ANAA Terms & Conditions
The following articles are part of the terms and conditions from America National Artwork Auction, INC. The concerning bidder and the buyer shall read carefully and agree the terms and conditions from America National Artwork Auction, INC.
Catalogue of Lot;At the auction, the Company will prepare a catalogue to introduce the status of the Lot with words and/or pictures for the convenience of Bidders and Sellers. The words, Reference Price, pictures in the catalogue and other images and public materials are only references for Bidders and are subject to revision before auction. The Company provides no guarantee for the authenticity, value, tone, quality or for any flaw or defect of any Lot.
Uncertainty of Catalogue;In case that the tone, color, graduation and shape shown in catalogue and/or any other illustrations, images and public materials differs from those of the original Lot due to print, photograph and other technical reasons, the original shall take precedence.Any statement and appraisal in any way (including but not limited to the certificate, catalogue, status explanation, slide show and news media) of any Lot made by the Company and its employees or its agents are only for reference and should not relied on as any guarantee for the Lot. The Company and its employees or agents shall undertake no liability for any inaccuracy or omission in the statements and appraisals mentioned above.The publications quoted in any explanation of the Lot by the Company and its staff or its agent are only reference for the Buyer. The Company shall not provide the original or copy of such publications and other materials, and reserve the right to modify such quotation in explanation.
Inspection by Bidders;The Company especially declares that the Company cannot guarantee the genuineness or fakery or the quality of the Lot, and the Company shall not bear the liability for guaranteeing the drawbacks. The Bidder and/or his/her/its agents shall inspect and investigate the actual status of the Lot and take liability for his/her/its bidding.The Company strongly advises the Bidders to personally inspect the original Lot on which they intend to bid before the Auction Date by identification or other methods.Bidders shall judge the genuineness or fakery or the quality of the Lot by themselves rather than relying on the Company's catalogue, status explanation and other images and public materials of the Lot.
Registration of Bidders;The Bidder shall register, check-in and receive a paddle affixed with number before the Auction Date, in accordance with the condition and procedure for the paddle affixed with number as announced by the Company, with a valid identity card, or passport or other certificates approved by the United States of America and other materials required by the Company in the case of a natural person, or with a valid certificate of registration, ID of legal representative or other legal authorization certificates and other materials required by the Company in the case of a legal entity or other organization.
Paddle Affixed With Number;The Company will announce the condition and procedure to deal with the paddle affixed with number by the Bidder before the Auction Date, including but not limited to require qualifications of the Bidder for the paddle affixed with number, in accordance with different conditions and manners of auction.The Company seriously notices that the paddle affixed with number is the only evidence of the Bidder's participation in bid. Each Bidder shall take good care of his or her paddle affixed with number and may not lend it to any third person. In case of losing such paddle, the Bidder shall go through the procedure for report of losing in the form of writing agreed by the Company.The person holding the paddle is deemed to be the registered owner of the paddle, whatever he/or she is entrusted by the Bidder or not. The Bidder shall be liable for using his or her paddle bid in the auction process, unless the Bidder goes through the procedure for report of losing in the form of writing agreed by the Company and such paddle affixed number has been cancelled by the auctioneer's announcement in the auction process.
Guarantee Money;The Company will charge a guarantee money before the Bidder receives paddle affixed with number. The amount of guarantee money will be announced before Auction Date. The Company will refund all the guarantee money mentioned above with no interest to the Bidder within five working days after auction in case that the Bidder fails in auction. In the event that the Bidder becomes to be the Buyer, the guarantee money will automatically turn to be deposit as part of the Purchase Price payable by the Buyer.
The Company's Option;The Company may forbid anyone from participating in auction, admission to the premises, taking a picture, making a sound recording or making a video recording during auction, as the case maybe.
Abnormal Events;In case of any abnormal events affecting the success of the auction process, the Company has the right to take necessary actions as the case may be, even terminate the auction process. In the case that any dispute arises at auction, the Company has right to mediate and settle.
