Auction rules

 

Introductory provisions

1. For the purposes of these auction rules, the auction house means the company Starozitnosti-Galerie USTAR Ltd., entered in the commercial register kept in the Regional Court in Ostrava in section C, insert number 44474, place of business Denisova 306/21, 779 00 Olomouc, company identification number 28611705, tax identification number CZ28611705 (hereinafter -the auction house-), which organises auctions of works of art and antiques. Auctions organised according to these auction rules are organised in accordance with the legal standards of the Czech Republic and in accordance with international conventions in the area of art trade.

2. The auctions are not public; they are accessible only to the clients of the auction house, and to other persons with the consent of the auction house. The carrying out of the auction is announced, at the auction house's discretion in the usual way, for example on the internet at www.ustar.cz and www.ivaluable.com.

3. These auction rules are binding for all the auction participants, and persons participating in the auction are obliged to abide by them.

 

Auction items

1. Items included in the auction are assigned numbers which correspond to their order in the auction; they are described and reproduced at www.ustar.cz and www.ivaluable.com with the starting price and the estimated price. For auction items, so-called reserve prices (the lowest selling prices) are set. If the so-called reserve price is not reached during the auction of the item, the item remains unsold and it will also be published in the auction results. The reserve price of each auction item is always lower than the lower estimated price of the item.

The prices of items listed in Euros (exchange rate 25 CZK = 1 Euro).

2. All information about the auction items is provided to the best knowledge and awareness of the auction house experts, after consultation with experts in the relevant field, and taking into account information provided by the seller. The auction house explicitly informs auction participants that the auction includes items which have already been used, in a condition that corresponds to their time of origin and their rate of wear. In the case of works of art and antiques, only faults or damage which affects their artistic value is stated. These items may be non-functioning, restored, damaged etc., which is already reflected in the valuation of the auction item.

3. The bidder can physically inspect the offered items before the auction, during the pre-auction exhibition. In case the interested party cannot attend the pre-auction exhibition, they can view the auction items on the internet at www.ustar.cz, where they are photographed and described in detail. For items whose starting price exceeds 400 Euro, the bidders may ask the auction house to send them information about the condition of the auction item, including any additional photos. The auction house is not responsible for any colour variations in the photographed auction items.

4. Complaints regarding functionality, price, quality or the condition of the auction item, after purchase at the auction (after the hammer strike), are ruled out, and the auction house is not obliged to deal with them.

5. The export of all items of cultural value is subject to the rule of law 71/1994 Coll., which is in force regarding the sale and export of items of cultural value, as amended and set out in the implementing regulation. The auction house is not authorised to issue any declaration or guarantee regarding an auction item of cultural value being, or not being, subject to export restrictions.

6. The company Starozitnosti-Galerie USTAR Ltd., expressly declares that it is not responsible for any damage, loss of profit or any other claim which may arise from the export or import of auction items by the bidder, seller or any other party.

7. The Auction House warns bidders that not all auction items listed in the auction catalog must be included in the auction. The auction house has the right to withdraw the item from auction sale, or may sell the item to direct buyer.

 

Auction participants

1. An auction participant may only be a person over 18 years old of full legal capacity, who abides by these auction rules. Auction participants may only be clients of the company Staro-itnosti-Galerie USTAR Ltd. or other persons which have been, with the consent of the auction house, registered as auction participants beforehand.For registration by the bidder, the auction house is authorised to request a valid form of identification or passport or, in the case of legal entities, a current print-out from the commercial register, or other register, in which their details are entered. It must be clear, from this print-out, who can act on behalf of the legal entity.

2. Auctions carried out by the auction house are not public; the circle of participants is limited and there is no legal right to registration at the auction. The auction house may refuse the registration of an auction participant without giving a reason. A person who tried to disrupt an auction in the past, or even thwarted an earlier auction by the auction house, may not be an auction participant.

Auction types

1.      AUCTION WITH A WRITTEN LIMIT – on webside www.ustar.cz

2.      ON-LINE AUCTION – auction on webside www.invaluable.com

 

Auction is according to rules on this servers.

