Terms and Conditions
The “Auction House Algarve – Mark John Monkman” (AHAlgarve), regulates its auction activity by the Decreto-Lei n.º 155/2015, which establishes the legal framework of the activity, and by the Terms & Conditions as per the following general contractual clauses.
Introduction to Auction.
The Auctioneer acts only as agent for the Seller (unless otherwise specifically declared). Accordingly Sellers need not be paid until payment is received from the buyer. Lots sold are likely to have been subject to wear and tear caused by use or the effects of age and may, therefore, have faults and imperfections. Buyers are given ample opportunity at viewing times to examine lots to be sold and will be assumed to have done so. They must rely on their own skill and judgement as to whether lots are fit for any particular purpose, and as to compliance with the description or illustration.
1. These conditions, together with any additional conditions appearing in the catalogue, are the terms and conditions subject to which AHAlgarve as agents for the vendor shall sell goods to the purchaser, (The Bidder), and all other conditions, whether express, or implied at common law, or by statute, as are capable of lawful exclusion are hereby excluded. By participating in this sale all vendors and purchasers agree to be bound by these conditions and are deemed to have read and have full knowledge of them.
2. The highest bidder shall be the buyer at the hammer price except in the case of a dispute. If during the auction the auctioneer considers that a dispute has arisen, he has absolute discretion to settle it or to re-offer the lot.
3. The Auctioneers have the right to divide any lot, to combine any two or more lots together or to withdraw any lot or lots from sale, regulate the bidding, refuse bids or cancel the sale without giving any notice or reason whatsoever.
4. The Auctioneers have the right at their discretion to refuse entry to their premises, attendance or participation at their auctions of any person who has failed with its rules & regulations.
5. Whilst The Auctioneers make every effort to ensure the accuracy of their catalogue and description of any lot they do not accept responsibility regarding authenticity, attribution, genuineness, origin, authorship, date, age, period, condition or quality of any lot. All goods are sold with faults and imperfections and errors of description. If they have been instructed in writing by the vendor to certify a lot, The Auctioneers do so as agents of the vendor and are not themselves responsible for such claims. All statements whether printed in the catalogue or made orally are statements of opinion and are not to be taken as being or implying any warranties or representations of fact. All Bidders should rely on their own judgement as to matters affecting any lot.
6. The Auctioneer shall only accept bids from the purchasers who have, to the auctioneers’ satisfaction, registered and obtained a bidding number.
7. Persons attending the auction site and premises do so at their own risk. The Auctioneers shall not be responsible for any loss or damage that may occur on the auction site or premises.
8. Commission shall be charged at a rate of 20% or 25% of the hammer price. The commission value will also be subject to an IVA charge, calculated at the prevailing rate.
9. Immediately prior to the auction the Bidder shall: give to the Auctioneers his name and address, and, if requested, proof of identity.
10 A). At the end of LIVE / PRESENCIAL BIDDING, the Bidder shall pay to the Auctioneers, as a minimum, the total amount of commission and taxes due to their purchases in respect of such lots, unless specific arrangements have been made, either by cash or by multibanco payment. The due balance must be paid in full by 4:00pm of the date enclosed on the invoice. Items must be removed from the Auction House immediately. Failure to do so may result in the forfeit of the lot(s) and any deposits paid.
10 B). At the end of ONLINE / INTERNET BIDDING, the Bidder shall pay full amount owed by 4:00pm of the date enclosed on the invoice, sent by e-mail, after the auction. Payment can be done in Cash, Bank Transfer or by Portuguese Debit Card (Multibanco).Items must be removed from the Auction House also by 4:00pm of the date provided on the invoice.mmediately.
11. In all cases lots shall remain at the risk of the Vendor save that lots shall be at the sole risk of the Bidder from the fall of the hammer, and such lots shall be taken with all faults, defects and errors of description, of any nature whatsoever. Neither the Auctioneers, nor their servants or agents shall at any time be responsible for any loss or damage to lots whether caused by negligence or otherwise. NO PURCHASER SHALL BE ENTITLED TO REMOVE ANY LOT UNTIL HE OR SHE HAS PAID FOR THE WHOLE OF THE LOTS PURCHASED.
