Conditions of Sale
Article 1: Applicability
1.1. These General Terms and Conditions apply to all relations between Adams and the buyer, including those pertaining to purchase, sale, mediation, valuation, examination, appraising, cataloging and storage. "Buyer" in this case, is also understood as the prospective buyer who participates in the auction.
1.2 Deviation from these General Terms and Conditions is only possible if expressly stated so in writing by Adams.
1.3 The applicability of the general terms and conditions is made known to the buyers by publication on the website and online catalogue. By bidding at auction the buyer declares to fully accept the applicability of these terms and conditions.
Article 2: Information/investigation obligation
2.1 Descriptions in the catalogue and any written or oral information are provided by Adams and its personnel to the best of their knowledge.
2.2 Before the purchase, the buyer must thoroughly inspect the condition and description of a lot in the catalogue, or seek expert advice if applicable, and form his/her own opinion about the extent to which the object corresponds with its catalogue entry. The buyer should not rely solely on the descriptions and photos provided in the catalogue.
Article 3: Catalogue
3.1 Adams reserves the right to change the catalogue entries up to two hours before the start of the relevant auction date. From that moment on, the published text is binding.
3.2 If certain defects or imperfections are stated in the catalogue, this is intended to be an indication that is not exhaustive and from which the buyer cannot derive any rights. The lack of a condition description is in no way a guarantee for the integrity or completeness of the lot. If notations of signature, date, title or such annotations are not included in the description, this implies the absence of such annotations of the concerned lot, no rights can be derived from this either.
Article 4: Viewing days
4.1 All objects can be physically examined at the auction house or during the viewing days before the auction closes. Each bidder has ample opportunity to verify the catalogue descriptions before the auction. Therefore, any right of withdrawal on grounds other than those mentioned in article 10.1 lapses. This means that withdrawal from sale is only possible if the description deviates substantially from the nature and/or condition of the lot.
Article 5: Bidding
5.1 The estimates provided are intended as an indication of yield and as a guide to bidding, they are not limits or selling prices. Absentee bids must at least amount to the starting bid price. Most lots have a starting/reserve price - below the low estimate.
5.2 Prices are in Euros. Bids are raised by fixed increments. Up to €100 the increment is €5, from €100 to €200 the increment is €10, from €200 to €300 the increment is €20, from €300 to €500 the increment is €25, from €500 to €1.000 the increment is €50, from €1.000 to €2.000 the increment is €100, from €2.000 to €5.000 the increment is €200, from €5.000 to €10.000 the increment is €500, and from €10.000 upwards the increment is €1.000.
Article 6: Purchase
6.1 The hammer price is binding for all parties. The highest bidder is the buyer. In the event of a difference of opinion, the auctioneer remains the only one entitled to designate the sale price and the buyer. He has the right to correct himself in the event of error, as well as to refuse an offer without a statement of reasons.
6.2 Each bidder is deemed to purchase for its own account and cannot rely on instructions of others. Each buyer is held to buy for his own account and cannot claim any commission. The auctioneer will carry out orders from those who cannot attend the auction at no cost.
Article 7: Bidding online
7.1 Winning bidders pay a buyer's premium over the hammer price plus the 3% online transaction fee charged by Invaluable. The buyer's premium is 24.2% including all taxes up to and including € 100,000; 18.15% including tax of the portion of the hammer price above € 250,000. This fee is collected by Adams, together with the purchase costs, the artist resale right (for applicability see article 8) and all other costs, such as fees for shipping, payment by credit card, and the like.
7.2 No VAT is charged on the hammer price, only on the buyer's premium and the additional costs. The margin scheme is applicable. All the taxes are already included in the amounts on the invoice.
Article 8: Resale Royalty
8.1 The winning bidder is responsible for paying the resale royalty (droit de suite) if applicable. Droit de suite is payable to living artists or their heirs within 70 years following the death of the artist on resold artworks with a resale price [hammer price + total premium excl. VAT] of at least €3.000. The artist must be an EU national, or a national of Iceland, Liechtenstein or Norway, or must be a permanent resident of the Netherlands. The royalty of 4% is to be paid on resale prices from €3.000 to €50.000; on portion of the price from € 50,000.01 to € 200,000 3% of royalties is to be paid, from € 200,000.01 to € 350,000 droit de suite is 1%, from € 350,000.01 to € 500,000 - 0.5%; above € 500,000.01 - 0.25%. Resale royalties are not subject to VAT.
Article 9: Payment
9.1 All purchases must be paid within two weeks of the receipt of the invoice. Property of the goods does not pass to the purchaser until the invoice has been paid in full. Any costs caused by buyers not complying with these conditions (e.g. collecting fees) will be chargeable to them. Payments are accepted by bank transfer, debit card (if paying in the office), Visa and Mastercard. All bank charges are to be paid by the buyer. Payments by credit card from outside the EU are subject to a 4% surcharge on the total invoice amount up to €1.000; on invoices from €1.000 to €2.000 the surcharge is 3%, and on amounts exceeding €2.000 a surcharge of 2.5% is applicable.
Article 10: Returns
10.1 Items may be returned - in the same condition - if any serious defect not mentioned in the catalogue is found. Notice must be given promptly, and the item must be returned within 30 days from the day of the purchase. Exempt are lots comprising 3 or more works, works not mentioned in the description separately ("others"), or items marked "w.a.f." ("with all faults") or "n.s.t.r." ("not subject to return"). The auction house does not guarantee the condition of frames, glass plates and passe-partouts and shall not be liable for any damage.
10.2 In case of doubt about the authenticity of a work, subject to the terms below, we will refund the purchase price paid by you:
a. Provided that the work is returned within 1 year from the date of the sale.
b. The authentication error applies only to the attribution of the piece to a particular artist, manufacturer, period or culture.
c. The buyer will be compensated only if the error does not concern terms such as "Attributed to" or "Circle of" which means that the lot is in Adams' opinion probably a work by the named artist or is made in the period showing his influence but no warranty is provided that it is certainly the case. If any questions arise regarding the terms used in our catalogue, we advise you to get in touch with us in order to become fully acquainted with terminology used in the catalogue.
d. The buyer will not be compensated if the catalogue entry either matches the generally accepted opinion of experts at the date of the sale or draws attention to any conflict of opinion;
e. The compensation will be made only under the following conditions:
The buyer must give us written details of any claim within 1 year of the date of sale;
The buyer is obliged to obtain written opinions of two recognised, independent experts in the field of the lot, mutually agreed by the consignor and Adams, who confirm that the lot is not authentic. We reserve the right to obtain additional opinions at our expense;
The buyer must return the lot in the same condition as it was in at the time of sale.
Article 11: Collection, shipment and private sales
11.1 All goods must be collected no later than two weeks after the auction. All additional costs incurred after this date due to storage, insurance, transport, etc., shall be borne by the buyer. Adams is entitled to charge the buyer a fixed amount per day after the maximum period for collection has expired, depending on size and value. If the goods have not been collected within ten weeks of the end of the auction, the auctioneer is entitled to privately sell the goods that in his opinion do not qualify for re-auction for the benefit of the buyer. By exceeding this term, the buyer undertakes to accept the balance of benefits and costs resulting from this private sale.
11.2 Shipping is at the buyer's cost and risk.
Article 12: Applicable law and choice of forum
12.1 All purchases are exclusively subject to Dutch law. In the event of disputes, the competent court in Amsterdam has exclusive jurisdiction in the first instance.