Great Art - Small Price and Masterworks

PLEASE NOTE: The purchase price consists of the highest bid plus the buyer's premium, sales tax and, if applicable, the fee of artists resale rights. In the case of normal taxation (marked ° at the estimate), a premium of 24% is added to the highest bid. The mandatory sales tax is added to the sum of the highest bid and the buyer's premium. This amounts to 13% for paintings, drawings, graphic works and sculptures and 20% for photographs and all other items. The buyer's premium amounts to 28% in case of differential taxation. The sales tax is included in the differential taxation. Rules of Procedure Extract from the Rules of Procedure, as of April 2024 The auctions are conducted in accordance with the Rules of Procedure of the Widder Auctions of Kunsthandel Widder GmbH. The exact wording of these rules is available at the auction house and can be downloaded from www.widderauktionen.com Estimated prices, starting price, minimum sale price, limit, hammer price: In object descriptions, an upper and lower estimated price is stated in Euro. The highest bid is expected within this range. The starting price is also stated online. Usually the starting price is the lower estimated price, but it can be set higher or lower. The auctioneer increases the price by steps of approx. 10%, although it is possible to deviate from this. The highest bid wins, provided that the minimum selling price has been reached. If the seller decides not to sell the object below a fixed price, this is called the minimum sale price or limit. If this is not reached, the sale is considered conditional. Highest bidders are obliged to pay the purchase price within 10 days after invoicing. Purchase price The purchase price consists of the highest bid plus the buyer?s premium, sales tax and, if applicable, the fee of artists resale rights. The buyer?s premium amounts to 28% in case of differential taxation. The sales tax is included in the differential taxation. In the case of normal taxation (marked ? next to the estimate), a premium of 24% is added to the highest bid. The mandatory sales tax is added to the sum of the highest bid and the premium. The sales tax amounts to 13% for paintings, drawings, prints, graphic works and sculptures, and 20% for photographs and all other items. Resale Right Items marked * are subject to the artists resale right. This will be charged in the form of a surcharge on the highest bid. It only applies to highest bids over ? 2,499.99 and is staggered: for the first ? 50,000 4% will be charged. Thereafter, for additional ?150,000, 3% and for another ?150,000, 1% and for another ?150,000, 0,5% is charged. For ?500,000 and above 0.25% are charged. The maximum resale right charge is 12,500 ?. Authenticity guarantee The auction house vouches for the authenticity of the object to the buyer within two years and guarantees that the object is indeed by the named artist. Catalog information and description Details of technique, signature, material, condition, provenance, etc. are provided by experts of the auction house. However, no guarantee is given for the correctness of this information. The descriptions of the objects mean: first and last name of the artist with life data: an authentic work of the artist. ?Signed? or ?monogrammed?: a clearly attributable work by the artist. ?Attributed?: a probably, but not necessarily authentic, work by the artist. ?Circle?: a work created within the artist?s sphere of influence. ?Inscribed?: a probably authentic work, but not signed by the artist?s hand. ?Workshop?: a work created in the artist?s immediate environment. ?School?: a work created in temporal and stylistic proximity to the artist. ?Succession?: a stylistically related work created in the artist?s succession. Bidding orders The auction house accepts bidding orders in written, verbal and telephone form or via the Internet. For written bids the auction house bids up to the specified highest bid. The auction house can only guarantee the execution of written and telephone orders if they have been received in writing (letter, email, fax or hand-delivered to the auction house) at least 24 hours before the start of the auction. Bids can be cancelled up to a maximum of 24 hours before the start of the auction, after which cancellation is no longer possible. The cancellation must be sent in writing by post or email to office@widderauktionen.com, received no later than 24 hours before the start of the auction and receipt must be confirmed by the auction house. Telephone bids Interested parties have the opportunity to bid by telephone. The auction house will make every effort to reach the telephone number provided. If there is no telephone connection, the auction house can bid on behalf of interested parties up to the lower estimated price of the object. In this case, the auction house is not obliged to execute the bid. Internet bidding, online bidding, live bidding Potential buyers can place pre-bids and live bids online at live.widderauktionen.com or on various auction platforms. These are treated like written purchase orders, with the exception that bids can be submitted until immediately before the start of the auction and also during the auction. The auction house usually conducts ?timed-then-live? auctions. Bids can be submitted online in the pre-bid phase, which starts approximately 3-6 weeks before the auction day. When the live auction starts on the day of the auction, the pre-bid phase turns into a live auction and all bids from the auction platforms, written bids, as well as telephone and floor bids are taken into account when determining the highest bid (hammer price). Insurance Art objects are insured against loss and damage until the end of the collection period, up to the amount of the highest bid. After that, the art object is only insured for a maximum of 6 months after the invoice is issued, provided there is no late payment. Place of jurisdiction, choice of law The place of jurisdiction and place of performance for all legal relationships is 1010 Vienna. Austrian substantive law applies.