RIOS Gallery

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02.12.2011. Art Gives Light

02.12.2011 18:00

Big Hall of Russian Theatre.

Auction Rules

1. General provisions

1.1.The First charity auction "Art Gives the Light" in favour of the Russian Theatre (further Auction) is held on the 2nd of December at 18.00 at Vabaduse väljak 5, Tallinn, the great hall of The Russian Theatre.
1.2.The works, exhibited in the Auction, are represented in the catalogue.
1.3.The Auction organisers are Rios Art gallery and SA Vene Teater.
1.4.The Auction organiser is a mediator (broker) between a seller (principal) and a customer, with all the arising circumstances. All items listed in the catalogue are property of different principals, who has given the right to Auction orginisers to sell their works.
1.5.The Action organiser gives the correct information about the works of art exhibited in the Auction, introducing experts opinion on their authenticity (a certificate is issued). But the final decision about the authenticity and condition of the product lies with the customer. Complaints, regarding the authenticity or state of the art work, are accepted by organisers of the Auction during two weeks after the Auction. The Auction organiser responsibility is limited by refunds for work of art to a customer. Small defects, such as flaws in an underframe or a frame condition, are not taken into account in the catalogue and are not a basis for claims.
1.6.The organiser has an exclusive right to remove frome the auction, before its beginning, any work, change the order of the works and amend the Auction rules.
1.7.Commission, 5% of the final cost, will be charged if paid the works.

2. General definitions

2.1. Potentsiaalne ostja (Potential customer) – a person, who individually, through an agent or representative participates in the Auction.
2.2. Oksjonipidaja – oksjoni korraldaja poolt oksjoni juhtimiseks volitatud isik.

2.3. Oksjonipidaja assistent – an assistant of the host of the Auction.
2.4. Alghind (starting price) – a price in the catalogue, from which auction starts.
2.5. Haamriloogihind (final offer) – a final price of the works of art.

2.6. Reservhind (reserve price) – the lowest price, confidentially agreed between seller and the Auction organiser.

2.7. Enampakkumine – a procedure of selling the works.

2.8. Edukaim ostja (winner) – a potential customer, who proposes the final price at the auction.

2.9. Jaab koju – an unsold work.

2.10. Garanteeritud tasu – 10% of the final price, which must be paid at the day of the Auction.

2.11. Loplik tasu - the remaining 90% of the final cost after payment the 10%.

3. Holding the Auction

3.1. Place of the Auction: Vabaduse väljak 5, Tallinn, the great hall of the Russian Theatre at 18.00.
Pictures preview from November, 22 to December, 2, in the Rios Art gallery, Karli pst 8, Tallinn. Tuesday-Friday 11.00 – 18.00, Saturday – Sunday Under the preliminary arrangement.

3.2. Each potential customer needs to fill the registration blank before the Auction and buy a participant number (20€), which identifies him till the end of the auction. A member of a potential customer family can come to the Auction, in this case each member should pay also 20€.

3.4. The auction is held by the list of exhibited works. The first offer makes the host of the auction. A potential customer proposes his price rising a participant number so that the host of the auction can notice it.

Price Rising prices
From 75 to 750 euros-25 euros
From 750 to 3000 euros-50 euros
From 3000 euros and above-100 euros

Igal Each participant of the auction has the right to name his price, exceeded approved order of increasing offers. Raise number and say an offer aloud.
3.5. The host of the auction has a right to make a decision on the secondary bidding in case, if he is not confident in the reliability of the final offer.

3.6. If a potential customer is not be able to attend the auction personally, but he would like to participate in it, he should to send to the host of the auction a signed confirmation of his highest offer. A representative of a person, who is not present at the auction, is the auction assistant or organiser, who will propose possibly the lowest price for a work. Such service is free and confidential.

3.7. During the auction only the host can accept or deny an offer, adjudge a customer and resolve disputes.

3.8. Auction ends after the bidding on the last offer.

3.9. An exact list of prices is available to all and is free.

4. Payment

4.1. When the buyer is defined, he has to contact with the assistant.

4.2. Immediately after the auction a customer have to pay the total price or 10% of the final price.
Acceptable payments:

• cash
• credit or debit cards
Cards acceptable: VISA, VISA electron, EUROCARD/MasterCard, Maestro.

To pay the remainder part, the organiser can provide 15 days, starting from the day of signing the sales contract.

4.3. If paid 10% you get a bill, then personal data is checked and a customer signs a contract.

4.4. A customer will get his bought work of art after the payment full price.

4.5. If final payment is not paid on time, the sales contract will be considered abandoned. In this case, the guaranteed payment (10%) does not return to the customer and leaves in favor of the auction organiser.

5. Storage of art works.

5.1. The Auction organiser keeps for free the art works during 15 days. If a customer does not take his works after 15 days, he must pay the auction organiser 2 Euros for every extra day. The Auction organizer is not responsible for the storage, treatment and risk after these 15 days.