Weekly Auctions of Exceptional Items
New York, NY, United States
DoneSun, Sep 25, 2011 2:00 AM GMT
Hosted at the Goss-Michael Foundation in Dallas and curated by The Future Tense, MTV RE:DEFINE brings together original works, many specially commissioned for the project, from a bold roster of 30 of the world's most exciting contemporary artists, photographers and sculptors, including Damien Hirst and Tracey Emin. 100% of the proceeds will benefit the MTV Staying Alive Foundation, which encourages, energizes and empowers young people who are involved in HIV and AIDS awareness, education and prevention campaigns. The live auction will be hosted by Simon de Pury, of Phillips de Pury, and the event will feature a live performance from The Boxer Rebellion. The event is kindly supported by Neiman Marcus, Moet & Chandon, FD Luxe and Hotel Zaza. Please visit our website for more information.
Auction & Auctioneer Information
Friday 16 September, 10am - 6pm Saturday 17 September, 11am - 4pm Monday 19 September - Friday 23 September, 10am - 6pm
Terms & Conditions
GUIDE FOR PROSPECTIVE BUYERS Conditions of Sale The Conditions of Sale which appear later in this Guide for prospective buyers govern the auction. Bidders are strongly encouraged to read them as they outline the legal relationship between the Staying Alive Foundation and the buyer and describe the terms upon which property is bought at this auction. Buyer's Premium There is no buyer's premium payable on any of the lots unless bidding online, where a 3% fixed premium will apply. Sales Tax There is no sales tax payable on any of the lots, unless specifically stated otherwise. Pre-Sale Estimates Pre-sale estimates are intended as a guide for prospective buyers. Any bid within the high and low estimate range should, in our opinion, offer a chance of success. However, lots may also achieve prices below or above the pre-sale estimates. Condition of Lots Unlike a traditional auction, all works included in this sale have been sourced directly from the artist studios and their galleries, and the majority are brand-new works exhibited here for the first time. As such, the condition of each lot is "as the artist intended" unless otherwise specifically noted. However, we encourage all prospective buyers to inspect the property at the pre-sale exhibition and recommend, particularly in the case of any lot of significant value, that you retain your own restorer or professional advisor to report to you on the property's condition prior to bidding. If a lot is sold framed, the Staying Alive Foundation accepts no liability for the condition of the frame. Pre-Auction Viewing Pre-auction viewings are open to the public and free of charge. Our specialists are available to give advice and condition reports at viewings or by appointment. Reserve Unless indicated otherwise, all lots in this catalogue are offered subject to a reserve. A reserve is the confidential value below which a lot may not be sold. The reserve for each lot is generally set at a percentage of the low estimate and will not exceed the low pre-sale estimate. BIDDING IN THE SALE Bidding at Auction Bids may be executed during the auction in person by paddle, via the Internet or by telephone, or prior to the sale in writing by absentee bid. Proof of identity in the form of government-issued identification will be required, as will an original signature. We may also require that you furnish us with a bank reference. Bidding in Person To bid in person, you will need to register for and collect a paddle before the auction begins. All lots sold will be invoiced to the name and address to which the paddle has been registered and invoices cannot be transferred to other names and addresses. Please do not misplace your paddle. In the event you lose it on the night, inform a staff member immediately. At the end of the auction, please return your paddle to the registration desk. Bidding by Telephone If you cannot attend the auction, you may bid live on the telephone with one of our staff members. This service must be arranged at least 24 hours in advance of the sale. Telephone bids may be recorded. By bidding on the telephone, you consent to the recording of your conversation. We suggest that you leave a maximum bid in advance, which we can execute on your behalf in the event we are unable to reach you by telephone or the connection is lost during the call. Absentee Bids If you are unable to attend the auction, please place bids through LiveAuctioneers. Our staff will attempt to execute an absentee bid at the lowest possible price taking into account the reserve and other bidders. Always indicate a maximum bid, excluding any applicable sales tax. Unlimited bids will not be accepted. Any absentee bid must be received at least 24 hours in advance of the sale. In the event of identical bids, the earliest bid received will take precedence. Bidding Increments Bidding generally opens below the low estimate and advances in increments of up to 10%, subject to the auctioneer's discretion. Absentee bids that do not conform to the