Terms and Conditions of Sale
CONDITIONS OF SALE:
Hidden Treasures Antiques & Fine Arts is on line auction ONLY.
1. BINDING TERMS
The catalogue and auction offered through Invaluable Live located at www.invaluable.com, the catalogue and auction that may be offered through eBay located at www.ebay.com, and the catalogue and auction that may be offered through the Web site located at www.htantiques.com each, the "Web Service") is a service of Hidden Treasures Antiques & Fine Art Inc. ("Hidden Treasures," "us" or "we").
The lots listed in this catalogue will be offered by Hidden Treasures as owner or as agent for consignor subject to the following terms and conditions. Where Hidden Treasures is agent, the contract is between seller and buyer. The following Conditions of Sale and Terms of Guarantee constitute the entire agreement with the purchaser relative to the property listed in this catalogue. By bidding at auction you agree to be bound by these terms:
BY ACCESSING, VIEWING, OR USING THE CONTENT, MATERIAL, OR ANY SERVICES AVAILABLE ON OR THROUGH THIS WEB SERVICE, YOU INDICATE THAT YOU HAVE READ AND UNDERSTAND THESE TERMS, THAT YOU AGREE TO THEM AND INTEND TO BE LEGALLY BOUND BY THEM. IF YOU DO NOT AGREE TO THESE TERMS, OR IF YOU ARE NOT AUTHORIZED TO CONTRACT, OR IF YOU ARE UNDER 18 YEARS OF AGE, OR IF YOU WERE PREVIOUSLY SUSPENDED FROM THE WEB SERVICE, YOU ARE NOT GRANTED PERMISSION TO USE THIS WEB SERVICE AND MUST EXIT IMMEDIATELY.
Absentee bids or bids made by phone will be processed by Hidden Treasures Antiques & Fine Arts, who will bid online on behalf of the bidder.
Hidden Treasures Antiques & Fine Art Inc. from New York does not guarantee that live Internet bidding will be uninterrupted or without error, or that Internet bids will be received.
2. AS IS
All lots are sold "AS IS" and without recourse and neither Hidden Treasures nor its consignor makes any warranties or representations, express or implied, with respect to such lots, except for the limited warranties expressly stated in the Terms of Guarantee section of this catalogue. Prospective buyers are strongly advised to examine personally any property in which they are interested, before the auction takes place, to determine its condition, size, and whether or not it has been repaired or restored.
Except as otherwise expressly and specifically provided in the Terms of Guarantee, neither Hidden Treasures nor its consignor makes any express or implied warranty or representation of any kind or nature with respect to merchantability, fitness for purpose, correctness of the catalogue or other description of the physical condition, size, quality, rarity, importance, medium, material, genuineness, attribution, provenance, period, culture, source, origin, exhibitions, literature or historical significance of any lot sold. The absence of any reference to the condition of a lot does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections or the effects of aging; nor does a reference to particular defects imply the absence of others. 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 Terms of Guarantee are controlling, and no statement, whether written or oral, and whether made in this catalogue, an advertisement, a bill of sale, a salesroom posting or announcement, the remarks of an auctioneer, or otherwise, shall be deemed to create any warranty, representation or assumption of liability. All statements by Hidden Treasures in the catalogue entry for the property 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. Except as stated in the Terms of Guarantee, neither Hidden Treasures nor the seller is responsible in any way for errors or omissions in the catalogue or any supplemental material. Buyers are responsible for satisfying themselves concerning the condition of the property and the matters referred to in the catalogue entry.
Hidden Treasures and its consignor make no warranty or representation, express or implied, that the purchaser will acquire any copyright or reproduction rights to any lot sold. Hidden Treasures expressly reserves the right to reproduce any image of the lots sold in this catalogue. The copyright in all images, illustrations and written material produced by or for Hidden Treasures relating to a lot, including the contents of this catalogue, is, and shall remain at all times, the property of Hidden Treasures and shall not be used by the buyer, nor by anyone else, without our prior written consent.
3. WITHDRAWAL
Hidden Treasures reserves the right to withdraw any lot at any time prior to the commencement of bidding for such lot and shall have no liability whatsoever for such withdrawal.
