The auction shall be carried out in accordance with the provisions of the rules of procedure
of GALERIE ZACKE, MARIAHILFERSTRASSE 112/1/10, 1060 VIENNA (hereinafter referred to as the company) as
well as in accordance with sections 244-246 of the
[Industrial Code] from 1994.
The auction shall be carried out on commission. The auctioneer shall be entitled to withdraw lots
exceptionally, to carry out the auction deviating from the order of the catalogue numbers and to
offer lots jointly. In the event of any dispute concerning a double bid or if the auctioneer has
missed a bid, the auctioneer shall be entitled to revoke an acceptance of a bid and to continue
auctioning off the item. The figures attached to the text shall be the expected last and highest bid
in EURO (
) from the respective expert. As a rule, the bid sh
all be increased by 10% of the last bid.
The acceptance of a bid shall be granted to the highest bidder unless a seller?s reserve price
has been agreed with the consignor. Such a seller?s reservation (also referred to as limit) shall be
the minimum price limit below which particular lots shall not be sold during the auction. This limit
shall be disclosed upon request and may not exceed the lower estimated price. If a limit (seller?s
reserve price) is not achieved, the bid of the highest bidder shall be accepted subject to
reservations only. In this case, the highest bidder shall be bound to its highest bid for a period of 8
(eight) working days. If the highest bid from the highest bidder is not finally accepted within this
period of time, its binding commitment to this bid shall expire. In order for the final acceptance of
the bid to become effective, it is sufficient to send a corresponding notification to the address
named by the highest bidder within the said period of 8 working days.
All items shall be subject to differential taxation. A uniform surcharge of 22% plus the value
added tax applicable to the surcharge to the amount of 20% shall be added to the achieved
highest bid (final and highest bid). Thus the surcharge shall be 26.4% of the final and highest bid
Bidders who bid online with one of our partner websites (Lot-tissimo, Invaluable, Liveauctioneers, etc.), are subject to paying an additional 3 % on the hammer price if the bid is successful. Therefore for successful online bidders the total surcharge is 29,4 % of the winning bid.
In the event of sales abroad, the value added tax will be repaid if the item is sold to a
country which is not a member country of the European Union (third country), the legal
requirements are met and the proof of exportation is provided. The value added tax shall not be
shown separately on the invoice.
The auction buyer must pay the purchase price immediately upon acceptance of the bid (final
and highest bid plus 22% surcharge, plus the value added tax applicable to the surcharge to the
amount of 20%). However, the company may grant the auction buyer a respite for the payment of
the purchase price in whole or in part in individual cases. If a respite is refused, the acceptance of
the bid may be revoked and the item may be reoffered . In the event of revocation of the
acceptance of the bid, the company shall be entitled to accept the last bid from the underbidder.
In the event of respite in whole or in part, the company shall be entitled to charge default
interest (12% p.a.) as well as storage charges (2.4% of the final and highest bid per month
commenced) after 14 days upon acceptance of the bid. The item bought at auction shall be
handed over exclusively upon full payment of the purchase price including all costs and charges
accrued since the acceptance of the bid.
The buyer must take into its possession the items bought immediately or after the end of the
auction as far as possible. Items which have been fully paid for shall be handed over in our show
rooms at the GALERIE ZACKE, KOHLMARKT 7, 1010 VIENNA. If a deferred purchase price is not
paid within the period set, the company shall be entitled to auction the item off again in order to
recoup its claim from the defaulting auction buyer. In this case, the defaulting auction buyer shall
be liable to the company for the total loss of commission incurred by the company due to the
re-auction as well as for any default interest and storage charges.
The company shall be entitled to a lien on all items of the buyer irrespective of whether the
buyer bought them within the scope of an auction or in free sale or the company secured
ownership of these items otherwise. This lien shall serve to secure all current and future, qualified,
limited and unmatured claims to which the company is entitled and which result from all legal
transactions concluded with the buyer.
The items received for auction will be exhibited and may be viewed prior to the auction. In
doing so, the company shall give everyone the opportunity to check the nature and the condition
of the exhibited items to the extent deemed possible within the scope of the exhibition. Every
bidder shall be deemed to act on its own behalf unless it provides a written confirmation saying
that it acts as a representative of a well-known principal. The company may refuse bids; this shall
particularly apply if a bidder who is unknown to the company or with whom the company has no
business connections yet does not provide security by the beginning of the auction at the latest.
However, in principle there shall be no claim to accept a bid. If a bid has been refused, the
previous bid shall remain effective.
