Adam's IMPORTANT IRISH ART Auction Wednesday 24th March 2021
158 CONDITIONS 17-22 (INCLUSIVE) PREDOMINANTLY CONCERN THE BUYER Non-Payment or Failure to Collect Purchased Lots 17. If a buyer fails to pay for and/or collect any purchased Lot by the dates herein specified for payment and collection the Auctioneer shall, in its absolute discretion and without prejudice to any other rights or remedies it may have, be entitled to exercise one or more of the following rights or remedies without further notice to the buyer: (a) To issue court proceedings for damages for breach of contract. (b) To rescind the sale of that Lot or any other Lots sold to the buyer whether at that or any other auction. (c) To resell the Lot or cause it to be resold whether by public auction or private sale. In the event that there is a deficiency between the Total Amount Due by the buyer and the amount received by the Auctioneer on such resale after the deduction of any necessary expenses the difference shall be paid to the Auctioneer by the buyer. Any surplus arising shall belong to the seller. (d) To store (whether at the Auctioneer’s premises or elsewhere) and in- sure the purchased Lot at the expense of the buyer. (e) To charge interest on the Total Amount Due at the rate of 2% over and above the base interest rate from time to time of Bank of Ireland or if there be no such rate, the nearest equivalent thereto as determined by the Auctioneer in its absolute discretion from the date on which the payment is due hereunder to the date of actual payment. (f) To retain that Lot or any other Lot purchased by the buyer whether at the same or any other auction and release same to the buyer only after payment to the Auctioneer of the Total Amount Due. (g) To apply sums which the Auctioneer received in respect of Lots being sold by the buyer towards settlement of the Total Amount Due. (h) To exercise a lien on any property of the buyer in the possession of the Auctioneer for whatever reason. Liability of Auctioneer and Seller 18 . Prior to auction ample opportunity is given for the inspection of the Lots on sale and each buyer by making a bid acknowledges that he has, by exercising and relying on his own judgement, satisfied himself as to the physical condition, age and Catalogue description of each Lot (includ- ing but not restricted to whether the Lot is damaged or has been repaired or restored). All Lots are sold with all faults and imperfections and errors of description. None of the seller, the Auctioneer nor any of their employ- ees, servants or agents shall be responsible for any error of description or for the condition or authenticity of any Lot. No warranty whatsoever is given by the seller or Auctioneer or by any of their employees, servants or agents in respect of any Lot and any condition or warranty express or implied by statute or otherwise is hereby specifically excluded. Forgeries 19. Any amount paid by a buyer in respect of a Lot which, if it is proved within 3 years of the date of the auction at which it was purchased, to have been a Forgery shall be refunded by the seller subject to the provi- sions hereof, provided that: (a) The Lot has been returned by the buyer to the Auctioneer within 3 years of the date of the auction in the same condition in which it was at the time of the auction together with evidence proving that it is a Forg- ery, the number of the Lot and the date of the auction at which it was purchased; (b) The Auctioneer is satisfied that the Lot is a Forgery and that the buyer has and is able to transfer good and marketable title to the Lot free form any third party claims; FURTHER PROVIDED THAT t he buyer shall have no rights here under if: (i) The description of the Lot in the Catalogue at the time of the auction was in accordance with the then generally accepted opinion of the schol- ars or experts or fairly indicated that there was a conflict of such opinion; (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 pro- cesses which were not generally accepted for use until after the date of the auction or which were unresonably expensive or impratical. 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 consequen- tial, 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 20. 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 21. All lots are sold within the Auctioneer’s VAT margin scheme. Revenue Regulations require that the buyer’s premium must be invoiced at a rate which is inclusive of VAT. This VAT is not recoverable by any VAT registered buyer. Buyer’s Premium 22. The Auctioneer may also charge a fee to the purchaser “the buyer’s premium”. The buyer’s premium is a commission paid by the buyer to the Agent in addition to the sale price. The standard buyer’s premium shall be 25% inclusive of VAT, and may be subject to change. Internet Bidding 23. These terms and conditions apply to all internet bidding at sales con- ducted by, or in conjunction with, Adam’s, covering both live auctions and online-only timed auctions. Internet bidding conditions are in conjunc- tion to those which are covered in our General Terms and Conditions of Business. Registration Before you can bid via Internet Bidding, you must register to bid online by signing up for a ‘My Adam’s’ account. Bidders must be registered at least 24 hours prior to the start of any Sale or you may not be able to bid online in that Sale. You will be liable for any and all bids made via your account. Internet Bidding Process Each bid made online shall be final and binding as soon as you click the Bid button. The bidder holds sole responsibility for any bid submitted, including those made in error, and will be held liable for the full payment and collection of the lot if named the winning bidder. In the event of a tie between a bid placed by you online and any other identical bid(s) (including bids made in person at the Sale, telephone bids, absentee bids, and other internet bids), it will be at the auctioneer’s dis- cretion as to which bid shall be accepted. Adam’s reserves the right to reject a registration to bid online, withdraw its permission for you to use Internet Bidding, or terminate an Internet Bidding account, for any reason at any time prior to, during or after a Sale without prior notice. If you choose to use the Internet Bidding service, you do so entirely at your own risk. Adam’s does not take responsibility for any issues regard- ing internet bidding functionality or delays which may occur due to soft- ware or hardware complications. CONDITIONS 24-40 (INCLUSIVE) PREDOMINANTLY CONCERN THE SELLER Auctioneer’s Discretion 24. With regard to the sale of any Lot the Auctioneer shall have the follow- ing 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 con- ditions 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.