Definitions

For the purposes of these General Conditions of Business, the following terms shall have the meanings set out below unless the context requires otherwise: 

• "Buyer" means the person or entity who purchases the Property through the Company.
• "Company" means Global Auction, acting as the auctioneer and intermediary between the Seller and the Buyer.
• "Conditions" means these General Conditions of Business for Sellers, together with any applicable Memorandum of Understanding (MoU), Consignment Agreement, or other written agreement between the Seller and the Company.
• "Consignment" means the delivery of the Property by the Seller to the Company and the Seller’s authorization for the Company to offer the Property for sale through auction or private sale.
• "Property" means any artwork, painting, sculpture, collectible, or other item consigned by the Seller to the Company for sale.
• "Reserve Price" means the minimum selling price agreed in writing between the Seller and the Company, below which the Property will not be sold without the Seller’s prior written consent.
• "Seller" means the owner of the Property or a person who has lawful authority to consign and sell the Property on behalf of the owner.

1. Appointment of Global Auction

1.1 The Seller appoints Global Auction ("the Company") as its exclusive agent to offer the Property for sale through an online auction, live auction, or private sale as agreed by both parties.

1.2 During the consignment period, the Seller grants the Company exclusive authority to market, exhibit, catalogue, photograph, advertise, and offer the Property for sale.

1.3 The Company acts solely as an intermediary between the Seller and the Buyer and does not guarantee that the Property will be sold.

2. Seller's Warranties

The Seller represents and warrants that:

(a) the Seller is the lawful owner of the Property or has full legal authority from the owner to consign and sell the Property, and shall provide written authorization if acting on behalf of another party;

(b) the Property is free from any lien, encumbrance, security interest, dispute, seizure, or third-party claim, including any claim by a spouse, heir, or other person;

(c) the Property has been lawfully acquired and is not derived from or connected with any criminal activity;

(d) all information, documentation, certificates, provenance records, and statements provided to the Company regarding the Property are true, complete, and accurate;

(e) the Seller has disclosed to the Company any known restoration, alteration, repair, conservation treatment, damage, authenticity concerns, provenance issues, ownership disputes, or condition issues affecting the Property;

(f) the Seller has complied with all applicable export, import, cultural property, customs, and regulatory requirements relating to the Property;

(g) the Property is authentic to the best of the Seller's knowledge and does not infringe any intellectual property or ownership rights of third parties.

If any of the warranties given by the Seller are found to be untrue or are breached, the Seller shall be responsible for any claims, losses, damages, liabilities, or expenses suffered by the Company or the Buyer as a result. 

3. Documentation and Delivery

3.1 The Seller shall provide all documents reasonably requested by the Company, including but not limited to proof of ownership, provenance records, certificates, and identification documents.

3.2 The Seller shall deliver the Property to the Company by the agreed deadline and in the same condition as represented during consignment.

3.3 The Company may refuse to offer or may withdraw any Property if documentation is incomplete or if authenticity or ownership cannot be satisfactorily established.

4. Reserve Price

4.1 Any Reserve Price shall be agreed in writing between the Seller and the Company prior to the publication of the auction catalogue.

4.2 The Company shall not sell the Property below the agreed Reserve Price without the Seller's prior written consent.

4.3 Once agreed, the Reserve Price may not be changed except by mutual written agreement between the Seller and the Company before the auction.

5. Commission and Fees

5.1 The Seller agrees to pay the Company's agreed Seller's Commission together with any applicable taxes, insurance charges, marketing costs, restoration costs, framing costs, shipping expenses, or other agreed fees.

5.2 The Company may deduct such amounts from the sale proceeds before remitting payment to the Seller.

6. Payment to Seller

6.1 If the Property is sold and full payment has been received from the Buyer, the Company shall remit the net proceeds to the Seller after deduction of all applicable commissions, taxes, and charges.

6.2 Payment shall only be made after the Buyer has fully settled all obligations and the sale has become final.

6.3 The Company shall not be obliged to advance payment to the Seller before receiving payment from the Buyer.

7. Unsold Property

7.1 If the Property remains unsold, the Seller shall collect the Property within seven (7) calendar days after notification by the Company unless otherwise agreed.

7.2 If the Seller fails to collect the Property within such period, storage, handling, transportation, insurance, and related costs may be charged to the Seller.

7.3 The Company shall not be liable for deterioration, loss, or damage occurring after the collection deadline except where caused by the Company's gross negligence or wilful misconduct.

8. Withdrawal of Property

8.1 Once the Property has been consigned and accepted by the Company, the Seller has signed the applicable Memorandum of Understanding (MoU) or Consignment Agreement, and the auction catalogue or listing has been published, the Seller may not withdraw the Property from the auction.

8.2 Global Auction may, at its option, withdraw any lot from auction at any time prior to or during the sale of the lot. Global Auction has no liability to you for any decision to withdraw.

9. Responsibility for Claims

The Seller shall be responsible for any claims, losses, liabilities, damages, costs, or expenses incurred by the Company, its directors, employees, agents, or the Buyer arising from:

(a) any breach of these Conditions by the Seller;

(b) any false, inaccurate, incomplete, or misleading information provided by the Seller;

(c) any dispute relating to the ownership, authenticity, provenance, title, or legal status of the Property, including compliance with applicable export or import requirements; or

(d) any claim made by a third party in relation to the Property.

10. Reputation and Good Faith

Both parties shall perform this agreement in good faith and shall refrain from any conduct that may damage the reputation or business interests of the other party.

11. Termination

Neither party may unilaterally terminate this agreement after the Property has been accepted for auction except by mutual written agreement or where termination is permitted by law or these Conditions.

12. Force Majeure

13.1 Neither party shall be liable for failure or delay in performing its obligations where such failure results from events beyond its reasonable control, including but not limited to war, civil unrest, riots, strikes, natural disasters, pandemics, governmental actions, or other force majeure events.

13.2 The affected party shall promptly notify the other party of the occurrence of such event and use reasonable efforts to mitigate its effects.