PALÁCIO DO CORREIO VELHO - AUCTIONS AND ANTIQUES, S.A., hereinafter referred to as "PCV", conducts its auctioneer activity in accordance with Portuguese legislation, including Decree-Law No. 155/2015, which establishes the legal framework for auctioneer activities, to the Business Conditions set out in the following articles and to any others expressly stated in the appropriate place. These Business Conditions apply to all auctions organized by "PCV", whether they are Live/Online (in-person) or Online. These Business Conditions are divided into four Sections, (I) Conditions related to Sellers; (II) Conditions related to Buyers; (III) General Conditions Common to Sellers and Buyers; and (IV) Conditions Related to Online Auctions and Online Participation in Live/Online Auctions (in-person); this division is solely for the purpose of simplifying and facilitating the consultation of the articles, which, however, constitute a whole and as such should always be understood.
DEFINITIONS IN THESE BUSINESS CONDITIONS:
a) Catalogue / Digital Catalogue / Brochure - Includes all and any advertising, information, brochure, price list, or any publication by "PCV", regardless of its nature.
b) Seller - Is the person or entity that enters into a contract with "PCV" for the sale of a movable good at auction.
c) Buyer - Is the bidding person who presents, by themselves or through a representative, under these Business Conditions, the highest bid on a particular good at the Hammer Price.
d) Sale Commission / Service Provision - Corresponds to the commission related to the sale of a particular good, deducted from the Hammer Price and borne by the Seller at the applicable rate in force.
e) Purchase Commission / Service Provision - Corresponds to the commission related to the purchase of a particular good, applied to the Hammer Price and borne by the Buyer at the applicable rate in force.
f) Expenses - Related to the sale of any lot, associated with the costs of "PCV", according to the price list in force, with cataloguing, CITES certificates, copyright, photographs, illustrations, publications, advertising, restorations, insurance, packaging, handling, storage, and transport, related to the lots, as well as any amount of VAT incident on the Expenses.
g) Forgery - Corresponds to an imitation made with the intent to deceive regarding authorship, origin, date, age, period, culture, source, or any other essential data, provided that there is a discrepancy relative to the description in the catalogue and that such imitation at the time of sale has a materially lower value than it would have if the catalogue description were correct.
h) Live/Online Auction (in-person) - A live auction conducted by an auctioneer, broadcasted and with the possibility to bid live (live stream), through the various digital channels of the Company, as well as by telephone registration and through Purchase Orders or in person.
i) Online Auction - An automatic, timed auction using external software with our current partners.
j) Online Shop | Direct Sales - Sales of artworks outside of auction, through our digital channels and contact network.
k) Total Amount Due - Corresponds to the Hammer Price of a lot sold, plus the "Purchase Commission / Service Provision" at the applicable rate in force and any additional charges and expenses due by a Buyer in default, according to the provisions of Article 20 of Division I.
l) Original Work of Art - Corresponds, under the terms of article 54, paragraph 2, of the Code of Copyright and Related Rights, to any graphic or plastic artwork, such as paintings, collages, drawings, screen prints, engravings, prints, lithographs, sculptures, tapestries, ceramics, glass, and photographs, to the extent that it is executed by the author or consists of copies considered as original artworks, which must be numbered, signed, or in any way authorized by him.
m) Hammer Price - Means the price at which a lot was awarded by the auctioneer at the moment of sale (fall of the hammer).
n) Amounts Due - Correspond to the net amounts due by the Seller and the Buyer to "PCV", i.e., from the Hammer Price of the lot sold, the "Sale Commission / Service Provision" at the Applicable Rate, expenses, and any amounts due by the Seller under any title are deducted, always with VAT at the legal rate in force. In the case of the Buyer, to the Hammer Price of the lot sold is added the "Purchase Commission / Service Provision" at the Applicable Rate, expenses, and any amounts due by the Buyer under any title, always with VAT at the legal rate in force.
o) Applicable Rates / Service Provision - Correspond to the rates applicable to the "Sale Commission / Service Provision" and the "Purchase Commission / Service Provision" practiced and duly advertised or specified by "PCV".
I - CONDITIONS RELATING TO SELLERS
I.I Contract
Article 1. - Service Provision Contract
a) The seller or their representative of one or several goods and "PCV" are bound to each other from the moment the respective service provision contract, hereinafter referred to as "Contract", is signed by both parties.
b) Any contract entered into by "PCV" can only be with one single Entity, without prejudice to the stipulations of Article 2.
Article 2. - Mandatory mentions of the Contract
The Contract must mandatorily include:
a) The complete identification of the seller and, if applicable, their representative;
b) The identification and description, even if summary, of the goods and their condition;
c) The minimum/reserve sale price of the goods, agreed upon by the parties;
d) The commission due by the seller to "PCV";
e) Fees due related to the sales of the goods, such as: Cataloguing, CITES Certificates, Copyright, Photographs, Illustrations, Publications, Advertising, Restorations, Insurance, Packaging, Storage, Transport, etc., if VAT applies, the legal rate in force will be applied;
f) Indication, when the seller is a VAT liable acting as such, of the cases in which the transfer of the good is not exempt from VAT [under the terms of article 9, subparagraph 32), or article 53, of the VAT Code, or an identical provision of the legislation of the Member State of the European Union where the transfer occurs] nor is subject to the special margin taxation scheme (approved by Decree-Law No. 199/96, of October 18, or according to an identical scheme of the Member State of the European Union where the transfer occurs);
g) Any other mandatory mentions under the applicable legislation (in particular, Decree-Law No. 155/2015);
h) The physical signature, digital signature, or written acceptance of the seller or their representative with powers for the act, declaring to know and accept these Business Conditions and any particular conditions that may apply.
Article 3. - Guarantees and obligations of the Seller
Upon entering the Contract, the seller:
a) Guarantees to have the capacity and legitimacy to contract and, in particular, to be the owner, legitimate possessor of the good, informing its provenance and that it is free from any liens, charges, or restrictions, particularly regarding detention, use, enjoyment, or transferability, including classification, inventory, or listing by any official entity, and that no procedure aiming at such end has been initiated; in the case that, during the validity of the Contract, the seller is notified or somehow becomes aware of the initiation of a procedure aiming at the classification, inventory, or listing of the good or that any third party claims any right over it, they must immediately inform "PCV" of such fact;
b) Guarantees not to have concealed from "PCV" any elements or information that, had they been known by it, would have been likely to modify its willingness to contract or to alter the description of the good and/or the value attributed to it;
c) For a good that is not in the possession of "PCV" or under its control, assumes towards "PCV" and the Buyer the obligation to make the good available to the Buyer as soon as they request it.
d) Assumes the obligation to indemnify "PCV", its representatives, workers, or collaborators, as well as the Buyer for any damage or loss suffered by the good or goods as a result of the non-compliance with some of the provisions set out in the previous numbers.
