Auction Rules of AUCTION HOUSE SÝPKA
Auction Rules of AUCTION HOUSE SÝPKA Limited Liability Company (ltd)
with its registered office at Údolní 70, 602 00 Brno, ID 277 52 682
I. Introductory provisions
1. This Auction Code is issued for the purpose of organizing the sale of works of art by AUTION HOUSE SÝPKA ltd by auction.
2. The auctions organized according to these Auction Rules are organized according to international customs in the field of art trade and in accordance with the legal regulations of the Czech Republic.
3. The auctions are non-public and are accessible only to the clients of the auction house and other persons with the approval of the auction house.
4. Auction Hall means AUCTION HOUSE SÝPKA ltd with its registered office, Údolní 70, 602 00 Brno, ID 277 52 682.
5. The auction house shall announce the organizing auction at its discretion in a manner customary, for example, in the auction catalogue, in the media, etc.
6. This auction order is for all persons participating in the auction and mandatory and participation in the auction, people agree to follow it.
II. Glossary of terms
For the purposes of these Auction Rules, the following terms are understood as follows:
a. Auction - a form of sale of an artistic object, where the thing is sold for the highest offered price to a predetermined number of candidates. Ownership goes to the buyer by auctioning and paying the price.
b. Auctioneer - is a person designated by the auction house to manage and execute the auction, makes all the related tasks on behalf of the auction house, in particular initiates and manages the auction, organizes the bidding of bidders and grants the so-called hammering, i.e. termination of bidding and confirmation highest bid submitted.
c. Applicant for the Auction - a legal or natural person who concludes a written contract with the Auction House about the sale of a particular item by auction, it may also be an auction house.
d. Auction Participant - legal or natural person authorized to participate in the auction. Only the auction house client may be a participant in the auction, not the owner of the item, or a person acting in favour of the purchase for the owner. The auction participant may only be a person fully legally competent, older than 18 years, adhering to the Auction Rules, Rules and Usages of Decent and Appropriate Behaviour at the Auction and a person who did not defeat the previous auctions of the Auction House, respectively. the company AUCTION HOUSE SÝPKA ltd. It is not permissible to bid for the persons listed above. Auction participants prove their identity by valid identity cards (such as personal / identity card, passport) and if they are acting on behalf, they pass the auction house a power of attorney authorizing the auction at another auction house client. The condition of participation in the auction may also be the composition of the auction security if it was requested by the auction house. The auction participant will receive from the auction house a numerical designation under which he/she will participate in the auction. Upon agreement with the auction house, the client may attend the auction by telephone or by setting of a fixed limit, provided that the granting of the power of attorney for the auction is provided. In this auction method, the auction house must proceed as far as possible to the auction participant.
e. Auction principal - not required.
f. Auction catalogue - a list of items that will be offered to the auction house's clients for sale in a particular auction. The catalogue is published on the website of the auction house www.sypka.cz. Unless stated otherwise in the Auction Catalogue, the condition of things is assumed to be proportional to age and normal wear and tear, so items may be restored, damaged or non-functional. The auction house Sýpka is not responsible for the functionality of the items, nor for the damage caused by the faulty operation of the auction item.
g. Bidder - participant of the auction, who offered the highest price of the auction, which was confirmed publicly by the auction auctioneer by so-called hammering. After paying the price he/she becomes the owner of the item.
h. Clients of the auction house - those interested in buying works of art through auctions organized by the auction house, which registers the auction house. There is no legal entitlement to registration and it is entirely within the discretion of the auction house, which may refuse the registration application without giving any reason. The clients of the auction house may be legal or natural persons (over 18 years of age) who prove their identity in a lawful manner (for example, an extract from the Commercial Register, an identity card, a passport). If the auction house client violates this auction code, the auction house may cancel his/her registration, which he/she will be demonstrably notified of by the auction house.
III. Auction organization
1. Items included in the auction will be displayed at pre-auction exhibitions. Those interested in viewing the displayed items are obliged to respect the measures of the auction house to ensure the protection of the displayed items. There is no charge for viewing items for sale at auction.
2. Only the clients of the auction house, the staff of the auction house, and other persons with the consent of the auction house have access to the auction, otherwise the auction is not public. During the auction and the display of the items offered for sale at auction, it is not possible to take photographs, films or any other records without the approval of the auction house.
3. Auction participants are obliged to follow the instructions of the organizers and not to disrupt the course of the auction in any way.
4. The Auction is initiated by a representative of the Auction House, who may announce changes to the catalogue, changes and refinements of the Auction Rules, and to notify the resulting auction organization guidelines.
5. The auction of individual items is carried out by the auctioneer. The object of auction (sale) must always be marked unmistakably, usually at least by reference to the catalogue. The auctioneer will announce the lowest bid, which is the price (amount) for which the item can be purchased if the reserve price has not been set, ie the minimum price of the owner of the item. If the reserve price has been set, and the bids made in the hall have not reached its amount, the auctioneer declares the item unsold. If none of the clients of the auction house show interest in the purchase, the auctioneer terminates the auction by saying "not sold or the item remains". The item may be placed on the auction repeatedly as decided by the auction house.
