Terms & Conditions
By submitting your bid, you agree that:
You have read and agree with the Auctioneer Terms and Conditions below and the Invaluable Terms of Use Agreement
You agree to pay a buyer's premium of 5% and any applicable taxes and shipping.
1.Terms and Conditions & Privacy Policy
Important Notices & Cataloguing Protocols
Interpretations and Definitions: the following terms generally apply within these Terms and Conditions; other terms are defined
within specific sections following:
Agent - a person or body acting on behalf of another.
Auction - a sale event whether taking place live in real-time or of extended duration (Timed Auction).
Bid - a sum offered by a Bidder to purchase the Lot.
Bidder - the person offering a Bid.
Buyer - the person who the Lot is knocked down to.
Buyer's Premium - the percentage of the Hammer Price payable in addition by the Buyer.
Date of Sale - the date on which the Times sale finishes.
Group - any Lot comprising more than one item.
Hammer Price - the amount of the winning bid when knocked down by the auctioneer to a Bidder.
Knock(ed/ing) Down - the act of the Auctioneer in bringing the Hammer down to complete the contract for the sale of the Lot to the Buyer
submitting the highest bid.
Lot - the goods for sale.
Net Proceeds - the Hammer Price less the Selling Commission and any charges or expenses levied at TimeLine's discretion.
Purchase Price - the total sum due for any Lot, including the Hammer Price, the Buyer's Premium, any internet bidding fees,
any shipping charges, taxes, duties or any other costs payable to TimeLine.
Reserve Price - the minimum Hammer Price at which a Lot may be knocked down.
Seller - the person offering the Lot for sale.
Title - legal rights of ownership of the Lot.
2.Application: the singular includes the plural and vice versa and any reference to 'he', 'she' or 'it' applies to all of them.
3.Condition: items are briefly described with respect to condition using various phrases to signify the overall and general condition.
It should be noted that items having significant age, sometimes being very ancient, often show minor blemishes and defects and these are
considered to be normal and would not be individually described. Phrases used include:
Restored - may be repaired or otherwise reinstated; possibly with some areas replaced;
Fair Condition - may be fragmentary or obviously damaged;
Fine Condition - usually essentially complete but may have minor damage or show restoration or repair;
Very Fine Condition - usually complete and in good condition; may have some minor damage, restoration or repair; and
Excellent Condition - complete and better than average condition, without significant repair or restoration.
Attributions: works of art attributions may be given in several forms, as examples below:
Signed - a work bearing the signature of the named artist;
Attributed to - a work of the period of the artist which may be in whole or in part the work of the artist named;
Circle of - a work of the period of the artist and showing his influence;
Follower of - a contemporary or nearly so work executed in the style of the artist;
Manner of - a work executed in the style of the artist but of a later date; and
After - a copy of any date of a work of the artist.
4.Copyright: all cataloguing text, images and other material published by Wealth-of-Art whether physically or electronically is the
property of Wealth-of-Art and may not be reproduced, stored in any retrieval system or otherwise transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written consent of Wealth-of-Art.
5. The basis of Contract: these terms and conditions apply to the exclusion of any other terms that the Seller or Buyer seeks to impose or
incorporate, or which are implied by trade, custom, practice or course of dealing.
(a) In consideration for Wealth-of-Art 's accepting a Buyer's bid at the Auction, the Buyer agrees to be bound by these terms and conditions.
Buying at Wealth-of-Art Timed Auctions
6. General Conduct of Auction: Wealth-of-Art shall have absolute discretion as to lots offered for sale, lots withdrawn and the conduct of
any Auction. Wealth-of-Art shall have absolute discretion to refuse entry, decline bids.
7. Lot Descriptions: All Lots are offered 'as seen'. The Buyer is obligated to make all and any enquiries s/he wishes as to the accuracy and authenticity of any
sale description and the principle of caveat emptor applies. Please consult return policy below 21.
8. Condition Reports: Not all Lots might be available for physical inspection. Wealth-of-Art will provide a report on the physical condition of any Lot on
request. Bidders/Buyers should note that reports are provided as a service to interested clients. Descriptions therein are not warranties and all Lots are offered 'as seen'.
9. Estimates: Estimates are for general guidance only and Lots may sell outside their range. Buyers must make their own assessment as to the
value of any Lot and conduct their bidding accordingly.
