ADAM'S - Important Irish Art Auction - 31st May 2017 (Click Lot title for more images and to Place Bid)

210

(ii) The only method of establishing at the time of the auction

in question that the Lot was a Forgery would have been

by means of scientific processes which were not generally

accepted for use until after the date of the auction or which

were unreasonably expensive or impractical.

The buyer’s sole entitlement under this condition is to a

refund of the actual amount paid by him in respect of the

Lot. Under no circumstances shall the Auctioneer be liable

for any damage, loss (including consequential, indirect or

economic loss) or expense suffered or incurred by the buyer

by reason of the Lot being a Forgery.

The benefit of this condition shall be solely and exclusively

for the buyer and shall not be assignable. The buyer shall

for the purpose of this condition be the person to whom the

original invoice in respect of the sale of the Lot is made.

Photographs

. The buyer authorises the Auctioneer at any time to make

use of any photographs or illustrations of the Lot purchased

by the buyer for such purposes as the Auctioneer may

require.

. New VAT Regulations

22a) All lots are sold within the Auctioneer’s VAT margin

scheme. Revenue Regulations require that the buyers premi-

um must be invoiced at a rate which is inclusive of VAT. This

VAT is not recoverable by any VAT registered buyer.

CONDITIONS WHICH MAINLY CONCERN THE SELLER

Auctioneer’s Discretion

. With regard to the sale of any Lot the Auctioneer shall

have the following powers exercisable solely in the discretion

of the Auctioneer:

(i) To decide whether to offer any Lot for sale or not;

(ii) To decide whether a particular Lot is suitable for sale by

the Auctioneer and, if so, to determine which auction, the

place and date of sale, the conditions of sale and the manner

in which such sale should be conducted;

(iii) To determine the description of any Lot in a Catalogue.

(iv) To decide whether the views of any expert shall be

obtained and to submit Lots for examination by any such

experts.

(v) To determine what illustration of a Lot (if any) is to be

included in the Catalogue.

Seller’s Warranty and Indemnity

. The seller warrants to the Auctioneer and to the buyer

that he is the true owner of the Lot or is legally authorised

to sell the Lot on behalf of the true owner and can transfer

good and marketable title to the Lot free from any third

party claims. As regards Lots not held by the Auctioneer on

its premises or under its control the seller warrants and un-

dertakes to the Auctioneer and the buyer that the Lot will be

available and in a deliverable state on demand by the Auc-

tioneer or buyer. The seller shall indemnify the Auctioneer

and the buyer or any of their respective employees, servants

or agents against any loss or damage suffered by any of

them in consequence of any breach of the above warranties

or undertakings by the seller.

Reserves

. 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 con-

firmed 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 €150 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 Auction-

eer may in its sole discretion sell a Lot at a Hammer Price

below the reserve thereon 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 modifica-

tion, apply to such sale.

Commission

26.

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 all other Sales

together with VAT thereon at the applicable rate. Mini-

mum charges are detailed below. 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 howsoev-

er arising. The seller agrees that the Auctioneer may also

receive commission from the buyer pursuant to condition 13.

Minimum Charges: Each individual lot is subject to a min-

imum fee of €3.00 plus VAT, with a minimum charge per

account of €50.00 plus VAT.

Insurance

. Unless otherwise instructed by the seller, all Lots (with

the exception of motor vehicles) deposited with the Auction-

eer 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.

Illustration Charges:

27a

. 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 all other sizes. Fine art illustrations: Scaled

fee €100.00 for lots sold for €3,000.00 hammer price & over,

€50.00 for lots sold under €3000.00 hammer price. Contem-

porary picture illustrations: €25.00 per illustration. All lots

illustrated and not sold are charged at €25.00 per illustration.

Recision of Sale

28.

If before the Auctioneer has paid the Proceeds of Sale

to the seller the buyer proves to the satisfaction of the Auc-

tioneer 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.