Terms and Conditions
Terms and Conditions & Privacy Policy
By submitting your bid, you agree that:
• You have read and agree with the Auctioneer Terms and Conditions & Privacy Policy below and the Invaluable Terms of Use Agreement
• You agree to pay a buyer's premium of up to 25.00% and any applicable taxes and shipping.
The Fine Art Experience - Conditions of Sale
1. INTRODUCTION
Each lot in this catalogue is offered for sale and sold subject to: (a) the Conditions of Sale and Authorship Warranty; (b) additional notices and terms printed in other places in this catalogue, including the Guide for Prospective Buyers and (c) supplements to this catalogue or other written material posted by The Fine Art Experience in the saleroom, in each case as amended by any addendum or announcement by the auctioneer prior to the auction.
By bidding at the auction, whether in person, through an agent, by written bid, by telephone, online or other means, bidders and buyers agree to be bound by these Conditions of Sale, as so changed or supplemented, and Authorship Warranty.
These Conditions of Sale, as so changed or supplemented, and Authorship Warranty contain all the terms on which The Fine Art Experience and the seller contract with the buyer.
2. The Fine Art Experience AS AGENT
The Fine Art Experience acts as an agent for the seller, unless otherwise indicated in this catalogue or at the time of auction. On occasion, The Fine Art Experience may own a lot directly, in which case we will act in a principal capacity as a consignor, or a company affiliated with The Fine Art Experience company may have a legal, beneficial or financial interest in a lot as a secured creditor or otherwise
3. CATALOGUE DESCRIPTIONS AND CONDITION OF PROPERTY
Lots are sold subject to the Authorship Warranty, as described in the catalogue (unless such description is changed or supplemented, as provided in Paragraph 1 above) and in the condition that they are in at the time of the sale on the following basis:
(a) The knowledge of The Fine Art Experience in relation to each lot is partially dependent on information provided to us by the seller, and The Fine Art Experience is not able to and does not carry out exhaustive due diligence on each lot. Prospective buyers acknowledge this fact and accept responsibility for carrying out inspections and investigations to satisfy themselves as to the lots in which they may be interested. Notwithstanding the foregoing, we shall exercise such reasonable care when making express statements in catalogue descriptions or condition reports as is consistent with our role as auctioneer of lots in this sale and in light of (i) the information provided to us by the seller; (ii) scholarship and technical knowledge and (iii) the generally accepted opinions of relevant experts, in each case at the time any such express statement is made.
(b) Each lot offered for sale at The Fine Art Experience is available for inspection by prospective buyers prior to the auction. The Fine Art Experience accepts bids on lots on the basis that bidders (and independent experts on their behalf, to the extent appropriate given the nature and value of the lot and the bidder's own expertise) have fully inspected the lot prior to bidding and have satisfied themselves as to both the condition of the lot and the accuracy of its description.
(c) Prospective buyers acknowledge that many lots are of an age and type which means that they are not in perfect condition. As a courtesy to clients, The Fine Art Experience may prepare and provide condition reports to assist prospective buyers when they are inspecting lots. Catalogue descriptions and condition reports may make reference to particular imperfections of a lot, but bidders should note that lots may have other faults not expressly referred to in the catalogue or condition report. All dimensions are approximate. Illustrations are for identification purposes only and cannot be used as precise indications of size or to convey full information as to the actual condition of lots.
(d) Information provided to prospective buyers in respect of any lot, including any pre-sale estimate, whether written or oral, and information in any catalogue, condition or other report, commentary or valuation, is not a representation of fact but rather a statement of opinion held by The Fine Art Experience. Any pre-sale estimate may not be relied on as a prediction of the selling price or value of the lot and may be revised from time to time by The Fine Art Experience in our absolute discretion. Neither The Fine Art Experience nor any of our affiliated companies shall be liable for any difference between the pre-sale estimates for any lot and the actual price achieved at auction or upon resale.
4. BIDDING AT AUCTION
(a) The Fine Art Experience has absolute discretion to refuse admission to the auction or participation in the sale. All bidders must register prior to bidding, supplying such information and references as required by The Fine Art Experience.
(b) As a convenience to bidders who cannot attend the auction in person, The Fine Art Experience may, if so instructed by the bidder, execute written absentee bids on a bidder's behalf. Absentee bidders are required to submit bids on the "Absentee Bid Form," a copy of which is printed in this catalogue or otherwise available from The Fine Art Experience. Bids must be placed in the currency of the sale. The bidder must clearly indicate the maximum amount he or she intends to bid, excluding the buyer's premium and any applicable sales or use taxes. The auctioneer will not accept an instruction to execute an absentee bid which does not indicate such maximum bid. Our staff will attempt to execute an absentee bid at the lowest possible price taking into account the reserve and other bidders. Any absentee bid must be received at least 24 hours in advance of the sale. In the event of identical bids, the earliest bid received will take precedence.
