Frazao Auctions

Frazao Auctions

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General Terms and Conditions for the Acquisition of Items in an Online Auction

Frazão Auctions, Philately Portugal Unipessoal, Lda, with registered office at Rua Rodrigo da Fonseca 204, 3º Dto 1070-245 Lisboa, with share capital of 1,000 euros, and with VAT number 517388979, registered at the Lisbon Commercial Registry Office , under number 517388979, hereinafter referred to as Auctioneer, subject to the acquisition of items at auction, online, on the website used by Auctioneer (hereinafter referred to as “Website”), to the following conditions:

Registration

1.1. Any person interested in the acquisition of parts or works to be auctioned by the Auctioneer through the Website (“Client” or “Buyer”), must previously request registration as a bidder and Client, and will then be assigned the elements for the purposes of logging into the Website, with which you can use the Site. The Client accepts that, in the registration request and in the other registrations tending to qualify for bidding in Auctions, elements such as the name, the address, telephone number, e-mail address, identification document and tax number of the interested party are required, and declares to be aware of these General Terms and Conditions.

1.2. Upon registration, or at any other time, the Auctioneer may ask the Client to present a valid identification document, as well as a payment guarantee, in the form and amount that, according to its exclusive commercial criteria, he defines.

1.3. The Auctioneer reserves the right to refuse admission to its facilities and exhibition and auction sites to any person, as well as to refuse the registration or registration as a bidder of anyone, consequently ignoring any bid offered by them.

1.4. Logging into the Site, for bidding purposes, will correspond to the performance of the interested party in all the acts performed, and, if not the bidder, it will be considered that the bidder is mandated by the Client.

Bidding and Auction

2.1. The bidding of the items by the respective interested parties will be done through the Site, for which the registration and login of the interested parties will be necessary, in accordance with the terms and conditions indicated by the managing entity of the same.

2.2. All bids made by online bidders are final and binding purchase and sale contracts if a bid matches the winning bid on the lot. The final buyer will be the Customer who makes the highest bid and the last one mentioned on the Site, at the close of the respective auction.

2.3. The amount according to which the bids will follow each other in the bidding of each lot will correspond to the sum of the bidding base, or the previous bid, plus the value provided in the following table:
Value    Increment
0 €    2 €
50 €    5 €
100 €    10 €
200 €    20 €
500 €    50 €
1,000 €    100 €
2,000 €    200 €
5,000 €    500 €
10,000 €    1,000 €
20,000 €    2,000 €
50,000 €    5,000 €
100,000 €    10,000 €
200,000 €    20,000 €
500,000 €    50,000 €

2.4. Whenever a bidder places a bid in the last 30 (thirty) seconds of the duration of the auction, through the online platform, 20 (twenty) seconds of duration will be added to the respective auction, and so on, ending the auction when no more bids are made during the remaining time. Whenever a bidder makes a face-to-face bid at an auction with a higher value than what is on the market, the Auctioneer will immediately insert it on the electronic platform, in accordance with such face-to-face instruction, unless such act is preceded by a faster bidding of higher value on the platform.

2.5. In cases of automatic bidding, the bidder will indicate a maximum amount up to which he is interested in purchasing the piece, and the system will automatically bid, on behalf of the bidder, up to the respective value. In case of offers of equivalent value, only the offer received first will be accepted.

2.6. The Auctioneer will assign the right to acquire the item or item to be auctioned to the Client who offers the highest acquisition value, and the Auctioneer must decide, with full discretion, any doubt that may arise during the auction, and may even determine the placement of the same asset again in the market, in a subsequent online auction, for the amount at which the doubt arose, in order to dispel it.

Status of Items

3.1. The Auctioneer assumes responsibility for the accuracy of the descriptions of the items made on the Site, namely with regard to their description and their state of conservation, without prejudice to being able to publicly correct them, until the moment of their sale.

3.2. The photographs or representations of the property on the Site are exclusively intended to identify the item subject to sale and to illustrate the Site.

3.3. The items to be auctioned and placed on the market will be auctioned in the state in which they are found, with potential buyers personally confirming, through prior examination and verification, the description made in the respective catalog and the conditions of the said items, namely with regard to any restorations, faults or defects mentioned in the catalogues.

3.4. So that potential interested parties can check the condition of the items to be auctioned and the description made in the respective catalogues, the Auctioneer will promote an exhibition under the terms of the Law, before the auction takes place, in a place indicated on the Site.

