The concerned parties should contact CABRAL MONCADA LEILÕES and agree upon a specific date. Unofficial (i.e. verbal) valuation is given free of charge at the company’s premises with no obligation to sell.* (except for jewellery, pocket or wrist watches).
What to do in case of not being able to bring the item to our premises
If the item is of difficult carrying or very fragile and according to our best judgment a conditional valuation may be given on the basis of a high quality photograph, specifying the particular dimensions, any markings, signatures or other significant references. These valuations are also free of charge and do not entail any obligation to proceed with the sale at auction
At the request of the person concerned and whenever understood necessary or convenient, CABRAL MONCADA LEILÕES can arrange for its experts to visit your home or the location of the items for an unofficial valuation with the purpose of putting them up for auction. As in previous cases, such valuation is free of charge and does not entail any obligation to sell.
Whenever the parties concerned require a written and signed official valuation for inheritance, insurance, auction placement, property inventory updates or any other purposes, CABRAL MONCADA LEILÕES may also arrange for its experts to visit the customer’s home or the location of the items.
In this case, the date, terms and conditions attached to the above valuation should be laid down in advance being the costs of the valuation, exclusive of VAT, calculated using the following sliding scale:
Please note that the cost of the formal valuation of items, subsequently put up for and sold at auction will be deducted from the amount owed to CABRAL MONCADA LEILÕES by owners
Regardless of putting an item up for auction, CABRAL MONCADA LEILÕES advises you:
After a decision has been taken to put an item up for auction, CABRAL MONCADA LEILÕES will notify customers of the date of the following auctions and current Business terms and conditions.
An “Auction Services provision Contract” must be entered between CABRAL MONCADA LEILÕES and the item’s owner-seller. In addition to the owner-seller’s full ID, both civil and fiscal, the contract identifies and describes each and every item, the premiums and fees due and the minimum estimate sale price to be agreed between the parties.
The minimum sale price agreed between the parties, also referred to as the “reserve price” will be the amount of the valuation which will be expressly set out in the respective catalogue.
(Minimum sale price agreed between the parties in the contract / reserve = base auction price in the catalogue).
Copyright – Law 24/2006 **** This amount comprises a law fully defined percentage calculated upon sales prices exceeding €3,000; the charged percentage varies according to the value reached at auction, according to the law; should the author or the rightful proprietor of the rights demand payment from CABRAL MONCADA LEILÕES before payment has been provided to the seller then CABRAL MONCADA LEILÕES reserves the right to deduct the amount in question from the total amount due to the seller.
* Only payable if item is sold; charged on sales price; to be deducted from the amount of the winning bid; ** Charged on the value of the agreed reserve *** Fee: Full page – € 120; ½ page – € 60; ¼ page – € 30. **** 4% on sales price from €3,000 – €50,000; 3% from € 50,000.01 – € 200,000; etc. The total amount of copyright on each transaction may not exceed € 12,500.
CABRAL MONCADA LEILÕES undertakes to deliver the bill of sale to the seller within ten (10) days from the moment the payment in full of the item is made by the buyer. The payment of the amount of the sale to the seller, less premiums, charges and taxes payable, shall be made within eight (8) days after the sale account is made available. The seller must contact CABRAL MONCADA LEILÕES for such purpose.
Considering that the buyer must pay within ten (10) days from the auction’s last session it is therefore expected (but not guaranteed, as it is conditioned to the payment in full and collection of the item by the buyer) that the payment to the seller is made within twenty eight (28) days from the date of the auction’s last session.
When signing the contract the seller may authorize the subsequent sale in auction of lots not sold with the following reduction: Live auctions: 30%; online auctions: 50%. In this case there will be no storage costs.