10. Reserves: Lots are subject to a Reserve set by the Seller, at a level not exceeding the low estimate, below which Reserve bids cannot
be accepted
11. Buyer's Premium: The general Buyer's Premium is 5% (VAT inclusive) for Bidders using the internet bidding service.
12. Registration and Bidding: All prospective bidders must register their personal details with Wealth-of-Art before bidding and a
Online Paddle number will be allocated for their exclusive use; prospective Bidders may be asked to provide proof of identity and address.
Wealth-of-Art reserves its right to refuse any Bidder or any Bid at its discretion.
13. Internet Bidding: Wealth-of-Art is not responsible for any technical failure or otherwise which results in bids not being received.
14. Value Added Tax: VAT is charged and invoiced on an inclusive basis, under the Auctioneer's Margin Scheme on all Buyers' Premiums
15. Payment: The Purchase Price becomes due and payable when Timed Auction is over:
(a) The full Purchase Price must be paid in Pounds Sterling and can be made by bank transfer, bank debit card or credit card
(subject to a transaction fee of 3% of the invoice total amount).
(b) Unless agreed by Wealth-of-Art in writing in advance, the Buyer must pay the full purchase price to Wealth-of-Art by no later than 3
working days after the Date of Sale.
16. Title, Risk and Insurance: Title to any Lot is retained by the Seller until the Purchase Price and all other sums payable by the Buyer to
Wealth-of-Art has been paid in full in cleared funds to Wealth-of-Art; at this point, Title will transfer from the Seller to the Buyer.
The risk for the Lot passes to the Buyer at the time the Lot is sold to the Bidder. Wealth-of-Art does not hold property insured after the Lot has
been sold.
17. Collection of Lots, Storage, Shipping: Once the Buyer has paid the Purchase Price in full, Wealth-of-Art will release the Lot to the
Buyer for collection / shipment. The Buyer must collect, or arrange the collection/ shipping of, all purchases from the location advised by
Wealth-of-Art by 5.30pm on the seventh working day following the Date of Sale. Lots not collected/ arranged shipped by the seventh working day following the Date of Sale will be moved to storage at a transfer cost of £10 per lot per day until collected/ shipped; no lots may be removed until any storage costs have
been paid in full.
18. Delivery: Someone must be present at the time of delivery. Please note that once your order is on its way, we are unable to change the shipping address. Please note that we aim to dispatch your Item(s) within 5 to 10 business days, however, any dates quoted for delivery of the Item(s) are indicative only. Time for delivery will not be an
essential term of the Contract and Wealth-Of-Art will not be liable for any expenses sustained by the Buyer arising from any delay in the delivery of the Item(s) howsoever caused. If the Buyer wrongfully fails to take delivery of the Item(s), Wealth-Of-Art shall be under no obligation to refund the price.
The Buyer must inspect the Item(s) on delivery and sign the required proof of delivery document or collection acceptance document. A signature on that document will constitute conclusive evidence against the Buyer of receipt of the quantity of Item(s) indicated on that document free from any apparent defect or damage. If the
Item(s) is alleged to be damaged or defective on delivery, a description of the alleged damage or defect must be given in writing at the time of delivery and signed by or on behalf of the Buyer.
19. If you received a damaged Item(s): Despite all our care to pack the Item(s) carefully, damage could happen during transit. If you receive a damaged Item(s) you must report to our team within 24 hours of delivery. Please send close-up (magnified) photographs of the damage to enquiries (at)wealth-of-art.com.
20. Colour: You understand and agree that Wealth-Of-Art uses reasonable efforts to display the colours of Item(s) as accurately as possible on the Invaluable site. However, because individual computer monitors may display colours differently, Wealth-Of-Art is not responsible for the colour accuracy of any Item(s) displayed on the Invaluable site and
disclaims all liability in this regard.
Item(s) Surface: Some Item(s) are showing fragments sticking out or some "imperfections" on the surface due to their nature. Please read carefully the
Item(s) description. If you have any doubts before the purchase, please get in touch with us.
21. Returns: Wealth-Of-Art allows the Buyer fourteen (14) days return policy which starts from the time the Buyer receives the Item(s). If the Buyer wishes to return the Item(s), s/he must notify Wealth-of-Art within 24 hours of receiving the Item(s) otherwise, Wealth-of-Art assumes that you are keeping the Item(s) and you will NOT be eligible for a refund. You have to ship back the Item(s) within (7) days after notifying Wealth-of-Art that you will return Item(s) and provide Wealth-of-Art with tracking number otherwise you will NOT be eligible for a refund. The Item(s) need to be in its original condition, not damaged.
