Modern and Contemporary Art Auction

TERMS AND CONDITIONS I. DEFINITIONS: Auction House ? Libra Dom Aukcyjny spolka z ograniczona odpowiedzialnoscia [Libra Auction House limited liability company] headquartered in Warsaw, at 49 Emilia Platter Street, 00-125 Warsaw, entered into the Register of Entrepreneurs of the National Court Register kept by the District Court for the Capital City of Warsaw in Warsaw, 12th Commercial Department of the National Court Register under the number KRS 0000642622, with the number of NIP [Tax Identification Number]: 7010624059 and REGON [Statistical Identification Number] 365672461, with the share capital of PLN 338.000,00, Terms and Conditions ? these terms and conditions of the auction of the Auction House, Auctioneer ? a person authorised to conduct the auction, Object ? a work of art or other collector?s Object being a subject matter of sale, Minimum price ? a price for which the owner of the Object agreed to sell it, known only to the Auction House / Auctioneer, Starting price ? a price from which the Auctioneer starts the auction of the Object; the starting price cannot be lower than the Minimum price; Seller ? a person handing an Object over for sale, Auction?s Participant ? a person participating in the auction, Contract ? a sales contract concluded at the moment of a gavel strike (upon the grant of adjudication in the meaning of Article 702 § 2 of the Civil Code) or sales contract concluded in a non-auction sale, Purchaser ? a person who concluded the Contract with the Auction House, Working day ? a day from Monday to Friday between 9:00 and 20:00 (Poland?s time), excluding public holidays, Service Provider ? an entity which allows for the participation in the Internet auction on the basis of the contract concluded with the Auction House. II. GENERAL PROVISIONS 1. The organiser of the auction is the Auction House. The Auction House shall determine the date, time and place of the auction. The Auction House reserves the right to call off the auction without providing reasons. 2. The subject matter of the auction includes the Objects handed over by the Sellers for commission sale or owned by the Auction House. 3. In accordance with the Seller?s declaration, the Object handed over for commission sale is fully owned by him/her or the Seller has the right of disposal of the Object, in addition, the Object is not covered by any court or administrative proceedings and it is not encumbered by any rights and claims of third parties. 4. The Object put up for auction has a Starting price specified in the catalogue. 5. The Minimum price determined by the Seller is known only to the Auction House / Auctioneer and constitutes a trade secret. 6. The Auction House reserves the right to withdraw the Object from sale without providing reasons and without incurring of any liability on this account. 7. The Auction House, after sale of the Object, is entitled to dispose of an image of the Object sold, including the technical data of the Object and the achieved sale price of The Object, on a basis of non-exclusive license, not limited in time and place, for marketing, promotional and scientific purposes, therefore, the Auction House retains entitlement to publish the Object?s image in the digital and printed publications as well as on the Internet. III. PRESENTATION OF THE OBJECTS 1. The Objects shall be presented in the catalogues prepared by the Auction House. The content of a catalogue may be modified by the Auction House or Auctioneer before the commencement of the auction. 2. The Auction House performs a valuation and guarantees an adequate catalogue description of the Object handed over for sale. 3. The catalogue descriptions of the Objects put for auction shall be prepared in the utmost good faith using the experience and expertise of the Auction House?s employees or of the experts cooperating with the Auction House. 4. All the Objects being sold at the auction can be viewed within 14 days before the auction at a place of their exposition indicated by the Auction House. 5. The Auction House shall sell the Object in a condition in which it is delivered by the Seller. Within the period, referred to in item 4, the Auction House shall make it possible to view the Object and to consult a conservator about the conservation status of the Object. The Auction House does not accept complaints based on the conservation status of the Object. IV. REGISTRATION 1. The registration of the customer by the Auction House is a condition to participate in the auction personally; place and order of auction with limit or take part in a telephone auction or Internet auction in case the latter is launched by the Auction House on its own platform. 2. Only a person of full age can be registered. The registration shall consist in filling out a registration form. The employee carrying out the registration may ask to present a document confirming the identity of the person being registered (identity card, passport). 3. The customer registered by the Auction House shall receive the customer number and identification password. 4. Until the time the Auction House is notified of disclosure of an identification password by the customer to unauthorised persons, the Auction House shall not be liable for the consequences of such disclosure. 