Whytes On-line Art Auction 11 March 2015

TERMS AND CONDITIONS OF SALE

Whyte & Sons Auctioneers Limited, trading as Whyte’s, exercises all

reasonable care to ensure that all descriptions are reliable and accurate, and

that each item is genuine unless the contrary is indicated. However, the

descriptions are not intended to be, are not and are not to be taken to be,

statements of fact or representations of fact in relation to the lot. They are

statements of the opinion of Whyte’s, and attention is particularly drawn to

clause 5 set out below.

Comments and opinions, which may be found in or on lots as labels, notes,

lists, catalogue prices, or any other means of expression, do not constitute

part of lot descriptions and are not to be taken as such unless they are made

or specifically verified by Whyte’s.

Clause 1

(a) Each lot is put up subject to any reserve price imposed by the vendor

(b) Subject to sub-clause (a) of this clause, the highest bidder for each lot

shall be the buyer thereof

absolute discretion to determine the dispute and may put up again and re-

sell the lot in respect of which the dispute arises

Clause 2

(a) The bidding and advances shall be regulated by and at the absolute

discretion of the auctioneer and he shall have the right to refuse any bid or

bids. NOTE: Where an agent bids, even on behalf of a disclosed client, the

auctioneer nevertheless has the right at his discretion to refuse any such

bid.

(b) The buyer of each lot shall immediately on its sale, if required by the

auctioneer, give him the name and address of the buyer and pay to Whyte’s

at his discretion the whole or part of the purchase money. If the buyer of

any lot fails to comply with any such requirement Whyte’s may put up

again and resell the lot; if upon such re-sale a lower price is obtained than

was obtained on the first sale the buyer in default on the first sale shall

make good the difference in price and expenses of re-sale which shall

become a debt due from him.

shall be personally liable for payment of the purchase money to Whyte’s

and for safe delivery of the lot to the said client.

Clause 3

(a) Whyte’s reserves the rights to bid on behalf of clients including vendors,

but shall not be liable for errors or omissions in executing instructions to

bid.

(b) Whyte’s reserves the rights, before or during a sale, to group together

lots belonging to the same vendor, to split up and to withdraw any lot or

lots at Whyte’s absolute discretion and without giving any reason in any

case.

default of the buyer or vendor.

Clause 4

(a) Each lot shall be at the buyer’s risk from the fall of the hammer and shall

be paid for in full before delivery and taken away at his expense within one

day of the sale. The buyer will be responsible for all removal, storage and

insurance charges in respect of any lot which has not been collected within

7 days of the date of sale.

(b) If any buyer fails to pay in full for any lot within 7 days of the date of

sale such lot may at any time thereafter at Whyte’s discretion be put up for

sale by auction again or sold privately; if upon such re-sale a lower price is

obtained than was obtained on the first sale the buyer in default on the first

sale shall make good the difference in price and the expenses of re-sale

which shall become debt due from him.

monies due shall be payable by the buyer on any overdue account.

Clause 5

(a) All lots are made available for inspection before each sale and each

buyer, by making a bid, acknowledges that he has satisfied himself as to the

physical condition, age and catalogue description of each lot (including but

not restricted to whether the lot is damaged or has been repaired or

restored).

(b) All lots are sold with all faults and imperfections and errors of

description and Whyte’s and its employees, servants or agents shall not be

responsible for any error of description or for the condition or authenticity

of any lot, save for Clause 5 (c) below. Written or verbal condition reports

may be supplied by Whyte’s on request but these are merely statements of

opinion, and any error or omission in these reports may not be taken as

grounds for a cancellation of sale or refund of any part of the purchase

price or the cost of any repairs to the lot or lots reported on.

forgery”, Whyte’s will cancel the sale and refund to the buyer the total

amount paid by the buyer for the item, in the currency of the original sale.

The onus of proving a lot to be a “deliberate forgery” is on the buyer. For

these purposes, “deliberate forgery” means a lot that in Whyte’s reasonable

opinion is an imitation created to deceive as to authorship, where the

correct description of such authorship is not reflected by the description in

the catalogue (taking into account any Glossary of Terms). No lot shall be

considered a deliberate forgery by reason only of any damage and/or

restoration and/or modification work of any kind (including repainting or

overpainting). This guarantee does not apply if (i) either the catalogue

description was in accordance with the generally accepted opinions of

scholars and experts at the date of the sale, or the catalogue description

indicated that there was a conflict of such opinions; (ii) or the only method

of establishing at the date of the sale that the item was a counterfeit would

have been by means of processes not then generally available or accepted,

unreasonably expensive or impractical to use; or likely to have caused

damage to the lot or likely (in Whyte’s reasonable opinion) to have

caused loss of value to the lot; or (iii) there has been no material loss in

value of the lot from its value had it been in accordance with its description.

This guarantee is provided for a period of seven (7) years after the date of

the relevant auction, is solely for the benefit of the buyer and may not be

transferred to any third party. Whyte’s has discretion to extend the

guarantee for a longer period. To be able to claim under this Guarantee, the

buyer must (i) notify Whyte’s in writing within three (3) weeks of receiving

any information that causes the buyer to question the authenticity or

attribution of the item, specifying the lot number, date of the auction at

which it was purchased and the reasons why it is thought to be a deliberate

forgery; and (ii) return the item to Whyte’s in the same condition as the

date of the sale to the buyer and be able to transfer good title in the item,

free from the third party claims arising after the date of the sale. Whyte’s

has discretion to waive any of the above requirements. Whyte’s may

require the buyer to obtain at the buyer’s cost the reports of two

independent and recognised experts in the field, mutually acceptable to

Whyte’s and the buyer. Whyte’s shall not be bound by any reports

produced by the buyer, and reserves the right to seek additional expert

advice at its own expense. In the event Whyte’s decides to rescind the sale

under this Guarantee, it may refund the buyer the reasonable costs of up to

two mutually approved independent expert reports.

(d) Any lot listed as a “mixed lot, collection, range, portfolio etc.” or stated

to comprise or contain a collection or range of items which are not

described shall be put up for sale not subject to rejection and shall be taken

by the buyer with all (if any) faults, lack of genuineness and errors of

description and numbers of items in the lot, and the buyer shall have no

right to reject the lot; except that, notwithstanding the foregoing provisions

of this sub-clause, where before a sale a person intending to bid at the sale

gives notice in writing to, and satisfies Whyte’s that any such lot contains

any item or items not described in the sale catalogue and that person

specifically describes that item or those items in that notice, then that item

or those items shall, as between Whyte’s and that person, to be taken to

form part of the description of the lot.

Clause 6

The respective rights and obligations of the parties shall be governed and

interpreted by Irish law, and the buyer hereby submits to the exclusive

jurisdiction of the Irish Courts.

SPECIAL CONDITIONS

(a) The buyer shall pay Whyte’s a commission at the rate of 20% (plus VAT

under The Margin Scheme and which is not reclaimable).

(b) Whyte’s or its employees, servants or agents may, on request organise

packing and shipping of lots purchased or may order on the buyer’s behalf

third parties to pack or ship purchases. Under no circumstances does

Whyte’s accept any liability whatsoever for any loss or damage howsoever

occasioned in the course of such service.

any lot purchased for any or all purposes as Whyte’s may require.

The placing of a bid will be taken as full agreement to all the above

conditions.

WHYTE & SONS AUCTIONEERS LIMITED

38 Molesworth Street, Dublin 2