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info@adams.ieDEFINITIONS AND GENERAL CONDITIONS
Definitions
1. In these conditions the following words and expressions shall have
the following meanings:
‘Auctioneer’
– James Adam & Sons.
‘Auctioneer’s Commission’
– The commission payable to the
Auctioneer by the buyer and seller as specified in conditions 13 and
25.
‘Catalogue’
– Any advertisement, brochure, estimate, price list or
other publication.
‘Forgery’
– A Lot which was made with the intention of deceiving
with regard to authorship, culture, source, origin, date, age or period
and which is not shown to be such in the description therefore in the
Catalogue and the market value for which at the date of the auction
was substantially less than it would have been had the Lot been in
accordance with the Catalogue description.
‘Hammer Price’
– The price at which a Lot is knocked down by the
Auctioneer to the buyer.
‘Lot’
– Any item which is deposited with the Auctioneer with a view
to its sale at auction and, in particular, the item or items described
against any Lot number in any Catalogue.
‘Proceeds of Sale’
– The net amount due to the seller being the
Hammer Price of the Lot after deducting the Auctioneer’s Commission
thereon under condition 25 the seller’s contribution towards insurance
under condition 26, such VAT as is chargeable and any other amounts
due by the seller to the Auctioneer in whatever capacity howsoever
arising.
‘Registration Form or Register’
– The registration form (or, in the
case of persons who have previously attended at auctions held by the
Auctioneer and completed registration forms, the register maintained
by the Auctioneer which is compiled from such registration forms) to
be completed and signed by each prospective buyer or, where the
Auctioneer has acknowledged pursuant to condition 12 that a bidder
is acting as agent on behalf of a named principal, each such bidder
prior to the commencement of an auction.
‘Sale Order Form’
– The sale order form to be completed and signed
by each seller prior to the commencement of an auction.
‘Total Amount Due’
– The Hammer Price of the Lot sold, the Auction-
eer’s Commission due thereon under condition 13, such VAT as is
chargeable and any additional interest, expenses or charges due
hereunder.
‘V.A.T.’
– Value Added Tax.
CATALOGUING PRACTICE AND CATALOGUE EXPLANATIONS
2. Terms used in Catalogues have the following meanings and the
Cataloguing Practice is as follows:
The first name or names and surname of the artist;
In the opinion of the Auctioneer a work by the artist.
The initials of the first name(s) and the surname of the artist;
In the opinion of the Auctioneer a work of the period of the artist and
which may be in whole or in part the work of the artist.
The surname only of the artist;
In the opinion of the Auctioneer a work of the school or by one of the
followers of the artist or in his style.
The surname of the artist preceded by ‘after’;
In the opinion of the Auctioneer a copy of the work of the artist.
‘Signed’/’Dated’/’lnscribed’;
In the opinion of the Auctioneer the work has been signed/dated/
inscribed by the artist.
‘With Signature’/’with date’/’with inscription’;
In the opinion of the Auctioneer the work has been signed/dated/
inscribed by a person other than the artist.
‘Attributed to’;
In the opinion of the Auctioneer probably a work of the artist.
‘Studio of/Workshop of’
In the opinion of the Auctioneer a work executed in the studio of the
artist and possibly under his supervision.
‘Circle of’;
In the opinion of the Auctioneer a work of the period of the artist and
showing his influence.
‘Follower of’;
In the opinion of the Auctioneer a work executed in the artist’s style yet
not necessarily by a pupil.
‘Manner of’;
In the opinion of the Auctioneer a work executed in artist’s style but
of a later date.
‘*’;
None of the terms above are appropriate but in the Auctioneer’s
opinion the work is a work by the artist named.
GENERAL CONDITIONS
Auctioneer Acting as Agent
3. The Auctioneer is selling as agent for the seller unless it is specif-
ically stated to the contrary. The Auctioneer as agent for the seller is
not responsible for any default by the seller or the buyer.
