June Auction

BASIC IDEAS. SERVICES PROVIDED BY THE ROOM 1.- DEFINITION ANTEO SUBASTAS is the trade name used by Cástor Lobelos Velay (D.N.I. 15.905.134-J), with registered address in San Sebastián (Guipúzcoa), Calle Garibay, nº 18, will use as the name under which it will perform its mediation and sales activities using the auction or direct sale system of its own assets or assets assigned by their owners or lawful holders for this purpose, acting as mediator. The company ?ANTEO SUBASTAS? (hereinafter, the ?Room?) is a Contracting Centre, intermediation (services) and sale by auction or direct sale of own assets or assets assigned by their owners or lawful holders for this purpose, acting as mediator. Consequently, the Room acts as a mediator between the owner and/or seller of each lot, on its behalf, and any potential purchasers. 2.- EXHIBITION Any lots to be auctioned will be previously exhibited at least seven days before the auction on ?ANTEO SUBASTAS??s premises, in order to allow potential purchasers to adequately examine and study them. 3.- STATE OF THE LOTS All lots will be auctioned as is. The Room disclaims all liability or claim related to their restoration, damage, breakage, etc., even if not indicated in the catalogue. The lots are exhibited in order to enable a complete examination and study. Until the Auction is held, the Room staff will be available to all interested parties in order to provide any clarifications on the lots. 4.- CATALOGUE DETAILS Any statement made in the catalogue on authorship, authenticity, source, age, origin, measurements and state of the lot (see IV Terms) is based on what its owners and/or vendors have represented and, as the case may be, when expressly requested by them, following through research and advice. Nevertheless, the Room disclaims all liability on the accuracy of the foregoing. As is international practice, catalogued lots are sold with all possible faults and imperfections, including errors in catalogue descriptions. Consequently, the purchasers must check before the auction that the description of a particular lot matches their personal opinion. 5.- ARRANGEMENT OF LOTS The Room reserves the right to organise, change or subdivide the lots, according to their cautious and expert opinion. It may also combine two or more lots and withdraw them for justified reason. 6.- ACCEPTANCE OF LOTS AND STARTING PRICE The starting price of each auctioned lot will be mutually agreed by the Room and owner/vendor. To this effect, the Room will provide the owner/vendor with its best opinion and experience, based on its participation as mediator in preceding and analogous transactions. Each lot?s lot starting price is specified in the catalogue and will constitute the minimum sale price, unless a reserve has been exceptionally agreed with the depositor/vendor or the Room has decided to establish it at its discretion. 7.- USAGE AND RULES As mediator and when auctioning the lots entrusted, the Room will follow any applicable rules in force at all times, as well as any commercial usage traditionally governing this type of transaction, further to the principle of good faith. 8.- BID SCALE All bids will be established and/or increased following this scale: Between 50 ? and 100 ?, in 5 ? intervals. Between 100 ? and 200 ?, in 10 ? intervals. Between 200 ? and 500 ?, in 25? intervals. Between 500 ? and 1,000 ?, in 50 ? intervals. Between 1,000 ? and 2,000 ?, in 100 ? intervals. Between 2,000 ? and 5,000 ?, in 250 ? intervals. Between 5,000 ? and 10,000 ?, in 500 ? intervals. Between 10,000 ? and 20,000 ?, in 1,000 ? intervals. Between 20,000 ? and 50,000 ?, in 2,500 ? intervals. Between 50,000 ? and 100,000 ?, in 5,000 ? intervals. Between 100,000 ? and 200,000 ?, in 10,000 ? intervals. Between 200,000 ? and 500,000 ?, in 25,000 ? intervals. From 500,000 ? on up, in 50,000 ? intervals. In any case, based on its experience, the Room may change the bidding system in specific cases. These thresholds in ascending bids will always apply for On-Line Auctions held by Anteo Subastas. 9.- MINIMUN INCREASE The auction Manager will be entitled to reject any bid that does not exceed the preceding bid, in the amount applicable in each case. The auction Manager himself may demand the ratification of a bid. 10.- AWARD TO THE HIGHEST BIDDER AND DISAGREEMENT All lots will be awarded to the highest bidder. A disagreement between two or more bidders as to the amount of the highest bid and, in general, any difference arising amongst the auction bidders, will be settled by the auction Manager, who will award the lot as he deems fit, in a final manner. If the auction Manager does not settle the disagreement or difference amongst the bidders when it arises, the Room will be entitled to hold a new auction for the relevant lot in the same gathering or the one immediately thereafter, or it may proceed with a private auction of the lot. In On-Line Auctions, if there is a draw between two maximum bids, the last one made will always prevail. 