Spring Auction: Modern and Contemporary Art

AUCTION TERMS OF SALE Absentee (Left) Bid You can submit your absentee bid online by email up to two hours before the begginign of an auction. To place an absentee bid you have to tell us your maximum bid on the lots that interest you. Then the auctionner will bid for you as long as the other bids do not exceed your maximum one you have designated. To place an absentee bid please : Download the bid form E-mail us the bid form filled to info@alyesauctions.com Location of the lots: The lots sold will be shipped wheter from our Hong Kong warehouse or from our network of trusted partners in Europe, Japan and North America. Buyer's Commission : A buyer's premium equal to 20% will be applied to the hammer price of each lot sold up to $200 000 (15% above) Bidders choosing to buy our lots through third party online bidding platforms have to pay our buyer's premium listed above and the additional fees set by the third party online bidding platform. Please contact us for more informations. For purchases made either in the room or by phone or by absentee bid and paid for by Visa, MasterCard, Discover : A 2% surcharge will be added to the total of the hammer price plus buyer?s premium and any applicable taxes, as above. Payment Once the lot is sold at auction, title to the property immediately transfers to the successful bidder. Within 48 hours of an auction, Alyes Auctions sends all successful bidders their invoices (via e-mail of post) with information about shipping options. If you have a question or there is a problem with your invoice, please contact us right away. Buyer payment (hammer price + the applicable buyer?s premium + taxes) is due immediately after the receip of the payment. If payment isn"t recieved within thirty (30) days of sale, Alyes Auction reserve the right to impose from the date of sale a lot charge o 1.5% a month of the total purchase price and deny all future credit. Buyers can pay for their artworks : -By Bank Transfer -By Credit Cart (Visa or Mastercard) with presentation of proof of identity -By Cash -By WechatPay or Alipay Reserve Price : After discussion and approval by our expert a reserve price on artworks can be set by the seller. If the highest bid during the auction doesn't exceed the reserve price set the lot will remain unsold. Shipping Service: Alyes Auction ships worldwide, providing tracking number and insurance for every parcel. We usually work with the leading shipping operators. If you have any specific shipping requeriment please contact us, we will do our best to satisfy it. We do not propose a pick-up service. Terms Of Sale 1. General Alyes Auctions (Hereafter referred to as ?the Auction House? "we" "us" or "our"). By bidding at auction you agree to be bound by these Terms of Sale as amended and supplemented, whether you bid in the room, through a representative, by phone, by internet, or absentee bid. If you have any questions after having read the Terms of Sale, please contact us. Each item of property (a "Lot" or "Lots") in this catalogue is offered for sale subject to these Terms of Sale, as changed or supplemented by provisions a) written in other places within these Terms of Sale, b) in written supplements to this catalogue or other materials prepared by us and c) as stated by the auctioneer or posted in writing at the auction, prior to a bid being accepted for a Lot. No other communications, in writing or orally, by any employee of the Auction House is intended to be binding, and such other communications are made for informational purposes only. 2. Catalogue Descriptions and Consignor Warranties ALL LOTS DESCRIBED IN THIS CATALOGUE ARE SOLD ?AS IS" EXCEPT AS EXPRESSLY STATED OTHERWISE. Our catalogue descriptions for Lots are expressions of our opinion only. All measurements listed in the catalogue are approximate. We recommend that you inspect the condition of a Lot prior to bidding at auction to ensure your satisfaction with condition. THE AUCTION HOUSE MAKES NO WARRANTIES, EXPRESS OR IMPLIED, AS TO THE MERCHANTABILITY OR FITNESS FOR PURPOSE EXCEPT AS OTHERWISE EXPRESSLY STATED IN THESE TERMS OF SALE. Catalog illustrations may not be to scale or reflect the depicted Lot's actual size. For each Lot, the consignor has represented and warranted to us that the consignor is the owner of such Lot or is acting as authorized agent of the owner of the Lot and has the right to transfer title to the Lot free of all liens, claims, and encumbrances. Neither the consignor nor we make any warranty or representation, express or implied, as to whether you will acquire any reproduction rights, copyrights or other intellectual property rights in, or with respect to any Lot. The Auction House retains all rights to photographs and other intellectual property contained in this catalogue. 3. Withdrawal The Auction House reserves the right to withdraw a Lot from auction for any reason and with no liability whatsoever for such withdrawal. 