For the eleventh edition of Ornellaia Vendemmia d'Artista, the American artist Shirin Neshat has interpreted the character of Ornellaia 2016 - "La Tensione". The photographer, director and video artist uses her destabilising and poetic visual language to allude to the strength and dynamism of this vintage through the words of the illustrious 11th-century Persian poet Omar Khayyam. A central theme in "La Tensione" is wine as a moment of social sharing; a vital force which, in the words of the Persian poet, should be "enjoyed during our brief stay on this earth". The labels represent details of women's faces, hands and bodies, and are entirely covered in Farsi. The contrasts between the softness of skin and the graphic nature of the text seduce the eye and set the imagination running.
Proceeds from this online benefit auction of rare Ornellaia bottles will go to support the Mind’s Eye Program at the Solomon R. Guggenheim Museum.
To view a PDF of the full printed catalogue, please click here.
For assistance with bidding and registration, please contact:
+44 20 7293 5000
For sale enquiries, please contact:
Stephen Mould | Senior Director, Head of Sotheby’s Wine, Europe
+44 20 7293 5046
GUIDE TO BUYING IN AN ONLINE ONLY AUCTION
The following guidance is intended to give you useful information on how to buy in an Online Only Auction. We recommend that you read the guidance below carefully in order to familiarize yourself with the way that the Online Only Platform works before you start to participate in an Online Only Auction. It is also important that you read the Conditions of Business for Buyers (Online Only) which are set out below and note that Sotheby’s acts for the seller; you should refer in particular to Conditions 3 and 4 of the Conditions of Business for Buyers (Online Only). Terms defined in this Guide shall have the same meaning as in the Conditions of Business for Buyers (Online Only) unless the context otherwise requires.
1. REGISTER A VERIFIED ACCOUNT WITH SOTHEBY'S
In order to be eligible to participate in an Online Only Auction, you must have registered, and maintain, a Verified Account. The registration process requires you to enter your debit card or credit card information, your address and to confirm that you have read and accept our Conditions of Business for Buyers (Online Only), the Authenticity Guarantee and this Guide to Buying in an Online Only Auction. In order to bid in an Online Only Auction, you must be registered as a Verified Account holder prior to the closing of the first Lot in the relevant Online Only Auction in which you wish to bid (you will also be required to provide certain information to Sotheby’s as part of the application process). Further details about how to become a Verified Account holder are set out in Condition 5 of the Conditions of Business for Buyers (Online Only).
Once you have completed the registration process to become a Verified Account holder, you can sign into the applicable Online Only Auction using your own username and password. To log in to your Verified Account, please follow the login instructions provided at:
2. BROWSE THE LOTS FOR SALE IN THE ONLINE ONLY AUCTION
Once the relevant Online Only Auction has opened, the Online Sale Information regarding each Lot for sale in the Online Only Auction is available for you to review.
As indicated in the Conditions of Business for Buyers (Online Only), the Online Sale Information for each Lot includes pre-sale estimates which are provided by Sotheby's as a guide for prospective Bidders to assist them with determining the appropriate amount to bid for a Lot. In our opinion, any bid for an amount which is between the high pre-sale estimate and the low pre-sale estimate stated in the Online Sale Information for the Lot would offer a chance of success. Having said that, it is important you appreciate that Lots can realize prices which are above or below the pre-sale estimates. It is advisable to check the pre-sale estimates prior to submission of a bid. Please note that the pre-sale estimates which are stated in the Online Sale Information do not include buyer's premium, any applicable VAT (or any amount in lieu of VAT) or any applicable ARR.
Cataloguing of Old Wines and Spirits
Wines are catalogued as accurately as possible at the time of going to press including the levels. However, such levels may change between cataloguing and sales. This may be caused by the ageing of the cork or by a change in the temperature of the storage conditions or the shipment of the wine. Additionally, there is a risk of cork failure which must be taken into account by the potential purchasers. Purchasers must take into consideration the natural variations and conditions of cases, labels, ullages, corks, wines and spirits. Except as set forth in Sotheby’s Authenticity Guarantee, Sotheby’s is unable to accept returns.
Condition of Lots
The Online Sale Information includes the online catalogue description of the Lot; any online condition report provided in relation to the Lot by Sotheby's solely as a convenience (and the online images of the Lot shall be deemed to form part of any such condition report); any other information relating to the Lot or the conduct of the Online Only Auction which is published on the Online Only Platform (including this Guide to Buying in an Online Only Auction).
All Lots are offered for sale in the condition which they are in at the time of sale in an Online Only Auction. Any reference to condition in the Online Sale Information will not amount to a full description of the condition and the absence of any reference to the condition of a Lot in the online catalogue description does not imply that the Lot is free from faults or imperfections. It is important that you appreciate that you will not have an opportunity to inspect the condition of a Lot prior to submitting a bid in respect of such Lot. Please refer to Condition 3 of the Conditions of Business for Buyers (Online Only) for further information regarding the basis upon which your bid for a Lot is submitted.
In situations where a person who is allowed to bid on a Lot has a direct or indirect interest in such Lot, such as the beneficiary or executor of an estate selling the Lot, a joint owner of the Lot, or a party providing or participating in a guarantee of the Lot, Sotheby’s will notify you by email and publish a notification in the Online Sale Information that interested parties may bid on the Lot. In certain instances, interested parties may have knowledge of the reserves.
Sotheby’s employees may bid only if the employee does not know the reserve and fully complies with Sotheby’s internal rules governing employee bidding.
3. SUBMISSION OF A BID FOR A LOT IN AN ONLINE ONLY AUCTION
An Online Only Auction can be fast moving. Competitive bidding can often escalate very quickly. Once you have set up a Verified Account, you will be able to submit a bid for a Lot by entering your maximum bid and clicking the ‘Leave Bid’ button which appears at Lot level on the Online Only Platform. If you haven’t already registered as a Verified Account holder, you will be prompted to do so at that point. You will then be asked to review and confirm your maximum bid. As soon as the ‘Leave Bid’ button or the ‘Place Bid’ button is clicked, your bid is submitted. You accept and agree that a bid is submitted using the ‘Leave Bid’ or the ‘Place Bid’ button.
