Adam's Online Fine Vintage Wines & Spirits 9th-18th December 2022

Fine Vintage Wines & Spirits 63 Liability of Auctioneer and Seller 19. 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 judgment, satisfied himself as to the physical condition, age and Catalogue description of each Lot (including but not restricted to whether the Lot is dam- aged or has been repaired or restored). All Lots are sold with all faults and imperfections and errors of description. None of the sell- er, the Auctioneer nor any of their employees, servants or agents shall be responsible for any error of description or for the condi- tion 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 20. Any amount paid by a buyer in respect of a Lot which, if it is proved within three (3) years of the date of the auction at which it was purchased, to have been a Forgery shall be refunded to the seller subject to the provisions hereof, provided that: (a) The Lot has been returned by the buyer to the Auctioneer within three (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 Forgery, 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 from any third party claims; FURTHER PROVIDED THAT the buyer shall have no rights hereunder 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 scholars 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 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 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 con- dition be the person to whom the original invoice in respect of the sale of the Lot is made. Photographs 21 . 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. 22 . New VAT Regulations 22a) All lots are sold within the Auctioneer’s VAT margin scheme. Revenue Regulations require that the buyers premium 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 23 . 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. Seller’s Warranty and Indemnity 24 . 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 undertakes to the Auctioneer and the buyer that the Lot will be available and in a deliverable state on demand by the Auctioneer 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 25 . 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 €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 hereun- der shall be €50. The Auctioneer 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 pri- vate 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 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. Minimum charges are detailed below. The seller authorises the Auctioneer to deduct from the Hammer Price paid by the buyer the Auc- tioneer’s Commission under this condition; VAT payable at the applicable rates and any other amounts due by the seller to the Auctioneer in what- ever capacity howsoever 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 minimum fee of €3.00 plus VAT, with a minimum charge per account of €50.00 plus VAT. Insurance 27 . 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