Life size Royal mask in bronze - IFE - Nigeria, Benin City region, Africa.

Buyer conditions

Definitions

 

The Auction House: this means Auction House Medusa

 

The Auctioneer: this refers to the employee of the auction house who leads the Auction and whether or not allots lots.

 

The Lot: An object or combination of objects that is offered in one sale.

 

Written Bid: A secret binding maximum bid issued via the internet or bidding form that is made known by the Prospect Buyer to the auction house prior to the auction so that it can bid on behalf of the Prospect Buyer up to his or her maximum.

 

Prospective Buyer: An interested person in a Lot.

 

Bidder: A Prospective Buyer who bids on a Lot.

 

Buyer: He or She who is assigned a Lot from the Auctioneer.

 

Underbidder: The Prospect Buyer who makes the second highest bid.

 

Hammer amount: Amount for which the Auctioneer declines a Lot.

 

The Purchase: The agreement that arises after the allocation of a Lot to a Buyer.

 

A Condition Report: A description of the physical condition of a Lot by an auction employee.

 

“AS IS”: The physical condition of the Lot at the time of sale, including defects and shortcomings.

 

Live Online: The way in which the auction is carried out. The regular auction is streamed live via cameras. Prospective Buyers can therefore bid not only in the hall, but also via the internet.

 

 

Applicability

 

1.1

 

The general terms and conditions apply to all auctions of Medusa Auctioneers. Unless expressly stated otherwise.

 

1.2

 

Deviation from the general terms and conditions is only possible if this has been agreed in writing.

 

1.3

 

The applicability of the auction conditions will be announced on our website, but are also available for inspection at our offices. The conditions for submission are attached to our intake form, a copy of this will remain with the sender. When registering to participate in an auction, you must accept the general terms and conditions of purchase.

 

1.4 

 

The applicability of these terms and conditions is exclusively governed by Dutch law.

 

 

Research and information obligation

 

2.1

 

A lot is sold “as is”. This means that a Lot is sold in the condition in which it is on the auction day at the time of the Auction. The descriptions in the auction catalog are drawn up to the best of our knowledge and ability and according to the current state of knowledge. Photos can be part of the description. However, no rights can be derived from photos and/or descriptions.

 

2.2

 

Before the auction, the Buyer is given the opportunity to inspect the Lot accurately and extensively, in order to form his own opinion about the properties of the Lot. Listings in the catalog about the condition of the lot cannot be exhaustive. While no rights can be derived from the lack of a description of the condition in the catalog. The Prospective Buyer has the option of requesting a so-called Condition Report or additional photos. The Auction House is not obliged to provide these, because this is sometimes not possible, for example due to a lack of specific knowledge or time. The weighting and assessment of the information provided by the Auction House about the condition ultimately lies with the Buyer.

 

2.3

 

Disclaimer: The Auction House gives its opinion on the condition of a lot in a Condition Report. Condition reports are drawn up to the best of the auction house's knowledge and ability. The employees of the auction house are not professional restorers, but only report their observations. A Condition Report cannot replace the buyer's own investigation obligation. No rights can therefore be attached to a Condition Report. The auction house is not obliged to provide a condition report. The additional photos are made on request and sent digitally. No rights can be derived from these photos either. They do not relieve the prospective buyer of his research duty.

 

 

the bidding

 

3.1

 

Bidding is made in euros.

 

3.2

 

The Prospective Buyer may bid in person. He can do this in the auction room, but also Live Online by creating an account on our platform, or via external platforms that the auction house facilitates.

 

3.3

 

The Prospective Buyer can also leave a written offer. He can do this via a so-called online bid form prior to the auction. The Auctioneer will include the bid in the auction and bid on behalf of the bidder. This written offer is secret and not public to third parties.

 

3.4

 

A written offer must be submitted four hours before the auction. Later bids cannot be included in the auction.

 

3.5

 

In the event of an equal written bid, the earlier bid exceeds the later bid. The second bidder is automatically notified.

 

 

Acceptance of a bid

 

4.1

 

The offer must be unambiguous and clear. No conditions can be attached to an offer.

 

4.2

 

A bid that has been accepted by the Auctioneer leads to an irrevocable and definitive purchase agreement. This agreement is binding. Unless the Auctioneer has to reopen or re-auction the Lot due to a technical error.

 

4.2

 

The Auctioneer can refuse a bid without stating reasons, or give priority to another bid in the event of an equal and simultaneous bid.

 

4.3

 

Prior to the auction, the Auctioneer may establish the reliability of the Buyer or the bid by means of questions. He may also ask for securities, including so-called “hand money”. This can be up to 25% of the purchase price.

