Weekly Auctions of Exceptional Items
DoneMon, Jun 21, 2021 9:00 AM EDT
Vienna, Vienna, AT
2nd Tiberius Auction
The Collection of a Viennese Cosmopolitan
Lot Number: Lowest
Terms & Conditions
§ 1. Eligibility Tiberius Auctions GmbH (hereinafter referred to as the "Auction House" for short) conducts public auctions of movable items, in particular art and antiques, in accordance with the provisions of § 158 of the Trade, Commerce, and Industry Regulation Act and the provisions of the General Terms and Conditions of the Auction House. Statutory provisions shall only apply in a subsidiary manner. Legal provisions such as those of the Consumer Protection Act shall remain unaffected. Conflicting terms and conditions of the Auction House's contracting parties shall not form the basis of the contract. § 2. Acceptance and rejection of objects (1) Movable objects of all kinds, in particular art and antiques, insofar as their sale is permitted by law, shall be accepted for auction. (2) The Auction House will not accept items suspected of having been stolen, embezzled, or illegally exported. (3) When taking over objects from abroad, the Auction House has the right to demand proof of customs clearance and an export permit. (4) The acceptance of objects can also be rejected by the auction house without giving reasons. Objects already accepted may also be withdrawn by the Auction House without giving reasons. § 3. Auction order/takeover certificate (1) The transfer of objects to the Auction House shall be recorded in a transfer bill with an integrated list, which shall be signed by the transferor. The transfer bill serves to confirm the transfer of those objects which have been handed over to the auction house by the transferor. Disadvantages due to incorrect or incomplete information shall be borne by the Consignor. (2) By signing the Takeover Certificate, the Contributor agrees to the General Terms and Conditions of the Auction House. Upon the contribution, the Contributor shall receive a copy of the Takeover Certificate as well as the General Terms and Conditions of the Auction House. Objections are to be raised immediately. (3) The payment of the auction proceeds, the revocation of the auction order, and the return of unsold Objects shall be made exclusively upon presentation of the copy of the takeover certificate. In case of justified doubts, the Auction House may also demand written proof of the right of disposal. (4) In the event of loss or destruction of the copy of the Takeover Certificate, the Auction House may make its services dependent on the judicial declaration of invalidity of the Takeover Certificate. § 5 Rejected contributions (1) Objects which have been handed over or sent to the Auction House for the purpose of auctioning, but whose acceptance for auctioning has been refused and which have not been collected by the Consignor within the time limit set to him, shall be a) returned to the depositor at his expense and risk, b) or stored at the expense and risk of the depositor. The same applies to objects that the auction house has withdrawn from the auction. (2) The Auction House reserves the right, without giving reasons, to withdraw Objects from the Auction until the acceptance of the bid. § 6. Valuation and description of the objects (1) The experts of the Auction House shall examine the Objects accepted for auction with due care and diligence in each case and shall provide an estimate and description thereof. Together with the contributor, the minimum selling price shall be determined. The appraisals, bid prices, and descriptions are prepared with due diligence, but the auction house does not guarantee their correctness to the buyer and the consignor. (2) The objects brought in shall not be auctioned below the agreed minimum sales price (limit). If the minimum sales price is not reached at the auction, the object shall be knocked down subject to reservation. The final award will be made only after the consent of the contributor. (3) The Auction House shall in no way be liable to the Purchaser and the Vendor for any damage caused by incorrectness of its price determination or descriptions. (4) The descriptions of the objects are subjective opinions of the experts of the auction house and mean: a) First and last name of the artist with life data and the designation "signed" or "monogrammed": a unique work of the artist. b) The designation "Attributed": a probable work of the artist. c) The term "circle": a work created in the artist's sphere of influence. d) The designation "marked": a probable work signed but not by the hand of the artist. e) The term "workshop": a work created in the artist's immediate environment. f) The term "school": a work created in temporal and stylistic proximity to the artist. g) The term "succession": a stylistically related work of the artist created in the succession. (5) The description of the Objects, information, and the General Terms and Conditions in English is only a non-binding auxiliary translation. The