General Information

Durán Arte y Subastas (hereinafter, “Durán Sala de Arte” or “Durán”), under the corporate name Durán Sala de Arte, S.L.U., Tax ID (C.I.F.) B28303022, registered in the Mercantile Register of Madrid, Volume 18,443, sheet 76, section 8, page M-67628, is a contracting center whose corporate purpose is the direct sale or sale by public auction of lots of goods, artistic objects, or items of a similar nature entrusted to it for such purpose.

Consequently, Durán Arte y Subastas 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.

The sale and/or auction of all products or lots presented on the Website www.duran-subastas.com (hereinafter, “the Website”) is subject to the general terms and conditions set forth below.

The use of this website constitutes acceptance of these general terms and conditions. However, should you have any questions regarding them, please contact us at:

Durán Sala de Arte S.L.U., calle Goya 19 – 1ª planta, 28001 Madrid.
Phone: +34 91 577 60 91 – Fax: +34 91 431 04 87
Email: [email protected]
Web: www.duran-subastas.com

Please send us your comments, suggestions, as well as any inquiries, complaints, or claims through the contact channels indicated above.

Users of this website declare that they are of legal age or emancipated and that they possess the necessary legal capacity to act and contract on this website in accordance with the terms detailed below, which they declare to understand and accept.

These terms constitute the entire agreement between you and us regarding their subject matter and supersede any other prior covenant, agreement, or promise made between you and Durán, whether verbally or in writing.

We reserve the right to modify these Purchase and Auction Terms at any time in order to adapt them to prevailing legal and economic circumstances. Any modifications introduced shall not have retroactive effect and, once published, shall come into force starting from your next purchase or auction made through the website.

Live auctions: lots to be auctioned in the saleroom will be exhibited prior to the auction on the company's premises 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 properly cataloged and described on the website. Persons wishing to buy in either Durán's online auctions or online sales must check the condition and other specifications of the item they wish to acquire to ensure the description matches their assessment. To this end, Durán provides a customer service team composed of professionals during saleroom opening hours, who will provide information on the state of preservation, the attributed author, or any other data related to the lots included in Durán's auction and online sale catalogs.

Said customer service will be provided in accordance with the principles of good faith and Durán's reasonable and well-founded judgment acquired through experience, without Durán assuming any liability regarding the information and opinions provided.

Any statement regarding the lots contained in the catalog and/or website concerning the author, authenticity, origin, age, 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 eventual faults and imperfections, including description errors, and buyers must therefore ensure before the auction or purchase that the description matches their personal opinion regarding the respective lot.

Condition reports: any reference to the conservation condition of the lots in the catalog description or in a condition report does not equate to a full description of the state of conservation. The color and appearance of images may differ from reality. Condition reports are provided upon customer request to help evaluate the condition of the lot. 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—serving merely as guidance. They express our opinion but do not constitute a list of flaws, damages, 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 according to its prudent discretion; it may also combine two or more lots and withdraw them for a 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 shares its best judgment and experience derived from its intervention as an intermediary in previous and similar operations. The starting price and/or sale price of each lot is specified in the catalog and/or item description and does not necessarily bear a relation to the object's actual value, generally being much lower. In live auctions and online auctions, the starting price shall constitute the minimum sale 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 an intermediary, when conducting the auction and/or managing the direct sale of the lots entrusted to it for such purpose, Durán shall comply with the rules applicable and in force at any given time, as well as the commercial customs traditionally governing this type of operation, which are based on the principle of good faith.

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

In any case, based on 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 applicable increment required in each case.

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

Lots shall be knocked down to the highest bidder. Any disagreement between two or more bidders regarding the amount that constituted the highest bid, and in general, any difference arising between bidders in an auction, shall be settled by the auctioneer or Durán's management, who shall award the lot to whomever they deem appropriate, in an unappealable manner. If the auctioneer or Durán's management fail to resolve the disagreement or difference between bidders, Durán shall have the right to put the lot in question up for auction again in the same session or the immediately following one, or proceed with a private sale of the same.

The packing and transport costs of the awarded lot shall always be borne by the Successful Bidder/Buyer, who shall be exclusively responsible for any damage that may occur to it during transport. The Successful Bidder/Buyer is responsible for obtaining and providing where appropriate, at their exclusive expense, the legal and administrative documentation, licenses, and permits of any kind—including export and import permits—that may eventually be required by public authorities and national and international administrations for the legal transport of lots awarded and/or acquired at Durán. If desired and requested by the Successful Bidder/Buyer (at whose expense any generated costs and/or fees shall run, if any), Durán may manage the export license on their behalf when necessary.

