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The goods are to be sold at open outcry public auction organized on June 10, 2000 starting at 12.00 a.m. and on June 11, at 2.30 p.m.
Auction place: Mausoleum, Carol Park, Bucharest.
The goods can be seen at the above-mentioned address in the days of 7-9.06.2000 between 12.00 a.m. - 4.00 p.m.
The persons concerned shall pay the entrance fee in amount of lei 50.000 only to enter the exhibition without the allowance of bidding and 350.000 to enter the exhibition/auction being provided with a ticket (lei 200.000), a contract, a bid card and the catalogue (lei 150.000). The entrance fee shall be paid only once; the participant may subsequently attend the exhibition and make bids during the above-mentioned period.
Any natural person – prospective buyer – who identifies him/herself with an identity card, is allowed to bid upon fulfillment of the following conditions:
§ She/he has received a ticket upon payment of lei 200.000
§ She/he has received a catalogue upon payment of lei 150.000
§ Has signed a bid contract and received a bid card. Organizers are in charge of providing the non-transferable bid card before the auction begins and recovering it as soon as the bidder leaves the auction room.
It is forbidden for the persons who adjudicated items in former auctions and did not paid for them or not taken them up within four days from the last auction session (according to the instruction list) to attend any further auctions.
Natural persons that bid on behalf of a legal entity shall be empowered by virtue of an authenticated proxy.
The persons willing to submit written offers before the auction begins are to receive, upon request, a price offer ticket that has to be filled in and left at the registration office located in the entrance hall. Bids for any of the exhibits in the catalogue can be made at the set price at least. Such a bid shall come before all others if the same price is bid during the session.
The bidder shall pay a bid bond worth 20 percent of the bid amount upon filling-in of the ticket. The bid bond shall be deducted from the selling price if the bidder wins the auction or it shall be reimbursed when the auction is completed if the same exhibit was sold to another bidder.
The following procedure shall be observed during the bidding:
§ The auction begins with the amount written in the catalogue and proceeds with the amounts put forward by the auctioneer. One quantum leap shall generally equal maximum 10 percent of the offered price;
§ Lifting the card shows acceptance of the put price;
§ The bids below the price put forward by the auctioneer shall not be accepted;
§ Prices offered by bidders may exceed the price called out by the auctioneer in round figures by no less than lei 10.000 type;
§ The acceptance of the bid is shown by calling out the number on the bid card (the auctioneer irrevocably sets the figure, which was first accepted, at a certain amount);
§ The sale is made after the auctioneer called the last price (the highest) three times by hitting with the hammer and calling out “ADJUDECAT” (=SOLD).
§ No further bid shall be taken into account;
§ The auctioneer calls out the winning bid and the selling price of that particular object.
At the bid amount, shall be added VAT 19% and a commission of 3.5 per cent if cards effect the payment.
After the sale a down payment of minimum 20 % of the bid amount shall be made if the procedure with an auction and price offer ticket has not been chosen. The remaining 80% and the fee of 19% representing VAT shall be paid within 4 days at the most.
If the entire amount is not paid within 4 days the down payment shall be retained by R.A.-A.P.P.S. without any obligation of reimbursement whatsoever.
A receipt shall be issued for a dawn payment and a fiscal invoice for the entire due amount – the selling price to which VAT of 19% shall be added).
Payment of the due amount for the sold objects can be effected either in LEI or in foreign currency at the official rate of the NBR announced for the payment day, in cash by payment order or card (VISA, MasterCard, EUROCARD). The goods remain in the custody of R.A.- A.P.P.S. until the entire due amount is paid but not longer than 4 working days.
After the fourth day. R.A. – A.P.P.S. shall charge a deposit fee of 0,4% per day for maximum 8 days for the objects that have been paid but not taken out by the buyer. After the 8 days have passed the buyer is going to lose the ownership over the sold item and the whole amount which was paid till then.
R.A.-A.P.P.S. releases the objects only after the effective payment is made. The sold good may be released directly to the buyer or to his/her representative by virtue of an authenticated power of attorney (for natural persons) or an authenticated representation delegation (for juridical persons).
The buyer receives a certificate upon releasing the sold object.
Bidders may not redeem the sold goods for which fiscal invoices were issued.
Bidding and selling of the goods are to be carried out according to the principle “ what you see is what you get”.
The participants may contest the results of the auction provided the bid instructions or other legal provisions have been violated. The contest related to the bidding may be submitted within 24 hours after the auction is completed at the head office of R.A.-A.P.P.S. that shall analyze and resolve them in maximum 5 days and shall subsequently notify the results to the contestant.
The resolution of R.A.-A.P.P-S. concerning the settlement of the contest shall be issued in legal terms; the participant may also appeal to the court if she/he does not receive the resolution of R.A.-A.P.P.S. within the above-mentioned time period.