Bids can be submitted through the Online Only Platform from the start of the Online Only Auction until the Lot closes. Enter your maximum bid (being the highest price you are willing to pay on the Lot). The Online Only Platform will then place incremental bids on your behalf up to your maximum bid for as long as you are the highest bidder. Sotheby’s uses pre-determined bidding increments. Please refer to the bidding increments link which appears at Lot level on the Online Only Platform. In cases where two equivalent maximum bids are submitted, the first bid received will take priority.
4. MONITOR YOUR BIDS
If you are outbid at any time you will receive an email notification informing you accordingly and the email notification will provide a link to follow to increase your bid. We encourage you to monitor the bids on Lots throughout the duration of the Online Only Auction to ensure your status as the highest bidder up until the close of the Online Only Auction.
5. CLOSING THE ONLINE ONLY AUCTION
An end time is displayed for each Lot at Lot level on the Online Only Platform. Lots will close at the time stated at Lot level on the Online Only Platform unless a bid is placed within 1 minute of a Lot's scheduled end time. If this occurs, Sotheby’s will extend the sale of that Lot by 5 minutes from the time of the last bid. The extension of any Lot's closing time does not affect the closing time of the following Lots. This may result in Lots closing out of numerical order.
6. HOW TO PAY FOR YOUR LOT
The Buyer of a lot must be at least 18 years of age. If you are a successful Buyer of a Lot, Sotheby's will email you the Buyer's Invoice for the total amount due by you (together with payment instructions) as soon as reasonably practicable after the final Lot in the relevant Online Only Auction closes. Payment from the invoiced party is due in full by the payment date stated in the Buyer’s Invoice. Please note that we reserve the right to decline payments received from anyone other than the buyer of record and that clearance of such payments will be required. Please contact our Post Sale Services Department if you have any questions concerning clearance.
Subject to the limitations and requirements in the Conditions of Business for Buyers (Online Only), Sotheby's accepts the following forms of payment: Sterling wire transfer, Sterling cheque, Sterling cash (in person at our New Bond Street premises only), UK debit card. Payment may also be made by Visa, MasterCard and non-UK debit cards subject to a 1.2% surcharge and by American Express and CUP (in person at our New Bond Street premises) subject to a 1.75% surcharge. Please refer to Condition 8 of the Conditions of Business for Buyers (Online Only) for further details regarding payment of a purchased Lot.
A Buyer’s Premium is payable by the successful Bidder on a Lot in an Online Only Auction. The Buyer's Premium is added to the Hammer Price and is included as part of the total Purchase Price payable by the successful Bidder. In an Online Only Auction conducted by Sotheby's in London, the Buyer’s Premium rate is 21% of the Hammer Price plus any applicable VAT.
Please note the following information regarding Sotheby's accepted payment policies:
• It is against Sotheby’s general policy to accept single or multiple related payments in the form of cash or cash equivalents in excess of the local currency equivalent of US$10,000.
• It is Sotheby’s policy to request any new clients or new buyers preferring to make Sterling cash payment to provide: proof of identity (by providing some form of government issued identification containing a photograph, such as a passport, identity card or driver’s licence) and confirmation of permanent address. Thank you for your co-operation.
• Cheques: should be made payable to Sotheby’s. Although personal and company cheques drawn in pounds sterling on UK banks are accepted, you are advised that property will not be released until such cheques have cleared unless you have a pre-arranged Cheque Acceptance Facility.
• Bank transfers: our bank account details are shown on our invoices. Please include your name, Sotheby’s account number and invoice number with your instructions to your bank.
• Card payments below £30,000 (excluding CUP), can be made remotely by completing our Absentee Card Payment Form. For further details please contact the Post Sale Services Department on +44 (0)20 7293 5220.
• Payments by Sterling cash and CUP can only be accepted at Sotheby’s premises at 34-35 New Bond Street, London, W1A 2AA.
• We reserve the right to seek identification of the source of funds received.
7. VAT INFORMATION FOR BUYERS
Please note that the Lots are being sold as in bond, located in Italy and that local taxes and duties may be payable. VAT will not be charged on the hammer price. VAT will be charged at the standard rate on the buyer’s premium to UK residents and to EU residents who are not VAT registered.
8. COLLECTION OR SHIPPING OF LOTS
Please note that the Lots are currently located in bond at the premises of Ornellaia & Masseto Società Agricola Srl (“Ornellaia) in Italy and are available for collection at by the Buyers at such premises. Buyers are asked to kindly contact Ornellaia (Elisa Querci, Ornellaia Logistic Services Coordinator, +39 0565 718276, firstname.lastname@example.org) to arrange for the collection of any Lot, or where they are unable to collect a Lot, to discuss shipping options directly with Ornellaia.
9. SALES AND USES TAXES
Buyers should note that local sales taxes or use taxes may become payable upon import of items following purchase (for example, use tax may be due when purchased items are imported into certain states in the US). Buyers should obtain their own advice in this regard.
CONDITIONS OF BUSINESS FOR BUYERS (ONLINE ONLY)
These Conditions of Business for Buyers (Online Only) set out the terms upon which Sotheby’s and the Seller offer the Lots for sale to Bidders.
You should read these Conditions of Business for Buyers (Online Only) and the Online Sale Information (including, but not limited to, the Guide to Buying in an Online Only Auction set out above) carefully before placing a bid for any Lot. In particular, Bidders’ attention is specifically drawn to Condition 4 below, which contains specific limitations and exclusions of the legal liability of Sotheby’s and Sellers.
By bidding for a Lot in an Online Only Auction on the Online Only Platform, you agree that these Conditions of Business for Buyers (Online Only) and the Online Sale Information shall be contractually binding on you. In the event that you are the successful Bidder for a Lot in an Online Only Auction, you agree that these Conditions of Business for Buyers (Online Only) and the applicable Online Sale Information will constitute the contract which governs the relationship between Sotheby’s, Sellers and Bidders.
(a) Sotheby’s and Sellers’ contractual relationship with prospective Buyers is governed by:
(i) these Conditions of Business for Buyers (Online Only);
(ii) the Conditions of Business for Sellers (Online Only) a copy of which can be provided to you on request;
(iii) the Online Sale Information (including, but not limited to, the Guide to Buying in an Online Only Auction set out above); and
(iv) Sotheby’s Authenticity Guarantee, as applicable to the item of Property (set out below).
