Legal
Conditions of sale
Illustrative template terms — replace with counsel-reviewed terms before trading.
1. The auction house as agent
Aurum & Co. generally acts as agent for the seller of each lot offered at auction, unless a lot is expressly identified as sold on the house's own account. The contract of sale is formed directly between seller and buyer; the house facilitates, administers and guarantees settlement of the transaction on the terms set out here.
2. Estimates and reserves
Pre-sale estimates are the opinion of our specialists as to the likely hammer price of a lot and are not a valuation for insurance or any other purpose. Estimates exclude buyer's premium. Lots may be subject to a reserve, a confidential minimum price agreed with the seller below which the lot will not be sold.
3. Buyer's premium
A buyer's premium of 25% is payable by the buyer on the hammer price of each lot, in addition to the hammer price itself. Published results are shown inclusive of buyer's premium unless otherwise stated.
4. Enquiries and private sales
There is no online bidding on this site. Interest in a catalogued lot, or in a piece offered through private sale, is registered by enquiry to our specialists, who will provide condition detail, provenance and guidance ahead of any commitment to buy or sell. Enquiries may be made via our consignment and contact forms or directly to enquiries@example.com.
5. Condition of lots
All lots are sold in the condition they are in at the time of sale. Condition reports are prepared in good faith as a courtesy to prospective buyers and do not amount to a representation or warranty of condition. Buyers are encouraged to request a condition report, or to inspect a lot in person during previews, before making an enquiry.
6. Intellectual property
Copyright in all catalogue text, photography and cataloguing notes belongs to Aurum & Co. or its licensors and may not be reproduced without prior written consent.
7. Governing law
These conditions of sale, and any transaction concluded under them, are governed by the laws applicable at the house's principal address, 12 Quai des Collectionneurs, Monaco, and are subject to the exclusive jurisdiction of the courts of that place.