CONDITIONS OF SALE
Christie’s Conditions of Sale and Limited Warranty are set out
later in this catalogue. Bidders are strongly encouraged to read
these as they set out the terms on which property is bought
at auction.
ESTIMATES
Estimates are based upon prices recently paid at auction for
comparable property, condition, rarity, quality and provenance.
Estimates are subject to revision. Buyers should not rely upon
estimates as a representation or prediction of actual selling
prices. Estimates do not include the buyer’s premium or VAT.
Where “Estimate on Request” appears, please contact the
Specialist Department for further information.
RESERVES
The reserve is the confidential minimum price the consignor
will accept and will not exceed the low pre-sale estimate. Lots
that are not subject to a reserve are identified by the symbol •
next to the lot number.
BUYER’S PREMIUM
Christie’s charges a premium to the buyer on the final bid
price of each lot sold at the following rates: 25% of the final
bid price of each lot up to and including £25,000, 20% of
the excess of the hammer price above £25,000 and up to and
including £500,000 and 12% of the excess of the hammer
price above £500,000. Exceptions: Wine: 15% of the final
bid price of each lot. VAT is payable on the premium at the
applicable rate.
PRE-AUCTION VIEWING
Pre-auction viewings are open to the public free of charge.
Christie’s specialists are available to give advice and condition
reports at viewings or by appointment.
BIDDER REGISTRATION
Prospective buyers who have not previously bid or consigned
with Christie’s should bring:
• Individuals: government-issued photo identification (such as
a photo driving licence, national identity card, or passport) and,
if not shown on the ID document, proof of current address, for
example a utility bill or bank statement.
• Corporate clients: a certificate of incorporation.
• For other business structures such as trusts, offshore
companies or partnerships, please contact Christie’s Credit
Department at + 44 (0)20 7839 2825 for advice on the
information you should supply.
• A financial reference in the form of a recent bank statement
or a reference from your bank in line with your expected
purchase level. Christie’s can supply a form of wording for the
bank reference if necessary.
• Persons registering to bid on behalf of someone who has
not previously bid or consigned with Christie’s should bring
identification documents not only for themselves but also for
the party on whose behalf they are bidding, together with a
signed letter of authorisation from that party.
To allow sufficient time to process the information, new clients
are encouraged to register at least 48 hours in advance of a sale.
Prospective buyers should register for a numbered bidding
paddle at least 30 minutes before the auction. Clients who have
not made a purchase from any Christie’s office within the last
one year, and those wishing to spend more than on previous
occasions, will be asked to supply a new bank reference. For
assistance with references, please contact Christie’s Credit
Department at +44 (0)20 7389 2862 (London, King Street)
or at +44 (0)20 7752 3137 (London, South Kensington). We
may at our option ask you for a financial reference or a
deposit as a condition of allowing you to bid.
REGISTERING TO BID ON SOMEONE ELSE’S BEHALF
Persons bidding on behalf of an existing client should bring
a signed letter from the client authorising the bidder to act
on the client’s behalf. Please note that Christie’s does not
accept payments from third parties. Christie’s can only accept
payment from the client, and not from the person bidding
on their behalf.
BIDDING
The auctioneer accepts bids from those present in the saleroom,
from telephone bidders, or by absentee written bids left
with Christie’s in advance of the auction. The auctioneer may
also execute bids on behalf of the seller up to the amount of
the reserve. The auctioneer will not specifically identify bids
placed on behalf of the seller. Under no circumstances will the
auctioneer place any bid on behalf of the seller at or above the
reserve. Bid steps are shown on the Absentee Bid Form at the
back of this catalogue.
ABSENTEE BIDS
Absentee bids are written instructions from prospective buyers
directing Christie’s to bid on their behalf up to a maximum
amount specified for each lot. Christie’s staff will attempt to
execute an absentee bid at the lowest possible price, taking
into account the reserve price. Absentee bids submitted on “no
reserve” lots will, in the absence of a higher bid, be executed at
approximately 50% of the low pre sale estimate or at the amount
of the bid if it is less than 50% of the low pre-sale estimate. The
auctioneer may execute absentee bids directly from the rostrum,
clearly identifying these as “absentee bids”, “book bids”, “order
bids” or “commission bids”. Absentee Bids Forms are available
in this catalogue, at any Christie’s location, or online at christies.
com.
