Conditions of Sale
SolidArty Terms & Conditions
GENERAL INFORMATION FOR BUYERS AT AUCTION
1. Introduction. The following notices are intended to assist buyers, particularly those that are new to our saleroom and internet bidding platforms. The Terms of Sale are the SolidArty and the artists involved ("Sotheby's", "we", "us", or "our") entire agreement with the purchaser and any bidders ("you" or "your") relative to the artworks listed in this catalogue and the related auction. Please make sure that you read our Terms of Sale set out in this catalogue carefully before bidding in the auction. In registering to bid with us you are committing to be bound by our Terms of Sale.
Disclaimer: This auction is a student led initiative, tasked with auctioning emerging contemporary artists sourced by students of Sotheby's Institute of Art. Therefore, following the completion of the sale, SolidArty is not responsible for further requests on behalf of the buyer.
2. Buyer's premium. There will be no buyer's premium as this is a charity auction. All proceeds will go to Doctors Without Borders.
3. Estimates. Estimates are intended to indicate the hammer price that a particular lot may achieve. The lower estimate may represent the reserve price (the minimum price for which a lot may be sold) and cannot be below the reserve price.
6. Bidding. Bidders will be required to register with Invaluable before bidding. Purchases will be invoiced to the buyer's registered name and address only. When first registering for an account with Invaluable you will need to provide us with proof of your identity in a form acceptable to us. In registering for this sale you agree to be bound by our terms and conditions regardless of your method of bidding.
5. Commission bidding. You may leave commission bids with us indicating the maximum amount you authorise us to bid on your behalf for a lot. We will execute commission bids at the lowest price possible having regard only to the vendor reserve and competing bids. We recommend that you submit commission bids using your account on our website.
6. Methods of Payment. We accept payments in bank transfers (details below). All funds need to have cleared into our account before items are collected. For bank transfers, please quote the Invoice Number as the payee reference:
Account name: SolidArty
IBAN: FR7618206003986507036757779 BIC: AGRIFRPP882
8. Loss and Damage to Goods. We are not authorised to provide insurance services. Liability for a lot passes to the buyer on the fall of the hammer or conclusion of an online auction (as applicable). In the event that you wish for us to continue to accept liability for your purchased lots this must be agreed with us in writing in advance of the sale and any agreed charges are payable before collection of the goods.
9. Shipping. We can help you arrange packing and shipping of your purchases by arrangement with our shipping department. Please contact studentauction@sothebysinstitute.com
TERMS OF SALE
Both the sale of goods at our auctions and your relationship with us are governed by the Terms of Consignment (primarily applicable to sellers) the Terms of Sale (primarily applicable to bidders and buyers) and any notices displayed in the saleroom or announced by us at the auction (collectively, the "Conditions of Business").
You must read these Terms of Sale carefully. Please note that if you register to bid and/or bid at auction this signifies that you agree to and will comply with these Terms of Sale.
Definitions and interpretation
To make these Terms of Sale easier to read, we have given the following words a specific meaning:
"Bidder" means a person participating in bidding at the auction;
"Bidding Platform" means the bidding platform on which an auction is held
"Buyer" means the person who makes the highest bid for a Lot;
"Hammer Price" means the level of the highest bid accepted for a Lot by the fall of the hammer;
"Lot(s)" means the goods that we offer for sale at our auctions;
"Reserve" means the minimum hammer price at which a Lot may be sold;
"Sale Proceeds" means the net amount going to Doctors Without Borders;
"Seller" means the artist selling their work at auction for Doctors Without Borders through SolidArty
"Terms of Consignment" means the terms on which we agree to offer Lots for sale in our auctions as agent on behalf of artists;
"Terms of Sale" means these terms of sale, as amended or updated from time to time;
In these Terms of Sale, the words 'you', 'yours', etc. refer to you as the Buyer. The words "we", "us", etc. refer to SolidArty. Any reference to a 'Clause' is to a clause of these Terms of Sale unless stated otherwise.
