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1. The Pinter Auction house ltd. undertakes to organize, handle and conduct the auction, acting as a trading agent on behalf of the Vendor. According to their order of appearance in the catalogue, the auctioneer describes each lot's number of the catalogue and announces the starting price. Buyers indicate their wish to place a bid by raising their paddles.
2. In case there is more than one bid for the starting price, the auctioneer increases the bid by increments until only one bidder remains and the purchase is made by the lot being hammered down. The highest bidder acknowledged by the auctioneer shall be the buyer at the hammer price, thus getting the right to purchase the lot unless, in case of protected objects, the hungarian state exercises its preemptive right given by the law of 2001./ LXIV. [51.§(4), 86.§] (the hungarian state exercises its preemptive right for the hammer price of the lot at the auction). the possession of the item purchased can be handed over to the buyer when the total purchase price is fully paid up and the buyer receives the lot from the Auction house.
3. The Pinter Auction house ltd. acting as a trading agent on behalf of the Vendor and standing for the Vendor with complete authorization is entitled to conclude sales contract with the buyer who gives the highest bid acknowledged by the auctioneer at the hammer price and the Auction house is entitled to take over the purchase price of the lot. under the terms of the agreement the contract is concluded between the owners of the lots or those who have the right to sell them (hereinafter referred as "Vendors") and the buyers.
4. The buyer shall pay the full purchase price in cash or by credit card immediately after the sale or a minimum of 20% of the purchase price as a deposit. In case the total purchase price is paid at the sale, the lot purchased is handed over to the buyer on the spot. the Auction house allows a 8-day grace period after the auction to pay the remaining amount above the deposit. in such cases the buyer may only enter into possession of the lot when the full purchase price has been paid within 8
days from the auction. the amount of the deposit is included in the purchase price paid within the deadline. the Auction house reserves the right to void the bid of the purchaser, exercises of right to withdraw and keep the deposit if the buyer fails to take over the item until the deadline given.
5. The buyer shall pay a commission, which is the percentage of the hammer price. it depends on the amount of the hammer price.
6. the buyer shall transport the item purchased at his own risk and cost immediately after the purchase price has been paid. in case of failure to do so, the Auction house will not be liable for any loss or damage. Furthermore, the Auction house will charge 5% of the hammer price monthly as a storage fee starting from the 15th day after the auction. if the buyer fails to take away the items within 6 months after the auction, the Auction house will send a notice to the buyer. in case of non-compliance the Auction house will have the right to sell the item, and after deducting its costs and expenses keep the remaining amount to be handed over to the buyer.
7. It is forbidden to collude or attempt to make any third parties offer a price, which considerably exceeds the market price therefore causing damage to these parties.
8. All lots are available for inspection and they can be viewed at the exhibition in the Vaszary Gallery (8230 balatonfüred, honvéd utca 2-4.) prior to the sale. the Auction house publishes a catalogue of the lots to be auctioned, which can be viewed during the exhibition prior to the sale. Descriptions and illustrations in the catalogue are for identification only, therefore buyers shall carefully inspect
the conditions of each lot prior to the sale and shall decide whether the lot is in accordance with its description. All items are sold without any guarantee "as it is", meaning in the condition they are in at the time of the sale with all existing faults and imperfections.
9. the Pinter Auction house ltd. does guarantee the genuineness of all the items at the auction. The Auction house will not accept any complaints after the lot has been hammered down unless the item is not genuine despite being declared so in the catalogue. in such case the buyer may contest the sale in writing within three months of his/her initial doubt to the origins or the genuineness of the item, but no later than five years after 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 a judicial decision proves that the item is not genuine.
10. the lots are not allowed to be purchased below the starting price. As the purchase price is formed on the basis of the bids offered publicly, the Auction house will not bear any liability in respect of the purchase price paid. the Auction house may not be compelled to reauction the same item at the same price at a later time.
11. no item marked "VÉDETT" (protected) or "NO EXPORT" may be taken outside hungary permanently (2001./ LXIV. /§59./1./b.). Owners of protected lots will be registered by the cabinet Office of the Prime Minister. in case of any change in ownership, the Office must be notified immediately (a point of section 55 of Act LXIV. of 2001.)
12. Unsold lots may be reauctioned at the end of the sale upon buyers' request.
13. Matters not covered in present terms and conditions shall be governed by and interpreted in accordance with the civil law of hungary. in case of any disputes parties agree that the Metropolitan court of budapest is to have jurisdiction.
14. Please note: An export license is needed for the movement of all cultural goods which are more than 50 years old and the price is higher than 100.000 HUF (either to other Member states or outside
the European community). Permanent exportation of protected cultural goods or those for which protection has been declared is prohibited, they must require a temporary export license - with the condition of return. if the buyer would like the item to be exported, a certain amount will be charged by the Auction house for obtaining the export licence. After the export licence is prepared, the buyer shall make the necessary arrangements to transport the item purchased and insured at his own costs and responsibility. the rules of the export of cultural goods are determined in the law of 2001./ LXIV. cultural goods are only allowed to be taken outside hungary permanently according to this regulation.
15. Methods of Payment:
Bank information for wire transfer:
Account number: 10918001-00000057-08490001
swift code: bAcXhuhb
bank: unicredit bank hungary (Alkotmány utca 4, budapest 1054, hungary)
the owner of the account: Pintér Aukciósház kft. (1055, budapest, Falk Miksa utca 10.)
Please appear the number of the lot/lots or possibly the title of the lot/lots at the comment.
16. The buyer may take possession of the lot right afterwards the auction or the next day until 12 o' clock, at the Vaszary Gallery. After August 6, the items can be taken at the Pinter Auction house.
If you have any question about the auction please call us during the exhibition in the Vaszary Gallery
or in the Auction house on the following phone number: +36-30-3310-600 /+ 36-1-311-3030 or via
e-mail: [email protected]
Enjoy the Auction!
Pinter Auction house
The buyer shall transport the item purchased at his own risk and cost immediately after the purchase price has been paid. in case of failure to do so, the Auction house will not be liable for any loss or damage. Furthermore, the Auction house will charge 5% of the hammer price monthly as a storage fee starting from the 15th day after the auction. if the buyer fails to take away the items within 6 months after the auction, the Auction house will send a notice to the buyer. in case of non-compliance the Auction house will have the right to sell the item, and after deducting its costs
and expenses keep the remaining amount to be handed over to the buyer.
No item marked "VÉDEtt" (protected) or "NO EXPORT" may be taken outside hungary permanently (2001./ LXIV. /§59./1./b.). Owners of protected lots will be registered by the cabinet Office of the Prime Minister. in case of any change in ownership, the Office must be notified immediately (a point of section 55 of Act LXIV. of 2001.)