11.- PACKAGING AND TRANSPORTATION EXPENSES. SPECIAL PERMITS All costs incurred in packaging and transporting the awarded lot will be borne by the awardee/purchaser, who will be solely liable for any damage caused thereto in itinere. The awardee/purchaser will be in charge of obtaining and contributing, as applicable and at its sole cost, any legal and administrative documentation, licences and permits, including export and import licences, which may be eventually required by any national and international Public Authorities and Administrations, in order to legally transport the lots awarded and/or acquired in the Room. 12.- INFORMATION SERVICE During exhibition days and hours, the Room will make a help desk available to the public, consisting of a group of experts, who will provide information on the state of conservation, known author, market prices or any other details related to the lots included in the auction catalogues. This customer help desk service will be provided further to the principle of good faith and the Room?s reasonable and founded opinion, based on its experience but disclaiming all liability as to the information and opinions provided. 13.- APPRAISAL SERVICE The Room has an appraisal service in order to provide written appraisals in the case of painting, jewellery and other works of art, libraries, books and manuscripts for insurance, wills, distribution of assets, award to pay debts and others. An appraisal will be made subject to a duly accepted estimate, which will not include VAT or any expenses and allowances incurred due to providing appraisal services outside the municipality of San Sebastián (Guipúzcoa). 14.- SPECIAL PERMITS The vendor will be responsible for obtaining and providing, at its sole cost, any legal and administrative documentation, licences and permits, including export and import licences, which may be eventually requested by any national and international Public Authorities and Administrations, to legally transport and distribute the items deposited in the Room for sale. Furthermore, the awardee will be in charge of obtaining and providing, as necessary, at its sole cost, any legal and administrative documentation, licences and permits, including export and import licences, which may be eventually requested by any national and international Public Authorities and Administrations, in order to legally transport the lots awarded and/or acquired in the Room. The procurement of this documentation will not affect any purchase; the awardee will pay the price of the lot to the Room and any other amounts accrued. ABOUT THE PURCHASER 15.- REFERENCES The Room may request references on any potential participants as bidders in an auction. Likewise, the Room may request bank reference or other guarantees from the awardee/purchaser of one or several lots, if this is deemed appropriate. The Room and auction Manager may reject any bid without having to provide any justification or explanation whatsoever. Whilst the lots are being exhibited, anybody intending to participate in an auction will check the state and other conditions of the item to be purchased, in order to confirm that the catalogue description reflects his examination. 16.- BIDS IN WRITING AND BY PHONE The Room may make a bid and announce, over time and according to the circumstances of the auction, any offers it has received in writing from any bidders, formalised in the forms provided by the Room for this purpose or by any other electronic or remote means. This service is cost-free. All Lots will be awarded at the lowest price allowed by the other bids and any reserve prices. If more than one offer for the same Lot is received, for the same price, the first offer received by the Room will be granted priority for its subsequent award in the auction, by date and time of receipt. The Room reserves the right to reject any bids received after 2:00 p.m. on the day of the auction, without having to provide any justification or explanation whatsoever. Bids may be placed by phone, for lots with a starting price that is equal to or greater than 500?, which will also be formalised in writing in the forms provided by the Room or through any other electronic or remote means. An order to place a bid by phone means that the bidder undertakes to at least cover the starting price. The Room hereby disclaims all liability for the failure or loss of telephone contact, in which case the Room will cover the bidder?s starting price. In the event of a draw between a bid made in the Room and one made in writing, the latter will prevail. 17.