A RARE KOREAN MILITARY SWORD ( HWANDO), JOSEON DYNASTY

Terms & Conditions

Important Information for Buyers

Definition “Auctioneers” Olympia Auctions Ltd. 

All lots are offered subject to the Conditions of Business as below, and printed in the back of the auction catalogue.

Unless otherwise stated all lots are subject to a reserve set at the low estimate or below. Estimates are published as a guide only and are subject to review. The actual Hammer Price of a lot may well be higher or lower than the range of figures given and there are no fixed “starting prices”.

The Auctioneers will be pleased to execute bids on behalf of those clients unable to attend the sale in person, subject to our Conditions of Business. All bids must be submitted in writing in good time and lots will always be purchased as cheaply as possible (depending on any other bids received, reserves and competition). This service is offered free of charge.

A Buyer’s Premium of 25% is applicable to all lots. The Buyer’s Premium is subject to VAT at the standard rate (currently 20%). Unless otherwise indicated lots are offered for sale under the auctioneer’s margin scheme and VAT on the Buyer’s Premium is payable by all Buyers.

Olympia auctions are pleased to offer free online bidding directly through their website at www.OlympiaAuctions.com. Online bidding platforms with an additional surcharge are also available, please see the relevant platforms for further details.

The Auctioneers may supply quotations for shipping of purchases, including transit insurance and VAT refund administration fees, and where possible will endeavour to assist in the application for any export licenses which may be required. Buyers are reminded that it is their responsibility to comply with UK export regulations and with any local import requirements. Olympia Auctions are not responsible for delays in delivery which might be caused by shippers or local customs.

Payment

Payment is due in sterling at the conclusion of the sale and before purchases can be released. Please note that we require seven days to clear sterling cheques unless special arrangements have been made in advance of the sale. The Auctioneers are pleased to accept UK debit cards; we can no longer take payment from credit cards and international debit cards. Cash and UK registered debit card payments above £6,000 and "card holder not present" payments above £2,000 cannot be accepted.

Electronic transfers may be sent directly to our Bank:

Olympia Auctions Ltd 

HSBC Bank

38 High Street

Dartford

Kent

DA1 1DG

United Kingdom

IBAN Number: GB39HBUK40190422033119

BIC: HBUKGB4128K

Sort Code: 40-19-04

Account Number: 22033119

Account Name: Olympia Auctions Ltd

VAT Registration Number: 144181627

Collection and Storage

On receipt of cleared funds, lots can be collected from the premises at 25 Blythe Road, London, W14 0PD. The Buyer or Buyer’s agent must bring photographic ID for collection. We require written confirmation from the Buyer if collection is made by a third party. Please note that collection may be made during working hours only, usually Monday to Friday 9.30 to 17.00. All lots should be cleared within 10 working days of the auction date, after which they will be transferred to a third party for storage. A transfer fee of £25 per lot plus all incurred transfer and storage costs due to the third party will be payable prior to release.

Symbols

‘□’ For items with No Reserve

VAT

‘‡’  ‘†’ Lots marked with the symbol ‘‡’ have been imported from outside the UK, to be sold at auction under Temporary Admission Rules. If purchased by a UK buyer, the Buyer will become the importer and must pay VAT at the rate of 5% on the Hammer Price and 20% on the Buyer’s Premium.  Lots marked with the symbol ‘†’ are subject to normal VAT rules and the standard VAT will be charged on both the Hammer Price and Buyer’s Premium. Buyers will normally be eligible to obtain a refund in respect of VAT, upon satisfactory documentary evidence of exportation. Further information on this matter is available on request.

‘Ω’ For items under 100 years old: Import VAT of 20% payable on whole Hammer Price, less premium (a further 20% is payable on the premium.)

Lots, such as books, are zero-rated for VAT in the United Kingdom. The Auctioneers will not charge VAT on either the Hammer Price or Buyer’s Premium of these lots.

Premium Lots

‘ø’ Lots marked with the symbol ‘ø’ are “Premium Lots” you must complete the required Premium Lot preregistration application and deliver to the Auctioneers such necessary financial references, guarantees, deposits and/or such other security as the Auctioneers may in its absolute discretion require, as security for your bid. The Auctioneers decision whether to accept any pre-registration application shall be final. We recommend you contact the Auctioneers at least 3 working days prior to the relevant sale in order to process the pre-registration, and please bear in mind that we are unable to obtain financial references over weekends or public holidays. Online bidding services are not available for premium lots.

Ivory and Restricted Materials (CITES)

‘~’ Lots marked with the symbol ~ have been identified at the time of cataloguing as containing organic material which may be subject to restrictions regarding import or export. As the Auctioneers of these articles, the Auctioneers undertakes to comply fully with CITES and DEFRA regulation. Buyers are advised to inform themselves of all such regulations and should expect the exportation of items to take some time to arrange. The information is made available for the convenience of the Bidder and the absence of the symbol is not a warranty that there are no restrictions regarding import or export of the Lot. The Auctioneers accepts no liability for any lots which may be subject to CITES but have not be identified as such.

Shipping, Import and Export

Export and Permits: it is the Buyer's sole responsibility to identify and obtain any necessary export, import, endangered species or other permit for any lot. The Auctioneers makes no representations or warranties as to whether any lot is or is not subject to export or import restrictions or embargoes.

Please note that it is not possible to post or ship ivory of any kind (including marine ivory) to the United States of America.