Article 4. - Representation by a third party
In the case that the seller is represented by a third party, the provisions of the previous Article apply to the latter, with the necessary adjustments, further obliging the representative to present to "PCV" documents that title their respective relationship with the owner seller, namely a power of attorney with sufficient and adequate powers.
Article 5. - Proof of legitimacy
"PCV" reserves the right to request, at any time, the presentation of documents proving the seller's capacity and legitimacy, including, without limitation, documents proving the ownership of the good, namely documents titling the respective acquisition by the seller.
Article 6. - Examinations and expert assessments
"PCV" also reserves the right, at any time, to perform or have performed examinations and/or expert assessments of the good, in order to confirm or refute the respective description made in the Contract. In case such examinations or expert assessments conclude that the Contract is not materially correct, "PCV" may denounce or resolve it and, in case the seller acted with deceit or negligence in the negotiation and conclusion of the Contract, must indemnify "PCV" for the damages and losses suffered by it, named but not exclusively, the costs incurred with the examination/expert assessment, including also the image damage in case the sale of the good had already been advertised. "PCV" may also denounce or resolve the Contract, without thereby granting the seller any right to compensation, in case such examinations or expert assessments are not conclusive, but still, there remain for "PCV" founded doubts about the material correctness of the Contract.
Article 7. - Changes to the Contract
The Contract can only be altered by mutual agreement and in writing, without prejudice to, in the catalogue where the good is to be included, "PCV" being able to change the description and increase the minimum sale price of the good stated in the Contract, as well as freely establish the number of goods to be placed in each lot, which will never be considered a contractual alteration.
Article 8. - Non-compliance
In case of non-compliance by the seller with their respective obligations arising from the Contract, including, in particular, the obligation to make the good available to "PCV", it may notify the seller to remedy the non-compliance within a reasonable and useful period, after which, if the situation of non-compliance persists, "PCV" will have the right to resolve the Contract with immediate effects, also having the right 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 for the reserve value stipulated in the Contract with a minimum of 30% over the minimum estimate of the goods, plus any other amounts due by the seller under the Contract and without prejudice to any additional damage.
Article 9. - Duration
The Contract will last for an indefinite period, so its validity can only cease by (i) mutual agreement; (ii) termination in cases expressly provided for in these Business Conditions; (iii) unilateral resolution with just cause; or (iv) depending on the case, with the payment of the price or the return of the good to the seller by "PCV".
I.II Responsibilities and Sale Conditions
Article 10 - Products or derivatives from animals and/or plants acquired and introduced in Portugal before the entry into force of the CITES Convention 1975
a) The Seller of parts, products, or derivatives from animals and/or plants acquired and introduced in Portugal before the entry into force of the CITES Convention 1975, including ivory, rhinoceros, turtle, and coral pieces, among others, which, due to their nature, require certification issued by ICNF, must provide "PCV" with proof of such certification up to 15 days before the scheduled auction date, under penalty of "PCV" refusing to auction such a piece, with the Seller being responsible for reimbursing "PCV" for all expenses already incurred for the inclusion and preparation of that piece for auction.
b) If agreed between the Seller and "PCV", the latter may handle the legalization process of the piece, with the Seller obliged to sign the ICNF forms presented by "PCV", as well as to bear the costs associated with the operation. If the Seller is not the owner of the piece, to obtain a form signed by the respective owner, as well as the obligation to deliver to "PCV" all documents and declarations required, at the time and for this purpose, by ICNF, and also to authorize any expert assessments of the piece required by this Authority.
c) The Seller cannot, in any way, hold "PCV" responsible for any non-compliance with ICNF regarding obligations that fall on the owners of pieces of this nature.
Article 11 - Legal Regime of Jewellery and Assay Offices - Law No. 98/2015, of 18/08
All goods made of precious metals that "PCV" places for sale observe the provisions contained in Law No. 98/2015, of 18 August (as amended by DL No. 9/2021, of 29/01) and its regulation, being duly hallmarked. "PCV" will deduct, from the hammer price of the works, the fees charged by INCM, whenever the goods, not being hallmarked, must be subject to hallmarking, according to the Fee Table provided in Ordinance No. 403-B/2015 (which can be consulted at https://contrastaria.pt/servicos/tabela-precos-taxas/), plus a service fee included in our Price List.
Article 12 - Reserves
a) The Seller has the right, on the date of signing the contract with "PCV", to agree on a reserve value, setting the minimum Hammer Price from which the lot in question can be sold. If the Seller agrees to bring the lot to auction without a reserve value, it implies that it can be sold below the minimum estimate, for the best offer.
b) "PCV" may, even having agreed on a reserve value, if it deems appropriate, sell at a Hammer Price below that value, in which case, the Seller will be entitled to receive an amount identical to what would be paid if the lot had been sold for the amount of the reserve.
Article 13 - Seller's responsibility for transportation
Unless expressly contracted with "PCV", the transportation to, and the deposit of the good at "PCV"'s facilities, as well as its subsequent collection and transportation in case of non-sale, are entirely the responsibility of the seller, considering that any assistance provided by "PCV", its representatives, workers, or collaborators, is as a courtesy and mutual agreement, and no type of responsibility can fall on them for the fact. The eventual indication of a company or person to do so also excludes any responsibility of "PCV", its representatives, workers, or collaborators.
Article 14 - Seller's responsibility for possession
Any losses or damages, including theft or robbery, that occur to a good while it is in the possession of the seller, even after the Contract has been signed, are entirely and exclusively the responsibility of the seller, who is obliged to indemnify "PCV" and/or the buyer for all damages and losses suffered.
Article 15 - "PCV"'s responsibility for deposit and storage
Except in cases where a different rule is expressly established in these Business Conditions, "PCV" is only responsible for goods that are deposited at its facilities provided that the respective Contract has been duly signed by the parties or that the goods have been formally entrusted to it for the purposes of transportation, identification, evaluation, and sale. "PCV"'s responsibility for any possible losses or damages, including theft or robbery, that may occur to goods that have been formally entrusted to it is covered by insurance for the agreed reserve value.
