How to Participate in an A&M Auction
(Detailed Rules)
Prices
All prices in the A&M catalogues are stated in euros.
1 € = 1.95583 BGN.
For convenience, prices in Bulgarian leva are also shown in brackets (in accordance with the National Plan for the Introduction of the Euro in Bulgaria).
Bidding Increments
Bidding increments start from €50 and above and are determined at the discretion of A&M. For live auctions, bidding increments are determined by the Auctioneer.
Estimates
The estimated selling price (Estimate) of each lot offered in the auction is printed next to the lot description and does not include the Buyer’s Premium, which is within accepted limits and described in the section Methods of Bidding.
Estimates are prepared well in advance of the sale, are not final, and are subject to revision. An estimate refers to the expected price range of a given lot. For example, €300 – €600 indicates that the lot may be offered at auction within this range.
A&M reserves the exclusive right to amend the estimated prices in accordance with company policy and prevailing market conditions.
Hammer price
The Hammer Price is a standard auction term referring to the final price at the fall of the hammer. After the hammer price is declared, the lot is considered sold definitively.
Buyer’s Premium
Тя е задължителна и платима на 15% (петнадесет процента) за стойности до €50.000 на всеки отделен лот, над тази сума е 10%. Таксата се изчислява за всеки лот поотделно.
Damaged and Restored Lots
Potential buyers are always responsible for determining the physical condition of the lots offered for sale and should refer to Clause 15 of the Standard Terms and Conditions of Sale. No statement regarding the condition of any lot shall be considered definitive, and A&M does not guarantee the absence of defects, imperfections, or restorations unless specifically stated.
Condition Reports
To assist prospective buyers who are unable to attend the auction in person, A&M may provide condition reports prepared by a specialist, sent by post or email. These reports are provided for guidance only and do not constitute a legally binding guarantee under the Standard Terms and Conditions of Sale.
Explanation of Catalogue Terminology
Any statement regarding authorship, attribution, origin, date, age, or condition represents an opinion and should not be regarded as a statement of fact.A&Mreserves the right to form its own opinion and to consult experts deemed reliable.
1. A painting catalogued under the artist’s full name is, in our opinion, a work by that artist. Where the artist’s first name is unknown, a series of asterisks followed by the surname indicates our opinion that the work is by that artist. The same applies to dates of birth and death.
2. A painting catalogued as “Attributed to…” is, in our opinion, probably by the stated artist.
3. A painting catalogued as “In the manner of…” is, in our opinion, a work executed in the style associated with that artist.
4. The term “Bears a signature of…” indicates, in our opinion, that the signature was added by another hand, while the work itself is original.
5. All references to signatures, inscriptions, and dates refer to the current condition of the work.
6. The term “Wrapped” is a registered trademark® of A&M and refers to works listed in the catalogue but not visible to buyers until purchased and explicitly requested to be unwrapped. The risk for “Wrapped” works lies entirely with the buyer.
7. The term “Monographed” indicates that the work has been published in printed materials (including brochures and posters) prior to being offered at auction.
8. Dimensions are given in centimetres, with height preceding width.
Methods of Bidding
In Person - All potential buyers wishing to bid in person must register on the day of the auction. A valid ID is required to receive a personal bidding number prior to the start of the auction. Buyers are issued a paddle displaying their bidding number, which corresponds to their registration details. To be a successful bidder, the number must be clearly visible to the Auctioneer and correctly announced. In case of any doubt regarding the hammer price or the successful bidder, buyers must immediately notify the Auctioneer or a staff member. All lots are invoiced to the name and address provided at registration and are non-transferable. Please return your bidding paddle to the registration desk at the end of bidding. Registration closes 10 minutes before the start of the auction.
By Telephone - If you are unable to participate using an Absentee Bid Form and wish to follow the auction live, telephone bidding is available. A prior request is required, along with a €500 deposit. The deposit is refundable upon successful purchase and may be retained in cases of misconduct or manipulation. Verified clients with special status are exempt from paying a deposit.
Online - Online participation is available after prior registration in accordance with the rules published on our website and the requirements of our servicing bank DSK. Unregistered participants are not permitted to bid online.
Absentee Bid Form
(This is a form completed prior to the auction and available at registration immediately before entering the auction hall.. The form is not published online.)
A&M – Terms and Conditions of Sale
1. Definitions and Interpretation
Under these Terms and Conditions, Apollon & Mercury (hereinafter referred to as “A&M”) act as auctioneers and agents for the seller. The representative of A&M conducting the auction is referred to as the Auctioneer. Any reference to A&M includes its employees and agents. References to a person include an individual, company, corporation, or any other legal entity. Headings are for convenience only and shall not affect the interpretation of these Terms.
