Day 2: European Art

**Sales conditions Ostantix Auctions** 1. **Organizer**: - Ostantix Auctions BV - Address: Torhoutsesteenweg 553, 8400 Ostend, Belgium - VAT number: BE 0795.478.687 - Phone Kenneth: +32 (0) 498 22 92 21 - Phone Glenn: +32 (0) 494 26 21 47 2. **Contact Information**: - Email Info: info@ostantix-auctions.com - Email Support: support@ostantix-auctions.com - Email Accounting: accounting@ostantix-auctions.com 3. **Auction Process**: - The auction takes place according to the usual Belgian conditions for auctions. 4. **Payment**: - Payment must be made no later than five working days after the last auction day. - According to the anti-money laundering law, amounts from € 3,000 must be paid by cheque, credit card or transfer to our account. 5. **Bidding steps**: - Bids proceed according to the following steps: - 0-200 Euro: + 10 Euro - 200-500 Euro: + 20 Euro - 500-1000 Euro: + 50 Euro - 1000-2000 Euro: + 100 Euro - 2000-5000 Euro: + 200 Euro - 5000-10000 Euro: + 500 Euro - 10000-20000 Euro: + 1000 Euro - +50000 Euro: +5000 Euro - Deviations are only possible after approval of the auctioneer and cannot be disputed. 6. **Auction costs**: - The auction costs amount to 25% of the hammer price, plus 5% extra fee for online bids on auction platforms. 7. **Statement of Goods**: - Goods are sold in their current condition at the time of assignment. 8. **Information about Goods**: - Information provided is informative and not binding. - Buyers are encouraged to inspect the goods personally or request more details via a condition report if anything is unclear. (at least 24 hours before the start of the auction day). - Complaints about condition, description in the catalogue, dating, etc., will not be accepted after assignment. 9. **Color Aberrations and Lens Distortion**: - Please take into account possible visual deviations in photos. - Color perception is subjective and may vary. - Lens distortion may occur, returns based on this will not be accepted. 10. **Damaged Goods during viewing days/auction days**: - Damage caused by third parties to goods to be auctioned must be reported. - Damage may lead to legal prosecution and compensation. 11. **Collection of Goods**: - Buyers are responsible for their goods after assignment. - Collection times will be announced after the auction. 12. **Identification**: - Buyers must identify themselves correctly. - Bidding numbers are available shortly before the auction. - Personal information is treated discreetly and not shared. 13. **Own Responsibility**: - Buyers are expected to purchase at their own expense. - Making a bid is binding. 14. **Disputes**: - Disputes are settled by a bailiff/notary without recourse. 15. **Resale right**: - For original art, a resale right is payable where the author is either a living artist (from the E.U.) or for 70 years after the year of his/her death, a resale right is payable on the hammer price from € 2,000. o 4% of the part of the sales price from € 2000 to € 50,000 o 3% of the part of the sales price from € 50,000.01 to € 200,000 o 1% of the part of the sales price from € 200,000.01 to € 350,000 o 0.5% of the part of the sales price from € 350,000.01 to € 500,000 o 0.25% of the part of the sales price above € 500,000 However, the maximum amount of the right may not exceed € 12,500. Even if this amount is not collected when the invoice is issued, the customer may still be obliged to pay this amount for a subsequent 5 years in order to comply with the resale right. All information about resale rights in Belgium can be found at www.resaleright.be. 16. **Payment Methods**: - Cash (for amounts up to € 3,000) - By transfer (transfer costs are borne by the buyer) to account: IBAN: BE98 7370 6709 9993 BIC: KREDBEBB Beneficiary: Ostantix Auctions BV Beneficiary address: Torhoutsesteenweg 553, 8400 Ostend, Belgium Bank: KBC Bank Bank address: Marktstraat 18, 8620 Nieuwpoort, Belgium - By payment card in the hall, in the presence of the card holder. - By payment card online. - Goods must be collected within 14 days of the auction. - Storage costs apply after this period. 17. **Non-default Interest and Costs**: Administrative costs and late payment interest are applied to unpaid invoices: The following late payment interest and costs will be charged on invoices that are not paid in full within 30 calendar days after the auction date: On day 31: Administrative costs of 25 Euro per lot plus 1.5% of the total invoice amount. An additional negligence will apply from the following 14 calendar days 18. **Packaging and Shipping**: - Goods can be packed and shipped at an additional cost. The order of packaging/shipping coincides with the order of payment. Orders made from non EU accounts will have a 2 week delay in shipping to prevent fraud with online cards. Even if insurance has been taken out, it will not cover all cases. When this intervenes, the full purchase amount is not always covered. We will do what we can to assist you, but cannot be held liable for any losses associated with this. 19. **Bidding options**: - Bidding can be done by telephone, online or in writing. Under all circumstances, the bids in the room always have priority during the course of the auction. - Foreign bidders must identify themselves 24 hours before the auction. - It is possible that a bank guarantee will be requested in certain situations. 20. **Merchant Identification**: - Traders must identify themselves as such upon receipt of the buyer's number. 21. **Redemption**: - In the case of a buyer's sale, the good is offered again. - The buyer is liable for any losses. 22. **Customs regulations**: - Buyers must respect the customs regulations for their country. Our auction house cannot be held responsible for any export problems. 23. **CITES Regulation**: - Buyers and sellers must be aware of CITES regulations. 24. **Agree to Terms**: - By participating in the auction you agree to these conditions. 25. **Right of Refusal**: - The auction house reserves the right to refuse bidders or require a deposit. 26. **Notice of Conditions**: - All buyers and sellers are deemed to have taken note of these conditions. 27. **Disputes and Governing Law**: - In the event of disputes, Belgian law applies and the Court of Bruges has jurisdiction.