Bidding as Principal;Any person who bids shall be deemed as principal, unless the Bidder represents to the Company a written certificate showing that it is the agent of a principal and is also subject to the Company's approval in written form before Auction Date.
Authorized Bids;The Bidder shall attend the auction personally; otherwise it may give the Company an authorization in writing to bid on his/her/its behalf. The Company shall have the right to but no obligation to accept such authorization.The Bidder who intends to give the Company an authorization to bid on his/her/its behalf shall present the Company with a written authorization letter and hand in guarantee money in accordance with the provisions in Article 36 herein within certain period (not later than twenty-four hours before Auction Date).
The Bidder who entrusts the Company to bid on his/her/its behalf shall inform the Company of bid cancellation in writing not later than twenty-four hours before Auction Date.In the event that the Bidder entrusts the Company to bid on his/her/its behalf, such biding outcome and relevant liabilities shall be borne on the Bidder.
Non-liability of Authorized Bids;Since authorized bid shall be the free service on transferring the bid message on behalf of the Bidder provided by the Company to the Bidder, the Company and its employees shall not be liable for any failure in bidding or any negligence or fault in the authorized bids. Bidders shall attend the auction in person to assure the success of bidding.
Principle of Priority;In the event that two or more Bidders entrust the Company to bid on their behalf for the same Lot with the same authorized price, and finally succeed by dropping the hammer at such price, the Bidder whose authorization certificate was first delivered to the Company shall be the Buyer of the Lot.
Auctioneer's Discretion;The auctioneer is entitled to represent the Company and to increase or decrease the bidding ladder, refuse any bidding, or restart auction in case of any dispute arising.
Screen of Video Images;At some auctions, there will be a video screen or other screens in operation for the convenience of Bidders, which is only for reference. However, there may be errors in amounts, numbers or pictures of the Lot, or in foreign exchange rate on the screen. The Company shall not be liable for any losses and damages caused by such errors.
Successful Bid
When the highest bidding is confirmed by dropping the auctioneer's hammer or in other public manners, the Bidder with the highest bidding succeeds in the bid which means that the Bidder becomes to be the Buyer and the Buyer shall sign the writing confirmation/auction minutes.
Remuneration and Expenses;The Bidder will be deemed as the Buyer of the Lot after succeeding in bidding and shall pay the Company a remuneration equal to 15% of Hammer Price and other Expenses and acknowledge that the Company is entitled to charge commission and other costs payable by the Seller in accordance with Article 21 hereof.
Payment;The Buyer shall make full payments in a lump sum to the Company within thirty days after the Sale Date and take the Lot back. The Buyer shall also undertake packaging charges, cartage, transportation insurance premium and export appraisal fee (if any).
Currency;All payments shall be made in the currency designated by the Company.
Passing of Title;The Buyer will acquire ownership of the Lot after having paid the full Purchase Price.
Transfer of Risks;After a successful bid, any Lot purchased shall be entirely at the Buyer's risk as early as one of the following conditions is met:(1) the Buyer collects the Lot purchased; or(2) the Buyer pays to the Company full Purchase Price for the Lot; or(3) expiry of thirty days after Sale Date.
Collection;The Buyer shall collect the purchased Lot at the Company's domicile or other place appointed by the Company no later than thirty days after Sale Date. In case of failure to do so, the Buyer shall be solely responsible for all risks and losses of the Lot and bear all expenses for storage, cart and insurance in connection therewith due to delay. Nevertheless the Lot is still preserved by the Company or any other agents, the Company and its employees or its agents shall not be liable for any losses and damages of the Lot caused by any reason.
