Summer Art & Antique Auction

1. The auction will be held on a voluntary basis on behalf of and for the account of a third party. This does not affect any lots belonging to the auctioneer - these lots will be clearly marked with a certain code. All other lots are marked with a number showing the owner. There is no claim of the buyer for a disclosure of the consignor's name 2. All descriptions are made up with great care and to the best of the auctioneer's knowledge and all conscience. The catalogue descriptions and any verbal notations of the auctioneer are no warranted for characteristics of the goods and shall not be regarded as assured properties. The lots to be auctioned shall be inspected before the auction during the preview period as listed in the catalogue. All pieces are sold in their present condition: "as is, where is". In case that the buyer has any complaints on the bought lots Art & Auction House will carefully review them and forward the buyer?s claim to the consignor. In case of buying by written purchase order (absentee bid), complaints will only be accepted if a description is substantially and obviously incorrect. Any notice of a claim shall be given immediately - in all instances you must give written notice to us within 2 weeks after receipt of the item, setting forth the basis for the buyer?s claim. Should such a reclaim be accepted, the buyer shall be entitled to claim for the total buying price as a maximum. Any other claims shall be excluded. If a lot comprises three or more items, a complaint for minor defects of individual items shall not be accepted. Lots being described with certain defects shall not be reclaimed for other defects. The auctioneer has the right to exclude any person from the preview and auction for any reason. 3. The auction will be carried out strictly following the numbering in the catalogue. The catalogue text shall be binding, however, if it deems to be suitable, the auctioneer shall be entitled to separate, combine, bring forward, put aside or withdraw any item from the auction. The auctioneer will first call up each item at it's limit price (minimum price) as stated in the catalogue. These limit prices shall not be underbid. Bidding will increase in regular increments of approximately 10% unless determined otherwise by the auctioneer or according to the auction houses' published bid increments list. Any given bid for a certain lot will be valid until the official end of the auction. The highest bid will be called three times and if there is no more overbid, the item is sold as the hammer falls. In case of more than one person making equal highest bids, the winner will be determined by drawing lots. In case of any dispute or if a higher bid has been missed, a new call will for this lot will be made or the item will be sold to the second highest bidder by decision of the auctioneer. The auctioneer is entitled to refuse bids without any further note. In this case the previously given lower bid remains binding for the bidder. In case of a bid below the reserve price this bid is binding for 3 weeks or until the lot is finally sold at this price if the consignor agrees to accept this underbid. If there is a bid at or above the reserve-price the lot will be sold without further notice immediately to the prior bidder. Title to the lot shall pass with the fall of the auctioneer's hammer, thereupon a sales agreement is entered into between the consignor, represented by the auctioneer, and the successful bidder. Upon transfer of title, the buyer assumes full responsibility, including risk of loss and damage, etc. 4. It is the obligation of the lot's winner to pay the purchase price to the auctioneer and pick up the item immediately. All bidders strictly buy in their own name, on their own behalf and for their own account. 5. The purchase price comprises the net hammer price and the buyer's premium. - Hammerprice up to EUR 50.000,- the premium is 23% - Hammerprice from EUR 51.000,- up to 100.000,- the premium is 23% - Hammerprice from EUR 101.000,- up - the premium is 23%. Any invoices made up during the auction are subject of a revision. For purchase orders from absentee bidders the payment of the purchase price is due within 10 days after the date of invoice. The ownership shall only be transferred after full payment. Any banking fees are to be paid by the buyer. 6. Should any buyer fail to pay the full purchase price in time he shall lose his rights as the successful bidder. Such items then will be auctioned at his cost during one of the next upcoming auctions without any prior notice to him. In such a case the defaulter shall be liable for the losses in turnover and for any extra costs for the repeated auction. He is not entitled to any surplus profit. The auctioneer is entitled to collect or sue out purchase money and/or secondary obligations on behalf of the consignor(s). In case of overdue payments an interest rate of 1.5% per month is applicable. In case that the collection of the purchased goods is delayed for more than 14 days the auction house is entitled to store them in the name and at the expense and risk of the buyer. This also might be arranged in cooperation with an autonomous storage company. 