AKIHABARA AUCTIONS (Conditions of Consignment and Sale)
Akihabara Auctions Conditions of Consignment and Sale The following Conditions of Consignment and Sale are Akihabara Auctions Inc. and the sellers’ entire agreement with the buyers regarding selling and buying properties through Akihabara Auctions which is conducted by Akihabara Auctions Inc. Before consigning your property as a seller or participating in our auction as a buyer, please read the Conditions carefully and acknowledge that you are bound to these Conditions. Any consigner, bidder, and those who conclude a contract of sale with us are subject to our conditions except for cases where a separate contract with us has been already concluded. In this case, the former agreement will be prioritized.
If you wish to participate in an auction, you must register in advance. Without registration, you will not be able to enter the auction room or to participate in online, written or telephone bidding.
There are two types of registration.
From our website, you will need to fill out a registration form and provide personal identification documents.
You may complete the application form and send us your identification documents via mailing, e-mail, or fax. Persons who have registered in advance shall obtain confirmation of their registration at the reception desk on the day of the auction.
Obtaining catalogue and registration can be accepted in advance or at the registration counter on the day of auction. We, however, have the right to refuse accepting registration at our complete discretion without notifying any reason.
Obligation to report the truth
The Seller must provide us with all information to the best of his/her knowledge concerning the name of Any use of materials or other commercial exploitation of any kind on this catalogue without our permission is strictly prohibited. artist, title, size, signature, medium, circa, condition, catalogue number, provenance, attachment and so on. If we find intentional forgeries with regard to such information before auction we have the right, at our complete discretion, to withdraw the Lot from sale and return it to the Seller at any time. If such Lot with incorrect and forged description, which we could not find at the examination procedure before the auction, has been sold, we or/and the Buyer have the right to cancel the contract for sale, return the Lot and ask full compensation for any costs or expenses incurred by the forgery information or/and concealed defects and faults. We have the right to take legal action against the Seller in both cases.
We undertake to sell by Auction, in our own name, works of art and other items (“Lots”) that have passed our screenings and are applied for consignment for sale by Auction to us. Screenings shall be conducted at our discretion, and consignment of Lots may be refused. We shall not be responsible for publicizing screening standards and methods.
Condition of Objects
Because of their nature, Lots are not new, and accordingly, are sold in as-is condition. We bear no liability whatsoever for Lot stains, damage, or other defects or flaws.
Our role and Seller’s commission
Our sales at Auction are undertaken as agent, on behalf of the Seller. And through our mediation and Auction Conditions, the contract for the sale of the Lot will be concluded between the Seller and the Buyer and will be settled according to this contract. Calculated by reference to Hammer price, we shall charge 20.0% Seller’s commission of the Hammer price and tax of each Lot. If an agreement has been made between us and the seller, the condition takes precedence. Please note that we shall have complete discretion and no obligation to disclose the information as to which persons should be admitted to the auction, and as to which bids should be accepted since we hold a public auction.
Our specialists will examine a prospective seller’s property through the information and photos and estimate the property based on recent prices realized for similar objects, the current state of Japanese market, rarity and conditions. We give a prospective seller a free verbal or written auction estimate via phone, fax or email. If a prospective seller agrees with our estimate, we will proceed to consignment procedure. Please note that any estimate given, orally or in writing, is a matter of our opinion only at that moment and is not an assurance in relation to the price the work for consignment will eventually fetch.
Prospective sellers can set a reserve price in Japanese yen below which the Lots cannot be sold. The consignment commission will be deducted on basis of the reserve price from the hammer price. The reserve price cannot be set when the lower estimate is below 30,000JPY and it cannot be above our lower estimate. We, however, have the right to refuse the consignment in case of uncompromising discrepancy between our estimate and the desirable selling price requested by a prospective seller. It is impossible to amend the reserve price without our agreement.
Selling below the Reserve price
Although we will make every effort to sell the Lot above the Reserve price if the price is agreed, we shall in no circumstances be liable if bids are not received at the level of the Reserve price. We, however, shall be entitled to sell the Lot below the Reserve price. If we do so, we shall be obliged to account to the Seller as if the Hammer price was equal to the Reserve price by compensating the discrepancy.
