20th Century Sculpture

MODERN ART AUCTIONS TERMS and CONDITIONS 1. The highest bidder will be the buyer and once the ‘hammer’ has fallen no purchase can be cancelled for any reason and no allowance can be made. If there is any dispute, the auctioneer’s decision will be final. All bidders must register to bid before the day of the auction. 2. The auctioneer has absolute discretion to divide, combine or withdraw any lot[s] and to refuse bids or regulate bidding. 3. All lots are subject to any reserve price imposed by the seller and to the right of the seller to bid personally or through any person who may be the auctioneer. 4. Lots may be viewed at our offices. All descriptions and cataloguing of lots will be done by the auctioneer and are sold without guarantee, with all faults, imperfections and errors of description. No sale shall be invalidated by reason of incorrect descriptions. All lots are sold ‘as is’. Buyers’ are advised to seek professional help prior to bidding to satisfy themselves as to the condition and authenticity of lots and must rely on their own judgement. Condition reports may be provided, at the auctioneer’s discretion, but must not be relied upon as an accurate assessment. We do not employ professional restorers or use ultra-violet lamps or any other equipment or techniques to assess condition. Requests for condition reports, images and information must be made before 1pm on the day prior to the auction date. Auction viewers will be held personally liable for any property lost or damaged, accidentally or otherwise, during or after viewing 5. The auctioneer will only act as agent for the seller and will not be responsible, in any circumstances, for disputes between buyer and seller. 6. Any person bidding for a third party shall be held personally responsible for any purchases. 7. Buyers premium 15% + VAT [18% + VAT when bidding via Internet] 8. All lots purchased must be paid for in full and collected within 14 days of the auction date [storage charges of £3 per day per lot will be charge thereafter]. Payments from third parties will not be accepted. Payments must have cleared before lots are released. Collections are not allowed on the auction date. Lots will only be released to the buyer, unless special arrangements have been made, in writing, to authorise a third party collection. If the buyer fails to pay within the agreed time, the auctioneer will, at their sole discretion, take whatever steps they deem necessary, appropriate and reasonable to recover funds from the buyer. The auctioneer is not obliged to take legal action on behalf of the seller to recover sums due from the buyer. Under no circumstances is the auctioneer liable to pay the seller for any amount not paid by the buyer. 9. We offer online bidding. On completing the bidder registration, you authorise Modern Art Auctions to automatically charge the credit card given in full payment [including all fees, commissions, premiums, etc.] for all lots purchased in the auction. 10. If equal bids are received from different bidders, the first to be received takes precedence – so please bid early. 11. Commission bids in writing are accepted if you prefer not to bid online via the-saleroom.com. All bids are left at the bidder’s own risk, we cannot be held responsible for errors or failure to execute bids. Bidders must register their personal details before bidding. Telephone bids are not accepted. 12. The auctioneer reserves the right to sell subject to a reserve price, to advance bidding at his own discretion and to refuse the bid of any person or persons for any reason. 13. Collections can be made from our offices. We do not pack and ship lots in-house but can suggest a local shipper who will ship internationally [see our website]. We recommend that buyers’ obtain a quote for shipping before bidding. Shipping is at the buyer’s own risk and cost. Once sold all lots will be held uninsured at the buyer’s risk. 14. If the buyer fails to comply with any of our terms and conditions, the auctioneer may re-sell the lot[s] by public or private sale without warranty or reserve and without notice to the buyer. If re-sale results in a lower price than obtained at our first auction, the difference in price and all charges and costs will be payable by the buyer. 15. Copyright to photographs taken by the auctioneer or his representative will remain with the auctioneer after the lot has been removed and may be reproduced by the auctioneer at any time thereafter. Photographs in our catalogues are usually not taken by professional photographers and must not be relied upon as an accurate depiction of the lot. Bidders should view all lots in person. 16. The auctioneers act in the sale of goods as agents only and are not responsible for any default by either buyer or seller. In particular they shall not be liable to pay the seller until cleared payment has been received from the buyer. We usually aim to pay the seller within 30 days of the auction date, unless the payment from the buyer is delayed. 17. No person visiting the auctioneer’s offices shall have a claim against the auctioneers in respect of any injury sustained or any accident or damage which may occur from any cause whatsoever. 18. The buyer or seller is responsible for any damage to the auctioneer’s premises or the building containing those premises caused by delivery or removal of items. 19. All statements contained in any catalogues or listings: [a] as to any lot, are made without responsibility on the part of the sellers or the auctioneers; [b] as to the authenticity, attribution, genuineness, origin, authorship, date, age, period, condition or quality of any lot[s] are statements of opinion and are not to be taken as, or as implying, statements or representations of fact. Intending buyers must satisfy themselves by inspection, employment of experts and professional advisors or otherwise as to all such matters and to the physical condition and description of any lot[s]. Neither the seller nor the auctioneer make or give any representation or warranty in relation to any lot. The auctioneer disclaims all responsibility for statements about any lot made by the seller. 20. The auctioneers reserve the right to change these terms and conditions at any time. 21. When the seller instructs the auctioneer to sell property, he appoints the auctioneer as exclusive agent to sell that property. The seller also agrees to pay all fees, expenses, costs, VAT, etc. where applicable. 