Terms and Conditions of Sale
Soweto Fine Art Gallery
Buyer's Premium
US$1 - $250,000: 25.00%
US$250,001 - $3,000,000: 20.00%
US$3,000,001+: 12.50%
CONDITIONS OF SALE AND ONLINE BIDDING TERMS AND CONDITIONS
The following terms and conditions constitute Soweto Fine Art (Pty) Limited's (hereinafter referred to as "Soweto Fine Art Gallery") and the Consignor's entire agreement with the purchaser and any bidders relative to the goods listed in this catalogue.
These terms and conditions are supplemental to Invaluable's terms and conditions, which terms and conditions are hereby incorporated by reference and are applicable to all bidders and buyers participating in this sale.
These terms and conditions, any other document incorporated by reference herein and the contents of this catalogue are subject to amendment by us by the posting of notices or by oral announcements made during the sale. The Lots will be offered by us as agent for the Consignor, unless the catalogue indicates otherwise.
By registering and participating in any sale, you expressly agree and acknowledge that you are bound by following terms and conditions:
1. Description and Inspection of Lot
All representations or statements made by Soweto Fine Art Gallery in the catalogue or other publication or report, as to the authorship, origin, date, age, size, medium, attribution, genuineness, provenance, condition or estimated selling price of the Lot, are a statement of opinion only. The Purchaser agrees that Soweto Fine Art Gallery shall not be liable for any errors or omissions in the catalogue or any supplementary material produced by Soweto Fine Art Gallery.
All photographic representations and other images presented are solely for guidance and are not to be relied upon in terms of tone or colour or necessarily to reveal any imperfections in the Lot. Many Lots are of an age or nature which precludes their being in pristine condition. Some descriptions in the catalogue or given by way of condition report make reference to damage and/or restoration. Such information is given for guidance only and the absence of such a reference does not imply that a Lot is free from defects, nor does any reference to a particular defect imply the absence of others. The condition of a Lot is determined by taking into account inter alia, the origin, materials and age of the lot and all Lots offered for auction are sold "as is". Unless otherwise indicated in the description of a Lot, all works of art listed in the catalogue are unframed.
Each lot is given a low and high estimate, indicating to a prospective buyer a range in which the lot may sell at auction. The estimate is based on previous auction records of comparable pieces as well as current market trends and conditions. Estimates should not be relied upon as a representation or prediction of actual selling prices.
For additional information not included in the catalogue description of a lot, please contact our specialist, Martin G Britz, at +27 78 310 6065 or email him at martingbritz@gmail.com.
Prospective bidders should inspect the Lot either personally or through their duly authorised representative before bidding to determine the condition, size and whether the purchaser acquires any reproductive rights in the Lot. It is the sole responsibility of the Purchaser to satisfy himself as to the matters referred to in this paragraph by inspection or otherwise prior to the sale of the Lot. We and the Consignor are not responsible for errors and omissions in the catalogue, glossary, or any supplemental material. Soweto Fine Art Gallery shall not be responsible or liable for damage to frames and glass coverings, regardless of the cause.
We reserve the right to withdraw any Lot before the sale and shall have no liability whatsoever for such withdrawal.
2. Buyer's Premium
A buyer's premium will be added to the hammer price and is payable by the purchaser as part of the total purchase price. The buyer's premium is calculated at the following rates:
US$1 - $250,000: 25.00%
US$250,001 - $3,000,000: 20.00%
US$3,000,001+: 12.50%
3. Bidding
All bids are per Lot as numbered in the catalogue and exclude the buyer's premium referred to in clause 2 above.