12. All lots shall be removed by 4.00pm of the date indicated on the sent invoice after the auction.
13. When fails to comply with terms on n. 10 and n. 12, the Bidder shall be liable to pay penaltiy charges of €5.00 per lot, per day (subject to IVA). Consequentely, the lot(s) shall be resold by public auction or private sale and the deficiency (if any) arising upon the resale together with the expenses of it shall be due as a debt from the Bidder in default upon the first sale.
14. When Bidder fails completely with these conditions, there shall be issued the invoice with according penalty charges and the Bidder shall be advised to fullfill with payment.
15. Ownership in each lot shall not pass to the Bidder until full payment has been made (in cleared funds) of all sums due to the Vendor and the Auctioneers pursuant to these Conditions.
16. Pre-bids / Out of Room Bids will only be accepted by The Auctioneers on completion of a pre bid form by The Bidder, clearly stating the maximum bid. Bidders are requested to contact us by telephone or in person as soon as possible after the auction to obtain details of the outcome of their bids. You, the Bidder, understand that The Auctioneers provide the service of pre bids for its customers and that The Auctioneers are not responsible for failing to execute bids or for errors relating to the execution of bids. The Auctioneers will endeavour to purchase these lots for the lowest possible price, taking into account any reserve or other bids. If identical pre bids are taken for the same lot, the written bid first received by The Auctioneers will take precedence. Bids made in-house always take precedence over out-of-room bids, pre-bids or commission bids.
1. The Vendor warrants to the Auctioneer and to the Bidder that he/she is the true owner of the lot or is properly authorised to sell the lot by the true owner and is able to transfer the goods and marketable title to the lot free from any third party claims, liens or encumbrances.
2. The Vendor warrants to the Auctioneers and the Bidder that the goods as described and in particular as to the provenance and condition. The Vendor further warrants that any damage or non working parts have been fully declared to the Auctioneers and that the Vendor has provided the Auctioneers with all the information the Vendor has concerning the provenance of the property.
3. The Auctioneers act throughout as agents only and are not responsible for any default by either the Vendor or the Bidder. The Auctioneers shall not be liable for paying the Vendor until they have received settlement in full (in cleared funds) of all sums due from the Bidder.
4. The Vendor must acknowledge and accept that goods are left entirely at their own risk. The Auctioneers do not accept any responsibility for loss or damage whilst in their possession. No goods will be insured whilst held by The Auctioneers for sale.
5. The vendor shall be entitled to place prior to the sale a reserve on any lot, being the minimum hammer price at which the said lot may be treated as sold. Where a reserve has been placed the auctioneer may bid on behalf of the vendor.
6. Commission shall be charged at a rate agreed between the vendor and AHAlgarve. The Vendor hereby authorizes the Auctioneers to deduct all commission payable from the hammer price and acknowledges the Auctioneers right to retain the premium payable by the Bidder.The Auctioneers shall remit the proceeds of the sale to the Vendor (subject to the deduction of all sums due from the Vendor to the Auctioneers)
7. The Auctioneers do not undertake the collection of goods but shall however if desired instruct a contractor on the Vendors behalf and at his expense. The Auctioneers shall not be liable for any damage, loss, or unauthorised removal of goods and for any damage to premises by such contractors.
8. All goods which remain unclaimed will be disposed of at the Auctioneers discretion.
9. The Vendor will be liable for any costs incurred in disposal of unclaimed goods.
These general contractual clauses are regulated by the Portuguese Law. Any litigation, dispute or conflict related to its interpretation, validity or fullfillment, or any other questions that may arise, will be subject to the Faro District Court´s competence and juristicion.
Inspite of the existance of an English version of these clauses, the Portuguese version will prevail over any other version.