1. General and interpretative provisions

1.1. The auction is conducted by Garzon Plaza Kft. (hereinafter referred to as the "Organiser") (9024 Győr, Vasvári Pál u 1/B., tax number: 13995803-2-08), as a legal entity engaged in the business of organising auctions.  

1.2. The aim of the auction the sale of works of art according to predetermined conditions. 

1.3. Type of Auction The auction will be a hybrid format, which means that participants can either participate live via the dial-up method at the auction venue, Öttevény Fő u 175. Földváry Castle or via the web application at www.foldvaryaukcio.hu, on this page or by placing a telephone order or a buy order https://ottevenyikastely.hu/veteli-megbizas/ may participate and bid in the auction according to the specific conditions further specified therein.

The telephone order works in the same way as Online bidding. Previously the www.foldvaryaukcio.hu, at registered and have obtained a dialling tone number, by writing to https://ottevenyikastely.hu/telefonos-licitre-torteno-megbizas/ The Auctioneer is invited, authorised and instructed by the Auctioneer on page 3.1 to act and bid on his/her behalf on the web auction platform, on the terms and conditions communicated by the Auctioneer during the telephone call, for the lot in question. 

You can follow the auction live on https://www.youtube.com/@FöldváryCastle On his YouTube channel in the current live sharing. 

1.4. Auction buyer: a person or organisation who, in person or through a representative, has registered with the www.foldvaryaukcio.hu  on the web interface and then request the serial number of the auction wheel for the current auction and then dispose of it. By registering, the Auctioneer automatically accepts and agrees to be bound by these Auction Rules. 

1.5. Buyer: the Auction Buyer with whom the sale and purchase contract is concluded 

1.6. Auction staff from auctioneer direct colleagues who are responsible for auctioneer based on direct instructions from the auctioneer, book the bids in the auction system, record the buy orders and manage the telephone bids. The auction staff and the auctioneer  will always be presented at the start of the bidding.

1.7. Strike price: The Auction House's bidding for the lot indicated, as declared by the Auction House, the Auctioneers' bidders in the auction application, or by the users or Auctioneers bidding in the auction room or by telephone, is auctioneer the fixed-highest price fixed by the auctioneer on the third hammer blow, the phrase "no one a third time" will be announced on the spot and recorded in the app and displayed here. This price is not the total purchase price.  In cases of dispute, the data displayed in the room on the web interface is always the primary reference. Thus, if an online bidder beats a web bidder with a disc raise, the result displayed on the online interface will always prevail. The knock down is done electronically. 

1.8. The Purchase Price is the total of the Hitting Price plus the 23% auction commission. In certain cases provided for by law, the Buyer may be subject to other payment obligations at the same time as the payment of the Purchase Price. In such cases, the law in force at the time of the conclusion of the sale contract and the terms of the sale contract shall prevail. The total purchase price includes VAT. 

2. Auction ad

2.1 The Promoter will publish the advertisement on its official website, https://ottevenyikastely.hu/foldvaryaukcio/ and other media (e.g. social media). 

2.2. The advertisement shall include the description of the works of art, the starting price, the date and venue of the auction and the conditions of participation. 

3. Auction lots

3.1 Auction lot is an object or group of objects that the Organiser has found suitable for auction and that may be offered for individual bidding at the auction, which may be viewed prior to the auction in the art and painting exhibition hall of the Öttevényi Castle or at the designated locations.  

3.2. The Organiser will publish an auction description of the auction lots on its official website www.folfvarykastely.hu/aukcio (hereinafter referred to as the online catalogue). 

3.3 The descriptions and illustrations in the Online Catalogue are for identification purposes only. The description of the auction lots in the Catalogue is based on the subjective opinion of experts. The Online Catalogue only draws attention to errors and omissions in the auction lots which may significantly reduce the value of the auction lot. Items are sold with all their faults and imperfections in the condition in which they are sold at the time of the auction. 

3.4. The Organiser reserves the right to postpone the auction or to withdraw the auction of individual lots in the Online Catalogue, to change the starting prices and descriptions in the Online Catalogue, or to change the order of the auction. In such cases, no claims or demands for damages or other claims may be made against the Organiser, which right is expressly waived by the buyer. 

3.5 The Organiser also reserves the right to withdraw any lot already bid on after the bidding has started. The way to do this is that reel number 1 always belongs to the organizer and if he raises reel 1 in the middle of the bidding, it is the last bid. It is no longer possible to bid on it, the auctioneer is obliged to close the bidding and award the lot to the house. 

