Terms and conditions

General Contractual Terms and Conditions

SCOPE OF SERVICES PROVIDED ON THE ONLINE PLATFORM ARTBID.PT

ARTBID provides an online Trading Platform where you can bid, buy and sell products, items or objects ("Lots"), through auctions held online, which are automated and computer-dependent ("Online Auctions").

For all purposes provided for in these contractual terms and conditions, the following shall be deemed to apply:

1. Each and every person who uses our Online Trading Platform is called a User.

2. The users who buy the Lots are called Buyers, being responsible for the Lots they buy in any Online Auction, not being ARTBID responsible for any defect, limitation, non-conformity of the Lots awarded.

3. The users who sell the Lots, are called Sellers, and they are entirely responsible for all the Lots they sell in any Online Auction, and ARTBID is not responsible for any error, defect or inconformity in the bidding, or for any claim that may be presented by the Buyer, that concerns the Lots awarded.

By using any service on our online trading platform, any user is giving their express, explicit and informed consent for ARTBID to provide and make available its services to both Buyer and Seller.

ARTBID only has the function of mediating and supporting by offering an online Trading Platform, making it clear that ARTBID is not a party to the sales contract. The parties to the contract of sale shall be the Buyer and the Seller, whose rights and obligations are equally regulated in these Contractual Terms and Conditions, in the part Buyer's Terms and/or Seller's Terms.

In fact, ARTBID cannot be held responsible, under any circumstances, for any false information, omission, defect, lack, default, or other causes that may justify the eventual termination of the purchase contract.

A commission is charged for using our services. Both Buyer and Seller shall pay a Purchase or Sales Commission, provided for and regulated in the applicable contractual conditions.

For all purposes, ARTBID may use complementary services provided by third parties and the Online Trading Platform may contain hyperlinks to third party sites. The use of the products, services and applications of third party sites will be governed by the contractual terms and conditions and privacy and security policies adopted by these third parties, which we advise you to read carefully.

CONDITIONS OF ACCESS AND USE OF THE ONLINE PLATFORM

Before you can access our online Platform and use our services, you will need to create an ARTBID account ("Account") The registration, creation of an Account and access to the online Platform shall be carried out by users aged 18 (eighteen) years or over, whereby the data provided by users at any time during registration and/or access to our Platform shall have full legal effect, with the user not being able to allege the absence of recognition or validation of documentation to conclude the purchase and sale contract, or lack of knowledge of the applicable terms and conditions.

In creating Your Account You must provide true and complete information about Yourself or Your company and You must keep any information updated at all times. ARTBID will not be held responsible, under any circumstances, for information that is incomplete, false, or that could mislead any user and/or third party in the formation of their contractual will, or in the execution of the sales contract.

When creating your Account you must create a password, which must be associated with your email address. The combination of your email address and password shall remain confidential and secret during the whole period in which the Account is active, being personal and non-transferable, and its disclosure to third parties is prohibited. ARTBID assumes, for all due purposes, that you are the only user who can login to our Platform, using the associated email and password.

To ensure the security and reliability of the online Platform, ARTBID reserves the right to deny the ability to create an Account, to restrict its use and to withdraw the user's right to access their Account. ARTBID reserves the right to suspend, restrict or terminate the use of the Online Platform through all the Accounts it may associate with a given user. Each and every Account may be associated to a particular user, based on the information downloaded and shared across the different Accounts. If you do not agree with the association of the Accounts created, you must provide sufficient proof that the Accounts are not associated with the same user.

The use of the Account for accessing the online Platform is the sole responsibility of the user, as is the use of the technical and computerised means for this purpose, such as computer, internet connection to access the Platform. By using the Online Platform, you undertake to comply with all national and European legislation and regulations, namely legislation relating to auction activity and the way in which online trading platforms operate.

When using the online Platform, the user may download certain materials or content, such as Lot descriptions (objects), photographs, specifications opinions, messages, offers and/or advertisements (hereinafter Materials and Content). The user is responsible in front of any public organism, private entity or judicial authority for the veracity of the information provided, namely, photographs, messages, descriptions, specifications uploaded onto the Platform. No error, inaccuracy, legality or reliability of the Materials or Content can be attributed to ARTBID.

To this extent, the user undertakes not to negligently or culpably send or transmit any material or information which is defamatory, invasive, pornographic, illegal, or which infringes the rights or privacy of third parties, or which may in any way violate or damage the rights of minors, the prohibited or the disabled. Users are also prohibited from representing or being illegitimately represented by a natural or legal person and from providing, transmitting or sending, regardless of fault, any Material or Content which is illegal, abusive, contrary to good customs, contains software viruses or any other computer code, files or programs, the purpose of which is to interrupt, destroy or limit any functionality made available on the online platform, of any computer, computer system (hardware or software) or telecommunications equipment, and which may also compromise, render unviable, reduce or alter any service, Auction or activity of the online platform.

If you are of the opinion that Material or Content uploaded by any user is illegal or infringes in any way the rights of third parties, we ask you to inform ARTBID, via email to geral@artbid.pt. ARTBID agrees to remove any Content or Material posted by the user, even during the auction, that is clearly illegal, abusive, or in violation of any third party rights. ARTBID may refuse any request to block, suspend or recur any ongoing activity, provided it has valid reasons to doubt the veracity or accuracy of the notice sent or the evidence sent.

