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Conditions 3/2019

Participating at the auction, the bidder accepts the following conditions:

1. The auction relies on a free and voluntary basis. It is held by the Kunstauktionshaus Günther in Dresden GmbH (Dresdener Kunstauktionshaus) in its own name on behalf of third parties, with the exception of the company's own articles. All objects for auction are allocated to the delivery list printed in the catalogue. Interested bidders have no right to demand the public announcement of the consignor's name.

2. The descriptions in the catalogue do not represent guaranteed properties in the sense of §§ 459 ff. BGB (Bundesgesetzbuch - German Civil Code). All objects which are offered for auction can be viewed and examined before the auction and during the bidding process. They are auctioned in the condition in which they are at the time. The Dresdener Kunstauktionshaus shall not be held liable for visible and hidden defects or ascribed attributes; it does, however, commit itself to passing on to the depositor of the criticized article any notices of defect which are justified and which have been submitted without delay within the statutory warranty period. The Dresdener Kunstauktionshaus shall not be held liable for catalogue descriptions and the associated written explanations or for oral statements, unless the company can be blamed for gross negligence.

3. Bidding orders are carried out conscientiously; they must include detailed information and should be submitted in writing no later than the day before the start of the auction. Any parties ordering which are not known in detail to the auctioneer are requested to provide sufficient security by the start of the auction, as the execution of their bidding offers may otherwise not be effected. New customers need to provide a valid ID or passport for being registered and approved for auction.

4. The opening bid generally starts with the guided price given in the catalogue. As a rule, bids go up regularly by 10 percent, at least by 5 Euros. Any declared bid remains in effects until the conclusion of the auction of the respective object. The object is awarded to the respective bidder if no higher bid is offered after the auctioneer has repeated the highest bid three times and if the reserve price prescribed by the depositor (consignor) has been reached.

5. In the event that a bid has been awarded subject to reservations, the bidder is bound to his offer for a period of three weeks. In the event that he is not awarded the bid without reservations within this period, the offer becomes null and void. In the event that a reservation by the depositor is not approved, or if somebody offers the required reserve, the catalogue number can be awarded to a higher bidder without further enquiry of the bidder of the reservation. The bidder of the reservation is responsible for acquiring the information regarding the approval of his offer. For the award of the bid to come into effect, it is sufficient to send the written notification to the address given by the bidder.

6. The auctioneer is entitled to combine numbers, separate them, offer them in another than the normal order of sequence or withdraw the objects. The auctioneer can reject an offer; in this case the previously made bid remains the binding offer. If several bidders submit the same bid, the earliest bid in written form wins the lot. In the case of a dispute regarding an award, the auctioneer is entitled at his discretion to repeat the award immediately in favour of a certain bidder or to call up the object anew. Floor bidders will be preferred. In the event that the highest bidder refuses to allow his bid, the auctioneer is entitled to award the object to the bidder notwithstanding and follow up any rights which arise in this context; on the other hand he is also entitled to knock down the object to the nearest lower bid or to offer the object anew for bidding.

7. For bidders via telephone, the estimated value is the minimum offer. In the event that a telephone connection cannot be established, the telephone bidder can be awarded the object at the estimated value if no higher offer was submitted. The Dresdener Kunstauktionshaus will not offer any guarantees regarding the establishment of a telephone connection.

8. Once the object has been awarded, the bidder is under the obligation of acceptance and payment of the same. At the moment in which the object is knocked down, the risk for losses, damages, mix-ups etc., which do not fall within the responsibility of the auctioneer, are transferred to the buyer. Each bidder buys in his or her own name and for his or her own account.

9. The awarded bid (purchase price) is the net price. A premium of 25 percent is charged on the bidding price. The included statutory value-added tax is not shown separately. There will be a service charge for online bidding collected from the bidder, if the service is used: 3% coverage for lot-tissimo and 5% coverage for Invaluable customers. The total invoice amount shall be paid immediately, either in cash or via bank transfer resp. other payment methods after previous agreement to the Dresdener Kunstauktionshaus. In the event of a purchase by means of a previously submitted bidding order, the balance becomes due and shall be paid within 10 days of the date of the invoice. The Dresdener Kunstauktionshaus is not required to accept payments in foreign currencies. If it does however accept these payments, any losses incurred due to exchange rate fluctuations at the time of the exchange within a reasonable period as well as banking fees are charged to the buyer. Due to the tense situation placed on the accounts department at the time the auction is still in process, any invoices made out during and directly after the auction need to be examined with particular care and may have to be corrected if necessary. Errors excepted.

10. The ownership of the auctioned object is only transferred to the buyer after the full price has been paid. Any auctioned goods are only delivered after cash payment or wire transfer resp. payment using some other accepted payment methods has been effected. In the event that the buyer is in arrears with his payment, the Dresdener Kunstauktionshaus charges interest to the sum of 1.5% for each beginning month. The Dresdener Kunstauktionshaus reserves the right to claim compensation for further damages. Deferment of payment cannot be granted.

11. In the event that the bidder is in default regarding his obligation of payment or acceptance of the goods, the Dresdener Kunstauktionshaus can request fulfilment in place of the statutory rights. It is also entitled to sell the object again at any following auction. In the event that the object is sold at a subsequent auction, the rights of the defaulting buyer regarding the awarded bid become null and void. However, he is liable for any possible losses including the costs of the auction; on the other hand he is not entitled to payment of any surplus proceeds.

12. Shipping the items will be handled by the in-house service of the Dresdener Kunstauktionhaus at the expense and risk of the buyer. Bulky goods require extra attention and prior arrangements before being shipped. Objects which are not collected immediately and no later than 14 days after the auction, can be stored on the premises of a forwarding agent in the name and at the expense and risk of the buyer.

13. The above conditions also apply correspondingly for the subsequent purchase at market rates of auction goods.

14. Place of fulfilment for both parties shall be Dresden, Germany. Place of jurisdiction shall be Dresden, Germany, if the buyer is a full trader, a legal entity of the public sector or a public sector special fund, or if the buyer does not have a registered place of business within the jurisdiction of German laws, or if his place of residence is not known at the time of the filing of the action. The legal relations are determined by German law under exclusion of the Uniform Law on the International Purchase of Movable Objects and the Uniform Law on the Conclusion of International Contracts of Sale of Movable Objects.