By participating in this Auction, you acknowledge that you are bound
by the Conditions of Sale as listed below and on the Website.
Artiana's role as the agent of the Seller: Artiana undertakes to sell
the Properties through Auction as the agent for and on behalf of the
Making a Bid constitutes an irrevocable offer to purchase the
Property and the acceptance of a Bid as the Winning Bid by Artiana
shall result in an enforceable contract of sale between Artiana, acting
solely as the agent of the Seller, and the Winning Bidder.
Artiana is authorised by the Seller to exercise its complete
- determining the form and content of the Descriptions in the
granting bidding access to a Bidder,
- recording, rejecting or accepting Bids, and
- deciding which Bid constitutes the Winning Bid, if any.
(Bidding access shall be given at Artiana's discretion and Artiana may
set limits on the total value of all Bids made and/or the number of
Bids that may be made by a Bidder. Artiana may also require payment
guarantees and/or deposits as a condition precedent to giving bidding
access to a Bidder. Bidders will be informed of the limits on the total
Bid value and/or the number of Bids that they may make, if any, and
will not be allowed to bid further if either of such bidding limit has
been exhausted. Bid updates and time extensions, if any, shall be
updated on the Website and Mobile Application. On both, the
Website and the Mobile App, Bidders may refresh their bidding pages
by clicking on the “Refresh Now” icon or the re-load/refresh buttons
on their browsers, where applicable. Artiana shall evaluate the bid
histories of specific Lot Groups periodically to preserve the efficacy of
the Auction process. This exercise may be conducted by Artiana
internally or through third parties solely at the discretion of Artiana.)
For the convenience of Bidders, particularly those who are placing
Bids on more than one lot, Lot Groups are scheduled to close at 20
minute time intervals during the Auction.
The Bidding for various Lot Groups shall be closed in accordance
with the Bid Closing Schedule. However, in the event that Artiana
records any bidding activity in the 5 minutes prior to the closing of a
Lot, the Closing Time for such a Lot shall be extended by 5 minutes
from its originally scheduled Closing Time. The Closing Time shall
continue to be extended in 5 minute increments for any subsequent
bidding received in the 5 minutes prior to the closing of such Lot.
In the event that the Closing Time is extended in accordance with
this Clause, bidding on the Lot shall only end if no bidding activity is
recorded by Artiana during the last 5 minutes of extended time.
Bidders are advised to click on the “Refresh Now” icon on the
Website page or in the Mobile Application at regular intervals in
accordance with the provisions of Clause 2.5 for updates on latest
Bids and time extensions if any.
The Website shall contain a link titled “Lots I Bid On” within the
page “Current Auctions” and the Bidder may click on this link to
access information on all Bids made on various Lots. For ease of
tracking Bids, Bidders are advised to assign bidding nicknames to
The Website and Mobile Application shall contain:
- The Bid history for each Lot, being the last 5 Bid amounts that
have been recorded until and including the current highest Bid; and
- A countdown clock indicating the amount of time available for
placing Bids before the Closing Time.
The Bid history, current Bid, and countdown clock shall be accurate
at the time of downloading of those values, provided that such
information has not changed during the time taken for this
information to reach the Bidder's computer or mobile device from
the Artiana Server. The most updated Bid values shall be shown only
when the Website page or the Mobile Application page containing
the information on Bid values is refreshed; which shall happen either
automatically at regular intervals (Every 5 minutes prior to one hour
before the closing time of the first Lot/Lot Group and every 1
minute within the last hour of the closing time of the first Lot/Lot
Group and shall continue refreshing every minute till the close of the
last Lot/Lot Group) or when a Bidder clicks on the “Refresh Now”
icon on the Website page or in the Mobile Application page.
When the countdown clock counts down to zero, in the case where
the Closing Time with respect to a particular Lot has been extended
by a further 5 minutes pursuant to Clause 2.4 above, the countdown
clock may not reflect such extension. As such, the Bidder may wait
for the values on the page to refresh automatically on the Website, or
click on the “Refresh Now” link on the page or in the Mobile
Application to determine whether the Closing Time has been
extended for that lot.
The countdown clock combined with the current highest Bid as
shown in the Bid history on the Website shall only be an indication of
the highest Bid amount at the time when the values on the Website
or Mobile Application were refreshed in the manner set out in Clause
2.5 above. Should bidders want more frequent updates, they are
advised to refresh values as described in Clause 2.5 in order to view
the most updated Bid history and countdown clock.
