Tuesday, February 9, 2010

Before you are bidding at auctions, are you checking last minutes Sales Condition?

Before you are bidding at auctions, are you checking last minutes Sales Condition? One of the example, just be careful otherwise you can burn, read it:
Conditions of Sale:
These Conditions of Sale constitute Auction Gallery of the Palm Beaches, Inc.'s (herein referred to as the "Gallery") and Consignors' entire agreement with purchasers with respect to all property offered for sale by the Gallery in its catalogues. These Conditions of Sale are the complete and only terms and conditions on which all property is offered for sale.
1. All Property is sold "AS IS." Neither the Gallery nor the Consignor makes any guarantees, warranties or representations, expressed or implied, with respect to the description, authorship, authenticity, merchantability, fitness, value, physical condition, size, quality, rarity, importance, provenance, exhibitions, literature or historical relevance of any property offered for sale or the correctness or accuracy of any catalogue provided by the Gallery. No statement anywhere, whether oral or written, shall be deemed such a guarantee, warranty or representation. Prospective bidders should inspect the property before bidding to determine anything that may be of significance to them, including, without limitation, the property's condition, size, authenticity, value and whether or not it has been repaired or restored. The Gallery and the Consignor make no representation or warranty as to whether the purchaser acquires any reproduction rights in any property.
2. However, if within 30 calendar days after the sale of any lot the purchaser gives notice in writing to the Gallery that the lot is counterfeit and within 14 calendar days after such notice the purchaser returns the lot to the Gallery in the same condition as when sold, and the purchaser, also within 14 calendar days after such notice, demonstrates to the Gallery' satisfaction, by providing properly executed and notarized affidavits by two (2) recognized scholars or experts in that particular field in which the lot is categorized, that it is counterfeit, the Gallery will refund the full purchase price.

This means, you have to be hurry, just after sale you should pick up your item that day and try to find expert of your purchased artwork, 1 is not enough, has to be 2 and just in 30 days, if something fake, if you learn your Picasso is fake after you hanged on your wall maybe somebody or your guest told you is not right then you have to find a expert but if 30 days past, you are burned, you will have fake Picasso. Remember, this Sale Condition is formatted for most auction houses and they are mostly using this article. Be more careful small auction houses, which is if people wants to sell their fake items, usually they choose small auction galleries, because of small auction galleries they have no choice they need merchandise to sell and they are taking this risk with low market value estimations.

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