Terms and Conditions of Sale The buyer’s premium is 30 per cent. Items created by artists entitled to resale rights will be subject to an additional statutory levy of 4 per cent 1. Nature of the service: Stanley’s Auction is commissioned by the consignor to offer an item for sale in a condition that has been verified by the buyer during the exhibition. Stanley’s Auction does not sell the item itself but acts as an intermediary between the seller and the buyer, and accepts no liability whatsoever regarding the nature, provenance or condition of the item. 2. Capacity: The consignor warrants that they are the rightful and legal owner of the item or the fully authorised representative for its sale. In the event of withdrawal prior to the sale, for whatever reason, the consignor is obliged to reimburse Stanley’s Auction for the seller’s commission calculated on the upper estimate. No withdrawals will be accepted from the first day of the exhibition preceding the sale. Any withdrawal enforced by a public authority will result in legal proceedings and a claim for damages against the defaulting consignor, in addition to the seller’s commission on the high estimate prior to the sale and on the hammer price after the sale. 3. The item: The consignor declares that the item consigned is available, lawful, lawfully held and, in the case of a non-European item, that it was acquired in its country of origin before 1970 and/or in accordance with all applicable regulations and legislation. Any breach or misrepresentation regarding these points shall be the sole responsibility of the consignor, who, by signing this contract, confirms that Stanley’s Auction has indeed enquired about the provenance and origin of the item and has received responses confirming the availability and lawfulness of the consigned item. Stanley’s Auction is authorised to disclose this information to the authorities and to the future purchaser. In the event of a false statement, Stanley’s Auction shall be released from all liability and reserves the right to notify the authorities of any detected fraud. Furthermore, Stanley’s Auction reserves the right to withdraw from its sale any item whose legality is in doubt and, where appropriate, to take legal action against the consignor who has provided false information. 4. Intellectual property: The consignor waives all intellectual property rights in the item and authorises the use of any illustrations or photographs of the item before, during and after the sale. 5. Reserve price: When consigning a lot, the consignor may specify a reserve price, i.e. a minimum hammer price below which the lot may not be sold. This reserve price will be indicated alongside the estimates on the consignment form. However, Stanley’s Auction reserves the right to sell the goods, at its own discretion, for an amount below the reserve price but equal to or greater than the net amount payable. In this case, the sum payable to the seller will be calculated on the basis of the proceeds of the sale that the seller would have received had the items been sold at the reserve price. No reserve may be set below €300 unless this clause is crossed out by hand and initialled by an expert from Stanley’s Auction. If the reserve price has not been met at auction, Stanley’s Auction is then authorised to negotiate a private sale at the stipulated limit and to include this lot, provided it remains in stock, in a subsequent sale, but without a reserve, unless the owner reclaims the unsold item within one month of the sale and pays a €10 insurance and administration fee. 6. Payment, commission and hammer price: In the event of a sale, the hammer price, less the commission set by the valuer or Stanley’s Auction, shall be paid to the consignor upon receipt of payment from the buyer. The sum may be paid in cash for amounts under €3,000 or by bank transfer to the BELFIUS account BE76 0689 0795 5995. Stanley’s Auction is under no obligation to pay for a lot that has not been paid for by the buyer; the buyer will then be declared a defaulting bidder 10 days after the sale. In the latter case: - either the consignor decides to take legal action against the defaulting bidder at their own expense to compel them to complete the purchase; - or the consignor asks Stanley’s Auction to put the item back on the market by private treaty or at a future auction. These instructions must be confirmed by email or post. The difference between the future sale and the original sale remains payable by the defaulting bidder. However, Stanley’s Auction is not responsible for recovering these sums; the sale is cancelled and the item is returned to the consignor free of charge. Stanley’s Auction acts solely as an intermediary between the seller and the buyer and is therefore not liable in the event of any withdrawal by either party. 7. Description and estimate: The description of the item is merely an informed opinion provided for guidance only and does not engage the liability of Stanley’s Auction sprl. Stanley’s Auction cannot be held liable for any errors or omissions revealed before, during or after the sale, as its sole role is to attempt to bring a seller and buyer together, and not to provide a definitive valuation of the item. The consignor declares that they grant Stanley’s Auction complete freedom in the description of the item. The estimate for the item is merely an opinion, and Stanley’s Auction cannot be held liable for achieving this result or for any damage whatsoever arising from the sale. The consignor declares that they wish to offer their item for sale in accordance with these estimates, which they approve of, believing them to be the most appropriate for securing the successful sale of the item. Any subsequent sale of the same item at any auction house, fair or gallery whatsoever shall not give rise to any claims against Stanley’s Auction sprl. Photographs are for illustrative purposes only. 8. Discretion to offer items for sale: Stanley’s Auction has the right not to auction one or more lots, to defer lots to subsequent auctions, or to split or combine lots. 9. Auction proceedings: The auctioneer may open the bidding on each lot by making an offer on behalf of the seller. Furthermore, the auctioneer is entitled to make successive bids on behalf of the seller, or bids in response to other bids on behalf of the seller, until the reserve price is reached. 10. Bidders must form their own opinion regarding the authenticity, condition or any other aspects of the item they are purchasing; Stanley’s valuation is provided for information purposes only, leaving the bidder to form their own informed judgement before bidding. The bidder shall bid an amount for which they are solvent, including fees, and shall do so in full knowledge of the facts, whether they are present at the sale, bidding by written proxy, by telephone or by any other means of communication. A bidder who purchases via the internet, by telephone or who submits a written purchase order is deemed to have had the opportunity to examine the lot(s), and may not under any circumstances contest the purchase should the item(s) prove to be non-compliant. Photographs and further details may be requested prior to any purchase. The bidder is deemed to have accepted the General Terms and Conditions by the mere fact of their registration and participation in the auction. 11. In the event of a dispute immediately following the award of the lot, arising from a third party’s bid not having been recognised, Stanley’s Auction has the right to re-auction the item. To this end, only the fall of the hammer confirmed by the word ‘sold’ shall mark the award of the lot. 12. Once the lot has been sold, the successful bidder assumes all risks in respect of the item. However, full transfer of ownership shall take place upon receipt of payment for the lot sold. 13. The amount payable by the buyer shall be the hammer price plus 30% (including VAT). Where the lot is subject to resale royalty, an additional 4% of the hammer price shall be charged. 14. The lot must be paid for and collected during the week following the sale. Thereafter, a storage fee of €10 per day will be charged, unless an extension is granted by Stanley Auction sprl. Risk passes to the buyer upon the award of the lot. 15. As Stanley Auction sprl is subject to the special margin scheme, no VAT is payable. 16. Any dispute shall be settled before the courts of Brussels