Weekly Auctions of Exceptional Items
DoneSun, Sep 19, 2004 12:00 PM EDT
New York, NY, USA
Vallot's European & American Fine Art Auction
Vallot Auctioneers Fine American and European Paintings, Drawings, and Sculpture . New York . September 19, 2004
Previews: Friday, September 17th, 2004, 12:00 noon to 7:00 pm; and Saturday, September 18th, 2004, 11:00 am to 3:00 pm; at: Vallot Auctioneers, 504 Greenwich Street (between Canal & Spring Streets), New York, NY 10013 Phone: (212) 925-5533 On the day of the Auction, Sunday September 19th, 2004, 12:00 noon to 2:00 pm; at: The Salmagundi Club, 47 Fifth Avenue, New York, NY. Auction starts promptly at 2:00 pm.
504 Greenwich Street
New York, NY 10013
Terms & Conditions
TERMS AND CONDITIONS OF SALE The following Terms and Conditions shall be the only Terms and Conditions under which the property listed in this catalogue shall be sold: 1. A buyer’s premium will be added to the successful bid of each lot sold. The buyer’s premium is fifteen (15%) percent of the final bid price and shall be payable by the buyer along with all applicable sales tax. Payment may be made by cash, credit card, Visa, MasterCard, Discover Card, American Express or debit card. Payment by check is subject to our approval. 2. When bidding, a prospective buyer is acknowledging personal liability to pay the purchase price including the buyer’s premium and all applicable taxes. 3. The auctioneer shall have absolute discretion in accepting bids. In case of error or dispute the auctioneer may re-open the bidding and re-offer the item in dispute. 4. Vallot is acting as agent for the seller and as such the agreement of sale is between seller and buyer. We reserve the right to refuse admission to the sale and to reject any bid. 5. The buyer is obligated to make payment upon completion of the sale. We shall be entitled to retain any item sold until payment is made in full. We may at our discretion hold any item until clearance of funds has occurred. 6. If within seven (7) calendar days after the auction the buyer gives us notice in writing that a lot is not by the author identified in bold type in the written catalogue of sale only, which is designated, without qualification, to be the work of a named author (“author” refers to the creator of the property,) and providing the buyer returns the property to us in the condition purchased, within seven (7) calendar days thereafter, and providing the buyer provides us with a written opinion from a recognized expert declaring the work not to be by the author identified in bold type, then in that event only, we shall refund to the buyer the purchase price, premium and sales tax paid. Only that portion of the printed catalogue that identifies an author in bold type, without a qualifying statement, is being warranted (hereinafter "Limited Warranty of Authorship"). No other supplemental statements or writing contained in this catalogue or elsewhere or any other oral or written statements are warranted or represented. This Limited Warranty of Authorship does not apply to any author identified by a qualified opinion as specified in paragraph 8 below. Statements of qualified opinion include where the author’s name is followed by the term(s): “attributed to”, “after“ “school of” or other similar like qualification. This Limited Warranty of Authorship is not assignable and the buyer’s sole and exclusive remedy against Vallot and consignor is to cancel the sale and receive a return of the purchase price, buyer’s premium and any tax paid. In no event shall Vallot be liable for any actual or consequential damages. Vallot’s limited warranty as to authorship does not apply to the attribution of authorship of paintings, drawings, graphic art or sculpture created by artist’s working before 1850, as such attribution is based upon current scholarly opinion which may change. Authorship for works in bronze or other multiple medium means the works were cast or created under the supervision of the artist or their estate. 7. Except for the Limited Warranty of Authorship set forth in paragraph six (6) above all lots are sold “AS IS” and all sales are final. Neither the auctioneer, nor the seller, of the property make any guarantees, warranties or representations expressed or implied with respect to the property or the correctness of any catalogue or other description or the authenticity of authorship, physical condition, size, quality, rarity, importance, provenance, exhibitions, literature or historical relevance or otherwise. No statement anywhere, whether oral or written, shall be deemed such a guarantee, warranty or representation. Prospective bidders should inspect the property before bidding to determine the condition, size, and whether or not it has been repaired or restored. Neither the auctioneer