- AWARD AND STORAGE EXPENSES Any persons intending to make a bid at the auction must complete the standard file request or form to confirm their future purchases, further to the terms of the auction, which will be provided by the Room at the desk enabled for this purpose, thereafter assigning a number to each bidder. All awarded lots will be paid by the awardee/purchaser within a maximum of seven days and withdrawn within a maximum of twenty calendar days; both timeframes will begin to run as of the auction award date. If this second timeframe expires without the awardee/purchaser having withdrawn the acquired lot or lots, custody and storage costs will accrue by lot/day of 5 Euros; if fifteen calendar days transpire since the auction date without the purchaser paying and/or withdrawing the lots, ?ANTEO SUBASTAS? may either deem the sale as terminated and auction the lot again, or bring legal action to claim the final awarded price of the lot not paid, as well as claiming a penalty consisting of legal interest and storage expenses since the auction date. As for any future damage that may be caused to the awarded lots, these will be entirely paid by the awardee/purchaser. 18.- DUTIES OR COMMISSIONS OF THE ROOM The total payable by the awardee/purchaser to the Room as duties or commissions for participating in the transaction will be 18% over the final awarded price, plus applicable VAT. Any amounts representing packaging costs, insurance, lot transportation and storage, as they gradually accrue after the award, will be separately paid to the Room, along with applicable tax, by the awardee/purchaser. OTHERS 19.- INTELLECTUAL PROPERTY RIGHTS Any rights held by the authors and their heirs, over works and creations, will be protected under Intellectual Property Act 23/2006, of 7 July. 20.- VAT AND TAXES Unless otherwise expressly provided elsewhere in these General Terms, all figures, rates and amounts indicated therein will be presumed as excluding VAT or other required tax. 21.- APPLICABLE LAW AND FORUM Should any differences arise between the parties related to auction trades, the depositor/vendor, awardee/purchaser and the Room itself, waiving any other forum to which they may be entitled, will submit to the competence of the Courts and Tribunals of San Sebastián (Guipúzcoa). Any trades involving the Room, in terms of legal classification and consequent effects, will be governed by the rules of Spanish law and, specifically, by the provisions regulating mediation and deposit agreements. 22.- PERSONAL DATA In compliance with Organic Act 15/1999, of 13 December, on Personal Data Protection, and the Community Regulation n. 2016/679 of 2016 April 27 (RGPD), you are hereby informed that all personal data gathered as a result of hiring the mediation services offered by ?ANTEO SUBASTAS? will be stored in files, owned by the company, in order to establish a client database and for information purposes. Likewise, should the data owner wish at any time to exercise its rights of access, challenge, rectification or cancellation of its personal data, a written request should be sent, along with a photocopy of the relevant ID Card, to: ?ANTEO SUBASTAS? C/ Garibay, nº 18 20004 San Sebastián (Guipúzcoa) 23.- COMMERCIAL CORRESPONDENCE By virtue of Act 34/2002, of 31 July, on Information Society Services and E-Trade, all users hereby agree that the e-mail address provided to ?Anteo Subastas? may be used to send advertising and promotional correspondence, related to its activity or company services, by e-mail or other means of communication. Nevertheless, a user may cancel receipt of such correspondence by providing written notice to the e-mail address correo@anteosubastas.net or to the Room?s address. 24.- PARTIAL INVALIDITY AND ANCILLARY EFFECTS If any provision of these General Terms is deemed invalid, ineffective, voidable, inapplicable or contrary to law, the other clauses will remain in force. The provision in question will be replaced with another valid and enforceable provision that most accurately reflects the Parties? intention and purpose, insofar as permitted by law. 25.- AMENDMENT OF THE GENERAL TERMS ANTEO SUBASTAS may change the General Terms by informing its Customers sufficiently in advance, in order to improve the services and products offered through www.anteosubastas.net. Any change in the General Terms displayed on the website of www.anteosubastas.net will presume that this duty of notification has been fulfilled. In any case, before using the services or hiring our products, the General Terms may be consulted. 26.