Conditions of Sale including Authorship Warranty

1. Introduction

These Conditions of Sale and Authorship Warranty contain all the terms on which Calusari and the Seller contract with the Buyer. The auctions and private sales shall be performed on the basis of the present Conditions of Sale and Authorship Warranty . The Conditions of Sale and Authorship Warranty are published in the catalogue of the auction and on the internet. By submitting a written bid, you are acknowledge that you are bound by these terms and conditions. Please read them carefully and ask us for an explanation of anything that you do not understand before you submit any bid.

2. Calusari as Agent

(a) Calusari acts as agent for the Seller. Therefore, the contract for the sale of the property is therefore made between the Buyer and the Seller who will not be named. On occasion, Calusari may own a lot directly, in whole or in shared ownership, in which case it is stated in the catalog.

3. Catalogue Descriptions

(a) Before to the auction date, descriptions of the items are published in a catalogue. Catalogue descriptions provides information such as images of the property, measurements, technique, provenance, work’s creator(s), signature, condition report and pre-sale estimate. The pre-sale estimate in SFr. amounts, does not include the Buyer’s premium or VAT and may not be relied on as a prediction of the selling price, it serves solely as an indication of the fair market value of the work of art. These pre-sale estimate we made ahead of the sale are based on similar works sold at public auctions recently and may be modified at our absolute discretion before the sale, depending on the bids received from intending Buyer's.
(b) Calusari will prepare the catalogue descriptions to the best of its knowledge and belief, and will exercise the greatest of care in doing so. The catalogue descriptions will be based on:
(i) the scholarly and technical knowledge published up until the date of the auction;
(ii) the generally accepted opinions of relevant experts, in each case at the time any such express statement is made;
(iii) the information provided to us by the seller.
(c) Goods auctioned are often of some age and type which means that they are not in perfect condition, and sold with all existing faults and imperfections. Condition reports may make reference to particular fault or imperfection or restoration of a lot, but bidders should note that lots may have other faults or imperfections or restorations not expressly referred to in the catalog description or in the condition report. All dimensions are approximate. Illustrations are for identification purposes only and cannot be used as precise indications of size or to convey full information as to the actual condition of lot. Intending Buyer's or their Agents are encouraged to inspect the lots in natura before submitting bids.
(e) The authenticity of property listed in the catalog is guaranteed as stated in the Authorship Warranty. All statements made by us in the description of the property or in the condition report, are statements of opinion held by Calusari and does not constitute any warranty by Calusari or by the Seller. Except as set forth in Authorship Warranty, all property is sold without any warranties by Calusari or the Seller as to: merchantability, quality, rarity, importance, size, medium, provenance, exhibitions, literature, historical relevance.
(g) We reserve the right to withdraw any property before the sale and have no liability whatsoever for such withdrawal.

4. Registration and Bidding

(a) A intending Buyer must complete and sign a registration form and provide identification before bidding one week before the auction date. We may require the bank financial references and in some cases a warranty deposit. We receive written bids only. Please refer to the catalogue for the Written Bids Form.
(b) When making a bid, an intending Buyer is accepting personal liability to pay the purchase price, including buyer’s premium and all applicable taxes, unless it has been explicitly agreed otherwise in writing with Calusari at least one (1) week before the sale.
(c) In the event that we receive identical absentee bids, the earliest one that we receive will take precedence.
(d) Calusari does accept bids from agents acting on behalf of other parties only after a warranty of 25% of the low estimate of the lot have been deposited in our account.
(d) Calusari has the right, at our complete discretion to reject any bid.

5. Purchase Price, Payment and Shipping

(a) The prospective Buyer who submitted the highest bid (winning bid) will be the Buyer.
(b) For winning bid lower or equal than the higher estimate estimate the Buyer's Premium is 10% payable winning bid. For winning bid greater than higher estimate the Buyer's Premium rate is 10% payable on the higher estimate.
(c) The Purchase Price is the total amount of the highest bid plus 7.6% VAT on the highest bid plus 7.6% VAT on the Buyer's Premium;