(c) Telephone bidders are required to submit bids on the "Telephone Bid Form," a copy of which is printed in this catalogue or otherwise available from The Fine Art Experience. Telephone bidding is available for lots whose low pre-sale estimate is at least $1000. The Fine Art Experience reserves the right to require written confirmation of a successful bid from a telephone bidder by fax or otherwise immediately after such bid is accepted by the auctioneer. Telephone bids may be recorded and, by bidding on the telephone, a bidder consents to the recording of the conversation.
(d) Bidders may participate in an auction by bidding online through The Fine Art Experience 's online live bidding platform available on our website at www.thefineartexperience.com. To bid online, bidders must register online at least 24 hours before the start of the auction. Online bidding is subject to approval by The Fine Art Experience 's bid department in our sole discretion. As noted in Paragraph 3 above, The Fine Art Experience encourages online bidders to inspect prior to the auction any lot(s) on which they may bid, and condition reports are available upon request. Bidding in a live auction can progress quickly. To ensure that online bidders are not placed at a disadvantage when bidding against bidders in the room or on the telephone, the procedure for placing bids through The Fine Art Experience 's online bidding platform is a one-step process. By clicking the bid button on the computer screen, a bidder submits a bid.
Online bidders acknowledge and agree that bids so submitted are final and may not under any circumstances be amended or retracted. During a live auction, when bids other than online bids are placed, they will be displayed on the online bidder's computer screen as 'floor,' 'phone' or 'paddle no' bids. 'Floor' bids include bids made by the auctioneer to protect the reserve. In the event that an online bid and a 'floor' or 'phone' bid are identical, the 'floor' or 'phone' bid will take precedence. The next bidding increment is shown for the convenience of online bidders under the bid button. The bidding increment available to online bidders may vary from the next bid actually taken by the auctioneer, as the auctioneer may deviate from The Fine Art Experience 's standard increments at any time at his or her discretion, but an online bidder may only place a bid in a whole bidding increment. The Fine Art Experience 's bidding increments are published in the Guide for Prospective Buyers.
(e) When making a bid, whether in person, by absentee bid, on the telephone or online, a bidder accepts personal liability to pay the purchase price, as described more fully in Paragraph 6 (a) below, plus all other applicable charges unless it has been explicitly agreed in writing with The Fine Art Experience before the commencement of the auction that the bidder is acting as agent on behalf of an identified third party acceptable to The Fine Art Experience and that we will only look to the principal for such payment.
(f) By participating in the auction, whether in person, by absentee bid, on the telephone or online, each prospective buyer represents and warrants that any bids placed by such person, or on such person's behalf, are not the product of any collusive or other anti-competitive agreement and are otherwise consistent with federal and state antitrust law.
(g) Arranging absentee, telephone and online bids is a free service provided by The Fine Art Experience to prospective buyers. While we undertake to exercise reasonable care in undertaking such activity, we cannot accept liability for failure to execute such bids except where such failure is caused by our willful misconduct.
(h) Employees of The Fine Art Experience and our affiliated companies, including the auctioneer, may bid at the auction by placing absentee bids so long as they do not know the reserve when submitting their absentee bids and otherwise comply with our employee bidding procedures.
5. CONDUCT OF THE AUCTION
(a) Unless otherwise indicated by the symbol • each lot is offered subject to a reserve, which is the confidential minimum selling price agreed by The Fine Art Experience with the seller. The reserve will not exceed the low pre-sale estimate at the time of the auction.
(b)The auctioneer has discretion at any time to refuse any bid, withdraw any lot, re-offer a lot for sale (including after the fall of the hammer) if he or she believes there may be error or dispute and take such other action as he or she deems reasonably appropriate. The Fine Art Experience shall have no liability whatsoever for any such action taken by the auctioneer. If any dispute arises after the sale, our sale record is conclusive. The auctioneer may accept bids made by a company affiliated with The Fine Art Experience provided that the bidder does not know the reserve placed on the lot.
(c) The auctioneer will commence and advance the bidding at levels and in increments he or she considers appropriate. In order to protect the reserve on any lot, the auctioneer may place one or more bids on behalf of the seller up to the reserve without indicating he or she is doing so, either by placing consecutive bids or bids in response to other bidders. If a lot is offered without reserve, unless there are already competing absentee bids, the auctioneer will generally open the bidding at 50% of the lot's low pre-sale estimate. In the absence of a bid at that level, the auctioneer will proceed backwards at his or her discretion until a bid is recognized and will then advance the bidding from that amount. Absentee bids on no reserve lots will, in the absence of a higher bid, be executed at approximately 50% of the low pre-sale estimate or at the amount of the bid if it is less than 50% of the low pre-sale estimate. If there is no bid whatsoever on a no reserve lot, the auctioneer may deem such lot unsold.
