Lot 4234: A ROD DUDLEY BRASS OF ARCHBISHOP MANNIX

General Conditions of Business
As at 16 January 2012
These Conditions apply to all sales conducted and
services provided by the Company and any goods
which are held by the Company for valuation, storage
or any other purposes.
1. Definitions
In these Conditions the following words and expressions
shall (unless the context otherwise requires) have the
following meanings:
'Agreed Reserve' means the confidential minimum
Sale Price at which a Lot may be sold as agreed
in writing by the Seller and the Company on the
Consignment Agreement Form or otherwise.
'Auctioneer' means the representative of the Company
conducting the auction.
'Buyer' means the person to whom a Lot is knocked
down by the Auctioneer or a person who purchases
a Lot sold by the Company on behalf of a Seller by
private treaty or tender or any other sales process.
'Catalogue' includes any advertisement, brochure,
price list and other publication produced by the
Company.
'Charges' means charges and expenses paid or
payable by the Company in respect of a Lot as set out
in these Conditions, including legal expenses, packing
or shipping costs, taxes, levies, removal and storage
charges and interest, plus any GST payable. The
relevant charges and expenses will be passed on to the
Seller and/or Buyer at the price paid or payable by the
Company plus 10%, or otherwise as is set out in writing
or agreed by the Company and Seller and/or Buyer.
'Claims' means all sums of money, debts, dues, suits,
actions, causes of action, proceedings, arbitrations,
claims, accounts, liabilities, losses, demands, costs,
expenses, notices or any other type of claim howsoever
arising out of these Conditions or anything relating to
the subject matter of these Conditions.
'The Company' means Leonard Joel Pty Ltd ABN 27
136 908 597 trading as Leonard Joel unless written
notification to the contrary is provided.
'Consignment Agreement Form' means the form
signed, and a copy of which is received, by the Seller
containing the terms on which the Seller submits a Lot
or Lots for sale by the Company or the form used to
provide a record of an item or items taken into custody
for evaluation, research or advice.
'Dollars' or '$' means Australian currency.
'Estimated Selling Range' means the estimated Sale
Price range of a Lot.
'Expenses' includes all fees, charges and expenses
listed on the front page of the Consignment Agreement
Form and/or correspondence annexed to it and/or as
agreed in writing between the Company and the Seller.
'Forgery' means an imitation intended by the maker or
any other person to deceive as to authorship, origin,
date, age, period, provenance, culture, source or
composition, which at the date of the Sale had a value
materially less than it would have had if the Lot had not
been such an imitation, and which is not stated to be
such an imitation in the description of the Lot given in
the Catalogue. A Lot will not be a Forgery by reason of
any damage to and/or restoration and/or modification
work (including repairing or over painting) having been
carried out on the Lot, where that damage, restoration
or modification work (as the case may be) does not
substantially affect the identity of the Lot as one
conforming to the description of the Lot given unless
there was an intention to deceive
'GST' means a tax payable under the New Tax System
(Goods and Services Tax) Act 1999 as amended.
'Hammer Price' means the price in Dollars (including
GST, if any) at which a Lot is knocked down by the
Auctioneer to the Buyer unless it is auctioned again
('Second Auction') as a result of a dispute in which
event it means the price at which the Lot is knocked
down by the Auctioneer to the Buyer at the Second
Auction.
'Indemnity Fee' means the mandatory fee paid by
the Seller on all sold Lots with the exception of V Lots
and referred to in the Consignment Agreement Form,
being 1.5% of the Hammer Price, plus GST.
'Lot' means any item or items consigned by or on
behalf of the Seller to the Company with a view to its
sale at auction or by private treaty and includes a V Lot.
'Lot Number' means the number allocated by the
Company to a Lot prior to auction.
'Offer Fee' means the flat fee paid by the Seller
regardless of whether a Lot sells and referred to in the
Consignment Agreement Form.
'Premium' (unless otherwise stated in a relevant auction
Catalogue) means 20% of the Hammer Price paid by
the Buyer, plus GST.
'Purchase Price' means the aggregate of the Sale Price,
the Premium, any GST payable on the Sale Price and/or
the Premium and the Charges.
'Sale' means any private treaty or auction sale at which
a Lot is offered for sale.
'Sale Price' means the Hammer Price if sold at auction
or the price agreed by the Buyer at private treaty
(including GST, if any).
'Sale Proceeds' means the net amount payable
to the Seller, being the Sale Price less the Seller's
Commission, Expenses and any other amount payable
to the Company by the Seller as agreed between
the Company and the Seller (in whatever capacity
and howsoever arising, whether in relation to these
Conditions or otherwise).
'Second Auction' has the meaning set out in the
definition of Hammer Price.
'Seller' means in relation to any Lot the person or other
entity named as the Seller on the front page of the
Consignment Agreement Form who offers the Lot for
sale.
'Seller's Commission' means the amount paid by
the Seller to the Company on the sale of a Lot that is
calculated on the Sale Price at the rate agreed in writing
by the Seller and the Company on the Consignment
Agreement Form or otherwise, plus GST.
'V Lot' means any motor vehicle or marine vessel
consigned by or on behalf of the Seller to the Company
with a view to its sale at auction or by private treaty.
2. The Company as agent
2.1 The Company is the agent of the Seller in relation
to the sale of a Lot (except where it is expressly stated in
writing to be selling as principal) and is not responsible
for any default by the Seller or the Buyer.
2.2 The Seller instructs and authorises the Company
to:
(a) sell the Lot as the Seller's agent in accordance with
these Conditions;
(b) receive and hold all Sale Proceeds on the Seller's
behalf;
(c) sign on the Seller's behalf any documentation
necessary to transfer ownership of the Lot to the Buyer;
(d) allow the Lot to be inspected by prospective
Buyers prior to the Sale, at any time and in any manner
or place agreeable to the Company; and
(e) remove any Lot from the frame, holder, case or
covering to examine it.
3. The Company's discretion
3.1 The Auctioneer has the right at his or her sole
discretion to refuse any bid, to divide any Lot, to
combine two or more Lots, to withdraw any Lot from
Sale and, if there is a dispute or the Auctioneer or
the Company is of the opinion that there has been a
misunderstanding or mistake regarding a Sale or a Lot
the subject of a Sale, to rescind the Sale and put any Lot
up for a Second Auction.
3.2 If a Sale is rescinded, the Company may:
(a) put the Lot up for a Second Auction at a
subsequent Sale; or
(b) offer the Lot for sale by private treaty; or
(c) withdraw the Lot from sale.
3.3 The Company may refuse entry to its premises
or to any private premises at which it is conducting
an auction by any person or persons at its absolute
discretion.
4. Risk of personal loss or injury
The Company shall be under no liability for any injury,
damage or loss sustained by any person while on the
Company's premises or any Sale premises or where a
Lot, or a part of a Lot, may be on view from time to
time, except where the Company (and its employees or
agents) has not acted with due care and skill.
5. The Company's Estimated Selling Range and
descriptions
5.1 (a) Any Estimated Selling Range given by the
Company is a statement of opinion and should not be
relied upon as a representation as to the Sale Price a
Lot may achieve at a Sale.
(b) The Company reserves the right to revise the
Estimated Selling Range at any time with the agreement
of the Seller.
5.2 The Seller acknowledges that the Company is
entitled to rely on the accuracy of a description of a Lot
provided by or on behalf of the Seller.
5.3 The Company shall not be liable for any error,
misstatement or omission in the description of a Lot in
any Catalogue, unless the Company (and its employees
or agents) has engaged in misleading or deceptive
conduct.
6. Warranties of Seller
6.1 The Seller warrants to the Company and the Buyer
that:
(a) the Seller owns the Lot or the Seller is authorised
to sell the Lot by the owner (in which case, an original
signed authorisation by the owner must be provided to
the Company);
(b) the Lot is free from all liens, charges encumbrances
and third party claims including a claim by a spouse;
(c) the Seller has complied with all requirements,
legal or otherwise, in relation to any export or import
of the Lot and has notified the Company in writing
of any failure by third parties to comply with such
requirements in the past;
(d) the Lot and any written provenance given by the
Seller to the Company are authentic;
(e) the Seller has notified the Company in writing of:
(i) any material alterations to the Lot of which the
Seller is aware;
(ii) any concerns expressed by third parties in relation
to the authenticity, provenance, origin, age, condition
or quality of the Lot;
(iii) all information in the Seller's possession as to the
provenance and identification of the Lot including, in
respect of a V Lot, whether that V Lot complies with
the provisions of any road traffic or maritime Acts and
Regulations,
and that information is correct; and
(f) the Lot is fit for its purpose and safe if used for the
purpose for which it was designed and free from any
defect not obvious on external inspection.
6.2 For motor vehicles and number plates the Seller
will provide to the Company prior to the Sale all legal
and requisite title and registration certificates, permits
and other documents to transfer title of the Lot to the
Buyer.
6.3 The Seller acknowledges that the Company
relies on any information provided by the Seller and
the Seller agrees to indemnify and keep indemnified
the Company against all Claims arising out of or in
connection with this information.
6.4 The Seller agrees to indemnify and keep
indemnified the Company and or the Buyer against all
Claims arising from the Seller's actual or alleged breach
of any warranty in these Conditions.
7. Commission and Expenses
7.1 The Seller shall pay to the Company the Seller's
Commission and any other Expenses set out in the
Consignment Agreement Form.
7.2 The Company may deduct and retain the Seller's
Commission from the amount paid by the Buyer for
the Lot as soon as the Purchase Price, or part of it, is
received and before the Sale Proceeds are paid to the
Seller.
7.3 The Seller shall pay to the Company the relevant
Offer Fee on a Lot being offered for sale whether or not
the Lot is sold.
8. Reserves
8.1 All Lots will be sold without reserve unless there
is an Agreed Reserve. If a Lot has an Agreed Reserve
then it will be offered subject to the Agreed Reserve.
8.2 If there is an Agreed Reserve:
(a) it may only be changed with the written consent
of the Company although the Company may at its own
discretion consent to an oral request for a reduction
(but not an increase);
(b) only the Auctioneer may place a bid on behalf of
the Seller;
(c) neither the Seller nor any person on the Seller's
behalf may bid on the Lot;
(d) if the Auctioneer is of the opinion that the Seller or
a person on the Seller's behalf may have bid on the Lot,
the Auctioneer may knock down the Lot to the Seller
without observing the Agreed Reserve and the Seller
shall pay to the Company the Premium in addition to
the Seller's Commission and Expenses.
8.3 If a Seller purports to place a reserve on a Lot but
that reserve is not an Agreed Reserve, the Company will
sell the Lot without reserve unless the Seller withdraws
the Lot from Sale in accordance with clause 11.
8.4 If there is no Agreed Reserve, the Company shall
not be liable if the Sale Price of the Lot is less than the
Estimated Selling Range.
8.5 Where the Agreed Reserve for a Lot is $5,000 or
less and the Lot is offered for sale and is unsold, the
Company reserves the right to lower the Agreed
Reserve at each subsequent auctions for the Lot for a
subsequent Sale at subsequent auctions by up to 20%
for each subsequent auction.
9. Risk
9.1 Any V Lot in the power, possession or custody
of the Company (including during transportation by
employees or agents of the Company) shall at all times
remain at the risk of the Seller until the legal risk passes
to the Buyer (see clause 9.8 below) and, except where
the Company (and its employees or agents) has not
acted with due care and skill, the Company shall not be
liable for any Claims relating to any V Lot.
9.2 The Seller shall not make any Claim against the
Company in respect of loss of or damage to any V Lot,
except where the loss or damage is as a result of the
Company (and its employees or agents) not acting with
due care and skill, and, other than in circumstances
where the Company (and its employees or agents) has
not acted with due care and skill, the Seller indemnifies
the Company against all Claims relating to or caused by
any V Lot.
9.3 The Seller shall insure any V Lot in the power,
possession or custody of the Company for no less than
the maximum value of the V Lot as estimated by the
Company for loss of or any damage to the V Lot and
shall maintain that insurance until the Lot has been sold
and the Seller has been notified by the Company that
the Purchase Price has been received.
9.4 In respect of Lots that are not V Lots, the Company
indemnifies the Seller against some risks arising from
fire and other insurable perils, theft following forcible
entry, hold up and water damage to the extent of the
Company's insurer's liability to it in that regard. In the
event of a loss, except where the loss is as a result of the
Company (and its employees or agents) not acting with
due care and skill, the Seller may only claim an amount
up to:
(a) in the case of unsold Lots:
(i) the Agreed Reserve; or
(ii) in the absence of an Agreed Reserve, the low end
of the Estimated Selling Range; or
(iii) in the absence of (a) or (b) above, an amount
included in a loss assessment provided by the Company
or, if disputed by the Seller, by an independent loss
assessor appointed by the Company; or
(b) in the event that the loss occurs after the fall of
the Auctioneer's hammer and the Lot is sold but the
Company has not yet received payment from the Buyer
as cleared funds, an amount equal to the net proceeds
which would have been due to the Seller.
9.5 The company will charge the seller the Indemnity
fee for providing the Indemnity referred to in clause 9.4
if the lot is sold.
9.6 The Company's own insurance will subsist until
payment is made by the Buyer or, in the case of unsold
Lots, until the expiry of 7 days after notice from the
Company requiring the Seller to collect the unsold Lot.
9.7 Subject to clauses 9.4, the Company will not be
liable for any Claims relating to or caused by any Lot
or by the Seller, except where the Company (and its
employees or agents) has not acted with due care and
skill, and the Seller indemnifies the Company against all
Claims relating to or caused by any Lot, except where
the Company (and its employees or agents) has not
acted with due care and skill.
9.8 A purchased Lot shall be at the Buyer's risk in all
respects from the fall of the Auctioneer's hammer
whether or not payment has been made and neither
the Company nor the Seller shall thereafter be liable
for, and the Buyer indemnifies the Company against,
any loss or damage of any kind, except where the
Company (and its employees or agents) has not acted
with due care and skill.
9.9 The Company advises all Buyers to arrange for
their own insurance cover for purchased Lots effective
from the fall of the Auctioneer's hammer to protect
their interests as the Company cannot warrant that the
Seller has insured its interests in the Lots or that the
Company's insurance cover will extend to all risks.
9.10 Where the Company has exercised due care
and skill, the Company:
(a) does not accept responsibility for Lots damaged
by insect infestation or by changes in atmospheric
conditions; and
(b) shall not be liable for such damage nor for any
other damage to glass or to picture frames.
10. Payment to Seller
10.1 The Company is only liable to the Seller for