- METHODS OF PAYMENT In order to settle your lots, credit/debit card payment is possible through our website. BBVA has a Virtual POS, an on-line payment gateway allowing you to pay for your lots with a card, through the Internet, easily and, above all, safely. The BBVA on-line payment platform integrates the CES system (Secure Electronic Purchases). Further to international Visa and MasterCard SecureCode Verified protocols, this provides a high level of payment security and protection. In addition to the CES protocol, the Virtual POS is configured with ?velocity check? security limitations. You may also pay in cash at our offices in Calle Garibay, 18, 20004, San Sebastián, Guipúzcoa, for amounts under 2,500 euros, pursuant to Act 7/2012 of 29 October. A bank transfer may be made to the Room?s current account or a bank-endorsed cheque provided. SPECIFIC TERMS APPLICABLE TO THE IDENTIFICATION OF WORKS OR ITEMS Any printed statement in a catalogue as regards authorship, authenticity, attribution, origin, date, age, source and state of the lots will always constitute an opinion that is governed by the interpretative terms described below: a) FRANCISCO DE GOYA Y LUCIENTES (FULL NAME).- This means that, in our opinion, the item constitutes an authentic work of said artist. b) ATTRIBUTED TO FRANCISCO DE GOYA Y LUCIENTES (FULL NAME).- This means that, in our opinion, the work probably belongs to the artist, subject to other opinions of renowned experts or authorities in the matter. c) F. DE GOYA Y LUCIENTES (INITIAL OR INITIALS OF THE FULL NAME).- This means that, in our opinion, the work belongs to the artist?s period but may be totally or partly his. d) STUDIO OF FRANCISCO DE GOYA Y LUCIENTES (FULL NAME).- This means that, in our opinion, the work belongs to an unknown author produced in the artist?s studio, but not necessarily under his guidance. e) CIRCLE OF FRANCISCO DE GOYA Y LUCIENTES (FULL NAME).- This means that, in our opinion, the work was produced by an unknown or unidentified painter, apparently following the artist?s style, though not necessarily as his disciple. f) STYLE OF.......AND FOLLOWER OF FRANCISCO DE GOYA.- This means that, in our opinion, the work was produced by a painter who followed the artist?s style, who may or may not be contemporaneous but not necessarily his disciple. g) ACCORDING TO FRANCISCO DE GOYA.- This means that the work was produced by an imitator, copying or following the artist?s style. h) COPY OF FRANCISCO DE GOYA.- This means that, in our opinion, it is a copy of one of the artist?s famous works, with or without changes in composition, colour or other details, produced in a much later period. i) SPANISH SCHOOL OF THE XVIII CENTURY (Dated School).- This means that, in our opinion, the work was produced by an artist of Spanish nationality or who was working in Spain, and dates back to the XVIII century or follows the standards of the period. j) SPANISH SCHOOL (Undated School).- This means that, in our opinion, the work was produced following the style of a certain or undetermined Spanish artist, irrespective of the period or author?s nationality. k) The term SIGNED means that, in our opinion, it is the artist?s authentic signature or was provided with his knowledge l) The term SIGNATURE OF means that, in our opinion, the signature was provided by a person other than the artist and without his knowledge. m) The term DATED means that, in our opinion, the date was provided by the artist. n) The term ON [?] means that, in our opinion, the date was added by a person other than the artist. o) If an asterisk (*) precedes the artist, this means that we have no further details about the artist?s name, even though the work may be authentic. ANTIQUES For catalogue purposes, an item will be considered antique if it is more than one hundred years old since its creation date. CLOCKS If we indicate that a clock is operable, this means that it at least contains all the parts necessary for it to be repaired and started up. WINES ?ANTEO SUBASTAS? does not guarantee the preservation of any wine. LOTS WEIGHT, MEASUREMENTS, COLOUR, PURITY AND OPERATION All gems are approximately weighed and measured, as exact measurements are not possible due to the jewel?s setting or design. The colour and purity of any set diamonds will be provided as an example only, given that for a full description they need to be dismantled (Article 7.1 of the CIBJO nomenclature). Wrist and pocket watches included in the catalogue will be operating unless ?update required? is expressly indicated. Likewise, all furniture and items are measured as accurately as possible, but in many cases their formal characteristics only allow an approximation. GENERAL CONTRACTING TERMS FOR THE VENDOR BASIC IDEAS. SERVICES PROVIDED BY THE ROOM 1.- DEFINITION The company ?ANTEO SUBASTAS? (hereinafter, the ?Room?) is a Contracting Centre, the object of which is to make sales through final awards, after holding a prior voluntary auction, of assets, artistic items or similar goods entrusted for this purpose. Consequently, the Room acts as a mediator between the owner and/or seller of each lot, on its behalf, and any potential purchasers. 