Kunst Auktion 29. - 30. Mai 2017, Germann Auktionshaus, Zürich

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