1. Bidding procedures and the Buyer
1.1 You must register your details with Invaluable before bidding and provide us with any requested proof of identity and billing information, in a form acceptable to us.
1.2 The Bidder placing the highest bid accepted for a Lot will be the Buyer at the Hammer Price. Any dispute about a bid will be settled at our sole discretion. We may reoffer the Lot during the auction or may settle any dispute in another way. We will act reasonably when deciding how to settle the dispute.
1.3 Bidders will be deemed to act as principals, even if the Bidder is acting as an agent for a third party.
1.4 We may at our sole discretion refuse to accept any bid.
1.5 Bidding increments will be set at our sole discretion.
1.6 Our Terms of Sale shall remain in force for any purchases made within 48 hours following an auction.
2. The contract between you and the Seller
2.1 The contract for the purchase of the Lot between you and the Seller will be formed when the hammer falls accepting the highest bid for the Lot at the auction.
2.2 You may directly enforce any terms in the Terms of Consignment against a Seller to the extent that you suffer damages and/or loss as a result of the Seller's breach of the Terms of Consignment.
2.3 If you breach these Terms of Sale, you may be responsible for damages and/or losses suffered by a Seller or us. If we are contacted by a Seller who wishes to bring a claim against you, we may at our discretion provide the Seller with information or assistance in relation to that claim.
2.4 We normally act as an agent only and will not have any responsibility for default by you or the Seller (unless we are the Seller of the Lot).
2.5 The Seller is entitled to reproduction rights to their artworks following its sale.
2. Payment
2.1 Following your successful bid on a Lot you will:
2.1.1 immediately give to us, if not already provided to our satisfaction, proof of identity in a form acceptable to us (and any other information that we require in order to comply with our anti-money laundering obligations); and
2.1.2 pay to us within 3 working days the Total Amount Due in any way that we agree to accept payment.
2.2 If you owe us any money, we may use any payment made by you to repay prior debts before applying such monies towards your purchase of the Lot(s).
3. Title and collection of purchases
3.1 Once you have paid us in full the Total Amount Due for any Lot, ownership of that Lot will transfer to you. You may not claim or collect a Lot until you have paid for it in full.
3.2 Risk of loss or damage to the Lot will pass to you at the fall of the Hammer or when you have otherwise purchased the Lot.
4. Remedies for non-payment or failure to collect purchases
4.1 Please do not bid on a Lot if you do not intend to buy it. If your bid is successful, these Terms of Sale will apply to you. This means that you will have to carry out your obligations set out in these Terms of Sale. If you do not comply with these Terms of Sale, we may (acting on behalf of the Seller and ourselves) pursue one or more of the following measures:
4.1.1 take action against you for damages for breach of contract;
4.1.2 reverse the sale of the Lot to you and/or any other Lots sold by us to you;
4.1.3 resell the Lot by auction or private treaty (in which case you will have to pay any difference between the Total Amount Due for the Lot and the price we sell it for as well as the charges outlined in Clause 7 and 8.1.5). Please note that if we sell the Lot for a higher amount than your winning bid, the extra money will belong to the Seller;
4.1.4 keep that Lot or any other Lot sold to you until you pay the Total Amount Due;
4.2 We will act reasonably when exercising our rights under Clause 8.1. We will contact you before exercising these rights and try to work with you to correct any non- compliance by you with these Terms of Sale.
5. Warranties
5.1 The Seller warrants to us and to you that:
5.1.1 the Seller is the true owner of the Lot for sale or is authorised by the true owner to offer and sell the lot at auction;
5.1.2 the Seller is able to transfer good and marketable title to the Lot, subject to any restrictions set out in the Lot description, to you free from any third party rights or claims; and
5.1.3 as far as the Seller is aware, the main characteristics of the Lot set out in the auction catalogue (as amended by any notice displayed in the saleroom or announced by the Auctioneer at the auction) are correct. For the avoidance of doubt, you are solely responsible for satisfying yourself as to the condition of the Lot in all respects.