Article 16 - Insurance
a) "PCV" will insure the goods that are in its possession for identification, evaluation, restoration, and sale.
b) The Seller will bear the amount corresponding to the insurance premium, regardless of the nature of the good, unless negotiated otherwise, and authorizes "PCV" to deduct from the Hammer Price the amount corresponding to the insurance premium.
c) All objects insured by "PCV" have a deductible of €1,500.00 (one thousand five hundred euros) per claim, so any compensations that occur will always apply the said deductible.
d) Goods valued below €1,500.00 (one thousand five hundred euros) that suffer damage in possession and during the contract require an evaluation and mutual agreement.
e) If the Seller or the owner of the good wish to insure it aside from "PCV", they must do so at the value that "PCV" considers as the minimum estimate, at each moment, with the insurance remaining valid until the ownership of the good no longer belongs to the Seller or until the Seller or the owner of the good must proceed with its collection.
e) "PCV" cannot, under any circumstances, be held responsible for damages to objects made of glass, mirrors, frames, or ceramics.
Article 17 - Contract Termination by the Buyer
a) If, before "PCV" sends the Amount Due to the Seller, the Buyer formalizes the intention to terminate the contract under the terms and in accordance with Article 19 and 20 of the business conditions relating to buyers and if "PCV" understands that the Buyer is right, it may terminate the purchase and sale contract and refund the Buyer the amounts delivered to "PCV" with respect to the lot or lots in question.
b) The Seller undertakes to return the amounts received for the sale of any good, which during the period of 3 (three) years counted from the date of the auction, are proven by the buyer and in accordance with the requirements of Article 19, 20, and 21 of the business conditions relating to buyers, regarding the authenticity and possible proofs of forgery of the good, however, having no right to any compensation, indemnification, or interest.
I.III Payment
Article 18 - Deduction of commission and other values
The seller expressly authorizes "PCV" to deduct from the auction amount:
a) the commission due to it under the Contract, plus VAT at the legal rate in force; and
b) the value of services and other payments due under the Contract, plus VAT at the legal rate in force.
Article 19 - Deadline
a) The "PCV" is obliged to provide purchase invoices to buyers within a period of 10 (ten) days from the date of the end of the last auction session.
b) The "PCV" is obliged to send the seller the sales document within a period of 20 (twenty) days after the end of the last auction session, illustrating expenses such as commission and costs inherent to the contract, both plus VAT at the legal rate in force, these being deducted from the auctioned value.
c) The "PCV" will send the Seller the Due Amount 30 (thirty) days after the date on which the documentation was sent to the buyers and always after successful collection of the same.
d) If the "PCV" has not received the Total Amount Due from the Buyer by the date referred to in the previous number, the "PCV" is obliged to send the Due Amount within 5 (five) working days from the date on which it received the Total Amount Due from the Buyer.
e) As an alternative to the provisions of the previous numbers, the "PCV" may choose to send the Seller the Due Amount even if the Buyer has not paid the Total Amount Due within the period provided for in paragraph c), in which case the ownership of the lot will transfer to the "PCV".
f) If the "PCV" has agreed credit terms with the Buyer, with the Seller's prior authorization, the "PCV" must send the Seller the Due Amount within the agreed deadlines, and after successful collection.
Article 20 - Non-Payment of the Total Amount Due
a) After the period of 10 (ten) days in which the buyer must make the payment, as per Article 19, if the "PCV" has not received the total sale value, it must demand the buyer, requiring the outstanding payment within a reasonable period, under penalty of termination of the purchase and sale contract, but without prejudice to any legal action for collection, and inform the seller of this fact.
b) If the payment due by the buyer has not been made within the reasonable period granted for this purpose in the demand, the "PCV", after consulting the seller, may choose to:
(i) initiate a legal action for the collection of the total sale amount; in this case, to the extent that action against the buyer requires the seller's intervention, the seller must grant the "PCV" the powers that are necessary or convenient for the purpose; or
(ii) terminate the contract with the defaulting buyer.
c) In the event that the "PCV" manages to collect, judicially or extrajudicially, the credit from the buyer, it will deliver the due amount to the seller within 8 (eight) days following the effective collection.
Article 21 - Deduction of Other Debts
The Seller expressly authorizes the "PCV" to deduct from the net amount that would be due to them as the Due Amount, the amounts owed by them as Buyer of other goods, thereby effecting a compensation between the existing credits.
Article 22 - Charges Related to Withdrawn Lots
If a Seller proceeds to cancel the Sale Contract, the "PCV" reserves the right to charge a fee corresponding to 30% of the minimum estimate of the Sale Contract, for the goods withdrawn at the time of cancellation, plus VAT at the legal rate in force and of the Expenses incurred, attributable to the goods in question.
Article 23 - Rights on Photographs and Publications
The Seller grants the "PCV" the right to photograph and publish, in any form, texts, photographs, or illustrations of any kind, having as their object or any lot in the possession of the "PCV" to be sold, as well as to use such texts, photographs, or illustrations of any kind, as well as any others provided by the Seller, on their own initiative, at any time, connected or not to the auction.
Article 24 - Sale of Original Works of Art - Copyright / Resale Rights
a) If the good sold at auction corresponds to an Original Work of Art that is neither architecture nor applied art, the author of the work, who is not the Seller, shall have the right, under the terms of art. 54, no. 1, of the Copyright Law, to a share of the price obtained in the sale, tax-free.
b) Under the terms of art. 54, no. 7 of the Copyright Law, the payment of the share referred to in this clause is the responsibility of the Seller of the Original Work of Art, and the Seller commits to delivering the respective amount to the author of the work.
c) In the event that the author of the Original Work of Art contacts the "PCV" with a view to the payment of the share referred to in this clause, the "PCV" will inform the author of the identification and contact details of the Seller and the terms under which the sale was processed, so that the author can exercise their legal right with the Seller.
d) In the case that the Author of the Original Work of Art is represented by the SPA (Portuguese Authors' Society, C.R.L.), the Seller authorizes the "PCV" to deduct, from the hammer price of the works, the amount due for Copyright / Resale Rights which will be delivered to the same SPA (Portuguese Authors' Society, C.R.L.), with a liberating character, in accordance with the Protocol signed with this entity.
e) The share referred to in no. 1 is fixed, under the terms of art. 54, no. 4 of the Copyright Law, as follows, and may never exceed €12,500.00:
(i) 4% on the sale price whose amount is between €3,000.00 and €50,000.00;
(ii) 3% on the sale price whose amount is between €50,000.01 and €200,000.00;
(iii) 1% on the sale price whose amount is between €200,000.01 and €350,000.00;
(iv) 0.5% on the sale price whose amount is between €350,000.01 and €500,000.00;
(v) 0.25% on the sale price whose amount is over €500,000.01.