If you violate these Contractual Terms and Conditions, ARTBID reserves the right to limit your access to the online Platform, not authorising the creation of a new user Account and/or using an Account under another user name.

RIGHTS GRANTED TO ARTBID

ARTBID is not a party to the purchase and sale contract, nor does it intervene in the formalisation and conclusion of the contract, being only an intermediary in the promotion of the Materials and Contents made available by the user on its online Platform

The user, by placing the Material/Content on the online Platform, authorises ARTBID to use it for the purposes described herein. All intellectual property rights remain with the user and ARTBID is granted free, global, non-exclusive, irrevocable permission to publicise and communicate the Material/Content made available by the user to the public and/or to reproduce and disseminate it for all necessary purposes, including promotional purposes. This authorisation allows us to promote the Lots and the Platform online in any format or through any other channel or connection. Even if you cancel your Account, or for some reason cease accessing the online Platform, ARTBID may continue to use and promote the Materials and Content made available by you, and you may not claim or exercise any proprietary rights against ARTBID.

Through this authorisation ARTBID is given the possibility, through the means available, to translate the Material or Content uploaded by the user to promote a particular Lot so that it can be disseminated and advertised in other countries. The translation is assured through automated mechanisms, and may present flaws, failures, errors and imperfections, for which ARTBID will not be responsible. In the event of conflict between possible translations, the Portuguese version shall always and under all circumstances prevail.

If ARTBID is informed of an incorrect translation of a particular Lot while the Lot is in Auction, it may, at its own discretion, adjust the Lot description or remove the Lot from the Auction. The removal of any Lot from the Auction or the online Platform does not entitle the user to the payment of any damages or compensation.

All intellectual property rights, such as copyright, trademark rights, database of the Online Platform, including and without limitation, intellectual property rights of texts, images, design, photographs, software, audio-visual material or other material, regardless of the format in which they are found, that are in the possession of ARTBID or that are downloaded on the Online Platform, belong and will remain with ARTBID.

ARTBID is also authorised, at any time and without prior notice, to make procedural, technical or commercial changes to its Online Platform. The online Platform may, at the discretion of ARTBID, be unavailable at any time to carry out the necessary interventions for its maintenance and/or alterations.

All photographs prepared and edited by ARTBID, downloaded on the Platform, are the exclusive property of ARTBID and may not be copied, assigned, downloaded, sold, transmitted, transposed or altered by any user or third party accessing the Platform.

ACCOUNT CANCELLATION, SUSPENSION OR OTHER MEASURES

You may terminate your Account at any time. However, ARTBID may refuse to close your account if you still have unfulfilled contractual obligations - such as payment or delivery of Lots - to ARTBID or any other user, or if there is still the possibility of complaints regarding recently sold Lots

n case of violation of these Contractual Terms and Conditions, ARTBID may immediately close your Account, without any formal requirement, communication or interpellation for this purpose. Alternatively, ARTBID may suspend the Services, or any Account associated with the same user, until any breach of these Terms and Conditions has been remedied or overcome.

To ensure compliance with the obligations set out in these Terms and Conditions, ARTBID may, at its discretion and at any time, refuse payment or reimbursement, offset any amount that it has owed to the user, until has been proves and ensured compliance with all the obligations herein, under the terms of the legislation in force

GENERAL CONTRACTUAL PROVISIONS

Definitions

Given the activity carried out by ARTBID, the following concepts apply:

1) Description of the Objects – ARTBID's description of any object (verbally or in writing), including its nature, gender, condition, artist, period, weight, dimensions or provenance, corresponding to ARTBID's opinion, not being considered a technical and professional description, usually carried out by professional historians or researchers and all dimensions and weights are approximate.

2) Condition and Conservation of the Objects – the state of conservation of the objects varies according to several factors, such as age, previous damage, wear and tear and restoration. The objects put up for auction may not be in perfect condition, and are sold under the conditions in which they are found at the time of sale.

3) Condition Reports – the report on the state of conservation of an object, also known as a Condition Report, may be useful to evaluate its condition, and this report corresponds to ARTBID's opinion, for the lots in its possession, or to the Seller's opinion, for the lots in their possession or ownership, and may not refer to all faults, restorations, alterations and adjustments, since ARTBID staff are not professional restorers or conservators. For this reason, these reports on the state of preservation of the objects do not replace a professional opinion on the matter.

4) Estimates – The estimates are subject to change and neither ARTBID nor any other entity can guarantee that such estimates correspond to actual sales values. All persons have access to the estimates presented, being this information of public and indiscriminate access.

5) Reserve Value – All objects are subject to a reserve value, which corresponds to the minimum value accepted by the seller for the sale of each object or Lot of objects and below which they cannot be sold. If the sale at auction of a certain object is unsuccessful, ARTBID can hold a new auction for the sale of the object, reducing the previous Reserve Value by up to 25%

6) Base Value – Value at which a bid can be made for each object or Lot of objects.

