Buyer's Conditions
1) The word "auctioneer" wherever used in these conditions of sale,
means Ritchies Auctioneers
2) While the auctioneer has endeavoured to catalogue and describe correctly each lot to be sold, guarantee is not made of the
correctness of the catalogue or other descriptions of the physical
condition, merchantability, size, medium, importance authenticity,
attribution, provenance, exhibitors, literature, historical relevance of
any lot and no statement anywhere shall be deemed such a warranty, representation or condition, and no sale will be set aside on
account of any imperfections not noted. Each lot is sold "as is",
"where is" and without recourse. Further, all catalogue descriptions
are subject to any variation announced by the auctioneer in the
auction room prior to the time of sale. No representation is made in
respect to any copyrights available to any purchaser. All prospective purchasers shall have an opportunity to inspect all lots prior to
the time of the auction and it is recommended that they do so.
3) The auctioneer has the right to refuse any bid and to advance
the bidding and set bidding increments, at his absolute discretion.
The highest bidder accepted by the auctioneer shall be the buyer.
If any dispute should arise between bidders, or in the event of any
doubt on the part of the auctioneer as to the validity of any bid, the
auctioneer may, at his discretion, determine the successful bidder,
or he may reoffer the lot. Note that Ritchies acts solely as agent for
the consignor and makes no representation as to any attribute of,
title to, or restriction affecting the property consigned for sale.
4) If the auctioneer decides that any opening bid is too low, he
may reject the same. The auctioneer reserves the right to withdraw
any lot from the sale or to divide any lot, or to combine any two or
more lots at his sole discretion.
5) The purchaser will be the highest bidder for the lot accepted by
the auctioneer and such purchaser shall assume full risk and responsibility for such lot thereafter, and will thereupon pay the full
purchase price therefore, or such part as may be required by
Ritchies. The purchaser shall at the time of such purchase make
available to Ritchies, the name, address and telephone number of
the purchaser and make payment as aforesaid. Also, if the required
payment is not complied with, Ritchies may assert a lien and ?rst
security interest on any works consigned by the purchaser and any
funds owing by Ritchies to the purchaser and in addition to all
other remedies may in its sole discretion resell any of the lots affected without notice to the original purchaser and in such case
and the original purchaser shall be responsible to Ritchies and the
consignor for: (a) any de?ciency in price between the resale
amount and the amount that should have been paid by the original
buyer, (b) reasonable charges for storage, (c) any excess commission which would have been earned by Ritchies had the original
sale been completed in full, and (d) such additional fees and
charges as may be reasonably incurred by Ritchies.
6) Each lot sold is subject to a purchaser?s premium of 20% of the
purchase price, payable by all successful buyers, charged on the
1st $50,000.00 of each lot purchased and 15% on the excess and
shall form a lien and first security interest on any such purchased
works.
7) Each and every lot is sold by the vendor with all faults and defects and with all errors of description and is to be taken and paid
for whether genuine and authentic or not and no compensation
shall be paid for same.
8) Notwithstanding the previous conditions of sale in paragraph 7
hereof, if within twenty one (21) days after the sale of the lot the
purchaser gives notice in writing to Ritchies Inc. that the lot sold is
a forgery and within seven days after such notication the buyer
returns the same to Ritchies Inc. in the same condition as at the
time of sale, Ritchies Inc. shall have the right to have the purchaser
obtain, at the purchasers expense, the written opinion of two recognized experts in the ?eld, mutually acceptable to Ritchies and
the purchaser, before Ritchies determines whether to rescind the
sale. The purchaser's sole and only remedy against Ritchies and the
consignor shall be for a cancellation of the sale and the refund of
the original purchase price paid for the particular lot and neither
Ritchies nor the consignor shall be liable in whole or in part for any
other, special, incidental or consequential damages, including without limitation loss of pro?ts.
9) PAYMENT shall be made by CASH, CERTIFIED CHEQUE, VISA,
MASTERCARD, INTERAC or WIRE TRANSFER and all property
shall be removed by the purchaser at purchaser's expense not later
that one business day following the sale. If it is not so removed and
paid for, and if the account is not settled in full, a handling charge
of the greater of 5% of the purchase price or 2% of the purchase
price per month (24% per year) until settled and removed, will be
payable by the purchaser. In the event that the property is not removed within thirty (30) days after the sale, Ritchies shall, in addition, have in its discretion the right to sell the property without
notice to the buyer, similar to and subject to the same terms as
outlined in paragraph 5 and Ritchies may in its sole discretion send
the purchased property to a public warehouse for the account, risk
and expense of the purchaser. All charges are subject to applicable
taxes including HST. The purchaser is solely responsible to arrange
and pay for the removal of the property purchased and any insurance, packing, crating or transport thereof.
10) Each lot offered for sale may be subject to an unpublished reserve in consultation between the consignor and Ritchies. The auctioneer may bid on behalf of the consignor. Ritchies may also
execute telephone bids as a convenience to a purchaser but will
not be held responsible for errors or failures to execute such telephone bid. The purchaser consents to the recording of any telephone conversation as may be required by law and/or Ritchies.
Ritchies also, as a service, may provide absentee order bids for purchasers who cannot attend the auction. Ritchies shall attempt to
execute the absentee bid at the lowest possible price taking into
account the reserve price and other bids. If identical bids are left by
two or more parties, the first bid received by Ritchies will take priority. Ritchies shall not be responsible for errors or failures to execute such bids.
11) Parties attending Ritchies premises before, during or after the
sale, do so at their own risk and shall have no claim against Ritchies
in respect to any personal or property damage which may be sustained however caused. Ritchies reserves the right to refuse admission to any preview or sale or to accept any bids from any
particular person or persons at any auction in Ritchies sole discretion.
12) The law of the Province of Ontario shall apply to these conditions and any purchase arrangement. In the event of any dispute
such dispute shall be settled by way of mediation by a mediator to
be chosen by Ritchies and the purchaser. Failing the ability to
chose such mediator or in the event of the failure of the mediation,
the parties agree that this dispute shall be settled by arbitration,
pursuant to The Arbitrations Act of Ontario. The decision of the arbitrator shall be ?nal and binding and not subject to appeal. The
mediation and/or arbitration shall be held in the City of Toronto, in
the Province of Ontario.
13) Certain property sold at auction may be subject to laws governing export from Canada (such as, the provisions of the cultural
Property Export and Import Act and various endangered species)
and import restrictions of foreign countries. The export of any lot
from Canada, or import into any other country, may be subject to
granting by local authorities of one or more export or import licenses, as the case may be. It is the buyer?s responsibility to obtain
any relevant export or import licenses. Lots purchased shall be paid
for in accordance with all Conditions of Sale and the denial of any
export or import license or any delay in the obtaining of such licenses shall not justify the rescission or cancellation of any sale or
any delay in making payment of the total purchase price for the lot.
Although licenses can be obtained to export some items which are
the subject of these laws, other items may not be exported. Please
check with the specialist department if you are uncertain as to
whether an item is affected by the above laws or other related laws
which restrict exportation.