(d) The sale will be conducted in US dollars and payment is due in US dollars. For the benefit of international clients, pre-sale estimates in the auction catalogue may be shown in pounds sterling and/or euros and, if so, will reflect approximate exchange rates. Accordingly, estimates in pounds sterling or euros should be treated only as a guide. If a currency converter is operated during the sale, it is done so as a courtesy to bidders, and The Fine Art Experience accepts no responsibility for any errors in currency conversion calculation.
(e) Subject to the auctioneer's reasonable discretion, the highest bidder accepted by the auctioneer will be the buyer and the striking of the hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the seller and the buyer. Risk and responsibility for the lot passes to the buyer as set forth in Paragraph 7 below.
(f) If a lot is not sold, the auctioneer will announce that it has been "passed," "withdrawn," "returned to owner" or "bought-in."
(g) Any post-auction sale of lots offered at auction shall incorporate these Conditions of Sale and Authorship Warranty as if sold in the auction.
6. PURCHASE PRICE AND PAYMENT
(a) The buyer agrees to pay us, in addition to the hammer price of the lot, the buyer's premium and any applicable sales tax (the "Purchase Price"). The buyer's premium is 25% of the hammer price up to and including $100,000, 20% of the portion of the hammer price above $100,000 up to and including $2,000,000 and 12% of the portion of the hammer price above $2,000,000. The Fine Art Experience reserves the right to pay from our compensation an introductory commission to one or more third parties for assisting in the sale of property offered and sold at auction.
(b) Sales tax, use tax and excise and other taxes are payable in accordance with applicable law. All prices, fees, charges and expenses set out in these Conditions of Sale are quoted exclusive of applicable taxes. The Fine Art Experience will only accept valid resale certificates from US dealers as proof of exemption from sales tax. All foreign buyers should contact the Client Accounting Department about tax matters.
(c) Unless otherwise agreed, a buyer is required to pay for a purchased lot immediately following the auction regardless of any intention to obtain an export or import license or other permit for such lot. Payments must be made by the invoiced party in US dollars either by cash, check drawn on a US bank or wire transfer, as follows:
(ii) Personal checks and banker's drafts are accepted if drawn on a US bank and the buyer provides to us acceptable government issued identification. Checks and banker's drafts should be made payable to " The Fine Art Experience." If payment is sent by mail, please send the check or banker's draft to the attention of the Client Accounting Department at 29 Glenhuron Dr. Barrie, ON L4M6T4 and make sure that the sale and lot number is written on the check. Checks or banker's drafts drawn by third parties will not be accepted. Lots will only be released once the personal check or bank draft has been fully cleared and deposited in The Fine Art Experience Account.
(iii) Payment by wire transfer may be sent directly to The Fine Art Experience. Bank transfer details:
TD Canada Trust
33 Collier St. Suite 100 Barrie, ON L4M 1G5
Transit: 20722
Institution: 004
For the account of Experience Network Productions Inc.
Account no.: 2072 - 7308089
Please reference the relevant sale and lot number.
(d) As a courtesy to clients, The Fine Art Experience will accept Visa and MasterCard to pay for invoices of $100,000 or less. A processing fee will apply.
(e) Title in a purchased lot will not pass until The Fine Art Experience has received the Purchase Price for that lot in cleared funds. The Fine Art Experience is not obliged to release a lot to the buyer until title in the lot has passed and appropriate identification has been provided, and any earlier release does not affect the passing of title or the buyer's unconditional obligation to pay the Purchase Price.
7. COLLECTION OF PROPERTY
(a) The Fine Art Experience will not release a lot to the buyer until we have received payment of its Purchase Price in full in cleared funds, the buyer has paid all outstanding amounts due to The Fine Art Experience The Fine Art Experience or any of our affiliated companies, including any charges payable pursuant to Paragraph 8 (a) below, and the buyer has satisfied such other terms as we in our sole discretion shall require, including completing any anti-money laundering or anti-terrorism financing checks. As soon as a buyer has satisfied all of the foregoing conditions, he or she should contact our Shipping Department at +1 289-464-6662 or +1 844-464-6662 to arrange for collection of purchased property.
