Buyer's Information

The Saleroom is a contracting center, whose purpose is the sale by auction, following a voluntary auction, of goods, artistic objects, or items of a similar nature entrusted to it for this purpose.

Consequently, the Saleroom acts as an intermediary between the owner and/or seller of each lot, on their behalf, and potential buyers, except when it declares that the sale concerns its own lots, in which case it acts on behalf of "DURÁN SALA DE ARTE, S.L.U.".

Live Auctions: lots to be auctioned in the saleroom will be exhibited prior to the auction in the company's premises, in order to allow potential buyers a thorough examination and knowledge of them.

Online Auctions and Sales: lots put up for auction and/or online sale by Durán will be duly cataloged and described on the website. Persons wishing to buy in either Durán's auction or online sale must check the condition and other terms of the item they wish to acquire, to ensure that the description matches their assessment. To this end, Durán provides the public, during saleroom opening hours, with an assistance service made up of a group of professionals who will provide information regarding the conservation state, attributed author, or any other data related to the lots included in Durán's auction and online sale catalogs.

This public assistance service will be provided in accordance with principles of good faith and Durán's reasonable and well-founded criteria acquired through experience, without Durán assuming any responsibility regarding the information and opinions provided.

Any statement regarding the lots contained in the catalog and/or on the website concerning the author, authenticity, origin, antiquity, provenance, measurements, condition of the lot, etc., is formed on the basis of statements made by their depositors and/or sellers, and where applicable, when expressly requested by them, after careful research and advice; however, Durán accepts no responsibility for their accuracy. In accordance with international custom, cataloged lots are sold with all their potential flaws and imperfections, including description errors, and buyers must, for these purposes, ensure before the auction or purchase that the description matches their personal opinion regarding the respective lot.

Condition Reports: any reference to the conservation state of the lots in the catalog description or in a condition report does not equate to a full description of the conservation state. The color and appearance of images may vary from reality. Condition reports are provided at the customer's request to help assess the lot's condition. These reports are free of charge, provided at the request of potential buyers, and prepared by Durán's team, who are not professional conservators or restorers and therefore serve as orientation. They express our opinion but do not constitute a list of flaws, defects, restorations, etc., and are not equivalent to a physical examination of the lot.

Durán reserves the right to organize the lots, change them, or subdivide them into several, in accordance with its prudent discretion; it may also combine two or more lots and withdraw them for justified cause.

The starting price and/or sale price of each lot is determined by mutual agreement between Durán and the Depositor/Seller; to this end, Durán conveys to the Depositor/Seller its best criteria and experience derived from its intervention as an intermediary in previous and analogous operations. The starting price and/or sale price of each lot is specified in the catalog and/or article description and does not necessarily bear relation to the object's actual value, usually being much lower. In live auctions and online auctions, the starting price will constitute the minimum selling price, except in exceptional cases where a reserve has been agreed upon with the Depositor/Seller, or Durán has decided to establish one discretionally.

In its capacity as intermediary, Durán will comply, when conducting the auction and/or direct sale management of the lots entrusted to it for that purpose, with the rules applicable and in force at any given time, as well as with commercial customs traditionally governing this type of operation, which are based on the principle of good faith.

Bids will be established and/or increased in accordance with the following scale:

In any case, in accordance with its experience, Durán may alter the bidding system in specific cases.

The auctioneer or Durán's management have the right to reject any bid that does not exceed the preceding one by the applicable amount.

The auctioneer or Durán's management may request ratification of a bid made, and may request, whenever they deem appropriate, bank references or other types of guarantees from the Adjudicatee/Buyer. They may also refuse any bid without needing to provide justification or explanation.

Lots will be awarded to the highest bidder. Any disagreement between two or more bidders regarding the amount constituting the highest bid, and in general, any difference arising between auction bidders, will be resolved by the auctioneer or Durán's management, who will award the lot to whomever they deem appropriate, in an unappealable manner.

If the auctioneer or Durán's management does not resolve the disagreement or difference arising between bidders, Durán shall have the faculty to proceed with a new auction of the lot in question during the same session or the immediately following one, or may proceed with a private sale of it.

