Terms of sale by auction
Terms of sale by auction
1. The auction is voluntary and takes place on the basis of the vendor's instructions. It is undertaken by us in our own name for the account of third parties. At the back of the catalogue for Rare Books you will find the list of consignors.
2. The terms of payment are cash payment in EURO. Public institutions and libraries are granted four weeks credit.
3. Bidding commences at approximately two thirds of the estimate, when a higher reserve price has not been set by the vendor. Bidding will not start below 2/3rds of the estimate. Bids are raised by 5-10 % in each instance. Lots are knocked down to the highest bidder if no higher bid is received after three times of asking. In the case of two equal bids, the buyer is determined by drawing lots. If a difference of opinion regarding a hammer price cannot be resolved at once, the lot in question will be resubmitted for auction immediately .
4. The auctioneer reserves the right to auction lots out of sequence, to split lots, to combine separate lots, to withdraw lots, and to knock down conditionally. He is entitled to reject bids, either written or verbal, where appropriate security or satisfactory references have not been supplied prior to the auction.
5. A premium of 33% is payable on the hammer price. For autographs and manuscripts, the premium is 33% without separate VAT disclosure (marginal taxation). Foreign buyers outside the EU - and, if they provide their VAT identification number as proof of their eligibility for tax-free intra-community deliveries, also companies within the EU - will not be charged VAT if the goods are shipped by us. Other buyers from EU countries must be charged VAT. VAT must be charged if the buyer collects the goods themselves. Invoices issued during or immediately after the auction require special review and possible correction due to the complex criteria and the burden on the accounting system! Errors excepted.
6. The buyer is liable for acceptance of the goods and for payment. Agents are jointly and severally liable with their principals. Ownership only passes to the buyer when full payment has been received. The buyer, however, immediately assumes all risks when the goods are knocked down to him.
7. Auction lots will, without exception, only be handed over after payment has been made. Storage and dispatch for non-local buyers are at their expense and risk. Charges for dispatch, packing and insurance are billed separately. Dispatch is made only after receipt of payment in full. In the event of delayed payment, the buyer is liable for all resultant damages, in particular interest and exchange losses. If the buyer fails to make payment in full within two weeks after the final day of the sale, we shall be entitled to charge interest at a rate of 5% for private customers and 8% for commercial customers, or to cancel the sale, to resell the property, to set off any amounts which we may owe the buyer in any other transactions, and to commence any legal proceedings to the fullest extent permitted under applicable law.
8. All objects put up for auction can be viewed and examined prior to the auction at the times made known. Greatest care is taken with the catalogue descriptions, these however do not grant legal guarantee. The objects are secondhand. The condition, unless otherwise stated, is good and appropriate to the age. Traces of previous ownership (Book-plates, signatures, stamps) as well as signs of fair wear and tear (missing clasps, yellowing paper) are not necessarily specifically mentioned. Periodicals, serial works, collected works and combined lots are not always individually collated. No claims will be accepted in respect of these and they are usually (but not necessarily ) included in the catalogue with the indication "oRR./Waf." ( ohne Reklamationsrecht/ sold with all faults).
9. Claims must be registered within five days of the receipt of the goods. The auctioneer accepts no liability for defects. He will however accept responsibility, in respect of properly founded claims for defects made within the term of limitation of twelve months, for making claims for restitution against the vendor. In the event of a successful intervention the auctioneer will reimburse the payer for the price of purchase.
10. Antiquariat & Auktionshaus Schramm will execute written bids for the buyer at no charge. Telephone, telegraphic and faxed bids must be confirmed in writing. For absentee/written bids the buyer authorizes the auctioneer to execute his bids. For telephone bidding during the auction a staff member will execute the buyers bids as advised on the telephone. For Post Auction Sales the buyer will relay his limit price orders for unsold lots either in writing or per telephone. In aforementioned cases the rules for distant selling contracts (§§ 312b-312d BGB) do not apply. The auctioneer accepts no liability of any nature for bids received later than 24 hours before the commencement of or during the auction; for bids duly received and through negligence not carried out only to the extent of the estimate. Errors in transmission and postal delays are at the buyer's risk.
11. The place of fulfillment and jurisdiction is Kiel. German law applies exclusively. The provisions of international business law are expressly excluded.
12. Should one or the other of the above conditions become wholly or partly ineffective, the validity of the remainder remains unaffected.
By making a bid, either verbally or written, the bidder confirms that he has taken note of the terms of sale by auction and accepts these. In the event of dispute the German version of the above terms of Sale is valid. The same applies to all catalogue descriptions.
The Auctioneers: Daniel Schramm
Further informations
Auction lots will, without exception, only be handed over after payment has been made. Storage and dispatch for non-local buyers are at their expense and risk. Charges for dispatch, packing and insurance are billed separately. Dispatch is made only after receipt of payment in full. In the event of delayed payment, the buyer is liable for all resultant damages, in particular interest and exchange losses
