Conditions of sale
1. The auction is organized, handled and conducted by the auctioneer, Nagyházi Galéria Árverési Ház, acting as an agent on behalf of the vendor. The lots called up are in succession as in the catalogue. The auctioneer announces the catalogue number of the lot in question and buyers indicate their wish to bid by raising their paddle. Buyers may participate in the bidding only with a numbered bidding paddle. To receive a paddle buyers shall be registered with name and address, or client card preceding the auction. Being registered buyers acknowledge to accept the conditions of sale.
2. On the fall of the auctioneer’s hammer, title to the offered lot will pass to the highest bidder acknowledged by the auctioneer. However, in case of lots marked as „protected items” (VÉDETT) in the catalogue, Hungarian museums reserve the right to buy the item at the hammer price. (Law No. LXIV. of 2001.)
3. The buyer has to pay 20 % of the hammer price, as deposit, in cash immediately after the sale. In case the whole price is paid, the buyer can have the object after the sale. A possibility to pay the amount over the deposit within the space of 14 days is rendered by the agent. The deposit is part of the hammer price on condition that it is paid within 14 days. In case of non-payment within two weeks of the date of the sale, the agent Nagyházi Galéria Árverési Ház regards the buyer's bid as null and void in which case the buyer has no right to reclaim the deposit. Nagyházi Gallery reserves the right to reject the auctioning of certain lots listed in the catalogue.
Bidding steps
under 20 000 HUF 1 000 HUF
between 20 000 – 50 000 HUF 2 000 HUF
between 50 000 – 100 000 HUF 5 000 HUF
between 100 000 – 200 000 HUF 10 000 HUF between 200 000 – 500 000 HUF 20 000 HUF
between 500 000 – 1 000 000 HUF 50 000 HUF
between 1000 000 – 2 000 000 HUF 100 000 HUF
4. 23% buyer’s premium shall be added to the hammer price and paid by buyers.
5. Immediately after sale the buyer assumes full risk and responsibility thereof for the lot including any loss or damage and for shipment. The auctioneer is not responsible for any damage occuring after the sale. If the buyer fails to ship the purchased item the auctioneer has the right to charge 5 % of the price as storage and handling price per month from the fifteenth day of the date of the auction. In case the buyer fails to remove the goods - in spite of being called upon to do so - after 6 months the agent has the right to sell the item and will preserve the amount for the buyer as deposit minus expenses.
6. No seller may bid nor may any third party bid on seller's behalf in order to reach an unreasonably high price thus inflicting a loss on any other party.
7. All lots are available for inspection prior to and during the sale.
8. Descriptions and illustrations in the catalogue are for identification only. Buyers should satisfy themselves prior to the sale as to the condition of each lot and should rely on their own judgement as to whether the lot accords with its description. The Auction House will not accept any complaints after the fall of the auctioneer’s hammer on the lot unless the item proves not to be genuine despite being marked so in the catalogue. In such case the buyer may contest the sale in writing within three months of his/her doubt to the provenance or the authenticity of the item, but no later than five years from the date of the auction. The Auction House undertakes to re-purchase the item from the buyer for a price including the hammer price and the agency fee if an independent expert establishes that the item is not genuine.
9. All goods are sold with all faults and imperfections they have at the time of the sale without any warranty.
10. No object will be sold for an amount less than the estimate price in the catalogue. The auctioneer bears no responsibility for validity of the bids. The Auction House shall not be obliged to re-offer the lot for the hammer price at a future auction.
11. In our discretion, The Auction House will execute order bids or accept telephone bids as a convenience to clients who are not present at auctions in accordance with a purchase assignment. Telephone bids will not be accepted for items with starting prices below € 300 (80 000 HUF). If the connection cannot be established in case of telephone bids (i.e. the bidding person cannot be reached for any reason), it is considered a bid for purchase placed on the starting price. We assume no liability for any difficutlies in telecommunication that may arise. Fifty per cent of the amount agreed upon in the order bid is to be paid prior to sale on which the buyer is to be given acknowledgement of receipt. In case a higher bid is left for the same lot by a third party or is by buyers in the saleroom, the the advance will be paid back to the absentee bidder. If the order to buy is succesfully executed, 20% of the purchase price is to be considered as deposit from the advance.
12. No objects marked „VÉDETT” (protected) in the catalogue may be taken abroad. Owners of protected goods will be registered by museums which should be notified in the case of any change in ownership.
13. The exportation of cultural goods is governed by the Law No. LXIV of 2001. Cultural goods may be finally exported from the country only in the possession of a license issued by the National Office of Cultural Heritage (hungarian name: Forster Gyula Nemzeti Örökséggazdálkodási és Szolgáltatási Központ, Műtárgyfelügyeleti Iroda).
A special company – in corporation with Nagyházi Gallery – deals with the exportation of cultural goods to be exported without license or with a final exportation license (licensing, packaging, customs clearance, transportation). For further information, as well as expertise and quotation, please contact FOR-ANT-EX (H-1071 Budapest, Városligeti fasor 47-49.) on the phone number 00-36-1-321- 3742 or by their e-mail address: info@forantex.hu.
14. Unsold lots may be asked to be re-auctioned by the agent at the end of the sale. The Euro rate indicated in the catalogue is only for information. The basis of the account shall always be the exchange rate at the date of the payment of the purchase price.
15. In the time of the auction we will apply to the epidemiological regulations.
Nagyházi Galéria és Aukciósház as agent/auctioner
Budapest, September 2021
VÉTELI MEGBÍZÁST ADOK