2.- EXPERTIZATION AND APPRAISAL OF THE WORKS The Room reserves the right to accept or reject any lots that are offered for auction. Upon acceptance of the lot, and always based on the statements made by its owner and/or vendor, the Room will describe it in the relevant admission receipt or slip. Once a lot is accepted, even if delivered by the owner and/or vendor, the Room will act as depository. Likewise, it will expertize and appraise the lot through qualified staff, including its restoration, framing, conservation and/or cleaning, all insofar as expressly requested by the depositor/vendor. The price of the foregoing activities or services will be paid by the depositor/vendor to the Room, as it may decide, in advance and separately; or the relevant amount may be deducted by the Room when settling the lots in favour of the depositor/vendor, after the auction and award. 3.- INCLUSION IN CATALOGUES AND PHOTOGRAPHS Any reproduction of the lots in the Room?s catalogues will be borne by the depositor/vendor; any statement made in the catalogue on authorship, authenticity, source, age, origin, measurements and state of the lot (see IV Terms) is based on what its owners and/or vendors have represented and, as the case may be, when expressly requested by them, following through research and advice. Nevertheless, the Room disclaims all liability on the accuracy of the foregoing. As is international practice, catalogued lots are sold with all possible faults and imperfections, including errors in catalogue descriptions. Consequently, the purchasers must check before the auction that the description of a particular lot matches their personal opinion. The depositor/vendor hereby grants the Room the right to photograph and illustrate any lot to be auctioned, including the possibility of using said photographs and illustrations at its total discretion, including for these purposes the use of electronic means and support. Any statement made in the catalogue on authorship, authenticity, source, age, origin, measurements and state of the lot (see IV Terms) is based on what its owners and/or vendors have represented and, as the case may be, when expressly requested by them, following through research and advice. Nevertheless, the Room disclaims all liability on the accuracy of the foregoing. As is international practice, catalogued lots are sold with all possible faults and imperfections, including errors in catalogue descriptions. Consequently, the purchasers must check before the auction that the description of a particular lot matches their personal opinion. 4.- EXHIBITION AND DATE OF THE AUCTION Any lots to be auctioned will be previously exhibited at least seven days before the auction on ?ANTEO SUBASTAS??s premises, in order to allow potential purchasers to adequately examine and study them. ?ANTEO SUBASTAS? will be in charge of arranging the auction, selecting and describing the lots, establishing their bidding order and scheduling the date and time of the auction. 5.- ARRANGEMENT OF LOTS The Room reserves the right to organise, change or subdivide the lots, according to their cautious and expert opinion. It may also combine two or more lots and withdraw them for justified reason. 6.- DIFFERENCES AMONGST BIDDERS All lots will be awarded to the highest bidder. A disagreement between two or more bidders as to the amount of the highest bid and, in general, any difference arising amongst the auction bidders, will be settled by the auction Manager, who will award the lot as he deems fit, in a final manner. If the auction Manager does not settle the disagreement or difference amongst the bidders when it arises, the Room will be entitled to hold a new auction for the relevant lot in the same gathering or the one immediately thereafter, or it may proceed with a private auction of the lot. 7.- USAGE AND RULES As mediator and when auctioning the lots entrusted, the Room will follow any applicable rules in force at all times, as well as any commercial usage traditionally governing this type of transaction. 8.- NO SELF-BIDDING ?Self-bidding? will be forbidden, i.e. a bid made by the depositor/vendor himself or a direct relative, in relation to a lot assigned to the Room for sale through an auction by said depositor/vendor. The Room reserves its right to bring the necessary legal action against any such depositor/vendor, who fraudulently raises the price of his lot, and to cancel any such bids once detected, billing the depositor/vendor 32% as duties or commissions, to which applicable VAT will be added, custody and storage expenses, at a rate of 5 ?