Kunst Auktion 20. - 21. November 2017, Germann Auktionshaus Zürich
Bedeutende Gemälde, Skulpturen, Aquarelle, Zeichnungen, Multiples, Fotografie, Bedeutende Internationale Druckgrafik, Portfolios und Kunstbücher, Internationale Druckgrafik - Germann Auktionshaus AG, 8002 Zürich (Schweiz)
Bedeutende Gemälde, Skulpturen, Aquarelle, Zeichnungen, Multiples, Fotografie, Bedeutende Internationale Druckgrafik, Portfolios und Kunstbücher, Internationale Druckgrafik - Germann Auktionshaus AG, 8002 Zürich (Schweiz)
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Conditions of Sale by Auction<br />
1. By participating in the sale, the bidder fully accepts the following Auction<br />
Conditions of <strong>Germann</strong> Auction House Ltd.<br />
The sale is conducted in Swiss Francs.<br />
After the third call, the object is knocked down to the highest bidder for<br />
immediate payment in Swiss Francs resulting in the conclusion of a purchase<br />
contract between the seller and the purchaser.<br />
Seller shall not bid for their own lots.<br />
A currency converter may be operated at some auctions but only for the<br />
guidance of bidders. <strong>Germann</strong> Auction House Ltd. will not accept any responsibility<br />
in case of error on the part of the currency converter, either in<br />
foreign currency of bids or in Swiss Francs or otherwise.<br />
2. Every purchaser is personally responsible for his bids.<br />
Objections on the grounds of having bought on behalf of a third party are<br />
not accepted.<br />
The auctioneer may refuse a bid without explanation. For the purpose of<br />
auctioning, the auctioneer may group objects listed in the catalog under<br />
different numbers, separate objects listed under the same number, call<br />
them out of sequence or omit them altogether.<br />
<strong>Germann</strong> Auction House Ltd. has absolute discretion to refuse admission<br />
to the auction.<br />
<strong>Germann</strong> Auction House Ltd. may ask a prospective buyer to identify himself<br />
and to supply financial references.<br />
Invoices are payable within 10 days after the auction.<br />
Compensation is excluded.<br />
3. Absentee bids or bids by telephone from buyers who cannot attend the<br />
sale are accepted in writing up to 24 hours before the sale begins.<br />
Telephone bids may be recorded. Written and telephone bids are offered<br />
as an additional service at no extra charge, and at the buyer’s risk. <strong>Germann</strong><br />
Auction House Ltd. cannot accept liability for failure to place such<br />
bids.<br />
4. All buyers shall pay a premium on the hammer price for each lot calculated<br />
as follows:<br />
For a hammer price up to CHF 10 000: 25 %<br />
For a hammer price above CHF 10 000 up to CHF 400 000:<br />
25 % on the first CHF 10 000<br />
20 % on the difference between CHF 10 000 up to CHF 400 000<br />
For a hammer price above CHF 400 000:<br />
25 % on the first CHF 10 000<br />
20 % on the difference between CHF 10 000 up to CHF 400 000<br />
15 % on the difference between CHF 400 000 up to the hammer price.<br />
If the winning bid is placed in the course of a Live Online Auction, there will<br />
be an additional 3% added to the premium. Bidders are subject to the<br />
terms and conditions of <strong>Germann</strong> Auctions House Ltd. as listed on the Live<br />
Auction Website, which may differ in some respects from those listed here.<br />
The above mentioned buyer’s premium is subject to the Swiss VAT, which<br />
is to be paid by the buyer.<br />
For lots marked with asterisk (*) both, the price at which the object has<br />
been knocked down and the buyer’s premium are subject to the Swiss VAT.<br />
After an export declaration duly signed by the Swiss customs aut horities<br />
has been received,<br />
<strong>Germann</strong> Auction House Ltd. will refund the Swiss VAT to foreign buyers,<br />
provided that the sum exceeds CHF 50.<br />
5. All objects are put up for auction on behalf of and on account of third<br />
parties.<br />
The buyer shall not have the right to be informed of the seller’s name or his<br />
commission.<br />
6. The buyer must take possession of the objects in the condition in which<br />
they are at the time of being knocked down to him.<br />
During the preview exhibition the objects are open to inspection.<br />
They are described to the best of our knowledge, but <strong>Germann</strong> Auction<br />
House Ltd. and the auctioneer cannot be held responsible for the information<br />
given in the catalog.<br />
Guarantee of defects of any kind, both physical and legal, is excluded<br />
explicitly. Any written or oral comments are statements of opinion, which<br />
may be revised at any time and are not warranties, guarantees, conditions<br />
or the like.<br />
7. If, within one year from the date of auction of an object, the buyer informs<br />
<strong>Germann</strong> Auction House Ltd. in writing that the said object is a willful imitation<br />
and returns said object in the same conditions in which it was<br />
knocked down to him, and in fact it turns out to be a willful imitation, with<br />
respect to its description in the catalog the auctioneer will cancel the sale.<br />
The proof of willful imitation is to be supplied by the buyer.<br />
Any copy which was produced with intent to deceive, either with respect<br />
to its maker, origin, date, epoch, cultural area or source, without this appearing<br />
