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Ted Noten

Lot 5508: TED NOTEN

Koller Auctions

June 28, 2017
Zurich, Switzerland

More About this Item


Description

TED NOTEN
(1956)
BROOCH, 2005
White Dutch porcelain.

---------------
TED NOTEN
(1956)
BROSCHE, 2005
Weisses holländisches Porzellan.

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Payment

Accepted forms of payment: MasterCard, Visa, Wire Transfer

Shipping

Acceptance Conditions of Sale
New and existing buyers who are currently registered with Omni auction Corp. LIVE Auctions to purchase items must accept the following Conditions of Sale to participate in Omni auction Corp. LIVE Auctions.
Online Bidding
By registering to bid through Omni auction Corp. LIVE Auctions service you agree to accept Omni auction Corp. policies of bid history disclosure whether bidding in person, through a representative, by phone, internet or other absentee bid. Bidders may leave absentee bids on items they wish to purchase.
Item & Property Condition
All items are sold "as is" and neither Omni Auction Corp. nor any Consignor makes any warranties or representation of any kind or nature with respect to the property and in no event shall they be responsible for the correctness, nor deemed to have made any representation or warranty of description, genuineness, authorship, attribution, provenance, period, culture, source, origin or condition of the item and no statement made at the sale or invoice or elsewhere shall be deemed such a warranty of representation or an assumption of liability.
Disclaimer Appsaisal
Appraisals should be used for verification of gemstone and/or metal weight, size, and grade only, not actual value. Appraisal value should be considered for insurance purposes only, not actual value, as price varies greatly from retail locations throughout the world. Items should not be purchased with the expectation to resell for appraisal price or for profit.
Price estimates
High and low estimates are provided solely for comparison purposes and Omni Auction Corp. makes no warranties or representations of any kind relating to them.
Re-lists
Occasionally you may notice that item(s) is re-listed. This can be due to a variety of reasons such as a winning bidder in a previous auction not paying for the item, multiple types of the same item or items listed with a reserve price and the reserve was not met.
Reserve price
Some of the lots offered on auction are subject to a reserve unless auction is advertised as an absolute auction. The reserve is a confidential minimum price, below which the lot will not be sold agreed upon agreement between Consignor and Omni Auction corp. Usually reserve price set below the estimated range but never will exceed estimates listed for this lot.
Breach of Sale:
If the winner fails to pay in full with good cleared funds or fails to comply with the Condition of Sale as set forth herein, Omni Auction Corp. reserves right to exercise one or more of the following remedies:
a) Hold the defaulting buyer liable for the full purchase amount due.
b) Cancel the sale.
c) Forbid the buyer from participating in any future auction.
Cancelling a winning bid
If a winning bid is cancelled for any reason and the winning bidder wishes to back out, a 20% buyer's premium fee will be charged to the winning bidder to cover the costs associated with listing and the non-performer may be blocked from future bidding.
Liability
In no event will the liability of Omni Auction Corp. to any purchaser with respect to any item exceed the purchase price actually paid by such purchaser for such item.
Right to refuse bid
Auctioneer reserves the right to reject any bid. The highest bidder as determined by the auctioneer shall be the purchaser. In the case of a disputed bid, the auctioneer shall have sole discretion in determining the purchaser and may also, at his or her election, withdraw the lot or reoffer the lot for sale. The Auctioneer shall have sole discretion to refuse any bid, or refuse to acknowledge any bidder. The Auctioneer's decision to refuse any bid, advance the bidding in any manner, withdraw a Lot, determine a successful bidder, continue the bidding, to cancel a sale and re-offer and resell an item in dispute, is conclusive, absolute and final.
Methods of Payment
Acceptable forms of payment are listed the auction's info page. You will receive invoice via email within 24 hours after each auction ended with instructions on how to complete transaction.
Payment Due
We will email invoices for all winnings with our PayPal address. If you wish to pay via PayPal - you have 3 working days to do so after you receive invoice with total amount need to be paid. On 4th business day credit cards will be charged for all winnings that have not been paid by Buyer (Winner) via PayPal.
Failure to remit payment to the Auction House (Seller) in the 7 business days may result in legal action against the Buyer (Winner).
Inquiries
All inquiries regarding lots must be sent directly to the Auction House (Seller) via email and received few hours prior to the start of the auction.
Withdrawal Prior to Sale
Omni Auction Corp. reserves the right to withdraw any property before the auction sale starts and shall have no liability whatsoever for such withdrawal.
Guarantee Terms
All items in the catalog are sold as described by Omni Auction Corp. If an item is different than was described by the Omni Auction Corp. Buyer (Winner) has 3 business days from the date the property is received to notify Omni Auction Corp. After the 3 business days period all items are considered "as is", without recourse. Full refund for misrepresented item will be issued. The item(s) (winnings) must be returned in the same condition as when purchased. Only in this case shipping fee will be refunded by Omni Auction Corp. Any refund will be paid directly by the Omni Auction Corp. to the Buyer (Winner) in same method as payment for item(s) (winnings) was made. In case of wire transfer payment - business check will be issued on refunded amount.
Payment and Delivery
At checkout, notification is sent by email to the Buyer (Winner) about shipment made. Shipping will include insurance and tracking number (where available) so that the date of delivery is identifiable. Omni Auction Corp. gives the Buyer (Winner) a period of 3 business days once the package with item(s) is received to inspect the item(s) (winnings) for compliance with the description provided in Auction House (Seller's) listing and plus 3 business days after to prepare and send unwanted item(s) (winnings) back to us.
Return and refund
Please bid responsibly and ask questions before bidding started. We are available to answer any your questions prior the auction.
Return is allowed. We want you to be satisfied with your item(s) winnings and we understand that you are bidding on item(s) thought the computer without seeing item(s) "alive". We give you 3 business days to decide if you are going to keep item. If you decide return item(s) winnings you must email us about your decision and send package to our address. You will be responsible for shipping and insurance fees that will apply when sending package back to us. We will refund you money you have paid for item(s) winnings excluding applicable buyer's premium, shipping and handling fee and we will not charge you restocking fee. If Buyer (Winner) will not notify us about return within 3 business days - also restocking fee of 20% will apply to all returned items.
In the event when item(s) were damaged during shipment process - Omni Auction Corp. will credit the Buyer (Winner) the hammer price of the item(s) plus applicable Buyer's Premium.
In the event when item(s) are NOT received by the Buyer (got lost) during shipment - Omni Auction Corp. will credit the Buyer (Winner) for the hammer price of the item plus applicable Buyer's Premium.
In the event when Buyer (Winner) does not accept the package upon delivery (for any reason) and item(s) (winnings) will be returned to Omni Auction Corp. - Buyer (Winner) will be responsible for paying shipping charges for redelivery of the package.
In the event when Buyer (Winner) refuses the package with item(s) (winnings) upon delivery (for any reason) and package will be returned to Omni Auction Corp. - Buyer (Winner) will be responsible for paying 20% restocking fee from total sale price. Associated with this sale applicable Buyer's premium, shipment and handling fees - nonrefundable.
After 14 business days from receiving package with item(s) winnings returns are not allowed (for any reason).