5. Purchase Price, Payment and Shipping

(d) The purchase price shall be paid in SFr. within seven (7) calendar days after the sale. After such date, interest at the rate of 5% per month shall be charged on the unpaid balance due. The buyer will not acquire title to the lot until all amounts due to us from the buyer have been received by us in good cleared funds.
(f) Risk and responsibility for the lot passes to the Buyer at the expiration of seven calendar (7) days from the date of the sale or on collection by the Buyer if earlier. Buyer shall collect purchased lots within seven (14) calendar days from the date of the sale unless otherwise agreed between us and the Buyer. When purchases payed in full or not are not collected within seven (14) calendar days from the date of the sale we reserve the right to deposit it on the Buyer's expenses (transport cost, storage, insurance fees and all other expenses ) at:

Ports Francs et Entrepôts de Genève SA

Rte du Grand-Lancy 6a, CP 1535, 1211 Geneva 26 - Switzerland
(h) If the Buyer fails to make payment in full in good cleared funds within the (7) seven calendar days we shall be entitled in our absolute discretion to exercise one or more of the following rights or remedies:
(i) to cancel the sale;
(ii) not be return the warranty deposit to the Buyer;
(iii) to resell the property publicly or privately on such terms as we shall think fit;
(iv) to begin legal proceedings for recovery of total amount due together with interest, legal fees and costs.

6. Copyright

The Buyer has the right to buy for a negotiable fee the image's copyright of property he has acquired. Otherwise the copyright in all images and descriptions of a lot, will remain at all times the property of Calusari and such images and text may not be used by the Buyer or any other party without our prior written consent.

7. Authorship Warranty

Calusari warrants the authorship of property in auction catalogue or private sales, described in headings in BOLD or CAPITALIZED type (i.e. headings having all UPPER CASE TYPE) for a period of five (5) years from date of sale, subject to the exclusions and limitations set forth below. The term “author” or “authorship” refers to the creator of the property or to the period, culture, source or origin, as the case may be, with which the creation of such property is identified in the UPPER CASE TYPE description of the property in this catalogue. Only UPPER CASE TYPE headings of lots in this catalogue indicate what is being warranted by Calusari. The Authorship Warranty is subject to the following conditions:
a) Calusari warranty does not apply to supplemental material which appears below the UPPER CASE TYPE headings of each lot and Calusari is not responsible for any errors or omissions in such material.
b) The benefits of the warranty are not assignable and shall apply only to the original buyer of the lot as shown on the invoice originally issued by Calusari when the lot was sold at auction. This Authorship Warranty does not extend to:
(i) subsequent owners of the property;
(ii) property where the description in the catalogue states that there is a conflict of opinion on the authorship of the property;
(iii) property where our attribution of authorship was on the date of sale consistent with the generally accepted opinions of specialists, scholars or other experts, or
(iv) property whose description or dating is proved inaccurate by means of scientific methods or tests not generally accepted or use at the time of the publication of the catalogue or which were at such time deemed unreasonably expensive or impractical to use or likely in our reasonable opinion to have caused damage or loss in value to the lot .
(c) When a Buyer discovers, after de sale, that the object which he has acquired is determined to be a forgery, to be able to claim under this Autorship Warranty the original purchaser of property must:
(i) notify Calusari in writing within three (3) months of receiving any information that causes the original buyer of the lot to question the accuracy of UPPER CASE TYPE type heading, specifying lot number, date of the auction at which it was purchased and the reasons for such question; and
(ii) return the Lot to Calusari original selling location in the same condition as at the day of the sale; and
(iii) obtain at the original Buyer's costs, the reports of three independent and recognized experts in the field, which question the accuracy of UPPER CASE TYPE type heading.
(d) The buyer understands and agrees that the sole remedy for any breach of the Authorship Warranty shall be rescission of the sale and refund of the original purchase price paid. This means that none of Calusari, seller shall be liable for loss or damage beyond the remedy expressly provided in this Authorship Warranty, whether such loss or damage is characterized as direct, indirect, special, incidental or consequential, or for the payment of interest on the original Purchase Price.

8. Law and Jurisdiction

These Conditions of Sale and Authorship Warranty are subject to Swiss law. By submitting bids the Buyer shall be deemed to have submitted, for the benefit of Calusari, to the exclusive jurisdiction for all disputes arising between the Buyer and Calusari the courts of Tribunal cantonal du Zurich, Switzerland.