HomeBuying & SellingTerms and Conditions
BUYING & SELLING

The following provisions are entered into by and between Kingsley Art Auctions (hereinafter referred to collectively as "the Company"), as the auctioneer, and the Seller (hereinafter the "Seller"). The Agreement is also entered into by and between the Company as the agent of the Seller and the Buyer (hereinafter the "Buyers"). Both the Buyer and the Seller shall review and accept all provisions hereunder.

Agent
The Company, as the auctioning party, shall act as the agent of the Seller. Except otherwise provided, items successfully sold in the action held by the Company shall be bound by the agreement made by and between the Seller, through the agency of the Company, and the Buyer.
Before the auction
  1. Authentication
    We strongly recommend that the prospective buyers conduct their own authentication for the items they are interested in bidding prior to the action. We provide no guarantees to the buyer (with the exception of the guarantee with regard to counterfeits as defined of the Agreement).
  2. Catalogue Explanations
    Any statement of the author, history, date, year, size, material, ownership, authenticity, origin, condition of preservation or estimated selling price of any of the Lots shown in the catalogue or the authentication opinion made by the Company, or any other verbal or written statements made separately shall be solely statements of opinions and shall not be deemed the basis for the statements of actual fact. The photographs shown in the catalogue shall serve as reference only and shall not be deemed as the basis for determining the color or tone of any Lot or disclosure of the defects of such items. The estimated of the auction price shall not be deemed as the price at which such item will be successfully sold or the statement of the value of the item for other purposes. Many auction items fail to maintain their perfect condition because of time and other environmental factors. Some of the explanations in the catalogue or the authentication opinions will state defects and/or the repair background of the Lots. Such information is meant for reference only. Missing information in the statements does not mean the Lot has no defects or has not been repaired any statement of the one particular defect does not mean there is no any other defect.
  3. Responsibility of the Buyer
    The Buyer is responsible for clarifying and satisfying himself/herself about the condition of the items and any related matters stated in the catalogue descriptions.
During the auction
  1. Refusal of admission
    The company has the right, at our own discretion, to refuse admission to the premises or participation in any auction and to reject any bid.
  2. Registration before bidding
    A prospective buyer must fill in and sign the registration forms prior to the bidding and provide personal identification. Prospective buyers should also note that the Company may be requested to conduct credit checks against buyers.
  3. The bidder is the Buyer
    Unless a written agreement has been made upon registration that the bidder will be the agent who acts on behalf of a third person and such third person is accepted by the Company, the bidder will be deemed as the Buyer who will bear individual legal responsibilities.
  4. Absentee bids
    The Company will make proper effort to bid for the prospective buyers who instruct us to bid on their behalf by using the forms attached to the catalogue. Written bids form should be delivered to the Company prior to the auction. If we receive written bids on a particular lot with the bid amounts from interested parties, the lot will be sold to the person with the highest bid during the auction. Execution of written bids is a free service undertaken subject to other commitments at the time of the sale and we do not accept liability for failing to execute a written bid or for errors and omissions in connection with it.
  5. Telephone bids
    The Company will make proper efforts to contact the bidder to participate in the auction by phone. The prospective buyer should request such arrangements prior to the auction. However, the Company will bear no responsibilities to the Seller or any prospective buyer if no contact is making under any circumstances.
  6. Currency converter
    The currency converter will be utilized on the day of auction. Errors may occur in the operation of the currency converter and we do not accept liability to bidders who follow the currency converter rather than the actual bidding in the saleroom.
  7. Video or digital images
    The image projection will be made at the auctions; however, errors may occur during the operation. The company is not liable for the color accuracy of the reproduced image and whether the projected image corresponds to the item being auctioned.
  8. Auctioneer's discretion
    The auctioneer reserve the absolute right to reject any bid, pushing for bids at his/her own discretion, withdraw any auction items, separate or combine two or more auction items including any error or dispute and to re-auction the items.
  9. Successful bids
    Under the discretion of the auctioneer, the highest bidder accepted by the auctioneer will be the buyer and the striking of his/her hammer comes the acceptance of the highest bid and the conclusion of a contract for sale between the seller and the buyer.
After the auction
  1. .The service fee of each lot payable by the Buyer (Modern and Contemporary Art)
    1. The Buyer should pay the hammer price and, in addition, the service fee to the Company. For hammer price below NT$16,000,000 (inclusive), the service fee should be calculated at 20% of the hammer price.
    2. For hammer price higher than NT$16,000,000 the first NT$16,000,000 should be calculated at 18% and the rest of the amount should be 12%.
  2. Taxes
    All the payments made by the Buyer to the Company do not include any commodity or service taxes or any other value added taxes (whether imposed by the R.O.C. government or elsewhere). The Buyer shall be responsible for paying any applicable taxes as required by the law.
  3. Payment
    1. All payments due (including the hammer price, buyer's premium and any applicable taxes) shall be paid within 7 days after the auction.
