7 / 256
1. The auctioneers 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
submitters, 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 he 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 auc-
tion. 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 upon 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 cer-
tifications from artists, their estates or experts relevant to each case
only form a 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. Likewise missing specifications do not
constitute a quality agreement. 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 ye-
ars 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 presen-
tation of a current bank reference. Bids in absentia: Bids can also be
submitted either in writing,telephonically or via the internet.The placing
of bids in absentiamust reach V &H 24 hours before the auction to ensu-
re the proper processing thereof. The item must be mentioned in the bid
placed, together with ticket number and item description. In the event of
ambiguities, the listed item description becomes applicable. The place-
ment of a bid must be signed by the applicant.The regulations regarding
revocations and the right to return the goods in the case of long distance
agreements (§ 312b – d of the Civil Code) do not apply. Telephonic bids:
Establishing 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 & H will treat such bids in the same way as bids in writing.
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 higher
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 immediately
queried by the bidder, or if any doubts regarding its acceptance arise
(§ 2 point 4 VerstVO). Bids are only played to an absolute maximum by
V & H if this is deemed necessary to outbid another bid. The auctio-
neer 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. If a bid is accepted conditionally, the bidder is bound by his bid
until four weeks after the auction unless he 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 24%. This premium is subject to 19%
VAT (margin scheme). All lots marked with an asterisk (*) a premium
of 24% of the hammer price is charged, onto this (hammer price and
premium) the statutory VAT of 19%will be added - except printed books
with 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 »Regelbesteuerung« (normal VAT arrange-
ments).These buyers must identify themselves when receiving their bid-
ding 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 identification number. For original works of
art and photographies created after January 1, 1900, 2% is rated for the
droit de suite charge.
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 proxy 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 out-
standing 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 uncon-
ditional confirmation of the credit has been received from the bank.
If the buyer defaults in payment, V & H may 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 & Hmay
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 auc-
tion. Once a lot has been sold, the auctioneer is liable only for wilful
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
auction may be stored and insured by V & H on behalf of the buyer and at
its expense in the premises of a freight agent. If V & 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 Act to Protect German Cultural Proper-
ty (KGSG) and the Data Protection Act (GDPR) are applied.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
Karl-Heinz Knupfer
Publicly appointed and sworn auctioneers by the IHK Köln
CONDITIONS OF SALE