terms of auction
The language of the contract is German. The auction is effected on a voluntary basis, closed to the public, and based on bids made by letter or by phone. All lots are auctioned in the vendor´s own name and on his own account. The auctioneer reserves the right to exclude certain persons from the auction.
The lot is knocked down on the highest bid, i.e. one level above the second-highest bid, as long as no counter-bid is made at the limit price. In the case of equally high bids, the lot goes on the first bidder. Lots are described with "no limit" are knocked down on the highest bid. The minimum bid for this lots is EUR 10.-. The auctioneer has the right to reject a bid, withdraw, regroup or divide lots without giving any reasons.
The minimum bid is: up to € 100 € 2; from € 100 up € 5; from € 200 up € 10; from € 500 up € 20; from € 1000 up € 50; from € 2000 up € 100; from € 5000 up € 200; from € 10000 up € 500-; from € 20000 up € 1000, this list to be continued accordingly. Bids such as "at best", "in any case", etc. have no claim on acceptance. We will accept them up to the fourfold bid.
The auctioneer claims a premium of 25% of the hammer price. In this premium fees the legal VAT is included.(Differenzbesteuerung nach § 25a UStG) VAT is not included in the invoice. The buyer will also be charged with the cost of postage, packing and insurance.
Bidders are obliged to take over lots knocked down on them. Payment is due on receipt of the auction invoice, unless other agreements have been made beforehand. Persons bidding for third parties should make this known to the auctioneer before the auction; otherwise they may be deemed to be the buyer. Lots remain the property of the seller until payment has been made in full which includes clearance of any cheques and payment of any bills of exchange. The buyer has no right to request delivery of any lots until payment has been made in full.
If payment is delayed, interest will be charged at 1% per month or part month. All amounts not paid ten days after the date of invoice are subject to an interest rate of 2%. If the buyer fails to pay promptly or does not take up the lots, the auctioneer is entitled, after due warning, to demand damages from the buyer for non-fulfilment of contract. In this case the auctioneer is entitled to demand flat-rate damages of 25% of the invoice amount in compensation for forgone commission and for expenses incurred unless the buyer can prove that there is no damage or that the amount claimed is excessive. The auctioneer reserves the right to claim higher damages subsequently. Alternatively the auctioneer is entitled to re-auction the lots in question at the charge of the buyer; the buyer thus becoming the seller is obliged to pay commission fees according to the terms of delivery. He is in this case liable for the minimum proceeds, and a new bid made on his part will not be accepted. Persons bidding for third parties will be held liable as directly suable guarantor, as will the third parties concerned.
Shipping of lots is at the buyer´s cost. The risk passes to the buyer as soon as the lots are handed over to the Post Office. If, on grounds for which the auctioneer cannot be held liable, the removal of the goods is delayed once they are ready for shipment, the risk passes to the buyer on receipt of the dispatch advice. The auctioneer insures the lots auctioned against theft during transport.
The descriptions of the lots are made with the utmost care and at the best of the auctioneer´s knowledge. However they do not warrant quality. All lots can be viewed and checked before the auction at the premises of the auctioneer. With the exception of collections, collective lots or other big lots, any lot can be sent to potential buyers on approval. Postage, inclusive insurance cover is payable by the client. This service can only be granted to clients unknown to us on presentation of references. Conditions: the consignment must be returned within 24 hours after receipt. If the consignment has not been returned to us by the day of the auction, the corresponding lots can be "in any case" knocked down on the interested party. Lots which the buyer had been sent on approval are excluded from complaints.
No claims can be made for collections, collective lots or other big lots, especially with a view to quantity and quality. Lots already stated to contain faults cannot be returned by reason of further small faults. Defects which can be seen from illustrations (margins, perforations, cancellations, centring, etc.) cannot be subject of complaints. Clients bidding for stamps which have undergone expertise recognise the corresponding certificates, which can be consulted, as binding. New judgements passed by other experts only entitle the client to complaints when a corresponding agreement was made before the auction. Any complaint relating to definite faults must be made to the auctioneer within ten days after delivery of the lots.
Once his complaint is granted the buyer is entitled to a reimbursement of the purchase price and the commission fee; any further claims put forward by the client are excluded. Any compensation claim against the auctioneer, be it for unauthorised actions, for delay, impossibility of service, positive breach of contract, or fault on taking out the contract are excluded, unless the damage has been caused by deliberate action or by gross negligence. The above terms of auction are valid for all transactions undertaken with lots outside auctions. The client accepts the terms of auction by his bid.
The auctioneer´s place of residence is the only competent court in the event of disputes coming up in the legal relations between the auctioneer and the purchaser, also in case of claims arising from bills of exchange and cheques, and whenever purchaser is a merchant, judicial person according to public law or represents public legal special property. The same court is competent if the purchaser is not subject to jurisdiction in the Federal Republic of Germany, transferred his residence or usual place of abode into a foreign country or his residence or usual place of abode is unknown at the time an action is brought against him.
The German text is the competent one if in doubt about the interpretation of the present general conditions of auction.