4. RESERVES
If the auctioneer decides that any opening bid is below the value of the lot offered, the auctioneer may reject that bid and withdraw the lot from sale; and if, having acknowledged an opening bid, he decides that any advance thereafter is insufficient, he may reject that advance. Unless otherwise indicated, all lots are offered subject to a reserve, which is the confidential minimum price below which such lot will not be sold. No reserve will exceed the low estimate of the lot. Reserves are agreed upon with the consignor or, in the absence thereof, in the absolute discretion of Hidden Treasures.
Unless otherwise announced by the auctioneer, all bids are per lot as numbered in the catalogue.
The auctioneer may implement the reserve by opening bidding on any lot by placing a bid on behalf of the seller. The auctioneer will not specifically identify bids placed on behalf of the seller. The auctioneer may further bid on behalf of the seller, up to the amount of the reserve, by placing successive or consecutive bids for a lot or by placing bids in response to other bidders.
5. ESTIMATES
Each lot in the catalogue is given a low and high estimate representing that range which, in the opinion of Hidden Treasures, represents a fair and probable auction value. When possible, the estimate is based on previous auction records of comparable property, condition, rarity, quality and provenances. The estimates are often determined several months before a sale and are therefore subject to change upon further research of the property, or to reflect market conditions or currency fluctuations. Estimates are subject to revision. Actual prices realized for items can fall below or above this range. An estimate of the selling price should not be relied on as a statement that this is the price at which the item will sell or its value for any other purpose. Estimates do not include the buyer's premium. Where "Estimate on Request" appears, please contact the Specialist Department for further information.
6. BIDDING
Hidden Treasures Antiques & Fine Arts is on line auction ONLY.
Hidden Treasures reserves the right, at our complete discretion, to refuse admission to the premises or participation in any auction and to reject any bid, as well as the right to refuse to acknowledge any bidder. The highest bidder acknowledged by the auctioneer will be the purchaser. The auctioneer has the right at his absolute and sole discretion to advance the bidding in such a manner as he may decide, to withdraw or divide any lot, and to combine any two or more lots. In the event of error or dispute between bidders, or in the event of doubt on our part as to the validity of any bid, whether during or after the sale, the auctioneer has final discretion to determine the successful bidder, to continue the bidding, to cancel the sale, or to reoffer and resell the lot in dispute. If any dispute arises after the sale, the Hidden Treasures sale record shall be conclusive.
7. PURCHASER'S RESPONSIBILITY
Title passes upon the fall of the auctioneer's hammer to the highest acknowledged bidder, subject to the conditions of sale set forth herein. Such bidder thereupon assumes full risk and responsibility therefore (including, without limitation, liability for or damage to frames and glass covering prints, paintings or other works). Although in our discretion we will execute orders or absentee bids or accept telephone bids as a convenience to clients who are not present at auctions, we are not responsible for any errors or omissions in connection therewith.
When making a bid, a bidder is accepting personal liability to pay the purchase price as follows, unless it has been explicitly agreed in writing with Hidden Treasures before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to Hidden Treasures, and that Hidden Treasures will look only to the principal for payment:
The total purchase price to be paid by purchaser is the amount of the successful bid price plus a premium of 20% on the first $100,000 of the hammer price and 15% on that portion of the hammer price exceeding $100,001. Payment shall be made as follows:
A cash or Credit card deposit of not less than 25% of the purchase price (unless the whole purchase price is required at the sole discretion of Hidden Treasures) will be paid on the day of the auction. Deposits shall apply to all purchases made at this sale and not to any one particular lot.
Prior to the sale, the buyer must provide us with his or her name and permanent address and, if so requested, details of the bank from which payment will be made.
The balance of the purchase price, if any, should be paid for and picked up at Hidden Treasures within 7 days after the auction. Such payment shall be made in U.S. dollars by certified or cashier check drawn on a U.S. bank unless other arrangements are made with Hidden Treasures. The buyer will not acquire title to the lot until we have received all amounts due to us from the buyer in good cleared funds even in circumstances where we have released the lot to the buyer. Hidden Treasures reserves the right to hold merchandise purchased by personal check until the check has cleared the bank. The purchaser agrees to pay Hidden Treasures a handling charge of $25 for any check dishonored by the drawer.
At some auctions there may be a video or digital screen. Errors may occur in its operation and in the quality of the image, and Hidden Treasures does not accept liability for such errors.
