These Business Terms and Conditions apply to online auctions of movable property organized by the commercial company Praças Abstratas, Lda., through the auctioneer TAGUS Art Auctioneers, hereinafter referred to as TAGUS, with a commercial establishment on TV. do Convento de Jesus, 16-A,Lisbon - Portugal.
I. GENERAL PROVISIONS
Article 1 - Framework
TAGUS governs its activity in accordance with the provisions of Decree-Law no. before each auction is held.
Article 2 - Functioning of the Auctions Website and Catalogs
1. TAGUS organizes online auctions on the website tagusart.com , where catalogs with photographic images and description of the goods that make up each lot for sale are available in digital version.
2. The visualization of the photographic images of the lots in the catalogs does not exempt the direct observation of the goods represented there in the premises of TAGUS, during the opening hours, with the objective of checking the conformity of the property reproduced in photograph with its original.
3. The description of the goods contained in the catalogues, including their nature, authorship, origin, period, state of conservation and materials, must be understood as an opinion of TAGUS, not replacing an individual assessment of the interested party on these aspects.
4. In the online auctions that it organizes, TAGUS may allow the participation of registered users on other platforms managed by third parties, such as the international online platform Drouot and others.
5. TAGUS does not control or guarantee that the use of the online auction platform by registered users is in accordance with these Terms and Conditions, so it cannot be held responsible, under any circumstances, for damages. that derive from incorrect use of the same by registered users.
6. The platform provided by TAGUS for conducting online auctions operates in an automated manner, so TAGUS cannot be held responsible for any damages arising from any technical failures or malfunctions of the website, which affect registered users.
7. In the event of a website malfunction in an online auction, TAGUS may, without being obliged to do so, repeat the affected auction or replace the affected goods in a new auction.
Article 3 - Personal Data
1. TAGUS is the entity responsible for processing personal data provided by Sellers and Buyers under the terms of applicable legislation, namely Regulation (EU) No. of 27 April (General Data Protection Regulation) and Law No. 58/2019, of 8 August.
2. The personal data provided by the Seller or the Buyer is processed by TAGUS to comply with legal and contractual obligations, as well as for information and advertising purposes inherent to TAGUS' auction activity.
3. The Seller or the Buyer expressly consent to the processing of their personal data provided for the purpose stated in the previous number.
4. Seller's or Buyer's personal data collected by TAGUS are confidential and cannot be provided to third parties, unless the holder's express consent.
5. The Seller or the Buyer have the right to access their personal data, and may request their alteration, rectification or deletion, through the tagusart.com website , by email to the address
[email protected] or by registered letter, with acknowledgment of receipt, to the address of TAGUS, on TV. do Convento de Jesus, 16-A,Lisbon - Portugal.
II. CONDITIONS RELATING TO SELLERS
Article 4 - Contract
1. Between TAGUS and the Seller, a contract for the provision of services, hereinafter referred to as contract, is mandatory.
2. The contract is in writing and must include the following elements:
a) Identification of TAGUS with indication of its registered office, legal person number, name and tax identification number of its legal representatives;
b) Identification of the Seller and, if applicable, of its representative with powers for the purpose, mentioning the name, residence, civil identification number and tax number of the taxpayer;
c) A summary description of the goods to be put up for auction;
d) The base value of each good, that is, the minimum sale value of the good agreed by the parties;
e) The commission owed by the Seller to TAGUS for the sale of the goods;
f) The detailed identification of other services to be provided by TAGUS, such as cataloging, insurance, cleaning, restoration, certificates or other documents required by law;
g) The Seller's or its representative's declaration of knowledge and acceptance of these Terms and Conditions.
3. The contract lasts for an indefinite period, ending with the payment of the bill of sale or the return of the goods to the Seller by TAGUS, as the case may be.
4. The term of the contract may also terminate:
a) By mutual agreement;
b) In the cases expressly provided for in these Terms and Conditions;
c) By unilateral resolution with just cause.
