GENERAL TERMS & CONDITIONS
GENERAL TERMS & CONDITIONS
The buyer will pay to the order of Monaco Legend Group, in addition to the hammer price, a buyer's premium of:
Up to 1.000.000 €: 30% VAT inc. (24% VAT excl.).
More than 1.000.001 €: 24%TTC. (20% HT).
Lots marked with * : A 20 % import VAT is due on the final price including premium, only if it is delivered within the EU.
LAW AND JURISDICTION
These general terms & conditions, and all that relates to the sale are governed by Monégasque law and, in particular, by Law No. 1014 of 29 December 1978 concerning public auctions of furniture. Any dispute regarding the existence, validity, and enforceability for any bidder or buyer falls under the exclusive jurisdiction of the courts of the Principality of Monaco.
VAT FOR NON-EUROPEAN BUYERS
Non-European buyers will directly receive the invoice excluding VAT under certain conditions: the item(s) must have been shipped outside of Europe within a delay of 3 months from the date of the sale and Monaco Legend Group must appear as a shipper on the export document and the buyer as the consignee. The exportation has to be done within the legal delays and a maximum of 3 months of the date of the sale.
CURRENCY CONVERSION
Auctions are conducted in euro in Monaco. A currency conversion board is made available in the saleroom and online, indicating approximate exchange rates for various major currencies.
INDICATIVE NATURE OF THE ESTIMATES
Estimates are listed for each lot and are an indication of the price range the lot is expected to fetch. Estimates do not include the buyer's premium or sales tax.
NO RESERVE
Unless the no reserve lots, all lots in the catalogue are offered subject to a reserve. This is a confidential value established between Monaco Legend Group and the seller.
CONDITION OF THE LOTS
Lot descriptions provide technical data carefully compiled by our experts for each lot in the sale and are often enhanced by historical or biographical comments.
Auction catalogue can be viewed online on www.monacolegendauctions.com
We are at your disposal to provide you a detailed report on the conditions of the lots.
All lots are sold in the condition in which they were offered for sale with all their imperfections and defects. Dimensions, colors and weight of the products are provided for information purposes only and are not binding.
No claim can be accepted for minor restoration or small damages. It is the responsibility of each prospective bidder to inspect each lot prior to the sale and to rely on their own judgment to acquaint with the characteristics and the potential repairs or restorations. No claim can be considered once the auction is pronounced.
Restored or repainted dials regarded as protective measures and not as vices will not be reported. The conditions of the bracelets and the water resistance of the screwed-back watches are not guaranteed, and neither are the deployment clasps and tang buckles. It is important to note most of the waterproof watches have been opened to identify the type and quality of the movement.
There is no guarantee the watches are still resistant to water and it is recommended to consult your watchmaker before using the item.
Dimensions are provided for information purposes only.
Absence of any indication of the existence of restoration work or of an accident by no means exempt the jewelry from having a defect.
Precious and semi-precious stones may have been subject to treatments with the intention to showcase them. (i.e.: oil treatment of emeralds, heat treatment for rubies and sapphires, whitening of pearls).
These treatments are traditional and accepted by the jewels international market.
Considering the rise of new treatments, the stones submitted to the auction with no certificates will be sold without guarantees about the treatment.
It shall be stated that the origin of the stones and their quality (color and purity of the diamonds) reflect the opinion of the laboratory issuing the certificate. No claim will be accepted in case another laboratory gives another opinion, and will in no way engage the responsibility of the auctioneer and expert.
The jewelry advertised in our catalogue as yellow-gold or white-gold with no hallmark are always in gold 18K, that is 750‰ - Gold 14K: 585‰ - Gold 9k: 375‰.
Relining, inlay work and varnishing are considered a protective measure and not a vice, they will not be reported.
AUCTION PREVIEWS
Previews are conducted by Monaco Legend Group prior to each auction and details of these exhibitions are found at the beginning of the catalogue or online. Previews are open to the public and prospective buyers are encouraged to view and examine lots offered for sale prior to making their purchases. Our specialists are available to give advice and Condition Report.
