Auction Policy

Auction Policy for Silpam Art

  1. Purpose

This policy outlines the rules and procedures governing auctions conducted by Silpam Art to ensure transparency, ethical practices, and compliance with applicable laws.

  1. Scope

This policy applies to all auctions, whether in-person, online, or hybrid, conducted by Silpam Art.

  1. Auction Process

a. Types of Auctions

Live Auctions: Conducted in a physical or virtual venue with a live auctioneer.

Silent Auctions: Participants submit bids without knowing others’ bids.

Timed Online Auctions: Bidding occurs over a specified time frame.

b. Eligibility

Bidders must register and provide valid identification.

Participants must meet any specific requirements outlined for the auction.

c. Pre-Auction Procedures

Detailed descriptions, provenance, and authenticity of all items will be provided.

Items will be available for inspection during a designated preview period.

d. Bidding Rules

All bids are binding and cannot be withdrawn.

Incremental bidding will follow a predefined scale announced prior to the auction.

The highest bidder at the close of bidding will be deemed the winner, subject to any reserve price.

e. Reserve Price

A confidential minimum price may be set for each item. If the reserve price is not met, the item will not be sold.

  1. Payment Terms

Winning bidders must pay in full within [specified time] via accepted payment methods (e.g., bank transfer, credit card).

Taxes, shipping, and handling fees may apply and will be disclosed.

  1. Post-Auction Procedures

Certificates of authenticity will be provided for applicable items.

Silpam Art will coordinate shipping and insurance upon full payment.

  1. Returns and Refunds

All sales are final unless explicitly stated otherwise in the auction terms.

In cases of disputes, Silpam Art reserves the right to mediate and determine outcomes.

  1. Ethical Standards

Silpam Art adheres to industry best practices to ensure authenticity and fair valuation.

No employee or affiliate of Silpam Art may bid on behalf of themselves without disclosure.

  1. Dispute Resolution

Disputes must be submitted in writing within [specified time] of the auction’s conclusion.

Disputes will be resolved per [applicable jurisdiction] law or through arbitration.

  1. Confidentiality

All bidder and seller information will be handled per Silpam Art’s privacy policy.

  1. Policy Updates

Silpam Art reserves the right to modify this policy at any time. Updates will be communicated promptly.

  1. Contact Information

For questions or concerns, please contact:
Silpam Art:
contact@silpam.art
+4401182303313