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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 sub
mitters, 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 forma 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. Like-
wise missing specifications do not constitute an agreement 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
excluded.
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 presentati-
on of a current bank reference.Bids in absentia:Bids can also be submit-
ted 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 itemmust be mentioned in the bid placed,
together with ticket number and item description. In the event of ambi-
guities,the listed item description becomes applicable.The placement of
a bid must be signed by the applicant. The regulations regarding revoca-
tions and the right to return the goods in the case of long distance agree-
ments (§ 312b – d of the Civil Code) do not apply.Telephonic bids:Establi-
shing 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&Hwill treat such bids in the sameway as bids inwriting.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 high-
er 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 immedia-
tely queried by the bidder, or if any doubts regarding its acceptance arise
(§ 2 point 4VerstVO).Bids are only played to an absolutemaximumbyV&H
if this is deemed necessary to outbid another bid.The auctioneer 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.Ifa bid is accepted conditionally,the bidder is bound by its bid until
four weeks after the auction unless it 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 (ham
mer price and premium) the statutory VAT of 19% will be added – ex
cept printed books 7% – (normal VAT arrangements).
Invoices may
be issued for buyers who are entitled to a Pre-Tax Deduction for art
and decorative art for all lots according to the existing »Regelbesteue-
rung« (normal VAT arrangements). These buyers must identify them-
selves 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 identi-
fication 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 pro-
xy 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 outstan-
ding 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 confirmati-
on of the credit has been received from the bank. If the buyer defaults in
payment,V&Hmay 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 wil-
ful 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 auc-
tion may be stored and insured by V&H on behalf of the buyer and at its
expense in the premises of a freight
agent.IfV&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 ineffective,
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