CONDITIONS OF AUCTION (Updated on 20 July 2020)


Introduction

1. The Quadro Gallery Ltd, registered address 7, Samuil Micu Street, Cluj-Napoca, Cluj county, Company Registration Number J12/4773/2008, tax code 24816864, hereinafter the Quadro Gallery or the Gallery, gives notice that it will be holding auctions of art works on behalf of their owners on dates and on the virtual platform a link to which will be posted on the Gallery`s webpage www.galeriaquadro.ro. Events will also be announced by other means.
2. Any bidder, by registering on the website www.galeriaquadro.ro and participating at the electronic bidding consents on accepting the auction rules, which is a contractual document between the gallery and the person who registered on the site.
3. The depositors (consignor and artists), by the document that they sign with Quadro Gallery, ensure that the art work that they submit in consignment for sale through auction is their own or have the legal right to sell them.
4. On this occasion, Quadro Gallery publishes a catalogue with the art works available for auction which is also shown on the web page of the Auction House (www.galeriaquadro.ro). The art works can be viewed at the exhibition held at the Gallery. Descriptions and reproductions in the catalogue are only indicative and are a personal opinion of the specialists of Quadro Gallery regarding the art works submitted for auction.
5. Buyers have to be convinced, prior to the auction, about the authenticity and condition of the art works. In this respect, Quadro Gallery provides assistance to those who are interested. Gallery Quadro assumes warranty about the authenticity of the art works towards the contractor (the winning bidder) in terms of this regulation.
6. All items that are sold through electronic auction will be exhibited, in order to be visited and inspected, prior to the auction sale. Buyers will have the chance to verify the condition, content and compliance with the entries in the auction catalogue of the exhibition.
7. Any damage to the exhibits will fall under the applicable laws.

Duration of the auction
1. Duration, program and the location of the objects that will be auctioned will be publicly known in advance, on the Quadro Gallery webpage, in the auction catalogue and through other advertising methods.
2. Quadro Gallery reserves the right to end an online auction earlier or extend it for a period of time determined by the Gallery at any time of the auction.
3. If an online auction is canceled and then restarted, Quadro Gallery reserves the right to decide, depending on the nature of the problems that caused the cancellation, if all offers made ​​until this time are going to be canceled and if the bidding is going to be restarted at the original price, or if previous bidding history is going to be reactivated.
4 . Reasons for extension or cancellation of the bid may include the occurrence of technical difficulties, errors in processing or other errors and delays ocurred as a result of unforeseen technical problems related to the server, hosting-service or internet service provider.
5. For smooth running of the event we recommend that the bidders ensure that they have a working internet connection.
6. The bidding of the first lot will end at the time specified on the website in case that no offer was registered during the last 30 seconds. In case there is an offer during the last 30 seconds the bid will be extended by 1 minute. The bid is extended with one minute until there is no offer în the last 30 seconds. After the closing of one item’s bid 2 minutes remain for the bidding of every next item. În case there is an offer în the last 30 seconds of the 2 minutes, the bidding is also prolonged. The 1 minute extension and the 2 minute delay between items are repeated for all lots and the remaining time is refreshed permanently.

