Modern Art and Old Masters

The translation of these conditions of sale is provided for information only; the German original is the decisive version. Participation in the auction, which will be transmitted live on the internet implies unconditional acceptance of the following conditions of sale: General Information 1. The sale is voluntary. Quittenbaum Kunstauktionen GmbH (hereinafter referred to as the Auctioneer) acts in its own name but solely for and in the interest of the Seller. 2. Bidders (also called Buyers) have no right to be informed of the name of the Sellers. 3. The sale is conducted in euros. Starting prices are set by the Auctioneer. Bidding increments are generally about 5 to 10% of the previous bid in euros. Preview, Catalogue description and liability of the Auctioneer 4. The lots are available for inspection prior to the sale. They are, without exception, used and of some age. The actual condition of the lots, corresponding to their age and used state, is expressly never described either in the catalogue or on the internet, but is agreed specification (German Civil Code Section 434 para. 1, sent. 1). Colour reproductions in the catalogue may not faithfully reflect the accurate colour(s) of the lot. All descriptions in the catalogue have been made with due care and in good faith for informational purposes only. They do not constitute any agreement on the condition of goods and do not give rise to any guarantees in the legal sense. Only the catalogue details regarding authorship, signature, material and provenance are agreed specifications; a special guarantee, from which further rights of the Buyer result, is expressly not assumed by the Auctioneer with regard to the corresponding condition. The agreement on authorship, signature, material and provenance also does not constitute a stricter liability than that provided for by law, cf. ?? 276 para. 1, 443, 477 BGB. No liability is assumed for the functionality and safety of electrical equipment. Condition reports submitted at the request of the interested party serve only to provide more detailed information about the external condition of the lot in the Auctioneer?s estimation. If the Buyer can prove to the Auctioneer, within one year after the sale that catalogue details concerning authorship, signature, material and provenance are incorrect, the Buyer will be refunded the entire purchase price, given the reciprocal and simultaneous return of the lot by the Buyer. Or, alternatively, upon the Buyer?s request, the purchase price can be reduced. The Auctioneer shall be held liable without limitation insofar as the cause of the damage is based on an intentional or grossly negligent violation of duty by the Auctioneer or a legal representative or vicarious agent of the Auctioneer. Furthermore, the Auctioneer is liable for the slightly negligent violation of essential obligations. Essential are obligations whose violation endangers the achievement of the purpose of the contract or whose fulfilment makes the proper execution of the contract possible in the first place and on whose compliance the Buyers habitually rely. In this case, however, the Auctioneer is only liable for the foreseeable damage typical for the contract. The Auctioneer shall not be held liable for the slightly negligent violation of duties other than those mentioned in the preceding sentences. The above limitations of liability do not apply in the case of injury to life, body and health for a defect after the acceptance of a guarantee, for the quality of the product and for fraudulently concealed defects. Liability under the Product Liability Act remains unaffected. Insofar as the liability of the Auctioneer is excluded or limited, this also applies to the personal liability of employees, representatives, and vicarious agents. Bidding and Auction 5. The Auctioneer has complete discretion to combine or divide lots listed in the catalogue, to offer lots outside the specified sequence, or to withdraw any lot from a sale. 6. The lot is being knocked down if, after three calls, no higher bid is placed and the Seller?s reserve price has been reached. If this reserve price has not been reached, the Auctioneer may either reject the bid or knock down the lot under reserve; in this case, the Bidder is bound to their bid for two weeks. If they do not receive the unconditional acceptance of the bid during this time or if they are outbid by a new Bidder, the bid expires. 7. The Auctioneer has complete discretion to refuse any bid; in this case the bid placed immediately before remains valid and binding. If several Bidders submit identical bids for a lot, the first bid received takes preference. In case of dispute and other doubts about the knockdown, the Auctioneer may put up any lot (= object) for auction again. The Auctioneer may, in his absolute discretion, place bids on behalf of the Seller up to the reserve (limit) for the lots, whether other bids are placed or not. In order to protect the lots to be auctioned, the Auctioneer may knock down the lots below the limit to the Seller; in this case the lot is bought in. 8. For Bidders who cannot participate in the sale personally, written bids are accepted and executed by the Auctioneer in the interest of the Bidder. Bids must be placed by no later than the end of the preview. In the case of written bids, the Bidders authorise the Auctioneer to place bids on their behalf. If Bidders wish to bid by telephone, a member of staff present in the auction hall will be assigned to take instructions from the phone Bidder and place bids accordingly. Bids by phone or via the internet during the sale must be registered and approved in advance with the Auctioneer. The auction house does not guarantee the availability of phone or online services and cannot be held accountable for bids not transmitted or that are incomplete due to technical or other malfunction. Knockdown and Purchase Price 9. With the knockdown arises the obligation to pay the purchase price and remove the lot. The risk of any loss, damage, confusion, etc. shall pass to the Buyer upon the fall of the Auctioneer?s hammer. The Buyer must collect and remove the lot within ten working days from the Auctioneer?s premises, otherwise the Buyer will be found in default of acceptance. In this case, the lot will be moved to a storage contractor for storage, at the Buyer?s expense. Until the purchase price and any other expenses are paid in full, the Auctioneer is not obliged to hand over the auctioned lot to the Buyer or the forwarding agent commissioned by the Buyer. 