Design Jewellery

by
Koller Auctions
June 28, 2017, 5:30 PM CET

Zurich, Switzerland

Buyer's Premium

31.0%

From: To: Increment:
CHF0 CHF99 CHF10
CHF100 CHF199 CHF20
CHF200 CHF799 CHF50
CHF800 CHF1,999 CHF100
CHF2,000 CHF4,999 CHF200
CHF5,000 CHF9,999 CHF500
CHF10,000 CHF19,999 CHF1,000
CHF20,000 CHF39,999 CHF2,000
CHF40,000 CHF99,999 CHF5,000
CHF100,000+ CHF10,000

Extended Bidding

5 minutes/bid

Conditions of Sale

Auction conditions Koller West

By participating in the auction the bidder accepts the following auction conditions of Koller Auctions Ltd ("Koller"):

1. Legal status of the parties

The auction items are auctioned by Koller in the name and on the account of the seller ("Seller"). The bid in Swiss francs is accepted from the highest bidder ("Purchaser") recognised by Koller in the course of the auction resulting in the conclusion of a purchase contract between the Seller and the Purchaser.
2. Surcharge

2.1 In addition to the bid price, the Purchaser must pay a surcharge of 25 % on such bid price.

2.2 If the winning bid is placed in the course of an internet live online auction ("Live auctions"), there will be an additional 3% added to the surcharge.

