Stand 2020 Conditions of Sale The auction is held in the name of Nagel Auktionen GmbH (hereinafter referred to as “Auctioneer”). The auctioneers act as its representative. They are publicly appointed and sworn auctioneers in accordance with § 34 Para. 5 of the Trade Regulation Act. The auction is thus a public auction within the mean- ing of § 383 Para. 3, p. 1 of the Civil Code. 1. Fundamentals of the auction The Auctioneer holds public auctions within the scope of §383 Paragraph 3 Sub-Clause 1 of the German Civil Code in its own name as consignee and for the account of the depositors (consignors) whose names are not disclosed. By taking part in the auction, the following auction conditions of the Auctioneer are accepted. 2. Defects a) All property items offered for auction can be viewed and in- spected prior to the auction. The property items are second-hand. The catalogue descriptions are made to the best of the author’s knowledge and belief, but are for purposes of information exclusively and are not part of the contractually agreed properties and condition of the items within the meaning of § 434 of the Civil Code, in particular they do not constitute guarantees within the meaning of § 443 of the Civil Code. The same applies to verbal or written information of all kinds, as well as the designation of the items when called. If an Internet catalogue is made in addition, the informa- tion in the printed version is nonetheless authoritative. Impairments in the state of the items’ preservation are not stated in every case, so that lack of information likewise does not furnish grounds for an agreement on the quality of the items. The Auctioneer reserves the right to make corrections to catalogue information. These corrections take the form of written no- tices posted at the place of the auction and verbal corrections made by the Auctioneer immediately prior to the auction of the specific item. The cor- rected information takes the place of the catalogue descriptions. All items are offered for auction in the state in which they are found at the time of the auction. b) In the event of quality defects and defects of title claimed within 12 months after the knockdown, the Auctioneer shall undertake at his own discretion to assign his claims or to assert his claims directly against the Consignor. The condition for this is that the buyer has completely paid the bill for the auction. The costs of legal action taken against the Consignor are borne by the buyer, insofar as the Auctioneer receives no reimburse- ment of costs from the Consignor. The valuation of a recognized expert proving the defect and made at the expense of the buyer is necessary for the assertion of a claim for a quality defect. If claims made against the Consignor are successful, the Auctioneer shall refund only the purchase price to the buyer, matching payment with the return of the property. The buyer is still under obligation to pay the premium as compensation for the services of the Auctioneer. In all other respects, the Auctioneer shall assume no liability for quality defects and defects of title, insofar as the Auctioneer has fulfilled his obligations to exercise diligence. This shall not affect any liability of the Auctioneer for bodily harm or injury to health. 3. Bids a) Floor bids Each bidder must indicate his (her/its) name and ad- dress before the start of the auction. This holds even if he takes part in the auction as a representative. In this case, he must also indicate the name and address of the party he is representing. In cases of doubt, the bidder shall make acquisitions in his own name and for his own account. Each bidder must make a deposit before the start of the auction b) Absentee bids In order to ensure that written bids are properly executed, they must be made on the form provided for this purpose and received by the Auc- tioneer at least 48 hours before the start of the first day of the auction. The bidder is required to provide evidence of the receipt. For a written bid to be effective, it must contain detailed information on the person or company of the bidder as well as the lot number. A telephone number at which the bidder can regularly be reached must be indicated when the bid is made. The bid is restricted exclusively to the lot number indicated. Written bids are only used by the Auctioneer with the amount that is necessary to bid over another bid that has been made. Telephone bids will be accepted by telephoning the bidder before the desired lot is called. This is only done for lots with an estimated price of € 750.00 or more. The condition for taking part by telephone is a written notice received by the Auctioneer no later than 48 hours before the start of the first day of the auction. It is possible to make