payment of the Sale Proceeds if the Purchase Price has
been received in cleared funds by the Company.
10.2 If the full Purchase Price has been received in
cleared funds by the Company within 21 days of the
date of the Sale, the Company shall pay the Sale
Proceeds to the Seller not later than 35 days after
the date of the Sale. Unless an alternative method of
payment shall have been agreed in writing with the
Seller, payment shall be made by sending to the Seller
a cheque by post at the Seller's risk.
10.3 If the Purchase Price has not been received in
full by the Company within 21 days of the date of the
Sale, the Company shall pay the Sale Proceeds within 6
business days after the date on which the full Purchase
Price is received in cleared funds from the Buyer.
10.4 If the Buyer fails to pay the Purchase Price within
21 days after the date of the Sale then the Company will
give notice of this to the Seller. If the Seller does not
give written instructions to the Company in response to
this notice within 7 days then the Company may do any
of the following for and on behalf of the Seller (who will
give the Company any assistance it may require):
(a) agree terms for the payment of the Purchase Price
with the Buyer;
(b) remove, store and further insure the Lot sold;
(c) settle any Claim by or against the Buyer;
(d) take such steps as the Company shall at its absolute
discretion consider necessary to collect the monies due
from the Buyer;
(e) rescind the Sale and refund any monies to the
Buyer;
(f) offer the Lot for resale by private treaty or auction
on the same terms as appear in the Consignment
Agreement Form;
(g) appoint a solicitor or other agent to do any of the
above.
10.5 Any monies recovered by and paid to the
Company by the Buyer shall be applied in the following
order (in each case together with interest) to the
payment of:
(a) any legal or other costs incurred by the Company;
(b) the Expenses;
(c) the Premium;
(d) the Seller's Commission; and
any balance remaining shall be paid by the Company to
the Seller (or, if appropriate, the Buyer).
10.6 In the event that there is a shortfall, any such
shortfall shall be made good by the Seller to the
Company on demand.
10.7 If, within 7 days of receipt of the notice referred
to in clause 10.4, the Seller informs the Company that
the Seller wishes to take delivery of the Lot, the Seller
shall be entitled to do so but only upon prior payment
of the Offer Fee and any legal and other costs incurred
by the Company so as to provide the Company with a
full indemnity in respect of those costs.
10.8 If the Company rescinds a Sale because the Lot
is proved to its reasonable satisfaction to be a Forgery
(see clause 15.5) and the Company has accounted
to the Seller for the Sale Proceeds, the Seller must
immediately refund the Sale Proceeds to the Company,
which will then refund the Purchase Price to the Buyer
and make the Lot available to the Seller for collection.
11. Withdrawal fees
11.1 A Seller may only withdraw a Lot from sale by
written notice signed by the Seller.
11.2 If a Seller withdraws a Lot from sale either at
any time after 30 days have elapsed after signing the
Consignment Agreement Form or after the Company
has photographed the Lot and/or allocated a Lot
Number to the Lot (whichever is the earlier) but before
the Lot has been advertised and/or catalogued for
auction, the Seller shall pay to the Company the
Expenses plus a withdrawal fee equal to 15% plus GST
of the higher of:
(a) the average of the Estimated Selling Range high
and low estimates; and
(b) the Agreed Reserve.
11.3 If a Seller withdraws a Lot from sale after the
Company has advertised and/or catalogued the Lot for
auction but before the Lot has been put on view, the
Seller shall pay to the Company the Expenses plus a
withdrawal fee equal to 25% plus GST of the higher of:
(a) the average of the Estimated Selling Range high
and low estimates; and
(b) the Agreed Reserve.
11.4 If a Seller withdraws a Lot from sale after the
Lot has been put on view at the sale venue or in the
Company's premises up to and including 28 days
after the Sale, the Seller shall pay to the Company the
Expenses plus a withdrawal fee equal to 30% plus GST
of the higher of:
(a) the average of the Estimated Selling Range high
and low estimates; and
(b) the Agreed Reserve.
11.5 If a Seller purports to change the Agreed
Reserve at any time without the consent of the
Company, the Seller shall be deemed to have
withdrawn the Lot from sale.
11.6 If the Company or the Seller is restrained by
order of any Court or other competent authority from
selling a Lot or if the Company has reasonable cause
for believing that either:
(a) the Company or the Seller is so restrained or
otherwise not legally entitled to sell the Lot;
(b) the Seller is in breach of any one or more of the
warranties of the Seller, or
(c) the description of the Lot given to the Company
by the Seller is inaccurate or misleading in any material
respect,
then the Company may by notice in writing to the
Seller decline to sell the Lot in question and the Seller
shall be deemed to have withdrawn the Lot from sale.
11.7 If a Lot is withdrawn from sale or deemed to
have been withdrawn then the Seller shall arrange for
collection and removal of the Lot at Seller's expense
within 2 business days after the date of withdrawal
provided that the Seller has paid the Expenses and the
applicable withdrawal fee.
11.8 If the Company incurs any legal and other costs
investigating or defending any Claims concerning the
ownership of a Lot, the accuracy of the description of
the Lot contained in the Catalogue or the warranties of
the Seller, the Seller shall indemnify the Company for
all such costs.
11.9 The Company is authorised by the Seller to
apply any money held by the Company on behalf of the
Seller to the payment or reimbursement of any amount
payable by the Seller to the Company including the
Expenses and the withdrawal fees.
11.10 The Company may claim a lien on any goods
held by the Company for the Seller until all money
payable to the Company by the Seller has been paid
and, if it is not paid within 28 days, may exercise a
power of sale over those goods.
12. Photography and illustration
12.1 The Company shall have the right to
photograph and make illustrations of any Lot and to use
at its discretion in the normal course of business such
photographs and illustrations, and any photograph or
illustration of a Lot owned and supplied by the Seller,
whether or not in conjunction with the Sale.
12.2 Where the Seller agrees to the cost of such
photographs and illustrations being incurred (and
the amount to be incurred), the Seller is liable for the
payment of that cost.
12.3 The copyright of all photographs taken and
illustrations made of any Lot by and on behalf of
the Company shall be the absolute property of the
Company.
13. Unsold Lots
13.1 The Seller must request from the Company
confirmation as to whether or not a Lot has been sold
at the Sale. If a Lot is unsold the Seller shall advise
the Company that the Seller wishes to collect the Lot
and shall arrange for its removal from the premises of
the Company or the Sale premises. The Seller must
pay to the Company the Offer Fee and all Expenses,
and the estimated cost of delivery of the Lot if the
Company agrees to arrange redelivery to the Seller
before removal of an unsold Lot.
13.2 If a Lot is unsold at the Sale, the Company is
authorised by the Seller as the Seller's sole agent to sell
the Lot by private treaty or by auction for a price that is
not less than the Agreed Reserve at any time within 28
days after the Sale, provided that:
(a) if the highest offer for an unsold Lot is referred to
the Seller then the Seller may accept that offer; and
(b) if the maker of the offer wishes to withdraw the
offer then they must do so in writing prior to the
communication to them by the Company of the Seller's
acceptance of the offer.
13.3 If the Seller sells a Lot that was unsold at the
Sale:
(a) within 90 days after the Sale to a person who was
registered to bid at the Sale; or
(b) within 28 days after the Sale to any person,
the Seller must notify the Company in writing of the
terms of the Seller's Sale within 7 days and pay the
Seller's Commission, the Offer Fee and the Premium
to the Company within 7 days after the Seller's Sale as
though the Company had sold the Lot on behalf of the
Seller.
13.4 If an unsold Lot is not collected by the Seller or
sold by the Company within 28 days after the Sale and
after the Company has given to the Seller 7 days' notice
to arrange for its collection, then the Seller authorises
the Company to dispose of the unsold Lot by public
auction without reserve and to deduct from the Sale
receipts all monies owing by the Seller to the Company.
14. The Buyer
14.1 The Auctioneer may knock down a Lot to the
person who, at his or her absolute discretion, he or
she believes is the highest bidder acceptable to the
Company, subject to any Agreed Reserve. Any dispute
may be determined by the Auctioneer at his or her
absolute discretion and the decision of the Auctioneer
shall be final.
14.2 Every bidder shall be deemed to act as principal
unless prior to the commencement of the Sale there is
a written acceptance by the Company that the bidder
is acting on behalf of a third party and that the bidder is
not personally liable.
14.3 No person shall be entitled to bid at a Sale
without first having completed and delivered to the
Company a bidder registration form acceptable to
the Company and the registration form will include an
acknowledgement by a bidder that they are bound by
these Conditions.
The Company is the agent of the Seller, not the
Buyer, and it is not intended that there be any legal
relationship between the Company and the Buyer.
15. Buyers to satisfy themselves
15.1 Lots are sold on an 'as is' basis and it is the
responsibility of prospective Buyers to examine a Lot
prior to the Sale and to satisfy themselves as to the
condition of the Lot and that the Lot matches any
written or oral description provided by the Seller or the
Company.
15.2 All descriptions provided by the Seller or
the Company are subject to any statements made
by the Auctioneer from the rostrum prior to any bid
being accepted for the Lot and any illustrations in the
Catalogue are solely for the guidance of prospective
Buyers and should not be relied upon in terms of tone
or colour or necessarily to reveal imperfections in any
Lot.
15.3 In bidding for any Lot, prospective Buyers agree
that they have not been induced to make any bid by
any representation, to the extent the representation
is not misleading or deceptive, in respect of the Lot
by the Company, including any representation arising
from a document that has been provided by the Seller
to the Company in association with the Sale of a Lot
and made available by the Company for inspection
by prospective Buyers. If prospective Buyers wish to
rely on any representation made by or on behalf of the
Company, they must advise the Company in writing of
this prior to the Sale.
15.4 If the Company is found to be liable for any
loss or damage suffered, other than in circumstances
where the loss or damage suffered is as a result of the
Company (and its employees or agents) not acting with
due care and skill or the Company (and its employees or
agents) engaging in misleading or deceptive conduct,
(a) the maximum liability of the Company to a Buyer
shall be the Sale Price of the relevant Lot and the
Premium (if paid by the Buyer); or
(b) the maximum liability of the Company to a Seller
shall be the Sale Proceeds of the relevant Lot,
and the Company shall not be liable for any
consequential or indirect loss whatsoever.
15.5 If a Lot is proved to the reasonable satisfaction
of the Company to be a Forgery then the Company
may rescind the Sale as agent of the Seller in which
case the Seller shall refund the Sale Proceeds to the
Company, which will refund the Purchase Price to the
Buyer and make the Lot available to the Seller for
collection provided that:
(a) the Buyer provides written notice to the Company
within 14 days of the auction date of the Forgery
allegations;
(b) the Buyer produces evidence from two
independent experts who both agree that the Lot is a
Forgery, however, the Company reserves the right to
request further expert evidence if, in its sole discretion,
it is not satisfied with the findings by the experts;
(c) the Buyer returns the Lot to the Company in the
same condition as it was at the date of the Sale;
(d) the Buyer warrants that it has not sold or transferred
the Lot nor created any rights in respect thereof in
favour of any third party;
(e) the Seller has refunded the Sale Proceeds to the
Company.
15.6 The benefits of this clause are for the Buyer only
and cannot be assigned.
15.7 Despite clause 15.5 the Company has no
obligation to rescind the Sale and the Buyer shall not
be entitled to rescind the Sale if in the opinion of the
Company:
(a) the description of the Lot in the Catalogue was
accurate at the time of its publication based on the
opinion of an expert in the relevant area of expertise at
that time; or
(b) the only method of establishing at the time of
publication of the Catalogue that the Lot was a Forgery
would have been a scientific process not then in
general usage, or which would have been too costly or
impractical or would have been likely to cause damage
to the Lot.
15.8 If the conditions of clause 15.5 are satisfied
and clause 15.7 does not apply, the maximum liability
of the Company to a Buyer shall be the Sale Price of
the relevant Lot and the Premium (if paid by the Buyer)
but shall not include a refund of storage charges,
insurance, interest and the like, or any consequential or
indirect loss or damage suffered or expense incurred by
the Buyer.
16. Premium
Unless otherwise stated in the Catalogue, the Buyer
shall pay the Company the Premium. The Buyer
acknowledges that the Company may also receive a
Seller's Commission.
17. Contract of sale
17.1 Subject to the Company's discretion, on the
acceptance of a bid by the fall of the Auctioneer's
hammer a contract of sale is made between the Seller
and the Buyer. The Company is not a party to the
contract of sale and shall not be liable for any breach of
that contract by either the Seller or the Buyer.
17.2 Risk of the Lot will pass to the Buyer on the fall
of the Auctioneer's hammer.
17.3 Title to the Lot will pass to the Buyer when the
full Purchase Price has been received by the Company
by way of cleared funds.
18. Payment by Buyer
18.1 At the same time that a prospective Buyer
registers to bid he or she must give the Company
his or her name and address and, if requested by the
Company, banking or other suitable references or
identification and an acknowledgement that they have
read and agreed to be bound by these Conditions.
18.2 The Purchase Price must be paid to the
Company not later than 4.00pm on the second day
after the Sale unless otherwise stated in the Catalogue.
18.3 On the fall of the Auctioneer's hammer, the
successful bidder on any V Lot, and other Lots as
determined by the Company at its absolute discretion,
may be required to provide a deposit equal to 15% of
the Hammer Price, either in cash, approved credit card
or approved bank cheque. If the successful bidder
does not do so then the Company may rescind the Sale
and resubmit the Lot for a Second Auction.
18.4 Absentee or telephone bidders who are
unable to attend a Sale and who wish to bid on any
V Lot and other Lots as determined by the Company
at its absolute discretion may be required to provide a
deposit equal to 15% of the low end of the Estimated
Selling Range (but no less than $500), either in cash,
approved credit card or approved bank cheque prior to
the Sale. In the event that such absentee or telephone
bidders are unsuccessful then the Company will refund
any deposits received within 5 working days from day of
the Sale.
18.5 Full payment for all Lots must be made to
the Company by cash, electronic funds transfer or
approved credit card. Where the Buyer wishes to pay
by bank cheque, personal or company cheque, and the
Company has agreed that the Buyer may do so, a V Lot
will not be released until the cheque has cleared and
other Lots may not be released until the cheque has
been cleared.
18.6 No Lot may be collected until the full Purchase
Price has been received by the Company unless prior
arrangements in writing have been made with the
Company before the date of the Sale, provided always