2. General Provisions
A&M makes every reasonable effort to ensure the accuracy of the catalogue and the description of each lot.
A) All lots are sold as is, with all faults, imperfections, defects, and errors of description.
B) A&M accepts no responsibility for the authenticity, attribution, origin, authorship, date, age, period, condition, or quality of any lot, unless expressly instructed in writing by the seller.
C) All statements made in the catalogue or orally concerning any lot are statements of opinion only and shall not be regarded as guarantees or representations of fact.
D) Any claim must be submitted to A&M in writing within ten (10) working days from the date of the sale.
3. The Auction
A) The Auctioneer has absolute discretion to divide or combine lots, withdraw any lot from sale, refuse any bid, regulate the bidding, or cancel a sale without prior notice or explanation.
B) The highest bidder shall be the buyer, except in the event of a dispute, which the Auctioneer has sole authority to resolve, including by re-offering the lot for sale.
C) Each lot is offered subject to any reserve price set by the seller. Where no reserve exists, the seller may bid either personally or through an agent, including the Auctioneer.
D) Any announcements made by the Auctioneer prior to or during the auction shall take precedence over any printed catalogue descriptions.
4. Cancellation of Sale
Notwithstanding any other provision of these Terms, if within seven (7) working days of the sale the buyer notifies A&M in writing that, in their opinion, a lot is a deliberate forgery, and returns the lot in the same condition as at the time of sale, together with satisfactory proof, the burden of proof resting with the buyer, A&M may cancel the sale. Upon cancellation, A&M shall refund the purchase price within ten (10) working days after reimbursement has been received from the seller. Refunds for card payments shall be made to the same card. Any dispute shall be resolved by arbitration, the decision of which shall be final and binding.
5. Penalties and Legal Proceedings
A&M shall not be liable for penalties or court appearances involving either the buyer or the seller, acting solely as agents for the seller. Instructions given by telephone are accepted at the sender’s risk and must be confirmed in writing.
6. Private Sales
In the case of a private sale, the buyer agrees to be bound by these Terms and any Special Conditions disclosed prior to the sale.
7. Instructions
As A&M act as auctioneers, all items delivered to their offices or premises shall be deemed consigned for sale by auction unless otherwise agreed in writing.Such items shall be catalogued and sold at the discretion of A&M and shall be subject to these Terms and Conditions.By delivering items to A&M for inclusion in an auction, the seller confirms acceptance of these Terms.
8. Loss or Damage
A&M shall not be responsible for loss, damage, or unauthorized removal of any item unless caused by the negligence of A&M’s employees. In any event, A&M’s liability shall not exceed the purchase price paid by the buyer for the relevant lot.
9. Storage
A&M reserves the right to store or arrange the storage of items on its own premises or elsewhere at its sole discretion. The seller or buyer shall be responsible for all storage, transportation, and insurance costs.
10. Right of Sale
Buyers are responsible for storage charges for items left on A&M’s premises or under its custody. If a buyer fails to remove items within seven (7) days of a request to do so, A&M may sell the items without further notice to recover such charges. A&M’s maximum liability in such cases shall be limited to the price paid by the buyer.
11. Reserves
All lots shall be offered for sale without reserve, at the discretion of the Auctioneer, unless written reserve instructions are received prior to the commencement of the sale.
12. Indemnity
The seller shall indemnify and hold A&M harmless against any claims arising in connection with goods sold by A&M on the seller’s behalf.
13. Seller’s Authorization
The seller authorizes A&M to deduct agreed commissions and expenses from the hammer price and acknowledges A&M’s right to retain any buyer’s premium payable.
14. Photography and Illustration Rights
The seller grants A&M full and unrestricted rights to photograph, illustrate, and reproduce any items consigned for sale and to use such images, including those supplied by the seller, at A&M’s discretion, whether or not related to the auction.
15. Inspection
By placing a bid, the buyer confirms that they have satisfied themselves, prior to bidding, as to the condition, description, and Terms of Sale of the lot, including whether the lot is damaged, repaired, or restored.
16. Title and Risk
Legal title to a lot shall not pass to the buyer until full payment has been received. Risk in the lot passes to the buyer at the fall of the hammer. The buyer must provide full identification details and make such payments as requested by A&M or the Auctioneer. Failure to do so may result in the lot being re-offered for sale.
17. Status of Bidders
All bidders shall be deemed to act as principals unless A&M has received written confirmation prior to the sale that a bidder acts as an agent on behalf of a named principal.