5. At the time of registration and in situations, referred to in items VI, VII and VIII, the Auction House reserves the right to verify the credit card number, request to give reliable references or pay an auction deposit which is returned if the purchase is not made. If the customer prevents the Auction House from carrying out such verification, the Auction House has the right to refuse the registration or prevent the customer from participating in the auction. 6. The personal data of the customers are collected and processed to the extent described in item 7. Furthermore, in case of the customers? relevant consent the personal data can be collected and processed ? on a voluntary basis ? for other purposes determined by the customer in the declaration retarding the consent to processing of personal data. 7. In accordance with Article 23 paragraph 1 item 3) of the Act of 29 August 1997 on personal data protection (consolidated text: Journal of Laws of 2016, item 922), the personal data can be processed if this is necessary to perform the contract if the data subject is a party or if it is necessary to take action before the conclusion of the contract at the request of the data subject. 8. The Customer has the right to access the contents of the personal data at the premises of the Auction House, to correct them as well as request discontinuation of their processing due to a special situation. 9. The customer accepts the Terms and Conditions by the signature of the registration form. V. CONDUCT OF THE AUCTION 1. The auction is conducted, in accordance with the Polish law, by the Auctioneer who acts on behalf of and for the account of the Auction House. 2. The Auctioneer has the right to arbitrary combine and separate the Objects, change the sequence of the auction, withdraw the Objects from the auction or introduce the new ones without providing reasons. The Auctioneer announces every time the decision referred to above. 3. The Objects shall be auctioned from the Starting price up. The Auction House reserves the right to change the Starting price prior to the auction. 4. The increment in the auction amounts to about 10 % of the previous offer. The amount of the increment expressed in PLN shall be determined by the Auctioneer informing of each change of the increment amount during the auction. 5. The completion of the auction of a specific Object shall take place at the moment of a gavel strike made by the Auctioneer. The gavel strike is equivalent to the conclusion of the Contract between the Auction House and the Purchaser. After the completion of the auction the Purchaser is entitled to collect the confirmation of the concluded transactions, and after the payment ? to collect the Object. 6. The auction shall be conducted in Polish. At the request of the auction?s Participant some auctions can be conducted concurrently in English. Such requests should be submitted to the Auction House not later than 1 Working day before the auction together with information about the Objects to which the request relates. The final decision shall be made by the Auction House. 7. In case of a dispute arisen during the auction the Auctioneer shall settle the dispute or repeat the auction of the Object. 8. The Auction House reserves the right to record the conduct of the auction using technical equipment recording images and sound and to archive records for the purposes connected with the internal function of the Auction House and settlement of the disputes. VI. PERSONAL PARTICIPATION IN THE AUCTION 1. The persons who meet the following conditions can participate in the auction in person: a) they are registered by the Auction House and b) they filled out a form of participation in the auction. 2. Before the commencement of the auction the Auction House shall give the Participant an auction plate with auction number. Immediately after the end of the auction the auction?s Participant shall be obliged to return the plate with auction number. 3. The Auction House has the right to prevent the auction?s Participant who violated the provisions of the Terms and Conditions or who did not adhere to the Auctioneer?s decision from participating in the auction or excluding him/her from the specific auction. VII. TELEPHONE BIDDING 1. The persons who meet the following conditions can participate in the auction using a telephone: a) they are registered by the Auction House and b) they filled out a form of auction order. 2. In the form of auction order the Auction?s Participant indicates the Object which he/she wants to auction and the telephone number at which the Auction House?s employee will call before the commencement of the auction. The form of auction order is available at the premises of the Auction House, on the Auction House?s website and also published in the auction catalogue. 3. The form should be submitted to the Auction House in person or its signed scan, together with a document confirming the identity, should be sent by e-mail not later than 1 Working Day before the commencement of the auction. The Auction House may agree to submit in other way. 4. The Auction House may refuse to participate in the telephone auction if the number of notifications exceeds the foreseen technical capacity. In such a case, the participation in the telephone auction is determined by the sequence of the notifications. 