Conditions of Sale
CONDITIONS OF SALe – 2021. 05.
1. ARTE Gallery as Auctioneer as a commercial agent is authorised by the commissioning party to sign the sale and the purchase agreement of the lot with the highest bidder and receive the purchase price on behalf of and to the benefit of the commissioning party. Under this arrangement the sale and purchase agreement shall be settled between the commissioning party (owner of the lot) and the buyer.
2. The lots are called up in the same succession as in the catalogue in a way that the auctioneer announces the catalogue number, painter and starting price of the lot to be auctioned. The buyers then indicate their intention to bid by raising their numbered bidding paddle.
3. Unsold items re-auctioned at the end of the Auction.
4. Auction items may not be purchased below the starting price.
5. All collusion or conspiracy on behalf of any party, planning to force a third party to make an unreasonable high bid, and thus inflict any loss on the third party is strictly forbidden.
6. The buyer offering the highest bid shall acquire the title of the lot. In the case of items marked in the catalogue as ’protected – VÉDETT’, all Hungarian museums have priority to purchase the lot at the hammer price. The protected items cannot be exported from Hungary. Owners of these items are registered by the Ministry and any change in ownership must be reported to the relevant authorities.
7. Once awarded to the highest bidder, the item may not be repurchased or re-auctioned again, unless the identity of the buyer cannot be established. In this case the Auctioneer is entitled to re-auction the item.
8. The buyer shall pay a buyer’s premium of 23% on the hammer price. That includes VAT, but it is not refundable.
9. The EUR prices listed in the catalogue are only published for information purposes. The current daily exchange rates will be used on the day of actual payment.
10. The price can be paid in cash, credit card or banktransfer within 10 days after the auction. If the purchase price has not been paid in full by the set deadline. the Auction House reserves the right to terminate the sale is ivalid.
11. The buyer is responsible for the package and transport of the purchased item at his own cost and risk. Failure to do so on the part of the buyer shall release the Auction House from any responsibility for any loss of or damage to the purchased item. We help to organise the exportlicense and the packaging, order the shipping. Buyer pays the costs. But we are not responsible for any damage done through the travel of the package. We storage the Items 15 days after the payment.
12. All items could be viewed personally on the exhibition. All descriptions and illustrations in the catalogue are only for identification purposes. The buyer is responsible for inspecting the condition of the auction lots – prior to the auction – and for deciding whether this is in accordance with the catalogue description. All items are sold with the defects and imperfections they may have at the time of the Auction.
13. The Gallery guarantees that all items in the Auction are genuine.If the item is fake though marked genuine in the catalogue. In this case the buyer may contest the sale in writing within 3 months of the initial doubt to the provenance or genuinness of the item, but no later than 5 years from the date of the Auction.
14. The Auction House has the right to cancel the auctioning of an Item, that will be mentioned at the beginning of the auction.
15. If the bidder not want to take part on the auction personally than could give absentee bids. The Absentee bids can be noted during the exhibition period: personaly, via email or by telephone
Such bids must be received by the auctioneer no later than 24 hours before the auction date. The Auction House will make every effort to secure the item at the lowest price to the absentee bidder. In case two absentee bids of the same price indication are submitted for one auction lot, the one submitted first will take precedence.
Please always indicate that your exact absente bid or note, that we could take + 1, 2 bid step, because if during the auction the same amount is received from a bidder in the room, the absentee bid does not enjoy priority.
Absentee bids submitted without a price limit indicated will not be accepted.
When the absentee bids comes from the website wwww.arte.hu, it enjoys priority against the room.
If the bidder would bid live by phone, it must be noted one day before the auction.
16. The hungarian Civil Code (PTK) shall govern in any matter unregulated in the present Conditions of Sale. Should any dispute arise, the Parties accept the competence of the Municipal Court of Budapest.
2021. 05. 30. Diana MArsó