4. Condition Reports and Pre-Auction Viewings Condition reports are rendered as specialist opinion by the staff of the Auction House and/or independent consultants and not as statements of fact. We do not guarantee the content of written or verbal condition reports. Condition reports can be accessed online at alyesauctions.com. If you would like additional information, please contact us. Our specialists will respond to requests as quickly as possible. If you need a condition report, please request and review them prior to reserving phone lines. 5. Estimates The estimates provided in this catalogue are neither a representation nor a prediction of the hammer price that will be realized at auction, price realized at a post-auction sale, or price realized upon resale, which may be substantially different from our estimates in this catalogue. We shall not be liable for any discrepancies between our estimates and a price realized. 6. Qualifying to Bid As a security measure for our consignors and us, all bidders must establish credit. You will be asked to furnish identification and a valid credit card number, credit references and/or (for absentee, phone and online bidders) an initial deposit in the form of a pre-authorization hold equal to 10% of the low estimate of the total number of Lots on which you are bidding. If you are bidding as agent, we reserve the right to request a letter of authorization from your principal. If you are successful and do not remit payment as specified, the amount owed will be charged to your credit card together with such charges set forth in these Terms of Sale. Bidding Numbers: All bidders must register and receive a bidding number from the Auction House prior to bidding at auction. 7. Absentee Bids Absentee bids submitted by fax, mail or online must be received by us no later than two hours prior to the start of an auction's published start time. Absentee bidders are emailed their bid confirmations. If you do not receive a bid confirmation the day prior to the auction, please contact us. When you do receive a bid confirmation, please double check it for accuracy. All absentee bidding is handled as though you are in attendance. We bid on all designated Lots for you one bidding increment above where the competition stops up to your bid amount. Please check and comply with increments. In case of failure to comply, we will reduce each off-Increment bid to the increment below it. Generally, the auctioneer will follow the bidding increments listed below; however, the auctioneer may change bidding increments during the auction for a particular Lot at the auctioneer's sole discretion. ?Plus? bids: Several people may leave identical bid amounts. Therefore on your bid sheet you have the opportunity in addition to listing your bid amount, to also list a "Plus" bid. An earlier bid received by the Auction House wins in the event of a tie, but if a later bid has an added ?plus? bid to a higher increment and the earlier bid does not have a "Plus" bid that matches or exceeds the "Plus" bid, the later bid would win the Lot. All absentee bidder names and bids are held in strictest confidence, disclosed only in the event of a question after the sale. Absentee bidding is a convenience offered to our customers and, while we will make every effort to execute your instructions, the Auction House is not liable or responsible for any errors or failure to bid. If you place absentee bids with the Auction House and then choose to attend the auction in person, bid by phone or by any other means, it is solely your responsibility to cancel any or all absentee bids prior to the start of the auction. If you do not or cannot, regardless of reason, you will be held responsible for the purchase of any Lot for which you have placed a successful bid. 9. Internet Bids The Auction House has engaged the services of third party online bidding platforms, the majority of which levy a fee for their services. Please proceed to these sites for all necessary information on fees and how to bid and buy online using these platforms. UNDER NO CIRCUMSTANCES, INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE, SHALL THE AUCTION HOUSE AND ITS CONSIGNORS BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES THAT RESULT FROM THE USE OF, OR THE INABILITY TO USE, THESE SITES. If you place absentee bids with the Auction House and/or a third-party site and also bid in person, by phone or any other means, it is solely your responsibility to cancel these absentee bids prior to the start of the auction. If you do not or cannot, regardless of reason, you will be held responsible for the purchase of any Lot for which you have placed a successful absentee bid. Absentee bids left with third party online bidding platforms are released to the Auction House when a Lot comes up for sale. Such absentee bids are considered received by us at the time they are released to us by the online bidding platforms. 