    2. If the Buyer fails to pay the Company of the payments due, the Buyer will not acquire the ownership of the Lot even if the Company has delivered such item to the Buyer. If the payment is made other than NT dollars, the buyer shall pay the related expense incurred, including bank charges and foreign exchange service fee.
  4. Collection, packing and shipping
    Unless otherwise agreed by the Company, the Company will hold temporarily onto the successfully sold lots until all payments to the Company are made in full. The lot will be covered by the insurance of the Company from the auction date for 7 days during the temporary holding period. The insurance coverage will terminate upon collection of such item. The Buyer should be responsible for all risks following expiration of the stated 7-day period or the collection (whichever is earlier). The Company will provide shipping company upon the buyer's request and do not accept any liability if any damage occurred by buyer's choice of his/her own shipping company.
  5. Remedies for non-payment or non-collection of purchases of purchases
    The Company is entitled to exercise one or more of the following rights or remedies if the Buyer fails to make payment within 7 days.
    1. An interest at the monthly rate of no higher than 4% plus the base interest rate will be imposed on all of the payment due if payment is not made within 7 days following the auction date. The payment to be made by the Buyer should offset any payment owed by the Company or its subsidiaries to the Buyer for any other transactions.
    2. The Company reserves the right to refuse the Buyer to make on behalf of others, bids in any future auctions and/or to require a deposit from the Buyer before accepting any future bids made by the Buyer. If the Buyer fails to make payment within 35 days, the Company is entitled to exercise the following rights in addition to the aforementioned.
    3. To take legal action to the Buyer on behalf of the Seller to claim the entire payment due and the legal fees resulting from such legal action based on a total claim.
    4. To cancel the transaction of Lots bid by the Buyer or any other auction items sold to the Buyer at the same or any other auctions.
    5. To arrange a public or private re-sale of the Lot. If the reselling price is lower than the payment, the differences and other expenses shall be buyer’s responsibility.
  6. No collection of the purchases
    The Company will arrange for the storage of the Lot if such item sold is not collected within 7 days of the item, regardless payment is made or not. Such storage cost will be borne by the Buyer.
  7. Export permit
    Unless otherwise agreed by the Company in written, the process of applying the export permit does not affect the Buyer's responsibility to make the payments within 7 days. If the Buyer requests the company to apply the export permit on his or her behalf, the Company is entitled to charge the related expenses.
The legal responsibility of the Company
The company is responsible for returning payment to the Buyer pursuant to Article 6. otherwise, whether the Buyer, the Company, any employees or agents of the company will not be held liable for any statements of the author, history, date, year, ownership, authenticity or origin of any auction item or any errors with respect to any explanations and any flaws or defects of any auction item. The Buyer, the Company makes no guarantee with respect to any auction items. Any warrantee of any kind shall not be included herein.
Return of payments for forgery
If the buyer considered the lot as a forgery, he/she should inform the Company in written notice within 14 days. The written comment should follow the instructions below so the transaction can be cancelled and payments made can be returned to the Buyer with no interest applied. No other compensations can be requested.

  1. The written report should be provided by two individual authorities and approved by the Company.
  2. The Buyer must return the Lot to the Company within 21 days from the day of purchase and the condition must remain the same from the sold date.
  3. The Buyer has absolute right to the Lot and the Lot is free from the third party rights of claims.
  4. The Company will refund the Buyer after receiving other expenses from the Seller.
The agent
The Company acts as the agent of the Seller at a public auction. The Closing Contract of the Lot is the agreement by and between the Buyer and the Seller.
Expenses
  1. The Seller shall bear costs including packing, shipping, storage, insurance, catalogue, framing, mounting, repair, and tax.
  2. The company will deduct from the hammer price at a regulated rate as the commission and expenses to the bidders and to buyers under private sales.
Insurance
  1. The company will collect 1% of the hammer price from the Seller or 1% of the reserved price if the Lot is not successfully auctioned. If the company arranges the shipping, the Company will collect an additional amount from the Seller as the shipping insurance, such amount varies from the individual condition of each auction item. The company will refer a cargo company if necessary to the seller. However, the Company will not be responsible for any legal responsibilities.
  2. The Lots will remain insured up to 7 days after the sale. If the Lot has not been sold, it will be at the Seller's risk upon the expiry of 7 days.
  3. We are unable to accept responsibility for any damage caused by woodworm or weather conditions
Insurance purchased by the Seller
If the Seller informs the Company specifically that it is unnecessary to purchase insurance on the Lot, seller will have to acknowledge the risks until the Buyer makes all the payments. The Seller must reimburse the Company, employees and agents of the Company and the Buyer (if applicable) any claims in connection with the auction under any circumstances.
Commitments made by the Seller on the Lot
  1. The Seller is the only owner of the Lot and has the unlimited right to assign his/her ownership to the Buyer, and should not interfere with any third party rights or claim (including copyright claims).
  2. The Seller must comply with the law regarding imports and exports, and should notify the Company if any third party fails to fulfill the condition.
