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Terms and Conditions

Terms and Conditions for the Sale of Artworks at the Auction

1. General provisions

The following Terms and Conditions shall govern the execution of public and private auctions, which are announced on the website www.dailesaukcionas.lt.

The Concepts and Definitions Used in the Terms and Conditions:

The Auctioneer – the Auction of fine arts “ARKADIJA” (hereinafter, the Auction), company name: “Kaligrafija”, UAB, Savanoriai av. 284A-4, Kaunas, company code: 300119121.

The Administration – the auctioneer and other individuals, responsible for organizing and conducting the Auction.

The Auction – a sale of artworks and other objects through a public event and on the internet, when the number of potential Bidders is not limited and the right to purchase an artwork or another object goes to the highest Bidder.

The Object of the Auction – artworks and other objects, which are not prohibited by the laws of the Republic of Lithuania and which are offered by the Auctioneer for purchasing. An artwork or other objects are offered as on Object. Each Object of the Auction has its number, i.e. a lot.

The Bidder - an adult natural or legal person (auction property owner (the Seller) and a buyer of an object) who has registered to participate in the Auction in accordance with the rules and has signed an Agreement with the Auctioneer. The Bidder must have with him / her the ID card and must show it on Auctioneer’s request.

Deposit made by the participant of the auction - an amount of money, which is paid by the participant of auction, which has has been registered and participated in the previous auction, but have not submitted a price for any object sold in the auction. 

 

The Bidder’s Representative – a person who physically represents the Bidder during the Auction or represents the Participant by offering the price on the Auction’s website. The Bidder’s Representative must submit to the Administration of the Auction his / her ID card and the Bidder’s written authorization to represent him at the Auction as a Buyer.

Participation in the Auction – all actions granting the rights and creating the obligations to the Bidder. A failure to execute the aforementioned rights and obligations may be subject to civil liability by current legislations and these Terms and Conditions.

The Auction Winner – a Bidder who has bid the highest price for an artwork (s) or other objects.

The Auction Protocol – a register of all the sold artworks with the Final Prices and the Buyer indicated.

The Bidder’s Number - the numbered bidding paddle that the Bidder raises when bidding.

Bidding at the Auction or on the internet – a price offer made by a Bidder for a certain object at the Auction, which binds the Bidder to buy the aforementioned object, if no other Bidder offers a higher price. A bid can be made during the Auction or online, by a registered user (personally or through an authorised person) until the start of the Auction. If no higher price is offered during the Auction, the object goes to the highest online Bidder.

The Increment – interval of a bid, which shows the increase in price for an artwork or another object on sale at the Auction.

The Catalogue – the description of art works presented at the Auction, indicating the author, title, year of creation, measurements, starting price and other data. The catalogue of objects at the Auction is available at www.dailesaukcionas.lt section “All Auctions” or can be downloaded as PDF.

The Starting Price – initial price, announced at the Auction for bidding on a specific work of art or another object.

The Accepted Price (“Hammer price“) – the highest price offered during the Auction (during the actual event or online) by the Bidders, recorded by a stroke of hammer and registered in the Auction Protocol. The Accepted Price consists of the bid approved by the stroke of a hammer and the Auctioneer’s margin (indicated in the paragraph 4.2). VAT does not apply here. The Auctioneer is not a VAT payer.

The Reserve Price – a certain price set by the owner of an art work or another object (higher than the starting price). If this price is not reached, the work of art is considered unsold. It may be confidential.

A Sale outside of the Auction (“Buy It Now”) – the sale of an object in between Auctions, based on an agreement with the owner of an object, if the art work or another object was not sold during the Auction or could be sold until the Auction. The object being sold in between the Auctions is marked as “Buy It Now” in the online catalogue. The taxes payed by the buyer are indicated in the description of a specific object.

The Certificate of Authenticity – an official document of an artwork, submitted for the Auctioneer, which indicates its title, author, year of creation, technique, measurements, state, signatures and other information, important for its identification.

2. Conditions for Participation

2.1. Natural and legal persons are allowed to participate in the Auction and buy its objects. Natural persons, must be at least 18 years old. A buyer participates in the auction in person, by phone, through an authorised individual, or having filled in a form for a non-participating buyer. The Bidder must submit the ID card on Auctioneer’s request.

2.2. The Bidder, participating in the Auction as a potential buyer, must submit detailed and correct information about himself / herself, during the registration. A detailed list of data is provided in the registration form, which must be filled in when registering. In the event of a faulty, inaccurate, misleading or missing information, the Auctioneer shall immediately annul the registration and limit the possibility to participate in the auction.