Article 5 - Amendments to the Contract
The contract can be changed by mutual agreement and in writing, without prejudice to TAGUS being able to modify the description and/or increase the base value of the goods included in the contract, as well as freely establish the number of goods to be placed in each lot, in the catalog where those goods will be included.
Article 6 - Seller's guarantees and obligations
1. The Seller guarantees to have the capacity and legitimacy to contract and, in particular, to be the owner and legitimate owner of the goods, that they are free of liens, charges or restrictions, determined by administrative or judicial entities.
2. If, during the term of the contract, the Seller is notified or in any way becomes aware of a procedure aimed at creating encumbrances, charges or restrictions on the goods or that any third party arrogates a right over them, it must inform TAGUS of this fact. , immediately and in writing.
3. The Seller undertakes not to withdraw the goods consigned for sale at auction, after the date of signature of the respective contract.
4. In the event that the goods do not remain in the possession of TAGUS, the Seller assumes before the latter and the Buyer the obligation to make the goods available to the Buyer as soon as he requests it.
5. TAGUS reserves the right to request, at any time, the presentation of documents proving ownership of the goods to the Seller.
6. The Seller assumes the obligation to indemnify TAGUS, its representatives, workers or collaborators, as well as the Buyer, for any damage or loss they suffer as a result of non-compliance with the provisions set out in the previous numbers.
Article 7 - TAGUS liability for the deposit. Safe
1. Unless otherwise stipulated, TAGUS is only responsible for the goods deposited in its facilities, which are covered by a contract duly signed by the parties under the terms of article 4, or which have been formally entrusted to it for the purposes of evaluation, or other .
2. TAGUS' liability for any loss or damage, including theft or robbery, that may occur in goods covered by the contract and/or goods that have been formally entrusted to it, is covered by insurance, under the following terms:
a) In the case of goods covered by contract, at the base value;
b) In the case of goods formally entrusted, for valuation or other purposes, at the valuation value fixed unilaterally by TAGUS.
3. All goods insured by TAGUS have a deductible of 1% on the base value per claim, so any claims that occur will always have the aforementioned deductible.
4. The insurance is valid until the ownership of the goods ceases to belong to the Seller or until the Seller must proceed with their collection.
5. TAGUS cannot, under any circumstances, be held responsible for damages resulting from the simple handling of goods in a poor state of conservation.
6. If the goods are not sold and the Seller does not collect them within the established period, after this period the Seller will be solely responsible for the goods and TAGUS or any of its representatives, workers or collaborators cannot be held responsible for any loss. or damage, including by way of negligence.
Article 8 - Seller's liability for possession
Any loss or damage, including theft or robbery, that occurs in an item while it is in the Seller's possession, even after signing the contract, is entirely and exclusively his responsibility, and he is obliged to indemnify TAGUS and/or the Buyer for all damages and losses suffered.
Article 9 - Seller's responsibility for transport
The transport of the goods for storage at TAGUS facilities, as well as their subsequent collection and transport in case of non-sale, is the sole responsibility of the Seller.
Article 10 - Sale of goods subject to special regime - Contrastaria and CITES
1. Goods made up of precious metals put up for sale by TAGUS comply with the provisions of the Legal Regime for Goldsmiths and Assayers (RJOC), approved by Law no. 98/2015, of 18 August, amended by Decree-Law no. of September 15, and other applicable legislation, and must be duly verified whenever legally required.
2. It is incumbent upon the Seller to present the goods made of precious metals duly contrasted by Imprensa Nacional-Casa da Moeda, SA (INCM), before being put up for auction, whenever required by law.
3. Goods that incorporate materials from protected wild fauna and flora species, offered for sale by TAGUS, must be previously certified in accordance with the provisions of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) , ratified by Portugal in 1980, and Decree-Law no.
4. It is incumbent upon the Seller of goods that incorporate materials from protected wild fauna and flora species, such as ivory, turtle or coral, among others, to present the respective certificate issued by the Institute for the Conservation of Nature and Forests (ICNF), before the their placement at auction, whenever required by law.
