Buyers
1 - General terms for in-person and on-line auction trading – Buyers1.1 – Company information
“Potássio Quatro, Lda”, VAT nº PT505825961, headquarter at 16 Navegantes St. 1200-731 Lisboa, further referred to as “P4” or “P4LiveAuctions” is the auction promoter for both the on-line auctions conducted in www.p4liveauctions.com and in-person auctions taking place in selected salerooms.
1.2 – Buyers’ identification and registration
1.2.1 In-person auctions
a) A previous registration is needed to bid in “P4” auctions upon which a bidding paddle is given.
b) Name, address, telephone number, fax, e-mail and other information are requested to fill in the registration form.
c) The buyer acknowledges and accepts the general terms for trading in auction by signing the registration form.
d) The bidder is considered to bid for himself unless he’s given a mandate to represent a third party.
1.2.2 On-line registration
a) The user registered on-line at www.p4liveauctions.com “accepts” totally and unequivocally the present general terms and the specific conditions for on-line registration.
b) The “user’s email” combined with the “password” given by “P4” will unequivocally identify the registered user through any operation performed in the website.
1.2.3 “P4” holds the right to refuse entrance in the firm headquarters and exhibition and salerooms to anyone considered of unreliable conduct.
1.3 – Bidding
1.3.1 “P4” is allowed to bid for any property or lot on behalf of others that have specifically asked for it and it’s obliged to execute the agreement held between parties.
1.3.2 Only those who fit the present general terms are allowed to bid except otherwise considered by “P4”.
1.3.3 “P4” will declare the property sold in auction to the registered buyer offering the highest bid. The auctioneer has the authority to resolve any query occurring during the auction and may repeat the bid starting from the amount that caused the query in order to dissipate it.
1.3.4 P4 reserves the right to refuse entrance in the saleroom to anyone of unreliable behaviour. It is also the company’s decision to accept or reject any absentee bid.
1.3.5 P4 will accept absentee biddings sent by fax, email or delivered in person up until 24 hours before the auction.
1.3.6 On-line bidding (P4BidOnline system)
1.3.6.1 P4LiveAuctions enables potential buyers to bid and participate in real time on “P4” auctions, through the Internet at http://www.p4liveauctions.com/bidonline.
1.3.6.2 For each auction, “P4” will provide previously registered users a paddle number to access the system and bid online.
1.3.6.3 The online “auction room” may be disconnected at any time without prior notice, if, at a given time, the necessary conditions are not met.
1.3.6.4 “P4” reserves the right to put on sale only lots previously selected.
1.3.6.5 Online bidding obliges the user just as regular bidding at the auction house and obey to the same set of terms and conditions like regular bidding.
1.3.6.6 The message “SOLD TO YOU” on the online bidding interface of the user indicates that a given lot was sold to him.
1.3.6.7 Only the auctioneer has the right to accept or decline online bidding.
1.3.6.8 Lot closing and selling is managed using the information available at the auction house system computers. “P4” is not responsible for delayed bids/messages caused by the conditions of Internet traffic and connections availabe throughout the auction.
1.3.6.9 Bids Bellow Reserve - If the auctioneer decides that any opening bid is bellow the reserve of the article offered, he may reject the same and withdraw the article from the sale, and if, having acknowledged an opening bid, he decides that any advance thereafter is insufficient, he may reject the advance.
1.4 – Property condition
Property is placed in auction in the same condition it’s in.
1.5 – Property exhibition
1.5.1 The property placed in auction will be exhibit in public for 24 hours minimum, either through new on-line information systems or locally in the selected saleroom for the auction.
1.5.2 All interested persons have free access to this public exhibition without the need of a previous registration.
1.5.3 Access to on-line exhibition is made through www.p4liveauctions.com website or at a previously determined place.
1.6 – Buyer’s Premium
This is the amount of money automatically added to the “hammer price” and paid by the winning bidder.
* in person: 19% (excluding VAT)
* Internet: 22.5% (excluding VAT)
In addition, the buyer must pay all applicable Tax’s.
1.7 – Payment
1.7.1 The full payment of the property sold is made according to the previous clause within 24 hours after the auction in the selected saleroom or the firm’s headquarter.
1.7.2 The buyer will be penalized with a 10 euro/day tax over each lot purchased in case terms referred in clause 1.7.1 are not fulfilled.
1.7.3 Immediately after the bidding “P4” may claim from the registered buyer the payment of no less than 30% of the hammer price declared for the purchased property.
1.7.4 “P4” reserves the right to cancel the sale of property that has not been paid with the total amount declared according to the previous clause within 30 days after the auction. The buyer in debt will not be entitled to any compensation whatsoever and will lose all amounts paid in advance or for any other purpose.
1.7.5 Property registration transference on behalf of the buyer will occur after payment is confirmed available.
1.8 - Property collection
1.8.1 “P4” reserves the right to refuse collection of property purchased in case full payment estimated according to the previous clauses is not available.
1.8.2 Delay on the collection of property may be penalized with a 10 euro/day tax over each lot purchased.
1.8.3 Collection of property should always be made by the buyer himself or his representative with a legal mandate.
1.9 – Property description
“P4”’s property descriptions are merely nominative and therefore considered correct. It’s up to the buyer to seek for a specialist’s examination in case he finds it necessary.
1.10 – Publishing rights
“P4” reserves the right to use and publish by all means and for all purposes both the image and description of all the property placed in auction.
1.11 – Present terms change
“P4” holds the right to change the present buyers’ general terms which is made by previous publication through the new information and promotion systems in www.p4liveauctions.com website or at the selected saleroom for the auction.
1.12 - Export/Import permits
Buyers should always check whether an export licence is required before exporting. It is the buyer´s sole responsibility to obtain any relevant export or import licence. The denial of any license or any delay in obtaining licences shall neither justify the rescission of any delay in making full payment for the lot. P4, can advise buyers on the detailed provisions of the export licensing regulations and will submit any necessary export license applications on request. However, P4, cannot ensure that a licence will be obtained. Portuguese Law may prohibit the export/import of same property.
1.13 – Only the court of Lisbon and no other has the authority to conduct any issue resulting from the present buyers’ general terms or any other non-referred issue.