Terms and Conditions of Auction
Terms and Conditions of Auction
(The German version of this terms and Conditions of auction is the only legally binding version. The translated Version is not legally binding and is for convenience only)
The auctions of Mrs. Julie Weißenberg-Déville, proprietor of the Signens Auction House and referred to hereafter as "the Auctioneer", take place under the following conditions:
1. Contract. The Auctioneer holds auctions on behalf and on the account of her clients who remain unnamed, unless the successful bidder has a reasonable interest in knowing the clients identity. The purchase contract therefore comes into being between the consignator of the auctioned object and the bidder. Excluded from this are the specially marked own goods. Items are auctioned voluntary.
2. Items. All objects may be viewed and inspected before the auction. Prospective buyers are liable
for any damage they cause to the items on display. The items are used and are auctioned with no liability by the auctioneer for damage and defects in title. Catalogue descriptions are made following expert and meticulous examination. However, these are not guarantees in the sense of the law.
3. Catalogue. The prices stated in the catalogue are neither minimum nor maximum prices, but serve merely as an indication of the market value of the auctioned goods without any guarantee for its correctness. The auctioneer determines the amount with which the respective item is auctioned off at his own discretion.
The Auctioneer have the right to correct catalogue information in the catalogues concerning the the auctioned goods. Corrections will be made either in a written notice displayed at the place of the auction or orally by the Auctioneer immediately before each item is auctioned. In the case that the online catalogue and the printed catalogue differ in content, the printed version will be authoritative. The Auctioneer have the right to reject, separate, offer in a different order or withdraw numbers from the catalogue.
4. Bids. All bids have to be given by the bidder on his/her own behalf and on his/her own account. The auctioneer may reject a bid without giving reasons.
Written bids , telephone bids and bids made via Internet platforms must be registered at the Auctioneer. They must specify the items, catalogue number and description. In case of doubt, the catalogue number is decisive. The Auctioneer shall decide at her own discretion whether to admit the bidders to the auction (registration), which she shall confirm directly or indirectly to the bidders. The Auctioneer assumes no liability for the establishment or maintenance of the telephone or Internet connection.
5. Knockdown. Auctions are held in Euro. The auctioneer have the right to determine the increases in the amount of each bid. If the reserve price is reached, the knockdown goes to the highest bid after the third call. The auctioneer reserve the right to knock down the lot if the minimum bid has not been reached, or to refuse if there is a special reason. In the case of a bid under reserve, the seller client will be informed immediately after the end of the auction and requested to inform the auctioneer of his decision within two weeks. The bidder remains bound to his bid until the decision of the seller client. If he does not receive the unconditional acceptance within this time, the acceptance of the bid expires. If several persons have made the same bid at the same time, the auctioneer will drew the lot to determine the winner. The Auctioneer is authorized to withdraw the.
accepted bid and to offer the Object again if a higher bid made in time has been overlooked by mistake or if there are other doubts about the knockdown. The purchaser is obliged to give his full name, address and nationality and to prove his one's identity. Otherwise the Auctioneer is entitled to withdraw from the contract.
6. Buyer´s Premium. A Premium of 28% plus VAT at the current rate will be charged on the Hammer price (see 5). The value-added tax is therefore only charged on the premium. Excluded from this are
the Auction house own goods, which are marked in the catalogue as follows # (stock number), the purchase price is than composed of the hammer price + 28% buyer's premium + VAT. For works of art which are subject to the compensation of the statutory resale right (§ 26 UrhG), the successful bidder shall pay a flat-rate levy of 2.5 % on the hammer price.
For customers who bid through internet platforms additional 3 % for drouot.com plus the applicable value added tax and 5% for www.invaluable.com plus the applicable value added tax will be added to the hammer price. This does not apply to bidding through the auction house Signens Julie Weissenberg-Déville's own platform, www.signens.com. (Page 1/2)
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7. Payment. Payments can be made in cash until 5000 EUR (€) to the auctioneer. All types of non-cash payments are
accepted by special agreement. If the Auctioneer has agreed to non-cash payment, all costs, taxes and fees of the payment (incl. the bank charges paid by the Auctioneer) caused by this have to be paid by the Purchaser. The Auctioneer is not obliged to give to the purchaser the Object purchased at auction before payment (in the case of non-cash payment only after unconditional bank crediting) of all amounts. The transfer of ownership remains reserved until all claims against the buyer existing at the time of the knockdown have been settled. The Auctioneer is authorized to carry out all actions or legal transactions in the name of the Vendor or in her own name which are connected with the procurement of the property and the collection of the claim, also the judicial assertion.
The successful bidder may only offset claims against the Auctioneer if they are undisputed or have been legally established. Rights of retention on the part of the bidder are excluded, unless they are based on the same contractual relationship. The acceptance of the bid obliges the buyer to accept and pay the purchase price without delay. Default of payment occurs 14 days after acceptance of the bid or unconditional acceptance. The BGB default interest will be charged. In the event of default of payment, the Auctioneer may withdraw from the contract after setting a reasonable deadline. In this case, all rights of the buyer to the object of purchase expire, while the Auctioneer is entitled to claim her lost profit as compensation. If a lower price is achieved at a further auction, the damage consists of the difference as well as the expenses for the second auction. In case of default, the auctioned object is stored at the buyer's risk and expense by the auctioneer, who is entitled but not obliged to take out insurance at the buyer's expense or to take other measures to secure its value. The Auctioneer may at any time store unclaimed objects at a third party in the name and for the account of the buyer. In the case of self-storage by the Auctioneer, the Auctioneer may demand payment of the usual storage fee (plus handling costs). The object will only be send at the request and according to the instructions of the buyer and at his expense and risk. The risk of accidental destruction, loss or damage pass to the successful bidder upon acceptance of the bid, but ownership of the auctioned object shall not pass to the buyer until the purchase price has been paid in full and the object has been handed over. The purchase price for buyers who have bid in writing, in text form or by telephone is due with the reception of invoice.
8. Liability. The Auctioneer and her vicarious agents are only liable for contractual and tortious claims for damages in cases of intentional or grossly negligent breaches of duty. This limitation of liability does not apply to damages caused intentionally or negligently to damage life, body or health.
9. Place of performance and jurisdiction is Cologne, if the purchaser is a merchant and is not a trader as defined in § 4 of the German Commercial Code (HGB) or is a legal entity under public law or a special fund under public law. German law shall apply. The UN Convention on Contracts for the International Sale of Goods of 11.04.1980 (CISG; Federal Law Gazette 89 II) shall not apply.
10. Severability clause.Should one of these provisions be or become invalid in whole or in part, the validity of the remaining provisions shall remain unaffected. The invalid provision shall be replaced by a valid provision that comes as close as possible to the commercial content and purpose of the invalid provision. Subsidiary agreements must be made in writing.
11. Subsequent private sale. These Auction Terms and Conditions apply also to the subsequent private sale of items by the Auctioneer to a purchaser. I have taken note of the auction conditions and agree with them.
