3rd AUCTION

Terms & Conditions Auktionshaus Schreiber GmbH & Co. KG (Schreiber Auction House) The auctions of Auktionshaus Schreiber GmbH & Co. KG (hereinafter referred to as "Auctioneer") shall be conducted on the following terms and conditions, which are accepted by participating in the auctions in person, in writing, by telephone or online via the Internet. These terms and conditions shall also apply mutatis mutandis to the private sale, unless the terms and conditions for the private sale have been agreed or included with priority. (1) Basis of the auction and material defects a) The Auctioneer sells at a commercial auction within the meaning of Section 34 b (1) of the Trade, Commerce and Industry Regulation Act (Gewerbeordnung) as commission agent in his own name and for the account of the Consignors (principals), who shall remain unnamed. b) All items to be auctioned may be inspected and examined prior to the auction. The items are second-hand. The catalogue descriptions are made to the best of our knowledge and belief, they are for information purposes only and do not form part of the contractually agreed condition of the items and in particular do not constitute guarantees in the legal sense. The same applies to verbal or written information of any kind as well as the designation of the items when called up. If an internet catalogue is also produced, the information in the printed version shall nevertheless be authoritative. Impairments of the state of preservation are not indicated in every case, so that missing information also does not constitute an agreement on condition. The auctioneer reserves the right to correct catalogue information. This correction shall be made by written notice at the place of the auction and orally by the Auctioneer immediately before the auction of the individual item. The corrected information shall replace the catalogue descriptions. All items shall be auctioned in the condition in which they are found at the auction. The auctioneer assumes no liability for incorrect translations of the catalogue texts from German into other languages. c) The Auctioneer undertakes to assert his claims against the Vendor in the event of material defects which have been asserted within 12 months of the knockdown, provided that the Purchaser has paid the Auctioneer's invoice in full. In order to assert a material defect, the submission of an expert's report by a recognised expert proving the defect shall be required at the expense of the buyer. In the event of a successful claim against the Vendor, the Auctioneer shall refund to the Purchaser exclusively the hammer price concurrently with the return of the item. The buyer remains obliged to pay the buyer's premium as a service charge. Apart from that, any liability of the auctioneer due to material defects shall be excluded. 2. Bids a) Each bidder must state his name and address before the auction begins. This also applies if he participates in the auction as a representative. In this case, he must additionally state the name and address of the person represented. In case of doubt, the bidder purchases in his own name and for his own account. b) Each bidder must deposit a cash deposit before the auction begins. c) To ensure the execution of written bids, they must be received by the Auctioneer on the form provided for this purpose - at least 48 hours before the start of the first auction day. The bidder is obliged to provide proof of receipt. For the effective submission of a written bid, the bidder's person or company as well as the lot number must be stated precisely. When submitting the bid, a telephone number must be given at which the bidder can be regularly reached. The bid shall be limited exclusively to the lot number indicated. Written bids will only be accepted by the auctioneer for the amount necessary to outbid another bid submitted. Telephone bids will be accepted by calling the bidder before calling the desired lot. A prerequisite for telephone participation is a written advertisement received by the auctioneer at least 48 hours before the start of the first auction day. Telephone bidders undertake to bid at least the starting price. Even if a telephone connection is not established. Withdrawal of the bid after the start of the auction is not permitted. For certain auctions, online bidding is possible. The auctioneer assumes no liability for the establishment or maintenance of telecommunication connections or the proper transmission and (timely) receipt of online bids to the auctioneer. The auction room proceedings (e.g. with regard to corrections pursuant to item 1 b) shall be decisive for the auction and its course. Only the bids submitted in the auction room are binding. d) The auctioneer may reject bids if there are objective reasons. This shall apply in particular if bidders, at the Auctioneer's request, are unable to furnish sufficient security corresponding to the value of the bid prior to the auction. In the event of a bid being rejected, the bid submitted immediately beforehand shall remain binding. e) The auctioneer reserves the right to combine or separate lot numbers, to offer them out of sequence, to withdraw them if there is an objective reason for doing so, or to auction them subject to reservation (UV surcharge). The lot number is the number under which the items are called in the auction or are listed in the auction catalogue or are offered in open sale. f) The lot