(b) The buyer must arrange for collection of a purchased lot within 30 days of the date of the auction. Promptly after the auction, we will transfer all lots to our gallery warehouse located at 18696 The Gore Rd. Caledon, ON. L7K 2M7 Canada during our regular weekday business hours. As a courtesy to clients, The Fine Art Experience will upon request transfer on a bi-weekly basis purchased lots suitable for hand carry back to our Gallery for collection within 30 days following the date of the auction. Purchased lots are at the buyer's risk, including the responsibility for insurance, from the earlier to occur of (i) the date of collection or (ii) seven days after the auction. Until risk passes, The Fine Art Experience will compensate the buyer for any loss or damage to a purchased lot up to a maximum of the Purchase Price paid, subject to our usual exclusions for loss or damage to property.
(c) As a courtesy to clients, The Fine Art Experience will, without charge, wrap purchased lots for hand carry only. We will, at the buyer's expense, either provide packing, handling, insurance and shipping services or coordinate with shipping agents instructed by the buyer in order to facilitate such services for property bought at The Fine Art Experience. Any such instruction, whether or not made at our recommendation, is entirely at the buyer's risk and responsibility, and we will not be liable for acts or omissions of third party packers or shippers. Third party shippers should contact us by telephone at +1 212 940 1376 or by fax at +1 212 924 6477 at least 24 hours in advance of collection in order to schedule pickup.
(d) The Fine Art Experience will require presentation of government issued identification prior to release of a lot to the buyer or the buyer's authorized representative.
8. FAILURE TO COLLECT PURCHASES
(a) If the buyer pays the Purchase Price but fails to collect a purchased lot within 30 days of the auction, the buyer will incur a late collection fee of $10 per day for each uncollected lot. Additional charges may apply to oversized lots. We will not release purchased lots to the buyer until all such charges have been paid in full.
(b) If a purchased lot is paid for but not collected within six months of the auction, the buyer authorizes The Fine Art Experience, upon notice, to arrange a resale of the item by auction or private sale, with estimates and a reserve set at The Fine Art Experience 's reasonable discretion. The proceeds of such sale will be applied to pay for storage charges and any other outstanding costs and expenses owed by the buyer to The Fine Art Experience or our affiliated companies and the remainder will be forfeited unless collected by the buyer within two years of the original auction.
9. REMEDIES FOR NON-PAYMENT
(a) Without prejudice to any rights the seller may have, if the buyer without prior agreement fails to make payment of the Purchase Price for a lot in cleared funds within seven days of the auction, The Fine Art Experience may in our sole discretion exercise one or more of the following remedies: (i) store the lot at The Fine Art Experience 's premises or elsewhere at the buyer's sole risk and expense at the same rates as set forth in Paragraph 8 (a) above; (ii) cancel the sale of the lot, retaining any partial payment of the Purchase Price as liquidated damages; (iii) reject future bids from the buyer or render such bids subject to payment of a deposit; (iv) charge interest at 12% per annum from the date payment became due until the date the Purchase Price is received in cleared funds; (v) subject to notification of the buyer, exercise a lien over any of the buyer's property which is in the possession of The Fine Art Experience and instruct our affiliated companies to exercise a lien over any of the buyer's property which is in their possession and, in each case, no earlier than 30 days from the date of such notice, arrange the sale of such property and apply the proceeds to the amount owed to The Fine Art Experience or any of our affiliated companies after the deduction from sale proceeds of our standard vendor's commission and all sale-related expenses; (vi) resell the lot by auction or private sale, with estimates and a reserve set at The Fine Art Experience reasonable discretion, it being understood that in the event such resale is for less than the original hammer price and buyer's premium for that lot, the buyer will remain liable for the shortfall together with all costs incurred in such resale; (vii) commence legal proceedings to recover the hammer price and buyer's premium for that lot, together with interest and the costs of such proceedings; (viii) set off the outstanding amount remaining unpaid by the buyer against any amounts which we or any of our affiliated companies may owe the buyer in any other transactions; (ix) release the name and address of the buyer to the seller to enable the seller to commence legal proceedings to recover the amounts due and legal costs or (x) take such other action as we deem necessary or appropriate.
(b) As security to us for full payment by the buyer of all outstanding amounts due to The Fine Art Experience and our affiliated companies, The Fine Art Experience retains, and the buyer grants to us, a security interest in each lot purchased at auction by the buyer and in any other property or money of the buyer in, or coming into, our possession or the possession of one of our affiliated companies. We may apply such money or deal with such property as the Uniform Commercial Code or other applicable law permits a secured creditor to do. In the event that we exercise a lien over property in our possession because the buyer is in default to one of our affiliated companies, we will so notify the buyer. Our security interest in any individual lot will terminate upon actual delivery of the lot to the buyer or the buyer's agent.
