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CONDITIONS
OF THE AUCTION |
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1. |
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By participating in the auction, the Buyer accepts
the terms and conditions of the auction set forth
without reservation. |
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2. |
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The Auctioneer directs and decides on the
consecutive biddings for each lot, has the right to
refuse bids smaller or higher than those he proposed by
him. |
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3. |
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The Auctioneer at his discretion has the right
to refuse entry or participation in the auction of any
individual as well as the right to withdraw from the
auction at any time any lot. |
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4. |
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A Buyer is considered to be the bidder who
accepts the highest price offered by the Auctioneer and
to whom the Auctioneer close the lot on. Offers from
persons not attending the sale are accepted by the
Auctioneer either in writing or by telephone during the
conduct of the auction and under the condition that the
bidder’s personal information as completed in the
“Written Offer” from are accurate and correct at least
24 hours prior to the start of the sale. |
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5. |
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Each work is sold “as is”. The Auctioneer and
his agent / associates bear no responsibility for any
possible defects, imperfections, damages or wear and
tear on a work. All statements made in the catalogue as
to the provenance, dating, authenticity and estimate of
a work are to the best of knowledge and does not imply
or create ultimate responsibility for the Auctioneer or
his agents / associates. A Buyer has the right to return
a work within three (3) years of its purchase if it can
be reasonably proved that it is a counterfeit or fake.
In such case, the Auctioneer agrees to return to the
buyer the amount paid (including commission and VAT).
Conditions of accepting the work are that it has not
been resold to a third party, it is the same condition
as it was when it was originally purchased from the
Auctioneer, and there are no notes or mentions in the
auction catalogue disputing its authenticity. |
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6. |
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Each work is considered in good faith by the
Auctioneer to be the property and ownership of the
seller, who in turn guarantees that the work is free
from any legal claim or demands by others.
The works can be collected once payment in full is
settled from the sales office beginning the day after
the auction. The buyer is required to settle his account
and collect his purchase within seven days of the
auction. |
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7. |
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In the event the buyer refuses or is unable to
settle his accounts and collect his purchase within
30days of the auction date, the Auctioneer has the right
to a) initiate legal action against the buyer demanding
payment in full, b) dispose of the work through a
private sale or auction, and c) demand compensation for
any damages incurred due to the buyer’s inability to
fulfill his obligations. |
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8. |
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For all sales direct from the Psatharis Auction
House the following rates of Buyers Premium
(commission) will be payable by Buyers of Lots: |
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15% from €0 to €25.000 of
the Hammer Price
10% from €25.001 to €50.000 of
the Hammer Price
5% from €50.001 and
above.
On the Buyer’s Premium (commission) 19% is added
on the hammer price |
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In accordance with the Cyprus Law of 1976 till
2020 relation to the Artists΄ Resale Rights
(artists that are alive or have died in the last
seventy years), on the Hammer Price charged with
the rate 4% from €1 - 50.000. This rate is
divided as follows: Seller (the Person offering
a lot for sale) 2% and the Buyer 2%. 19% VAT is
added in this amount. |
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9. |
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For all sales through the Invaluable the
following rates of Buyers Premium (commission)
will be payable by Buyers of Lots: |
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20%
from €0 to €25.000 of
the Hammer Price
15%
from €25.001 to €50.000 of
the Hammer Price
10%
from €50.001 and
above.
On the Buyer’s Premium (commission) 19% VAT is
added on the hammer price. |
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In accordance with the Cyprus Law of 1976 till
2020 relation to the Artists΄ Resale Rights
(artists that are alive or have died in the last
seventy years), on the Hammer Price charged with
the rate 4% from €1 - 50.000. This rate is
divided as follows: Seller (the Person offering
a lot for sale) 2% and the Buyer 2%. 19% VAT is
added in this amount. |
| 10. |
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Works marked with
(*), which come from countries outside the
European Union, the buyer pays the House the
amounts mentioned in paragraph 9 of the
conditions of the auction catalog and an
additional 19% VAT on the award price. |
How
to Buy at Psatharis Auctions
How to find out about Psatharis sales
This step by step guide to buying at Psatharis is
designed to help answer any questions you might have
about how to buy at Psatharis.
The first step to buying at Psatharis is to find out
when and where sales are being held.
Sales Diary
If you would like to be sent a sales diary please email
subscriptions.
Catalogues
Catalogues can be obtained from our catalogue
subscriptions page. You can contact us for a catalogue
on +357 24621109 or +357 99564131
or email us at
psatharisauctions@cytanet.com.cy
Alternatively you can view our listed catalogues online
in our website.
On the Internet.