nor the consignor make any representations that property sold hereunder may or may not require restoration and whether or not damage or defects, if any, are capable of restoration. Buyer’s are advised to seek the advice of an independent expert for advice regarding any questions they have regarding the property to be sold and the descriptions contained herein prior to bidding. All statements by us in the catalogue entry for the property, or made orally or in writing elsewhere, are statements of opinion and are not to be relied upon as statements of fact. Such statements do not constitute a representation, warranty or assumption of liability by us of any kind. The absence of a reference to condition does not imply the lot is free from damage or has not had previous restoration. Nor does the reference to a particular defect imply the absence of other defects. Estimates of selling price should not be relied upon as statement that this is the price at which the item will sell or its value or any other purpose. Neither Vallot nor the Consignor is responsible in any way for any errors or omissions in the catalogue or any supplemental materials. All dimensions are approximate and some lots have been measured without removing them from the frame. 8. Explanation of opinion and qualified opinion as to authorship: 1. Henri Matisse. In our opinion, the creator of the work was Henri Matisse. 2. Henri Matisse (attributed to)* In our qualified opinion the work is the period of the artist and may be the work of Henri Matisse. 3. Henri Matisse (after)* In our qualified opinion a work of the period of the artist by a student or follower of Henri Matisse. 4. Henri Matisse (school of)* In our qualified opinion a work by an artist influenced by Henri Matisse. *While use of this term is based upon careful examination and research, we assume no risk, liability or responsibility for the authenticity of authorship of any lot in this catalogue described by the term(s) so noted. Where no artist is specified but the work is identified by Country and period or other similar term, then our qualified opinion is that the work is, without certainty, but likely to originate from the geographic area noted and at approximately the time period stated. In no event shall our unqualified opinion as to authorship apply to works that are by artists working prior to 1850. Such works shall be sold without any warranty of authorship. 9. BIDDING INCREMENTS $ BID INCREMENTS $0 - $1,000 by $50’s $1000 - $2,000 by $100’s $2,000 - $3,000 by $200’s $3,000 - $5,000 by $200, $500 and $800 (i.e. $3,200, $3,500 and $3,800) $5,000 - $10,000 by $500's $10,000 - $20,000 by $1,000's $20,000 - $30,000 by $2,000's $30,000 - $50,000 by $2,000, $5,000 and $8000 $50,000 - $100,000 by $5,000's $100,000 and up by Auctioneer's Discretion 10. If a buyer fails to make a payment in full we shall be entitled to hold the defaulting buyer liable for the total amount due and to commence legal proceedings to collect same along with interest, at such a rate as we shall reasonably decide along with our fees and costs incurred in collecting same; or we may cancel the sale and sell the item immediately to another party. If the property shall be resold at a lesser sum to another party then the buyer shall be responsible for any deficiency between their purchase price and the resale price. 11. Unless otherwise indicated with the symbol next to the lot number and author, all lots are offered subject to a reserve, which is the confidential minimum price below which we will not sell the lot. The auctioneer may open bidding on any lot below the reserve by placing a bid on behalf of the seller up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to other bidders. In the event that bidding occurs, but the reserve is not met, the auctioneer will not declare the lot sold and the lot shall not be sold. Only when the auctioneer shall announce that a lot is sold shall that lot be deemed sold to the highest bidder. From time to time Vallot may offer for sale lots in which it has a partial or whole interest either by a guarantee, advance or by providing other financing to the Consignor; use of the • symbol next to that lot in the printed catalogue shall be used to indicate such a lot. 12. Any and all prior oral or written agreements shall be merged herein and these Terms and Conditions shall be the only such terms under which property shall be sold hereunder. This sale is governed and conducted under the laws of the State of New York and the City of New York. Any dispute arising hereunder shall be in exclusive jurisdiction in the Courts of the City and State of New York. No portion of this catalogue of sale may be reproduced without Vallot’s prior written consent.
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