RUSSIAN AND MODERN ART AND VARIA

Terms of public auction: By joining the auction, the Bidder agrees to the following terms and conditions: 1. Basics: Galerie Moenius AG auctions items/objects on behalf, in the name and for the account of a third party (the supplier remains unknown). Prices in the catalogue are estimated prices only. The call price is the lower estimated asking price. Currency is EURO (EUR) only. The highest bidder (accepted by the auctioneer) receives the acceptance of the bid. Once a bid is accepted, the guarantee obligation of Galerie Moenius AG shall be dissolved. The Bidder shall only receive the auctioned object(s) after complete payment of the full amount in cash, via confirmed bank transfer or credit card. Bidder cards can be charged 4 days after an invoice has been sent. 2. Payment: Beside the price for the acceptance of the bid, the buyer has to pay the premium of 21% + 19% VAT. In case of a "Live Auction" (online bidding in real time) the auctioneer is entitled to a surcharge of 5% + 19% VAT of the price for the acceptance of the bid (all bids via invaluable platform) . Buyers who file their papers in due and proper form will be able to get a full refund of the VAT of the acceptance of the bid price (an officially stamped export declaration is necessary). For items with two stars (**), the buyer has to pay 2% on hammer price, because of the German Resale Royalty Rights. If the bidder wants to pay via credit-card 3% of the total-amount will be charged. The bidder agrees that the auctioneer receives a premium from the seller/supplier. In case of late-/non payment by the bidder, Galerie Moenius AG has the full debt collection rights and is allowed to transfer these rights to a 3rd party agency. Invoices issued during or immediately after the auction must be verified; errors remain reserved to this extent. 3. Warranty: The objects to be auctioned are used. Their condition is not documented. The objects can be seen and examined on site before the auction starts. They are auctioned in the state they are at the acceptance of the bid. Descriptions and images in the catalogue were prepared in Galerie Moenius AG's best knowledge and belief, but meant for information only. Potential buyers are required to request a condition report for every work of art. This report expresses Galerie Moenius subjective assessment only. Galerie Moenius AG assumes no liability for details in the catalogue or for the condition report. Damages claims against Galerie Moenius AG for legal and material defects and on other legal grounds (including compensation for futile expenses or cost for expert opinions) are excluded unless they are due to intentional or grossly negligent conduct by Galerie Moenius AG. 4. Auction Participants: In order to receive an auction ID number, every bidder needs to submit her/his personal data. Bidders who are not known personally need to obtain an official ID card. Galerie Moenius AG may request bank references and securities such as a credit card. All bids are considered "in the name and account" of the registered bidder only. If a bidder wants to act on behalf of a 3rd party, he must submit an authorized, written authorisation of such 3rd party not later than 24hrs before the beginning of the auction. The representative, together with the representee is both individually and legally responsible for their bidding. Galerie Moenius AG may at its own discretion deny a person attendance of the auction and/or access to their offices. 5. Auction: Galerie Moenius AG reserves the right to alter catalogue numbers or change/combine/withdraw them in the auction. The acceptance of the bid might be accepted or denied under reserve. The auctioneer can cancel the acceptance of a bid if an offer has been overlooked or if there is a dispute about the acceptance of the bid. The object/item can be auctioned again. Submitting a bid is a firm offer to buy. Unless a bid is over-/underbid it is bounded. If a bid is accepted under reserve it stays firm for 14 days. Double-bids will be objected and will be re-auctioned immediately. If several bidders make the same offer, the item/object is assigned by lot, written offers have priority. If double-bids occur via phone, the bidder present at the auction will get the acceptance. In case of doubt the auction management has the right to decide. There is no right for the acceptance of a bid. Galerie Moenius AG excludes any liability for non considered bids of any kind or non received telephone bids. 6. Pick Up and Shipment Successfully auctioned items/objects need to be picked-up by the bidder within 14 days. During or immediately after the auction, successfully auctioned items/objects can only be pick-up after full payment is received, either in cash, via confirmed bank transfer or with a cashier's check. Invoices might be revised. Errors are excepted. Galerie Moenius AG assumes liability for damage, destruction or theft of fully paid items/objects for 14 days, limited to the amount of the accepted bid, premium and German Vat. After this period Galerie Moenius AG assumes no liability, the buyer needs to get an appropriate insurance then. In general Galerie Moenius AG is not liable for damages on frame or glass. Shipment can be arranged, please inquire in writing. Galerie Moenius AG will do its best to arrange shipment or refer to a 3rd party. Galerie Moenius AG does not assume liability for transportation damages. 7. Data Privacy Declaration The buyer agrees that his name, address and any consignments being stored electronically and processed by Galerie Moenius AG for the purpose of fulfilling and performing the contractual relationship, as well as to provide information about future auctions and offers. Should the buyer not pay his invoice, then he consents to this fact being added to a list which will be accessible to all auction houses. The buyer is entitled to object to the future collection and use of data by removing the said clause or by submitting notice to Galerie Moenius AG at a later date. 8. Miscellaneous Galerie Moenius AG may publish and use auction results and images. Images of items/objects may be used for advertising purposes by Galerie Moenius AG. Only Germanlaw is applicable. Should any individual provisions of these terms be or become invalid in part or in their entirety, this shall not impair the validity of all the other provisions. Changes of the auction's terms and condition need to be submitted in written form, oral agreements are not valid. In cases of doubt the German version of the Consignment Conditions shall prevail. Place of execution and sole jurisdiction is Regensburg.