(b) The Online Sale Information will identify the owner of the Lot immediately prior to the start of the Online Only Auction as either (i) a third party (in which case, Sotheby’s acts as agent for the Seller) or (ii) Sotheby’s (in which case, Sotheby’s acts in principal capacity as Seller). In the case of (i), Sotheby’s provides services to the Seller including, but not limited to, concluding the sale contract which exists directly between the Seller and the Buyer (with Sotheby’s acting as agent on behalf of the Seller). In the case of (ii), Sotheby’s owns the Lot in whole or in part and/or may have a legal, beneficial or financial interest in the Lot as a secured creditor or otherwise.
(c) The Online Sale Information will also identify if the Seller is an Online Consumer (and therefore, by inference, not an Online Trader) for the purposes of the Consumer Contracts Regulations. This is important because the Consumer Contracts Regulations provide that if the Seller is an Online Trader and the Buyer is an Online Consumer, the Buyer shall have the right to cancel the purchase of a Lot (in accordance with the procedure set out at Condition 11 of these Condition of Business for Buyers (Online Only)). In circumstances where the Seller is an Online Consumer, the right to cancel the purchase of a Lot does not apply however the Buyer may have the right (under the Consumer Contracts Regulations) to cancel certain services provided by Sotheby’s in connection with the purchase of the Lot (in accordance with the procedure set out at Condition 12 of these Conditions of Business for Buyers (Online Only)).
2. Common Terms
In these Conditions of Business for Buyers (Online Only):
"Additional Buyer's Expenses" are any other costs or expenses due to Sotheby's from the Buyer which are payable in respect of the sale of the Property, including an amount in respect of any applicable VAT thereon;
“ARR” is a levy which entitles creators of qualifying original works of art to a royalty each time one of their works is resold through an auction house or art market professional;
"Bidder" is any person considering, making or attempting to make a bid in an Online Only Auction and includes Buyers (also referred to as “you” in these Conditions of Business for Buyers (Online Only));
"Buyer" is the person who makes the highest bid for a Lot in an Online Only Auction via the Online Only Platform (also referred to as “you” in these Conditions of Business for Buyers (Online Only));
"Buyer's Premium" is the commission payable by the Buyer on the Hammer Price (at the rates set out in the Guide to Buying in an Online Only Auction set out above) plus any applicable VAT or an amount in lieu of VAT;
“Consumer Contracts Regulations” means the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 (as amended) which came into force in the UK on 6 April 2013;
"Counterfeit" is as defined in Sotheby's Authenticity Guarantee (set out below);
“Experience” is each activity experience included in the Online Only Auction;
“Experience Listing” is the information on the Online Only Platform in relation to each Experience;
"Hammer Price" is the highest bid accepted from a Bidder for a Lot during an Online Only Auction;
“Lot” is an item to be offered for sale at an Online Only Auction on the Online Only Platform (and “Lots” shall be construed accordingly);
“Online Sale Cancellation Period” is the period of fourteen (14) days starting on the day after the Online Consumer (or a person, other than the carrier, identified by the Online Consumer) takes physical possession of the Lot;
“Online Services Cancellation Period” is the period of fourteen (14) days starting from the day of conclusion of the contract which relates to provision of the delivery services by Sotheby’s in favour of the Online Consumer;
“Online Consumer” is an individual located in the European Union who purchases a Lot and who is acting for purposes which are wholly or mainly outside that individual’s trade, business, craft or profession;
“Online Only Auction” is the sale of a Lot which is conducted solely by means of the Online Only Platform provided by Sotheby’s and our partners;
“Online Only Platform” is the online only sale platform and associated technical services provided by Sotheby’s and our partners which is accessible solely by online means and which enables Buyers to bid for and buy Lots in a time based auction;
“Online Sale Information” is the Lot information including, but not limited to, any pre-sale estimates; any information regarding provenance; the online catalogue description of the Lot; any condition report provided by Sotheby’s in relation to the Lot (with any such condition report being deemed to include the online images of the Lot); any other information relating to the Lot or the conduct of the Online Only Auction published on the Online Only Platform (including, but not limited to, the Guide to Buying in an Online Only Auction set out above); any on-screen notices relating to the Online Auction;
“Online Trader” is a person who is the Seller of a Lot and is acting for purposes relating to that person’s trade, business, craft or profession;
“Ornellaia” means Ornellaia & Masseto Società Agricola Srl, the consignor of the Lots;
"Purchase Price" is the Hammer Price and applicable Buyer's Premium including VAT and any applicable ARR;
"Reserve" is the confidential minimum price which the Seller has agreed to accept for a Lot below which the Lot cannot be sold;
"Seller" is the person offering a Lot for sale (including their agent (other than Sotheby's), executors or personal representatives);
"Sotheby's" means Sotheby's, the unlimited company which has its registered office at 34-35 New Bond Street, London W1A 2AA;
"Sotheby's Company" means both Sotheby's in the USA and any of its subsidiaries (including Sotheby's in London) and Sotheby’s Diamonds SA and its subsidiaries (in each case “subsidiary” having the meaning of Section 1159 of the Companies Act 2006);
"VAT" is Value Added Tax at the prevailing rate. Further information is contained in the Guide to Buying in an Online Only Auction set out above;
“Verified Account” refers to the category of Sotheby’s account which is required to enable the account holder to (i) register for a sale; and (ii) to bid in an auction (including, but not limited to, an Online Only Auction); and
“Verified Account holder” means an individual or entity who/which maintains a Verified Account.
3. Duties of Bidders and of Sotheby’s in respect of items for sale
(a) Sotheby’s knowledge in relation to each Lot is partially dependent on information provided to it by the Seller, and Sotheby’s is not able to and does not carry out exhaustive due diligence on each Lot. Bidders acknowledge this fact and accept responsibility for carrying out investigations to satisfy themselves as to the Lots in which they may be interested.
