Auction rules

for a public voluntary auction

1. Peron, Ltd., U Luzickeho seminare 12, Prague 1, (hereafter only “auctioneer”) announces that on December 1, 2012 at 2 pm shall, at the request of owners of items to be auctioned, perform a voluntary public auction at Rudolfinum, Suk´s hall, Alšovo náměstí, Praha.

2. Auction items are specified and described, including the lowest offer (starting price), in the auction catalogue. Items shall be auctioned in the order as listed in the catalogue.

Art pieces to be auctioned shall be exhibited in Galerie Peron, U Luzickeho seminare 12, starting on November 26 until November 30, 2012, during regular opening hours.

The auctioneer shall, during the auction, ensure the object is called by its order number, short description and the calling price. After the calling of the object, the sale ring (hereafter only “bidder”) may start bidding by a visible lifting of the assigned auction number. Auction of an item shall last as long as bidders make bids.

Bidding up is as follows:

100 CZK at immediate auction price lower than CZK 5,000
500 CZK at immediate auction price at least CZK 5,000 but less than CZK 10,000
1,000 CZK at immediate auction price at least CZK 10,000 but less than CZK 50,000
5,000 CZK at immediate auction price at least CZK 50,000 but less than CZK 100,000
10,000 CZK at immediate auct. price at least CZK 100,000 but less than CZK 500,000
50,000 CZK at immediate auction price at least CZK 500,000 and more.

The order of the bidding is determined by the person designated to run the auction.

5. The declarer shall settle all obligations made during the auction during the nearest break. For payments in cash, the declarer shall be charged commission in the amount of 17%. For credit card payments, the declarer shall be charged commission in the amount of 20%. Other forms of payment (wire transfer, check, etc.) must be arranged prior to the auction.

6. The bidder may auction any item without physical presence at the auction if he/she:
       a. Signs a notarized power-of-attorney for the auctioneer
       b. Specifies the items the auctioneer shall auction
       c. Specifies a limit up to which the auctioneer shall bid, for each respecitve item
       d. Telephone auctioning may be done after a written agreement

7. Item auctioned off shall be handed over immediately following the closure of the auction on the basis of “receipt of payment” in Galerie Peron, U Luzickeho seminare 12, Prague 1, until 7 pm and during following days at regular opening hours, however, no later than seven (7) calendar days after the auction, unless agreed with the auctioneer otherwise.

Important notices

Registration of bidders is possible anytime during opening hours at Galerie Peron or at the auction place on the day of the auction 1 hour before the commencement of the auction and as long as it lasts.

Entry to the auction is limited only by the capacity of the room. Auction catalogue or an invitation serves as an entry ticket. Entry to the auction is forbidden only to such persons who would disrupt the auction by their improper behavior.

The auction number may be obtained 1 hour prior to the commencement of the auction for a returnable deposit in the amount of CZK 500. The number may be returned and the deposit disbursed back any time during the auction but no later than 1 hour after its end.

The auction catalogue may be extended with a supplement in case items widening the auction offer are obtained after the catalogue deadline. This supplement shall be available to bidders during the exhibition of the pieces to be auctioned. Data in the auction catalogue are not expert opinions. The catalogue does not specify ordinary wear caused by time and use.

All written auction offers must be registered no later than 1 hour before the commencement of the auction. Items marked by Z following the author’s name are subject to export prohibition. Such items may be auctioned off only by citizens of the Czech Republic who shall identify themselves with a valid ID.

Claims regarding the price, state, quality and functionality of the items auctioned off shall not be accepted after the bid.

Items auctioned off shall be paid by cash or by credit card during the first immediate break after the bid. Items not paid at least with a deposit shall be returned to the auction and claims for damages possibly incurred shall be raised against the original bidder. Other forms of payment, such as checks or bank transfers, must be negotiated in advance.

Pavel Žurav
Managing Director