Artist Resale Right

'•' For lots marked with the symbol '•' that are sold for a Hammer Price of  €1,000 or greater (converted into GBP using the European Central Bank Reference rate prevailing on the Auction End date) an additional premium will be payable by the Buyer to cover the payment of royalties under the Artist Resale Right Regulations 2006. The additional premium will be a percentage of the amount of the Hammer Price calculated in accordance with the table below, and shall not exceed the equivalent of €12,500. The Artist Resale Right applies to paintings sold for €1,000 or greater if they are sold 3 years or more after their original sale by the artist. Paintings sold for €10,000 or greater are liable for Artist Resale Right regardless of when the initial sale took place. 

Hammer Price Percentage Amount

From  €0 to €50,000 4%

From  €50,000.01 to €200,000 3%

From  €200,000.01 to €350,000 1%

From  €350,000.01 to €500,000 0.5%

Exceeding  €500,000 0.25%

Cataloguing Practice

PLEASE NOTE THAT ALL MEASUREMENTS ARE APPROXIMATE AND THAT ILLUSTRATIONS ARE NOT TO SCALE

Condition is not normally recorded and all lots are sold as viewed. Condition reports can be requested prior to sale. Whilst the Auctioneers are pleased to provide a general report of condition, the Auctioneers are not professional conservators or restorers and any statement made are merely subjective, qualified opinion. Prospective Buyers should satisfy themselves in person wherever possible as to the condition of a lot, or ask an agent to inspect it for them.

Thomas Del Mar Ltd

All questions and comments relating to the operation of sales conducted by Thomas Del Mar Ltd or to their contents should be addressed to Thomas Del Mar Ltd and not to Sotheby’s.

Ceramics

Obvious faults may be recorded in italics at the end of a description for ceramics.

Clocks and Watches

All Lots are sold ‘as is’, and the absence of any reference to the condition of a clock or watch does not imply that the Lot is in good condition and without defects, repairs or restorations. Most clocks and watches have been repaired in the course of their normal lifetime and may now incorporate parts not original to them. Furthermore, the Auctioneers makes no representation or warranty that any clock or watch is in working order. As clocks and watches often contain fine and complex mechanisms, the Bidder should be aware that a general service, change of battery or further repair work, for which the Buyer is solely responsible, may be necessary. The Bidder should be aware that the importation of watches such as Rolex, Frank Muller and Corum into the United States is highly restricted. These watches may not be shipped to the USA and can only be imported personally.

Display Accessories

Please note that armour stands and many of the display mounts used in the catalogue(s) and the sale exhibition(s) may be made available to the successful Buyer of the relevant lot(s). Please contact us for prices and further details.

Firearms

Please note that all bore sizes are approximate.

Jewellery

It is common practice for many gemstones to be treated by a variety of methods to enhance their appearance and the international jewellery trade has generally accepted these methods. Although heat enhancement of colour is usually permanent, in some cases this could affect the durability of a gemstone. Oiled gemstones may need re-oiling after a certain period. If no gemmological report is published in the catalogue, prospective Buyers should be aware that the gemstones or pearls could have been enhanced by some method.

Photographs (in addition to explanations of categorising terms in relation to works Attributed to….. artists as stated in our Cataloguing Practice).

‘The date given is that of the image (negative). Where no further date is given, this indicates that the photographic print is vintage (the term ‘vintage’ may also be included in the Lot description). A vintage photograph is one which was made within approximately 5-10 years of the negative. Where a second, later date appears, this refers to the date of printing. Where the exact printing date is not known, but understood to be printed later, ‘printed later’ will appear in the Lot description.

Unless otherwise specified, dimensions given are those of the piece of paper on which the image is printed, including any margins. Some photographs may appear in the Catalogue without margins illustrated.

All photographs are sold unframed unless stated in the Lot description.

Pictures

A work catalogued with the name(s) or recognised designation of an artist, without any qualification, is, in our opinion, a work by the artist. In other cases, the following expressions with the following meanings are used: 

“Attributed to……” In our opinion probably a work by the artist in whole or in part.

“Studio of….” “Workshop of….” In our opinion a work executed in the studio or workshop of the artist, possibly under his supervision.

“Circle of….” In our opinion a work of the period of the artist and showing his influence.

“Follower of…” In our opinion a work executed in the artist’s style but not necessarily by a pupil.

“Manner of….” In our opinion a work executed in the artist’s style but of a later date.

“After….” In our opinion a copy (of any date) of a work of the artist.

“Signed….”, “Dated….”, “Inscribed….” In our opinion the work has been signed/dated/inscribed by the artist. The addition of a question mark (?) adds an element of doubt.

“Bears signature…”, “Bears date….”, “Bears inscription….” In our opinion the signature/date/inscription/stamp is by a hand other than that of the artist.

Silver, Gold and Precious Metals

Weights may only be accurate to within 5 grams. Weights shown as ‘(*oz)’ are in Troy Ounces and usually rounded down to the full ounce.

Authenticity Guarantee

If the Auctioneers sell an item of Property which is later shown to be a “Counterfeit”, subject to the terms below the Auctioneers will rescind the sale and refund the Buyer the total amount paid by the Buyer to the Auctioneers for that Property, up to a maximum of the Purchase Price.

The Guarantee lasts for one (1) year after the date of the relevant auction, is for the benefit of the Buyer only and is non-transferable.

“Counterfeit” means an item of Property that in the Auctioneers reasonable opinion is an imitation created with the intent to deceive over the authorship, origin, date, age, period, culture or source, where the correct description of such matters is not included in the catalogue description for the Property.

Property shall not be considered Counterfeit solely because of any damage and/or restoration and/or modification work (including, but not limited to, recolouring, tooling or repatinating).

Please note that this Guarantee does not apply if either:-

(i) the catalogue description was in accordance with the generally accepted opinions of scholars and experts at the date of the sale, or the catalogue description indicated that there was a conflict of such opinions; or

(ii) the only method of establishing at the date of the sale that the item was a Counterfeit would have been by means of processes not then generally available or accepted, unreasonably expensive or impractical; or likely to have caused damage to or loss in value to the Property (in the Auctioneers reasonable opinion); or

(iii) there has been no material loss in value of the Property from its value had it accorded with its catalogue description.

