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Auction House will help arrange shipment, at buyer's expense, after the invoice payment is made in full.
General Conditions
These Business Terms and Conditions apply to online auctions of movable property organized by the commercial company Praças Abstratas, Lda., through the TAGUS Art Auctioneers auction house, hereinafter referred to as TAGUS, with commercial establishments on TV. do Convento de Jesus, 16-A, 1200-126 Lisbon - Portugal.
I. GENERAL PROVISIONS
Article 1 - Framework
TAGUS governs its activity in accordance with the provisions of Decree-Law No. 155/2015, of August 10, which establishes the legal regime of the auction activity, as well as these Business Terms and Conditions and others that are individually established before each auction is held.
Article 2 - Operation of the Website and Auction Catalogs
1. TAGUS organizes online auctions on the tagusart.com website , where catalogs with photographic images and description of the goods that make up each lot for sale are available in a digital version.
2. Viewing photographic images of batches in catalogs does not dispense with direct observation of the goods represented there at TAGUS facilities, during opening hours, with the aim of checking whether the item reproduced in photography conforms to its original.
3. The description of the goods contained in the catalogues, including their nature, authorship, origin, period, state of conservation and materials, must be understood as an opinion by TAGUS, not replacing an individual assessment by the interested party on these aspects.
4. In the online auctions it organises, TAGUS may allow registered users to participate in other platforms managed by third parties, such as the international online platform Invaluable and others.
5. TAGUS does not control, nor does it guarantee, that the use of the online auction platform by registered users is carried out in accordance with these Business Terms and Conditions, for which reason it cannot be held responsible, under any circumstances, for damages and losses that derive from incorrect use of the same by registered users.
6. The platform made available by TAGUS for carrying out online auctions operates in an automated manner, therefore, TAGUS cannot be held responsible for any damages arising from any technical failures or malfunctions of the website, which affect registered users.
7. In the event of a malfunction of the website in an online auction, TAGUS may, without being obliged to do so, repeat the affected auction or replace the affected goods in a new auction.
Article 3 - Personal Data
1. TAGUS is the entity responsible for processing the personal data provided by Sellers and Buyers under the terms of the applicable legislation, namely Regulation (EU) No. 679/2016, of April 27 (General Data Protection Regulation) and Law No. 58/2019, of August 8.
2. The personal data provided by the Seller or the Buyer are processed by TAGUS to comply with legal and contractual obligations, as well as for informational and publicity purposes inherent to TAGUS' auction activity.
3. The Seller or the Buyer expressly consent to the processing of their personal data provided for the purpose set out in the previous number.
4. The Seller's or Buyer's personal data collected by TAGUS are confidential and cannot be provided to third parties, unless expressly consented by the holder.
5. The Seller or the Buyer have the right of access to their personal data, being able to request its alteration, rectification or elimination, through the tagusart.com website , by email to the address info@tagusart.com or by registered letter, with acknowledgment of receipt, to the TAGUS address, on TV. do Convento de Jesus, 16-A, 1200-126 Lisbon - Portugal.
II. CONDITIONS RELATING TO SELLERS
Article 4 - Contract
1. Between TAGUS and the Seller, a contract for the provision of services is obligatorily signed, hereinafter referred to as a contract.
2. The contract is reduced to writing and includes, obligatorily, the following elements:
a) Identification of TAGUS with indication of its headquarters, legal person number, name and tax identification number of its legal representatives;
b) Identification of the Seller and, if applicable, of its representative with powers for the purpose, mentioning the name, address, civil identification number and tax number;
c) A brief description of the goods to be put up for auction;
d) The base value of each asset, that is, the minimum sale value of the asset agreed by the parties;
e) The commission owed by the Seller to TAGUS for the sale of goods;
f) The detailed identification of other services to be provided by TAGUS, such as cataloging, insurance, cleaning, restoration, certificates or other documents required by law;
g) Declaration by the Seller or its representative of knowledge and acceptance of these Business Terms and Conditions.
3. The contract lasts for an indefinite period, ending with the payment of the bill of sale or the return of the goods to the Seller by TAGUS, as the case may be.
