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1. The auction house Venator & Hanstein KG (henceforth referred to as
V&H), conducts public auctions in terms of § 383 paragraph 3 sentence
of the Civil Code as commissioning agent on behalf of the accounts of
submitters, who remain anonymous. With regard to its auctioneering
terms and conditions drawn up in other languages, the German version
remains the official one.
2. The auctioneer reserves the right to divide or combine any catalogue lots
or, if it has special reason to do so, to offer any lot for sale in an order
different from that given in the catalogue or to withdraw any lot from
the sale.
3. All lots put up for sale may be viewed and inspected prior to the auction.
The catalogue specifications and related specifications appearing on the
internet, which have both been compiled in good conscience, do not
form part of the contractually agreed to conditions. These specifications
have been derived from the status of the information available at the
time of compiling the catalogue. They do not serve as a guarantee in
legal terms and their purpose is purely in the information they provide.
The same applies to any reports on an item’s condition or any other
information, either in oral or written form. Certificates or certifications
from artists, their estates or experts relevant to each case only form a
contractual part of the agreement if they are specifically mentioned in
the catalogue text. The state of the item is generally not mentioned in
the catalogue. Likewise missing specifications do not constitute an agree-
ment on quality. All items are used goods.
4. In the event of variances from the catalogue descriptions, which result
in negation or substantial diminution of value or suitability, and which
are reported with due justification within one year after handover, V&H
nevertheless undertakes to pursue its rights against the seller through
the courts; in the event of a successful claim against the seller, V&H
will reimburse the buyer only the total purchase price paid. German
is the official language for the catalogue text. Over and above this,
V&H undertakes to reimburse its commission within a given period of
two years after the date of the sale if the object in question proves not
to be authentic. Liability of V&H for faults or defects is otherwise ex-
cluded.
5. Claims for compensation as the result of a fault or defect in the object
auctioned or damage to it or its loss, regardless of the legal grounds, or
as the result of variances from the catalogue description or statements
made elsewhere are excluded unless V&H acted with wilful intent or
gross negligence; in other regards, point 4 applies.
6. Submission of bids: The floor bidder receives a bidding number on
presentation of a photo ID. V&H reserves the right to grant entry to
the auction. If the bidder is not known to V&H, registration must take
place 24 hours before the auction is due to begin in writing on presenta-
tion of a current bank reference. Bids in absentia: Bids can also be sub-
mitted either in writing, telephonically or via the internet. The placing of
bids in absentia must reach V&H 24 hours before the auction to ensure
the proper processing thereof. The item must be mentioned in the bid
placed, together with ticket number and item description. In the event of
ambiguities, the listed item description becomes applicable. The place-
ment of a bid must be signed by the applicant. The regulations regarding
revocations and the right to return the goods in the case of long distance
agreements (§ 312b – d of the Civil Code) do not apply. Telephonic bids:
Establishing and maintaining a connection cannot be vouched for. In
submitting a bid placement, the bidder declares that he agrees to the
recording of the bidding process. Bids via the internet: They will only be
accepted by V&H if the bidder registered himself on the internet website
beforehand. V&H will treat such bids in the same way as bids in writing.
The objects are sold for at least two thirds of the estimate prices.
7. Carrying out the auction. The hammer will come down when no higher
bids are submitted after three calls for a bid. In extenuating circum-
stances, the auctioneer reserves the right to bring down the hammer
or he can refuse to accept a bid. If several individuals make the same
bid at the same time, and after the third call, no higher bid ensues, then
the ticket becomes the deciding factor. The auctioneer can retract his
acceptance of the bid and auction the item once more if a higher bid that
was submitted on time, was erroneously overlooked and immediately
queried by the bidder, or if any doubts regarding its acceptance arise
(§ 2 point 4 VerstVO). Bids are only played to an absolute maximum
by V&H if this is deemed necessary to outbid another bid. The auctio-
neer can bid on behalf of the submitter up to the agreed limit, without
revealing this and irrespective of whether other bids are submitted. Even
if bids have been placed and the hammer has not come down, the
auctioneer is only liable to the bidder in the event of premeditation or
gross negligence.
8. Once a lot has been knocked down, the successful bidder is obliged to
buy it. If a bid is accepted conditionally, the bidder is bound by its bid
until four weeks after the auction unless he immediately withdraws from
the conditionally accepted bid. From the fall of the hammer, possession
and risk pass directly to the buyer, while ownership passes to the buyer
only after full payment has been received.
9. The buyer shall pay a premium of 23%. This premium is subject to
19% VAT (margin scheme). All lots marked with an asterisk (*) are
charged a premium of 23% on the hammer price; onto this (hammer
price and premium) the statutory VAT of 19% will be added – except
printed books 7% – (normal VAT arrangements). Invoices may be is-
sued for buyers who are entitled to a Pre-Tax Deduction for art and
decorative art for all lots according to the existing »Regelbesteuerung«
(normal VAT arrangements). These buyers must identify themselves
when receiving their bidding paddle. Exports to third (i.e. non-EU)
countries will be exempt from VAT, and so will be exports made
by companies from other EU member states if they state their VAT iden-
tification number. For original works of art and photography created
after January 1, 1900, 1,9% of the hammer price is rated subject to the
resale right.
10. Successful bidders attending the auction in person shall forthwith upon
the purchase pay to V&H the final price (hammer price plus premium
and VAT) in Euro. Payments by foreign buyers who have bid in writing
or by proxy shall also be due forthwith upon the purchase, but will
not be deemed to have been delayed if received within ten days of the
invoice date.
11. In the case of payment default, V&H will charge interest on the out-
standing amount at a rate of 1 % of the gross price per month or part
month. If payment is made in a foreign currency, any exchange rate
losses and bank charges will be borne by the buyer. The same applies to
cheques, which will be recognised as payment only after unconditional
confirmation of the credit has been received from the bank. If the buyer
defaults in payment, V&H may at its discretion insist on performance of
the purchase contract or, after allowing a period of grace, claim damages
for non-performance. In the latter case, V&H may determine the amount
of the damages by putting the lot or lots up for auction again, in which
case the defaulting buyer will bear the amount of any reduction in the
proceeds compared with the earlier auction, plus the cost of resale,
including the premium.
12. Buyers must take charge of their purchases immediately after the
auction. Once a lot has been sold, the auctioneer is liable only for wilful
intent or gross negligence. Lots will not, however, be surrendered to
buyers until full payment has been received or, in the case of payment
by cheque, unconditional confirmation of the credit is received from the
bank. Without exception, shipment will be at the expense and risk of
the buyer. Purchases which are not collected within four weeks after the
auction may be stored and insured by V&H on behalf of the buyer and
at its expense in the premises of a freight agent. If V&H stores such items
itself, it will charge 1 % of the hammer price for insurance and storage
costs.
13. As far as this can be agreed, the place of performance and jurisdiction
is Cologne. German law applies; the provisions of the United Nations
Convention on Contracts for the International Sale of Goods, CISG are
not applicable. Should any provision herein be wholly or partially in-
effective, this will not affect the validity of the remaining provisions.
Henrik Hanstein, publicly appointed and sworn auctioneer
Karl-Heinz Knupfer, publicly appointed and sworn auctioneer
CONDITIONS OF SALE