Withdrawal of the Lot
After the agreement of consignment, the Seller may not withdraw the consigned Lot from sale without our consent. The seller must pay 5,000JPY as cancellation fee in case of withdrawal after this date due to agreeable reasons if our lower estimate price is less than 50,000JPY or Nariyuki and 15.0% of our lower estimate price if the Lot is estimated 50,000JPY or more. The cancellation will not be accepted until we have received the cancellation fee. If the fee is not received by us by 24 hours before the sale, we shall be entitled to sell your items at the designated auction.
If any Lot unsold at designated auction we will continue trying to sell the Seller’s property for 2 weeks as “AFTER SALE PERIOD” based upon agreed reserve price. When such “after sale” finally proved to be unsuccessful we will consult the Seller whether to withdraw or resell at auction or privately. whether to withdraw or resell at auction or privately. The Seller will bear the cost of packing and shipping in case of withdrawal. We shall offer free storage of 14 days after the auction in case of withdrawal of the Lot. If the unsold property remained uncollected without prior arrangement, we are entitled to transfer them to the warehouse following the sale. A storage fee required by paragraph (8)-5 will be payable by the consignor until its collection. It is consignor’s responsibility to insure the property during this period
Expenses of the seller’s responsibility
The Seller will bear all costs relating to:
Packing and shipping the Lot to us for sale and from us in case of unsold.
Any applicable insurance from the date of shipping to the settlement of the contract for sale or to the date of returning to the Seller in case of unsold.
Any examination by external appraisal institution that we believe necessary.
Any certificate of authenticity issued by right appraisal institution.
Any restoration and framing of the Lot.
Storage of the Lot after the auction date. (for large-scale items, the daily price is 5,000 yen, while for other items, the daily price is 3,000 yen: excluding tax)
An online catalog will be created for viewing auction listings, and a catalog will be posted on the website each time an auction is held that lists all items and the details.
Illustrations in Catalogs are to be used for reference purposes only, and are not an accurate representation of Lot characteristics such as color, shape, and condition.
Descriptions and explanations stated in Catalogs (including the artist’s name, title, materials, restoration work, signature, size, year and place of production, appraisal, provenance, and literature) are provided by us and are included only as a reference for Prospective Buyers, etc.
A price estimate indicated in Catalogs do not include our Premium (excluding tax). It is a price that we believe to be appropriate based on the current market for the Lot and other factors. These estimates do not bind the actual auction sale prices.
Prospective Buyers, etc. shall, by themselves or through their agents or representatives, bid on Lots base on their own judgment and at their own responsibility. We shall not bear any liability whatsoever regarding the information in Catalogs, including illustrations and descriptions, except when otherwise expressly stated in these Conditions of Auction.
Changes in Catalog Entries
Descriptions and explanations in Catalogs are subject to change without notice. Such changes may be communicated by written postings at our website or orally by an auctioneer immediately prior to the commencement of the Auction.
Editing Catalogue and copyright
We shall have the complete discretion regarding photograph, description, how to arrange coverage for the Lot, numbering and listing order of the Lot in Catalogue and have the right to use them in whatever way we see it. No Sellers can be allowed to inspect them in advance. The copyright in all photographs, illustrations and descriptions in Catalogue is and remain at all times our property and shall not be used by anyone without our prior permission.
Our estimate price is merely our opinion based on the current market conditions and other factors of the Lot. it should not be relied on as a statement that this price is either the price at which the Lot will sell or its value for any other purpose. However, unless otherwise agreed between us and the seller, the price should not be below the estimate which was set forth in the sales contract.
We may, at its sole discretion, hold exhibitions (“Viewings”) prior to Auctions to give Prospective Buyers, etc. an opportunity to examine Lots.
Admission is free, but persons who wish to attend a Viewing may be asked to present identification.