2.3 The Purchaser must pay Swiss value added tax ("VAT") on the surcharge. The stated percentage of the surcharge relates to the successful bid for each individual item.

2.4 The full tax is charged on all items marked * in the auction catalogue, i.e. VAT is charged on the sum of the bid price plus the surcharge for those items. The VAT will be refunded to Purchasers providing a validly stamped export declaration.

2.5 The Purchaser agrees that Koller also receives a commission from the Seller.
3. Disclaimer

3.1 The items are auctioned in the condition existing at the time of the successful bid.

3.2 The items are described to the best of our knowledge and belief. However, Koller cannot accept any liability for the details provided in the catalogue. The items can be inspected during the viewing. The Purchaser is therefore invited to inspect an item prior to the auction and, possibly with the support of an independent specialist advisor, to form its own opinion of the correspondence between the lot and the catalogue description. For the specifications of the items the print edition of the catalogue in the German language (including any later amendments) shall be exclusively applicable. Koller reserves the right to call in experts or specialists of its choice to give an opinion and to rely upon that opinion. Koller cannot be held liable for the correctness of such opinions. Neither any such expert opinions or reports, nor the descriptions of items provided by Koller or other statements pertaining to an item (including statements pertaining to the value thereof) constitute explicit or implicit warranties. No guarantee or warranty whatsoever is given in respect of legal and material defects.

3.3 The liabilities of the Seller vis-à-vis the Purchaser are limited to the same extent as the liabilities of Koller vis-à-vis the Purchaser.
4. Participation in the auction

4.1 Any party may participate in an auction as a Purchaser. However, Koller reserves the right at its complete discretion to prevent any person entering its premises or attending or participating in its auctions.

4.2 Purchasers who are not personally known to Koller must register at least 48 hours before the auction, using the form provided for this purpose. A copy of the passport of the Purchaser must be enclosed with registration, signed with legal effect. In the event of every payment default of the Purchaser, Koller shall be entitled to charge the credit card of the Purchaser in accordance with the details provided on the registration form up to the level of the owed sum plus the expenses of the card provider.

4.3 If a Purchaser who is unknown to Koller is planning to bid for items with upper estimated values of more than CHF 15,000, he shall be required to present to Koller in advance a certificate of creditworthiness issued by a bank approved by Koller.

4.4 In the case of bids for items with upper estimated values of more than CHF 30,000, Koller may demand that the Purchaser first remits 20 % of the lower estimated value as security. Following the auction, Koller will offset this sum against its claims and the claims of the Seller, and will reimburse any possible surpluses to the Purchaser without delay.
5. Auction

5.1 A bid placed at an auction is a binding offer. The bidder shall remain bound by his bid until this is either outbid or rejected by Koller. Double bids shall immediately be called once again; in case of doubt, the auction management shall decide.

5.2 Koller may refuse a bid either without giving reasons or if a Purchaser fails to fulfil the conditions for participation in an auction pursuant to the above clauses 4.2 to 4.4. Koller may also knock down or withdraw auctioned items without a sale.

5.3 Koller reserves the right to combine, separate or omit numbered lots in the catalogue or to offer them out of sequence. Koller reserves the right to sell lots "conditionally" at its sole discretion, in which event the hammer price will be considered as conditional and the highest bidder will remain bound by his bid for 14 days following the auction. The highest bidder will be released from all obligations if he does not receive a statement from Koller within this period declaring the hammer price as final.

5.4 Written bids from potential Purchasers who cannot attend the auction in person are accepted up to 48 hours before the bidding begins.

5.5 Potential Purchasers may bid by telephone if they have given written notice at least 48 hours before the auction starts. Koller does not accept telephone bids for amounts under CHF 500. Purchasers are requested to leave a written bid or participate in the salesroom.



5.6 Potential Purchasers who intend to place their bids in the course of an Online Auction via the internet may participate in the auction once their registration applications have been approved by Koller. Koller reserves the right to decline registration applications at its discretion.