(c) In the event the buyer is in default of payment to any of our affiliated companies, the buyer also irrevocably authorizes The Fine Art Experience to pledge the buyer's property in our possession by actual or constructive delivery to our affiliated company as security for the payment of any outstanding amount due. The Fine Art Experience will notify the buyer if the buyer's property has been delivered to an affiliated company by way of pledge.
10. RESCISSION BY THE FINE ART EXPERIENCE
The Fine Art Experience shall have the right, but not the obligation, to rescind a sale without notice to the buyer if we reasonably believe that there is a material breach of the seller's representations and warranties or the Authorship Warranty or an adverse claim is made by a third party. Upon notice of The Fine Art Experience 's election to rescind the sale, the buyer will promptly return the lot to The Fine Art Experience, and we will then refund the Purchase Price paid to us. As described more fully in Paragraph 13 below, the refund shall constitute the sole remedy and recourse of the buyer against The Fine Art Experience and the seller with respect to such rescinded sale.
11. EXPORT, IMPORT AND ENDANGERED SPECIES LICENSES AND PERMITS
Before bidding for any property, prospective buyers are advised to make their own inquiries as to whether a license is required to export a lot from the United States or to import it into another country. Prospective buyers are advised that some countries prohibit the import of property made of or incorporating plant or animal material, such as coral, crocodile, ivory, whalebone, Brazilian rosewood, rhinoceros horn or tortoiseshell, irrespective of age, percentage or value. Accordingly, prior to bidding, prospective buyers considering export of purchased lots should familiarize themselves with relevant export and import regulations of the countries concerned. It is solely the buyer's responsibility to comply with these laws and to obtain any necessary export, import and endangered species licenses or permits. Failure to obtain a license or permit or delay in so doing will not justify the cancellation of the sale or any delay in making full payment for the lot. As a courtesy to clients, The Fine Art Experience has marked in the catalogue lots containing potentially regulated plant or animal material, but we do not accept liability for errors or for failing to mark lots containing protected or regulated species.
12. DATA PROTECTION
(a) In connection with the supply of auction and related services, or as required by law, The Fine Art Experience may ask clients to provide personal data. The Fine Art Experience may take and retain a copy of government-issued identification such as a passport or driver's license. We will use your personal data (i) to provide auction and related services; (ii) to enforce these Conditions of Sale; (iii) to carry out identity and credit checks; (iv) to implement and improve the management and operations of our business and (v) for other purposes set out in our Privacy Policy published on The Fine Art Experience website at www.thefineartexperience.com (the "Privacy Policy") and available on request by info@thefineartexperience.com. By agreeing to these Conditions of Sale, you consent to our use of your personal data, including sensitive personal data, in accordance with the Privacy Policy. The personal data we may collect and process is listed, and sensitive personal data is defined, in our Privacy Policy. The Fine Art Experience may also, from time to time, send you marketing or promotional materials about us and our services. If you would prefer not to receive such information, please email us at info@thefineartexperience.com. Please also email us at this address to receive information about your personal data or to advise us if the personal data we hold about you is inaccurate or out of date.
(b) In order to provide our services, we may disclose your personal data to third parties, including professional advisors, shippers and credit agencies. We will disclose, share with and transfer your personal data to The Fine Art Experience 's affiliated persons (natural or legal) for administration, sale and auction related purposes. You expressly consent to such transfer of your personal data. We will not sell, rent or otherwise transfer any of your personal data to third parties except as otherwise expressly provided in this Paragraph 12.
(c) The Fine Art Experience 's premises may be subject to video surveillance and recording. Telephone calls (e.g., telephone bidding) may also be recorded. We may process that information in accordance with our Privacy Policy.
13. LIMITATION OF LIABILITY
(a) Subject to subparagraph (e) below, the total liability of The Fine Art Experience, our affiliated companies and the seller to the buyer in connection with the sale of a lot shall be limited to the Purchase Price actually paid by the buyer for the lot.
(b) Except as otherwise provided in this Paragraph 13, none of The Fine Art Experience, any of our affiliated companies or the seller (i) is liable for any errors or omissions, whether orally or in writing, in information provided to prospective buyers by The Fine Art Experience or any of our affiliated companies or (ii) accepts responsibility to any bidder in respect of acts or omissions, whether negligent or otherwise, by The Fine Art Experience or any of our affiliated companies in connection with the conduct of the auction or for any other matter relating to the sale of any lot.
(c) All warranties other than the Authorship Warranty, express or implied, including any warranty of satisfactory quality and fitness for purpose, are specifically excluded by The Fine Art Experience, our affiliated companies and the seller to the fullest extent permitted by law.
