Common use of THE AUCTION Clause in Contracts

THE AUCTION. a) In order to assure the proper organiza- tion of the auction, prospective buyers are invited to make themselves known to Artcurial SAM before the auction to register their per- sonal identification and information. Artcurial SAM will ask all prospective buyers to prove their identity as well as provide bank references, and will request a deposit. Artcurial SAM reserves the right to refuse admission to the auction premises to any pros- pective buyer for legitimate reasons. b) Any person who is a bidder undertakes to pay personally and immediately the hammer price increased by the costs to be born by the buyer and any and all taxes or fees/expenses that may be due. Any bidder is deemed to be acting on his own behalf except when prior notification, accep- ted by Xxxxxxxxx XXX, unless proof is provided that he is acting as an agent on behalf of a third party. The personal data that have been transmitted during the recording will be carried forward in the same way if no prior indications are otherwise given. c) The usual way to bid consists in atten- ding the sale on the premises. However, Xxxxx- xxxx XXX may graciously accept to receive some bids by telephone from a prospective buyer who has expressed such a request before the sale. Artcurial SAM will bear no liability / res- ponsibility whatsoever, notably if the tele- phone contact is not made, or if it is made too late, or in case of mistakes or omissions relating to reception of the phone call. For variety of reasons, Artcurial SAM reserves the right to record all telephone calls during the auction. Such records shall be kept until complete payment of the auction price, except claims. d) Artcurial XXX may agree to execute orders submitted before the auction and by Xxxxxxxxx XXX that have been deemed accep- table. Artcurial XXX is entitled to request a deposit that will be refunded within 72 hours after the auction if the lot is not sold to this buyer.