How to buy at VLADEY auction
These rules will help a potential buyer to purchase the selected works of art. The auction lots are the works of contemporary art published in the auction catalog. The organizer of the auction is "O!VLADEY" Ltd.
The pre-auction exhibition is open to the public free of charge and VLADEY specialists are at your service for a consultation and any clarifications. Bidders can be either legal representatives (subject to a duly executed power of attorney being provided) or adult individuals.
To participate in the auction bidders should complete the on-line registration form in advance or at the front desk just before the auction.
The auction is conducted in the following manner:
- Bidders of the auction undergo preliminary registration to receive a card with a number of bidder or login and passoword from bidder account on the web-site VLADEY.NET
- The auctioneer, presenting lots for the auction, announces their title and the starting price.
- The auction is carried out by raising the initial price of the auction (the "auction step"). The "auction step" is set by the auctioneer.
- Bidders raise their cards with their personal number or press the button (online) to inform they are ready to purchase the lot at a price one step higher than the previously announced one.
- Online buyers raise their bids on the website online.vladey.net pushing the «Bid» button. It indicates your acceptance to buy a certain lot by the price which exeeds the previous one by one bid increment.
- The winner of the auction is the bidder with the highest price for the lot. With the hammer blow the auctioneer announces the winner of the auction.
- The auction organizer can record audio and video during the auction.
Raising the card with the participant number or online bid confirms the conclusion of the art work contract of sale, as well as it confirms delivery of services by the Auction.
- Besides the price of a purchased lot, the winning bidder is obliged to pay to the organizer of the auction the auction fee at the rate of 20% of the hammer price of the purchased lot.
- The winning bidder for lots marked (*) must pay an additional fee to the author, calculated in accordance with Article 1293 of the civil code of Russian Federation.
The buyer pays for the purchased lots in rubles at the exchange rate of the Central Bank of Russia on the day of the auction. In the catalog, the lot estimates in rubles are based on expected euro rate on the day of the auction.
If the Participant, who won the sale, refuses to pay for the purchased lot, he must pay the auction fee. In turn, the auction passes the artwork owner right to claim for the payment of the transaction.
Depending on individual cases, LLC «O!VLADEY» is able to ask for additional documents to prove the ability to pay of the participant.
Lots are sold «as is» as displayed at pre-auction exhibition.
The wining bidder must provide payment to the organizer of the auction by money transfer within 3 days from the date of the auction.Payment by cash or by card (Visa, MasterCard, American Express, etc.) is possible only if the amount of the payment does not exceed 250,000 ₽.
Artworks, if they are fully paid for, will be transferred to the winning bidder within 10 days from the date of the auction. Under such circumstances when the bidder does not pick up the artworks within 10 days from the date of the auction, the storage of the pieces is subject to the reimbursement of the auction organizer.
The auction organizer is ready to assist in the delivery of artworks to the bidder at his/her expense.
The report on the auction results is not made due to the technical features of the auction.