Conditions of Sale
BUYER'S PREMIUM
18%
ARTIST'S RESALE RIGHTS
On lots sold between €3 000 and €50 000 4% is added to the price of the final bid, which is the artist's resale right applicable if the artist is alive or has died in the last 70 years. (For lots sold above €50 000 the Artist's Resale Rights is reduced to 3%)
VAT
Value Added Tax currently at 19% is added to the Buyers Premium and the Artist's Resale Rights
BIDDING
Online Bidding
Cypria Auctions offers an online bidding service via Invaluable.com for bidders who are unable to attend the sale.
Please note that we offer "BUYER'S PREMIUM PARITY" which means that you pay what the floor pays. You will not be charged any additional commission for online bidding through "Invaluable"
First Time Buyers
First time buyers (Buyers unknown to Cypria K Auctions Ltd) registering to bid may be contacted, and a copy of a photo ID (passport or national identity card) as well as proof of address may be requested.
In Person
You can bid in person by attending the auction where you will be issued with a paddle number to enable you to bid on your chosen lots.
Absentee Bid
If you are unable to attend the auction then let us bid on your behalf.
You can submit a confidential absentee bid from each particular lot's details page of our current auction indicating your maximum bid in euro, excluding the buyer's premium and any applicable taxes. Our staff will then execute the bid on your behalf. Taking into account the reserve price and other bidders, we will always try to secure the item for you at the lowest price within your maximum bidding limit.
Telephone Bid
If you cannot be present at the auction then as an alternative to placing an absentee bid you can request to bid by telephone.
A member of staff will telephone you during the auction and bid live on your behalf according to your instructions.
TERMS & CONDITIONS APPLICABLE TO BUYERS
Participation in Cypria Auctions means the unreserved acceptance of the following:-
1. The auctioneer always acts as the agent of the vendor. He directs the auction and decides on the consecutive bids of each lot. At his discretion, he can refuse higher or lower bids than those proposed by him.
2. The auctioneer reserves the right to refuse entry to or participation by any individual in the sale-room, as well as to withdraw any lot from the sale at any time.
3. A buyer is considered the bidder who accepted the highest bid proposed by the auctioneer and to whom the lot was finally sold. Absentee bids are accepted by the auctioneer in writing at least 24 hours before the sale or on the telephone during the sale, provided personal details of the bidder have been submitted at least 24 hours before the auction.
4. Every work is sold 'in its present state'. Cypria Auctions is not responsible for possible defects, damages or imperfections of a work or errors or misrepresentations in the description contained in the catalogue. All statements included in the auction catalogue relating to the provenance, dating, authenticity and estimate of a lot are made to the best of its knowledge and do not imply or create ultimate responsibility or liability on the part of Cypria Auctions, its associates or employees to any third party.
5. A buyer can return a work within two (2) years of its purchase if it can be reasonably proved that it is a counterfeit. In such a case the buyer will be fully refunded (Hammer price plus commission but not interest). The sale will be set aside on condition that the buyer has not resold the work; it has been kept in the same condition as at the time of purchase and most importantly there was no mention in the catalogue of disputed authenticity.
6. Every work on sale is considered by Cypria Auctions as the bona fide property of the vendor who gives assurances that it is free of any legal or any other impediment, claim or demand by any third party.
7. A commission of 18% plus VAT is added to the hammer price. All lots can be collected, once the account has been settled, from the sale room after the sale or the next day or thereafter from the Cypria Auctions premises located at 14 Evrou Street, Strovolos, Nicosia, Cyprus. The buyer should collect all purchased lots within 7 days from the date of the auction and settle the respective invoice in full.
8. In case of refusal or inability on the part of the buyer to settle his/her account and collect the work(s) as stated above, 30 days having elapsed from the day of the auction, Cypria Auctions is entitled a) To initiate legal action demanding the full settlement of the account. b) To dispose of the work(s) to a third party privately or through an auction sale. c) To demand compensation for any financial or other damages suffered as a result of the buyer's refusal to fulfil his/her obligations.
VIEWING
Lots featured in any of our forthcoming auctions are made available for a closer examination in person during our viewing events which normally take place a few days before the auction at the Cypria Auctions premises loacated at14 Evrou Street, Strovolos, Nicosia, Cyprus.
Our auction viewing venues, dates and times will be displayed on our website and will also be advised by newsletter to everyone who has registered in our mailing list through our website www.cypriaauctions.com
Buyer's premium
BUYER'S PREMIUM
18%
ARTIST'S RESALE RIGHTS
On lots sold between €3 000 and €50 000 4% is added to the price of the final bid, which is the artist's resale right applicable if the artist is alive or has died in the last 70 years. (For lots sold above €50 000 the Artist's Resale Rights is reduced to 3%)
VAT
Value Added Tax currently at 19% is added to the Buyers Premium and the Artist's Resale Rights
Please note that we offer "BUYER'S PREMIUM PARITY" which means that you pay what the floor pays. You will not be charged any additional commission for online bidding through "Invaluable"
Payment
Successful bidders can pay immediately after the sale or thereafter.
Payment is due within 7 days after the auction.
A buyer's premium of 18% plus VAT is added to the hammer price.
VAT (currently at 19%) is only applicable to the buyer's premium and not the hammer price.
Payment can be made in any of the following ways.
• Cash
• Bank transfer - We will provide you with our bank account details
• Cheque - Payment by cheque is also possible. Items paid for by cheque can only be collected once the funds have been cleared. Please allow at least 7 days for funds to clear
• Debit or credit card - We accept Visa & Mastercard
PLEASE NOTE that we may not accept payment by cheques or debit / credit cards belonging to third parties.
Payments must be made direct to Cypria K. Auctions Ltd and will not be processed by invaluable.com
Collection & Shipping
COLLECTION IN PERSON
After the sale, once your account has been settled, all lots may be collected from the Cypria Auctions premises in Nicosia.
The buyer should collect all purchased lots within 7 days from the date of the auction.
PACKING & SHIPPING
We are happy to arrange for packing and shipping of your purchased lots and can provide you with a quote upon request or you can use your own carrier.
We are not professional packers or shippers but will do our utmost to pack items in a correct way which will ensure items arrive safely. However, Cypria Auctions will not be held responsible for making a claim in case of damage, loss or late delivery.
Note: - If you are based in Greece (Athens area) for smaller items we may be able to arrange delivery to you free of charge.
