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CONDITIONS
OF SALE |
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By
participating in the auction, the Buyer accepts the
terms and conditions of the auction set forth without
reservation. |
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The
Auctioneer always acts on behalf of the seller. The
Auctioneer directs and decides on the consecutive
biddings for each lot, has the right to refuse bids
smaller or higher than those he proposed by him. |
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The
Auctioneer at his discretion has the right to refuse
entry or participation in the auction of any individual
as well as the right to withdraw from the auction at any
time any lot. |
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A Buyer is
considered to be the bidder who accepts the highest
price offered by the Auctioneer and to whom the
Auctioneer close the lot on. Offers from persons not
attending the sale are accepted by the Auctioneer either
in writing or by telephone during the conduct of the
auction and under the condition that the bidder’s
personal information as completed in the “Written Offer”
from are accurate and correct at least 24 hours prior to
the start of the sale. |
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Each work
is sold “as is”. The Auctioneer and his agent /
associates bear no responsibility for any possible
defects, imperfections, damages or wear and tear on a
work. All statements made in the catalogue as to the
provenance, dating, authenticity and estimate of a work
are to the best of knowledge and does not imply or
create ultimate responsibility for the Auctioneer or his
agents / associates. A Buyer has the right to return a
work within three (3) years of its purchase if it can be
reasonably proved that it is a counterfeit or fake. In
such case, the Auctioneer agrees to return to the buyer
the amount paid (including commission and VAT).
Conditions of accepting the work are that it has not
been resold to a third party, it is the same condition
as it was when it was originally purchased from the
Auctioneer, and there are no notes or mentions in the
auction catalogue disputing its authenticity. |
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Each work
is considered in good faith by the Auctioneer to be the
property and ownership of the seller, who in turn
guarantees that the work is free from any legal claim or
demands by others. The works
can be collected once payment in full is settled from
the sales office beginning the day after the auction.
The buyer is required to settle his account and collect
his purchase within seven days of the auction. |
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In the
event the buyer refuses or is unable to settle his
accounts and collect his purchase within 30days of the
auction date, the Auctioneer has the right to a)
initiate legal action against the buyer demanding
payment in full, b) dispose of the work through a
private sale or auction, and c) demand compensation for
any damages incurred due to the buyer’s inability to
fulfill his obligations. |
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For all sales the following
rates of Buyers Premium will be payable by Buyers of
Lots:
15% from
€0
to
€25.000
of the Hammer Price
10% from
€25.001
to
€50.000
of the Hammer Price
5% from
€50.001
and above.
All the sums payable to us by the Buyer are subject to 19%
VAT.
In
accordance with the Cyprus Law of 1976 till 2020
relation to the Artists΄ Resale Rights (artists that are
alive or have died in the last seventy years), on the
Hammer Price charged with the rate 4% from €1 - 50.000.
This rate is divided as follows: Seller (the Person
offering a lot for sale) 2% and the Buyer 2%. 19% VAT is
added in this amount. |
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For lots with
symbol (*)
19% VAT
is added on the
hummer price ONLY. Please see paragraph 12 of the
terms of the auction at the end of the
printed catalogue. |
