Sales totals are hammer price plus buyer’s premium and do not reflect costs, financing fees or application of buyer’s or seller’s credits.
ONLINE ONLY AUCTION
Andy Warhol @ Christie's: Online Only
26 February - 5 March 2013
Andy Warhol (1928-1987)
U.S. Unemployment Rate
synthetic polymer on paper
23½ x 31½ in. (59.7 x 80 cm.)
Executed circa 1984.
CERTIFICATE OF PROVENANCE
All works from the Andy Warhol Foundation for the Visual Arts will be sold with a Certificate of Provenance, indicating the work originates from the Estate of Andy Warhol, and thence, the Andy Warhol Foundation for the Visual Arts. Christie's will maintain a database of these purchases which will be used to substantiate provenance in the future and supply relevant information to the Andy Warhol Catalogue Raisonné.
Further, each work is stamped with Estate of Andy Warhol and The Andy Warhol Foundation for the Visual Arts, Inc. stamps unless the work cannot physically be stamped whereas a separate document containing the stamps will accompany the work.
© The Andy Warhol Foundation for the Visual Arts. All Rights Reserved.
NOTICE FOR ENTITY BIDDERS
If you are bidding on behalf of an entity and the entity already has a MyChristie's account, the entity's name will need to be entered as part of the sale registration process. If the entity does not already have a MyChristie's account, you will need to contact Christie's Client Service center at (212) 636-2002. In either situation, Christie's may require the entity to provide certain documents or meet certain qualifications as set forth below. If you registered as an entity bidder, your entity will need to pay for any purchases via a credit card issued to the entity account and not a personal account. Christie's is not able to honor any reseller's certificates through the online-only auction process for this sale and cannot grant any exemption upon check-out for applicable sales tax. Successful entity bidders will be charged sales tax, if applicable, as part of the check-out process. Buyers claiming exemption and a refund must provide Christie's with the appropriate valid and up-to-date documentation and Christie's will facilitate the process of a refund if possible.
CHRISTIE'S INTEREST IN PROPERTY CONSIGNED FOR AUCTION
Where Christie's has a direct financial interest in lots consigned for sale, which may include guaranteeing a minimum price or making an advance to the seller that is secured solely by consigned property, the lot description for such lot will include language indicating such interest. The language will apply both in cases where Christie's holds the financial interest on its own, and in cases where Christie's has financed all or part of such interest through third parties.
PROPERTY INCORPORATING MATERIALS FROM ENDANGERED AND OTHER PROTECTED SPECIES
Property made of or incorporating (irrespective of percentage) endangered and other protected species of wildlife are marked with the symbol ~ in the lot description (or are identified in the lot description with language indicating as such). It is the client's responsibility to determine and satisfy the requirements of any applicable laws or regulations applying to the export or import of property containing endangered and other protected wildlife material. The inability of a client to export or import property containing endangered and other protected wildlife material is not a basis for cancellation or rescission of the sale. Lots containing potentially regulated wildlife material are marked as a convenience to our clients, but Christie's does not accept liability for errors or for failing to mark lots containing protected or regulated species.
ADDITIONAL CHARGES DETAILS
Additional charges, including buyer's premium, valued added, sales or compensating use tax or equivalent tax, any and all shipping expenses, including costs, packing and handling, any loss damage liability fees, and all other applicable charges will apply.
In addition to the hammer price (final bid price) of each lot, the winning bidder will be responsible for a buyer's premium for each lot sold. The buyer's premium is 25 of the hammer price of each lot.
New York Sales tax or valued added tax, sales or compensating use tax of any applicable jurisdiction will be collected before the lot can be released. It is the buyer's responsibility to ascertain and pay all taxes due. For international buyers, the terms of sale are Delivered Duty Unpaid (DDU) and duty and sales tax will be the sole responsibility of the buyer to be paid prior to shipment and/or delivery. The winning bidder will also be responsible for any and all shipping expenses, including costs, packing and handling, and any loss damage liability fees. Provided that your purchased lots are paid for in full, cleared funds by the payment deadline, Christie's will store your lots free of charge until the relevant deadline for shipment, at which time purchases will be shipped to you at your expense and pursuant to the instructions you provide at time of payment. Christie's will provide loss damage liability for purchased lots when arrangements are made for such lots to be shipped to you at a rate of 1 (one percent) of the total purchase price.
You must pay the full amount due (comprising the hammer price, buyer's premium, any applicable value added, sales or compensating use tax or equivalent tax, any and all shipping expenses, including costs, packing and handling, any loss damage liability fees and all other applicable charges) no later than 11:59 p.m. (EST) on March 7th, 2013. This applies even if you wish to export the lot and an export license is, or may be, required. You will not acquire title and own the lot until all amounts due to Christie's have been received by Christie's in full, cleared funds.
Provided that your purchased lots are paid for in full, cleared funds by the payment deadline, Christie's will store your purchased lots free of charge until the relevant deadline for shipment, at which time purchases will be shipped to you at your expense and pursuant to the instructions you provided at the time of payment. You must indicate if you wish to have your purchases shipped domestically or internationally at the time of check-out. Payment for your purchase, including any applicable charges for shipping, and a provision of your final shipping destination, must be returned to Christie's by the payment deadline to qualify for this extended free-of-charge storage. If shipping arrangements have not been confirmed for any items sold or such items have not been paid for in full, cleared funds by the payment deadline, administration and handling fees may be charged at Christie's full discretion. If such shipments can be facilitated, purchases will be shipped to the address you provide at check-out. Purchases cannot be delivered to P.O. boxes.
In addition to the hammer price, buyer's premium and any applicable value added, sales or compensating use tax or equivalent tax, you will be responsible for any and all shipping expenses, including costs, packing and handling, and any loss damage liability fees, as well as other applicable charges. Christie's will provide loss damage liability for purchased lots when arrangements are made for such lots to be shipped or delivered to you at a rate of 1 (one percent) of the total purchase price. This will be charged at check-out and will cover loss, theft, damage or breakage.
If the buyer fails to make payment in full, cleared funds by the payment deadline, Christie's will be entitled in Christie's absolute discretion to exercise one or more of the following rights or remedies (in addition to asserting any other rights or remedies available to us by law):
(i) To charge interest at such rate as we shall reasonably decide;
(ii) To hold the defaulting buyer liable for the total amount due and to commence legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law;
(iii) To cancel the sale;
(iv) To resell the property publicly or privately on such terms as Christie's and the seller shall think fit, and the buyer shall be liable for payment of any deficiency between the total amount originally due to us and the price obtained upon resale as well as for all costs, expenses, damages, legal fees and commissions and premiums of whatever kind associated with both sales or otherwise arising from the default;
(v) To pay to the seller an amount up to the net proceeds payable in respect of the amount bid by the defaulting buyer;
(vi) To set off against any amounts which we, or Christie's International plc, or any of its affiliates, subsidiaries or parent companies worldwide, may owe to the buyer in any other transactions, the outstanding amount remaining unpaid by the buyer;
(vii) To reject at any future auction any bids made by or on behalf of the buyer or to obtain a deposit from the buyer before accepting any bids.
(viii) To exercise all the rights and remedies of a person holding security over any property in our possession owned by the buyer, whether by way of pledge, security interest or in any other way, to the fullest extent permitted by the law of the place where such property is located. The buyer will be deemed to have granted such security to us and we may retain such property as collateral security for such buyer's obligations to us; and/or
(ix) To take such other action as we deem necessary or appropriate.
POST-WAR & CONTEMPORARY ART
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