REGISTERING TO BID IN THE AUCTION
Before you can bid, you will need to register for the auction.
Regardless of the means by which you participate in the auction: Bidding in person, by telephone, online or absentee bids, the following documents must be provided in order to validate the registration request :
Full contact details
Proof of ID in the form government-issued photo ID
Financial reference : bank transfer and/or deposit as a condition of allowing you to bid
Copy of the company register for a company
New clients are encouraged to register 48 hours in advance of a sale to allow sufficient time for your information to be processed.
BIDDING IN THE SALEROOM [IN PERSON]
You can register in advance or directly at the auction venue up to 2 hours before the start of the sale. Bidders are advised to have the auction catalogue to hand during the sale for reference.
ABSENTEE BIDDING [WRITTEN BIDS]
If you are unable to bid in person at the auction, you can submit an absentee bid (written bid). Absentee bid form can be found in the auction catalogue, on our website (monacolegendauctions.com) or can be requested to Monaco Legend Group. Absentee bids will be processed on your behalf at auction by Monaco Legend Group staff. Monaco Legend Group staff will execute the bids at the lowest possible price, taking into account the reserve and other bids. Always indicate your absentee bid excluding the buyer's premium and VAT.
This service is free of charge.
Bids submitted in a foreign currency will be converted to euro using the exchange rate on the day of the sale.
Monaco Legend Group cannot be held responsible for errors, omissions or late-arriving bids. In the event that two identical bids are received, the first bid received by Monaco Legend Group will take precedence. It is very important that the bidder lists a daytime telephone number in case any part of the bid form is unclear.
Please note that all absentee bid cancellations must be received in writing before the start of the auction.
TELEPHONE BIDS
You may also participate in Monaco Legend Group auctions by telephone. This service is free of charge and telephone bids will be executed by a Monaco Legend Group staff member in the saleroom. All telephone bids must be confirmed in writing on a completed telephone bid form. Telephone bid form can be found in the auction catalogue, on our website (monacolegendauctions.com) or can be requested to Monaco Legend Group. Please provide the telephone number(s) at which you can be reached during the sale. Monaco Legend Group will call you during the auction approximately 3 to 10 lots before the lot(s) on which you wish to bid. Language assistance for telephone bidding is available in English, French, Italian and Chinese.
Please note that all telephone bid cancellations must be received in writing. clients are advised to make arrangements for telephone bids at least one day before the sale.
ONLINE BIDDING WITH INVALUABLE
Invaluable platform have live-streaming video of the auction accessible from a computer or a mobile device. You can bid before and during the sale from anywhere in the world. From a mobile device on iOS or Android, you might have to download an App in order to place a bid. Users will need to have an account created on the platform of their choice and being approved for the auction in order to place bid. See "Registering to bid in the auction". To create an account, please visit invaluable.com. New clients should create an account at least 48 hours in advance of the sale.
AUCTION PROCESS
Lots offered for sale are auctioned in numerical order as they appear in the catalogue. The lot being auctioned is announced by the auctioneer, as well as shown live or illustrated on a screen at the front of the saleroom.
SUCCESSFUL BIDS
When the auctioneer's hammer falls, the final bid has been reached and the auctioneer will record the bidder's paddle number, or the absentee bid number. If your bids have been successful, you will be notified by means of an invoice sent by e-mail. You are also welcome to call Monaco Legend Group the day after the auction to request the outcome of your bids.
RESULTS OF THE SALE
If you would like to know the result of your absentee bids, please contact:
Monaco Legend Group: +377 97 77 53 35
PAYMENT
Payment is due immediately after the sale.
Payment may be made by the following methods:
Cash in euros up to € 29,999
Credit cards VISA or MASTERCARD
Bank transfers to Monaco Legend Group
COLLECTION OF PURCHASES
Purchases can only be collected after payment. All lots can be collected immediately after the session upon presentation of written consent from the Accounting Department of Monaco Legend Group. We recommend the buyers to take delivery of their lots after the sale.
