Diamantbrosche, excellente Juweliersarbeit in Platin und Weissgold 18K, signiert Meister, Zürich, 64

TERMS OF AUCTION SALE

FOR JEWELLERY AND WATCHES

1. These auction conditions apply to the traditional hall auction

as well as to the online auction “Rapp Online Only”.

2. The items offered for auction are auctioned by Peter Rapp

AG on behalf of and for the account of the consigner.

Peter Rapp AG acts on behalf of and for the account of the

seller and his agent.

3. The auction takes place voluntarily and publicly against immediate

cash payment in Swiss francs. Foreign currencies

are accepted at current exchange rates or as credited by a

major Swiss bank. The day of receipt or credit applies.

Peter Rapp AG has the right to withdraw, regroup or refuse

to knock down any lot. In the event of identical bids, the

one first received takes precedence; in the event of misunderstandings,

the lot is reoffered. Bidding increments are

at a minimum of 5% and a maximum of 10%.

4. The highest bidder will be awarded the lot and is obliged to

complete the purchase. A commission of 25% is charged

on the hammer price.

5. Buyers must pay Swiss VAT (currently 7.7%) on the commission,

all postage and insurance costs, and all additional

services.

All lots marked with * in the auction catalogue are subject

to VAT in full. For these lots, Swiss VAT (currently 7.7%) is

charged on the hammer price plus commission, all postage

and insurance costs, and all additional services.

The value added tax is inapplicable if the lots purchased at

auction are shipped abroad by Peter Rapp AG. Value added

tax will be invoiced to purchasers resident outside Switzerland

who personally collect the lots in Wil. However, it can

be refunded later on if an export certificate that has been

legally confirmed by the Swiss customs authorities is submitted

to us. Domestic traders can deduct the VAT amount

paid to Peter Rapp AG in their own VAT account as pre-tax.

The buyer agrees that Peter Rapp AG shall also receive a

commission from the consignor.

6. Buyers have the chance to submit their bids in real time via

the online live bidding system of Philasearch, Numissearch

and Antiquessearch. To do so, you must register at www.rappauktionen.

ch. Apart from the terms of auction sale outlined

under points 4 and 5, no additional charges are incurred

when using this service.

If you would rather not place your bid via the Rapp online

bidding system and prefer a different method, the surcharge

is calculated on the basis of the respective website’s

issued terms and conditions.

7. All those persons bidding who are not personally known to Peter

Rapp AG must register by completing a form 48 hours prior

to the start of the auction. New customers must supply the

following:

· a copy of a valid passport or identity document

· a valid credit card

8. The purchased lots must be paid promptly upon receipt of

the invoice, but in no event later than within 7 days after

the end of the auction. Upon exceeding this deadline for

payment, the purchaser is immediately considered to be in

default and, in the event of delayed payment by the buyer

or refusal to take delivery, Peter Rapp AG is authorized to

charge interest, currently at the rate of 5% p.a. In the event

of payment delay on the part of the purchaser or refusal

to take delivery, Peter Rapp AG reserves the right to either

sue for performance of the contract as well as for payment

of the purchase price and indemnification, or to rescind

the sales transaction. In that event, Peter Rapp AG is authorized

to otherwise dispose the lots, particularly to sell

them by private treaty or to reauction them or to have them

reauctioned. In any event, the purchaser is liable for the

resulting damage as well as for any deficiency in proceeds.

He does not have a claim to any excess proceeds and will

not be authorized to submit further bids.

9. In principle, the lots are handed over upon full payment of

the auction invoice. It is solely in the discretion of Peter

Rapp AG to hand over the lots concurrently with invoice

presentation. The lots are privately insured by Peter Rapp

AG and forwarded to the purchaser by mail or by other means;

as a rule, as registered or valued matter. Forwarding

costs and insurance premiums are at the purchaser’s expense.

10. Until full payment of the entire invoice is rendered, title to

all purchased lots remains with the consignor. Prior to that

time, they may neither be resold, pledged nor otherwise

transferred to a third party by the purchaser. Offset pleas

of any type are precluded.