7) Purchase Commission – corresponds to the percentage relating to the purchase of one or more objects, due to ARTBID, applied on the sale value of each Lot, which is subject to VAT at the legal rate. The purchase commission shall be paid by the Buyer.

8) Sales Commission – Corresponds to the percentage related to the sale of one or more objects, owed to ARTBID, to be deducted from the Sales Price, plus VAT at the prevailing legal rate. This commission shall be paid by the Seller.

9) Buyer – Is the bidder, of legal age, that, under these Contractual Terms and Conditions, makes the highest bid at the close of the auction.

10) Seller – Is the person or entity that enters into a contract with the Buyer for the sale of objects at Auction, being able to use all the services available on the online Trading Platform made available by ARTBID.

11) Expenses – Are the costs and charges payable to ARTBID, in relation to the sale of the objects, including restorations, insurance, storage, packaging and transport of the same, the issuance of CITES certificates, amongst others.

12) Sales Price – The amount for which the objects have been sold to the corresponding Buyer, without the inclusion of commissions or other charges.

13) Total Amount Due – The Sales Price of a sold lot, plus the Buyer’s commission and any eventual additional charges and expenses due from the Buyer.

14) Net Sales Price – The net amount due to the Seller, i.e. the Sales Price of the lot sold, after deduction of the Sales Commission, at the previously agreed rate, minus the Expenses and any amounts owed by the Seller to ARTBID, on any account.

15) Original Work of Art – Any works of graphic or plastic art, such as pictures, collages, paintings, drawings, engravings, prints, lithographs, sculptures, tapestries, ceramics, glassware and photographs, provided they are made by the artist himself or are copies considered to be original works of art, and should be numbered, signed or in any other manner authorised by him.

HOW THE AUCTION WILL OPERATE

Only bids made online, through the online Platform, available through the website www.artbid.pt, will be accepted. The Seller and Buyer must be duly registered and have access to their Account.

From the moment the Buyer bids for an object or Lot, he gives his express consent to the provision of services by ARTBID and to its mediation and intervention in the sale of the object or respective Lot, binding himself to the fulfilment of the conditions laid down in these General Terms and Conditions.

The Buyer accepts that their bids made from their Account are final and binding and cannot by any means be reversed or revoked. ARTBID is not responsible for any errors, mistakes, or failures that may occur in the online bidding by the bidder or potential Buyer.

The Buyer is not allowed to bid on his own Lots or on Lots of anyone associated. You are also not allowed to have anyone associated with you bid on your own Lots.

Before accepting the bid, ARTBID may require the deposit of a certain amount or proof of payment security before one can bid on a Lot.

ARTBID reserves the right to recommence any Auction or bid if it considers that it is the most fit, proper or reasonable to do so at any given time.

Whenever there are bids during the last 3 minutes before the auction close time for a Lot in bidding, an additional 3 minutes will be added to the Auction close time for that same Lot and so on. The Auction will end when no one else bids.

Increases to the bids are established by ARTBID, in accordance with the following bid increase table:

From To Increases

€ 1 € 5 € 1

€ 5 € 50 € 5

€ 50 € 200 € 10

€ 200 € 500 € 20

€ 500 € 1.000 € 50

€ 1.000 € 2.000 € 100

€ 2.000 € 5.000 € 200

€ 5.000 € 10.000 € 500

€ 10.000 € 20.000 € 1.000

€ 20.000 € 50.000 € 2.000

€ 50.000 € 100.000 € 5.000

€ 100.000 € 200.000 € 10.000

€ 200.000 € 500.000 € 20.000

€ 500.000 > € 500.000 € 50.000

Under no circumstances will ARTBID’s system bid automatically, in the seller’s name, up to the Reserve Price or above this price.

The maximum bids registered by bidders will never be disclosed by ARTBID, being only registered in the online Platform, meaning that the value of the Lot will be automatically increased, provided that there are bid(s) or maximum bid(s) placed afterwards.

If the auction sale of a certain object has been frustrated, ARTBID may hold a new auction for the sale of the object below the Reserve Value, subject to the authorisation of the Seller.

For the Lots that are in ARTBID's possession and were not sold at Auction, the respective sales are hereby authorised at or above the Reserve Value, to any interested party, outside the Auction.

Varying or additional terms and conditions of sale may apply to certain sales. The supplementary conditions for offering Lots and/or bidding will be stipulated in the online Platform, or by sending ARTBID messages or emails. All users are bound by the terms and conditions as set out herein.

ARTBID may prevent the Buyer or the Seller from participating in a given Auction, at any time (during or after the Online Auction) and at its discretion, from the moment it considers that this is possible, adjusted and appropriate for the defence of its interests.

ARTBID may likewise remove any bid from a running Online Auction in the event of possible fraud, abuse or manifest illegality.

The objects that make up each Lot sold at Auction are sold in the condition in which they are, possibly with defects, imperfections and possible errors or omissions of description. In the case of lots whose constitution includes mechanisms, whenever their description does not expressly state "working mechanisms", these may need to be repaired. The photographs of the objects are exclusively for the identification of the Lots, subject to sale.

The Buyers accept the Lots in the state in which they are before the sale at Auction and will judge, in a free way, if they correspond, or not, to the description given. For a better appreciation of the objects that make up the Lots for sale, ARTBID advises potential Buyers, whenever they deem it necessary, to request more detailed information about them and their state of conservation.

