Auction Terms & Conditions
I.
GENERAL PROVISIONS
1. For the purposes of these Auction Rules, the auction house is Adolf Loos Apartment and Gallery s. r. o. (the "Auction House"), organizing auctions in compliance with the laws of the Czech Republic.
2. The Auction House organizes auctions in which movable assets are sold that do not originate from criminal activities and are not subject to preemptive rights of cultural institutions of the state (such as the National Gallery, the National Museum, the National Technical Museum, the Museum of Decorative Arts, the Museum of Military History, etc.), based upon an auction (consignment) agre- ement made between the Seller and the Auction House. Items which have been declared cultural relics or for which the status of cultural relics is being sought are marked with the letter "KP" in the catalogue and are subject to special rules as set out in ?NR Act No. 20/1987 Coll., on national heritage conservation, as amended.
II.
BIDDERS' CLUB
1. The Auction House conducts auctions at the request of the owners of the auctioned items, which can be attended by members of the Bidders' Club ("BC Members"). The Auction House is itself a BC Member. Private individuals or a legal entities may become a member of the Bidder's Club even on the day of the auction itself provided that they comply with the membership conditions set out in point 2.
2. The Auction House will register private individuals or legal entities who seek membership as BC Members if they show that they are older than 18 years and enjoy full capacity or, as the case may be, are a legal entity established in the Czech Republic and represented, for the purposes of BC membership, by their statutory representative. As a part of the registration procedure, the Auction House may demand presentation of a valid ID card or passport and, in the case of legal entities, a current extract from the Commercial Register.
3. The decision on whether to register a prospective member in the Bidders' Club is at the discretion of the Auction House. There is no legal claim for membership in the Bidders' Club.
4. If a BC Member violates the rules set out in this Auction Rules, the Auction House may cancel their membership. The infringing person will be notified of this decision in writing.
5. Registration in the BC implies that the BC Member gives consent to Adolf Loos Apartment and Gallery s. r. o. for the collection, storage, and processing of personal data and sensitive data within the meaning of the Data Protection Act (Act No. 101/2000 Coll., as amended).
III.
AUCTION PARTICIPANTS (BIDDERS)
1. Only BC Members may participate in the auction. Inebriated persons may not participate in the auction, and nor may persons who during the auction commit a gross breach of the principles of common decency, or persons whose legal capacity has been restricted by a court decision, or BC Members who failed to make payment of the security deposit (if required); a Successful Bidder - Buyer - who frustrated the previous auction of a given item at the same Auction House may not participate in the repeated auction of such item. Upon request by the Auction House (or by its authorized representative), auction participants must prove their identity by presenting their ID card or a valid passport or, as the case may be, prove their authority to act on behalf of the auction participant, have themselves entered in the list of auction participants, and accept their bidder's card (if any are dealt out); where a security deposit is being requested, the auction participants must moreover provide evidence that they paid the security deposit, in such manner as set out in the Auction Rules.
2. Auction participants may grant written power of attorney to have themselves represented at the auction by another BC Member; authorized clerks may also act on behalf of an auction participants. By granting such power of attorney, auction participants also authorize their authorized agent to represent them in a repeated auction (if the conditions for holding such repeated auction are met).
IV.
SELLER AND AUCTIONEER
1. The Seller is the person who proposes that an auction take place. No auction may be performed unless the Seller has entered into a written auction agreement with the Auction House. This does not apply if the Auction House itself is the Seller.
2. The Auctioneer is a natural person who is authorized to conduct the proceedings during the auction on behalf and for the account of the Auction House. The Auctioneer opens the auction, calls upon the participants to make their bids, and awards the item to the Successful Bidder.
V.
AUCTION
1. Auctions are invitation-only. Only BC Members may attend auctions, provided that they comply with the entrance fee requirement. Even if they pay the entrance fee, BC Members may not participate in the auction if they are inebriated or breach the principles of common decency (e.g. because of their dirty or otherwise indecent attire or because they behave in a manner which would clearly inconvenience the other bidders, etc.).
2. No later than one day before the auction takes place, the Auction House will exhibit the auctioned items at the venue specified in the auction catalogue, so as to allow for their inspection. This condition does not necessarily extend to heavier or bulkier items (in which case, photographs of the items may be put on display instead. Nevertheless, all interested auction participants will be allowed to view these items prior to the auction).