2.3. A Bidder, who wants to participate in the Auction by phone, must indicate the numbers of the objects he / she would like to compete for when filling in the registration form, as well as to indicate the phone number, so that the administration could contact him / her during the Auction. Bidding by telephone is permitted only for those lots, the Starting Price of which is at least €400. The Auction House is not responsible for the problems with phone connection. If the phone number is registered outside Lithuania, or if the Bidder is outside Lithuania, he / she must cover the phone connection expenses.

2.4. A Bidder who wants to participate in the Auction without being physically present in the hall (hereinafter - an Absent Bidder) must indicate in the registration form, in addition to the general information provided, the artwork (s) that he / she wants to buy and the highest Accepted (Hammer) Price he / she is willing to pay for the aforementioned artwork. The Auction House gives a number to the Absent Bidder at its own discretion, for the purposes of record keeping,

2.5. The participant of the auction who has been registered and participated in previous auctions but has not submitted a price for once for any object sold in the auction, must pay a deposit of the participant of auction of 50,00 EUR at the time of the following auction. The deposit of the participant of the auction is included into the price of purchase of the auction object or if it exceeds the purchase price of the object of the auction with auction fees - the corresponding part is being returned to the participant of the auction. In case if the participant of the auction does not offer a price for any object of the auction, the deposit is not being returned.

2.6. The registration form may be filled in by downloading it from www.dailesaukcionas.lt. section “Participant’s Registration” or sending a signed and scanned catalogue form by e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.. The registration form can also be filled in by arriving at the Auction House, during the exposition of Auction objects or before the beginning of the Auction. Registration forms sent electronically must be received at least four hours before the start of the Auction. The registration at the Auction location ends fifteen minutes before the Auction begins.

2.7. The Auctioneer is responsible for the confidentiality of the registration data. The information provided during the registration will not be transmitted, transferred, or disclosed otherwise to any third parties, except as required by law.

2.8. A Bidder has a right to examine the art works at pre-Auction viewing and assess their state and authenticity. The Bidders may consult on purchasing the art works with the art experts of their own choosing. The Bidders must assess the state of an artwork until the start of the Auction. After a purchase has been made, the Auction House does not accept any complaints concerning the Works of Art that have been bought.

2.9. After the registration, before the start of the Auction, a Bidder receives a Bidder’s number (a card), which is used to make bids for an object on sale at the Auction.

2.10. The owner of an art work or another object on sale at the Auction, warrants by presenting an art work or an object for sale, that the aforementioned objects are legally owned, inherited or created by him / her, are not under hypothecation or mortgage, are not arrested or fake, and is held responsible for the data being correct and for the authenticity of an artwork. The owner warrants, that he / she is a sole owner or inheritor of an art work or an object on sale at the Auction.

2.11. The Auctioneer holds the right to eliminate an object from the Auction at any time if it becomes known until the start of the Auction that the artwork is fake, plagiarized, falsely attributed, the authenticity of work or the owner’s right to submit it for sale is in question, or if it becomes known that the art work was acquired illegally, is owned by third parties, is under hypothecation, arrested, belongs to more than one owner, is considered to be missing or stolen or is the subject to judicial proceedings.

2.12. The order and conditions of admission of art works and their sale at an Auction, set out by the Art Auction “Arkadija”, are mandatory for all the participants (owners of art works and bidders). By signing the registration form for Purchasing the objects at the Auction / Agreement on Mediating in Sale of an Auction Object, a participant irrevocably confirms that he / she has read the “Rules on Sale of the Auction Objects”, understood their content and consequences, accepts them unconditionally , and has no comments or claims for their obscurity or inaccuracy. A Bidder confirms the “Sale of the Objects at the Auction” by signing the registration form.

2.13. By purchasing an object of the Auction, the Bidders agree, that the Auction photos are used indefinitely for the statistics of the Auction sales price index, databases of the Auction as well as the publications of scientific and educational nature.

2.14. Bidders must examine the objects and their state until the start of the Auction, may consult the respective experts and rely on their recommendations about making a purchase. After a purchase has been made, the Auction House does not accept any complaints concerning the Works of Art that have been bought.

3. The Auction Procedure

3.1. The Auction is held at the location and time set by the Auction House and indicated in the Catalogue and on the website of the Auction House www.dailesaukcionas.lt

3.2. The Auction House provides an opportunity for all interested persons to view all the Works of Art at a pre-Auction viewing, at least two business days before the Auction or earlier, having agreed on the time of the visit in advance. Registered Bidders may receive a free consultation from the Auction House specialists concerning the objects to be auctioned. An appointment for an individual consultation must be made by calling one of the phone numbers indicated on the website of the Auction House.

