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1) Buying at Shumas
At Shuma’s, bidding for the item of your choice is easy. Our auction floor is open to the world and you can easily participate from the comfort of your home by visiting our catalog online at www.ebayliveauctions.com
Register
Please register through ebay to obtain your ID and Password and to be approved by our company in order to bid or place an absentee bid online. If you are not an ebay registrant, we can bid on behalf of you either as an absentee bidding or a telephone bidding by sending us an application form with a copy of your valid credit card and photo ID by fax at 1+(604) 437-4515. Please send us both front and back for both the credit card and the ID.
Bidding Options
Internet Bidding:
If you are an ebay registrant, you may just sign up and enjoy our ebay Live Auction. If you are not an ebay registrant, please register with ebay first.
Absentee Bidding:
As a service to those who wish to place bids before the auction, we may, at our discretion, accept bids without charge in advance of sale, online through ebay or by sending us an application form by facsimile until 5 a.m. PST on the auction date. Bids after 5 a.m. may not be processed. "Buy" bids will not be accepted; all bids must state the highest bid price the bidder is willing to pay. Our auction staff will try to bid just as you would, with the goal of obtaining the item at the lowest bid price possible. In the event identical bids are submitted, the earliest bid submitted will take precedence. Absentee bids shall be executed in competition with other absentee bids and bids from other auction participants.
Telephone Bidding:
Telephone bidding offers more flexibility than standard absentee bidding. A Shuma's employee will call you several minutes before the item you are interested in goes on the block. The representative will talk you through the auction and ask you when and how much you would like to bid. Because we must schedule employees to be available in the auction to phone bid with you, please send us an application form by facsimile no later than 24 hours in advance of the auction. Please note that you must be willing to bid up to the low estimate of an item for a telephone bid.
Payment:
Payment must be made in US Funds within 7 days after the auction ends, by:
- Money Order (if the amount is more than US$1,000, it usually takes 15-30 days to clear. Amounts less than US$1,000 will take 3 days to clear. Once your payment clears, we send the item);
- Wire Transfer to Bank Account;
- Personal check (we send the item once your check clears (usually 15-30 days); or
- Paypal (Visa, MasterCard, Amex and Diners).
Please note: additional costs such as Bank Wire Transfer fees, taxes or duties are payable by the buyer.
Buyer's Premium:
Our standard buyer's premium rates are as follows:
| If the successful bid is: |
Our commission is: |
| less than or equal to $5,000 |
18% of the hammer price |
| $5,000.01 - $100,000 |
15% of the hammer price |
| $100,000.01 or more |
10% of the hammer price |
For V.I.P. members, buyer's premium rates are as follows:
| If the successful bid is: |
Our commission is: |
| less than or equal to $5,000 |
15% of the hammer price |
| $5,000.01 - $100,000 |
12% of the hammer price |
| $100,000.01 or more |
8% of the hammer price |
Shipping:
Please allow 2-4 weeks for delivery after we confirm/clear your payment.
Return Policy:
We have a one-year return policy if the item is proven to be a fake or a reproduction. Proof that the item is a fake or a reproduction must be given by letters from two different recognized experts, accepted by us. If the item or its provenance has been materially misrepresented by the seller, you will have three days after you receive the item to request a full refund from us. Late requests for a refund will not be considered. Please note that a difference in the colour of an item from what is shown in the catalogue or online is not an acceptable reason for return. All returns must be agreed to by us prior to you returning any item to us for a refund.
Please see our Terms & Conditions posted on our website for more details.
If you still have any questions or require more information, please contact us directly at info@shumas.com.
2) Selling at Shuma's
Why you should choose Shuma's
Strong client service, longstanding experience in the international art market, make us the auction house of choice for consignors.
Estimates are based on the condition, rarity and history of an object, as well as a careful evaluation of recent prices realized for similar objects, taking into account the current state of the art market.
If you are considering a sale of your property at Shuma's, we invite you to the following steps.
Estimates
Consignment Agreement
Once you have agreed to our estimates, we will send you the consignment agreement. Please read, sign and return it to us. All sales will be governed by our Consignment Agreement.
Please note: After you sign the consignment agreement, you cannot cancel/withdraw the item from the auction unless we agree to do so. (If the item turns out to be a reproduction or a fake, we have right to cancel the lot at any time.)
Advertising & Marketing
Once you sign a consignment contract for the sale of your property in a Shuma's auction, we begin marketing it to a number of potential buyers worldwide.
Confidential Reserves
For each of your items, you will work with our specialists to set a minimum price, or reserve, below which your objects will not be sold. This reserve price will be held in strictest confidence. If bidding ceases before your reserve price has been met, the lot will be bought-in, or passed by the auctioneer.
Return Policy
As a seller you must agree to our 1-year return policy, which states that if, in the written opinion of two different recognized experts, accepted by us, the item is a fake or a reproduction, the full price paid by the buyer will be refunded. Also if you have materially misrepresented any aspect of the item or its provenance, the buyer will have a three-day period within which to request a full refund.
Shipping and Insurance cost are at seller's expense.
Auction Sales Commissions & Fees
We will assist you throughout the auction process, providing a detailed inventory of your consignment and prices realized for each lot. Approximately 35 days after the completion of sale, you will receive the net proceeds after deducting our commission and Money Transfer Fee of US$30.
Our standard commission rates are as follows:
| If the successful bid is: |
Our commission is: |
| less than or equal to $500 |
20% of the hammer price |
| $500.01 - $2,500 |
15% of the hammer price |
| $2,500.01 or $10,000 |
10% of the hammer price |
| $10,000.01 or more |
8% of the hammer price |
Sales commissions vary based on the hammer price of your property and are netted from gross proceeds.
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