To claim under this Guarantee, the Buyer must:-

(i) notify the Auctioneers in writing within one (1) month of receiving any information that causes the Buyer to question the authenticity or attribution of the Property, specifying the lot number, date of the auction at which it was purchased and the reasons why it is believed to be Counterfeit; and

(ii) return the Property to the Auctioneers in the same condition as at the date of sale and be able to transfer good title in the Property, free from any third party claims arising after the date of the sale.

The Auctioneers has discretion to waive any of the above requirements.  The Auctioneers may require the Buyer to obtain at the Buyer’s cost the reports of two independent and recognised experts in the relevant field and that are acceptable to the Auctioneers. The Auctioneers shall not be bound by any reports produced by the Buyer, and reserves the right to seek additional expert advice at its own expense.  In the event the Auctioneers decides to rescind the sale under this Guarantee, it may refund to the Buyer the reasonable costs of up to two mutually approved independent expert reports, provided always that the costs of such reports have been approved in advance and in writing by the Auctioneers.

CONDITIONS OF BUSINESS FOR BUYERS

The following Conditions of Business are applicable to the Auctioneers (Olympia Auctions ). 

All lots are offered subject to the Conditions of Business reproduced on the relevant Auctioneers website, stated below, and printed in the back of the auction catalogue.

Conditions of Business for Buyers

1. Introduction

(a) The contractual relationship of the Auctioneers and Sellers with prospective Buyers is governed by:-

(i) these Conditions of Business for Buyers;

(ii) the Conditions of Business for Sellers displayed in the saleroom and available from the Auctioneers;

(iii) The Auctioneers Authenticity Guarantee;

(iv) any additional notices and terms printed in the sale catalogue, in each case as amended by any Saleroom Notice or Auctioneers Announcement.

(b) As Auctioneers, the Ltd Company hosting the auction acts as agent for the Seller. Occasionally, the Auctioneers may own or have a financial interest in a lot.

2. Definitions

“Bidder”  is any person making, attempting or considering making a bid, including Buyers;

“Buyer”  is the person who makes the highest bid or offer accepted by the auctioneer, including a Buyer’s principal when bidding as agent;

“Seller” is the person offering a lot for sale, including their agent, or executors;

“Auctioneers” Olympia Auctions. 

“Buyer’s Expenses” are any costs or expenses due to the Auctioneers from the Buyer;

“Buyer’s Premium” is the commission payable by the Buyer on the Hammer Price at the rates set out in the Guide for Prospective Buyers;

“Hammer Price” is the highest bid for the Property accepted by the Auctioneers at the auction or the post auction sale price;

“Purchase Price” is the Hammer Price plus applicable Buyer’s Premium and Buyer’s Expenses;

“Reserve Price” (where applicable) is the minimum Hammer Price at which the Seller has agreed to sell a lot.

The Buyer’s Premium, Buyer’s Expenses and Hammer Price are subject to VAT, where applicable.

3. Examination of Lots

(a) The Auctioneers knowledge of lots is partly dependent on information provided by the Seller and the Auctioneers are unable to exercise exhaustive due diligence on each lot. Each lot is available for examination before sale. Bidders are responsible for carrying out examinations and research before sale to satisfy themselves over the condition of lots and accuracy of descriptions.

(b) All oral and/or written information provided to Bidders relating to lots, including descriptions in the catalogue, condition reports or elsewhere are statements of the Auctioneers opinion and not representations of fact. Estimates may not be relied on as a prediction of the selling price or value of the lot and may be revised from time to time at the Auctioneers absolute discretion.

4. Exclusions and limitations of liability to Buyers

(a) The Auctioneers shall refund the Purchase Price to

the Buyer in circumstances where it deems that the lot is a Counterfeit, subject to the terms of the Auctioneers Authenticity Guarantee.

(b) Subject to Condition 4(a), neither the Auctioneers nor the Seller:-

(i) is liable for any errors or omissions in any oral or written information provided to Bidders by the Auctioneers, whether negligent or otherwise;

(ii) gives any guarantee or warranty to Bidders and any implied warranties and conditions are excluded (save in so far as such obligations cannot be excluded by English law), other than the express warranties given by the Seller to the Buyer (for which the Seller is solely responsible) under the Conditions of Business for Sellers;

(iii) accepts responsibility to Bidders for acts or omissions (whether negligent or otherwise) by the Auctioneers in connection with the conduct of auctions or for any matter relating to the sale of any lot.

(c) Without prejudice to Condition 4(b), any claim against the Auctioneers and/or the Seller by a Bidder is limited to the Purchase Price for the relevant lot. Neither the Auctioneers nor the Seller shall be liable for any indirect or consequential losses.

(d) Nothing in Condition 4 shall exclude or limit the liability of the Auctioneers or the Seller for death or personal injury caused by the negligent acts or omissions of the Auctioneers or the Seller.

5. Bidding at Auction

(a) The Auctioneers has absolute discretion to refuse admission to the auction. Before sale, Bidders must complete a Registration Form and supply such information and references as the Auctioneers requires. Bidders are personally liable for their bid and are jointly and severally liable with their principal, if bidding as agent (in which case the Auctioneers prior and express consent must be obtained).

(b) The Auctioneers advises Bidders to attend the auction, but the Auctioneers will endeavour to execute absentee written bids provided that they are, in the Auctioneers opinion, received in sufficient time and in legible form.