On the basis of a written power of attorney, it is possible to participate in the auction in absentia. The power of attorney form for registration for auction proxy bidding is available on the website www.ustar.cz. The filled-in power of attorney, together with a copy of an identity card or passport, must be delivered to the auction house no later than 24 hours before the start of the auction - electronically, to e-mail address antik@ustar.cz, or physically, to postal address Starozitnosti-Galerie USTAR Ltd., Ryrirska 532/9, 110 00 Praha 1, Czech Republic. Forms received after the deadline will be accepted only if it is possible to do so; no guarantee of this is given. The auction house reserves the right to ask bidders for a bank guarantee, or a deposit of up to one half of the starting price.

 

 

AUCTION WITH A WRITTEN LIMIT

In this type of auction, the bidder must fill out, and deliver to the auction house, a written power of attorney (a registration form for auction proxy bidding) containing a clear indication of the authoriser, the representative, the catalogue number and description of the auction item, the maximum limit (the maximum sum, excluding the auction commission, which the authoriser is willing to pay for the auction item), and the date and signature of the authoriser.

 

ON-LINE AUCTION

Auction arranged on-line through www.invaluable.com

 

The auction house Starozitnosti-Galerie USTAR Ltd., expressly informs the bidder that it is not liable for any non-delivery or omission of registration of the power of attorney for auction proxy bidding, for inability to get through to a telephone number, for continuous and uninterrupted access by the bidder to the on-line auction or the functionality of the system, particularly with regards to the fact that there are a number of external factors which the auction house has no influence over.

The company Starozitnosti-Galerie USTAR Ltd., expressly declares that it is not responsible for any damage, loss of profit or any other claim which may arise that not register or not receive a written limit or another offer bidder.

 

The rules and course of the auction

1. The auction is conducted in EUR. The auctioned items can also be paid in Czech crowns. The exchange rate for this auction is set at 1 Euro = 25 CKZ. The auction on behalf of the auction house is managed by www.ivaluable.com. The auction participant is irrevocably bound by their bid; they are confirming that they have familiarised themselves properly with the auction item and with its description, and that they will purchase the item for the given sum. The auction of the item will take place as long as the auction participants make bids for it.

 

Bids are determined by the auctioneer as follows:

50 Euro, if the immediate auction price is less than 1,000 Euro

100 Euro, if the immediate auction price is less than 3,000 Euro

200 Euro, if the immediate auction price is less than 10,000 Euro

500 Euro, if the immediate auction price is less than 20,000 Euro

1,000 Euro, if the immediate auction price is less than 50,000 Euro

2,000 Euro, if the immediate auction price is less than 100,000 Euro

5,000 Euro, if the immediate auction price is less than 500,000 Euro

10,000 Euro, if the immediate auction price is less than 1,000,000 Euro

20,000 Euro, if the immediate auction price is less than 10,000,000 Euro

50,000 Euro, if the immediate auction price is at least 10,000,000 Euro or more.

Each auction item has the following attributes: starting price, estimated price (Lower and Upper Estimate Price), date and time of the auction.

 

When bidding an item, enter your maximum bid that you are willing to offer for the auction item in the "LEAVE BID" field. This amount must be divisible by a minimum bid. When bidding, your maximum bid is not shown to others. In case you enter a limit during the auction, the auction system will auction you the selected item for you automatically at www.invaluable.com so that if another bidder makes a bid, the system will switch the bid by the specified minimum bid. The auction system will thus auction your chosen item automatically up to your limit. The auction ends at the time specified for each specific auction item. If two identical bids are placed on the same auction item, the system will give priority to the first bid. Therefore, the date and time of submission of the bid is decisive.

The first round of the auction will take place at www.ustar.cz, where customers who do not have an account on www.invaluable.com may enter written limits. At the end of the auction at www.ustar.cz, the auction house Starozitnosti-Galerie USTAR s.r.o will put these limits on the server www.invaluable.com where the second round of the auction will take place.

 

Once the auction ends at www.invaluable.com, the winner of the auction is automatically evaluated and will be notified of the prize through his contact email at registration.

 

The terms of payment

1. The price reached during the auction is understood to be the highest offer made by an auction participant, upon which the auctioneer conferred a hammer strike. If during the auction of a given item the price achieved by auction does not exceed the so-called reserve price, the auction item remains unsold and will thus be published in the auction results. The reserve price of each auction item is always lower than the lower estimated price of the auction item.

