p4liveauctions.com

2 - General terms for in-person and on-line auction trading – Sellers

2.1 – Company information
“Potássio Quatro, Lda”, VAT nº PT505825961, headquarter at 16 Navegantes, St. 1200-731 Lisbon EUROPE, further referred to as “P4LiveAuctions” or just "P4" is the auction promoter for both the on-line auctions conducted in www.p4liveauctions.com and in-person auctions taking place in selected salerooms.

2.2 – Selling contract

2.2.1 – Ownership property guarantee
Both P4 and the buyer must have the seller’s guarantee that he’s the legit owner of the property, assuring legal conditions to sell it.

2.2.2 – On-line and / or in-person auction
The “selling contract” between the seller and P4 will register the selling option of the property either to take place in the on-line auction at www.p4liveauctions.com or personally in a selected saleroom.

2.2.3 – Minimum estimated price
The minimum estimated price is established by agreement between the seller and P4 in the “selling contract”. P4 will previously conduct personal examination of the property.

2.2.4 – Seller’s commission
The commission rate due to P4 by the seller is applied on the hammer price as agreed in the “selling contract”.

2.2.5 – Payment of the amount due
P4 will provide payment to the former owner of the property purchased in auction, 35 working days upon the selling date and as long as the buyer has fully paid the amount due. P4 is also entitled to redraw the commission rate referred in the previous clause.

2.2.6 – Cancellation of the selling contract
P4 reserves the right to charge a tax of 30% of the minimum estimated price agreed on the “selling contract” in case the selling of a property should be cancelled. To this tax P4 will add all expenses resulting from publicity, marketing, packing and shipping.

2.2.7 – Insurance
P4 will provide insurance to cover eventual risks on the property taken to auction or if not the firm will take full responsibility for the lots assuring the minimum estimated price agreed on the “selling contract”.

2.2.8 – Publication and promotion rights
The agreement on a “selling contract” between P4 and the seller, gives the auctioneer the right to photograph, exhibit, promote, publicize the property as pleased, through printed samples or new information supports displayed in P4 www.p4liveauctions.com website.

2.2.9 – Property description
P4 is the single responsible for the description and layout of the property both in on-line and printed catalogues.

2.2.10 – Property rejection
P4 holds the right to reject property of non-reliable provenance or quality.

2.2.11 – Permission to redraw commission rate and other expenses
All expenses resulting from property in auction – publication, packing, transportation, restoration are the owner’s single responsibility which allows P4 to redraw the commission rate and expenses just referred.

2.2.12 – Selling terms change
These general selling terms can only change by mutual agreement between P4 and the property owner and as long as it’s registered in a written document.

2.2.13 – Only the court of Lisbon and no other has the authority to conduct any issue resulting from the present general terms or any other non-referred issue.

This set of terms and conditions is part of the General terms for present and on-line auction trading, published in www.p4liveauctions.com website and in P4's auction catalogues.