(c) When available, written and telephone bidding is offered as a free service at the Bidder’s risk and subject to the Auctioneers other commitments; the Auctioneers is therefore not liable for failure to execute such bids. Telephone bidding may be recorded.

(d) The Auctioneers hold timed online only auctions, our online bidding facility is free of charge at bid.olympiaauctions.com. Commission bidding, telephone bidding and bidding in the saleroom is not available for timed online only auctions. The following terms are applicable only to sales conducted online only and are to be used in addition to the conditions of sale.

Right to Cancel

(i) If you are a consumer resident in the European Union you have the right to cancel the contract for the purchase of a lot within 14 calendar days without giving any reason.

(ii) The cancellation period will expire after 14 calendar days from the day on which you acquire (or a party nominated by you and is not the shipper) physical possession of the lot.

(iii) To exercise the right to cancel, you must inform us of your decision to cancel this contract by a clear written statement (e.g. a letter sent by post, fax or email), or you may use the cancellation form which can be found on our website or by contacting a member of staff. The communication must be received within 14 calendar days from the day on which you acquire the lot.

(iv) If you cancel the contract, we will reimburse all payments received from you, the cost of the initial delivery or collection is not returnable. In addition the cost of returning the item if you choose to cancel the contract is payable by you.

(v) We may make a deduction from the reimbursement for loss in value of any goods supplied, if the loss is the result of damaged caused by unnecessary handling whilst in your possession. We will make the reimbursement without undue delay, and not later than 14 calendar days after the day we receive back from you any goods supplied, or (if earlier) 14 calendar days after the day you provide evidence that you have returned the goods.

(vi) We will make the reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise; in any event, you will not incur any fees as a result of the reimbursement. We may withhold reimbursement until we have received the goods back or you have supplied evidence of having sent back the goods, whichever is earliest.

Liability

The Auctioneers nor the seller will be responsible to you for errors during or after the online only timed auction or failures to execute bids placed on the internet or on your mobile device, including, without limitation, errors or failures caused by:

(i) any loss of connection to the auction being conducted online;

(ii) a breakdown or problems with the online bidding software or the website service provider; and/or

(iii) a breakdown or problems with any internet connection, computer, mobile device or system.

 Auction Extension

Each lot has an individual auction end time as stated on the website, with lots in an auction generally ending two minutes apart. Any bid placed within the last 2 minutes of a lot's auction end time will extend the lot's period of bidding by 2 extra minutes to allow time for counter bids. The lot preceding must sell before the next lot can be sold.

6. Import, Export and Copyright Restrictions

(a) The Auctioneers and the Seller make no representations or warranties as to whether any lot is subject to import, export or copyright restrictions. It is the Buyer's sole responsibility to obtain any copyright clearance or any necessary import, export or other licence required by law, including licences required under the Convention on the International Trade in Endangered Species (CITES).

(b) Ivory and Restricted Materials (CITES)

‘~’ Lots marked with the symbol ~ have been identified at the time of cataloguing as containing organic material which may be subject to restrictions regarding import or export. As the Auctioneers of these articles, the Auctioneers undertakes to comply fully with CITES and DEFRA regulation. Buyers are advised to inform themselves of all such regulations and should expect the exportation of items to take some time to arrange. The information is made available for the convenience of Bidders and the absence of the symbol is not a warranty that there are no restrictions regarding import or export of the Lot. The Auctioneers accepts no liability for any lots which may be subject to CITES but have not be identified as such.

7. Conduct of the Auction

(a) The auctioneer has discretion to refuse bids, withdraw or re-offer lots for sale (including after the fall of the hammer) if (s)he believes that there may be an error or dispute, and may also take such other action as (s)he reasonably deems necessary.

(b) The auctioneer will commence and advance the bidding in such increments as (s)he considers appropriate and is entitled to place bids on the Seller’s behalf up to the Reserve Price for the lot, where applicable.

(c) Subject to Condition 7(a), the contract between the Buyer and the Seller is concluded on the striking of the auctioneer's hammer.

(d) Any post-auction sale of lots shall incorporate these Conditions of Business.

8. Payment and Collection

(a) Unless otherwise agreed in advance, payment of the Purchase Price is due in pounds sterling immediately after the auction (the "Payment Date").

(b) Title in a lot will not pass to the Buyer until the Auctioneers has received the Purchase Price in cleared funds. The Auctioneers will generally not release a lot to a Buyer before payment. Earlier release shall not affect passing of title or the Buyer's obligation to pay the Purchase Price, as above.

(c) The refusal of any licence or permit required by law, as outlined in Condition 6, shall not affect the Buyer’s obligation to pay for the lot, as per Condition 8(a).

(d) The Buyer must arrange collection of lots within 10 working days of the auction.  Purchased lots are at the Buyer's risk from the earlier of (i) collection or (ii) 10 working days after the auction.  Until risk passes, the Auctioneers will compensate the Buyer for any loss or damage to the lot up to a maximum of the Purchase Price actually paid by the Buyer. The Auctioneers assumption of risk is subject to the exclusions detailed in Condition 5(d) of the Conditions of Business for Sellers.

(e) All packing and handling of lots is at the Buyer's risk. The Auctioneers will not be liable for any acts or omissions of third party packers or shippers.