Awarded lots must be paid for by the Successful Bidder/Buyer within a maximum period of ten days and collected within a maximum period of TWENTY CALENDAR DAYS. Both periods shall be counted from the date of adjudication at the auction or the date of purchase via direct sale. Once this latter period has elapsed without the Successful Bidder/Buyer having collected the acquired lot or lots, custody and storage fees shall accrue per lot amounting to €3 per day (VAT not included) for lots stored at the facilities located at 19 Goya Street, and €6 per day (VAT not included) for furniture, lamps, carpets, and any object that due to size, volume, weight, or nature is stored at our premises at 160 Camino de Hormigueras. No lot may be collected unless the amount generated by this concept has been paid.

The packing and transport costs of the lots that the Depositor/Seller must deliver to Durán's facilities for sale management via auction or direct sale shall always be borne by the Depositor/Seller, who shall be exclusively responsible for any damage that may occur to them during transport. The Depositor/Seller is responsible for obtaining and providing where appropriate, at their exclusive expense, the legal and administrative documentation, licenses, and permits of any kind—including export and import permits—that may eventually be required by public authorities and national and international administrations for the legal transport of the lots deposited at Durán. Durán may manage the export or import license on behalf and at the expense of the Depositor/Seller when necessary.

Lots that remain unsold at the auction and are not collected by the Depositor/Seller within 20 calendar days from the date the auction took place shall generate storage costs for each lot amounting to €3 per day (VAT not included) for lots stored at 19 Goya Street, and €6 per day (VAT not included) for furniture, lamps, carpets, and any object that due to size, volume, weight, or nature is stored at our premises at 160 Camino de Hormigueras. No lot may be collected unless the amount generated by this concept has been paid.

In the event that the Depositor/Seller has agreed with Durán on a new starting price in an auction, direct sale, or other electronic and commercial means, systems, and platforms—whether proprietary or belonging to other companies in the Corporate Group to which it belongs—no storage costs shall accrue until the next auction or sales campaign takes place.

Live auction: Durán provides a customer service team composed of professionals during exhibition days and hours, who will supply information regarding the state of preservation, attributed author, market prices, or any other data related to the lots included in the auction catalogs.

Online auctions and sales: Durán provides a customer and information service composed of professionals during opening hours, who will supply information regarding the state of preservation, attributed author, or any other data related to the lots included in online auctions and sales. In both cases, such customer services shall be provided in accordance with the principles of good faith and Durán's reasonable and well-founded judgment acquired through experience, without Durán assuming any liability regarding the information and opinions provided.

Durán has a valuation service that carries out art appraisals in writing for insurance, probate, distribution of assets, debt settlement adjudications, and other purposes. These appraisals are carried out, in the case of libraries, books, and manuscripts, upon a duly accepted budget, or in the case of paintings, jewelry, and other art objects, in accordance with the following fee schedule:

2% on a total valuation of less than €9,000

1.5% on a valuation between €9,000 and €30,000

1% on a total valuation exceeding €30,000

The aforementioned fees do not include VAT, nor do they include expenses incurred as a result of rendering valuation services outside the municipal boundaries of Madrid capital.

Live auctions: individuals wishing to bid in live auctions must provide the following documentation, which Durán will keep in its archives:

In the case of Spanish of-age individuals, the buyer must present their D.N.I. (National Identity Document) or a valid photo ID document. If the purchase is made on behalf of a third party, written authorization accompanied by a D.N.I. or valid ID document must be provided, assuming the truthfulness and responsibility of said authorization.

In the case of foreign of-age individuals residing in Spain, the buyer must present their Foreigner Identification Number (N.I.E.) or a valid photo ID document. If the purchase is made on behalf of a third party, written authorization accompanied by a D.N.I. or valid ID document must be provided, assuming the truthfulness and responsibility of said authorization.

In the case of foreign of-age individuals, the buyer must present their passport or a valid photo ID document. If the purchase is made on behalf of a third party, written authorization accompanied by a valid ID document must be provided, assuming the truthfulness and responsibility of said authorization.

In the case of legal entities, the buyer must present the public deed of incorporation, beneficial ownership record, Tax Identification Number (N.I.F.) card, as well as a document accrediting sufficient powers to act on behalf of the company.

Online auctions and sales: the registration of any individual or legal entity wishing to make purchases via Durán's online services (auctions and direct sales) must be completed directly on the website www.duran-subastas.com.

Requirements to be a user of Durán's electronic and telematic applications:

Registration shall be carried out only once, filling in all fields marked with an asterisk (*). The user may access their data and purchase history using the access credentials they have chosen themselves.

