New Directions Art Auction 2025 Catalogue - Catalog - Page 44
44 NEW DIRECTIONS ART AUCTION 2025
APC CONDITIONS OF AUCTION AND SALE
POST SALE CONDITIONS
9.
Post auction private sale: Should the lot fail
to sell at auction, Australian Prostate Centre
is authorised to sell the lot privately for a
period of seven days in which event this
agreement shall apply to the relevant buyer
to the full extent of its provisions.
even if the lot is released to the buyer,
until the buyer has paid all sums owing to
Australian Prostate Centre. If a buyer makes
a claim against Australian Prostate Centre
for damage or loss after sale, the buyer’s
premium and the final bid price shall be
payable notwithstanding.
12. Freight: a) The buyer may only remove
10. Payment: The buyer will not acquire title
until payment has cleared in full. Interest
at a rate of 17.5% p.a. will be charged over
outstanding accounts where no extension
of terms has been granted. Interest will
be payable from the payment due date.
With respect to each lot purchased,
the buyer agrees to make the following
payments within seven days from the date
of sale: a) The hammer price. b) Post sale
packing, handling, shipping and storage
where applicable. c) If payment is made
via Visa, Mastercard or American Express,
any merchant fees payable by Australian
Prostate Centre on the transaction as
indicated in the prospective buyers and
sellers guide Payment must be made within
seven days of the date of sale in Australian
dollars by cash, bank cheque, direct deposit,
approved credit cards or electronic funds
transfer. In certain circumstances, extension
of payment may be granted at the discretion
of Australian Prostate Centre. Application
for a cultural heritage export licence or any
other licence in no way affects the buyer’s
obligation to make payment or collection
within the periods specified in sections 10
and 13a.
11.
Risk and Title: Risk in the lot, including risk
of loss or damage, will pass to the buyer on
the earlier of: a) the date payment is due,
whether or not it has been made; and b)
collection by the buyer. The buyer assumes
risk for the property in all respects from
this date and neither Australian Prostate
Centre nor the vendor will be liable for loss
or damage occurring after the payment
due date. The buyer is encouraged to make
arrangements to ensure comprehensive
cover is maintained from this date. Title
in the lot does not pass to the buyer,
a lot from the Australian Prostate Centre
premises once payment has been cleared
in full and must be removed no later than
seven days after the date of sale. Should
items not be removed by this time, storage
and insurance costs may be charged to the
buyer. If a lot has not been collected within
30 days after the date of sale and alternative
arrangements have not been with Australian
Prostate Centre, the lot may be re-sold by
Australian Prostate Centre without reserve
at the next auction and Australian Prostate
Centre may set off any amounts owed for
storage and insurance costs and its standard
commission before remitting the proceeds
to the buyer. b) Buyers are required to
make their own arrangements for packing,
handling, shipping and transit insurance for
their property. Australian Prostate Centre
does not accept responsibility or liability for
the acts or omissions of any third party, such
as a shipping agent, whether or not such a
party has been recommended or suggested
by Australian Prostate Centre.
13. Limited Warranty of Authorship: If a buyer
is able to establish that a lot is a forgery
in accordance with these conditions for
sale within five years of the date of sale,
the buyer shall be entitled to rescind the
sale and obtain a refund of the hammer
price from the vendor. The buyer must
return the lot in the state in which it was
sold within fourteen days of notifying
Australian Prostate Centre of the forgery
allegations. For a lot to be established as
a forgery, the following conditions must
be satisfied: a) the buyer must supply two
independent expert testimonies attesting
to the forgery. Australian Prostate Centre is
entitled to request further expert evidence