TELEPHONE BIDS
Telephone bids cannot be accepted for lots estimated below
£2,000. Arrangements must be confirmed with the Bid
Department at least 24 hours prior to the auction at +44 (0)20
7389 2658 (London, King Street) or +44 (0)20 7752 3225
(London, South Kensington). Arrangements to bid in languages
other than English must be made well in advance of the sale
date. Telephone bids may be recorded. By bidding on the
telephone, prospective purchasers consent to the recording of
their conversation.
SUCCESSFUL BIDS
While Invoices are sent out by mail after the auction we do not
accept responsibility for notifying you of the result of your bid.
Buyers are requested to contact us by telephone or in person as
soon as possible after the sale to obtain details of the outcome
of their bids to avoid incurring unnecessary storage charges.
Successful bidders will pay the price of the final bid plus
premium plus any applicable VAT.
PAYMENT
Buyers are expected to make payment for purchases
immediately after the auction. To avoid delivery delays,
prospective buyers are encouraged to supply bank or other
suitable references before the auction. Please note that Christie’s
will not accept payments for purchased Lots from any party
other than the registered buyer.
Lots purchased in London may be paid for in the following
ways: wire transfer, credit card: Visa and MasterCard only (up
to £25,000), and cash (up to £5,000 (subject to conditions)),
bankers draft (subject to conditions) or cheque (must be drawn
in GBP on a UK bank; clearance will take 5 to 10 business days).
Wire Transfers: Lloyds TSB Bank Plc City Office PO Box 217
72 Lombard Street, London
EC3P 3BT A/C: 00172710 Sort Code: 30-00-02 for
international transfers, SWIFT LOYDGB2LCTY. For banks
asking for an IBAN: GB81 LOYD 3000 0200 1727 10.
Credit Card: Visa and MasterCard only A limit of £25,000 for
credit card payments will apply. This limit is inclusive of the
buyer’s premium and any applicable taxes. Credit card payments
at London sale sites will only be accepted for London sales.
Christie’s will not accept credit card payments for purchases
made in any other sale site. The fax number to send completed
CNP (Card Member not Present) authorisation forms to is +44
(0) 20 7389 2821. The number to call to make a CNP payment
over the phone is +44 (0) 20 7752 3388. Alternatively, clients
can mail the authorisation form to the address below.
Cash is limited to £5,000 (subject to conditions).
Bankers Draft should be made payable to Christie’s (subject to
conditions).
Cheques should be made payable to Christie’s (must be drawn
in GBP on a UK bank, clearance will take 5 to 10 business
days).
In order to process your payment efficiently, please quote
sale number, invoice number and client number with all
transactions.
All mailed payments should be sent to:
Christie’s, Cashiers’ Department, 8 King Street, St James’s,
London, SW1Y 6QT
Please direct all inquiries to King Street Tel: +44 (0) 20 7389
2996 Fax: +44 (0) 20 7389 2863 or South Kensington Tel:
+44 (0) 20 7752 3138 Fax: +44 (0) 20 7752 3143
VAT
Ω or †
VAT payable at 20% on hammer price and buyer’s premium
*
VAT payable at 5% on hammer price and at 20% on the
buyer’s premium
Ω or *
These lots have been imported from outside the EU for sale
using a Temporary Importation procedure. Where a buyer of
such a lot has registered an EU address but wishes to export the
lot or complete the import into another EU country, he must
advise Christie’s immediately after the auction.
α
Buyers from within the EU:
VAT payable at 20% on just the buyer’s premium (NOT the
hammer price).
Buyers from outside the EU:
VAT payable at 20% on hammer price and buyer’s premium.
If a buyer, having registered under a non-EU address, decides
that the item is not to be exported from the EU, then he
should advise Christie’s to this effect immediately
(no symbol)
Auctioneers’ Margin Scheme
In all other circumstances no VAT will be charged on the
hammer price, but VAT payable at 20% will be added to the
buyer’s premium which is invoiced on a VAT inclusive basis.
Book Auctions
As above except:
(no symbol)
No VAT charged.