9. Remedies for non-payment

Without prejudice to any rights that the Seller may have, if the Buyer without prior agreement fails to make payment for the lot within 5 working days of the auction, the Auctioneers may in its sole discretion exercise one or more of the following remedies:-

(a) store the lot at its premises or elsewhere at the Buyer’s sole risk and expense;

(b) cancel the sale of the lot;

(c) set off any amounts owed to the Buyer by the Auctioneers against any amounts owed to the Auctioneers by the Buyer for the lot;

(d) reject future bids from the Buyer;

(e) charge interest at 4% per annum above HSBC Bank plc Base Rate from the Payment Date to the date that the Purchase Price is received in cleared funds;

(f) re-sell the lot by auction or privately, with estimates and reserves at the Auctioneers discretion, in which case the Buyer will be liable for any shortfall between the original Purchase Price and the amount achieved on re-sale, including all costs incurred in such re-sale;

(g) Exercise a lien over any Buyer’s Property in the Auctioneers possession, applying the sale proceeds to any amounts owed by the Buyer to the Auctioneers. The Auctioneers shall give the Buyer 14 days' written notice before exercising such lien;

(h) commence legal proceedings to recover the Purchase Price for the lot, plus interest and legal costs;

(i) disclose the Buyer’s details to the Seller to enable the Seller to commence legal proceeding.

10. Failure to collect purchases

(a) If the Buyer pays the Purchase Price but does not collect the lot within 10 working days of the auction, the lot will be stored at the Buyer's expense and risk at the Auctioneers premises or in independent storage

(b) If a lot is paid for but uncollected within 6 months of the auction, following 60 days written notice to the Buyer, the Auctioneers will re-sell the lot by auction or privately, with estimates and reserves at the Auctioneers discretion. The sale proceeds, less all the Auctioneers costs, will be forfeited unless funds or the unsold items collected by the Buyer within 2 years of the original auction.

11. Data Protection

Privacy Policy

(a) What is the legal basis on which the Auctioneers rely to process your data?

On some occasions, the Auctioneers processes your data with your consent (e.g., when you agree that the Auctioneers may place cookies, or if you ask, the Auctioneers, to send you information about upcoming events).

On other occasions, the Auctioneers processes your data when the Auctioneers need to do this to fulfil a contract with you (e.g., for billing purposes) or where the Auctioneers are required to do this by law (e.g., where we have to fulfil anti-money laundering requirements). If it is mandatory for you to provide data for these purposes, the Auctioneers will make this clear at the time and will also explain what will happen if you do not provide the data (e.g., that the Auctioneers will not be able to process a bid at auction).

The Auctioneers also processes your data when it is the Auctioneers legitimate interests to do this and when these interests are not overridden by your data protection rights. For example, the Auctioneers has a legitimate interest in ensuring the security and integrity of the auctions, in learning about the interests and preferences of current and prospective clients, in developing new business opportunities, in maintaining accurate business and provenance records, and in ensuring that the Auctioneers websites and apps operate effectively. When the Auctioneers process personal information to meet the Auctioneers legitimate interests, the Auctioneers put in place robust safeguards to ensure that your privacy is protected and to ensure that the Auctioneers legitimate interests are not overridden by your interests or fundamental rights and freedoms.

(i) The Auctioneers will use information supplied by Bidders or otherwise obtained lawfully by the Auctioneers for the provision of auction related services, client administration, marketing and as otherwise required by law.

(ii) By agreeing to these Conditions of Business, the Bidder agrees to the processing of their personal information and to the disclosure of such information to third parties world-wide for the purposes outlined in Condition 11(a) (i).

(b) Who gets to see your personal data?

The Auctioneers and other auctioneer’s at Olympia Auctions, such as Charles Miller Ltd. The Ltd company that initially receives your data will process it. Your data may also be transferred to and processed by other companies within the group of Auctioneers. The Auctioneers uses EU Commission approved standard contractual clauses to regulate the transfer and processing of data between the Auctioneers.

Outside the Auctioneers

The Auctioneers do not transfer your personal data to organisations who wish to use it for their own marketing promotions or other purposes. The Auctioneers only transfer your personal data to other organisations where it Is necessary to enable the Auctioneers to provide you with the services you have requested (for example: the Auctioneers may transfer your data to the Auctioneers bank, payment card acquirers, shippers, warehouses, insurers, experts who help the Auctioneers authenticate or value property, event venues, caterers, catalogue and direct marketing fulfilment and distribution). Where the Auctioneers do it will be on the basis that these organisations are required to keep the information confidential and secure, and they will only use the information to carry out the instructed services. Some of these organisations may be located outside the EEA. The Auctioneers may also need to retain and disclose certain information about you to appropriate agencies to conduct anti-money laundering and trade sanction checks and to assist with fraud and crime prevention and detection.

When the Auctioneers receive a request for information from a government or law enforcement agency the Auctioneers will disclose information which is the subject matter of that request, if the Auctioneers are satisfied that the government or law enforcement agency has the right to seek disclosure and the correct procedure has been followed. In all other circumstances such information will only be disclosed if the Auctioneers are ordered to do so by a court of law.

(c) How long will the Auctioneers keep your personal data?

The Auctioneers will retain your personal data for as long as is necessary to provide the relevant services, maintain business records to satisfy tax, legal and other regulatory requirements, and protect and defend against potential legal claims.

In the context of our research and records on ownership of art objects to assist with checks on authenticity provenance and title, we will keep this data for as long as the record is relevant to our legitimate business interest and the public interest.

What steps do the Auctioneers take to keep your personal data secure?

The Auctioneers will take all reasonable and appropriate steps to protect the security and integrity of all personal information provided via our website, or by any other means electronic or otherwise.

The Auctioneers use a variety of security technologies and procedures to help protect your personal details from unauthorised physical and electronic access.

As effective as modern security practices are, we cannot guarantee the complete security of personal data held in our systems, nor that information you supply through the internet or any computer related network is entirely safe from unauthorised intrusion, access or manipulation during transmission. Any transmission is at your own risk. We will not be liable for any resulting misuse of your personal data.

