Conditions of Sale
AUCTION TERMS AND CONDITIONS
1. Auction offer
The subjects of the auction are lots placed by the consignors for sale or lots owned by the Auction House. According to statements of consignors lots have clear title, in particular they have right to dispose them, lots are not subject to any judicial or administrative proceedings, are free from any encumbrances, lien or any third party claims. The Auction House provides fair appraisal and catalog description of lots designated to sell and covers insurance costs. The Auction is conducted in accordance with the Polish law by a person authorized by the Auction House called "Auctioneer". The Auctioneer is entitled at sole discretion to separate or merge lots and even withdraw lots from bidding for whatever reason. Descriptions of lots contained in the auction catalogue can be supplemented or amended by the Auctioneer or a person authorized by him before the auction. The Auction House ensures that catalogue descriptions of lots put up for auction were made in good faith by experienced employees of the Auction House or cooperating experts.
2. Personal participation in the auction
Before the auction participant shall fill registration form. At the registration identity documents (ID, passport, driving license) may be requested. Each participant shall obtain bid number which authorizes to participate in auction. The numbers should be returned immediately after the auction. Successful bidders should take receipt of transaction.
3. Bidding on behalf of clients
The Auction House may represent client on the basis of "bid commission." The form of the commission is available at the end of the catalogue and the Auction House premise and website. In case of commission bid with limit the Auction House shall take best endeavors to make sure lots to be purchased as cheaply as is allowed by other bids, but not cheaper than the reserve price. If the limit set by the client do not exceeds reserve price the transaction shall be conditional. The form should be send by fax, post, e-mail or delivered personally to the Auction House premise at least two hours before auctions commencement. Along with the form clients should deliver a scan of identification document which is necessary to execute bid commission. Personal data of client remain confidential and will not disclosed to anyone. Unless client expressly state otherwise the bill for winning transaction will be sent to the address provided by the client in the form.
4. Telephone bidding
Prospective buyers who wish to participate in auction by telephone should send Bidding Form at least one day before the auction. Employee of the Auction House will connect with the client before bidding of selected lots. The Auction House shall be not responsible for lost opportunity to participate in the auction due to connection problems with phone number provided by the client. The Auction House will not charge clients for telephone bidding. The Auction House reserve the right to register and archive telephone call with clients.
5. Bidding
Bid increments for each portion of prices are provided below at the end of the Terms and Conditions. Bidding is regulated at the sole discretion of the Auctioneer. Bidding is completed upon fall of the hammer and the highest bidder acceptable to the Auctioneer shall be the buyer In the event of any dispute during the auction, the Auctioneer shall resolve the dispute or may put up the lot again for bidding. The Auction House reserves the right to conduct the auction only as to lots selected by prospective buyers for bidding. In such case bidder should notify the Auctioneer of numbers of selected lots. The auction is conducted in Polish language, but at the request of a prospective buyers it may be conducted simultaneously in English and German. Such requests should be submitted at least one hour before the auction together with information about lots concerned. Bidding pace amounts to 60 - 100 lots per hour.
6. Opening Price
The prices specified in the catalogue under description of the lot constitutes an opening price. The auction may only go up by one increment which means bidding may end up at opening price or higher.
7. Estimated prices
These estimated prices specified in the catalogue give prospective bidders an idea of what lots are worth. Any transaction concluded for low estimate price and higher is final and biding. Transactions below low estimate price may be conditional transaction (see point 9 below)
8. Reserve price
For each lot the Auction House may place a reserve price. Amount of reserve price is confidential. Reserve prices resides between opening price and low estimate price. If the amount bided is lower than reserve price the Auctioneer shall announce that the transaction is conditional.
9. Conditional (reserve) transactions
The Auction House allows conditional transaction at the auction. The conditional transaction comes into effect upon acceptance of the hammer price by the owner of the lot. The conditional transaction shall be deemed as legally binding offer for purchase the lot at the hammer price. The Auction House undertakes to negotiate with the owner a price reduction to the hammer price. If the negotiations conducted with the owner within five working days of the auction is successful the lot shall be considered unsold. The Auction House reserves the right to accept offers submitted after the auction with price equal to the reserve price for bided lot. In such case the Auction House shall inform the bidder about counter-offer. The bidder may increase his offer up to reserve price and his offer shall take precedence. Otherwise conditional transaction have no legal effect and the Auction House is entitled to sell the lot to counter-bidder at the reserve price.
