Page 78 - ACQUIRE AT SOGAL AUCTION 2018

condition reports will sign a bidder registration (a) the bidder is registered or submits the bid apply to both the agent bidder and the principal
be provided if requested by customers, and price form and provide identification before he has with a completed bidder for the bid to be valid.
comparables of works the Right to bid. Sogal Art registration form; 6. Absentee bids are welcome and Sogal Art
sold at auction. Auction may require the production of bank or (b) the bid is made in the local currency Auction will carry out written
3. Neither Sogal Art Auction nor the seller other financial references. (c) the bid is received a minimum of 72 bids for the convenience of clients who are not
provides any guarantee in relation (b) A prospective, registered buyer can authorize 7. Reserve sale prices, indicated by the owner, present at the auction in
to the property, which is sold in “as is” condition a third party to act as agent are included for all lots unless person, through the auctioneer or by way of
to the buyer, except as in the bidding process if the buyer is unable to otherwise indicated (by the symbol • next to representation through an agent.
stated in the Limited Warranty in paragraph 19 attend the auction. This the lot number). The reserve is We reserve the Right to not accept an absentee
below. This pertains to, but arrangement, if such is to occur, must be the confidential minimum price for the lot. If bid if it does not comply with
is not limited to, the condition of the work, the conveyed in writing to Sogal Art bidding for a particular lot ends any of the following conditions:
authorship and authenticity Auction and approved by the same. (c) Sogal below the reserve, the lot will not be sold. The (a) the bidder is registered or submits the bid
of the work and any descriptive or historical Art Auction has the Right, at its reserve will not exceed the with a completed bidder
detail about the work that is complete discretion, to refuse admission to the low estimate printed in the catalogue. The registration form;
disclosed verbally or printed in the catalogue premises or participation in auctioneer may open the bidding (b) the bid is made in the local currency
or elsewhere. any auction and to reject any bid. on any lot below the reserve and may continue (c) the bid is received a minimum of 72 hours
In good faith to the buyer, signed declarations to bid on behalf of the seller prior to the auction.
by the seller warrant the At the Sale up to, and strictly limited to, the amount of the Please refer to the absentee bid form on our
following: (a) the seller is the owner of the item, hours prior to the auction. reserve, either by placing website for clarifications.
or is properly authorized Please refer to the absentee bid form on our consecutive bids or by placing bids in response Bidders will receive a receipt of acknowledgement
by the owner to sell the item. (b) The seller can website for clarifications. to other bidders. from Sogal Art Auction,
and shall, in accordance Bidders will receive a receipt of acknowledgement 8. Subject to the auctioneer’s discretion, the up to 24 hours after it is submitted and will
with the conditions set upon him by, transfer from Sogal Art Auction, highest bidder accepted by the further receive a confirmation
possession to the buyer with up to 24 hours after it is submitted and will auctioneer will be the buyer. The auctioneer that the bid is accepted with a date stamp, the
good and marketable title to the item, free further receive a confirmation will indicate that the highest bid purpose of which is to fairly
from any third party Rights, that the bid is accepted with a date stamp, the has been accepted with a strike of his hammer execute the following circumstance:
claims or potential claims (including without purpose of which is to fairly (hereafter referred to as the If we receive written bids on a particular lot for
limitation, by governments execute the following circumstance: ‘hammer price’). This same strike of the hammer identical amounts, and at
or governmental agencies). (c) The seller has If we receive written bids on a particular lot for symbolically and legally the auction these are the highest bids on the
provided Sogal Art Auction identical amounts, and at establishes the contract for sale between the lot, it will be sold to the person
in writing with all information concerning the the auction these are the highest bids on the seller and buyer. Risk and whose written bid was received and accepted
item’s provenance and lot, it will be sold to the person responsibility for the lot (including frames or first.
has notified Sogal in writing of any concerns whose written bid was received and accepted glass where relevant) passes to 7. Reserve sale prices, indicated by the owner,
expressed by third parties first. the buyer at the expiration of seven calendar are included for all lots unless
concerning its ownership, condition, authenticity, 5. When making a bid, a bidder is accepting days from the date of the sale or otherwise indicated (by the symbol • next to
attribution and export personal liability to pay the on collection by the buyer if earlier.If such is to the lot number). The reserve is
or import history. (d) The seller has paid or will purchase price, including the buyer’s premium occur, must be the confidential minimum price for the lot. If
pay all taxes and duties and all applicable taxes, plus conveyed in writing to Sogal Art bidding for a particular lot ends
potentially due to her on the sale proceeds of all other applicable charges. This does not Auction and approved by the same. (c) Sogal below the reserve, the lot will not be sold. The
the item. apply if the bidder is acting as Art Auction has the Right, at its reserve will not exceed the
agent on behalf of an identified third party complete discretion, to refuse admission to the low estimate printed in the catalogue. The
3. (a) All statements by Sogal Art Auction made acceptable to Sogal Art Auction premises or participation in auctioneer may open the bidding
orally or printed in the and this has been explicitly agreed in writing any auction and to reject any bid. on any lot below the reserve and may continue
catalogue entries, the condition reports or with Sogal Art Auction before to bid on behalf of the seller
elsewhere are statements of the commencement of the sale. In respect of At the Sale up to, and strictly limited to, the amount of the
opinion and not to be relied on as statements this situation Sogal Art Auction 5. When making a bid, a bidder is accepting reserve, either by placing
of fact. Such statements do not will only consider the principal liable for payment. personal liability to pay the consecutive bids or by placing bids in response
constitute a representation, warranty or Conditions in paragraph 4 purchase price, including the buyer’s premium to other bidders.
assumption of liability by us of any apply to both the agent bidder and the principal and all applicable taxes, plus 8. Subject to the auctioneer’s discretion, the
kind. (b) References to damage and restoration for the bid to be valid. all other applicable charges. This does not highest bidder accepted by the
are for guidance only and 6. Absentee bids are welcome and Sogal Art apply if the bidder is acting as auctioneer will be the buyer. The auctioneer
absence to such references does not imply that Auction will carry out written agent on behalf of an identified third party will indicate that the highest bid
an item is free from defects bids for the convenience of clients who are not acceptable to Sogal Art Auction has been accepted with a strike of his hammer
or restoration, nor does a reference to particular present at the auction in and this has been explicitly agreed in writing (hereafter referred to as the
defects imply the absence of person, through the auctioneer or by way of with Sogal Art Auction before ‘hammer price’). This same strike of the hammer
any others representation through an agent. the commencement of the sale. In respect of symbolically and legally
We reserve the Right to not accept an absentee this situation Sogal Art Auction establishes the contract for sale between the
Before the Sale bid if it does not comply with will only consider the principal liable for payment. seller and buyer. Risk and
4. (a) A prospective buyer must complete and any of the following conditions: Conditions in paragraph 4 responsibility for the lot (including frames or