Weekly Auctions of Exceptional Items
DoneWed, Feb 20, 2013 3:30 PM GMT
Fine Loose Gems Online Auction
An online auction of an important collection of loose gems, including many rare coloured diamonds. Estimates range from $100 to 200,000. To include a fancy deep pink radiant-cut 1.5ct diamond and a 5.96ct blue sapphire of "Burmese" colour. Please contact us to arrange a private viewing or more information. You will need a myRITCHIES account in order to bid. Visit our website to sign in or apply for an account.
Auction & Auctioneer Information
Feb 18 11AM to 5:30PM Feb 19 11AM to 7PM
- 23% up to CA$50,000.00
- 18% above CA$50,000.00
Terms & Conditions
NOTE: This is an online-only auction. Winning bidders will be contacted by RItchies following the auction. 1) The word "auctioneer" wherever used in these conditions of sale, means Ritchies Auctioneers 2) While the auctioneer has endeavoured to catalogue and describe correctly each lot to be sold, guarantee is not made of the correctness of the catalogue or other descriptions of the physical condition, merchantability, size, medium, importance authenticity, attribution, provenance, exhibitors, literature, historical relevance of any lot and no statement anywhere shall be deemed such a warranty, representation or condition, and no sale will be set aside on account of any imperfections not noted. Each lot is sold "as is", "where is" and without recourse. Further, all catalogue descriptions are subject to any variation announced by the auctioneer in the auction room prior to the time of sale. No representation is made in respect to any copyrights available to any purchaser. All prospective purchasers shall have an opportunity to inspect all lots prior to the time of the auction and it is recommended that they do so. 3) The auctioneer has the right to refuse any bid and to advance the bidding and set bidding increments, at his absolute discretion. The highest bidder accepted by the auctioneer shall be the buyer. If any dispute should arise between bidders, or in the event of any doubt on the part of the auctioneer as to the validity of any bid, the auctioneer may, at his discretion, determine the successful bidder, or he may reoffer the lot. Note that Ritchies acts solely as agent for the consignor and makes no representation as to any attribute of, title to, or restriction affecting the property consigned for sale. 4) If the auctioneer decides that any opening bid is too low, he may reject the same. The auctioneer reserves the right to withdraw any lot from the sale or to divide any lot, or to combine any two or more lots at his sole discretion. 5) The purchaser will be the highest bidder for the lot accepted by the auctioneer and such purchaser shall assume full risk and responsibility for such lot thereafter, and will thereupon pay the full purchase price therefore, or such part as may be required by Ritchies. The purchaser shall at the time of such purchase make available to Ritchies, the name, address and telephone number of the purchaser and make payment as aforesaid. Also, if the required payment is not complied with, Ritchies may assert a lien and ?rst security interest on any works consigned by the purchaser and any funds owing by Ritchies to the purchaser and in addition to all other remedies may in its sole discretion resell any of the lots affected without notice to the original purchaser and in such case and the original purchaser shall be responsible to Ritchies and the consignor for: (a) any de?ciency in price between the resale amount and the amount that should have been paid by the original buyer, (b) reasonable charges for storage, (c) any excess commission which would have been earned by Ritchies had the original sale been completed in full, and (d) such additional fees and charges as may be reasonably incurred by Ritchies. 6) Each lot sold is subject to a purchaser?s premium of 20% of the purchase price, payable by all successful buyers, charged on the ?rst $50,000.00 of each lot purchased and 15% on the excess and shall form a lien and ?rst security interest on any such purchased works. 7) Each and every lot is sold by the vendor with all faults and defects and with all errors of description and is to be taken and paid for whether genuine and authentic or not and no compensation shall be paid for same. 8) Notwithstanding the previous conditions of sale in paragraph 7 hereof, if within twenty one (21) days after the sale of the lot the purchaser gives notice in writing to Ritchies Inc. that the lot sold is a forgery and within seven days after such noti?cation the buyer returns the same to Ritchies Inc. in the same condition as at the time of sale, Ritchies Inc. shall have the right to have the purchaser obtain, at the purchasers expense, the written opinion of two recognized experts in the ?eld, mutually acceptable to Ritchies and the purchaser, before Ritchies determines whether to rescind the sale. The purchaser's sole and only remedy against Ritchies and the consignor shall be for a cancellation of the sale and the refund of the original purchase price paid for the particular lot and neither Ritchies nor the consignor shall be liable in whole or in part for any other, special, incidental or consequential damages, including without limitation loss of pro?ts. 9) PAYMENT shall be made by CASH, CERTIFIED CHEQUE, VISA, MASTERCARD, INTERAC or WIRE TRANSFER and all property shall be removed by the purchaser at purchaser's expense not later that one business day following the sale. If it is not so removed and paid for, and if the account is not settled in full, a handling charge of the greater of 5% of the purchase price or 2% of the purchase price per month (24% per year) until settled and removed, will be payable by the purchaser. In the event that the property is not removed within thirty (30) days after the sale, Ritchies shall, in addition, have in its discretion the right to sell the property without notice to the buyer, similar to and subject to the same terms as outlined in paragraph 5 and Ritchies may in its sole discretion send the purchased property to a public warehouse for the account, risk and expense of the purchaser. All charges are subject to applicable taxes including HST. The purchaser is solely responsible to arrange and pay for the removal of the property purchased and any insurance, packing, crating or transport thereof. 10) Each lot offered for sale may be subject to an unpublished reserve in consultation between the consignor and Ritchies. The auctioneer may bid on behalf of the consignor. Ritchies may also execute telephone bids as a convenience to a purchaser but will not be held responsible for errors or failures to execute such telephone bid. The purchaser consents to the recording of any telephone conversation as may be required by law and/or Ritchies. Ritchies also, as a service, may provide absentee order bids for purchasers who cannot attend the auction. Ritchies shall attempt to execute the absentee bid at the lowest possible price taking into account the reserve price and other bids. If identical bids are left by two or more parties, the ?rst bid received by Ritchies will take priority. Ritchies shall not be responsible for errors or failures to execute such bids. 11) Parties attending Ritchies premises before, during or after the sale, do so at their own risk and shall have no claim against Ritchies in respect to any personal or property damage which may be sustained however caused. Ritchies reserves the right to refuse admission to any preview or sale or to accept any bids from any particular person or persons at any auction in Ritchies sole discretion. 12) The law of the Province of Ontario shall apply to these conditions and any purchase arrangement. In the event of any dispute such dispute shall be settled by way of mediation by a mediator to be chosen by Ritchies and the purchaser. Failing the ability to chose such mediator or in the event of the failure of the mediation, the parties agree that this dispute shall be settled by arbitration, pursuant to The Arbitrations Act of Ontario. The decision of the arbitrator shall be ?nal and binding and not subject to appeal. The mediation and/or arbitration shall be held in the City of Toronto, in the Province of Ontario. 13) Certain property sold at auction may be subject to laws governing export from Canada (such as, the provisions of the cultural Property Export and Import Act and various endangered species) and import restrictions of foreign countries. The export of any lot from Canada, or import into any other country, may be subject to granting by local authorities of one or more export or import licenses, as the case may be. It is the buyer?s responsibility to obtain any relevant export or import licenses. Lots purchased shall be paid for in accordance with all Conditions of Sale and the denial of any export or import license or any delay in the obtaining of such licenses shall not justify the rescission or cancellation of any sale or any delay in making payment of the total purchase price for the lot. Although licenses can be obtained to export some items which are the subject of these laws, other items may not be exported. Please check with the specialist department if you are uncertain as to whether an item is affected by the above laws or other related laws which restrict exportation.
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