7th Tiberius Auction - Day 3

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 Section 158 of the Trade, Commerce and Industry Regulation Act and the provisions of the General Terms and Conditions of the Auction House. Statutory provisions only apply on a subsidiary basis. Statutory provisions such as those of the Consumer Protection Act shall remain unaffected. Conflicting terms and conditions of the Auction House?s contractual partners 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 Auction House may refuse to accept Objects even without giving reasons. Objects that have already been accepted can also be withdrawn by the auction house without giving reasons. 3.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 integrated list, which shall be signed by the transferor. The takeover certificate serves to confirm the takeover of those objects which were handed over to the Auction House by the Consignor. Disadvantages due to incorrect or incomplete information are the responsibility of the contributor. (2) By signing the Takeover Certificate, the Consignor agrees to the General Terms and Conditions of the Auction House. At the time of contribution, the contributor receives a copy of the takeover certificate as well as the general terms and conditions of the auction house. Objections must be raised without delay. (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 concerns, the auction house may also request 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. 4. 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. 5. 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 and shall provide an estimate and description thereof. The minimum selling price is determined together with the contributor. The appraisal prices, call prices and descriptions are prepared with due diligence, but the auction house does not guarantee their accuracy to the buyer and contributor. (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 will 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 ?periphery?: a work created within the artist?s sphere of influence. d) The designation ?Signed?: a probable work but not signed 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 are only a non-binding auxiliary translation. The auction house can not be held responsible for the accuracy of the translation. (6) As a rule, the starting price is equal to half of the lower estimated price. (7) The starting price is usually the limit. 6. condition of the objects (1) All items to be auctioned may be inspected and examined prior to the auction during the pre-auction inspection 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 items to be auctioned before the auction. 7. withdrawal of objects (1) The Consignor may withdraw Objects which he has consigned to the Auction House for auction sale up to 7 days prior to 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 transferor 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) subsequently reasons for rejection within the meaning of ? 2 para. 2 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 submitting it to the auction. 8. after sale (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 items submitted for auction shall also apply in the same manner to those items that are sold in the post-auction sale. 9 Unsold and withdrawn properties (1) The contributor of unsold objects shall be requested to collect the contributed objects after the conclusion of the post-sale. If the Consignor fails to comply with the request within the time limit set, the Auction House reserves the right to sell the unsold Objects to the Purchaser. (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 as in ? 10 par. 1. 10. 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. 11. photos / illustrations and display (1) The Consignor grants the Auction House the irrevocable, gratuitous and unrestricted right to photograph and illustrate the Consigned Objects. 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 shall be displayed by means of a description and a picture of the object to be auctioned. 12. 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 bidding 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 accepting the highest bid (highest bid). If the minimum selling price (limit) is not reached, the bid will be awarded conditionally. (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 or the origin of the money is not traceable. (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 any knockdowns made within 14 working days and to re-auction the item. (8) In case of non-payment of an auctioned object within 14 days, the Auctioneer may cancel the knockdown and award it to the underbidder. 13 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 within 14 days after 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 decides whether the object is to be auctioned again or whether it is to be awarded to a bidder who has submitted a lower bid. The Buyer who has not fulfilled his obligation to pay may be imposed a strict penalty in the amount of 10% of the purchase price. (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 22% plus VAT is added to the hammer price. VAT b) In the case of normal taxation (noted in the catalog), a 22% 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 shall be added to the purchase price. The resale right remuneration is only applicable 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. 14. takeover of objects bought at auction (1) Unless otherwise agreed, domestic buyers are obliged to collect the auctioned items within 28 days. For foreign buyers, the collection period is 35 days. Objects not collected during this period will be stored at the expense of the buyer at the company Pempertransporte (Biberstra?e 22/2A, 1010 Vienna). If objects stored at the company Pempertransporte are not collected within 12 months, these objects will be re-auctioned at the expense of the buyer. (2) Within the collection period of the auctioned items, they remain in insured storage at the auction house. After exceeding the collection period, the auctioned items will 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 purchaser will be treated as a contributor with respect to all fees. 15. 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 may be inspected and examined in the original by the prospective buyers during the time of the preview. Claims for damages are therefore excluded. In particular, the 14-day right of return for remote purchases. (4) Details of defects or damage to the objects to be auctioned shall only be described in the catalog if these have a significant influence on the commercial or artistic value. The auction house does not guarantee the condition of the objects. 16 Insurance and compensation (1) All Objects which have been handed over to the Auction House with its consent shall remain the property of the Auction House until the due date of the purchase price or until the end of the collection period pursuant to ? 15 para. 1 insured against loss and damage. The insured value of the objects is equal to the call price, unless a minimum sale price (limit) has been agreed, in which case the insured value is equal to the minimum sale price. (2) The liability towards the contributor begins with the takeover 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 par. 1. in the case of unsold objects, the liability towards the contributor shall end by 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 insured value shall be reimbursed to the contributor. In the case of objects that have already been sold, the buyer will be reimbursed for the respective purchase price. In the event of damage to an object, the Auction House will reimburse the cost of restoration and the reduction in value 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. 17. payment of the proceeds of sale (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 takeover certificate has been issued, payment shall be made only against return of the takeover certificate. (2) If a complaint is raised in respect of 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 Contributor in whole or in part. If the sale proceeds have already been paid out, they may be reclaimed in whole or in part by the Auction House and must be refunded by the Contributor immediately upon request. (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. 18. 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 bids for the client 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 error-free processing of 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 in principle 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. As a rule, telephone bidders are contacted on the morning of the auction day to test availability. 19 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 purchase law without giving reasons is excluded. The objects will be exhibited close to the auction and can be viewed 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. Effective date of these Terms and Conditions is October 19, 2020.