Terms of Sale
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AUCTION TERMS
1. This is a public auction and mailbid sale conducted by Artemide Kunstauktionen GmbH (Artemide).
2. A 23% buyer's fee will be added to the "hammer price" or winning bid of each lot, inclusive of VAT where due.
3. All material shall be sold to the highest bidder as determined by the auctioneer. If any dispute arises during or immediately after the sale of a lot, the Auctioneer shall have the right to recall the lot and put it up for sale again. In all cases, auctioneer's decision shall be final. For the bidder's protection, NO "UNLIMITED" or "BUY" BIDS WILL BE ACCEPTED. Bids are to be made in EURO currency only.
4. Invoices are due immediately upon receipit. Title to all lots remains with consignor until paid in full. The auctioneer reserves the right to charge interest on unpayed invoices at the rate of 2% per calendar month, except where prior agreement has been made with regards to payment arrangements.
5. Floor bidders, internet and mail bidders that are not known to the auctioneer must furnish satisfactory credit references, sufficiently in advance of the sale to allow for checking, or per the discretion of the Auctioneer, a deposit equal to 25% of their total bids for that session(s) before such bids can be accepted. Deposits submitted will be applied to purchases and any unused portion of such deposit will be promptly refunded. All bid sheets submitted by mail bidders must be signed. Company bids must be submitted with the signature of a duly authorized agent of such company. If you bid by mail, mail your bid sheet early. Mail bidders and internet bidders agree to and are subject to these terms of sale just as they were floor bidders.
6. All bids must be per lot as numbered in this catalogue. Lots will be sold in their numbered sequence unless the auctioneer directs otherwise. The auctioneer can not be responsible for errors in bidding. Please make certain that you bid on the correct lot and that your bid is the maximum you are willing to pay.
7. A starting price is provided for each lot. Lots may sell for equal or above this base price. No bid below the starting price will be accepted.
8. If the auctioneer, in its sole discretion, determines that any property is substantially and materially different from that represented in the catalogue of sale, or in any written advertisement or material, the sale shall be cancelled and the auctioneer shall refund the purchase price to the buyer.
9. All statements in the catalogue entry for the lots or in the condition report, or made orally or in writing elsewhere, are statements of opinion and are not to be relied on as statements of fact. Such statements do not constitute a representation, warranty or assumption of liability by Artemide Kunstauktuonen of any kind. References in the catalogue entry or the condition report to damage or restoration are for guidance only and should be evaluated by personal inspection by the bidder or a knowledgeable representative. The absence of such a reference does not imply that an item is free from defects or restoration, nor does a reference to particular defects imply the absence of any others. All property is sold "AS IS" without any representations or warranties by us or the Consignor as to merchantability, fitness for a particular purpose, the correctness of the catalogue or other description of the physical condition, size, quality, rarity, importance, medium, provenance, exhibitions, literature or historical relevance of any property and no statement anywhere, whether oral or written, whether made in the catalogue, an advertisement, a bill of sale, a salesroom posting or announcement, or elsewhere, shall be deemed such a warranty, representation or assumption of liability.
10. Claims of any kind must be made in writing within 7 days after receipt of the lot. Any returned lot must be intact and in its original condition. No lot may be returned without prior written consent. In no event may any lot be returned after thirty (30) days from the date of the sale. LATE REMITTANCE FOR PURCHASES CONSTITUTES JUST CAUSE TO ABROGATE ALL RETURN PRIVILEGES FOR ANY REASON.
11. This is not an approval sale. Bidders are expected to promptly purchase all lots awarded to them by the auctioneer. Bidders are encouraged to carefully examine all lots which they are interested in purchasing.
12. Bids for all lots must be submitted in Euro amounts. Mail, fax or emails bids must be received prior to the closing date of the auction or there will be no guarantee that they will be timely executed. Successful mail bidders will be awarded the lot at a nominal 10% over the second highest mail or floor bid. When identical bids are received by the auctioneer for a lot, preference is given to the first bid received. A mail bid will take precedence over an identical floor bid. A floor bidder must bid higher than the highest mail bidder to be awarded any lot.