Wealth-Of-Art will NOT be held liable for any damage to any Item(s) caused anytime after the delivery to the Buyer's address. Item(s) should be returned without damage, marks, or scratches. Wealth-Of-Art will not be able to accept any returns of Item(s) that have been damaged after delivery to the Buyer's address. Please note that Wealth-Of-Art will not take responsibility for the return shipping costs. In order to arrange the return, please call us on +44 (0) 330 22 33 007 between 9:00 AM - 6:00 PM (GMT time) Monday - Saturday or email us at any point o enquiries (at) wealth-of-art.com.
Important information about returning.
Wealth-Of-Art is not responsible for undelivered returns. Additional shipping fees may apply for international returns. Please note that these fees may possibly be avoided if you inform the courier that the item is a return--though we can't guarantee this as couriers terms vary.
22. Remedies for Buyer's Failure to Make Payment and/or Remove Lots: If the Purchase Price and/or all sums payable are not paid in full
when they fall due and/or the Lot is not removed in accordance with these terms, Wealth-of-Art will without further notice to the
Buyer is entitled to exercise one or more of the following rights:
(a) To terminate the agreement immediately for breach of contract;
(b) To retain possession of the Lot;
(c) To remove and/or store the Lot at the Buyer's expense;
(d) To take legal proceedings against the Buyer for payment of any sums due to Wealth-of-Art by the Buyer;
(e) To refuse to allow the Buyer to register for a future Auction or to reject a bid from the Buyer at a future Auction.
23. Buyer's Indemnity: The Buyer agrees to indemnify Wealth-of-Art on a full indemnity basis against all legal and other costs, all losses and expenses
incurred as a result of Wealth-of-Art taking steps under the previous paragraph.
24. Severance: If any provision or part-provision of these terms and conditions is or becomes invalid, illegal or unenforceable, it shall be
deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible,
the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not
affect the validity and enforceability of the rest of the terms and conditions.
25. Governing Law: These terms and conditions and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by, and construed in accordance with, the law of England and Wales.
26. Jurisdiction: Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with these terms and conditions or its subject matter or formation (including non-contractual disputes or claims).
27. Disputes: In the event that the Buyer has any dispute in relation to any Lot which has been sold, that dispute must be notified to Wealth-of-Art in writing within 14 days following the Collection / Shipping in order that Wealth-of-Art can hold the proceeds pending resolution of the
dispute. In the event of deliberate forgery being claimed for any Lot, the Buyer shall submit two opinions in writing from recognised experts for consideration; the inability of different experts to agree shall not be sufficient grounds and Wealth-of-Art may investigate or consult with others at their discretion; no liability is accepted by Wealth-of-Art for any costs of the buyer, including but not limited to fees, shipping, loss of profit, consequential costs or any other matters beyond the hammer price and buyer's premium. In all cases, any item must be returned to Wealth-of-Art, strictly in the condition it was in at the date of the sale being held; buyers are advised that any form of destructive examination or testing was undertaken will result in claims being rejected; claims resulting from results of tests under a scientific process not generally accepted for use at the date of the Sale or which were unreasonably expensive in relation to the estimates for the lot or impractical or likely to have caused damage to the Lot at the date of the Sale will not be allowed.
Wealth-of-Art will have no liability to the Buyer and Seller after a period of 14 days as then Wealth-of-Art will release monies and make payments to Sellers in accordance with these terms and conditions.
SHIPPING INFORMATION
Our shipping rates are based on courier fees. Please contact us for a shipping quote. In addition to shipping charges, the Buyer will also be responsible for paying international customs fees, determined by the country the Item(s) is being shipped to. We work closely with our shipping partners to minimise the potential impact of custom delays on our international customers, however, certain destinations such as Russia and China can be challenging. The shipping cost and handling cost may vary due to the type and size of the Item(s). Please contact us if any doubts prior bidding.
In order to deliver your Item(s) safely the first time, please state your delivery instructions as specifically and as detailed as possible. Provide a secure shipping address where the Item(s) will be safely protected from bad weather. We insure each Item(s) during the time it is in transit until it is delivered to the Buyer. We require a signature for any parcel delivered, at which point responsibility for your purchased Item(s) passes to the Buyer. If the Buyer has specified a recipient who is not the Buyer himself / herself for delivery purposes then Buyer accept that evidence of a signature by them (or at that delivery address) is evidence of delivery and fulfilment by Wealth-Of-Art and transfer of responsibility in the same way.