4. 4. Conditions of participation

4.1 Participation in an auction, whether online or in person, is for the purchase of an artwork, painting or other auctioned item. 

4.2. Participants are required to register before the auction on the www.foldvaryaukcio.hu via an electronic auction interface, which involves providing personal data and accepting the auction terms and conditions.

4.3 If a participant wishes to bid, he/she must request a bid dial-in number via this same interface no later than 24 hours prior to the bidding. In the case of on-site bidding, he/she must redeem the bid dial number with this serial number prior to bidding, which is a condition for on-site personal bidding. The reel is free to use but must be returned at the end of the auction.   

 5. Auction procedure

5.1 At the time of the auction, you may participate in the auction in person or by proxy, or by telephone or online, and submit bids as described in Section 1.3.

5.2. auctioneer is managed by. The auctioneer has the right to decide on all matters during the auction, and no objections or appeals may be lodged against this decision during the auction. The auctioneer shall be responsible for the order of the auction and may take all necessary measures and issue instructions to maintain and restore order in the auction. 

5.3 The Auctioneer shall briefly present the lots (as a rule in the order indicated in the Online Catalogue) and announce the starting price, and the Auction Buyers (and, in case of a purchase order or telephone order, the company or person acting on their behalf) shall indicate and finalise their intention to buy by means of the application or by raising the numbered dial on the spot. 

5.4 The first purchase bid must be equal to the starting price of the auction lot. 

5.5 By pressing the bid button, or by raising the numbered dial, or by placing a telephone or written order, the Auction Buyer irrevocably declares that he/she accepts the price indicated in the application and on the projector at the event venue and, if no one else bids at a higher price, shall purchase the auctioned item at the price accepted by him/her and pay the purchase price plus the auction commission. 

5.7 The first person to press the bid button or to raise the numbered reel, as detected by the application, will be the first person to register the bid. In all cases, the status and sequence indicated by the application will prevail. After each bidding, the Auctioneer will allow time for the participating Auctioneers to re-bid. If the Auctioneer perceives that no further bids are expected, he will proceed to close the bidding. The closing of the bidding will be as follows, the Auctioneer will announce the highest bid price and add that first, then announce the highest bid price again and add that second, then announce the highest bid price again and add no one more third. At the end of this round, the auctioneer closes the bidding with a hammer blow. Anyone may bid above the highest price until the hammer strikes, but after the hammer strikes no further bidding is possible. Bidding in the system closes at the same time as the hammer stroke. In all cases, the data displayed in the system will prevail, i.e. if someone enters a higher bid in the system before the hammer strike is recorded by the auctioneer, the data displayed in the system will prevail.  

5.8 If no bids are received for an artwork during the second iteration after the announcement of the auction price, the auction of the artwork will be automatically cancelled and the artwork will be considered unsold. The artwork will be returned to its original owner after the auction, and the owner will not be liable for any further payment.

5.9.The Auctioneer may prohibit the further presence of any person who disturbs the Auction without any legal consequences, and the prohibited person may not claim any compensation. Any behaviour that attempts to circumvent the rules of the auction is strictly prohibited and may result in damages. 

Any collusion or attempt, in particular of the type intended to induce third parties to offer a purchase price above the market price and thus to cause damage, is prohibited. 

Items sold at auction may not be returned and may not be auctioned again during the same auction.

6. Bidding ladder

Depending on the amount of the starting price, the auction will have different bidding increments as follows: 

7. 7. Winning bid

7.1 At the end of the auction, the person who submitted the highest bid (the winner) is entitled to the work of art. The highest bidder for a given lot is obliged to pay, and cannot subsequently waive this obligation. After the announcement of the winning bid in the winning room, the winning bidder will be automatically notified by e-mail, confirming that the winning bid is his.

7.2 The winning bidder will have 8 working days to pay the hammer price plus 23% auction commission (Collectively: purchase price). You can do this either on the spot using a credit card terminal, or in cash on the spot, or by bank transfer to the bank account number indicated on the card. 

7.3 If the winning bidder fails to pay within 8 working days, he/she will lose the right to purchase the winning artwork and will be obliged to pay compensation to Garzonplaza Ltd., the organizer of the Auction, within 8 additional days, in an amount equal to the purchase price of the artwork. In the event of late payment, the auction organiser shall also be liable to pay the auction organiser the full amount of the collection costs in addition to the statutory default interest. 

