CONDITIONS OF PUBLIC SALE
This auction is held publicly and voluntarily in the name of and on behalf of the consignor. All lots are generally sold via the margin system against immediate cash payment in Euro. Cheques are accepted. However, from customers unknown to us, only confirmed bank cheques will be considered acceptable. Foreign currencies and cheques will be accepted on the basis of the current exchange rate of the Federal Bank (Bundesbank).
2. Lots are knocked down to the highest bidder. The auctioneer reserves the right to refuse to knock down a lot, or to withdraw, recombine or divide lots. The bidding increments are printed in the catalogue. Lots will be sold to the highest bidder upon three calls. Equal bids are determined by drawing lots. In cases of doubt the auctioneer has the right to cancel the knocking down of a lot and to re-offer it.
3. Bidders are liable to take over the lots knocked down to them. Once a lot is knocked down, the risk passes on to the buyer immediately, while ownership is passed on to the buyer only after full payment of the hammer price, the buyer’s premium, the lot fee, and VAT, as well as default charges that may be due. The buyer is entitled to the delivery of the auctioned lots only after full payment has been effected. Delivery of the lots purchased will be effected by the auctioneer at the buyer’s cost and risk. Storage of purchased lots on the auction premises from the time of knockdown is made at the buyer’s risk. Storage more than 4 weeks after knockdown will be charged to the buyer. Agents representing third parties will be held liable in person.
4. On top of the hammer price the buyer pays a commission of 22% of the hammer price plus 2 Euro for each lot purchased. V.A.T. will only be charged on the commission and lot fee. For lot numbers marked with„+“ we charge a 7% import fee on the hammer price. Lots marked with ”•“ behind the lot number have a reduced commission of 15%, on these lots VAT. is payable on the hammer price, commission and lot fee. The VAT is not due in case of export sales to non EC countries, as long as the goods are sent directly by us and proof of export has been received. Export to European Community countries may be exempt from VAT (Dealer with relevant Tax ID Number, reverse charge system). Costs for shipping and insurance will be charged separately according to expenditures plus VAT if applicable. A subsequent change of billing is not possible. Invoices created during or immediately after the auction are subject to retrospective review. Errors and omissions excepted.
5. Invoices to floor bidders are payable immediately. All other invoices are payable upon receipt. If payment is not received within 10 days after the auction or after receipt of the invoice, a late fee of 3% will be charged plus interest rates to the amount of 1% for each month or portion of a month. If the buyer fails to pay promptly or refuses to take the lots, the auctioneer is entitled to sell privately lots that were knocked down to that buyer without further formalities or prior notice in his own name and for his own account, or to put them up for auction again. The defaulting buyer will be held responsible for any deficit in such subsequent sale but has no claim on a possible profit. Also, he is not admitted to any further bids.
6. The auctioneer is authorized, if necessary, to exercise in his own name all rights resulting from the consignor’s orders and hammer prices.
7. Written orders to bid will be executed conscientiously and safeguarding the client’s interests, but without recourse. In case of a bid “at best” the auctioneer may bid up to five times the start price. Lots marked “Gebot” will be called by the highest bid. In the case of bidding by phone, the auctioneer cannot be held responsible for the establishment of an effective connection. Phone bidders are obliged to bid at least the limit price.
8. The description of the lots is done conscientiously and with utmost care, but does not represent any particular guarantee in a legal sense. Claims of any kind must be received by the auctioneer within ten days of the handing over or delivery of the lots. The buyer must inform the auctioneer of his intention to have lots expertized before the sale of the respective lots. However, paragraph 5 of these conditions of public sale remains unaffected.
9. Faults or defects that can be inferred from the illustrations (margins, perforation, centering, cancellation, etc.) can by no means be the subject of complaints. Illustrations scale and color can vary. Collections, accumulations, and lots are reviewed and spot-checked by us. They are sold “as inspected.” No claims of any sort may be made with regard to such objects. These lots can be viewed on our premises. It is recommended to view them or to have them inspected by third parties. No complaint will be considered if the respective lot has been altered. Alterations, in particular, include removal of hinges, hinge remainders or paper adhesions, immersion in water, treatment with chemicals, and the addition (orremoval) of marks of any sort. Only the FALSE sign added by an expert liable for errors is not considered an alteration. Lots already stated to contain faults cannot be returned by reason of further small faults. In case of a justified complaint the buyer will be refunded the complete purchase price upon return of the respective lot. Any further claims to the auctioneer that are not affected by paragraph14 of these terms are excluded. The auctioneer is entitled to refer all complaints to the consignor. For the requirement delivery not the figure is determining excluding the text.
10. The deadline for complaints will be considered exceeded if lots are not taken in due time. Bidding for stamps which have already been expertized as well as stamps with certificates of recognized experts implies the acceptance of existing expert marks or certificates as decisive. If a bid is made subject to certification by different experts, this must be indicated to the auctioneer 24 hours in advance. As a matter of principle, floor bidders purchase lots “as inspected.” They may only complain about hidden defects. This also applies to purchases made by third parties (bidders’ representatives or auction agents).
11. The bidder has to obtain at his expense an expertise from a recognized expert competent for the respective field to substantiate possible claims. In case of a justified complaint, the consignor will be charged possible fees for expertization. The expertises and marks described in the catalogue are considered decisive also with regard to quality. Any other kind of claim against the auctioneer or the vendors is barred by the statute of limitations after 12 months from the first day of the calendar month following the month the auction was held.
12. Except for collections and accumulations as well as lots that contain mint never-hinged stamps, any lot may be requested for home viewing before the auction. Shipping is undertaken at the viewer’s risk, and costs and insurance fees will be charged to him. However, customers unknown to us will have to provide excellent references or make a deposit. If the material is not returned on time for the auction, the recipient will have to pay the full hammer price.
13. The auctioneer reserves the right to exclude persons from the auction without giving any reason. Trading or exchanging stamps on the auction premises is prohibited.
14. Claims for damages against the auctioneer and representatives are not permissible, unless the damage was caused deliberately or through gross negligence. Claims for damages concerning hazards, injuries or health impairment are neither affected nor excluded by these terms in any way. Any other claims against the auctioneer or its consignors shall expire after twelve months’ time (or 24 months’ time for consumers).The first day of the month following an auction marks the beginning of these periods.
15. Place of execution as well as place of jurisdiction for artificial persons, entrepreneurs of other sorts, or bodies without residence or representation within Germany is Stuttgart.
16. By placing a bid or a purchase order, the buyer acknowledges that he knows and fully accepts these conditions of public sale. These auction terms also apply to all subsequent (private treaty) sales of auction lots outside the auction using auction markers (i.e. sales by private contract).
17. Any legal transactions of the auctioneer as well as purchase contracts concluded by awarded bids are subject to Federal German Law exclusively. The UN Treaty for contacts concerning international goods sales (CISG) is not applicable. This translation of the "Versteigerungsbedingungen" is provided for information only. The German version is to be taken as authoritative.