I.IV Non-Sale of an Item
Article 25 - Post-Auction Regime
a) After the end of the last auction session, the Seller authorizes the "PCV" within a period of 10 days to sell the withdrawn goods under a post-auction offer regime at the minimum estimate value deducting the commission and costs with VAT at the legal rate in force.
b) If the post-auction offer is lower than the minimum estimate, the "PCV" is obliged to contact the Seller with the aim of reaching a mutual agreement for the sale of these goods, deducting the agreed rate and commission between the parties and the costs with VAT at the legal rate in force.
c) If the sale at auction and post-auction fails and the Seller agrees with the re-offering of the lot for sale, they authorize the "PCV" to reduce the value of the minimum estimate or the reserve of the lot, in the following percentages:
Furniture - 50%
Art objects and antiques - 30%
Jewelry and Silverware - 20%
d) In the case of non-sale of a good on a second attempt, and within 1 (one) month from the last auction session, the seller is obliged to:
(i) pay the "PCV" what is stipulated in the Contract, not having the right to any compensation or indemnization for the fact of the non-sale of the good; and
(ii) proceed with the withdrawal of the good.
e) In the auctions of wines and books, if the lots are not sold on the first attempt, safeguarding paragraph a) of this Article, regarding the sale in Post-Auction Regime, the seller must proceed with the withdrawal of the unsold lots, within 20 days following. If the goods are not withdrawn within this period, Article 26 paragraphs b) and c) shall apply.
Article 26 - Failure to comply with the withdrawal deadline by the Seller
a) After the period referred to in Article 25 of this Division of this contract without the good having been withdrawn by the seller, the title of possession over the good will be considered reversed, for all legal purposes, without prejudice to the seller becoming responsible for the loss or damage, including theft or robbery, that may occur to the good, from that date neither the "PCV", nor its representatives, workers, or collaborators can be held responsible for such an eventuality.
b) The seller will also be responsible for all expenses of removal, storage, or insurance of the good that may arise, according to the current price list.
(i) Rates for small-sized objects, such as: jewelry, books, wines, watches, silverware, earthenware, and porcelain: Storage per day / Item | 1 euro + VAT
(ii) Rates for large-sized objects such as: furniture, paintings, sculptures, earthenware, or porcelain services: Storage per day / Item | 2 euros + VAT
c) After 60 (sixty) days from the end of the period referred to in Article 25 of this Division of this contract and the seller not having voluntarily complied with the obligations provided therein, the "PCV" may place the good back in auction, Live/Online (in-person) or Online, without subject to the agreed minimum sale price, receiving the commission and the fees set in the Contract and having the right, also, to deduct all amounts owed by the seller, which the seller expressly and unconditionally accepts.
II - CONDITIONS RELATING TO BUYERS
II.I. REGISTRATION
Article 1 - Registration and its requirements
To be able to bid, a potential buyer must be of legal age, register in advance, and have a bidding number. The registration must mandatorily include: the name, address, tax identification number, telephone contact, identity card or citizen card, in the case of international clients a passport, and the signature of the potential buyer or their representative with powers for the act, declaring to know and accept these Business Conditions. At the time of registration, the potential buyer declares that all information provided by them is true and that the data supplied refers to themselves, being aware that the provision of false data and/or the abusive and/or non-consensual use of third-party data is liable to civil and criminal liability.
Article 2 - Proof of identification - KYC (Know Your Customer)
a) The "PCV" assumes that the data was provided by the holder of the same in a timely manner before the start of each auction, with the aim of complying with the European Union directive (6 AMLD), being responsible for its truthfulness and updating. The "PCV", however, reserves the right, at the time of registration or at a later time, to request the presentation of the original of a valid and current identification document to the potential buyer or their representative.
b) Under the European Union directive (6 AMLD) that came into effect on December 3, 2020, and implemented by regulatory entities on June 3, 2021, with the aim of strengthening anti-money laundering rules and combating financial crime (https://www.lseg.com/en/risk-intelligence/financial-crime-risk-management/eu-anti-money-laundering-directive), any buyer who registers through the digital channels of the "PCV" is subject to a bidding limit up to €7,500.00, which can be changed after presenting the documents mentioned in Article 1 of this Division of the contract, the "PCV", its representatives, workers, or collaborators, cannot be held responsible for the failure to increase bids during auctions caused by this block.
Article 3 - Requirement of guarantee
The "PCV" also reserves the right, at the time of registration or at a later time, to request any potential buyer or their representative to present a guarantee, which the "PCV", according to its commercial and credit policy and according to the potential buyer's history, considers reasonable, both in form and amount.
Article 4 - Block on previous defaults
The "PCV" also reserves the right to refuse registration or ignore any bid from those who have not timely fulfilled obligations, namely payment and collection of one or more goods, in previous "PCV" auctions or on partner digital platforms.
Article 5 - Representation of a third party
a) The "PCV" considers that whoever requests their registration as a potential buyer acts on their behalf, only being able to act on behalf of another by delivering a legally valid power of attorney for the purpose, up to two (2) working days before the sale of the good. In the case that, after all, the power of attorney is validly contested by the supposed represented, the supposed representative and bidder will be considered the buyer.
b) No buyer may request the "PCV" any offsetting with third-party Entities.
II.II. BIDDING AND PURCHASE ORDER
Article 6 - In-person bidding, purchase orders, telephone bidding, and online bidding
Whenever a potential buyer wishes to ensure the effective bidding of a certain or certain goods, they must attend and bid in person at the respective auction, considering the "PCV" that the presence of the potential buyer is, in any case, the most appropriate way to safeguard their interests.
a) Purchase orders
The "PCV" may bid on behalf of and for the account of potential buyers who expressly request it, through:
(i) its own form and under the terms and conditions contained therein, provided that the request is received 3 (three) hours before the start of the respective session; or
(ii) request submitted through one or more Digital Platforms on which the auction in question has been made available by the "PCV", provided that the request is received in a timely manner.
