Conditions of sale

Here are the conditions of sale primarily with regard to the buyer.

On this website you will also find the complete conditions of sale.

 

PRIMARILY WITH REGARD TO THE BUYER

 

1. The buyer
The highest bidder buys at the gavel price. Upon any dispute about the allocation, the auctioneer will decide to whom the lot is allocated. Every bidder is considered to act on his own account and is personally responsible for the purchase, unless a valid document of the actual buyer is handed over to Galerij De Vuyst 4 hours prior to the start of the auction. In this event, the actual bidder is jointly and severally liable together with the buyer for all obligations resulting from this bid. Bids of the bidder also result in the actual buyer being bound by the prevailing general sales conditions.

 

2. The minimum raise
The auctioneer is entitled to refuse a bid that does not raise the previous bid by 10%.

 

3. Buyer’s premium and royalties
The sales costs (buyer’s premium) are at the expense of the buyer, as are the royalties, if any.
Buyer’s premium amount to 22% of the gavel price, VAT included, if VAT is applied onto the margin (art. 58, § 4 VAT code).
Royalties are applicable to artists from countries member of the European Union and countries outside the E.U. where according to the law royalties are applicable, and that up to and including 70 years after the year the artist died, for lots with a gavel price of € 2.000 or more.
The Royalties are calculated as follows:
- 4 % on the part of the gavel price up to € 50.000 included; - 3 % on the part of the gavel price from € 50.000,01 up to
€ 200.000 included; - 1 % on the part of the gavel price from € 200.000,01 up to
€ 350.000 included; - 0,5 % on the part of the gavel price from € 350.000,01 up to € 500.000 included; - 0,25 % on the part of the gavel price superior to € 500.000. The total amount of the royalties cannot be more than € 12.500.
(Law of December 4th 2006 and R.A. of August 2th 2007)
Insofar as a buyer living outside the European Union gives prior notice to Galerij De Vuyst that he opts for the purchase according to the ordinary VAT rules, then for works of art exported outside the European Union and only after being submitted the required export documents, Galerij De Vuyst will repay the VAT amount insofar as it is included in the sales price or was added to it. Invoices drawn up during or immediately after the auction will remain subject to an extra verification and correction because of the straining of the bookkeeping.
◊ Lots marked with a rhomb are coming from a country outside the European Union and are therefore subject to a special VAT regulation, increasing the sales costs to 28% instead of 22% of the gavel price, including the VAT on the margin.

 

4. Payment
The payment and collection of the purchase will be done within five working days following the auction. The sale is done by cash payment of the sales price in Euro. The total price for the purchase of a good worth € 3,000 or more may not be paid in cash. Immediately after the purchase of a lot the buyer will give his name and address to Galerij De Vuyst and, if so desired, provide proof of his identity. If the buyer fails to do so, the lot can be re-put to auction immediately, such as the auctioneer sees fit. Payment will but be considered done as soon as Galerij De Vuyst is in possession of the cash money or as soon as the bank account of Galerij De Vuyst has been credited. All moneys received by Galerij De Vuyst from the buyer, are always used for settling the oldest debt of this buyer to Kunstgalerij De Vuyst, with the date of the sale and the lot number being decisive for the debt resulting from the purchase at the auction. Payments with Mastercard, Visa and Eurocard will be subject to administrative costs amounting to 2% for Belgian and foreign card holders..

 

5. Collection
To avoid any inaccuracy no lots will be collected during the auction. The allocated lot will not be transferred into the hands of the buyer before the total sales price has been paid. The buyer will collect the purchased goods at his own costs and risk within five working days following the auction. The allocated goods are given utmost care but after the allocation Galerij De Vuyst or anyone in its service cannot be held liable for any loss or damage. After the fifth working day following the auction additional insurance and storage costs are fully at the buyer’s expense.
Every transport of purchased lots will be arranged by the buyer himself on his own responsibility.

 

6. Upon the non-collection or non-payment of assigned lots in accordance with articles 4 and 5, Galerij De Vuyst may:

 

* proceed against the buyer for breach of contract;

 

* dissolve the sale of the lot and also that of other lots sold at the same and previous auctions;

 

* re-offer the lot for sale, immediately or at a later auction, whereby any negative difference in the later sales price will have to be paid by the failing buyer without that he will be entitled to a bonus should the occasion arise;

 

* transport, deposit and insure the lot at the expense of the failing buyer;

 

* charge interests of maximum 1.5% per month on the sales price;

 

* withhold this lot and other lots allocated to the same buyer at the same and other auctions, so as but to release them when the total amount due for all lots has been paid;

 

* reject and not consider bids made by and on behalf of the failing buyer at future auctions;

 

* make all arrangements to be compensated, if necessary by confiscating goods owned by the failing buyer that for one reason or the other are in possession of Galerij De Vuyst.

 

7. Description of the lots
a. The objects to be auctioned are usually of some age. All lots are sold in the condition in which they are, with their flaws and shortcomings. Illustrations in the catalogue are meant for identification purposes only. The buyers must verify themselves the condition of each lot before the auction, whether or not it is damaged or repaired, and see for themselves if the lot fits the description. Every statement in catalogues, brochures or publicity texts of Galerij De Vuyst falls beyond the responsibility of the gallery. Every statement in catalogues, brochures or publicity of Galerij De Vuyst regarding the author, origin, age, attribution, quality and condition of any lot whatsoever is merely an opinion, no fact, and may not be considered as such.
Galerij De Vuyst nor anyone in the service of Galerij De Vuyst has the authority to give any warranty regarding a lot. Galerij De Vuyst does not give any warranty to the buyer, not even an unspoken one, regarding the sold good; as regards to the liability of Galerij De
Vuyst, all claims that the buyer could acquire against Galerij De Vuyst are always limited to maximum the total amount of the actual price paid by the buyer to Galerij De Vuyst.

 

b. If within 21 days following the auction Galerij De Vuyst receives a notification from the buyer of the lot that the authenticity of the lot is disputed, Galerij De Vuyst will, if it is convinced that the charge is justified, establish contact with the seller and, if needed, act according to article 13 of the sales conditions, with the buyer giving a power of attorney to Galerij De Vuyst to this end.

 

8. Galerij De Vuyst is at all times during an auction entitled to refuse or ignore bids as it sees fit, to allocate a lot with reservation, not to put up a lot for auction that was announced in the catalogue, to combine lots or to change the order of the works to be auctioned.

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