8. REMEDIES AVAILABLE TO HIDDEN TREASURES
In addition to the other remedies available to us by law, we reserve the right to impose a late charge of 1 1/2% per month of the total purchase price if payment is not made in accordance with the conditions set forth herein. All property must be removed from our premises by the purchaser at their expense not later than five (5) business days following its sale and, if it is not removed, Hidden Treasures reserves the right to charge a minimum storage fee of $5 per lot per day or to deliver the property to a public warehouse for storage at the purchaser's expense, to be released only after payment in full of all removal, storage, handling, insurance and any other costs incurred, together with payment of all other amounts due to us. Hidden Treasures shall have no liability for any damage to property left on its premises for more than (2) days following the sale.
If any applicable conditions herein are not complied with by the purchaser, in addition to other remedies available to us and the consignor by law, including without limitation the right to hold the purchaser liable for the total purchase price, including all fees, charges and expenses more fully set forth herein, we shall be entitled in our absolute discretion to exercise one or more of the following rights or remedies:
a) To charge interest at such rate as we shall reasonably select;
b) To hold the defaulting buyer liable for the total amount due and to commence legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law;
c) Cancel the sale of that, or any other lot or lots sold to the defaulting purchaser at the same or any other auction, retaining as liquidated damages all payments made by the purchaser;
d) Resell the property whether at private sale or public auction without reserve, and the purchaser will be liable for any deficiency, cost, including handling charges, the expenses of both sales, our commission on both sales at our regular rate, all other charges due hereunder and incidental damages;
e) To set off the outstanding amount remaining unpaid by the buyer against any amounts which we may owe the buyer in any other transactions;
f) Where several amounts are owed by the buyer to us, in respect of different transactions, to apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not the buyer so directs;
g) To reject at any future auction any bids made by or on behalf of the buyer or to require a deposit from the buyer before accepting any bids;
h) To take such other actions as we deem necessary or appropriate; or
i) To effect any combination thereof.
In addition, a defaulting purchaser will be deemed to have granted and assigned to us a continuing security interest of first priority in, and we may retain as collateral security for such purchaser's obligations to us, any property or money of or owing to such purchaser in our possession. We shall have all of the rights accorded a secured party under the New York Uniform Commercial Code with respect to such property and we may apply against such obligations all monies held or received by us for the account of, or due from us, to such purchaser. At our option, payment will not be deemed to have been made in full until we have collected funds represented by checks, or in the case of bank or cashier's checks, we have confirmed their authenticity. In the event the purchaser fails to pay any or all of the total purchaser price for any lot and Hidden Treasures nonetheless elects to pay the consignor any portion of the sale proceeds, the purchaser acknowledges that Hidden Treasures shall have all of the rights of the consignor to pursue the purchaser for any amounts paid to the consignor, whether at law, in equity, or under these Conditions of Sale.
9. LIMITED LIABILITY
If for any cause a purchased lot cannot be delivered in as good condition as at the time of sale, or should any purchased lot be stolen or mis-delivered or lost prior to delivery, Hidden Treasures shall not be liable for any amount in excess of that paid by the purchaser. We are not responsible for the acts or omissions of carriers or packers of purchased lots, whether or not recommended by us. Packing and handling of purchased lots by us is at the entire risk of the purchaser and Hidden Treasures will have no liability for any loss or damage to such items.
10. HIDDEN TREASURES EMPLOYEES
Employees of Hidden Treasures are not prohibited from bidding on property. In the course of their employment it is possible that they may have access to information not available to the public.
11.
Hidden Treasures on occasion makes loans or advances funds to consignors.
12. WAIVER OF CONDITIONS
Any and all of these conditions may be waived or modified in the sole discretion of Hidden Treasures. The Conditions of Sale, Terms of Guarantee, the glossary, if any, and all other contents of this catalogue are subject to amendment by us by oral announcements made during the sale. Salesroom notices amend the catalogue description of a lot after our catalogue has gone to press. They are posted in the viewing galleries and salesroom or are announced by the auctioneer. Please take note of them.
13.
All measurements and weight are approximate. Hidden Treasures is not responsible for damage of glass covering paintings, drawings and other works or frames regardless of cause.
14.
If any part of these Conditions of Sale is found by any court to be invalid, illegal or unenforceable, the balance of the conditions shall continue to be valid to the fullest extent permitted by law.
15.
