance charges. Tigaketuk’s logistics division coordinates museum-grade crate fabrication and white-glove delivery worldwide.