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1   By participating in the auction, the Buyer accepts the terms and conditions of the auction set forth without reservation.
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2 . 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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3 . 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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4 . 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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5 . 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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6 .

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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7 . 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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8 . 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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9 . 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.


Psatharis Auctions

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