Purchase orders for a certain good will be executed by the "PCV" at the best price allowed by any other purchase orders and bids possibly received for the same good.
b) Telephone bidding
Upon request of potential buyers, received at least 3 (three) hours in advance of the start of the respective session, the "PCV" also makes itself available to make reasonable efforts to contact them by telephone, in order to allow their participation, by this means, in the bidding of one or more previously determined goods, obliging them to guarantee the acquisition of the lot at the minimum estimate value in case there are no more bidders;
c) Online bidding
On the Digital Platforms where the auction in question has been made available by the "PCV", it may also be possible, in addition to the submission of purchase orders referred to above, to make online bids during the auction.
d) The services of executing purchase orders and bidding by telephone and online, referred to in the previous paragraphs, are provided as a courtesy to potential buyers who cannot be present and are confidential and free of charge; the "PCV" will make all reasonable efforts at its disposal for their correct and timely execution; however, neither the "PCV" nor its representatives, workers, or collaborators can, in any case, be held responsible for any error or omission, even if negligent, that may occur in their execution; specifically in the case of purchase orders and online bids, the provisions of Division IV of this document, Business Conditions, also apply.
Article 7 - Bid Progression
a) It is up to the auctioneer to decide, with total discretionary power, the amount by which bids increase in the auction of each item, governed by the established increment table detailed below.
€0.00 - €49.00 | €5.00
€50.00 - €99.00 | €10.00
€100.00 - €399.00 | €20.00
€400.00 - €999.00 | €50.00
€1,000.00 - €4,999.00 | €200.00
€5,000.00 - €9,999.00 | €500.00
€10,000.00 - €19,999.00 | €1,000.00
€20,000.00 - €49,999.00 | €2,000.00
€50,000.00 - €99,999.00 | €5,000.00
€100,000.00 - + | €10,000.00
b) The auctioneer has the right to refuse any bid that does not exceed the previous bid or in any other proportion that the auctioneer may, at their discretion, determine.
Article 8 - Preference and Resolution of Doubts
a) The "PCV" considers the buyer to be the one who, by themselves or represented by a third party with powers for the act, bids and wins the item for the highest value, without prejudice to the possibility of exercising preference or option by official entities, under the terms of applicable legislation;
b) In the case of receiving multiple purchase orders, online bids, or telephone bids of identical value for the same item, they will prevail in the following manner:
(i) bids made through the "PCV" digital platforms and partner platforms.
(ii) bids made by purchase orders or telephone, in order of arrival.
(iii) bids made in the room (in person) will always be considered sequentially to items (i) and (ii) of this Article, notwithstanding the auctioneer's decision with total discretionary power over any doubts.
c) It is up to the auctioneer to decide with total discretionary power, any doubts that occur. They may at any time during the auction, put the item back up for sale following the last bid occurred, choose to restart the bids at the base value or, as a last resort, withdraw the item from auction thus cancelling its sale.
II.III. PAYMENT AND COLLECTION
Article 9 - Commission
The buyer is obliged to pay the "PCV" the total amount due for the sale of the item, that is, the hammer price plus a commission on which VAT at the current legal rate applies, as detailed:
(i) Live/Online Auction - 21.14% + VAT at the current legal rate
(ii) Online Auctions - 21.14% + VAT at the current legal rate
(iii) Online Store | Direct Sales - a) Sale of Second-hand Goods - 21.14% + VAT at the current legal rate; b) Sale of New Items (Partner Companies) - VAT at the current legal rate will be added to the sale price.
Article 10 - Payment Methods
a) The buyer must make the payment referred to in the previous Article through the following means:
(i) At the "PCV" premises, payments with: certified cheque, TPA terminal (debit and credit), cash will be accepted.
(ii) On the "PCV" partner digital platforms, payments with: (ii.i) STRIPE platform: Credit Card and (ii.ii) ifthenpay platform: Credit Card, MB WAY, and Multibanco Reference will be accepted.
(iii) Alternatively, you may opt for the payment method: Bank Transfer
b) Cash payments will only be admitted in an amount less than €3,000 (three thousand euros) or, in the case of an individual not resident in Portuguese territory and provided they do not act in the capacity of a businessman or trader, in an amount less than €10,000 (ten thousand euros).
c) For IRC (Corporate Income Tax) taxpayers, as well as IRS (Personal Income Tax) taxpayers who have or must have organised accounting, payments of a value equal to or greater than €1,000 (one thousand Euros) must be made through a means of payment that allows the identification of the respective recipient.
d) In the case of payment being made through an uncertified cheque, the total sale amount is only considered paid after successful collection, regardless of whether the item may already be in the possession of the buyer.
Article 11 - Payment Deadline
The buyer is obliged to make the due payment within 10 (ten) days following the date of the last auction session, a deposit of 30% of the value may be required at the time of the bid, which is not covered by guarantee. After the said period of 10 (ten) days, the "PCV" reserves the right to charge interest at the legal rate in force for commercial operations.
Article 12 - Collection and Transfer of Ownership
a) The collection of any item by the buyer will only be authorised after the due amount has been fully paid to the "PCV". Similarly, the transfer of ownership of the item to the buyer will only occur after full payment, with the item remaining, until then, the property of the seller and in the custody of the "PCV".
b) The "PCV" may, at its discretion, negotiate and agree, before the auction, credit conditions to be granted to the Buyer, under which the Buyer may take possession of the lots acquired, up to a certain value, before having paid the Total Amount Due, such payment to be made on the date agreed with the "PCV".
Article 13 - Responsibility for Collection
a) The collection and transportation of an item are the sole responsibility of the buyer, considering that any assistance provided by the "PCV", its representatives, workers, or collaborators is as a courtesy, and no type of liability shall arise from such fact. The eventual indication of a company or person to do so also excludes any liability of the "PCV", its representatives, workers, or collaborators.
b) The packaging and handling by the "PCV" staff of purchased lots will take place solely as a courtesy of the "PCV" to the clients and will only occur if the "PCV" deems it appropriate, in the case of perishable goods.
c) Under no circumstances will the "PCV" be responsible for damage to glass, mirrors, frames, or ceramics, whatever the cause of such damage, after leaving our premises.
d) Export License (Non-European Union Countries); Prior Shipment Notification (European Countries). According to current legislation, all lots purchased at auction that are over 50 (fifty) years old are subject to the request, to the competent Public Entities, for an Export License (for non-European Union countries) or a Prior Shipment Notification (for European countries). Only after obtaining these documents will it be possible to dispatch the lots. The Export License takes, on average, 30 (thirty) working days to obtain and the Prior Shipment Notification 15 (fifteen), and they have a cost to be estimated on a case-by-case basis, the responsibility of the buyer. The "PCV", optionally and at the request of the buyer, may, as a courtesy, through its partner carriers, assist clients in obtaining the aforementioned documents.