3. During the exhibition within the meaning of Article II.2 of these Auction Rules and during the auction itself, BC Members may not privately sell, exhibit, or exchange any exhibited or auctioned items, or capture a visual record of such items (e.g. by filming or photographing them). During the same period, all BC Members must observe all measures taken towards the protection of exhibited or auctioned items. Before the auction, clients may ask the representative of the auction house to provide professional photos in digital form.
Proceedings
4. Whoever proves their membership in the Bidders' Club is entitled to pick up a bidder's card; the Auction House may make this conditional upon payment of a collateral. The collateral will be returned upon return of the bidder's card, which must be done no later than one hour from the moment in which the auctioned item was awarded to the bidder (or in which the last auctioned item was put on the auction block). Refund of the collateral is not possible if the bidder's card is returned only later. If one holds no bidder's card, one must not bid; this does not apply to the Auction House bidding for someone else.
5. The Auction House holds the auction by means of its staff or by means of authorized agents, who must announce each item (or self-contained set of items), state its catalogue number and the minimum bid, and the stipulated minimum increment. The Auctioneer must also disclose the fact that a given item is a cultural relic.
Minimum Bid
6. As a rule, the minimum bid is 2/3 of the estimated or appraised value of the given item.The minimum bid is the amount for which the item is announced for the first time in the auction.
Increments
7. The Auctioneer sees to it that each item is being announced with its serial number. After the item has been announced, bidders may make their bids by raising their bidder's card. A bid is deemed made if a participant in the auction visibly raises the bidder's card they hold in their hand. The auction takes place if and as long as bids are made.
The increment is:
a) 1.000 CZK if the monetary auction price is not more than 50.000 CZK,
b) 5.000 CZK if the momentary auction price is at least 50.000 CZK, but not more than 100.000 CZK
c) 10.000 CZK if the momentary auction price is at least 100.000 CZK, but not more than 1.000.000 CZK
d) 50.000 CZK if the momentary auction price is at least 1.000.000 CZK but not more than 5.000.000 CZK
e) 100.000 CZK if the momentary auction price is at least 5.000.000 CZK but not more than 10.000.000 CZK
f) 250.000 CZK if the momentary auction price is at least 10.000.000 CZK and more; whereas the "momentary auction price" is the amount at which an item is called at any given moment as increasing bids are being made.
If the minimum bid was not made, the Auctioneer shall close the auction. The auction of an item ends when it is being awarded to a bidder.
8. If no minimum bid was made, or if the minimum bid was not made for the auctioned item that comes last in the order in which the items are put on the auction block, the Auctioneer shall close the auction. Otherwise, the Auctioneer closes the auction upon awarding the auctioned item that comes last to the Successful Bidder.
9. The final record of the course of the auction lists the prices attained by the highest bid within the auction for individual auctioned items; it may also show auctioned items with respect to which the ownership title did not pass to the Successful Bidder after the item was awarded to them.
10. The final record of the course of the auction lists the prices attained by the highest bid within the auction for individual auctioned items.
VI.
SUCCESSFUL BIDDER (BUYER)
1. If after two calls ("going once, going twice"), no further bids are made, the Auctioneer shall once more announce the latest bid (i. e., the price attained after the last increment - the hammer price), and upon the third call award the item to the auction participant who made the highest bid. Auction participants are bound by the bids which they make.
2. The Successful Bidder is that auction participant to whom the auctioned item was awarded; the decision on any disputes in this respect lies exclusively with the Auction House. As of the moment in which the item has been awarded, the Successful Bidder becomes obliged to pay the hammer price (i. e., the price for the auctioned item in the amount of the highest bid), increased by the auction fee incl. VAT.
3. The ownership title to the auctioned item only passes unto the Successful Bidder upon full payment of the hammer price plus auction fee incl. VAT.
4. The Successful Bidder becomes entitled to demand that the auctioned item be handed over to them after the ownership title has passed in accordance with these Auction Rules and after the total amount owed to the Auction House in connection with the auction and under these Auction Rules has been discharged. For the purposes of these Auction Rules, the "total amount owed" is understood to mean, aside from the hammer price and the auction fee incl. VAT, any applicable storage fees and other fees charged in accordance with these Auction Rules.