 

4.4

 

The auction house will label negligent buyers as “unreliable” and exclude them from the auction. This also includes future auctions. It will also report these as “unreliable” to the international platforms it facilitates, so that buying elsewhere at auction via these platforms is also excluded.

 

4.5

 

The Auction House excludes any liability with regard to a written bid that has not been received.

 

 

The sale

 

5.1

 

A sale is concluded by allocation of the Auctioneer.

 

5.2

 

The Buyer is deemed to have purchased for himself and for his own account.

 

5.3

 

A sale is (with the exception of art. 7) binding and irrevocable.

 

 

Purchase price

 

6.1

 

The purchase price is composed of:

 

a. The hammer amount. This is the amount for which the auctioneer declines and allocates the Lot.

 

b. Plus the premium. This is 29.5% of the hammer amount. Up to an amount of 50,000 euros. above that a rate of 22.5% applies.

 

c. The hammer money. This is a fixed amount of 1.75 euros per purchased Lot.

 

6.2

 

The purchase price must be paid 7 days (5 working days) after sending the invoice.

 

6.3

 

Auction House Medusa is a NON-cash auction house. Cash payments are not accepted.

 

 

Cancel purchase agreement

 

7.1

 

A sale at auction is expressly not a sale at a distance. Dissolution on the basis of the right of withdrawal is therefore not possible.

 

7.2 

 

A sale can be canceled if a Buyer can demonstrate that an object is a falsification, that the Auction House has failed in its duty to investigate, or that the object is no longer in the condition as described in the catalog and this is not done verbally during the auction or prior to the auction has been notified to the Prospective Buyers by means of an erratum. The buyer must prove a forgery by means of a certified report from a generally accepted expert in the relevant field. Reports from general appraisers or fellow auctioneers cannot be accepted.

 

7.3

 

A sale can also be canceled if it appears that the object has a “war origin” and is classified as looted art. This must be conclusively proven or to the satisfaction of the Auction House.

 

7.4

 

A sale cannot be canceled on the basis of an incorrect description in the catalog unless these relate to real/counterfeit, content and weight of gold, silver and/or precious stones. Formats, wood and (other) metal types, markings, etc. are therefore expressly excluded.

 

7.5

 

Damage to frames or glass (in the case of mirrors, paintings, drawings, watercolors and graphics) can expressly not lead to dissolution of the Purchase. Whenever and however this damage occurred.

 

7.6

 

The intention to dissolve must be made known to the auction house within 14 days of the Auction.

 

7.7

 

The condition for taking back the Lot is that the Lot in question is in the same condition as it was during the Purchase, to the satisfaction of the Auction House.

 

 

Import and export restrictions

 

8.1 

 

The Auction House provides so-called CITES declarations where necessary.

 

8.2 

 

The Auction House is not responsible for legal import or export restrictions in specific countries. The buyer is responsible for obtaining the permits.

 

8.3

 

The Auction House is not liable for seizures by authorities of objects that are designated as prohibited by the authorities.

 

 

Rights of the Auction House

 

9.1

 

The Auction House is entitled to award or not to award a Lot, to hold it or to withdraw it from the auction without stating reasons.

 

9.2

 

The Auction House may change, merge or split the order of the Auction or Lots.

 

9.3

 

After the sale, the Auction House may claim the entire purchase price, including premiums and costs, from the Buyer.

 

9.4

 

In the event of a negligent buyer, the Auction House may decide to dissolve the Purchase and sell the Lot to the underbidder or sell it privately. The Auction House may then recover the costs or lost income from the Buyer.

 

 

Pick up purchases

 

10.1

 

The collection of purchased Lots must take place by appointment within 14 days after the Auction.

 

10.2

 

If a Buyer does not collect his or her purchase or does not collect it on time, the Auction House may charge storage costs for this. If the Buyer persists in not collecting the Lot, the Auction House is entitled to re-auction the lot to cover the costs of storage. The Buyer will be notified of this.

 

10.3

 

The storage costs are 5 euros per object for small lots. For furniture and large lots this is 10 euros per week.

 

10.4

 

The purchases are no longer insured by Veilinghuis Medusa after the collection period has expired and Buyers can no longer claim termination due to damage or defects arising after the auction. Also because the term referred to in Article 7.4 has expired.

 

 

Liability Auction House Medusa

 

11.1

 

Veilinghuis Medusa is not liable for trading loss, consequential loss, financial loss or any other loss.

 

11.2

 

Entering the Velinghuis Medusa buildings is at your own risk.

 

11.3

 

Veilinghuis Medusa is not liable for damage to persons or property during viewing days, visits or collection of purchases. Unless this is due to recklessness or serious negligence on the part of Auction House Medusa.