(b) Bidders acknowledge that many Lots are of an age and type which means that they are not in perfect condition. All Lots are offered for sale in the condition they are in at the time of sale in the relevant Online Only Auction. Any reference to condition in the Online Sale Information will not amount to a full description of condition and the absence of any reference to the condition of a Lot in the online catalogue description does not imply that the Lot is free from faults or imperfections. Condition reports may be available to assist Bidders with assessing the condition of a Lot and are for guidance only. The online images of the Lot form part of the condition report provided by Sotheby’s. Certain online images of the Lot may not accurately reflect the actual condition of the Lot. In particular, the online images may represent colours and shades which are different to the Lot’s actual colour and shades. The Online Sale Information and/or any condition report relating to the Lot may make reference to particular imperfections of the Lot but you should note that the Lot may have other faults not expressly referred to in the condition report for the Lot or shown in the online images of the Lot. The condition report may not refer to all faults, restoration, alteration or adaptation because Sotheby’s is not a professional conservator or restorer but rather the condition report is a statement of opinion genuinely held by Sotheby’s. For that reason, Sotheby’s condition report is not an alternative to taking your own professional advice regarding the condition of the Lot. Please note that all electrical and mechanical goods are sold on the basis of their artistic and decorative value only, and should not be assumed to be operative. It is essential that prior to any intended use, the electrical system for any Lot is checked and approved by a qualified electrician.
(c) The Online Sale Information provided to Bidders in respect of a Lot, and any other estimate, whether written or oral, or other report, commentary or valuation, is not a representation of fact but rather is a statement of opinion genuinely held by Sotheby’s. Any estimate may not be relied on as a prediction of the selling price or value of the Lot and may be revised from time to time in Sotheby's absolute discretion.
(d) No representations or warranties are made by Sotheby's or the Seller as to whether any Lot is subject to copyright or whether the Buyer acquires copyright in any Lot.
(e) Subject to the matters referred to at 3(a) to 3(d) above and to the specific exclusions contained at Condition 4 below, Sotheby’s shall exercise such reasonable care when making express statements in the Online Sale Information (including, but not limited to, the catalogue description and any condition report relating to the Lot) as is consistent with the standard of care which a Bidder would reasonably expect from an auction house of Sotheby’s standing taking into account the estimate of the relevant Lot and in the light of:
(i) the information provided to it by the Seller;
(ii) scholarship and technical knowledge; and
(iii) the generally accepted opinions of relevant experts, in each case at the time any such express statement is made.
4. Exclusions and limitations of liability to Buyers
(a) Sotheby’s shall refund the Purchase Price to the Buyer in circumstances where it deems that the Lot is a Counterfeit and each of the conditions of the applicable Authenticity Guarantee has been satisfied.
(b) In the light of the matters in Condition 3 above and subject to Conditions 4(a) and 4(e), neither any Sotheby's Company nor the Seller:
(i) is liable for any errors or omissions in information provided to Bidders by Sotheby’s (or any Sotheby's Company), whether orally or in writing, whether negligent or otherwise, except as set out in Condition 3(e) above;
(ii) gives any guarantee or warranty to Bidders and any implied warranties and conditions are excluded (save in so far as such obligations cannot be excluded by law) other than the express warranties given by the Seller to the Buyer in Condition 2 of the Sellers' Conditions of Business;
(iii) accepts responsibility to any Bidders in respect of acts or omissions (whether negligent or otherwise) by Sotheby’s in connection with the conduct of the Online Only Auction and/or the operation of the Online Only Platform or for any matter relating to the sale of any Lot.
(c) Unless Sotheby’s owns a Lot offered for sale, it is not responsible for any breach of these conditions by the Seller.
(d) Without prejudice to Condition 4(b), any claim against Sotheby’s or the Seller by a Bidder is limited to the amount of Purchase Price with regard to that Lot. Neither Sotheby’s nor the Seller shall under any circumstances be liable for any indirect or consequential losses.
(e) Nothing in this Condition 4 shall exclude or limit Sotheby’s liability in respect of any fraudulent misrepresentation made by Sotheby’s or the Seller, or in respect of death or personal injury caused by the negligent acts or omissions of Sotheby’s or the Seller.
5. Registering to bid in an Online Only Auction
(a) In order to bid in an Online Only Auction, you must have set up a Verified Account (in accordance with the procedures set out at 5(b) and 5(c) below).
(b) If you have not already bid online in a Sotheby’s sale, you will have to create a Verified Account in order to register for a particular Online Only Auction and to be eligible to bid in that particular Online Only Auction. The registration process requires that you submit your request to open a Verified Account no later than 24 hours prior to the closing of the first Lot in the relevant Online Only Auction in which you wish to bid (you will also be required to provide certain information to Sotheby’s as part of the application process) to create a Verified Account, please follow the registration instructions provided at: www.sothebys.com/accountcreation
(c) If you have already set up a Verified Account, you can sign into the applicable Online Only Auction using your existing username and password. Once you have registered for a particular Online Only Auction, you can submit bids using your existing Verified Account (if you have multiple accounts, you will need to select the account under which you wish to transact in a particular Online Only Auction). To login to your Verified Account, please follow the login instructions provided at: www.sothebys.com/accountcreation
(d) By registering to bid in an Online Only Auction (whether in an individual capacity or on behalf of a company), you acknowledge and agree that by submitting a bid in an Online Only Auction (i) in your individual capacity, in which case you accept personal liability to pay the amounts identified at Condition 8(b) below as principal and (ii) in your capacity as agent for an identified third party, in which case you accept joint and several liability to pay the Purchase Price with your principal.
(e) In order to set up a Verified Account, you are required to supply the information requested, including valid credit card or other accepted payment method information. Sotheby's has absolute discretion to refuse an application to register for, or bid in, an Online Only Auction. Throughout the registration process, Sotheby’s has absolute discretion to request Bidders to supply such additional information and references as may be required by Sotheby's.
(f) Sotheby’s reserves the right to deactivate your Verified Account at any time prior to, during, or after an Online Only Auction.