10. Reserves A reserve is the confidential minimum price established by the Auction House and the consignor. The reserve will never exceed the low estimate of a Lot. The Auction House prohibits consignors from bidding on their own Lots, but the Auction House may implement the reserve by bidding on behalf of the consignor at the auction up to the reserve. The Auction House will indicate in the catalogue or by saleroom announcement or notice when parties with an interest In a Lot, for example a beneficiary of an estate, may be bidding on such Lot. 11. Auctioneer?s Determination Final A Lot will be sold to the highest bidder as determined in the sole and exclusive judgment of the auctioneer. The auctioneer will also have the sole and exclusive power and authority to: a) resolve any disputes between bidders; b) determine whether to pass or re-offer a Lot for sale; c) reject or challenge any bid or advance in the bidding; d) exclude any bidder from the auction and/or auction premises; and e) otherwise regulate the bidders, the bidding and the bidding increments. 12. Successful Auction Bids Upon the fall of the auctioneer?s hammer an agreement for the sale of the Lot is created between the successful bidder and the consignor. 13. Auction Results Preliminary auction results will be available online shortly after each auction at www.alyesauctions.com. Final auction results will be available as soon as the Auction House has audited and verified all sales/bids, usually within one day of an auction. 14. Invoicing, Buyer?s Premium and Sales Tax All successful bidders will be sent invoices by e-mail or mail (if we do not have an email address on file) within two business days following an auction. We charge a buyer?s premium on each Lot sold in amount equal to: 20% of the hammer price up to and including $200,000.00; and 15% on that part of the hammer price above $200,000.00 (the "Buyer's Premium"). Successful Bidders who bid through third party online bidding platforms pay the Buyer"s Premium and a surcharge that offsets the fee levied by the third party online bidding platform on the Auction House. For more details on this surcharge, see the Terms of Sale posted with each of our auctions on your online bidding platform or contact us. 15. Payment of the Purchase Price and Transfer of Title The hammer price, the Buyer's Premium, any applicable surcharges or fees and taxes shall be added together to comprise the total purchase price for each Lot (the "Purchase Price"). Payment of the Purchase Price in full is due immediately upon your receipt of our invoice. If payment is not received in full within fifteen (15) days, the Auction House reserves the right to impose interest at a rate of 1.5% per month prorated from the date of auction. Upon our receipt of payment in full in good and clear funds from you, title to a Lot transfers to you. If you make payment by check, title shall not transfer to you until the check has cleared. 16. Methods of Payment and processing fees Cash. Check. Wire Transfers. Money Order. PayPal. NOTE: A 2% surcharge will be added for payments made by credit card from buyers in person who have proper identification and pay through our credit card terminals. A 4% surcharge will be added for payments made by Paypal. A single fee of 20 USD by bank transfer will be charged for any wire through our company bank account. 17. Authenticity Guarantee The consignor is providing an authenticity guarantee for certain Lots, to the extent indicated in the catalogue (as explained below), for a period of four (4) years from the date of auction (the "Authenticity Guarantee"). We are not personally liable for the Authenticity Guarantee. For purposes of the Authenticity Guarantee, authenticity is defined as a true work that is not a fake. Your sole remedy under the Authenticity Guarantee, to the exclusion of any other remedy available to you under the law, shall be the return of any portion of the Purchase Price paid by you to us. Refunds provided under the Authenticity Guarantee shall not include packing, shipping or insurance expenses incurred by you. For the avoidance of doubt, the Authenticity Guarantee is available only to you and may not be transferred to your heirs, agents, transferees, assigns or subsequent buyers. To make a claim under the Authenticity Guarantee, you must submit, at your expense, an opinion in writing from a recognized expert, pre-approved by the Auction House, regarding the authenticity of the Lot at issue. If the Lot is judged inauthentic by the expert, prior to receiving a refund of any amount of the Purchase Price paid by you to us, the Lot must be returned to us in the same condition as at time of auction. If you have satisfied the requirements of this Section 17 and we have not yet paid the consignor, we will refund your payment of the Purchase Price or any portion thereof to you. If you have satisfied the requirements of this Section 17 and we have paid the consignor, we will: (i) refund to you the Buyer's Premium (as defined below) and any taxes paid; and (ii) make written demand upon the consignor for the payment of the balance of the Purchase Price you paid. If