(d) Third party websites

The Auctioneers website may contain links to other websites not operated by us, the Auctioneers. The information you provide to us will not be transmitted to other websites, but these other websites may collect personal information about you in accordance with their own privacy notice. We as the Auctioneers cannot accept any responsibility for the privacy practices or content of those websites.

(e) Your data

You have the right to request deletion of your personal data. The Auctioneers will comply with this request, subject to our legitimate interests as noted above.

How can I access the information you hold about me?

You have the right to request a copy of the information we hold about you. If you would like a copy of some or all of your personal information then please write to the Auctioneers or email the Auctioneers.

The Auctioneers have an obligation to ensure that your personal information is accurate and up to date. Please write to the Auctioneers or email the Auctioneers to correct or remove any information that you think is incorrect.

(f) Complaints

If you have any queries or complaints in relation to the Auctioneers processing your personal data please contact the Auctioneers.

12. Miscellaneous

(a) All images of lots, catalogue descriptions and all other materials produced by the Auctioneers are the copyright of the Auctioneers.

(b) These Conditions of Business are not assignable by any Buyer or Seller without the Auctioneers prior written consent, but are binding on Bidders' successors, assigns and representatives. 

(c) The materials listed in Condition 1(a) set out the entire agreement between the parties.

(d) If any part of these Conditions of Business be held unenforceable, the remaining parts shall remain in full force and effect.

(e) These Conditions of Business shall be interpreted in accordance with English Law, under the exclusive jurisdiction of the English Courts, in favour of the Auctioneers.

CONDITIONS OF BUSINESS FOR SELLERS

The Conditions of Business for Sellers govern all aspects of the consignment, report, holding and sale of Property by Auctioneers Olympia Auctions, together with the Auctioneers Authenticity Guarantee and the Conditions of Business for Buyers, as printed in sale catalogues and available from the Auctioneers upon request. The Auctioneers act as agent for Sellers.

For other auctioneer’s at Olympia Auctions, such as Charles Miller Ltd, please see their website for their Conditions of Business.

Conditions of Business for Buyers and/or Sellers may be amended by additional terms printed in the sale catalogue and/or by notices posted up in the saleroom or announced by the auctioneer.

DEFINITIONS

“Seller” is the owner of the Property, their agent, executors or the person in possession of the Property (as appropriate).

“Auctioneers” Olympia Auctions. 

“Seller’s Commission” is the commission the Auctioneers charges Sellers of Property.

“Expenses” are the Auctioneers expenses, fees and charges relating to the Property, including legal expenses, insurance charges, illustration fees, administration fees, customs duties, shipping and packing costs, tests, searches and enquiries.

Unless otherwise agreed at the time of consignment, the Seller will pay for the cost of any photographs of the Goods produced for the auction catalogue. The Auctioneers reserve the right to photograph all Goods. The Auctioneers charges for photography will vary depending on the number of images we take and nature of the Goods, but always subject to minimum charge per auction lot of Goods

“Buyer’s Premium” is the commission the Auctioneers charges Buyers of Property.

“Hammer Price” is the highest bid for the Property accepted by the auctioneer.

“Reserve Price” is the minimum Hammer Price at which the Property may be sold, as agreed between the Seller and the Auctioneers. From time to time, the Auctioneers may agree with the Seller to offer a collection of Property for a Global Reserve Price and/or agree an auctioneer’s discretion to reduce the Reserve Price by 10% or to offer Property without a Reserve Price.

“Net Sale Proceeds” are the proceeds of sale actually received by the Auctioneers, less Seller’s Commission, Buyer’s Premium and Expenses.

The Seller’s Commission, Hammer Price, Buyer’s Premium and all Expenses are subject to VAT, where applicable.

1. SELLER’S WARRANTIES

(a) The Seller warrants to the Auctioneers and the Buyer that:-

(i) the Seller is the owner of the Property or is properly authorised to sell it;

(ii) the Seller shall transfer possession and good title in the Property to the Buyer, free from any third party claims;

(iii) the Seller has provided all relevant information about the ownership, condition, authenticity, attribution, provenance and import/export history of the Property and the Seller has all licences and permits required by law, including those required under the Convention on the International Trade in Endangered Species (CITES);

(iv) there are no copyright or other restrictions on the Auctioneers rights to produce and publish images of the Property.

(b) The Seller will indemnify the Auctioneers, its directors, employees, officers and Buyers of the Property against all losses and damages resulting from a breach of any of these warranties or other Conditions of Business. The Auctioneers may cancel, rescind or postpone sales of Property where it reasonably believes that there has been or may be a breach of these warranties or any other Conditions of Business by the Seller.

2. SALE PREPARATION

(a) The Auctioneers shall have sole discretion as to how Property is described, illustrated and marketed, and the date, venue and conduct of the sale.

(b) All oral or written estimates, appraisals and reports are statements of opinion only, may not be relied upon as a prediction of the sale price and may be revised from time to time by the Auctioneers.

(c) The Auctioneers may, without obligation, consult with third party experts and carry out such other research for the Property as it deems necessary. The Auctioneers may transfer possession of the Property to such third parties and shall not be responsible for the acts and omissions of such third parties.

(d) The Auctioneers shall have the absolute right to produce and publish images of any Property consigned for sale and will retain copyright in any such images it produces.

(e) The Auctioneers will charge a Buyer’s Premium on the sale of the Property at the Auctioneers standard rates. The Auctioneers reserves the right to pay out of its commissions a fee to any third party introducing Sellers or Property to it.

(f) Sellers are prohibited from bidding on their own Property. If a Seller offers the Hammer Price for their Property, Auctioneers may charge the Seller the Seller’s Commission, Buyer’s Premium and Expenses relating to that Property.

