Polykleitos RENGOS (Greek, 1903 - 1984)

General terms and conditions

BUYER'S PREMIUM

18%

ARTIST'S RESALE RIGHTS

On lots sold up to €50 000 4% is added to the price of the final bid, which is the artist's resale right applicable if the artist is alive or has died in the last 70 years. (For lots sold above €50 000 the Artist's Resale Rights is reduced to 3%)

VAT

Value Added Tax currently at 19% is added to the Buyer’s Premium only and not on the hammer price.

BIDDING

Online Bidding

Cypria Auctions offers an online bidding service through Drouot.com and through Invaluable.com for bidders who are unable to attend the sale.

First Time Buyers

First time buyers (buyers unknown to Cypria K Auctions Ltd) registering to bid may be contacted, and a copy of their photo ID (passport or national identity card) as well as proof of address may be requested.

In Person

You can bid in person by attending the auction where you will be issued with a paddle number to enable you to bid on your chosen lots.

Absentee Bid

If you are unable to attend the auction, then let us bid on your behalf.

You can submit a confidential absentee bid through our website www.cypriaauctions.com from each lot's particular details page of our current auction indicating your maximum bid in euro, excluding the buyer's premium and any applicable taxes. Our staff will then execute the bid on your behalf. Taking into account the reserve price and other bidders, we will always try to secure the item for you at the lowest price within your maximum bidding limit.

You are also able to place your absentee bids for the lots you are interested in through Drouot.

Telephone Bid

If you cannot be present at the auction, then as an alternative to placing an absentee bid you can request to bid by telephone through our website www.cypriaauctions.com

A member of staff will telephone you during the auction and bid live on your behalf according to your instructions.

TERMS & CONDITIONS APPLICABLE TO BUYERS

Participation in Cypria Auctions means the unreserved acceptance of the following: -

1. The auctioneer always acts as the agent of the vendor. He directs the auction and decides on the consecutive bids of each lot. At his discretion, he can refuse higher or lower bids than those proposed by him.

2. The auctioneer reserves the right to refuse entry to or participation by any individual in the auction room, as well as to withdraw any lot from the sale at any time.

3. A buyer is considered the bidder who accepted the highest bid proposed by the auctioneer and to whom the lot was finally sold. Absentee bids are accepted by the auctioneer in writing at least 4 hours before the sale or on the telephone during the sale provided personal details of the bidder have been submitted at least 24 hours before the auction.

4. Every work is sold 'in its present state'. Cypria Auctions is not responsible for possible defects, damages or imperfections of a work or errors or misrepresentations in the description contained in the catalogue. All statements included in the auction catalogue relating to the provenance, dating, authenticity and estimate of a lot are made to the best of its knowledge and do not imply or create ultimate responsibility or liability on the part of Cypria Auctions, its associates, or employees to any third party.

5. A buyer can return a work within one (1) year of its purchase if it can be reasonably proved that it is counterfeit. In such a case the buyer will be fully refunded (Hammer price plus commission but not interest). The sale will be set aside on condition that the buyer has not resold the work; it has been kept in the same condition as at the time of purchase and most importantly there was no mention in the catalogue of disputed authenticity.

6. Every work on sale is considered by Cypria Auctions as the bona fide property of the vendor who gives assurances that it is free of any legal or any other impediment, claim or demand by any third party.

7. The House will also charge the buyer commission of 18% plus VAT on the Hammer Price. VAT (Value Added Tax) currently at 19% is only applicable on the commission but not on the hammer price.

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8. All lots can be collected, once the account has been settled, from the sale room after the sale or the next day or thereafter from the Cypria Auctions premises located at 14 Evrou Street, Strovolos, Nicosia, Cyprus. The buyer should collect all purchased lots within 7 days from the date of the auction and settle the respective invoice in full.

9. In case of refusal or inability on the part of the buyer to settle his/her account and collect the work(s) as stated above, 30 days having elapsed from the day of the auction, Cypria Auctions is entitled a) To initiate legal action demanding the full settlement of the account. b) To dispose of the work(s) to a third party privately or through an auction sale. c) To demand compensation for any financial or other damages suffered as a result of the buyer's refusal to fulfill his/her obligations.

PAYMENT

Within a few days after the sale we will be emailing our invoice for your purchases.

Successful bidders can pay immediately after the sale or thereafter.

Payment is due within 7 days after receiving your invoice from us.

A buyer's premium of 18% plus VAT is added to the hammer price. VAT (currently at 19%) is only applicable to the buyer's premium and not the hammer price.

Payment can be made in any of the following ways.

• Cash

• Bank transfer - We will provide you with our bank account details

• Cheque - Payment by cheque is also possible. Items paid for by cheque can only be collected once the funds have been cleared. Please allow at least 7 days for funds to clear

• Debit or credit card - We accept Visa & Mastercard

PLEASE NOTE that we may not accept payment by cheques or debit / credit cards belonging to third parties.

Payments must be made direct to Cypria K. Auctions Ltd and will not be processed by Drouot.com

COLLECTION & SHIPPING

Collection in person

After the sale, once your account has been settled, all lots may be collected from the Cypria Auctions premises in Nicosia.

The buyer should collect all purchased lots within 7 days from the date of the auction.

Packing and shipping

WE PROVIDE AN IN-HOUSE PACKING & SHIPPING SERVICE AND CAN SHIP WORLDWIDE

We are happy to arrange for packing and shipping of your purchased lots and can provide you with a quote upon request or you can use your own carrier. We are not professional packers or shippers but will do our utmost to pack items in a correct way which will ensure items arrive safely. However, Cypria Auctions will not be held responsible for making a claim in case of damage, loss or late delivery. In the unlikely event where we are not able to pack and ship ourselves, we will advise you of an alternative shipping company.

The most economical and popular method for shipping your lots to you is by using the Cyprus Postal Parcel Service. (Some lots due to size or very high value may not be eligible for this service)

Below are indicative costs including the packing and shipping: -

Parcel weighing up to 10 kgs to Europe: 60 Euro - Worldwide 85 Euro

Parcel weighing above 10 kgs and up to 15 kgs to Europe: 80 Euro - Worldwide 110 Euro

Parcel weighing above 15 kgs and up to 20 kgs to Europe: 95 Euro - Worldwide 140 Euro

Optional insurance is also available at the extra cost of a standard fee of 4 Euro per item + 0.8% of the item's value (The maximum available insured value through the Cyprus Postal Service is 4,000 Euro)

NOTE: Overweight or oversized items may not be eligible for shipping using the Cyprus Post Parcel Service.