Artspace reserves the right in its sole discretion and at any time including during an auction to refuse or revoke permission for sellers to offer goods or for buyers to submit bids. Participating sellers and buyers may be required to register on the site, may select a username and password, and must agree to be bound by these terms. Buyers must register a valid credit card with Artspace and agree to pay a buyer’s premium to Artspace which shall be added to the successful bid price. The buyer’s premium shall be equal 15% of the successful bid price for bids on some auction items. The successful bidder shall pay the purchase price plus the buyer’s premium as the final purchase price.
The agreements between the buyers and sellers shall not be governed by the U.N. Convention on Contracts for the International Sale of Goods, the application of which is expressly excluded. Bids are submitted by clicking the “bid” button on the site; all bids are final and cannot be amended or retracted once submitted. All bids will be recorded by Artspace and such recording shall constitute the final and conclusive determination and record of each bid and the highest bid. Sellers may set a minimum price for an auction item (“Reserve Price”). A Seller is not required to accept any bids for less than the Reserve Price. If bids are placed below the seller’s Reserve Price, the bidder will be notified that the bid is below the Reserve Price. Artspace may, through employees, submit bids on auction items that are subject to a Reserve Price. Artspace may (1) submit the opening bid on behalf of the seller at the Reserve Price, (2) place single or successive bids on behalf of the seller in response to other bids that are below the Reserve Price. In no circumstances will Artspace place a bid that is above the Reserve Price.
Enter any bid amount as long as it is greater than or equal to the "Next Minimum Bid" (displayed below the bid field) and click on "Place Bid". This will automatically place a straight bid at the next increment and hold the bid you submitted (if higher than the "Next Minimum Bid") as your "Maximum Bid". You will receive an email confirmation of your bid and will be notified by email when you are outbid. By placing a bid each buyer irrevocable authorizes Artspace to immediately charge Buyer’s registered credit card an amount equal to the buyer’s premium. Please note that if the auction moves to a physical live event (the auction page will specify this and the bidder will be noticed as such by email), the highest bidder after the close of the online auction will be the opening bid at the event and will be notified within 48 hours after the event if the bid is the final winning bid or been outbid by someone at the event. When placing a bid, enter the maximum amount you are willing to pay for the work. Entering your "Maximum Bid" does not necessarily mean you will pay that price, you may pay less. The Auction system will Proxy Bid on your behalf up to the amount of your Maximum Bid. Once you enter your Maximum Bid, your current bid displayed will be in the amount of the "Next Minimum Bid." As the auction proceeds, Artspace will compare your bid to those of other bidders. When you are outbid, the system automatically bids on your behalf according to the bidding increments established for that auction up to (but never exceeding) your maximum bid. We increase your bid by increments only as much as necessary to maintain your position as highest bidder. Your maximum bid is kept confidential until it is exceeded by another bidder. If your maximum bid is outbid, you will be notified via email so that you can place another bid. If the auction is a benefit auction or an auction with a physical event (which will be noted on the auction page), all online bids will be transferred to that event and Artspace or the organization running the event will continue to monitor your bids in person and continue Proxy Bidding on your behalf up to your maximum bid. Winning bidders will be notified within 48 hours after the close of the auction. If you are not contacted by Artspace, you were not the highest bidder. Upon the close of each auction Artspace shall separately confirm the highest bid to the seller and notify the buyer submitting the highest bid that the bid was successful and the amount of the buyer’s premium due to Artspace to be charged to buyer’s credit card. Artspace shall thereupon charge buyer’s credit card in the amount of the buyer’s premium. Upon receipt of the buyer’s premium Artspace shall email both the successful buyer and seller and shall provide each with the name, address, telephone number and email address of the other; buyer and seller are thereafter solely responsible for arranging for the transmission of payment of the purchase price within 24 hours of the transmission of the Artspace email and for prompt shipment of the goods after receipt of good funds. If for any reason after Artspace’s initial confirmation of the successful bid the buyer cancels the transaction or fails to make payment to the seller, the buyer shall remain liable to Artspace for the full buyer’s premium and Artspace reserves the right to retain such buyer’s premium in addition to any other remedies it has at law or equity. Any dispute with respect to the auction of any item shall be resolved between buyer and seller and without the participation of Artspace. Seller is solely responsible for collecting payment from the buyer. Artspace does not guaranty and is not responsible in any way for the performance of buyers or sellers participating in the auction. Goods offered on Artspace Auctions must be tangible goods that meet the requirements of the Site. Sellers shall not offer any goods for sale or consummate any transaction initiated on Artspace Auctions that violates or could cause Artspace to violate any applicable law, statute, ordinance or regulation. Artspace shall have sole discretion as to whether a specific item meets the requirements of the Site, which determination is final. Sellers offering goods shall post a description of the goods offered and may set a minimum reserve price, a minimum overbid amount and the termination of the auction of the goods.
Sellers agree to accept the highest bid above their set reserve price and to deliver the offered goods to the buyer submitting such highest bid. Any goods offered using a seller’s registration log in information shall be deemed by Artspace and any bidding buyer as being offered or authorized by that seller. Sellers are solely responsible for the description, condition, authenticity, and quality of the goods offered. Sellers represent that they are in compliance with all applicable laws, including without limitation those regarding the transmission of technical data exported from the United States or the country in which the seller resides as well as the restrictions on import or export of goods from the seller’s country to the buyer’s country. By posting goods on the Artspace Auctions each seller represents and warrants that he/she holds free and marketable title to the goods offered and that the sale to any buyer will be free and clear of any and all liens or encumbrances.
Sellers agree that Artspace Auctions will publish images and information in English relating to the goods offered by sellers.