Avetis Khachatrian

ART GAP SAL
WAC.art Platform Auction Terms & Conditions

— Last updated April 23, 2025

These Conditions of Sale and Terms of Use contain the complete agreement between “ART GAP SAL” and the “seller” (also referred to as “Art Gap,” “we,” “us,” “our,” or “ourselves“) and you, the “buyer” (also referred to as “you,” “your,” or “bidder“). Any updates or modifications to these terms will be published on ART GAP’s auction platform “WAC.art“, during the sale and will take precedence over previous terms.

BY REGISTERING TO BID AT THE AUCTION, YOU AGREE TO BE BOUND BY AND ACCEPT THESE TERMS OF SALE AND USAGE.

Please review the Terms of Sale thoroughly before registering.

ART GAP AS AGENT
Unless stated otherwise, Art Gap acts as an agent for the seller. The sale contract is formed directly between the seller and the buyer.
EXPLICIT CONTENT
This online auction may contain explicit material and mature subject matter, including artwork featuring nudity or other content that some may find offensive. By accessing this website, you confirm that:
1. You are of legal age in Lebanon (18 years or older).
2. You are not prohibited by any laws in your country from viewing such material.
3. You agree not to copy, distribute, or retransmit any content from this website without prior written consent from Art Gap.
BIDDER REGISTRATION
1. Registration:
  If you already have an account, you can log in using your existing username and password to register for the auction. If you have multiple accounts, you must select the one under which you wish to transact. New users must create an account by following the instructions on the WAC.art platform and providing the required information.
2. Registering as Principal/On Behalf of a Company:
  If bidding on behalf of an entity, you must enter the entity’s name during registration. If the entity does not have an account, online registration is not possible. Contact Art Gap at the provided phone number or email address. Art Gap may require your entity to provide certain documents or meet certain qualifications as set forth below.
  As a successful bidder, if you registered as an entity bidder, your entity will need to pay for any purchases via a credit card issued to the entity’s account and not a personal account.
  Once registered, your username and password are strictly confidential. You are responsible for all actions taken through your account, including fraudulent activity, if your credentials are shared with a third party.
3. Registration Requirements:
  To register, you must provide the requested information, including valid credit card details. If bidding for an entity, provide the entity’s credit card information. Art Gap may request corporate documents for entity registrations, and you will be contacted if such documentation is needed.
  Registration must be completed at least 24 hours before the auction to allow sufficient processing time.
4. Refusal of Registration:
  Art Gap reserves the right to refuse registration, revoke bidding permissions, or refuse to award you lots at any time before, during, or after the sale.
PRIVACY AND PERSONAL DATA
Art Gap respects user privacy and data protection. By registering, you consent to Art Gap processing your personal data.
Art Gap guarantees that your personal data will not be accessed by third parties, sold, or shared. Art Gap does not retain or access credit card information.
BEFORE THE SALE
1. Examination of Property:
  You are strongly encouraged to inspect any lot of interest personally. Art Gap is available to provide condition reports upon request.
2. Lot Descriptions:
  All descriptions provided by Art Gap, whether online, oral, or written, are opinions given in good faith and should not be relied upon as proof of fact. Such statements do not constitute a representation, warranty or assumption of liability by us of any kind. Relining, stretching and mounting are considered measures of preservation and not a default. Therefore, they will not be mentioned. The contents of any lot description are subject to change and should not be relied upon as definitively representing the lot.
  References in the lot description or any other supplementary material to damage are for guidance only, and should be evaluated by personal inspection by the bidder or a knowledgeable representative. The absence of such a reference does not imply that an item is free from any current, past or repaired defects, nor does a reference to particular defects imply the absence of any others. Except as set forth in paragraph 8(a) below, neither Art Gap, nor the seller is responsible for errors or omissions in the lot description or any supplemental material, including but not limited to photographs.
3. Estimates:
  Estimates are based on recent auction prices for comparable items, considering condition, rarity, quality, and provenance. Estimates are subject to revision. Estimates of the selling price should not be relied on as a statement that this is the price at which the item will sell or its value for any other purpose. Estimates do not include the buyer’s premium, sales taxes or shipping charges including export or import licenses.
4. Buyer’s Responsibility:
  All items are sold “as is,” with no warranties from Art Gap or the seller, except as outlined in the Limited Warranty in section 8(a). Buyers are responsible for verifying the condition of items and staying informed of any updates to these terms on WAC.art online platform.
AT THE SALE
1. Internet issues:
  The online bidding platform is optimized for broadband connections. Art Gap is not liable for technical issues, such as connectivity problems, corporate firewalls, or digital image errors.
2. Sale reorganization:
  ART GAP will conduct sales at their discretion, ensuring freedom and equality among all purchasers, in accordance with established practices. ART GAP reserves its right to refuse a purchase, to organize the sale in such manner as may be the most appropriate, to move some lots, to withdraw any lot and to combine or to divide some lots, for any reason. In case of challenge or dispute, ART GAP reserves its right to continue the sale or to cancel it, or to put the lot back up for sale.
3. Bidding as Principal:
  Bidders, whether individuals or entities, are personally liable for the purchase price, including the (i.e. the amount of the highest bid for the sale of a lot), together with the buyer’s premium, plus any applicable value added, sales tax or equivalent tax, any and all shipping expenses, including costs, packing and handling, any loss damage liability fees, and all other applicable charges.