We may refuse to access to, or demand exit from, Viewings at its discretion without providing a reason. In such cases, speedy compliances shall be expected.
Prospective Buyers, etc. may observe and examine Lots at Viewings, but shall not do any of the following without our prior approval.
Touching Lots or other exhibit items, walls, or cases
Eating, drinking, or smoking
Other actions forbidden by us
We shall not bear any liability whatsoever concerning the differences in the condition of the Lots between the time of a Viewing and delivery.
All items damaged by the participants during the Pre-auction Viewing are on the participants’ responsibility, and are required to pay the amount of the intermediate price of the estimates.
Extent of liability for condition
Many items are of an age or nature, which preclude their being in perfect condition, and we will make reference to damage and/or restoration in this Catalogue or by other means of condition report when we find such defects. We provide this information for guidance only and the description of “being in good condition” or absence of such reference does not imply that an item is free from any defects or restoration nor does a reference to particular defects imply the absence of any others. The condition of the Lots (with or without frame, general condition, defects) described on the catalogue is not complete. Please note that we are unable to get rid of misprints completely. Prospective buyers, therefore, are strongly advised to examine personally any Lot in which they are interested at pre-sale viewing. Prospective buyers are responsible for satisfying themselves concerning the condition of Lots and the matters referred to in the Catalogue description and making bid on the basis of their own judgment. We will not accept any cancellation of sales contract because of the difference between Catalogue description and real state of the Lot.
Only registered participants or official representatives can make bid although auction room is open to visitors.
Our Auction takes place on our own auction room or premises over which we have complete control for the sale. We have the right, at our absolute discretion and without notifying any reason, to refuse to allow any person to participate in our auction and to refuse admission to our premises. MA shall have right to make sound and visual recordings of the auction room for preventing problems and auction room maintenance
We may, at its sole discretion, make bids on behalf of a Sale Consignor until the Reserved Price is reached or exceeded. Such bids may be made through an Auctioneer or by other methods at our discretion.
Auctions shall be conducted by an Auctioneer who receives increasing bid amounts for the item in question. Such bid amounts shall not include our Premium or consumption taxes. If an Auctioneer determines that a bid amount is not appropriate for any reason, the Auctioneer may choose not to accept that bid.
We shall not release the Sale Consignor’s name or the Reserved Price. However, this shall not apply when we decide, at our discretion, to release this information with the consent of the Sale Consignor.
Auctions shall be conducted in the order of the Lot numbers described in the Catalog. However, we may, without prior notice, withdraw planned Lots from an Auction, divide multiple Lots with the same Lot Numbers into a single Lot for Auction, at our sole discretion.
Auctions shall be conducted at the discretion of the Auctioneer who shall determine the opening bid and the bid increment. Even if a Reserve Price is set, the opening bid shall not be bound by the Reserve Price, and the final sale price may be above or below the Reserve Price.
Multiple persons under the same account name shall not jointly make bids.
Bids shall be made at the site of an Auction by raising one’s paddle or gesturing (such as gesticulation, hand gesture, and facial expression). If a Prospective Buyer’s bid is not noticed by the Auctioneer, they must take immediate action to attract the attention of the Auctioneer. We shall not be held responsible should an Auctioneer fail to recognize a bid.
If there are several bids that exceed the estimates due to pre-bidding, the competition may start at a price that is within or above the minimum, maximum or maximum of the estimates.
Bids shall be deemed void in the following circumstances:
If a higher bid is made (including bids made by us on behalf of Prospective Buyers, etc.);
If an Auctioneer refuses to accept a bid;
If the bidding ends without reaching the Reserve Price; or
If the Auction is suspended.
An Auctioneer shall call out the highest bid price recognized and accepted by the Auctioneer three or more times and shall then strike the hammer. When the Auctioneer strikes the hammer, a purchase and sale contract is formed between the person (if the person is an agent or a representative, its principal who is a Prospective Buyer (the same shall apply hereafter)) with the highest bid (“Successful Bidder”) and us for purchase of the Lot at that price (“Successful Bid Price”)
If the Prospective Buyer, etc. who made the highest bid withdraws the bid before the Auctioneer strikes the hammer, the Auctioneer may, at its discretion, designate the person who submitted the highest bid as the Successful Bidder or may designate the person who submitted the next highest bid as the Successful Bidder.