5. If agreed between the Seller and TAGUS, the latter may deal with the procedures with the INCM and/or ICNF, as the case may be, and the Seller undertakes to deliver and sign the necessary documents, as well as to pay TAGUS the corresponding expenses in accordance with the price list in force.
Article 11 - Organization of lots
TAGUS is responsible for organizing the list of lots for sale at auction, with photographic images and the respective base value, each lot being able to include one or more of the Seller's goods.
Article 12 - Sales account
1. The bill of sale is sent by TAGUS to the Seller and summarizes the result of the lots put up for auction.
2. In case of sale of the lot, the Seller authorizes TAGUS to deduct from the sale price:
a) The sales commission due to you under the contract, plus VAT at the legal rate;
b) The amount of services and other expenses provided for in the contract, plus VAT at the legal rate.
3. In case the lot is not sold, at the end of the contract, TAGUS debits the Seller only the amount of the services and other expenses foreseen therein.
Article 13 - Compensation
If the Seller owes TAGUS any amount as a Buyer of other goods, he expressly authorizes TAGUS to deduct this amount from the sales account, thus offsetting the existing credits.
Article 14 - Settlement of the sales account
1. In the case of sale of the lot(s), TAGUS pays the sales bill to the Seller, monthly, between the 25th and 30th of each month, except as provided in the following number.
2. If the Buyer fails to pay the lot(s) within the established period, payment for the sale to the Seller will take place within 5 (five) business days from the date on which that amount is actually received by the TAGS
3. In the event of non-compliance by the Buyer, TAGUS shall decide together with the Seller the most appropriate course of action to take to obtain payment from the Buyer.
4. If, in the specific case, it is not possible for TAGUS to obtain instructions from the Seller regarding the conduct to be adopted, the Seller expressly authorizes TAGUS to seek to agree special conditions for payment of the amount owed, remove, store or insure the lot sold, resolve withholdings made by or against the Buyer in the terms it deems most convenient for the collection of amounts owed by the Buyer to the Seller and, if necessary, proceed with the termination of the contract, return amounts to the Buyer or adopt any of the measures provided for in Article 29.
Article 15.º - Original work of art. resale right
1. If the good sold constitutes an original work of art, the author of the work, other than the Seller, is entitled, under the terms of article 54 of the Code of Copyright and Related Rights (as amended to given by Law no.
2. In this case, the payment of the participation is the responsibility of the Seller of the original work of art, who undertakes to withhold such amount and deliver it to the author or, as the case may be, to the author's heirs, at their request or of those who validly represent them.
3. In the event that the author of the original work of art, his heirs or whoever validly represents them, contacts TAGUS with a view to paying the participation referred to in this clause, TAGUS will provide information on the Seller's contact details and the terms under which processed the sale, so that the author can exercise his legal right against him.
Article 16 - Goods not sold
1. In the event of non-sale of a lot, and after receipt of the respective sales account, the Seller must choose, within 7 (seven) days after notification, to:
a) Accept the replacement of the unsold lot, in a subsequent auction that TAGUS will carry out, with a minimum sale value 25% below the base value, up to a limit of 3 (three) attempts; or
b) Proceed with the collection of the lot upon payment of the expenses due under the terms of the contract, without the right to any compensation or indemnity for the fact of not selling the good.
2. After the third unsuccessful attempt to sell under the terms of subparagraph a) of the previous number, the Seller must collect the unsold goods under the terms of article 17.
3. In the silence of the Seller after the notification provided for in paragraph 1, TAGUS will proceed in the order indicated therein, replacing the good for sale in subsequent auctions and, in the event of the third unsuccessful sale attempt, the Seller undertakes to proceed with the collection of the asset, terminating the contract entered into with TAGUS.
Article 17 - Deadline for withdrawing unsold goods
If the Seller chooses to proceed with the collection of the unsold good, it must do so at TAGUS' premises, within 15 (fifteen) days from the date on which it communicates its decision to TAGUS.
Article 18 - Sale outside of auction
1. TAGUS reserves the right to proceed with the sale of a lot withdrawn from the auction due to lack of bidding, for the agreed base value, at any time, until effective collection of the good by the Seller, unless the Seller expressly indicates in the contract that only intends to sell the good at auction.