the consignor fails to refund the balance of the Purchase Price, the Auction House will furnish you with the name and address of the consignor and assign all of the Auction House?s rights against the consignor to you. You hereby agree that upon this assignment of the Auction House's rights, the Auction House will have no further liability to you or responsibility to pursue your claim against the consignor. The Authenticity Guarantee excludes the following: Any lot description that states there is a conflict of specialist opinion; Any typographical errors in our Lot descriptions or catalogue; Wear on furniture; Flakes, surface scratches, or manufacturing flaws in glass or ceramic Lots; The description of clocks and lighting devices, whether in the catalogue or a condition report, as such descriptions may be incomplete and not identify every mechanical replacement, repair, or defect. The absence of reference to the condition of a clock or lighting device does not imply it to be in working condition or without defects, repairs, restorations, or replacement parts. 19. Shipping If you choose to ship a Lot from the Auction House you are solely responsible for the shipment. We will work with any shipper of your choosing. If you have any shipping preference for any reason, please make sure your shipper carries insurance. We are not responsible for any damage or loss that occurs while your objects are in another?s care. We will also not be responsible for any damage or loss that occurs if you choose a shipping method that we have advised against, and we will require a waiver from you acknowledging this. As a convenience to you, we will, if requested, release a Lot to a third party shipper. This company will pack and ship or arrange shipment for you via UPS, FedEx or other carrier, fully insured, for a fee payable in advance by credit card. Shipments are made within a few days after payment has been received. For the avoidance of doubt, we will not be responsible for any damage or loss that occurs to a Lot once we release it to a third party shipper. All international customs, duties, and other tariffs are your responsibility. The Auction House and all third party shippers will declare the hammer price plus the Buyer's Premium as the value of a Lot in all cases. The delivery of oversized, large, heavy, or expensive objects is not an inexpensive proposition and we urge you to consider this before bidding. 20. Export and Import The Auction House and the consignor make no representations or warranties as to whether any Lot is or is not subject to export or import restrictions or any embargoes and will have no responsibility with regard to these matters. 21. Failure to Make Payment If you fail to make payment, we shall charge you interest at the rate of 18% per annum from the date of the auction. In addition to other remedies available to the Auction House by law, the Auction House may, at its option: i. Cancel the sale of any Lot for which payment by you has not been made or for any Lot for which you have made payment and retain all payments made by you for such Lots as liquidated damages; ii. Resell any Lot for which payment by you has not been made, whether at public auction or private sale; or iii. Pursue any combination of i) and ii) above. 22. Rescission by the Auction House In the event the Auction House receives notice of an adverse claim with respect to a sold Lot, the Auction House shall have the right (but not the obligation), in its sole and absolute discretion, to rescind the sale to you, upon written notice to you. Upon such notice, you will promptly return the purchased Lot to the Auction House?s premises in the same condition as when you purchased it. Following our receipt of the Lot, we will then promptly refund you the full Purchase Price, including the Buyer?s Premium and applicable taxes paid. You will have no further recourse against the Auction House or the consignor, and the Auction House and the consignor shall not be liable for any damages of any nature suffered by you. 23. Limitations of Liability The Auction House is not liable for any breach or default by the consignor of a Lot. 24. Severability and Waiver If any provision of these Terms of Sale shall be deemed unlawful, void, or unenforceable under applicable law, that provision shall be stricken and severed from the remaining provisions, which shall remain in full force and effect. Failure to enforce any of the provisions in these Terms of Sale shall not be deemed a waiver of the right to enforce any other provisions of these Terms of Sale. 25. No Assignment Unless the Auction House consents in writing, you may not assign your rights or any of your obligations hereunder. 26. No Modifications These Terms of Sale may not be changed unless the Auction House and you have agreed to do so in a written agreement signed by both parties. Paragraph and subheadings are included in these Terms of Sale for ease of reference and should not be used to interpret the meaning of the substantive provisions.