3. WITHDRAWAL OF PROPERTY

(a) If the Seller withdraws any Property from sale after their written agreement to sell it, the Auctioneers may charge the Seller 50% of the Seller’s Commission and Buyer’s Premium the Auctioneers would have received had the Property sold at its mid estimate, plus all Expenses (the “Withdrawal Fee”).

(b) The Auctioneers may withdraw any Property from sale without liability for any of the following reasons:- if (i) it reasonably believes that the authenticity or attribution is questionable; (ii) it reasonably believes that the Seller’s Warranties or other Conditions of Business have been breached; (iii) there is a competing ownership claim or lien over the Property; (iv) the Property does not have all licences and permits required by law, including those required under the Convention on the International Trade in Endangered Species (CITES); (v) the condition of the Property has deteriorated since consignment; (vi) the auction has been postponed for any reason.

(c) If the Property is withdrawn for any of reasons 3(b) (ii), or (iii) the Seller shall pay the Withdrawal Fee, as per Condition 3(a). If withdrawn for any other reason, the Property shall be returned to the Seller at the Seller’s expense.

4. EXCLUSION OF LIABILITY

(a) The Auctioneers shall not be liable for any errors or omissions in any written or oral information provided to Sellers or for acts or omissions relating to the conduct of the auction or any other matter relating to the sale of Property, whether negligent or otherwise, subject always to Condition 4(c).  

(b) Without prejudice to Condition 4(a), any claim against the Auctioneers shall be limited to the Net Sale Proceeds for the relevant Property. The Auctioneers shall not in any circumstances be liable for any indirect or consequential losses.

(c) The Auctioneers liability to the Seller in respect of death or personal injury caused by the Auctioneers negligent acts or omissions shall not be excluded or limited.

5. LOSS OR DAMAGE TO PROPERTY

(a) Unless otherwise agreed in writing, the Auctioneers will assume the risk of loss or damage to Property received from the Seller until:-

(i) risk passes to the Buyer; or

(ii) if unsold, 60 days after the sale or when released to the Seller (whichever is earlier); or

(iii) 6 months after receipt of the Property by the Auctioneers, if not consigned for sale.

(b) the Auctioneers shall charge a premium of 1% of:-

(i) the Hammer Price of the Property, if sold;

(ii) the Reserve Price of the Property or as otherwise stated on the Property Receipt, if unsold; or 

(iii) the mid estimate, if not offered for sale (or the Auctioneers reasonable estimate of auction value where there are no pre-sale estimates).

(c) If damage or loss occurs whilst the Property is at the risk of the Auctioneers, the maximum amount of the Auctioneers liability shall be as set out in Condition 5 (b) (i)- (iii), as applicable, less Seller’s Commission and Expenses.

(d)  the Auctioneers will not be liable for any loss or damage caused by:-

(i) normal wear and tear, gradual deterioration or inherent vice or defect;

(ii) errors in processing;

(iii) war or radioactive contamination;

(iv) lot is too fragile or not in a fit state to be reasonably handled or stored.

6. POST AUCTION SALES

If any Property fails to sell at auction, the Auctioneers shall be entitled for a period of 35 days after the auction to sell the Property privately for no less than the Reserve Price (unless otherwise agreed with the Seller) and on the terms of these Conditions of Business.

7. PAYMENT OF NET SALE PROCEEDS

(a) Subject in all cases to prior receipt of cleared funds by the Auctioneers and subject to rescission of the sale under Condition 9, 35 days after the sale date or 5 working days after receipt of cleared funds from the Buyer (whichever is later), the Auctioneers shall send the Seller the Net Sale Proceeds in pounds sterling, less any other amounts owed by the Seller to the Auctioneers.      

(b) the Auctioneers shall not be obliged to check the ability of Buyers to pay for Property and shall have absolute discretion whether to use any of the rights and remedies against defaulting Buyers contained in the Conditions of Business for Buyers.

8. UNSOLD/UNCOLLECTED PROPERTY

(a) the Auctioneers will advise Sellers whether or not their Property has sold. Unsold Property may either:-

(i) be reconsigned for sale; or

(ii) collected by the Seller, in which case a Reduced Commission of 50% of the Seller’s Commission may be payable calculated as if the Property sold for its Reserve Price (where applicable), plus relevant Expenses. 

(b) If the Seller does not reconsign or collect the Property within 60 days of the auction as per Condition 8(a) (i) or (ii) above, the Auctioneers shall be released from any duty of bailment and may in its sole discretion be entitled to:-

(i) transfer the Property to independent storage at the Seller’s expense; or

(ii) re-offer the Property at auction for no less than 50% of the original Reserve Price agreed with the Seller (where applicable), and subject to the Seller’s Commission on the re-sale plus all relevant Expenses.

(c) If the Seller deposits the Property with the Auctioneers for more than 1 year and neither collects nor consigns it for sale, the Auctioneers shall be entitled to sell such Property at the Auctioneers sale or elsewhere, with estimates and reserves at the Auctioneers discretion, after giving the Seller 60 days' written notice sent to the Seller’s last known address.

9. RESCISSION OF SALES

The Auctioneers may rescind the sale where it reasonably believes that the Property is Counterfeit, as defined by the Auctioneers Guarantee of Authenticity, in which case the Auctioneers shall send the Seller a notice of such rescission. The Seller agrees to return to the Auctioneers the Net Sale Proceeds received from the sale of such Property together with any additional Expenses incurred by the Auctioneers. The Auctioneers will return the Property to the Seller upon receipt of the Net Sale Proceeds and Expenses, unless prevented from doing so for reasons beyond the Auctioneers control.

10. DATA PROTECTION

Privacy Policy

(a) What is the legal basis on which the Auctioneers rely to process your data?