11. The lots on auction have been described conscientiously

and with greatest care. However, the description and pictures

do not represent guaranteed features. Justified complaints

must be received by Peter Rapp AG not later than

three weeks after the auction.

12. The lots presented in this catalogue are sold in whatever

the condition they are in at the fall of the hammer.

Upon the fall of the hammer, all benefits and risks in

connection with the lots transfer to the purchaser. All

prospective purchasers have the opportunity to inspect

the condition of the lots carefully in person during

the viewings held prior to the auction. Descriptions of

lots in this catalogue only reflect an opinion and do not

constitute a guarantee of particular characteristics. The

auction house shall neither be held liable for incorrect

attributions or incorrect details regarding the provenance,

date, age, origin, condition or authenticity; nor

for any other obvious or hidden defects.

12.1 Descriptions in the eCatalogue as well as copies of possible

pictures and certificates for the attention of mail or online

bidders, do not represent guaranted features and are no

guarantee for quality, quantity or genuineness of the lot.

13. If, within the time limit for claims, i.e. no longer than 25

days after the auction has ended, the buyer presents the

auctioneer a written evidence based on a recognized

expert‘s report and proving that the purchased lot is – contrary

to the catalogue description – false, the auctioneer

will rescind the purchase and refund the purchase price on

condition that the lot is returned within the limit for claims

and in the same condition as at the fall of the hammer.

Claims received by Rapp Auctions later than 25 days after

the auction has ended cannot be accepted. Paragraph 11

applies only to watches. Items of jewellery are excluded.

14. Lots with more than one sample are excluded from any

kind of complaint.

15. All lots may be inspected in Wil prior to and during the

auction within the hours indicated in the catalogue.

Descriptions in the eCatalogue as well as copies of possible

pictures and certificates for the attention of mail

bidders, do not illustrate guaranteed features and are no

guarantee for quality, quantity or genuineness of the lots.

16. Complaints regarding the grading or disagreement regarding

the condition of the purchased auction lots are not

accepted since there is the possibility to inspect all lots

prior to and during the auction.

17. Written bids are executed by Peter Rapp AG in strict conformity

with the principal‘s interests, although without recourse.

The principal may submit alternative bids and establish

an overall limit for the total of his bids.

18. Peter Rapp AG will be pleased to support any purchaser with

the shipment of the auction lots. However, Peter Rapp AG

will not carry out shipment orders to countries with special

agreements or sanctions on the import of auction goods.

The purchaser is committed to observe the foreign custom

and currency regulations etc. Peter Rapp AG strictly

refuses any responsibility occurred by the contravention of

these regulations.

19. The names of consignors and buyers are, as a matter of

principle, not revealed.

20. Peter Rapp AG cannot be held responsible for a defective

or insufficient internet connection or for technical problems

during the live auction (bidding in real time via the

internet).

21. Claims against Peter Rapp AG, arising out of delay, impossibility

of performance, responsibility in the event of

breach of contract, or tortious acts, are excluded, unless

the loss is sustained by premeditated or grossly negligent

conduct.

22. Place of performance and exclusive court venue:

CH-9500 Wil, Switzerland. However, Peter Rapp AG reserves

the right to sue the debtor at his legal residence.

Additionally, it may summarily exclude persons from the

auction.

23. The auction is exclusively subject to Swiss law.

24. Certain items which are made using the skin or fur of particular

species of animals are covered by the Convention

on International Trade in Endangered Species of Wild Fauna

and Flora (CITES). Rapp Auctions is neither authorised nor

qualified to issue the required export permits. The buyer

alone is responsible for providing these permits for his or

her purchased objects. Rapp Auctions cannot provide any

guarantees or bear the costs of any fees incurred for such

permits.

25. With the submission of bids or purchase requests, the above

Terms of Auction Sale are accepted to their full extent.

They also apply analogously to all business transactions

involving auction material conducted outside the auction.

For the purpose of construction of these Terms of Auction

Sale, the original German text applies.

Wil, May 2019