Curated: PICASSO

Last Updated March 15, 2024 Rago Wright, LLC offers each item of property (a ?lot? or ?lots?) for sale at auction subject to and under these Auction Terms of Sale as may be amended from time to time (?Agreement?). In this Agreement, ?we,? ?us,? ?our,? ?Rago Wright,? "LA Modern Auctions," "LAMA," and ?Toomey & Co? mean Rago Wright, LLC, a Delaware limited liability company; and ?you,? ?your,? ?buyer,? ?bidder? or similar terms mean the individual or entity bidding on or buying a lot from us at auction, in person or via the Internet or other means (and you and Rago Wright will sometimes be called a ?Party? and together ?Parties?). Capitalized terms have the meanings given in Definitions at the very end of this Agreement. This Agreement contains mandatory arbitration dispute resolution at Section 36. To opt out of arbitration, please see the instructions at Section 36. WELCOME TO RAGO WRIGHT 1. AGREEMENT. By registering to bid, bidding, or otherwise purchasing a lot from Rago Wright - whether in person, by absentee bid, through an agent, or third party Bidding Platform - you hereby enter into, and agree to be bound by and to comply with, this Agreement. This Agreement governs the relationship between you, as a bidder and/or buyer, on the one hand, and Rago Wright and sellers, on the other hand. You acknowledge that Rago Wright acts as an agent for the seller, unless otherwise indicated in on a lot?s Item Page or catalogue entry or announced at the time of auction. Your Bid Is an Offer. Any bid you submit can and may be the winning bid for a particular lot. Any bid you submit constitutes an offer to buy the lot for the amount of your bid, subject to the terms of this Agreement. If we accept your bid, you become contractually bound to buy the lot in accordance with that bid and this Agreement. All Sales Are Final. You are responsible for satisfying yourself about the condition or any other matter concerning each lot on which you bid. You are advised to personally examine any lot on which you intend to bid prior to the auction and/or sale. By bidding on a lot, you hereby represent, warrant and covenant that you have examined the condition of the lot to your satisfaction and have no objections with its condition. All sales are final. Privacy And Security. We will hold and process your personal information as described in, and in line with, our privacy policy at https://www.wright20.com/privacy-policy. 2. REGISTRATION & VERIFICATION. To bid in an auction, you must create an account with us and register for that auction. But, once you have an account with us, you will only need to register for each future auction in which you plan to bid. You may register for and participate in any auction as soon as the auction goes live on our Site. Verification of Your Identity. As a condition of bidding in an auction or sale of one or more lots, we may require you to do all or any of the following: (a) Verify your identity by providing us with a government issued photo identification; (b) Verify your address by providing us with a valid government-issued identification, a utility bill, bank statement and/or a recent postal envelope; (c) Establish credit and verify your creditworthiness by providing a valid credit card number, credit references and an initial deposit, which may include a pre-authorization hold of a portion of the estimate of the lots on which you may bid; (d) Verify you satisfy an age minimum by providing us with age-bearing identification; and (e) Furnish us with such other documents as we may request. Verification Of Your Entity. (a) If you represent an entity, we may require you to verify the status of your entity, as well as your entity?s beneficial owners, by providing us with: (i) a list of that entity?s shareholders, members, partners, trustees or beneficiaries; (ii) a copy of your entity?s charter or foundational documents, and/or a good standing certificate; (iii) the entity?s shareholders agreement, operating agreement, partnership agreement or trust agreement; and (iv) any of the documents for identity verification listed above for your entity?s directors and officers; and (b) If you are bidding as agent, we may require you to provide a letter of authorization from your principal, as well as any of the documents for verification listed above. Verification Activities. Verification activities may be handled by third parties who specialize in remote verification of people and companies, such as Stripe. You understand and agree that if we refer you or require you to submit identification or personal identifying information to a third party verification service, that any information you provide or interactions you have with them will be subject to the third party?s terms, conditions, and privacy policies. We will not be a part of, or be responsible for, the actions or failures to act of, the verification activities of those third