TERMS & CONDITIONS
IMPORTANT INFORMATION FOR BIDDERS AND BUYERS
CONDITION OF BUSINESS
All lots are offered subject to Art Europe Auctions B.V. Conditions of Business which are printed in the catalogue. The conditions in the catalogue are leading.
BUYERS PREMIUM & VAT A buyer's premium of 24,2% is applicable to all lots in this sale. The buyer's premium is including VAT (currently 21%). Lots are normally offered for sale under the auctioneer's Margin Scheme.
This means that VAT is charged only over the buyer's premium. Lots which are marked with a VAT Symbol (V) indicate that VAT is payable by the purchaser at the standard rate (21%) on the hammer price as well as being an element in the buyer's premium. Lots which are marked with a double VAT symbol (VV) indicate that the lot has been imported from outside the European Union. VAT charges on these lots always include the hammer price as well as the buyer's premium.
ARTIST'S RESALE RIGHT
Purchase of lots marked with the following symbol R will be subject to payment of the Artist's Resale Right, at a percentage of the hammer price calculated as follows: Royalty 4.00% up to 50.000 3.00% between 50.000 and 200.000 1.00% between 200.000 and 350.000 0.50% between 350.000 and 500.000 0.25% in excess of 500.000. The Buyer agrees to pay AEA an amount equal to the resale royalty. Resale royalty applies where the price realized (Hammer and Premium) is 3,000 Euro or more.
BIDDING IN PERSON
To bid with us you must register to obtain a bid- ding number. Before the auction, ll in the form at the registration desk, provide proof of identity and you will be given a paddle number. All lots sold will be invoiced to the name and address in which the paddle has been registered and may not be transferred to other names and addresses. If you instruct an agent to bid on your behalf you will need to provide a letter of authority and they will also need to provide proof of identity. AEA reserves the right to refuse bids.
ABSENTEE BIDS
Art Europe Auctions will be pleased to execute bids on behalf of those clients unable to attend the sale in person. All bids must be submitted in writing in good time and lots will always be purchased as inexpensively as possible (de- pending on any other bids received, reserves & competition in the salesroom). It will be possible to arrange auction room telephone bidding, but subject always to availability. These services are offered free of charge and are subject to our Conditions of Business.
PAYMENT
Payment is due in Euro's immediately after the sale and before purchases can be released. Payments in person can be made in the saleroom on the day of the auction in cash, debit Card or Credit Card.
Credit Card
We are pleased to accept all major credit cards. A surcharge will be made to cover the charge made to us by the creditcard company or bank.
Debit Card
We accept Debit Card payments. Their is no charge for payment by Debit Card.
Cash
Cash payments will not be accepted above 10.000 Euro's. Shortly after your successful bid in the auction you will receive an email with: The Invoice (hammerprice, buyer's premium and applicable taxes); Payment instructions, property collection notice and shipping information.
Electronic transfers may be sent directly to our bank:
ABN AMRO Bank
Leidseplein 29 Amsterdam
The Netherlands
IBAN: NL31ABNA0453211550?BIC
Number: ABNANL2A
Account name: Stichting Derdengelden Art Europe Auctions
CONDITIONS OF BUSINESS FOR BUYERS
1. INTRODUCTION?
Art Europe Auctions B.V. (AEA or the Company) carries on business, including the conduct of Auctions, on the following general conditions.
2. DEFINITIONS`
?* Bidder is any person making, attempting or considering making a bid
* Buyer is the person who makes the highest bid or offer accepted by the auctioneer, including a Buyer's principal when bidding as agent
* Seller is the person offering a lot for sale, including their agent, or executors * AEA means Art Europe Auctions B.V. registered KNSM Laan 121, 1019 LB Amsterdam, The Netherlands
* Buyer's Expenses are any costs or expenses due to AEA from the Buyer
* Buyer's Premium is the commission payable by the Buyer on the Hammer Price at the rate set out in the important information for bidders and buyers
* Hammer Price is the highest bid for the Property accepted by the auctioneer at the auction or the post auction sale price
* Purchase Price is the Hammer Price plus applicable Buyer's Premium and Buyer's Expenses.
* Reserve Price is the minimum Hammer Price at which the Seller has agreed to sell a lot. The Buyer's Premium, Buyer's Expenses and Hammer Price are subject to VAT where applicable.
3. EXAMINATION OF LOTS?
AEA's knowledge of lots is partly dependent on information provided by the Seller and AEA is unable to exercise exhaustive due diligence on each lot. Each lot is available for examination before sale. Bidders are responsible for carrying out examinations and research before sale to satisfy themselves over the condition of lots and accuracy of descriptions. All oral and/or written information provided to Bidders relating to lots, including descriptions in the catalogue, condition reports or elsewhere are statements of AEA's opinion and not representations of fact. Estimates may not be relied on as a prediction of the selling price or value of the lot and may be revised from time to time at AEA's absolute discretion.
4. EXCLUSIONS AND LIMITATIONS OF LIABILITY TO BUYERS?AEA shall refund the Purchase Price to the Buyer in circumstances where it deems that the lot is a Counterfeit, subject to the terms of AEA's Authenticity Guarantee. Subject to this neither AEA nor the Seller:
*is liable for any errors or omissions in any oral or written information provided to Bidders by AEA, whether negligent or otherwise
** gives any guarantee or warranty to Bidders and any implied warranties and conditions are excluded other than the express warranties given by the Seller to the Buyer under the
Conditions of Business for Sellers
*** accepts responsibility to Bidders for acts or omissions by AEA in connection with the conduct of auctions or for any matter relating to the sale of any lot. Without prejudice to the above Condition any claim against AEA and/or the Seller by a Bidder is limited to the Purchase Price for the relevant lot. Neither AEA nor the Seller shall be liable for any indirect or consequential losses.
