Adam's The Deborah Brown Collection 1st October 2024

122 lect monies due by the buyer. Payment of Proceeds to Overseas Sellers 34. If the seller resides outside Ireland the Proceeds of Sale shall be paid to such seller in Euros unless it was agreed with the seller prior to the auction that the Proceeds of Sale would be paid in a currency (other than Euros) specified by the sell- er in which case the Proceeds of Sale shall be paid by the Auctioneer to the seller in such specified currency (provided that the 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 Charges for Withdrawn Lots 35. Once catalogued, Lots withdrawn from sale before proof- ing/publication of Catalogue will be subject to commission of 5% of the Auctioneer’s latest estimate of the auction price of the Lot withdrawn together with VAT thereon and any expens- es incurred by the Auctioneer in relation to the Lot. If Lots are withdrawn after proofing or publication of Catalogue they will be subject to a commission of 10% of the Auctioneer’s latest estimate of the auction price of the Lot withdrawn together with VAT thereon and any expenses incurred by the Auction- eer in relation to the Lot. All commission hereunder must be paid for before Lots withdrawn may be removed. Unsold Lots 36 . 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 Auction- eer to the contrary) such Lot may, in the absolute discretion of the Auctioneer, be re-entered in the next suitable auction un- less instructions are received from the seller to the contrary, otherwise such Lots must be collected at the seller’s expense within the period of 30 days of such notification from the Auc- tioneer. 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 entitled to deduct from the price received for such Lots any sums owing to the Auc- tioneer in respect of such Lots including without limitation re- moval, 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. Photographs and Illustrations/Marketing Charges 37 . The seller authorises the Auctioneer to photograph and illustrate any Lot placed with it for sale and further authorises the Auctioneer to use such photographs and illustrations and any photographs and illustrations provided by the seller at any time in its absolute discretion (whether or not in connec- tion with the auction). Catalogue illustrations are included at the discretion of the Auctioneer. Marketing charges will be calculated as a scaled fee, working off the hammer price as per the table below. All prices are subject to VAT at the standard rate. €0-€500 hammer price €25 €501-€2999 hammer price €50 €3000 and above hammer price €100 Outlay Charges 38. Where additional costs from third parties have acrued from the handling and selling of a Lot, the seller authorises the Auctioneer to deduct these charges from the Total Amount Due. These charges include, but are not limited to, charges concerning carriage, restoration, framing and repair and are set by the third party. Where the Lot is not sold, these charges will be billed directly to the client. VAT 39 . It is presumed, unless stated to the contrary, that the items listed herein are auction scheme goods as defined in the Fi- nance Act 1995. Artist’s Resale Rights (Droit de Suite) 40 . Government Regulations (S.1. 312/2006) Under this legislation a royalty (droit de suite) is payable to living or deceased (up to 70 years from date of death) artists 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: 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 necessary to secure payment. Unless otherwise directed by the vendor, the Auctioneer will automatically deduct the amount due from the proceeds of sale and will hold in trust for the artist or their representative the said sum.