Article 14 - Responsibility after the Collection Deadline
a) Once the item is collected, or after a period of 10 (ten) working days from the date of the last auction session without the item being collected by the buyer, the buyer will be responsible for any loss or damage, including theft or robbery, that may occur to the item. The buyer is also responsible for all expenses of removal, storage, and/or insurance of the item as applicable, according to the current price list.
b) The Buyer will also be responsible for all expenses of removal, transfer, and handling of lots between facilities, storage, or insurance of the item as applicable, according to the current price list.
(i) Rates for small-sized objects, such as: jewellery, books, wines, watches, silverware, earthenware, and porcelain: Storage per day / Item | 1 euro + VAT
(ii) Rates for large-sized objects such as: furniture, paintings, sculptures, earthenware, or porcelain services: Storage per day / Item | 2 euros + VAT
(iii) Transfer rates for small-sized lots between facilities: Cost of 15 euros + VAT.
(iv) Transfer rates for medium-sized lots between facilities: Cost of 25 euros + VAT.
(v) Transfer rates for large-sized lots between facilities: Cost of 50 euros + VAT.
c) - If there is a positive balance from the sale of the lot(s), it will be transferred to the bank account (IBAN) that the buyer specifies.
d) It is expressly agreed between the "PCV" and the Buyer that if the latter, within a period of 60 (sixty) days, does not proceed with the collection of the items, the "PCV" can freely sell the items in question by any of the means provided in this Contract and for a minimum price that covers at least the amount paid by the Buyer and the expenses incurred and borne by the "PCV" for the removal, transfer, and handling of lots between facilities, storage, or insurance of the item as applicable. If the item is still not sold within 30 (thirty) days thereafter, the "PCV" is hereby expressly and unconditionally authorized to sell the item for the best offer received.
Article 15 - "PCV" Responsibility
Any loss or damage, including theft or robbery, involving an item won and not collected, occurring within the 10 (ten) days referred to in Article 11 of this Division, only entitles the buyer to receive an amount equal to what was paid up to that moment for the item, with no right to any compensation, indemnity, or interest.
Article 16 - Consequences of Non-Full Payment of Any Item by the Buyer
a) If the buyer does not proceed with the payment of the total sale amount within 10 (ten) working days from the date of the last auction session, the "PCV" may, at any time, by itself and/or on behalf of the seller, and without the buyer being able to demand any compensation or indemnities for such fact:
(i) initiate legal action for the collection of the total sale amount; or
(ii) notify the buyer of the termination of the sale contract.
(iii) Re-sell the lot in question or arrange for it to be sold again, at auction or by private negotiation, in which case the defaulting Buyer must pay the "PCV" any amount that remains outstanding with reference to the Total Amount Due (after deduction of any partial payment that has taken place and addition of additional costs arising from the respective sale), the defaulting Buyer being entitled to any remaining balance, if applicable.
b) The preceding alternatives should be understood without prejudice to any other rights that the "PCV" may hold, including the right to claim the payment of interest and the expenses of removal, storage, and/or insurance of the item as applicable.
c) The fact that the "PCV" initially opts for the possibility provided in sub-paragraph (i) of paragraph a) of this Article should be understood without prejudice to the right to, at any time, terminate such action and opt to resolve the sale contract according to sub-paragraph (iii) of paragraph a).
d) In the case of termination, in the scenario provided in sub-paragraphs (ii) and (iii) of paragraph a) of this Article, the "PCV" will have the right to keep any amounts received from the buyer as partial payment (accepting the buyer that, for this purpose, any partial payment may be considered as a deposit) and also to receive, as compensation, the commissions that would have been due by the seller and the buyer in case of compliance with the contract by the latter, as well as to remove, store, and insure the lot or lots at the expense of the defaulting Buyer, with the "PCV" deciding whether the storage will occur in its warehouses or others of its choice.
e) In the case of a Buyer who has several lots/items on an invoice, these can only be collected in their entirety after full payment of the same. The "PCV" reserves the right to retain that or another lot sold to the defaulting Buyer in the auction in question, or in another, and release it only after the payment of the Total Amount Due.
f) To reject or ignore any bid made by the defaulting Buyer or by someone else on their behalf in any subsequent auction or to request and obtain a deposit as a guarantee, from the defaulting Buyer before accepting or considering any bid presented in the future.
II.IV. "PCV" RESPONSIBILITY
Article 17 - Responsibility for Descriptions
a) The "PCV" is responsible for the accuracy of the descriptions (understood as references to the period, style, author, materials, and state of conservation) of the items described in its catalogs, without prejudice to the ability to correct them publicly and verbally until the moment of sale.
b) All items offered for sale by the "PCV" that are made of precious metals comply with the provisions of Law No. 98/2015, of 18 August (Legal Regime of Jewellery and Assay Offices) and Decree-Law No. 44/2016, of 17 August, being properly hallmarked whenever legally required.
c) All items offered for sale by the "PCV" that incorporate materials from protected wild fauna and flora species have been previously certified in accordance with the provisions of CITES - Convention on International Trade in Endangered Species of Wild Fauna and Flora. Under applicable legislation, the respective buyer must request a new registration in their name from the competent authority.
Article 18 - Condition and Special Cases
All items are sold in the condition they are in, with potential buyers responsible for personally verifying, through prior examination of the item, the accuracy of the catalog description, particularly regarding any restorations, missing parts, or defects mentioned therein, and also requesting a more detailed condition report of the item's state prior to the sale, considering the following:
a) The "PCV" is not responsible for the condition, functioning, and authenticity of electrical or mechanical equipment, including watches, lamps, electrical devices, cameras, music boxes, etc., even if described as working;
b) The mention of signatures, names, initials, marks, or acronyms on an item and their mere factual transcription in the respective description does not imply attribution of authorship by the "PCV" unless such authorship is expressly assumed at the beginning of the description or is accompanied by a certificate of authenticity issued by the "PCV" or an official entity with this right.
c) The mentioned condition report should be requested by 4 pm (GMT):
(i) On the day of the Live/Online Auctions (in-person);
(ii) On the day the Online Auctions end.
Article 19 - Flaws in Descriptions
Should there be a discrepancy between the description and the actual condition of the item at the time of the sale, the buyer (or their legal successor) may, within a period of 3 (three) years from the date of the sale, request the return of the total sale amount by returning the item in the condition it was in at the time of the sale, without, however, being entitled to any compensation, indemnity, or interest.
