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Conditions of sale
1 The auction is organized, handled and conducted by the auctioneer,
Belvedere Szalon Kft. (1051, Budapest, Szent
István tér 12.), acting as an agent on behalf of the vendor.
2. The Belvedere Szalon Ltd. (Belvedere Salon,
Gallery and Auction House) issues a catalogue of the lots and
all the lots are available for inspection prior to the sale.
The descriptions and illustrations of the catalogue serve exclusively
for the purposes of identification and, accordingly, the buyers
have to make sure prior to the auction that the lots are in perfect
state and that they are in conformity with the description of
the catalogue. The Belvedere Szalon Ltd. reserves
the right to refrain from submission for bid of particular items
included in the catalogue.
3. The auction may exclusively be conducted with the bidding
paddle registered according to name and address of residence.
The buyers express by their appropriate action, i.e. by collecting
the paddle that they agree to accept and to abide by the Rules
of Sale.
4. The lots will be briefly presented in the succession of the
catalogue and the reserve price announced while the buyers make
their purchase bids by raising the numbered paddle. If more purchase
bids are made for the reserve price, the auctioneer shall raise
the price according to the bidding grades as long as a single
bidder will remain and the sale is made.
5. The first bid refers to the reserve price and all further
bids refer to the bids increased by the amount as shown below:
| Last bid (HUF):: |
Amount increased (HUF): |
 |
| From 10 000 |
to 20 000 |
1 000 |
| From 20 000 |
to 50 000 |
2 000 |
| From 50 000 |
to 100 000 |
5 000 |
| From 100 000 |
to 200 000 |
10 000 |
| From 200 000 |
to 500 000 |
20 000 |
| From 500 000 |
to 1 000 000 |
50 000 |
| From 1 000 000 |
to 2 000 000 |
100 000 |
| From 2 000 000 |
to 5 000 000 |
200 000 |
| From 5 000 000 |
to 10 000 000 |
500 000 |
| From 10 000 000 |
to 20 000 000 |
1 000 000 |
| From 20 000 000 |
to 50 000 000 |
2 000 000 |
6. If the buyer cannot be identified for any reason during the
auction, sale of the given lot will have to be repeated. No
lots may be purchased below the reserve price.
7. The hammered object may not be returned by the buyer or taken
back and offered for re-auction by the Belvedere Szalon Ltd. Unsold goods may be asked by the buyers to be
re-auctioned at the end of the sale.
How to make the sale
1. The sale is made by hammering between
the highest bidder and the auction house – unless the Hungarian
State exercises
her right of pre-emption in relation to cultural assets that
are acknowledged protected and provided for by Law No LXIV item
51 paragraph (4) of 2001. The buyer will acquire the ownership
rights of the lot when he/she had paid the full purchase price
and taken over the lot from the Belvedere Szalon Ltd.
Paying the purchase price
1. The amount of the purchase price
is made of the hammer price, the buyer’s premium, the artist’s
royalty as well as the cultural
tax.
2. The buyer, at his/her discretion, shall pay at the auction
the full purchase price or at least 20 per cent of the purchase
price as a deposit immediately in cash or with credit card. The
buyer should pay the part of the purchase price exceeding the
deposit within 5 working days from the date of the sale. The
amount of the deposit – in case the payment is made within term
– has to be included in the purchase price. If the buyer fails
to pay the full purchase price up to the specified term, the
Belvedere Szalon Ltd. has the right to cancel
the sales. In this case the deposit paid by the buyer should
not be repaid to him/her.
3. The buyer shall pay a buyer’s premium in the amount of 15%
of the hammer price.
4. The buyer shall pay, in case of a genuine fine art or decorative
art item (painting, drawing, multiplicated graphic work of art
or work of decorative arts, sculpture or tapestry) having a serial
number and bearing the artist’s signature, a 5% artists’ royalty
added to the hammer price and the buyer’s premium (Law LXXVI
item 70 of 1999) and, additionally, a 1% cultural tax on every
hammered object (Law XXIII item 5 of 1993).
5. In case of paying with credit card, an additional 2% of credit
card fee will be charged.