parties. Minimum Deposits May Be Required. We may require you, as a bidder on a lot with an estimate of $2,000 or more: (a) to provide an initial deposit of a portion of the low estimate; and (b) to grant us the right to charge your credit card all or a portion of the selling price on the date of the auction. OUR AUCTIONS 3. LIVE AUCTIONS AND TIMED AUCTIONS. Rago Wright conducts both live auctions and timed auctions. In a live auction, you can participate in and watch the bidding in real time - in person or online - while an auctioneer conducts the auction, accepts, and announces bids, and proclaims a Winning Bid. In a timed auction, you can also participate in and watch the bidding in real time ? but only online ? while the system accepts and announces bids and proclaims a Winning Bid. Our Role As Auctioneer. At auction, we serve as the auctioneer, and in live auctions we will be represented by one or more people who lead and conduct the auction. We exclusively determine the conduct of any auction, including, without limitation, whether, when and/or if to advance the bidding, to reject any bid offered, to withdraw any lot, to reoffer and resell any lot, and to resolve any dispute in connection with a sale. We may withdraw a lot from auction for any reason and with no liability whatsoever for such withdrawal. Our determination in management of an auction or sale is final and shall be binding upon you and all other participants in such sale. Our Record of the Sale. Our collection and file of records related to each auction, lot and sale will constitute the factual, accurate record of all transactions you participate in under this Agreement. You agree that if there is a discrepancy between our records and any other records or messages related to a sale or transaction in a lot, our records will govern. 4. HOW WE CONDUCT OUR AUCTIONS. Reserve. We may offer each lot subject to a confidential minimum price below which we will not sell the lot (the ?Reserve?). Unless indicated by a label that says ?No Reserve?, each lot is subject to a Reserve. The auctioneer may open the bidding on any lot below the Reserve. We prohibit sellers from bidding on their own lots, but we may seek to satisfy the reserve by bidding on behalf of a seller at the auction up to the Reserve. We will endeavor to 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 bid on such lot. Opening Bid. We will determine the opening bid based on the Reserve and the lot?s estimates. We may change the opening bid at any time based on bidding activity and interest. You are responsible for watching the lot?s Item Page to stay informed on bidding activity and the opening bid. Receipt Of Bids. Your bid, like all bids, will be time logged with the date and time that it is received on our system. If we get more than one bid for a lot in the same amount at the same time, the first bid received will have priority over later identical bids. Notwithstanding the foregoing, we may determine in our sole discretion the official time that a bid has been received. The Winning Bid. A bid can be accepted by our auctioneer or system as the last, highest winning bid for a lot (the ?Winning Bid?). If your bid is a Winning Bid, you agree to pay us the Purchase Price (which includes your Winning Bid, the Buyer?s Premium, and any Buyer Costs) and assume all risk of loss and damage to such lot, in addition to any other obligations as set forth herein. Notifying You Of Your Winning Bid. If you have the Winning Bid, you will receive an email notification of your Winning Bid. You can also see any of your Winning Bids in your ?My Account? window on our Site under the tab ?Won Lots.? Auction Results. Preliminary auction results will be available online on our Site shortly after each auction. Final auction results will be available online once we have audited and verified all sales and bids. 5. INFORMATION ABOUT LOTS. Each auction will be given its own page where you can see all of the auction?s lots ? we will refer to it as an auction?s ?Index Page?. Each lot in an auction will be given its own page where you can see all of the relevant information about the lot ? we will refer to it as a lot?s ?Item Page?. Estimates. We may set estimated price ranges (low, mid, and high) for a lot and display those estimates on our Site. Estimates are intended as merely a guide to their eventual hammer price. Estimates do not include the Buyer's Premium, any applicable taxes, any artist?s resale royalty, or any export, import or shipping charges you may incur. We set estimates based on recent prices paid for similar property and on the lot?s rarity, quality, and current market appeal. Estimates can change. Estimates are preliminary only and are subject to revision by us from time to time in our sole discretion. We make no guarantees, representations, or warranties of any kind, express or implied, including, without limitation, regarding the sale