These Conditions of Sale and the Important Notices and Explanation of Cataloguing Practice contain all the terms on which Kapoor Galleries Inc. Auctions and the seller contract with the buyer. They may be amended by posted notices or oral announcements. By bidding at auction you agree to be bound by these terms.
- Kapoor Galleries Inc. Auctions as an Agent
Except as otherwise stated Kapoor Galleries Inc.Auctions acts as agent for the seller. The contract for the sale of the property is therefore made between the seller and the buyer.
- Before The Sale
(a) Examination of property
Prospective buyers are strongly advised to examine any property in which they are interested, before the auction takes place by way of photo, and are encouraged to request any additional photos. Condition reports are usually available on request. Neither Kapoor Galleries Inc. Auctions nor the seller provides any guarantee in relation to the nature of the property apart from the Limited Warranty in paragraph 6 below. The property is otherwise sold as is.
(b) Catalogue and other descriptions
Our cataloguing practice is explained in the Important Notices and Explanation of Cataloguing Practice which appear after the catalogue entries. All statements by us in the catalogue entry for the property or in the condition report, or made orally or in writing elsewhere, are statements of opinion and are not to be relied on as statements of fact. Such statements do not constitute a representation, warranty or assumption of liability by us of any kind. References in the catalogue entry or the condition report to damage or restoration are for guidance only and should be evaluated by personal inspection by the bidder or a knowledgeable representative. The absence of such a reference does not imply that an item is free from defects or restoration, nor does a reference to particular defects imply the absence of any others. Estimates of the selling price should not be relied on as a statement that this is the price at which the item will sell or its value for any other purpose. Except as set forth in paragraph 6 below, neither Kapoor Galleries Inc. Auctions nor the seller is responsible in any way for errors and omissions in the catalogue, or any supplemental material.
(c) Buyer’s responsibility
Except as stated in the Limited Warranty in paragraph 6 below, all property is sold as is without any representation or warranty of any kind by Kapoor Galleries Inc. Auctions or the seller. Buyers are responsible for satisfying themselves concerning the condition of the property and the matters referred to in the catalogue entry.
- At The Sale
(a) Refusal of admission
Kapoor Galleries Inc. Auctions has the right, at our complete discretion, to refuse participation in any auction and to reject any bid.
(b) Registration before bidding
A prospective buyer must complete and sign a registration form and provide identification before bidding. We may require the production of bank or other financial references.
(c) Bidding as principal
When making a bid, a bidder is accepting personal liability to pay the purchase price, including the buyer’s premium and all applicable taxes, plus all other applicable charges, unless it has been explicitly agreed in writing with Kapoor Galleries Inc. Auctions before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to Kapoor Galleries Inc. Auctions, and that Kapoor Galleries Inc. Auctions will only look to the principal for payment.
(d) Absentee bids
We will use reasonable efforts to carry out written bids delivered to us prior to the sale for the convenience of clients who are not present at the auction in person, by an agent or by telephone. Bids must be placed in the currency of the place of the sale. Please refer to the catalogue for the Absentee Bids Form. If we receive written bids on a particular lot for identical amounts, and at the auction these are the highest bids on the lot, it will be sold to the person whose written bid was received and accepted first. Execution of written bids is a free service undertaken subject to other commitments at the time of the sale and we do not accept liability for failing to execute a written bid or for errors and omissions in connection with it.
(e) Telephone bids
Not available, bidding is only available through the LiveAuctioneers platform.
(f) Currency converter
At some auctions a currency converter may be operated. Errors may occur in the operation of the currency converter and we do not accept liability to bidders who follow the currency converter rather than the actual bidding in the saleroom.
(g) Video or digital images
At some auctions there may be a video or digital screen. Errors may occur in its operation and in the quality of the image and we do not accept liability for such errors.
Unless otherwise indicated, all lots are offered subject to a reserve, which is the confidential minimum price below which the lot will not be sold. The reserve will not exceed the low estimate printed in the catalogue. If any lots are not subject to a reserve. The auctioneer may open the bidding on any lot below the reserve by placing a bid on behalf of the seller. The auctioneer may continue to bid on behalf of the seller up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to other bidders.