6. Anyone interested in purchasing an item makes the bidder's bid to the auctioneer after having announced the amount (invocation) by raising the auction number, or by raising the number at the same time as the bid price, which must always be higher than the last amount raised by the auctioneer.
7. The bids, i.e. the smallest possible amount by which the increased price offered by the auctioneer shall be:
• CZK 500 if the immediate auction price is less than CZK 10,000
• CZK 1,000 if the immediate auction price is at least CZK 10,000 but less than CZK 20,000
• CZK 2,000 if the immediate auction price is at least CZK 20,000 but less than CZK 50,000
• CZK 5,000 if the immediate auction price is at least CZK 50,000, but less than CZK 100,000
• CZK 10,000 if the immediate auction price is at least CZK 100,000, but less than CZK 500,000
• CZK 50,000 if the immediate auction price is CZK 500,000 or more
• CZK 100,000 if the immediate auction price is CZK 5,000,000 or more.
8. The order of bids shall be decided by the person responsible for the auction.
9. If several auction participants make an equally high bid, and at the same time no higher bid is made, the auctioneer will decide who will be awarded the bid. Any objections to the course of the auction must be applied immediately, directly in the auction room, otherwise they will not be taken into account. These objections are finally resolved by the auctioneer.
10. The Auction House also warns the bidders that it is not liable for any damage, loss of profit or any other claim that may arise from failing to register or accept a written limit or other bid by the bidder.
11. If no auction participant makes a higher bid, the auctioneer repeats the amount of the last bid offered along with the words… for the first time,… for the second time,… for the third time…, and terminates the auction with the hammer hit, with the last bidder having the right to this amount to buy the item (the auction fee is added to the amount). Submitted bids in the auction (bids) are bound by the participants, which mean an irrevocable bid for the amount to buy. The auction price cannot be lowered.
12. Any objections, protests or comments regarding the course of the auction are finally resolved by the auction house in the spirit of the principles of fair trade and international auction customs. Objections, protests, comments or warnings must be filed in the auction room visibly and loudly, otherwise they will not be taken into account.
13. The Bidder may auction any item without a personal presence at the auction:
- if a written power of attorney is issued to AUCTION HOUSE SÝPKA, ltd, to be represented at the auction.
- if he/she determines the things the Auction House is supposed to auction for them
- if he/she sets a limit to which the Auction House Sýpka has to bid for it, and for each thing separately
- bidding by phone can be made by written agreement
- via www.LiveBid.cz
- via www.invaluable.com
IV. The method of payment
1. Items auctioned must be paid within ten days of the end of the auction, unless otherwise agreed with the Auction House. In the case of bank transfer payments, payments are made to ?SOB plc, account number: 217743171/0300.
The auction fee is charged to the auctioned (so-called hammer price) price to the bidder:
up to CZK 1,000,000 20%
over 1 000 000 CZK 18%
V. Others
1. The bidder is obliged to take over the paid item obtained by auction no later than ten working days after the auction, unless otherwise agreed with the auction house. In the event that the successful bidder fails to take over the auctioned item within the stipulated time limit, the auction house Sýpka is not responsible for any damages that may arise during storage of the unused item.
2. The Auction House ensures the transport of items obtained by auction only after agreement with the bidder. The Auction House provides only the packing of the usual goods for delivery, not the special packaging, for example for transport.
3. All costs associated with the transport of the subject of the auction shall be borne by the successful bidder. The risk of damage to the auction object passes to the bidder at the moment of handing over the auction item to the selected external carrier, who arranges the transport of the item to the place designated by the bidder.
4. The auction catalogue contains only a visual description of the auction items and other information is given to the best knowledge and conscience of the auction house with the aim to inform objectively the bidders. The auction house Sýpka does not guarantee the correctness and completeness of this data. The Auction Hall is not responsible for any printing errors and colour deviations in the catalogue. Anyone interested in buying (auction participant) has the opportunity to view the offered auction items within the deadlines specified in the auction catalogue. Therefore, if the auction participant decides to participate, this manifestation of will is considered to be a confirmation of the fact that before the auction itself, the individual items were properly familiarized with the participant of the auction and thus knows their condition. Claims relating to the price, quality, condition and functionality of the auction items as well as any other obvious defects are excluded after the hammering.
5. Upon payment, the Auction House shall issue to the Bidder a tax document on payment and upon request a written confirmation of the acquisition of the item from the auction.
6. Subjects subject to the Act No. 20/1987 Coll., On State Preservation of Monuments, as amended and in the wording of implementing regulations and Act No. 71/1994 Coll. on the sale and export of items of cultural value, as amended, must be marked in all auction documents, especially in the catalogue, they must be notified when the item is raised and in the receipt of the item for the successful bidder.
7. If the original owner (claimant) of an auction subject conceals to the Auction house a defect of the auction object (or any object which provided the Auction House for the purpose of mediation of the sale) or does not know about the defect of this auction item (or any other item that he has provided to the auction house for the purpose of mediation of the sale), which is discovered after the auction, the claimant bears full responsibility.
8. If any of the seller's statements in the signed contract with the Auction House are incorrect or incomplete, this is a material breach of the Contract and the Seller is responsible to the Auction House Sýpka for any damage that it or the Buyer incurs as well as all associated costs.
9. All legal acts under this Auction Regulations are governed by the laws of the Czech Republic