7.4 The price of the auction lots is determined on the basis of public bidding, so the organizer does not assume any responsibility for the hammer price. The buyer is obliged to check the condition of the lots before the auction. After the auction, the buyer may not claim against the organisers for any defects.

8. 8. Establishment of a sales contract

8.1 The contract of sale is concluded between the Auction Buyer and the Organiser by the highest bidder. 

8.2 The Buyer shall acquire ownership of the auction lot when the full purchase price has been paid in full and the auction lot has been accepted by the Organiser. In the event of failure to do so, the Organiser shall be obliged to keep the item for a storage fee for a maximum period of ½ year, after which he may dispose of it as his own. 

8.3 The Organiser will issue an electronic invoice to the Buyer for the personal data recorded in the system after the full purchase price has been paid. 

8.4 Pursuant to Article 86 of Act LXIV of 2001 on the Protection of Cultural Heritage, the ownership of cultural property declared protected (auction lots marked "protected" in the Catalogue) may be transferred only on the basis of a written contract. The written contract is concluded within 15 days of the auction. 

8.5 The owner shall notify the Department of the Works of Art Inspection Authority of the Ministry of Construction and Transport (the "Authority") of any changes in the data (name and address of the owner; place of custody of the protected object) concerning the cultural property declared protected, as specified in the decision declaring it protected, without delay, but no later than within 8 days of becoming aware of such changes. In the event of the transfer of cultural property declared protected in a commercial transaction, including, in particular, at auction, the Organiser shall also be obliged to notify the Authority. 

8.6 Pursuant to Article 86 (1) of Act LXIV of 2001 on the Protection of Cultural Heritage, the Hungarian State has the right of first refusal for the elements of cultural property declared protected. The representative of the Authority is obliged to declare immediately after the demolition if he intends to exercise his right of pre-emption. A timely declaration shall be deemed to be made if the representative of the Authority informs the representative of the Organiser of the exercise of the right of first refusal before the end of the auction. 

8.7 The Organiser does not assume any moral or financial responsibility for any failure to obtain the auction lots declared protected and won at the auction! Items marked "VÉDETT" in the auction catalogue may not be exported from Hungary. 

9. 9. Exclusion and remedies

9.1 The Organiser reserves the right to disqualify any participant who violates the rules or acts under fraudulent circumstances. 

9.2 The Organiser's decision is final and participants have no right of appeal or compensation. 

9.3 The Organiser shall have an authenticity test carried out for each painting to be auctioned by a qualified art historian, the documents of which shall be attached to the object. The authenticity of the object is guaranteed by the expert issuing the certificate, so that in the event of a dispute, he/she must prove the authenticity and, if necessary, take responsibility for any financial loss suffered. The organiser guarantees a full repurchase guarantee in the event of damage proven to be attributable to him, within a maximum of 1/2 year of the date of the sale, provided that the buyer waives any other financial or moral claims in writing at the same time as submitting a substantiated claim. In the case of non-paintings, such as cars, jewellery or other objects, the Organiser is not obliged to have an authenticity test carried out by another expert, e.g. an art historian.  

10. Data protection

10.1 The Organiser undertakes to protect the data of the participants and will not disclose them to third parties. The Organiser will identify the buyers during the auction with the registration number generated in the application, so the buyer's name will not be disclosed under any circumstances. The rules on data protection can be found in the Privacy Policy: https://ottevenyikastely.hu/adatvedelmi-szabalyzat/   The buyer acknowledges that if a court or the tax authorities issue a ruling requiring the organiser to disclose the details of the buyer and the legal transaction, the buyer cannot claim damages.

10.2 Participants consent to the processing of their data for the purposes of the event. 

11. 11. Final provisions

11.1 The Organiser reserves the right to amend these Rules and Regulations, provided that the current version of these Rules and Regulations, together with the date of issue, shall be published in the https://ottevenyikastely.hu/arveresi-szabalyzat/ make it permanently available on the website. The parties will always consider the rules in force on the day of the bidding to be the applicable rules in all matters in question. In the event of a dispute, the participant must provide evidence of the applicable rules in force at the time of the transaction.  

11.2 In matters not covered by the Rules, the applicable legislation shall prevail. In the event of a possible annulment by a court of law of a point of the Rules, the parties must replace the disputed point with another point that corresponds to the prior intention. The governing law shall be Hungarian, and in the event of a dispute the parties agree to submit to the exclusive jurisdiction of the Budapest Court.  

 Date of issue of this Policy 29 October 2024 Issuer: Matusz Balázs Executive Director