4. Online Bidding Process:
  Bids are final and cannot be amended or retracted. Neither Art Gap nor the seller is responsible for your errors in bidding.
5. Reserves:
  All lots are offered subject to a reserve, which is the minimum price the seller will accept and below which the lot will not be sold. The reserve will not exceed the low pre-sale estimate.
6. The Record of Sale:
  The official sale record is final in all disputes.
7. Employee Bidding:
  Art Gap’s employees may participate in the auction.
8. Seller Representation:
  Art Gap may bid on behalf of the seller up to the reserve price but will not disclose such bids.
9. Bid Increments:
  Art Gap determines the starting point and increments for bidding.
AFTER THE SALE
1. Successful Bids:
  The highest bid when the lot closes will be the successful bidder. This means a contract for sale has been formed between the seller and the successful bidder. Winning bidders will receive an email notification of any successful bid. If multiple identical bids are received, precedence is given to the first bid received.
2. Buyer’s Premium and taxes:
  In addition to the final bid hammer price for each lot, you agree to pay Art Gap the buyer’s premium of 10%, as well as any shipping expenses if applicable. The successful bidder is responsible for any applicable tax including any VAT or sales tax or equivalent wherever such taxes may arise on the hammer price and the buyer’s premium. It is the buyer’s responsibility to ascertain and pay all taxes due.
3. Payment Deadline and Passing of Title:
  Full payment should be made in USD currency and is due within seven days of the auction closing. Title transfers only after full payment is received even in circumstances where Art Gap has released the lot to you.
4. Payment Method:
  Payment must be made via MasterCard or Visa, bank transfer or cash.
5. International Duties:
  For international buyers, the terms of sale are Delivered Duty Unpaid (DDU). It is your responsibility to ascertain and pay all international duties, customs charges, taxes and tariffs owed to the appropriate government entity or to be paid prior to shipment and/or delivery.
6. Retention of Sold Property:
  Art Gap reserves the right to retain any sold items until all outstanding payments owed by the buyer have been received in full. Additionally, Art Gap may impose further conditions at its sole discretion, including, but not limited to, the completion of any necessary anti-money laundering or anti-terrorism financing checks to its satisfaction. If the buyer fails to make the required payment or does not satisfactorily complete these checks, Art Gap may cancel the sale and take any necessary actions in accordance with applicable law.
  For purchased lots requiring shipment, Art Gap offers loss and damage liability coverage at a rate of 1% of the total purchase price, which will be applied at checkout. This coverage protects against loss, theft, damage, or breakage. While Art Gap takes reasonable care in handling, packing, and facilitating the shipment of purchased lots, neither Art Gap nor the seller is responsible for the actions or omissions of third-party service providers engaged for these purposes, including packing, shipping, or delivery.
7. Risk – Insurance:
  Risk transfers to the buyer upon collection of the lot or 90 days following the closing date of the auction, whichever comes first. Buyers must insure items from this point.
8. Import/Export Licenses:
  Unless otherwise agreed by Art Gap in writing, the fact that the buyer wishes to apply for an import and/or export license or some other permit and/or license for shipment does not affect his or her obligation to make payment on the payment due date, nor Art Gap right to charge interest or storage charges on late payment. A delay in obtaining (or a failure to obtain) required permits or licenses shall not justify a rescission of any sale nor a delay in making payment in full, cleared funds for the lot, and Art Gap shall not be obligated to refund any interest or other expenses incurred by the buyer. Local laws may prohibit the import of some property and/or may prohibit the resale of some property in the country of importation. No such restriction shall justify the rescission of any sale or delay in making payment in full, cleared funds for the lot.
9. Remedies for Non-Payment:
  Art Gap may charge interest, cancel the sale, resell the item, or take legal action for non-payment. If the buyer fails to make payment in full, cleared funds by the payment due date required by paragraph 7(e), Art Gap will be entitled in our 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):
  1. to charge interest at such rate as Art Gap shall reasonably decide;
  2. 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;
  3. to cancel the sale without the need of any judicial proceedings;
  4. to resell the property publicly or privately on such terms as Art Gap 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;
  5. to set off against any amounts which Art Gap, may owe to the buyer in any other transactions, the outstanding amount remaining unpaid by the buyer;
  6. 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; and/or
  7. to take such other action as Art Gap deems necessary or appropriate.
10. Failure to Provide Shipping Instructions:
  If shipping arrangements are not made within seven days, Art Gap may store items at the buyer’s expense.
EXTENT OF LIABILITY
1. Limited Warranty:
  Art Gap provides a limited warranty for a period of three years from the date of the auction, subject to the following terms and conditions:
  Subject to the terms and conditions of this paragraph, Art Gap warrants for a period of three years from the date of the auction that any property described in headings printed in UPPER CASE TYPE (i.e. headings having all capital-letter type) in the lot description (as such description may be amended by any announcement) which is stated without qualification to be the work of a named author or authorship, is authentic and not a forgery. The term “author” or “authorship” refers to the creator of the property or to the period, culture, source or origin, as the case may be, with which the creation of such property is identified in the UPPER CASE description of the lot.
  