(d) Subject to subparagraph (e) below, none of The Fine Art Experience, any of our affiliated companies or the seller shall be liable to the buyer for any loss or damage beyond the refund of the Purchase Price referred to in subparagraph (a) above, whether such loss or damage is characterized as direct, indirect, special, incidental or consequential, or for the payment of interest on the Purchase Price to the fullest extent permitted by law.
(e) No provision in these Conditions of Sale shall be deemed to exclude or limit the liability of The Fine Art Experience or any of our affiliated companies to the buyer in respect of any fraud or fraudulent misrepresentation made by any of us or in respect of death or personal injury caused by our negligent acts or omissions.
14. COPYRIGHT
The copyright in all images, illustrations and written materials produced by or for The Fine Art Experience relating to a lot, including the contents of this catalogue, is and shall remain at all times the property of The Fine Art Experience and such images and materials may not be used by the buyer or any other party without our prior written consent. The Fine Art Experience and the seller make no representations or warranties that the buyer of a lot will acquire any copyright or other reproduction rights in it.
15. GENERAL
(a) These Conditions of Sale, as changed or supplemented as provided in Paragraph 1 above, and Authorship Warranty set out the entire agreement between the parties with respect to the transactions contemplated herein and supersede all prior and contemporaneous written, oral or implied understandings, representations and agreements.
(b) Notices to The Fine Art Experience shall be in writing and addressed to the department in charge of the sale, quoting the reference number specified at the beginning of the sale catalogue. Notices to clients shall be addressed to the last address notified by them in writing to The Fine Art Experience.
(c) These Conditions of Sale are not assignable by any buyer without our prior written consent but are binding on the buyer's successors, assigns and representatives.
(d) Should any provision of these Conditions of Sale be held void, invalid or unenforceable for any reason, the remaining provisions shall remain in full force and effect. No failure by any party to exercise, nor any delay in exercising, any right or remedy under these Conditions of Sale shall act as a waiver or release thereof in whole or in part.
16. LAW AND JURISDICTION
(a) The rights and obligations of the parties with respect to these Conditions of Sale and Authorship Warranty, the conduct of the auction and any matters related to any of the foregoing shall be governed by and interpreted in accordance with laws of the province of Ontario, excluding its conflicts of law rules.
(b) The Fine Art Experience, all bidders and all sellers agree to the exclusive jurisdiction of the (i) provincial courts of the province of Ontario located in Barrie, ON Canada and (ii) the federal courts for the province of Ontario to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Sale and Authorship Warranty relate or apply.
(c) All bidders and sellers irrevocably consent to service of process or any other documents in connection with proceedings in any court by facsimile transmission, personal service, delivery by mail or in any other manner permitted by Ontario law or the law of the place of service, at the last address of the bidder or seller known to The Fine Art Experience.
Catalogue Descriptions and Condition
Lots are sold subject to the Authorship Warranty, as described in the catalogue (unless such description is changed or supplemented, as provided in Paragraph 1 above) and in the condition that they are in at the time of the sale on the following basis:
(a) The knowledge of The Fine Art Experience in relation to each lot is partially dependent on information provided to us by the seller, and The Fine Art Experience is not able to and does not carry out exhaustive due diligence on each lot. Prospective buyers acknowledge this fact and accept responsibility for carrying out inspections and investigations to satisfy themselves as to the lots in which they may be interested. Notwithstanding the foregoing, we shall exercise such reasonable care when making express statements in catalogue descriptions or condition reports as is consistent with our role as auctioneer of lots in this sale and in light of (i) the information provided to us by the seller; (ii) scholarship and technical knowledge and (iii) the generally accepted opinions of relevant experts, in each case at the time any such express statement is made.
(b) Each lot offered for sale at The Fine Art Experience is available for inspection by prospective buyers prior to the auction. The Fine Art Experience accepts bids on lots on the basis that bidders (and independent experts on their behalf, to the extent appropriate given the nature and value of the lot and the bidder's own expertise) have fully inspected the lot prior to bidding and have satisfied themselves as to both the condition of the lot and the accuracy of its description.
(c) Prospective buyers acknowledge that many lots are of an age and type which means that they are not in perfect condition. As a courtesy to clients, The Fine Art Experience may prepare and provide condition reports to assist prospective buyers when they are inspecting lots. Catalogue descriptions and condition reports may make reference to particular imperfections of a lot, but bidders should note that lots may have other faults not expressly referred to in the catalogue or condition report. All dimensions are approximate. Illustrations are for identification purposes only and cannot be used as precise indications of size or to convey full information as to the actual condition of lots.
