Modern and Contemporary Art - Auction 1186

These terms and conditions govern the use of the website and the Contractual Conditions of ART BID OPTION, LDA., Headquartered at Av. Do Brasil 192C - 1700-078 Lisbon, Portugal, hereinafter referred to as ARTBID. ARTBID is the entity responsible for the security of personal data that enables us, collects and processes information about the customers / users of this website for commercial and informational purposes, to provide you with new products and services that may be of interest to you and to develop statistics web. The information you provide will be used to contact you whenever necessary, that is, to inform you of changes in the functionality of the website and to offer you services / products that may be useful to you. For registration on our platform, you must provide a minimum set of personal information necessary to subscribe to the service and manage its account, and you expressly authorize ARTBID to process the personal data that is provided for this purpose. The information provided by the user will belong to the ARTBID database that complies with the General Regulation on Data Protection (Regulation (EU) 2016/679). The data entered are confidential, are intended for electronic treatment and will never be provided to third parties, free or commercial, without the prior consent of the owner. The ARTBID and regulates its activity subject to the following terms of contract and also any others that are individually specified on the website of ARTBID www.artbid.pt and should be read carefully. A - GENERAL PROVISIONS Article 1 (Definitions) 1) Description of the Objects - The description of any object made by ARTBID (verbally or in writing), including its nature, gender, condition, artist, origin, time, materials, weight and dimensions or provenance, not being considered a professional technical description, usually carried out by historians or professional researchers and all dimensions and weights are approximate. 2) State of Conservation of Objects - The state of conservation of the objects varies according to several factors, such as age, previous damages, wear and restoration. Items at auction may not be in perfect condition and are sold under the conditions in which they are at the time of sale. 3) Condition Reports - The report on the state of conservation of an object, also known as Condition Report , may be useful for evaluating the condition in which it is found, this report being exclusively for ARTBID's opinion and may not refer to all faults and failures, restorations, alterations and adaptations, since the ARTBID employees are not professional restorers or curators. For this reason, ARTBID reports on the state of conservation of objects do not replace professional opinion on the subject. 4) Estimates - Estimates are subject to change and neither ARTBID nor anyone can guarantee that such estimates correspond to actual sales figures. 5) Reserve Value or Base Value - Unless indicated otherwise, all objects are subject to a Reserve Value or Base Value, which corresponds to the minimum value, accepted by the seller, for sale of each object or lot of objects and below which they can not be sold. The Reserve Value or Base Value may not exceed the value of the minimum estimate. Objects that have no Reserve Value or Base Value may have this reference in their description. 6) Purchase Commission - Corresponds to the percentage related to the purchase of one or more objects, due to ARTBID, applied on the sale value of each lot, on which VAT is levied at the legal rate. Such commission is paid by the Buyer Client. 7) Sales Charge - Corresponds to the percentage related to the sale of one or more objects, due to ARTBID, to be deducted from the Sales Value, to which VAT is added at the statutory rate. Such commission is borne by the Seller Customer. 8) Buyer Client - It is the bidder, of legal age, that, under the terms of these Conditions, carry out the highest bid until the auction closes. 9) Customer Seller - It is the person or entity that celebrates with ARTBID a contract for the sale of objects at auction. 10) Expenses - These are the costs and expenses due to ARTBID, related to the sale of objects, such as restoration, insurance, storage, packaging and transportation, issuance of CITES certificates, among others. 11) Sales Value - This is the value by which the objects were sold in favor of the corresponding Buyer Client, without included commissions or other charges. 12) Total Debt Amount - Corresponds to the Sales Value of a lot sold, plus the Purchase Commission and any additional charges and expenses, due by a Buyer Client. 13 ) Net Sales Value - Corresponds to the net amount due to the Selling Client, that is, the Sales Value of the sold lot, less the Sales Charge at the previously agreed rate, less Expenses and any amounts owed to ARTBID by the Selling Client , under any circumstances. 