Auction Date:2005 Oct 24 @ 18:00 (UTC+01:00 : BST/CET)
Location:Budapest, Hungary
Chalk on paper, 35x26 cm Signed bottom right: Gross 2 449 EUR
Auction Location:
Budapest, Hungary
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
15% |
Additional Fees:
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1. Mu-Terem Gallery, as an auction house, organises, arranges and conducts auctions. The Gallery acts as a commercial agent for sellers. Items are offered in the order of their appearance in the catalogue. The auctioneer announcing the catalogue number and initial price of the object in question, those who wish to purchase it make their offers by holding their hands up.
2. Ownership right of items are secured by the purchaser making the highest offer except if a Hungarian museum uses its right of pre-emption as set forth in Regulation 9 of the year 1963 on the Protection of Museal Treasures for items marked as protected in the catalogue.
3. On behalf of clients, subject to their authorisation, the auction house, as a commercial agent, has a right to enter into a sale agreement with the purchaser offering the highest price in the course of the auction and to accept the purchase price. In such a manner, sales agreements become effective between clients and purchasers.
4. Purchasers are bound to pay a deposit of 20% of the sale price immediately at auctions.
In case the entire purchase price is paid in one sum at the auction, the item concerned can be obtained on site. The auction house provides auction purchasers a possibility to settle the part of the purchase price over the deposit within seven (7) days after the date of the auction. In th case of the payment due, the amount of the deposit is accounted for in the purchase price. If an auction purchaser does not settle the entire purchase price by the deadline, the auction house may rescind the sales agreement. In this case, the amount deposited by the purchaser is not refundable.
5. Purchasers are to pay a commission fee to the auction house amounting to 20% of the purchase price. Commission fees include VAT.
6. After paying the purchase price, purchasers are required to pay for transporting items purchased. In case of a failure to do so, the auction house may not be held liable for damages to the item and will charge a storage fee amounting to 5% of the purchase price after the 15th day following the auction. In case a purchaser fails to transport the item purchased upon notice, the commercial agent may at its disposal sell the item after six months and forward the amount remaining - after deducing its expenses - to the purchaser.
7. It is forbidden to buy sold items back and offer them again in an auction. For sold items, if the identity of the purchaser cannot be exactly determined, the client has a right to offer the item in a new auction.
8. It is forbidden to attempt any conspiracy or enterprise aimed at causing third parties to offer a price significantly over the normal market price and so damage third parties thereby.
9. All items are displayed at exhibits before and during auctions. Descriptions and illustrations in catalogues only serve for identification purposes; therefore purchasers must assess the condition of auction items for compliance with the description given in the catalogue. Items are sold with all defects and deficiencies in their state current as of the auction.
10. Mu-Terem Gallery guarantees the authenticity of all auction items. After the sale no claims are accepted unless an item listed in the catalogue as genuine is proven a fake. In this case, auction purchasers may submit a claim in writing within three months of the first suspicion of authenticity but not later than five years after the date of the auction.
The commercial agent undertakes to purchase back any sold item for the purchase price and the amount of the commission fee within five years following the execution of the sale agreement provided an independent expert establishes its lack of authenticity.
11. Items offered for sale may not be purchased for less than the initial price.
The auction house may not be held liable for offers made by clients or auction prices paid by them. It may not be obliged to sell or offer the same item for the same price at a later auction.
12. Items marked "Protected" in our auction catalogues may not be exported from Hungary. Museums keep records on owners of items marked "protected" and they are to be informed on changes of owners.
13. Unsold items may be re-auctioned in a later auction.
14. Issues not settled in these terms and conditions shall be governed by the Civil Code, and, in case of disputes, the parties shall be subject to the Capital Court.