AUCTION TERMS FOR ONLINE AUCTION

The auctioneer will accept a bid if no higher bid is placed after the bid has been called three times. The knockdown goes to the highest bidder. Online bids placed prior to the auction will be incorporated into the auction proceedings. The highest bids will ultimately prevail. The auctioneer has the right to refuse to accept a bid or to reject a bid if the bidder has not registered before the start of the auction and does not have a bidder number. If a bid is rejected, the previous bid remains valid. Acceptance of a bid obliges the bidder to accept the item.

PURCHASE PRICE AND PAYMENT

The purchase price is to be paid in cash or  by bank transfer. The purchase price consists of the hammer price, statutory VAT, and costs for customs clearance. Import/export duties may be added and shall be borne by the buyer. The seller is the Artist and allows Art Initiatives to carry out the transaction in his or her name. The seller will issue the correct invoice to the buyer. The buyer then undertakes to transfer the relevant claim to Art Initiatives registered in Ibiza. Payments are to be made in euros. All taxes, costs, and fees of the payment shall be borne by the buyer. The buyer undertakes to pay within 14 days after receiving the invoice.

COLLECTION OF THE ART WORK

Upon receipt of payment, Art Initiatives will be authorised to deliver the auction item.  We ask you to pick up your purchases by October 21, 2025. Packaging and shipping are at the sole risk and expense of the buyer. The buyer will receive all necessary  information from the organiser of Art Initiatives after receipt of payment, such as the pick-up address and contact person.

CANCELLATION

If the buyer is in default of payment, the seller (the artist) and Art Initiatives may withdraw from the contract in whole or in part after setting a grace period of 14 days.  In the event of withdrawal, all rights of the buyer to the auctioned work of art become invalid. The buyer shall be liable for the transportation, storage, and insurance costs.

LIABILITY

The descriptions of the auction items are based on the information provided by the Art Initiatives; no liability is assumed for the accuracy of the information or the  condition of the works. The organisers of the event undertake due diligence to check the information carefully and to ensure that the consigned works are transported  and handled appropriately. Complaints and claims regarding the price, quality, and condition of the auctioned works or claims for damages must be made to  Art Initiatives as the organiser. The aforementioned limitations of  liability do not apply to damages resulting from injury to life, limb, or health that are based on breaches of duty by Art Initiatives or their representatives or vicarious agents.

SUBSEQUENT SALE

From October 4th to November 4th, 2025,  works of art that have not been auctioned  can be purchased by way of sale. The post-auction sale is part of the auction, in which the interested party can place a bid in person, by telephone, or in writing for a specific amount. For bids in the post-auction sale, please contact johanna@art-initiatives.com zuzana@art-initiatives.com.

OTHER PROVISIONS

Multilingual Auction Terms and Conditions

If the auction terms and conditions are available in several languages, the English version shall always prevail.

Applicable Law
This agreement shall be governed exclusively by the laws of Spain.

Place of Performance and Jurisdiction
The place of performance and jurisdiction is Ibiza.