Buying and Selling

Buying

  • Register to bid
  • Bid: a) by leaving a written bid, b) by making a telephopne bid, c) by attending the auction
  • Pay
  • Pick up or shipping your property     

Selling  

  • Evaluation & decision to sell
  • Shipping
  • Selling contract & reserve price
  • Commission & payment

 

Conditions of Sale 

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

  • The auctioneer acts always as the agent of the vendor. He directs the auction and decides on the consecutive biddings of each lot. At his discretion, he can refuse higher or lower bids than those proposed by him
  • 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 or on the telephone during the sale, provided they have submitted their personal details 24 hours before the auction.
  • Every work is sold ‘in its present state’. Cypria Auctions are not responsible for possible defects or damages or imperfections of a work in the way it is described in the catalogue. All statements included in the auction catalogue relating to the provenance, dating, authenticity and estimate of a lot, are to the best of our knowledge and does not imply or create ultimate responsibility for Cypria Auctions to anybody.
  • A buyer can return a work within 3 years of its purchase if it can be reasonably proved that it is a counterfeit. In such a case the buyer is 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.
  • Every work on sale is considered by Cypria Auctions bona fide as the property of the vendor who gives assurances that it is free of any legal or other impediment, claim or demand by a third party.
  • A commission of 15% plus VAT is added on the hammer price. All lots can be collected – once the account has been settled- from the sale room or from the Cypria Auctions premises. Evrou, 14, Strovolos 2003, Nicosia, Cyprus. The buyer should collect all purchased lots within 7 days from the date of the auction and fully settle the relative invoice.
  • In case of refusal or inability of the buyer to settle his/her account and collect the work(s) as stated above, having lapsed 30 days 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 caused as a result of the buyer’s refusal to fulfil his/her obligations.

 

Important Notice

The works sold are offered "in their existing state" with the exception of counterfeits. All interested parties are urged to examine the works personally before the auction. Detailed report for each work can be obtained on request. All works sold can be collected from the saleroom after the sale and the next day and thereafter, from the Cypria Auctions premises, Evrou 14, Strovolos 2003, Nicosia.

 

Sale Agreement

The following terms of auction specify the legal rights and obligations of the seller:

  1. Cypria Antiques and Fine Art Auctions K.V. Ltd (quoted as the House) will sell as the exclusive agent of the consignor the works listed on the attached list. The sale will be executed by auction (unless agreed otherwise) and they are subject to the “Terms of Auction”, which are printed on the last pages of the auction catalogue. The estimates and reserves will be negotiated and agreed with the consignor before auction.
  2. The House will deduct commission from the Hammer Price as follows:

    Hammer Price up to £3,000  |  commission: 15%
    Over £3,000  |  commission: 10%
    Over £50,000  |  commission: by agreement

    The existing rate of VAT will be added to the commission. The House will also charge the buyer commission of 15% plus VAT on the Hammer Price.
  3. The consignor agrees to pay all expenditure relating to:
              
    1. The packing, freight and delivery of the works to the specified place.        
    2. For the return packing, freight of any unsold works, unless they are collected from the Auction House premises by himself, or by an authorised representative.            
    3. With the insurance cost for the transportation (parag. i+ii)            
    4. With any import taxes if the works are imported from a country outside the E.U.            
    5. With VAT on all previous charges
  4. All the works are automatically insured from the moment they are collected by or delivered to Cypria Auctions, unless agreed otherwise. The insurance cover is arranged in accordance with the valuation of the Auction House. This can be reviewed at a later stage but it does not amount to an undertaking by Cypria Auction that the works will definitely be sold. The works will continue to be insured seven days after the auction has taken place. If a work does not sell then after this period has lapsed the responsibility for the work(s) will revert to the consignor.
    5.         
    1. The consignor states that she/he is the sole proprietor of the work(s) and guarantees that they are free from any legal or real encumbrance, claim or demand by a third party.        
    2. The consignor confirms that she/he has complied with any legal or other restrictions relating to the import or export of the works.            
    3. The consignor has informed the House in writing for any interference with the works which came to hers/his knowledge, as well as for any doubts expressed by third parties relating to the proprietary status, the condition or the authenticity of the works. In care of the above i), ii), iii) is incorrect the consignor is entitle to compensate in full for any damage that the House or the Buyer or both may suffer.            
    4. With any import taxes if the works are imported from a country outside the E.U.            
    5. With VAT on all previous charges
            
    6.         
    1. Cypria Auctions will use there knowledge and expertise for:
                
                a)      The listing description and illustration of the works in the auction catalogue.
                b)      The time, the place and the manner to conduct the auction.
                c)      The individuals who will be invited to attend the auction and the manner of acceptability of the bidding.
                d)      Obtaining expert opinion from outside if necessary
                e)      Offering more than one work in each lot or distribution of the works in more than one lot.                    
    2. Any estimate given by the Auction House amounts to an opinion and should not be considered as a statement or a guarantee for the eventual price that will be realised at auction.            
    3. The consignor is not entitled to withdraw any works without the consent of the House. The House nevertheless retains the right to withdrawn any works at any time if:
                    
                    a)      It has doubts concerning the authenticity, ownership, or accuracy of assurances by the consignor (para.5)
                    b)      There is a breach of this agreement
                  c)      The House considers improper to offer for sale the work                        
    4. In case the work is withdrawn by the consignor on his own volition, he/she will be liable for payment of 10% commission on the reserve price as well as any other cost.
          
    7.         
    1. Every work will be auctioned taking into consideration the reserve-the price agreed between the House and the consignor as the lowest acceptable for its sale. If, for any work there is no agreed written reserve before auction then the House in its absolute, judgment, will fix one. The reserve of a work should not be greater than the lower estimate.        
    2. The consignor should not bid or have somebody else do the biding on his behalf for a work belonging to him.
            
    8.       
    1. Following the auction the consignor will receive from Cypria Auctions for every work an amount equal to the hammer price minus the commission and any other relevant cost (see para.3).The settlement of the account will take place 30 days after the auction, provided that:
                
                a)The works have been fully paid by the buyer  
       b) There is no written objection by the buyer alleging that the work is fake. If the buyer delays the settlement of the account then the payment will be effected 7 days after its full settlement. If for any reason the consignor has been paid before the buyer has settled his/her account, then the work becomes property of Cypria Auctions.         
    2. If the buyer has not paid fully the price of the work(s) within 30 days from the auction date, the House reserves the right to agree with the consignor special terms of settlement, storage and insurance cover and proceed with actions deemed necessary to collect from the Buyer the outstanding balance. Nevertheless the House is liable neither to pay the consignor the outstanding money if it has not to collected them, nor to take on his behalf any legal measures. The House will discuss with the consignor as to the most appropriate measures to be taken with a view of collecting the outstanding money.
                
                If within the period of three (3) years from the date of the auction, the buyer persuades the House that a work is fake then: a) The House will cancel the sale, b) The consignor will be liable to refund the House with the full sum of  money he/she has been paid. In such a case the House will be entitled to withhold any works by the consignor as a guarantee for the full refund of the value of the cancelled sale.            
            
  9. The House has the right to photograph, videotape or create an image of any of the works. The rights to the images belong to the House which retains its right to use them as it wishes.

Important Information for Icons

The Cypriot government permits the importing and exporting of icons to and from Cyprus so long as they are not of Cypriot origin. The Russian, Cretan/Greek and Melchite icons that constitute the majority of our icon auctions will be able to travel freely into and out of the country, including unsold lots.