The price reached during the auction cannot subsequently be reduced. The successful bidder, who won the auction by offering the highest bid, is aware of the fact that the auction house will add, to the price reached during the auction, an auction commission of 25% (Buyer´s Premium)of the price reached during the auction.

This auction commission is final and includes VAT as well as the GESTOR copyright tax. The successful bidder will pay this auction commission at the same time as the price reached during the auction.

2. Payment of the purchase price, which is understood to be payment of the price reached during the auction together with the auction commission, can be made in the following ways:

a) in cash, in Czech Crowns or in Euro, for sums not exceeding 250.000,- CZK (or 10.000,- EUR. For conversion, the actual exchange rate for purchasing is set as 1 EUR = 25 CZK.

 

b) By bank transfer to the account of the company Staro-itnosti-Galerie USTAR Ltd. in Raiffesenbank plc., account number 5028663001, sort code 5500, IBAN: CZ8455000000005028663001, SWIFT CODE: RZBCCZPP,

 

3. The successful bidder is obliged to pay within 10 calendar days from the end of the auction the auctioned item in its entirety, including auction commissions. All financial commitments towards the auction house must be settled with 10 days of the issue of the sales receipt, unless otherwise arranged. If the successful bidder does not pay the entire sum owed on time, then the auction house is entitled to charge a penalty of 0.05% of the total outstanding amount per day.

4. If the bidder fails to pay within 10 calendar days from the end of the auction item in its entirety, including auction commissions, will be permanently excluded from the club of  bidders and after that the auction house to exact all damages and lost profits. This eliminated bidder can not attempt to re-registration under a different ID or can not ask another person to be registered for him and auctioned. Such a practice could be considered fraudulent dealings with all the legal consequences that this entails. Unpaid and uncollected items after the 10-day payment deadline, the company Antiques Gallery-USTAR can return it to the auction or to sell to other bidders or candidates and the original auction consider for absolutely failure. The resulting damages and loss of earnings in this case, the auction house estimated and will be required to reimburse the bidder, including all court costs, legal fees etc. With these conditions every bidder expressly agrees and undertakes to deliberately fully respect and accept.

If the winner bidder unpaid item to 10-day deadline, The auction House can unilaterally withdraw from the purchase agreement even without informing the bidder. The unpaid item can be sold to other client.

  

Gaining ownership, and transfer of the auction item

1. If the successful bidder has paid the entire agreed purchase price within the specified time limit, then they gain ownership of the auction item as soon as the payment is made. At the same time, the risk of damage, destruction, loss or accidental deterioration of the purchased item is also transferred to the successful bidder. All services provided by the auction house are considered, for tax purposes, to be the transfer of the auction item provided to the buyer (the successful bidder).

2. The auctioned items may be handed over to the successful bidder only after the payment of the entire amount owed to the auction house, which was incurred in connection with the auctioning of the auction item. The successful bidder will receive a tax receipt from the auction house and possibly also written confirmation of the gaining of ownership of the auction item.

3. The auctioned items will be transferred on the same day, on the basis of a receipt confirming payment for the auction item, at the place of auction, or subsequently in the gallery of the auction house Starozitnosti-Galerie USTAR Ltd., Rytirska 532/9, 110 00 Praha 1, Czech Republic (opening hours: Monday to Friday 10:00am to 12:30pm and 14:30pm to 18:00pm). We recommend that the client arranges the transfer of the auction item beforehand by calling 00420 603871364. The auction item may be transferred only to the successful bidder or to a person who produces a notarised power of attorney, with which the successful bidder authorised this person to collect the auction item.

4. Storage of the auctioned items is free for up to 20 days. After this time, the auction house is entitled to charge the successful bidder a storage fee of 200 CZK for each additional day and each auction item purchased. If the successful bidder fails to collect the purchased and paid-for item within 60 days of the date of auction, then the auction house Starozitnosti-Galerie USTAR Ltd. is entitled to sell the auction item to another interested party, at whatever price it can be sold for. In this case, the successful bidder is not entitled to any compensation.

 

Sale of not purchased items in auction

Items can be purchased within 7 days after the auction. Items can be buy at a price that corresponds to the lower estimated price listed with a 25% auction premium.