2. For sale, under the terms of the previous number, the conditions of sale established in the contract apply.
Article 19 - Failure to comply with the withdrawal period
1. After the period referred to in article 17 has elapsed and the good has not been collected by the Seller, title to the good is considered to have been reversed, for all legal purposes, and the Seller is liable for loss or damage, including theft. or theft, which may occur in the property, and from that date neither TAGUS nor its representatives, workers or collaborators can be held responsible for this eventuality.
2. The Seller will also be responsible for all costs of removal, storage or insurance of the good that may be incurred, in accordance with the prices in force.
Article 20. Examinations and Expertise
1. TAGUS reserves the right, at any time, to carry out or have examinations and/or expertise carried out on the property, in order to verify the respective description contained in the contract.
2. In the event that such examinations or assessments allow concluding that the contract is not materially correct, TAGUS may denounce or resolve it and, in the event that the Seller acted with intent or gross negligence in the negotiation and conclusion of the contract , must indemnify TAGUS for the damages and losses suffered by it, including image damage in case the sale of the good has already been advertised; TAGUS may also terminate the contract with immediate effect, in a reasoned manner, without the Seller being entitled to any compensation, in the event that such examinations or expert opinions are not conclusive but, even so, TAGUS has well-founded doubts about the material correction of the contract.
Article 21 - Default by the Seller
In the event of failure by the Seller to comply with its obligations arising from the contract, including, in particular, the obligation to make the good available to TAGUS, the latter may notify the Seller to remedy the breach within a reasonable and useful period, after which, if the situation of non-compliance persists, TAGUS will have the right to terminate the contract with immediate effect, being also entitled to claim from the Seller, as a penalty clause, an amount corresponding to the commissions that would be due by Seller and Buyer in case of sale of the good by the base amount stipulated in the contract, plus any other amounts owed by the Seller under the contract and without prejudice to any excess damages.
III. CONDITIONS RELATING TO BUYERS
Article 22 - Online registration
1. In order to register on the TAGUS website - www.tagusart.com - and bid on the auctions, the potential Buyer must be of legal age, and must fill in the fields relating to his/her name, address, tax identification number, telephone contact and e-mail, and declare to know and accept the present Business Terms and Conditions.
2. The password and other means of authentication defined when registering on the TAGUS website must be kept confidential by the user, who will be responsible for any unauthorized access to the respective account.
3. TAGUS reserves the right to suspend or cancel the registration, or ignore any bid, of anyone who has not fulfilled their obligations in previous auctions, namely payment and withdrawal of purchased lots, or to anyone who has provided false information. or incorrect.
4. The user can cancel the registration at any time, by sending an email to
[email protected].
Article 23 - Proof of identification
TAGUS may request, at any time, the presentation of a valid and valid identification document to the potential Buyer.
Article 24 - Requirement of guarantee
TAGUS also reserves the right, at the time of registration or at a later time, to ask any potential Buyer to present a guarantee that TAGUS deems reasonable, both in terms of form and amount.
Article 25 - Bidding. Purchase
1. Bids with a value equal to or greater than the base value of each lot are accepted.
2. Online bids for a given lot are automatically executed by TAGUS at the best value allowed by any other online bids eventually received for the same lot.
3. Online bid increments will in no case exceed 10% of the value of the previous purchase order.
4. Online bids received and accepted by TAGUS are confidential.
5. The potential Buyer accepts that its bids on the TAGUS website, once accepted, are final and cannot, by any means, be canceled or revoked, and TAGUS is not responsible for any errors or failures that occur in the online bidding by part of the Buyer.
6. The Buyer will be the one who bids and buys the lot for the highest value, without prejudice to the possibility of exercising preference or option by official entities, under the terms of the legislation in force.
7. Whenever there are bids during the last minute that precedes the closing time of the auction of a lot being bid, the time necessary to ensure the addition of up to 1 minute to the closing time of the lot will be added. The auction will end when no one else bids.
