Adam's THE LIBRARY COLLECTION 14th April 2021

160 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 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 min- imum 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 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 pro- visions 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 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 applica- ble rate. Minimum 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 Auction- eer in whatever 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 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 Auc- tioneer. 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 illus- trations: Scaled fee €100.00 for lots sold for €3,000.00 hammer price & over, €50.00 for lots sold under €3000.00 hammer price. Contemporary 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 Auctioneer that the Lot sold is a Forgery and the requirements of condition 20 are satisfied the Auc- tioneer shall rescind the sale and refund to the buyer any amount paid to the Auctioneer by the buyer in respect of the Lot. Payment of Proceeds of Sale 29 . The Auctioneer shall remit the Proceeds of Sale to the seller not later than thirty (30) days after the date of the auction, provided however that, if by that date, the Auctioneer has not received the Total Amount Due from the buyer then the Auctioneer shall remit the Proceeds of Sale within seven (7) working days after the date on which the Total Amount Due is received from the buyer. If credit terms have been agreed between the Auctioneer and the buyer the Auctioneer shall remit to the seller the Proceeds of Sale not later than thirty (30) days after the date of the auction unless otherwise agreed by the seller. If before the Total 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 the Auctioneer. If the buyer fails to pay the Auctioneer the Total Amount Due within fourteen (14) days after the date of the auction, the Auction- eer 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 the Total 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 the Total Amount Due, to remove, store and insure the Lot sold, to settle claims made by or against the buyer on such terms as the Auctioneer shall in its absolute discretion think fit, to take such steps as are necessary to collect monies due by the buyer to the seller and, if necessary, to rescind the sale and refund money to the buyer. Payment of Proceeds to Overseas Sellers 30 . If the seller resides outside Ireland the Proceeds of Sale shall be paid to such seller in Euro unless it was agreed with 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 Auc- tioneer by its bankers on the date of payment. All payment instructions must be in writing. Charges for Withdrawn Lots 31 . Once catalogued. Lots withdrawn from sale before proofing/publica- tion of Catalogue will be subject to commission of 5% of the Auctioneer’s latest estimate of the auction price of the Lot withdrawn together with VAT thereon and any expenses incurred by the Auctioneer in relation to the Lot. If Lots are withdrawn after proofing or publication of Catalogue they will be subject to a commission of 10% of the Auctioneer’s latest estimate of the auction price of the Lot withdrawn together with VAT thereon and any expenses incurred by the Auctioneer in relation to the Lot. All commission hereunder must be paid for before Lots withdrawn may be removed. Unsold Lots 32 . Where any Lot fails to sell at auction the Auctioneer shall notify the seller accordingly and (in the absence of agreement between the seller