Auction Guidelines – RAA&M Annual Art Auction
CONDITIONS OF SALE – PLEASE READ [Printable Version]
1. The purchase price for all property sold shall include the hammer price, plus a buyer’s premium: 15% for in-house cash/check sales, 18% for in-house credit card and absentee bid sales, and 23% for online bidders. All hammer prices (excluding premium) are subject to the Massachusetts 6.25% resale tax, unless the buyer has a valid tax exempt certificate. For more information contact the Massachusetts Department of Corporations and Taxation, 100 Cambridge Street, Boston, MA 02204.
2. Payment must be made at the end of the auction, and all items must be removed. The RAA&M reserves the right to hold objects until checks are cleared.
3. The buyer assumes complete responsibility for items at the fall of the hammer.
4. All items are sold “AS IS” and all sales are final. It is the responsibility of prospective bidders to examine lots and decide their level of interest. Neither the auctioneer, nor the consignors, nor the RAA&M are responsible for the accuracy of any printed or verbal descriptions. Please note that when estimating the value of these works the auction committee did not remove the work from its frame.
5. Left bids (Absentee Bids) may be left with a staff member prior to the auction, and will be executed by the RAA&M. To leave an absentee bid, you must complete the required form and return the signed form to us by mail, email or in person by 6 PM on Friday, May 3rd, 2019. Absentee bid forms submitted by email must be hand-signed, scanned and emailed as an attachment to firstname.lastname@example.org. The bid amount that you indicate on your absentee bid form is your maximum bid. We will use only those funds necessary to purchase the lot, unless you instruct us to start the bidding with your maximum bid. You may also leave a bid for “PLUS 1”, authorizing us to go one increment beyond your left bid, if the amount of your bid is equal to the last bid from the floor. You must specify this on your absentee bid form. Absentee bidders are responsible for shipping and packaging costs. Successful absentee bids require payment by credit card (provided to RAA&M in advance) with a buyer’s premium of 18%. The Absentee Bid Form may be downloaded from our website auction page. Please note: We do not accept phone bids.
6. The auctioneer reserves the right to reject an opening bid.
7. Some of the lots in this sale are offered subject to a reserve or minimum selling price. The reserve is a confidential minimum price agreed upon by the consignor and the Rockport Art Association & Museum, below which the lot will not be sold. The reserve will be set at or below the low end of the estimated range. Whether or not a lot is subject to a reserve, the auctioneer may reject any bid or raise not commensurate with the value of such lot.
8. Items may be withdrawn at any time prior to the offering of each lot.
9. The auctioneer has the sole right to settle disputed bids and to decide whether or not to re-offer the lot.
10. The record of sale kept by the RAA&M will be taken as final in the event of any dispute.
11. All measurements given refer to the actual canvas, board, image size or, in the case of graphics, plate size only. All measurements are in inches.
12. All works are framed and signed, unless otherwise noted.
13. The Rockport Art Association & Museum is not responsible for any errors or omissions in the auction catalog.
Work should be previewed in advance.
Bids will also be accepted online via www.LiveAuctioneers.com. Online bidders must register with LiveAuctioneers and provide the RAA&M with a valid credit card number by Friday, May 3rd at 2 PM (24 hours prior to the auction) to be approved as an online bidder.
Auction Bid Increments
Price: ($0 – $500) / Bid Increment: $25
Price: ($500 – $1,000) / Bid Increment: $50
Price: ($1,000 – $2,000) / Bid Increment: $100
Price: ($2,000 – $5,000) / Bid Increment: $250
Price: ($5,000 – $10,000) / Bid Increment: $500
Price: ($10,000 – $20,000) / Bid Increment: $1,000
Price: ($20,000 – $50,000) / Bid Increment: $2,000
Artwork Description Notes
Prices Realized: The selling price for each work of art is posted to the online catalog after the auction and includes the hammer price and buyer's premium.
Estimates: Catalog descriptions for each auction lot include an estimate range that was placed during the Auction Committee's review of the artwork.
Artist Signatures: If artwork is unsigned, the artist will be listed in the catalog as an attribution (Attrib. to), even if the work is estate stamped.
Artwork Condition Terms & Definitions*:
EXCELLENT – Works of art in excellent condition are free of scratches, paint loss and major cracking. For work on paper: there should be no scratches, foxing or water damage. For sculpture: work is free of dents, cracks, losses, erosion and pitting. Artwork is not examined out of the frame.
VERY GOOD – Works of art in very good condition may have minor abrasions, slight scratches, minor cracking, minor repairs, slight foxing or a small amount of surface dirt. For sculpture: work may have slight dents, cracks, losses, erosion or pitting. Artwork is not examined out of the frame.
GOOD – Works of art in good condition may have repairs, small tears, cracking in paint or finish, foxing, paint loss, and/or other damage that in some cases has been professionally restored. For sculpture: work may have dents, cracks, losses, erosion and/or pitting. Artwork is not examined out of the frame.
* Information provided by the Rockport Art Association & Museum (RAA&M) pertaining to the condition of any artwork is for the buyer to use or interpret as he or she sees fit. It is in no way a guarantee, nor should it be considered an expert opinion. All artwork is sold “as is” and prospective buyers are strongly encouraged to personally view and evaluate the condition of the property offered for sale.