10. Buyer's premium and VAT
The hammer price shall be increased by buyer's premium paid on top by the internet buyers at 21% range to 100.000 PLN, 18% from 100.000 PLN of the hammer price. The hammer price increased by buyer's premium includes Value Added Tax (VAT). If a lot is unsold at auction the buyer's premium applies also to after-auction sale. The Auction House issues "VAT-margin invoices".
11. Payments
All lots must be paid for within ten days of the sale at auction. The Auction House shall be entitled to charge statutory interests for delayed payments.
The Auction House accepts the following forms of payments:
- In Cash:
in PLN - the contract's settlement currency is Polish zloty.
in other currencies - at buyer's request foreign currencies may be accepted by arrangement. The Auction House accepts payments in Euros, Dollars or Pounds Sterling. The currency conversion shall be made at daily currency purchase rate at the Bank PKO BP decreased by 3%.
- By Credit Cards:
The Auction House accepts the following credit cards:
MasterCard, Visa, Maestro, VISA electron
- By bank wire transfers to the following bank account:
DESA Unicum Sp. z o.o.
Warsaw (postal code: 00-554), Marszalkowska Street 34/50,
Bank PKO BP SA
PL 88 1020 1042 0000 8102 0271 6405
SWIFT BPKOPLPW
12. Withdrawal from the contract
In the event of delay in payment by the buyer the Auction House may withdraw from the contract with the buyer upon expiry of the additional period of time for payment specified by the Auction House.
13. Transfer of ownership
The property of lots sold at auction passes on to the buyer upon payment of the full price increased by buyer's premium.
14. Receipt of lots
No lot can be taken away until the full purchase price has been paid. Receipt of lots should take place within 10 days of the date of auction. In other cases storage and supply of lots are carried out at the buyer's cost and risk.
15. Complaints
Any complaints shall be resolved in accordance with Polish law. Complaint for lack of conformity with the contract may be filed within one year of release of the lot. The Auction House is not liable for hidden physical defects and legal defects of lots purchased by consumers.
16. Governing Law
Auction House reminds that in accordance with:
* Act on antiques protection of 23 July 2003 (Journal of Laws No. 162 item. 1568) - the export of certain historical lots out of the territory of Poland requires approval of relevant authorities.
* Act on museums of 21 November 1996 (Journal of Laws of 1997 No. 5, item. 24, with amendments) - registered museums have pre-emption right to buy antics directly at auction for the hammer price increased by buyer's premium.
* Act on money laundering and financing of terrorism of 16 November 2000 (Journal of Law of 2000. No. 116, item. 1216, with amendments) - Auction House is required to collect personal data from buyers of lots purchased at prices exceeding 15 thousand Euros. The customer will be requested for personal data needed to report transactions to the General Inspector of Financial Information. Customer's personal information remains confidential.
Payment
PART I - CONDITIONS MAINLY AFFECTING BIDDERS AND BUYERS
1. DEFINITIONS
In these Conditions :
a. "auctioneer" means Gerrards or its authorised auctioneer, as appropriate;
b. "deliberate forgery" means an imitation made with the intention of deceiving as to authorship, origin, date, age, period, culture or source but which is unequivocally described in the catalogue as being the work of a particular creator and which at the date of the sale had a value materially less than it would have had if it had been in accordance with the description;
c. "hammer price"means the level of bidding reached (at or above any reserve) when the auctioneer brings down the hammer;
d. "terms of consignment"means the stipulated terms and rates of commission on which Gerrards accepts instructions from sellers or their agents
e. "total amount due"means the hammer price in respect of the lot sold together with any premium, Value Added Tax chargeable and any additional charges payable by a defaulting purchaser under these Conditions;
f. "sale proceeds " means the net amount due to the seller, being the hammer price of the lot sold less commission at the stated rate, Value Added Tax chargeable and any other amounts due to Gerrards by the seller in whatever capacity and however arising;
g. "stated rate"means Gerrards' published rates of commission for the time being and Value Added Tax thereon.
2. THE BUYER
a. Bidders are required to register their particulars and satisfy Gerrards' security arrangements before entering the auction room to view or bid. The highest such bidder shall be the buyer at the hammer price and any dispute about a bid shall be settled at the auctioneer's absolute discretion. Bidders shall be deemed to act as principals unless there is in force a written acknowledgment by Gerrards that a bidder is acting as an agent for a named principal. Once made, no bid may be withdrawn.
b. The right of Gerrards to bid on behalf of the seller is expressly reserved.
3. MINIMUM INCREMENT
The auctioneer shall have the right to refuse any bid which does not exceed the previous bid by at least 10% or by such greater proportion as the auctioneer shall in his absolute discretion direct.
