1. The seller irrevocably authorises Hôtel de Ventes HORTA nv, which agrees, to sell the items mentioned on the front of this document by public auction with commission, in its own name but on the seller’s account, and to collect the hammer price for them.
2. The commission payable to Hôtel de Ventes HORTA nv is determined by mutual agreement between the parties to be 15% of the hammer price, without prejudice to the right of the parties to agree a different percentage; the seller expressly authorises Hôtel de Ventes HORTA nv to deduct this commission from the hammer price stated on the other side of this document.
3. If the seller imposes a minimum hammer price or reserve price and that price is not achieved, the item will, in principle, be withdrawn from the sale. Nevertheless, and except in case of express refusal by the seller set down in writing, Hôtel de Ventes HORTA nv may sell the item for a lower price than the reserve price since the seller shall, in that situation, be entitled to receive the reserve price minus the commission on the said reserve price, and shall not be able to claim any other payment whatsoever.
4. Whether the lot is sold by public auction or withdrawn from the sale, for any reason whatsoever, the consignor is always obliged to pay Hôtel de Ventes Horta nv the sum of 2/1000 (two thousandths, with a minimum of eight euros) of the estimated maximum value of the consigned lot, as a contribution towards the cost of the all risks insurance cover referred to in article 10 of these General Terms and Conditions. An exit charge of 1 euro is payable.
5. In the event of a sale the seller remains the owner of the items until the moment of sale, when the ownership passes directly and immediately to the buyer. The seller retains ownership of unsold goods in all cases. Unsold items must be collected within 15 calendar days after the sale. After expiry of that period Hôtel de Ventes HORTA nv only has a best efforts obligation concerning storage thereof and the goods will no longer be covered by the all-risks insurance policy referred to in article 10. After a period of three months has expired since the sale, Hôtel de Ventes HORTA nv may sell the lots to the highest bidder to cover the costs that have been incurred.
6. The seller may request a reduction in the reserve price, but any increase in the reserve price will be refused. If, in exceptional circumstances, an increase is accepted or imposed by the decision of a court and the item does not find a buyer, Hôtel de Ventes HORTA nv shall apply a commission of 15%, as of right, to the average of the estimates. A debit note will be issued to the seller, who must pay it when collecting the lot.
7. The seller is not allowed to recover items that have been registered for sale, nor to bid for his own items, either in person or through an intermediary. If he fails to comply with this rule, Hôtel de Ventes HORTA nv may require him to make a payment, as of right, if the item has b been sold, equal to the sale costs, namely 30% of the hammer price, without prejudice to the commission, even if the item is sold to the seller and, if the item is not sold, a fixed payment equal to 30% of the average estimates on the front of this document.
8. The seller, whether he is acting in good faith or not, is solely liable for defects and errors, even if they are hidden, in the items sold and gives a guarantee to Hôtel de Ventes HORTA nv that he is the sole owner of the goods being sold and is the sole holder of the right to sell them. He guarantees and is solely liable for the correctness of the statements on the front of this document and for the authenticity of the items sold.
If applicable, the seller indemnifies Hôtel de Ventes HORTA nv for thirty years against all claims that may be filed against it by third parties, and in particular by buyers, on the basis of the aforementioned, regardless of the legal grounds that they invoke, and shall indemnify Hôtel de Ventes HORTA nv for amounts that are paid or reimbursed on the basis thereof, even if such payments are made on a voluntary basis. The same applies to all royalties and reproduction rights that may be claimed by the entitled parties and/or collection companies. The seller shall, furthermore, in case of nullity, dissolution or annulment of the sale to Hôtel de Ventes HORTA nv, make a fixed payment of 20% of the hammer price to cover the cost of organising the sale.
In any case, and without prejudice to the application of the above paragraphs, if it becomes clear that the seller knew of, or could not be unaware of the fact that the items displayed deficiencies or faults or were false or that the statements on the front of this document were incorrect or false or if he was not the rightful owner or not entitled to sell them, Hôtel de Ventes HORTA nv may claim a supplementary fixed payment from him which is equal to 20% of the estimate, if applicable the highest one, that is stated on the other side of this document.
In any case, and without prejudice to the application of the above paragraphs, Hôtel de Ventes HORTA nv may, in case of dispute by any person in connection with the item, including relating to faults or deficiencies in it, rightful ownership or entitlement to sell the item, or concerning authenticity or statements concerning authenticity on the front of this document, regardless of the legal grounds invoked for this, keep the item and the price paid for it, or give these in custody to a third party, at the seller’s expense, with no possibility of any claim for compensation in relation to this, pending the result of the dispute.
9. Hôtel de Ventes HORTA nv may, without having to justify its action, postpone items to a later sale, in full or in part, or even withdraw the items from sale permanently, and no claim for compensation can be made against it.
10. Hôtel de Ventes HORTA nv is responsible for storing the items once they have been physically handed over at its premises and subject to reservation concerning the special terms and conditions concerning unsold items as stipulated in article 5 above.
In case of any damage, the seller may only claim the cost of repair from Hôtel de Ventes HORTA nv, provided the latter’s liability has been established, and in the absence of fraud by the former or by its governing organs or employees, and in case of total loss, it may claim compensation which cannot, under any circumstances, be greater than the minimum estimate stated on the front of this document.
Hôtel de Ventes HORTA nv is not in any way liable for any damage to frames and glass. To cover its liability for the above-mentioned, Hôtel de Ventes HORTA nv shall take out an all risks insurance policy in its own name.
11. The amounts that are payable to the seller by Hôtel de Ventes HORTA nv, insofar as the buyer himself has paid the hammer price and the costs, shall be paid either in cash on Wednesday, Thursday and Friday two weeks after the public auction, or by bank transfer during the month following the above-mentioned public auction, into the account stated by the seller on the front of this ‘consignment form’.
Except in case of fraud or serious fault committed by Hôtel de Ventes HORTA nv, its governing bodies or employees, it cannot be held liable under any circumstances whatsoever for failure to pay or for late payment by the buyer and, more generally, for failures by the latter to meet his obligations in full. In case of failure to pay, the seller may, at his own initiative, but no sooner than 90 days after the sale, request the return, under his own liability and on presentation of this ‘consignment form’, of items not collected by the buyer and not paid for, and shall not be able to make any other claim whatsoever against Hôtel de Ventes HORTA nv. The latter shall, if applicable, take the necessary legal steps against the buyer, on the instructions of the seller, on the seller’s account and at the seller’s expense, provided the seller has advanced sufficient funds for this beforehand.
12. The seller confers all rights upon Hôtel de Ventes HORTA nv to photograph any item whatsoever entirely as it shall see fit, and at any time whatsoever, including for its catalogue, its ‘Year Book’, its advertising etc.
13. Any amounts that the seller owes to Hôtel de Ventes HORTA nv for any reason which remains unpaid on the due date, shall yield interest, as of right and without notice of default, which is determined to be 1.25% per month, which is also payable in full for part of a month, plus a fixed payment which is determined to be 15% of the amount that is due.
14. Any disputes shall be heard exclusively by the courts of Brussels and in any case always by courts in Belgium. This contract is governed by Belgian law.
15. If any article or part of an article in these general terms and conditions is void, invalid or not enforceable, for any reason whatsoever, the remaining stipulations shall still be applicable.