It is also understood that ownership title to the objects making up each Lot shall not pass to the Buyer until the Buyer has paid in full the Total Amount Due. Any loss or damage, including theft or robbery of any Lot purchased, shall entitle the Buyer only to receive the amount equal to the amount paid to date, and the Buyer shall not be entitled to any compensation, damages or interest.

ARTBID shall not be liable for any errors, omissions, inaccuracies, imperfections relating to the description, genuineness or authenticity of any object or Lot.

Places of delivery of the purchased Lots

The objects that make up the Lots awarded in an Online Auction may be collected or delivered as follows:

(i) The objects remain in the possession of the Seller until their delivery, or at ARTBID's premises until their sale and delivery; the Buyer bears the shipping costs to the address associated to his Account, in accordance with the applicable contractual terms and conditions.

(ii) The objects that make up the Lots must be picked up by the Buyer at ARTBID's premises, within the deadlines and conditions also referred to in the applicable contractual conditions.

(iii) The objects that make up the Lots that are in the Seller's possession must be collected by the Buyer, under conditions to be agreed upon between them, the transport costs and shipping charges being borne by the Buyer. In the Sales Price of the object or Lot, the Seller may indicate the value of the transport that will be charged to the Buyer.

(iv) Alternatively, the objects that make up the Lots may be delivered under the conditions of sale that may be agreed directly between the Seller and the Buyer, providing ARTBID the contact details of each of the Parties for the completion of the transaction. ARTBID will make available the contacts (name and telephone number) of the Seller to the Buyer only and with the express and informed consent of both Parties, not being responsible for any inaccuracy or lack of information provided for this purpose. Likewise, ARTBID is not responsible for any contractual breach and/or any delay in the delivery of the objects, with the Parties, Seller and Buyer, being solely responsible for ensuring that the transaction takes place under the previously agreed conditions.

CONTRACTUAL RESPONSIBILITIES AND GUARANTEES

The services provided by ARTBID are made available through access to the online Platform, which users’ access through their Account and registration, according to the conditions described above.

However, even though ARTBID tries to gather the best possible conditions for accessing and monitoring the online Platform, it cannot be held responsible for any failures or delays in providing information, and this service is provided as it is and under the conditions applicable at each moment.

ARTBID therefore cannot ensure or guarantee that (i) the online Platform is secure or available at any time or location; (ii) any defects or errors will be corrected; (iii) the Platform will be free of viruses or other harmful Materials; (iv) the use of the Platform will meet users' expectations.

ARTBID is also not responsible for any damages resulting from or associated with the use of the online Platform, or resulting from illegal or similar acts, the completion or performance in the delivery of the Lots, and/or the termination of the purchase and sale contract by the Buyer or Seller, the cancellation of a transaction by ARTBID or the termination of a purchase and sale contract at the request of the user, value estimates we may provide, not guaranteeing that the value indicated is correct, any errors in the text resulting from automatic translation errors, user Material or Content (photos, lot descriptions or others), illegal use of the online Platform, technical problems or other errors that may occur on the online Platform.

ARTBID is only responsible for any direct damage suffered by the user as a result of an error or unlawful act that can be attributed to ARTBID. Direct damage includes only material damage to property, or costs incurred by the user.

If the objects or Lots are in the Seller's possession, all damage or loss that may occur will be the Seller's exclusive responsibility.

If the objects or Lots are in ARTBID's possession and ARTBID is responsible for any damage or loss, its liability is always limited and subject to the following conditions: (i) If the damage or loss occurs before the Auction is held, ARTBID's liability is limited to the Reserve Value of the object or Lot; (ii) if the damage or loss occurs during the Auction, ARTBID's liability is limited to the Reserve Value of the object or Lot; (iii) if the damage or loss occurs after the Auction is held, ARTBID's liability is limited to the Sales Price, after deduction of the commissions due to ARTBID.

The user must indemnify ARTBID for any damages or losses arising from third party claims and for all costs suffered or incurred by ARTBID, caused by or resulting directly or indirectly from: (i) Breach of the Contractual Terms and Conditions; (ii) any improper or illegal actions performed during the use of the online Platform; (iii) violation of any laws, regulations, or third party rights, or (iv) practice of any illicit, illegal act, contrary to good customs and/or that violates any third party right, regardless of its nature.

CONTRACT RESCISSION (RIGHT OF WITHDRAWAL)

In accordance with applicable law, the Buyer is entitled to cancel and return any purchase made from a professional Seller, provided that: (i) The Buyer does not purchase objects on a professional basis and is a final consumer and (ii) the Buyer resides in a European Union Country, including the United Kingdom

The Buyer, provided he meets the requirements described above, has a period of 14 days from the receipt of the object or Lot to decide whether to maintain the purchase (cooling off period). During the period of 14 days the Buyer can cancel the purchase without giving any reason for its cancellation.

If the 14-day cooling off period begins during or after the services have been provided by ARTBID, ARTBID reserves the right to charge the Buyer a fee of 10%, which is subject to VAT at the legal rate.