13. The auctioneer reserves the right to refuse to honour any bid or to limit the amount of any bid which, in his opinion, is not submitted in "Good Faith", or, as the case dictates, is not supported by satisfactory credit and references, as the auctioneer, in its sole discretion, shall determine. A bid is also considered not made in "Good Faith" when it is made by an insolvent or irresponsible person, or a person under the age of eighteen. Auctioneer reserves the right to exclude any person it deems in its sole opinion is disruptive to the sale or is otherwise commercially unsuitable. Auctioneer reserves the right to rescind the sale in the event of any non-payment, breach of warranty, disputed ownership, auctioneer's clerical error or omission in exercising bids and reserves or otherwise.
14. Same lots may carry a reserve. The auctioneer reserves the right not to sell an item below the confidential price, or will repurchase the item on behalf of the consignor up to the amount of the reserve against any bidder.
15. All photographs in this catalog are of the actual items being sold. All dimensions are approximate.
16. Postage, insurance and sales tax, if required by law to be collected, will be added to the invoice for any lot(s) invoiced to successful bidders.
17. Auctioneer reserves the right to require payment in full before delivering any lot to a successful bidder. It is the buyer's responsibility and obligation to have the lots fully insured while in his/her possession. Lots shall be payed in full and take away from our premises at the buyer's risk and expense within 15 days of the conclusion of the sale.
18. In the event a bidder fails to make remittance promptly, auctioneer reserves the right to resell the merchandise and bidder agrees to pay for the reasonable cost of such a sale and also to pay any difference between the resale price and the previously successful bid.
19. The auctioneer reserves the right to postpone the auction sale for a reasonable period of time, as the result of any significant relevant event, which, in the judgment of the auctioneer, reasonably exercised, make it inadvisable to hold the auction.
20. By bidding in this sale, bidder personally guarantees payment; if a corporation is the bidder, the officers and/or principals of the corporation agree to personally guarantee payment. Mail or fax bids must be signed.
21. The auctioneer reserves the right to include its own material in any auction sale. The auctioneer may have direct or indirect interests in auction lots. The auctioneer may make loans or advances to consignors and/or prospective purchasers. The consignor may be permitted to bid on his, her or their own articles and to buy them back at the sale. Any buyer who bids on or purchases their own goods is required to pay for them, in full, as the terms of sale provide for together with the full buyer's commission, and any other applicable surcharges, postage, handling, insurance fees and taxes, without rebate of any kind whatsoever, unless provided for otherwise by contract with the auctioneer. The auctioneer reserves the right to make accounting adjustments in lieu of payment. Settlement will follow the auction. The prices realized reflect the final price called by the auctioneer and may include a bid of a consignor reacquiring their lot.
22. In the event the auctioneer shall, for any reason other than set forth in paragraph 8, be unable to deliver the property sought to be purchases, its liability therefore shall be limited to the rescission of the sale and refund of the purchase price and buyer's. The auctioneer shall have no liability for damages, incidental, consequential or otherwise, arising out of its failure to deliver any property purchased, and all bidders agree to this.
23. The auctioneer shall have a lien against the merchandise purchased by the buyer and any other property of the buyer then held by the auctioneer to secure payment of the auction invoice(s) and any other amounts due to the auctioneer from the buyer.
24. It is unlawful and illegal for bidders to collude, pool, or agree with another bidder to pay less than the fair value for lot(s). Bidders in the sale acknowledge that the law provides for substantial penalties in the form of treble damages and attorney's fees and costs for those who violate these provisions.
25. Any dispute regarding this auction shall be governed by the laws of Austria and shall be adjudicated only by the Court of Vienna.
26. Bidding in this sale (by any means) or participating in this sale constitutes acceptance by the bidder or participant of all the fore mentioned terms and conditions of the sale.
Payment methods:
- Credit card (VISA, Mastercard), +4%
- Cash
- Cheque in EURO currency
- SEPA bank wire transfer:
Beneficiary: Artemide Kunstauktionen GmbH
Bank: Bank Austria
IBAN: AT 6012000506 7006 3305
BIC/SWIFT: BKAUATWW
Please contact us for non EU bank wire transfers.
