Conditions of Sale
1. REGISTRATION
1.1 To be considered buyer or prospective buyer and allowed to bid, it's necessary, at least 12 hours before the auction, complete and sign the registration form. Registration must include: Name, address, telephone number, email, VAT number and credit card.
1.2 A guarantee or bank deposit may be requested at any time by "Renascimento" to prospective buyers.
1.3 The "Renascimento" reserves the right to refuse admission, or participation in any auction or reject any bid. Bidding in person, through a representative, by phone, by internet or other absentee bid on any item indicates full acceptance of the conditions of sale these terms and all other terms announced at the time of sale.
2. AUCTIONEER'S DISCRETION
2.1 The auctioneer has the right to exercise reasonable discretion in refusing any bid, advancing the bidding in such a manner as he may decide, withdrawing or dividing any lot, combining any two or more lots and, in case of error or dispute, and whether during or after the sale, determining the successful bidder, continuing the bidding, cancelling the sale or reoffering and reselling the item in dispute. If any dispute arises after the sale, then, in the absence of any evidence to the contrary the sale record maintained by the auctioneer will be conclusive.
3. PAYMENT AND COLLECTION
3.1 For property purchased on "Artfact Live!" Auctions a premium equal to 23% of the final bid price will be applied to each lot sold, to be paid by the buyer as part of the purchase price. Bidding on any item indicates acceptance of these terms and all other terms announced at the time of sale whether bidding in person, through a representative, by phone, by internet, or other absentee bid.
3.2 The buyer must within 5 working days after the date of purchase, full payment deducted from any amount already paid according to Section 1.2, and collect the good. Upon payment deadline, owed amount may be accrued of interest and storage charges. Bank wire transfer or cash are acceptable for pay the good.
3.3 Any good can only be collected after the full payment of due amounts. Collection and shipping is the responsibility of the purchaser. Upon request the assistance provided by representatives or employees of the "Renascimento" will be done as courtesy, so they cannot be assigned any responsibility.
3.4 Unless otherwise agreed by us in writing, the fact that the buyer wishes to apply for an export licence does not affects his obligation to make payment after the sale nor our right to charge interest or storage charges on late payment. If the buyer request us to apply for an export licence on his behalf, we shall be entitled to make a charge for this service. We shall not be obliged to rescind a sale nor to refund any interest or other expenses incurred by the buyer where payment is made by the buyer in circumstances where an export licence is required.
4. BREACH
4.1 If the purchaser breaches any of its obligations under these Conditions of Sale, including its obligation to pay in full the purchase price of all items for witch it was the highest successful bidder "Renascimento" may exercise all of its rights and remedies under the law including, without limitation: a) canceling the sale and applying any payments made by purchaser to the damages caused by the buyers breach, and/or b) offering at public auction, without reserve, any lot or item for wich the purchaser has failed to pay in full the purchase price, holding the purchaser liable for any deficiency plus all costs of sale.
5. TAX PROVISIONS
All purchases are subject to the VAT sales tax unless the purchaser presents valid VAT registration identification and qualifies for exemption.
VAT (23%) is charged over buyer's premium amount plus Artfact Live Bidding Fee; which gives a total of the amount to pay of +28,29 % over hammer price.
6. LIABILITY
6.1 Any statements made by "Renascimento" about any lot, whether orally or in writing, concerning attribution to, for example, an artist, school, or country of origin, or history or provenance, or any date or period, are expressions of our opinion or belief. Our opinions and beliefs have been formed honestly due regard and considering the estimated value of the item and the nature of the auction in which it is included. It must be clearly understood, however, that, due to the nature of the auction process, we are unable to carry out exhaustive research of the kind undertaken by professional historians and scholars, and also that, as research develops and scholarship and expertise evolve, opinions on these matters may change. We therefore recommend that, particularly in the case of any item of significant value, you seek advice on such matters from your own professional advisers. Condition reports are available on request.
6.2 Estimates of the selling price should not be relied on as a statement that this is the price at which the item will sell or its value for any other purpose.
7. FINAL PROVISIONS
The rights and obligations of the parties with respect to these Conditions of Sale, the conduct of the auction and any matters connected with any of the foregoing shall be governed and interpreted by the laws of Portugal. By bidding at auction, whether present in person or by agent, by written bid, telephone or other means, the buyer shall be deemed to have submitted, for the benefit of "Renascimento", to the exclusive jurisdiction of the courts of Lisbon, Portugal.