Packing and transport expenses for the awarded lot shall always be borne by the Adjudicatee/Buyer, who shall be exclusively responsible for any damage caused to it during transport. The Adjudicatee/Buyer is responsible for obtaining and providing where appropriate, at their exclusive expense and cost, legal and administrative documentation, licenses, and permits of any kind including export and import permits, eventually required by public authorities and administrations, national and international, for the legal transport of lots awarded and/or acquired at Durán. If the Adjudicatee/Buyer so wishes and requests (bearing any costs and/or fees generated, if any), Durán may manage the export license on their behalf when necessary.

Awarded lots must be paid for by the Adjudicatee/Buyer within a maximum period of ten days and collected within a maximum period of TWENTY CALENDAR DAYS. Both periods count from the date of adjudication at the auction or online store purchase.

Once this latter period has elapsed without the Adjudicatee/Buyer collecting the acquired lot or lots, custody and storage expenses will accrue per lot amounting to 3 € per day (V.A.T. not included) for lots stored at 19 Goya Street and 6 € per day (V.A.T. not included) for furniture, lamps, rugs, and any object that due to size, volume, weight, or nature is stored at our premises at Camino de Hormigueras 160. No lot may be collected unless the amount generated for this concept has been paid.

Packing and transport expenses for lots that the Depositor/Seller must deliver to Durán's facilities for sale management in auction or online store shall always be borne by the Depositor/Seller, who shall be exclusively responsible for any damage caused during transport.

The Depositor/Seller is responsible for obtaining and providing where appropriate, at their exclusive expense and cost, legal and administrative documentation, licenses, and permits of any kind including export and import permits, eventually required by public authorities and administrations, national and international, for the legal transport of lots deposited at Durán. Durán may manage export or import licenses on behalf and at the expense of the Depositor/Seller when necessary.

Lots unsold at auction not collected by the Depositor/Seller within 20 calendar days from the auction date will generate storage expenses per lot of 3 € per day (V.A.T. not included) for lots stored at 19 Goya Street and 6 € per day (V.A.T. not included) for furniture, lamps, rugs, and objects stored at Camino de Hormigueras 160. No lot may be collected without paying this fee.

If the Depositor/Seller has agreed with Durán on a new starting price in auction, online store, or other media, no storage expenses will be generated until the next auction or sales campaign.

Live Auction: Durán provides the public, during exhibition days and hours, with an assistance service made up of a group of professionals who will provide information on conservation state, attributed author, market prices, or any other data related to lots included in auction catalogs.

Online Auctions and Sales: Durán provides the public, during opening hours, with a customer service and information team to inform about conservation status, attributed author, or any other data related to lots in online auctions and sales.

In both cases, these public services will be provided according to principles of good faith and Durán's reasonable criteria acquired through experience, without assuming responsibility for information or opinions provided.

Durán provides a valuation service that performs art appraisals in writing for insurance, estates, asset distribution, debt settlements, and others. For libraries, books, and manuscripts, this is done via a duly accepted budget; for paintings, jewelry, and other art objects, according to the following fees:

• 2 % on a total valuation under 9,000 €
• 1.5 % on a valuation between 9,000 € and 30,000 €
• 1 % on a total valuation exceeding 30,000 €

These fees do not include V.A.T. or expenses incurred from rendering valuation services outside the municipal term of downtown Madrid.

Live Auctions: individuals wishing to bid in live auctions must provide documentation that Durán will keep on file:

Spanish citizens (legal adults): D.N.I. or valid photo ID. If acting for a third party, written authorization accompanied by D.N.I. or valid ID is required.

Foreign residents in Spain (legal adults): N.I.E. or valid photo ID. Written authorization and valid ID required for third-party representation.

Foreign non-residents (legal adults): Passport or valid photo ID. Written authorization and valid ID required for third-party representation.

Legal entities: beneficial ownership act, public incorporation deed, tax identification number (N.I.F.) card, and document accrediting sufficient powers to act on behalf of the company.

Online auctions and sales: registration must be completed directly on the website www.duran-subastas.com, filling in mandatory fields (*) and immediately submitting scanned copies of identification documents.

Durán may also request bank references or other guarantees from the Adjudicatee/Buyer whenever deemed appropriate.