Registration of individuals:

Users of Spanish nationality who are of legal age must send a scanned copy of their D.N.I. or valid ID document immediately after registering their data for the first time on Durán's web application.

Foreign users residing in Spain who are of legal age must send a scanned copy of their Foreigner Identification Number (N.I.E.) or valid ID document immediately after registering their data for the first time on Durán's web application.

Foreign users not residing in Spain who are of legal age must send a scanned copy of their passport or valid ID document immediately after registering their data for the first time on Durán's web application.

Registration of legal entities:

Companies and corporations registering as users on Durán's electronic and telematic applications must send, immediately after registering their data, a scanned copy of the company's incorporation deed, the Tax Identification Number (N.I.F.), and the D.N.I. or valid ID document of the person(s) accredited with sufficient powers to act on behalf of the company.

Similarly, Durán may request bank references or other types of guarantees from the Successful Bidder/Buyer of one or more lots whenever it deems appropriate.

Live auctions: Durán may bid by making public, at the appropriate time and according to the circumstances of each auction, written bids received from bidders, formalized on forms provided for this purpose by the saleroom or through any other electronic or telematic means. This service is free of charge. Lots will be knocked down at the lowest price permitted by other bids and reserve prices, if such have been established.

If more than one written bid is received for the same lot for the same amount, priority for potential auction adjudication will be given to the first bid received by Durán, according to its date and time of receipt. Durán reserves the right to refuse bids received after 1:00 PM on the day the auction is to be held, without needing any justification or explanation.

For lots to be auctioned in the saleroom, written bids can be placed via the website www.duran-subastas.com during the days prior to the auction and up to 12:00 AM on the day of the auction. These bids will be treated with the same consideration as those described above.

Telephone bids may also be made for lots with a starting price equal to or greater than €600, which must likewise be formalized in writing on forms provided for this purpose by the saleroom or via any other electronic or telematic means. An order to place a telephone bid implies that the bidder undertakes at least to cover the starting price. Durán is not responsible for a failure to establish telephone contact or the loss thereof. In such cases, Durán will cover the bidder's starting price.

In the event of a tie between a bid made in the saleroom and a written bid, the latter shall take preference.

Online auctions: bids may be placed following the bidding scale established by Durán, as well as automatic bids, understood as the maximum amount the buyer is willing to pay. Lots will be knocked down at the lowest price permitted by other bids and reserve prices, if established. Bidders will automatically receive an email notification, if requested, in the event that their offer has been surpassed, so they can place a higher bid if they wish.

You can register an autobid for the maximum limit you are willing to bid. An Autobid is a system whereby the system will bid on your behalf only when other bids are received, up to the limit indicated by you, if necessary.

Two autobids of the same amount cannot be registered, nor can an autobid lower than an existing one be registered. If this happens, the system will display an on-screen warning indicating this fact and will not save the latest one.

If an autobid higher than yours is received, your indicated limit will be automatically surpassed by one bid. You will receive an email informing you that your autobid has been surpassed.

The established closing time for a lot's auction will be extended successively by 3 minutes if any bid is received during the last 3 minutes, to give all bidders of this lot the opportunity to bid on it again.

Persons wishing to bid in the auction must fill out the accreditation paddle request form for their future purchases and agreement with the auction conditions, which will be provided by the Saleroom at the tables set up for this purpose, where each bidder will subsequently be handed their corresponding number.

The Saleroom will request the presentation of a D.N.I. or valid photo ID document. If registration is made on behalf of a third party, written authorization accompanied by a D.N.I. or valid ID document must be provided. If it is a legal entity, the public deed of incorporation, Tax Identification Number (N.I.F.) card, and a document accrediting sufficient powers to act on behalf of the company must be provided.

In the case of new clients, Durán will keep a copy of the documents provided in its archives.

Live auctions: Lots will be knocked down to the highest bidder. Any disagreement between two or more bidders regarding the amount of the highest bid, and generally any difference arising between bidders in an auction, shall be settled by the auctioneer or Durán's management, who shall award the lot to whomever they deem appropriate, in an unappealable manner. If the auctioneer or Durán's management fail to resolve the disagreement or difference between bidders, Durán shall have the right to put the lot in question up for auction again in the same session or the immediately following one, or proceed with a private sale of the same.

Online auctions: lots will be knocked down to the highest bidder at the time the auction finishes and closes.