from the text of the catalog, and which was worth less at the sale<br />
than it would have been if the object had matched its description, is considered<br />
a willful imitation.<br />
The following restrictions shall apply, however. The object can not be returned:<br />
– if the description in the catalog was made in keeping with the level of<br />
research or according to the opinion of the majority of experts at the time<br />
when the catalog was being compiled; or<br />
– if, in keeping with the level of research, the imitation was not to be qualified<br />
as such at the time the catalog was being compiled.<br />
The object can only be returned by the buyer in whose name the invoice is<br />
issued.<br />
8. A bid constitutes a firm offer to buy.<br />
The bidder remains bound by it until either a higher price is offered or the<br />
auctioneer refuses it.<br />
Should there arise any difference of opinion the auctioneer is free to take a<br />
decision at his sole discretion or put the lot for sale again.<br />
Title and risk pass to the buyer on acceptance of the bid by the auctioneer.<br />
As a rule, bids are invited below the reserve price.<br />
Works of art may be knocked down without having been sold or withdrawn,<br />
without being apparent prior to the end of the auction.<br />
9. The purchase will be released after receiving the buyer’s full payment of the<br />
hammer price, premium and, if applicable the taxes.<br />
After 10 days from the auction, the buyer is fully liable for the loss, theft,<br />
damage or destruction of the acquired items.<br />
<strong>Germann</strong> Auction House Ltd. ceases to have liability after the said period.<br />
You may pay for your purchase immediately after the auction by going to<br />
the Cashiers or an invoice will be mailed to you following the sale.<br />
The object acquired must be picked up at the close of the auction or within<br />
10 days thereafter at the risk and expenses of the buyer.<br />
After that, the objects will be stored at the risk and expenses of the buyer.<br />
The daily rate is CHF 10 per object.<br />
The buyer is fully liable for the loss, theft, damage or destruction of the<br />
acquired items. <strong>Germann</strong> Auction House Ltd. ceases to have liability after<br />
the said period.<br />
Payment by credit card is not accepted.<br />
Late payments are due to a penalty of 1% interest per calendar month.<br />
10. If a buyer fails to pay at all or does not in due time, <strong>Germann</strong> Auction House<br />
Ltd. is entitled to either ask for performance of the terms of the sales contract<br />
or to cancel the sale of the lot without notice. A buyer who does not<br />
abide by the conditions outlined above, is liable to pay damages.<br />
These may include a loss incurred by auctioning off the object a second<br />
time as well as the commission and expenses due for both sales. <strong>Germann</strong><br />
Auction House Ltd. stipulates having the right of retention and a lien over<br />
any of the buyer’s property which is in the possession of <strong>Germann</strong> Auction<br />
House Ltd. for any reason until payment of all outstanding amounts due.<br />
<strong>Germann</strong> Auction House Ltd. may resell those goods by auction or private<br />
sale, with estimates and reserves at <strong>Germann</strong> Auction House Ltd.’s discretion.<br />
If such resale is for less than the amount due the buyer will remain liable<br />
for the shortfall together with all costs incurred during such resale.<br />
The buyer whose allocation has been cancelled shall have no right to raise<br />
a claim on the possible sum in excess of the former price. In addition, articles<br />
213.ff. and following as well as 102.ff. and following of the Swiss<br />
Code of Obligations shall apply.<br />
In case the object has been picked up by the buyer before paying the full<br />
amount of the invoice, <strong>Germann</strong> Auction House Ltd. or the seller is authorized<br />
to rescind the contract and ask for the object to be returned.<br />
11. On demand, <strong>Germann</strong> Auction House Ltd. assists with shipping and insurance<br />
arrangements, but declines all liability resulting from such acts.<br />
If the buyer fails to pay and collect the purchased lot within 10 days after<br />
the auction, the objects will be stored at the buyer’s expense and entire risk<br />
either at <strong>Germann</strong> Auction House Ltd. premises or with a third party and<br />
will be subject to a handling fee and charges for storage.<br />
12. The conditions stated above are an integral part of every purchase contract<br />
concluded at the auction.<br />
Modifications thereof are valid only if agreed upon in writing.<br />
Should any provision of these Conditions of Sale be held unenforceable for<br />
any reason, the remaining provisions shall remain in full force.<br />
13. The Canton and the Borough of Zurich bear no legal responsibility whatever<br />
in connection with the sale.<br />
The Official, delegated by the City of Zurich, acts in a purely supervisory<br />
capacity.<br />
The relationship between the parties to the contract is governed by Swiss<br />
law in all respects.<br />
Deliveries are due at Zurich 2, which is also the place of jurisdiction.<br />
The right of recourse to the Swiss Federal Court is reserved.<br />
The original text in German is binding.<br />
Updated: September, <strong>2017</strong>