How to buy art at Durán Arte y Subastas.

Live auctions: Durán may bid publicly with written offers received from bidders via sale forms or electronic means. This service is free, and lots are awarded at the lowest price permitted by other bids and reserves. In case of tied written bids for the same amount, priority goes to the earliest date and time of receipt. Durán reserves the right to refuse offers received after 1:00 PM on auction day. Website written bids can be placed until 00:00 AM on auction day.

Phone bids: available for lots starting at 600 € or more, formally submitted in writing beforehand. Implies an obligation to cover at least the starting price. Durán is not responsible for phone connection failures, in which case Durán will cover the starting price.

Online auctions: bids can follow the established scale or automatic bids (maximum amount willing to pay). The system bids incrementally as other offers arrive. The closing time of a lot is automatically extended by 3 successive minutes if a bid is received in the last 3 minutes. The Buy Now option is also available 24/7.

Bidders in live auctions must fill out an application form for an accreditation paddle and agree to auction conditions. Valid photo ID is required.

Lots must be paid within 10 days and collected within TWENTY CALENDAR DAYS from adjudication or online purchase. Past this deadline, storage and custody fees of 6 € per day (V.A.T. not included) accrue.

After thirty calendar days without payment/collection, Durán Sala de Arte, S.L. may rescind the sale without prejudice to legal actions. Subsequent damages are the exclusive responsibility of the buyer.

Accepted payment methods:

• VISA or Mastercard credit/debit card (in-person only at facilities).
• Bank transfer (remote payments): Durán Sala de Arte S.L.U. | IBAN: ES19 2100 4904 4113 0019 6524 | SWIFT/BIC: CAIXESBBXXX.
• Certified bank check.
• Cash in offices up to the legal statutory limit.

The amount paid by the Adjudicatee/Buyer to Durán as commission or brokerage for mediation and taxes (including V.A.T. assumed by Durán) is 23 % of the hammer price for live and online auctions.

For online store items, prices already include the 23 % brokerage (V.A.T. included), making them final sale prices.

Authors' and heirs' rights over their works and creations will be respected in accordance with the Intellectual Property Law.

As a general rule, all artworks, books, and manuscripts over 100 years old destined for countries other than Spain (including the EU) require an export permit, as well as those under 100 years exceeding Regulation 116/2009 thresholds or inventoried. BIC-declared works are unexportable. Export applications and fees are the buyer's exclusive responsibility.

Unless expressly stated otherwise elsewhere in these General Conditions, all figures, fees, and amounts indicated are understood to be expressed without including V.A.T. or any other applicable tax.

In compliance with regulations on information society services and personal data protection, users are informed and consent to the incorporation of their data into a personal data file controlled by DURÁN SALA DE ARTE, S.L.U. (Calle Goya 19 - 1st floor, 28001 Madrid), where access, rectification, cancellation, and opposition rights may be exercised to receive commercial communications from the Durán Group.

Catalog expressions regarding authorship are governed by the following interpretive terms:

• Name and Surname: An authentic work by the mentioned artist.
• Attributed to: A probable work by the artist, with conflicting expert opinions.
• Initials: A work from the artist's period, totally or partially by their hand.
• Workshop of: A work by an unknown hand in the artist's workshop, not necessarily under their direction.
• Circle of: A work by an unidentified painter following the artist's style.
• Style of / Follower of: A work created working in the artist's style.
• After: A work by an imitator copying or following the style.
• Copy of: A copy of a famous work made much later.
• [Nationality] School [Century]: A work by an artist of that nationality and period or canons.
• Signed / With signature of / Dated / Dated [Year]: Terms regarding authenticity or added signatures/dates.
• Asterisk (*): Unknown artist name data, though potentially authentic.

Antique objects: Objects over 50 years old from creation are considered antiques.

Wrist and pocket watches: Movement has not been verified for time accuracy and may require maintenance at buyer's expense. Future functioning or component authenticity is not guaranteed due to prior repairs. May lack original strap or box/documentation unless expressly stated.

Wines: Durán does not guarantee the conservation condition of wines.

Frames and supports: May suffer damage during handling and transport. Durán assumes no responsibility or insurance for these elements; value resides solely in the artwork.