PREEMPTION RIGHT
The Monaco state in entitled to use a right of pre-emption on works of art. In accordance with the laws in force in Article 2-1 of the Law No. 1014 of 29 December 1978 concerning public sales of furniture. The use of this right comes immediately after the hammer stroke, the representative of the State expressing then the intention of the State to substitute for the last bidder, provided he confirms the pre-emption decision within fifteen days. In the absence of confirmation at the end of this period, the object will return to the highest bidder Monaco Legend Group SAM will not bear any liability/responsibility for the conditions of pre-emption by the State of Monaco.
IMPORT/EXPORT RESTRICTIONS AND TAXES
Buyers are advised that we will remove bands made of materials derived from endangered or otherwise protected species (i.e. alligator, caiman, lizard, snake...) prior to shipping lots abroad. Buyers are responsible for compliance with any applicable export and import regulations. Moreover certain items made of tortoiseshell, ivory may be subject to importation restrictions in certain countries.
Please consult your local customs authority for information on importing items made of these materials. The Buyer is responsible for the payment of all applicable import and export duties and taxes related to the lots purchased.
CITES REGULATIONS
The documents provided by the study "Monaco Legend Group" for the CITES articles of the species listed in the annexes A, B or C of the regulation CE338/97 are only valid in the EU. All the exits to a third country shall be subject to an exportation or re-exportation permit granted by the CITES Management Authority. In the buyer's country of residence. We advise you to approach the CITES Management Authority of the country of destination to obtain confirmation of the possibility of importing such articles. Some countries can prohibit the issuing of the documents according to their own specific legislation. These actions have to be taken by the buyer and at their own expense. Contact Monaco Legend Group for more information.
PROTECTION OF CULTURAL PROPERTY
Monaco Legend Group SAM follows a policy to prevent the sale of looted or stolen cultural property.
SHIPPING AND INSURANCE
It will be shipped directly to their location as per buyer's instructions, with Ferrari Logistiques SAM, Monaco.
Please note that buyers are responsible for all shipping fees and any other applicable fees including value-added tax, customs duties, etc. for the importation to their respective countries.
Monaco Legend Group is not responsible for shipping clocks, furniture, voluminous and/or fragile items
MONACO LEGEND GROUP BANK DETAIL
(payment in euros only)
Account: SAM MONACO LEGEND GROUP
Bank: BPMED MONACO ENTREPRISES
IBAN: MC58 1460 7007 6460 9218 9452 273
BIC: CCBPMCM1XXX
Account N°: 60921894522
Premium
For Jewels and Watches, the buyer will pay to the order of Monaco Legend Group, in addition to the hammer price, a buyer's premium of :
Up to 1.000.000 €: 30% VAT inc. (24% VAT excl.).
More than 1.000.001 €: 24%TTC. (20% HT).
Artworks are submitted to a fix premium of 30% TTC. (25% HT).
The lots marked with a * are liable to the relevant import VAT:
›› 20% of the additional charge for the watches and jewels.
›› 5.5% of the additional charge for the artworks.
Contrat
Conditions de vente
Comme indiqué ci-dessus, la vente aux enchères est régie par les règles rant dans ce catalogue.
Quiconque a l'intention d'enchérir doit lire attentivement ces conditions.
Elles peuvent être modifliées salle des ventes ou par annonces faites par la personne habilitée à diriger la vente.
Accès aux lots pendant la vente Par mesure de sécurité, l'accès aux lots sera interdit pendant la vente.
Déroulement de la vente L'ordre du catalogue sera suivi pendant la vente.
Les enchères commencent et se poursuivent avec la personne habilitée à diriger.
Celle-ci se réservant le droit d'enchérir de manière successive ou en réponse à d'autres enchères, et ce au nom et pour le compte du vendeur à concurrence du prix de réserve.
BUYER'S PREMIUM
The buyer will pay to the order of Monaco Legend Group, in addition to the hammer price, a buyer's premium of:
Up to 1.000.000 €: 30% VAT inc. (24% VAT excl.).
More than 1.000.001 €: 24%TTC. (20% HT).
Lots marked with * : A 20 % import VAT is due on the final price including premium, only if it is delivered within the EU.
