1. Auctions are held publicly by the SCHEUBLEIN Art & Auktionen KG (hereinafter referred to as "SCHEUBLEIN" or the "auctioneer") acting as a commission agent in its own name but for the account of deliverers (hereinafter referred to as the "consignors") whose names are not guaranteed to be disclosed. The auction shall be carried out on a voluntary basis.
2. The prices listed in the catalogue shall be estimated prices and not the minimum prices at which a bid will be accepted (reserve prices).
3. Bids in writing and telephone bids must have been submitted at least 24 hours prior to the auction and describe the item listing, the catalogue number and the bid price, which shall be understood as hammer price without buyer`s premium and VAT. Any lack of clarity or accuracy will be at the expense of the bidder; in case of doubt the catalogue number shall prevail. For telephone bids, the bidder shall bear the risk for the connection of calls. Telephone bidding will be only accepted on condition that the estimate price is the minimum bid. E-mail bids shall be filed in the absentee bid form and signed in order to be considered.
4. SCHEUBLEIN reserves the right to combine or separate lots, to offer lots in an order different from that indicated in the catalogue, or to withdraw them. Bids shall be called and raised at the discretion of SCHEUBLEIN, usually by 10% over the preceding bid.
5. SCHEUBLEIN is entitled to refuse or reserve to himself the acceptance of a bid if there is a special reason. In the event that several persons have made the same bid and after the third call for a bid no higher bid has been made, the winning participant shall be chosen by lot. In the event SCHEUBLEIN has overlooked a higher bid placed at the proper time with the bidder immediately objecting to it or in the event of doubt in respect of the winning bid, SCHEUBLEIN has the option of either awarding the item in favour of a particular bidder or of calling the item again before the auction has been completed. In such cases the preceding bid shall become invalid. If an item was not knocked down despite a bid having been placed, SCHEUBLEIN shall be liable to the bidder only in the case of specific intent or gross negligence.
6. A bid shall be accepted, if no higher bid has been made after three calls. SCHEUBLEIN is entitled to accept bids subject to confirmation. In this case the bidder shall be bound to his bid for a period of three weeks. If the bidder does not receive unconditional acceptance of his offer within this period, the bid shall become invalid. If the bid is not accepted, the item can be awarded to another bidder offering the reserve price or higher without SCHEUBLEIN having to check with the previous bidder.
7. As soon as his bid has been accepted, the buyer is obliged to accept and pay for the item, and the risk of loss, damage, confusion etc. beyond the auctioneer's control in respect of the auctioned-off item shall pass to the buyer, who shall also bear any expenses.
8. A buyer`s premium of 26 % plus any droit de suite that may arise shall be added to the hammer price. Since January 01, 1995 all items have been sold under the margin taxation scheme. The purchase price is due upon the acceptance of a bid. Invoices issued during or immediately after the auction shall be subject to be reviewed and, if necessary, to be corrected; errors excepted. Any information given verbally and without confirmation in writing is not binding.
9. Payments shall be made in cash in EUR (€) to SCHEUBLEIN. Non-cash payments shall only be accepted on account of performance upon special agreement. SCHEUBLEIN is not liable for due presentation, protestations, notifications or return of uncashed payments/means of payment. In the event of non-cash payment having been approved of by SCHEUBLEIN, all costs, taxes and fees resulting from the payment (including all bank charges accounted to the auctioneer) shall be borne by the buyer. SCHEUBLEIN shall retain possession of the item purchased at auction, until the buyer has paid all amounts due (in the case of non-cash payment only on unconditional bank credit note). The item remains the property of SCHEUBLEIN, until all the auctioneer's claims against the buyer when accepting his bid have been fulfilled. Only uncontested and legally effective counterclaims can be set off by the buyer against the auctioneer. All rights of retention for the buyer are excluded, unless they are based on the same contractual relationship.
10. In the event of default in payment the auctioneer is entitled to claim interest on arrears at a rate of 2 % per month for each successive month or any part thereof. Should the buyer default in payment, SCHEUBLEIN has the choice of either claiming performance of the contract of sale or damages for non-performance without granting a period of grace. Independently, SCHEUBLEIN is entitled to auction off the item again at the bidder`s/buyer's expense. In this event, the defaulting buyer, whose rights from the earlier winning bid stand extinguished, is liable for all losses incurred. The buyer shall not be permitted to submit a further bid nor can he claim possible additional proceeds.
11. The buyer is obliged to collect the purchased item within seven days after the auction. Once this period has expired, SCHEUBLEIN may claim damages for default subject to the provision that he is entitled to sell the item at a subsequent auction and to assess his damage in the same way as in default in payment. As soon as a bid has been accepted, the auctioned item will be stored with SCHEUBLEIN at the expense and risk of the buyer. The auctioneer is entitled but not obliged to insure the item at the expense of the buyer, to take other precautionary measures ensuring its value or to store any uncollected items with a third party on behalf of and for the account of the buyer. In case the item is stored with SCHEUBLEIN, they are entitled to claim standard storage costs comparable to the fees of a forwarding agency plus handling costs. Items will only be shipped on the request of and in accordance with the instructions of the buyer and at the buyer's expenses and risk.
12. All items to be auctioned may be inspected and examined prior to the auction. They are usually of some age and will be sold "as is", in the state of preservation they are in at the time the bid is accepted without SCHEUBLEIN assuming any liability for obvious or hidden defects as well as ascriptions and excluding any warranty. Catalogue descriptions shall not constitute guarantees or warranties in the legal sense (Sect. 434 et seq. of the German Civil Code). Their sole purpose is to provide information; they shall not form an integral part of the contractually agreed quality. The same shall apply to any information (condition report) whether given verbally or in writing. The state of preservation is not continuously mentioned in the catalogue so that any missing information shall also not constitute an agreement as to quality.
13. In the event of deviations from catalogue descriptions, however, which nullify or substantially reduce the value or merchantability and which are reasonably submitted within a period of limitation of one year subsequent to the acceptance of the bid, SCHEUBLEIN agrees to assert their rights against the consignor, even in court if necessary. If recourse to the courts is successful, the buyer will only be refunded the purchase price by SCHEUBLEIN, whereas additional costs are at the expense of the buyer. In all other respects, any liability of SCHEUBLEIN for defects shall be excluded.
14. Any claims for damages resulting from a defect, loss or damage of the auctioned item, regardless of the legal basis, or deviations from catalogue descriptions or information otherwise provided shall be excluded, provided the auctioneer has not acted with specific intent or gross negligence or violated essential contractual duties. In all other respects, paragraph 12 shall apply.
15. To these terms and conditions, German Law shall apply exclusively. The UN Convention on Contracts for the International Sale of Goods of April 11, 1980 (Convention on the International Sale of Goods; Federal Law Gazette 89 II) shall be excluded. The place of performance and payment and the exclusive court of jurisdiction shall be Munich if a) the contractual partners are merchants in the sense of the German Commercial Code (HGB) or b) the party to be taken to court has transferred his domicile or usual place of residence outside the territory covered by the German Code of Civil Procedure after the conclusion of the contract or his domicile or usual place of residence is unknown at the time of the filing of the action or c) the contractual partner has no general place of jurisdiction within the BRD.
16. If any provision or condition shall in whole or in part be held to be invalid, the validity of the remaining provisions and conditions shall not be affected. An invalid provision shall be replaced by a valid provision that comes as close as possible to the economic content and purpose of the invalid provision.
17. These Conditions of Sale for Auctions shall also apply to the subsequent after-auction sale of items by SCHEUBLEIN to a buyer.