10. The purchase price is made up of the hammer price, a premium of 25% and VAT, which is levied on the hammer price and premium at the prevailing applicable statutory rate (standard taxation). Alternatively, it comprises the hammer price plus a buyer?s premium of 33%, including statutory VAT that is not listed separately on the invoice (differential taxation). Unless otherwise indicated on the lots, the purchase price is, by default, subject to differential taxation; lots whose estimated price is specially marked are subject to statutory VAT. 11. If the customer has bought the item via a live online bid via an external platform (e.g. www.liveauctioneers.com; www.invaluable.com; www.drouotdigital.com), a surcharge of 3% will be charged on the hammer price to compensate for the resulting external costs. No surcharge will be levied on a live online bid via the Quittenbaum Art Auctions GmbH platform (Quittenbaum live). 12. Furthermore, the Buyer is obliged to pay a proportion of the Additional Premium paid by the Auctioneer to the Verwertungsgesellschaft Bild-Kunst [VG Bild-Kunst, German association for reproduction rights in the visual arts] as compensation for the droit de suite (Artist?s Resale Right Regulations) (German Copyright Act, Section 26), in respect of all original works of fine art whose author is a member of the VG Bild-Kunst, the sum payable being 1.5 % of the hammer price. 13. No VAT will be charged for purchased items that are to be shipped to countries outside the European Union (EU) or within the EU where the Buyer is a company with a sales tax identification number. VAT will be refunded to foreign Buyers upon receipt of proof of export. The Buyer is responsible for complying with all import or export regulations that may be necessary. Payment 14. The purchase price, i.e. the final price (knockdown + premium + or incl. VAT + Additional Premium) is due with the fall of the hammer. Bidders participating personally in the auction must pay the purchase price to the Auctioneer directly in Euro. We accept cash and debit card. Payment via credit card (Amex, Diners, MasterCard and Visa) is accepted up to a total purchase price of 5.000,00 EUR with a surcharge up to 3,0%, depending on the card. In case of later collection, the amount can also be paid via bank transfer. Payments from foreign Bidders who placed their bid in writing, by email or by telephone are due within 10 days of the invoice date. 15. The Bidder has no right of revocation, even if the contract was concluded outside the business premises of the Auctioneer or as a distance contract, as it is a publicly accessible sale, pursuant to ? 312g para. 2 sentence 1 no. 10 BGB. 16. If the Buyer defaults either on acceptance of the purchase or payment of the purchase price in full, the Auctioneer may choose to demand either fulfilment of the purchase contract or damages for non-performance. The Buyer is in default 10 days after billing. If the Auctioneer demands fulfilment, he is entitled to the purchase price plus compensation for damage caused by delay. This includes any exchange rate losses, loss of interest and costs of legal action. If the Auctioneer claims compensation due to non-fulfillment, he is entitled to put the lot on sale again at some future point. Upon the fall of the hammer, the rights of the previous Buyer expire. The Buyer is liable for any shortfall, has no claim to any surplus receipts and will not be allowed to register for a future sale. Collecting of the Purchase 17. Successfully purchased lots shall be shipped only after cash payment has been effected. If payment is not received on time, the Buyer is liable for any damage suffered as a result. Payment may not be deferred. In the case of arrears, interest is charged at the standard bank rate. The Buyer reserves the right to prove minor damage. 18. The Auctioneer is obliged to store all lots after a period of ten working days from the date of the sale. Any lots that have not been claimed within this period may, after this period has expired, be stored by the Auctioneer with a storage contractor in the name and for the account of the Buyer, and at the Buyer?s risk. 19. The Buyer can choose to collect the purchased lots personally, have them collected by a person so authorised in writing, engage a shipper of their own choice or authorise the Auctioneer in writing to organise the transport of their purchase by a shipping contractor in the name and at the cost and risk of the Buyer. In the latter case, the Buyer authorises the Auctioneer to pass on such data to the shipper as are required to carry out shipment and completion of the purchase. 20. Visitors to the premises, especially in the case of previews, will be held liable for any damage caused. GwG (German Money Laundering Act) and final clause 21. According to the German Money Laundering Act (GwG), the seller is obliged to identify the Bidder / Buyer or the person interested in an acquisition as well as, if applicable, a representative acting on behalf of the bidder / buyer and the "beneficial owner" within the meaning of ? 3 GwG for the purpose of executing the order and to record and keep the data collected and information obtained. The Bidder / Buyer is obliged to cooperate in this respect, in particular to present the required identification documents (identity card). The Seller shall be entitled to make a copy / scan / image file of the aforementioned documents in compliance with the provisions of data protection law. In the case of legal entities or partnerships, the extract from the commercial or cooperative register, a comparable official register or directory shall be requested. The Bidder / Buyer or person interested in the acquisition affirms that the identification documents and information provided by him/her for this purpose are correct and that he/she or the person represented by him/her is the "beneficial owner" pursuant to ? 3 GwG. 22. Quittenbaum Kunstauktionen GmbH stores the address supplied by the Bidder exclusively for purposes of transaction and execution of the law placed, for further queries and customer support. The data, which are stored in Quittenbaum?s customer database, are handled in accordance with the statuary provisions (in particular, the Federal Data Protection Act). The Bidder may withdraw their consent at any time to the use of their personal data for marketing purposes by sending informal written notice to that effect by post to Quittenbaum Kunstauktionen GmbH, Theresienstrasse 60, D-80333 M?nchen, or by email to info@quittenbaum.de. This right of withdrawal applies equally to the Bidder?s consent to the future processing of their data after the purchase has been transacted. 23. The law of the Federal Republic of Germany shall apply exclusively. 24. Insofar as this is legally permissible, Munich is agreed upon as the place of performance and the place of jurisdiction. 25. Should one or more provisions of these auction conditions be or become invalid, the validity of the remaining provisions shall not be affected. 26. If the terms and conditions of sale are available in several languages, the German version shall always prevail.