that ownership of the Lot will not pass to the Buyer until
cleared funds in payment of the full Purchase Price have
been received by the Company.
19. Collection of Purchases
All Lots must be paid for and collected by the second
day after the Sale unless otherwise stated in the
Catalogue. The Buyer shall be responsible for any
removal, storage, or other charges for any Lot after this
day.
20. Responsibility for Lots purchased
20.1 The Buyer shall be responsible for any loss or
damage to, or caused by, a Lot purchased by the Buyer
from the fall of the Auctioneer's hammer and neither
the Company nor its employees or agents shall be
responsible for any Claim while the Lot is in its power,
possession or custody, except where the Company
(and its employees or agents) has not acted with due
care and skill.
20.2 Unless expressly stated in a Catalogue, the
Company has no knowledge of whether a V Lot
complies with the provisions of any road traffic or
maritime Acts and Regulations. The Buyer of a V Lot
who intends to use it on a public road or waterway
shall be responsible for ensuring that it complies with
the provisions of any road traffic or maritime Acts and
Regulations.
20.3 The Buyer shall be solely responsible for
obtaining any export licence that may be required in
connection with a purchased Lot.
20.4 The Buyer of a firearm must obtain any
certificates and licences required by law. The Company
may refuse delivery of a Lot to a Buyer without evidence
of compliance by the Buyer.
21. Non-payment or failure to collect
21.1 If the Purchase Price in respect of a Lot is not paid
for in full in accordance with clause 18, the Company
may, after a period of two weeks (during which time the
Company will attempt to contact the Buyer), and in its
absolute discretion and without prejudice to any other
rights or remedies it may have, exercise one or more of
the following remedies:
(a) re-sell the Lot without reserve by auction, private
treaty or any other means provided that 2 days prior
notice is given to the Buyer who agrees not to challenge
the resale price achieved in respect of the Lot;
(b) remove, store and further insure the Lot at the
expense of the Buyer;
(c) charge interest on the Purchase Price at the rate
of l.65% per month or part thereof from the date upon
which the Purchase Price becomes payable until the
full Purchase Price has been received by the Company
from a resale;
(d) retain any Lot sold to the Buyer at the same or any
other auction until payment of the Purchase Price by
the Buyer;
(e) apply the proceeds of the Sale of any Lot then due
or at any time thereafter becoming due to the Buyer in
payment or part payment of the Purchase Price;
(f) exercise a lien on or exercise a power of sale
over any other property of the Buyer in the power,
possession or control of the Company;
(g) rescind the Sale of that Lot or any other Lot sold by
the Seller to the Buyer at the same or any other auction
sale;
(h) repossess any goods comprising any Lot in respect
of which payment is overdue and thereafter resell the
same, and for this purpose the Buyer hereby grants an
irrevocable licence to the Company to enter upon all
or any of the Buyer's premises (with or without vehicles)
during normal business hours, without prejudice to any
other rights of the Company;
(i) issue legal proceedings against the Buyer;
(ii) reject a bid from the Buyer at any future auction
sale or require the Buyer to pay a deposit before any
bid is accepted by the Company at any future Sale.
21.2 If the Lot is not collected in accordance with
clause 19, the Company may, after a period of two
weeks (during which time the Company will attempt to
contact the Buyer), and in its absolute discretion and
without prejudice to any other rights or remedies it may
have, exercise one or more of the following remedies:
(a) remove, store and further insure the Lot at the
expense of the Buyer;
(b) rescind the Sale of that Lot or any other Lot sold by
the Seller to the Buyer at the same or any other auction
sale.
21.3 The Buyer shall pay all reasonable legal and
other costs reasonably incurred by the Company or
the Seller (whether or not Court proceedings shall have
been issued) as a result of the Buyer's non-payment for
and/or failure to collect a Lot, on a full indemnity basis,
together with interest thereon at the rate specified in
clause 21.1(c) from the date upon which the Buyer shall
have become liable to pay costs.
22. Absentee or commission bids
22.1 An absentee bidder may make an absentee
bid in the form of written instructions directing the
Company to bid on one or more Lots up to a maximum
amount specified for each Lot. The Company will
execute the absentee bid at the lowest possible price
taking into account the Agreed Reserve and other bids.
There is no charge for this service. If identical bids
are left by two or more parties, the first bid received
by the Company will take preference. The Auctioneer
may execute bids for absentee bidders directly from
the rostrum, clearly identifying these as absentee or
commission bids.
22.2 The Company is prepared to execute telephone
bids on behalf of prospective Buyers who are not at the
auction on the condition that the prospective Buyer
acknowledges that taking instructions by telephone
in the course of an auction has inherent risks (such
as miscommunication, misunderstanding or other
problems caused by a telecommunications fault or
failure including a mobile telephone connection falling
out). The Company reserves the right to charge for this
service.
22.3 The Company shall not be responsible for any
errors or omissions in connection with the execution of
absentee or telephone bids.
23. GST
23.1 Interpretation
Words or expressions used in this clause 23 that are
defined in A New Tax System (Goods and Services Tax)
Act 1999 have the same meaning.
23.2 GST and amounts payable to the Company:
(a) All amounts owing by the Seller to the Company
(including, without limitation, the Seller's Commission,
the Offer Fee, the Insurance Fee, and Expenses) under
this agreement do not include GST. If and to the extent
that any amount owing by the Seller to the Company is
consideration for a taxable supply by the Company, the
amount shall be increased by an amount equal to the
GST payable by the Company on that supply.
(b) All amounts payable by the Buyer to the Company
under this agreement (including, without limitation, the
Premium) do not include GST. If and to the extent that
any amount payable by the Buyer to the Company is
consideration for a taxable supply by the Company, the
Buyer must pay to the Company, an additional amount
equal to the GST payable on the supply.
23.3 GST and amounts payable to the Seller
(a) The Seller must, on or before the date of the Sale,
notify the Company whether it is registered for GST,
and if so, must provide its ABN to the Seller at the same
time.
(b) If the Seller notifies the Company that it is
registered for GST in accordance with clause 23.3(a):
(i) the Seller authorises the Company as its agent, to
issue a tax invoice to the Buyer in respect of the Sale of
any Lot which is a taxable supply; and
(ii) on payment of the Sale Proceeds to the Seller in
accordance with clause 10, the Company will:
(A) notify the Seller of the amount of GST included
in the Sale Price for the Lot to enable the Seller to
determine its GST liability on the Sale; and
(B) give the Seller a tax invoice for any taxable
supply made by the Company to the Seller under this
agreement (including, without limitation, any supply
for which the Seller's Commission, the Offer Fee,
the Insurance Fee, and Expenses are consideration)
including any amounts payable on account of GST in
accordance with clause 23.2(a).
23.4 GST on sale of Lot to Buyer
(a) The Sale Price is inclusive of GST (if any) and shall
not be increased any further for any GST payable by the
Seller in respect of the Sale.
(b) If the Seller has informed the Company that it is
registered for GST in accordance with clause 23.3(a),
the Company will, upon request by the Buyer or
otherwise at its discretion, issue a tax invoice to the
Buyer showing:
(i) the amount of GST included in the Sale Price; and
(ii) any amounts payable by the Buyer to the Company
in consideration for any taxable supply made by the
Company to the Buyer under this agreement and any
GST payable on the supply in accordance with clause
23.2(b).
(c) If the Seller does not inform the Company that it
is registered for GST in accordance with clause 23.3(a),
the Sale will be presumed not to be a taxable supply,
and the Company will only issue a tax invoice for any
taxable supply made by the Company to the Buyer
under this agreement (including, without limitation, any
taxable supply for which the Premium is consideration
and any amounts payable on account of GST payable
on that supply in accordance with clause 23.2(b)).
(d) A Buyer of a Lot sold by a GST registered Seller
that is subsequently exported from Australia may be
able to claim a refund from the Company for any GST
included in the Sale Price of a Lot if, within 60 days of
the Sale, the Buyer provides the Company with:
(i) all relevant shipping documents confirming that
the goods have been exported from Australia; and
(ii) evidence to the reasonable satisfaction of the
Company that the Buyer is not registered or required
to be registered for GST in Australia.
However, the Company need not refund any GST
amount to the Buyer under this clause, unless and until
it receives a refund of this amount from the Seller.
23.5 Obligations of non-resident Sellers
(a) This clause 23.5 only applies to Sellers that are nonresidents
of Australia.
(b) The Seller must, on or before any Lot is imported
into Australia for Sale, notify the Company as to:
(i) whether the Seller will be selling the Lot in the
course of carrying on an enterprise; and
(ii) whether the Seller is registered for GST in Australia.
(c) The Seller acknowledges and agrees that the
Company has the right to deduct and retain from the
Sale Proceeds, an amount equal to any GST for which
the Company is or becomes liable to pay in respect
of the importation or Sale of a Lot, including, without
limitation, any GST payable pursuant to Division 57 of
the GST Act.
23.6 Reimbursements (net down)
If a payment to a party under this agreement is a
reimbursement or indemnification, calculated by
reference to a loss, cost or expense incurred by that
party, then the payment will be reduced by the amount
of any input tax credit to which that party is entitled on
the acquisition of the taxable supply to which that loss,
cost or expense relates.
24. Currency converter
The Company may provide a currency converter
for the convenience of bidders. The rates quoted
for conversion of other currencies to Dollars (or the
currency in which the relevant Sale is conducted) are
indicative only and neither the Company nor its agents
shall be responsible for any errors or omissions in the
converter.
25. Governing Law and Jurisdiction
25.1 These Conditions are governed by and shall be
construed in accordance with the law of the State in
which the Sale is conducted ('Sale State').
25.2 The Company, the Seller, the Buyer and any
bidders at the Sale irrevocably and unconditionally
submit to the exclusive jurisdiction of the courts of the
Sale State.
26. Notices
26.1 A notice, demand, consent or approval or
communication under these Conditions ('Notice') must
be:
(a) in writing, in English, and signed by a person duly
authorised by the sender; and
(b) delivered by hand or sent by prepaid post, and by
airmail when sent to a destination outside Australia, or
facsimile or email to the recipient's address as varied by
any Notice given by the recipient to the sender.
26.2 A Notice given in accordance with clause 26.1
takes effect when it is taken to have been received (or at
a later time specified in it), and is taken to be received:
(a) if hand delivered, on delivery;
(b) if sent by facsimile, on receipt by the sender
of the transmission report at the conclusion of the
transmission;
(c) if sent by mail, two days after the date of posting
if posted to an address within the country of posting
and seven days after the date of posting if posted to a
country outside Australia; and
(d) if sent by email, at the time of transmission unless
the sender is notified that the email was undeliverable.
26.3 In proving service by delivery:
(a) by hand, it shall be necessary only to produce a
receipt for the communication signed by or on behalf
of the recipient;
(b) by facsimile, it shall be necessary only to produce
the confirmatory transmission report;
(c) by post, it shall be necessary only to prove that the
communication was contained in a pre-paid envelope
which was duly addressed, posted and, in the case
of the Notice being sent to a destination outside
Australia, was sent by airmail; and
(d) by email, it shall be necessary only to prove that the
communication was sent to the correct email address.
27. General provisions
27.1 The non-exercise of or delay in exercising any
power or right of a party does not operate as a waiver
of that power or right, nor does any single exercise of a
power or right preclude any other or further exercise of
it or the exercise of any other power or right. A power
or right may only be waived in writing, signed by the
party to be bound by the waiver.
27.2 These Conditions constitute the entire
agreement of the parties on the subject matter.
All representations, communications and prior
agreements, to the extent they are not misleading or
deceptive, in relation to the subject matter are merged
in and superseded by these Conditions.
27.3 The parties agree that, if the whole or any
part of any one or more provisions is judged invalid
or unenforceable, that portion will be deemed to be
deleted and will not affect the validity or enforceability
of the remaining provisions.
27.4 Neither party shall be liable for any loss or
damage or be deemed to be in breach of these
Conditions if its failure to perform or failure to cure
any of its respective obligations hereunder results
from any event or circumstance beyond its reasonable
control. The party interfered with shall give the
other party prompt written notice of any such force
majeure condition. If notice is provided, the time for
performance or cure shall be extended for a period
equal to the duration of the force majeure event or
circumstance described in such notice, except that any
such cause shall not excuse the payment of any sums
owed to the Company prior to, during, or after any such
force majeure condition.
28. Privacy Statement
In our dealings with vendors and buyers it is necessary
to collect personal information such as:
(a) Your Name;
(b) Your Company name and ABN;
(c) Your residential address;
(d) Your business address;
(e) Your email address;
(f) Your facsimile number;
(g) Your telephone numbers;
(h) Your Drivers Licence details;
(i) Your credit card details; and
(j) Your bank account details.
When you provide us with your personal information,
we rely on the accuracy of that information. To assist
with the accuracy please contact us immediately if any
of the details provided have changed. We will only use
your personal information for the purpose for which
you have provided it unless you otherwise consent.
We will not disclose your personal information to third
parties unless you consent or where such disclosure is
required or authorised by law.
We will at your request provide access to the
information we hold about you for the purpose of
correcting or updating that information. We will store
your information in a manner that ensures security
against unauthorised access, alteration or deletion at a
level commensurate with its sensitivity.
29. Resale Royalty
The Seller:
(a) acknowledges that he or she understands his
or her legal obligations under the Resale Royalty for
Visual Artists Act 2009 (the Act);
(b) undertakes to comply with all requirements of the
Act, including by providing its agent, the company,
with accurate information sufficient for compliance
with sections 28 and 29 of the Act;
(c) undertakes to indemnify the company for any
loss incurred by the company as a result of the
Seller's failure to comply with any of the Seller's legal
obligations under the Act; and
(d) acknowledges that if he or she fails to comply
with any of his or her legal obligations under the
Act, the company may provide the Seller's name and
contact details to Copyright Agency Limited (CAL).