(d) Information provided to prospective buyers in respect of any lot, including any pre-sale estimate, whether written or oral, and information in any catalogue, condition or other report, commentary or valuation, is not a representation of fact but rather a statement of opinion held by The Fine Art Experience. Any pre-sale estimate may not be relied on as a prediction of the selling price or value of the lot and may be revised from time to time by The Fine Art Experience in our absolute discretion. Neither The Fine Art Experience nor any of our affiliated companies shall be liable for any difference between the pre-sale estimates for any lot and the actual price achieved at auction or upon resale.
Purchase and Payment
(a) The buyer agrees to pay us, in addition to the hammer price of the lot, the buyer's premium and any applicable sales tax (the "Purchase Price"). The buyer's premium is 25% of the hammer price up to and including $100,000, 20% of the portion of the hammer price above $100,000 up to and including $2,000,000 and 12% of the portion of the hammer price above $2,000,000. The Fine Art Experience reserves the right to pay from our compensation an introductory commission to one or more third parties for assisting in the sale of property offered and sold at auction.
(b) Sales tax, use tax and excise and other taxes are payable in accordance with applicable law. All prices, fees, charges and expenses set out in these Conditions of Sale are quoted exclusive of applicable taxes. The Fine Art Experience will only accept valid resale certificates from US dealers as proof of exemption from sales tax. All foreign buyers should contact the Client Accounting Department about tax matters.
(c) Unless otherwise agreed, a buyer is required to pay for a purchased lot immediately following the auction regardless of any intention to obtain an export or import license or other permit for such lot. Payments must be made by the invoiced party in US dollars either by cash, check drawn on a US bank or wire transfer, as follows:
(i) The Fine Art Experience will accept payment in cash provided that the total amount paid in cash or cash equivalents does not exceed US$10,000. Buyers paying in cash should do so in person at our gallery location 18696 the Gore Rd. Caledon, ON. Canada (ii) Personal checks and banker's drafts are accepted if drawn on a US bank and the buyer provides to us acceptable government issued identification. Checks and banker's drafts should be made payable to " The Fine Art Experience." If payment is sent by mail, please send the check or banker's draft to the attention of the Client Accounting Department at , 29 Glenhuron Dr. Barrie, ON. Canada L4M6T4 and make sure that the sale and lot number is written on the check. Checks or banker's drafts drawn by third parties will not be accepted.
(iii) Payment by wire transfer may be sent directly to The Fine Art Experience. Bank transfer details:
TD Canada Trust
33 Collier St. Suite 100 Barrie, ON L4M 1G5
Transit: 20722
Institution: 004
For the account of Experience Network Inc.
Account no.: 2072 - 7308089
Please reference the relevant sale and lot number.
(d) As a courtesy to clients, The Fine Art Experience will accept Visa and MasterCard to pay for invoices of $100,000 or less. A processing fee will apply.
(e) Title in a purchased lot will not pass until The Fine Art Experience has received the Purchase Price for that lot in cleared funds. The Fine Art Experience is not obliged to release a lot to the buyer until title in the lot has passed and appropriate identification has been provided, and any earlier release does not affect the passing of title or the buyer's unconditional obligation to pay the Purchase Price.
Remedies for Non Payment:
(a) Without prejudice to any rights the seller may have, if the buyer without prior agreement fails to make payment of the Purchase Price for a lot in cleared funds within seven days of the auction, The Fine Art Experience may in our sole discretion exercise one or more of the following remedies: (i) store the lot at The Fine Art Experience's premises or elsewhere at the buyer's sole risk and expense at the same rates as set forth in Paragraph 8 (a) above; (ii) cancel the sale of the lot, retaining any partial payment of the Purchase Price as liquidated damages; (iii) reject future bids from the buyer or render such bids subject to payment of a deposit; (iv) charge interest at 12% per annum from the date payment became due until the date the Purchase Price is received in cleared funds; (v) subject to notification of the buyer, exercise a lien over any of the buyer's property which is in the possession of The Fine Art Experience and instruct our affiliated companies to exercise a lien over any of the buyer's property which is in their possession and, in each case, no earlier than 30 days from the date of such notice, arrange the sale of such property and apply the proceeds to the amount owed to The Fine Art Experience or any of our affiliated companies after the deduction from sale proceeds of our standard vendor's commission and all sale-related expenses; (vi) resell the lot by auction or private sale, with estimates and a reserve set at The Fine Art Experience reasonable discretion, it being understood that in the event such resale is for less than the original hammer price and buyer's premium for that lot, the buyer will remain liable for the shortfall together with all costs incurred in such resale; (vii) commence legal proceedings to recover the hammer price and buyer's premium for that lot, together with interest and the costs of such proceedings; (viii) set off the outstanding amount remaining unpaid by the buyer against any amounts which we or any of our affiliated companies may owe the buyer in any other transactions; (ix) release the name and address of the buyer to the seller to enable the seller to commence legal proceedings to recover the amounts due and legal costs or (x) take such other action as we deem necessary or appropriate.
