AUCTION RULES
I. General Provisions
1. Galerie Arcimboldo conduct an auction of movable assets that have not been obtained through criminal means and that are not subject to the right of appropriation by state cultural institutions. The auction is held pursuant to an auction contract entered into by and between the Seller of the one part, and Galerie Arcimboldo of the other part. Pursuant to such contract on the artifact entrusted to Galerie Arcimboldo, Galerie Arcimboldo shall act on the Seller's behalf in accordance with auction rules applicable to all the parties involved.
2. Galerie Arcimboldo is entitled to decide whether would include the object offered by the Seller in the auction.
3. Objects designated as cultural monuments are marked with a "P" in the catalogue, and are subject to special rules pursuant to Act No. 20/1987 Coll., on State Monument Conservation, as amended.
4. The export of any and all objects of cultural value is subject to special rules pursuant to Act No. 71/1994 Coll., on the Sale and Export of Objects of Cultural Value. Pursuant to said acts, objects of cultural value are deemed to mean products of nature, human creations or sets thereof which are significant to history, literature, arts or sciences and which meet the criteria set out in Schedule 1 to the Act. Such objects may be taken out of the Czech Republic only with a certificate to the effect that they are not objects classified as cultural monuments or objects comprising a part of a body of objects classified as a cultural monument within the meaning of Act No. 20/1987 Coll., on State Monument Conservation, as amended.
5. Every bidder is obliged to register by law. Upon registration, the party automatically becomes a member of the Bidders Club of Galerie Arcimboldo. The data provided for registration purposes is confidential, and serves solely for the internal requirements of Galerie Arcimboldo. The data shall be treated in accordance with Czech legal regulations of general application and shall not be disclosed to third parties.
6. Galerie Arcimboldo shall register as a member of the Bidders Club any individual (or a legal entity represented by a statutory representative) who applies for membership. An individual needs to prove that he/she is over 18 years of age and possesses full legal capacity. At registration, Galerie Arcimboldo shall be authorized to request a valid identity card or passport. Legal entities may be required to present a current extract from the Commercial Register.
7. The bidder (or the Buyer) is a person who attempts to obtain the object on offer during the auction by bidding thereon.
8. The bidder must not be the owner of the object on offer, must not be intoxicated or act in gross violation of decent behavior during the auction; further, a person stripped in part or in full of his/her legal capacity by a final and enforceable court decision cannot bid. Further, a bidder who failed to deposit a bond, if applicable, or a bidder who had interfered with any auction held by Galerie Arcimboldo cannot bid, nor may anyone bid on such persons behalf.
9. A bidder may be represented by another bidder in the auction by virtue of a written power of attorney.
10. The seller is the person offering an object for sale (including its representative - other than a representative of Galerie Arcimboldo - executors or personal representatives).
11. The Winning Bidder is the person who places the highest bid or offers the highest price accepted by the Auctioneer. The Winning Bidder becomes obliged to pay the purchase price of the object won upon the strike of the gavel by the Auctioneer. Upon the strike of the gavel, the contract between the Winning Bidder and the Seller is thus concluded.
12. The Auctioneer is an individual authorized to take acts during the auction on behalf and for the account of Galerie Arcimboldo. The Auctioneer calls the auction to order, invites participants to bid, and announces the bids.
13. The purchase (auction) price is the highest bid accepted by the Auctioneer by a strike of the gavel, or the agreed purchase price in case of a post-auction sale. The purchase price is the price achieved in the auction plus a premium (the commission due to the auction house, including VAT).
II. Auction Rules and Course
1. An auction held by Galerie Arcimboldo is public. However, only members of the Bidders Club may take part in the auction. Every participant in the auction shall receive a number. Galerie Arcimboldo may stipulate that a bond be paid for the number, to be refunded upon the return of the number; the same may be returned within one hour of the completion of the auction of a specific object or the last object on auction. The bond cannot be refunded if the number is only returned later. Without an auction number, one cannot bid; the foregoing shall not apply if Galerie Arcimboldo bids on a client's behalf.