14) Original Artwork - Corresponds, in accordance with Article 54 (2) of the Code of Copyright and Related Rights, to any work of graphic or plastic art, such as paintings, collages, paintings, drawings, serigraphs, prints, prints, lithographs, sculptures, tapestries, ceramics, glass and photographs, to the extent that it is executed by the author and is signed or authenticated or is a copy considered as original work of art, which must be numbered and signed. Article 2 (Photographs of Objects) Photographic images of objects may not clearly show the condition in which they are. The visualization of the images on the ARTBID website does not exempt the direct physical observation of the represented objects, in order to check the conformity of the piece reproduced in photography with its original and its particularities. Article 3 - (ARTBID's performance) ARTBID acts in the sale as representative of the Selling Client, and therefore can not be held responsible for the Selling or Buyer Customers for any lack or omission. Article 4 - (Opinions of ARTBID) a) Any ARTBID cataloging, reference or declaration in the descriptions of the objects, either on its website or in any publication, as regards authorship, attribution, genuineness, origin, materials, date, age, provenance, status, valuation value or estimates, should be understood as issuing an opinion. b) Any interested party must exclusively attend to its own value judgment, regarding the matters mentioned above and neither ARTBID nor its managers, collaborators or consultants, are responsible for the correction of such value judgments. Article 5 - (Communications) ARTBID communications addressed to Selling Customers, owners, potential bidders or Buyers Clients will take place by email, telephone and by mail. If made by registered mail, they will be considered up to 48 hours after their dispatch. Article 6 - (Personal Data) a) Buyer or Seller Customers express and consent to the processing of their personal data pursuant to Law 67/98, of October 26, processing that falls within the scope of authorization of exemption nº 1/99. b) The personal data of the Buyer or Seller Clients will be collected for the purposes of processing ARTBID's contractual obligations, as well as sending information about sales, auctions or other events and promotional information, organized by ARTBID. c) Buyer or Seller Customers shall have the right of access and information regarding their personal data. d) In order to access personal data and request its alteration, rectification or elimination, Buyer or Seller Clients may request it by email, or letter to the address of ARTBID, as well as on the website www.artbid. pt in My Artbid . B - BUYER AGREEMENT Article 7 (Registration) To be able to bid, the potential Buyer Client must be of legal age, register early on the website www.artbid.pt, and must state his name, address, tax number, email address and contact number terminating this registration with the acceptance of these Terms and Conditions. Article 8 (Buyer Client) a) ARTBID considers Buyer Client to bid and buy the object for the highest value, without prejudice to the possibility of exercise of preference or option by official entities, in accordance with the applicable legislation. b) ARTBID considers that whoever registers as a potential buyer acts for him or herself and may only act on behalf of third parties upon the prior delivery of a legally valid power of attorney for this purpose. c) ARTBID reserves the right, at the time of registration or later, request the prospective Buyer Client to present an original or a copy of a valid identification document. d) ARTBID reserves the right to refuse registration or to ignore any bid that has not, in time, fulfilled obligations, namely payment and withdrawal of one or more objects, in previous auctions. Article 9 (Online Bidding) a) Only online bids are accepted, through the website www.artbid.pt, and the bidder and potential Buyer Client must register in accordance with article 7 of these Contract Conditions. b) Neither ARTBID nor its managers or employees can be held responsible for errors or failures in the execution of online bids. c) The bidder and prospective Buyer Client accepts that its online bids on ARTBID's website are final and can not, by any means, be canceled or revoked. ARTBID is not responsible for any mistakes or errors that occur in the online bidding by the bidder or potential Buyer Client. d) ARTBID reserves the right to start any auction or bidding of any lot if it considers it appropriate and reasonable to do so. e) Whenever there are bids during the last 3 minutes before the closing time of the auction of a bidding lot, a further 3 minutes will be added at the closing time of the auction of that lot and so on. The auction will end when no one else is bidding. Article 10 - (Increase of Bids) a) The increases of the bids are established by ARTBID, according to the following table of increments: From Up to Increases ? 1 ? 10 ? 1 ? 10 ? 100 ? 5 ? 100 ? 200 ? 10 ? 200 ? 500 ? 20 ? 500 ? 1,000 ? 50 ? 1,000 ? 