101 PROJECT CONTEMPORARY ART GALLERY AND AUCTION HOUSE AUCTION REGULATIONS

The person entering an auction, signing the Bidding Order form (telephone bidding or bidding by buyer’s order, with a price limit) or the Registration Form (personal bidding) confirms knowledge and acceptance of auction conditions specified in the 101 Project Contemporary Art Gallery and Auction House Auction Regulations. Post-auction sales of objects are also subject to the terms of sales specified in the 101 Project Contemporary Art Gallery and Auction House Auction Regulations. The 101 Project Contemporary Art Gallery and Auction House is a commercial intermediary between the committees putting objects up for auction and the buyers, acting in its own name, but on behalf of the committer authorized to dispose of the object, unless otherwise stated in the catalog, its amendments or notices given prior to the auction. Auction terms specified in the Auction Regulations may be revoked or amended by the 101 Project Contemporary Art Gallery and Auction House through annexes made available in the auction hall or by notice of the auctioneer.

Participation in the auction is either personal or via phone bidding order or placing a bidding order with a price limit or online via the Onebid portal www.101projekt.onebid.pl or ArtInfo https://artinfo.pl/.

 

Personal bidding is performed at the Project 101Gallery at Piękna 62/64, after completing the Registration Form, presenting a document confirming the identity of the auction participant and reception of a number plate. The auctioned amount does not include the auction fee and the fee resulting from the so-called droit de suite in case of auctioning objects to which this fee is added. When the auction is over, the number plate should be returned and, in case of making any purchases, the Confirmation of Contained Transactions needs to be collected.

 

Phone bidding is realized by a 101 Project Contemporary Art Gallery and Auction House employee, on behalf of the buyer, after submitting the Bidding Order, 24 hours before the auction starts at the latest. The 101 Project Contemporary Art Gallery and Auction House is not responsible for orders placed after this deadline. The bidding order form can be found at the registered offices of 101 Project Contemporary Art Gallery and Auction House at Piękna 62/64, as well as on the website of the 101 Project Contemporary Art Gallery and Auction House - www.101projekt.pl. The form can be delivered to 101 Project Contemporary Art Gallery and Auction House by mail, e-mail or in person. A 101 Project Contemporary Art Gallery and Auction House employee will contact the person submitting the Bidding in order to confirm the receipt of the Bidding Order.

Before the auction of the selected object starts, the employee will connect with the buyer. 101 Project Contemporary Art Gallery and Auction House is not responsible for any failures to participate in telephone bidding due to connection problems. The auctioned amount does not include the auction fee and the fee resulting from the so-called droit de suite in case of auctioning objects to which this fee is added. 101 Project Contemporary Art Gallery and Auction House reserves the right to record and archive telephone calls on a confidential basis.

 

Bidding on buyer's order with a price limit is realized by a 101 Project Contemporary Art Gallery and Auction House employee, on behalf of the buyer, after submitting the Bidding Order, 24 hours before the auction starts at the latest. 101 Project Contemporary Art Gallery and Auction House is not responsible for orders placed after this deadline. The stated price limit should not include the auction fee and the fee resulting from the so-called droit de suite in case of auctioning objects to which this fee is added. The price limit quoted by the buyer is confidential. The amount should be expressed in Polish zlotys in accordance with the bidding table. In case of non-compliance with the bidding table, it will be lowered to the bidding level. An item cannot be purchased at a price lower than the guarantee price; if a price limit is lower than the guarantee price, a conditional transaction is made. The bidding order form is available at 101 Project Contemporary Art Gallery and Auction House offices at Piękna 62/64 as well as on the website of the 101 Project Contemporary Art Gallery and Auction House - www.101projekt.pl. In case of two or more orders with the same limit, the order of entries is decisive. The form can be delivered to 101 Project Contemporary Art Gallery and Auction House by mail, e-mail or in person. 101 Project Contemporary Art Gallery and Auction House employee will contact the person submitting the Bidding order in order to confirm the receipt of the Bidding Order.

