Conditions of Sale – Buying at FA Auctions SAL

Conditions of Sale

The Conditions of Sale set out the terms on which we offer the

lots listed in the catalogue for sale. By registering to bid and/or by

bidding at auction you agree to these terms.

A- Before the Sale

1. Description of lots: Our description of any lot in the catalogue

and any other statement made by us about any lot, including

about its nature or condition, artist, period, materials, approximate

dimensions or Provenance:: are our opinion and/or those of the

seller and not to be relied upon as a statement of fact. Relining,

stretching and mounting are considered measures of preservation

and not a default. Therefore, they will not be mentioned.

If you are planning to bid on a lot, you should inspect it personally

or through a knowledgeable representative before you make a bid

to make sure you accept the description and its condition.

2. Estimates: Estimates are based on the condition, rarity, quality and

Provenance:: of the lots and on prices recently paid at auction for

similar property. Estimates can change. Neither you, nor anyone else,

may rely on any estimates as a prediction or guarantee of the actual

selling price of a lot or its value for any other purpose. Estimates do

not include the buyer’s premium or any applicable tax.

3. Withdrawal: FA Auctions may, at its option, withdraw any lot at

any time prior to or during the sale of the lot.

B- Registering to Bid

1. You must register at least 24 hours before an auction to give us

enough time to process and approve your registration. We may, at

our option, decline to permit you to register as a bidder.

At our discretion, you might be asked for a photo identification

and references.

2. Bidding on behalf of another person: if you are bidding on

behalf of another person, that person will need to complete

the registration before you can bid, and supply a signed letter

authorising you to bid for him/her.

3. Phone bids: your request for this service must be made no

later than 24 hours prior to the auction. We will accept bids by

telephone for lots only if our staff are available to take bids. You

agree that your telephone bid is governed by these conditions of

sale.

4. Absentee bid: you can find a Written Bid Form at the back of

our catalogue or by asking us. We must receive your completed

Written Bid Form at least 24 hours before the auction.

Alternatively, you can leave an absentee bid on the online platform.

The auctioneer will take reasonable steps to carry out written

bids at the lowest possible price, taking into account the reserve. If

we receive written bids on a lot for identical amounts, and at the

auction these are the highest bids on the lot, we will sell the lot to

the bidder whose written bid we received first.

C- At the sale

1. Who can enter the auction: We may, at our option, refuse

admission to our premises or decline to permit participation in

any auction or to reject any bid on our online platform.

2. Reserve: Unless otherwise indicated, all lots are subject to a

reserve. The reserve cannot be more than the lot’s low estimate

3. Auctioneer’s discretion: The auctioneers can at his sole option:

a. Refuse any bid;

b. Move the bidding backward or forward in any way he or she

may decide, or change the order of the lots;

c. Withdraw any lot;

d. Divide any lot or combine any two or more lots;

e. Reopen or continue the bidding even after the hammer has

fallen; and

f. in the case of error or dispute and whether during or after

the auction, to continue the bidding, determine the successful

bidder, cancel the sale of the lot, or reoffer and resell any lot.

If any dispute relating to bidding arises during or after the

auction, the auctioneer’s decision in exercise of this option

is final

4. Bidding: The auctioneers accepts bids from:

a. Online bidders;

b. Telephone bidders;

c. Written bids left by us by a bidder before the auction

5. Currency: the auction will be exclusively conducted in US

Dollars

6. Bidding on behalf of the seller: The auctioneer may, at his or

her sole option, bid on behalf of the seller up to but not including

the amount of the reserve either by making consecutive bids or

by making bids in response to other bidders. The auctioneer will

not identify these as bids made on behalf of the seller and will not

make any bid on behalf of the seller at or above the reserve.

7. Bid increments: Bidding generally starts below the low estimate

and increases in steps (bid increments). The auctioneer will decide

at his or her sole option where the bidding should start and the

bid increments

8. Successful bids: Unless the auctioneer decides to use his or her

discretion as set out in paragraph C3 above, when the auctioneer’s

hammer strikes or the time expires, we have accepted the last

bid. This means a contract for sale has been formed between the

seller and the successful bidder. We will issue an invoice only to the

registered bidder who made the successful bid.