(i) Auctioneer’s discretion
The auctioneer has the right at his absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as he may decide, to withdraw or divide any lot, to combine any two or more lots and, in the case of error or dispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the item in dispute. If any dispute arises after the sale, our sale record is conclusive.
(j) Successful bid and passing of risk
Subject to the auctioneer’s discretion, the highest bidder accepted by the auctioneer will be the buyer and the striking of his hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the seller and the buyer. Risk and responsibility for the lot (including frames or glass where relevant) passes to the buyer at the expiration of seven calendar days from the date of the sale or on collection by the buyer if earlier.
- After The Sale
(a) Buyer’s premium
In addition to the hammer price, the buyer agrees to pay to us the premium together with any applicable value added tax, sales or compensating use tax or equivalent tax in the place of sale.In some cases there are no premiums.
(b) Payment and passing of title
Immediately following the sale, the buyer must provide us with his or her name and permanent address and, if so requested, details of the bank from which payment will be made. The buyer must pay the full amount due (comprising the hammer price, buyer’s premium and any applicable taxes) immediately after the sale. This applies even if the buyer wishes to export the lot and an export license is, or may be, required. 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 even in circumstances where we have released the lot to the buyer.
(c) Collection of purchases
We shall be entitled to retain items sold until all amounts due to us, or to any of our affiliates, subsidiaries or parent companies worldwide, have been received in full in good cleared funds or until the buyer has satisfied such other terms as we, in our sole discretion, shall require. Subject to this, the buyer shall collect purchased lots within two calendar days from the date of the sale unless otherwise agreed between us and the buyer.
(d) Packing, handling and shipping
Although we shall use reasonable efforts to take care when handling, packing and shipping a purchased lot, we are not responsible for the acts or omissions of third parties whom we might retain for these purposes. Similarly, where we may suggest other handlers, packers or carriers if so requested, we do not accept responsibility or liability for their acts or omissions.
(e) Export license
Unless otherwise agreed by us in writing, the fact that the buyer wishes to apply for an export license does not affect his or her obligation to make payment within two days nor our right to charge interest or storage charges on late payment. If the buyer requests us to apply for an export license on his or her behalf, we shall be entitled to make a charge for this service. We shall not be obliged to rescind a sale nor to refund any interest or other expenses incurred by the buyer where payment is made by the buyer in circumstances where an export license is required.
(f) Remedies for non-payment
If the buyer fails to make payment in full in good cleared funds within the time required by paragraph 4(b) above, we shall be entitled in our absolute discretion to exercise one or more of the following rights or remedies (in addition to asserting any other rights or remedies available to us by law):
(i) to charge interest at such rate as we shall reasonably decide;
(ii) to hold the defaulting buyer liable for the total amount due and to commence legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law;
(iii) to cancel the sale;
(iv) to resell the property publicly or privately on such terms as we shall think fit;
(v) to pay the seller an amount up to the net proceeds payable in respect of the amount bid by the defaulting buyer;
(vi) to set off against any amounts which we, Kapoor Galleries Inc. Auctions or any of its affiliates, subsidiaries or parent companies worldwide, may owe the buyer in any other transactions, the outstanding amount remaining unpaid by the buyer;
(vii) where several amounts are owed by the buyer to us, Kapoor Galleries Inc. Auctions, or to any of its affiliates, subsidiaries or parent companies worldwide, in respect of different transactions, to apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not the buyer so directs;
(viii) to reject at any future auction any bids made by or on behalf of the buyer or to obtain a deposit from the buyer before accepting any bids;
(ix) to exercise all the rights and remedies of a person holding security over any property in our possession owned by the buyer, whether by way of pledge, security interest or in any other way, to the fullest extent permitted by the law of the place where such property is located. The buyer will be deemed to have granted such security to us and we may retain such property as collateral security for such buyer’s obligations to us;
(x) to take such other action as we deem necessary or appropriate.