2,000 ? 100 ? 2,000 ? 5,000 ? 200 ? 5,000 ? 10,000 ? 500 ? 10,000 ? 20,000 ? 1,000 ? 20,000 ? 50,000 ? 2,000 ? 50,000 ? 100,000 ? 5,000 ? 100,000 ? 200,000 ? 10,000 ? 200,000 ? 500,000 ? 20,000 ? 500,000> ? 500,000 ? 50,000 b) In no case will the ARTBID system automatically tender, on behalf of the seller, up to or above the reserve value. Article 11 - (Maximum Offers) a) The maximum offers registered by the bidders will never be divulged by ARTBID. b) The maximum offers registered are managed by the ARTBID website, meaning that the lot value will be automatically increased, provided that there is another bidding (s) or maximum bid (s) placed ( s) later. b) Bidders who place maximum bids will be bidding the bid base amount (if there are no bids yet) or the value of the next bid designated in the batch, the value of that bid being conditioned to other value (s) of any maximum offers previously registered. Article 12 - (Purchase Commission) 1 - The Buyer Client shall pay to ARTBID the Purchase Commission of 15%(plus VAT at the legal rate) or 20% (plus VAT at statutory rate) for lots purchased through the platforms www.liveauctioneers.com and www.invaluable.com . 2 - The Purchase Commission is charged on the Selling Price of the objects sold. Article 13 - (Payment) a) The Buyer Client shall pay to ARTBID the Total Debt Amount, immediately after the auction is finalized. b) If ARTBID reserves the right to re-sell at auction or out of auction, within 5 (five) business days from the closing date of the auction, the payment referred to in the previous paragraph shall not be made. (s) not paid by the Buyer, without the Buyer being able to object or invoke any compensation. c) Payment can be made through Cash, ATM, Bank Transfer or Check. The object (s) will only be made available to the Buyer Client after confirmation of the respective good collection. d) Until the effective transfer of ownership, in the terms foreseen in the previous number, the objects remain property of the Selling Client. Article 14 - (Transfer of Ownership of Purchased Objects) a) Ownership of the objects tendered and purchased will not be transferred to the Buyer Client until the Purchaser has fully paid the Total Debtor Amount. b) Any loss or damage, including theft or robbery, related to purchased items, only grants the Buyer Client the right to receive an amount equal to the one paid up to that moment for the good, and is not entitled to any compensation, compensation or interest. Article 15 - (Survey of Acquired Objects) a) The Buyer Client shall proceed to the survey of the acquired objects, within a period of 8 (eight) business days from the closing date of the auction. b) If the acquired objects are not collected within the period referred to in the previous number, expenses related to the packaging, storage, handling, transportation and insurance of the same, may be borne by the Buyer Client, in accordance with the price list in force. Article 16 - (Buyer Responsibility for Purchased Objects) a) After the objects have been removed or after the expiration of the period mentioned in the previous article, item a), the Buyer Client will be responsible for the loss, damage or loss of the objects that it has acquired. b) ARTBID and its managers, employees or consultants may not, from any of the moments mentioned in the previous number, be liable for any loss or damage of any nature, in relation to the objects acquired. Article 17 - (Non-payment or non-collection of acquired objects) If any object is not fully paid for and lifted in the terms and conditions set forth in Articles 13 and 15, or if there is any breach of either or both of these provisions, ARTBID, acting as representative of the Selling Client, may, without in detriment of any other rights that it holds, adopt one or more of the following actions: a) To act judicially against the Buyer Client in order to be compensated for the damages arising from the default. b) Charge default interest at the statutory rate on the Total Debt Amount up to the time of receipt of the same. c) Sell the objects in question again. d) Retain one or all objects sold to the Buyer Client in the auction in question, or in another auction. e) Reject or ignore any bidding made by the Buyer Customer, or by another on its behalf, at any subsequent auction. f) To take other measures that, at any time, are adequate to obtain payment of the Total Amount in Debt, by the Buyer Client. Article 18 - (Rights over Photographs and Post-Sale Publications) The Buyer Client grants ARTBID the right to use photographs, illustrations, texts and descriptions at any time after the sale of the objects. Article 19 - (State and Authenticity of Objects) a) The objects sold at auction are all sold as is, possibly with defects, imperfections and possible errors or omissions of description. In the case of objects whose constitution includes mechanisms, whenever the description of the objects does not expressly refer to "running mechanism" they may need