THE ANNUAL NORWEGIAN EDVARD MUNCH SALE

Conditions of Purchase

Catalogues

Grev Wedels Plass Auksjoner (GWPA) prepares catalogues containing photographs and descriptions of all lots to be auctioned. Great emphasis is placed on ensuring that the information given is exact and as complete as possible.

Auction Estimates

The catalogue’s auction estimates are based on market evaluations and serve as a guideline for potential buyers.

Reserve Price

Some of the lots on auction may have a reserve price. Normally the reserve price is below the lowest value of auction estimate printed in the catalogue.

Customer Services (CS)

CS handles all written bids handed in prior to the auction. With several written bids on the same lot above seller’s reserve price, CS will bid on behalf of the highest bidder. CS ends bidding just above the second highest written bid, and will apply for buying the object at the lowest price possible. If only one written bid exists, CS will bid on behalf of the bidder on the lowest possible sum above the seller’s reserve price.

Guarantee

GWPA is responsible for the correctness and layout of the catalogue. During preview, the buyer has the opportunity to view the object and its condition, and condition reports for all lots are available on request. GWPA can therefore not accept any claims from buyers not taking advantage of the examination facilities offered. Any complaints must be put forward no later than 30 days after the auction date.

How does the bidding take place?

I. REGISTRATION

Buyers will normally register before they make a bid. Registration may take place during the preview, immediately before or during the auction. If registered, a customer is not required to sign a receipt for the purchase of each individual lot in the course of the auction. Registered customers have eight days of credit.

II. BIDDING

When registering one receives a numbered paddle that is held up when making a bid. Bids may also be made without a numbered paddle. The bidding increments are decided by GWPA, as explained below. The final bidder, who purchases the lot, must keep the numbered paddle raised until the auctioneer confirms the number of the buyer. If two final bids are equal, the auctioneer will decide who is the winning bidder. If any doubt is raised about who has the last bid, the auctioneer will decide if bidding should be redone. The bid is binding for the final bidder when the object is hammered.

III: WRITTEN/COMMISSIONED/ORDERED BIDS

A buyer can sign up for one or several written bids prior to the auction. CS at GWPA bids on behalf of the buyer and will bid according to normal procedures in the audience during the auction. CS will make every effort to buy the object at the lowest price possible, if necessary, the amount stated in the written bid. The auctioneer will during the auction notify if any written bids are pre-registered for the lot. If there are several written bids on the same lot, bidding will begin above the next highest of these bids. All written bids will be treated with the highest confidentiality, and must be handed to GWPA no later than the day before the auction. For two bids on the same bidding amount, the bid handed in first will have priority.

IV. TELEPHONE BIDS

GWPA CS are pleased to offer assistance to buyers wishing to bid by telephone. When bidding by telephone, CS will call up the bidder and establish contact in reasonable time prior to the lot going for sale. Registration to bid by telephone must be received in writing by GWPA no later than one day prior to auction.

V. BIDDING BELOW RESERVE PRICE

If minimum price is not reached during the auction, the auctioneer can accept lower bids at the acceptance of the seller. All the same, GWPA reserves the right to sell the object to a bidder raising to minimum price after the auction. Bids with the reservation of the seller’s acceptance are in that respect binding for the buyer, but do not give the bidder any special rights.

Costs

In addition to the final bid price comes the buyer’s premium of 20%, which includes payment of tax and commission fee.

Payment, pickup and delivery

Registered buyers bidding with numbered paddles or written bids have eight days of payment credit. Buyers not bidding with numbered paddles are required to pay cash during the auction, or register after the auction in order to qualify for the eight-day payment credit.

Lots must be picked up eight days after the auction, unless special arrangements are made. Payment must be registered on our client account before lots are released.

Set bidding increment intervals for Grev Wedels Plass Auksjoner

• For bids up to NOK 5.000,- each bid increases by NOK 200,-
• For bids between NOK 5.000,- and NOK 20.000,- each bid increases by NOK 500,-
• For bids between NOK 20.000,- and NOK 40.000,- each bid increases by NOK 1000,-
• For bids between NOK 40.000,- and NOK 100.000,- each bid increases by NOK 2000,-
• For bids between NOK 100.000,- and NOK 200.000,- each bid increases by NOK 5000,-
• For bids between NOK 200.000,- and NOK 500.000,- each bid increases by NOK 10.000,-
• For bids between NOK 500.000,- and NOK 1.000.000,- each bid increases by NOK 20.000,-
• For bids between NOK 1.000.000,- and NOK 3.000.000,- each bid increases by NOK 50.000,-
• For bids above NOK 3.000.000,- each bid increases by NOK 100.000,-