Conditions of Sale for Auctions

In order for you to be aware of the Terms and Conditions of our contract, please read carefully through the details of our Conditions of Sale for Auctions.

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Auctions - Terms and Conditions

NEUMEISTER MÜNCHENER KUNSTAUKTIONSHAUS GMBH & CO. KG

1. Auctions are held publicly by the Münchener Kunstauktionshaus Neumeister GmbH & Co. KG (hereinafter referred to as the „auctioneer“) acting as an agent in its own name but for the account of deliverers (hereinafter referred to as the „consignors“) whose names will not be disclosed. The auction shall be carried out on a voluntary basis.
2. The prices listed in the catalogue shall be estimated prices and not minimum knockdown prices (reserve prices).
3. Every bidder buys in his own name and for his own account unless he produces a power of attorney prior to knockdown. Bids in writing and telephone bids must have been submitted at least 24 hours prior to auction and describe the item listing the catalogue number and the bid price, which shall be understood as knockdown price without surcharge and VAT. Any lack of clarity or accuracy will be at the expense of the bidder; in case of doubt the catalogue number shall prevail.
   As far as telephone bids are concerned, the auctioneer cannot guarantee that a telephone connection to the bidder can be made. Telephone bidding will be only accepted on condition that the estimate price is the minimum bid.
   On account of the legal uncertainty no liability shall be assumed with regard to e-mail bids.
4. The auctioneer reserves the right to combine or separate lots, to offer lots in an order different from that indicated in the catalogue, or to withdraw them. The auctioneer may commence bidding at 50 % of the estimated price unless higher bids in writing or telephone bids have been received. Further bids are usually made at the discretion of the auctioneer 10% above the preceding bid.
5. The auctioneer is entitled to refuse or reserve to himself the knockdown, if a special reason exists. In the event that several persons have made the same bid and after the third call for a bid no higher bid has been made, the knockdown shall be decided by casting lots. In the event that the auctioneer has overlooked a higher bid placed at the proper time and the bidder has immediately objected to it or in the event of doubt in respect of the knockdown ( the auctioneer has the option of repeating the knockdown in favour of a particular bidder or of calling the item again before the auction has been completed. In such cases the preceding bid shall become invalid. If an item was not knocked down despite a bid having been placed, the auctioneer shall be liable to the bidder only in the case of specific intent or gross negligence.
6. An item shall be knocked down if after the third call for a bid no higher bid has been made. The auctioneer is entitled to knock down subject to confirmation, especially in the event that the reserve price specified by the consignor has not been attained. In this case the bidder shall be bound to his bid for a period of three weeks. If the bidder does not receive unconditional acceptance of his offer within this period, the bid shall become invalid. If the bid is not accepted or if someone offers the reserve price, the item can be awarded to a higher bidder without first having to check with the first bidder. It is up to the first bidder to find out whether his bid has been accepted. The knockdown shall take effect with the posting of the written notice to the address given by the bidder.
7. The knockdown makes acceptance and payment obligatory. Upon knockdown, the risk of loss, damage, confusion etc. beyond the auctioneer’s control in respect of the auctioned-off item shall pass to the buyer, who also shall bear the expenses.
8. An item will be sold either under the margin or regular taxation scheme, depending on the specifications of the consignor. The chosen form of taxation must be disclosed to the auctioneer prior to the sale. In the event of margin taxation a surcharge of 25 % plus any droit de suite that may arise shall be added to the knockdown price. The turnover tax is already included and will not be listed separately. With respect to businessmen who are entitled to an input tax deduction in connection with the purchase of art and antiques, regular taxation may be applied. In such case, the purchase price consists of the knockdown price plus 20% surcharge. The statutory VAT rate and any droit de suite that may arise will be added to the total. (In settlement of the statutory droit de suite [Sect. 26 Copyright Law] the auctioneer shall pay a levy to the Ausgleichsvereinigung Kunst on the sale proceeds for all original works created after 01.01.1900). If the items bought at auction are exported by the buyer to an address in third countries (outside the EU), the already paid value-added tax will be refunded to the buyer as soon as he provides the auctioneer with evidence of export shipment. The purchase price is due upon knockdown. Invoices issued during or immediately after the auction shall be subject to review; errors excepted.