  3. The Seller has notified the Company in writing of any major modifications in the Lot to the best of his knowledge and any concern the third party to the ownership of the Lot and the condition.
  4. In the event of any inaccuracy of the above mentioned, the Seller must guarantee, if requested, to return fully the Company and/or the Buyer all the claims, costs and expenses whether caused by the Lot or the auction proceedings.
Auction arrangements
  1. The Company has its discretion over the description of the auction in the catalogue, display layout, authentication opinion, location and method of the auction. We will be allowed to bid and to accept bid price in our will, also to seek profession opinion and to combine or separate the Lots if applicable. The Company reserves the right to withdraw the lot without obtaining the consent of the Seller.
  2. If the Company or the Seller withdraws the Lot, the Company may charge 10% of the asking price from the Seller.
Auction Rules
The Company will auction the item according to its set price. The set price may not be higher than the minimum of the estimates set in the catalogue. The Company is entitled to auction the item at a price lower than the set price, if the lot is sold according to the above principle; the Company is responsible to compensate the Seller for the difference between the closing price and the set price.
After the successful auction
  1. Settlement
    After buyer makes the payment, unless the Company receives a forgery notice from the Buyer (as defined in the Agreement), the Company will pay the Seller within 45 days from the day of auction, and will deduct all expenses from the closing price. If the Buyer delays the payment, the Company will pay the Seller within 7 days after receiving payment from the Buyer. If for any reason the Company pays the Seller before the Buyer makes the payment, the Company has full ownership of the item. However, if the Company is forced to reclaim the Lot from the Buyer because such item is a counterfeit, the Seller must return the auctioned price to the Company. Unless otherwise instructed by the Seller in written notice, the Company will make payments only in NT dollars. If the Seller requests to pay other currencies, the Company will collect any foreign exchange expenses accordingly.
  2. Non-payment from the Buyer
    If the Buyer fails to pay for the amounts due within 35 days following the auction day, the Company is entitled for negotiating terms in connection with the payment, storage, and insurance on behalf of the Seller and act necessary to collect payments payable from the Buyer. However, the Company is not responsible for making settlement to the Seller or for bringing any legal actions on behalf of the Seller. The Company will discuss with the Seller to take legal actions to claim auction payments from the Buyer.
  3. Forgery
    If the Buyer convinces the Company that the Lot is a forgery (as defined in the Agreement) within 14 days following the auction day, then (1) the Company is entitled to call off the transaction if the Buyer has not paid all or part of the payment, or (2) If the Company has paid all or part of the payments to the Seller, the Seller must return all of the payments if requested. The Company could exercise a lien on unpaid costs so that any items belonging to the Seller under the Company will be kept as security until all payments are returned from seller.
  4. Unsuccessfully auctioned items
    The Seller must collect any item that is not auctioned, whether it is included in the auction or withdrawn from the auction for any reason within 35 days upon notification by the Company to the Seller. A storage fee of NT$500/day will be charged on each item not collected after a 35- day period with an additional charge of insurance coverage. The Company may dispose the Lot if it is not collected within 90 days following the auction date or the notice date (whichever is the earlier). Such disposal includes removing the item to a third party which seller will be accountable for any expenses (including terms regarding estimates and set price), The Company will compensate the Seller after deducting all expenses after the open auction. The Company is authorized to act as the sole agent of the Seller within 30 days following the auction for item that is withdrawn or not sold from the auction.
    The Company may auction in private for the item based on the net amount the Seller may receive (the amount after deducting all the expenses) or sell at a lower price agreed upon by the Company and the Seller in private. Under any circumstances, the Seller's responsibility and liability will be equivalent whether his/her item is open or private auctioned.
Photography and Display
The Company owns non-exclusive rights to the photographs, recordings and other reproduced images of the Lot. All the rights of such images shall belong to the Company and the company is entitled to use such images in any manner if deemed appropriate.
Other matters
TaxAll import taxes; service taxes and any other taxes are not included in the payments made payable to the Company from the Seller. Seller must pay for any tax in accordance to the regulation and law under all conditions.
Copyright
The copyright of all the images, photographs and written descriptions in connection with the Lot belong to the Company at any time. The Buyer or any person may not use such items without obtaining a prior written consent from the Company.
Notices
All the notices that are relevant to the Transaction Agreement shall be made in written notice. Any notice shall be delivered to the recipient on the following day. If the recipient is abroad, the notice shall be delivered within 5 business days.
Severability
If court deems any part of the Transaction Agreement invalid, illegal or unenforceable, such part can be overlooked and the rest of Transaction Agreement remains valid and enforceable to the maximum extent permitted by the law.
Jurisdiction
The Transaction Agreement is governed under the R.O.C. law and any interpretation and effect of the rules shall be subject to the R.O.C. laws. The Buyer and Seller shall respect the jurisdiction of the Taiwanese court for the interests of the Company. (The Chinese version shall direct any inconsistency between the English and Chinese versions of the terms and conditions.)
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