Auction House does NOT ship

(as of September 2014)

A. General Terms and Conditions - Auctions
B. General Terms and Conditions - Online Shop
C. Terms and conditions for obtaining a valuation
D. Glossary

- jointly referred to as : Terms and conditions -

of Auctionata AG,
Franklinstr. 13,
10587 Berlin, Germany,

represented by its Board Directors:
Alexander Zacke, Georg Untersalmberger, Jan Thiel, Susanne Zacke and Christof
Schminke

Chairman of the Supervisory Board: Dr. Christian Nagel
Company Registration Number HRB 155814 B ,
Registry Court: Local Court Berlin-Charlottenburg,
Value Added Tax ID No. DE 295683843

This text is only a translation from the German language. In case of doubt, the German version applies. The contractual language shall be German.

1. Preamble

Auctionata is an auction house which offers high-quality goods on the Internet. They are
auctioned off or offered for direct sale in the Online Shop. All auctions are transmitted in
real time via streaming technology. Auctionata offers second-hand goods from the fields of
art and antiques as well as sculptures, decorative art and design of the 20th century,
jewellery, rugs, memorabilia, collector's items, oriental artworks, tribal art, textiles, Islamic
art, postcards, paintings, works on paper and graphic prints, numismatics, postage stamps,
silver, porcelain, glass and ceramics, contemporary art and photography, rare wines and
liquors, antique books, autographs, placards, vintage fashion, accessories, musical
instruments, watches, vehicles, coins and many other luxury goods.
Moreover, Auctionata offers valuations of second-hand art items and luxury goods.

Integral parts of this Terms and Conditions shall be the Overview of Fees in their currently valid version as well as the tabular listing of the increments specified by Auctionata.

Important:

Please note that this website allows you to purchase goods from Auctionata Beteiligungs AG or Auctionata, Inc. - a wholly owned US subsidiary of Auctionata Beteiligungs AG. Both organizations operate with different Terms and Conditions.

Before any purchase via this website you will have to take notice and have to accept the respective Terms and Conditions which apply for your purchase!

The Terms and Conditions below apply for all purchases of goods at auction or via the online shop in which Auctionata Beteiligungs AG acts as the seller.

For all purchases of goods at auction or via the online shop in which Auctionata, Inc. acts as the seller, these terms and conditions apply.

The transaction details can be determined from information on the lot detail page.

A. General Terms and Conditions - Auctions

1. General provisions

1.1 All offers, purchase agreements, deliveries and services based on and in connection with auctions organized by Auctionata, including through the www.auctionata.com website or any other website operated by Auctionata (hereinafter "auctions") shall be governed by these General Terms and Conditions.

1.2 In the auctions, Auctionata sells items on consignment, i.e. Auctionata assumes the role of seller for the owner of the items (hereinafter "Consignor") by selling items in its own name on behalf of the owner ("Commission-based Transaction"). Auctionata holds an official authorization for auctioneering according to Section 34b German Industrial Code (GewO).

1.3 The auctions are public auctions according to Sections 474 Paragraph 2 Sentence 2, 312g Paragraph 2 Nr. 10 German Cívil Code (BGB). A right of revocation does not apply for purchase agreements closed with the fall of the hammer.

1.4 Our offerings are intended merely for consumers and business persons who have turned 18 years of age, i.e. only for adults. In the event that the customer only then becomes an adult after turning 18 years of age in the country where he resides, then the customer may only then register when he is considered to be an adult in the country where he resides. The offering and sale of alcohol are directed solely to persons who have reached the age required under law at their residence for the purchase of alcohol. The handover of bought alcohol happens only, if the recipient shows the proof of the age required under law before the handover.

1.5 Auctionata reserves the right to exclude customers from an auction if their residence/delivery address is located in a country in which the goods that are being offered cannot be imported and Auctionata has knowledge of this and if doubt exists about the customer's identity or his creditworthiness.

1.6 Auctionata reserves the right to limit the number of goods which a customer may acquire. Thus, for example, it may be demanded that acquired goods must be paid for before the customer may continue to bid or buy.

1.7 The customer's general terms and conditions shall not apply, even if Auctionata has not expressly rejected these in individual cases.

1.8 Auctionata may employ third parties as vicarious agents for the purpose of fulfilling the Agreement. The customer hereby consents to this in advance.

1.9 Employees of Auctionata are not allowed to bid at auctions by Auctionata or to buy goods for auctions, which are entrusted to Auctionata (cf. Section 34b Paragraph 6 Number 2 Alternative 2 German Industrial Code (GewO)).

2. Sale by Auction

2.1 Auctions operated by Auctionata are based upon the English auction model. With this auction form, the price is successively increased by the submission of at least one bid above the starting price.

2.2. Auctionata will hold the auction at its own discretion. An auctioneer will conduct the auction for Auctionata in the auction room and is in charge of the proceedings. He or she will conduct the auction, read out the auction announcements (at the beginning of the auction) and accept the winning bid. The auctioneer will accept the winning bid in accordance with his/her duties at his discretion in all cases.

If the auctioneer makes the decision to end the auction, then he shall count off the following phrase to all persons who have entered the virtual auction room "Highest bid going once…, highest bid going twice…., highest bid going thrice…". Then the current bid price shall be announced by the auctioneer. The auctioneer may only then announce the acceptance of the winning bid if no higher offer has been submitted after the highest bid is repeated three times.

2.3 Auctionata requires consent to these Terms and Conditions and the announcement before the participation in an auction.

3. Auction catalog and viewing

3.1 The items presented in the auction catalog can be viewed by customers for at least two hours at Auctionata's premises by appointment.

3.2 Goods to be sold at Auction will be presented in an auction catalog (at least two weeks before the Auction). The lot number, estimated value and starting price for each item will be listed here.

3.3 Our customers shall have no entitlement to bid for particular items presented in the auction catalog because the items are presented subject to the proviso that an owner may withdraw his items up until the start of the Auction. Furthermore, Auctionata shall be entitled to withdraw items from the auction before the winning bid is accepted without stating reasons.

3.4 Auctionata shall be entitled to conduct the Auction in a different order to the order of the lot numbers as stated in the auction catalog. Auctionata shall further be entitled to offer several items shown separately in the auction catalog together as one lot, or to divide a lot containing several items.

4. Participation in an Auction

4.1 As a rule, items can be purchased at auction by participating in the auction in Auctionata's auction room. The customer may participate in an auction in person through his presence in the Auctionata auction room, (although the number of participants may be limited by Auctionata,) or may be represented at the auction. The customer may also participate in the auction via means of communication such as letter, fax, telephone, email, or his user account on the Auctionata website.

