Naked Heart Foundation Auction

The Transfiguration (2020) edition 2 of 6 is being auctioned on 13 July 2021 at a fundraiser event for Naked Heart France, part of the Naked Heart Foundation charity founded by Natalia Vodianova. Sedition members can place bids before the live event for a chance to own this iconic piece and contribute to the foundation's cause.

FAQ

How does the online auction work?

The online auction will take place on the artwork page on Sedition. When the bidding starts - at 10am CEST on Tuesday 13 July - the highest current bid will be displayed on the artwork page. Any interested Sedition member can enter their bids - the current highest bid, and the bidding history, will be visible on the page. The online auction will end on Tuesday 13 July at 7pm CEST, at which point the highest bid on Sedition will be given to the auctioneer at Naked Heart France and this will operate as a ‘commission bid’.

What is a commission bid?

A commission bid is the highest price that a buyer is willing to pay for the artwork. This is not necessarily the price that the buyer will pay - it is the maximum price they are willing to pay up to. For example if the highest bid on Sedition were $25,000, and the bidding at the live auction reached a maximum of $18,000 in incremental increases of $1,000, then the buyer on Sedition would win the auction with the next incremental bid - in this example $19,000. If the bidding in the room at the live auction exceeds the maximum bid on Sedition, then the buyer on Sedition pays nothing and does not acquire the artwork.

Where is the live auction taking place?

The charity dinner and live auction are being held at a venue just outside of Cannes, France.

What is the estimated price of the piece?

This is a charity auction so there is no set price. However the first edition of The Transfiguration (2020) was recently sold for approximately USD $40,000

What will the winning bid receive?

The winning bid will receive Edition 2/6 of The Transfiguration (2020), in their Sedition Vault along with its Certificate of Authenticity and the resale rights on Sedition’s Trade platform. Artworks on Sedition’s Trade platform can be bought or sold for a profit or loss. Sedition’s usual 10% fee for Trade platform sales will be donated to the Naked Heart France charity for any future sales in perpetuity.

When will the winner be announced?

The winning bidder will be announced at the conclusion of the live charity auction on the evening of 13 July. As the auction is a live event the exact finish time is unknown but we anticipate announcing the winner before midnight CEST on 13 July 2021.

What happens if my bid is not the highest?

Only the highest bid is displayed on the Sedition auction page. If you enter a lower bid then the system will inform you that your bid is invalid / or you have been outbid by another buyer. At the conclusion of the Sedition online auction, only the highest bid will be entered into the live auction in France as a commission bid (see above for definition of ‘commission bid’).

During the bidding process, interaction between the Sedition platform and your payment card is as follows:

  • During bidding we'll reserve the funds on the payment card.
  • When increasing bids we'll record the new bid and release the record of the previous bid, meaning you will need to have enough funds in the payment account to briefly keep both reserves active.
  • When you are outbid your funds are released.

Releasing reserved funds is usually a quick process (a few minutes) but depending on your credit card it may take longer (a few business days).

What happens if I have the same highest bid as another bidder?

If several identical bids are entered into Sedition, the page will display the first one received by our system.

How to bid?

You can enter your bids into the system by typing the number (price in dollars) into the box below the current highest bid, pressing enter or clicking ‘bid’, and entering your card details when prompted. If you are the highest bidder, your bid will display on the screen for everyone to see. Please note that bid payments can only be made via credit or debit card, not via bank transfer or other means.

Can I bid anonymously?

Bids will be either anonymous or identifiable according to your profile settings on Sedition. If you do not wish to be visible then go to your Account settings and select ‘make my profile private’.

Can I withdraw a bid?

Bids are irrevocable once entered and cannot be withdrawn during the online auction, they can only be raised to a higher bid.

Does this edition exist as a NFT?

No. We are in the process of making Sedition artworks NFTs - although it is important to note that this work is not an NFT nor being sold as one yet. Both Universal Everything and Sedition have ethical concerns about NFTs and the associated energy/resource costs and for that reason we are doing things differently - our curatorial approach with a focus on quality will remain the guiding principle on what we present, and we will integrate resource efficient NFTs in due course. Further announcements will be made on this shortly.

Terms & Conditions

The following terms and conditions provide important information related specifically to Sedition’s online bidding. Please be aware that these terms are in addition to Sedition’s Terms and are not intended in any way to serve as a substitute. By bidding in a Sedition online auction you agree to be bound by these Terms and Conditions.

Sedition online auctions

Only Sedition members are able to place bids in a Sedition online auction. To participate it is necessary for the prospective buyer to first create an account on www.seditionart.com

Please note that Sedition reserves the right, at our complete discretion, to refuse your registration or participation in the auction via Sedition’s online bidding process. Prospective buyers are responsible for making themselves aware of all auction notices and announcements. Prospective buyers are strongly advised to examine personally any lots in which they are interested, before the auction takes place, and to contact support@seditionart.com with questions about the auction lots in advance of the auction date.