In all cases, Durán will notify the Successful Bidders/Buyers of the auction results and the lots awarded to them, which must be paid for by the Successful Bidder/Buyer within a maximum period of ten days and collected within a maximum period of TWENTY CALENDAR DAYS, both periods counted from the date of adjudication at the auction or the purchase date in direct sale. Once this latter period has elapsed without the Successful Bidder/Buyer having collected the acquired lot or lots, custody and storage fees shall accrue per lot amounting to €6 per day (VAT not included). No lot may be collected unless the amount generated by this concept has been paid.

Once thirty calendar days have elapsed from the auction date without the buyer having paid for and/or collected the lots, Durán Sala de Arte, S.L. may declare the sale rescinded, without prejudice to any legal actions it may take in such a situation. As for any damage that may occur to the awarded lots, it shall be the exclusive responsibility of the successful bidder/buyer.

ACCEPTED PAYMENT METHODS

- VISA or Mastercard credit or debit card

- Bank transfer to:

• Durán Sala de Arte S.L.U.

• ELECTRONIC IBAN FORMAT: ES1921004904411300196524
• PAPER IBAN FORMAT: ES19 2100 4904 4113 0019 6524
• SWIFT / BIC: CAIXAESBBXXX

- Certified bank check

- Cash at our offices up to the maximum amount legally established.

The amount that the Successful Bidder/Buyer shall pay to Durán as fees or commission for its mediation in the transaction and taxes, including VAT assumed by Durán, shall be 23% of the hammer price in the case of lots acquired in live auctions and online auctions.

In the case of items for online sale, the indicated prices include the 23% saleroom commission (VAT included), and are therefore final sale prices.

The amounts corresponding to packing, insurance, transport, and storage costs of the lots, as they accrue after adjudication (see section "PACKING, TRANSPORT, AND STORAGE COSTS. SPECIAL PERMITS. (BUYER)" of these terms), shall be paid independently to Durán, along with their corresponding taxes by the Successful Bidder/Buyer.

The rights of authors and their heirs over their works and creations shall be respected in accordance with the Intellectual Property Law.

As a general rule, all works of art, books, and manuscripts over 100 years old whose destination is any country other than Spain, including European Union countries, must apply for an export permit. This also applies to those under 100 years old that exceed the amounts established by Regulation 116/2009 or are inventoried. Works declared a Good of Cultural Interest (BIC) shall be unexportable regardless of their age and/or valuation.

The export authorization request shall be made by the buyer, who shall bear sole responsibility for exporting the acquired lots and paying the fees for those destined for countries outside the European Union.

Unless expressly stated otherwise elsewhere in these General Terms, all figures, fees, and amounts indicated herein shall be understood to be expressed without including VAT or any other tax that may be exigible.

In compliance with Law 34/2002, of July 11, on Information Society Services and Electronic Commerce, and Organic Law 15/1999, of December 13, on the Protection of Personal Data, you are hereby informed and give your express and unequivocal consent to the incorporation of your data into a personal data file whose Controller is DURÁN SALA DE ARTE, S.L.U., calle Goya 19 - 1ª planta, 28001 Madrid, where you may exercise your rights of access, rectification, cancellation, and opposition by means of a communication addressed to Central Services.

All of the above is for the purpose of sending you, including by electronic means, communications and/or publications relating to the various services, promotions, events, and commercial information of the Durán Group, all of them related to the activities proper to the companies of the Durán Group, unless you indicate otherwise by requesting it in writing and providing a photocopy of your National Identity Document to DURÁN SALA DE ARTE S.L.U., Calle Goya 19 - 1ª planta, 28001 Madrid.

Any statement printed in the catalog referring to the authorship, authenticity, attribution, origin, date, age, provenance, and condition of the lots is always the expression of an opinion governed by the interpretive terms detailed below:

a) FRANCISCO DE GOYA Y LUCIENTES (FIRST AND LAST NAME).- Means that, in our opinion, it is an authentic work by the mentioned artist.

b) ATTRIBUTED TO FRANCISCO DE GOYA Y LUCIENTES (FIRST AND LAST NAME).- Means that, in our opinion, it is a probable work by the mentioned artist, taking into account the existence of conflicting opinions by well-known experts or authorities on the subject.

c) F. DE GOYA Y LUCIENTES (INITIAL OR INITIALS OF FIRST AND LAST NAME).- Means that, in our opinion, it is a work from the period of the mentioned artist and may be wholly or partially by his hand.

d) WORKSHOP OF FRANCISCO DE GOYA Y LUCIENTES (FIRST AND LAST NAME).- Means that, in our opinion, it is a work executed by an unknown hand in the workshop of the mentioned artist, not necessarily under his direction.