Participants

1. Any natural or legal person may participate at the auction, regardless their citizenship/nationality. There is no participation fee.
2. Can participate at the bid individuals directly interested or their representatives, whom have the obligation to present an accreditation. The accreditations can be handed in until the penultimate day of the bid, 20:00 o’clock.
3. Moreover, it is possible the participation at the bid through an accreditation from Quadro Gallery. In this case, a contract of representation is signed between the buyer and Quadro Gallery. In case that there are several contracts for the same art works, with identical prices, the winner will be the one signed first. The intention to participate at the bid through an accreditation can also be signaled via e-mail, until the last day of the bid, 12:00. The e-mail should contain the name, adress and identity card number of the buyer, the item number, author and title of the item and the maximum price. The e-mail has contractual value.
4. Active participation at the bid is exclusively possible through enlistment on the web page of Quadro Gallery, filling out the obligatory fields. The identification of the bidder is made by his e-mail address by which he signs up on the web page of the Quadro Gallery, through the e-mail address he confirms his registration on the site.
5. The registration on the site doesn’t create any obligation for the private individual or judicial person to participate at the bid, to buy or to pay. But in the case that the listed private individual or judicial person participates at the bid and successfully bids an art work, he irrevocably commits himself to pay the equivalent value of the purchased art works, by the terms and conditions provided by the present regulation.
6. In case of a delay, the Gallery has the right to charge for late payment a fee of 0.1 % of the purchase price for each day of delay and after a period of 15 days, the gallery has the right to unilaterally call off the contract by a simple notice sent to the successful bidder by registered letter with acknowledgment of receipt, where the gallery is entitled for a compensation in the amount of 18% of the purchase price of the art work awarded. Termination of the contract is not prevented if the letter with acknowledgment of receipt is refused, or if it is not taken by the recipient being endorsed by postal services and unclaimed.
7. By registering on the web page of the Gallery, the private individual or judicial person declares that he is aware of this regulation and accepts it unconditionally, a document with contractual value, mandatory in the relation between the registered person and the Gallery.
8. By registering on the web page of the Gallery the private individual or judicial person declares on his own responsibility that the identification data provided via the registration form are accurate and true. Any change to the data is acceptable by the Gallery only if the person registered on the site updates his data. The Gallery has the right to require from any registered person a copy of their identity card or, in the case of a judicial person, the certificate of incorporation.
9. By registering on the web page of the Gallery, the private individual or judicial person declares that he agrees with the acquisition and transmission of personal data to the competent authorities, at their request or according to the law.
10. Ticking the small square of the Accepting Regulation for the online auction before registration is mandatory to be able to bid and signifies unconditional acceptance of the terms and conditions of this auction rules.
11. In case of modificaton of the current regulation, a new acceptance is required to participate on the auction organized by the Gallery.
12. Placing a bid is a commitment to pay in case of a win (bidding the highest amount) and certifies the knowledge and acceptance of this regulation.
13. Failing to pay the price of the purchased art work, under this regulation, entitles the Gallery to exclude the bidder from future auctions organized by the Gallery.

Adjudication

  1. The auction catalogue will include, as a rule, the estimation interval of the object’s value and the starting price in the case of art works.
  2. The adjudication of the position that has been bided is irrevocable to the bidder that placed the last and implicitly the highest bid until the end of the auction, adjudication representing the engagement to pay. The adjudication constitutes a firm, contractual engagement of buying under the conditions and terms of the present Regulation.
  3. During the auction no lot will be sold under the starting price.
  4. The Gallery may unilaterally withdraw from the auction any art work of those exhibited and presented in the auction catalogue for motives connected to the good progress of the auction.
  5. If adjudication does not take place in the case of a lot during the auction, this will be returned to the bailer within the term indicated in the consignation certificate.
  6. If more participants formulate offers for the same lot at the same price (maximum), the first registered offer will have the priority.

The price

  1. The estimation of the starting price will be given and bided in EUROs and the payment will be made in RON according to the rates announced on the Gallery’s site prior to the start of the auction. Quadro Gallery will announce, prior to the start of the auction, the conventional rates (equivalence) EURO-RON applied by the Gallery for the current auction.
  2. To the adjudication value is added the Gallery’s commission of 20%, which includes VAT and other taxes imposed by law. On the purchase price a 0.5 % tax for fine arts (TAP) is applied. The adjudication price and the commission together form the purchase price. Any other tax imposed by law will be announced and applied.
  3. For those buyers whose cumulative acquisitions exceed 30.000 Euros, Quadro Gallery applies a discounted commission of 18%.
  4. During the auction prices increase according to

The last bid (EUR): Increase (EUR):

1-50 2

50 – 100 5

100 – 200 10

200 – 500 20

500 – 1.000 50

1.000 – 2.000 100

2.000 – 5.000 200

5.000 – 10.000 500

10.000 – 20.000 1.000

20.000 – 50.000 2.000

50.000 – 100.000 5.000

Payment

  1. The adjudicate work of art will be paid off within 7 (seven) working days, beginning with the day after the adjudication.

Payment methods

  1. Payment will be made in RON by residents of Romania and Euro or USD by residents of other countries. Payment can be made:

a) cash at the Gallery’s cashier’s desk,

b) with bank card at the POS terminals of the Gallery, as well as

c) through bank transfer to:

Banca Transilvania, sucursala Cluj–Napoca, str. Eroilor nr. 36, in the following accounts:

RO06 BTRL 0130 1202 T035 26XX (RON) or

RO78 BTRL 0130 4202 T035 26XX (EUR).

Property transfer

  1. The buyer becomes the owner of the work of art after the entire purchase price has been paid.
  2. The work of art may be taken over once the invoiced amount has been collected by the Gallery. When the payment is made through bank transfer, the invoice may be picked up either from the place of the auction at the centre of Quadro Gallery or a copy can be transmitted by fax and postal services.