Due to the nature of Internet and/or mobile traffic, there may be an
unpredictable time lag between a Bidder placing a Bid, and that Bid
being received by Artiana. Therefore, although a Bidder may have
placed his/her Bid prior to Closing Time, Artiana may receive the Bid
after the Closing Time for the Lot with respect to which the Bid has
been placed and shall, in such an event, be rejected. In order to
prevent Bids being rejected in such a manner, Bidders may set Proxy
Bids/Maximum Bids for Lots on which they wish to Bid.
Written/Absentee Bids may be recorded with Artiana 12 hours prior
to the first Closing Time, subject to the other provisions of these
Conditions of Sale, including any limits imposed by Artiana on the
number of Bids that might be placed by a Bidder.
Bidders are advised to keep their Artiana ID and password secure
at all times. Artiana will hold the Bidder responsible for all bids placed
using their Artiana ID and password, whether via the Website or a
mobile device. Bidders using the Mobile Bidding Application are
advised to keep their mobile devices secure and set passwords for
them to prevent unauthorized use.
Artiana reserves the right to withdraw any Property before, during or after the Auction, if it has reason to believe that the authenticity of the Property or the accuracy of the Description is in doubt, or if there is a breach of the Terms of Business, or in the case of error or dispute, or if Artiana otherwise believes, at its sole discretion, that it would be improper to include the Property in the Auction, and can during or after the Auction continue the bidding, determine the successful Bidder, cancel the sale of the Lot, or re-offer and resell any Lot.
All Properties shall be sold subject to the Reserve Price. If the
Winning Bid is below the Reserve Price, the Property shall be
considered unsold except in such case where the Winning Bid is a
Proxy Bid and the maximum limit on the Proxy Bid either matches
or is higher than the Reserve Price. In such cases the Property shall
be sold at Reserve Price to the Proxy Bidder. The Reserve Price on
each Property shall be confidential and Artiana shall have no
obligation to disclose the same to any Bidder.
Artiana will invoice the Buyer for the Sale Price (Hammer Price/Winning Bid Price), VAT (if applicable) and any additional charges that may be incurred by Artiana or is applicable on the sale, including shipping and handling of the Property.
The title to the Properties purchased in an Auction shall pass to the Buyer at the Closing Time subject to the conditions in clause 2.7 for those Properties where a Buyer holds the Winning Bid and said Buyer assumes full risk and responsibilities for the Properties thereafter. Properties purchased will not be released or shipped out to the Buyer or his representative until the Buyer has fulfilled his payment and other obligations as described in these Conditions of Sale. Artiana may exercise a lien on the Properties under the conditions described in clause 2.17.
Bidding Increments will be calculated as shown in the Bidding
Increment table below.
|USD 1,000 to USD 2,000
||by USD 100
|USD 2,000 to USD 4,000
||by USD 200
|USD 4,000 to USD 10,000
||by USD 500
|USD 10,000 to USD 20,000
||by USD 1,000
|USD 20,000 to USD 40,000
||by USD 2,000
|USD 40,000 to USD 100,000
||by USD 5,000
|USD 100,000 to USD 200,000
||by USD 10,000
|USD 200,000 to USD 400,000
||by USD 20,000
|USD 400,000 to USD 1,000,000
||by USD 50,000
|USD 1,000,000 and upwards
||by USD 100,000
The Auction is conducted in United States Dollars (USD) and, for any transaction in other currencies, the exchange rate will be calculated as per the sheet rate of the bank specified by Artiana on the date of either receiving the funds from the Buyer or remitting the funds to the Seller. In the case of payments for purchases being made in UAE Dirhams (AED), a standard conversion rate of 1 USD = 3.675 AED will apply.
All Bidders are required to provide complete and accurate invoicing details to Artiana at the time of registration for the Auction. Invoicing details, once registered, will not be changed. The Bidder shall be invoiced based on details provided at the time of registering for the Auction. For any and all transactions from Rest of World except the UAE invoicing and/or payments are processed by Artiana Limited a company duly incorporated under the RAK ICC Business Companies Regulations 2016 bearing registered number IC20120900; and for any and all transactions from within the UAE invoicing and/or payments are processed by Artiana Limited a company duly incorporated under the Dubai International Financial Centre bearing registered number 2249.
The Winning Bidder shall pay the Sale Price in full (including
any additional charges, if applicable) within seven business days from
the Closing Date. No shipment or delivery of the Property will be
made to the Winning Bidder if the Sale Price, and any other
additional charges that may be payable by the Buyer, are not received
by Artiana and until all proper documentation in connection with the
sale of the Property has been completed. Payments will not be
accepted from any parties other than the Winning Bidder as recorded
on the invoice.