Package and Transportation;The Company may arrange packing and handling of the purchased Lot on behalf of the Buyer as the case may be on its request and the Buyer shall be liable for any loss arising from such arrangements. In no circumstances shall the Company take any liability for any damages or losses of glass, frames, drawer, bottom mat, trestle, mounting, insert pages, roller or other similar accessories arising out of any reason. In addition, the Company shall undertake no liability for any fault, omissions, damages or losses caused by the packers or carriers recommended by the Company.
Remedies for Non-payment;In the case that the Buyer fails to make full payment within the period provided in Article 47 herein, the Company shall be entitled to exercise one or more of the following remedies:(1) If following a successful bid the Buyer fails to make payment within the stipulated period under the Conditions, the Buyer will lose the right to request the Company to refund the guarantee money (the deposit) and the Company shall keep the guarantee money (the deposit) . Besides which, the Buyer shall also undertake any liability may occur in accordance with the Conditions; In the event that the Buyer fails to pay any one Purchase Price of the Lot on time according to the Conditions after successful bidding on several Lots with the same one paddle affixed with number, all of guarantee money (the deposit) shall not be refunded and the Buyer shall undertaker relevant responsibilities in accordance with the Conditions.(2) If within thirty days after a successful bid the Buyer fails to pay the Company the Purchase Price, the Company shall have the right to entrusting third party to collect all or part of the default payment from the Buyer;(3) charge the Buyer an interest at a rate of 0.3‰ per day on the due and unpaid amount from thirty-first day after Sale Date until such payment is made fully, to the extent it remains fully unpaid within thirty days after Sale Date, unless otherwise agreed by the Buyer and the Company;(4) commence lawsuit proceedings against the Buyer for any damages caused by the Buyer's breach of contract, including but not limited to the losses of interest on deferred or unpaid payment by the Buyer.(5) exercise a lien on the purchased Lot or other properties of the Buyer which may be in the Company's possession for any reason. The Buyer is responsible for all expenses or risks that occur during the period of lien. In case the Buyer fails to perform all relevant obligations herein within the period the Company designates, the Company shall have the right to dispose of such property in accordance with relevant laws and regulations. In the case the proceeds cannot cover the amount outstanding, the Company is entitled to claim the balance;(6) in the event that the Buyer does not make full payment to the Company within ninety days from the Sale Date, the Company is authorized to cancel or approve the Seller to cancel the sale of the Lot and/or other Lots sold to the same Buyer at this auction or any other auctions as applicable, and reserve the right to claim any losses caused by such cancellation.(7) carry out a re-sale of the Lot by public auction or other ways according to the Conditions subject to the consent of the Seller. The original Buyer shall be liable to the Seller for the remuneration/commission and other Expenses occurred at such auction as well as all Expenses for re-sale by public auctions or other ways. In addition, the original Buyer shall also be liable for the difference, if the Purchase Price actually received by the Seller for re-sale by public auctions or other ways of such Lot is lower than the original Purchase Price that would have been receivable therein had the Buyer made the full payments.
Remedies for Deferred Collection;In case the Buyer fails to collect the purchased Lot within the period provided in Article 47 herein, the Company shall be entitled to exercise one or more of the following remedies:(1) arrange storage of the Lot at the Company or any other places at Buyer's risk and expense(including but not limited to the Storage Fee according to the standard set forth in Article 2 (15) of the Conditions from thirty-first day after the Sale Date) . The Buyer shall not collect the Lot unless the full Purchase Price is paid (packaging charges, cartage, transportation insurance premium and export appraisal fee for which the Buyer is responsible) ;(2) The Seller shall take liability for any risk and/or loss that occurs after the period mentioned above in the case of failed retrieval of the Lot within the designated period. In the event that the Seller shall take back the Lot within ninety days after Sale Date in accordance with the Conditions, the Company has right to public auction or sell the Lot by a proper way and conditions. The amount, which is arising from forgoing disposal by the Company after deducting all loss, expense (packaging charges, cartage, transportation insurance premium and export appraisal fee, Storage Fee, notarization fee) incurred, shall be collected by the Seller with no interests.