Article 26 - Maximum bids
1. The maximum bids registered by the bidders are not disclosed by TAGUS.
2. The maximum bids registered are managed by the TAGUS website, meaning that the value of the lot will be automatically increased by the system, as long as there is another bid or maximum offer placed later.
3. The bidders who place maximum bids will be bidding the base bid value (if there are no bids yet) or the value of the next bid presented for the lot, the value of this bid being conditioned to other value(s) ) of any previously registered maximum offers.
Article 27 - Payment. purchase commission
1. The Buyer undertakes to pay TAGUS the total amount due for the purchase of the lot, that is, the value of the respective sale and a purchase commission of:
a) On our website (Live Auctions platform) - 20% on this value, plus VAT at the legal rate, if is due.
b) On Drouot - 24% on this value, plus VAT at the legal rate, if is due.
c) On Invaluable - 26% on this value, plus VAT at the legal rate, if is due.
d) On Bid Spirit - 22% on this value, plus VAT at the legal rate, if is due.
2. Payment must be made within 5 (five) business days from the day following the closing date of the auction, and may be made by cash, ATM, bank transfer or check, in accordance with the legislation in force.
3. The lot is available to the Buyer for collection after confirmation of the good collection by TAGUS of the total amount due.
4. Ownership of the good is transferred to the Buyer after payment to TAGUS of the total amount due for the purchase of the lot and collection of the good/or the expiry of the term for this purpose. Until transfer of title, the property remains the property of the Seller.
Article 28 - Lifting and transport. Buyer's responsibility for the purchased lot
1. The purchase and transport of the purchased lot is the sole responsibility of the Buyer, without prejudice to any indication by TAGUS of the company(s) providing this service, which excludes any liability for the fact that TAGUS, its representatives, workers or collaborators.
2. The Buyer must proceed with the collection of the purchased lot within 5 (five) working days from the closing date of the auction, and after payment of the total amount due.
3. Any loss or damage to the purchased lot, including theft or robbery, that occurs during the period for its collection, only entitles the Buyer to receive an amount equal to that paid up to that moment for the lot, without right to compensation or interest.
Article 29 - Default by the Buyer. Non-payment or non-collection of purchased lots
1. If the Buyer does not comply with the conditions and deadlines for payment and/or collection of the purchased lots, provided for in articles 27 and 28, TAGUS, on its own behalf and/or on behalf of the Seller, may adopt one or more of the following measures:
a) Claim the right of retention on one or all of the lots sold to the Buyer in the auction in question, or in another auction, until the obligation assumed is fulfilled;
b) Reject any bid made by the Buyer in subsequent auctions;
c) Take legal action against the Buyer with a view to being compensated for damages arising from non-compliance.
2. In addition to the provisions of paragraph 1, in case of non-payment of the purchased lot, TAGUS may:
a) Charge late payment interest, at the legal rate applicable to commercial transactions, on the total amount owed until its effective receipt;
b) Cancel the sale and re-sell at auction or outside auction, the lot not paid by the Buyer, without prejudice to the collection of any amount that remains owed by the defaulting Buyer and without the Buyer being able to oppose or claim compensation.
3. In addition to the provisions of paragraph 1, in case the purchased lot is not picked up, TAGUS may charge the costs of removal, storage and insurance thereof, in accordance with the price list in force.
4. In the case provided for in the previous number, the Buyer is also responsible for any loss or damage of any nature, including theft or robbery, of the lot purchased and not collected.
5. After 15 (fifteen) days after the payment of the lot, without the Buyer proceeding with its collection, the Buyer expressly and unreservedly authorizes TAGUS to proceed with the sale of the lot to reimburse all costs incurred. If there is a positive balance with the sale of the lot, the same will be paid to the Buyer.
6. TAGUS keeps the Seller informed of the measures adopted in relation to the Buyer and, if the specific measure requires the Seller's intervention, the Seller must authorize TAGUS for whatever is necessary or convenient.