will be awarded to the highest bidder after three calls. If several persons submit the same bid and no higher bid is made after three calls, the lot shall be decided by lot. In the case of identical written bids, the first bid received shall be the winner. If there is any doubt as to whether or to whom the lot has been knocked down, or if a bid made in time has been overlooked, or if the highest bidder does not wish to have his bid accepted, the auctioneer may withdraw the knockdown, which shall thereby become invalid, and put the lot up for bid again. Objections to a knockdown must be raised immediately, i.e. before the next lot is called. If there is an important reason, the auctioneer may refuse to accept the bid. g) As a rule, the price stated is the limit. The hammer may also fall below the limit, subject to clarification with the consignor. In order to protect the consigned item, the auctioneer is entitled to knock down to the consignor below the agreed limit. In this case, a reduction shall be incurred. The Auction House reserves the right, after consultation with the Consignor, to adjust the starting prices for jewellery as well as gold and silverware to the current gold and silver prices in due time. h) If the limit agreed with the consignor is not reached or if there are other important reasons, the auctioneer may knock down the item subject to reservation (UV knockdown). In the event of a subsequent bid of the limit, the item may also be knocked down to another bidder or sold in a subsequent sale without consultation. Bids with UV surcharges are binding for bidders for 5 weeks, but are subject to change for the auctioneer. In particular, any claims of the bidder against the auctioneer are excluded if the UV surcharge is not executed. i) A bid expires if it is rejected by the auctioneer, if the auction is closed without the award being made or if the item is called again. An invalid overbid shall not cause the previous bid to lapse. j) Upon acceptance of the bid by the Auctioneer, the bidder shall be obliged to accept the item and to pay for it. Ownership of the auctioned items shall not pass to the buyer until all claims of the auctioneer have been settled in full. In the case of payment by online services such as Transferwise or Paypal and the like, only the unconditional bank credit entry shall be deemed to be receipt of payment or fulfilment. The risk of accidental loss and accidental deterioration of the item shall pass to the Buyer upon acceptance of the bid. k) The post-auction sale is part of the auction where the interested party places a written order to bid a certain amount. The provisions on distance contracts pursuant to ?? 312b ff BGB shall not apply. l) The Auctioneer also accepts bids submitted by the Bidder via certain "Live Bidding" / "Online Live Biding" providers. These providers charge a percentage on the hammer price in the event of a successful online bid for this service. The auctioneer adds these costs to the hammer price, buyer's premium and any other costs as previously listed. Currently www.lot-tissimo.com or www.the-saleroom.com charge 3% plus VAT. The bidder agrees that the auctioneer will take over the collection and pass it on to the bidders as a transitory item. The provider is solely responsible for this service / performance, for example www.lot-tissimo.com or www.the-saleroom.com. 3. purchase price, turnover tax a) Pursuant to ?25a UstG, all deliveries are subject to differential taxation: A surcharge of 22% shall be levied on the hammer price. This surcharge includes the statutory turnover tax (VAT) on the total difference. The sales tax is not shown on the invoice. In the case of deliveries, e.g. from third countries, which are subject to import VAT (marked with * in the lot no.), invoicing is carried out with standard taxation: a surcharge of 17% is levied on the surcharge total. The statutory turnover tax shall be paid on the hammer price plus buyer's premium. b) In order to compensate for the statutory resale right (? 26 UrhG), the auctioneer shall pay a levy on the sales proceeds for all original works of fine art and photographs since the year of origin 1900 to the Ausgleichsvereinigung KUNST. The buyer shall pay half of the levy rate applicable at the time of invoicing (levy rate January 2012: 2.1% of the hammer price). c) If it is necessary to obtain CITES certificates for the purpose of issuing exemptions from the marketing ban on objects subject to the Convention on International Trade in Endangered Species, any costs incurred shall be borne by the Buyer. d) The statutory value added tax is currently 19% (as of October 2021). Objects of art and collectors' items marked in the catalogue by * before the estimated price are subject to the reduced VAT rate of 7% in the case of standard taxation. e) The tax exemption is excluded for intra-Community export deliveries. In the case of export deliveries to third countries, the VAT shall be refunded to the buyer as soon as the Auctioneer has received the proof of export and the proof of purchase. f) Invoices issued during or immediately after the auction are subject to verification; errors excepted. 