Bidding

Bidding through Sedition is provided as an online service available only via www.seditionart.com; it is not possible to place bids from Sedition’s apps. Sedition reserves the right to refuse or revoke permission to bid online and to remove online bidding privileges during the sale.

If your computer is logged on to Sedition and a successful bid is sent to Sedition from your computer, you are accepting personal liability to pay the purchase price, and all applicable taxes and other applicable charges.

A live auction is by its nature fast-moving and competitive bidding can progress very quickly. To ensure that online bidders are not placed at a disadvantage when bidding against bidders in the room or on the telephone, the Sedition online auction will end prior to the start of the live auction. The highest bid will then be entered into the live auction as a commission bid.

Commission bids

A commission bid is the highest price that a buyer is willing to pay for the artwork. This is not necessarily the price that the buyer will pay - it is the maximum price they are willing to pay up to. For example if the highest bid on Sedition were $25,000, and the bidding at the live auction reached a maximum of $18,000 in incremental increases of $1,000, then the buyer on Sedition would win the auction with the next incremental bid - in this example $19,000. If the bidding in the room at the live auction exceeds the maximum bid on Sedition, then the buyer on Sedition pays nothing and does not acquire the artwork.

To submit a bid, enter the amount and submit your bid by clicking the “Bid” button. You can enter any amount in the Bid box as long as it is higher than the current bid. Your bid is irrevocable once it is submitted and cannot under any circumstances be retracted, but it can be raised to a higher bid.

Sedition members may submit bids during the online auction until the point when the auction ends. You bid by entering the amount and clicking the “Bid” button. Your bid cannot be revoked once submitted. When the auction ends, if yours is the highest bid it will be passed to the live auction as a commission bid, with Sedition placing bids incrementally on your behalf in an amount that is a whole bidding increment until your maximum bid amount. Bidding in the auction room will be in EUR: if when converted to Euros your bid is not a multiple of 500 EUR it will be rounded down in the auction room.

The record of sale, kept by Sedition and the auctioneer, will be taken as absolute and final in all disputes. In the event of a discrepancy between any online records or messages provided to you and the record of sale kept by the auctioneer, the record of sale will take precedence.

Payment and Collection

During the bidding process, interaction between the Sedition platform and your payment card is as follows:

  • During bidding we'll reserve the funds on the payment card.
  • When increasing bids we'll record the new bid and release the record of the previous bid, meaning you will need to have enough funds in the payment account to briefly keep both reserves active.
  • When you are outbid your funds are released.

Releasing reserved funds is usually a quick process (a few minutes) but depending on your credit card it may take longer (a few business days).

If you are the successful bidder you will receive a notification through your email and Sedition account within 24 hours. Please note that if you are the successful bidder, no charge will be made to your credit card on Sedition until the end of the live auction that immediately follows the online auction on www.seditionart.com. Bidding is possible using credit card only and not bank transfer or other means. Please note that while results are published on Sedition after the auction, we do not accept responsibility for notifying you of the result of your bids.

If you make an online payment via credit or debit card, you warrant that you are the cardholder; and acknowledge that Sedition has no liability for your payment not reaching us, for example where payment is refused or declined by the card supplier.

Card and other payment information is collected and processed directly by a third party service provider (“Payment Service Provider”) and not by Sedition.

The Payment Service Provider may undertake fraud prevention reviews prior to processing any payment or as part of the payment process. Sedition does not have access to, or retain any credit card information.

All payments by credit card or debit card need to be authorised by the relevant card issuer.

Once an online payment has been made and received by Sedition, you will receive a confirmation email. If confirmation is not received within 14 days, it is your responsibility to check with Sedition and/or your bank/card supporter that the payment has been accepted.

Currency Conversion

All purchases are processed in USD. Pricing displayed in different currencies is available for your convenience only (currency rates used for these displays are based on official currency rates and are updated daily). At the moment of purchase, the payment will be processed by Sedition in USD.

Sedition reserves the right to update and amend these T&Cs up until the start of the online auction. Please review and check these terms prior to the commencement of bidding.

Technical Considerations

Sedition offers internet services as a convenience to our clients, but Sedition will not be responsible for errors or failures to execute bids placed on the internet, including, without limitation, errors or failures caused by (i) a loss of connection on Sedition’s or your end; (ii) a breakdown or problems with the online bidding software and/or (iii) a breakdown or problems with a client's internet connection, computer or system. Execution of online internet bids is a free service undertaken subject to other commitments at the time of the sale and Sedition does not accept liability for failing to execute an online internet bid or for errors or omissions in connection with this activity.

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