All bids placed on GooGavel are:

• Irrevocable
• Legally binding offers to purchase
• Once submitted, a bid cannot be withdrawn, modified, or cancelled.
• The highest bid at the close of an auction constitutes a binding purchase obligation.

Each auction follows predefined bid increments.

Bid increments are displayed within the auction interface

GooGavel reserves the right to adjust increments where necessary

Bids placed must meet or exceed the next valid increment to be accepted.

Each auction has a clearly defined start and end time.

Anti-Sniping Mechanism

To ensure fair competition:

If a bid is placed within the final minutes of an auction,

the auction timer will automatically extend

This process continues until no further bids are received within the extension window

This ensures that all participants have a fair opportunity to respond.

Certain lots may include a reserve price.

The reserve represents the minimum price at which the seller agrees to sell

If the highest bid does not meet the reserve, the lot will not be sold

GooGavel may also offer no-reserve auctions, where the highest bid wins regardless of price.

All successful bids are subject to a 10% buyer’s premium.

The total purchase price is calculated as:

Final Bid + Buyer’s Premium

This amount constitutes the full contractual obligation of the winning bidder.

To participate in certain auctions, bidders may be required to provide a deposit.

Deposits are typically structured as a pre-authorization (up to $10,000)

The deposit ensures the seriousness of bidders

Upon winning:

• The deposit becomes non-refundable
• It is applied toward the total purchase price
• GooGavel reserves the right to require deposits at its discretion.

Winning bidders are required to complete payment within:

48–72 hours following the close of the auction.

Accepted payment methods include:

• Bank transfer
• Other approved methods upon request
• Failure to complete payment within the specified timeframe constitutes a default.

In the event that a winning bidder fails to complete payment:

GooGavel reserves the right to:

• Retain the bidder’s deposit in full
• Suspend or permanently ban the account
• Pursue legal remedies where applicable
• Offer the lot to the next highest bidder

The next highest bidder may be given the opportunity to purchase the lot at their last bid price within a defined timeframe.

If a sale is not completed due to buyer default:

• GooGavel may re-offer the lot
• The lot may be offered privately or via auction
• The original seller will be informed and protected under agreed terms

All lots are presented based on:

Available documentation

Physical inspection (where applicable)

Seller-provided information

While GooGavel conducts a structured review process:

• All lots are sold “as is”
• Buyers are responsible for reviewing all available information before bidding

GooGavel reserves the right to:

Withdraw any lot prior to or during an auction

Postpone or cancel auctions where necessary

This may occur due to:

• Authenticity concerns
• Legal issues
• Seller-related matters

In the event of any dispute:

GooGavel reserves the right to make final determinations regarding bidding outcomes All decisions are binding within the scope of platform rules

Further legal frameworks are defined within the Terms & Conditions.

To maintain a trusted marketplace:

The following are strictly prohibited:

Bid manipulation or artificial bidding

Collusion between participants

Any activity intended to distort auction outcomes

Violations may result in:

Immediate suspension

Permanent bans

Legal action

GooGavel reserves the right to:

• Interpret and enforce these Auction Rules
• Amend rules at any time without prior notice
• Take any action necessary to protect the integrity of the platform