The company?s experts evaluate and describe the items received for auction and determine
the starting prices unless otherwise stated in the catalogue or expert opinion. The information
concerning production technique or material, state of preservation, origin, design and age of an
item is based on published or otherwise generally accessible (scientific) findings concluded by the
company?s experts with the necessary care and accuracy. The company shall warrant to the buyer
that the assured properties are correct provided that any possible complaints referring to this are
made within four weeks upon their taking into possession. Subsequent complaints shall be
excluded in principle. The company shall not be liable for any further information in the catalogue
and expert opinion as well. This shall also apply to illustrations in the catalogue. The purpose of
these illustrations is to guide the potential buyer during the preview. They shall not be
authoritative for the state or the properties of the pictured item. The catalogue and the expert
opinions shall only mention defects and damage affecting the artistic or commercial value
significantly. Complaints concerning the price shall be excluded upon acceptance of the bid.
The company shall reserve the right to amend catalogue information prior to the auction. These
amendments shall be made either by a written notice at the place of auction or orally by the
auctioneer immediately prior to the offering of the respective item. In this case, the company shall
be liable for the amendment only. All items offered may be checked prior to the auction. These
items are used. Any claims for damages exceeding the liability named above and resulting from
other material defects or other defects of the item shall be excluded. When making the bid, the
bidder confirms that it has seen the item prior to the auction and has made sure that the item
corresponds to the description.
If a customer is not able to participate in an auction personally, the company shall accept
purchase orders. These orders may be placed in writing, via email or fax. In the case of a purchase
order placed by phone or orally, the company shall reserve the right to make the performance
dependent on a confirmation from the principal communicated in writing, via email or fax.
Furthermore, the company shall not be liable for the performance of purchase orders. Purchase
orders with equal top bid limits will be considered in the order of their receipt. The bids which are
only one increment above the starting price shall be exhausted totally. Bids which do not
correspond to the increments determined by the company in tabular form may be rounded up to
the next higher increment. The table of these increments may be communicated upon request.
In the case of lots auctioned off ?without any limit?, bids below the estimated price shall be
exhausted totally. The written bid (purchase order) must include the item stating the catalogue
number and the offered top bid limit which is quoted as the amount of the acceptance of the bid
without buyer?s commission and without value added tax. Ambiguities shall be borne by the
bidder. A purchase order which has already been placed may only be cancelled if the written
withdrawal is received by the company at least 72 hours prior to the beginning of the auction.
The company may refuse the performance of a purchase order without giving any reasons
until offering or make this dependent on payment of a deposit. In the event of an unsuccessful
order, such a deposit will be reimbursed by the company within 5 working days. The performance
of purchase orders shall be free of charge.
Every contributor shall in principle be entitled to withdraw the items offered for auction
until the start of the auction. Therefore, it is impossible to assume liability or to give warranty for
the actual offering.
Items paid must be collected within 30 days of payment. Items which have not been
collected may be delivered without further communication at a starting price from the recent
auction reduced by 50% after 30 days from the respective auction date. Items which have not
been collected within 3 (three) working days after the auction or for which the company does not
receive any proper shipping instructions stating the type of shipping and the address of dispatch
(independent of a possibly placed purchase order) within 3 (three) working days after the auction
shall be stored at the owner?s risk.
Furthermore, the company shall be entitled to store items which have been bought at auction and
paid but not collected at the buyer?s risk and expense, including the costs for an insurance, with a
forwarding agency. It shall be understood that the provisions concerning the re-auctioning of
unpaid and paid but not collected items must also apply to items not exhibited or stored in the
premises of the company. The ownership shall pass onto the buyer at the time of the handing over
the delivery note.
In the case of mixed lots with a starting price of less than
350.00, the company shall not
warrant for the completeness or correctness of the individual items within a mixed lot.
A registration for a bid by telephone for one or several items shall automatically represent
a bid at the starting price for these items. If the company cannot reach the bidder by phone, it
will bid on behalf of the bidder by phone up to the lower estimated price when the respective
auction lot is called.
Payments made to the company by mistake (through the payer?s fault) (e.g. due to
miscalculation of the exchange rate by the payer) or payments made to the company for the same
invoice several times shall be compensated in form of a credit note for goods for an indefinite
period of time. The repayment of such payments in cash shall be excluded.
In the case of individual auction lots, it may happen that they are delivered several times.
In such a case, the auctioneer may accept a second or third etc. bid from the underbidder(s).
In this case, the text in the catalogue and not the illustration in the catalogue shall also be
exclusively binding with regard to the warranty (relating to these auction lots).
When making a bid, whether personally, in writing or by telephone, the bidder shall
acknowledge these terms of auction as well as the rules of procedure and the schedule of fees
(as amended) of the company.
The place of performance of the contract brought about between the company on the one
hand and the seller as well as the buyer on the other hand shall be the place of business of the
company. The legal relationships and contracts existing between the company, the sellers and the
buyers shall be subject to the Austrian substantive law. The company, the sellers and the buyers
shall agree to settle all disputes resulting from, concerning and in connection with this contract
before the territorially competent court for the first district of Vienna.
The export of art objects from Austria shall require a permit from the
[Federal Monuments Office]. In any event, the company shall orally provide information about art
objects for which an export permit will probably not be granted at the beginning of the auction.
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