As stated above, the said period of 14 days starts on the first day after the receipt of the purchase (object), or, if the purchase consists of one or more objects, or of several items, it will start on the day of the last delivery or on the day the last item was delivered.

The Buyer may request cancellation of their purchase before receiving it, during the Auction and after its completion. If the Buyer wishes to cancel the respective purchase, he/she must fill in and submit electronically and through the website www.artbid.pt, the model of free withdrawal form or any other unequivocal statement of withdrawal. If you make use of this legal capacity, ARTBID will send you an acknowledgement of receipt of the resolution request, the request being dependent on its approval, which will be communicated to the email address indicated by the Buyer.

If the Buyer requests cancellation of the purchase and the object is in his possession, he will have to bear all direct costs for its return, including transport costs and postage. If the object, by its size, volume, weight, or other circumstance, cannot be returned by the Buyer, the Seller will have to collect it, at the address indicated by the Buyer, under the conditions to be agreed between Seller and Buyer, it being understood that ARTBID will not be responsible for the transport and collection of any object, not intervening in any possible dispute or litigation that may occur.

If the object is in the possession of ARTBID, once the purchase is cancelled by the Buyer, the Seller must pick up the object at the premises of ARTBID, within a maximum period of 14 days from the confirmation of receipt of the form of free resolution, presented by the Buyer.

During the cooling off period, if the object or lot is already in the possession of the Buyer, the latter shall preserve, pack or handle the object in the appropriate conditions, so that the objects are returned in the same condition in which they were delivered and so that they cannot be devalued. The Seller may claim the reduction of the value of the object for reasons attributable to the Buyer, it being understood that ARTBID cannot mediate this claim, nor have any intervention in the resolution of any dispute.

The object including all accessories that were also delivered, must be returned to the Seller, without undue delay, and at the latest within 14 days after receipt of the ARTBID free withdrawal and approval form. The Buyer must return the object in the condition in which it was delivered and in its original packaging.

If the object is not returned within 14 days of the approval of the Buyer's cancellation request, ARTBID may withhold the refund until it receives the returned object, or provides proof of its shipment, whichever is earlier.

If the object is returned within 14 days and there are no problems related to transport or damage, the Buyer will be refunded the Sales Price and the relevant Purchase Commission.

If the Seller proves that the object has been damaged, the Sales Price shall be paid to the Seller. Should this occur, the Seller must contact the Buyer to claim a partial refund of the Sales Price, or contact the carrier to claim all caused damages and losses.

The right to repentance portrayed above does not apply to certain items which, taking into account their characteristics, may not be returned.

The objects concerned are: (i) items which are produced, worked on or manufactured for a specific person; (ii) items which deteriorate rapidly; (iii) items which have been sealed, the seal of which has been tampered with or which cannot be returned for reasons of health and hygiene; (v) alcoholic drinks; (iv) all items which the Buyer has seen before bidding.

DISPUTES BETWEEN USERS

The users of the online platform must settle between themselves any judicial or extrajudicial dispute which may relate to the services provided and used through the online platform.

Nevertheless, ARTBID will make every effort to mediate any situation between Seller and Buyer, being that, for this purpose, any complaint presented should be forwarded to ARTBID as soon as possible and in the terms defined in the respective contractual conditions.

Where disputes cannot be overcome or resolved, you agree that ARTBID may decide to reimburse the Buyer or pay the Seller, safeguarding the fees due for services rendered, the decision being based on all available information and consideration of any possible agreements made between Buyer and Seller. Without prejudice to the decision that may be taken by ARTBID, the Seller and the Buyer may exercise all their rights, including lodging their respective claims, if they do not agree with ARTBID's decision.

CONTRACTUAL CONDITIONS OF THE SELLER

Registration on the online Platform

To access the online Platform, the Seller must register as a personal or professional Seller. In this regard, additional identification information may be requested, such as a copy of the identification document, bank account number, telephone contacts, address or the location of the lots for sale, as defined in the Privacy and Personal Data Protection Policy, which can be accessed through www.artbid.pt.

If you are using the Platform to sell professionally, you must comply with the applicable tax regulations and legislation and provide all information that is requested and required when registering.

If you are registered as a professional Seller, we remind you that you must comply with the Terms and Conditions to terminate the contract and/or exercise the right to withdraw, giving any Buyer the right to cancel their purchase.

If you are not registered as a professional Seller, but we have reason to believe that you are using the online Platform in a professional manner, ARTBID has the right to consider you and register you on the Platform as a professional Seller for all future sales made through your Account.

The Sellers undertake to comply with all their legal and tax obligations. Professional sellers are obliged to provide ARTBID with a valid VAT identification number, even if they reside outside the European Union.

Placing of Lots at Auction

Once you have registered as a Seller, you can submit the Lots for Auction, and ARTBID will determine the suitability of the Lot and decide which Lots are suitable to be sold on the Online Platform.

ARTBID requests a Lot description and complete, clear and exhaustive information should be provided for each Lot. The information must include a complete and accurate description of the Lot, information on the condition and classification of the Lot, three or more clear photographs accurately representing the current condition (including defects, deficiencies, even if caused by normal use), characteristics of each Lot, reserve price and indication of the actual shipping costs (if applicable). The photographs of the Lot may also be processed by ARTBID, and will be charged according to the price list in force.

