- The auction house Soares & Mendonça, Ldª – Sociedade por Quotas de Responsabilidade Limitada – Registered in the C.R.C. Lisbon with the identification nº 14 826 – Share Capital of € 5.000,00 – Tax Number 500 412 227 – Owner of the license from DGAE to practice the auctioneer activity 17/04/2018 – Liability Insurance Policy: HISCOX (€ 200.000,00) Nº 2534290 – Legal Representative: Paulo Fernando de Moura de Jesus Henriques (NIF: 204855446) – considers that the Buyer is someone who bids and wins a lot for the highest bid, being the auctioneer the one responsible to decide the amount in which the increments progress throughout the bidding process as well as to clarify any question that might occur, including the withdraw of any lot from the auction or placing it back on auction for the amount in which the question have arisen so that it can be disputed among the previously mentioned bidders on the last bid, to bid more than one lot together or to split a lot.
- This Auction House is very grateful to all of those whom deign to watch the auction and provides the means to bid on the behalf of the potential buyers as well as to take the reasonable efforts to reach them by phone, in order to allow their participation, through that mean, on the bidding of one or more previously determined lots, as long as the Buyers express their will until the 12:00 hours of the day of the said auction session. Either the placing of absentee bids, as well as the phone bidding and the online bidding are confidential and courteous, so all the reasonable efforts in our reach will be taken for their correct and timely practice, thus exempting us from being held accountable for any negligence, lack or omission that might occur in its execution. In making a call request, the Buyer acknowledges before Soares & Mendonça, Ldª the offer of the first bid of the intended lot(s) corresponding to the base price of the said lot accordingly to what is listed on the catalog.
- The owners of the furniture and objects placed at auction and the Auction House Soares & Mendonça, Lda. – acting as an agent – exchange all the lots in the place and status in which they presented and after being won complains or purchases nullifications won’t be accepted, including possible defects, errors of description, genuineness or authenticity that can be clarified on the act of winning.
- The identification of the lots in the Catalogue is done according to the following criteria:
- SIGNATURE (Full name, birth date – possible death date) Biography: » Means that, in our opinion, the item corresponds exactly to the mentioned artist.
- SIGNATURE (without any name indication, dates or biographies): » Means that, although we mention the name present in the item, we cannot identify the artist.
- ATRIBUTED TO: » Means that, in our opinion, the item, even though it’s not signed, would most likely belong to the mentioned artist.
- SIGNATURE (Complete name ?): » Means that we’re not sure that the item belongs to the mentioned artist.
- SIGNED: » Means that the item is signed but we don’t know who is the artist neither we have any biographic information about the person.
- It’s given the maximum time limit of 30 days counting from the last auction day for any complaint and/or devolution of items whenever properly reasoned and justified.
- The Buyers commit themselves to deliver on the act of winning the lot a caution that’s no less than 30% of the purchases’ value.
- During the auction period the pickup of the won lots should be done during the morning (from 9:30h to 12:30h) of the following day, with advanced booking being of convenience. There won’t be made any deliveries during the auction. After the end of the auction, the payment and picking up of the items should be done on the following day, from 9:30h to 12:30h and from 14:30h to 17:30h, being the maximum acceptable period of ten working days counting from the winning to the payment and picking up of the lots. At the end of this period a storage fee will be charged = € 6,15 / day with VAT included.
- Besides the hammer price there’s a Buyer’s premium, with VAT included, of 19,68%.
- The ownership of the assets is only transferred to the Buyer once the final sum is paid to the auction house Soares & Mendonça, Ldª. In case the payment isn’t settled in cash, the payment is only considered upon receipt of the sum in question, no matter if the lot is already on the Buyer’s possession.
- The picking up and shipping of the lots is full responsibility of the Buyer, being mere courtesy provided by Soares & Mendonça, Ldª any sort of help from an employee or an eventual indication of a company or a person to do the shipping, thus rendering us unaccountable over the shipping process.
- In case the Buyer doesn’t comply with his obligations regarding payment and picking up of the lots, the company Soares & Mendonça, Ldª has the right to refuse or ignore any bid from the said user in their upcoming auctions.
- It’s chosen the Lisbon Court to settle any dispute that might occur regarding the actions of Soares & Mendonça, Ldª
- When delivering the items for auction, the Seller will sign a document where it’s implied that he guarantees to the company Soares & Mendonça, Lda. that he’s the rightful owner and possessor of the described items or that he’s legally authorized by the owner to sell them, while having the duty to inform about the possible inventory or listing of the possessions by the official authorities, being obliged to deliver the lots or keep them at disposal of Soares & Mendonça, Lda. whenever they could be requested.
- In that document all the items that the Seller wants to be auctioned by Soares & Mendonça, Lda. will be described, with the respective value agreed by both parties to be the start bidding price. If he wants to withdraw any item he will be charged 10% of the agreed starting price. In case the Seller wants to increase the agreed starting price or, not accepting the appraisal done by Soares & Mendonça, Lda., he wants to auction the item(s) by a value established by himself, this will be considered as a bid in the Seller’s favor, in which he’ll be considered the winner of the item in case the maximum auction bid didn’t surpass his intended pricing.
- The shipping and deposit of the items in our space, as well as their respective pickup and shipping in case they are not sold, are at the entire responsibility of the Seller, being a simple courtesy by Soares & Mendonça, Lda. any sort of help from their employees or eventual indication of a company or person for the shipping process, therefore it’s not possible for us to be held accountable for the mentioned process.
- Before the auction, a catalog will be made where every auction lot will be listed. Depending on the value and/or art category of the items, Soares & Mendonça, Lda. is therefore authorized by the seller to depict the said lots in the mentioned catalog and/or in the auction house’s website and/or in the online platform Bidspirit, as well as being deduced to you in the total sales amount the value of €10,00 (ten euros) for each depicted lot, being the choice of the items to depict in the catalog and/or website and/or online platform at the entire criteria of Soares & Mendonça, Lda.
- In the auction the sale will only be considered once the payment is done by the winning bidder.
- Besides the hammer price there’s a variable commission accordingly to the sales volume, such as:
- 20% on sales until € 1.000,00
- 18% on sales from € 1.001,00 to € 3.000,00
- 16% on sales from € 3.001,00 to € 6.000,00
- 15% on sales from € 6.001,00 to € 10.000,00
- 14% on sales from € 10.001,00 to € 20.000,00
- 12% on sales from € 20.001,00 to € 50.000,00
- 10% on sales starting at € 50.001,00
- Administrative expenses: € 1,00 (one euro) per lot, including unsold ones.
- Above all previously mentioned values are subject to the applicable legal VAT rate.
- The payment is done 30 days after the last auction day, except in the cases where the term 5 haven’t been fulfilled, being of the seller’s responsibility to reach Soares & Mendonça, Lda.
- In case of unsold lots, the Seller agrees that the items are auctioned again with the following price reduction: Online auctions – 10%; Live auctions – 25%.
- If the document is sent to the Seller by mail, Fax or e-mail, beyond the period established on the term 2 it’s considered that the Seller accepts the lot descriptions, the values set as start bidding price and the mentioned seller’s terms.
- It’s chosen the Lisbon Court to settle any dispute that might occur regarding the actions of Soares & Mendonça, Lda.