2. An auction may be attended by proxy, pursuant to a power of attorney. The bidder may bid on any item featured in the auction without having to be present at the auction, subject to the following conditions: a) the bidder must execute a written power of attorney for representation at an auction held by Galerie Arcimboldo, such power of attorney must bear the date, signature and residential address of the bidder; b) the bidder must specify the item(s) on which Galerie Arcimboldo is to bid on the bidder's behalf; c) the bidder must provide Galerie Arcimboldo with a separate bidding limit for each item.
3. The bidder may grant a power of attorney and present limits in person at Galerie Arcimboldo, or in writing by fax and email.
4. The bidder may further take part in the auction by telephone bidding subject to prior written agreement. The deadline for the stipulation of limits and requests for telephone bidding is the day preceding the day of the auction proper.
5. Objects to be sold in any auction held by Galerie Arcimboldo are presented in the auction catalogue and the website of Galerie Arcimboldo - www.arcimboldo.cz. Further, they shall be displayed for a minimum of three days prior to the beginning of the auction on exhibition premises procured by Galerie Arcimboldo. The objects on auction are designated and described, including the minimum bids (initial price) on the website of Galerie Arcimboldo - www.arcimboldo.cz, and in this catalogue, of which the auction rules are an integral part. The objects shall be auctioned in the sequence given in the catalogue.
6. The first round of the live auction commences on the day and at the time stipulated in the auction catalogue, and further proceeds in accordance with the information provided therein.
7. Each of the items on auction is announced by the Auctioneer who provides all the pertinent information, including the current price of the object being auctioned.
8. The person authorized to conduct the auction (the Auctioneer) decides on the sequence of bids. When an item is announced, the bidders bid by raising their numbers. The auction of the object continues while bidders place bids. Bids are deemed to mean the minimum increments stipulated by Galerie Arcimboldo. Bidders may also place bids orally; however, such oral bids must be higher than the Minimum Bidding Increments listed below.
Minimum Bidding Increments:
a) CZK 100 if the current bidding price is less than CZK 5,000
b) CZK 500 if the current bidding price is at least CZK 5,000 but less than CZK 10,000
c) CZK 1,000 if the current bidding price is at least CZK 10,000 but less than CZK 20,000
d) CZK 2,000 if the current bidding price is at least CZK 20,000 but less than CZK 50,000
e) CZK 5,000 if the current bidding price is at least CZK 50,000 but less than CZK 100,000
f) CZK 10,000 if the current bidding price is at least CZK 100,000 but less than CZK 500,000
g) CZK 50,000 if the current bidding price is at least CZK 500,000 but less than CZK 1,000,000
h) CZK 100,000 if the current bidding price is at least CZK 1,000,000 but less than CZK 10,000,000
i) CZK 500,000 if the current bidding price is CZK 10,000,000 or more
9. The resultant price, including a premium, is rounded up to the nearest CZK 50.
10. Any sale of objects after the auction shall be subject to the same rules as if sold in the auction.
11. Any bidders who fail to comply with the auction rules shall be excluded from the auction.
III. Terms of Payment
1. The object on offer is sold to the bidder offering the highest bid (the Winning Bidder). The Winning Bidder shall become entitled to the object won upon payment of the total amount due to Galerie Arcimboldo in connection with the auction and these auction rules. For the purposes of these auction rules, the total amount due is deemed to mean the sum of the price of the object, the auction premium plus applicable VAT, storage fees and other fees charged in accordance with these rules. The Winning Bidder shall be obliged to observe the process of payment for the object won as stipulated in the Galerie Arcimboldo rules. The Winning Bidder shall be charged a premium of 20%, incl. statutory VAT, on top of the winning bid. The payment receipt forms a part of evidence of payment of the purchase (bid) price.
2. On request, Galerie Arcimboldo shall issue to the Winning Bidder a special certificate of acquisition of title to the object on auction. Such written certificate shall contain a designation of the object, i.e., the number under which it was auctioned, identification of the Winning Bidder and the Winning Bidder's number, the name of Galerie Arcimboldo from which the object was acquired, a brief description of the object, the purchase price, auction date, stamp and signature of an authorized staff member of Galerie Arcimboldo. The certificate shall include a receipt showing the date and method of payment of the bid price. Where the object is a culturally valuable object, Galerie Acimboldo shall further issue a certificate within the meaning of Act No. 71/1994 Coll.