On the other hand, the Seller, whether personal or professional, is obliged to inform ARTBID about the ownership title of all the items that make up the Lots, namely under what title the items were acquired, and their respective provenance, ARTBID reserving the right to request the presentation of documents proving ownership of the same.

The personal or professional Seller is responsible for the correct description of the Lot and may make changes and/or additional comments to the description of the Lot before the start of the Online Auction.

The personal or professional Seller guarantees that he is the legitimate owner of the items that make up each Lot or that he is legally authorised by the owner to sell them on the online platform, and that they are free of encumbrances or charges and restrictions, in particular, regarding the ownership, use, fruition, transmissibility, including classification, inventory or listing by any official entity, or initiation of any procedure for that purpose, having, in any case, the duty to inform ARTBID about the possible inventory or listing of the items by the official entities. If, during the term of the contract, the Seller becomes aware of any procedure that may, in any way, lead to the listing, inventorying and/or seizure of the items, it must immediately inform ARTBID.

ARTBID catalog managers rate the Lots, as presented in the Online Platform, based on their catalog managerise and evaluation criteria.

Each Lot may be removed before the start of any Auction until they are published on the Online Platform and can be viewed by other users. Once published and viewed by other users, the Lot can no longer be removed and/or the conditions of the offer changed. If, by any chance, the Seller decide to remove the Lot after it has been published on the Online Platform, documentation proving why the Lot should be removed should be made available to ARTBID.

Contract of Sale and Purchase - Lots at Auction

The Buyer and the Seller of a Lot enter into a purchase and sale contract. When the Auction ends, the Seller automatically enters into a purchase and sale contract with the highest bidder (Buyer) of the Lot.

Fraudulent bids are not accepted and you are not authorised to bid on your own Lots or have an associated bidder bid on your own Lots.

While the Lots are available on the Online Platform, they must be exclusively offered and available here, and you may not promote your Lots on other channels or other Online Platforms. The user must therefore remove the Lots from the other online Platforms, or other web shops.

Each of the Lots is classified and positioned on the online Platform. The positioning and ranking of the Lots in the search results on the online Platform may vary and depends on several factors, such as the title and subtitle assigned to each Lot, the category name and respective translations, whether automatic or not.

When the Lot is sold, the Buyer is required to pay the Sales Price, transportation costs (if applicable) and the buying commission. As soon as the Buyer makes payment, the Seller will be informed so that he can send the Lot, arrange for hand delivery, or that the Lot will be picked up at ARTBID's premises.

In any event, and where the Lot(s) is (are) in the Seller's possession, it (they) must be dispatched within 3 days, at the latest, after confirmation of payment by ARTBID, unless the Seller has arranged for hand delivery of the Lot to the Buyer.

If the Seller chooses to agree the terms of sale and delivery directly with the Buyer, he must give his express and informed consent for ARTBID to make his contacts available to the Buyer

When sending the Lots it is recommended to use registered mail and insurance, being the Seller responsible for all damages or losses caused during the transportation of the Lots. Lots must be sent from the address registered and associated with the Seller's account, and if sent from a different address, the Seller shall bear all costs that would not be incurred if the Lot was sent from the address associated with the Seller's Account.

If there are difficulties with the delivery of the Lots, the Seller shall contact the Buyer. If there is any problem with the transport of the Lots, the situation should be resolved with the carrier, and regardless of the outcome of this process, ARTBID will decide whether or not the Sales Price will be refunded to the Buyer.

When the Lot(s) are in the possession of ARTBID, more specifically, at its premises, the Buyer must pick them up within a maximum period of five (5) days, under penalty of ARTBID being able to charge a penalty of € 1.00 per Lot and per day of delay in picking them up.

Overpaid shipping fees must be refunded to the Buyer by the Seller.

Payment of Lots

The Seller will receive the Net Sales Price (after deduction of the Seller's commission) after: i) the Buyer paying the Sales Price, plus the respective agreed commission, (ii) the transportation costs (if applicable), (iii) dispatch of the Lot or collection of the Lot by hand.

Once payment has been made under the conditions described above, ARTBID will send the Net Sales Price to the Seller within 20 (twenty) working days after proper payment by the buyer.

ARTBID may suspend payment to the Seller if it becomes aware of a possible dispute due to non-delivery or non-compliance of the Lot.

ARTBID may cancel the sale of the Lots if the Buyer does not pay the Sale Price within 10 (ten) working days after the closing of the Auction. Upon cancellation of the sale of the Lots, the Seller may decide to re-offer the Lots, or communicate directly with the Buyer to claim its rights.

Payments can be made by ATM, bank transfer, MBway, credit card, Paypal, or bank cheque, and the object(s) that make up the Lots will be available to the Buyer after payment of the Total Amount due.

Payment terms and conditions are governed by the payment operators or platforms used.

Sales Commissions

The Seller will pay ARTBID a Sales Commission of 20% plus VAT at the prevailing rate.

The Sales Commission will be levied on the Sales Price of the lots sold.

A photography and editing fee of € 1.00, plus VAT at the legal rate per Lot is added to the commission value, when applicable.