Article 20 - Burden of Proof
Within the legal limits, it is up to the buyer to demonstrate the existence of a relevant discrepancy between the description and the actual condition of the item, for the purposes and effects of the previous Articles.
Article 21 - Support Expertise
The "PCV" may require the complaining buyer to present a written exposition, accompanied by an appraisal signed by an accredited official entity or a recognized expert in the national or international market, without prejudice to its right, in any case, and at any time, to counter the presented appraisal with another of equivalent value.
Article 22 - Photographs
a) The photographs or representations of the item in the catalog are intended exclusively for the identification of the item subject to sale.
b) The Buyer grants the "PCV" the right to use the texts, photographs, illustrations, or others referred to in Article 23 of Division I.III, of these Business Conditions, at its initiative, at any time after the Auction.
Article 23 - Third-Party Claims
The "PCV" is not responsible to the buyer for any item that, due to a fact attributable to the seller or a third party, becomes the subject of claims or demands by third parties and/or is seized, provisionally or definitively, by the competent authorities, regardless of when the respective claim, demand, or seizure was determined or effected, and the nature or amount of any damages, losses, or harm that may arise for the buyer from such fact, which should be claimed by the buyer directly from the seller or the causing third party.
Article 24 - Restrictions on Transmission, Export, and Similar
The "PCV" is also not responsible to the buyer for any item that is prevented from leaving the country or subject to any other burden, charge, or restriction, particularly regarding possession, use, enjoyment, or transferability, including under the legislation protecting cultural heritage, regardless of when the respective classification, inventory, or listing was effected, and the nature or amount of any damages, losses, or harm that may arise for the buyer from such impediment, which should be claimed by the buyer directly from the seller or the causing third party. Similarly, it is the buyer's responsibility to inform themselves about (and, if applicable, obtain) any (i) licenses and other formalities or restrictions on export, from Portugal to the intended destination country of the buyer; and (ii) licenses and other formalities or restrictions on import in the intended destination country of the buyer - e.g., certain countries impose restrictions on the import of goods incorporating plant or animal elements.
Article 25 - Limitation of Liability
Except in cases of intentional misconduct and without prejudice to legally required insurance, any potential liability of the "PCV" to the buyer is, in any case, limited to the amount actually paid by the latter for the acquisition of the item.
III. GENERAL CONDITIONS COMMON TO SELLERS AND BUYERS
Article 1 - Independence
The "PCV", its shareholders or legal representatives or their spouses, ancestors or descendants, do not act, under any circumstances, in their own name as sellers or buyers of the goods placed in auction.
Article 2 - Authorization for Publicity
The seller and the buyer expressly authorize the "PCV" to photograph, publish, advertise, and use, in any form and at all times, for commercial, cultural, academic, or other purposes, related or not to the holding of the auction, the image and description of all the goods that have been placed in auction through it.
Article 3 - Prevention and Combat of Money Laundering and Terrorism Financing
a) Under the terms of Law No. 83/2017, of 18 August, and Regulation (EU) No. 314/2018, of 25 May, the "PCV" is subject to compliance with the general duties of AML/CTF, including, in particular, the duty of identification and due diligence (Article 23 and following of the Law and Article 5 of the Regulation) which is required for the establishment of business relationships, as well as for carrying out occasional transactions of an amount equal to or greater than €15,000 (fifteen thousand euros), regardless of the form of payment and whether the transaction is carried out through a single operation or several operations that appear to be related to each other.
b) Within the scope of the aforementioned Law No. 83/2017, of 18 August (as amended by Law No. 99-A/2021, of 31/12), Palácio do Correio Velho, S.A. informs all its Clients and partners that it conducts strict control in the application of measures to combat money laundering and terrorism financing, adopting internal control measures, identification measures of operations as referred to in the said Law, direct communication with the competent public entities, and others defined therein.
c) All Clients of Palácio do Correio Velho, S.A. will have to comply with the obligations set out in the Law, named but not exclusively, the provision of data mentioned in the said Law, more specifically when required, identification of the beneficial owner and others that are required under the terms of the Law which can be consulted on the ASAE website (https://www.asae.gov.pt/espaco-publico/formularios/perguntas-frequentes1/regulamento.aspx).
Article 4 - General Data Protection Regulation (GDPR)
a) Under the terms and for the purposes of the GDPR and according to the Privacy Policy to which it is bound, and to which reference is made, PALÁCIO DO CORREIO VELHO commits to processing personal data lawfully, with respect for the principle of good faith and with absolute confidentiality, ensuring that the personal data collected are adequate, relevant, and not excessive in relation to the purposes for which they are collected and processed.
b) The Buyer or Seller expressly and clearly consent to the processing of their personal data under the terms of Law 67/98, of 26 October, this processing being within the scope of the exemption authorization No. 3/99 (National Commission for Data Protection).
c) The personal data of the Buyer or Seller will be collected and processed for the purposes of processing the contractual obligations of PALÁCIO DO CORREIO VELHO, as well as sending information about auctions and/or other events organized by PALÁCIO DO CORREIO VELHO, and sending promotional information from PALÁCIO DO CORREIO VELHO.
d) The Buyer or Seller have the right to access and information regarding their personal data.
e) To access their personal data and request its amendment, rectification, or deletion, the Buyer or Seller may do so by sending a letter to Calçada do Combro, 38 A - 1º - 1200-114 Lisbon or an email to
[email protected].
Article 5 - Complaints Book
The "PCV" provides a complaints book, in legal terms, in both physical and electronic formats.
Article 6 - Jurisdiction
a) For the resolution of any conflict between the parties regarding the interpretation or validity of the contract, including these Business Conditions, as well as regarding its execution and compliance, the jurisdiction of the Lisbon district court will be exclusively competent.
b) In case of dispute, the consumer may resort to an Alternative Dispute Resolution Entity for Consumer Disputes, under the terms of Law No. 144/2015, of 8 September (as amended by DL No. 9/2021, of 29/01):
Lisbon Consumer Conflict Arbitration Centre: http://www.centroarbitragemlisboa.pt/
Vale do Ave Consumer Conflict Arbitration Centre/Tribunal Arbitral: http://www.triave.pt/
CIAB - Consumer Information, Mediation, and Arbitration Centre (Consumer Arbitral Tribunal): http://www.ciab.pt/en/
CNIACC - National Centre for Information and Arbitration of Consumer Disputes: https://www.cniacc.pt/en/
Coimbra District Consumer Conflict Arbitration Centre: http://www.centrodearbitragemdecoimbra.com
Algarve Consumer Information, Mediation, and Arbitration Centre: http://www.consumoalgarve.pt
Porto Consumer Information and Arbitration Centre: http://www.cicap.pt;
More information at the Directorate-General for Consumer Affairs (https://www.consumidor.gov.pt/).