7. Whenever TAGUS manages to collect, judicially or extrajudicially, the credit on the Buyer, it will deliver the amount due to the Seller within 5 (five) business days following the effective collection.
Article 30 - Description, state of conservation and authenticity of the goods
1. Buyers accept the goods in the state of conservation in which they are at the date of the auction, and it is up to potential Buyers to personally confirm at TAGUS's premises, by observing the lot, the accuracy of the description in the catalogue, namely in what concerns any restorations, faults or defects mentioned.
2. In the case of goods that include mechanisms or electrical components, TAGUS will include information on their operating status in the description of the lot in the catalog, without however being responsible for their proper functioning.
3. If there is a relevant discrepancy between the description and the reality of the good at the time of acquisition - which implies a significant change in the value of the good -, or that any good constituted a deliberate forgery, the same can be returned by the Buyer to TAGUS at period of 2 (two) years from the date of purchase, in the same condition in which it was at the date of the auction, accompanied by a report signed by an expert recognized in the national or international market, regarding the defects or falsifications identified in the good, of the lot number and the date of the auction at which it was sold.
4. TAGUS may oppose to the expert opinion presented by the Buyer another of equivalent value, in which case the dispute will be decided upon consultation with a third expert, chosen by both parties.
5. If TAGUS considers that the Buyer is right, the purchase and sale will be canceled and the total amount paid to TAGUS will be returned, without the Seller being able to oppose it.
6. If the provisions of the previous number have been verified and the payment of the bill of sale has already taken place, the Seller must refund to TAGUS the amount received for the sale of the good.
7. The provisions of this article apply exclusively to the original Buyer, that is, the one who has acquired the good at the auction, and is limited to the total amount paid by him for the purchase, not being able to claim any loss, damage or damage suffered. or expense incurred.
Article 31.º - Inexistence of the right of free resolution
The online Buyer acknowledges that, having made a purchase at auction, he does not benefit from the right of free termination of the contract, provided for in the legislation that regulates contracts concluded at a distance.
Article 32 - Claims from third parties
TAGUS is not responsible to the Buyer of any good that, due to a fact attributable to the Seller or a third party, becomes the subject of claims or claims by third parties, including seizure, by the competent authorities, regardless of the date on which it was determined or effected. the respective claim, claim or seizure, and the nature or amount of any damages, losses or damages that may arise for the Buyer therefrom, which must be claimed by the Buyer directly against the Seller or third party causing it.
Article 33 - Restrictions on transmission, export and similar
1. TAGUS is also not responsible to the Buyer for any good that may be prevented from leaving the country or subject to any other burden, charge or restriction determined by administrative or judicial entities, including under the legislation for the protection of cultural heritage. .
2. It is the Buyer's responsibility to find out (and, if applicable, obtain) about any (i) licenses and other export formalities or restrictions from Portugal to the Buyer's intended country of destination; and (ii) licenses and other import formalities or restrictions into Buyer's intended country of destination.
Article 34 - Limitation of Liability
Except in case of intent and without prejudice to the legally obligatory insurance, the eventual liability of TAGUS towards the Buyer is, in any case, limited to the amount actually paid by the latter for the acquisition of the lot.
IV. FINAL DISPOSITIONS
Article 35 - Rights over photographs and publications
The Seller and the Buyer expressly authorize TAGUS to photograph, publish and use, at all times and in any form, the image and description of the goods that have been put up for auction.
Article 36 - Communications
TAGUS communications addressed to Sellers, bidders or Buyers are made by email, telephone or post. If made by registered mail, they are considered received 3 (three) days after dispatch.
Article 37 - Amendments
These Business Terms and Conditions may be amended by TAGUS, without retroactive application.
Article 38 - Competent forum
For the resolution of any dispute between the parties arising from the Contract and from these Terms and Conditions, the jurisdiction of the District of Lisbon will be exclusively competent.
Article 39 - Arbitration
In accordance with the provisions of Law no. - 2.º,Lisbon, available at http://www.centroarbitragemlisboa.pt .
For more information, consult the Consumer Portal at http://www.consumidor.pt .
March 2023.
