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Important Irish Art
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wednesday 1st April 2015 at 6pm
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Reserves
24.
Subject to the Auctioneer’s discretion, the seller shall be entitled prior to the auction to place a reserve on any Lot. All reserves
must be agreed in advance by the Auctioneer and entered on the Sale Order Form or subsequently be confirmed in writing to the
Auctioneer prior to auction.This also applies to changes in reserves. A reserve may not be placed upon any Lots under €500 in value.
The reserve shall be the minimum Hammer Price at which the Lot may be sold by the Auctioneer. A reserve once in place may only
be changed with the consent of the Auctioneer. A commission shall be charged on the ‘knock-down’ bid for Lots which fail to reach
the reserve price. Such commission shall be 5% of the ‘knock-down’ bid. This commission and any VAT payable thereon must be
paid before removal of the Lot after the auction. The minimum commission hereunder shall be €50. The Auctioneer may in its sole
discretion sell a Lot at a Hammer Price below the reserve therefore but in such case the Proceeds of Sale to which the seller shall be
entitled shall be the same as they would have been had the sale been at the reverse.
Unless a reserve has been placed on a Lot in accordance with the provisions set out above such Lot shall be put up for sale without
reserve.
In the event that any reserve price is not reached at auction then for so long as the Lot remains with the Auctioneer and to the extent
that the Lot has not been re-entered in another auction pursuant to condition 31 the seller authorises the Auctioneer to sell the Lot
by private treaty at not less than the reserve price. The Auctioneer shall ensure that in such a case those conditions herein which
concern mainly the buyer shall, with any necessary modification, apply to such sale.
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 Fine Art, Wine and Militaria Sales 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 control 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 1.5% 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 covered 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 hereunder
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 auction 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 theTotal 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 recover 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 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. 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 entitled to deduct from the price received for
such Lots any sums owing to the Auctioneer in respect of such Lots including without limitation removal, 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 provided by the seller at any time in its
absolute discretion (whether or not in connection with the auction).