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or select to bid via: TELEPHONE OR ABSENTEE or BID ONLINE

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BUYING FROM A NEWSTEAD ART AUCTION - Terms and Conditions of Business

PRE-SALE ESTIMATES

The price range provided for each lot reflects the art specialists' expectations for the hammer price that each artwork may achieve, based on realised prices of similar artworks in the secondary market. These estimates serve as a guideline only and may result in sales that fall outside these ranges. Please note that pre-sale estimates do not account for buyer's premiums or other applicable charges.

RESERVES

The reserve price is the lowest amount that the vendor is willing to accept for each lot, and typically, the lot cannot be sold for less than this figure. However, this information is not disclosed to potential buyers.

BUYER’S PREMIUM

A buyer’s premium of 25% (including GST) is added to the hammer price on each lot. The hammer price is the last bid that is accepted by the auctioneer. If bidding online via LiveAuctioneers, LiveAuctioneers will charge an additional 3% premium on top of our in house premium.

CERTIFICATE OF AUTHENTICITY & PROVENANCE

Each piece of artwork will be accompanied by its known provenance or ownership history. A lack of disclosure may suggest that Newstead Art is unaware of the previous history and provenance. All artworks sold at Newstead Art auctions include a certificate of authenticity from our auction house. While we strive to obtain the original certificates from the sellers before the sale, they are frequently lost and may no longer be accessible.

COPYRIGHT

The copyright of the artworks listed in this catalogue belongs to the artist or their estate and is used under licence by Newstead Art. The buyer must not reproduce or otherwise use the images or text without prior written consent. Newstead Art pays the cost of copyright at the end of sale via the Copyright Agency, 2022.

RESALE ROYALTY

Some lots consigned for this auction may fall under the Resale Royalty for Visual Artists Act 2009. Any payments required under this Act's obligations will be the responsibility of the vendor.

REGISTRATION

Prospective buyers must register to bid prior to the auction.

BIDDING

There are five ways to participate in bidding at Newstead Art Auctions:

1. In Person – Our auctions are open to the public and held at our venue located at 31 Lamrock Ave, Bondi. We warmly invite you to attend if you are in Sydney.

2. Online – Whether you are nearby or situated across the globe, you can bid on all Newstead Art pieces from the convenience of your home or office. Participate live and in real time via our website at www.newsteadart.com.au or through LiveAuctioneers, noting that LiveAuctioneers charges a service fee.

3. Absentee Bid – If you prefer not to attend in person or bid online, you can submit an absentee bid by completing the form located at the back of this catalogue or during the viewing in Sydney. Simply indicate your maximum bid for any artwork, and the Auctioneer will bid on your behalf up to that amount. If there are no competing bids or if others withdraw before reaching your maximum bid, you will secure the piece at the next bidding increment, potentially for less than your top bid. Newstead Art provides this complimentary service as a courtesy to clients and does not accept liability for errors and omissions in the execution of absentee bids

4. Telephone – This option allows you to bid on any artwork from anywhere in the world. You will receive a call 2-3 lots before your chosen artwork is up for bidding, and one of our staff members will represent you, serving as your eyes, ears, and voice for the evening. We recommend leaving a Cover Bid (similar to the Absentee Bid) in case we cannot reach you, enabling the caller to place bids on your behalf up to your specified amount. Newstead Art provides this complimentary service as a courtesy to its clients and does not accept liability for errors.

BIDDING INCREMENTS

Bidding typically opens below the listed pre-sale estimate and proceeds in the following increments (however it is at the discretion of the auctioneer, and may vary)

Between
$0 and $1,000 by $50
$1,000 and $2,000 by $100
$2,000 and $5,000 by $200
$5,000 and $10,000 by $500
$10,000 and $20,000 by $1,000
$20,000 and $50,000 by $2,000
$50,000 and $100,000 by $5,000
$100,000 and $200,000 by $10,000
$200,000 and $500,000 by $20,000
$500,000 and $1,000,000 by $50,000
$1,000,000 and over by $100,000

BUYER’S PREMIUM

A buyer’s premium of 25% (including GST) is added to the hammer price of each lot. The hammer price is the last bid that is accepted by the auctioneer.

SUCCESSFUL BIDS

The fall of the auctioneer’s hammer indicates the bid has been accepted and the work is sold, and the buyer assumes full responsibility for the lot from this time.

AFTER THE AUCTION

PAYMENTS

The day following the sale, the Post-Sale team will provide you with an invoice.

The total amount payable will comprise the hammer price, a 25% buyer’s premium, and the 3% service fee imposed by LiveAuctioneers if their services are utilised for online bidding.

The easiest way to pay is via Electronic Bank Transfer, and our bank details will be included on your invoice.

A surcharge of 1.70% + AUD$0.30 applies to payments made with Visa, MasterCard, and AMEX cards. Alternatively, payments can be made by cheque or cash. Please be aware that cheque payments require a 5-day clearance period before items can be collected.

GOODS AND SERVICES TAX (Included in final hammer price)

If the purchaser is an Australian resident, a 10% GST is applied in the following situations:
a. On the final hammer price when purchasing from a vendor registered for GST.
b. When extra charges such as shipping are applicable
c. On the Buyer’s Premium.

COLLECTION, TRANSPORTATION & SHIPPING

All collection notifications, shipping options, and requests for carrier recommendations are to be emailed to our Post Sale Services email address auctions@newsteadart.com. Newstead Art will endeavor to supply you with the best and most cost-effective option for shipping your artwork to you, but you are not obliged to use this service and may organise your own transport options. Please inform us as soon as possible of your preferred method. Proof of identification is required upon collection, and lots not collected within seven days of the sale may incur costs associated with external storage and freight. Should you request that Newstead Art wrap and/or pack your goods and arrange postage of your items for you, a fee will apply, and whilst all care is taken, we accept no responsibility for any damage.