Terms and conditions

The conditions below are the terms on which we contract, as an auction house, with sellers and, as an agent, acting on behalf of sellers, with buyers. Buyers and sellers must read the conditions carefully.

1. Terms used:

The Participant is the person who, having an interest in participating in the auction, is admitted by the auction house and has completed the registration process and received a numbered paddle to participate in the auction.

The Buyer is the person with the highest bid accepted by the auctioneer, and to whom the latter awards the lot offered, with the strike of the gavel.

The Lot is the object placed at the auction house for sale by auction, and in particular, the object described attached to a number in any of our printed or online catalogs.

The Hammer Price is the maximum bid figure accepted by the auctioneer for a lot.

The Premium is the fee charged by the auction house to the buyer of a lot and is added to the Hammer price.

The Reserve Price is the price below which a lot cannot be sold.

Forgery refers to a lot which is an imitation conceived and executed entirely with fraudulent intent, to deceive as to authorship, origin, age, period, culture or source, and whose published description in the sale catalog does not correctly reflect these aspects, and which at the date of auction was worth significantly less than it would have been if it had been in accordance with the description in the catalog. In this regard, no lot may be a forgery by reason of any damage and/or restoration work of any kind, including repainting. The insured value is the amount that Bogotá Auctions, at its absolute discretion and at a given time, considers to be the value for which a lot should be covered by insurance.

2. Bogota Auctions SAS, the auction house, acts as a legal entity contracted by the seller to sell the consigned objects, and as a sales agent for the buyer of these lots. At no time does the auction house own the objects for sale, and therefore charges taxes only for the services of contracting and agency.

3. Bogota Auctions reserves the right, exercisable at our complete discretion, to refuse admission to the auction.

4. The owner who is a seller and/or buyer authorizes Bogota Auctions to reproduce the images of the work(s) in all publications related to the auction sale.

5. Items will be sold in the condition they are in at the time of auction and personal inspection of lots of interest is recommended. Lot descriptions are prepared with the utmost care and in good faith. In the event of not being able to personally inspect the lots of interest, the interested party may request a condition report and/or additional photos of the lots from the auction house. The buyer will acquire used personal property at auction. Technical data, measurements or weight data and years of manufacture are reserved. The buyer acknowledges that any claims are excluded and that we do not assume any warranty regarding quality, condition, completeness, visible or hidden defects, other damages or special properties.

6. Warranty in case of forgeries: Bogota Auctions will only proceed with the annulation of the sale of a lot in the event that a buyer claims after the auction that a lot is a forgery (see definition above), and meets the following three requirements:

a. Notifies Bogota Auctions in writing within one year of the date of the auction,

b. Returns the lot to the auction house within two weeks of the date of the notice, undamaged and unchanged since the auction,

c. Presents at least one opinion from a recognized expert in the field, demonstrating that it is a forgery. This guarantee is limited to forgeries and is subject to the following additional conditions: the auction house reserves the right to call in its own experts to evaluate the authenticity of the lot; the auction house will determine the amount to be returned to the buyer, and excludes interest, losses and costs incurred by the buyer in authenticating the lot.

7. Auctions are usually held with consecutive numbers. In isolated cases, we reserve the right to change the order and to discard or combine lots.

8. Each bid may be rejected without stating reasons and may be refused or made under reserve.

9. The lot assignment will be awarded to the highest bidder by the auctioneer, with the strike of the gavel. If several persons submit the same bid at the same time, the auctioneer shall decide. If there are doubts about a lot assignment, the auctioneer may offer it again. In all cases only the provisions of the auctioneer shall apply.

10. All prices are net in Colombian pesos. The Premium is added to the hammer price and is calculated based on the hammer price; the Premium is equivalent to 20% of the Hammer Price; in turn to the premium is added the legal tax on the value of the premium.

For example, if a lot is awarded at 1’000,000 COP, the 20% premium will be 200,000 COP and the 19% tax will be 38,000 COP.

11. The payment of the final price (that is, the sum of the hammer price plus the premium and the tax on it) must be made to Bogota Auctions by check, bank transfer or consignment within five working days following the day of the auction. If this obligation is not fulfilled in full, Bogota Auctions reserves the right to re-auction the lot on a subsequent occasion, and the buyer will incur a penalty equivalent to 30% of the final price, which may be offset against any partial payment that has been made.

11-1. Cash payments will only be accepted up to a maximum amount of COP 1’000,000.

12. In case the payment is made with Mastercard and Visa debit or credit card, the buyer will assume the transaction costs by the bank for the use of the dataphone. (4% commission).

13. When the price is indicated in dollars, it will be merely indicative. Payment shall be made in Colombian pesos, for the amount for which the work was awarded at auction. The amount to be paid shall be the amount corresponding to the value in Colombian pesos for which the work was awarded at auction.

14. The object of sale shall be deemed to have been awarded to the buyer with the strike of the gavel by the auctioneer, whereupon the liability and risk of possible ruin, loss or damage by fire, water, storm, theft or theft by use of force or violence shall also pass to the buyer from that moment. This shall also apply in particular to accessories. However, ownership shall only pass to the purchaser once the final price has been paid in full.

15. The purchase of the work is perfected at the time of adjudication by the hammer, and the payment thereof does not include the delivery of a certificate of authenticity. It is the buyer's responsibility to inquire before the auction about the existence of said certificate. Bogota Auctions only offers a certificate of provenance for works of art where the name of the last owner of the work is indicated. In any case, once the payment has been received, Bogotá Auctions may be asked to make the necessary inquiries and procedures to obtain the certificate of authenticity of works of art, if possible.