18. Collection, Payment, and Default
A) No lot may be collected until full payment has been received. All lots must be paid for and collected by the end of the second working day following the sale. Uncollected lots remain at the buyer’s risk and shall be subject to a minimum storage charge of €10 per 24 hours.
B) If the Buyer fails to pay the full purchase price by the close of business on the second working day following the sale, the Buyer shall be deemed to have defaulted, and ‘A&M’ shall have the right to:
– To charge interest to the buyer on any purchase price (as defined in Clause 20) that remains unpaid, at a rate ten percentage points above the base Euro rate according to the BNB exchange rate.
To resell, without notice to the Buyer, any lots for which ‘A&M’ has not received the full purchase price. The maximum liability of ‘A&M’ to the Buyer in the event of a loss shall be limited to the price paid by the Buyer for such lots.
C) If the Buyer fails to comply with any of these requirements, ‘A&M’ reserve the right to refuse to accept any bids/offers in future sales made by or on behalf of the defaulting Buyer, or to require the Client to deposit a sum in cash prior to bidding in the event of a subsequent sale.
D) If the Buyer fails to comply with any of these conditions, the amount covered by the Seller, ‘A&M’ or the Auctioneer from this Buyer shall include any losses resulting from the resale of the lots, together with the fees and expenses of both sales, and interest on such amounts at a rate of 10 percentage points per annum above the BNB base rate. Funds deposited as partial payments shall be retained by ‘A&M’ as an account for the Buyer’s outstanding obligations to ‘A&M’ or to the Seller.
D) ‘A&M’ do not accept any payment other than: cash from the Buyer, via designated debit and/or credit cards, or by direct bank transfer to accounts specified by ‘A&M’. In all cases, the net amount credited to ‘A&M’’s bank account, after deduction of all bank fees, must fully cover all amounts due from the Buyer in respect of their purchases. Works paid for by bank transfer will be released upon receipt of funds in ‘A&M’’s bank account.
19. Purchase Price
The buyer of any lot shall pay the final price (hammer price) plus the Buyer’s Premium. The Buyer’s Premium is calculated as follows: 15% on the hammer price up to €50,000 per individual lot; 10% on the portion exceeding €50,000. The premium is calculated separately for each lot..
20. Methods of Payment
– Payment by debit and credit card
1. Payment by debit/credit card via V-POS.
2. Types of cards accepted: debit, credit, and business cards – Visa, Mastercard, and bCard.
3. Transactions are processed through the security programs MasterCard Identity Check and VISA Secure.
4. We do not store any data of the bank cards used for payments through the website.
5. If a refund is required for a payment made by bank card, it will be refunded to the same card.
A&M’ accept payments by debit and credit cards. No interest is charged on credit card payments. The Auction House does not store any bank card data.
– Payment by bank transfer
The BANK ACCOUNT of AH ‘Apollon and Mercury’ is with DSK Bank:
UIC: BG131551593
Address: 1 Lyuben Karavelov St.
MOL: Igor Markovski
IBAN: BG30 STSA 9300 0023 3602 54 (in BGN) (Note: valid until 31.12.2025, after which it will be converted to EUR)
IBAN BG86 STSA 930 000 223 246 44 (Euro)
BIC: STSABGSF
Invoices are issued electronically and are mandatory based on the information provided by the Buyer.
21. Third-Party Liability
Any person present on the premises where an ‘A&M’ Auction is held is deemed to be there at their own risk at all times. They shall have no claims against ‘A&M’, its employees, or agents for any accident, injury, damage, or loss, unless caused by the direct negligence of ‘A&M’’s employees.
22. Intellectual Property Rights
All texts, terms, concepts, as well as specialized data are registered by ‘Apollon and Mercury’ and may not be reprinted, published, or reproduced without the express written permission of the Auction House.
23. In the event that a resale royalty arises on an artwork in accordance with the provisions of Article 20 of the Copyright and Related Rights Act (CRRA) and subsequent amendments, and/or is claimed against any party under this Agreement, the royalty shall be payable in full by the Client (i.e., the person who consigned the works for sale to AH ‘A&M’).
24. All disputes arising from or relating to the agreements, including disputes concerning their interpretation, invalidity, performance, or termination, as well as disputes regarding the filling of gaps in the agreements or their adaptation to newly arisen circumstances, shall be resolved by the International Arbitration Court at the Alliance for Legal Interaction, in accordance with its Rules for Cases Based on Arbitration Agreements.
(First published in 1991, revised periodically and in 2025..)