e) CIRCLE OF FRANCISCO DE GOYA Y LUCIENTES (FIRST AND LAST NAME).- Means that, in our opinion, it is a work executed by an unknown painter or one not identified by us, but seemingly following the style of the mentioned artist, although not necessarily his disciple.

f) STYLE OF....... AND FOLLOWER OF FRANCISCO DE GOYA.- Means that, in our opinion, it is a work executed by a painter working in the style of the mentioned artist, who may or may not be contemporary with him, but not necessarily his disciple.

g) AFTER FRANCISCO DE GOYA.- Means that it is a work by an imitator copying or following the style of the mentioned artist.

h) COPY OF FRANCISCO DE GOYA.- Means that, in our opinion, it is a copy of a famous work by the mentioned artist, with or without variations in composition, color, or other nuances, executed at a time much later than its execution.

i) SPANISH SCHOOL 18TH CENTURY (School with date).- Means that, in our opinion, it is a work executed by an artist of this nationality or working in Spain during the 18th century or according to the canons of this period.

j) SPANISH SCHOOL (School without date).- Means that, in our opinion, it is a work executed following the style of a specific or indeterminate Spanish artist, regardless of the period or nationality of its author.

k) The term SIGNED means that, in our opinion, the signature is authentic to the artist or executed with his knowledge.

l) The term BEARING THE SIGNATURE OF means that, in our opinion, the signature was executed by a hand other than that of the mentioned artist and without his knowledge.

m) The term DATED means that, in our opinion, the date is by the hand of the mentioned artist.

n) The term BEARING THE DATE OF.... means that, in our opinion, the date was added by a hand other than that of the artist.

o) When we place an asterisk (*) preceding the artist's designation, we mean that we have no further information regarding the artist's name, although it may be an authentic work.

For catalog purposes, all objects that are more than fifty years old from their date of creation are considered antiques.

Please note that the movement has not been verified for timekeeping accuracy and may require maintenance at the buyer's expense. Durán Subastas does not guarantee the proper future functioning of the movement or the authenticity of each individual component, as prior repairs and restorations may have resulted in the replacement of original parts. In addition, the watch may not include the manufacturer's original strap or band. Watches are supplied with a box or documentation only when expressly mentioned in the catalog.

Potential buyers are advised to review the General Terms and any Important notices in the catalog and during the auction.

Durán does not guarantee the conservation condition of wines.

During transit, assembly, and handling of pieces, frames and/or supports may suffer damage. Durán Sala de Arte S.L.U. assumes no responsibility for the conservation condition of these elements, nor are they covered by any insurance. Unless expressly indicated in the deposit receipt, the value of the piece lies solely in the artistic work, without any consideration given to the accompanying frame and/or support.

Durán presumes that the Depositor/Seller possesses the necessary legal capacity to contract, peaceful possession, and full power of disposition over the goods subject to auction or sale. The Depositor/Seller releases Durán from all liability and shall fully assume any consequences, damages, and expenses that may eventually arise from defects in capacity, title, or free disposition of the Depositor/Seller, or on the occasion of claims made by third parties regarding objects deposited for auction or sale.

In the case of individuals, the Depositor/Seller must present their D.N.I. or a valid photo ID document. If the sale or deposit is made on behalf of a third party, written authorization accompanied by a D.N.I. or valid ID document must be provided, assuming the truthfulness and responsibility of said authorization.

In the case of a legal entity, the Depositor/Seller must present the public deed of incorporation, beneficial ownership record, Tax Identification Number (N.I.F.) card, and a document accrediting sufficient powers to act on behalf of the company.

Durán will keep a copy of the documents provided in its archives.

Durán will deliver the admission receipt and, as an annex document thereto, a copy of these General Terms.

At the time of depositing a lot, the Depositor/Seller must present their D.N.I. or a valid photo ID document. Durán will deliver the admission receipt.

If the deposit is made as an individual, the Depositor/Seller must present their D.N.I. or a valid photo ID document. If the sale or deposit is made on behalf of a third party, written authorization accompanied by a D.N.I. or valid ID document must be provided, assuming the truthfulness and responsibility of said authorization.

In the case of a legal entity, the Depositor/Seller must present the public deed of incorporation, Tax Identification Number (N.I.F.) card, and a document accrediting sufficient powers to act on behalf of the company.

In the receipt, they shall declare that they know the contents of these terms and are therefore subject to them.

Objects and works of art will be accepted in the condition they are in, and Durán will not accept any claims regarding restorations, breakages, damages, etc., even if they have not been recorded in the corresponding admission receipt.