increments set below may be lowered to the next bidding increment. $1,000 to $2,000 by $100s $2,000 to $3,000 by $200s $3,000 to $5,000 by $250s $5,000 to $10,000 by $£500s $10,000 to $20,000 by $1,000s $20,000 to $30,000 by $2,000s $30,000 to $50,000 by $2,500s $50,000 to $100,000 by $5,000s $100,000 to $200,000 by $10,000s above $200,000 at the auctioneer's discretion The auctioneer may vary the increments during the course of the auction at his or her own discretion. AFTER THE AUCTION Payment Buyers are required to pay for purchases immediately following the auction unless other arrangements have been agreed in writing in advance of the sale. Payments must be made in US Dollars either by cash, cheque or wire transfer. Credit Cards The Staying Alive Foundation will accept Visa, MasterCard and American Express to pay for invoices of $100,000 or less. A processing fee will apply. Collection It is our policy to request proof of identity on collection of a lot. A lot will be released to the buyer or the buyer's authorized representative when the Staying Alive Foundation has received full and cleared payment and we are not owed any other amount by the buyer. We will levy removal, interest, storage and handling charges on uncollected lots. Loss or Damage The Staying Alive Foundation accepts liability for loss or damage to lots for a maximum of five days following the auction. Transport and Shipping Please note that we do not provide packing, handling or shipping services directly. However, we will coordinate with shipping agents instructed by you in order to facilitate the packing, handling and shipping of property purchased at this sale. Export and Import Licences Before bidding for any property, prospective bidders are advised to make independent enquiries as to whether a licence is required to export the property from the United States or to import it into another country. It is the buyer's sole responsibility to comply with all import and export laws and to obtain any necessary licences or permits. The denial of any required licence or permit or any delay in obtaining such documentation will not justify the cancellation of the sale or any delay in making full payment for the lot. CONDITIONS OF SALE The Conditions of Sale set forth below govern the relationship between bidders and buyers on the one hand, and the Staying Alive Foundation on the other hand. All prospective buyers should read these Conditions of Sale carefully before bidding. 1 INTRODUCTION Each lot in this catalogue is offered for sale and sold subject to: (a) the Conditions of Sale (b) additional notices and terms printed in other places in this catalogue, including the Guide for Prospective Buyers, and (c) supplements to this catalogue or other written material posted by the Staying Alive Foundation in the saleroom, in each case as amended by any addendum or announcement by the auctioneer prior to the auction. By bidding at the auction, whether in person, through an agent, by written bid, by telephone bid, by online bid or any other means, bidders and buyers agree to be bound by these Conditions of Sale, as so changed or supplemented. These Conditions of Sale, as so changed or supplemented, contain all the terms on which the Staying Alive Foundation contract with the buyer. 2 BIDDING AT AUCTION (a) The Staying Alive Foundation has absolute discretion to refuse participation in the sale. All bidders must register for a paddle prior to bidding, supplying such information and references as required by the Staying Alive Foundation. (b) When making a bid, whether in person, by absentee bid or on the telephone or Internet, a bidder accepts personal liability to pay the purchase price, plus all other applicable charges unless it has been explicitly agreed in writing with the Staying Alive Foundation before the commencement of the auction that the bidder is acting as agent on behalf of an identified third party acceptable to the Staying Alive Foundation and that we will only look to the principal for such payment. 3 CONDUCT OF THE AUCTION (a) The auctioneer has discretion at any time to refuse any bid, withdraw any lot, re-offer a lot for sale (including after the fall of the hammer) if he or she believes there may be error or dispute and take such other action as he or she deems reasonably appropriate. (b) The auctioneer will commence and advance the bidding at levels and in increments he or she considers appropriate. In order to protect the reserve on any lot, the auctioneer may place one or more bids on behalf of the seller up to the reserve without indicating he or she is doing so, either by placing consecutive bids or bids in response to other bidders. (c) The sale will be conducted in US Dollars and payment is due in US Dollars. (d) Subject to the auctioneer's reasonable discretion, the highest bidder accepted by the auctioneer will be the buyer and the striking of the hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the seller and the buyer. Risk and responsibility for the lot passes to the buyer. (e) If a lot is not sold, the auctioneer will announce that it has been "passed," "withdrawn," "returned to owner" or "bought-in". (f) Any post-auction sale of lots offered at auction shall incorporate these Conditions of Sale as if sold in the auction. 