 

 

Shipping of auction items

After written agreement with the successful bidder, the auction house will send the auction item to any address in the Czech Republic specified by the successful bidder. The auction house does not arrange transport of auction items abroad. To transport the bidder may use the services of specialized transport companies such as. SPEDIA, FedEx, TNT, UPS, DHL, etc.

Auction House recommended for foreign transport of the auctioned items Mr. Ing. Martin Chramosta (export@stodola.cz, phone number +420 602 561 120). To send a subject outside the Czech Republic must buyer himself and at his own expense, provide the statutory documents required for exports of the subject outside the Czech Republic. Some items must be subject to an export license. This administrative matter takes circa 21 business days. The fee for the export license is 1000 CZK (about 45 USD or 40 EUR).

All costs associated with the transportation of the item shall be borne by the successful bidder. The risk of damage to the auction item is transferred to the successful bidder at the moment when the auction item is handed over to the external carrier who is providing transportation of the auction item to the location specified by the successful bidder.

 

 

Liability for damage

1. All information about the auction items is provided based on the best knowledge and awareness of the auction house experts, after consultation with experts in the relevant   field. Entries in the auction catalogue are made with the aim of providing the maximal objective information for the interested party. These entries are the result of careful investigation, but the accuracy of this information cannot be guaranteed. Every auction participant should personally familiarise themselves with the condition of the auction item prior to the auction, and it is completely up to their consideration whether the auction item corresponds to the description provided. The interested party may expertly assess the item on offer in person, according to their own experience and knowledge, or they have the option of inviting an independent expert to come for an inspection.

2. Neither the auction house nor its employees assume any responsibility for an incorrect description or for the authenticity of the auction item, and they do not provide any guarantees.

3. Any claim against the auction item may be made solely and exclusively by the buyer. The successful bidder may withdraw from the purchase of the auction item if they deliver to the auction house, within 30 days of the end of the auction, a written expert opinion from a competent expert witness indicating that the auction item is a fake, a forgery or a replica and confirming that the auction item really is forged or defective. The auction item must be returned to the auction house in the condition it was in at the time of the auction. Afterwards, the auction house will return, to the succesful bidder, the entire purchase price that they had paid to the company Starozitnosti-Galerie USTAR Ltd. for the auction item.

4. The successful bidder expressly agress that, if the auction house is liable to the successful bidder for damage, then this compensation for damage will be limited to a maximum of the above-mentioned paid purchase price of the auction item. The auction house is not obliged to pay for damage, loss of profit or any other claims which may arise in connection with the purchase of the auction item.

5. If the original owner of the auction item conceals a defect in the works from the auction house, or if they are not aware of a defect in the works and it is discovered only after the auction, then the full amount of the liability shall be borne by the original owner.

Final provisions

The purchase of the auction item at the auction, and the legal relationships connected with it, are subject to Czech law. The relevant court, according to the place of business of the company Starozitnosti-Galerie USTAR Ltd., is authorised to solve any disputes which may arise from the auction.

 

 

The meaning of words and symbols listed in the catalogue

In the opinion of our experts, words listed in the catalogue mean the following:

signed - signed by the artist's own hand,

inscribed - probably, but not necessarily, and authentic work by the artist,

marked - may have been marked by someone else's hand,

workshop/studio - the piece was probably created in a workshop; i.e. in the immediate vicinity of the artist,

school - a piece created in the period and style similar to the artist or a regional group of artists,

circle - a piece created within a wide sphere of influence by the artist,

following - a piece create in the artist's style, but possibly at a later date,

imitator - a piece originating from the imitation or repetition of a piece, created an unknown length of time after the original piece was created.

*KP - the auction item was declared a cultural relic by the state and is subject to the rule of law no. 20/1987 Coll. in force regarding the care for state relics, as amended and set out in the implementing regulation

 

In Prague on 20/05/2019

 

Mr. Pavel Urban, agent

Mr. Zdenek Urban, agent

Auction house: Starozitnosti-Galerie USTAR Ltd, company identification number: 28611705, tax identification number: CZ28611705

Place of business: Denisova 306/21, 779 00 Olomouc

Website: www.ustar.cz

 

e-mail: antik@ustar.cz