Auctioneer Bidding on behalf of Buyer
4. It is suggested that the interests of prospective buyers are best
protected and served by the buyers attending at an auction. However,
the Auctioneer will, if instructed, execute bids on behalf of a prospec-
tive buyer. Neither the Auctioneer nor its employees, servants or
agents shall be responsible for any neglect or default in executing bids
or failing to execute bids.
Admission to Auctions
5
.
The Auctioneer shall have the right exercisable in its absolute
discretion to refuse admission to its premises or attendance at its
auctions by any person.
Acceptance of Bids
6
.
The Auctioneer shall have the right exercisable in its absolute
discretion to refuse any bids, advance the bidding in any manner it
may decide, withdraw or divide any Lot, combine any two or more
Lots and, in the case of a dispute, to put any Lot up for auction again.
Indemnities
7. Any indemnity given under these conditions shall extend to
all actions, proceedings, claims, demands, costs and expenses
whatever and howsoever incurred or suffered by the person entitled
to the benefit of the indemnity and the Auctioneer declares itself to
be a trustee of the benefit of every such indemnity for its employees,
servants or agents to the extent that such indemnity is expressed to
be for their benefit.
Representations in Catalogues
8
.
Representations or statements made by the Auctioneer in any
Catalogue as to contribution, authorship, genuineness, source, origin,
date, age, provenance, condition or estimated selling price or value is
a statement of opinion only. Neither the Auctioneer nor its employees,
servants or agents shall be responsible for the accuracy of any such
opinions. Every person interested in a Lot must exercise and rely on
their own judgment and opinion as to such matters.
9. The headings of the conditions herein contained are inserted for
convenience of reference only and are not intended to be part of, or to
effect, the meaning or interpretation thereof.
Governing Law
10
.
These conditions shall be governed by and construed in
accordance with Irish Law.
Notices
11. Any notice or other communication required to be given by the
Auctioneer hereunder to a buyer or a seller shall, where required, be
in writing and shall be sufficiently given if delivered by hand or sent by
post to, in the case of the buyer, the address of the buyer specified
in the Registration Form or Register, and in the case of the seller, the
address of the seller specified in the Sale Order Form or to such other
address as the buyer or seller (as appropriate) may notify the Auction-
eer in writing. Every notice or communication given in accordance
with this condition shall be deemed to have been received if delivered
by hand on the day and time of delivery and if delivered by post three
(3) business days after posting.
The Buyer
12. The buyer shall be the highest bidder acceptable to the Auctioneer
who buys at the Hammer Price. Any dispute which may arise with
regard to bidding or the acceptance of bids shall be settled by the
Auctioneer. Every bidder shall be deemed to act as principal unless
the Auctioneer has prior to the auction, acknowledged in writing that a
bidder is acting as agent on behalf of a named principal.
Commission
13. The buyer shall pay the Auctioneer a commission at the rate of
20%, exclusive of V.A.T..
Payment
14. Unless credit terms have been agreed with the Auctioneer before
the auction the buyer of a Lot shall pay to the Auctioneer within one
(1) day from the date of the auction the Total Amount Due. Notwith-
standing this, the Auctioneer may, in its sole discretion, require a buyer
to pay a deposit of 25% of the Total Amount Due at the conclusion
of the auction.
The Auctioneer may apply any payments received by a buyer towards
any sums owing from that buyer to the Auctioneer on any account
whatever regardless of any directions of the buyer or his agent in that
General Terms and Conditions of Business
The Auctioneer carries on business on the following terms and conditions and on such other terms or conditions as may be expressly agreed with the Auctioneer or set out in any relevant Catalogue. Conditions 12-21
relate mainly to buyers and conditions 22-32 relate mainly to sellers. Words and phrases with special meanings are defined in condition 1. Buyers and sellers are requested to read carefully the Cataloguing Practice and
Catalogue Explanation contained in condition 2.