Auction House cannot assume any liability for the accuracy of the translation. § 7. Condition of the objects (1) All objects to be auctioned may be viewed and examined prior to the auction during the pre-auction viewing hours on the premises of the auction house, unless otherwise specified. The objects to be auctioned are almost exclusively art and antiques that are in a state of preservation that corresponds to their age and previous use. (2) Buyers may request a condition report of individual items from the Auction House. The condition reports merely provide a subjective assessment for which the Auction House assumes no liability. (3) Complaints or deficiencies with regard to the condition of an object shall only be mentioned in the auction catalog and in the condition report if the overall visual impression of the object is clearly impaired in the estimation of the auction house. Each buyer has the opportunity to inspect and examine the objects to be auctioned before the auction. § 8. Withdrawal of objects (1) The Consignor may withdraw Objects which it has consigned to the Auction House for auction up to 7 days before the start of the auction upon payment of a withdrawal fee in the amount of 25% of the minimum sale price. For items withdrawn until immediately before the start of the auction, a withdrawal fee in the amount of 40% will be charged. (2) The Auction House may immediately terminate the contractual relationship with the Depositor in writing or by means of electronic notification if one of the listed points occurs: a) The depositor does not give instructions to the auction house for the further handling of the business despite repeated requests, or b) the realization of the exploitation is impossible or unreasonable for the Auction House for legal, moral, ethical, social, or business policy reasons, or c) reasons for rejection within the meaning of § 2 para. 2 subsequently emerge, or (d) if there are reasonable doubts as to the requisite power of disposal of the contributor, or e) the contributor has provided false information about the object to be auctioned, his person, or any other business-relevant circumstances when contributing to the auction. § 9. Aftersale (1) Objects remaining unsold in the auction will be offered for sale in the post-auction sale at their minimum sale price (limit) after the conclusion of the auction and may be sold directly by the Auction House until they are collected by the Consignor or the post-auction sale, which lasts 4 weeks, is deemed to have ended. (2) The provisions of the General Terms and Conditions that apply to the Objects submitted for auction shall also apply in the same manner to the Objects sold in the Post Auction Sale. § 10. Unsold and withdrawn objects (1) The Consignor of unsold Objects shall be requested to collect the Consigned Objects after the conclusion of the Post-Sale. If the Consignor fails to comply with the request within the period set, the Auction House reserves the right to collect the unsold Objects from the Consignor. (a) returned to the transferor at the transferor's risk and expense, or b) to store the unsold objects at the expense and risk of the contributor. (2) If the depositor of withdrawn objects does not comply with the request for collection within the time limit set for him, the procedure shall be the same as in § 10 par. 1. § 11. Lien The Contributor as well as the Purchaser grant the Auction House a lien and a right of retention on the Objects contributed by him or acquired by him as security for all claims which have already arisen or will arise in the future from the legal transaction. § 12. Photos/illustrations and display (1) The Contributor grants the Auction House the irrevocable, gratuitous, and unrestricted right to photograph and illustrate the objects contributed. The Auction House reserves the right to permanently distribute and reproduce the photographs and illustrations, even if this has no connection with the auction. (2) Prior to the start of an auction, all items to be auctioned shall be put on display for at least two weeks in order to give prospective buyers the opportunity to inspect the items with regard to condition and state. (3) The Auction House reserves the right to show the preview of an auction also in a branch office, a representative office of the Auction House or in a company affiliated with the Auction House. (4) In the case of auctions held on the Internet, the objects are displayed by means of a description and a picture of the auctioned object. § 13. Conduct of the auction/bids (1) The auction shall be held under the direction of the Auctioneer of the Auction House at the registered office of the Auction House unless otherwise announced beforehand. (2) The bidding of an object begins with the naming of the lot number and the call price. (3) The auction is increased by approx. 