In the event of a dispute concerning the Auction, an Auctioneer may, at its discretion, resolve the dispute, and all concerned parties must comply with the decision of the Auctioneer.
Before the auction, you can log in from our website and you can participate in pre-bidding online.
Pre-entrusted bidding (in writing onto our Bid form)
fill out the required items in the “Absentee Bidding Form” found in our website and send it to us by e-mail or fax so that it arrives by two days before the auction.
Bid on the day of auction (In person, Online, and Telephone Bidding)
Admission to auction room
Once you log in to our website, you can participate in our auction online. However, you will not be able to participate unless we have verified your registration, so please notify us by e-mail the day before. Even if you have already registered, you will need to apply for each auction.
Fill out the required items in our Telephone Bidding form found in our website. The applicant may mount to the designated phone number and report the intent to bid to our staff in charge of telephone bidding. Our staff will bid on behalf of you at the venue. We will bear no liability to either the Seller or any prospective buyers as a result of failure to do so because of the following reasons: interrupted telephone lines due to technical issues, or unable to reach the prospective buyer at the very moment of your registered Lot.
Please be aware that we have only a limited number of telephone lines available, so there is a large number of applicants for telephone bidding, we will accept them on a first-come, first-served basis.
Buyer’s price and payment deadline
The Buyer must pay us Buyer’s price in full within 14 days after the sale date. Buyer’s price is the total amount of the Hammer price, buyer’s premium (15% of the Hammer price) and tax. If the buyer failed to meet the payment deadline, clauses defined in (7)- “Our rights and remedies for non-payment” shall be applicable to the Buyer. You may not be able to participate in our auction in the future.
Payment by credit card
If you wish to take home your items on the day of the auction, we will only accept card payment, but you will need to pay an additional card fee (4.0%).
Transfer to our bank account
We issue an invoice to the Buyer within 2-3 days after the sale and the buyer must make remittance accordingly to our bank account by bank transfer within 14 days. (Buyers are responsible for remittance charge). Please note that payment by transfer is not be deemed as to have been completed until we are in receipt of cash or cleared funds.
Collection of purchases
The Buyer may acquire title to the Lot after making remittance of the total amount due and this is the settlement of a contract for sale.
The Buyer shall collect the Lot either on the spot of our auction room or at our depository or arrange shipment of the purchased Lot, at the Buyer’s expense and responsibility.
We may arrange packing and shipping as the Buyer’s agent. Although we shall suggest carriers, we cannot accept liability in this respect.
We shall retain purchases for 14 days after the next day of the sale whether or not payment has been made.
Where purchases are not collected within this period, unless we specifically agree to the contrary, we have the right to arrange external storage at the Buyer’s risk and expense.
A storage fee will be payable by the purchaser.
It is purchaser’s responsibility to insure such Lots during this period.
The buyer shall pay the storage fee set forth below for products whose collection deadline has expired, and shall be responsible for the risk burden.
Storage fee for large-scale items must be paid with a daily value of 5,000 yen (excluding tax), and for the other items must be paid with a daily value of 3,000 yen (excluding tax).
Overseas shipping of Endangered Species
Prospective purchasers are advised that certain property sold at auction may be covered by CITES (the Convention on International Trade in Endangered Species of Wild Fauna and Flora) or other restrictions upon exportation and importation to another country and the items made of or incorporating materials such as ivory, crocodile, tortoise shell, bone, fur, animal skin, coral and etc. cannot be exported out of Japan. Those properties must be collected on the spot of our auction room or transported to the address in Japan.
Claims from third party after he sale
We, the Seller, the Buyer agree that Japanese Civil Law and Law of Curio Dealing have exclusive jurisdiction to settle any dispute in case of claims or/and rights to pledge from the third party that both we and the Seller could not predict or investigate before the sale.