6. Bidding in an Online Only Auction
(a) Bidding opens at a specified amount (which is below the presale low estimate for the Lot) and escalates in bid increments which are set out in the Online Sale Information relating to the Lot and which are determined at Sotheby’s discretion). Sotheby’s may vary the amount of the bid increments during the course of an Online Only Auction, at our sole discretion. Bids for a Lot may only be submitted between the dates and times specified in the Online Sale Information relating to the applicable Online Only Auction.
(b) An Online Only Auction can be fast-moving. Competitive bidding can often escalate very quickly. Once you have set up a Verified Account, you will be able to submit a bid for a Lot by entering your maximum bid and clicking the ‘Leave Bid’ button. If you haven’t already registered as a Verified Account holder, you will be prompted to do so at that point. You will then be asked to review and confirm your maximum bid. As soon as the ‘Place Bid’ button is clicked, your bid is submitted. You accept and agree that a bid which is submitted using the ‘Leave Bid’ button. Each Bidder will be entitled to amend, retract or revoke up to three separate bids in an Online Only Auction but thereafter, the Online Only Platform will not under any circumstances allow you to amend, retract or revoke a bid. If a bid is successfully submitted on a Lot in an Online Only Auction from a Bidder’s computer or mobile device, the Bidder irrevocably agrees to pay the amounts identified in Condition 8(b) below, in full. Sotheby’s is not responsible for any errors that the Bidder makes in bidding on a Lot. Sotheby’s reserves the right to restart an Online Only Auction or to restart bidding on a particular Lot if we consider it is necessary or appropriate or reasonable to do so.
(c) The Online Only Platform requires that you submit a bid which correlates to one of the increments set out in the bidding increment table which is available to view at Lot level.
(d) If you have the leading bid on a Lot, you will receive a notification on the Online Only Platform informing you that you are the highest bidder. If you are outbid by another Bidder, you will receive an email notification to inform you accordingly.
(e) In the event that you submit a bid for an amount at which a bid has already been accepted, your bid shall be rejected.
(f) Unless Sotheby’s decides to exercise its discretion in accordance with Condition 6(g) below, the highest bid when the Lot closes will be the successful Bidder. This means that a contract for sale has been formed between the Seller and the successful Bidder at the end of the Online Only Auction. The successful Bidder will receive an email notification of any successful bid and will be invoiced by Sotheby’s in accordance with Condition 8 below.
(g) The sale record for an Online Only Auction maintained by Sotheby’s will be taken as absolute and final in all disputes. In the event of any discrepancy between the sale record for an Online Only Auction maintained by Sotheby’s and any message or notification provided to you in relation to your bid on a Lot and/or the applicable Online Only Auction, the sale record for the Online Only Auction maintained by Sotheby’s shall prevail.
(h) Sotheby’s reserves the right, in our sole and absolute discretion, to reject, revoke or refuse to accept any bid submitted for a Lot using the Online Only Platform even those bids which have previously been accepted; to withdraw any Lot whether prior to or during the Online Only Auction and Sotheby’s shall have no liability whatsoever in connection with such withdrawal; to divide or combine any Lots; or to restart the bidding on a Lot at any time during the Online Only Auction.
7. Operation of the Online Only Platform
(a) Unless otherwise specified, all Lots are offered subject to a Reserve, which shall be no higher than the low presale estimate at the opening time for the applicable Online Only Auction. If any Lot is not subject to a Reserve, the ‘No Reserve’ symbol will be displayed against the Lot in the Online Sale Information. Under no circumstances will the system place any bid on behalf of the Seller at or above the Reserve.
(b) Sotheby’s offers the Online Only Platform as a convenience to its clients and the Online Only Platform shall be operated by Sotheby’s using reasonable care. The application that enables participation in an Online Only Auction via the Online Only Platform is optimized for broadband connectivity (DSL or cable modem). Broadband or other internet capacity constraints, corporate firewalls and other technical problems beyond our reasonable control may create difficulties for some users including, for example, in relation to accessing an Online Only Auction via the Online Only Platform and in maintaining continuity of such access. Sotheby’s will not be liable for any errors or failure by Bidders to place bids using the Online Only Platform via the internet or a mobile device (except where any such error or failure is within Sotheby’s reasonable control) including, without limitation, errors or failures caused by: (i) any loss of connection between Bidders and the Online Only Platform; (ii) a breakdown or fault with the online bidding software or other technical services which relate to the Online Only Platform; and/or (iii) a breakdown or fault with any internet connection, computer, mobile device or system.
(c) As a potential Bidder, you acknowledge and accept that you shall not be given an opportunity to inspect the property prior to bidding in the Online Only Auction.
(d) You acknowledge and accept that Sotheby’s shall have the right in its absolute discretion to reduce the Reserve for any Lot at any time during the Online Only Auction provided this has been agreed with the Seller prior to any such reduction.
8. Payment for a purchased Lot
(a) If you are a successful Buyer of a Lot, you will receive by email an invoice from Sotheby’s as soon as reasonably practicable after the final Lot in the relevant Online Only Auction closes. In the event of any discrepancy between the any email notifications received by you from the Online Only Platform and the invoice emailed to you by Sotheby’s after the relevant Online Only Auction closes, the invoice prevails. Terms and conditions regarding payment of the invoice are set out below.
(b) The invoice for the Purchase Price of the purchased Lot (the “Buyer’s Invoice”) which will include:
(i) the Hammer Price;
(ii) the Buyer’s Premium;
(iii) any ARR; and
(iv) any other duties, goods, sales or service tax or VAT.
You acknowledge and agree that it is your responsibility to ascertain and pay all international duties, custom charges, taxes (including import taxes), charges and tariffs owed to the appropriate government entity or that otherwise need to be paid prior to shipment and/or delivery including any third party charges necessary to facilitate shipment.
(c) Sotheby’s charges a Buyer’s Premium to the Buyer on the Hammer Price for each Lot sold. The amount of the Buyer’s Premium is set out in the Guide to Buying in an Online Only Auction above.
(d) The Buyer of a Lot is solely responsible for the payment of any VAT (including, but not limited to, any import VAT), sales tax or value added sales tax, sales or compensating use tax or any other similar tax payable as a result of the sale of a Lot. Further information and guidance as to the application of such taxes is provided in the Guide to Buying in an Online Only Auction set out above.