5.7 Koller refuses all liability for any kind of bids as well as advance notifications of telephone bidding which are not taken into consideration. Telephone bidders and persons giving written instructions are also subject to the provisions of clause 5 relating to proof of identity and financial soundness. In the case of Purchasers who place bids in the course of an Online Auction via the internet, clause 5 only applies with regards to financial soundness.
6. Transfer of title

Ownership of an auctioned item shall be transferred to the Purchaser as soon as the purchase price and the surcharge (incl. VAT) have been comprehensively paid and Koller has attributed these payments to the corresponding item.
7. Collection of the auctioned items

7.1 The auctioned items must be collected at the Purchaser's own expense within 7 days from the end of the auction during official opening hours. If time permits, the items may be handed over after each auction session. The handover shall be performed following comprehensive payment of the purchase price as well as the surcharge (incl. VAT) and the attribution of this sum to the auctioned item by Koller. Cheques offered as payment must be confirmed by the drawee bank before the auctioned item is handed over.

7.2 During the aforementioned period Koller shall be liable for loss, theft, damage or destruction of items which have been auctioned and paid for, but only up to the total of the auction price, surcharge and VAT. Koller ceases to have liability after the aforementioned period, and the Purchaser shall be responsible for ensuring adequate insurance cover for the auctioned item. No liability can be assumed for frames and glass. If the auctioned items are not collected within 7 days, Koller will store the works at a company of their choice at the purchaser's own risk and expense or on their own premises at a daily rate of CHF 10 per object.

7.3 Transport orders may be sent to Koller in writing. Unless otherwise agreed in writing, transport insurance shall be taken out for the sold items at the expense of the Purchaser. Glazed pictures and fragile items shall not be sent by Koller.
8. Payment for the auctioned items

8.1 The invoice for a successful bid for an auctioned item is payable within 7 days from the end of the auction. Payments by credit card are only possible with the approval of Koller's accounting department, and are subject to processing fees amounting to between 2 and 4% of the invoiced amount, payable by the purchaser and added to the invoice total. Koller reserves the right to charge the full amount of the invoice to the purchaser's credit card four (4) days after sending the invoice. Irrespective of the Purchaser's instructions, Koller may use any payments by the Purchaser as settlement for any debt owed by the Purchaser to Koller or the Seller and set off any debt which it owes to the Purchaser against its own claims. If the Purchaser defaults on a payment, default interest of 10 % p.a. shall be charged on top of the invoiced sum.

8.2 If the Purchaser does not pay or does not pay promptly, Koller may moreover in its own name and in the Seller's name optionally (i) insist on the fulfilment of the purchase agreement or (ii) without further notice withdraw from the purchase agreement and waive the subsequent performance of the Purchaser or assert a claim for compensation for non-performance; in the latter case Koller shall also be entitled, irrespective of a possible minimum sales price, to sell the item either directly or on the occasion of an auction, and may use the proceeds to reduce the debts of the Purchaser. Any possible sales price above the original hammer price shall be paid out to the Seller. The Purchaser is liable to Koller and the Seller for all prejudice caused by non-payment or late

8.3 Koller retains a right of retention and a lien on all the Purchaser's items in its custody until full payment of all monies owed. Koller may exercise such liens in accordance with the legislation on the enforcement of debts or by private sale (including in its own name). The plea of prior lien exploitation pursuant to Art. 41 of the Swiss Debt Collection and Bankruptcy Act is excluded.
9. Representation

Each Purchaser shall be personally liable for the bid placed by him. Proof of the power of representation may be requested from persons bidding as agents for a third party or as an organ of a corporate body. The agent shall be jointly and severally liable with his principal for the fulfilment of all obligations.
10. Miscellaneous provisions

10.1 The auction shall be attended by an official from the city of Zurich. The attending official, the local authority and the state have no liability for the acts of Koller.

10.2 Koller reserves the right to publish illustrations and photographs of sold items in its own publications and the media and to publicise its services therewith.

10.3 The aforementioned provisions form part of each individual purchase agreement concluded at the auction. Amendments are binding only with Koller's written agreement.

10.4 The present auction conditions and all amendments thereof are governed by Swiss law.

10.5 The courts of the Canton of Zurich shall be exclusively responsible for settling disputes (including the assertion of offsetting and counterclaims) which arise out of or in conjunction with these auction conditions (including their validity, legal effect, interpretation or fulfilment). Koller may, however, initiate legal proceedings before any other competent court.

Contract

Your Bid is a binding and legally enforcable contract.

Payment

Koller accepts only bank transfer for payment. Payment is due upon the close of the auction.