5. The Auction House?s employee shall connect with the auction?s Participant before the commencement of the auction of the selected Objects. After the establishment of the telephone connection the Auction House?s employee shall ask the auction?s Participant to mention his/her forename, surname and a password specified in the form. 6. The Auction House may refuse to participate in the telephone auction if there is any doubt as to the identity of the person placing an order. 7. The Auction House shall not be liable for the inability to participate in the auction as a consequence of the problems with the establishment of the connection or its quality not attributable to the Auction House. The Auction House shall not be liable for the refusal to participate in the auction for reasons specified in item 4. 8. At the request of the auction?s Participant the telephone auction can be conducted in English or in the other language after prior agreement with the Auction House. Such requests should be submitted to the Auction House not later than 1 Working day before the auction. The final decision shall be made by the Auction House. 9. The Auction House shall not charge any additional fees for the telephone bidding. 10. The Auction House shall record and archive the telephone conversation with the auction?s Participants referred to above. VIII. ORDER OF AUCTION WITH LIMIT (ABSENTEE BIDDING) 1. The persons who meet the following conditions can place an order of auction with limit (absetnee bid) by the Auction House on behalf of the customer: a) they are registered by the Auction House and b) they filled out a form of auction order. 2. The form of auction order is available at the premises of the Auction House, on the Auction House?s website and also published in the auction catalogue. 3. In the form of auction order the Auction?s Participant indicates the Objects which he/she wants to auction and the maximum offered amounts. 4. The form should be submitted to the Auction House in person or its signed scan, together with a document confirming the identity, should be sent by e-mail not later than 1 Working Day before the commencement of the auction. The Auction House may agree to submit in other way. 5. The Auction House will auction to the indicated limit, determined in the order form. The maximum amount constitutes a trade secret. The Auction House shall use its best endeavours to purchase the Object at the lowest possible price, below the limit determined by the customer. 6. The Auction House does not accept orders without limit. IX. INTERNET AUCTION 1. The Auction House may offer the opportunity to participate in the auction on the Internet in real time (public auction) through the Internet auction portal selected by the Auction House or on its own platform. 2. The registration on the website indicated by the Auction House not later than 2 Working days before the commencement of the auction and the positive verification carried out by the Auction House are the conditions to participate in the Internet auction. The Auction House may depart from the afore-mentioned time limit. 3. At the time of verification, referred to in item 2, the Auction House may ask to present a document confirming the identity of the person being registered (identity card, passport). The Auction House reserves the right to verify the credit card number, request to give reliable references or pay an auction deposit which is returned if the purchase is not made. If the customer prevents the Auction House from carrying out such verification, the Auction House has the right to refuse the registration or prevent the customer from participating in the Internet auction. 4. During the auction the Auction House?s employee or the Service Provider?s employee present in the room shall provide the current offers placed in the room to the Internet auction?s Participants, inform the Auctioneer of the offers placed via the Internet, open and close (according to the Auctioneer?s action) subsequent auctions. 5. During the auction the Auctioneer shall take into account, equally with the offers placed in the room, the offers of the Internet auction?s Participants submitted by the Auction House?s employee or the Service Provider?s employee. 6. After the completion of the auction the Auction?s Participant who bid the Object will receive the e-mail confirmation of the concluded transactions. 7. The Auction House shall not be liable for the problems with the establishment of the Internet connection; in particular, for the inability to participate in the auction caused by the difficulties, technical failure or signal delay attributable to the auction?s Participant or the Internet link?s operator. 8. The Service Provider may lay down detail conditions of the participation in the Internet auction. X. NON-AUCTION SALE AND CONDITIONAL TRANSACTIONS 1. If the auctioned amount is lower than the Minimum price, the Contract with the auction?s Participant who offered the highest amount for the Object shall be concluded conditionally. The Auctioneer shall inform the auction?s Participant of this fact. 2. The transaction, referred to in item 1, shall come into effect on the condition that the Seller agrees to sell the Object at a price lower than the Minimum price. 