(e) In certain countries, local laws entitle the artists or the artist’s estate to the ARR when any Lot created by the artist is sold. If these laws apply to a Lot, the Buyer must pay Sotheby’s an additional amount equal to the ARR (unless the local law requires payment to be made by the Seller). Further information and guidance on the application of the ARR is provided in the Guide to Buying in an Online Only Auction set out above.
(f) Unless otherwise agreed, payment of the total amount specified on the purchase invoice for a Lot is due by the Buyer immediately following receipt of the Sotheby’s invoice for the relevant purchased Lot and in any event no later than 48 hours after receipt of the Sotheby’s receipt (the "Due Date") notwithstanding any requirements for export, import or other permits for such Lot. Sotheby’s will only accept payment from the registered Bidder and we cannot change the Buyer’s name on an invoice or reissue the invoice in a name which differs to the name of the registered Bidder. If you are registered to bid as a company, your company will need to pay for any purchases in the name of the company via an accepted payment method. Partial payment of a Lot, or payment across multiple credit cards for a single lot, is not permitted. Further information regarding accepted payment methods is set out in the Guide to Buying in an Online Only Auction set out above.
(g) Title in a purchased Lot will not pass until Sotheby's has received the total amounts due for that Lot in accordance with Condition 8(b) above in cleared funds. Sotheby's is not obliged to release a Lot to the Buyer until title in the Lot has passed and appropriate identification has been provided, and any earlier release does not affect the passing of title or the Buyer's unconditional obligation to pay the total amounts due for that Lot in accordance with Condition 8(b) above.
(h) Risk in and responsibility for the purchased Lot will transfer to the Buyer upon release of the Lot to the Buyer or the Buyer’s agents (including shipping agents) at the premises of Ornellaia. As a Buyer, you acknowledge and agree that the Lot is at your risk if you choose to exercise any right you may have to cancel the contract for the purchase of the Lot (in accordance with the procedure set out at Condition 11 below) and that you should therefore ensure that you insure the Lot against loss or damage until it is returned to Sotheby’s.
(i) If you fail to pay us the total amounts due for the purchased Lot(s) in accordance with Condition 8(b) above in full by the Due Date, Sotheby’s will be entitled to exercise any of the remedies identified at Condition 9 below.
9. Remedies for non-payment
Without prejudice to any rights the Seller may have, if the Buyer without prior agreement fails to make payment for the Lot by the Due Date, Sotheby's may in its sole discretion (having informed the Seller) exercise one or more of the following remedies:
(a) store the Lot at its premises or elsewhere at the Buyer’s sole risk and expense;
(b) cancel the sale of the Lot;
(c) set off any amounts owed to the Buyer by a Sotheby’s Company against any amounts owed to Sotheby's by the Buyer in respect of the Lot;
(d) apply any payments made to Sotheby’s by the Buyer as part of the amounts due pursuant to Condition 8(b) above towards that or any other Lot purchased by the Buyer, or to any shortfall on the resale of any Lot pursuant to paragraph (h) below, or to any damages suffered by Sotheby’s as a result of breach of contract by the Buyer;
(e) reject future bids from the Buyer or render such bids subject to payment of a deposit;
(f) charge interest at 6% per annum above HSBC Bank plc Base Rate from the Due Date to the date the Purchase Price and relevant Buyer's Expenses are received in cleared funds (both before and after judgement);
(g) exercise a lien over any of the Buyer’s property which is in the possession of a Sotheby’s Company. Sotheby's shall inform the Buyer of the exercise of any such lien and within fourteen (14) days of such notice may arrange the sale of such property and apply the proceeds to the amount owed to Sotheby’s;
(h) resell the Lot by auction or private sale, with estimates and reserves at Sotheby's discretion. In the event such resale is for less than the Purchase Price and Additional Buyer's Expenses for that Lot, the Buyer will remain liable for the shortfall together with all costs incurred in such resale;
(i) commence legal proceedings to recover the Purchase Price and Additional Buyer's Expenses for that Lot, together with interest and the costs of such proceedings on a full indemnity basis; or
(j) release the name and address of the Buyer to the Seller to enable the Seller to commence legal proceedings to recover the amounts due and legal costs. Sotheby's will take reasonable steps to notify the Buyer prior to releasing such details to the Seller.
10. Collection or Shipping
Please note that the Lots are currently located in bond at the premises of Ornellaia & Masseto Società Agricola Srl (“Ornellaia”) in Italy and are available for collection at Ornellaia’s premises. Buyers are asked to kindly contact Ornellaia (Elisa Querci, Ornellaia Logistic Services Coordinator, +39 0565 718276, email@example.com) to arrange for the collection of any Lot, or where they are unable to collect a Lot, to discuss shipping options directly with Ornellaia.
(b) Any Lot sold in an Online Only Auction may be affected by laws on exports from the country in which it is sold and the import restrictions of other countries. Many countries require a declaration of export for property leaving the country and/or an import declaration on entry of property into the country. Obtaining the necessary permits and/or licences may result in additional costs and subsequent delays. Local laws may prevent you from importing a Lot or may prevent you from selling a Lot in the country which you import into. It is the Buyer's sole responsibility to identify and obtain any necessary export, import, firearm, endangered species or other permit for the lot. Any symbols or notices in the sale catalogue reflect Sotheby’s reasonable opinion at the time of cataloguing and offer Bidders general guidance only. For further guidance on export/import restrictions, please refer to the Guide to Buying in an Online Only Auction set out above.
(c) Without prejudice to Conditions 3 and 4 above, Sotheby's and the Seller make no representations or warranties as to whether any lot is or is not subject to export or import restrictions or any embargoes. The denial of any permit or licence shall not justify cancellation or rescission of the sale contract or any delay in payment.
11. Cancellation of an Online Only Sale
(a) If the Buyer is an Online Consumer and the Seller is an Online Trader, the Buyer shall have the right to cancel the sale contract which exists directly between the Online Trader (as Seller) and the Online Consumer (as Buyer) during the Online Sale Cancellation Period for any reason provided that (i) the Online Consumer duly informs Sotheby’s during the Online Cancellation Period of their intention to cancel the purchase of the Lot; and (ii) the Online Consumer returns the Lot to Ornellaia without undue delay and in any event not later than fourteen (14) calendar days from the day after the Online Consumer has communicated their intention to cancel the purchase of the Lot to Sotheby’s.