/day following the date indicated in the admission receipt or slip. If ?self-bidding? is detected, the auction will be cancelled and the lot returned to the depositor/vendor, provided that the latter has paid the items indicated in the preceding paragraph. 9.- STARTING PRICE The starting price of each auctioned lot will be mutually agreed by the Room and owner/vendor. To this effect, the Room will provide the owner/vendor with its best opinion and experience, based on its participation as mediator in preceding and analogous transactions. Each lot?s lot starting price will be specified in the admission receipt and catalogue. The starting price will constitute the minimum sale price, unless a reserve has been exceptionally agreed with the depositor/vendor or the Room has decided to establish it at its discretion. 9.- INSURANCE OF DEPOSITED ASSETS ?ANTEO SUBASTAS? holds an insurance policy to cover any potential loss or damage to the assets deposited in its care. Both the value agreed and the starting price will be guaranteed, subject to deducting the Room?s commissions. 10.- LOTS NOT AWARDED If a lot is not awarded during the auction held for this purpose, the depositor/vendor may instruct a new auction to be held or else withdraw the lot, paying all expenses and storage services- at a rate of 5 ?/day since the auction date-, insurance, issue of the catalogue and transportation, should the depositor/vendor not have already done so. If one month expires since the failure to award the lot at the relevant auction, and the depositor/vendor does not act or instruct the Room in the terms of either of the foregoing alternatives, it will be presumed that the lot is held by the Room and is expressly authorised by the depositor/vendor, as a mediator and without the need for prior notice, to directly sell the lot in question at the minimum sale price established at the time or to hold a new auction. In this case, the Room may set the starting price it deems appropriate, up to a limit of 40% less than the former price established for that same lot. 11.- APPRAISAL SERVICE The Room has an appraisal service in order to provide written appraisals in the case of painting, jewellery and other works of art, libraries, books and manuscripts for insurance, wills, distribution of assets, award to pay debts and others. An appraisal will be made subject to a duly accepted estimate, which will not include VAT or any expenses and allowances incurred due to providing appraisal services outside the municipality of San Sebastián (Guipúzcoa). ABOUT THE DEPOSITOR/VENDOR 12.- CAPACITY The Room presumes that the depositor/vendor holds the necessary legal capacity to enter into contracts, peaceful possession and full powers of disposal over the assets auctioned or sold. The depositor/vendor hereby releases the Room from any liability and will entirely assume any consequences, loss and expenses that may eventually arise from defects in legal capacity, title or free disposal of the depositor/vendor, or as a result of third party claims over items deposited for auction or sale. 13.- PAYMENT OF EXPENSES The depositor/vendor hereby authorises the Room to deduct from the final awarded price, or to bill, any expenses incurred up to the date of the auction, as well as any taxes levied on these expenses, at the rate in force and applicable at the time. Said expenses will be paid to the Room further to either of the alternatives foreseen in the General Terms. 14.- RIGHT TO WITHDRAW THE LOTS Should the depositor/vendor decide, following the appraisal of a lot and/or inclusion of a lot in a catalogue, to not carry out the sale in an auction, for which the Room?s mediation was requested, the latter will be entitled to demand 32% of the price, as expenses incurred and indemnification, representing its commissions, plus applicable VAT, expenses and storage services- at a rate of 5 ?/day since the date indicated in the admission receipt or slip-, insurance, issue of the catalogue and transportation, should the depositor/vendor not have already paid for these items. The lot will be returned to the depositor/vendor provided that it has paid the aforementioned items. 15.- DUTIES OR COMMISSIONS OF THE ROOM Upon settlement in favour of the depositor/vendor of the awarded price for the lot auctioned or sold, the Room will deduct 17% as commissions or duties, for its mediation, to which will be added applicable VAT. 16.