Cancellation of the sale

If the Seller cancels the sale, ARTBID reserves the right to charge a fee corresponding to 10% of the average between the two valuation estimates of the items removed from the online Platform, plus VAT at the legal rate, and all associated costs.

Failure to comply with the purchase and sale contract and the Contractual Conditions of the Seller

If the Seller does not fulfil its obligations towards the Buyer under the purchase and sale contract, the Buyer shall be entitled to rescind the purchase and sale contract, with the legal and inherent consequences.

Should the Seller breach the Contractual Terms and Conditions to which it has become bound, ARTBID may, at any time and at its discretion, (i) suspend payment of any refund due; (ii) set off any amount due to it against amounts that may be due to ARTBID.

In addition to the above, if the Seller's conduct is found to jeopardise the security of the online Platform, if it is found that negative or derogatory ratings have been repeatedly received, or if it has committed any illegality or failed to comply with any of the rules and procedures set out in these Terms and Conditions, ARTBID may:

(i) Temporarily or permanently limit the authorisation to bid for or sell Lots.

(ii) Temporarily or permanently limit access to the Account.

(iii) If you have not provided correct bank information, or contact ID following the request sent by ARTBID, ARTBID may refuse payments or refunds due.

(iv) If the Buyer cancels or cancels the purchase, for reasons attributable to the Seller, ARTBID may block the Seller's account, or block any future payment.

The Seller will be informed by email if any of the above actions are taken and the reason for the action taken will also be stated.

ARTBID may cancel the Seller Account for imperative or legally required reasons, in which case ARTBID will proceed to terminate the purchase and sale contract on behalf of the Buyer. In this case, cancellation of the Seller's Account must be communicated to the Seller thirty (30) days prior to the date of termination.

The cancellation of the Account, for any of the reasons described above, gives ARTBID the right to cancel all pending transactions.

The application of any of the above measures does not preclude ARTBID from taking legal action against the Seller.

Insurance

In cases where the objects that make up the Lots are deposited at the premises, or in the possession of ARTBID for sale in an Online Auction, ARTBID will provide, in the name and representation of the Seller, civil liability insurance for all objects in its possession at the time of sale. ARTBID shall bear the amount of said insurance premium, regardless of the nature or quantity of objects concerned. All objects insured by ARTBID have a deductible of 10% of the Reservation Value, whereby any compensation will always have that deductible as reference and application.

In cases where the objects that make up the Lots remain in the possession of the Sellers, the civil liability insurance is their responsibility, ARTBID being exempt from any liability arising from damage, loss, theft or robbery of the objects in question.

Changes to the Contractual Conditions of the Seller

ARTBIT may amend or supplement the Contractual Conditions of the Seller at any time. When this occurs, an email will be sent to the email address registered in the user's account to subscribe and accept the new contractual conditions. If you continue to use the online Platform, after being notified, you irrevocably accept and agree to the new applicable Vendor Contractual Conditions.

If the Seller does not wish to accept the new Seller Contractual Conditions, he/she must inform ARTBID within 10 (ten) days after receiving the notification, and he/she may stop using the online Platform, without any cost or penalty.

CONTRACTUAL CONDITIONS OF THE BUYER

Purchase and sale contract

The Buyer and the Seller enter into a purchase and sale contract, whereby, if the buyer´s bid is the highest at the end of the Auction, he/she will be considered the Buyer and will automatically enter into a purchase and sales contract with the Seller of the Lot, without prejudice to any rights of preference exercised by official entities and under the terms legally applicable.

If the Seller sets a Reserve Value and their bid is lower than the Reserve Value, a purchase and sale contract will not be concluded.

Registration on the online Platform

The Buyer must register on the online platform, and must provide a set of information necessary for the implementation of the purchase and sale contract, such as name, tax identification number, address, email and contact number, being also bound to compliance with these Contractual Terms and Conditions.

By registering on the online platform and using our services, the Buyer expressly and irrevocably accept these contractual terms and conditions.

Payment of Lots

If the Buyer has reached the Reserve Value and has the highest bid, he shall be the Buyer of the Lot concerned.

Once the purchase of the Lot is formalised, the Buyer shall pay, within 5 (five) working days, counted from the sale date, the (i) Sales Price; (ii) transport costs (if applicable), (iii) Purchase Commission.

If payment is not made within the time limit indicated above, ARTBID reserves the right to resell at Auction or out of Auction, the Lot not purchased by the Buyer. This being the case, the Buyer shall not be entitled to the payment of any compensation or indemnity.

In any event, the ownership title to the purchased Lot shall not pass to the Buyer until the Buyer has paid the Total Outstanding Amount.

Purchase Commission

The Seller will pay ARTBID a Purchase Commission of 15% plus VAT at the prevailing rate.

Delivery or collection of Lots

At most auctions, the Seller will send the Lot sold to the address associated with the Buyer's Account, but he/she may, however, collect the Lot by hand, by arrangement with the Seller.

For this purpose, the Buyer must ensure that the address associated with his/her Account is correct.

Any Lot must be sent by registered post, or any other means by which its location can be obtained and traced.

