Conditions of Sale
RULES FOR PURCHASING IN AUCTION
The catalogue data are obtained after a careful investigation and counselling. However, the descriptions included in it represent the exclusive opinions of Sala Retiro's experts, or of experts expressly appointed by Sala Retiro and, therefore, should be taken into consideration by the buyers and the interested should form their own opinion. Thus, the objects to auctioned are exposed to the general public several days prior to the performance of the Auction. Any written comment in the catalogue regarding the authorship, attribution, origin, date, age, source and condition of the lot is governed by the interpretative terms and expressions generally accepted. The cataloguing, certifications and opinions mentioned in the catalogue are provided and are regarded by Sala Retiro as a valuable and useful complementary information about the pieces but shall be, in no way whatsoever, binding nor shall determine the liability of Sala Retiro over them.
Therefore, the party interested in purchasing any of the pieces in catalogue may, at its own expense and prior to the acquisition, perform the queries and evaluations he/she may consider fit. Each lot is sold "as is".
By intervening in the auction, the interested party DECLARES to know and to agree with the conformity of the physical, judicial and authorship situation of the acquired objects/lots, and that the bid and the potential acquisition is executed according to their own criteria and/or the criteria of their counsellors, especially regarding the authorship of the pieces, holding Sala Retiro harmless from any liability for the opinions issued regarding the objects/lots.
The weights presented for the lots in catalogue should be considered as an approximation.
Non-precious metals, adornments or other elements composing the jewellery, may be included in such weights.
When the catalogue includes the brand of a clock, the brand transcribed is exclusively the one in the clock's gauge.
The coins have their nominal value and weight, without guaranteeing their authenticity or numismatic value in any case.
The indication "gold" and "silver" in the catalogue ate only used for sterling gold and sterling silver.
In accordance with the international standards and practices, Sala Retiro shall not be liable for the imperfections, faults, restorations, timing of the clocks, etc., even when not mentioned in the catalogue.
In Sala Retiro, we have lists and catalogues in exhibition with the complete summary of the numbers, descriptions and selling prices of each of the lots. Sala Retiro may agree, upon request of the owners and prior to the Auction, with tacking back any lot included in the catalogue. This circumstance shall be announced prior to the beginning of the Auction or during its course.
The start prices shall be displayed under each lot for the information of the buyers. The start prices of each object or piece in the catalogue shall represent the minimum selling price, except in exceptional cases where a reservation may be agreed with the seller.
The terms used in this catalogue shall have the following meaning:
Name and/or surnames of an artist: According to Sala Retiro, this is the work of an artist.
Attributed to: According to the qualified opinion of Sala Retiro, this is probably a work of the artist, either in whole or in part.
Studio from... School... Workshop... According to the qualified opinion of Sala Retiro, this is a work executed in the artist's studio or school.
Circle: According to the qualified opinion of Sala Retiro, this is a work executed in the artist's period and, therefore, evidences its influence.
Follower of... Following models of: According to the qualified opinion of Sala Retiro, this is a work executed following the artist's style or School, but not necessarily by one of his/her students nor in his/her period.
Copy of... According to the qualified opinion of Sala Retiro, this is a copy (of any date) of an artist's work.
Signed.../ Dated.../ Recorded...: According to the qualified opinion of Sala Retiro, the signature, date and record belong to the artist.
With signature.../ With date.../ With mark.../ With label.../ With stamp: According to the qualified opinion of Sala Retiro, the signature/date/label/stamp appear to have been included by someone other than the artist.
Executed from a model of: According to the qualified opinion of Sala Retiro, the work was executed from a model of the artist.
"Bid" means each of the increases, by the different bids, that the auctioned lot price suffers. Bids shall be made starting from the starting price, with the following scale arrangement:
When, during the bid, the auctioned lot price reaches a value above the scale, the following bids shall adjust to their corresponding "increases per bid".
In any case whatsoever, the action's director may vary the bids' increase during their course. The auction's director shall have the ability to execute any bid which does not surpasses the preceding bid in the amount applicable in each case. Thus, the auction's director may require the confirmation of an executed bid.
The people participating in the Auction must certify their identification at the entrance of the Room, where a "buyer number" shall be provided, which will identify them during the performance of the Auction. This number must be displayed by the bider at the moment he/she performs the bid and it must be returned at the Reception, at the end.