3. The Auction House undertakes to contact the Seller in order to determine if the Seller agrees to reduce the price to the auctioned amount. If the Seller does not agree to reduce the mentioned price or the attempts to contact the Seller fail within 2 Working days from the date of the auction the condition is considered as not being fulfilled and the Contract is not concluded. 4. If the conditional transaction does not come into effect the Object is intended for non-auction sale. 5. After the end of the auction the Object, not sold at the auction or as a result of the conditional transaction, is offered for 30 days from the date of the auction (non-auction sale). XI. AUCTION FEE AND VAT 1. The auction fee equal to 18 % of the sales price is added to the auctioned price. The auctioned price together with the auction fee includes the Value Added Tax (VAT), if it is due. 2. The Purchaser is entitled to indicate an entity carrying out activities for charitable purposes for the benefit of which the Auction House will transfer a part of the received auction fee equal to 3% of the sales price. The Purchaser may select the entity from the list made available by the Auction House. 3. The fee, being the remuneration due to the author and his/her heirs for the professionally made resale of the original copies of the work, referred to in the Act of 4 February 1994 on copyrights and related rights (consolidated text: Journal of Laws of 2016, item 666 as amended) (droit de suite), as the sum of the following rates, is added to the final price, i.e. the sales price together with the auction fee, in case of the Objects marked by: a) 5% of the portion of the sales price, if this portion is within a range of up to the equivalent of EURO 50 000, and b) 3% of the portion of the sales price, if this portion is within a range of from the equivalent of EURO 50 000,01 to the equivalent of EURO 200 000, and c) 1% of the portion of the sales price, if this portion is within a range of from the equivalent of EURO 200 000,01 to the equivalent of EURO 350 000, and d) 0,5% of the portion of the sales price, if this portion is within a range of from the equivalent of EURO 350 000,01 to the equivalent of EURO 500 000, and e) 0,25% of the portion of the sales price, if this portion is within a range exceeding the equivalent of EURO 500 000. 4. The fee, referred to in item 3, is not higher than the equivalent of EURO 12 500 and it is not collected if the sales price is lower than the equivalent of EURO 100. 5. The Value Added Tax (VAT) equal to 8% of the purchase price of the Object is added to the final price, i.e. the sales price together with the auction fee, in case of the Objects marked by. 6. The fee, referred to in item 1-4, is also added in case of non-auction sale. 7. The commission charged by the Service Provider is also added to the fees laid down in items 1-4 if the Contract is concluded via the Internet auction. The Service Provider informs the customer of the amount of the commission, including the Service Provider?s fees. XII. PURCHASE OF THE OBJECT 1. The Purchaser is obliged to pay the amount due for the auctioned Objects within 7 days from the date of the conclusion of the Contract. The Auction House is entitled to charge statutory interest for a period of delay in payment. 2. Subject to the current provisions, the Auction House accepts the following forms of payment: a) cash (payment in PLN), b) payment cards, c) bank transfer to the account number specified in the auction catalogue and on the Auction House?s website. 3. The invoices in foreign currency can be issued with the consent of the Auction House, however, the amounts due / amounts are recalculated according to the average exchange rate published by the National Bank of Poland on the day preceding the date of the issue of the invoice. XIII. WITHDRAWAL FROM THE CONTRACT 1. If the Purchaser is delayed in making payments and the Object is not collected within the time limit laid down in item XIV.2 of the Terms and Conditions the Auction House shall determine an additional period of 7 days to make payments for the auctioned Object and to collect the Object. After the ineffective expire of the additional time limit, the Auction House has the right to make a statement on withdrawal from the Contract within 90 days from the date of the conclusion of the Contract. 2. The statement, referred to in item 1, should be made in writing and served to the Purchaser, i.e. to the address of correspondence indicated in the registration form. The service shall be deemed to have taken place with the expiry of the last day of the period for which the letter has been left in the office of a postal operator, and if the letter has been collected earlier - on a day of collecting. If the Auction House withdraws from the Contract in accordance with the provisions of items XIII.1 and XIII.2 of the Terms and Conditions, the Purchaser shall be obliged to pay the Auction House a contractual penalty at the amount equal to twice the auctioned price of the Object paid to the account and within the time limit indicated in the statement on withdrawal from the Contract. XIV. TRANSFER OF THE OWNERSHIP AND COLLECTION OF THE OBJECT 1. The ownership of the auctioned Object shall be transferred to the Purchaser upon the payment of the full price together with the auction fee. 2. The collection of the Object by the Purchaser is possible after the payment of the full price together with the auction fee (at the moment when cash is received at the premises of the Auction House or when the amount due is posted on the account of the Auction House in case of the payment made by a card or via bank transfer) and should take place within 14 days from the date of payment. 