Here is a summary of our terms & Conditions. Full terms & conditions are available on our Website at auction-lisbon.com. Accepted these sumarized terms and conditions implies full acceptance and without any restriction of our global terms and conditions.
Registration
In order to bid you need to be registered and approved by us. Additional information or documents can be requested by AUCTION LISBON before approval.
Financial Guarantees
Amount of the mandatory deposit is 1/3.
Viewing:
Viewing dates are: Wed. Oct. 30, 09:00-18:00 & Thur. Oct. 31, 09:00-13:00. Time is Lisbon Time. Beijing time is 8 hours ahead. I.e. 14:00 Lisbon time during the auction period is 22:00 Beijing time.
Auctions
Unless otherwise stated, the sale takes place in English.
AUCTION LISBON reserves the right, at any time and at its sole discretion, to refuse a bid, withdraw a lot or reopen it.
Purchase Orders
Purchase orders are accepted up to four hours before the auction starts.
Placing a purchase order implies unconditional acceptance of the purchase of the lot at the hammer price (provided this is less than or equal to the amount of the order), plus commissions and applicable taxes and duties.
A purchase order can be increased up to 4 hours before the sale. If the bidder wishes to decrease or cancel a purchase order, they must notify AUCTION LISBON in writing no later than 4 hours before the sale. AUCTION LISBON will confirm acceptance or refusal of the request in writing.
AUCTION LISBON reserves the right to refuse or cancel a purchase order at any time, without justification.
Telephone bidding
Phone bidding registration has to be made at least 12 hours before the sale, together with two telephone numbers where they can be contacted during the sale.
The bidder undertakes to make a minimum bid equal to the starting price mentioned in the catalogue. If AUCTION LISBON is unable to contact the bidder by telephone for any reason, AUCTION LISBON will not be held liable in any case.
It is not possible to provide an exact call time during the sale. It is recommended that the bidder is available throughout the sale.
Bidding in the Room
Each bid must be clearly and unambiguously announced by the bidder.
Live bidding
AUCTION LISBON cannot be held responsible for handling errors, technical problems or Internet failures beyond its control.
Increments
The auctioneer conducts the bidding and decides on the increments. It is up to the auctioneer to decide, at his sole discretion, the amount of each increment. However, most of the time the increments will be as follows:
• From 0 to 200 EUR: 10 EUR increase
• From 200 to 500 EUR: 20 EUR increase
• From 500 to 2,000 EUR: 50 EUR increase
• From 2,000 to 4,000 EUR: 100 EUR increase
• From 4,000 to 10,000 EUR: 200 EUR increase
• From 10,000 to 30,000 EUR: 500 EUR increase
• From 30,000 to 40,000 EUR: 1,000 EUR increase
• From 40,000 to 60,000 EUR: 2,000 EUR increase
• From 60,000 to 100,000 EUR: Increase of 5,000 EUR
• From 100,000 to 400,000 EUR: Increase of 10,000 EUR
• From 400,000 to 600,000 EUR: 20,000 EUR increase
• Over 600,000 EUR: According to AUCTION LISBON’s criteria.
Commissions and Taxes
Buyer’s premium is 31.98% including VAT
Regarding import/export taxes:
Import/export taxes are the responsibility of the buyer. It is the buyer’s responsibility to check the amount of these fees, as well as the legality and formalities of importing/exporting the goods purchased in Portugal to their country of destination. Under no circumstances can AUCTION LISBON be held responsible for any fault on the part of the buyer in these situations. AUCTION LISBON can assist the buyer in their endeavours, without assuming any responsibility.
Payment
Payment is due upon receipt of the invoice. Payment is in EURR only. Payment methods authorized are.
Credit cards
Bank transfer .
WeChat
If an agent buys on behalf of one or more buyers, they are personally responsible for paying the invoices corresponding to the buyers they represent.
An invoice is considered paid only when the full amount has been credited to AUCTION LISBON’s account. Expenses related to the payment method used are borne entirely by the buyer.
FAILURE TO PAY OR WITHDRAW THE GOODS OR LOTS PURCHASED
If the invoice is not paid in full within 10 (ten) days and without the written agreement of AUCTION LISBON, late payment penalties calculated on the basis of the legal interest rate will be applied to the total amount of the invoice.
In the event of non-payment of the invoice plus charges within a further period of 10 (ten) days, AUCTION LISBON reserves the right to collect the debt by any means at its disposal, including legal proceedings, either in Portugal, in the buyer’s country of residence, or in the country where the buyer carries on business.
If the buyer fails to pay the total amount owed to the auctioneer within 21 (twenty-one) days of the date on which the lots were auctioned, AUCTION LISBON may, at any time, on its own behalf or on behalf of the seller, and without the buyer being able to claim any compensation or indemnity, exercise one or more of the following rights, provided that they are not incompatible with each other:
A Take legal action to recover the full amount owed
B Terminate the contract on the grounds of definitive default, notifying the buyer thereof, without prejudice to the provisions of paragraph c below
C Charge default interest at the legal rate in force on the amount owed, from the 22nd (twenty-second) day until the date of full settlement of the amount owed
D Retain any goods sold to the defaulting buyer, at the auction in question or otherwise, making them available only after full payment of the amount owed
E Adopt any appropriate measures to obtain full or partial payment of the defaulting buyer’s debt, such as the retention of any goods, for whatever reason, in the possession of AUCTION LISBON;
F The aforementioned situations are without prejudice to any other rights to which AUCTION LISBON may be entitled, including the claim for interest and any costs as handling, packing, removing, transporting and insuring the goods.
b. The defaulting buyer who has not picked up the purchased lot(s), even if already paid for, will be solely responsible for all costs related to handling, packaging, removal, transport, storage and insurance. It will be at AUCTION LISBON‘s discretion to decide whether storage will be carried out in its own warehouses or in other warehouses in Portugal or France.
c. In the event of cancellation of the contract on the grounds of definitive default by the buyer, AUCTION LISBON may withhold all sums paid by the buyer as a down payment and/or payment in principle, without prejudice to the right to compensation for excess damages, in particular to reimburse costs and expenses incurred, payment of interest and commissions, among others. To this end, AUCTION LISBON reserves the right to take legal action to collect the full amount owed.
Lack of collection
If the items are not collected within the stipulated time, AUCTION LISBON will charge the buyer storage and insurance fees of 50 (fifty) euros per day. From that moment on, the buyer assumes responsibility for any loss, damage or theft that may occur.
Anti-Money Laundering and Terrorist Financing Act
AUCTION LISBON complies with current legislation on preventing and combating money laundering and terrorist financing. This includes, in particular, the obligation of identification and due diligence required for the establishment of commercial relations, as well as for transactions of an amount equal to or greater than EUR 15,000 (fifteen thousand euros), carried out in a single operation or in several apparently linked operations.
Legal forum
Any dispute arising from these general terms and conditions shall fall within the exclusive jurisdiction of the courts of the district of Lisbon. However, AUCTION LISBON reserves the right to resort to the courts of the domicile or place of business of the person concerned.
In the event of a dispute, only the Portuguese version of the general conditions will prevail
