Important Asian and European Arts Auction

The nature of the relationship between Arts of World, sellers and bidders and on terms and Arts of World auctioneers and SELLER contract with bidders are set out bellow: Introduction Art of World and sellers? contractual relationship with prospective. buyers is governed by those conditions business. 1. The condition for sellers displayed in the sales room. 2. Arts of World guarantee as print a catalogue in the sale and additional notice or announcement at the auction. 3. Arts of World acts as agent between the seller and the buyer. However Arts of World may have a lot ( and in such circumstance acts in a principle capacity as seller ) and may have a legal, beneficial or financial interest in a lot as a secured creditor. Common Terms In the condition of business: ABN means Australian Business Number. Australian Resident defined in the GST Acts. Bidder is the one bid as buyer in the auction. Buyers expense any coast in the auction. GST mean tax payable under the GST Act. GST Acts as goods and service tax. Hammers price is highest bid. Purchase price men hammer price and buyers premium and GST. Reserve is conditional minimum hammer price which sellers agreed to sell they may be interested. Each lot offered for sale at Arts of World is available for inspection by bidders. Arts of World knowledge in relation to each lot is partially dependent on information provide it by seller., and Arts Of World is not able to and does not carry out exhaustive due diligence on each lot. Bidder acknowledge the fact responsibility for carrying out inspection and investigation on satisfy themselves as the lots in which they are interested. Each lot offered for sale at Art of World is available for inspect by Bidders prior to the sale. Bidders acknowledge that many lots of an age and type which means that they are not in perfect condition All lot sale in condition they are offer at the time of the auction. Information provide to Bidders in respect of any lot, including any estimate, whether written or oral and including other report commentary or valuation is not a representation of fact but rather is a statement of opinion held by Art of World. The Art of World has absolute discretion refuse admission to the auction. Bidders must complete a paddle registration form supply ID. Art of World accepted absentee bidder form and telephone internet bid. Payment of then sale price for a lot only accept Australia Dollars immediately on conclusion of the auction. Title in a lot will not pass until Art of World has received payment. The buyers have to arrange collection of purchased lots. For all items stored by third party and not available to for collection from the Art of World premises, the supply of authority to release to the buyer shall constitute collection by the buyer. All packing and handing is the buyers risk. Without payment in prior agreement Art of World may its sole discretion exercise one or more remedies: store the lot at buyer risk and expense, cancel the sale of lot, Set off any amounts owed to the buyer by Art of World company. Charge interests 10% per annum above the base of lending rate by Commonwealth Bank. Resell the lot by auction or private sale. It is the buyer sole responsibility to obtain any export, import laws by Government of Australia ALL GST have to pay to Arts of World by the commission of each lot, unless indicated @ symbol in the catalogue for buyers have the lot?s GST. The sale will be conducted in Australian dollars Buyer?s premium is 20% plus GST. An additional 3% for online buyers.