to represent the bidder by the ART INVEST GROUP auction company at the 22th Fine Art auction held on 10 November 2018 in Bratislava under the following terms and conditions:
The represented person shall determine the work of art to be auctioned on his behalf by stating its catalog number and the description in the form.
The represented person shall determine the maximum price – the price limit to which the work of art shall be auctioned.
The represented person accepts that the power of attorney to represent the person at the auction shall be made no later than 24 hours before the auction and is subject to a deposit agreement with the auction company. It is required from the person represented (the bidder) to pay the deposit when signing the power of attorney to represent the bidder. In the event of an unsuccessful bidding, the auction house shall return the deposit to the bidder by return.
If the represented person is late with payment of the total amount auctioned for such work more than 14 days, the deposit shall be forfeited in favor of the auction house as an equivalent of costs for auctioning and lost profits .
The bidder is obliged to prove his/her serious interest and intention to participate in the auction, and bid for the offered item/s. He/she shall properly and timely pay for the item including the commission to Art Invest Gallery and take over the item. The bidder is also obliged to pay the auction principal of 1000 EUR / in words: one thousand euros / to the account number of Art Invest IBAN: SK 4102000000002517632851, SWIFT: SUBASKBX together with the Bidder registration. In case of failure to pay for the items auctioned, for any reason or without giving any reason, this principal shall be taken by Art Invest as the contractual fine within 14 day period from the bidding. In case of his/her unsuccessful bidding for the item/s, the principal shall be returned to the bidder. The bidder expressly agrees with the unquestionable right of the Art Invest gallery to this contractual fine in the above amount. He/she proves his/her irrevocable consent by paying the principal of EUR 1.000 EUR to the Art Invest account. The above arrangement does not apply to the bidders who had duly paid for and took over at least one auctioned item in the past.
I authorize the company ART INVEST GROUP to represent me at the 22th Fine Art Auction held on 10 November 2018 in Bratislava and to bid for the following works of art on my behalf.