These terms apply to each consignment and handover of items of movable property for auction by Arts & Antiques Group, f.k.a. Glerum Kunst- en Antiekveilingen B.V. (hereinafter referred to as: ‘AAG’). By signing the receipt, the consignor acknowledges his understanding of and agreement with these terms. These terms may be varied only by an express statement on the receipt.

In these terms:
a. auction: means a public auction sale of items of movable property;
b. lot: means the item or set of items of movable property to be sold by auction;
c. consignor: means the person who consigns the lot to AAG for auction;
d. reserve: means the minimum price agreed between AAG and the consignor at which the auctioneer may sell a lot;
e. receipt: means the form acknowledging receipt of one or more lots.
  1. The consignor authorizes AAG to sell the lot by auction subject to these terms.
  2. AAG shall use its best endeavours to offer the lot for sale at a suitable auction and to sell the lot on behalf of the consignor to the party making the highest bid at the auction, unless such bid is lower than the reserve agreed between AAG and the consignor.
  1. The consignor declares that he is fully entitled to dispose of the lot and that he will compensate AAG in full should AAG be required to surrender the lot to a third party having superior rights.
  2. The consignor shall be fully liable to AAG for any loss or damage sustained and any costs incurred on account of any inconsistency, inaccuracy, incompleteness or defect in the information provided to AAG by the consignor about the origin, condition and quality of the lot consigned for auction.
  1. AAG shall be free to determine if, when and at which auction the lot will be offered for sale.
  2. AAG shall have the right to provide such information on the lot to be auctioned as it sees fit and to distribute images thereof in the public domain.
  1. AAG shall have the right to decide not to sell a lot at an auction if the highest bid is too low in the considered opinion of the auctioneer.
  2. AAG shall have the right to sell the lot at an auction at a price lower than the reserve, on condition that AAG pays the difference between the hammer price and the reserve.
  3. If a lot is left unsold at an auction, AAG shall be entitled, subject to the conditions agreed between AAG and the consignor, to sell such lot by private treaty after the auction or to sell it at a subsequent auction.
  1. Notwithstanding the provisions of Article 4, the consignor shall have the right to withdraw a lot that has been left unsold at an auction, upon reimbursement of the costs incurred by AAG and agreed between the parties.
  2. If the consignor withdraws a lot after the final consignment date for a scheduled auction, the consignor shall be required to compensate AAG for the commission and premium lost and to reimburse AAG for the costs incurred and agreed between the parties.
  1. The consignor irrevocably authorizes AAG to allow the buyer of a lot sold to demand that the sale be cancelled and that the purchase price be refunded if the buyer demonstrates to the satisfaction of AAG – within one year of the date of the auction – that the lot in question is defective or that its description is incorrect to such an extent that if the buyer had been aware thereof at the time of the auction, he would not have purchased the lot or would have purchased it only at a substantially lower price.
  2. The consignor irrevocably authorizes AAG to demand cancellation of a sale and to withdraw the lot if the buyer of the lot fails to meet his payment obligations arising from the sale.
  3. If a sale is cancelled pursuant to this article, the lot shall be deemed not to have been sold and the consignor shall be required to repay to AAG, without delay, any amount already paid to the consignor in this respect.
  1. The consignor shall be entitled to the proceeds of the sale of the lot, less the following:
    1. Commission: a 10% commission shall be payable to AAG for paintings, drawings, water colours, prints and sculptures. The commission payable to AAG for all other items shall be 15%. The minimum commission for each lot shall be 100 euros.
    2. Illustration costs: the following rates shall be charged for the insertion of photos of the lot in the auction catalogue: 50 euros for a quarter page photo, 150 euros for a half page photo and 250 euros for a full page photo.
    3. Transport costs: AAG shall charge the consignor for the transport costs actually charged by the carrier.
    4. Insurance costs: to cover the cost of insurance against loss of or damage to a lot, AAG shall charge a standard mark-up of 1% on the higher of the hammer price or the low estimate of the lot. The insurance policy shall only cover the items located in the auction house or in AAG’s storage rooms, and the maximum cover shall be the amount on the basis of which the mark-up is calculated. AAG shall not be liable for any loss of or damage to picture frames.
    5. Handling fee: AAG shall charge a handling fee for each invoice issued.
    6. Other expenses: other expenses shall be charged only if this has been expressly agreed between AAG and the consignor.
    7. Taxes: AAG is required to charge VAT on the commission and on the costs and expenses to be charged to the consignor, with the exception of the insurance costs.
  2. Resale royalty: any resale royalty payable in respect of the lot sold shall be determined by AAG to the best of its knowledge and ability, and be charged to the buyer as part of the purchase price. The risk of any additional resale royalty charge shall rest with the consignor.
  1. All payment transactions relating to the auctions conducted by AAG are handled by the foundation Stichting Derdengelden Registerveilinghouder AAG c.s.
  2. The consignor shall be entitled to payment of the proceeds of the sale of a lot only if and when the buyer has met his payment obligations.
  1. The legal relationship between the consignor and AAG shall be governed by the laws of the Netherlands. In the event of a conflict or inconsistency between the Dutch text and any translation of these terms, the Dutch text shall prevail.