price of any lot, whether the lot will sell at all, or the price realized upon resale. Lot Descriptions & Photographs. Each lot?s Item Page will display images of the lot and text that describes the lot?s artist and title, the estimated year the lot was completed, the lot?s dimensions and materials, bidding information, the lot?s ownership (aka ?provenance?), the lot?s exhibition history, and the lot?s appearances or references in writings about art. However, these descriptions may not be exhaustive or represent all of the information of every kind about a lot. We may not disclose the identifies of previous owners of the lot if that information is not available to us or if we are not authorized to do so. Any description of a lot?s dimensions and weights is approximate. Photographs of a lot identify the lot and, sometimes, give you an approximation of their size in relation to other common objects. Images of a lot may not show the condition of a lot clearly; colors and shades may look different on the screen as opposed to how they look on physical inspection. Descriptions we make about lots may not describe all faults or restorations. No description or report about a lot is a substitute for your own examination of a lot. Condition Reports And Descriptions. Condition Reports for any lot are available from Rago Wright prior to the sale to help you evaluate the condition of a lot. You are strongly advised to download the Condition Report accompanying any lot on which you intend to bid. But, a Condition Report may not cover all faults, inherent defects, restoration, alteration or adaptations made to a lot. Rago Wright assumes no responsibility for errors and omissions contained in any such report, a Rago Wright catalogue or other description of a lot. Except as expressly stated below in the section entitled ?Authorship Warranty? (and subject to the exclusions and terms that follow), any statements made by us with respect to a lot whether in a Condition Report, a catalogue or on our Site, or presented otherwise orally or in writing, are intended as statements of opinion only, are not to be relied upon as statements of fact and do not constitute representations or warranties of any kind. We do not warrant, and we specifically disclaim, the condition of any frame that accompanies any lot. Preview, Inspection & Due Diligence. Lots are traditionally made available for viewing and inspection by you prior to their appearance in an auction. You promise that before bidding on any lot, you will investigate and examine the lot to your satisfaction, including contacting us with any questions you may have, researching the lot and identifying for yourself that buying the lot is the right decision for you. If you wish to preview and inspect a lot before the auction, please contact us to arrange an appointment where the lot is available for preview before the auction. All lot descriptions, Condition Reports and other information we provide with a lot reflects our opinion, but are not representations of any fact or circumstance. We accept your bid on any lot in reliance on your promise that you have fully satisfied yourself about the lot. 6. THIRD-PARTY INTERNET BIDDING SERVICES AND PLATFORMS. Our auctions are available via online third-party bidding platforms to collect or facilitate auction bids, including without limitation Live Auctioneers, Artsy, Invaluable and Drouot (?Bidding Platforms?), each of which may levy a commission for their services, and have their own rules on fees and how to bid and buy online using these Bidding Platforms. Rago Wright has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any Bidding Platforms. Your dealings with Bidding Platforms are solely between you and such Bidding Platforms. We encourage you to be aware of, and to read, the terms and conditions and privacy policy of any Bidding Platforms that you visit. You expressly release Rago Wright from any and all liability arising from your use of any Bidding Platform or other third-party website or service. Bids left with Bidding Platforms are released to Rago Wright when a lot comes up for sale. UNDER NO CIRCUMSTANCES, INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE, WILL WE AND OUR SELLERS BE LIABLE FOR ANY DAMAGES, LOST PROFITS OR ANY SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES THAT RESULT FROM THE USE OF, OR THE INABILITY TO USE, THESE BIDDING PLATFORMS. We may discontinue or add any or all Bidding Platforms at our election. 