If we resell the property under paragraph (iv) above, the defaulting buyer shall be liable for payment of any deficiency between the total amount originally due to us and the price obtained upon resale as well as for all costs, expenses, damages, legal fees and commissions and premiums of whatever kind associated with both sales or otherwise arising from the default. If we pay any amount to the seller under paragraph (v) above, the buyer acknowledges that Kapoor Galleries Inc. Auctions shall have all of the rights of the seller, however arising, to pursue the buyer for such amount.
(g) Failure to collect purchases
Where purchases are not collected within two calendar days from the date of the sale, whether or not payment has been made, we shall be permitted to remove the property to a third party warehouse at the buyer’s expense, and only release the items after payment in full has been made of removal, storage, handling, insurance and any other costs incurred, together with payment of all other amounts due to us.
(h) Selling Property at Kapoor Galleries Inc. Auctions
In addition to expenses such as transport and insurance, all consignors pay a commission according to a fixed scale of charges based upon the value of the property sold and bought at Kapoor Galleries Inc. Auctions in a calendar year. Commissions are charged on a sale by sale basis, at the then applicable level.
- Extent of Kapoor Galleries Inc. Auctions Liability
We agree to refund the purchase price in the circumstances of the Limited Warranty set out in paragraph 6 below. Apart from that, neither the seller nor we, nor any of our officers, employees or agents, are responsible for the correctness of any statement of whatever kind concerning any lot, whether written or oral, nor for any other errors or omissions in description or for any faults or defects in any lot. Except as stated in paragraph 6 below, neither the seller, ourselves, our officers, employees or agents, give any representation, warranty or guarantee or assume any liability of any kind in respect of any lot with regard to merchantability, fitness for a particular purpose, description, size, quality, condition, attribution, authenticity, rarity, importance, medium, provenance, exhibition history, literature or historical relevance. Except as required by local law any warranty of any kind whatsoever is excluded by this paragraph.
- Limited Warranty
Subject to the terms and conditions of this paragraph, Kapoor Galleries Inc. Auctions warrants for a period of five years from the date of the sale that any property described in headings printed as guaranteed by Kapoor Galleries Inc. with qualification to be the work of a named author or authorship, is authentic and not a forgery. 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. Kapoor Galleries Inc. Auctions warranty does not apply to supplemental material which appears. Kapoor Galleries Inc. Auctions is not responsible for any errors or omissions in such material. The terms used in the headings are further explained in Important Notices and Explanation of Cataloguing Practice. The warranty does not apply to any heading which is stated to represent a qualified opinion. The warranty is subject to the following:
(i) It does not apply where (a) the catalogue description or saleroom notice corresponded to the generally accepted opinion of scholars or experts at the date of the sale or fairly indicated that there was a conflict of opinions; or (b) correct identification of a lot can be demonstrated only by means of either a scientific process not generally accepted for use until after publication of the catalogue or a process which at the date of publication of the catalogue was unreasonably expensive or impractical or likely to have caused damage to the property.
(ii) 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 Kapoor Galleries Inc. Auctions when the lot was sold at auction.
(iii) The original buyer must have remained the owner of the lot without disposing of any interest in it to any third party.
(iv) The buyer’s sole and exclusive remedy against Kapoor Galleries Inc. Auctions and the seller, in place of any other remedy which might be available, is the cancellation of the sale and the refund of the original purchase price paid for the lot. Neither Kapoor Galleries Inc. Auctions nor the seller will be liable for any special, incidental or consequential damages including, without limitation, loss of profits nor for interest.
(v) The buyer must give written notice of claim to us within five years from the date of the auction. It is Kapoor Galleries Inc. Auctions general policy, and Kapoor Galleries Inc. Auctions shall have the right, to require the buyer to obtain the written opinions of two recognized experts in the field, mutually acceptable to Kapoor Galleries Inc. Auctions and the buyer, before Kapoor Galleries Inc. Auctions decide whether or not to cancel the sale under the warranty.