10% of the last bid. All prices in the catalog and the auction refer to EURO. The contract is concluded by the acceptance of the highest bid (highest bid). If the minimum selling price (limit) is not reached, the bid will be accepted under reserve. (4) The Auctioneer of the Auction House is entitled to separate and combine lots as well as to withdraw lots or to change the order of lots from the catalog. (5) The Auction House reserves the right to reject bids without giving reasons. Especially if it is feared that the bidder will not pay the highest bid. (6) By placing a bid, the bidder confirms that he has ascertained the condition and description of the object before the auction. (7) In case of disagreement, multiple bids, overlooked bids, and overlooked written bids, the Auctioneer of the Auction House shall decide on the acceptance of the bids. In such cases, the Auction House reserves the right to cancel awarded bids within 3 working days and to re-auction the item in the same or another auction. § 14. The purchase price, payment, transfer of ownership (1) Domestic buyers are obliged to pay the full purchase price of the auctioned items within 8 days after the knockdown. Buyers from abroad are obliged to pay within 14 days after the knockdown. If the buyer does not meet this deadline, the auction house may charge interest on arrears. (2) If the Purchaser's obligation to pay is not fulfilled, the Auction House reserves the right to cancel the acceptance of the bid. The Auction House shall decide whether the Object shall be auctioned again or whether it shall be knocked down to a bidder who has submitted a lower bid. The buyer who has fulfilled his obligation to pay may be charged a penalty of 10% of the purchase price regardless of fault. (3) A uniform premium shall be added to the hammer price (highest bid) as follows: a) In the case of differential taxation, a surcharge of 25% is added to the hammer price. The sales tax is already included in the differential taxation. b) In the case of normal taxation (noted in the catalog), a 21% surcharge is added to the hammer price. The sum of the hammer price and the buyer's premium is subject to the statutory sales tax of 13% for paintings and sculptures and 20% for all other objects. (4) On objects of living artists and those whose death does not date back more than 70 years, the resale right remuneration prescribed by law will be added to the purchase price. The resale right remuneration shall only apply if the purchase price exceeds ? 2,500. The resale right is remunerated as follows: a) 4% of the first ? 50,000 of the purchase price (less any sales tax included) b) 3% of the further ? 150,000 c) 1% of the further ? 150,000 d) 0.5% of the further ? 150,000 e) 0.25 from all other amounts The maximum remuneration of the resale right is ? 12,500. (5) Auctioned items will be handed over by the auction house only after they have been paid for in full by the buyer. (6) Ownership of the Objects shall not pass to the Purchaser until the purchase price has been paid in full. § 15 Takeover of auctioned objects (1) Unless otherwise agreed, domestic buyers are obliged to collect the auctioned items within 8 days. Otherwise, the Auction House may charge fees for storage. The collection period for foreign buyers is 28 days. (2) Within the collection period of the auctioned items, they shall remain in insured storage in the auction house. After exceeding the collection period, the auctioned items shall be stored at the buyer's own risk. (3) The buyer is responsible for the shipping of auctioned items. (4) If purchased objects are not collected by the buyer after a period of 90 days from the day of the knockdown, the auction house is entitled to bring the auctioned object back to the auction at the expense and risk of the buyer. The defaulting buyer will be treated as a consignor with regard to all fees. § 16. Guarantee of authenticity (1) The valuation and description of the objects in the catalog are made by experts of the auction house to the best of their knowledge and belief. The auction house vouches for the authenticity that objects from the catalog are really from the named artist or author. (2) All information in the description of the objects to be auctioned, except for that of the artist or author, is based on generally accessible scientific knowledge, which has been carefully researched by the experts of the auction house. The Auction House does not guarantee the correctness of the description, especially about the indication of the origin, age, epoch, production, materials, etc. (3) All objects sold at auction can be inspected and examined by the prospective buyers in the original during the time of the preview. Claims for damages are therefore excluded. In particular, the 14-day right of return for remote purchase. (4) Details of defects or damage to the objects to be auctioned will only be described in the catalog if these have a significant influence on the commercial or artistic value. The auction house assumes no liability for the condition of the objects. § 17 Insurance and compensation (1) All Objects which have been handed over to the Auction