3. The Auction House shall issue a purchase certificate and authenticity certificate of the Object. 4. The purchased Object is collected at the premises of the Auction House. At the Purchaser?s request the Auction House can send the Object to the indicated address on the condition that the Purchaser covers all shipment, packaging and insurance expenses. 5. The Auction House shall be relieved of the liability at the moment when the Object is collected at the premises of the Auction House or when the Object is sent at the post office / shipping company. 6. The Auction House shall charge the Purchaser of the Objects not collected within 14 days from the day of purchase with the storage costs related to the purchased Objects at the amount of PLN 100 per day per Object. In justified cases, the Auction House may waive the fee for the storage of the Object not collected within the time limit. 7. If the delay in collecting the Object by Purchaser exceeds the period of 12 months from the date of the auction, the ownership of the Object shall be transferred to the Auction House in return for the release of the Purchaser from the obligation to pay the storage fees. 8. The Purchaser of the Object shall grant the Auction House an unlimited license to use the image of the purchased Object for marketing purposes. XV. COMPLAINTS 1. The complaints shall be settled in accordance with the Polish law. 2. The complaint for the inconsistency of the goods with the contract can be lodged within one year from the date of the release of the Object. 3. The Auction House shall not be liable for physical (hidden) and legal defects of the purchased Objects towards non-consumers. XVI. INFORMATION ABOUT LEGISLATION IN FORCE 1. In accordance with the Act of 23 July 2003 on protection and care of historical monuments (consolidated text: Journal of Laws of 2014, item 1446), the exportation of works of art is permitted if the Object is not more than 50 years and its value does not exceed the limits laid down in Article 51 of this Act. 2. In accordance with the Act of 16 November 2000 on prevention of money-laundering and terrorist financing (consolidated text: Journal of Laws of 2016, item 299), the Auction House is obliged to collect the personal data of the customers engaged in the transactions at the amount exceeding EURO 15 000. 3. In accordance with the Act of 21 November 1996 on museums (consolidated text: Journal of Laws of 2012, item 987), the Polish registered museums have the pre-emptive right to acquire the monuments being sold at the auction. The declaration on the execution of the pre-emptive right should be submitted by the museum immediately after the auction of such an Object, however, not later than by the end of the entire auction. If the declaration on the execution of the pre-emptive right is submitted by more than one registered museum this right applies to this museum which submitted such a declaration earliest. 4. In accordance with the Act of 2 July 2004 on freedom of economic activity (consolidated text: Journal of Laws of 2016, item 1829), the payments connected with the economic activity are accepted via the entrepreneur?s bank account whenever: a) the other entrepreneur is a party of the transaction from which the payment results and b) a unitary value of the transaction, regardless of the number of the payments which results from it, exceeds the equivalent of PLN 15 000. XVII. FINAL PROVISIONS 1. The Auction House reserves the right to change the content of these Terms and Conditions or to introduce the new Terms and Conditions. 2. The Auction House shall notify the customers of the change of the Terms and Conditions or of the introduction of the new Terms and Conditions, by post or e-mail, not later than 14 days before the changed or new Terms and Conditions shall come into force. 3. The Customer shall indicate the address for correspondence to the Auction House. 4. The Customer should inform the Auction House of the change of an address for correspondence. The failure to meet this obligation causes that the letters sent to the Customer?s address possessed by the Auction House are deemed delivered. The letters advised twice shall be deemed delivered and the time limits determined in the letters shall be deemed effective. 5. The Purchaser shall be obliged to cover all expenses connected with the exportation of the Object. 6. As regards the concepts, referred to in item I, the references to one grammatical gender cover the references to all grammatical genders, the references to a singular form cover the references to a plural form and vice versa.