repair. b) The photographs of the objects are exclusively for the identification of the objects, subject to sale. c) Buyers accept the objects in the state in which they are before the sale at auction and will freely decide whether or not they correspond to the description provided. For a better appreciation of the objects for sale, ARTBID advises potential Buyers to physically observe the objects before bidding them. To do so, they may go to ARTBID headquarters every business day, during office hours. d) ARTBID, its managers, collaborators or consultants may not be liable for errors related to the description, genuineness or authenticity of any good, since no guarantee in this respect is given by ARTBID, its managers, collaborators or consultants. e) If it proves that any object has been a Deliberate Falsification, it may be returned by the Buyer Client to ARTBID, within one year after the date of purchase, and the return must occur in the same state in which the object was at the date of the auction, accompanied by a report issued by an entity of recognized prestige and credibility, which must include the defects and falsifications of the object, its number and the date of the auction in which it was acquired , the Purchaser Client being, however, not entitled to any compensation, compensation or interest. f) If ARTBID considers that it is an actual deliberate falsification and the Buyer Client still owns the acquired object, the purchase and sale will be canceled and the amount of the purchase price returned, without the Selling Client being able to oppose it . g) The Purchaser's rights under this clause are limited to the amount paid, and the Buyer can not claim any loss, damage or damage suffered or any expenses incurred. h) The beneficiary of the regime provided for in this clause will be exclusively the original Buyer Client, that is, the one who acquires the object in the auction or purchase, identified in the invoice issued by ARTBID. i) ARTBID shall not be liable to the Buyer Client for any object that, due to fact attributable to the Selling Client or to a third party, will be the subject of complaints or claims from third parties including the provisional or definitive seizure by the competent authorities, regardless of the date on which their claim, claim or seizure has been determined or enforced, and the nature or amount of any loss, damage or damage to the Purchaser that may arise from that fact, which shall be claimed by the Buyer Customer Salesperson or third party. C - SELLER AGREEMENT Article 20 - (Guarantee of Ownership and Availability of Property) a) Objects sold by auction, or in any other form, are part of a contract entered into between the Selling Client and ARTBID. b) The contract must include: Full identification of the Seller or his representative, if applicable; Identification and description of the object; The sales estimates and the Reserve Value or Base Value; c) The commission due by the Selling Client to ARTBID, as well as other costs that may be due by the Selling Client, namely packing, transportation, restoration and cleaning of parts, certificates, among others previously agreed upon. d) The Seller Seller undertakes to inform ARTBID of the respective ownership of the objects, in particular the title to which it was acquired and the source thereof, and ARTBID reserves the right to request the production of documents proving ownership of the same. e) The Selling Client guarantees to ARTBID and the Buyer Client that it is the legitimate owner of the objects or that it is legally authorized by the owner to sell them, and that they are free of burdens, burdens and restrictions, in particular with regard to the possession, use , fruition or transferability, including classification, inventorying or cataloging by any official entity or initiation of proceedings for such purpose, and in any case, expressly obliged to inform ARTBID of any inventory or listing of objects by official entities. f) If, during the term of the contract, the Seller is notified or becomes aware of the initiation of a procedure for the classification, inventorying or listing of objects, or that any third party assumes any right over it, it shall immediately inform the ARTBID. g) The Seller Seller undertakes to indemnify ARTBID, its managers or employees, as well as the Buyer Client, for any damage or loss suffered as a consequence of breach of the provisions set forth in the previous numbers. Article 21 - (Base Value or Reserve Value) a) The Selling Client and ARTBID, at the moment of the conclusion of the contract of consignment for sale by auction, will agree on a Base Value or Reserve Value, thereby setting a minimum value below which the object (s) concerned shall not be sold. In the event that the Selling Client agrees to place the object (s) in an Auction with no Base Value or Reservation Value, it implies that the same can be sold for the best offer, below estimate. b) The Seller Seller undertakes not to withdraw the parts consigned for sale by auction, or other modality, from the date of signature of the respective contract. Article 22 - (Sales Charge and Other Costs) 1 - The Selling Client will pay ARTBID a Sales Charge in accordance with the Special Object Sales Regime at Auction: Art and Antiques Auctions - 18% (plus VAT at legal rate) Book, Manuscript, Toy and Wine auctions - 25% (plus VAT at statutory rate) 2 - The Selling Fee is charged on the Selling Price of the objects sold. 3 - Photographic costs: ? 