4 Maturity, Payment and Default a) Buyers participating in the auction in person shall pay the final price (hammer price plus buyer's premium and VAT) to the auctioneer in cash or by EC card immediately after the hammer has fallen. In the case of buyers who have bid in writing, by telephone or online, the claim shall become due upon receipt of the invoice. The buyer waives the assertion of rights of retention from other, also earlier transactions of the current business relationship. The buyer is only permitted to offset counterclaims if these are undisputed or have been legally established. The buyer, insofar as he is an entrepreneur, waives the right to refuse performance according to ? 320 (? 322) BGB. b) In the event of default in payment, interest on arrears shall be charged; for private buyers (consumers) the amount shall be 5% above the base rate of the ECB p.a., for commercial buyers (entrepreneurs) 8% above the base rate p.a.. In case of payment in foreign currency, any exchange loss and redemption fees shall be borne by the buyer. In addition, the auctioneer may claim damages from the buyer for culpable breach of duty. For this purpose, after the second reminder, he may charge a late payment surcharge of 3% of the total claim as a lump sum for damages, unless the buyer proves that no damage or a significantly lower amount of damage has been incurred. Instead of the lump sum for damages, the auctioneer may demand compensation for the actual damage incurred. This can be calculated in such a way that the item is auctioned again in a further auction with a limit determined at the dutiful discretion of the auctioneer and the defaulting buyer has to pay for a shortfall in proceeds compared to the previous auction and for the costs of the repeated auction including commission and expenses of the auctioneer. In this case he shall not be entitled to any additional proceeds. The rights arising from the hammer price previously awarded to him expire with the new hammer price. Upon the occurrence of default, all claims of the Auctioneer against the Buyer shall become due immediately. c) The auctioneer is entitled to pass on information about defaulting buyers to the Association of German Art Auctioneers or its members. 5. Collection, dispatch, storage a) The buyer is obliged to take receipt of the items immediately after the auction. Buyers who have participated in the auction in writing, by telephone or online must collect the items no later than 14 days after receipt of the invoice. However, items purchased by auction will not be handed over until all claims have been settled in full. b) If the buyer defaults on acceptance, the auctioneer shall be entitled to store the item at his own or a third party's premises at the buyer's expense and risk. The buyer shall also bear the costs of any necessary insurance. For storage, a cost reimbursement of up to Euro 6,- (plus VAT) or the rate of the storage company shall be charged per object and day. The buyer reserves the right to prove that costs were not incurred or were not incurred in this amount. The date for the return of stored items is to be agreed with the auctioneer or named third party. c) The packaging, insurance and dispatch of auctioned items shall be at the expense and risk of the buyer; the auctioneer is merely the agent for these services. Shipping orders will only be executed if the auctioneer or the company entrusted with this task has received the shipping order signed by the buyer and the determined shipping costs as well as all other claims of the auctioneer have been paid. d) If the buyer has been in default of acceptance for at least 12 months, the auctioneer is entitled to realise the items. The auctioneer is entitled to deduct all claims against the buyer from the proceeds of the sale. 6 Liability The auctioneer shall be liable without limitation for intent and gross negligence. In the event of negligent breach of material contractual duties, the auctioneer shall be liable up to the amount of the limit or estimated price. The Auctioneer shall not be liable for slight negligence in the event of a breach of simple, i.e. non-contractual obligations. This exclusion of liability shall also apply to the personal liability of legal representatives, executives and vicarious agents. 7 General a) These terms and conditions govern all legal relationships between the bidder or buyer and the auctioneer. General terms and conditions of the bidder or buyer shall not apply. There shall be no verbal collateral agreements. Amendments must be made in writing in order to be valid. b) The place of performance and jurisdiction, insofar as it can be agreed, shall be Niedernhausen. German law shall apply exclusively. The United Nations Convention on Contracts for the International Sale of Goods (CISG) shall not apply. The costs of any legal proceedings abroad shall be borne by the Buyer insofar as they are not recoverable under the respective national law. c) Should one or more provisions of these Auction Terms and Conditions be invalid in whole or in part, the validity of the remaining provisions shall not be affected thereby. Auctioneer: Sarah Schreiber Managing Partner and Auctioneer Austrasse 12 65527 Niedernhausen Phone: 06127 9999 773 E-mail: schreiber@auktionshaus-schreiber.de IHK Wiesbaden Umsatzsteueridentifikationsnummer DE346033333 nach Par. 27 a des Umsatzsteuergesetzes Unternehmenssitz: Niedernhausen Handelsregister beim Amtsgericht: Wiesbaden Handelsregister-Nummer: HRA 11299 Pers?nlich haftende Gesellschafterin: Auktionshaus Schreiber Beteiligungs GmbH ? Sitz: Niedernhausen Handelsregister beim Amtsgericht: Wiesbaden Handelsregisternummer: HRB 32851 Gesch?ftsf?hrerin: Sarah Schreiber