Our rights and remedies for non-payment
If the Successful Bidder does not pay the Purchase Price, etc., the following provisions shall apply.
The successful bidder must pay late payment fees amounting to 14.6% per annum on the unpaid amount of the Purchase Price, etc.
If the Successful Bidder does not pay the Purchase Price, etc. even after a warning from us, we may, at its sole discretion, cancel the purchase and sale agreement; however, if the warning sent to the Successful Bidder is returned because the recipient is not present or not available or if the Successful Bidder refuses to accept the waring, we may, at its sole discretion, cancel the purchase and sale agreement without warning. The purchase and sale agreement shall be deemed to be canceled at the time that the notice of cancelation was sent to the Successful Bidder.
If the sales contract is terminated in accordance with the above subparagraph, we may sell the Lot to a third party either by auction or a privately negotiated contract, in which case no reserve price shall be placed. In such a case, should the aggregate sum of the sales price by auction or sale contract, the buyer’s premium and the consumption tax thereon be less than the original purchase price, the defaulting bidder shall pay the Company the difference, and the damages for delay, at an annual rate of 14.6% from the day of that auction or conclusion of the sales contract until the amount is paid in full. On the other hand, if the price is higher than the original purchase price, the defaulting bidder shall not make any claim whatsoever on the difference.
We will try to eliminate the handling of counterfeit lots with our expert staff, expert judges, and the appraisal authority regarding the authenticity of products handled, but we cannot guarantee that they will not be completely excluded. The bidder shall make bidding under their discretion and responsibility at the previewing day.
Within 1 year after the sale, the successful bidder shall make any claim within three months (in cases in which the Consumer Contract Law is applicable, within one year) of the date that he learned that the Lot was not the work of the artist to whom it was attributed in the catalogue (an also must submit proof of that date in writing that in his view the Lot concerned is a counterfeit). A termination and refund shall be made only if the successful bidder is in complete ownership of the Lot and transfers the ownership in its entirely to us, and only if the Lot is returned to us in the same condition as it was at the time of the auction.
Commission of authenticity appraisal
Regarding authorship, we are entitled to choose a right and reliable appraisal institution, if available, to decide the authenticity at our own discretion according to following manner:
Paintings and other works of deceased artists: our designated appraisal institution affiliated with specialized art dealers, an official connoisseur of the artist or a specialized research institution (or person).
Paintings and other works of living artists: An artist himself/herself or an officially appointed connoisseur or a concerned person designated law.
No obligation of refund
We shall not be obligated to refund any amount if either
The Catalogue description or auction room notice at the auction date corresponded to the generally accepted opinion of the scholars or experts at that time, or fairly indicated that there was a conflict of opinions; or
It can be demonstrated that the Lot is a Counterfeit only by means of either a scientific process nor generally accepted for use of until after the publication of the Catalogue or a process which at the date of the auction was unreasonably expensive or incapable or likely to have caused damage to the Lot.
Entitled person to claim refund
The benefit of this guarantee of refund is not capable of being transferred, and is solely for the benefit of the person to whom the original invoice was made out by us in respect of the Lot when sold and who, since the sale, has remained the sole owner of the Lot without disposing of any interest in it to any third party and being capable of transferring title to us.
We shall not be liable to pay compensation for damages caused by a natural disaster, civil war, mayhem, or other unforeseeable circumstances not attributable to us.
In case of loss, theft, damage, or defacement of a Lot has occurred due to the intentional or negligent act or omission of us, where, we are responsible for storage of the Lot, we shall be liable for damages up to the minimum appraised value of the Lot. However, the amount of damages shall not exceed the amount of actual insurance paid based on any liability insurance agreement entered into separated by us.
In case other than those set forth in the preceding paragraph, we shall not be liable for damages except in cases of willful and gross negligence. The extent of damages in such event shall be limited to direct and ordinary damages.