3. Any objections to a winning bid must be made by the Bidder right at the auction hall, in an audible or visible manner. Objections raised at the time of payment cannot be taken into consideration. No complaints can be made with respect to goods won from Galerie Arcimboldo; the description of the exhibits merely declares the external visual properties thereof, rather than origin. Complaints with respect to goods won pursuant to a power of attorney granted to Galerie Arcimboldo can be raised at the time of collection at the latest.
4. Title to an object won in the auction shall only pass to the Winning Bidder upon receipt by Galerie Arcimboldo of payment for the object.
5. If so agreed with Galerie Arcimboldo, payment may further be made within 14 days from the auction's end. Payment for the object may be effected as follows:
a/ by transfer into the account of Galerie Arcimboldo maintained by Raiffeisenbank, Prague 6, account No. 4310085001/5500
b/ in cash
c/ by credit card (VISA, MASTER CARD, AMERICAN EXPRESS) - in this case a 3% fee from the total amount including VAT will apply.
5. Exporting the object: any export or import licenses, gun license, endangered species permit or any other permits with respect to the object on auction are the sole responsibility of the Buyer (Winning Bidder). Neither Galerie Arcimboldo nor the Seller shall be obliged to make any representations and warranties as to whether the object on auction is subject to any export or import restrictions or any embargos. Rejection of a permit or license application shall not serve as grounds for termination of or withdrawal from the purchase agreement or payment default.
6. When an object of cultural value, designated with a "P", is auctioned off and purchased, Galerie Arcimboldo is obliged to provide the Ministry of Culture of the Czech Republic or other body of competent jurisdiction with information on the Winning Bidder and the object won at auction. The Winning Bidder is also obliged to contact such body of competent jurisdiction and satisfy the requirements applicable to the purchase of an object of cultural value.
7. Items bought at auction and paid for are stored free of charge for 5 days from the auction's end, unless agreed otherwise; afterwards, a storage charge of 1% of the purchase price per day shall be charged, unless agreed otherwise. The Winning Bidder bears the risks associated with the items bought at auction and paid for, and is thus solely obliged to make arrangements for their insurance upon the elapse of the 5-day term for collection.
8. If an object bought at auction is paid for but not collected within six months from the auction's end, the Winning Bidder hereby authorizes Galerie Arcimboldo to resell the object in an auction or by a private sale, with estimates and reserve prices set at the discretion of Galerie Arcimboldo. The proceeds from the sale shall forfeit to Galerie Arcimboldo.
IV. Rights of Galerie Arcimboldo in Case of Non-Payment for an Item Bought in Auction
1. In the event that the Winning Bidder does not pay for an object bought at auction within seven days from the auction's end, unless agreed otherwise, Galerie Arcimboldo may, at their discretion (and having informed the Seller) store the said object on their premises or elsewhere at the sole risk and expense of the Winning Bidder, or cancel the sale of the object bought at auction or reject future bids of the Buyer (Winning Bidder).
2. Further, it may exercise a pledge over any assets of the Winning Bidder in the possession of Galerie Arcimboldo. Galerie Arcimboldo shall advise the Winning Bidder of the exercise of such pledge, and within 14 days of such notice, it may cause such assets to be sold and apply the proceeds from the sale to pay the amount owing to Galerie Arcimboldo.
3. Galerie Arcimboldo may also resell the object in an auction or by a private sale, with estimates and reserve prices set at the sole discretion of Galerie Arcimboldo. In the event of a further sale for an amount lower than the original winning bid, the Winning Bidder shall remain liable for the deficit so incurred, together with any and all costs incidental to the resale.
4. Galerie Arcimboldo may further take legal action in order to collect the winning bid for the object from the Winning Bidder, together with interest and costs of such action, under a full indemnity.
V. Obligations of the Seller and Galerie Arcimboldo with Respect to Items on Auction
1. The knowledge of Galerie Arcimboldo in relation to every object partly depends on information provided by the Seller, and Galerie Arcimboldo is unable to conduct, and does not conduct, an exhaustive investigation with respect to every object. The Seller recognizes this fact, and assumes liability for inspections and investigations so as to satisfy the need for information on items on auction. The Winning Bidder may request an expert opinion. Galerie Arcimboldo may commission such expert opinion at the Winning Bidder's request and for consideration.