5. BIDDING AT AUCTION?
AEA has absolute discretion to refuse admission to the auction. Before sale, Bidders must complete a Registration Form and supply such information and references as AEA requires. Bidders are personally liable for their bid and are jointly and severally liable with their principal, if bidding as agent (in which case AEA's prior and express consent must be obtained). AEA advises Bidders to attend the auction, but AEA will endeavor to execute absentee written bids provided that they are, in AEA's opinion, received in sufficient time and eligible form. When available, written and telephone bidding is offered as a free service at the Bidder's risk and subject to AEA's other commitments; AEA is therefore not liable for failure to execute such bids. Telephone bidding may be recorded. When available online bidding is offered as a free service via our website arteuropeauctions.com or via other online platforms such as the www.thesaleroom.com or others. For further information we refer to the additional terms and conditions for online bidding published on our website.
6. IMPORT, EXPORT AND COPYRIGHT RESTRICTIONS?a. AEA and the Seller make no representations or warranties as to whether any lot is subject to import, export or copyright restrictions. It is the Buyer's sole responsibility to obtain any copyright clearance or any necessary import, export or other license required by law, including licenses required under the Convention on the International Trade in Endangered Species (CITES).
7. CONDUCT OF THE AUCTION?
a. The auctioneer has direction to refuse bids, withdraw re-offer lots for sale (including after the fall of the hammer) if he believes that there may be an error or dispute, and may also take such other action as he reasonably deems necessary.
b. The auctioneer will commence and advance the bidding in such increments as he considers appropriate and is entitled to place bids on the Seller's behalf up to the Reserve Price for the lot, where applicable.?c. Subject to Condition, the contract between the Buyer and the Seller is concluded on the striking of the auctioneer hammer.?
d. Any post-auction sale of lots shall incorporate these Conditions of Business.?
8. Payment and Collection?a. Unless otherwise agreed in advance, payment of the Purchase Price is due in euros immediately after the auction (the "Payment Date")?b. Title in a lot will not pass to the Buyer until AEA has received the Purchase Price in cleared funds. AEA will generally not release a lot to a Buyer before payment. Earlier release shall not affect passing of title or the Buyer's obligation to pay the Purchase Price as above.?c. The refusal of any license or permit required by law, as outlined in Condition 6, shall not affect the Buyer's obligation to pay for the lot, as per Condition 8a.?d. On receipt of cleared funds, the buyer may collect lots from the saleroom during the auction and immediately after its completion. (see Important Notice for Bidders and Buyers). Thereafter all purchased lots will be transferred to AEA's appointed shippers and independent storers, details of which are printed in the auction catalogue or available on request. Purchased lots in the possession of the appointed company will be subject to their own Conditions of Business and insurance arrangements.
e. All packing and handling of lots is at the Buyer's risk. AEA will not be liable for any acts or omissions of third party shippers, storers or packers.
9. REMEDIES FOR NON PAYMENT?
Without prejudice to any rights that the Seller may have, if the Buyer without prior agreement fails to make payment for the lot within 5 working days of the auction, AEA may in its sole discretion exercise one or more of the following remedies:?a. store the lot at its premises or elsewhere at the Buyer's sole risk and expense;?b. cancel the sale of the lot?c. set off any amounts owed to the Buyer by AEA against any amounts owed to AEA by the Buyer for the lot;?d. reject future bids from the Buyer;?e. charge interest at a rate equal to the legal interest rate from the moment he is in default.?f. re-sell the lot by auction or privately, with estimates and reserves at AEA's discretion, in which case the Buyer will be liable for any shortfall between the original Purchase Price and the amount achieved on re-sale, including all costs incurred in such re-sale, including any shipping, storing, packing, insurance and handling fees owed to third parties;?g. commence legal proceedings to recover the Purchases Price for the lot, plus interest and legal costs proceedings.
10. DATA PROTECTION?AEA will use information supplied by Bidders or otherwise obtained lawfully by AEA for the provision of auction related services, client administration, marketing and as otherwise required by law.
11. MISCELLANEOUS
?a. All images of lots, catalogue descriptions and all other materials produced by AEA are the copyright of AEA.?
b. All notifications and communications to AEA shall be made in writing.?c. These Conditions of Business shall be interpret- ed in accordance with Dutch Law.
ART EUROPE AUCTIONS B.V. AUTHENTICITY GUARANTEE?
If AEA sells an item of Property which is later shown to be a "Counterfeit" subject to the terms below AEA will rescind the sale and refund the Buyer the total amount paid by the Buyer to AEA for that Property, up to a maximum of the Purchase Price. The Guarantee lasts for one year after the date of the relevant auction, is for the bene t of the Buyer only and is non-transferable. "Counterfeit" means an item of Property that in AEA reasonable opinion is an imitation created with intent to deceive. Property shall not be considered Counterfeit solely because of any damage and/or restoration and/ or modi cation work. To claim under this Guarantee, the Buyer must notify AEA in writing within one month of receiving any information that causes the Buyer to question the authenticity or attribution of the Property, specifying the lot number, date of the auction at which it was purchased and the reasons why it is believed to be Counterfeit; and return the Property to AEA in the same condition as at the date of sale and be able to transfer good title in the Property, free from any third party claims arising after the date of the sale. AEA may require the Buyer to obtain at the Buyer's cost the reports of two independent and recognized experts in the relevant field.