7. Written purchase orders (absentee bids) shall only be accepted if received by the auctioneer at least 1 hour before the auction starts. Absentee bids will be handled with greatest care but without any guarantee. Any given prices in absentee bids are made in EURO if no other currency is clearly mentioned. Absentee bids neither contain the buyer's premium nor the VAT. The auctioneer shall handle absentee bids in the bidder's interest, utilizing the highest absentee bid only as far as it is necessary to overbid the second highest by only one increment. Moreover, the auctioneer shall be obliged to maintain secrecy on written absentee bids until the hammer falls. 8. The price the buyer pays is the amount at which the auctioneer?s hammer falls (the hammer price) plus a buyer?s premium (a percentage of the final hammer price) and tax where applicable. The invoice will be made out to the name and address on your Registrations Form, which may not be subsequently altered. Full details of charges and rates can be found in the ?Condition of Sale? and ?Important Notices? printed in each catalogue. 9. Shipping & Transport: International buyers are responsible for all import/export customs duties and taxes. An invoice stating the actual purchase price(s) will accompany all international purchases. Although the shipping/transport of purchased lots are the responsibility (organization including expenses) of the buyer, Art & Auction House can assist with and accommodate shipping for certain item. 10. Handling and Storage Charges: Items and lots uncollected after 30 days may be removed to offsite storage ? handling and storage fees will apply. 11. Unsold lots also can be bought in the clearing sale after the auction within the next 30 days following the auction. These auction terms are valid for the auction and the clearing exactly in the same way and meaning. 12. Place of jurisdiction and performance for all parties involved is Rosenheim, Germany. German law is applicable even for foreign bidders. 13. The bidder declares his explicit acknowledgment and agrees with these auction terms by placing a bid or a written absentee bid. Should any of the above mentioned paragraphs be or become invalid completely or in part, all other obligations shall remain unaffected thereby. Bidders must have full contractual capability. Important Note: Your bid is a contract - by bidding at auction, whether in person or by agent, by absentee bid, telephone, online or other means, the buyer or bidder agrees to be bound by the Conditions of Sale. Place a bid only if you're serious about buying the item. If you are the successful and winning bidder, you have entered into a legally binding contract to purchase the property bid on from the auction house/seller. You should contact the auctioneer/ seller to resolve any questions before bidding. 14. Limitation of Liability All property is sold ?As Is? ? neither Art & Auction House nor the consignor makes any representation or warranty, express or implied, as to the merchantability, fitness or condition of the property or as to the correctness of description, genuineness, attribution, provenance or period of the property or as to whether the purchaser acquires any copyrights or other intellectual property rights in lots sold or as to whether a work of art is subject tot the artist?s moral rights or other residual rights of the artist. The purchaser expressly acknowledges and agrees that in no event shall Art & Auction House be liable for any damages including - without limitation - any compensatory, incidental or consequential damages. Methods of Payment: PayPal (4,9 % charges may be added on PayPal payments) Wire Transfer Cashier?s cheque: a processing fee will be assessed on any returned checks Bank transfer: All transfers must state the relevant auction number, lot number and your bid/paddle number. If transfering from a foreign currency, the amount we receive must be the total due after currency conversion and the deduction of any bank charges. Credit Cards: Visa and Mastercard, please note there is a 3 % surcharge on the total invoice value when payments are made using credit cards. Accounts must be settled in full before purchased lots will be released. If all fees, commissions, premiums, bid price and other sums due to Art & Auction House are not paid promptly in these conditions of sale from the purchaser, we reserve the right to impose a finance charge equal to 1,5 % per month on all amounts due to us beginning on the 31st day following the sale until payment is received, in addition to other remedies available to us by law. If Art & Auction House is prevented by fire, theft or any other reason whatsoever from delivering any property to the purchaser, our liability shall be limited to the sum actually paid therefor by the purchaser and shall in no event include any compensatory, incidental or consequential damages. By bidding at an auction, each purchaser and bidder agrees to be bound by these Conditions of Sale.

Local taxes apply