We reserve the right to reject any bid. The highest bidder acknowledged by Soweto Fine Art Gallery will be the buyer. Soweto Fine Art Gallery has absolute and sole discretion in the case of error or dispute with respect to bidding, and whether during or after the sale, to determine the successful bidder, to re-open the bidding, to cancel the sale or to re-offer and re-sell the item in dispute. If any dispute arises after the sale, our sale record shall be regarded as conclusive. In our discretion, we will execute order or absentee bids and accept telephone bids and online bids via Invaluable or other online platforms as a convenience to clients who are not present at auctions and Soweto Fine Art Gallery is not responsible for any errors or omissions in connection therewith. Prospective bidders should also consult Invaluable.com for the most up to date cataloguing of the goods in this catalogue.
By participating in the sale, you represent and warrant that any bids placed by you, or on your behalf, are not the product of any collusive or other anti-competitive agreement.
Soweto Fine Art Gallery may require such necessary financial references, guarantees, deposits and/or such other security, in its absolute discretion may determine, as security for your bid(s).
Should we determine that any opening bid is below the reserve of the article offered, we may reject the same and withdraw the article from sale, and if, having acknowledged an opening bid, we determine that any advance thereafter is insufficient, we may reject the advance.
If it is not possible for you to attend a live auction in person, you may place your bid ahead of time by completing and returning to us an absentee bid form 48 hours prior to the closing date of the auction. Please email martingbritz@gmail.com at least 72 hours prior to the closing date of the auction requesting an absentee bid form which you can use to indicate the item(s) you wish to bid on and the maximum bid you are willing to make. When the lot that you are interested in comes up for sale, a Soweto Fine Art Gallery representative will execute the bid on your behalf, making every effort to purchase the item for as little as possible and never exceeding your bid limit. This service is free and confidential.
We offer the service on live auctions to place bids by telephone live to a Soweto Fine Art Gallery representative on the auction floor. Please contact Martin G Britz by email (martingbritz@gmail.com) or by telephone (+27 76 310 6065) at least 24 hours prior to the closing date of the sale to make arrangements to register for telephonic bidding. Telephone bids are accepted at Soweto Fine Art Gallery's discretion and are at the caller's risk.
4. Payment
On the fall of the auctioneer's hammer, the contract between the consignor and the buyer is concluded, and the winning bidder thereupon will immediately pay the full purchase price together with the Buyer's Premium to Soweto Fine Art Gallery. The buyer's obligation to immediately pay the full purchase price is absolute and unconditional and is not subject to any defenses, setoffs or counterclaims of any kind whatsoever. The title to a Lot shall not pass to the buyer until such time as all amounts due and payable by the buyer reflect in our bank account as cleared effects.
Soweto Fine Art Galley shall not be obliged to release any lot to the buyer until title to the lot has passed. In addition to other remedies available to us by law, we reserve the right to impose from the date of sale a late payment penalty calculated at an annual percentage rate of Prime + 6% of the total purchase price if payment is not made in accordance with the conditions set forth herein.
Soweto Fine Art Gallery hereby reserves the right to refuse to accept payment from a source other than the registered buyer.
All payments shall be made into Soweto Fine Art Gallery's nominated account by cash, Bank Draft, Visa, Mastercard, American Express or Debit card within 48 hours of the fall of the auctioneer's hammer unless otherwise arranged and agreed in advance and in writing between the buyer and Soweto Fine Art Gallery.
Should the buyer fail to pay for any Lot within 48 (forty eight) hours from the fall of the auctioneer's hammer, Soweto Fine Art Gallery shall in its absolute discretion be entitled to one or more of the following remedies without providing further notice to the buyer and without prejudice to any other rights or remedies that Soweto Fine Art Gallery may have:
4.1 Issue judicial proceedings against the buyer for damages for breach of contract together with the costs of such proceedings;
4.2 Resell by auction or private treaty any of the Lots affected and in such case the original buyer shall be responsible to Soweto Fine Art Gallery for any deficiency in price between the resale amount and the amount to have been paid by the original buyer;
4,3 Any reasonable charge by Soweto Fine Art Gallery for the storage of such articles until payment and removal by the subsequent buyer; and,
4.4 The amount of commission which Soweto Fine Art Gallery would have earned had payment been made in full by the original buyer.
