We accept lots for auction. Upon receipt of lots, we will enter into an "Auction Consignment Agreement" with the consignor, in which we will fix the lots and the starting prices.

The Dealer is responsible for the authenticity of the lot. Mipo Ltd. may assert claims against the consignor regarding the authenticity of the lots submitted.

The Consignor will instruct Mipo Ltd. to describe the lot and to determine the starting price - if this is not specified in the agreement.All this will be done by Mipo Ltd. with the utmost care and professional diligence. The Ltd. will list the lots in its catalogue at the auction indicated and will make every effort to sell the lot. The Vendor agrees that the Vendor may, at its discretion, list the lots submitted in a different manner from that indicated, reduce the starting price or return them to the Vendor in the event of doubt as to the authenticity, other characteristics or saleability of the lot.

The Concessionaire shall pay the Vendor 80% of the auction price.  

The cost of cataloguing the lots shall be HUF 250 per lot, calculated independently of the sale.

Settlement of accounts for sold lots shall begin on the 15th day after the auction date. The Ltd. reserves the right to pay for lots sold at auction but not paid for by the buyer, after receipt of the consideration.

The bidder agrees to allow the auctioneer to resell any lots not sold at the auction by way of subsequent sale, subject to the terms and conditions of the auction, for a further 14 days after the auction expires.

Any lots remaining in the auction will be stored at no cost for a period of 30 days from the date of the auction. For lots not sold after this period, a storage fee of 200.- + VAT/month per lot will be charged. The consignor is responsible for the removal of any unsold lots.

Items must be delivered in a secure manner suitable for presentation. We will accept the submitted artworks in a cleaned condition, free of dirt and dust.

Mipo Ltd. will take responsibility for the items received, will preserve their integrity, and will assume financial responsibility in the event of loss or damage, except as provided below. The extent of the liability is the price at which the item is sold, less the consignor's commission and expenses.

Particularly fragile items (e.g. china, glass) will only be accepted in suitable, secure packaging. We are not responsible for damage to items delivered in unsuitable packaging.

Mipo Ltd. will settle the invoice for the items received against the receipt. The Ltd reserves the right to refuse to accept certain items. In particular, but not limited to: counterfeit, worthless, oversized, delicate, out of profile or overpriced items. The Ltd. shall be entitled to return the received item at a later date if the need arises during processing.

Customers with access can track their submitted items on their own site.

Mipo Ltd. is obliged to keep the incognito of the entrants and customers and will not disclose their data to third parties, except in the case of a request from the authorities.

Ownership of the item remains with the submitter until payment of the purchase price and costs, but the rights are exercised by Mipo Ltd on behalf of the submitter.