Send us an email: biuro@awers-art.pl

RULES OF THE AUCTION HOUSE AWERS-ART

1. GENERAL PROVISIONS:

These regulations specify in detail the conditions for joining the auction and conducting auctions of objects entrusted to Awers-Art Sp. z o.o. purpose of sale.

2. DEFINITIONS:

The following expressions used in the regulations should be understood:

a) Dom Aukcyjny - Awers-Art Sp. z o.o. ul. Prószkowska 83/1, 45-758 Opole,
NIP: 754-334-74-38
KRS: 0000945378
REGON: 520961910

b) Price:

- Starting date - this is the amount from which the bidding begins

- Obtained - the highest bid obtained after the scheduled end of the auction

- Reserve - this is the minimum amount agreed between the author of the work and the Auction House, and not greater than the lower estimate for which the author agreed to sell the work

- Purchase - it is the total amount that the Buyer is obliged to pay after the end of the auction, non-negotiable. It includes an auction fee of 20% of the final price of the object (also in the case of Post-Auction Sale). The purchase price includes VAT (the auction house issues a VAT-margin invoice).

c) Estimation - an indicative amount, given after a market analysis, that should be achieved during the auction

d) Agreement - a purchase and sale agreement concluded between the Auction House and the Buyer after the end of the auction

e) Buyer - the person with the highest bid submitted at the end of the auction

f) Seller - a person submitting the subject of the auction for sale

g) Participant - a person participating in the auction (must be registered)

h) Subject of the Auction - a digital token (NFT) created from an object created by the Seller. The uniqueness consists in creating a single copy in the process of creating a digital token from the presented object, the authenticity and originality is confirmed by a certificate signed by the author of the object, attached to the object.

i) Post-Auction Sale - Sale for a specified amount without an auction, in the event that the Reserve Price or the Starting Price has not been reached, agreed between the Seller and the potential Buyer.

j) Digital token (NFT) - A digital unit, a unique cryptographic token that represents an asset. All token transactions are logged on the delocalized Blockchain network.

k) Regulations - means these Regulations of the Awers-Art Auction House.

3. AUCTION AND TERMS OF PARTICIPATION

a) Only a person who has an account on the Auction House website may become an Auction Participant, after positive verification of his identity and submission of the necessary declarations, including the obligation to comply with the provisions of these Regulations.

b) After registration, the Auction House will send a link to verify the identity, the submitted data is only at the disposal of the Auction House in accordance with the adopted Privacy Policy, and is only used to verify the accuracy of the data.

c) Each Participant is required to have a virtual wallet that supports NFTs created in the ERC721_STANDARD (Ethereum) technology.

d) The Auction House reserves the right to refuse to participate in the auction without giving any reason, about which the User will be informed.

4. AUCTION

a) The Auction House conducts an online auction in real time, the end of which is strictly defined
(date and time of the end of the auction). The work is put up for auction at least 10 days before the scheduled end of the auction.
All information related to the planned auctions is available on the Auction House website in the "News" tab.

b) The condition for participation in the auction is positive verification during registration. The Participant shall be notified of a positive verification prior to the start of the auction.

c) The Auction House is not responsible for any difficulties on the part of the Participant related to the Internet connection, and in particular due to the inability to bid due to a failure or loss of Internet connection.

d) The offer at the end of the auction is binding, the offer submitted before the end of the auction may not be withdrawn or changed by the Participant in any way other than breaking the submitted offer by another Participant.

e) The Auction of the Subject of the Auction is conducted on the basis of an agreement between the Auction House and the Seller.

f) The subject of the auction is not purchased if the value of the Reserve Price has not been reached, unless the parties reach an agreement in the form of Post-Auction Sale.

g) The conclusion of the sales contract with the Buyer takes place immediately after the end of the auction, in accordance with the provisions of Polish law, in particular the relevant provisions of the Civil Code.

h) All content related to the auctions is published only on the website of the Auction House in Polish. The Auction House will also make every effort to publish the content related to the auctions in English.

i) The Auction House applies the following steps:

Price range Action
2.000zł – 5.000zł 200zł
5.000zł – 10.000zł 500zł
10.000zł – 25.000zł 1.000zł
25.000zł – 50.000zł 2.000zł
50.000zł – 100.000zł 5.000zł
100.000zł – 300.000zł 10.000zł
300.000zł – 800.000zł 20.000zł
> 800.000zł 50.000zł

5. AUCTION SUBJECT

a) Descriptions of auction items are prepared and verified by a person with appropriate knowledge and experience in the field of art history, supported by publications and professional work.

b) In special cases, the Auction House may withdraw or terminate the auction without giving any reason.
In this case, there is no winner.

6. PAYMENTS AND RECEIPT OF THE AUCTION SUBJECT

a) The digital token (NFT) from the presented object is created by the creator of the Work and sent to the Buyer's virtual wallet indicated during registration. In addition, the authorship is confirmed by a relevant declaration of the creator confirming the authenticity of the Digital Token (NFT) up to 5 business days, after the amount of the Purchase Price is credited to the Auction House's bank account.
The Buyer is obliged to pay the entire Purchase Price within 10 working days from the end of the auction. Any transfer or currency conversion costs shall be borne by the Buyer.

b) The Auction House maintains accounts in the following currencies: Polish zloty, euro and US dollar. If you wish to pay with a different currency, the Auction House should be notified by e-mail.
For payments made in a foreign currency, the currency exchange rate at the Auction House bank applies.

c) The Auction House reserves the right to pursue the performance of the contract in court and to repair the damage suffered in connection with the failure to perform it.

d) The Auction House does not accept returns of the Auction Items, if there is no discrepancy related to the detailed description of the Auction Item.

7. COPYRIGHT

a) Acquisition of ownership of a digital token (NFT) by auction does not transfer any moral or property rights to the Work to the Buyer.

b) With a digital token (NFT), the Buyer also receives a declaration of the creator of the Work, confirming the authenticity of the acquired digital token (NFT).

c) The buyer of the digital token (NFT) is only entitled to dispose of it regardless of the will of the creator of the Work and without prejudice to the Work itself.

8. FINAL PROVISIONS

a) The Regulations enter into force on 1 January 2022.

b) Amendments to these Regulations are made by publishing the content containing the changes to the Regulations on the website of the Auction House, together with an indication of the date of entry into force of the amendments.

c) The Auction House is obliged to collect and store personal data of Buyers whose transaction for the Object of the Auction exceeded EUR 15,000 in accordance with the Act on counteracting money laundering and terrorist financing described in the Privacy Policy.

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