48th Toy Auction

Auction Terms The following terms shall be in force for bids, absentee bids and aftersale: 1. The auction shall be held on a voluntary basis on behalf of and for the account of a third party. 2. The auction shall be carried out according to the numbering in the catalogue. The catalogue text shall be binding, however, if he deems it to be suitable, the auctioneer shall be entitled to separate, combine, bring forward, put aside or withdraw any item from the auction. 3. The lot to be auctioned may be inspected before the auction at the viewing times listed in the catalogue. During viewing and auctioning each visitor shall be held responsible for any damage he may cause. 4. The auctioneer has the right to exclude any person from the auction for any reason. 5. The descriptions in the catalogue are made with great care and to the best of the auctioneers‘ knowledge and belief. They shall be not binding expressions of opinion and shall not be regarded as assured properties according to §§ 459ff of the BGB (German Civil Code). The lot to be auctioned shall be auctioned as inspected. 6. The auctioneer shall first call up each item by its limit price (also called minimum price) stated in the catalogue. These limit prices shall not be remained under. Bidding will increase in regular increments of approximately 10 % unless determined otherwise by the auctioneer. 7. The highest bid having been called three times and no overbid being placed the hammer falls. Should more than one person make an equal highest bid, the winner is determined by drawing lots. In case of any dispute or if a higher bid has been missed, a new call shall be made. Once the auctioneer’s hammer falls, a sales agreement is entered into between the selling party which is represented by the auctioneer and the successful bidder. 8. The winner of the bid, shall be obliged to pick up the item immediately and pay the purchase price to the auctioneer. 9. The purchase price comprises the hammer price and the buyer’s premium of 20 % plus the applicable value added tax of 19 % only on the buyer’s premium (total of 23,8 %). For personally attending bidders the total amount shall become due immediately and shall be paid in cash; for absentee bidders with a written purchase order this is within10 days after the date of invoice. The ownership shall only be transferred after full payment. 10. Should any buyer fail to pay the purchase price in time he shall lose his rights as successful bidder. Such items may then be auctioned at his cost at one of the next auctions without any previous notice to him. In such a case the delinquent customer shall be liable for the reduction in turnover and the costs for the repeated auction including fees. He shall not be entitled to any surplus profit. The auctioneer shall be entitled to collect or sue out purchase money, purchase money arreas and/or secondary obligations on behalf of the consignor. 11. In case of buying by written purchase order, reclamations shall only be accepted if a description is substantially and obviously incorrect. Any notice of reclamation shall be given immediately. Should such a reclaim be accepted, the buyer shall be entitled to claim for the total buying price. Any other claims shall be excluded. If a lot comprises three or more items, a reclamation for minor defects of individual items shall not be accepted. Lots being described with certain defects shall not be reclaimed for other defects. 12. Written purchase orders (also called absentee bids) shall only be accepted if received by the auctioneer at least one day before the auctioning date. They shall be handled carefully but without any guarantee. The prices stated therein do not yet contain the buyer’s premium nor the VAT. The auctioneer shall handle absentee bids safeguarding the bidder’s interest, this is, the highest absentee bids are only utilized to overbid the second highest by only one increment. Moreover, the auctioneer shall be obliged to maintain secrecy on written absentee bids until the hammer falls. 13. For absentee bidders packing and shipping costs will be invoiced as lump sum fee. For shipping within Germany the costs amount to 10 €, within Europe to 25 € , oversee 45 €. Shipping shall be done by mail package and at the buyer`s risk. 14. Lots not auctioned can only be bought in the after sale up to approximately 14 days after the auction day. 15. The auctioneer shall be entitled to reject bids if the corresponding securities are not submitted. 16. Place of jurisdiction and performance for all parties involved shall be Cologne/Germany. 17. The bidder declares his explicit acknowledgement of the auction terms by placing a bid or a written absentee bid. Should any of the above mentioned provisions be or become invalid completely or in part, all other obligations shall remain unaffected thereby.

19 % German Mehrwertsteuer for all bidders