4. The term of the contract may also end:
a) By mutual agreement;
b) In the cases expressly provided for in these Business Terms and Conditions;
c) By unilateral resolution with just cause.
Article 5 - Amendments to the Contract
The contract may be amended by mutual agreement and in writing, without prejudice to TAGUS being able to modify the description and/or increase the base value of the goods contained in the contract, as well as freely establishing the number of goods to be placed in each lot, in the catalog where these goods are to be included.
Article 6 - Seller's guarantees and obligations
1. The Seller guarantees that it has the capacity and legitimacy to contract and, in particular, that it is the owner and legitimate possessor of the goods, that they are free of encumbrances, charges or restrictions, determined by administrative or judicial entities.
2. If, during the term of the contract, the Seller is notified or in any way becomes aware of a procedure tending to create encumbrances, charges or restrictions on the goods or that any third party arrogates a right over them, he must inform TAGUS of this fact. , immediately and in writing.
3. The Seller undertakes not to withdraw the consigned goods for sale at auction after the date of signature of the respective contract.
4. In case the goods are not in TAGUS' possession, the Seller assumes before TAGUS and the Buyer the obligation to make the goods available to the Buyer as soon as the latter requests it.
5. TAGUS reserves the right to request, at any time, the presentation of documents proving ownership of the goods to the Seller.
6. The Seller assumes the obligation to indemnify TAGUS, its representatives, workers or collaborators, as well as the Buyer, for any damage or loss suffered as a result of non-compliance with the provisions set out in the previous numbers.
Article 7 - TAGUS responsibility for the deposit. Safe
1. Unless stipulated to the contrary, TAGUS is only responsible for the goods deposited at its facilities, which are covered by a contract duly signed by the parties under the terms of article 4, or which have been formally entrusted to it for the purposes of valuation, or other .
2. TAGUS' liability for any loss or damage, including theft or theft, that may occur in goods covered by the contract and/or goods that have been formally entrusted to it, is covered by insurance, under the following terms:
a) In the case of goods covered by a contract, at the base value;
b) In the case of assets formally entrusted, for valuation purposes or otherwise, at the valuation value set unilaterally by TAGUS.
3. All goods insured by TAGUS have a deductible of 1% on the base value per claim, therefore, any compensation that occurs will always apply the said deductible.
4. The insurance is in force until the ownership of the goods ceases to belong to the Seller or until the Seller has to collect them.
5. TAGUS cannot, under any circumstances, be held liable for damages resulting from the simple handling of goods in poor condition.
6. If the goods are not sold and the Seller does not collect them within the established period, after this period the Seller will be solely responsible for the goods and TAGUS or any of its representatives, workers or collaborators cannot be held responsible for any loss or damage, including through negligence.
Article 8 - Seller's Responsibility for Possession
Any loss or damage, including theft or theft, that occurs in an item while it is in the Seller's possession, even after signing the contract, is the Seller's entire and exclusive responsibility, and the Seller is obliged to indemnify TAGUS and/or the Buyer for all damages and losses suffered.
Article 9 - Seller's Responsibility for Transport
The transport of goods for deposit at TAGUS facilities, as well as their subsequent collection and transport in case of non-sale, is the sole responsibility of the Seller.
Article 10.º - Sale of goods subject to special regime - Contrast and CITES
1. Goods consisting of precious metals offered for sale by TAGUS observe the provisions of the Legal Regime for Jewelery and Assays (RJOC), approved by Law no. 98/2015, of August 18, amended by Decree-Law no. 120/2017, of September 15, and other applicable legislation, which must be duly contrasted whenever legally required.
2. It is incumbent upon the Seller to present goods consisting of precious metals duly checked by Imprensa Nacional-Casa da Moeda, SA (INCM), before being put up for auction, whenever required by law.
3. Goods incorporating materials from protected wild fauna and flora species, offered for sale by TAGUS, must be previously certified in accordance with the provisions of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) , ratified by Portugal in 1980, and Decree-Law No. 121/2017, of September 20, which establishes its application in national territory, adapting it to the amendments of Regulations (EC) No. 338/97 and 865/2006.