5.2 If, after you have placed a successful bid and paid for a Lot, any of the warranties above are found not to be true, please notify us in writing. Neither we nor the Seller will be liable, under any circumstances, to pay you any sums over and above the Total Amount Due and we will not be responsible for any inaccuracies in the information provided by the Seller except as set out below.
5.3 Save as expressly set out above, all other warranties, conditions or other terms which might have effect between the Seller and you, or us and you, or be implied or incorporated by statue, common law or otherwise are excluded.
6. Descriptions and condition
6.1 Our descriptions of the Lot will be based on: (a) information provided to us by the Seller of the Lot (for which we are not liable); and (b) our opinion (although we do not warrant that we have carried out a detailed inspection of each Lot).
6.2 Representations or statements by us as to authorship, genuineness, origin, date, age, provenance, condition or estimated selling price involve matters of opinion. We undertake that any such opinion will be honestly and reasonably held, subject always to the limitations in 10.1, and accept liability for opinions given negligently or fraudulently.
6.3 Please note that Lots are unlikely to be in perfect condition.
6.3.1 Lots are sold "as is" (i.e. as you see them at the time of the auction).
7. Our liability to you
7.1 We will not be liable for any loss of opportunity or disappointment suffered as a result of participating in our auction.
7.2 In addition to the above, neither we nor the Seller shall be responsible to you and you shall not be responsible to the Seller or us for any other loss or damage that any of us suffer that is not a foreseeable result of any of us not complying with the Conditions of Business. Loss or damage is foreseeable if it is obvious that it will happen or if at the time of the sale of the Lot, all of we, you and the Seller knew it might happen.
7.3 If we are found to be liable to you for any reason (including, amongst others, if we are found to be negligent, in breach of contract or to have made a misrepresentation), our liability will be limited to the Total Amount Due as paid by you to us for any Lot.
7.4 Notwithstanding the above, nothing in these Terms of Sale shall limit our liability (or that of our employees or agents) for:
7.4.2 fraudulent misrepresentation; or
7.4.3 any liability which cannot be excluded by law.
8. Data Protection
Invaluable will hold and process any personal data in relation to you in accordance with the principles underlying the Data Protection Act.
9. General
9.1 We act as an agent for our Sellers. The rights we have to claim against you for breach of these Terms of Sale may be used by either us, or the Seller, its employees or agents, as appropriate. Other than as set out in this Clause, these Terms of Sale are between you and us and no other person will have any rights to enforce any of these Terms of Sale.
9.2 We may use special terms in the catalogue descriptions of particular Lots. You must read these terms carefully along with any glossary provided in our auction catalogues.
9.3 Each of the clauses of these Terms of Sale operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining clauses will remain in full force and effect.
9.4 We may change these Terms of Sale from time to time, without notice to you. Please read these Terms of Sale for every sale in which you intend to bid carefully, as they may be different from the last time you read them.
9.5 Except as otherwise stated in these Terms of Sale, each of our rights and remedies: (a) are in addition to and not exclusive of any other rights or remedies under these Terms of Sale or general law; and (b) may be waived only in writing and specifically. Delay in exercising or non-exercise of any right under these Terms of Sale is not a waiver of that or any other right. Partial exercise of any right under these Terms of Sale will not preclude any further or other exercise of that right or any other right under these Terms of Sale. Waiver of a breach of any term of these Terms of Sale will not operate as a waiver of breach of any other term or any subsequent breach of that term.
9.7 These Terms of Sale and any dispute or claim arising out of or in connection with them (including any non-contractual claims or disputes) shall be governed by and construed in accordance with the laws of England and Wales and the parties irrevocably submit to the exclusive jurisdiction of the English courts.