3.5. In view of the provisions of the previous paragraphs, after the sale of any items there will be no claim, unless there is a relevant discrepancy between the description made in the catalog and the characteristics and/or state of the item at the time of the auction, provided that such discrepancy implies a significant change in the value of the item to be auctioned. In this case, the Customer may only request the return of the total amount of the sale by returning the item, in the condition in which it was found at the time of the auction, not having, however, the right to any compensation, indemnity or interest.

Payment and Withdrawal of Items

4.1. A commission will be levied on the auction price in favor of the Auctioneer, corresponding to 15.00% of that value, and on this the legal rate of 23% VAT, which totals the auction value plus 18.45%.

4.2. The items may be paid in cash, by check or bank transfer made to the bank account to be indicated by the Auctioneer, and may also be paid by debit or credit card, in which case the respective bank charges will be added and will be indicated in a timely manner by the Auctioneer.

4.3. The auctioned items can only be picked up after payment in full and under the terms defined in the previous numbers. Ownership of the item is only transferred to the Buyer after good collection of the total amount of the sale.

4.4. Items not picked up after 10 (ten) working days from the date of the auction will be sent for collection to the Customer’s address, adding the respective shipping costs to the total amount defined in number 4.1 above.

4.5. If the Client does not pay the total amount of the sale within a period of fourteen (14) days from the date of auction of the item, the Auctioneer may, at any time, by itself and on behalf of the seller and without the Client being able to demand any compensation and damages for this fact:

a) Bring legal action to collect the total amount of the sale; or

b) Notify the Buyer of the annulment of the sale, without prejudice to the Auctioneer’s right to receive the commission owed by the Customer and the consequent possibility of legal action being taken to collect it.

Sold Items

5.1. The verification of any damage, theft or loss of any item sold and paid for or signaled, but not delivered, gives the Customer only the right to receive an amount equal to the amount paid by him, but not having the  right to any interest, indemnity or compensation.

5.2 The Auctioneer will not be liable, under any circumstances, to a Customer who, due to a fact attributable to the seller or a third party, becomes the subject of claims or claims by third parties, nor in the event of seizure, provisionally or definitively, of any auction, regardless of the date on which the respective claim, claim or seizure was determined or carried out and the nature or amount of any damages, losses or damages that the Buyer may derive from this fact, which must be claimed by the Customer directly to the seller or third party.

5.3. Likewise, the Auctioneer will not be responsible, under any circumstances, if an auctioned item is prevented from leaving the country, namely under the legislation for the protection of cultural heritage, regardless of the date on which the respective inventory has been carried out. , listing or classification, and the nature or amount of any damages, losses or damages that the Customer may derive from this impediment.

Personal Data Processing

6.1 The Auctioneer declares and guarantees that it is responsible for processing the personal data of the Clients, basing the processing of personal data on article 6.º/1/a) of Regulation (EU) 2016/679 of the European Parliament and of the Council, of April 27, 2016, intended exclusively for the provision of the service provided for in this Agreement.

6.2. The present communication of personal data constitutes a necessary requirement for the said provision of services, namely regarding the execution and processing of bids and auctions, identification of Customers (also for the purposes of compliance with legislation on money laundering and other regulatory matters ), invoicing and shipment of items, sending communications about auctions and other products and services (including general, promotional, publicity and commercial information, as well as information and highlights on the agenda, promotions and institutional and personal relationship with the Customer), which may data be transmitted to other entities belonging to the economic goup of the auction house and/or to companies owned by its partners, but only for the purposes indicated that are pursued by them.

6.3 The Client, holder of personal data, has the right, at any time, to request the Auctioneer to access personal data concerning him, rectify or erase them and limit processing, as well as oppose processing, request portability of data, withdraw consent, without compromising the lawfulness of the treatment carried out based on the previously given consent, through the email rgpd@frazauauctions.com and submit a complaint to a control authority.

6.4 The retention period is 2 (two) years after the end of the provision of the service object of this Contract.

Miscellaneous Provisions

7.1. The present General Conditions for the Acquisition of Items may be subject to alteration, being sufficient, for this purpose, to publish them in advance on the Website and post them in the place where the auction is held, before the start of the auction.

7.2. To resolve any disputes arising from the execution of these General Conditions for the Acquisition of Items, the jurisdiction of the district court of Lisbon will be competent, with express waiver of any other.

Frazao Auctions

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