3.3 The Auction starts at the designated time. During the Auction there may be a 30 minute brake.  

3.4. The Auctioneer briefly presents each artwork (artist, title, year of creation, measurement, technique) and announces its Starting Price. The Starting Price for an artwork may be increased by the following increments:

€10 –           €99: by increments of   €5;

€100 –       €249: by increments of   €10;

€250 –       €999: by increments of   €20;

€1,000 –    €2,999: by increments of   €50;

€3,000 –    €4,999: by increments of €100;

€5,000 –    €9,999: by increments of €200;

€10,000 –  €29,999: by increments of €300;

€30,000 – or more: by increments of €500.

3.5 When the Auctioneer announces the Starting Price or an Increment, a Bidder must clearly raise his bidding paddle with the number facing the Auctioneer and loudly announce his bid.

3.6. The Auctioneer repeats each bid made. When none of the Bidders makes a higher bid, the auctioneer announces the final, highest bid made, the number of the Bidder who made it, and repeats the amount of the bid three times with a stroke of his hammer. This price is the Accepted Price. After the stroke of the hammer, the artwork is considered sold, and the Accepted Price and the number of the Bidder who made it are recorded in the Auction Protocol.

3.7. While the artworks are being auctioned, employees of the Auction House work as representatives by phone of the Absent Bidders, who have filled out the relevant registration form

3.8. If a disagreement arises between the Bidders (regardless of whether or not they are physically present at the Auction) the Bidder who is physically present during the Auction has the right of pre-emption.

3.9. If several persons who filled in the Absent Bidder form make the same bid for the same Work (lot), priority is given to the Bidder who filled out the form earlier, determined by the date and time of the registration form.

3.10. If a Buyer fails to pay to the Auction House in a timely manner, this object may be sold to the next highest Bidder.

3.11. The shortening “reserv.” provided in the catalogue, next to the price of an artwork, means that there is a confidential Reserve Price. If this price is not reached during the Auction, the Work is considered unsold.

3.12. After the Auction has ended, the Bidders must return their bidding numbers to the Auction Administration.

3.13. At its discretion, the Auction House may introduce or revoke a ticket system for admission to the Auction event and set the ticket prices.

4. Payment

4.1. Immediately after the Auction, the Bidder who has bought an artwork must go to the table of the Auction administration and get the invoice issued to him / her. The payment can be made in cash or by bank transfer, at least 5 calendar days after the day of the Auction. The bank account number and details of the buyer are registered at the Auction protocol.

4.2. For each Work of Art sold, the Auction administration issues a prepayment invoice or VAT invoice, depending on the manner of payment, (in two copies) that indicates the number of an art work, its title, and the price to be paid, which consists of the Accepted Price and the Auction House margin (VAT excluded) and is calculated to the objects which are sold for the “Hammer Price”:

up to € 5000,00 - 18%;

from 5001,00 to 10000,00 - 16%,

from 10001,00 and more - 14%.

4.3. When the payment is made in cash, the object bought at the Auction is handed to him / her. The Certificate of Authenticity is prepared in 5 working days.

4.4. When the payment is made by bank transfer, the artwork is given to the Buyer after the money has been credited to the settlement account of the Auction House. The bank transfer invoice must indicate the Buyer’s first and last name or the name of the company as well as the title or lot number and the prepayment invoice number of the artwork acquired.

4.5. Invoices for Absent and Telephone Bidders are sent by e-mail on the next working day. The invoice must be paid by bank transfer within five calendar days (including the day when the invoice was received by e-mail). Failure to pay within 5 days of unpaid amounts are calculated on 0.5% default interest for each day of delay.

4.6. The Buyer must collect his/ her artwork from the Auction House within three working days after the payment was made. If the Buyer fails to collect his artwork within the indicated period, he / she will be charged for storage of the artwork – 0.2% of the Purchase Price of the artwork per day.

4.7. If the Auction House has made an agreement to deliver the artwork to the Buyer, it must be dispatched within three working days after the payment has been credited to the settlement account of the Auction House. The Auction House will charge an additional fee for delivery. This amount includes all applicable costs for packing, transportation, customs, and insurance during the transportation (if applicable).

4.8. If a Buyer fails to pay the Auction House in a timely manner (within five working days after the Auction) for the artwork he / she has acquired, the Auction House has the right to apply to a debt collection agency or to a court to defend its violated rights according to the procedure prescribed by law. The unpaid amount is regarded as debt and is collected by a Debt Collection Agency or by using other means provided by the laws of the Republic of Lithuania.

4.9. If a Buyer fails to pay to the Auction House in a timely manner, he / she loses all rights to the object purchased during the Auction and the right to participate in Auctions held by the Auction House for an unlimited period of time. In such an event, the organizer may offer this object to another highest bidder.

5. Dispute Settlement

5.1. All disputes shall be resolved in compliance with the laws of the Republic of Lithuania.