Terms & Conditions for Sellers

CONTRACT TERMS BETWEEN NZ ART BROKER LIMITED (NZAB) AND OWNER/AGENT (VENDOR/YOU) IN RELATION TO THE SALE OF ARTWORK (ITEM)

You and NZAB agree to be bound by these contract terms (Terms) in all circumstances where You list an item (Item) with NZAB for sale on www.nzartbroker.com and NZAB agrees to list those item(s) on your behalf.

Assessment of Item

Prior to listing the Item, NZAB will provide a current market estimate of the Item.

Listing Fee

There will be a listing fee of $50.00 per Item payable by bank transfer to NZAB at the time of listing. The listing fee is non-refundable. Once a listing fee is received NZAB will provide a formal valuation of the item and suggest a reserve price and provide recommendations on whether to sell the item via online auction or in the NZAB website gallery at a fixed price

Description of Item

You must supply a photograph of the Item of quality no less than 2 megapixels together with the following information where possible: (a) name of artist; (b) medium; (c) size; (d) note of any inscriptions; and (e) provenance.

NZAB reserves the right to reject photographs that do not meet its standards. We can also organise to take photographs of the work for you.

Sale by Auction

RESERVE

Where the Item is to be sold by online auction you will set a reserve price in conjunction with NZAB. The negotiated reserve is inclusive of NZAB’s commission and service charge unless otherwise agreed.

NZAB may publish a presale estimate range at its discretion.

BIDDING

You may not bid on your own Item nor shall you arrange for a family member, friend or acquaintance to bid on your Item with the sole intention to raise the bidding.

Where a reserve has been set only NZAB may bid on your behalf.

NZAB reserves the right to bid for any Item on behalf of any buyer.

Sale by Fixed Price

Where the Item is to be sold by fixed price you will set a fixed price in in conjunction with NZAB.

Commission

NZAB charges a flat rate of 14% commission on all sales (inclusive of GST).

Where the Item is sold at auction the commission will be based on the price achieved at auction.

NZAB shall also receive on all sales a service charge of 7% (inclusive of GST) which is payable by the buyer and covers all packing and freight to major cities and towns within New Zealand and all administration charges associated with the sale.

Withdrawals

Once an Item is contracted to sell it may not be withdrawn nor its reserve increased without agreement of NZAB.

NZAB’s Power of Sale

NZAB has the discretion to:

(a) Accept or decline any bid, withdraw any Item, in the case of dispute reoffer an Item and subject to any reserve sell any lot after an auction where the Item did not sell;

(b) Use an image of the Item for any promotion of the Item or of NZAB; and

(c) Seek an independent opinion or valuation of any Item and use that opinion or similar information provided by you in the promotion or presentation of the Item.

Delivery and Shipping

NZAB will supply you with all packaging supplies and materials and organise for courier collection of the item. The cost of packaging and freight is borne by the buyer by way of the service charge.

NZAB will advise you immediately on receipt of cleared funds from the buyer. Within 7 days of notice of cleared funds you must arrange for the Item to be safely packaged and advise NZAB it is ready for courier collection. You must inform NZAB of any delays or necessary information for collection.

Risk and Insurance

You will insure and continue to insure the Item until all risk passes to the buyer. Insurance of the Item while being shipped is at your expense.

Payment to Vendor

Payment for all Items purchased is due within 48 hours of the completion of the sale. Payment is to be made by the buyer by bank transfer to NZAB’s trust account.

NZAB will release the funds to You (less its commission and service fee) on the buyer confirming receipt of the Item without any defects which the buyer must do within 14 calendar days following the conclusion of the sale.

You are required to supply a bank account for electronic transfer of funds. Funds will not be paid via cheque or cash. You will be notified by your nominated contact method once payment is made to your account.

NZAB shall not be responsible for any default by the buyer to pay. If the buyer fails to pay within 48 hours without prior arrangement then NZAB will contact You first to take your instructions as to course of action. NZAB will assist in as far as it deems practicable to recover the purchase price from the buyer but shall not be required to issue proceedings in its own name nor be required to pay for those proceedings. If NZAB cannot obtain instructions from You it may in its absolute discretion re-sell the Item.

Exclusivity on Items

NZAB has the exclusive right to sell the Item for a period of 4 months from the date of listing. If you sell the Item elsewhere within this time frame then NZAB shall invoice You for a percentage of its commission that it deems appropriate to reflect the time and costs expended by NZAB as part of the listing and/or auction process.

Copyright and Intellectual Property

Intellectual property in the Item remains with You until the Item is sold. You grant NZAB a licence to display your Item on its website. NZAB reserves the right to use images exhibited on the website for the use of promoting its website and online gallery.

Although NZAB endeavours to prevent the infringement of your intellectual property rights, all Items displayed are done so at Your own risk.

Warranty / Indemnity

You warrant that the Item matches the description provided and You are responsible for the accuracy of your description. You will indemnify NZAB for any loss, damages, cost or other expenses it suffers as a result of your inaccuracy or otherwise.

You warrant that You are the owner of the Item or that you are legally authorised by the owner to sell the item. You warrant that you are able to provide and transfer free and unencumbered title to the Item to the buyer and You will indemnify NZAB and/or the subsequent buyer for any breach of this warranty.

Authenticity

You agree to accept return of any Item and to refund any money paid by NZAB to you if:

The Item is proven to be fake or a forgery whether or not You knew of the authenticity; and/or

The Item is proven to have a deliberately disguised or undisclosed repair or any supporting documentation provided with the Item was incorrect whether or not You knew of the repair or error.

Disputes

NZAB and you must attempt to resolve any dispute or claim resulting from these Contract Terms through negotiations conducted in good faith. Any dispute or claim not resolved by negotiations must be referred by a party to mediation. If a mediator cannot be agreed upon within 7 days of notice of reference to mediation being given then a mediator shall be appointed by the then Chairperson of LEADR New Zealand Incorporated or the Chairperson’s nominee. The mediator shall conduct the mediation in accordance with guidelines agreed between the parties, or if not agreed, in accordance with the guidelines set by the mediator.

NZAB and you will each bear your own costs in connection with the mediation, and must share the costs of the mediator and mediation process equally. This clause will continue to apply even after expiration or termination of these Contract Terms.

General

NZAB will use its reasonable endeavours to ensure the availability of the website and services, subject to usual maintenance, system and internet disturbances and force majeure. NZAB takes no responsibility for any system unavailability or for any loss incurred as a result of website or services being unavailable.

NZAB assumes no responsibility for the corruption of any data or information held by NZAB.

While every effort has been made to keep the information contained on this website current, NZAB gives no warranty in this regard. NZAB offers no warranties of any kind to any site users and will not be liable for any damages arising from the use of this website or from use of the items listed on or purchased from this website.

If NZAB does not exercise or enforce any right available to it under these Terms that does not constitute a waiver of its rights.

If any provision of these Terms becomes or is held to be invalid, unenforceable or illegal for any reason, that provision shall be severed from the remaining terms and conditions, which shall continue in full force and effect.

These Terms are governed by the laws of New Zealand and You submit to the exclusive jurisdiction of the Courts of New Zealand.

These Terms may not be varied without the prior written consent of NZAB.

These Terms constitute the entire agreement between NZAB and you.