4. It is incumbent upon the Seller of goods incorporating materials from protected wild fauna and flora species, such as ivory, turtle or coral, among others, to present the respective certificate issued by the Institute for the Conservation of Nature and Forests (ICNF), before the their placement at auction, whenever required by law.
5. If agreed between the Seller and TAGUS, the latter may deal with the procedures with the INCM and/or ICNF, as the case may be, with the Seller committing to deliver and sign the necessary documents, as well as to pay TAGUS the corresponding expenses in accordance with the price list in force.
Article 11 - Organization of batches
TAGUS is responsible for organizing the list of lots for sale at auction, with photographic images and the respective base value, each lot being able to integrate one or more goods of the Seller.
Article 12 - Sales account
1. The sales bill is sent by TAGUS to the Seller and summarizes the result of the lots put up for auction.
2. In case of sale of the lot, the Seller authorizes TAGUS to deduct from the sale value:
a) The sales commission due under the terms of the contract, plus VAT at the legal rate;
b) The amount of services and other expenses provided for in the contract, plus VAT at the legal rate.
3. In the case of non-sale of the lot, at the end of the contract, TAGUS will only charge the Seller the amount of services and other expenses foreseen therein.
Article 13 - Compensation
If the Seller owes TAGUS any amount as Buyer of other goods, TAGUS expressly authorizes it to deduct this amount from the sales account, operating to that extent the compensation between existing credits.
Article 14 - Settlement of the sales account
1. In case of sale of the lot(s), TAGUS pays the sales bill to the Seller, monthly, between the 25th and 30th of each month, except as provided in the following number.
2. If the Buyer does not pay the lot(s) within the established period, the payment of the sale to the Seller will take place within 5 (five) working days from the date on which that amount is effectively received by TAGUS.
3. In the event of non-compliance by the Buyer, TAGUS must decide together with the Seller on the most appropriate course of action to be taken to obtain payment from the Buyer.
4. If, in the specific case, it is not possible for TAGUS to obtain instructions from the Seller regarding the conduct to be adopted, the Seller expressly authorizes TAGUS to seek to agree on special conditions for payment of the amount owed, to remove, store or insure the lot sold, resolve retentions made by or against the Buyer under the terms it deems most convenient for the collection of sums owed by the Buyer to the Seller and, if necessary, proceed with the termination of the contract, return amounts to the Buyer or adopt any of the measures provided for in Article 29.º.
Article 15 - Original work of art. resale right
1. If the item sold is an original work of art, the author of the work, other than the Seller, is entitled, under the terms of article 54 of the Code of Copyright and Related Rights (in the wording given by Law n.º 92/2019, of September 4), to a participation on the value obtained in the sale, free of taxes.
2. In this case, the payment of the participation is the responsibility of the Seller of the original work of art, who undertakes to retain such amount and deliver it to the author or, where applicable, to the heirs of the author, at their request or who validly represents them.
3. In case the author of the original work of art, his heirs or whoever validly represents them contacts TAGUS with a view to paying the participation referred to in this clause, TAGUS will provide information on the Seller's contact details and the terms in which it is processed the sale, so that the author can exercise his legal right to it.
Article 16 - Goods not sold
1. In case of non-sale of a lot, and after receipt of the respective bill of sale, the Seller must choose, within 7 (seven) days after notification, to:
a) Accept the replacement of the unsold lot, in a subsequent auction that TAGUS will hold, with a minimum sale value 25% below the base value, up to a limit of 3 (three) attempts; or
b) Carry out the survey of the lot upon payment of the expenses due under the terms of the contract, without the right to any compensation or compensation for the fact that the good is not sold.
2. After the third unsuccessful sale attempt under the terms of paragraph a) of the previous number, the Seller must collect the unsold goods under the terms of article 17.º.
3. If the Seller remains silent after the notification provided for in paragraph 1, TAGUS will proceed in the order indicated therein, restoring the good for sale in subsequent auctions and, upon verification of the third unsuccessful attempt at sale, the Seller undertakes to proceed with the collection of the item, terminating the contract entered into with TAGUS.