7. BUY-NOW. Whenever you see an option to ?Buy Now? or ?Buy It Now?, you may buy the lot at the fixed price without bidding in an auction. When you buy a lot for the Buy Now price, this Agreement will still govern the transaction as a Private Sale. BIDDING 8. BIDDING INCREMENTS. Bids at auction must be submitted in that auction?s Bidding Increments. The Bidding Increments for live auctions are as follows: BID INCREMENT $50?1,000 $50 $1,000?2,000 $100 $2,000?3,000 $200 $3,000?5,000 $200 / $300 / $300 / $200 $5,000?10,000 $500 $10,000?20,000 $1,000 $20,000?30,000 $2,000 $30,000?50,000 $2,000 / $3,000 / $3,000 / $2,000 $50,000?100,000 $5,000 $100,000?200,000 $10,000 $200,000?300,000 $20,000 $300,000?500,000 $20,000 / $30,000 / $30,000 / $20,000 $500,000?1,000,000 $50,000* * additional increments will be at the discretion of the auctioneer. We may reject nonconforming bids. However, since we regulate the bidding, we may change the Bidding Increments in our discretion. And, if we receive an Absentee Bid that does not conform to the Bidding Increments, we may reduce your Absentee Bid enough to meet a lower Bidding Increment. 9. MANAGE YOUR BIDS ONLINE. You can manage all of your bids online at our Site under your account pages. We encourage you to follow lots in which you have an interest, place bids, monitor the progression of bids and update your bids online through your account. 10. LIVE AUCTION BIDDING. To bid at a live auction, you must create an account with us and then register for the auction. We offer several methods and media through which you may place bids at a live auction ? both before the live auction and during the live auction. Absentee Bids. Once a live auction?s lots are posted on our Site, you can start bidding on one or more lots in that auction. We sometimes refer to bids placed before the start of a live auction as ?Absentee Bids?. Absentee Bids can be placed in a variety of ways, including the following: ? Online through our Site ? just click the ?Bid? button on the lot?s Item Page; ? Online through a third party?s Bidding Platform (additional charges may apply); ? By fax, by completing our faxable bid form which you can find on our Site; ? By phone via the phone number available on the auction?s Information page; ? By email to our auction house brand presenting the auction: bid@ragoarts.com, bid@wright20.com, bid@lamodern.com or bid@toomeyco.com. ? Before a live auction, you can also arrange to bid live during a live auction through one of our phone operators in a process we call ?Phone Bids?. Confirmation of Absentee Bids. For live auctions, we endeavor to confirm your Absentee Bid via email, so if you do not receive a confirmation, please call us. You are solely responsible to check your bid confirmation for accuracy. We cannot be liable for errors in bidding including situations in which our bid confirmation contained errors that you did not correct. Disclaimers About Absentee Bidding. We will place your Absentee Bids at our discretion and at your risk. We assume no responsibility for a failure to execute any such bid, or for errors or omissions made in connection with the execution of any such bid. Further, we will take reasonable steps to carry out bids at the lowest bid price, subject to the Reserve, but will not have any liability if we fail to do so. You Must Cancel Conflicting Bids. You will be held responsible for the purchase of any lot for which you have placed a Winning Bid. So, if you submit one or more conflicting or competing bids on a lot through different platforms or methods, you are solely responsible to cancel any or all of your previously submitted bids. Bidding During The Live Auction. You may bid during a live auction in a variety of ways, including: ? In person, in the applicable sale room (please see the auction?s information page for details); ? Online through our Site ? which is available 30 minutes before the start of the auction until the lot is closed for bidding - just click the ?Bid? button on the lot?s Item Page; ? Online through a third party Bidding Platform (additional charges may apply); ? Through a Phone Bid. ? By phone, by calling us and placing a bid with us (via the phone number available on the auction?s Information page); ? By email to our auction house brand presenting the auction: bid@ragoarts.com, bid@wright20.com, bid@lamodern.com or bid@toomeyco.com. Calls and emails received on the day of an auction regarding new bids or changes to existing bids will be addressed as we are able. While we will make every effort to accommodate all requests, we may not be able facilitate last minute requests made to the auction house by phone or email. Phone Bids. You may schedule your participation in a live auction by phone by setting up a Phone Bid by clicking the ?set up phone bid? button on a lot?s Item Page at least 2 hours prior to the live auction ? Phone Bids are not always offered, so please see the lot?s Item Page for availability. ? If we receive your request in time, we will attempt to call you at up to two (2) phone numbers you supply to us. ? We cannot guarantee that we will succeed in reaching you by phone or accurately placing your bids. ? When registering to bid by phone on a lot, you may be able to submit a back-up bid which our agent can execute on your behalf if the agent cannot reach you by phone during the live auction.