1. The auction is made voluntarily and in public on behalf of a third party and on their account, on the strength of written contracts.
2. The auction takes place in EURO. Payment is due immediately upon receipt of the invoice. Bids will be executed in the following increments of:
1 to 99 €: 5 €
100 to 199 €: 10 €
200 to 499 €: 20 €
500 to 999 €: 50 €
1.000 to 1.999 €: 100 €
2.000 to 4.999 €: 200 €
5.000 to 9.999 €: 500 €
10.000 to 19.999 €: 1.000 €
20.000 to 49.999 €: 2.000 €
ab 50.000 €: 5.000 €
Bids which do not conform to these increments will be rounded down to the next bidding step. The highest bidder will get the award. In the event of two equal bids, lots will be drawn.
3. The auctioneer is entitled at his sole discretion to demand a deposit the amount of which is determined by the auctioneer from unknown bidders or from bidders who's bids remarkably exceed previous activities in the business relationship. The auctioneer furthermore has the right to not consider bids if a deposit demanded by him has not arrived prior to the auction resp. in case of floor bidding is not immediately effected in EURO cash.
4. Bidding begins at the price stated in the auction catalogue. The making of a bid signifies a binding purchase offer. The bidder is bound to his bid until it is either overbid or rejected by the auctioneer.
5. The object is awarded to the highest bidder after no higher bids are made following three calls. The awarding of the object binds the purchaser to both collection and payment. In the event of differing opinions as to the award, the object is to be auctioned anew.
6. The bidder is personally liable for his/her bid, even if he/she is bidding on behalf of a third party and has declared their name. The auctioneer reserves the right to change the planned sequence, to separate, combine, or withdraw lot numbers, to award objects under reservation or to refuse bids which are considered too low.
7. A commission fee of 21% as well as the live bidding fee of 5% is payable by the purchaser against the lot awarded. VAT (at present 19%) is payable on the commission fee, live bidding fee and any delivery costs incurred.
8. Ownership of the property is transferred to the purchaser following payment in full of the purchase price. However, transfer of all liability for damage to the lot is made with the awarding of the lot. Payment of the purchase price is to be made in cash, or by Euro cheque or by payment transfer into the bank account of Deutsche Wertpapierauktionen GmbH within a ten day period (21 days outside of Europe), or by credit card (4% additional charge upon the total amount, VISA or MasterCard only).
9. The bidder is liable for all resulting damage in the event of delayed payment or refusal to collect, in particular for losses incurred through exchange rates and interest. In the event of delayed payment the auctioneer can demand compliance with the contract or compensation for reason of non-compliance. In addition, the auctioneer reserves the right to annul the awarding of an object and to auction the object once more at the expense of the bidder. Should the auctioneer decide on this course of action, the bidder is then liable or any loss incurred, but has no claim on any additional revenue.
10. Objects to be auctioned can be viewed and examined before the auction. The descriptions in the catalogue are made with great care. However, no warranty can be given as to the characteristics detailed in the catalogue in accordance with § 459 BGB (Civil Code). Research into the objects is carried out with great care, however no guarantee can be given as to the accuracy or otherwise of the details given. The objects entered for auctioning are used objects and, in so far as nothing to the contrary is noted, are in good condition taking their age into consideration.
11. Legitimate defects are to be enforced three days following receipt of the auctioned objects, at the latest, but can only be acknowledged up to two weeks following the ending of the auction. Notices of defect cannot be made in the case of convolution.
12. Delivery of auctioned objects is made at the risk and expense of the purchaser. Delivery insurance is only arranged following previous written notice. In the posting or handing over to a courier service, the sender has done all in his/her power to ensure delivery of the object.
13. For shipping and handling we will charge 8,50 EUR in Germany, for shipment outside of Germany 15,00 EUR (plus VAT).
14. Orders placed by fax, e-mail or telephone must be confirmed in writing.
15. Images of all items offered are stored in our imaging database archive. Images given in this catalogue may come from the archive and may therefore bear a serial number different from the piece actually offered. The correct serial number is however accurately given in the description of the lot and the buyer therefore is entitled to the item bearing the serial number as per the lot description, which must not necessarily match the serial number in the image.
16. With the placing of an order or the making of a bid, the bidder formally accepts these conditions.
17. The place of performance and legal venue for both parties is Wolfenbüttel.
18. In the event of one or more of the terms of this auction contract becoming or being ineffective the effectiveness of other contract terms remain unaffected.
Shipping Terms
Auction House will ship, at Buyer's expense
Payment
8. Ownership of the property is transferred to the purchaser following payment in full of the purchase price. However, transfer of all liability for damage to the lot is made with the awarding of the lot. Payment of the purchase price is to be made in cash or by payment transfer into the bank account of Deutsche Wertpapierauktionen GmbH within a ten day period (21 days outside of Europe), or by credit card (4% additional charge upon the total amount, VISA or MasterCard only).
