ShippingBUYER’S TERMS AND CONDITIONS
The lots will be awarded to the highest bidder.
The auction preview is open to the public and free to enter. GRECO FINE ART specialists are available to clients to provide information and condition reports during the exhibition or by appointment.
Interested customers are advised to examine the lots before the auction takes place.
Customers must carefully read the general conditions on the terms in which the lots are purchased at auction.
The selling price will be increased by 18.5% for room intermediation fees and the corresponding VAT. The auctioneer will be the judge and arbitrator appointed by GRECO FINE ART for this purpose.
In the event that a lot presents adjudication problems regarding the auction price or identity of the buyer, the auctioneer will decide the adjudication or may auction it again in the same session.
Price increments during the auction:
| Value lots auctioned | Increments |
| From €1 to €100 | €10 |
| From €100 to €500 | €25 |
| From €500 to €1,000 | €50 |
| From €1,000 to €2,000 | €100 |
| From €2,000 to €5,000 | €250 |
| From €5,000 to €10,000 | €500 |
| From €10,000 to €20,000 | €1.000 |
| From €20,000 to €50,000 | €2,500 |
| From €50,000 to €100,000 | €5,000 |
| From €100,000 to €200,000 | €10,000 |
| From €200,000 to €500,000 | €25,000 |
In all cases, and in accordance with its professional judgment and experience, the Auction House reserves the right to modify the bidding system in specific circumstances.
The Spanish State retains the statutory rights of pre-emption (tanteo) and redemption (retracto) over the lots offered for sale and may exercise the right of pre-emption during the auction itself, or the right of redemption within the time frame established by law.
GRECO SUBASTAS will accept written bids, which must be submitted on the official forms provided by the Auction House no later than 2:00 p.m. on the day of the auction. By submitting such bids, the Auction House shall act on behalf of the bidder up to the maximum amount indicated, awarding the lots at the lowest price possible. In the event that two written bids are received for the same amount, priority shall be given to the bid submitted earlier. Written bids shall have priority over bids placed in the auction room.
Telephone bids may also be placed, provided that they are likewise formalized on the forms provided by the Auction House. Telephone bidding conversations may be recorded. A request to bid by telephone implies the bidder’s obligation to place at least one written bid.
The Auction House accepts no responsibility for the failure to establish or maintain telephone communication. Should such failure occur, the Auction House shall award the lot to the bidder at the starting price.
GRECO SUBASTAS reserves the right to refuse bids from clients whose financial solvency has not been duly verified, and also reserves the right not to award the lots.
All measurements provided are approximate, and GRECO SUBASTAS shall not be held liable for typographical errors.
Catalogue descriptions include only substantial alterations or modifications. The absence of references concerning the condition of a lot does not imply that it is free from defects or restorations. Please contact the Auction House for a condition report on any specific lot.
All catalogue descriptions represent the professional opinion and judgment of GRECO SUBASTAS specialists and do not constitute any warranty, guarantee, or certification of authenticity or condition. Prospective purchasers are strongly advised to inspect each lot personally and/or to consult an expert prior to bidding.
Lots purchased will be delivered in the condition in which they were observed during the exhibition. No claims regarding restorations, defects, damage, or breakage—whether or not stated in the catalogue—will be accepted.
Payment and collection of lots shall be made within a maximum period of seven days from the auction date, in order to ensure timely settlement with the consignor.
Clients are requested to contact GRECO SUBASTAS as soon as possible after the auction to ascertain the result of their bids, thereby avoiding unnecessary storage charges.
Once the seven-day period has elapsed without the buyer having collected the acquired lot(s), storage and custody fees of €6 per lot per day shall be applied. GRECO SUBASTAS shall not be liable for any deterioration of items occurring after this period.
All transportation services requested for the shipment of purchased lots shall be at the buyer’s expense. Under no circumstances shall GRECO SUBASTAS be held responsible for any damage incurred during transport. Buyers are strongly advised to obtain insurance offered by transport companies.
No lot shall be released to the purchaser until full payment of the invoice has been received.
Accepted methods of payment are: Cash up to €1,000 in accordance with current legislation, Bank Cheque, Credit Card, or Bank Transfer to the following Banco de Sabadell account:
ES75 0081 7125 9100 0181 0687 — SWIFT: BSABESBB
Buyers are reminded that lots must be collected within seven days. After this period, a storage fee of €2 per lot per day will be applied.
For assistance regarding transport arrangements, please contact the Administration Department.
If one month has elapsed from the auction date without the buyer having paid for and collected the awarded lot(s), GRECO SUBASTAS may consider the sale terminated, without prejudice to any legal actions to which it may be entitled and without the buyer having any right to claim or compensation.