# In all other circumstances no VAT will be charged on the
hammer price, but VAT payable at 20% will be added to the
buyer’s premium which is invoiced on a VAT inclusive basis.
Wine Auctions
‡ Stock offered duty-paid, but available in bond.
VAT at 20% on hammer price and buyer’s premium
(wine only).
VAT Refunds
Refunds cannot be made where lots have been purchased with
an inside EU address. Christie’s can only refund Import VAT
(Lots with * or Ω symbol) if lots are exported within 30 days
of collection. All other lots must be exported within 3 months
of collection. Valid export documents must be returned within
the stipulated time frame. No refund will be paid out where
the total amount is less than £100. UK & EU private buyers
cannot reclaim VAT. Christie’s will charge £35 for each refund
processed. In respect of Daggered lots, Christie’s are disallowed
by HMRC from refunding the VAT on the buyer’s premium
under any circumstances. For detailed information please see the
leaflets available, or email info@Christies.com
ARTIST’S RESALE RIGHT (“DROIT DE SUITE”)
If a lot is affected by this right it will be identified with the
symbol λ next to the lot number. The buyer agrees to pay to
Christie’s an amount equal to the resale royalty and we will
pay such amount to the artist’s collecting agent. Resale royalty
applies where the Hammer Price is 1,000 Euro or more and
the amount cannot be more than 12,500 Euro per lot. The
amount is calculated as follows:
Royalty For the portion of the Hammer Price (in Euro)
4.00% up to 50,000
3.00% between 50,000.01 and 200,000
1.00% between 200,000.01 and 350,000
0.50% between 350,000.01 and 500,000
0.25% in excess of 500,000
Invoices will, as usual, be issued in Pounds Sterling. For the
purposes of calculating the resale royalty the Pounds Sterling/
Euro rate of exchange will be the European Central Bank
reference rate on the day of the sale.
SHIPPING
It is the buyer’s responsibility to pick up purchases or make
all shipping arrangements. After payment has been made in
full, Christie’s can arrange property packing and shipping at
the buyer’s request and expense. Buyers should request an
estimate for any large items or property of high value that
require professional packing. A shipping form is enclosed with
each invoice, alternatively buyers can visit www.christies.com/
shipping to request a shipping estimate.
For more information please contact the Shipping Department
at + 44 (0)20 7389 2712 or via
ArtTransport_London@christies.com for both London,
King Street and London, South Kensington sales.
EXPORT OF GOODS FROM THE EU
If you are proposing to take purchased items outside the EU the
following applies:
Christie’s Art Transport:
If you use Christie’s Art Transport you will not be required to
pay the VAT at the time of settlement.
Christie’s VAT authorised Shipper:
If you use a Christie’s VAT authorised shipper you will not be
required to pay the VAT at the time of settlement.
Own Shipper:
VAT will be charged on the invoice, refundable by the VAT
Department upon receipt of the appropriate official documents
sent to us by your shipper.
Hand-Carried:
VAT will be charged on the invoice.This will be refunded by
the VAT Department upon receipt of the appropriate official
document.
* or Ω
Starred and Omega lots – A C88 can be obtained from
Christie’s Shipping Department .This document must be
stamped by UK Customs on leaving the UK.
# or †
Margin Scheme and Daggered lots – Please obtain VAT
Notice 4 07 from the Cashiers. This document must be stamped
by UK Customs on leaving the UK.
Under all circumstances lots must be exported within 3 months
of the date of sale, and proof of export provided on the
appropriate form.
EXPORT/IMPORT PERMITS
Buyers should always check whether an export licence is required
before exporting. It is the buyer’s sole responsibility to obtain any
relevant export or import licence. The denial of any licence or
any delay in obtaining licences shall neither justify the rescission of
any sale nor any delay in making full payment for the lot.
Christie’s can advise buyers on the detailed provisions of the
export licensing regulations and will submit any necessary
export licence applications on request. However, Christie’s
cannot ensure that a licence will be obtained. Local laws may
prohibit the import of some property and/or may prohibit
the resale of some property in the country of importation.
For more information, please contact Christie’s Shipping
Department at +44 (0)20 7389 2828 or the the Museums,
Libraries and Archives Council: Acquisitions, Export and Loans
Unit at +44 (0)20 7273 8269/8267.