Durán reserves the right to accept or reject lots offered to it for auction or direct sale.

Upon acceptance of each lot, and always based on the statements made regarding it by its owner and/or seller, Durán will proceed to describe it in the corresponding admission receipt.

Once a lot has been accepted, as delivered by the owner and/or seller, Durán shall act as its custodian. Likewise, it will proceed to its expert evaluation and appraisal by qualified personnel, as well as its restoration, framing, conservation, and/or cleaning work, all to the extent expressly requested by the Depositor/Seller.

The price of the aforementioned operations or services shall be paid by the Depositor/Seller to Durán, at Durán's discretion, in advance and separately; or the corresponding amount shall be deducted by Durán when settling with the Depositor/Seller for the lots once they have been sold, auctioned, and adjudicated.

The reproduction of lots in Durán's catalogs shall be borne by the Depositor/Seller; any statement contained in the catalog regarding the author, origin, age, provenance, and condition of the lot is formed on the basis of statements made by its owners and/s, and where applicable, when expressly requested by them, after careful research and advice; however, Durán accepts no responsibility for their accuracy. Buyers must form their own opinion on various aspects.

Management and inclusion fees with photographs of the lots in the catalog, as well as their reproduction via engravings or photographs, shall be borne by the Depositor/Seller, with amounts determined by the following scale:

In the case of books included in the "Only by Bids" auction, management fees (VAT included) shall be in accordance with the following scale based on the starting price:

The Depositor/Seller grants Durán the right to photograph and illustrate any lot to be auctioned, as well as the possibility of using such photographs and illustrations at its absolute discretion, including for these purposes the use of electronic media, systems, and platforms.

If requested by a Depositor/Seller, Durán can develop an advertising campaign aimed at promoting the lot to be auctioned and/or sold. The prices of such a campaign shall be appropriately agreed upon and paid by the Depositor/Seller.

The starting price or base for direct sale of each lot, as well as the sale modality (live auction, online auction, or direct and/or online sale), shall be determined by mutual agreement between Durán and the Depositor/Seller; to this end, Durán will share its best judgment and experience derived from its intervention as an intermediary in previous and similar operations.

The starting price or base price for the sale of each lot will be specified in its corresponding admission receipt and in the catalog and will constitute the minimum sale price, except in exceptional cases where a reserve may be agreed upon with the Depositor/Seller or Durán decides to establish one discretionally.

Durán will insure deposited lots at the starting price or base price for sale, with the corresponding costs borne by the Depositor/Seller, which shall be 0.6% of said starting/base price.

Lots put up for auction and unsold in the session scheduled for that purpose will automatically be consigned to direct sale across various electronic and commercial media, systems, and platforms belonging to Durán or other companies in the Corporate Group to which it belongs.

Durán will inform the Depositor/Seller of the result of their lots in the auction via ordinary mail or email.

The Depositor/Seller has a period of 20 calendar days to collect unsold lots, counting from the date of the session in which they were auctioned, paying the expenses and services listed in the "MANAGEMENT AND REPRODUCTION FEES" section of these Terms, as applicable in each case and if not already paid in advance.

Lots that remain unsold at the auction and are not collected by the Depositor/Seller within 20 calendar days from the date the auction took place shall generate storage costs for each lot amounting to €3 per day (VAT not included) for lots stored at 19 Goya Street, and €6 per day (VAT not included) for furniture, lamps, carpets, and any object that due to size, volume, weight, or nature is stored at Durán's premises. No lot may be collected unless the amount generated by this concept has been paid.

In the event that the Depositor/Seller has agreed with Durán on a new starting price in an auction or base price for direct sale or sale through other electronic and commercial media, systems, and platforms—whether proprietary or belonging to other companies in the Corporate Group to which it belongs—no storage costs shall accrue until the next auction or sales campaign takes place.

Likewise, once said 20-calendar-day period has elapsed, it shall be understood that said lot remains in Durán's possession so that, expressly authorized for these purposes by the Depositor/Seller, as an intermediary and without prior notice, it may proceed to a new auction of the same, with Durán being able in this case to set the starting price it considers most prudent. For these stated purposes, Durán is also expressly authorized and empowered to use electronic and commercial media, systems, and platforms, whether proprietary or belonging to other companies in the Corporate Group to which it belongs, that it deems appropriate.

In cases where the Depositor/Seller delivers an object or work of art requesting certifications or appraisals from experts outside Durán, the professional fees and expenses arising from such circumstance shall be exclusively borne and paid by the Depositor/Seller, and Durán accepts no responsibility for errors in grading or expert evaluation performed by them.