Shipping

  1. Preservation and the integrity of the objects is verified when they are taken over. Subsequent complaints are not accepted. The buyer is obliged to pick up the purchased object from the centre of Quadro Gallery within 7 working days, after the integral payment of the purchase price has been made. The taking over and the transportation of the adjudicated work fall under the responsibility and risks of the successful bidder.
  2. If the objects are picked up late, Quadro Gallery does not assume any material responsibility concerning the object. After 30 days from the accepted pick up deadline the Gallery collects a storage tax of 5% of the purchase price per month. After six months Quadro Gallery is entitled to resell the work. From the realized price the Gallery deducts the storage tax and pays back the rest of the sum to the original buyer.
  3. Exportation of the adjudicated objects will be made by the person in concern only by respecting the laws in force.

Warranty of authenticity

  1. Quadro Gallery guarantees to the successful bidder the authenticity of the purchased works of art at auctions by issuing a Certificate of Authenticity at taking over the adjudicated work of art. The successful bidder may contest the authenticity of the object by handing in the original work of art to the Gallery and based on a written opinion of an expert attested according to the law, generally recognized by the professional community as competent in the work of the artist – whose work constitutes the object of the contestation– and who is generally accepted and has a good reputation.
  2. The Gallery has the right to ask for a counter expertise from an expert that has a similar level of competence and reputation, within three months from the registration of the contestation.
  3. Quadro Gallery is obliged to pay back the purchasing price to the buyer if the inauthenticity of the object is proven.

Confidentiality

  1. Quadro Gallery ensures confidentiality concerning the identity of buyers within legal limits.
  2. Every bidder is responsible for the actions registered on the website under their own account, with the afferent password. The confidentiality of security informations (username and password) is guaranteed on the website and falls under the responsibility of every natural person or legal person registered on the Gallery’s website.
  3. If there are reasons to consider that the username and password of a bidder has been compromised, the bidder will announce the Gallery immediately in order to reset these data. The Gallery may suspend the access of a natural person or a legal person registered on the website if there is the suspicion of the username and the password being compromised.
  4. Not respecting the present Regulation automatically means the revocation of the right to participate in the auction.
  5. Quadro Gallery keeps the right to publish under the title free images and descriptions of the works of art sold in any informational materials, journalistic, literature of specialty or for promotional reasons, and the successful bidder agrees by accepting this regulation that they do not have and will not have any financial claims from the Gallery for the use of the image of the work of art adjudicated in conformity with present article.

Applicable legislation

The sale of works of art falls under the Romanian laws.


    How to bid online


    1. First of all, create an account here, in order to be easily identified when making a bid. Right after creating the account you will receive a confirmation e-mail. Then you will be able to bid simply by logging in.

    2. You can reach the auction – either via direct connection after completing the registration, or by using the website’s menu to select the AUCTIONS section, you will be able to peruse the auction lots. Connected to each image there will be information concerning the works displayed, including the starting price, the interval estimate and the current bid.

    3. The button underneath this informative section allows you to place your bid. Simply click on the bidding button and your bid will be registered.

    Accepting the online auction regulations prior to the placement of the bid is mandatory in order to be allowed to bid. Placing a bid represents a payment commitment in case of purchase.

    4. Just like in a classic auction, the bidding will take place in stages, constantly displaying both the current and the following price. By clicking, you are confirming the following price.

    5. You also have the possibility to make your highest offer. Thus the program will automatically bid in your interest.

    6. Each lot will go to the bidder who has placed the last – and implicitly the highest – bid. The bidder will immediately receive an e-mail confirmation.

    7. The bidding of the first lot will end at the time specified on the website in case that no offer was registered during the last 30 seconds. In case there is an offer during the last 30 seconds the bid will be extended by 1 minute. The bid is extended with one minute until there is no offer în the last 30 seconds. After the closing of one item’s bid 2 minutes remain for the bidding of every next item. În case there is an offer în the last 30 seconds of the 2 minutes, the bidding is also prolonged. The 1 minute extension and the 2 minute delay between items are repeated for all lots and the remaining time is refreshed permanently.

    8. If online bidding is inconvenient for you, either due to limited Internet access or simply because you prefer other methods of bidding, we offer the Quadro Gallery mandate bidding service (either by contacting us at office@galeriaquadro.ro or directly, at our offices). The system will automatically register placed bids, excluding the possibility of two or more identical bids for the same lot. Bidding mandates are to be submitted until the last day of the auction, at 12:00 and will be registered in the system chronologically; for bids with the same value, the one prior submitted takes priority.

    9. Our auction house commissions apply to online auctions.

    10. Quadro Gallery offers unlimited guarantee for the authenticity of purchased works.

    GOOD LUCK!