The incremental amount is predetermined based on the current high bid on the item. The following table shows the amount of bid increments.
Conditions of sale:
1. Központi Antikvárium as Auction House organises, handles and conducts the auction on behalf of the vendors, and acts as a commercial agent.
2. The lots called up are presented in succession as in the catalogue. The auctioneer announces the catalogue number and the starting price of the lot and buyers indicate their wish to bid by raising their card. The buyer offering the highest bid shall win the lot at the hammer price, except for protected lots, when Hungarian libraries and museums have a priority to purchase the lot at the hammer price.
3. The purchase price includes the hammer price and 16,5 % auction fee. The buyer shall pay the purchase price or 20 % of it in cash immediately after the auction. In case the full purchase price is payed after the auction, the bought item can be handed over to the buyer.
4. The Auction House allows a 14 day grace period to pay the balance between the deposit and the full purchase price. The buyer can take possession of the item only if the full purchase price has been payed. The amount of the deposit will be included in the purchase price if the said timeline has been observed. The Auction House reserves the right to consider the bid of the buyer null and void and keep the deposit if the buyer fails to take over the item within the 14 day period.
5. The bid item may not be reauctioned unless the identity of the buyer is impossible to establish.
6. No seller may bid, nor may any third party bid on the seller’s behalf in order to reach an unreasonably high price and thus inflict loss on any other party.
7. All the lots are exhibited for inspection prior to the auction. The descriptions and illustrations in the catalogue are only for identification. Each bidder is responsible for inspecting the condition of the lots prior to the auction, and for deciding if it is in accordance with the description in the catalogue. All the lots are sold without warranty with all the imperfections they may have at the time of the auction.
8. The items auctioned may not be sold under the starting price in the catalogue. The Auction House will not bear any liability in respect of the bid or the purchase price paid, and may not be compelled to reoffer the same item or market it at any time at the same price.
9. No protected item – their number shall be made public by the beginning of the auction – may be taken abroad, and their owners will be registered by the museums. Owners are expected to report any change of ownership. The Auction House is liable to report the data of the owners of protected items to the Office of National Heritage (507. §/IV/1959; 13. §/CXL/1997).
10. For absentee bids the auctioneer may be commissioned by the buyer to bid on his/her behalf. You may submit your bid
¾ by mail or personally in the Központi Antikvárium (H-1053 Budapest, Múzeum krt. 13-15.),
¾ by fax at (00361) 266 1970,
¾ by e-mail: email@example.com
National museums and libraries may submit their bids officially without an advance payment, which (20 % of the bid) is required of all other buyers. In case of an unsuccessful bid, the advance payment will be returned to the buyer in full after the auction. In case of a successful bid the amount will be regarded as a deposit.
11. Unsold items may be reauctioned after the auction upon request.
12. The Civil Code shall govern any matter unregulated in the present Conditions of sale. Should any dispute arise, the parties accept the competence of the Municipal Court of Budapest.