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Home Aucation Rules
11/21/2014 1:43:36 PM

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Auction Rules

1. This is an on-line, vetted, absentee auction. Each lot has a printed, estimated value range and the closing time of the lot. Each lot also has an opening bid which is generally about 1/2 of the low estimate, but may vary. The opening bid is the reserve.
The estimates are intended as a quide only. The closing times listed are New York time (Eastern Daylight Time).

2. There are several ways to bid. You may see current bid standings and place bids 24 hours a day, 7 days a week on-line at www.arteprimitivo.com or you may bid manually by telephone, fax, e-mail or in person at the gallery. In any case, you must register to bid. On-line bidders will need a valid credit card to register. Manual bidders will also need a valid credit card, unless prior credit arrangements have been made or you are known to us.

3. If requested, on-line bidders will receive an e-mail notifying them if they have been outbid, as long as they bid at least one day prior to the lot closing time.

4. For manual bidders, we strongly recommend that you call, fax or e-mail your bids in, rather than using the Postal Service, especially if the sale date is less than a week away. Early bidding is recommended as one risks losing a lot if you are unable to reach us in time.

5. A buyers premium equal to 20% will be added to the hammer price of each lot.

6. Payment is due, in full, upon receipt of invoice, unless specific other arrangements have been made prior to the auction. Lots will be shipped only after payment in full and in the order in which they are received. Final invoices will not automatically be charged to your credit card unless requested. Credit card payments will be subject to a 5% surcharge due to credit card processing fees. You may choose to pay by check or bank wire, however, all unpaid invoices, 30 days old will be charged to your credit card with the 5% credit card surcharge and a late fee equal to 1% of your total unpaid balance. Failure to settle your auction invoice within 30 days may also, at our discretion, result in forfeiture of the lots as well as future bidding privileges. Should an invoice remain unpaid after 30 days and we are unable to collect via credit card, we then reserve the right to use any and all remedies available to us by law, to collect monies due, plus incurred fees and penalties, as stated.

7. New York State sales tax will be added to your invoice unless you are tax exempt, and we have a copy of your resale certificate on file or your lots are shipped out of state. No exceptions. As a service to our clients, we can arrange shipment of your purchase. Shipping charges listed on-line are estimates only and could vary slightly once shipment is made. Shipping and handling fees will be added to your invoice unless items are picked-up at the gallery. Domestic shipping will be via U.P.S. unless oversized or otherwise requested. Non USA shipping charges will not be added your invoice. Shipping will be by Post, FEDEX or BAX and will be billed directly to your credit card for freight charges only. Any applicable duty or VAT is the client’s responsibility and may be charged to your credit card if charged back to us. Multiple lots will be shipped at a reduced rate.

8. You may call the gallery prior to the closing times of the auction lots to place new bids or to check the status of your already placed bids and adjust them if necessary. Incoming bids will be accepted until the closing time of the individual lot, however, we strongly recommend not waiting until the last minute to place your bids as phone lines may be congested.

9. Your bid, either written, oral or electronic grants Arte Primitivo the authority to protect you up to the limit set by you on your stated bid, but not to bid your full bid amount unless the next recorded bid below yours supports that limit. The buyer’s premium will be added to your limit.

10. Only the current high bid will be disclosed by the electronic auctioneer, not the top bid. In the event of tied bids, the earliest received bid will be adjudged the high bidder.

11. The current high bid is determined by taking the second highest bid and increasing it by one increment. Bidding Increments are as follows: Up to $750 - $25; $750 to 1,500 - $50; $1,500 to $3,000 - $100; $3,000 to $7,500 - $250; $7,500 to $15,000 - $500; over $15,000 - $1,000. Example: you bid $1000 on a lot which has a minimum bid/reserve of $500. Your bid is the highest received to date. The second highest bid received, to date, is $525. The current high bid is yours at $550. Any new bid received below your bid of $1000 will automatically be topped by the auctioneer, bidding for your account.

12. No lot will hammer down while there is still bidding activity on it. If the lot closing time is less than 5 minutes away, any newly placed bid will extend that lot closing time for an additional 5 minutes, plus the remainder of that minute fraction. There is no limit as to how many 5 minute extensions may occur. When no bidding occurs for 5 minutes prior to the printed or extended closing time, the lot will then hammer to the highest bidder.

13. All lots are guaranteed genuine, as described both as to condition and authenticity. Sizes listed are the longest possible measure, excluding stands or mounts. Mounts are included with lots only when listed in the descriptions. Any lot may be returned within ten days if inaccurately described as to age, extent of damage or repair. All returned lots must be adequately insured against loss or damage and must be received by us in the same condition as when shipped. Any dispute as to authenticity, must be made within three months of the sale date. After that period, all sales will be considered final. Accurately described lots are not returnable. Any lot returned after the consignor has been paid (45 days after auction closing date) will be for credit only. Prompt payment and pick-up is recommended to avoid late fees and late return situations.

14. Lots will be on view at the gallery for a period of two weeks, prior to the closing times, and during viewing hours. Multiple, color images of each lot may be viewed on-line at (www.arteprimitivo.com).

15. UNSOLD LOTS may be re-offered immediately after the auction on a buy or bid basis, pending consignor approval, and with their closing times being postponed for up to one week from their originally listed closing time. Should you bid the buy now price, plus the 20% buyer’s premium, on any re-offered, unsold lot, then you win the lot and the auction ends. If you bid an amount beneath the buy now price, and your bid is the highest received, we will, upon the close of that lot, negotiate that bid, with the consignor. Should the consignor judge the offer unacceptable, then there shall be no sale of that lot. If the offer is accepted, you will be invoiced for the bid price, plus the buyer’s premium and any applicable shipping charges or sales tax.

16. Auctioneer reserves the right to withdraw any lot for any reason, prior to the auction closing. We are not responsible for any typographical errors either in the printed catalogue or in the on-line catalogue. In the event of a system, site or internet failure, auctioneer reserves the right to postpone any closing time and date of any unsold lots. We will execute absentee bids, at the bidders request, faithfully and to the best of our ability, but we assume no responsibility for errors, deletions or omissions. Any disputed lot may be re-offered or re-opened for extended bidding, at the auctioneers discretion.


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