Article 17 - Deadline for collecting unsold goods
If the Seller chooses to collect the unsold item, he must do so at TAGUS' premises, within a period of 15 (fifteen) days from the date on which he communicates his decision to TAGUS.
Article 18 - Sale outside auction
TAGUS reserves the right to proceed with the sale of a lot withdrawn from the auction due to lack of bidding, for the agreed base value, at any time, until the effective collection of the good by the Seller, unless the latter expressly indicates in the contract that only intends to sell the property at auction.
For sale, under the terms of the previous number, the conditions of sale established in the contract apply.
Article 19 - Non-compliance with the withdrawal period
1. After the period referred to in article 17 has elapsed without the good having been collected by the Seller, the title of possession over the good is considered reversed, for all legal purposes, the Seller being responsible for the loss or damage, including theft or theft, which may occur in the asset, and from that date neither TAGUS nor its representatives, employees or collaborators can be held responsible for this eventuality.
2. The Seller will also be responsible for all expenses related to the removal, storage or insurance of the item, in accordance with the price list in force.
Article 20 Examinations and Expertise
1. TAGUS reserves the right, at any time, to carry out or have carried out examinations and/or inspections of the item, in order to verify the respective description contained in the contract.
2. In the event that such examinations or expert reports lead to the conclusion that the contract is not materially correct, TAGUS may denounce or resolve it and, in the event that the Seller acted with intent or gross negligence in the negotiation and conclusion of the contract , shall indemnify TAGUS for damages and losses suffered by it, including image damage in case the sale of the good has already been advertised; TAGUS may also terminate the contract with immediate effect, in a substantiated manner, without the Seller having the right to any compensation, in the event that such examinations or expert reports do not prove to be conclusive but, even so, there remain for TAGUS well-founded doubts about the material correction of the contract.
Article 21 - Default by the Seller
In the event of non-compliance by the Seller with the respective obligations arising from the contract, including, namely, the obligation to make the good available to TAGUS, TAGUS may notify the Seller to remedy the non-compliance within a reasonable and useful period, after which, if the situation of non-compliance persists, TAGUS will have the right to terminate the contract with immediate effect, also having the right to claim from the Seller, as a penalty clause, an amount corresponding to the commissions that would be due by Seller and Buyer in case of sale of the good by the base amount stipulated in the contract, plus any other amounts owed by the Seller under the contract and without prejudice to any excess damage.
III. CONDITIONS RELATING TO BUYERS
Article 22 - Online registration
1. In order to register on the TAGUS website - www.tagusart.com - and bid in the auctions, the potential Buyer must be of legal age, obligatorily fill in the fields relating to his name, address, tax identification number, telephone contact and e-mail, and declare to know and accept these Business Terms and Conditions.
2. The password and other means of authentication defined when registering on the TAGUS website must be kept confidential by the user, who is responsible for any unauthorized access to the respective account.
3. TAGUS reserves the right to suspend or cancel the registration, or ignore any bid, of anyone who has not fulfilled their obligations in previous auctions, namely payment and collection of purchased lots, or who has provided false information or incorrect.
4. The user can cancel the registration at any time, by sending an email to info@tagusart.com.
Article 23 - Proof of identification
TAGUS may request, at any time, the potential Buyer to present a valid and current identification document.
Article 24 - Guarantee requirement
TAGUS also reserves the right, upon registration or at a later time, to ask any potential Buyer to present a guarantee that TAGUS deems reasonable, both in terms of form and amount.
Article 25 - Bids. Purchase
1. Bids equal to or greater than the base value of each lot are accepted.
2. Online bids for a given lot are automatically executed by TAGUS at the best value allowed by any other online bids eventually received for the same lot.
3. Online bid increments will in no case exceed 10% of the value of the preceding purchase order.
4. Online bids received and accepted by TAGUS are confidential.
5. The potential Buyer accepts that their bids on the TAGUS website, once accepted, are final and cannot, by any means, be canceled or revoked, TAGUS not being responsible for any errors or failures that occur in the online bidding by Buyer's part.
6. The Buyer will be the one who bids and buys the lot at the highest price, without prejudice to the possibility of exercising preference or option by official entities, under the terms of the legislation in force.
