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Commission
25.
The seller shall pay the Auctioneer commission at the rate of 10% on the
Hammer Price of all Lots sold on behalf of the seller at Irish Art Sales and
17.5% on the Hammer Price of all Lots sold on behalf of the seller at all
other auctions together with V.A.T. thereon at the applicable rate. The
seller authorises the Auctioneer to deduct from the Hammer Price paid by
the buyer the Auctioneer’s Commission under this condition; VAT payable
at the applicable rates and any other amounts due by the seller to the
Auctioneer in whatever capacity howsoever arising. The seller agrees that
the Auctioneer may also receive commission from the buyer pursuant to
condition 13.
Insurance
26.
Unless otherwise instructed by the seller, all Lots (with the exception
of motor vehicles) deposited with the Auctioneer or put under its con-
trol for sale shall automatically be insured by the Auctioneer under the
Auctioneer’s own fine arts policy for such sum as the Auctioneer shall
from time to time in its absolute discretion determine. The seller shall pay
the Auctioneer a contribution towards such insurance at the rate of 1%
of the Hammer Price plus VAT. If the seller instructs the Auctioneer not to
insure a Lot then the Lot shall at all times remain at the risk of the seller
who undertakes to indemnify the Auctioneer and hold the Auctioneer
harmless against any and all claims made or proceedings brought against
the Auctioneer of whatever nature and howsoever and wheresoever
occurring for loss or damage to the Lot. The sum for which a Lot is cov-
ered for insurance under this condition shall not constitute and shall not
be relied upon by the seller as a representation, warranty or guarantee
as to the value of the Lot or that the Lot will, if sold by the Auctioneer,
be sold for such amount. Such insurance shall subsist until such time as
the Lot is paid for and collected by the buyer or, in the case of Lots sold
which are not paid for or collected by the buyer by the due date hereun-
der for payment or collection such due date or, in the case of Lots which
are not sold, on the expiry of seven (7) days from the date on which the
Auctioneer has notified the seller to collect the Lots.
Recision of Sale
27.
If before the Auctioneer has paid the Proceeds of Sale to the seller the
buyer proves to the satisfaction of the Auctioneer that the Lot sold is a
Forgery and the requirements of condition 20 are satisfied the Auctioneer
shall rescind the sale and refund to the buyer any amount paid to the
Auctioneer by the buyer in respect of the Lot.
Payment of Proceeds of Sale
28.
The Auctioneer shall remit the Proceeds of Sale to the seller not later
than thirty (30) days after the date of the auction, provided however
that, if by that date, the Auctioneer has not received the Total Amount
Due from the buyer then the Auctioneer shall remit the Proceeds of Sale
within seven (7) working days after the date on which the Total Amount
Due is received from the buyer. If credit terms have been agreed between
the Auctioneer and the buyer the Auctioneer shall remit to the seller the
Proceeds of Sale not later than thirty (30) days after the date of the auc-
tion unless otherwise agreed by the seller.
If before the Total Amount Due is paid by the buyer the Auctioneer pays
the seller an amount equal to the Proceeds of Sale then title to the Lot
shall pass to the Auctioneer.
If the buyer fails to pay the Auctioneer the Total Amount Due within
fourteen (14) days after the date of the auction, the Auctioneer shall
endeavour to notify the seller and take the seller’s instructions on the
course of action to be taken and, to the extent that it is in the sole opinion
of the Auctioneer feasible, shall endeavour to assist the seller to recov-
er the Total Amount Due from the buyer provided that nothing herein
shall oblige the Auctioneer to issue proceedings against the buyer in the
Auctioneer’s own name. If circumstances do not permit the Auctioneer
to take instructions from the seller or, if after notifying the seller, it does
not receive instructions within seven (7) days, the Auctioneer reserves
the right, and is hereby authorised by the seller at the seller’s expense,
to agree special terms for payments of the Total Amount Due, to remove,
store and insure the Lot sold, to settle claims made by or against the
buyer on such terms as the Auctioneer shall in its absolute discretion
think fit, to take such steps as are necessary to collect monies due by the
buyer to the seller and, if necessary, to rescind the sale and refund money
to the buyer.
Payment of Proceeds to Overseas Sellers
29.