A full sale calendar of all scheduled forthcoming sales
can be found on www.psatharis-auctions.com.cy by using
the menu at the top of the page. Click on the “calendar”
or “current auction” or on the “results buttons”.
Condition reports.
Once you have found an item you are interested in
bidding for you can obtain a condition report from our
office by emailing or telephoning us.
Buying at auction
Registering to bid
Once you have established that you want to bid on an
item you need to register with Psatharis Auctions.
Like many auctions houses, Psatharis Auctions operates
its sales using a paddle bidding system. If you wish to
bid you must register before the sale, providing your
name and address, and proof of identity and residence,
for example your passport or driving license or identity
card. In exchange, you are given a paddle - a card
printed with your personal number for the sale.
At the end of the sale, or when you have finished
bidding, please return your paddle to the registration
desk.
Bidding
Once you have registered for a sale you are ready to bid.
There are a number of ways that you can bid for an item
at auction.
Attending the sale.
You will be issued with a paddle when you register at
the sale and you must show this to the auctioneer, by
raising it, when you wish to bid on a lot. If you are
successful in your bidding the auctioneer will make a
note of your paddle number and you can proceed to the
cashier for payment. If you would like to bid on further
lots in the sale you can pay for all your items at the
end of the sale. If you pay with cash you can take your
items away immediately. If you pay by credit card you
will liable to a surcharge and you can take your items
away immediately. If you pay by check you must wait
until the check has cleared before you can pick up your
items.
Bidding over the telephone
This is particularly appropriate if you want to place
your own bids on a specific lot even though you cannot
attend the sale yourself. Telephone bids must be booked
in advance with us. You will also be asked to complete
a Telephone Bid Form in the usual way, providing proof
of identity and your contact telephone and fax numbers.
Visit the website: www.psatharis-auctions.com.cy
Go to “place bid”
Click on print “Telephone Bid Form”
Alternatively, you may telephone your bid through to the
saleroom Bids Office, but we must receive written
confirmation from you - either by fax or post- at least
24 hours before the start of the auction. If we receive
two bids of equal value, preference is given to the bid
that arrives first
On the day of the sale, our representative will
telephone you about ten lots before your lot comes under
the hammer. When this happens, you will be talked
through the bidding and asked at each stage if you wish
to continue - either until you are successful or until
you choose to cease bidding.
Absentee Bid Form
We are happy to undertake placing of absentee bids on
your behalf. This means that, with your written
permission, we act as your representative to secure an
item for you at the lowest possible price. You simply
complete an Absentee Bid Form (Which you will find
printed in the appropriate sale catalogue, or which can
be obtained from our office), giving your price limit
for any specific lot. This should be the maximum hammer
price that you are prepared to pay, remembering to take
into the additional 15% buyer’s premium and 19% VAT on
buyer’s premium. You will be required to provide your
credit / debit card details, proof of identity and
residence if you are registering for the sale.
Alternatively, you may telephone your bid through to the
saleroom Bids Office, but we must receive written
confirmation from you - either by fax or post- at least
24 hours before the start of the auction. If we receive
two bids of equal value, preference is given to the bid
that arrives first.
On the day of the sale, please check whether your bid
has been successful by telephoning us an hour or so
after the end of the sale. Otherwise, a successful bid
is confirm by invoice. You must ensure that Psatharis
Auctions has cleared payment prior to you collection
your lot.
Registering to leave an absentee bid on the internet.
First you need to registered with Psatharis Auctions.
Go to “place bid”
Click on “absentee form”
Complete the form and post / email it back to us.
You are now ready to bid
After the sale
To find out if you have been successful in your bidding
please look at the online results that will be published
after the sale Click on ‘results’ to go to the results
page.
Payment
The price you pay is the amount at which the
auctioneer’s hammer falls (the hammer price), plus 15% on the buyer’s premium and VAT 19% on buyer’s premium
where applicable. You are issued with an invoice made
out to the name and address on your Registration Form,
which may not be subsequently altered. The invoice
breaks down these cost elements. Full details of charges
and rates can be found in the ‘Conditions of Sale’ and
‘Important Notices’ printed in each catalogue.
Method of Payment
Euro cash / check to be drawn on a Cyprus bank and made
payable to ‘Psatharis Auctions Limited’. If payment is
made by post, please enclose the tear-off slip from your
invoice. Checks drawn by third parties cannot be
accepted.
Collection / Delivery
We are happy to assist with delivery and will provide a
quote to do so. We can arrange for your goods to be
delivered to you, once we have received your written
dispatch instructions and full payment, including
shipping costs. For international deliveries an export
license may be required.
Please contact us for further
information.
 Place Bid
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