As we explained in a recent post, JWA Classic has decided to support medical research and the Paris Brain Institute for its first Soft Auction campaign.
In practise, at least 1% of each sale will be donated by JWA Classic to the Paris Brain Institute.
Now, let’s explain how this will work.
If the sale is concluded during the presentation period, i.e. before the online private auction, JWA Classic will take over this donation.
Of course, if the buyer wishes to make a joint donation, this is possible.
– Mr Smith makes an offer at €100,000 during the presentation period and his offer is accepted.
In this case, the details of the payments are as follows:
—— – Final amount paid by Mr Smith to JWA Classic: €100,000
—— – Amount donated to the Paris Brain Institute by JWA Classic: €1,000€ (€1,000€*1%)
—— – Amount donated to the Paris Brain Institue by Mr Smith: at his own discretion (no obligation)
If the sale is concluded at the end of the private online auction, a 1% fee will be applied to the hammer price to be donated to the Paris Brain Institute.
JWA Classic will match this amount to double the donation.
– Mr Smith wins the auction at €100,000
——in which case the donation for the Paris Brain Institute is €1,000 (€100,000*1%)
– Final amount paid by Mr Smith to JWA Classic = €101,000
– Total amount paid to the Paris Brain Institute by JWA Classic = €2,000
—— – €1,000 on behalf of the Mr Smith
—– – €1,000 on behalf of JWA Classic
We are really happy to have the possibility to implement this and we hope we’ll be able to send soon the first donation to the Paris Brain Institute.