Terms of Payment
5. Once the auction has ended, the Successful Bidder, if they bid in person, must pay the hammer price, plus the auction fee incl. VAT, in cash or - subject to an understanding with the Auction House - by other means of payment (Bank transfer) promptly after the last item has been awarded. The Auction House may grant the Successful Bidder a supplementary period of 10 (ten) working days (unless otherwise agreed in writing during which to pay the hammer price and the auction fee incl. VAT (or, as the case may be, a portion thereof). If the hammer price plus auction fee incl. VAT is not paid within the stipulated time period then the purchase agreement is deemed rescinded, in which case the Successful Bidder must pay the auction fee incl. VAT to the Auction House, plus any and all damage and expenses associated with the frustration of the auction's purpose. Items for which the purchase price was not paid may be auctioned off again in a repeated auction (without prejudice to the owners' rights). No reductions of the hammer price or the auction fee are possible after the fact.
6. Any security deposit which the Successful Bidder paid counts against the hammer price.
7. If a BC Member fails to pay the hammer price and the auction fee incl. VAT in such manner and within such time period as set out above, the Auction House may take the BC Member to court in order to collect the payment of the auction fee incl. VAT and compensation for any and all damage and associated expenses which the Auction House and the owner of the item incurred in connection with the frustration of the purpose of the auction.
8. Auction house does not accept payments by any payment cards and cash over 250,000 CZK.
9. The auctioned items are to be paid for to the bank account of the company Adolf Loos Apartment and Gallery Ltd. at bank: CSOB. All catalogue prices indicated in Euros are only orientational, are calculated at the rate of exchange 26 CZK/EUR, and serve as a guidance to the buyers. These prices will be recalculated in respect of the actual EUR/CZK rate of exchange of the Czech National Bank at the day of the auction. On request, it is possible to pay for all auctioned items in EUR or USD - the final price will be calculated in respect of the current EUR/CZK or USD/CZK rate of exchange of the Czech National Bank.
Hammer Price
10. The hammer price is the price attained upon the purchase of the item (i. e., the value of the bid to which the item was awar- ded); this hammer price constitutes the purchase price within the meaning of the Civil Code (Act No. 89/2012 Coll.). On top of the hammer price, the Successful bidder must pay the Auction House commission in the amount of 21% of this hammer price: the auction fee (unless otherwise specified in the auction catalogue). This auction fee includes VAT in the statutory amount and any applicable royalty due under the Artists Resale Right Regulations.
11. Any objections against being awarded a given item must be raised by the Successful Bidder promptly and at the auction hall, in a visible or audible manner. Later objections will be disregarded.
12. The Successful bidder shall confirm receipt of the auctioned item in writing, in a handover protocol that is to be signed by the Successful bidder and by the Auction House.
13. All expenses in connection with the acceptance of the auctioned item are borne by the Successful bidder.
14. The successful Bidder assumes all insurance responsibilities as soon as the sold lot is given to his or his appointed shippers' care. Should the successful Bidder not collect the sold lot within fourteen days after the auction (unless otherwise agreed in writing), the Auction House may charge the Bidder subsequent storage fees (100 CZK per any additional day). The Auction House's insurance policy fully covers all sold lots until they are collected by the Bidder or his appointed shipper, but for no longer than 14 days following the end of the auction.
15. Sold paintings and works of art will be handed over to the Bidder immediately after a payment is made in the auction room, or after payment is confirmed at the gallery and office of Adolf Loos Apartment and Gallery, address: U Starého h?bitova 40/6, Praha 1 - Josefov (open Monday - Friday from 10 am to 6 pm). We recommend you to arrange the collection date in advance by phone: +420 728 882 236.
Participation by Power of Attorney
16. Auction participants may bid for any item included in the auction even without being personally present at the auction hall, based on written power of attorney (PoA) granted to the Auction House (in the wording set out in Schedule 1 or 2 to these Auction Rules), either following the procedure described in paragraph (16) of this Article or following the procedure described in paragraph (17) of this Article.
17. Auction participants may bid for any item included in the auction via telephone, whereas they must for this purpose grant power of attorney to the Auction House (in the wording set out in Schedule 1 to these Auction Rules) and in such PoA specify their phone number; the Auction House will contact them prior to the opening of the auction for the item which the auction participant seeks. By communicating their phone number, the auction participant accepts complete liability for the correctness and accessibility of that number. The auction participant undertakes to give binding, clear, and transparent instructions to the Auction House (or its authorized staff member) after the floor has been opened for bids, so as to instruct the Auction House how it ought to proceed during the auction, including (but not limited to) the amount for which the auction participant is prepared to purchase the item specified in the PoA. By signing the PoA for telephone bidding, the participant commits to purchase the lot at the minimum Starting Price as listed in the auction catalogue (even if there is no further interest from other auction participants or should we be unable to reach the participant over the phone during the auction). Also, by granting power of attorney the auction participant expressly consents to the fact that the phone conversation may be recorded, whereas the Auction House is obliged to archive and use the recorded con- versation solely for the purpose of resolving potential disputes with the auction participant; beyond that, the Auction House must not make the recording accessible to any third party.