House with the Auction House's consent are insured against loss and damage until the due date of the purchase price or until the end of the collection period pursuant to § 15 para. 1. The insured value of the Objects shall be equal to the call price, unless a minimum sale price (limit) has been agreed, in which case the insured value shall be equal to the minimum sale price. (2) Liability vis-à-vis the transferor shall commence with the taking over of the object until its sale. The liability towards the Purchaser shall commence with the acceptance of the highest bid and shall end with the end of the collection period pursuant to § 15 para. 1. In the case of unsold Objects, the liability towards the Vendor shall end with the end of the period set for him to collect the Objects after the end of the post-auction sale. (3) In the event of loss or total loss of an object, the insurance value shall be reimbursed to the contributor. In case of objects already sold, the respective purchase price will be reimbursed to the buyer. In the event of damage to an object, the Auction House will reimburse the costs of restoration and the reduction in value as determined by the insurance company. (4) The Auction House shall only be liable for damage to the Objects caused by force majeure, pests, climatic fluctuations or similar events in the event of gross negligence or intent. § 18. Payment of the purchase proceeds (1) After full payment of an auctioned item, but no earlier than thirty days after the conclusion of the auction, the contributor shall receive the proceeds of the sale less all commissions, taxes, and other fees and costs. If a transfer bill has been issued, payment shall be made only against the return of the transfer bill. (2) If a complaint is made about an object sold, the Auction House shall be entitled to suspend payment to the Consignor until the complaint has been finally settled. However, if the buyer's complaint to the Auction House is justified, the Auction House may finally refuse to pay the transferor in whole or in part. If the proceeds of the sale have already been paid out, they may be reclaimed by the Auction House in whole or in part and must be refunded by the Consignor immediately upon demand. (3) No later than 7 working days after the end of the auction, the Auction House shall provide the Vendor with a statement of account showing the highest bid and any sales commission. (4) Payment of the proceeds of the sale shall be made either in cash or by bank transfer. § 19 Purchase orders (1) The Auction House accepts purchase orders in writing, by telephone, orally, or via the Internet. By placing a bid, the bidder accepts the General Terms and Conditions of the Auction House. (2) Written bids shall be treated as if they were bids submitted in the auction room. The Auction House shall bid for the principal of the written bid up to its set purchase limit. (3) The Auction House reserves the right to reject written bids without giving reasons or to disregard purchase orders already received. The Auction House assumes no liability for an error-free processing of the purchase orders. (4) Written bids must include the following items or they will not be accepted: a) The lot number of the object to be auctioned off b) A short description of the object or the artist's name c) The highest bid (without commissions, taxes, or resale rights) up to which the auction house shall bid d) the name, address, telephone number and signature of the tenderer (5) Written bids with equal highest bids shall generally be ranked according to the order in which they are received. (6) Bidding by telephone is possible if the bidder sends a written bid to the auction house in advance. If for whatever reason, no telephone connection can be established, the auction house will automatically bid the object's call price for the bidder. In principle, telephone bidders are contacted on the morning of the auction day to test the availability. § 20 Place of performance and jurisdiction (1) The place of performance for the legal relationships between the Auction House and the Contributors and the Bidders shall be the place of business of the Auction House. (2) All legal disputes arising shall be governed exclusively by Austrian substantive law. The UN Convention on Contracts for the International Sale of Goods (CISG) shall not apply. The remote acceptance law without giving reasons is excluded. The objects will be exhibited close to the auction and can be inspected in person. (3) The exclusive place of jurisdiction for all disputes arising directly or indirectly from an auction transaction shall be the Austrian court having local and subject-matter jurisdiction for Vienna. For consumers within the meaning of the Consumer Protection Act, this agreement shall only apply if they have neither a domicile nor a habitual residence in Austria and are also not employed in Austria and this is not contradicted by other regulations.
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