IV. CONDITIONS RELATING TO ONLINE AUCTIONS AND ONLINE PARTICIPATION IN LIVE/ONLINE (IN-PERSON) AUCTIONS
The preceding Business Conditions apply to Online Auctions and online participation in Live/Online (in-person) Auctions, with the following adaptations and modifications, resulting from their specificity:
Article 1 - Platforms
The "PCV" organizes auctions exclusively online, on the "PCV" website, at www.pcv.pt - hereinafter referred to as the Digital Platform www.pcv.pt. The "PCV" also allows online participation (including bidding) in its Live/Online (in-person) Auctions, through its digital platform www.pcv.pt; and on other platforms managed by third parties - hereinafter referred to as "Partner Platforms", such as Invaluable, Bidspirit, and others.
Article 2 - Online Auction Catalogs
The catalogs with images and descriptions of the items that are part of the Online Auctions are only available in digital version on the digital platform www.pcv.pt.
Article 3 - Online Registration
a) To be able to bid in an Online Auction, a potential buyer must be of legal age and register in advance on the Digital Platform www.pcv.pt, or on other "Partner Platforms", filling in the mandatory fields with their name, address, taxpayer number, telephone contact, and email, and declaring to know and accept these Business Conditions;
b) To be able to bid online in a Live/Online (in-person) Auction, a potential buyer must register in advance on the Digital Platforms www.pcv.pt or on other "Partner Platforms" - where the auction in question has been made available by the "PCV", complying with the rules and binding themselves to the terms and conditions of such platform. By doing so and by issuing bids in a Live/Online (in-person) Auction of the "PCV", the potential buyer also accepts to be bound by these Business Conditions, which will prevail, in case of contradiction, over the terms and conditions of such platform;
c) The password chosen and other means of authentication at the time of registration on the Digital Platform www.pcv.pt or on other platforms managed by third parties must be kept confidential by the potential buyer, who is responsible for any unauthorized access to their account;
d) The "PCV" reserves the right to cancel or suspend the registration of those who have not timely fulfilled their obligations, namely payment and collection of one or more items, in previous auctions.
Article 4 - Purchase Orders and Bids in Online Auctions
a) In the Online Auctions of the "PCV", only purchase orders and online bids through the Digital Platform www.pcv.pt will be accepted, and the bidder and potential buyer must register according to paragraph a) of the previous Article;
b) Only purchase orders and bids of a value equal to or higher than the base value of each item will be accepted;
c) Online purchase orders for a specific item will be automatically executed by INVALUABLE at the best price allowed by any other purchase orders or online bids possibly received for the same item;
d) The increments of online bids follow an increments table:
€0.00 - €49.00 | €5.00
€50.00 - €99.00 | €10.00
€100.00 - €399.00 | €20.00
€400.00 - €999.00 | €50.00
€1,000.00 - €4,999.00 | €200.00
€5,000.00 - €9,999.00 | €500.00
€10,000.00 - €19,999.00 | €1,000.00
€20,000.00 - €49,999.00 | €2,000.00
€50,000.00 - €99,999.00 | €5,000.00
€100,000.00 - + | €10,000.00
e) The purchase orders and online bids received and accepted by the "PCV" are confidential;
f) The bidder and potential buyer accept that their purchase orders and bids on the Digital Platform www.pcv.pt, once accepted, may be cancelled or revoked only up to 2 hours before the start of the auction, limited to 3 cancellations per auction (https://www.pcv.pt/my-account/current-bids).
Article 5 - Absence of the Right of Free Resolution
The online buyer in Online Auctions or Live/Online (in-person) Auctions acknowledges that, by making a purchase at auction and having had the opportunity to inspect the item beforehand, they do not benefit from the right of free contract termination provided for in the legislation regulating distance contracts. As the only exception to the above, the buyer who is a consumer may have a right of free termination only in the case of Online Auctions, whenever the seller of the item in question is a professional and the other conditions and requirements legally provided for are met.
Article 6 - Liability
a) The "PCV" Platform for Online and or Live/Online (in-person) auctions at www.pcv.pt operates, in all phases (including, without limitation, registration, access to the account by registered users, management of purchase orders made and bids placed, determination of the winning bid, and communication with registered users) in a fully automated manner. The "Partner Platforms" also operate in at least a partially automated manner. There may be periods of unavailability on the said Digital Platforms www.pcv.pt, as well as on the "Partner Platforms" and/or problems and errors in their operation, which can be caused by multiple factors, including, in particular, internet connection problems, overload, viruses and cyber attacks, and programming inconsistencies and errors - hereinafter referred to as "Platform Operating Problems";
b) In the case of Online Auctions, the "Platform Operating Problems" at www.pcv.pt may compromise the holding of one or more Online Auctions or affect, within a specific auction, one or more lots; similarly, Platform Operating Problems can affect all users, a group of users, or just a specific user in particular, who may, for example, not be able to register, not be able to access their account, not be able to place a bid, place a bid that is not taken into account, or not receive certain communications (for example, of being outbid) or receive incorrect communications;
c) In the case of Live/Online (in-person) Auctions, the "Platform Operating Problems" at www.pcv.pt or of a "Partner Platform" may lead to one or more users not being able to register, not being able to access their account, not being able to place bids, place a bid that is not taken into account, or not receive certain communications (for example, of being outbid) or receive incorrect communications. Therefore, whenever a potential buyer wants to ensure the effective bidding of a specific or certain items, they should attend and bid in person or through telephone bidding at the respective auction, considering the "PCV" that the presence of the potential buyer is, in any case, the most appropriate way to safeguard their interests;
d) Neither the "PCV", nor its representatives, workers, or collaborators can, under any circumstances, be held liable for any "Platform Operating Problems";
e) In the event of a "Platform Operating Problem" at www.pcv.pt, the "PCV" may, but is not obliged to, repeat the affected Online Auction or re-list the affected items in a new Live/Online (in-person) or Online Auction. In the event of a "Platform Operating Problem" at www.pcv.pt or of a "Partner Platform" in an in-person auction, it is up to the auctioneer to decide with total discretionary power on any doubts that occur. They may at any time during the course of the auction, put the item back up for sale following the last bid occurred, choose to restart the bids at the base value, or, as a last resort, withdraw the item from auction thus cancelling its sale.
