Works Evaluations
Gigarte releases free of charge evaluations of artworks with relevant proposal for the sell in auction. A provisional evaluation can be made on the basis of photographic material that can be sent as per follows:
Mandate to sell
The mandate to sell is the contract through which the owner of one or more objects gives the auction house Gigarte the right to sell according to the conditions contained in it. This contract is drawn up in duplicate at the time of the assignment and is valid for a period of 90 days. In case the good, once the assignment has been given to Gigarte and subsequently awarded during the auction, will be sold to third parties by the owner himself and - therefore no longer available - the principal who has acted in violation of the agreement is required to pay Gigarte the share of the award.
Starting Price
The Starting Price for each Lot will be agreed before the auction. The starting price corresponds to the minimum amount which the lot cannot be sold.
Commissions
The commissions due to the auction house are 15% to be calculated on the award price. Gigarte reserves the right to lower or increase the above commission, if it deems appropriate in agreement with the principal.
Shipping Cost
The Packaging and Shipping cost is always in charge to the principal who is entitled to take out insurance.
Resale right
An additional percentage will be applied to the artworks subject to the resale right as follows: 4% for award price between € 3,000.00 and € 50. 000.00; 3% for award price between euro 50,000.01 and euro 200,000.00; 1% for award price between euro 200,000.01 and euro 350,000.00; 0.5% for award price between euro 350,000.01 and euro 500,000.00; 0.25% for award price higher than euro 500,000.00. The total amount of the compensation cannot be in any case higher than euro 12,500.00.
Unsold lots
If requested by the principal, the auction house may place the unsold lots in a subsequent auction on condition that the auction base is lowered.
How to collect
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Payment Methods
The Lots sold can be paid to the lot's owner by bank transfer (other forms of payment will be agreed with Gigarte on a case-by-case basis).
Time of payment
Gigarte will liquidate the lot's owner only upon full payment by the client. The term of payments may vary depending on the time of receipts.
Commissions and charges
The commissions and charges will be deducted directly at the time of payment.