7. Whenever there are bids during the last minute before the closing time of the auction for a lot being auctioned, the necessary time will be added to ensure the addition of up to 1 minute to the closing time of the lot. The auction will end when no one else bids.
Article 26 - Maximum bids
1. The maximum bids registered by bidders are not disclosed by TAGUS.
2. The registered maximum offers are managed by the TAGUS website, meaning that the value of the lot will be automatically increased by the system, as long as there is another bid or maximum offer placed later.
3. Bidders who place maximum bids will be bidding the base bid amount (if there are no bids yet) or the value of the next bid presented for the lot, with the value of that bid being conditional on another amount(s) ) of any previously registered maximum bids.
Article 27 - Payment. purchase commission
1. The Buyer undertakes to pay TAGUS the total amount due for the purchase of the lot, that is, the value of the respective sale and a purchase commission of 26% on this value, plus VAT at the legal rate, if the same is due.
2. Payment must be made within 5 (five) working days from the day following the closing date of the auction, and can be made by cash, ATM, bank transfer or check, under the terms of the legislation in force.
3. The lot is available to the Buyer for collection after confirmation of good collection by TAGUS of the total amount due.
4. Ownership of the good is transferred to the Buyer after payment to TAGUS of the total amount due for the purchase of the lot and collection of the good/or the expiry of the period for this purpose. Until the transfer of ownership, the asset remains the property of the Seller.
Article 28 - Survey and transport. Buyer's responsibility for the lot purchased
1. Pickup and transport of the lot purchased is the Buyer's sole responsibility, without prejudice to any indication by TAGUS of the company(ies) providing this service, which excludes any responsibility for the fact that TAGUS, its representatives, employees or collaborators.
2. The Buyer must collect the lot purchased within 5 (five) working days from the closing date of the auction, and after payment of the total amount owed.
3. Any loss or damage to the lot purchased, including theft or theft, occurring during the period for its collection, only entitles the Buyer to receive an amount equal to the amount paid up to that moment for the lot, without right to compensation or interest.
Article 29 - Default by the Buyer. Non-payment or non-collection of purchased lots
1. If the Buyer does not comply with the conditions and deadlines for payment and/or collection of the purchased lots, provided for in articles 27 and 28, TAGUS, by itself and/or on behalf of the Seller, may adopt one or more of the following measures:
a) Invoke the right of retention over one or all of the lots sold to the Buyer in the auction in question, or in another auction, until the fulfillment of the assumed obligation;
b) Reject any bid made by the Buyer in subsequent auctions;
c) Take legal action against the Purchaser with a view to being reimbursed for damages resulting from default.
2. In addition to the provisions of paragraph 1, in the event of non-payment of the purchased lot, TAGUS may:
a) Charge default interest, at the legal rate applicable to commercial transactions, on the total amount owed until it is actually received;
b) Cancel the sale and resell, at auction or outside auction, the lot not paid for by the Buyer, without prejudice to the collection of any amount that remains owed by the defaulting Buyer and without the latter being able to object or claim compensation.
3. In addition to the provisions of paragraph 1, in the event of non-collection of the purchased lot, TAGUS may charge the removal, storage and insurance costs of the same, under the terms of the price list in force.
4. In the case foreseen in the previous number, the Buyer is still responsible for the loss or damage of any nature, including theft or theft, of the lot purchased and not picked up.
5. After 15 (fifteen) days have elapsed after payment for the lot without the Buyer proceeding to collect it, he expressly and unreservedly authorizes TAGUS to proceed with the sale of the lot in order to reimburse all costs incurred. If there is a positive balance with the sale of the lot, it will be paid to the Buyer.
6. TAGUS keeps the Seller informed about the measures adopted in relation to the Buyer and, if the specific measure requires intervention by the Seller, the Seller must mandate TAGUS for whatever proves to be necessary or convenient.
7. Whenever TAGUS succeeds in collecting, judicially or extrajudicially, the credit from the Buyer, it will deliver the amount due to the Seller within 5 (five) business days following the effective collection.