Takeover of the lot
1. If the buyer has fully paid the purchase
price, the lot may be taken over at the site of the Belvedere Szalon Ltd.
2. The buyer has the obligation to make provisions for the dispatch
of the purchased item, at his/her own cost and risk. In failing
to do so, the Belvedere Szalon Ltd. assumes
no responsibility for any damage or loss to the object and will
charge 5% of storage fee from the 5th day of the sale. If the
buyer in spite of the call fails to transport the lot following
the auction, in this case the Belvedere Szalon Ltd.
is free to sell (also outside the auction) the item after 6 months
and will handle as a deposit the remaining amount after deducting
in favour of the buyer – until the expiration of the term of
limitation.
Lots marked “PROTECTED”
1. The lots marked “PROTECTED” in the
auction catalogue may not be taken abroad from Hungary for ever
(Law LXIV item 59 section
(1) point b of 2001). The owner of the objects marked “PROTECTED”
will be recorded by the Authorities for Protection of Cultural
Heritage and the change of ownership should be notified (Law
LXIV item 52 section (3) of 2001).
Conditions of purchase order
1. If the buyer does not intend
to be present at the auction in person, the purchase offers will
be made by the Belvedere Szalon Ltd. based on the purchase offer on
behalf of the absentee buyer (commissioner). The commissioner
should pay 30% of the sum determined in the purchase offer as
advance payment personally or to the bank account of the Belvedere Szalon Ltd. If the purchase offer is successful,
the total amount of the advance payment should be considered
deposit and in all the other matter (deadline of paying the purchase
price, delivery of the lot, etc.) the rules concerning the personally
attending buyer are applicable. If a third person gives an order
of a higher sum on the same lot or the buyers in the saleroom
make a higher purchase bid the absentee buyer will be repaid
the deposit without any deduction. If the bidding grade coincides
with the limit of the commissioner, the absentee buyer’s bid
counts.
2. The Belvedere Szalon Ltd. accepts also
bids by telephone – along the same lines. Bids by phone should
be presented up to 2 p.m. on the day of the auction at the latest.
If the items are not collected by the bidder within 5 days,
the Belvedere Szalon Ltd. reserves the right
to annulate the bidder’s offer and to keep the deposit.
Limitations
1. The purchase price is created by the public buyer’s
offers and therefore the Belvedere Szalon Ltd.
does
not assume any responsibility for the purchase price of the given
lot and it cannot be committed to submit the same lot for re-auctioning
at the same price.
2. All goods are sold with all faults and imperfections they
have at the time of the sale without any warranty.
3. After hammering no objections or complaints are considered,
unless the lot specified as a genuine one in the catalogue proves
to be a falsification.
Prohibited action
1. Prohibited are all kinds of action leading
to fraudulence during the auction, bidding or in the hammer
price (i.e. plotting)
or to the evasion of the Rules of Sale. The auctioneer will
exclude buyers from the auction who exhibit prohibited behaviour.
Data protection
1. The Belvedere Szalon Ltd.
is entitled to use the registered personal data (name and address)
exclusively
for the purposes of marketing (sending information matter, invitations,
etc.), unless the buyer prohibits it following the auction. The
Belvedere Szalon Ltd. as the data handling
entity, shall not make the personal data available for third
parties and must not publish them.
Other provisions
1. All matter not regulated
in this Rules of Sale, is governed by the rules of the Civil
Code. In the instances
of legal disputes
the parties stipulate the exclusive jurisdiction – depending
on the value range – of the Metropolitan Court of Justice or
that of the Central District Court of Jurisdiction of Pest.
To the attention of foreign (overseas) buyers
The Law LXIV of
2001 provides for the exportation of cultural goods. Cultural
goods may only be taken out for ever from the
country (Hungary) under the written consent of the Authorities
for Protection of Cultural Heritage. A special expert company
– in cooperation with the Belvedere Szalon Ltd.
– is dealing with the exportation of cultural goods to be exported
without licence or with a final exportation license (licensing,
packaging, customs clearance, transportation).
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