NEW YEAR AUCTION

Galerie Moenius AG 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 Swiss Franc (CHF) 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 26%. The Swiss VAT of 8.1% will be added to the Buyer?s premium. Buyers who file their papers in due and proper form will be able to get a full refund of the VAT (an officially stamped export declaration is necessary). For items marked with an *, VAT will be calculated on the hammer price and Buyer?s premium. If the bidder wants to pay via credit-card 3% of the total-amount will be charged. Bidder cards can be charged 4 days after an invoice has been sent. 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. Important: Cash payments are limited to CHF 10.000,00 (ten thousand) only. The addressee of the invoice must be the forwarder of the bank transfer. 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, this applies in particular to time informations. If items or paintings are framed, the frames are sold with the item or painting. Galerie Moenius AG assumes no liability for damages of frames. If books or magazines are auctioned, Galerie Moenius AG does not guarantee their completeness. The state of preservation is at most briefly commented on. 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. As the storage options of Galerie Moenius AG are very limited, a storage fee of CHF 5.00 per item for each day will be charged if the items are not picked up on time. 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. Cash payments are limited to CHF 10.000,00 (ten thousand) only. Invoices might be revised. Errors are excepted. Galerie Moenius AG assumes liability for damage, destruction or theft of fully paid items/object for 14 days, limited to the amount of the accepted bid, premium and Swiss 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`t be arranged, but Galerie Moenius will recommend a shipper. A liability for transport damages or loss is rejected 7. 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 Swiss law 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. Place of execution and sole jurisdiction is Bern.