If the Buyer chooses to agree the terms of sale and delivery directly with the Seller, he must give his express and informed consent for ARTBID to make your contacts available to the Seller.

If there is any problem with the delivery of the Lot, the Buyer must resolve the matter directly with the Seller, and the mere signature confirming receipt of the Lot makes it a presumption that the Lot has been delivered and that the contract has been fulfilled.

Nevertheless, the Buyer is obliged to inform ARTBID within three days if he has received the purchased Lot and if it is in the agreed conditions, after which, the payment of the Net Sales Value to the respective Seller is made. If the Buyer does not inform ARTBID within three days, ARTBID reserves the right to make payment of the Net Sales Value, under the conditions provided for in these General Terms and Conditions.

If the Buyer wishes to collect the Lot by hand, he must organise and schedule directly with the Seller, and hand delivery must be made within 5 (five) days after the closing of the Auction, unless another deadline is agreed with the Seller. If the Lot is not collected, the Seller will have to arrange directly with the Buyer for its delivery.

ARTBID may cancel the transaction if the Seller does not ship the Lot. If the Lot is not in accordance with the conditions, indications and obligations set out in the Contractual Conditions of the Seller, ARTBID may, at its discretion, inform the Seller and instruct him/her to make the necessary rectifications. If the Seller does nothing, or does not rectify the existing non-conformities, the Seller agrees and accepts that ARTBID will cancel the transaction. After cancellation of the transaction, the Buyer can exercise his rights with the Seller, without any intervention or mediation by ARTBID, and ARTBID cannot be held liable for any damages or losses caused by the Seller's breach of contractual obligations.

The Lot(s) in ARTBID's possession may be picked up by the Buyer at ARTBID’s facilities within 5 (five) days. If the Lot(s) are not picked up within the period defined herein, ARTBID reserves the right to charge a penalty of € 1.00 per Batch per day of delay for pick-up.

Failure to comply with the purchase and sale contract and the Contractual Conditions of the Buyer

If the Buyer does not fulfil its obligations towards the Seller under the purchase and sale contract, the Seller shall be entitled to rescind the purchase and sale contract, with the legal and inherent consequences.

If the Buyer fails to comply with the obligations under these Contractual Terms and Conditions, ARTBID may cancel the transaction and hold the Buyer liable for all damages and costs incurred, and the Buyer will be bound to pay the Seller Commission Amount that ARTBID will lose due to the cancellation.

In addition to the above, ARTBID may, at any time and at its discretion, decide to (i) suspend payment of the refund; (ii) withhold payment from the Buyer; (iii) offset any amount ARTBID may be owed against outstanding amounts the Buyer may have.

In addition to the above, and whenever the Buyer is in breach of these contractual Terms and Conditions, or has repeatedly received negative or derogatory ratings or comments, or where it is necessary to protect the information shared on the Online Platform, ARTBID may take any of the following actions:

(i) Temporarily or permanently limit the authorisation to bid for or sell Lots.

(ii) Temporarily or permanently limit access to the Account.

(iii) If the Buyer has not provided correct or complete information - bank or personal details - any payment, including refunds, may be withheld by ARTBID, or any payment may be refused

If the purchase agreement is terminated or access to your Account is suspended while you still have certain obligations to the Seller, ARTBID may cancel the transactions, and terminate the Sales Contracts.

ARTBID shall not be liable to the Buyer for any Lot which, for any reason attributable to the Seller, or any third party, becomes the subject of third party claims or demands including seizure, whether provisional or final, by the competent authorities, irrespective of the date on which the complaint, claim or seizure thereof was determined or effected, and irrespective of the nature or amount of any damage, loss or data which to the Buyer may arise therefrom, which shall be claimed by the Buyer directly from the Seller or third party.

If a Lot is an original work of art, the artist may be entitled to receive royalties on resales, based on applicable copyright law. Should this be the case, the Buyer will have to refund the party who paid the resale royalty to the artist or the artist's representative. The refund will include the full amount of the resale royalty and any associated costs, expenses, fees or taxes, in accordance with the following scale, never exceeding € 12.500,00:

a) 4% on the sale price whose amount lies between €3,000 and €50,000

b) 3% on the sale price whose amount lies between €50,000 and €200,000

c) 1% on the sale price whose amount lies between €200,000.01 and €350,000

d) 0.5% on the sale price whose amount lies between €350,000.01 and €500,000

e) 0.25% on the sale price of which the amount exceeds €500.000,01

Contractual Alterations of the Buyer

ARTBIT may amend or supplement the Contractual Conditions of the Buyer at any time. If the alteration occurs during or pending the Auction, the alterations shall be immediately available for consultation by the Buyer. By continuing to use the online platform, the buyer expressly and irrevocably accepts all changes to these Contractual Conditions.

COMPLAINTS

ARTBID makes the complaints book available online at the following email address www.artbid.pt. The online complaints book does not dispense with the existence of a physical complaints book, available at our facilities, for all our Customers and users of the online Platform.

ARTBID is obliged to respond to any and all complaints within a maximum period of 15 (fifteen) days, in accordance with the regime provided for in Decree Law No. 74/2017 of 21 June.

The reply to the complaint will be sent to the Customer's email address and to the competent authorities.