 

 

Online biding via the Onebid portal www.101projekt.onebid.pl and Artinfo portal www.artinfo.pl

 

The bidding service performed by a 101 Project Contemporary Art Gallery and Auction House employee on behalf of the buyer is free of charge. 101 Project Contemporary Art Gallery and Auction House will apply all due diligence in order to realize the order, however, it is not responsible for not realizing the bidding order, unless the fault for failure to execute the order lies solely with 101 Project Contemporary Art Gallery and Auction House.

 

Bidding table.

Bidding begins from the starting price upwards and takes place in accordance with the bidding table. The auctioneer has the right to decide on a different bidding amount.

Asking price – listed in the catalogue, it is the amount from which an auction starts. Bidding may end at an amount equal to the asking price or higher.

Estimate – given in the catalogue, it is the estimated value of an object and serves as an indication for a buyer interested in an object. Bidding completed within the estimation range or above its upper limit is a final transaction. Estimates do not include auction fees or additional fees.

Guarantee price – the lowest price an item can be sold for without the consent of the committer. It is within the range between the starting price and the lower limit of the estimation. The amount of the guarantee price is confidential. If a guarantee price is not reached during the auction, a conditional contract is concluded, which is announced by the auctioneer after a hammer strike. Not all objects must have a guarantee price.

Conditional transaction- is concluded when an object at auction has not reached the guarantee price. Conditional transaction is treated as a binding offer to purchase an object at the auctioned price. The 101 Project Contemporary Art Gallery and Auction House is obliged to negotiate with the committee in order to obtain acceptance of the auctioned price. The sales contract will take effect if 101 Project Contemporary Art Gallery and Auction House will succeed in negotiating with the committer the auctioned price or the buyer raises its offer to the guarantee price level. If the negotiations with the committer yield no positive results within 5 days, the item is considered unsold. During this period 101 Project Contemporary Art Gallery and Auction House reserves the right to accept, by way of a post-auction sale, offers equal to the same price as the guarantee price. If the 101 Project Contemporary Art Gallery and Auction House receives such an offer, it must inform the customer who has auctioned the item conditionally. If the customer raises his offer to the guarantee price, he has precedence in the purchase.

The auction fee- the auction fee is added to the bid amount. The fee is calculated degressively depending on the bid amount: up to 100,000 zł (included) – 20% fee, over 100,000 zł – 15% fee. The auction fee is also obligatory in the case of post-auction sale. The bid amount along with the auction fee include VAT. 101 Project Gallery issues a VAT margin invoice for the purchased object if the client requests such a document. The document is prepared within 7 days’ time from the date of payment.

◆ is a symbol used to label objects with the droit de suite,i.e. a fee resulting from the owner’s and his/her inheritors’ right to receive payment due to the professional reselling of original versions of works of art.

The above fee is calculated according to the following rates:

1) 5 % of the bid amount if this part is in the range up to the equivalent of EUR 50,000 and

2) 3 % of the bid amount, if this part is in the range from the equivalent of EUR 50,000.01 to the equivalent of EUR 200,000 and

3) 1 % of the bid amount, if this part is in the range from the equivalent of EUR 200,000.01 to the equivalent of EUR 350,000 and

4) 0,5 % of the bid amount, if this part is in the range from the equivalent of EUR 350,000.01 to the equivalent of EUR 500,000 and

5) 0,25 % of the bid amount, if this part is in the range exceeding the equivalent of EUR 500,000 but no higher than the equivalent of EUR 12,500.

The fee will be calculated according to the average daily exchange rate of the National Bank of Poland from the day preceding the auction. The fee will be calculated when the equivalent of the bid exceeds EUR 100.

In Poland, droit de suite is regulated by art. 19-195 of the Copyright and Related Rights Act of 4 February 1994, as amended, in line with the European Union Directive 2001/84 / EC of the European Parliament and Council of 27 September 2001 on author's right to remuneration resulting from resale of an original work of art.