  Only UPPER CASE TYPE headings of lots in the lot description indicate what is being warranted by Art Gap. Art Gap warranty does not apply to supplemental material which appears below the UPPER CASE TYPE headings of each lot and Art Gap is not responsible for any errors or omissions in such material. The warranty does not apply to any heading which is stated to represent a qualified opinion.
  
  The warranty is subject to the following:
  1. The warranty does not apply if:
    1. The lot description or any online notice accurately reflected the generally-accepted opinion of scholars or experts at the time of sale or indicated a conflict of opinions
    2. The correct identification of the lot can only be established through a scientific process that was either not generally accepted at the time of the auction or was prohibitively expensive, impractical, or likely to damage the property.
  2. The warranty is non-transferable and applies only to the original buyer listed on the invoice issued by Art Gap at the time of sale.
  3. The original buyer must retain ownership of the lot without transferring any interest in it to a third party.
  4. The buyer’s sole and exclusive remedy under this warranty is the cancellation of the sale and a refund of the original purchase price paid.
  5. Art Gap and the seller are not liable for:
    1. Any loss of profits, revenue, business opportunities, goodwill, or interest.
    2. Any special, incidental, or consequential damages.
  6. To make a claim under this warranty, the buyer must provide written notice to Art Gap within three years from the auction’s closing date. Art Gap reserves the right to require the buyer to obtain written opinions from two recognized experts in the field, mutually agreed upon by both parties, before deciding whether to cancel the sale.
  7. The buyer must return the lot to the Art Gap in the same condition as it was at the time of the auction.
  8. Your sole recourse under this Limited Warranty is the cancellation of the sale and a refund of the purchase price plus the buyer’s premium. No additional compensation will be provided.
  9. Art Gap is not responsible to you for any reason (whether for breaking this agreement or any other matter relating to your purchase of, or bid for, any lot) other than in the event of fraud or fraudulent misrepresentation by us. Art Gap assumes no responsibility to any person other than the original buyer. If Art Gap is found liable for any reason despite the terms outlined in this paragraph, its total liability will not exceed the purchase price plus the buyer’s premium. Art Gap will not be liable for any loss of profits, business opportunities, expected savings, interest, or other damages.
2. Extent of Liability:
  1. Neither Art Gap, nor the seller, nor any of their officers, employees, or agents are responsible for the accuracy of any statements (written or oral) concerning any lot, including descriptions, errors, or omissions. No warranties, representations, or guarantees are made regarding the merchantability, fitness for a particular purpose, description, size, quality, value, condition, attribution, authenticity, rarity, significance, medium, provenance, exhibition history, literature, or historical relevance of any lot. Except as required by applicable law, all warranties are expressly disclaimed.
  2. Neither Art Gap, the seller, nor their representatives are liable for any loss resulting from the confiscation of a purchased lot by any government or public authority due to restricted transportation laws or other regulations.
  3. In addition to other cancellation rights stated in this agreement, Art Gap reserves the right to cancel the sale of any lot if it reasonably believes that completing the transaction would be unlawful, could expose Art Gap or the seller to liability, or could harm Art Gap’s reputation.
COPYRIGHT
All images, illustrations, and written material produced by Art Gap, including but not limited to the lot description, is and shall remain at all times the property of Art Gap and shall not be used by the buyer, nor by anyone else, without the prior written consent of Art Gap. Art Gap and the seller make no representation or warranty that the buyer of a property will acquire any copyright or other reproduction rights in it.
The contents of the online-only auction as displayed on WAC.art website, including but not limited to text, graphics, and images (hereinafter the “Material”) are protected by copyright, trademark and other laws and are owned or controlled by Art Gap.
SEVERABILITY
If any part of these terms is found invalid, the remaining terms remain in full effect.
LAW AND JURISDICTION
These Conditions of purchase are governed by Lebanese law exclusively. Any dispute relating to their existence, their validity and their effect shall be submitted to the exclusive jurisdiction of the Courts of Lebanon.

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