4.2 Online absentee bids, written purchase orders and bids by telephone shall constitute a commissioning of Auctionata by the customer to place bids on his behalf and to enter into a purchase agreement with Auctionata if he places the winning bid. In this respect, the customer authorizes Auctionata to place bids on his behalf and to enter into the purchase agreement resulting from the winning bid. In this respect, Auctionata is granted an exception from the provision of Section 181 of the German Civil Code (BGB) by the customer.

a) The following shall apply to online absentee bids and written purchase orders (together referred to as "purchase orders" or referred to singularly as "purchase order"):

Auctionata shall remain free to reject requests or to cancel accepted requests up until the winning bid is accepted at its own discretion
Commissioning shall always be restricted to the item specified in the order form (in accordance with the specified lot number) and the specified maximum purchasing limit (i.e. the maximum price to be bid)
The maximum purchasing limit must not be lower than the starting price. The maximum purchasing limit will only be exhausted if there is another bidder. If no one else bids on the relevant item, the customer's bid will automatically be accepted at the starting price. To clarify: The specified maximum purchasing limit relates only to the purchase price excluding the buyer's premium, contribution to the resale royalty right , shipping and shipping insurance costs and statutory VAT; Auctionata shall charge extra for these in accordance with figure 8.1
The order form may not be used to communicate other messages to Auctionata going beyond the distinct purchase order. Under no circumstances will Auctionata take messages of this kind noted on purchase orders into account. Auctionata reserves the right to reject the purchase order in such cases
The customer may cancel the purchase order in writing (fax, letter, email) up to 72 hours before the auction begins without citing reasons. Such cancellation is permissible up to 72 hours before the auction begins. Cancellation later than 72 before the auction begins, or after the auction has begun, is excluded in principle; it may be permitted in individual cases at the discretion of Auctionata, however. In cases of cancellation, Auctionata shall be entitled to charge an administration fee in accordance with the schedule of fees for the Auction for each item specified in the purchase order. The customer reserves the right to provide evidence of lower damages.
If, despite having submitted a purchase order, the customer wishes to bid in the Auction simultaneously by using his user account or by telephone, for example, he or she must inform Auctionata of this in writing (fax, letter or email) at least 24 hours before the start of the Auction. If the customer does not comply with his announcement, Auctionata shall be entitled to carry out the order as stipulated in the order form. If the customer made such notification towards Auctionata, but actually does not perform accordingly meaning does not bid at auction, Auctionata shall be entitled to treat the notification as a cancelation of the purchase order with the related costs.

b) The following shall apply to bids by telephone:

Auctionata shall remain free to reject requests or to cancel accepted requests up until the winning bid is accepted at its own discretion
Commissioning shall always be restricted to the item specified in the order form (in accordance with the specified lot number)
Auctionata will contact the customer by telephone before the items specified in the order form are auctioned using the contact details provided by the customer. If Auctionata is unable to make contact, despite having made three attempts to do so, Auctionata will implement the order concerning the items specified in the order form in the same way as a written purchase order, i.e. Auctionata will place bids up to the starting price. If no one else bids on the relevant item, the customer's bid will automatically be accepted at the starting price. To clarify: The winning bid at the starting price relates only to the purchase price excluding the buyer's premium, contribution to the resale royalty right, shipping and shipping insurance costs and statutory VAT; Auctionata shall charge extra for these in accordance with figure 8.1.
During the telephone conversation, the telephone bidder must state that he or she accepts these general terms and conditions and has acknowledged the auction announcements. The conversation may be recorded by Auctionata for documentation purposes; the caller will be informed of this in advance. Auctionata reserves the right to reject bids placed by telephone or to make the consideration of a bid conditional upon the payment of a deposit or a creditworthiness check
The customer may cancel the purchase order in writing (fax, letter, email) up to 72 hours before the auction begins without citing reasons. Such cancellation is permissible up to 72 hours before the auction begins. Cancellation later than 72 before the auction begins, or after the auction has begun, is excluded in principle; it may be permitted in individual cases at the discretion of Auctionata, however. In cases of cancellation, Auctionata shall be entitled to charge an administration fee in accordance with the schedule of fees for the Auction for each item specified in the purchase order. The customer reserves the right to provide evidence of lower damages.

4.3 During the auction, bids from customers present in the auction room, but also bids placed via communication means such as letter, fax, telephone, email or the user account on Auctionata's website will be considered, which may result in a bidding process between the bids placed in the auction room and the written purchase order placed, for example, but also between two written purchase order or a bid placed by telephone or via the user account on Auctionata's website.

Auctionata reserves the right to do not to accept bids or bids or to make the consideration of a bid dependent upon a down payment and/or the provision of security or credit report information.

4.4 Only verified customers are allowed to participate in an auction.

4.5 In the case that technical problems prevent the continuation of an already running auction the following shall apply:

All winning bids that were made before the arising of the technical problems shall remain valid.
All items from a weekly auction which have not yet been auctioned off shall be auctioned off at a later point in time.
If a special auction is affected, the auction shall be continued at a later point in time. All persons who were in the auction room at the time that the auction was suspended or have used communication means such as letter, fax, telephone, email or the user account on Auctionata's website shall be notified of the new time for the auction in writing via email and the time for the new auction shall be published one week in advance on the websitewww.auctionata.com or any other website operated by Auctionata.

5. User account

5.1 A user account can be set up free of charge and does not oblige the user to participate in an auction. No entitlement to a user account shall exist. A user account allows a customer to submit simultaneously bids in an Auction via the internet. Additionally, it allows a customer to submit online absentee bids via the internet.

5.2 In order to set up a user account, the following data must be provided truthfully by the customer:

Surname, First Name
Email address
Residential address (or deviating shipping address)
Telephone number

Every change of the above mentioned data has to be reported without request via email, fax, letter or by telephone to Auctionata. The user account for a legal identity has to be registered by its legal representative. The user account is personal which means that only individuals are allowed to create the user account and only the registered person is allowed to use it. The user account is not transferrable.

5.3 The customer must specify a password for his user account. The password must be kept secret and reasonable measures must be taken to prevent non-authorized use.

5.4 If there are indications that a customer is infringing laws, rights of third parties or Auctionata's General Terms and Conditions, Auctionata shall be entitled to temporarily block the user account or to delete it permanently. The above shall also apply even in the event that Auctionata has another legitimate interest in the deletion of the user account. This shall be the case particularly if fraudulent activities have taken place. In the event that the user account has been blocked or deleted, the respective owner is prohibited from using Auctionata's services via a user account. In particular, this includes setting up and using a new user account.

5.5 A client may have deleted his user account at any time by asking Auctionata's Customer Service Division to delete it. The Customer Service Division shall delete the data within three working days.

5.6 During the live auction, the current high bidder will be shown to the auction audience. Visible will be the country of residence, the bidding paddle number and the first name of the user. The first name will be anonymized upon request of the user.

6. Verification

6.1 Before the participation in an auction, Auctionata verifies the persons who want to participate in it. Auctionata is therefore entitled to verify the identity of a customer before his participation in an auction. Customers are verified, if their identity has been proven towards Auctionata. This is especially the case, if:

Customers have concluded a consignment agreement with Auctionata,
Customers have already purchased goods in the Online Shop and have paid and accepted the items or have picked up items subject to the presentation of an ID,
Customers are personally known to Auctionata,
Customers have been verified by means of a copy of an ID, via credit card, via a credit agency or via the provision of security and/or bank information and, as required, also can document their credit reference.

6.2 Auctionata is entitled at any time to make each bidding process dependent upon the provision of security, bank information, information from a credit agency or via the blocking of a certain volume of the credit card limit.

7. Formation of the purchase agreement

7.1 Each bid relating to an item constitutes an offer to enter into a purchase agreement and is therefore legally binding. The purchase agreement concerning an item offered shall be formed and binding when the winning bid is accepted. Placing the winning bid shall oblige the customer to pay the purchase price and to accept the item.

7.2 In order to be effective, bids must correspond with the bidding increments stipulated by Auctionata. The increments specified by Auctionata in the bidding increments table shall form an integral part of these General Terms and Conditions. If a bid does not correspond with the increments specified by Auctionata in the bidding increments table, Auctionata shall be entitled to round down the bid to the next lowest bidding increment for it to be effective.

7.3 The priority principle shall apply when considering bids, i.e. if there are two bids of equal value, the earlier bid will always be considered. If two bids of equal value are placed at the same time, lots will be drawn to decide which bid has priority.

7.4 Auctionata shall be entitled to overturn a winning bid after it has been accepted and to continue the auction of the item if there is doubt as to the identity of the offer or, or other doubt concerning the winning bid. If it is established after the winning bid has been accepted that the purchase agreement with the highest bidder is to be rescinded because he or she is not able to pay for the auctioned item, Auctionata shall be entitled at its own discretion to offer the goods to the underbidder in writing at the last price offered by him or her (email shall suffice). Auctionata shall be bound by the offer for five days. The offer must be accepted in writing by fax, email, letter or by telephone.

7.5 The winning bid will be accepted after the auctioneer has said: "Going once for …, going twice for …, going three times for …, sold!" The auctioneer will state the current purchase price each time. The auctioneer will accept the winning bid if no higher bid has been placed after the highest bid has been announced three times.

7.6 Auctionata is entitled at its own discretion to reject bids from a bidder during the auction where it has reasons to presume a lack of seriousness, and to ask bidders to pay for the items they have already purchased or to pay a deposit before allowing them to bid on other items.

7.7 The bidder bids and purchases in his own name and for his own account. He or she may be represented by a representative, however, after giving notice in writing (email, fax or letter).

7.8 The items will be offered and auctioned in their condition when the winning bid is accepted.

7.9 Auctionata shall be entitled to accept the winning bid under reserve, if the highest bid on an item is below the item's minimum selling price agreed on with its consignor ("limit agreement"). In the case of placing the winning bid under reserve, the validity of the purchase agreement (cf. Clause 7.1 of the Terms and Conditions) is dependent on the condition that the consignor approves the sale at hammer price within a period of 8 (eight) days after the auction. If the consignor does not approve the sale at hammer price within the aforementioned period, a valid purchase agreement has not been established. In this case, the highest bidder will be notified. If a limit agreement has been concluded on an item, Auctionata will mark the item on the product page with the text note "limit agreement".

8. Prices

8.1 On top of the purchase price determined by the winning bid, Auctionata will charge the buyer's premium, contribution to the resale royalty right (where applicable), shipping and shipping insurance costs and for any additional services statutory VAT. Therefore, bids placed for items during an auction shall always relate to a price excluding the buyer's premium, contribution to the resale royalty right, shipping and shipping insurance costs and statutory VAT. The same applies to the prices stated in the auction catalog. Further information about the purchase price can be found in the List of Fees for Buyers, whereupon the respective current version shall apply.

8.2 Further information about shipping and shipping insurance costs can be found in the List of Fees for Buyers, whereupon the respective current version shall apply. These costs shall not apply if collection of the goods has been agreed to in writing (email shall suffice) with Auctionata in exceptional cases.

Deliveries to non-EU countries are subject to additional custom duties and import tax. Further Information to custom duties and import tax can for example be found here:

http://www.zoll.de/DE/Home/home_node.html;jsessionid=BA5864B4CA08BA56593274FD649E3105

8.3 The contribution to the resale royalty right refers to the legal obligation for the resale royalty in case of the resale of fine arts and photographs in the art market. The goods affected will be labeled accordingly in the auction catalog. Further information about the contribution to the resale royalty right can be found in the List of Fees for Buyers, whereupon the respective current version shall apply.

9. Taxation

4.1 As a rule, value-added tax will be applied using the "taxation on the margin" scheme pursuant to Section 25a German Value-Added Tax Act (UStG) (margin scheme re Articles 313, 326 or 333 of the EC VAT Directive 2006/112/EC). In other words, the legally mandated rate of VAT will be applied only to the following components of the "purchase price" as defined under Clause 3.1: the buyer's premium, the resale rights tax, and the costs of shipping/transport insurance. "Taxation on the margin" is a special type of tax treatment provided by law for commerce in used merchandise. In this case, the amount of VAT will not be separately itemized on the invoice. Thus, no deduction of input tax will be possible.

4.2 The Buyer may explicitly request that, in deviation from Clause 4.1, VAT be applied to the invoice in the standard manner. The amount of VAT due will then be assessed based on the total invoice amount and separately itemized on the invoice. Deduction of input tax will be possible in this case.

4.3 Taxation on the margin pursuant to Clause 4.1 above may not be applied to goods marked as subject to "standard taxation" in the Online Shop (i.e. goods consigned subject to standard VAT, goods imported from a non-EU country from a tax perspective). In this case, the legally mandated rate of VAT will be included in the invoiced price.

4.4 For deliveries to the rest of the Community Territory of the EU (intra-Community deliveries), businesses may request a VAT-exempt invoice pursuant to Section 6a German Value-Added Tax Act (UStG) by providing their VAT ID number to prove their commercial status.