 

The auction is conducted by an auctioneer who reads the objects and their consecutive bids, indicates the bidders, announces the end of the auction by a hammer strike and points to the winner, which is tantamount to a sale contract between 101 Project Contemporary Art Gallery and Auction House and the bidder who has offered the highest bid.

The auction is conducted in Polish.

Disputes that may occur during the auction are settled by the auctioneer, who also holds the option to re-auction the object.

101 Project Contemporary Art Gallery and Auction House may record the course of the auction by means of recording equipment.

The auctioneer has the right to withdraw an item from the auction without giving a reason.

The auctioneer has the right to supplement or change the descriptions contained in the catalog.

The auctioneer starts the auction. The auctioneer may accept bids that differ from those from the bidding table.

Polish museums have the right of pre-emption at the price bid, provided they submit it immediately after the auction ends - this applies to objects that are relics.

If an object shall have no bids, the auctioneer declares that this object is unsold.

The Gallery has the right to refuse to allow certain persons to participate in the auction or to perform a post-auction sale.

At the end of the auction, the buyers who have made a purchase will receive a Confirmation of Contained Transactions from the 101 Project Contemporary Art Gallery and Auction House, immediately following the auction (personal bidding) or by e-mail (telephone bidding, bidding with a price limit), within 24 hours of the end of the auction.

The bid amount is increased by the amount of the auction fee and the fee resulting from the so-called droit de suite in case of auctioning objects to which this fee is added.

The buyer is required to pay for the auctioned objects within 7 days from the date of auction. For exceeding the payment deadline, 101 Project Contemporary Art Gallery and Auction House may charge interest at the rate of 12% per annum for the period of delay in payment. Payment can be made by cash, credit card (we accept VISA and MasterCard), via PayU and bank transfer to the account:

- Santander Bank Polska S.A. 51 1090 1030 0000 0001 3256 3249, SWIFT WBKKPPLPP

In the title of the transfer, please enter the name, auction date and object number.

All transactions are concluded in Polish zloty. At the request of the buyer, with prior arrangements, we accept US dollars, Euro and British Pounds, converted at the daily rate of Santander Bank Polska S.A. currency exchange. The auctioned amount with the auction fee includes VAT. At the buyer's prior request, 101 Project Contemporary Art Gallery and Auction House issues a VAT margin invoice.

In the event of failure of payment by the deadlineand ineffective expiry of the additional deadline, 101 Project Contemporary Art Gallery and Auction House has the right to:

- store the object on 101 Project Contemporary Art Gallery and Auction House premises or in external storage at the buyer's risk and expense;

- withdrawal from the sale of the object retaining the existing charges for damages;

- reject the buyer's orders in future or realize them on condition of payment of a deposit;

- calculate interest at the rate of 12% per annum from the due date until full payment;

- resell the item at an auction or in a gallery with a minimum price, charging the delinquent buyer with the difference between the price at which the item was purchased and the price at which the delinquent buyer has auctioned the item;

- initiate court proceedings against the buyer to enforce the dues;

- deduct the buyer's dues towards 101 Project Contemporary Art Gallery and Auction House from the 101 Project Contemporary Art Gallery and Auction House receivables due to the buyer resulting from other transactions;

- take other appropriate actions.

Purchased items should be picked up within 10 days from the auction date. Property release may occur after full payment of the amount due. The object may be issued to the buyer upon presentation of an identity document or to a buyer’s proxy, on the basis of a written authorization.

In case of any objects not picked up on time, 101 Project Contemporary Art Gallery and Auction House may charge the buyer with costs of storage and transportation.

In case of any objects not picked up on time, 101 Project Gallery may charge the buyer with costs of storage and transportation.