(b) To exercise the right to cancel the sale contract in relation to a Lot, the Online Consumer must inform Sotheby’s (being the company within the Sotheby’s Group and specified in the Online Sale Information which offers to sell the Lot either as agent for the Seller or as principal) of their decision to cancel the sale contract by a clear statement (e.g. a letter sent by post, fax or email). Alternatively, the Online Consumer may use the model cancellation form set out below. Provided that the Online Consumer sends the communication to inform the Online Trader of the cancellation prior to the end of the Online Sale Cancellation Period, the Online Consumer will be deemed to have cancelled the sales contract within the Online Sale Cancellation Period.
(c) If the Online Consumer cancels the sales contract within the Online Sale Cancellation Period, Sotheby’s will reimburse (without undue delay and in any event within fourteen (14) calendar days after receipt of the returned Lot from the Online Consumer within the time frame specified in Condition 11(a)(ii) payments received by Sotheby’s from the Online Consumer (including the Purchase Price and any Standard Online Delivery Costs). Sotheby’s shall not process the reimbursement unless and until the Lot is returned to Ornellaia or you have supplied Sotheby’s with evidence of having returned the Lot to Ornellaia.
(d) Sotheby’s will make the reimbursement to the Online Consumer using the same method of payment as the Online Consumer used for the initial transaction, unless expressly agreed otherwise. Sotheby’s will not charge the Online Consumer any fee in connection with processing the reimbursement.
(e) Sotheby’s shall not reimburse the Online Consumer by the amount of any supplementary costs which arise if you chose a type of delivery other than the least expensive type of standard delivery offered by Sotheby’s or any import duties we incur as a result of you returning the Lot to us. Sotheby’s is entitled to deduct from the reimbursement the amount of any loss in value of the Lot which is caused as a result of unnecessary handling by you.
(f) You shall send back the Lot or hand it over to Ornellaia at such address as we may specify for the purpose, without undue delay and in any event no later than 14 calendar days from the day after which you communicate your cancellation of your purchase of the Lot to us. This deadline is met if you send back the Lot before the period of 14 calendar days has expired. You will have to bear the direct costs of returning the Lot. If Ornellaia arranged for the Lot to be delivered we estimate that the cost of returning the Lot by the same means is likely to be similar to the cost of delivery but it is not possible for us to be more accurate as to this cost due to the many variables involved in our worldwide business model and the means by which a return might be made.
Model form of cancellation – sale of goods/provision of services
To: Sotheby’s [insert the name of the company within the Sotheby’s Group and specified in the Online Sale Information]
I/We* hereby give notice that I/We* cancel my/our sale of the following goods [*]/for the provision of the following services [*],
Ordered on [*]/received on [*],
Name of Online Consumer(s):
Address of Online Consumer(s):
Signature of Online Consumer(s) [only if the notification is in hard copy]
[*] Delete as appropriate
Additional Provisions which apply where a Lot is an Experience
12. As Is
Each Experience is sold “AS IS” without any representations or warranties of any kind. Without limiting the generality of the foregoing, Sotheby's expressly disclaims any implied representations or warranties of merchantability or fitness for a particular purpose, representations and warranties as to the condition, size, quality, rarity, importance, provenance, literature or historical relevance of an Experience, or as to the quality, accuracy, timeliness, non-infringing nature, completeness or reliability of any Online Sale Information which relates to an Experience, including any Experience Listing or other description of any Experience and any representations or warranties arising out of course of dealing or usage of trade. No statement anywhere, whether oral or written, whether made in the catalogue, an advertisement, or elsewhere, shall be deemed such a warranty, representation or assumption of liability. Sotheby's is not responsible for errors and omissions in any Online Sale Information which relates to an Experience, including any Experience Listing, or any supplemental material.
13. No Endorsement
Sotheby's does not plan, host, operate, or fulfil the Experiences. Sotheby's does not endorse, verify, vouch for, investigate or vet any Experience. Sotheby's does not make any representations or warranties, express or implied, of any kind with respect to any Experience. Sotheby's is not responsible for estimates, descriptions or any other matters relating to the offer and sale of any Experiences. Information about Experiences is provided by the Seller. Sotheby's does not verify the accuracy of this information.
14. Costs and Expenses
For each Experience, any incidental costs and expenses such as fees for travel, food or lodging are the sole responsibility of the Purchaser unless otherwise expressly stated in the Experience Listing for the applicable Experience.
Sotheby's reserves the right to withdraw any Experience before, during and after the Online Only Auction and shall have no liability whatsoever for such withdrawal.
16. Limitation of Liability
In connection with the sale of any Lot which is an Experience, in no event will Sotheby's aggregate total liability to a Purchaser exceed the portion of purchase price actually paid for a Lot equal to the value of the respective Experience. The Purchaser acknowledges and agrees that, as between the Purchaser and Sotheby's, in each case to the maximum extent permitted by law, the Purchaser assumes the entire risk arising out of or in connection with the Purchaser's purchase of and participation in an Experience or otherwise arising out of or in connection with the fulfillment of a purchased Experience. None of Sotheby's, its affiliates, or any of their respective employees, shareholders, officers or directors (each, a "Sotheby's Party") (a) are liable for any negligence or willful act or omission of any person or entity providing any goods or services arising out of or in connection with Purchaser's purchase of or participation in any Experience or otherwise arising out of or in connection with the fulfillment of a purchased Experience, or (ii) are responsible for and each expressly disclaims and you release each such person or entity from any liability for any injury, damage or harm to any person or entity or to real or personal property, financial or physical loss, death, inconvenience or delay arising out of or in connection with Purchaser's purchase of or participation in any Experience or otherwise arising out of or in connection with the fulfillment of a purchased Experience.