If the seller resides outside Ireland the Proceeds of Sale shall be paid to
such seller in Euro unless it was agreed with the seller prior to the auction
that the Proceeds of Sale would be paid in a currency (other than Euro)
specified by the seller in which case the Proceeds of Sale shall be paid by
the Auctioneer to the seller in such specified currency (provided that that
currency is legally available to the Auctioneer in the amount required)
calculated at the rate of exchange quoted to the Auctioneer by its bankers
on the date of payment.
Charges for Withdrawn Lots
30.
Once catalogued, Lots withdrawn from sale before proofing/publication
of Catalogue will be subject to commission of 5% of the Auctioneer’s lat-
est estimate of the auction price of the Lot withdrawn together with VAT
thereon and any expenses incurred by the Auctioneer in relation to the
Lot. If Lots are withdrawn after proofing or publication of Catalogue they
will be subject to a commission of 10% of the Auctioneer’s latest estimate
of the auction price of the Lot withdrawn together with VAT thereon
and any expenses incurred by the Auctioneer in relation to the Lot. All
commission hereunder must be paid for before Lots withdrawn may be
removed.
Unsold Lots
31.
Where any Lot fails to sell at auction the Auctioneer shall notify the seller
accordingly and (in the absence of agreement between the seller and the
Auctioneer to the contrary) such Lot may, in the absolute discretion of the
Auctioneer, be re-entered in the next suitable auction unless instructions
are received from the seller to the contrary, otherwise such Lots must be
collected at the seller’s expense within the period of thirty (30) days of
such notification from the Auctioneer.
Upon the expiry of such period the Auctioneer shall have the right to
sell such Lots by public auction or private sale and on such terms as the
Auctioneer in its sole discretion may think fit. The Auctioneer shall be enti-
tled to deduct from the price received for such Lots any sums owing to
the Auctioneer in respect of such Lots including without limitation remov-
al, storage and insurance expenses, any commission and expenses due
in respect of the prior auction and commission and expenses in respect
of the subsequent auction together with all reasonable expenses before
remitting the balance to the seller. If the seller cannot be traced the
balance shall be placed in a bank account in the name of the Auctioneer
for the seller. Any deficit arising shall be due from the seller to the
Auctioneer. Any Lots returned at the seller’s request shall be returned at
the seller’s risk and expense and will not be insured in transit unless the
Auctioneer is so instructed by the seller.
Auctioneer’s Right to Photographs and Illustrations
32.
The seller authorises the Auctioneer to photograph and illustrate any Lot
placed with if for sale and further authorises the Auctioneer to use such
photographs and illustrations and any photographs and illustrations pro-
vided by the seller at any time in its absolute discretion (whether or not in
connection with the auction).
Catalogue illustrations are included at the discretion of the Auctioneer.
Illustration charges will be calculated on the particular category of sale.
These charges are subject to change. Irish Art Sale Illustrations: €150.00
full page, €100.00 half page, €50.00 other sizes. Fine Art Illustrations:
Scaled fee: €100.00 for lots sold for €3,000.00 and over, hammer price,
€50.00 for lots sold under €3,000.00 hammer price. All other sales: €25.00
per illustration. All lots illustrated and not sold are charged €25.00 per
illustration.
VAT
34.
It is presumed, unless stated to the contrary, that the items listed herein
are auction scheme goods as defined in the Finance Act 1995.
35.
Artist’s Resale Rights (Droit de Suite)
Government Regulations (S.1. 312/2006)
Under this legislation a royalty (droit de suite) is payable to artists or the
artist’s heirs (if deceased in the last 70 years) of E.U. nationality on all
works resold for €3,000 or more, other than those sold by the artist or the
artist’s agent.
The resale royalty payable is calculated as follows:
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From €3,000 to €50,000 4%
From €50,000.01 to €200,000 3%
From €200,000.01 to €350,000 1%
From €350,000.01 to €500,000 0.5%
Exceeding €500,000 0.25%
The total amount of royalty payable on any individual sale shall not
exceed €12,500 The seller is liable for payment (paragraph 7.1 of
Government Regulations (S.1. 312/2006) of this royalty on completion of
the sale. The artist may request from the Auctioneer any information nec-
essary to secure payment.
The Auctioneer will automatically deduct the amount due from the
proceeds of sale and will hold in trust for the artist, their heirs or their
representative for a period of 3 years from the date of sale. A vendor may
choose to check the ARR Waiver on the Sale Receipt Contract indicating
that they accept sole responsibility for the payment and authorises the
Auctioneers to disclose their contact details to the artist, their heirs or
their representative.