- ASSIGNEMENT OF ACTIONS IN A COURT CLAIM If one month expires since a lot was awarded in an auction without the awardee/purchaser paying the final awarded price, the Room will use its best endeavours and take the necessary steps to obtain the relevant amounts from the awardee/purchaser; should these steps be unsuccessful, the depositor/vendor will have two options: (i) to hold another auction for the lot, or (ii) to duly empower the Room, its lawyers and/or court attorneys in order to bring a claim in court, in which case the depositor/vendor will bear any expenses arising from or accrued in such judicial proceedings. In the event that the depositor/vendor does not act or instruct the Room in the terms of either of the foregoing alternatives, the depositor/vendor hereby expressly authorises the Room to directly sell the lot in question, without the need for prior notice, or to hold another auction, at the starting price and/or minimum sale price established at the time. For these purposes, the Room will be expressly empowered to use any means, systems and electronic/commercial supports it deems appropriate. 17.- SETTLEMENT FOR THE VENDOR The Room will issue a settlement for the depositor/vendor of the relevant amount, after deductible expenses, Room commissions, copyright- if any- and tax, thirty days following the auction date, as long as the lot has been paid by the awardee/purchaser. In the event of non-payment by the awardee/purchaser, the provisions of the preceding Term will apply. As an exception and if the Administration exercises its right of pre-emption, the relevant settlement will follow the payment procedure and timeframes specifically foreseen by law. In this case, the provisions of Term 17 will not apply. OTHERS 18.- INTELLECTUAL PROPERTY RIGHTS Any rights held by the authors and their heirs, over works and creations, will be protected under Intellectual Property Act 23/2006, of 7 July. If applicable, the awarded and/or sale price of a work created by authors subject to the Intellectual Property Act will be accordingly decreased, at the depositor/vendor?s cost. 19.- VAT AND TAXES Unless otherwise expressly provided elsewhere in these General Terms, all figures, rates and amounts indicated therein will be presumed as excluding VAT or other required tax. 20.- APPLICABLE LAW AND FORUM Should any differences arise between the parties related to auction trades, the depositor/vendor, awardee/purchaser and the Room itself, waiving any other forum to which they may be entitled, will submit to the competence of the Courts and Tribunals of San Sebastián (Guipúzcoa). Any trades involving the Room, in terms of legal classification and consequent effects, will be governed by the rules of Spanish law and, specifically, by the provisions regulating mediation and deposit agreements. 21.- ADMISSION SLIP OR RECEIPT When depositing a lot, the depositor/vendor will be provided with a copy of these General Terms, along with an admission slip or receipt, as an annex thereto. The receipt will declare his awareness of the content of these Terms and acknowledgement of receipt at that same moment, whereupon they will be binding. All items and works of art will be accepted as is. The Room hereby disclaims all liability for any restoration, breakage, imperfections, etc., even if not indicated in the relevant admission receipt. 22.- RIGHT OF PRE-EMPTION AND REDEMPTION OF THE SPANISH STATE AND/OR AUTONOMOUS COMMUNITY The Spanish State reserves all pre-emption and redemption rights over the lots auctioned, and may exercise its right of pre-emption at the auction itself or its right of redemption within the timeframes foreseen by law. 23.- PERSONAL DATA In compliance with Organic Act 15/1999, of 13 December, on Personal Data Protection, you are hereby informed that all personal data gathered as a result of hiring the mediation services offered by ?ANTEO SUBASTAS? will be stored in files, owned by the company, in order to establish a client database and for information purposes. Likewise, should the data owner wish at any time to exercise its rights of access, challenge, rectification or cancellation of its personal data, a written request should be sent, along with a photocopy of the relevant ID Card, to: ?ANTEO SUBASTAS? C/ Garibay 18 20004 San Sebastián (Guipúzcoa) 24.- SPECIAL PERMITS The vendor will be responsible for obtaining and providing, at its sole cost, any legal and administrative documentation, licences and permits, including export and import licences, which may be eventually requested by any national and international Public Authorities and Administrations, to legally transport and distribute the items deposited in the Room for sale. Furthermore, the awardee will be in charge of obtaining and providing, as necessary, at its sole cost, any legal and administrative documentation, licences and permits, including export and import licences, which may be eventually requested by any national and international Public Authorities and Administrations, in order to legally transport the lots awarded and/or acquired in the Room. The procurement of this documentation will not affect any purchase; the awardee will pay the price of the lot to the Room and any other amounts accrued.