AUCTION HOUSEDutch Auction

Auction rules

DUTCH AUCTION REGULATIONS 

I

1. The objects of the auction are works of art and handicraft entrusted by the Customers and owned by the Auction House.   

2. All the objects sold in the auction have their photos placed on the Internet; they can also be seen on the spot at the seat of Rempex Auction House. 

3. The Auction House is authorized to withdraw objects from the auction without giving reasons and shall bear no responsibility connected with the fact.  

4. An organization fee of 20% is added to the final price of the bidding. This fee also applies to post- auction sale.    

5. In case of objects marked with an asterisk (*), the final price ( i.e. the auctioned sum together with  organization fee) shall include a payment of droit de suite  of 5%. 

II

1. The persons authorized to participate in the bidding are those who have registered in the system of Dutch auctions and accepted auction regulations. The organizers do not require a deposit payment from the participants in the auction.      

2. The Auction House is authorized to remove the users or suspend them by preventing them from taking part in the online auction, if the action of the users is in violation with the regulations,  in particular if the users do not fulfill their obligations ( do not buy auctioned goods). 

III

1. The gradual lowering of the price is as follows: the first price is a price lowered to 20% in relation to the initial price. The following decrements of the price total ca. 5% of the initial price and take place 7 days after the moment of the publication of the item on the website of the Dutch auction at the earliest,  always on Thursdays at 14 p.m.   

2. Individual objects presented at the dutch auction may have a reserve price below which weekly price reductions will not be continued.

3. The buyer is the person who offers the current price. The ending of the auction takes place in the moment of buying the object by selecting the option buy now and by confirming making of the transaction.  

IV

1. The buyer is obliged to purchase the object within 5 days after the end of the auction. The payment of a deposit of 20% of the auctioned price is acceptable. The remaining sum should be paid within 10 days after the end of the auction. In case the deadline is not observed the deposit shall not be returned.    

2. In case of not purchasing the objects in the time provided for in the regulations, the Auction House is authorized to resume the sale of the object in the Dutch auction. The resumption of the sale does not cause the resignation of the Auction House from the claims in relation to the Buyer owing to opportunity costs. 

3. The right of ownership of the purchased good is transferred on the Buyer at the moment of making the payment.  

V

1. The Auction House guarantees authorship and other characteristics included in the description of the offered objects. However, if the description proves different from reality, the Buyer has the right to return the object to the Auction House within 14 days of the date of the Auction, and the Auction House shall return the complete payment which has been made.  Questioning the catalogue description must be documented by a reliable expertise.   

2. The Auction House shall not bear responsibility for the physical and legal faults of the purchased objects.  

VI

1. The organizers of the auction shall not bear responsibility for the problems connected with the participation in the online Dutch auction caused by factors independent from Rempex Auction House, in particular internet or telephone failure  – domestic or international , or any other faulty equipment, which is not the property of the organizers and for which they don’t bear any responsibility.

The Auction House wishes to remind all the interested persons that according to the rules and regulations on the transport of objects older than 55 years whose worth exceeds the limits provided for in the Law on the Protection of Old Monuments beyond the borders of Poland, a permission of the relevant authorities is required. We would also like to remind the interested persons that in accordance with the binding rules and regulations, the Auction House is obliged to collect personal data of the customers who make transactions exceeding the amount of 15 000 Euro.