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Purchase rules for MOST auction

(OFFER) 

1. The organizer of the MOST auction is LLC RMK (hereinafter referred to as the Auction, the Organizer of the auction).

2. Bidders may be individuals of full age, as well as legal entities acting through their representatives with a duly executed power of attorney to participate in the auction (hereinafter referred to as the Bidders).

3. The auction will be held on April 27th, 2019 at 18:00, location: Krasnodar, Krasnaya Str., 15.

4. To take part in the auction, Bidders fill in the registration form prior to the commencement of the auction (on mosthave.ru or at the check-in counter just before the auction), pay for participation, and get a card with the participant's number or login and password for the online account on mosthave.ru. Registration and payment for participation mean the consent of the Participant with these rules.

5. The organizer reserves the right to prevent any person from participating in the auction without explaining the reasons, as well as to request financial guarantees from the Participant in Tender.

6. The auction exhibits works of contemporary art presented in the auction catalog, which are on display at the pre-auction exhibition. 

7. The auction is held in the following order:
7.1. The auctioneer, putting up lots for bidding, announces their names and initial price.
7.2. The auction is conducted by increasing the initial price of the auction item (“auction step”), while the “auction step” is determined by the auctioneer.
7.3. Bidders raise auction paddles in sign of agreement to purchase the lot at a price one step higher than it was announced previously.
7.4. Online Bidders raise a bid on mosthave.ru using the “Make a bid” button in sign of agreement to purchase the lot at a price one step higher than it was announced previously.
7.5. Raising a card with a participant's number or online bet is a confirmation of conclusion of the purchase agreement on an art object, as well as confirmation of the provision of services by the Auction.
7.6. The auction winner is the Bidder who has offered a higher price for the auction lot. With the fall of the hammer, the auctioneer announces the winner of the auction. 
7.7. After the auction is completed, the winner concludes the purchase and sale agreement with the organizer, whereby a protocol on the results of the auction is not drawn up.
7.8. The auction organizer provides audio and video recording of the auction.

8. The Bidder, who won the bidding, pays the Auction Organizer with non-cash funds (payment transfer, including through the payment system on the Organizer’s website mosthave.ru, available in the personal account) within 5 days from the date of the auction.

9.  The buyer pays the purchased lots in rubles. If the buyer is a foreign person, payment is made in dollars at the rate of the Central Bank of the Russian Federation on the day of the auction, increased by 3%. In the catalog, the estimated value of lots in rubles is indicated on the basis of the presupposed dollar exchange rate on the day of the auction.

10. Works of art purchased at the auction are taken out by the Bidder who won the bid after the full payment no later than 10 days from the date of the auction.

11. In case the Bidder does not take out the work of art within 10 days from the date of the auction, the storage of the work of art shall be carried out by the Organizer, subject to the further reimbursement of storage costs by the Bidder.
The auction organizer is ready to assist the Bidder in delivering works of art purchased at auction at his expense.

12. Entry to the auction is by invitation or for a fee (10,000 rubles per participant +1 guest). If the Bidder, who won the bidding, participated in the auction on a fee basis, the payment made for participation shall be deducted from the cost of the lot.

13. Terms of participation in the auction online are listed on the auction site mosthave.ru.
 

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