The Depositor/Seller authorizes Durán to deduct or invoice, from the hammer price in the auction and/or sale, any expenses incurred up to the moment the auction or sale takes place, as well as the taxes corresponding to these expenses at the rate in force and applicable at any given time.

The aforementioned expenses shall be paid to Durán in accordance with any of the alternatives provided in these General Terms.

All of the above shall apply to objects sold at auction and/or in direct sale subsequent to the auction or direct sale campaign.

In the event that the Depositor/Seller decides, after including a lot in an upcoming auction or direct sale, not to carry out the sale for which they requested Durán's mediation, Durán shall have the right to demand from them, by way of incurred expenses and compensation:

I – an amount equivalent to 22% of the value set as the reserve price, if established, or failing that, of the starting price or base price value.

II – the full reimbursement of expenses and services effectively incurred and rendered up to that moment, listed in the "MANAGEMENT AND REPRODUCTION FEES" section of these Terms.

When settling with the Depositor/Seller for the auctioned or sold lot, Durán shall deduct from the hammer amount, for the mediation performed, a percentage by way of fees or commission. This commission does not include VAT. Said percentage shall be established by mutual agreement between the Depositor/Seller and Durán for each deposited lot and shall appear on its corresponding admission receipt.

Once 30 calendar days have elapsed from the adjudication at auction or sale of a lot without its Successful Bidder/Buyer having proceeded to pay the corresponding hammer price, Durán will make its best efforts and offices to obtain the relevant amounts from said Successful Bidder/Buyer. If such efforts fail, the Depositor/Seller may choose between two alternatives:

I – put the lot up for auction again.

II – confer procedural representation to Durán, its lawyers and/or solicitors, to initiate the relevant judicial claim, in which case the Depositor/Seller assumes the expenses derived or accruing from such judicial proceedings.

In the event that the Depositor/Seller does not act or give instructions to Durán regarding either of the indicated alternatives in the preceding paragraph, the Depositor/Seller expressly authorizes Durán to proceed, without prior notice, to the direct sale of the lot in question, or to its new auction at the starting price and/or minimum sale price previously set, with Durán being expressly empowered to use for these purposes electronic and commercial media, systems, and platforms, whether proprietary or belonging to other companies in the Corporate Group to which it belongs, that it deems appropriate.

Durán will settle with the Depositor/Seller the corresponding amount, after deductions for expenses, Durán's commission, author's royalties—if applicable—and taxes, starting 30 (thirty) days after the date the auction took place or the sale was made, provided the lot has been paid for by the Successful Bidder/Buyer. In the event of non-payment by the Successful Bidder/Buyer, the provisions contained in the "ASSIGNMENT OF ACTIONS IN JUDICIAL CLAIM" section of these Terms shall apply.

In cases where the depositor/seller is a legal entity, they shall issue an invoice to Durán Sala de Arte S.L.U., applying VAT according to the REBU (Special Scheme for Second-Hand Goods) or General VAT regime. In the latter case, the invoice shall be for the hammer amount, VAT included.

Exceptionally, and for cases where the Administration exercises its right of pre-emption (tanteo), the settlement of the corresponding amount will proceed in accordance with the payment procedure and deadlines specifically provided for these cases by Law.

The rights of authors and their heirs over their works and creations shall be respected in accordance with the Intellectual Property Law. Where appropriate, the corresponding deduction shall be applied to the adjudication and/or sale price of works by authors subject to the Intellectual Property Law, which shall be borne by the Depositor/Seller.

Live auctions: Lots transferred to Durán's warehouse at Camino de Hormigueras 160, 28031 Madrid, may be collected at said warehouse once full payment has been made and upon presentation of the delivery order that Durán will provide.

The Successful Bidder/Buyer may request a quote from the transport company MBS (phone: +34 91 541 48 94) for the packing, shipping, and insurance costs of lots acquired at auction, from Durán's warehouses to the destination requested by the Successful Bidder/Buyer. MBS will advise on the most suitable and economical means of transport.

Online auctions and sales: Once the shopping cart is confirmed, select the shipping or collection method:

Lots stored at Durán's facilities at Camino de Hormigueras 160, 28031 Madrid, may be collected Monday through Friday from 9:00 AM to 3:00 PM by prior arrangement and presentation of the delivery order that Durán will provide to the Successful Bidder/Buyer or send to the warehouse staff.

Lots stored at Goya 19, 28001 Madrid, may be collected during saleroom hours, Monday through Friday from 10:00 AM to 1:45 PM and from 5:00 PM to 8:00 PM, by prior arrangement and presentation of the delivery order that Durán will provide to the Successful Bidder/Buyer or send to the saleroom staff.

