Form Over Function: The Abstract Vessel

Participating in Maak Auctions The following information is intended to assist Bidders and Buyers. All Maak Auctions are conducted according to our Conditions of Sale which can be viewed in the Maak Terms and Conditions. Here you will find information on the following areas however if you still have any questions we are very happy to answer them and talk you through the process so please feel free to contact us. - Viewing - Registering - Bidding - Buyer's Premium - Artist Resale Right - VAT - Payments - Collection & Shipping Where can I view the auctions? All auction lots can be previewed on our website 2-4 weeks prior to an auction going live. Although we do not produce a printed catalogue, we are able to provide a basic printed list of works in the auction for those not able to view the auction online. Gallery Auctions All works in our Gallery Auctions are exhibited on public view at a gallery exhibition - please refer to the individual auction details for more information. Online Only Auctions Some auctions may be conducted as Online Only Auctions where there is no public view at a gallery exhibition. Alongside the condition statements printed online, we are able to provide detailed condition reports and provide additional images on request. How can I register to bid? All visitors to the Maak website are able to view full details of the lots in an auction. However in order to participate and place bids in an Auction, Bidders must register their details, thereby agreeing to the Maak Terms and Conditions. Please click Register to submit your details online or you can register with us in person during the auction viewing. As part of our compliance to recently introduced anti-money laundering regulations, we are now required to keep a record of proof of identity of all our buyers and sellers, existing and new, who make a transaction over €10,000. For individuals, this will mean we will require a copy of a valid photo identity document such as a passport, driving license or national ID card which confirms their full name, date of birth, nationality and permanent residential address. For companies, we will require company details including evidence of incorporation, directors and the ultimate beneficial owners. Please be assured that all documentation provided will be processed and held securely in accordance with our privacy policy. Once registered you will not need to re-register for subsequent auctions, simply click Sign In and use your registration details to access your account. Be aware that until the necessary ID has been received and approved, you will not be authorised to bid beyond €10,000. How does online bidding work? Each lot has an individual auction closing time as stated on the Website, with lots in an auction generally closing two minutes apart. Any bid placed within the last 5 minutes of a lot's closing time will extend the lot?s period of bidding by up to 5 minutes to allow time for counter bids. These extensions will continue indefinitely until there is no more bidding activity on the lot for a period of 5 minutes. The extension of one lot's closing time does not affect other lots' closing times therefore it is possible that lots will close out of numerical lot order. The Successful Bid in any Auction will be the first highest bid as registered by the system that equals or exceeds the reserve price at the point of a lot's auction end time. Incremental Bids You can submit bids incrementally as per the next possible bid as indicated on the bidding screen. Maximum Bids You can also submit a maximum bid. This bid is similar to an absentee bid, is strictly confidential and can only be viewed by you. A maximum bid allows you to place a bid for the maximum level that you are willing to bid and the online bidding platform will then bid on your behalf up to your maximum amount. Your bid will always be at the lowest possible level subject to the reserve price and any other bids placed on the lot. If no other bids are placed on a lot then your bid will be no more than the reserve price for that lot. If other bids are placed on the lot your bid will only be one increment higher than the highest other bid, up to your maximum. If there are two or more equal bids submitted on a lot then the bid submitted first will take precedence. You may increase your maximum bid at any time without any possibility of bidding against yourself. Absentee Bids If you are unable to submit a bid directly through the online bidding platform you can request to submit an Absentee Bid by completing and signing an Absentee Bidding Form and returning it to Maak. It is the Bidder's responsibility to check that the Absentee Bidding Form has been received by Maak. This additional service is complimentary and confidential. Such bids are at the Bidder's own risk and Maak cannot accept liability for our failure to receive and/or place any such bids. Bid Increments Bidding increments are generally set at 10% of the Current Bid. If a bid placed does not match an actual bid increment it will automatically be rounded down to the nearest actual bid increment and will be confirmed onscreen. Bidding FAQs How does the Time Extension work? If a bid is placed on a lot in the last 5 minutes before the lot's stated closing time, the closing time will extend to 5 minutes remaining. This means that if you are the highest bidder on a lot and your are outbid in the closing seconds you will always have up to 5 minutes to come back with another bid. BE AWARE that if the close time of a lot extends it DOES NOT extend the close time of subsequent lots. This means that if you are watching a lot where last minute bidding is extending its end time, later lots may well be closing whilst you are watching the 'current' lot. How do I bid on consecutive lots? If you are concerned about bidding on several lots where the close times are close together we recommend that you watch your bids in My Profile. You can monitor all active bids here and regularly refreshing the page will give you current updates on your bid status. If you are then outbid you can quickly click through to raise your bid and then return to your active bids in My Profile. If you regularly refresh the page you will always have up to 5 minutes to place bids. I've placed a bid but nothing happened? Bids should be placed as numeric whole numbers only, with no currency symbols