General terms and conditions of sale
1. Conditions and Information for Buyers
The sale is subject to Luxembourg law and the conditions mentioned in the catalogs and these terms. The auction house emphasizes the highly informative nature of the information provided below. In addition to the terms of sale, the information informs prospective buyers referred to as “buyers” on how to purchase at auction. Our team is, of course, at your disposal to provide information and assistance if needed. The sale takes place in the auction format and is for cash. All items come from voluntary and non-coerced deposits from sellers.
2. Buyer’s Fees
The buyer will pay to the auction house KANERZ ART, in addition to the hammer price, purchase fees that are considered part of the purchase price. The purchase fees are tiered and apply as follows:
- From 1 to 4,999 €, a fee of 28.88% Net,
- From 5,000 to 9,999 €, a fee of 26.66% Net
- From 10,000 to 49,999 €, a fee of 24.44% Net,
- From 50,000 to 499,999 €, a fee of 22.22% Net,
- Above 500,000 €, a fee of 20% Net.
Additionally, a handling fee of €1.50 applies for each lot.
Bids placed on Live sale platforms (Drouot.com, Kanerz Live, ...) are subject to additional fees of 3% excluding VAT (i.e., 3.51% including VAT).
Example: a lot sold for 5,600 euros is awarded. 28.88% applies up to 4,999 euros. Then 26.66% for the next 601 euros, plus €1.50 handling fee.
3. VAT
No VAT exemption is applied in the case of export outside the European Union.
4. Before the Sale
4.1. Estimates
Estimates made before the sale are provided for informational purposes only. Any bid within the range of the low and high estimate has reasonable chances of success. The estimates are based on input from experts or the accepted market value for the corresponding item.
4.2. Condition of Lots
All goods are sold as-is in the condition they are in at the time of sale and without guarantee.
4.3. Exhibition Before Sale
The exhibition preceding the sale is open to all and is not subject to any entry fee. Concerned for your safety in its premises, the auction house strives to display items in the safest manner. Any handling of items not supervised by auction house staff is done at your own risk.
5. The Auctions
Bids can be placed in person, by phone, or through a third party. The auctions will be conducted in euros.
5.1. Bidding in Person
To bid in person in the auction room, you must register and obtain a numbered paddle before the auction begins. You will need to present proof of identity and bank references. The paddle is used to indicate your bids to the person authorised to conduct the sale during the auction. If you wish to purchase a lot, ensure that your paddle is clearly visible to the person authorised to conduct the sale and that your number is the one being called. If there is any doubt about the price or the buyer, immediately bring this to the attention of the person authorised to conduct the sale. All lots sold will be invoiced to the name and address appearing on the registration form corresponding to the paddle number; no changes can be made. If you lose your paddle, please inform one of the auction clerks immediately. At the end of each auction session, please return your paddle to the registration desk.
5.2. Mandate to a Third-Party Bidder
If you bid at the auction, you do so personally, and we can hold you solely responsible for that bid. Every buyer is deemed to act in their own name, even for items they may have acquired as an agent. The buyer will provide the Bailiff with their name, address, and any information that may be requested by the Bailiff.
5.3. Purchase Orders
If you cannot attend the auction, we will be happy to execute purchase orders given in writing in your name. If you are a first-time client of the auction house, your orders must be accompanied by a copy of your ID and your bank references. You will find a purchase order form at the end of each catalog. This service is free and confidential. Lots are purchased at the lowest possible price, respecting other bids and the reserve price. In the case of identical orders, the first received will have priority; always indicate a maximum amount not to be exceeded. Unlimited bids and “buy at any price” offers will not be accepted. Purchase orders must be given in euros.
Written orders can be:
The auction house takes extreme care in processing purchase orders. However, it cannot be held responsible for transcription errors of lots on the “Purchase Orders” forms. In fact, in case of an error between the number of a lot and its description, the lot number will be taken into account for the execution of the order. It is the responsibility of the order giver to be extremely vigilant in this regard.
5.4. Bidding by Phone
If you cannot be present at the auction, you can also bid directly by phone. Since the number of phone lines is limited, it is necessary to make arrangements at least 24 hours before the sale to obtain this service, subject to technical availability. We also recommend indicating a safety purchase order that we can execute on your behalf in case you cannot be reached by phone. Members of staff are available to bid by phone on your behalf in English, German, French, or Luxembourgish. Any request for a phone line implies a commitment to at least the starting bid (see the auction process section).
5.5. Bidding by Internet
Drouot Digital: An additional commission of 3% excluding VAT (i.e., 3.51% including VAT) will be added to the invoice.
6. Terms of Sale
The auction is governed by the general terms of sale. Anyone intending to bid must read these terms carefully. They may be modified by posting in the auction room or by announcements made by the person authorized to conduct the sale.
6.1. Access to Lots During the Sale
For security reasons, access to lots during the sale will be prohibited.
6.2. Conduct of the Sale
The person authorized to conduct the sale will start and continue the bidding at a level they deem appropriate and may bid successively or bid in response to other bids, on behalf of and for the account of the seller, up to the reserve price. If it is established that two or more bidders have simultaneously placed an equivalent bid on the same item, either aloud or by sign, and they claim the item at the same time after the announcement of the award, the item will be immediately put back up for auction at the price of the last bids, and the public will be allowed to bid again. In the case of equal bids between a previously received order from the auction house and an order in the room, the order in the room will take precedence.
No claims will be accepted once the award has been pronounced.
The person authorized to conduct the sale reserves the right to refuse any bid, to make any decision, to hold meetings, or to withdraw lots without having to justify their decision.
In the event of an adjudication error, the lot will be immediately put back up for auction. The person authorized to conduct the sale will sovereignly decide without appeal any disputes that may arise regarding the bids during the sale.
7. After the Sale
7.1. Payment
Payment must be made immediately after the sale. A receipt will be issued for this purpose. Payment can be made:
- In cash in euros for amounts under 10,000 euros;
- By credit card: Visa or Mastercard
- By bank transfer in euros, to the auction house at the following account:
- Bank: POST Luxembourg
Account holder: KANERZ ART SàRL
Bank address: 20 Rue de Reims L-2417 Luxembourg
IBAN: LU83 1111 7107 6344 0000
BIC: CCPLLULL
Do not forget to indicate your name and the number of your auction slip on the transfer form.
7.2. Default of Payment
In the absence of immediate payment for those present, the item is resold at the buyer's risk, who is liable for the difference between the two awards when it is negative.
7.3. Collection of Purchases – Storage Fees
Purchases can only be collected after payment. All lots can be picked up after the auction, upon presentation of the release authorization from the auction house's accounting department. We strongly recommend that buyers collect their lots after the sale. The tolerance of storage does not engage the responsibility of the auction house in any way, the item being under the exclusive guarantee of the buyer as soon as the award is pronounced. Storage fees will be charged to buyers who have not collected their purchases 30 days after the sale, at a rate of €10 per day per item.
8. Catalog Information
The information provided in the catalog is established by the auction house with the due diligence required for a voluntary auction house of art objects, subject to corrections posted in the auction room before the opening of the auction or those announced by the person authorized to conduct the sale at the beginning of the auction and recorded in the minutes of the sale. The information will be established based on the information provided by the seller, scientific, technical, and artistic knowledge, and the generally accepted opinion of experts and specialists existing at the date the said information is established. The information collected on the registration forms is mandatory to participate in the sale and then for the consideration and management of the award. You can know and have your data corrected, or oppose for legitimate reasons to their further processing, by sending a written request accompanied by a copy of your ID to the auction operator by mail or email.