(vi) The buyer must return the lot to the Kapoor Galleries Inc. Auctions saleroom at which it was purchased in the same condition as at the time of the sale.
The copyright in all images, illustrations and written material produced by or for Kapoor Galleries Inc. Auctions relating to a lot including the contents of this catalog, is and shall remain at all times the property of Kapoor Galleries Inc. Auctions and shall not be used by the buyer, nor by anyone else, without our prior written consent. Kapoor Galleries Inc. Auctions and the seller make no representation or warranty that the buyer of a property will acquire any copyright or other reproduction rights in it.
If any part of these Conditions of Sale is found by any court to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the conditions shall continue to be valid to the fullest extent permitted by law.
- Law and Jurisdiction
The rights and obligations of the parties with respect to these Conditions of Sale, the conduct of the auction and any matters connected with any of the foregoing shall be governed and interpreted by the laws of the jurisdiction in which the auction is held. By bidding at auction, whether present in person or by agent, by written bid, telephone or other means, the buyer shall be deemed to have submitted, for the benefit of Kapoor Galleries Inc. Auctions, to the exclusive jurisdiction of the courts of that country, state, county or province, and (if applicable) of the federal courts sitting in such state.
Items are available for absentee bidding only. You can browse the catalog and place bids at any time. All items are available for inspection at Sanjay Kapoor Inc, 34 East 67th street, unless otherwise noted.
You will receive an email notification:
-Each time you place a bid
-When you are outbid on any lot
-At the close of the auction if you are the high bidder
End of the Auction:
You will receive an invoice from Kapoor Galleries Inc. detailing the hammer price, sales tax for New York residents and a shipping quote. To schedule a payment, call our office at +1 212 794 2300, Monday through Friday, 11am to 5pm, otherwise by appointment. By registering and bidding in an auction conducted by Kapoor Galleries Inc. bidders (through a live internet connection) agree to be bound by these terms. These are the complete and only terms and conditions on which all property is offered for sale. Kapoor Galleries Inc. retains the right to bar any bidder from participating in any auction and to exclude or reject any bid.
1) REGISTRATION. All bidders must register with BidSquare to bid.
2) ACCEPTANCE OF TERMS. Bidding on any item, via a live internet auction indicates the bidder’s agreement to be bound by these Terms and Conditions for Bidders. Any right of bidder under this agreement shall not be assignable and shall only be enforceable by the original buyer. The rights and obligations of the parties shall be governed by the laws of the state of New York. All bidders submit to the personal jurisdiction of the state and federal courts in New York.
3) TERMS OF SALE. The auctioneer reserves the right to withdraw any lot at any time before its final sale and to reject any bid for any reason. The highest bidder for each lot acknowledged by the auctioneer shall be the “buyer”.
4) ESTIMATES AND RESERVES. Presale estimates are intended to be guides and may or may not reflect the ultimate hammer price of a lot. A reserve is a confidential minimum price agreed upon by the seller of the lot and Kapoor Galleries Inc. In the case of reserved lots, the seller has authorized Kapoor Galleries Inc. to use this price as the starting price for the lot.
5) WARRANTIES AND DISCLAIMERS. Kapoor Galleries Inc. makes a limited
warranty only to the original buyer of record concerning the authenticity of each lot for a period of 21 days after bidder’s receipt of the purchased lot. If the buyer is not satisfied that the lot purchased is genuine or described correctly, they may after notification to Kapoor Galleries Inc. return the item for a refund of the purchase price, providing it is returned in the same condition. Kapoor Galleries Inc.shall not be liable for any incidental or consequential damages. All sales are final, with no returns or refunds except as provided in this limited warranty.
6) DEFINITIONS OF AUTHORSHIP.
