CONDITIONS OF BUSINESS FOR THE AFRICA FOUNDATION ART FOR AFRICA AUCTION TO BE HELD ON 21 SEPTEMBER 2009 AT SOTHEBY'S, 34-35 NEW BOND STREET, LONDON, W1A 2AA.

The property offered in this sale and listed in this catalogue will be sold by The Africa Foundation, registered with the Charity Commissioners under number 1092616. The Africa Foundation's intention in holding this auction, hosted by Sotheby's, is to raise as many charitable funds as possible. As a result, no commissions or buyer's premiums will be charged to any sale of property listed in this catalogue. Any questions in relation to the auction should be directed to The Africa Foundation and not to Sotheby's, which serves merely as auctioneer for The Africa Foundation in conducting the sale and participates on the following terms and conditions which govern the sale of all the property offered (as may be amended by any posted notices or oral announcements during the auction):

  • 1.(a) Neither Sotheby's nor The Africa Foundation assumes any risk, liability or responsibility for the authenticity or the authorship of any property identified in this catalogue (that is, the identity of the creator or the period, culture, source or origin, as the case may be, with which the creation of any property is identified herein).
  • (b) All property is sold with all faults and imperfections and errors of description and neither Sotheby's nor The Africa Foundation makes any representations or warranties of any kind or nature, expressed or implied, with respect to the property and in no event shall either of them be responsible for the correctness of any descriptions of property, nor be deemed to have made, any representations or warranties of physical condition, size, quality, rarity, importance, genuineness, attribution, authenticity or provenance of the property. No statement in the auction catalogue or other description made at the sale, in any sale invoice or elsewhere, shall be deemed such a representation or warranty.
  • (c) Prospective bidders should inspect the property before bidding to determine its condition, size and whether or not it has been repaired or restored.
  • (d) Property may be offered subject to reserves.
  • 2. Any property may be withdrawn by The Africa Foundation at any time before the actual sale.
  • 3. Unless otherwise announced by the auctioneer at the time of sale, all bids are per lot as numbered in the catalogue.
  • 4. Sotheby's and The Africa Foundation reserve the right to reject a bid from any bidder. The highest bidder acknowledged by the auctioneer shall be the purchaser. In the event of any dispute between bidders, the auctioneer shall have sole and final discretion either to determine the successful bidder or to re-offer and resell the lot in dispute. If any dispute arises after the sale, the sale records of The Africa Foundation shall be conclusive in all respects.
  • 5. If the auctioneer determines that any opening bid is not commensurate with the value of the property, he may reject the same and withdraw the property from sale, and if, having acknowledged an opening bid, he decides that any advance thereafter is insufficient, he may reject the advance.
  • 6. On the fall of the auctioneer's hammer, the highest bidder shall be deemed to have purchased the offered lot subject to all of the conditions set forth herein and thereupon (a) assumes the risk and responsibility thereof, (b) will sign a confirmation of purchase thereof and (c) will pay the full purchase price The Africa Foundation may require. The property will be removed immediately upon its sale to a MartinSpeed Limited storage facility. The Africa Foundation will not release a lot to a successful buyer until payment of the total amount due has been made. After payment, the purchaser shall promptly remove the property from MartinSpeed Limited's storage facility. If the property is not so removed within seven (7) days of its sale, it may be held by The Africa Foundation at its discretion in storage for the account, risk and expense of the purchaser and such charges (including interest expense) will then be added to the purchase price of the property. Neither Sotheby's nor The Africa Foundation will be responsible for any damage or loss to any purchased property in the transfer of such property from Sotheby's to the MartinSpeed storage facility or for any damage or loss to such property while in storage at the MartinSpeed storage facility. If the foregoing conditions and other applicable conditions are not complied with, in addition to other remedies available to The Africa Foundation by law including, without limitation, the right to hold the purchaser liable for the bid price, The Africa Foundation, at its option, may either (a) cancel the sale, retaining as liquidated damages all payments made by the purchaser or (b) resell the property on three (3) days notice to the purchaser and for the account and risk of the purchaser, either publicly or privately, and in such event the purchaser shall be liable for payment of any shortfall between the original sale price and the price achieved upon resale, all other charges due hereunder and any incidental damages.
  • 7. Payments for purchases must be made in Sterling and will be accepted only in the following forms; cheque (backed by cheque guarantee card) made payable to 'The Africa Foundation' and EFT transfer to:
  • Account name: The Africa Foundation
    Account number: 73780759
    Sort code: 20-45-05
    Swift: BARCGB22
    IBAN: GB78 BARC 2045 0573 7807 59
    Bank: Barclays Private Clients International Ltd
    39-41 Broad Street
    St. Helier,
    Jersey, JE4 8PU
    Reference: Lot number
  • 8. In the case of commission bids or bids transmitted by telephone, Sotheby's and The Africa Foundation are not responsible for failure to place such bids.
  • 9. In no circumstances will The Africa Foundation rescind any purchase made or refund the amount paid in respect of any lot.
  • 10. Neither shipping nor delivery costs are included in the price at which a lot is knocked down by the auctioneer to the buyer. In addition, to the extent applicable to a particular property, UK import taxes at the current rates will not be included in the price at which a lot is sold. The catalogue will identify and disclose to buyers which property is subject to UK import tax.
  • 11. The bidders and the purchaser of any property at the auction shall be deemed to have consented to the application of these Conditions of Business to him or her upon the purchase of such property.
  • 12. These Conditions of Business, as well as the purchaser's, The Africa Foundation's and Sotheby's respective rights and obligations hereunder, shall be governed by and construed and enforced in accordance with the laws of England and Wales. By bidding at an auction, whether present in person or by agent, commission bid, telephone or other means, the bidder and the purchaser shall be deemed to have consented to the exclusive jurisdiction of Courts of England and Wales.
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