4.5. For deliveries outside the European Union (export deliveries to a Non-EU Country from a tax perspective), the Buyer may request the issuance of a VAT-exempt invoice in accordance with Section 6 German Value-Added Tax Act (UStG). The purchaser will be responsible for paying tax and customs duties on the delivered goods in accordance with local regulations in the destination country.

10. Warranty; condition

10.1 The warranty period for consumers will be two years from the date of delivery of the item. For business owners and for purchasers of a used item, the warranty period will be one year from the date of delivery of the item.

10.2 An item's auction catalogue description will define the characteristics contractually agreed for that item insofar as the catalogue description relates to the item's authorship, manufacturer, date of manufacture/creation, technique of fabrication or affixed signature. The information provided on the item's provenance, by contrast, will be expressly excluded from the contractually agreed characteristics. If an announcement made in connection with an auction contains representations regarding an item's authorship, manufacturer, date of manufacture/creation, technique of fabrication and/or affixed signature and these representations deviate from the corresponding catalogue description, then the announcement will prevail in this regard. If, during an auction, the auctioneer makes oral representations regarding an item's authorship, manufacturer, date of manufacture/creation, technique of fabrication and/or affixed signature and said representations deviate from the corresponding catalogue description, then the auction catalogue will invariably prevail. If, during an auction, an expert not employed by Auctionata makes oral representations regarding a given item, then these are to be regarded as personal opinions/appraisals of the expert for which Auctionata assumes no liability.

10.3 Since items offered at auction are generally used items, their individual condition will specifically include signs of prior usage and other traces of age. Thus, a given item's actual and individual state of conservation - as shown and described in the auction catalogue - will be deemed to form part of its contractually agreed characteristics. Insofar as the auction catalogue describes an item as exhibiting blemishes, damage and/or defects which no longer correspond to the normal condition of a used item and which are likely to fundamentally reduce the value of the item, then this information will also be deemed part of the contractually agreed characteristics, so that no warranty will be assumed in this regard. The prospective purchaser will have the option to view items before an auction in accordance with Clause 3.1.

10.4 Deviations between an item's actual shade of color and the one shown in the auction catalogue, insofar as they result from the photographic techniques used (e.g. lighting and/or sharpness of the image) or from the manner in which the item is pictured in the auction catalogue, will be deemed immaterial and will not represent a defect. This will not apply, however, if the deviation in color is due to negligence on the part of Auctionata.

10.5 If an item's catalogue description explicitly includes a caveat or restriction regarding the reliability of the information provided, then said information will not form part of the agreed characteristics. In this case, the purchaser will purchase the item at his own risk as far as the information in question is concerned. If a catalogue description explicitly refers to an item as a "copy" (e.g. as a "museum copy"), then the item in question will be deemed purchased as a copy and not as an original, thereby precluding any warranty for defects in this regard. If the catalogue description explicitly describes or designates an item as being "of doubtful authenticity", then said item will be deemed purchased not as an original but as an "item of doubtful authenticity", thereby precluding any warranty in this regard. Inasmuch, neither the starting auction price nor the final hammer price of an item can be used to draw inferences about the actual characteristics or authenticity of that item.

10.6 The transaction will be unwound in accordance with the relevant statutory regulations. Accordingly, each Party must first of all return any benefits it has received under the contract. In other words, Auctionata must reimburse the purchaser for the purchase price paid, while the purchaser must return the purchased item(s) to Auctionata. A different procedure will be followed in the event that an item returned by the purchaser has deteriorated or perished in the meantime, whereby deterioration resulting from the item's proper use will be disregarded. In this case, the debtor must,as a rule, pay compensation for the item's value in lieu of returning it (cf. Section 346 Paragraph 2 Number 3 German Civil Code (BGB)). The item's purchase price will be used as the basis for calculating its replacement value. The relevant statutory warranty regulations will also apply in this context; this means, for example, that the purchaser may also demand abatement of the purchase price.

10.7 If, based on the foregoing provisions, a situation arises in which the purchaser is not entitled to any warranty claim, whereas Auctionata is entitled to claims against the consignor, then Auctionata will be obligated to assert its claims against the consignor. If such claims are asserted successfully, the purchaser will be entitled to receive disbursement of the sums recouped up to the amount of the purchase price.

11. The Auctionata Guarantee

11.1 In accordance with the guarantee declaration set forth below in this Clause 11 ("Auctionata Guarantee"), Auctionata guarantees that the descriptions provided in the auction catalogue correspond to the generally recognized state of technical/scientific knowledge publicly available at the time of the item's purchase with respect to the following agreed characteristics:

a) the identity of the artist or manufacturer; and
b) the time of creation or manufacture of the item.

If any of the above elements of an item's catalogue description are provided subject to a caveat, or are identified as having been determined by external experts not employed by Auctionata, or are missing from the catalogue description altogether, then the information in question will not be covered by the Auctionata Guarantee. The Auctionata Guarantee applies only to the information referenced above under a) and b), but not to any other information, e.g. regarding the item's provenance, technique of fabrication, serial classification, numbering or edition.

11.2 If a catalogue description explicitly refers to an item as a "copy" (e.g. as a "museum copy"), then the item in question will be deemed purchased as a copy and not as an original, and will thus not be covered by the Auctionata Guarantee in this respect. Likewise, if the catalogue description explicitly describes or designates an item as being "of doubtful authenticity", then said item will be deemed purchased not as an original but as an "item of doubtful authenticity" and will thus not be covered by the Auctionata Guarantee in this respect.

11.3 The Auctionata Guarantee will apply for a period of 25 years from the time of handover of the purchased item. After this deadline, all claims under the Auctionata Guarantee will lapse. The purchaser must notify Auctionata in writing about any warranty claim within 6 months of the claim's discovery, while also providing legitimate grounds for the claim along with reliable, supporting documents or a reputable expert opinion. If he fails to comply with the foregoing, the purchaser will lose recourse to the rights granted under the Auctionata Guarantee.

11.4 In the event of a dispute between Auctionata and the purchaser about whether or not a guarantee event has occurred, an expert arbitrator will decide the dispute. Legal action may not be initiated over a dispute - nor any related claims asserted - until after the expert arbitrator has issued his opinion or, in the case of legal proceedings in accordance with Section 319 German Civil Code (BGB) German Civil Code), until after said proceedings have been concluded in a conclusive, non-appealable manner. Either Party will be entitled to make a written request for the appointment of an expert arbitrator, whereupon the Parties will have 4 weeks to agree on who will serve as arbitrator. If the Parties fail to reach agreement within this time, either Party will be free to make a written demand that the expert arbitrator be appointed by the Bundesverband der Kunstsachverständigen e.V (German Federation of Art Experts) or by some comparable organization. The expert arbitrator must be a publicly appointed and sworn expert in the field of fine art. The arbitrator must be independent and impartial. The arbitration opinion must be prepared in writing. The sole decision-making benchmark to be applied by the arbitrator is the generally recognized state of technical/scientific knowledge in the relevant area of expertise that was publicly available at the time the items under dispute were purchased. The Parties will present their arguments in oral hearings before the arbitrator insofar such hearings are ordered by the arbitrator or requested by both Parties. In all other respects, the arbitrator will define the arbitration procedures to be followed at his discretion. The findings and decisions of the expert arbitrator will be binding on both Parties. A judicial review will take place only in the context of Section 319 German Civil Code (BGB). The arbitration opinion must be issued in writing along with supporting reasoning. This supporting reasoning must include the key assumptions upon which the expert based his evaluation. If the arbitration opinion upholds the purchaser's side in the dispute, Auctionata will bear the costs and expenditures associated with the arbitrator. If the arbitration opinion does not uphold the purchaser's side in the dispute, the purchaser will bear the costs and expenditures associated with the arbitrator. If the expert arbitrator is unable to reach a decision (or unable to decide with near certainty) as to whether or not a guarantee event has occurred, then the guarantee event will be deemed inexistent. In this case, the costs of the arbitrator will be shared equally between the Parties. In all other respects, each Party will bear any sundry costs that it incurs. Thus, own costs incurred in connection with the arbitration opinion, such as attorney's fees, will be borne by the respective Party.

11.5 If Auctionata acknowledges the warranty event, or if the purchaser prevails in the dispute as a result of the arbitration opinion, Auctionata will be obligated to unwind the purchase transaction in accordance with Section 346 et seqq. German Civil Code (BGB) within a period of 6 months. The Auctionata Guarantee will not entitle the purchaser to assert any further claims, particularly claims for damages or expense reimbursement.

11.6 The Auctionata Guarantee is highly personal in nature; i.e. it is not assignable, either contractually or statutorily, and will not pass to the purchaser's legal successors (if any) by way of universal succession.

11.7 The Auctionata Guarantee will in no way prejudice the purchaser's statutory warranty rights in the event of defects. Thus, the rights granted under the Guarantee will exist alongside the warranty rights of the purchaser without in any way limiting the latter. The Auctionata Guarantee will apply to all customers of Auctionata worldwide. The legal guarantor in this context will be Auctionata Beteiligungs AG, Kurfürstendamm 212, 10719 Berlin, Germany.

12. Catalogue descriptions

For purposes of Auctionata's liability pursuant to Clauses 10 and 11 herein, the following definition of terms will apply with respect to the attribution data provided in the catalogue:

a) "Attributed to": Although Auctionata and/or at least one recognized, external expert believe(s) this to be a work by the artist's own hand, Auctionata - despite its well-founded presumption - cannot definitively warrant that this is the case for specific reasons: e.g. because there is an opposing view in the expert community, or because attribution is not conclusively provable or is rendered difficult due to special circumstances.

b) "Workshop of": Although the work comes from the workshop of the artist, and is thus directly influenced by him, it does not come from the hand of the artist himself, but from another hand.

c) "Circle of": Although the work was directly and clearly influenced by the artist and was created during, or shortly after, the artist's lifetime, it does not come from the hand of the artist himself, but from another hand.

d) "Disciple of": Although the work was influenced by the artist, it was probably created without any direct or indirect contact with the artist himself. Thus, it comes from the hand of a "disciple" - either a contemporary of the artist or someone living in a later period - whose aim was to imitate the artist's original style.

e) "School": The work cannot be attributed to any particular artist. It can, however, be attributed to a particular artistic milieu, geographical area, and/or epoch (e.g. "Dutch School of the 17th Century").

f) "Period" or "century": The work cannot be attributed to any particular artist. It can, however, be attributed to the specified historical period or specified century.

g) "In the style of", "in the fashion of ", "in the manner of", "in the genre of": Although the work was created in the style of the specified artist or period, it definitely comes from the hand of a different artist and from a different period.

h) "Signed": The term "signed" merely refers to a characteristic of the work and makes no claim as to its purported attribution or authenticity.

i) "After": The work is a copy of a particular work. The original is known and was created by a known hand, whilst the copy comes from a different hand.

13. Liability beside purchase law

Auctionata shall only be liable in cases of intention and gross negligence; the aforementioned shall not apply in the event that express guarantees are assumed (figure 11), or in the event of damages resulting from injury to life, body or health, or in the event of mandatory legal provisions. In the event that significant contractual obligations are breached, or in the event of debtor's delay or impossibility of payment or performance for which Auctionata is responsible, Auctionata shall be liable for each case of culpable conduct, however. Liability for compensation of indirect damage, and particularly for lost profit, shall only arise in cases of intent or gross negligence on the part of legal representatives, managers or other vicarious agents of Auctionata. The amount of Auctionata's liability shall be limited to the damage typically foreseeable at the time of entering into the agreement, except in cases of intent or gross negligence on the part of legal representatives, managers or other vicarious agents of Auctionata.

14. Retention of title

The items shall remain the property of the respective Consignor until they are paid for in full. To protect the consignor, the items will not be shipped until payment has been received in full (receipt of payment).

15. Terms of payment

15.1 The purchase price for the items purchased is to be paid in advance. The customer must pay the purchase price immediately upon receipt of the invoice in PDF format. Payment on delivery is excluded. The customer may effect payment by bank transfer, PayPal or credit card. Auctionata shall not charge any fees for this.

15.2 A buyer shall enter into payment default if he has not rendered payment within 10 days after the payment due date and receipt of an invoice; the relevant date is the date that Auctionata receives the payment into its account. Section 286 Paragraph 4 German Civil Code (BGB) remains unaffected. In the event of payment default, the purchase price of Buyers who are consumers shall accrue interest during the payment default period in the amount of 5% points above the respectively valid base lending rate (in accordance with the statutory directives published by the German Central Bank) plus the statutory VAT. For an entrepreneur, the interest during the payment default period shall be 8% points above the base lending rate plus the statutory VAT. The interest shall be calculated per year and charged to the current account.