(b) As security to us for full payment by the buyer of all outstanding amounts due to The Fine Art Experience and our affiliated companies, The Fine Art Experience retains, and the buyer grants to us, a security interest in each lot purchased at auction by the buyer and in any other property or money of the buyer in, or coming into, our possession or the possession of one of our affiliated companies. We may apply such money or deal with such property as the Uniform Commercial Code or other applicable law permits a secured creditor to do. In the event that we exercise a lien over property in our possession because the buyer is in default to one of our affiliated companies, we will so notify the buyer. Our security interest in any individual lot will terminate upon actual delivery of the lot to the buyer or the buyer's agent.
(c) In the event the buyer is in default of payment to any of our affiliated companies, the buyer also irrevocably authorizes The Fine Art Experience to pledge the buyer's property in our possession by actual or constructive delivery to our affiliated company as security for the payment of any outstanding amount due. The Fine Art Experience will notify the buyer if the buyer's property has been delivered to an affiliated company by way of pledge.
Recession by The Fine Art Experience:
The Fine Art Experience shall have the right, but not the obligation, to rescind a sale without notice to the buyer if we reasonably believe that there is a material breach of the seller's representations and warranties or the Authorship Warranty or an adverse claim is made by a third party. Upon notice of The Fine Art Experience's election to rescind the sale, the buyer will promptly return the lot to The Fine Art Experience, and we will then refund the Purchase Price paid to us. As described more fully in Paragraph 13 below, the refund shall constitute the sole remedy and recourse of the buyer against The Fine Art Experience and the seller with respect to such rescinded sale.
Collection of Property
(a) The Fine Art Experience will not release a lot to the buyer until we have received payment of its Purchase Price in full in cleared funds, the buyer has paid all outstanding amounts due to The Fine Art Experience or any of our affiliated companies, including any charges payable pursuant to Paragraph 8 (a) below, and the buyer has satisfied such other terms as we in our sole discretion shall require, including completing any anti-money laundering or anti-terrorism financing checks. As soon as a buyer has satisfied all of the foregoing conditions, he or she should contact our Shipping Department at +1 289-464-6662 to arrange for collection of purchased property.
(b) The buyer must arrange for collection of a purchased lot within thirty days of the date of the auction. Promptly after the auction, we will transfer all lots to our warehouse located at18696 The Gore Rd, Caledon,ON. Canada L7K 2M7. All purchased lots should be collected at this location during our regular weekday business hours. As a courtesy to clients, The Fine Art Experience will upon request transfer on a bi-weekly basis purchased lots suitable for hand carry back to our Gallery location at the premise listed for collection within 30 days following the date of the auction. Purchased lots are at the buyer's risk, including the responsibility for insurance, from the earlier to occur of (i) the date of collection or (ii) seven days after the auction. Until risk passes, The Fine Art Experience will compensate the buyer for any loss or damage to a purchased lot up to a maximum of the Purchase Price paid, subject to our usual exclusions for loss or damage to property.
(c) As a courtesy to clients, The Fine Art Experience will, without charge, wrap purchased lots for hand carry only. We will, at the buyer's expense, either provide packing, handling, insurance and shipping services or coordinate with shipping agents instructed by the buyer in order to facilitate such services for property bought at The Fine Art Experience. Any such instruction, whether or not made at our recommendation, is entirely at the buyer's risk and responsibility, and we will not be liable for acts or omissions of third party packers or shippers. Third party shippers should contact us by telephone at +1 289-464-6662 or by fax at +1 705-797-4940 at least 24 hours in advance of collection in order to schedule pickup.
(d) The Fine Art Experience will require presentation of government issued identification prior to release of a lot to the buyer or the buyer's authorized representative.
Failure to Collect Purchases:
(a) If the buyer pays the Purchase Price but fails to collect a purchased lot within 30 days of the auction, the buyer will incur a late collection fee of $10 per day for each uncollected lot. Additional charges may apply to oversized lots. We will not release purchased lots to the buyer until all such charges have been paid in full.
(b) If a purchased lot is paid for but not collected within six months of the auction, the buyer authorizes The Fine Art Experience, upon notice, to arrange a resale of the item by auction or private sale, with estimates and a reserve set at The Fine Art Experience 's reasonable discretion. The proceeds of such sale will be applied to pay for storage charges and any other outstanding costs and expenses owed by the buyer to The Fine Art Experience or our affiliated companies and the remainder will be forfeited unless collected by the buyer within two years of the original auction.
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