The rights and obligations of the parties with respect to these Conditions of Sale and Terms of Guarantee, as well as the purchaser's and our respective rights and obligations hereunder, the conduct of the auction and any matters connected with any of the foregoing, shall be governed and interpreted by the laws of the State of New York. By bidding at auction, whether present in person or by agent, by written bid, telephone or other means, the buyer shall be deemed to have submitted, for the benefit of Hidden Treasures, to the exclusive jurisdiction of the federal or state courts located in the state and county of New York and waives any objection to the jurisdiction and venue of any such court.
CONTRACT:
By bidding via Artfact/Invaluable Live/eBay you agree to be bound by the terms and conditions of sale.
PAYMENT:
Accepted forms of payment include bank wire transfers, cash (in US currency up to $5,000), traveler's check (in US currency up to $5,000), money orders (in US currency up to $5,000), or personal check made payable in US dollars drawn on a US bank (up to $5,000), unless other arrangements are made with Purchaser Accounts.
SHIPPING:
Shipping is the responsibility of the buyer. Hidden Treasures does pack items for a fee; the amount of the fee differs upon each item. Upon request, we may suggest a list of shippers who deliver to destinations within the United States and overseas.
BUYER'S PREMIUM:
Hidden Treasures charges a premium to the buyer on the final bid price of each lot sold at the following rates: 20% plus 5% internet fees on the first $100,000 of the hammer price and 15% plus 5% internet fees on that portion of the hammer price exceeding $100,001.
TAXES:
Applicable sales tax will also be added to the final total. New York Sales tax is charged on the hammer price, buyer's premium and any other applicable charges on any property picked up or delivered in New York State, regardless of the state or country in which the purchaser resides or does business.
CONDITION REPORTS:
The absence of a condition statement does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections or the effects of aging. Any condition statement is given as a courtesy to a client, is only an opinion and should not be treated as a statement of fact. Hidden Treasures shall have no responsibility for any error or omission.
CONDITION REPORTS:
1. Lots are put on sale by Aste Boetto at a public auction. Aste Boetto acts as exclusive agent in its own right and on behalf of each seller whose name is registered at Aste Boetto. The seller is responsible for the items on sale and Aste Boetto accepts no responsibility with regards to the buyer other than that which may derive from its position as agent.
2. The items are sold to the highest bidder for cash: in the case of disagreement between more than one high bidder, the disputed item may, at the sole discretion of the auc- tioneer, be relisted for new bidding during the same auction. When making a bid, the bidder accepts full personal responsibility to pay the price agreed inclusive of the Auction Commission and all other due fees and taxes.
3. Aste Boetto reserves the right to withdraw any lot from the auction. During the auction, the auctioneer has the right to separate or join lots and to change the order of their sale. The auctioneer may, furthermore, at his discretion, withdraw any lot which does not reach the reserve price agreed between Aste Boetto and the seller.
4. An auction commission of 23% is to be added to the final selling price. Goods marked "*" which are offered by sellers not subject to "margin regulations" (VAT paid on only the difference between the original purchase price and sale price) are subject to the auction commission of 23% plus VAT on the entire value of the sale item plus ex- penses.
5. The auction director may accept a specific mandate to bid for lots at a determined price and make offers on behalf of the seller.
6. Aste Boetto may accept mandates for buying (written and telephonic) and raise bids through the auctioneer at public auctions. Aste Boetto may not be held responsible in any way for not receiving written or telephonic offers or for any errors or omissions in said offers.
7. In the case of two identical offers for the same lot, the offer will be awarded to the offer which was received first. Aste Boetto reserves the right to refuse offers from unknown bidders unless a deposit is raised which covers the entire value of the desired lot or in any case an adequate guarantee is supplied. At the time of assignment of a lot, Aste Boetto may require identification de- tails from the purchaser and in the case of referred and non cash payment, the purchaser must supply Aste Boetto with a con- gruous and checkable bank reference: in the case of references which do not correspond, are incomplete or inadequate, Aste Boetto reserves the right to annul the sale contract of the assigned lot.
8. Aste Boetto acts as agent for the seller and declines responsibility deriving from de- scriptions of the items in the catalogues, brochures or any other such descriptive material: the descriptions as stated above as
with all other illustrations are purely indicative. All auctions are preceded by an exhibition in order to allow a thorough examination of the authenticity, condition, origin, type and quality of the items. After the assignment of a lot, neither Aste Boetto nor the seller can be held responsible for flaws with regards to the condition, for mis- taken attribution, origin, authenticity, weight or quality of the items. Neither Aste Boetto nor anyone charged by Aste Boetto can release any guarantee in this sense other than in cases foreseen by law.