101 Project Contemporary Art Gallery and Auction House provides the packaging for the sold objects, facilitating personal receipt. 101 Project Contemporary Art Gallery and Auction House provides an item packaging for personal pickup or standard shipping via a carrier designated by the buyer. All shipping and insurance costs will be borne by the buyer.At the buyer's express request, 101 Project Contemporary Art Gallery and Auction House can organize specialized packaging and transport of the purchased objects. 101 Project Contemporary Art Gallery and Auction House is not responsible for any damage to the object during transportation.

Liability of the 101 Project Contemporary Art Gallery and Auction House with respect to the buyer excludes any warranties other than those set forth below:

1. Subject to point 6 below, the liability of 101 Project Contemporary Art Gallery and Auction House shall be limited solely to the purchase price paid by the buyer;

2. 101 Project Contemporary Art Gallery and Auction House is not responsible for information provided to the buyer, orally or in writing, and for errors in the course of the auction or other errors made in connection with the sale of the object;

3. Regardless of the nature of the damage subject to point 6 below, the 101 Project Contemporary Art Gallery and Auction House is not liable to the buyer in excess of the purchase price and is not obliged to pay interest on the purchase price;

4. The 101 Project Contemporary Art Gallery and Auction House confirms the authenticity of the object by issuing a Certificate. Confirmation of authenticity is determined by the author of the object and the date of its creation. If the person who purchased the object shall question the description of the object in the catalogue, documenting this with credible expertise, the buyer may return the object to 101 Project Contemporary Art Gallery and Auction House within 14 days of purchase, and the 101 Project Contemporary Art Gallery and Auction House shall refund the buyer the full amount paid;

5. The 101 Project Contemporary Art Gallery and Auction House is not responsible for any hidden physical and legal defects of the purchased objects;

6. The 101 Project Contemporary Art Gallery and Auction House is liable to the buyer for fraud, intentional misleading or willful fault.

Copyrights, or the right to reproduce an object, are not passed on by the seller with the purchased object. Copyright for photographs, illustrations and texts related to the object, prepared by 101 Project Contemporary Art Gallery and Auction House or for 101 Project Contemporary Art Gallery and Auction House, is the property of 101 Project Contemporary Art Gallery and Auction House and may not be used without the prior written consent of 101 Project Contemporary Art Gallery and Auction House.

Complaints are dealt with in accordance with Polish law. Any nonconformity of the goods with the contract can be subject to complaints for a period of one year from the issue of the object. 101 Project Contemporary Art Gallery and Auction House is not liable to non-direct buyers at the auction, for hidden physical defects and legal defects of the purchased object.

101 Project Contemporary Art Gallery and Auction House is liable to the buyer for damages or loss of the object only up to the purchase price of the object.

101 Project Contemporary Art Gallery and Auction House may require the buyer to provide personal information in relation to the services provided and legal requirements. 101 Project Contemporary Art Gallery and Auction House can use the buyer's personal information for marketing purposes by providing information about the services, products and events organized by the 101 Project Contemporary Art Gallery and Auction House. As required by the Personal Data Protection Act of 29 August 1997, personal data of registered buyers are confidential and are used by 101 Project Contemporary Art Gallery and Auction House to the extent necessary to execute an order. In accordance with art.8 and following of the Anti-Money Laundering and Terrorist Financing Act of 16 November 2000, 101 Project Contemporary Art Gallery and Auction House is obliged to collect personal data of clients performing transactions above EUR 15000.

By accepting the Regulations, the buyer agrees to the use of personal data provided by him for the aforementioned purposes. The buyer has the right to inspect his / her personal data, correct it or resign from marketing correspondence, for this purpose he / she should contact 101 Project Gallery by telephone 882 022 604, 690 431 336 or by e-mail at auction@101projekt.pl.

These Regulations, together with subsequent amendments and additions, exhaust all the rights and obligations between the parties with regard to the sale of an auctioned object or the sale of a property in the scope not governed by mandatory laws. 101 Project Contemporary Art Gallery and Auction House reserves the right to change the Regulations.

Notices between the parties should be addressed in writing to the addresses provided in the most recent correspondence between the parties.