Purchase Orders (Open bids or written bids) shall be accepted 24 hours prior to the beginning of the Auction, through forms which Sala Retiro provides for this purpose (see "Written Bid Purchase Order Template"). Through the internet, in www.salaretiro.com, with the bid form displayed in each lot, by sending it up until the day before the corresponding session. Bids may also be made by telephone and these should cover the starting price and must be followed by an ID Card or passport copy. In such case, Sala Retiro must be previously informed and must accept prior to the beginning of the Auction, as Sala is the one representing the buyer. Bids below 1,000 Euro are not permitted by telephone, nor written bids with an amount below the starting price.
If two or more open bids are presented for a single lot, the Table shall defend the one containing the highest offer.
In case there are several equal offers for a single lot, the Table shall defend the open offer received first.
The lots shall be attributed to the highest bider, either present in the Room or having made previous bids through the open bid system (written bid).
In case there is a bid in the Room equal to the maximum offer of the open bid, the open bid shall prevail as it was received first.
In accordance with Law 16/85 of the "Patrimonio Histórico Espa?ol", Sala Retiro shall communicate to the relevant Autonomous Community and to the Ministry of Culture the content of its catalogues, with due anticipation. Thus, it shall notify about the specific transfers which may be performed according to the provisions of the legislation in force.
Regarding the assets subject to Law 16/85, the Administration may enforce its right of pre-emption when the sale is made in a public auction, solely during the Auction and manifesting its performance at the moment of the bid.
The copyrights or its own rights over the piece shall be respected under the Law of Intellectual Property.
In order to claim the attributed lot, the buyer must pay the hammer price with a 21% increase (VAT included) Buyer?s premium. Internet sales through "live-bidding" are charged with an extra 3% on top of the hammer + buyer?s premium
The ownership of the acquired lot shall not be transferred to the buyer until such payment is effectively and fully made within 10 business days.
The payment of the final bid shall be effectively made (within the limits established by law) through wire transfer to Sala Retiro's account in Bankia, or through any other payment method satisfactory to Sala Retiro.
ACC: 2038 1109 346000533869 BIC: CAHMESMMXXX
IBAN: ES 80 2038 1109 346000533869
Place of business at AV. Menendez Pelayo, 3 - 28009 Madrid (Spain)
The retrieval of the purchased lots shall be made by the buyer within ten business days following the auction's celebration date, at Sala Retiro's expense. The expedition costs shall be at the buyer's expense.
Storage expenses: The lots which were purchased and not retrieved by the buyer shall have a cost of 6 € per day due to storage cost, starting from the deadline mentioned above, added by the relevant VAT rate.
Sala Retiro shall not be responsible for the damages caused to the Auction lots, due to any cause whatsoever. The buyer shall be responsible for any damage or loss affecting the objects, from the moment the payment is made or once ten business days have passed following the Auction.
The Chairman of the Table, or in this case, the Director of the Auction, shall procure for the Auction to be performed with the due order and warranties required for the interest of the bidders and owners, and he/she has due powers to mitigate any controversy.
Sala Retiro reserves the right to admission. Thus, Sala Retiro may request references to whomever wishes to participate as bidders in an Auction. Additionally, whenever it considers convenient, Sala Retiro may require bank references or another type of guaranties from a bidder or a buyer of one or several lots.
Sala Retiro may refuse any bid without the need for any justification or explanation.
In case of dispute between SALA RETIRO S.A. and the buyer, the parties shall submit to the jurisdiction of the court of Madrid.
The above mentioned standards for the purchase in Auction are deemed known and accepted by all the participants in the Auction, without any reservation whatsoever.
Data protection law:
Sala Retiro informs that any personal data given to us will be treated as confidential and used for the only purpose of managing your online bids.
Sala Retiro SA, compromises to keep your personal information secured and remaining confidential, the data shown with (*) are mandatory, so if you not complete them Sala Retiro won?t be able to accept your bidding request.
This agreement could be removed any time, and you could access, modify or cancel it any time adressing your writing request, and proving your identity at a Sala Retiro S.A. Avenida. Menéndez Pelayo3-5, 28009, Madrid, with the label: "LOPD-ARCO".
