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 Lotswhich are not sold, on
the expiry of seven (7) days from the date onwhich theAuctioneer has notified the seller to collect the Lots.
Recisionof Sale
27
. 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
Auctioneer 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
28.
The Auctioneer shall remit the Proceeds of Sale to the seller not later than thirty (30) days after the date
of the auction, providedhowever that, if by that date, theAuctioneer has not received theTotal AmountDue
from the buyer then the Auctioneer shall remit the Proceeds of Sale within seven (7) working days after the
date onwhich theTotal Amount Due is received from the buyer. If credit terms have been agreed between
theAuctioneer and the buyer theAuctioneer shall remit to the seller theProceeds of Salenot 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 the buyer fails topay theAuctioneer theTotal AmountDuewithin fourteen (14) days after the date of the
auction, the Auctioneer 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 AmountDue from the buyer provided that nothingherein shall oblige
theAuctioneer to issue proceedings against the buyer in theAuctioneer’s ownname. If circumstances donot
permit the Auctioneer to take instructions from the seller or, if after notifying the seller, it does not receive
instructions within seven (7) days, theAuctioneer 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
theLot sold, to settle claimsmadebyor against thebuyer on such terms as theAuctioneer shall in its absolute
discretion think fit, to take such steps as are necessary to collectmonies 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 IrishPunts unless it
was agreedwith the seller prior to the auction that the Proceeds of Sale would be paid in a currency (other
than Irish Punts) 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
commissionof 5%of theAuctioneer’s latest estimate of the auctionprice of theLotwithdrawn togetherwith
VAT thereon and any expenses incurredby theAuctioneer in relation to the Lot. If Lots arewithdrawn 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 with VAT 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 absence
of agreement between the seller and theAuctioneer to the contrary) suchLotmay, in the absolute discretion
of theAuctioneer, be re-entered in the next suitable auctionunless instructions are received from the seller to
the contrary, otherwise suchLotsmust be collected at the seller’s expensewithin theperiodof 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 todeduct from the price received for suchLots any sums owing to theAuctioneer 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
together with 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 the name of theAuctioneer for the seller. Any deficit arising
shall be due from the seller to theAuctioneer. AnyLots 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 theAuctioneer touse suchphotographs and illustrations and anyphotographs and illustra-
tions provided by the seller at any time in its absolute discretion (whether or not in connection with the
auction).
Catalogue illustrations are included at the discretionof theAuctioneer. Illustration chargeswill 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, €50.00 other sizes. Fine Art Illustrations: Scaled fee: €100.00 for lots sold for
€3,000.00 and over, hammer price, €50.00 for lots sold under €3,000.00 hammer price. All other sales:
€25.00per illustration. All lots illustrated andnot sold are charged €25.00per illustration.
VAT
34.
It is presumed, unless stated to the contrary, that the items listed herein are auction scheme goods as
defined in the FinanceAct 1995.
35. Artist’sResaleRights (Droit de Suite)
Government Regulations (S.1. 312/2006)
Under this legislation a royalty (droit de suite) is payable to artists or the artist’s heirs (if deceased in the last
70 years) of E.U. Nationality on all works resold for €3,000 or more, other than those sold by the artist or
the artist’s agent.
The resale royaltypayable is calculated as follows:
__________________________________________
From €3,000 to €50,000 4%
From €50,000.01 to €200,000 3%
From €200,000.01 to €350,000 1%
From €350,000.01 to €500,000 0.5%
Exceeding €500,000 0.25%
The total amount of royalty payable on any individual sale shall not exceed €12,500The seller is liable for
payment (paragraph 7.1 ofGovernment Regulations (S.1. 312/2006) of this royalty
on completion of the sale. The artist may request from the Auctioneer any information necessary to secure
payment.
The Auctioneer will automatically deduct the amount due from the proceeds of sale and will hold in trust
for the artist, their heirs or their representative for a period of 3 years from the date of sale. A vendor may
choose to check the ARRWaiver on the Sale Receipt Contract indicating that they accept sole responsibility
for the payment and authorises the Auctioneers to disclose their contact details to the artist, their heirs or
their representative.