On some occasions, the Auctioneers processes your data with your consent (e.g., when you agree that the Auctioneers may place cookies, or if you ask, the Auctioneers, to send you information about upcoming events).

On other occasions, the Auctioneers processes your data when the Auctioneers need to do this to fulfil a contract with you (e.g., for billing purposes) or where the Auctioneers are required to do this by law (e.g., where we have to fulfil anti-money laundering requirements). If it is mandatory for you to provide data for these purposes, the Auctioneers will make this clear at the time and will also explain what will happen if you do not provide the data (e.g., that the Auctioneers will not be able to process a bid at auction).

The Auctioneers also processes your data when it is the Auctioneers legitimate interests to do this and when these interests are not overridden by your data protection rights. For example, the Auctioneers has a legitimate interest in ensuring the security and integrity of the auctions, in learning about the interests and preferences of current and prospective clients, in developing new business opportunities, in maintaining accurate business and provenance records, and in ensuring that the Auctioneers websites and apps operate effectively. When the Auctioneers process personal information to meet the Auctioneers legitimate interests, the Auctioneers put in place robust safeguards to ensure that your privacy is protected and to ensure that the Auctioneers legitimate interests are not overridden by your interests or fundamental rights and freedoms.

(i) the Auctioneers will use information supplied by Sellers or otherwise obtained lawfully by the Auctioneers for the provision of auction related services, client administration, marketing and as otherwise required by law.

(ii) By agreeing to these Conditions of Business, the Seller agrees to the processing of their personal information and to the disclosure of such information to third parties world-wide for the purposes outlined in Condition 10(a) (i).

(b) Who gets to see your personal data?

The Auctioneers and other auctioneer’s at Olympia Auctions, such as Charles Miller Ltd. The Ltd company that initially receives your data will process it. Your data may also be transferred to and processed by other companies within the group of Auctioneers. The Auctioneers uses EU Commission approved standard contractual clauses to regulate the transfer and processing of data between the Auctioneers.

Outside the Auctioneers

The Auctioneers do not transfer your personal data to organisations who wish to use it for their own marketing promotions or other purposes. The Auctioneers only transfer your personal data to other organisations where it Is necessary to enable the Auctioneers to provide you with the services you have requested (for example: the Auctioneers may transfer your data to the Auctioneers bank, payment card acquirers, shippers, warehouses, insurers, experts who help the Auctioneers authenticate or value property, event venues, caterers, catalogue and direct marketing fulfilment and distribution). Where the Auctioneers do it will be on the basis that these organisations are required to keep the information confidential and secure, and they will only use the information to carry out the instructed services. Some of these organisations may be located outside the EEA. The Auctioneers may also need to retain and disclose certain information about you to appropriate agencies to conduct anti-money laundering and trade sanction checks and to assist with fraud and crime prevention and detection.

When the Auctioneers receive a request for information from a government or law enforcement agency the Auctioneers will disclose information which is the subject matter of that request, if the Auctioneers are satisfied that the government or law enforcement agency has the right to seek disclosure and the correct procedure has been followed. In all other circumstances such information will only be disclosed if the Auctioneers are ordered to do so by a court of law.

(c) How long will the Auctioneers keep your personal data?

The Auctioneers will retain your personal data for as long as is necessary to provide the relevant services, maintain business records to satisfy tax, legal and other regulatory requirements, and protect and defend against potential legal claims.

In the context of our research and records on ownership of art objects to assist with checks on authenticity provenance and title, we will keep this data for as long as the record is relevant to our legitimate business interest and the public interest.

What steps do the Auctioneers take to keep your personal data secure?

The Auctioneers will take all reasonable and appropriate steps to protect the security and integrity of all personal information provided via our website, or by any other means electronic or otherwise.

The Auctioneers use a variety of security technologies and procedures to help protect your personal details from unauthorised physical and electronic access.

As effective as modern security practices are, we cannot guarantee the complete security of personal data held in our systems, nor that information you supply through the internet or any computer related network is entirely safe from unauthorised intrusion, access or manipulation during transmission. Any transmission is at your own risk. We will not be liable for any resulting misuse of your personal data.

(d) Third party websites

The Auctioneers website may contain links to other websites not operated by us, the Auctioneers. The information you provide to us will not be transmitted to other websites, but these other websites may collect personal information about you in accordance with their own privacy notice. We as the Auctioneers cannot accept any responsibility for the privacy practices or content of those websites.

(e) Your data

You have the right to request deletion of your personal data. The Auctioneers will comply with this request, subject to our legitimate interests as noted above.

How can I access the information you hold about me?

You have the right to request a copy of the information we hold about you. If you would like a copy of some or all of your personal information then please write to the Auctioneers or email the Auctioneers.

The Auctioneers have an obligation to ensure that your personal information is accurate and up to date. Please write to the Auctioneers or email the Auctioneers to correct or remove any information that you think is incorrect.

(f) Complaints

If you have any queries or complaints in relation to the Auctioneers processing your personal data please contact the Auctioneers. 

11. MISCELLANEOUS

(a) All images of lots, catalogue descriptions and all other materials produced by the auctioneer are the copyright of the Auctioneers.

(b) These Conditions of Business are not assignable by any Buyer or Seller without the Auctioneers prior written consent, but are binding on Bidders' successors, assigns and representatives. 

(c) The materials listed in Condition 1(a) set out the entire agreement between the parties.

(d) If any part of these Conditions of Business be held unenforceable, the remaining parts shall remain in full force and effect.

(e) These Conditions of Business shall be interpreted in accordance with English Law, under the exclusive jurisdiction of the English Courts, in favour of the Auctioneers.

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GIORNO DELL'ASTA: 26 GIUGNO 2024, ALLE ORE 11:00