Home delivery: the system will ask for the shipping address and show the shipping amount, VAT included.

The shipping costs provided by the computer system include packing, shipping, VAT, and minimum insurance coverage in accordance with L.O.T.T. Royal Decree No. 1211/1990, Regulations developing Law 16/1978 of July 30 on Land Transport Organization, whereby the liability of freight carriers for damage, loss, or breakdown suffered by goods shall be limited to €4.51 per kilo.

However, if you wish to insure the merchandise for the full amount (up to a maximum of €10,000 -ten thousand euros-) in addition to coverage against damage, loss, or breakdown, you must check the corresponding box to contract additional private insurance. The system will recalculate the shipping and packing costs, adding 4.5% of the insured value as insurance costs.

Transport will be carried out within a maximum period of 10 days from the moment the order is confirmed.

SHIPMENTS AND COLLECTIONS DURING HOLIDAY PERIODS: during holiday periods (Easter, Christmas, and August), the saleroom's offices and warehouse will remain closed. For this reason, shipments and collections of orders received during these dates will be processed on the first business days immediately following the holidays.

Shipments will only be made to the Spanish mainland and the Balearic Islands. For purchases with shipments to the Canary Islands, Ceuta, Melilla, and abroad, you must contact Durán.

Lots that appear in the catalog with the sign ‡ preceding the lot number will be taken to Durán's warehouse at Camino de Hormigueras 160, 28031 Madrid. These lots are subject to storage fees as indicated in the "ADJUDICATION AND STORAGE COSTS" and "UNSOLD LOTS" sections of these Terms.

Exchanges will not be accepted. The right of withdrawal does not apply.

Items offered by Durán—whether in live auctions, online auctions, online sales, and/or direct sale management—are offered in the condition they were in at the time of deposit. Therefore, during saleroom opening hours, we place at your disposal a customer service team composed of experts who will provide information on the conservation condition, attributed author, or any other data related to items available for purchase or bidding.

Said customer service will be provided in accordance with the principles of good faith and Durán's reasonable and well-founded judgment acquired through experience, without Durán assuming any liability regarding the information and opinions provided.

Only in cases where the object received by the Successful Bidder/Buyer does not correspond to the description or has major defects not indicated in the description shall the Successful Bidder/Buyer have 14 (fourteen) calendar days from the date of receipt of the shipment to return the object.

Durán will refund the sale amount via bank transfer to an account whose holder is the Successful Bidder/Buyer named on the invoice, once the object is received in the same condition in which it was delivered. Packing and transport costs shall be borne by the Successful Bidder/Buyer, who shall be exclusively responsible for any damage that may occur to it during transport. Any other expense generated by the return shall be at the risk and expense of the Successful Bidder/Buyer.

In cases of discrepancy regarding authenticity, it must be accredited by means of a written report by a recognized authority on the subject.

Moldings and frames of paintings and other similar objects are decorative accessories that do not form an integral part of the described object, and therefore claims or returns regarding their state of conservation will not be accepted.

If you wish to subscribe to our catalogs for a period of one year, download our subscription form and send it duly completed and signed via email to [email protected], or by fax to +34 91 431 04 87.

Subscription price (VAT included):

The subscription amount may be paid in cash or with a VISA or Mastercard credit or debit card at our offices at Goya 19 – 1ª planta, 28001 Madrid, or via:

- Bank transfer to:

• ELECTRONIC IBAN FORMAT: ES1921004904411300196524
• PAPER IBAN FORMAT: ES19 2100 4904 4113 0019 6524
• SWIFT / BIC: CAIXAESBBXXX

- Certified check or payee draft

If you, as a consumer, consider that your rights have been violated, you can direct your complaints to the email address [email protected] in order to request an extrajudicial dispute resolution.

In this regard, if the purchase between you and us was concluded online through our Website, in accordance with Article 14.1 of Regulation (EU) 524/2013, we inform you that the European Commission provides an online dispute resolution platform available at the following link: http://ec.europa.eu/consumers/odr/.

In the event that discrepancies arise between the parties by reason of auction operations, the depositor/seller, the successful bidder/buyer, and the Saleroom itself submit to the jurisdiction of the Spanish Courts and Tribunals.

Operations in which the Saleroom intervenes, as regards their legal qualification and ensuing effects, are subject to the rules of Spanish Law and more specifically to the provisions regulating mediation and deposit contracts.

Copyright: ©2025 Durán Sala de Arte, S.L.U. Total or partial reproduction prohibited. Legal Information.