9. The starting price relative to the possible auctioning of each lot is printed under the description of said lot and do not include the Auction commission to be paid by the purchaser. These estimates are nevertheless made well before the date of the auction and may therefore de subject to modification. The descriptions of the lots in the catalogue may also be subject to revision via communication to the public during the auction.
10. Aste Boetto may require payment in full of the final price and Auction Commission, in any case, full payment in Euros must be made within seven days of the assignment. Having paid the final price and Auction Commission, the purchaser must collect the lots bought at his own risk, responsibility and expense within seven days of the pur- chase. At the end of said period, Aste Boetto will be exonerated of all responsibility with regards to the purchaser concerning storage and possible deterioration of the items and may exercise the right to apply a charge for the storage of each single lot at the rate of € 5.00 per day for furniture and € 2,50 per day for other items. Items sold off site and not collected will be transported and stored in our warehouses. Any transport costs will be the responsibility of the purchaser. If specifically requested by the purchaser, and at their risk and expense, Aste Boetto may arrange packaging, transport and insurance of the lots.
11. In the case on non-payment, Aste Boetto can:
a) return the goods to the seller and demand from the buyer payment of the lost commission,
b) act in order to obtain enforcement of compulsory payment
c) sell the lot at a private sale or subsequent auction, and in any case detain as penalty any deposits paid.
12. Notwithstanding any disposition contrary to this content, Aste Boetto reserves the right to agree with the purchaser, special forms of payment, public or private warehouse storage, to sell assigned lots which have not been collected privately, to insure assigned lots, to resolve disputes and claims by or against the purchaser and to generally undertake actions considered appropriate in order to collect payment owed by the purchaser or even according to the circum-
stances, annul the sale according to articles 13 and 14 of Italian civil law and to return the goods to the purchaser.
13. Purchasers are required to uphold all laws and regulations in force with regards to the items declared to be of particular impor- tance and for which the procedure of decla- ration was began in accordance with article 6 es. Of the legislative decree 29 October 1999, n°490, with particular regards to article 54 of the same decree. The export of goods by the purchaser, resident and not in Italy, is regulated by the aforementioned de- cree and furthermore by customs, currency and tax regulations in force. The approxi- mate cost of an export license is E.200,00. Waiting time is about 45 days following the application to the export office of the "Ministero dei Beni Culturali".
The application for an export license is to be sent to the Ministry on payment of the lot and with explicit written authorization of the purchaser. Aste Boetto is not held responsi- ble in any way to the purchaser with regards to any eventual export restrictions concerning the lot assigned, nor for any license or permit which the purchaser of a lot must acquire in accordance with Italian law. In the case of the State exercising the right of withdrawal, the purchaser cannot expect any reimbursement from Aste Boetto or from the seller, of interest on the price or Auction Commission already paid.
14. In the case of a reasonable contestation, accepted by Aste Boetto, with regards to faked works of art, and given that a written com- munication is received by Aste Boetto within 21 days of the sales, Aste Boetto may, at its discretion annul the sale and should the purchaser so require, reveal the name of the seller informing said seller of this action.
15. All information regarding hall-marks of met- als, carats and weight of gold, diamonds and precious coloured gems are to be considered purely indicative and approximate and Aste Boetto cannot be held responsible for eventual errors contained in said informa- tion nor for the falsification of precious items. Some weights in this catalogue have been ascertained by way of measurement. This data is to be considered approximate and must not be considered as exact.
16. In addition to all other obligations and rights as contained in these Conditions of Sale, Aste Boetto may at its discretion, in the case that is informed or becomes aware of claims by third parties concerning the ownership, possession or holding of a lot, hold the lot in custody for the duration of the claim or for the time deemed necessary for the claim to be made.
17. These Conditions of Sale are automatically accepted by all those participating in the auction and are available upon request to any interested party.
Any dispute is to be under the jurisdiction of the court of Genoa.
18. Please note that any lots purchased via invaluable.com live auction service will be subject to an additional 5% commission charge at the rate imposed on the hammer price