4 PAYMENT (a) Unless otherwise agreed, a buyer is required to pay for a purchased lot immediately following the auction regardless of any intention to obtain an export or import licence or other permit for such lot. (b) Title in a purchased lot will not pass until the Staying Alive Foundation has received the full purchase price for that lot in cleared funds. The Staying Alive Foundation is not obliged to release a lot to the buyer until title in the lot has passed and appropriate identification has been provided, and any earlier release does not affect the passing of title or the buyer's unconditional obligation to pay the purchase price. 5 REMEDIES FOR NON-PAYMENT Without prejudice to any rights the seller may have, if the buyer without prior agreement fails to make payment of the purchase price for a lot in cleared funds within five days of the auction, the Staying Alive Foundation may in our sole discretion exercise one or more of the following remedies: (i) store the lot at the buyer's sole risk and expense; (ii) cancel the sale of the lot, retaining any partial payment of the purchase price as liquidated damages; (iii) charge interest at 12% per annum from the date payment became due until the date the purchase price is received in cleared funds or (iv) commence legal proceedings to recover the purchase price for that lot, together with interest and the costs of such proceedings. 6 LIMITATION OF LIABILITY (a) Subject to sub-paragraph (e) below, the total liability of the Staying Alive Foundation and our affiliated companies to the buyer in connection with the sale of a lot shall be limited to the purchase price actually paid by the buyer for the lot. (b) Except as otherwise provided in this Paragraph 6, none of the Staying Alive Foundation or any of our affiliated companies (i) is liable for any errors or omissions, whether orally or in writing, in information provided to prospective buyers by the Staying Alive Foundation or any of our affiliated companies or (ii) accepts responsibility to any bidder in respect of acts or omissions, whether negligent or otherwise, the Staying Alive Foundation or any of our affiliated companies in connection with the conduct of the auction or for any other matter relating to the sale of any lot. (c) All warranties express or implied, including any warranty of satisfactory quality and fitness for purpose, are specifically excluded by the Staying Alive Foundation and our affiliated companies to the fullest extent permitted by law. (d) Subject to sub-paragraph (e) below, none of the Staying Alive Foundation or our affiliated companies shall be liable to the buyer for any loss or damage beyond the refund of the purchase price referred to in sub-paragraph (a) above, whether such loss or damage is characterized as direct, indirect, special, incidental or consequential, or for the payment of interest on the purchase price to the fullest extent permitted by law. (e) No provision in these Conditions of Sale shall be deemed to exclude or limit the liability of the Staying Alive Foundation or any of our affiliated companies to the buyer in respect of any fraud or fraudulent misrepresentation made by any of us or in respect of death or personal injury caused by our negligent acts or omissions. 7 COPYRIGHT The copyright in all images, illustrations and written materials produced by or for the Staying Alive Foundation relating to a lot, including the contents of this catalogue, is and shall remain at all times the property of the Staying Alive Foundation, and such images and materials may not be used by the buyer or any other party without our prior written consent. The Staying Alive Foundation makes no representations or warranties that the buyer of a lot will acquire any copyright or other reproduction rights in it. 8 LAW AND JURISDICTION (a) The rights and obligations of the parties with respect to these Conditions of Sale, the conduct of the auction and any matters related to any of the foregoing shall be governed by and interpreted in accordance with English law. (b) For the benefit of the Staying Alive Foundation, all bidders and sellers agree that the Courts of England are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Sale relate or apply. All parties agree that the Staying Alive Foundation shall retain the right to bring proceedings in any court other than the Courts of England. (c) All bidders and sellers irrevocably consent to service of process or any other documents in connection with proceedings in any court by facsimile transmission, personal service, delivery by mail or in any other manner permitted by English law, the law of the place of service or the law of the jurisdiction where proceedings are instituted at the last address of the bidder or seller known to the Staying Alive Foundation.
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