15.3 If the purchaser delays in making payment, Auctionata may withdraw wholly or partially from the agreement in accordance with the statutory provisions after granting an extension period of seven days, and demand damages (Section 325 of the German Civil Code (BGB)), which may include, specifically, storage costs, the buyer's premium as well as the seller´s premium.

15.4 The purchaser shall be deemed in default with acceptance of the item if he or she does not accept the item after two delivery attempts, or does not collect the item from the deliverer after it is deposited within the statutory period set by the deliverer, or does not collect the item from Auctionata or the deliverer on the agreed date two times in succession.

In the event of a delay in acceptance, Auctionata may wholly or partially withdraw from the agreement in accordance with the statutory provisions. When rescinding the purchase price payment transaction, Auctionata may offset the amount against any entitlement to compensation. This may include, in particular, the expenses incurred through default and through the reduction of the proceeds in the event that the item is auctioned again, and the auction fees associated with this.

When rescinding the purchase price payment transaction, the purchaser must provide his valid bank account details to Auctionata. If he or she fails to comply with this request, the amount will be deposited with the court after 90 days have passed at the purchaser's expense.

16. Delivery or collection, delivery periods, damage during shipping

16.1 Unless expressly agreed otherwise in writing, Auctionata will ship the sold items to the purchaser and the purchaser will pay the costs of shipping and shipping insurance in accordance with figure 8.2.

16.2 If agreed expressly in writing (by letter, fax or email) in individual cases, the purchaser can also collect the items from Auctionata in Berlin or from the Consignor at its own expense and risk on request and by appointment.

Collection is only possible if the items have been paid for in advance. The day on which the money arrives in Auctionata's account shall be determinative. Cash payment upon collection is not possible. Upon collection, the purchaser must prove his identity by showing his identity document, which will be copied. If the purchaser sends a representative to collect the item, he or she must announce this by letter, fax or email. In this case, the representative must also prove his identity. The item must be collected at the agreed time. If the purchaser culpably fails to uphold the appointment, default of acceptance in accordance with figure 14.4 shall apply.

16.3 Auctionata will only ship the items when they have been paid for in full (receipt of payment). The delivery period shall be 14 days after receipt of payment in the case of deliveries within the EU, and 21 days for deliveries to countries outside the EU. Delivery periods can be postponed, especially in case of goods which are related to the protection of species and cultural assets, because of official requirements for the ex- and import (for example export and import licenses). Auctionata shall not be liable for delays based on aforementioned circumstances. It is at the expense of a buyer, if a successful delivery to the buyer is not possible due to import regulations. This means that the buyer has to ensure before the conclusion of a purchase agreement with Auctionata that import regulations do not interfere a successful delivery.

16.4 If the purchaser is a business entity, shipping will take place at its own risk; for consumers, the statutory provisions shall apply, i.e. under no circumstances shall the consumer bear the risk of conveyance during shipping.

16.5 If, immediately upon receipt of the item, it should be discovered that the item has suffered severe damage during shipping, the customer should retain the packaging as evidence, since otherwise proving that the damage occurred during transit is considerably more difficult for Auctionata or may even be impossible. Please contact us immediately in such a case.

17. Exemptions from liability

17.1 Auctionata shall not be liable for the timely and correct submission of orders, bids and messages to Auctionata. Auctionata shall not, therefore, be held liable for the provision of a free telephone line and a functioning fax and Internet connection. Auctionata shall assume no liability whatsoever for the permanent availability of the Auctionata website.

17.2 Auctionata occasionally has to limit the operation of its website in order to perform maintenance work on the system or where this is required in order to perform technical security measures. During these times it is may be that the website of Auctionata is not accessible.

17.3 Auctionata accepts no liability should the website of Auctionata be limited in its functionality or destroyed through force majeure, strike, system malfunction or other external factors. Auctionata shall not be liable for loss or damage incurred through the lack of usability or inaccessibility of the website of Auctionata.

17.4 Auctionata accepts no liability for the unauthorised access of third persons to person details of Consignors (e.g. by hackers) unless Auctionata wilfully or through gross negligence failed to protect the data against access.

18. Data protection

Auctionata's privacy statement shall apply.

19. Amendments to the terms and conditions and final provisions

19.1 Auctionata reserves the right to amend the provisions of these terms and conditions with future effect at any time without citing reasons. Auctionata will announce such amendments on its www.auctionata.com website or by email. The amendments shall be deemed to have been accepted if the customer does not object to them within two weeks of receiving notice, or if he or she makes use of Auctionata's services again after the agreement has been amended. Auctionata shall present these terms and conditions to every customer before every Auction, so that amendments can be acknowledged before the conclusion of an agreement. If a customer objects to the amendment, Auctionata shall be entitled to terminate the agreement with the customer.

19.2 Third parties may enter into this agreement in place of Auctionata and wholly or partially assume the resulting rights and obligations subject to six weeks' prior notice. The customer hereby consents to this in advance.

19.3 The place of performance for all of Auctionata's performance obligations that are derived from the contractual relationships between the contractual parties shall be the commercial residence of Auctionata Beteiligungs AG in Berlin (Germany) if the contractual partner is an business person. The statutory provisions of the place of performance shall apply to consumers.

19.4 The legal venue for all claims arising from the disputes from the contractual relationships between the contractual parties shall be - insofar as the contractual parties are business persons, legal persons under public law or special foundations under public law - the commercial residence of Auctionata in Berlin (Germany). However, Auctionata may also alternatively take legal action against the contractual partner at his general or any other permissible legal venue. This shall not be valid if mandatory legal directives prescribe another legal venue.

19.5 The law of German Federal Republic shall apply exclusively, with the exclusion of the United Nations Convention on Contracts for the International Sale of Goods (see also Article 2b CISC regarding auctions) for the contractual agreement and the resulting claims, regardless of the type and against whom they are asserted. This shall also apply to transactions against national borders.

19.6 Should one or more of the provisions of the Terms and Conditions be or become wholly or partly ineffective or should the Terms and Conditions be found to contain omissions, the validity of the remaining provisions shall remain unaffected. The parties undertake, in such cases, to replace the wholly or partly ineffective provision with one which.

19.7 We save the text of the sales contract and send you the ordering information per email Access to the Terms and Conditions is given on the website at any time. Further, a printed version of the Terms and Conditions can be downloaded in PDF format. The ordering information is not accessible via the internet due to security reasons.

B. General Terms and Conditions - Online Shop

1. General provisions

1.1 All offers, purchase agreements, deliveries and services based on orders by our customers through the www.auctionata.com website or any other website operated by Auctionata (hereinafter "Online Shop") shall be governed by these General Terms and Conditions.

1.2 In the Online Shop, Auctionata sells items on consignment, i.e. Auctionata assumes the role of seller for the owner of the items (hereinafter "Consignor") by selling items in its own name on behalf of the owner ("Commission-based Transaction").

1.3 As a general rule, items are purchased using a shopping basket system. Our customers shall have no entitlement to purchase particular items presented in the Online Shop because the items are presented subject to the proviso that an owner may withdraw his items. An owner has the right to withdraw his items until the formation of the purchase agreement via the shopping basket system.

1.4 Our offerings are intended merely for consumers and business persons who have turned 18 years of age, i.e. only for adults. In the event that the customer only then becomes an adult after turning 18 years of age in the country where he resides, then the customer may only then register when he is considered to be an adult in the country where he resides. The offering and sale of alcohol are directed solely to persons who have reached the age required under law at their residence for the purchase of alcohol. The handover of bought alcohol happens only, if the recipient shows the proof of the age required under law before the handover.

1.5 Auctionata reserves the right to exclude customers from shopping in Online Shop, if their residence/delivery address is located in a country in which the goods that are being offered cannot be imported and Auctionata has knowledge of this and if doubt exists about the customer's identity or his creditworthiness.

1.6 Auctionata reserves the right to limit the number of goods, which a customer may acquire. Thus, for example, it may be demanded that acquired goods must be paid for before the customer may continue to bid or buy.

1.7 The customer's general terms and conditions shall not apply, even if Auctionata has not expressly rejected these in individual cases.

1.8 Auctionata may employ third parties as vicarious agents for the purpose of fulfilling the Agreement. The customer hereby consents to this in advance.

1.9 Employees of Auctionata are allowed to buy items in the Online Shop.

2. Formation of the purchase agreement

2.1 As a general rule, items are purchased using a shopping basket system. An ordering via the shopping basket constitutes a binding offer from the customer to enter into a purchase agreement. The purchase agreement shall be formed when Auctionata sends the customer an order confirmation by an automatically send email. If this does not happen, the customer's offer shall be deemed to have been rejected.

2.2 If Auctionata permits the customer to submit a counter offer (proposed price) for an item, which may be lower than the sales price stated in the online shop, Auctionata will pass this on to the deliverer so that he or she can authorize the sale; no sale can take place without his consent. The customer shall be bound to his offer for five days. If several proposed prices are received, only the highest proposed price will be passed on. If Auctionata receives the Consignor's consent within the 5-day period, Auctionata will send the customer an order confirmation by email and a purchase agreement shall be formed as a result. At the same time, the purchased item will be labeled as sold in the online shop. If the Consignor does not declare his consent within the 5-day period, no purchase agreement shall be formed. The counter offer (proposed price) shall cease to be valid if a third party purchases the item for the sale price stated in the online shop using the shopping basket system before we have received the Consignor's consent. In this case, the purchase agreement shall be formed with the purchaser who is willing to pay the full price.

2.3 The purchaser shall receive an invoice and the text of the agreement in PDF format together with the order confirmation by email.

2.4 The purchaser may enter into the purchase agreement in German or in English.

3. Prices

3.1 The sales price of the respective items listed in the Online Shop includes the buyer`s premium, the contribution to the resale royalty right (if applicable) and for any additional services statutory VAT. Auctionata charges additionally to the aforementioned sales price the Transport Costs and Transport Insurance Costs (including VAT). Further information about the purchase price can be found in the List of Fees for Buyers, whereupon the respective current version shall apply.

3.2 Further information about shipping and shipping insurance costs can be found in the List of Fees for Buyers, whereupon the respective current version shall apply [direct link]. These costs shall not apply if collection of the goods has been agreed to in writing (email shall suffice) with Auctionata in exceptional cases.

Deliveries to non-EU countries are subject to additional custom duties and import tax. Further Information to custom duties and import tax can for example be found here:

http://www.zoll.de/DE/Home/home_node.html;jsessionid=BA5864B4CA08BA56593274FD649E3105

3.3 The contribution to the resale royalty right refers to the legal obligation for the resale royalty in case of the resale of fine arts and photographs in the art market. The contribution to the resale royalty right is concluded in the sales price. The goods affected will be labeled accordingly in the Online Shop. Further information about the contribution to the resale royalty right can be found in the List of Fees for Buyers, whereupon the respective current version shall apply.

4. Taxation

4.1 In principle, statutory VAT shall only be payable on the buyer's premium, the contribution to the resale royalty right, shipping and shipping insurance costs because the purchase price according to Clause 4.1 is subject to differential taxation for buyers residing in the EU. Differential taxation is a special form of taxation which is prescribed for the trading of second-hand items where it is not possible to deduct input tax. Thus statutory VAT is not stated.

4.2 By derogation from Clause 4.1, purchasers may request that an invoice is issued subject to standard taxation when purchasing second-hand items. A precondition for this is that the purchaser is entitled to deduct input tax.

4.3 If an item is labeled "RB" in the Online Shop, statutory VAT shall also be payable on the purchase price (a case of so-called "standard taxation").

For entrepreneurs may apply that the statutory VAT on the purchase price omits in the following cases:

From a tax perspective, all countries outside of the EU are considered third-party countries; in this case, no VAT shall be applicable. Where applicable, buyers from third-party countries must then pay customs duties and taxes on the supplied goods on-site. There are also exceptions in this regard. Among others, the Canary Islands are considered to be a third-party country known as the EU Special Zone.

For business persons who have purchased from Auctionata for commercial purposes, the VAT exemption shall likewise apply to deliveries within the EU if the buyer can document by means of his VAT ID No. that he will pay the VAT for the purchase of the item in his home country.

5. Revocation Instruction

Right to revoke

You have the right to revoke this contract within 14 days without giving any reason.

The revocation period will expire after 14 days from the day on which you acquire, or a third party other than the carrier and indicated by you acquires, physical possession of the goods.

