AUCTION TERMS AND CONDITIONS

This document establishes the Terms and Conditions by means of which Galería Bernardini y Casa de Subastas, S.A. de C.V. (the "Gallery"), grants the User a palette number, by means of which they may identify themselves in the auctions.

Access to the pallet number and the auction will require acceptance of the Terms and Conditions established herein, so the User must read this document in its entirety.

In case of agreeing with the Terms and Conditions of the service provided by the Gallery, the User must confirm that he/she has read, knows and agrees with them, by means of his/her consent referenced in signature.

For the purposes of a better understanding of the Terms and Conditions, the following glossary is extended:

Terms and Conditions: as set forth herein.

Auction: a public sale in which a work of art is awarded to the person who offers the most money for it.

Bidding: competition that is carried out in auctions by offering an amount of money in order to be the one who offers the most and acquire a work of art by this means.

Palette number: the number that is awarded to those people who want to bid in the auctions held by the Gallery.

Gallery: Galería Bernardini y Casa de Subastas, S.A. de C.V.

User and/or Bidder: those persons who request to participate in order to bid in an auction held by the Gallery.

Hammer: cost for the management, operation, and administration of the auction.

Lot: the way in which the artwork or works will be organized in order to be auctioned, will be made up of at least one piece at the discretion and decision of the Gallery.

Purchase and Sale Contract: instrument by means of which the acquisition of a work awarded at auction will be formalized.

The Gallery reserves the right to modify these Terms and Conditions at any time, in whole or in part.

Obligations of the User

1. To be part of an auction held by the Gallery you need to obtain a pallet number, therefore, you must duly sign the Terms and Conditions accompanied by a valid official identification.
2. Not to carry out improper or inappropriate acts in the auction, such as false, illegal operations or those that affect the image of the Gallery, otherwise they will be responsible for the damages caused to the Gallery and to the people related to its operation.
3. Not to copy, distribute or disclose the personal or operational information of the Gallery or any other user, whether electronically or physically, or to make it public by any other means without their consent, otherwise you will be responsible for the damages caused to the Gallery and to the people related to its operation.
4. To provide the Gallery with truthful, complete, correct information that corresponds to the User's current situation, related only to what is leading to the auction service.
5. Bidding only for the items to be purchased, otherwise the User will be entitled to a conventional penalty of 18% of the total value of the auctioned piece that he managed to win but is not obliged to pay.
6. In the event of placing a bid and winning in the auction, the User undertakes to submit to the contents of these Terms and Conditions, as well as to the Gallery's Purchase and Sale Agreement.

I. Of the Auction Process

1. The auction will be held on the day, time and place (online or in person) established by the Gallery.
2. Within the auction, the works of art will be organized by lots at the discretion of the Gallery, which will be marked with a number which will be communicated to the bidders through the auction catalog.
3. The minimum or maximum quantities with which bids may be placed shall be those defined in the catalogue.
4. When putting a lot up for auction, the auctioneer will award it a starting price so that the bidders can place the respective bids.
5. For a lot to be awarded, there must not be any other bid that improves the previous one.
6. The auctioneer will mention the bidder who has won the bid on the lot.
7. Once a lot has been awarded, no claims or cancellations are accepted, and the User must submit to the purchase process through the Purchase Contract provided by the Gallery, or to the conventional penalty of 18% of the total value of the auctioned piece.

Lot Award

Once a lot has been awarded by the auctioneer, the User must formalize the purchase through the Auction Work Purchase and Sale Contract, which will be provided by the Gallery.

The Gallery has a policy of non-cancellations on the awards of the lots, therefore, the signing of these Terms and Conditions constitutes the obligation that the User has to complete the purchase of the lot if their bid has been the one that was the winner; thus, the User must compensate the Gallery with 18% of the total amount of the lot in case of not submitting to the process of awarding the lot established herein, and regardless of the above, the User is responsible for the damages derived from the breach of what is established herein.

Headlines

The headings are included only for the ease of reading the Terms and Conditions, but must not alter in any way the interpretation of them, and must at all times be in accordance with the text of this document.

Jurisdiction

The User agrees to submit to the laws and courts of Mexico City to settle any controversy with the Gallery derived from these Terms and Conditions, waiving any other jurisdiction that, due to their present or future addresses, or for any other reason, may correspond to them.