JTY Art Auction Rules
1. The company formulates these rules in accordance with the trading practices of the auction industry, the auction laws of various countries and other relevant regulations.Bidders are requested to read these rules carefully and abide by their terms.
2. Before the auction, the bidder must hold his ID card or passport and other valid documents (with a copy), go through the bidding registration procedures, and pay a deposit of 2000 yuan (US dollar, euro, RMB, Japanese yen, French franc, etc., please consult the local auction house when participating in the auction), and get the bidding number plate. Please abide by the regulations of network platform.
3. The bidder's bidding is deemed to have recognized the status quo of the auction and the bidding behavior, which has the legal effect of the location of the auction house. The bidding number plate is only for his own use. If it is shared with others, the registration person of the bidding number plate shall bear the responsibility in case of any dispute.
4, after successful bidding, the bidder must pay a commission of 26.5% of the transaction price (according to the trade customs of each country's auctions，and subject to the announcement of the company).
5. The company's introduction of the auction items (including auction catalogue, antique catalog, news media and other text and picture information) is only for the reference of the bidders, and does not mean that the company makes any guarantee. The auction items of the company are required to be previewed according to the trading habits of the auction industry and the relevant laws and regulations of the auction house's location, Bidders can obtain high-definition pictures through the Internet or customer service, or go to the auction preview site to check the auction objects in person, and be responsible for their bidding behavior. The company shall not be liable for any defects of the auction products.
6. Once the auction is completed, the bid deposit can be used to offset the payment and commission. The buyer can pay off the transaction price and auction commission on the spot and receive the auction goods. Or within three days from the date of bidding, the auction price and commission shall be paid in one lump sum and then the auction products shall be collected. If it fails to get it within the time limit, the company shall not be responsible for the loss or damage of the auction.
7. If the buyer fails to pay all the auction price and commission within the time limit, unless otherwise agreed, the company shall have the right to exercise the lien on the bid, not to return the bid deposit, and investigate the bidder's liability for breach of contract according to the relevant provisions of the auction house's location.
8. Within seven days from the date of the auction, if the buyer disputes the authenticity of the auction, he shall submit the written appraisal of two or more relevant professional art experts to the company. Meanwhile, he shall return the company's bills and other documents as well as the original auction. The company may consider canceling the original transaction, However, the auction commission payable by both the client and the bidder shall be deducted, and the loss of commission shall be borne by the client and the buyer.
8. Within seven days from the date of the auction, if the buyer disputes the authenticity of the auction, he shall submit the written appraisal of two or more relevant professional art experts to the company. Meanwhile, he shall return the company's bills and other documents as well as the original auction. The company may consider canceling the original transaction, However, the auction commission payable by both the client and the bidder shall be deducted, and the loss of commission shall be borne by the client and the buyer.
9. According to the relevant laws and regulations of various countries in the world, the auction items that are restricted to exit have been marked with "*" in the auction catalogue, and no exit formalities are required.
10. The company has the right to refuse anyone to participate in the auction or enter the auction site, and has the right to explain any dispute in the auction transaction.
11. The company has the right to decide to auction the auction again in case of dispute.
12. The company has the responsibility to keep secrets for both the buyer and the seller, and protect the legitimate rights and interests of both the buyer and the seller and the company in accordance with the laws of the country where the auction house is located and the relevant provisions of the company.
The determined minimum bid amounts:
a）100 yuan，if the current auction price is less than 1,000 yuan
b）200 yuan，if the current auction price is minimum 1,000 but less than 5，000 yuan
c）500 yuan，if the current auction price is minimum 5,000 but less than 10,000 yuan
d）1,000 yuan，if the current auction price is minimum 10,000 but less than 50,000 yuan
e）2,000 yuan，if the current auction price is minimum 50,000 but less than 100,000 yuan
f）5,000 yuan，if the current auction price is minimum 100,000 but less than 500,000 yuan
g）10,000 yuan，if the current auction price is 500,000 and more
If there is no reserve price, start from 200 yuan
Bidders may make an oral offer, but the rate of increase shall not be lower than the current bid amounts.
The auctioneer has the right to temporarily adjust the bid amounts according to the specific situation of the auction site.