The Winning Bidder shall ensure that invoices provided by Artiana are paid in full and all remittance of amounts due under said invoice is made within seven business days from the date of the invoice. In the case that payments are not received within such period, it shall be treated as a breach of contract of sale by the Buyer and, in such an event, Artiana is authorised at its sole discretion to cancel the sale upon expiry of this stipulated period of seven business days without being obliged to inform the Buyer of the same, and the Seller authorises Artiana to take any steps (including reporting the late payments, missed payments, or other defaults on the account to any credit bureau and the institution of legal proceedings), as deemed appropriate, to enforce the full or any differential payment due by the Buyer. In addition, the Buyer will be charged demurrage @ 2% of the total value (Winning Bid) per month until the date of actual payment.
Failure to collect
If the Buyer informs Artiana that he wishes to collect the Property
from Artiana in person and such Property is not collected by the
Buyer within 15 days from the auction closing date, Artiana shall
arrange for storage of the Property at the Buyer`s expense, and shall
only release the Property after payment has been made, in full,
including demurrage @ 2% of the total value (Winning Bid plus any
other additional charges, if applicable) per month and the charges for
storage of the Property, if any.
Artiana shall be entitled to exercise a lien on the Property for
payment of any sums receivable from the Buyer, including the Sale
Price and costs relating to storage and insurance where they are to be
borne by the Buyer, in relation to any Property purchased by the
Artiana reserves the right to not award the Winning Bid to the
highest Bidder at the Closing Date if it deems it necessary to do so.
The Buyer acknowledges that Artiana will abide by any export
restrictions that may apply in the countries from where specific
Property(ies) will be shipped. The Buyer shall also be responsible to
ensure that the Property(ies) is freely importable into the country
where such property(ies) are intended for delivery (as specified by the
Buyer). In the event the Buyer or Artiana become aware of any
restrictions to such import subsequent to the completion of the
Auction, the Buyer may provide an alternate delivery destination to
Artiana. (Such restrictions on import of any Property/Lot purchased
by a Buyer shall not qualify as grounds for the Buyer to cancel such
sale under any circumstances). All costs associated with the process of
delivery and storage (when required) of the Property(ies) shall be borne
by the Buyer. The Property(ies) shall be handed over to the Buyer, or
his nominee, only upon full payment of all such costs.
Artiana has the right to exercise reasonable discretion in setting
bid increments as per Clause 2.11 or otherwise, refusing any bid,
advancing the bidding, withdrawing or dividing any lot, combining
two or more lots; and in the case of error or dispute, during or after
the sale, determining the successful bidder, continuing the bidding,
cancelling the sale or reoffering and reselling the item in dispute. If
any dispute arises after the sale, then, in the absence of any evidence
to the contrary, the sale record maintained by the auctioneer will be
Written Bids are accepted from Bidders once they have been
given bidding access for the Auction. These are entered as Proxy Bids,
and may not be stopped or altered by the Bidder once the Auction
has commenced. Written Bids are accepted until twelve hours prior
to the first Closing Time.
Artiana employees may not bid in the Auction once the
Auction has started. They may however submit a Written Bid for an
amount that may be equal to or above the lower estimate of a Lot
before the Auction commences and have a Proxy Bid placed on their
behalf. Once the Auction has begun, they may only increase their
Artiana employees may bid in charity auctions that are held on
the Artiana Auction platform.
Sellers are not allowed to bid on the particular Lot(s) they
Artiana does not place or allow any Bids to be placed on behalf
of the Seller. All of the Bids recorded at Artiana are from registered
Once a Bid is registered in our system, whether placed by an
active Bidder or by Proxy, it is immediately and automatically
displayed for all registered users to see.
In the unlikely event that the Website is inaccessible to Bidders
worldwide due to Technical Downtime within the half an hour prior
to the scheduled Closing Time for any of the Lot Groups, the Closing
Time of that Lot group and subsequent Lot Groups will be extended
by the duration of the Technical Downtime. In case the Technical
Downtime extends beyond the Closing Time for a particular Lot
Group, the Website shall, after the Technical Downtime, show the
Auction for the particular Lot Group as closed. However, the Closing
Time for such Lot Group and subsequent Lot Groups shall be
extended by the duration of the Technical Downtime and appropriate
details of the extension shall be published on the Website shortly after
recovery from the Technical Downtime. Note that any malfunction in
the Mobile Application does not constitute Technical Downtime. In
the event of such malfunction, Bidders should use the Website to
Bids recorded prior to any Technical Downtime will be treated
as valid according to the Conditions of Sale. Artiana shall not be liable
for any loss of information due to the Technical Downtime. The data
logs of the Artiana Server will determine the duration of the
Technical Downtime and any determination made by Artiana in
respect of extension of the Closing Time shall be final.