18. Auction participants may bid for any item included in the auction by setting a maximum bid ("reserve price"), whereas they must for this purpose grant power of attorney to the Auction House (in the wording set out in Schedule 2 to these Auction Rules) and in such PoA specify the final hammer price up to which they are willing to increase individual bids for the item they seek. No bids will be made for this auction participant above the stipulated maximum bid. The auction participant may enquire about the results of the auction via phone or e-mail. Once the item has been awarded to the auction participant within the limits of the stipulated maximum bid, the auction participant is considered the Successful Bidder, with all rights and obligations which this entails. If an auction participant successfully bids for an item which they seek following the procedure set out in this paragraph, the Auction House will send them an invoice including the terms of payment for the hammer price plus auction fee and VAT.
VII.
OPTIONAL SERVICES - FINAL PROVISIONS
1. The Auctioneer, Adolf Loos Apartment and Gallery Ltd., is not responsible for any print mistakes and colour differences in the auction catalogue. Participants in auction have the right to assess the condition of offered lots and ask for a condition report prior to the auction.
2. The estimate, professional expertise and auction item identification and description is provided by experts contracted by the Auctioneer. Only damage that has a bearing on the artistic value of the auctioned item is disclosed by the auction catalogue. All clients have an equal opportunity to view the auction items prior to auction, at the pre-auction exhibition. Any complaints regarding the price, quality, condition and functionality of the auctioned items will not be taken into account after the end of the bidding. Given the character and nature of the auctioned items (artwork), the Successful Bidder is waiving its rights from defective performances within the meaning of Sec. 1916 of the Civil Code (Act No. 89/2012 Coll.) when they make the bid by which they are subsequently awarded the given item.
3. The export of any items of cultural value is subject to special rules set out in Act No. 71/1994 Coll., on the sale and export of items of cultural value. "Items of cultural value", within the meaning of that law, are natural or human artifacts or sets thereof which are of significance to history, literature, art, or science and which satisfy the criteria set out in Annex No. 1 to the act. Such items may only be removed from the territory of the Czech Republic upon presentation of a certificate according to which they have not been declared a cultural relic nor do they form part of a greater whole which has been declared a cultural relic within the meaning of Act No. 20/1987 Coll., on national heritage conservation, as amended. Adolf Loos Apartment and Gallery is not authorised to issue any statements or guarantees regarding any possible export limitations related to any of the offered lots.
4. The Auction House can advise on and organise shipping of sold lots at the cost of the Buyer. The Auction House is not liable should permanent export of any sold lot be prevented by the Czech authorities due to current governing laws.
5. Any and all statements and representations in the auction catalogue concerning attributed qualities, origin, date, age, provenience, condition, minimum bid, or estimated amount of the successful bid are strictly an expression of the opinions of the Auction House. The Auction House reserves the right to consult experts or official institutions of any kind which it considers adequate and competent so as to form its own opinion, and to follow their advice.
6. Notices of any kind made by the Auction House towards BC Members or the Seller shall primarily be sent to the e-mail address of the BC Member's or Seller's choice; if no e-mail address was given, then notices will be sent via regular mail, though delivery by other demonstrable means into the hands of the addressee is also permissible. Notices of any kind are deemed delivered on the fifth day from the day on which they were dispatched. Money shall be paid in cash or sent via money order into the payee's hands, via transfer from a bank account or other form of cashless transfer; money may also be delivered by other demonstrable means into the hands of the addressee. In the case of cashless transfer, any amount is deemed transferred as of the moment on which it is charged against the payer's account, on the condition that it is subsequently credited to the payee's account.
7. Our experts assign the following meaning to these terms used in the auction catalogue:
signed - signed by the artist's hand
attributed - probably, but not certainly, a work of art by a given artist
studio/workshop - work of art made at a workshop, in a close proximity of the artist school of - work of art created in the style of the master and in the same period
circle of - work of art created in a wider circle of influence of the artist
follower of - work of art created by a follower of the master, can be an imitation or a repetition of a work of art of an unspecified date
These Auction Rules have been drawn up pursuant to, and are governed by, Czech law. Any and all transactions addressed by, or arising from, these Auction Rules, and all other pertinent circumstances, are governed by Czech law.