Article 30 - Description, condition and authenticity of the goods
1. Buyers accept the goods in the state of conservation in which they are found on the date of the auction, and it is up to potential Buyers to confirm in person at TAGUS facilities, through observation of the lot, the accuracy of the description in the catalogue, namely with regard to concerns any restorations, faults or defects mentioned.
2. In the case of goods that include mechanisms or electrical components, TAGUS will include in the description of the batch in the catalog information about its operating status, without however taking responsibility for its proper functioning.
3. If there is a relevant discrepancy between the description and the reality of the item at the time of acquisition - which implies a significant change in the value of the item -, or if any item constitutes a deliberate falsification, it may be returned by the Buyer to TAGUS at period of 2 (two) years from the date of purchase, in the same condition as it was on the date of the auction, accompanied by a report signed by an expert recognized in the national or international market, regarding the defects or falsifications identified in the item, lot number and the date of the auction in which it was sold.
4. TAGUS may match the expert report presented by the Buyer with another of equivalent value, in which case the dispute will be decided by consulting a third expert, chosen by both parties.
5. If TAGUS considers that the Buyer is right, the purchase and sale will be canceled and the total amount paid to TAGUS will be refunded, without the Seller being able to object.
6. If the provisions of the previous number are verified and the payment of the bill of sale has already taken place, the Seller must refund to TAGUS the amount received for the sale of the good.
7. The provisions of this article apply exclusively to the original Buyer, that is, the one who acquired the good at the auction, and is restricted to the total amount paid by him for the purchase, not being able to claim any loss, damage or damage suffered or expense incurred.
Article 31 - Non-existence of the right of free termination
The online Buyer acknowledges that, having made a purchase at an auction, he does not benefit from the right of free termination of the contract, provided for in the legislation that regulates contracts concluded at a distance.
Article 32.º - Claims of third parties
TAGUS is not liable to the Buyer for any item that, due to a fact attributable to the Seller or a third party, becomes the subject of complaints or claims from third parties, including seizure, by the competent authorities, regardless of the date on which it was determined or carried out. the respective claim, claim or seizure, and the nature or amount of any damages, losses or damages that the Buyer may derive from this fact, which must be claimed by the Buyer directly from the Seller or third party causing it.
Article 33 - Transmission, export and similar restrictions
1. TAGUS is also not liable to the Buyer for any goods that may be prevented from leaving the country or subject to any other burden, charge or restriction determined by administrative or judicial entities, including those under the legislation for the protection of cultural heritage .
2. It is the Buyer's responsibility to find out (and, if applicable, obtain) any (i) licenses and other formalities or restrictions on exports from Portugal to the country of destination intended by the Buyer; and (ii) licenses and other import formalities or restrictions in Buyer's intended country of destination.
Article 34 - Limitation of liability
Except in the case of willful misconduct and without prejudice to the legally obligatory insurance, TAGUS' eventual liability towards the Buyer is, in any case, limited to the amount effectively paid by the latter for the acquisition of the lot.
IV. FINAL DISPOSITIONS
Article 35.º - Rights over photographs and publications
The Seller and the Buyer expressly authorize TAGUS to photograph, publish and use, at any time and in any form, the image and description of the goods that have been put up for auction through TAGUS.
Article 36 - Communications
TAGUS communications addressed to Sellers, bidders or Buyers are made by email, telephone or post. If sent by registered mail, they are considered to have been received 3 (three) days after dispatch.
Article 37 - Amendments
These Business Terms and Conditions may be amended by TAGUS, without retroactive application.
Article 38 - Jurisdiction
For the resolution of any dispute between the parties arising from the Contract and these Business Terms and Conditions, the district court of Lisbon will be exclusively competent.
Article 39 - Arbitration
Pursuant to the provisions of Law No. 144/2015, of September 8, consumers are informed that, in the event of a dispute, they may resort to the Consumer Dispute Arbitration Center in Lisbon, located at Rua dos Douradores, 116 - 2.º, 1100-207 Lisbon, available at http://www.centroarbitragemlisboa.pt .
For more information, consult the Consumer Portal at http://www.consumidor.pt .