“By”; or “Maker/Artist” – in our opinion, the work is by the artist or maker stated “Attribute”; – in our opinion, the work is probably, but not definitely, by the artist or maker stated “Signed” or “Marked” – in our opinion, the signature or mark is that of the stated artist or maker “Bearing the signature (or mark) of” – in our opinion, the signature or mark is probably, but not definitely, that of the artist or maker stated “After” – in our opinion, the work is a copy of a work by the stated artist or maker
7) INSPECTION. All lots are available for inspection in the gallery of Kapoor Galleries Inc. Condition reports for most items can be found online on BidSquare with the lot in question. Prospective bidders are encouraged to contact Kapoor Galleries Inc. directly for additional information regarding the condition of any lot. Kapoor Galleries Inc. has described the condition of every lot. Buyers interested in a further discussion of the condition of an item are encouraged to contact Kapoor Galleries Inc. and, to the best of our ability, we will document for the prospective bidder the condition status on any lot. Condition is always a subjective evaluation and final responsibility rests with the buyer to assess the condition of any item sold by Kapoor Galleries Inc.
10) INTERNET BIDDING. Internet bidding is available through Bidsquare.com. There may be terms which apply to internet bids that should be reviewed online at the time of sale. Kapoor Galleries Inc. is not responsible for any failure to execute a bid and shall have no liability to any bidder for any technical or other failure associated with an internet auction.
11) BIDDING INCREMENTS. The following increments are used at the auction. Absentee bids must fall within these increments. Kapoor Galleries Inc. will automatically reduce any absentee bid to the closest increment if the bid falls outside the published range of increments. For Bids falling Between Bidding Increment
$0 – 200 $10
$201 – 500 $25
$501 – 1,000 $50
$5,001 and up $500
AFTER THE AUCTION
12) BUYER’S RESPONSIBILITY. Upon the fall of the hammer, title to the offered lot shall pass to the buyer and the buyer immediately assumes full risk and responsibility for the lot, including liability for loss or damage and is liable for payment of the Purchase Price (as defined below) to Kapoor Galleries Inc. It is the buyer’s responsibility to ask specific questions on condition related concerns prior to the auction.
13) PURCHASE PRICE AND PAYMENT. The discounted “Purchase Price” for each lot shall equal the hammer price, sales tax and, if applicable, all packing, handling, insurance and shipping costs. U.S. bidders may pay with cash, personal check, money order, bank check, wire transfer or credit card (Visa and MasterCard). Bidders outside the U. S. will be required to pay by wire transfer or Credit Card. Kapoor Galleries Inc. reserves the right to hold a purchased lot until a check has cleared.
14) SALES TAX. Buyers are required to pay any applicable state and local sales tax, Kapoor Galleries Inc. is only required to collect sales tax for New York State.
15) SHIPPING. At the request of the buyer, Kapoor Galleries Inc. will ship the purchased items. Shipment usually happens within four business days after the auction has ended. Shipping costs are generally quoted within the item description. Shipment are generally made via Fed-Ex Ground. Unless buyer gives special instructions, the shipping method shall be at the sole discretion of Kapoor Galleries Inc.
16) SHIPPING CHARGES. Buyers are required to pay for all packing, shipping and insurance charges. Overseas duty charges are the responsibility of the successful bidder. Be aware that for larger and/or valuable items, shipping charges can be substantial.
17) REMOVAL AND STORAGE OF PROPERTY. If purchased property has not been removed, or Kapoor Galleries Inc. has not received shipping instructions within 21 days after the auction date, a $10 per item per day storage fee may be charged to the buyer.
18) CANCELLATION OF SALE. If purchased property remains in the custody of Kapoor Galleries Inc. for a period of 60 days following the auction, Kapoor Galleries Inc. may, at its option, cancel the sale, retaining as liquidated damages any payments made by the buyer, or resell the property at auction or by any other commercially reasonable means, for the account and at the risk of the buyer, and in such event, buyer shall be liable for the payment of all deficiencies plus all of Kapoor Galleries Inc. costs, including but not limited to storage and costs of both sales. This right of cancellation is in addition to any and all other remedies available to Kapoor Galleries Inc.
© Kapoor Galleries Inc. Auctions (2018)