5. Storage
All Lots, unless agreed in writing between the buyer and Soweto Fine Art Gallery must be removed from our premises by the buyer at their expense no later than 14 (fourteen)calendar days following the closing date of the auction sale. If not removed within the aforesaid time period, a storage charge of $25 per Lot, per day, until removal of the Lot will be payable at the time of removal to Soweto Fine Art Gallery by the buyer. If after thirty (30) days no arrangements with have been made with us by the buyer, the Lots will be considered abandoned and without prejudice to our rights set out in paragraph 4 above, may be sold as determined solely by Soweto Fine Art Gallery in order to settle outstanding charges.
Soweto Fine Art Gallery's liability for loss or damage to sold Lots in our possession shall cease 14 calendar days after the date closing of the auction from which date the buyer shall become responsible for insuring the Lots at his sole expense.
6. Reserve
All lots in this catalogue are offered subject to a reserve, which is the confidential minimum hammer price at which a lot will be sold. No reserve will exceed the low presale estimate stated in the catalogue, or as amended by oral or posted notices. We may implement such reserve by opening the bidding on behalf of the Consignor and may bid up to the amount of the reserve, by placing successive or consecutive bids for a lot, or bids in response to other bidders. In instances where we have an interest in the lot other than our commission, we may bid up to the reserve to protect such interest. In certain instances, the Consignor may pay us less than the standard commission rate where a lot is "bought-in" to protect its reserve.
7. Tax
Unless exempted by law, the buyer will be required to pay all taxes and duties applicable to any Lot.
8. Export and Permits
It is the purchaser's sole responsibility to identify and obtain any necessary export, import, firearm, endangered species or other permit for the lot. Soweto Fine Art Gallery and the Consignor make no representations or warranties as to whether any lot is or is not subject to export or import restrictions or any embargoes.
9. Packing and Shipping
We offer a comprehensive shipping service to meet all of your requirements. If you received a shipping quotation or have any questions about the services we offer please contact us.
We are not responsible for the acts or omissions in our packing or shipping of lots or of other carriers or packers of purchased lots, whether or not recommended by us. Packing, handling and shipping of purchased lots is at the sole risk of the purchaser.
Unless otherwise provided for herein, insurance of purchased lots shall be arranged by the buyer at his sole expense from time of dispatch of the purchased lots from our premises to the buyer.
If you are using your own shipper to collect property from ourselves, we will require a letter of authorization from you authorizing us to release your goods to your shipper. Please instruct your shipper to provide us with a Bill of Lading prior to collection. The Bill of Lading must include: the purchaser's full name, the full delivery address including the street name and number, city and state or city and country, the sale and lot number.
Both of these documents must be emailed to martingbritz@gmail.com prior to collection. Within 24 hours of receipt of the Bill of Lading we will contact the local office of your shipper to confirm the date and time that your property can be collected. Property will not be released without this confirmation and your shipper must bring the same Bill of Lading that was emailed to ourselves when collecting. All property releases are subject to the receipt of cleared funds.
Items requiring specialized packaging may incur a packaging fee. Please check with us prior to bidding if specialized packing will be required for any of the Lots that you may be interested in.
10. Limitation of Liability
In no event will our liability to a purchaser exceed the purchase price actually paid.
11. Governing Law and Jurisdiction
These Conditions of Sale and Terms of Guarantee, as well as bidders', the purchaser's and our respective rights and obligations hereunder, shall be governed by and construed and enforced in accordance with the laws of the South Africa. By bidding at an auction, whether present in person or by agent, order bid, telephone, online or other means, all bidders including the purchaser, shall be deemed to have consented to the exclusive jurisdiction of the courts of South Africa. Notwithstanding the aforegoing all parties agree, however, that Soweto Fine Art Gallery shall retain the right to bring proceedings in a court other than the courts of South Africa should Soweto Fine Art Gallery in its sole discretion so determine.
© Soweto Fine Art Gallery (Pty) Ltd