Shipping Terms

Acceptance Conditions of Sale
New and existing buyers who are currently registered with Omni auction Corp. LIVE Auctions to purchase items must accept the following Conditions of Sale to participate in Omni auction Corp. LIVE Auctions.
Online Bidding
By registering to bid through Omni auction Corp. LIVE Auctions service you agree to accept Omni auction Corp. policies of bid history disclosure whether bidding in person, through a representative, by phone, internet or other absentee bid. Bidders may leave absentee bids on items they wish to purchase.
Item & Property Condition
All items are sold "as is" and neither Omni Auction Corp. nor any Consignor makes any warranties or representation of any kind or nature with respect to the property and in no event shall they be responsible for the correctness, nor deemed to have made any representation or warranty of description, genuineness, authorship, attribution, provenance, period, culture, source, origin or condition of the item and no statement made at the sale or invoice or elsewhere shall be deemed such a warranty of representation or an assumption of liability.
Disclaimer Appsaisal
Appraisals should be used for verification of gemstone and/or metal weight, size, and grade only, not actual value. Appraisal value should be considered for insurance purposes only, not actual value, as price varies greatly from retail locations throughout the world. Items should not be purchased with the expectation to resell for appraisal price or for profit.
Price estimates
High and low estimates are provided solely for comparison purposes and Omni Auction Corp. makes no warranties or representations of any kind relating to them.
Re-lists
Occasionally you may notice that item(s) is re-listed. This can be due to a variety of reasons such as a winning bidder in a previous auction not paying for the item, multiple types of the same item or items listed with a reserve price and the reserve was not met.
Reserve price
Some of the lots offered on auction are subject to a reserve unless auction is advertised as an absolute auction. The reserve is a confidential minimum price, below which the lot will not be sold agreed upon agreement between Consignor and Omni Auction corp. Usually reserve price set below the estimated range but never will exceed estimates listed for this lot.
Breach of Sale:
If the winner fails to pay in full with good cleared funds or fails to comply with the Condition of Sale as set forth herein, Omni Auction Corp. reserves right to exercise one or more of the following remedies:
a) Hold the defaulting buyer liable for the full purchase amount due.
b) Cancel the sale.
c) Forbid the buyer from participating in any future auction.
Cancelling a winning bid
If a winning bid is cancelled for any reason and the winning bidder wishes to back out, a 20% buyer's premium fee will be charged to the winning bidder to cover the costs associated with listing and the non-performer may be blocked from future bidding.
Liability
In no event will the liability of Omni Auction Corp. to any purchaser with respect to any item exceed the purchase price actually paid by such purchaser for such item.
Right to refuse bid
Auctioneer reserves the right to reject any bid. The highest bidder as determined by the auctioneer shall be the purchaser. In the case of a disputed bid, the auctioneer shall have sole discretion in determining the purchaser and may also, at his or her election, withdraw the lot or reoffer the lot for sale. The Auctioneer shall have sole discretion to refuse any bid, or refuse to acknowledge any bidder. The Auctioneer's decision to refuse any bid, advance the bidding in any manner, withdraw a Lot, determine a successful bidder, continue the bidding, to cancel a sale and re-offer and resell an item in dispute, is conclusive, absolute and final.
Methods of Payment
Acceptable forms of payment are listed the auction's info page. You will receive invoice via email within 24 hours after each auction ended with instructions on how to complete transaction.
Payment Due
We will email invoices for all winnings with our PayPal address. If you wish to pay via PayPal - you have 3 working days to do so after you receive invoice with total amount need to be paid. On 4th business day credit cards will be charged for all winnings that have not been paid by Buyer (Winner) via PayPal.
Failure to remit payment to the Auction House (Seller) in the 7 business days may result in legal action against the Buyer (Winner).
Inquiries
All inquiries regarding lots must be sent directly to the Auction House (Seller) via email and received few hours prior to the start of the auction.
Withdrawal Prior to Sale
Omni Auction Corp. reserves the right to withdraw any property before the auction sale starts and shall have no liability whatsoever for such withdrawal.
Guarantee Terms
All items in the catalog are sold as described by Omni Auction Corp. If an item is different than was described by the Omni Auction Corp. Buyer (Winner) has 3 business days from the date the property is received to notify Omni Auction Corp. After the 3 business days period all items are considered "as is", without recourse. Full refund for misrepresented item will be issued. The item(s) (winnings) must be returned in the same condition as when purchased. Only in this case shipping fee will be refunded by Omni Auction Corp. Any refund will be paid directly by the Omni Auction Corp. to the Buyer (Winner) in same method as payment for item(s) (winnings) was made. In case of wire transfer payment - business check will be issued on refunded amount.
Payment and Delivery
At checkout, notification is sent by email to the Buyer (Winner) about shipment made. Shipping will include insurance and tracking number (where available) so that the date of delivery is identifiable. Omni Auction Corp. gives the Buyer (Winner) a period of 3 business days once the package with item(s) is received to inspect the item(s) (winnings) for compliance with the description provided in Auction House (Seller's) listing and plus 3 business days after to prepare and send unwanted item(s) (winnings) back to us.
Return and refund
Please bid responsibly and ask questions before bidding started. We are available to answer any your questions prior the auction.
Return is allowed. We want you to be satisfied with your item(s) winnings and we understand that you are bidding on item(s) thought the computer without seeing item(s) "alive". We give you 3 business days to decide if you are going to keep item. If you decide return item(s) winnings you must email us about your decision and send package to our address. You will be responsible for shipping and insurance fees that will apply when sending package back to us. We will refund you money you have paid for item(s) winnings excluding applicable buyer's premium, shipping and handling fee and we will not charge you restocking fee. If Buyer (Winner) will not notify us about return within 3 business days - also restocking fee of 20% will apply to all returned items.
In the event when item(s) were damaged during shipment process - Omni Auction Corp. will credit the Buyer (Winner) the hammer price of the item(s) plus applicable Buyer's Premium.
In the event when item(s) are NOT received by the Buyer (got lost) during shipment - Omni Auction Corp. will credit the Buyer (Winner) for the hammer price of the item plus applicable Buyer's Premium.
In the event when Buyer (Winner) does not accept the package upon delivery (for any reason) and item(s) (winnings) will be returned to Omni Auction Corp. - Buyer (Winner) will be responsible for paying shipping charges for redelivery of the package.
In the event when Buyer (Winner) refuses the package with item(s) (winnings) upon delivery (for any reason) and package will be returned to Omni Auction Corp. - Buyer (Winner) will be responsible for paying 20% restocking fee from total sale price. Associated with this sale applicable Buyer's premium, shipment and handling fees - nonrefundable.
After 14 business days from receiving package with item(s) winnings returns are not allowed (for any reason).

