Terms and conditions

PRECONDITIONS TO SALE

By placing a request to purchase from Affordable Art, the Purchaser agrees to be bound by the terms herein.

1.1 Fobally Art World Africa acts as agent for the Vendor and, therefore, the contract of sale is made between the Vendor and the Purchaser.
1.2 The Purchaser is responsible for satisfying himself/herself concerning the condition of the Artwork as contained in the catalogue entry. This can be done by, for example, a personal inspection and examination of the Artwork in which they are interested (upon request) and a consultation with the Artist or any other authority on the subject (if known to the Purchaser) and/or a review of past-sales amounts for similar items, where available.

1.3 Neither Fobally Art World Africa nor the Vendor provides any guarantee in relation to the Artwork, which is sold in “as is” condition to the Purchaser. This pertains to, but is not limited to, the condition of the work, the authorship and authenticity of the work and any descriptive or historical detail about the work that is disclosed verbally or printed in the catalogue or elsewhere. In good faith to the Purchaser, signed declarations by the Vendor warrant the following:
a. the Vendor is the owner of the item, or is properly authorized by the owner to sell the item.
b. The Vendor can and shall, in accordance with the conditions set upon him by Fobally Art World Africa, transfer possession to the Purchaser with good and marketable title to the item, free from any third-party rights, claims or potential claims (including without limitation, by governments or governmental agencies).
c. The Vendor has provided Fobally Art World Africa in writing with all information concerning the item’s provenance and has notified Affordable Art in writing of any concerns expressed by third parties concerning its ownership, condition, authenticity, attribution and export or import history.
d. The Vendor has paid or will pay all taxes and duties potentially due to him on the sale proceeds of the item.

1.4 All statements by Fobally Art World Africa made orally or printed in the catalogue entries or on its website are statements of opinion and not to be relied on as statements of fact. Such statements do not constitute a representation, warranty or assumption of liability by us of any kind.

1.5 When making a purchase, a Purchaser is accepting personal liability to pay the purchase price, including the purchase price and all applicable taxes, plus all other applicable charges. This does not apply if the Purchaser is acting as agent on behalf of an identified third party acceptable to Fobally Art World Africa and this has been explicitly agreed in writing with Fobally Art World Africa before the commencement of the sale. In respect of this situation Fobally Art World Africa will only consider the principal liable for payment. In addition to the purchase price, the Purchaser agrees to pay Fobally Art World Africa the applicable Value Added Tax (VAT)(“This becomes the Contract Sum”). The VAT, subject to Nigerian law is 7.5% of the total purchase price.

1.6 Immediately following the sale, the Purchaser must confirm his or her name and permanent address and, if applicable, the details of the bank from which payment will be made. The Purchaser must pay the full amount due (comprising of the purchase price and any applicable taxes) immediately after the sale. This applies even if the Purchaser wishes to export the Artwork and an export license is, or may be, required. The Purchaser will not acquire title to the Artwork until all amounts due to Fobally Art World Africa from the Purchaser have been received in good cleared funds even in circumstances where the Artwork has been released to the Purchaser.