and no punctuation. So a bid of £1000 should be entered as 1000 not £1000 or 1,000 or 1000.00. This is my first time bidding in a Maak auction, what should I do? If this is your first time bidding, we strongly recommend that you don't leave your bids until the closing seconds but familiarise yourself with the bidding process earlier on. You can place a low bid early on to start you off or if you know what your limits are already you can place a maximum bid. With the time extension feature there is no real tactical advantage to holding off until the last minute as other bidders will always be given the opportunity to come back with a counter bid. I've placed a bid but changed my mind, what can I do? As with any auction a bid is legally binding at the time that the bid is submitted. You will always be given the change to check and confirm your bid before it is submitted. For any queries please contact Maak. Bids Enquiries T: +44 (0)1628 290 050 M+44 (0)7903 049 444 E: info@maaklondon.com What are the charges? Buyer's Premium A Buyer's Premium of 20% plus VAT is payable on the hammer price Artist Resale Right On certain Lots marked 'AR' in the Catalogue that are sold for a Hammer Price of €1,000 or greater (converted into GBP using the European Central Bank Reference rate prevailing on the Auction End date) an additional premium will be payable by the Buyer to cover the payment of royalties under the Artist Resale Right Regulations 2006. The additional premium will be a percentage of the amount of the hammer price calculated in accordance with the table below, and shall not exceed the equivalent of €12,500. Hammer Price Percentage Amount From €0 to €1,000 0% From €1,000 to €50,000 4% From €50,000.01 to €200,000 3% From €200,000.01 to €350,000 1% From €350,000.01 to €500,000 0.5% Exceeding €500,000 0.25% VAT As standard no VAT is charged on the hammer price, but VAT at the prevailing rate, currently 20%, will be added to the buyer's premium. The following symbols are used to denote that VAT is due on the hammer price and buyer's premium: ⴕ VAT at 20% on hammer price and buyer's premium Ω VAT on imported items at 20% on hammer price and buyer's premium * VAT on imported items at reduced rate of 5% on hammer price and 20% on buyer's premium ● Zero rated for VAT, no VAT will be added to the hammer price or the buyer's premium How can I pay for my purchase? Your invoice will be available as quickly as possible after the whole auction has concluded. Invoices are usually sent out within 24 hours of the auction. T: +44 (0) 1628 290 050 M: +44 (0) 7903 049 444 E: info@maaklondon.com The final amount due will include the hammer price, the buyers premium, any applicable taxes and other charges such as ARR and shipping if requested. Payment of the total Purchase Price will be due from a successful Bidder in cleared funds within seven (7) days of the Auction end. Payments made by anyone other than the registered buyer will not be accepted. Maak's preferred payment method is by bank transfer. Bank Transfer You may electronically transfer funds to the Maak Client Account. Please quote your invoice number and Surname as the reference. The Maak Client Account details are. Bank: HSBC Bank plc Address: 26 Broad Street, Reading, Berkshire RG1 2BU Account Name: Maak Client Account Sort Code: 40-38-04 Account Number: 15079829 IBAN Number: GB11HBUK40380415079829 BIC: HBUKGB4B If paying by bank transfer the amount received after the deduction of any bank fees and/or conversion of the currency of payment into Sterling must not be less than the Sterling amount payable, as set out on the invoice. Payment can also be by one of the following methods: Cheque Sterling personal cheque drawn on a UK branch of a bank or building society: all cheques must be cleared prior to collection of Purchased Lots. Cheques must be made payable to Maak Cash You may pay for Lots purchased by you the Auction in Sterling Cash, provided that the total amount payable is respect of all Lots purchased by you in the Auction does not exceed £5,000. If the amount payable exceeds that sum, the balance must be paid by other means. UK and EU Consumer Debit Cards and Credit Cards There is no additional charge for purchases made with personal consumer debit and credit cards issued by a bank within the EEA. All Commercial Cards and Non-EU Debit Cards and Credit Cards For all Commercial Debit and Credit Card payments and payments made with debit and credit cards issued by a bank outside the EEA there is a 2.5% surcharge on the total invoice value. Where can I collect my purchase? Gallery Auctions All lots are removed from the gallery on the Friday immediately following an auction and transferred to the Maak office. Successful bidders wishing to collect purchased lots from the auction venue must notify Maak in writing no later than 12pm on the Friday following the auction. Collections can then be made on the Friday immediately following the Auction 11am to 2pm and the Saturday immediately following the Auction 11am to 2pm. Lots not collected from the auction venue will be available for collection from the Maak office by appointment from the Wednesday following the Auction. Maak Contemporary Ceramics 5 Spring Meadows Business Centre Highfield Lane Crazies Hill Berkshire RG10 8PZ T: +44 (0)1628 290 050 M: +44 (0)7903 049444 E: info@maaklondon.com Lots may only be released on production of a 'Collection Note' obtained from the Maak accounts department. Online Only Auctions Collections can be arranged from Maak office strictly by appointment with Maak. Storage Charges For all sold lots transferred the Maak office there will be no charge for lots collected within 14 days of the sale date. For lots which remain after this date without prior arrangement the right is reserved to charge storage a daily rate of £1.50 per lot at the Buyer's Risk. How can I arrange shipping? Maak does not offer an inhouse packing and dispatch service but there are a number of carriers who operate in our area below. ArtFX Fine Art Services Ltd T: +44 (0)20 7720 5566 E: info@artfxltd.com www.artfxltd.com Alban Shipping T: +44 (0)1582 493099 info@albanshipping.co.uk www.albanshipping.co.uk Pack & Send Oxford T: +44 (0)1865 260610 E: oxford@packsend.co.uk www.packsend.co.uk/oxford We also run a weekly London van run from the Maak office in the weeks immediately after an auction so please contact us for more details.