2. Information provided to the Buyer with respect to any item on auction, including an estimate, whether in writing or orally, including information in the catalogue, does not represent any statement of fact but rather the opinion of Galerie Arcimboldo. One must not rely on any estimate as a prediction of the sales price or value of the object on auction. Galerie Arcimboldo may review the same from time to time at its discretion.
3. Every item offered at auction at Galerie Arcimboldo can be viewed on display prior to the sale. Galerie Arcimboldo shall accept bids on the items on auction solely on the presumption that the Buyer duly examined the item before placing a bid, and is satisfied with the condition of the item and the accuracy of its description.
4. The Buyer (Winning Bidder) is aware of the fact that many of the items on auction are not in mint condition. Information on the condition of the items on auction is provided in the auction catalogue but the Buyer (Winning Bidder) must be aware that a description cannot replace a visual impression, or that the details of the item on auction may not be contained in the catalogue or the report on the item's condition. Photographs in the catalogue and on the website serve for identification only, and do not provide complete information on the actual condition of the item on auction.
5. Neither Galerie Arcimboldo nor the Seller make any representations or guarantees as to whether any object on auction is subject to copyright or whether the Buyer (Winning Bidder) obtains copyright to any object on auction.
VI. Post-Auction Rules, Liability to the Winning Bidder
1. With a view to information provided by the Seller, Galerie Arcimboldo does not bear any liability for errors or omissions with respect to information provided to the Buyer.
2. Any claim made by the Buyer (Winning Bidder) against Galerie Arcimboldo or the Seller shall be limited to the purchase price of the item in question. Neither Galerie Arcimboldo nor the Seller shall be liable for any consequential damages under any circumstances.
VII. General Provisions
1. Any and all photographs and other materials created for the auction shall be protected by copyright of Galerie Arcimboldo, and are intended solely for its use.
2. In the event that any provision of these auction rules and business terms and conditions is found to be unenforceable for any reason, the balance of the provisions shall remain in full force and effect.
3. These business terms and conditions cannot be assigned by any Buyer (Winning Bidder) without the prior written consent of Galerie Arcimboldo but shall be binding on the successors, assigns and representatives of the Buyer (Winning Bidder).
VIII. Personal Data Protection
1. In connection with the provision of services, Galerie Arcimboldo may request personal data or obtain clients personal data from third parties (e.g., information regarding a client's credibility) in accordance with the law. If the client does provide Galerie Arcimboldo with information defined by law as "sensitive", it further consents to Galerie Arcimboldo using the same for the above-described purposes. Galerie Arcimboldo shall not use or process any sensitive information for any other purpose without the client's express consent.
2. Galerie Arcimboldo may disclose personal data to third parties (e.g., carriers) in order to provide services requested by the client. Some countries do not offer legal protection of personal data equivalent to that afforded to personal data within the European Union. Galerie Arcimboldo requests that any such third party respect the privacy and confidentiality of clients personal data.
3. For the sake of security, the premises of Galerie Arcimboldo are covered by CCTVC, and telephone conversations, e.g., bidding by phone or voicemail messages, may be recorded as well. All of the above steps are to guarantee the best possible protection of sensitive data of clients of Galerie Arcimboldo, as well as a due and proper course of the auction.
IX. Legal Order and Jurisdiction
1. These auction rules and business terms and conditions, as well as any and all aspects of matters, transactions or disputes to which they relate or apply, shall be governed by and interpreted pursuant to the laws of the Czech Republic.
2. Galerie Arcimboldo, as well as the Seller, Buyer and Winning Bidder consent to exclusive jurisdiction of Czech courts for the resolution of any disputes arising in connection with any and all aspects of matters or transactions to which these business terms and conditions relate or apply. All the parties hereto agree with the fact that Galerie Arcimboldo reserves the right to bring action before any courts other than Czech courts.
3. Each of the Buyers, Winning Bidder and Sellers hereby consent to the delivery of summons or any other documents related to any judicial proceeding by fax transmission, by hand, post or in any other manner permitted by Czech law, the laws of the place of delivery or any jurisdiction where such action is brought, with delivery to be made to the last address of the Buyer or Seller known to Galerie Arcimboldo.