9. Payments shall be made in cash in EUR (€) to the auctioneer. Non-cash payments shall only be accepted on account of performance upon special agreement. The auctioneer is not liable for due presentation, protestations, notifications or return of uncashed payments/means of payment. In the event of non-cash payment having been approved of by the auctioneer, all costs, taxes and fees resulting from the payment (including all bank charges accounted to the auctioneer) shall be borne by the buyer. The auctioneer is permitted to retain possession of the item purchased at auction until the buyer has paid the totality of the sums due (in the case of non-cash payment only on unconditional bank credit note). The item remains the property of the auctioneer until all the auctioneer’s claims against the buyer existing at the time of knockdown have been fulfilled. Only uncontested and legally effective counterclaims can be set off by the buyer against the auctioneer. All rights of retention for the buyer are excluded unless they are based on the same contractual relationship.
10. In the event of default in payment the auctioneer is entitled to claim interest on arrears at a rate of 1 % per month for each successive month or any part thereof. Should the buyer default in payment, the auctioneer has the choice of either claiming performance of the contract of sale or damages for non-performance after the expiration of a reasonable period of grace. In such case damages can also be assessed by a repeated sale of the item by auction with the defaulting buyer being liable for a lower knockdown price as compared to the preceding auction and the costs of the repeated auction including the surcharge. The buyer shall not be permitted to submit a further bid nor shall he have any claim whatsoever to any higher knockdown price.
11. The buyer is obliged to collect the purchased item immediately after the auction. Should he default and not collect the item despite being reminded to do so, the auctioneer may claim damages for default subject to the provison that he is entitled to sell the item at a subsequent auction and to assess his damage in the same way as in default in payment.
    Auctioned items are stored after knockdown by the auctioneer at the expense and risk of the buyer. The auctioneer is entitled, but not obliged, to insure the item at the expense of the buyer or to take other precautionary measures. The auctioneer may at any time store any uncollected items with a third party on behalf of and for the account of the buyer. In case the item is stored with the auctioneer, he is entitled to claim standard storage costs (plus handling costs). Items will be shipped on the request of and in accordance with the instructions of the buyer and at the buyer’s expense and risk.
12. All items to be auctioned may be inspected and examined prior to the auction. They are usually of some age and will be knocked down without any liability for defects and excluding any warranty of the auctioneer. Catalogue descriptions are made to the best of the auctioneer’s knowledge and belief and shall not constitute guarantees in the legal sense (Sect. 434 et seq. of the German Civil Code). Their sole purpose is to provide information; they shall not form an integral part of the contractually agreed quality. The same shall apply to any information whether given verbally or in writing. The state of preservation is not continuously mentioned in the catalogue so that any missing information shall also not constitute an agreement as to quality; all items will be sold in the state of preservation they are in at the time of knockdown.
13. In case of deviations from catalogue descriptions, however, which nullify or substantially reduce the value or merchantability and which are reasonably submitted within a period of limitation of one year subsequent to knockdown, the auctioneer agrees to assert his rights against the deliverer, even in court if necessary. If recourse to the courts is successful, the buyer will only be refunded the purchase price by the auctioneer only aditional costs are subject to the buyer. In all other respects, any liability of the auctioneer for defects shall be excluded.
14. Any claims for damages resulting from a defect, loss or damage of the auctioned item, regardless of the legal basis, or deviations from catalogue descriptions or information otherwise provided shall be excluded, provided the auctioneer has not acted with specific intent or gross negligence or violated essential contractual duties. In all other respects, paragraph 12 shall apply.
15. The place of performance and jurisdiction, provided it can be agreed upon, shall be Munich. These Conditions of Sale for Auctions shall be governed by German Law. The UN Convention on Contracts for the International Sale of Goods of April 11, 1980 (Convention on the International Sale of Goods; Federal Law Gazette 89 II) shall not apply.
    If any provision or condition shall in whole or in part be held to be invalid, the validity of the remaining provisions and conditions shall not be affected. An invalid provision shall be replaced by a valid provision that comes as close as possible to the economic content and purpose of the invalid provision.
16. These Conditions of Sale for Auctions shall also apply to the subsequent private sale of items by the auctioneer to a buyer.
17. The lots marked in the catalogue with one or two asterisks (* or **) are subject to a surcharge of 20 % on the knockdown price. Businessmen who are entitled to an input tax deduction in connection with the purchase of art and antiques may, as in the past, request to have their invoices made out under the regular taxation scheme (please notify us when receiving your bidder card). Exports to third countries (i.e. outside the EU) are not subject to value-added tax. Exports to businesses in other EC countries shall also be exempted from value-added tax if a VAT identification number is presented. If items bought at auction are exported to non-EU countries by a bidder himself, he will get a VAT refund as soon as he submits evidence of export shipment. Invoices issued during or immediately after the auction shall be subject to review. Errors excepted.