16. The auctioned object must be picked up upon full payment of the final price; the prices for each object are understood to be delivered on site, dismantled and unloaded. Collection must take place within fifteen calendar days from the date of the auction. In case of exceeding the indicated deadline, the buyer shall bear the storage costs corresponding to 10,000 pesos per day. If the collection does not take place within three months after the auction, the auctioneer may, without further request, auction the object(s) again or sell it/them out of auction. Any costs arising therefrom and a possible lower sale value shall be borne by the first purchaser.

17. In the case of virtual auctions, the same general conditions apply. Therefore, once the respective bid has been clicked on, the bid shall be deemed to have been placed.

18. No liability is assumed in case of accidents to participants or third parties during the visit, auction and collection. The use of recording devices is strictly prohibited.

19. All participants in the auction will be liable for any damage they may cause, regardless of the nature of the damage.

20. The buyer will be responsible for accidents or damage to buildings, external objects, etc.

21. The auctioneer may collect and claim the purchase money and ancillary claims in his own name on behalf of the customer.

22. A bidder participating in the auction on behalf of another bidder shall be jointly and severally liable with the first bidder.

23. Invoices issued during or immediately after the auction shall require subsequent verification, so subsequent corrections are permitted.

23-1. It is presumed that the person who appears in the registry (in person or virtually) as the holder of the pallet assigned with the number with which the bid is placed is the person responsible for the respective payment and the invoice for the purchase made at the auction will be made out to them.

24. Bogota Auctions collects the data of all parties in databases and treats them in accordance with Colombian law on data protection.

25. When registering for an auction, each bidder will receive a numbered paddle issued in their name, which must be kept with maximum diligence until the end of the auction. The bidder will be responsible for misuse of their bidder's number and for the lots awarded to such number.

26. Bogota Auctions only acts as a mediator/agent in the sales. Except for fraud or gross negligence, any liability of Bogota Auctions is excluded.

27. The place of performance and jurisdiction is Bogotá, Colombia. The law of the Republic of Colombia shall apply exclusively without prejudice to the United Nations Convention on Contracts for the International Sale of Goods.

28. If any provision of this contract is or becomes invalid or void, this shall not affect the validity of the remaining provisions of this contract.

29. The bidder and the final buyer acknowledge our Conditions by their participation in our auction.

How to buy at auction

It is recommended to first familiarize with the descriptions and estimates, the modalities of registering for the auction, the different ways of buying by auction, and the Premium: the buyer's commission. If you want to participate in an auction, or if you have additional questions, you can contact us by mail: info@bogotaauctions.com

How to buy at auction?

It is easy to buy at Bogota Auctions SAS. It is recommended that you first familiarize yourself with the descriptions and estimates of the lots you are interested in, how to register for the auction, the different ways to buy at auction, and the Premium (buyer's commission).

If you want to participate in an auction, or if you have additional questions, you can contact us by mail: info@bogotaauctions.co

How to find lots of your interest

You can find out which lots will be auctioned by consulting our catalog and our website www.bogotaauctions.com. You can also come to our headquarters to visit the exhibition of the lots.

Artwork/piece label

In addition to the illustration online and in the catalog, this label offers lot descriptions such as measurements, medium, age, attribution and references, as well as their state of conservation.

Commercial estimates

Each lot comes with a sales estimate range, denominated in Colombian pesos, and an approximate equivalent in dollars. The estimate has been determined by our experts and takes into account the quality and uniqueness of the item, as well as its condition and provenance. A lot can be sold within the estimated range, or above.

Reserve

The reserve is the price below which a lot cannot be sold. This value is confidential and is not published. The reserve price is equal to or less than the low estimate.

Inspection of lots

We encourage you to personally inspect the lots you are interested in. All lots will be on public display during the days prior to the auction.

Condition Report

You may request a condition report prior to the auction. It supplements the description in the catalog and gives some indication of the condition of the lot, including restoration.

Registration Process

In order to participate in an auction, you must register on our website www.bogotaauctions.com. Go to LOGIN and fill out the form in which you accept our Terms and Conditions and agree to pay the price. Our team will message you in order to validate your registration. Once validated, you will be able to coordinate the modality of participation.

Participation modalities:

Bidding in person

When you register for our auction, you will receive a numbered paddle that will be given to you when you attend in person. The auctioneer or “hammer” announces each lot and price increments are predictable but may vary. You raise the paddle to declare your interest in purchasing a lot at the advertised price. The auctioneer indicates when they are about to sell the work (to the highest bidder) and closes the bidding for the lot with the gavel. The final price announced by the auctioneer is the auction price or hammer price.

Bidding on the phone

If it is impossible for you to be present in the sale room, you can register to speak on the telephone with a representative of Bogota Auctions SAS, who will comment live on the progress of the auction and who will bid on your behalf. It is advisable to register for bidding on the phone at least 24 hours prior to the event. All calls will be recorded.

Bidding in absence

Another method of participation is the written bid. This is an instruction from you to the auctioneer to bid for a lot at the lowest possible price and to raise your bid progressively up to the maximum bid indicated by you.

Premium (buyer's commission)

The final price announced by the auctioneer is the assignment price or hammer price. If you are the winning bidder for a lot, you will pay the hammer price plus the Premium (or buyer's commission) corresponding to 20% on the hammer price, plus tax on the Premium.

How to pay for your lot

With the auctioneer's strike of the gavel, the sale agreement between Bogota Auctions and you the buyer is concluded, and obligates you to pay within five business days following the auction day. You can pay by check, bank transfer, consignment or credit card (4% commission).

Delivery or shipment of your lot