D-The Buyer’s Premium and Taxes

1. The buyer’s premium: In addition to the hammer price, the

successful bidder agrees to pay us a buyer’s premium on the

hammer price of each lot sold. On all lots we charge 18% of the

hammer price

2. Taxes: The successful bidder is responsible for any applicable tax

including any VAT or sales tax or equivalent wherever such taxes

may arise on the hammer price and the buyer’s premium. It is the

buyer’s responsibility to ascertain and pay all taxes due.

3. Total bill: For the avoidance of doubts, the total invoice will

comprise of the hammer price + 19.98%

E-Warranties

1. Seller’s Warranties: For each lot, the seller gives a warranty that

the seller:

a. is the owner of the lot or a joint owner of the lot acting

with the permission of the other co-owners or, if the seller

is not the owner or a joint owner of the lot, has the written

permission of the owner to sell the lot, or the right to do so

in law; and

b. has the right to transfer ownership of the lot to the buyer

without any restrictions or claims by anyone else

c. If either of the above warranties are incorrect, the seller shall

not have to pay more than the purchase price paid by you to

us. The seller will not be responsible to you for any reason for

loss of profits or business, expected savings, loss of opportunity

or interest, costs, damages, other damages or expenses.

2. Our Authenticity Warranty: We warrant that the lots in our

sales are authentic. If within 3 years of the date of the auction,

you give notice with reliable proof to us that your lot is not

authentic, we will refund the purchase price paid by you. At our

option, we may require you to provide the written opinions of two

recognized experts in the field of the lot mutually agreed by you

and us in advance. Your only right under this authenticity warranty

is to cancel the sale and receive a refund of the purchase price

paid by you to us. We will not, in any circumstances, be required to

pay you more than the purchase price nor will we be liable for any

loss of profits or business, loss of opportunity or value, expected

savings or interest, costs, damages, other damages or expenses.

F- Payment

1. How to pay: Immediately following the auction, you must pay

the purchase price being:

a. the hammer price; and

b. the buyer’s premium; and

c. any sales or service tax or VAT.

Payment is due no later than by the end of the second calendar

day following the date of the auction. We will only accept payment

from the registered bidder.

Payment is exclusively in US Dollars, either by cheque, bank

transfer or cash.

2. Transferring ownership to you: You will not own the lot and

ownership of the lot will not pass to you until we have received

full and clear payment of the purchase price.

3. What happens if you do not pay: If you fail to pay us the

purchase price in full by the due date, we will be entitled to do

one or more of the following:

a. To charge a fee of 5% of the purchase price;

b. Ask you to pay in cash US Dollars, at the auction date rate;

c. We can cancel the sale of the lot. If we do this, we may sell

the lot again, publicly or privately on such terms we shall think

necessary or appropriate, in which case you must pay us

any shortfall between the purchase price and the proceeds

from the resale. You must also pay all costs, expenses, losses,

damages and legal fees we have to pay or may suffer and any

shortfall in the seller’s commission on the resale;

d. we can hold you legally responsible for the purchase price

and may begin legal proceedings to recover it together with

other losses, interest, legal fees and costs as far as we are

allowed by law.

G- Collection and Storage

You must collect purchased lots within two days from the auction.

Removal of purchases will be at the buyer’s expense.

If you do not collect any lot within fifteen days following the auction

we can at our option: charge you storage costs, remove the lot to

another location, sell the lot in any commercially reasonable way

we think appropriate

H- Law and disputes

This agreement, and any non-contractual obligations arising out

of or in connection with this agreement, or any other rights you

may have relating to the purchase of a lot will be governed by

Lebanese law. Beirut courts are the sole competent jurisdictions

to hear any dispute arising or related to the present Conditions

of Sale.