We shall in no way be liable for any accidents to the Lot (including destruction, loss, theft, damage, or soiling) after the time of delivery (which shall mean the time at which we deliver the Lot to the successful bidder, to his agent or messenger, or to a carrier at us). Furthermore, we shall not be liable for accidents even when we select the shipping company or packages the Lot in accordance with the Successful Bidder’s wishes pursuant to instructions in the Shipping Instruction Form, regardless of the suitability of the shipping company or packaging. The Successful Bidder shall under its own responsibility and at its own expense insure the delivery of the Lot and handle packaging, etc.
When participants or seller fall under, or found to be applicable, we may refuse to register you to bid/consign, we may cancel the contract for sale between you and the seller/buyer.
An organized crime group (“Boryokudan”), a member of an organized crime group, associate member of an organized crime group (“Boryokudan jyunkoseiin”), a person who was a member of an organized crime group within the past 5 years, a company affiliated with an organized crime group (“Boryokudan kankei kigyo”), a racketeer attempting to extort money from a company by threatening to cause trouble at the general stockholders’ meeting (“Soukaiya”), groups acting as if advocating legitimate social causes (“Shakai undou hyoubou goro”), a special intelligence organized crime group (“Tokushu chinou boryoku syudan”), a person or organized equivalent to any of the above, A person whose purpose is to act on money laundering or other activities, A person who uses illegal or unfair methods, violent power, and deceptive techniques to engage in fund-raising activities.
A person who participates in our auctions with any anti-social groups, or who attempts to participate anti-social groups in our auctions by introducing.
A person or organization who operates an entity of which Board members pr people substantially involved in its management have socially condemnable relationship with Boryokudan, etc.
A person who uses threatening action or statements, or violent acts and behaviors in connection with any transaction between the parties.
A person who acts and behaves which may damage the credit or obstruct the business of the bank by the use of fraudulent means by force.
A person who does not comply with the provisions our company, such as our auction rules.
If we determine that there are any other unavoidable reasons listed in above, we may discontinue its transactions with any person who falls under such circumstances, and may refuse further transactions.
If, before the delivery of the Lot, a third party claims that the Lot is lost or stolen property of which he is the rightful owner and demands its restoration, or if it is discovered that the Lot is of a type whose sale or possession is prohibited by law, we may rescind the sale without notice. In any such case, if we has received payment of the purchase price, it shall refund the purchase price without interest, and the successful bidder shall not make any further claims against us, including any claim for damages.
If a chief of police or other authority orders us to retain the custody of Lots pursuant to Article 21 of the Antique Dealings Law and the last day of the retention period is after the last day of the Delivery Period, we shall not deliver the Lots until the end of the retention period. In this case, the phrase “within twenty (20) days from the date when the payment of the Purchase Price is completed” in Article 12, Paragraph 2 shall be read as “within three (3) days from the last day of the retention period ordered by the chief of police.” We shall not be liable for damages incurred due to the delayed delivery.
Revision of these Conditions of Auction
we may revise these Conditions Auction at its discretion. Persons and legal entities to which these Conditions of Auction apply shall comply with the revision. When we revise these Conditions of Auction, we shall post a notice on our website about the revisions made to the terms of these Conditions of Auction, the terms of the Conditions of Auctions after revision and the date when those revisions become effective.
Bidders at Suctions shall not assign their rights against or duties to us or their position under these Conditions of Auction, and shall not offer their rights or position as collateral, to a third party without our prior approval in writing (which may be given electronically).
These Conditions of Auction shall be governed by the laws of Japan.
The Consumer Contract Law
Where applicable, the Consumer Contract Law takes precedence over The Terms and Conditions. In addition, The Terms and Conditions shall be read and applied in accordance with other civil laws of Japan.
Court of Agreed Jurisdiction
The Tokyo District Court shall be the exclusive jurisdictional court in the first instance with respect to all disputes concerning these Conditions of Auction.
URL: https://akihabara-auctions.com Akihabara Auctions Inc.
Nibancho, Chiyoda-ku, TOKYO JAPAN 102-0084
Antique Dealer License No. : 301002216174
authorized by the Tokyo Metropolitan Public Safety Commission