4. THE PURCHASE PRICE
The buyer shall pay the hammer price together with a premium thereon of 18.00% inclusive of VAT (or such other amount as shall be published by Gerrards), the said premium not being negotiable and payable by ALL buyers. The seller authorises Gerrards to retain beneficially the premium payable by buyers.
5. VALUE ADDED TAX
Value Added Tax on the hammer price is imposed on all items affixed with an asterisk thus - *. Value Added Tax is charged at the rate prevailing by law at the date of sale.
6. PAYMENT
a. Immediately a lot is sold buyers shall:
(1) give to Gerrards their names and addresses and, if requested proof of identity, and
(2) pay to Gerrards the total amount due.
b. Gerrards may, at its absolute discretion, agree credit terms with the buyer before an auction under which the buyer will be entitled to take possession of lots up to an agreed value in advance of payment by a stipulated future date of the total amount due. Cheques shall not be acceptable by Gerrards (unless Gerrards in its absolute discretion permits payment by such method) nor are third party references or credit facilities with other auction houses. If a cheque is tendered Gerrards reserves the right to instruct its bank to check the buyer's status and account balance before exercising any discretion. Any credit arrangement must be settled at least 4 days before the relevant sale. Any permitted payment by credit card shall carry an extra charge to the buyer of such percentage of the total amount due as is displayed on the premises.
c. Any payments by a buyer to Gerrards may be applied by Gerrards towards any sums owing from that buyer to Gerrards on any account whatever without regard to any directions of the buyer or his agent, whether express or implied.
7. TITLE AND COLLECTION OF PURCHASES
a. The ownership of any lots purchased shall not pass to the relevant buyer until they have made payment in full to Gerrards of the total amount due.
b. Buyers shall at their own risk and expense take away any lots that they have purchased and (subject to 6b) paid for not later than 2 working days following the day of the auction after which they shall be responsible for any removal, storage and insurance charges.
c. No purchase can be claimed or removed until it has been paid for (or the provisions of clause 6b satisfied).
8. REMEDIES FOR NON-PAYMENT OR FAILURE TO COLLECT PURCHASES
If any lot is not paid for in full and taken away in accordance with these Conditions, or if there is any other breach of these Conditions, Gerrards as agent for the seller shall at its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise all or any of the following rights and remedies:
a. to proceed against the buyer for damages for breach of contract;
b. to rescind the sale of that lot and/or any other lots sold by Gerrards to the defaulting buyer;
c. to re sell the lot (by auction or private treaty) in which case the defaulting buyer shall be responsible for any resulting deficiency in the total amount due (after crediting any part payment and adding any resale costs). Any surplus so arising shall belong to the seller;
d. to remove, store and insure the lot at the expense of the defaulting buyer and, in the case of storage, either at Gerrards' premises or elsewhere;
e. to charge interest at a rate not exceeding 1.5% per month on the total amount due to the extent it remains unpaid for more than 2 working days after the sale;
f. to retain that or any other lot sold to the defaulting buyer until that buyer pays the total amount due;
g. to reject or ignore bids from the defaulting buyer at future auctions or to impose conditions before any such bids shall be accepted;
h. to apply any proceeds of sale of other lots due or in future becoming due to the defaulting buyer towards the settlement of the total amount due and to exercise a lien on any of the buyer's property in Gerrards' possession for any purpose.
9. THIRD PARTY LIABILITY
All members of the public on the Auctioneer's premises are there at their own risk and must note the lay-out of the accommodation and security arrangements. Accordingly Gerrards shall incur no liability for death or personal injury (except as required by law) or for the safety of the property of persons visiting prior to or at a sale.
10. COMMISSION BIDS
Whilst prospective buyers are strongly advised to attend the auction and are always responsible for any decision to bid for a particular lot and shall be assumed to have carefully inspected and satisfied themselves as to its condition, Gerrards will if so instructed clearly and in writing execute bids on their behalf . Neither Gerrards nor its employees or agents shall be responsible for any neglect or default in doing or failing to do so. Where two or more commission bids at the same level are recorded Gerrards reserves the right in its absolute discretion to prefer the first bid so made.
PART II - CONDITIONS MAINLY AFFECTING SELLERS
11. WARRANTY OF TITLE AND AVAILABILITY
The seller warrants to Gerrards and the buyer that the seller is the true owner of the property consigned or is properly authorised by the true owner to consign it for sale and is able to transfer good and marketable title to the property free from any third party claims.