Buyer's Premium

2.1 In addition to the bid price, the Purchaser must pay a surcharge of 25 % on such bid price.

2.2 If the winning bid is placed in the course of an internet live online auction ("Online Auction"), the surcharges are subject to the conditions published on the respective Internet sites.

2.3 The Purchaser must pay Swiss value added tax ("VAT") on the surcharge. The stated percentage of the surcharge relates to the successful bid for each individual item.

2.4 The full tax is charged on all items marked * in the auction catalogue, i.e. VAT is charged on the sum of the bid price plus the surcharge for those items. The VAT will be refunded to Purchasers providing a validly stamped export declaration.

2.5 The Purchaser agrees that Koller also receives a commission from the Seller.

Taxes

The Purchaser must pay Swiss value added tax ("VAT") on the surcharge. The stated percentage of the surcharge relates to the successful bid for each individual item.

Condition Reports

3.1 The items are auctioned in the condition existing at the time of the successful bid.

3.2 The items are described to the best of our knowledge and belief. However, Koller cannot accept any liability for the details provided in the catalogue. The items can be inspected during the preview. The Purchaser is therefore invited to inspect an item prior to the auction and, possibly with the support of an independent specialist advisor, to form its own opinion of the correspondence between the lot and the catalogue description. For the specifications of the items the print edition of the catalogue in the German language (including any later amendments) shall be exclusively applicable. Koller reserves the right to call in experts or specialists of its choice to give an opinion and to rely upon that opinion. Koller cannot be held liable for the correctness of such opinions. Neither any such expert opinions or reports, nor the descriptions of items provided by Koller or other statements pertaining to an item (including statements pertaining to the value thereof) constitute explicit or implicit warranties.

3.3 Subject to Clause 4 below, no guarantee or warranty whatsoever is given in respect of legal and material defects. The liabilities of the Seller vis-à-vis the Purchaser are limited to the same extent as the liabilities of Koller vis-à-vis the Purchaser.