22. The seller agrees to pay the following costs: [a] packaging and shipping the property to the auctioneer’s premises; [b] packaging and shipping the property if they are returned to the seller unsold; [c] any applicable customs duty; [d] any external opinion where deemed appropriate by the auctioneer, and approved by the seller in advance; [e] any marketing initiative likely to increase the appeal of the property, where deemed appropriate by the auctioneer and approved in advance by the seller; [f] storage charges as applicable to unsold lots not collected within 7 days of the auction date; [g] insurance charges for all property whilst in the auctioneer’s premises. Property not collected within 30 days of the auction date may be re-offered for sale with no reserve. 23. The seller must be the sole owner of the property with unrestricted rights to sell to the buyer, free from all third party claims or rights [including copyright and other property rights]. The seller must also inform the auctioneer of any known facts which may affect the value or appeal of the property, including any concerns expressed by third parties as to authenticity, provenance, attribution, ownership, etc. 24. Any estimate given by the auctioneer is a matter of opinion and is not an undertaking or forecast as to the amount an item may fetch at auction. 25. The auctioneer will agree a reserve with the seller, but where no reserve has been agreed the auctioneer may sell to the high bidder, regardless of the amount offered by that bidder. 26. Once the seller has agreed to sell and delivered the property to the auctioneer, the seller cannot withdraw the property without the written consent of the auctioneer. The auctioneer may withdraw the property or postpone the sale for a reasonable time for any reason, including doubt about authenticity, attribution, ownership dispute or provenance. In that situation the buyer must pay the auctioneer’s reasonable costs, including photography, cataloguing, storage, etc. The seller agrees that the auctioneer will hold the item as security until these costs are paid in full. 27. Estimates appearing in catalogues are not representations of fact, but merely the auctioneer’s current opinion of the price a willing buyer may pay. The actual price achieved in the auction may be substantially different from these estimates and the auctioneer shall not be liable for any difference between the estimate and actual price obtained for the property [or part thereof] at a subsequent auction or other resale. 28. Whilst you can browse our website or our auction on the-saleroom.com without registering, you will be required to register on each website to bid and you must be 18 years or over to do this. If you are registering on behalf of a business you must provide the necessary written authority to prove you are entitled to bid on behalf of that business. The auctioneer reserves the right to refuse any registration for any reason. 29. All auctions are conducted in GB pounds [£] sterling. Bidders are responsible for ensuring that they have sufficient funds to cover the cost of bids [including any premiums, fees, VAT, etc.] and are able to pay promptly. Any bid constitutes a legally binding contract and bids may not be retracted. 30. The auctioneer reserves the right to cancel, pause or stop an auction for any reason and at any time. 31. If you are the successful high bidder please wait to be contacted by the auctioneer before making any payment. Payment may only be made by using the specified payment methods as indicated on the website. The auctioneer will not accept the return of sold items under any circumstances. The Consumer Protection [Distance Selling] Regulations 2000 do not apply to these online auctions. 32. Buyers and Sellers must acknowledge that due to the nature of the internet, the auctioneer cannot guarantee that access to the websites [ours and the-saleroom.com] will be uninterrupted or that emails, bidding, browsing or other transmissions or procedures will function properly during the auction. We apologise if this happens, but cannot be held responsible in any way for these problems. 33. Most items are subject to a reserve, i.e. the price below which bids will not be successful in securing the lot. The reserve is confidential. 34. The Artist Resale Rights tax [4% for each lot selling for up to 50,000 euros and lower thereafter] will be payable on lots selling for 1,000 euros or more [please contact DACS or one of the other official collecting agencies for more information]. 35. VAT is payable on the auction premium at the current rate, but may also be payable on the hammer price in certain circumstances e.g. where the seller is VAT registered or the property has been imported from outside the EU [usually 5%]. If the buyer [usually located outside the EU] is seeking a VAT refund, they must contact HM Revenue & Customs directly for claim forms, the auctioneer will not be responsible or involved in such applications. 36. Buyers from outside the UK may have to pay import taxes for property shipped to them and should research this before bidding. 37. Before bidding on any property, bidders are advised to make their own enquiries as to whether a licence is required to export the property from the UK. It is solely the responsibility of the buyer to comply with any export or import regulations which may apply. Failure to obtain a licence or delay in so doing shall not constitute a basis to cancel a purchase or delay in making payment for a lot purchased. 38. Once the ‘hammer’ has fallen the buyer is responsible for insurance of lots and the auctioneer can accept no responsibility for loss or damage to property. 39. Users of the website, visitors to our offices, sellers, bidders and buyers all agree to fully indemnify, defend and hold the auctioneers [Selham Ltd t/a Modern Art Auctions] harmless immediately upon demand from and against all actions, liability, claims, losses, damages, costs and expenses [including legal fees] that we incur arising directly or indirectly as a result of their breach of these Terms and Conditions. These Terms and Conditions may be inspected at our offices or can be emailed to you on request. Selham Limited t/a Modern Art Auctions reg. no. 03391981 - VAT reg. no. 714718632