12. RESERVES
a. The seller shall be ent
itled to place prior to the auction a reserve on any lot consigned, being the minimum hammer price at which that lot may be sold. Reserves must be reasonable and Gerrards may decline to offer goods which in Gerrards' opinion would be subject to an unreasonably high reserve (in which case goods carry the storage and insurance charges stipulated in the terms of consignment).
b. A reserve once set cannot be changed except with Gerrards' consent.
c. Where a reserve has been placed only Gerrards may bid on behalf of the seller.
13. AUTHORITY TO DEDUCT COMMISSION AND EXPENSES AND RETAIN PREMIUM
a. The seller authorises Gerrards to deduct commission at the stated rate and all expenses incurred for the buyer's account from the hammer price and acknowledges Gerrards right to retain beneficially the premium paid by the buyer in accordance with these Conditions.
b. The seller authorises Gerrards in their discretion to negotiate a sale by private treaty in the case of lots unsold at auction, in which case the same charges will be payable as if such lots had been sold at auction.
14. COLLECTIONS
Gerrards do not themselves undertake the collection of goods but may, as the seller's agent, instruct a contractor. Gerrards accepts no liability for the actions of such contractor who contracts with the seller direct.
15. WAREHOUSING
Gerrards disclaims all liability for goods delivered to their saleroom without sufficient sale instructions, and reserves the right to make a minimum warehousing charge of £1.00 per lot per day. Unsold lots are subject to the same charges if the seller does not remove them within a reasonable time of notification. If not removed within three weeks Gerrards reserves the right to sell them and defray charges from any net proceeds of sale or at the seller's expense to consign them to the local authority for disposal.
16. INSURANCE
Gerrards holds all goods on their premises and in their custody covered against the risks of fire, burglary and water damage on the scale of charges notified in the terms of consignment and payable by the seller up to the date of any sale and (in Gerrards' discretion) the buyer thereafter until collection.
17. AGENCY
Gerrards acts as agent only and disclaims any liability for default by the buyer or for paying out the seller before receiving payment by the buyer.
PART III GENERAL CONDITIONS.
18. Gerrards act as agent for the seller and as such is not responsible for default by the seller or the buyer. The seller acknowledges that lots are sold subject to the stipulations of these Conditions in their entirety and on the terms of consignment as notified to consignors at the time of the entry of the lot.
19. Subject to the next following Condition concerning deliberate forgeries, any representation or statement by Gerrards in any catalogue as to authorship, genuineness, origin, date, age, provenance, condition or estimated selling price is a statement of opinion only. Prospective buyers are given ample opportunities to view and inspect before any sale and prospective buyers must satisfy themselves as to all such matters. Neither Gerrards or its employees or agents nor the seller accept liability for the correctness of such opinions and all conditions and warranties, express, implied or statutory are hereby excluded.
20. Any lot which proves to be a deliberate forgery (as defined) may be returned to Gerrards by the buyer within 21 days of the auction provided it is in the same condition as when bought, and is accompanied by particulars identifying it from the relevant catalogue description and a written statement of defects. If Gerrards is satisfied from the evidence presented that the lot is a deliberate forgery Gerrards shall refund the money paid by the buyer for the lot (but not the amount of any consequential loss, damages, expenses or interest) provided that (1) if the catalogue description reflected the accepted view of scholars and experts as at the date of sale or (2) the buyer personally is not able to transfer a good and marketable title to Gerrards, the buyer shall have no rights under this condition.
21. Gerrards shall have the right, at its discretion, to refuse admission to its premises or attendance at its auctions by any person.
22. Any indemnity under these Conditions shall extend to all actions, costs, expenses, claims and demands whatsoever suffered or incurred by the person entitled to the benefit of it and Gerrards declares itself to be a trustee of the benefit of every such indemnity so far as it is expressed to be for the benefit of its employees and agents.
23. Any notice to any buyer, seller, bidder or viewer may be given by first class mail or Swiftmail in which case it shall be deemed to have been received by the addressee 48 hours after posting.
24. Special terms may be used in catalogue descriptions in which case they must be interpreted in accordance with any glossary appearing at the commencement of the catalogue.
25. Any indulgence extended to buyers or sellers by Gerrards notwithstanding the strict terms of these Conditions or the terms of consignment shall affect the position at the relevant time only and in respect of that particular concession only; in all other respects these Conditions shall be construed as having full force and effect.
26. English law applies to the interpretation of these Conditions.
SHIPPING
Gerrards are able to provide a Post and Packing service at reasonable cost. All items are sent insured, either by Royal Mail Special Delivery (for UK Clients) or by Royal Mail Signed for service for overseas Clients.
