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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 SaleOrder Form or subsequently be confirmed inwriting to the
Auctioneerprior to auction.This also applies to changes in reserves.A reservemaynot beplacedupon anyLotsunder€500 invalue.
The reserve shall be theminimumHammer Price atwhich theLotmaybe soldby theAuctioneer. A reserve once inplacemay only
be changedwith the consent of theAuctioneer. A commission shall be chargedon the ‘knock-down’ bid for Lotswhich fail to reach
the reserve price. Such commission shall be 5% of the ‘knock-down’ bid. This commission and anyVAT payable thereonmust be
paidbefore removal of theLot after the auction.Theminimum commissionhereunder shall be €50.TheAuctioneermay in its sole
discretion sell a Lot at aHammer Price below the reserve therefore but in such case the Proceeds of Sale towhich the seller shall be
entitled shall be the same as theywouldhave beenhad the sale been at the reverse.
Unless a reserve has been placed on a Lot in accordancewith the provisions set out above suchLot shall be put up for salewithout
reserve.
In the event that any reserveprice is not reached at auction then for so long as theLot remainswith theAuctioneer and to the extent
that the Lot has not been re-entered in another auctionpursuant to condition31 the seller authorises theAuctioneer 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
concernmainly the buyer shall, with any necessarymodification, apply to such sale.
Commission
25.
The seller shall pay theAuctioneer commission at the rate of 10%on theHammer Price of all Lots soldonbehalf of the seller at
IrishArt Sales and17.5%on theHammerPriceof all Lots soldonbehalf of the seller at FineArt,Wine andMilitariaSales together
withV.A.T. thereon at the applicable rate.The seller authorises theAuctioneer todeduct from theHammer Price paidby the buyer
theAuctioneer’sCommissionunder this condition; VATpayable at the applicable rates and any other amounts due by the seller to
theAuctioneer inwhatever capacity howsoever arising.The seller agrees that theAuctioneermay 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) depositedwith the Auctioneer or put
under its control for sale shall automatically be insured by theAuctioneer under theAuctioneer’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 theHammer Price plusVAT. If the seller instructs theAuctioneer 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 reliedupon 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 soldwhich are not paid for or collected by the buyer by the due date hereunder
for payment or collection suchdue date or, in the case of Lots which are not sold, on the expiry of seven (7) days from the date on
which theAuctioneer has notified the seller to collect the Lots.
Recisionof Sale
27
. If before theAuctioneer has paid the Proceeds of Sale to the seller the buyer proves to the satisfactionof theAuctioneer that the
Lot sold is aForgery and the requirements of condition20 are satisfied theAuctioneer shall rescind the sale and refund to the buyer
any amount paid to theAuctioneer by the buyer in respect of the Lot.
Payment of Proceeds of Sale
28.
TheAuctioneer shall remit theProceeds of Sale to the seller not later than thirty (30) days after thedateof the auction, provided
however that, if by that date, theAuctioneer has not received theTotal AmountDue from the buyer then theAuctioneer shall remit
the Proceeds of Sale within seven (7) working days after the date on which theTotal Amount Due is received from the buyer. If
credit terms have been agreedbetween theAuctioneer and the buyer theAuctioneer shall remit to the seller theProceeds of Sale not
later than thirty (30) days after the date of the auctionunless otherwise agreed by the seller.
If before theTotal 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 theAuctioneer.
If thebuyer fails topay theAuctioneer theTotalAmountDuewithin fourteen (14) days after thedateof the auction, theAuctioneer
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 theTotal 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 theTotal AmountDue, to remove, store and insure the Lot sold, to settle claimsmade by or
against thebuyer on such terms as theAuctioneer shall in its absolutediscretion think fit, to take such steps as arenecessary to collect
monies due by the buyer to the seller and, if necessary, to rescind the sale and refundmoney to the buyer.
Payment of Proceeds toOverseas Sellers
29.
If the seller resides outside Ireland the Proceeds of Sale shall be paid to such seller in Euro unless it was agreedwith 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 forWithdrawnLots
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 withVAT thereon and any expenses incurred
by the Auctioneer in relation to the Lot. If Lots are withdrawn after proofing or publication of Catalogue theywill be subject to a
commission of 10% of the Auctioneer’s latest estimate of the auction price of the Lot withdrawn together withVAT thereon and
any expenses incurred by the Auctioneer in relation to the Lot. All commission hereundermust be paid for before Lots withdrawn
may be removed.
UnsoldLots
31.
Where anyLot fails to sell at auction theAuctioneer shall notify the seller accordingly and (in the absenceof agreement between
the seller and the Auctioneer to the contrary) such Lotmay, 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 suchLotsmust be collected at the seller’s
expensewithin the period of thirty (30) days of suchnotification from theAuctioneer.
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 discretionmay 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 togetherwith 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 thename of theAuctioneer for the seller. Anydeficit 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 andwill not be insured
in transit unless theAuctioneer is so instructed by the seller.
Auctioneer’sRight toPhotographs and Illustrations
32.
The seller authorises the Auctioneer to photograph and illustrate any Lot placed with if for sale and further authorises the
Auctioneer touse suchphotographs and illustrations and any photographs and illustrations providedby the seller at any time in its
absolute discretion (whether or not in connectionwith the auction).
