Auction Terms & Conditions

1. These auction terms and conditions were produced in order to organize the sale of paintings and works of art in the form of auction by the salesroom Adolf Loos Apartment and Gallery Ltd. (further referred to as the “Auctioneer”). Auctions organized according to these auction regulations are organized in respect of international customs relating art trade and are in compliance with the percepts of the law of Czech Republic. Auctions are accessible only to the clients of the salesroom, and also others who receive the salesroom’s permission to attend. On request of the owners of the auctioned items, the salesroom Adolf Loos Apartment and Gallery Ltd., U Starého hřbitova 40/6, 110 00 Praha 1 – Josefov, IČO: 28519213, organizes a public auction of works of art at the Exhibition Hall Manes, Masarykovo nábřeží 250/1, Praha 1, Nové Město 110 00 on 14th May 2017 at 2 pm. These Auction Terms & Conditions are compulsory for everyone who participates in the auction, and by participating, one commits to comply with these Terms & Conditions. The complete set of auction regulations is available at the pre-auction exhibition.

2. All auctioned items are labeled and fully described in the auction catalogue that is an integral part of these Auction Terms & Conditions. The catalogue descriptions also include „starting-selling“ prices. All the works of art will be auctioned in numerical order, as presented in the auction catalogue. The Bidder is obliged to register before the start of the auction. During registration, the Bidder must prove his identity by providing a valid photographic ID or a passport. Registered participant immediately becomes the Bidder, and will be assigned a paddle number. The Auctioneer reserves the right to request a bank guarantee or a deposit from the Bidder.

3. The Auctioneer commits to selling all auction items under a number assigned in this auction catalogue. After bidding is started, the Bidders bid using their paddles. The auction will continue until no further bids will be raised. The consecutive bids are raised as follows:
a) 1.000 CZK if the monetary auction price is not more than 50.000 CZK,
b) 5.000 CZK if the momentary auction price is at least 50.000 CZK, but not more than 100.000 CZK
c) 10.000 CZK if the momentary auction price is at least 100.000 CZK, but not more than 1.000.000 CZK
d) 50.000 CZK if the momentary auction price is at least 1.000.000 CZK but not more than 5.000.000 CZK
e) 100.000 CZK if the momentary auction price is at least 5.000.000 CZK but not more than 10.000.000 CZK
f) 250.000 CZK if the momentary auction price is at least 10.000.000 CZK and more
The sequence of bids is controlled by the Auctioneer.

4. The successful Bidder is obliged to pay the final price immediately after the end of the auction. The Buyer is obliged to pay the auctioned price (hammer price) and the 20% auction fee (buyer’s commission), unless indicated otherwise in the auction catalogue. These commissions are final and include VAT, as well as 4% copyright fees „Droit de Suite“. After agreement of the Auctioneer, it is possible to pay the whole outstanding amount by a bank transfer, or in cash at the auction or the office of the Auctioneer. Unless agreed otherwise, the whole amount must be settled within maximum of ten working days after the end of the auction.

5. The Bidder can participate in this public auction also in absentia provided that:
– he will prepare and submit Power of Attorney for the Auctioneer Adolf Loos Apartment and Gallery to represent him at the auction
– he will clearly specify the items to be bid on for him by Adolf Loos Apartment and Gallery
– he will set up the upper limit of bidding for each item required
– after a written consent, the Bidder can also bid by phone
A form and further instructions for absentee bidders are attached at the end of this auction catalogue, and are available on the website of the company Adolf Loos Apartment and Gallery - www.aloos.cz.

6. Sold paintings and works of art will be handed over to the Bidder immediately after a payment is made in the auction room, or after payment is confirmed at the gallery and office of Adolf Loos Apartment and Gallery, address: U Starého hřbitova 40/6, Praha 1 – Josefov (open Monday – Friday from 10am to 5.30 pm). We recommend you to arrange the collection date in advance by phone: +420 602 325 990. The Bidder is responsible for all the costs related to the transport of the auctioned item. Responsibility for any possible damage to the auctioned item is passed onto the Bidder immediately after collection, both in person or by a shipper contracted on behalf of the Bidder who will provide the transport of the auctioned item to a place indicated by the Bidder. If the Bidder does not collect the auctioned items at the headquarters of the Adolf Loos Apartment and Gallery within 14 days after the bidding (unless arranged otherwise in writing), the Auctioneer is entitled to charge the fee of 100 CZK for every additional day of storage. The auctioned items are insured by the Auctioneer until collected by the Bidder, however for no more than 14 days after the end of the auction.

7. The auctioned items are to be paid for to the bank account of the company Adolf Loos Apartment and Gallery Ltd. at bank: ČSOB. The account number is: 226434311/0300, IBAN CZ30 0300 0000 0002 2643 4311, SWIFT CODE: CEKOCZPP. All catalogue prices indicated in Euros are only orientational, are calculated at the rate of exchange 27 CZK/EUR, and serve as a guidance to the buyers. These prices will be recalculated in respect of the actual EUR/CZK rate of exchange of the Czech National Bank at the day of the auction. On request, it is possible to pay for all auctioned items in EUR or USD – the final price will be calculated in respect of the current EUR/CZK or USD/CZK rate of exchange of the Czech National Bank.

8. The Auctioneer, Adolf Loos Apartment and Gallery Ltd., is not responsible for any print mistakes and colour differences in the auction catalogue. Participants in auction have the right to assess the condition of offered lots and ask for a condition report prior to the auction.

9. The estimate, professional expertise and auction item identification and description is provided by experts contracted by the Auctioneer. Only damage that has a bearing on the artistic value of the auctioned item is disclosed by the auction catalogue. All clients have an equal opportunity to view the auction items prior to auction, at the pre-auction exhibition. Any complaints regarding the price, quality, condition and functionality of the auctioned items will not be taken into account after the end of the bidding.

10. Our experts assign the following meaning to these terms used in the auction catalogue:

signed - signed by the artist’s hand
attributed - probably, but not certainly, a work of art by a given artist
studio/workshop - work of art made at a workshop, in a close proximity of the artist
school of - work of art created in the style of the master and in the same period
circle of - work of art created in a wider circle of influence of the artist
follower of - work of art created by a follower of the master, can be an imitation or a repetition of a work of art of an unspecified date