online bids at some auctions (www.auction.de); this requires a registration at least 48 hours before the start of the first day of the auction. The Auctioneer shall assume no liability for the formation or maintenance of telecommunications connections, nor for the orderly transmission and (timely) receipt of online bids to the Auctioneer. What occurs in the hall (for example, with regard to corrections as stated in Number 2 a of these Con- ditions) shall be authoritative for the course of the auction. Only those bids made in the hall are binding. In any case, the bidder is required to provide proof of the entry of the bid c) Handling of bids and knockdown The Auc- tioneer can reject bids if there are valid reasons for doing so. This applies in particular if bidders cannot furnish, at the demand of the Auctioneer, sufficient security prior to the auction commensurate with the value of the bid. If a bid is rejected, the bid made immediately prior to it shall remain binding. d) Given justified reason, the Auctioneer shall reserve the right to combine or separate lot numbers, call them out of sequence, withdraw them if there is a valid reason, or auction them off subject to reservation (UV-Zuschlag). The lot number is the number under which the items are called in the auction, listed in the auction catalogue, or offered for sale by private contract. e) The knockdown shall follow after the highest bid has been called three times. If several persons make the same bid and no higher bid is made after being called three times, the matter will be decided by drawing lots. If identical written bids are received, the knockdown will be granted to the first bid received. If there are doubts regarding whether or to whom the knockdown has been granted, or if a bid submitted on time is overlooked, or if the highest bidder wishes to withdraw his bid, the Auc- tioneer is entitled to withdraw the knockdown, which is thereby invalidated, and to offer the property for auction once again. Any objections against the knockdown are to be raised immediately, i.e., before the next lot is called. The Auctioneer is entitled to refuse the knockdown if there is a valid reason for doing so. f) The estimated price is normally not a limit; a knockdown may also be made below the estimated price. In order to protect the con- signed property, the Auctioneer is entitled to knockdown to the consignor below the agreed limit. A reversal is made in this case. g) If the limit agreed with the consignor is not reached, or for other valid reasons, the Auctioneer is entitled to knock down subject to reservation (UV-Zuschlag). In the event of a subsequent bid equivalent to the limit, the property may be knocked down to another bidder or sold to another bidder in a subsequent sale with no further consultation being required. Bids with awards subject to reser- vation are binding on the bidder for 5 weeks but may be subject to change without notice by the Auctioneer. In particular, any claims of the bidder against the Auctioneer shall be excluded if the knockdown subject to res- ervation should be unsuccessful. h) A bid will lapse if it is rejected by the Auctioneer, if the auction is closed without a knockdown, or if the property is called for auction again. An invalid overbid does not result in the previous bid being invalid. i) A knockdown called by the Auctioneer obligates the bidder to accept the item and make payment. Ownership of the auctioned property only passes to the buyer when all claims of the Auctioneer have been settled in full. The risk of fortuitous loss or fortuitous deterioration of the property passes to the buyer simultaneously with the knockdown. j) The sale of unsold lots is part of the auction, in which interested parties place their orders for submitting bids of a specific amount in writing. The provisions of §§312b et seq. regarding distance contracts do not apply. The Auction Conditions apply analogously to the sale of unsold lots. 4. Purchase price, turnover tax a) As a rule, all deliveries are subject to a differential tax in accordance with § 25a of the German Turnover Tax Act (UStG), with a premium of 29,5 % being levied on the hammer price. This premium includes statutory turnover tax on the total difference. Turnover tax is not stated separately on the invoice. Consignments which are subject to turnover tax (marked by * with the lot no.), such as those from non-EU countries, for example, are invoiced at the standard tax rate with a pre- mium of 24,5 % being levied on the hammer price. The turnover tax is pay- Seit 1922 Alte und Neue Kunst Nagel Auktionen GmbH | Neckarstrasse 189 – 191 | 70190 Stuttgart | Postfach 103554 | 70030 Stuttgart Tel: + 49 (0) 711 - 64 969 - 0 | Fax: + 49 (0) 711 - 64 969 - 696 | contact @ auction.de