In connection with the sale of any Lot which is an Experience, without limiting the generality of the foregoing, no Sotheby's Party will be liable for any incidental, punitive, special, exemplary or consequential damages, including lost profits, loss of data or goodwill, service interruption, computer damage or system failure or the cost of substitute services arising out of or in connection with Purchaser's purchase of or participation in any Experience or otherwise arising out of or in connection with the fulfillment of a purchased Experience, whether based on warranty, contract, tort (including negligence), product liability or any other legal theory, and whether or not such person or entity has been informed of the possibility of such damage, even if a limited remedy set forth herein is found to have failed of its essential purpose.
In connection with the sale of any Lot which is an Experience, no Sotheby's Party assumes any responsibility for any other third party's failure to comply with any applicable laws and regulations. Each Sotheby's Party explicitly disclaims and you release each Sotheby's Party from any and all liability for any act or omission of any other third person or entity. Sotheby's cannot control the Purchaser's or any guest's interaction with the Seller or any third party and each Sotheby's Party expressly disclaims and you release each Sotheby's Party from any liability arising out of or in connection with such interaction.
You agree that any legal remedy or liability that you seek to obtain arising out of or in connection with any Experience or the Online Only Auction will be limited to a claim against the Seller or other third parties. You agree not to impose or attempt to impose any liability on any Sotheby's Party or seek any legal remedy from any Sotheby's Party with respect to any Experiences or the Online Only Auction.
17. Bidder’s/buyer’s warranties
(a) The Bidder and/or Buyer is not subject to trade sanctions, embargoes or any other restriction on trade in the jurisdiction in which it does business as well as under the laws of the European Union, the laws of England and Wales, or the laws and regulations of the United States, and is not owned (nor partly owned) or controlled by such sanctioned person(s) (collectively, “Sanctioned Person(s)”).
(b) Where acting as agent (with Sotheby’s prior written consent), the principal is not a Sanctioned Person(s) nor owned (or partly owned) or controlled by Sanctioned Person(s).
(c) The Bidder and/or Buyer undertakes that none of the Purchase Price will be funded by any Sanctioned Person(s), nor will any party involved in the transaction including financial institutions, freight forwarders or other forwarding agents or any other party be a Sanctioned Person(s) nor owned (or partly owned) or controlled by a Sanctioned Person(s), unless such activity is authorized in writing by the government authority having jurisdiction over the transaction or in applicable law or regulation.
(a) All images and other materials produced for the auction are the copyright of Sotheby's, for use at Sotheby's discretion.
(b) Notices to Sotheby's should be in writing and addressed to the department in charge of the sale, quoting the reference number specified at the beginning of the sale catalogue. Notices to Sotheby's clients shall be addressed to the last address formally notified by them to Sotheby's.
(c) Should any provision of these Conditions of Business for Buyers (Online Only) be held unenforceable for any reason, the remaining provisions shall remain in full force and effect.
(d) These Conditions of Business for Buyers (Online Only) are not assignable by any Buyer without Sotheby's prior written consent, but are binding on Buyers' successors, assigns and representatives. No act, omission or delay by Sotheby's shall be deemed a waiver or release of any of its rights.
(e) The Contracts (Rights of Third Parties) Act 1999 is excluded by these Conditions of Business for Buyers (Online Only) and shall not apply to any contract made pursuant to them.
(f) The materials listed in Condition 1(a) above set out the entire agreement and understanding between the parties with respect to the subject matter hereof. It is agreed that, save in respect of liability for fraudulent misrepresentation, no party has entered into any contract pursuant to these terms in reliance on any representation, warranty or undertaking which is not expressly referred to in such materials.
19. Data Protection
20. Law and Jurisdiction
Governing Law These Conditions of Business for Buyers (Online Only) and all aspects of all matters, transactions or disputes to which they relate or apply (including any online bids in the sale to which these Conditions apply) shall be governed by and interpreted in accordance with English law.
Jurisdiction For the benefit of Sotheby’s, all Bidders and Sellers agree that the Courts of England are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Business for Buyers (Online Only) relate or apply. All parties agree that Sotheby’s shall retain the right to bring proceedings in any court other than the Courts of England.
Service of Process All Bidders and Sellers irrevocably consent to service of process or any other documents in connection with proceedings in any court by facsimile transmission, personal service, delivery by mail or in any other manner permitted by English law, the law of the place of service or the law of the jurisdiction where proceedings are instituted, at the last address of the Buyer or Seller known to Sotheby’s or any other usual address.
SOTHEBY’S AUTHENTICITY GUARANTEE FOR WINE AND SPIRITS
If Sotheby’s sells any wine or spirit which the Buyer subsequently shows to Sotheby’s reasonable satisfaction to be a “counterfeit”, subject to the terms below Sotheby’s will set aside the sale and refund to the Buyer the total amount paid by the Buyer to Sotheby’s for the item, in the currency of the original sale.
For these purposes, “counterfeit” means a wine or spirit that in Sotheby’s reasonable opinion is an imitation created to deceive as to producer and vintage, where the correct description of the producer and vintage is not reflected by the description in the catalogue.
The Guarantee is provided for a period of twenty-one (21) days from the date of the relevant auction, is solely for the benefit of the original Buyer of record and may not be transferred to any third party.
To be able to claim under this Guarantee, the Buyer must:
(i) notify Sotheby’s in writing within such 21 days period of the reasons for believing the wine or spirit to be counterfeit, specifying the lot number, date of the auction at which it was purchased; and
(ii) return the item to Sotheby’s at the original selling location in the same condition as at the date of sale to the Buyer and be able to transfer food title to the Lot, free from any third party claims arising after the date of the sale.
Sotheby's has discretion to waive any of the above requirements. Sotheby's may require the Buyer to obtain at the Buyer's cost the reports of two independent and recognised experts in the field, mutually acceptable to Sotheby's and the Buyer. Sotheby's shall not be bound by any reports produced by the Buyer, and reserves the right to seek additional expert advice at its own expense. In the event Sotheby's decides to rescind the sale under this Guarantee, it may refund to the Buyer the reasonable costs of up to two mutually approved independent expert reports.
Subject to the above, in the event that Sotheby’s determines that the Property is “counterfeit”, as the Buyer’s sole remedy Sotheby’s will rescind the sale and the seller will return the purchase price for the Lot to the Buyer. Neither Sotheby’s nor the seller shall be liable for any incidental or consequential damages incurred or claimed, including without limitation, loss of profits or interest.