1,00 per lot (plus VAT) Article 23 - (Deduction of Sales and Expenses Amounts) The Seller Seller authorizes ARTBID to deduct from the sale value the amount of the Sales Charge, at the previously agreed rate, as well as the amount of other costs, which may also have been agreed upon. Article 24 - (Insurance) a) ARTBID will insure on behalf of the selling client, the objects that are in its possession for sale. (b) ARTBID shall bear the amount relating to the insurance premium, irrespective of the nature of the objects in question. c) All objects protected by ARTBID have a franchise of 10% of their value of Reserve, so that any damages that occur, will always have the application of said exemption. Article 25 - (Payment of the Net Selling price the seller Client) The ARTBID send Customer Seller Net Selling price within ten (10) business days after the closing date of the auction, if (s) Customer (s) Buyer (res) has already made the payment of the Total Debt Amount, relative to the object (s) sold. Article 26 - (Failure to Pay the Total Debt Amount) If the Buyer Client does not pay ARTBID the Total Debt Amount within 5 (five) business days of the closing date of the auction, ARTBID shall endeavor to decide, together with the Seller Seller, on the most appropriate conduits to take, pursuant to Article 17, to obtain payment by the Buyer Client. ARTBID reserves the right to charge a fee corresponding to 10% of the average between the two of them. If the Selling Customer cancels the Sale Agreement, after signing, ARTBID reserves the right to charge a fee corresponding to 10% of the average between the two evaluation of the objects removed, plus VAT at the legal rate and the expenses incurred, attributable to the objects in question. Article 28 - (Rights On Photographs) The Seller Seller grants ARTBID the right to photograph and use the photographs for publication in any form, with the aim of any object in ARTBID's possession to be sold, as well as to use texts, photographs or illustrations of any kind, as well as any other provided by the Selling Client, on its own initiative, at any time, connected or not to the sale. Article 29 - (Objects not sold) Unsold items will be auctioned back successively in a period of not less than 15 days, with a Base or Reserve value 30% below the previous Base or Reserve Value. Alternatively, by paying any expenses due, the objects must be raised by the Selling Client or someone authorized by him for this purpose, within 10 days after the closing of the auction, in which the object was not sold. Article 30 - (Copyrights) a) If the object sold corresponds to an Original Art Work that is not of architecture or applied art, the author of the work, other than the Selling Client, shall have the right, in accordance with art. 54, no. 1, of the Copyright Code, to a participation in the price obtained in the sale, free of taxes. b) Pursuant to article 54, paragraph 7 of the Copyright Code, the payment of the participation referred to in this clause is the responsibility of the Client of the Original Art Worker, and the latter undertakes to deliver to the author of the work the amount respectively. c) In the event that the author of the Original Art Work or the Portuguese Society of Authors contact ARTBID for the payment of the participation referred to in this clause, ARTBID shall provide information on the contact data of the Selling Client and the terms in which it was processed the sale, so that the author can exercise his legal right with it. d) The participation referred to in paragraph 1 is established, pursuant to art. 54, paragraph 4 of the Copyright Code, as follows, and may not, in any case, exceed ? 12 500: 4% on the sale price of between ? 3,000 and ? 50,000 3% of the sale price between ? 50,000.01 and ? 200,000 1% of the sales price, which is between ? 200,000 , 01 and ? 350,000 0.5% on the sale price whose amount is between ? 350.000,01 and ? 500,000 0.25% on the sale price whose amount exceeds ? 500,000,01 Article 31 - (Competent Forum) For any and all issues arising from these Conditions of Contract, the jurisdiction of the District of Lisbon shall be competent, expressly renouncing any other. Article 32 - (Arbitration) ARTBID hereby informs that, in the event of a dispute, the consumer may use the Arbitration Center for Conflicts of Consumption of Lisbon, located at Rua dos Douradores, 116 - 2º - 1100-207 Lisbon, whose information is available on the website http://www.centroarbitragemlisboa.pt/