To exercise the right to revoke, you must inform us (Auctionata Beteiligungs AG, Kurfürstendamm 212, 10719 Berlin, E-Mail: widerruf@auctionata.com, Fax: +49 30 202 39 21 69, Tel: +49 30 610 80 61 10) of your decision to cancel this contract by a clear statement (e.g. a letter sent by post, fax or e-mail). You may use the attached model revocation form, but it is not obligatory.

To meet the revocation deadline, it is sufficient for you to send your communication concerning your exercise of the right to revoke before the revocation period has expired.

Effects of revocation

If you revoke this contract, we will reimburse to you all payments received from you, including the costs of delivery (except for the supplementary costs arising if you chose a type of delivery other than the least expensive type of standard delivery offered by us).

We will make the reimbursement without undue delay, and not later than 14 days from the day on which we are informed about your decision to revoke this contract.

We will make the reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise; in any event, you will not incur any fees as a result of the reimbursement.

You shall send back the goods or hand them over to us, without undue delay and in any event not later than 14 days from the day on which you communicate your revocation from this contract to us. The deadline is met if you send back the goods before the period of 14 days has expired.

You will have to bear the direct cost of returning the goods. The cost is estimated at a maximum of approximately 100,00 EUR.

You are only liable for any diminished value of the goods resulting from the handling other than what is necessary to establish the nature, characteristics and functioning of the goods.

End of revocation instruction

________________________________________________________________________

Model revocation form

(If you like to revoke this contract, complete and return this form)

- To Auctionata Beteiligungs AG, Kurfürstendamm 212, 10719 Berlin, E-Mail: widerruf@auctionata.com, Fax: +49 30 202 39 21 69, Tel: +49 30 610 80 61 10:

- I/We [*] hereby give notice that I/We [*] cancel my/our [*] contract of sale of the following goods [*]/for the provision of the following service [*],

- Ordered on [*]/received on [*],

- Name of consumer(s),

- Address of consumer(s),

- Signature of consumer(s) (only if this form is notified on paper),

- Date

____________________________

[*] Delete as appropriate.

________________________________________________________________________

6. Warranty; condition

6.1 The warranty period for consumers will be two years from the date of delivery of the item. For business owners and for purchasers of a used item, the warranty period will be one year from the date of delivery of the item.

6.2 An item's product description will define the characteristics contractually agreed for that item insofar as the product description relates to the item's authorship, manufacturer, date of manufacture/creation, technique of fabrication or affixed signature. The information provided on the item's provenance, by contrast, will be expressly excluded from the contractually agreed characteristics.

6.3 Since items offered in the Online Shop are generally used items, their individual condition will specifically include signs of prior usage and other traces of age. Thus, a given item's actual and individual state of conservation - as shown and described in the Online Shop - will be deemed to form part of its contractually agreed characteristics. Insofar as the product catalogue describes an item as exhibiting blemishes, damage and/or defects which no longer correspond to the normal condition of a used item and which are likely to fundamentally reduce the value of the item, then this information will also be deemed part of the contractually agreed characteristics, so that no warranty will be assumed in this regard.

6.4 Deviations between an item's actual shade of color and the one shown on the product page, insofar as they result from the photographic techniques used (e.g. lighting and/or sharpness of the image) or from the manner in which the item is pictured on the product page, will be deemed immaterial and will not represent a defect. This will not apply, however, if the deviation in color is due to negligence on the part of Auctionata.

6.5 If an item's product description explicitly includes a caveat or restriction regarding the reliability of the information provided, then said information will not form part of the agreed characteristics. In this case, the purchaser will purchase the item at his own risk as far as the information in question is concerned. If a product description explicitly refers to an item as a "copy" (e.g. as a "museum copy"), then the item in question will be deemed purchased as a copy and not as an original, thereby precluding any warranty for defects in this regard. If the product description explicitly describes or designates an item as being "of doubtful authenticity", then said item will be deemed purchased not as an original but as an "item of doubtful authenticity", thereby precluding any warranty in this regard.

6.6 If a defect is present, i.e. in the event of deviation from the contractually agreed condition of the item, and if documented written proof of the deficiency is presented within the warranty period in accordance with figure 6.1, the following shall apply to the rescinded transaction:

The transaction will be unwound in accordance with the relevant statutory regulations. Accordingly, each Party must first of all return any benefits it has received under the contract. In other words, Auctionata must reimburse the purchaser for the purchase price paid, while the purchaser must return the purchased item(s) to Auctionata. A different procedure will be followed in the event that an item returned by the purchaser has deteriorated or perished in the meantime, whereby deterioration resulting from the item's proper use will be disregarded. In this case, the debtor must,as a rule, pay compensation for the item's value in lieu of returning it (cf. Section 346 Paragraph 2 Number 3 German Civil Code (BGB)). The item's purchase price will be used as the basis for calculating its replacement value. The relevant statutory warranty regulations will also apply in this context; this means, for example, that the purchaser may also demand abatement of the purchase price.

6.7 If, based on the foregoing provisions, a situation arises in which the purchaser is not entitled to any warranty claim, whereas Auctionata is entitled to claims against the consignor, then Auctionata will be obligated to assert its claims against the consignor. If such claims are asserted successfully, the purchaser will be entitled to receive disbursement of the sums recouped up to the amount of the purchase price.

7. The Auctionata Guarantee

7.1 In accordance with the guarantee declaration set forth below in this Clause 7 ("Auctionata Guarantee"), Auctionata guarantees that the descriptions provided in the product descriptions correspond to the generally recognized state of technical/scientific knowledge publicly available at the time of the item's purchase with respect to the following agreed characteristics:

a) the identity of the artist or manufacturer; and
b) the time of creation or manufacture of the item.

If any of the above elements of an item's product description are provided subject to a caveat, or are identified as having been determined by external experts not employed by Auctionata, or are missing from the product description altogether, then the information in question will not be covered by the Auctionata Guarantee. The Auctionata Guarantee applies only to the information referenced above under a) and b), but not to any other information, e.g. regarding the item's provenance, technique of fabrication, serial classification, numbering or edition.

7.2 If a product description explicitly refers to an item as a "copy" (e.g. as a "museum copy"), then the item in question will be deemed purchased as a copy and not as an original, and will thus not be covered by the Auctionata Guarantee in this respect. Likewise, if the product description explicitly describes or designates an item as being "of doubtful authenticity", then said item will be deemed purchased not as an original but as an "item of doubtful authenticity" and will thus not be covered by the Auctionata Guarantee in this respect.

7.3 The Auctionata Guarantee will apply for a period of 25 years from the time of handover of the purchased item. After this deadline, all claims under the Auctionata Guarantee will lapse. The purchaser must notify Auctionata in writing about any warranty claim within 6 months of the claim's discovery, while also providing legitimate grounds for the claim along with reliable, supporting documents or a reputable expert opinion. If he fails to comply with the foregoing, the purchaser will lose recourse to the rights granted under the Auctionata Guarantee.

7.4 In the event of a dispute between Auctionata and the purchaser about whether or not a guarantee event has occurred, an expert arbitrator will decide the dispute. Legal action may not be initiated over a dispute - nor any related claims asserted - until after the expert arbitrator has issued his opinion or, in the case of legal proceedings in accordance with Section 319 German Civil Code (BGB), until after said proceedings have been concluded in a conclusive, non-appealable manner. Either Party will be entitled to make a written request for the appointment of an expert arbitrator, whereupon the Parties will have 4 weeks to agree on who will serve as arbitrator. If the Parties fail to reach agreement within this time, either Party will be free to make a written demand that the expert arbitrator be appointed by the Bundesverband der Kunstsachverständigen e.V (German Federation of Art Experts) or by some comparable organization. The expert arbitrator must be a publicly appointed and sworn expert in the field of fine art. The arbitrator must be independent and impartial. The arbitration opinion must be prepared in writing. The sole decision-making benchmark to be applied by the arbitrator is the generally recognized state of technical/scientific knowledge in the relevant area of expertise that was publicly available at the time the items under dispute were purchased. The Parties will present their arguments in oral hearings before the arbitrator insofar such hearings are ordered by the arbitrator or requested by both Parties. In all other respects, the arbitrator will define the arbitration procedures to be followed at his discretion. The findings and decisions of the expert arbitrator will be binding on both Parties. A judicial review will take place only in the context of Section 319 German Civil Code (BGB). The arbitration opinion must be issued in writing along with supporting reasoning. This supporting reasoning must include the key assumptions upon which the expert based his evaluation. If the arbitration opinion upholds the purchaser's side in the dispute, Auctionata will bear the costs and expenditures associated with the arbitrator. If the arbitration opinion does not uphold the purchaser's side in the dispute, the purchaser will bear the costs and expenditures associated with the arbitrator. If the expert arbitrator is unable to reach a decision (or unable to decide with near certainty) as to whether or not a guarantee event has occurred, then the guarantee event will be deemed inexistent. In this case, the costs of the arbitrator will be shared equally between the Parties. In all other respects, each Party will bear any sundry costs that it incurs. Thus, own costs incurred in connection with the arbitration opinion, such as attorney's fees, will be borne by the respective Party.

7.5 If Auctionata acknowledges the warranty event, or if the purchaser prevails in the dispute as a result of the arbitration opinion, Auctionata will be obligated to unwind the purchase transaction in accordance with Section 346 et seqq. German Civil Code (BGB) within a period of 6 months. The Auctionata Guarantee will not entitle the purchaser to assert any further claims, particularly claims for damages or expense reimbursement.

7.6 The Auctionata Guarantee is highly personal in nature; i.e. it is not assignable, either contractually or statutorily, and will not pass to the purchaser's legal successors (if any) by way of universal succession.

7.7 The Auctionata Guarantee will in no way prejudice the purchaser's statutory warranty rights in the event of defects. Thus, the rights granted under the Guarantee will exist alongside the warranty rights of the purchaser without in any way limiting the latter. The Auctionata Guarantee will apply to all customers of Auctionata worldwide. The legal guarantor in this context will be Auctionata Beteiligungs AG, Kurfürstendamm 212, 10719 Berlin, Germany.

8. Product descriptions

For purposes of Auctionata's liability pursuant to Clauses 10 and 11 herein, the following definition of terms will apply with respect to the attribution data provided in the catalogue:

a) "Attributed to": Although Auctionata and/or at least one recognized, external expert believe(s) this to be a work by the artist's own hand, Auctionata - despite its well-founded presumption - cannot definitively warrant that this is the case for specific reasons: e.g. because there is an opposing view in the expert community, or because attribution is not conclusively provable or is rendered difficult due to special circumstances.

b) "Workshop of": Although the work comes from the workshop of the artist, and is thus directly influenced by him, it does not come from the hand of the artist himself, but from another hand.

c) "Circle of": Although the work was directly and clearly influenced by the artist and was created during, or shortly after, the artist's lifetime, it does not come from the hand of the artist himself, but from another hand.

d) "Disciple of": Although the work was influenced by the artist, it was probably created without any direct or indirect contact with the artist himself. Thus, it comes from the hand of a "disciple" - either a contemporary of the artist or someone living in a later period - whose aim was to imitate the artist's original style.

e) "School": The work cannot be attributed to any particular artist. It can, however, be attributed to a particular artistic milieu, geographical area, and/or epoch (e.g. "Dutch School of the 17th Century").

f) "Period" or "century": The work cannot be attributed to any particular artist. It can, however, be attributed to the specified historical period or specified century.

g) "In the style of", "in the fashion of ", "in the manner of", "in the genre of": Although the work was created in the style of the specified artist or period, it definitely comes from the hand of a different artist and from a different period.

h) "Signed": The term "signed" merely refers to a characteristic of the work and makes no claim as to its purported attribution or authenticity.

i) "After": The work is a copy of a particular work. The original is known and was created by a known hand, whilst the copy comes from a different hand.

9. Liability beside purchase law

Auctionata shall only be liable in cases of intention and gross negligence; the aforementioned shall not apply in the event that express guarantees are assumed (Clause 7), or in the event of damages resulting from injury to life, body or health, or in the event of mandatory legal provisions. In the event that significant contractual obligations are breached, or in the event of debtor's delay or impossibility of payment or performance for which Auctionata is responsible, Auctionata shall be liable for each case of culpable conduct, however. Liability for compensation of indirect damage, and particularly for lost profit, shall only arise in cases of intent or gross negligence on the part of legal representatives, managers or other vicarious agents of Auctionata. The amount of Auctionata's liability shall be limited to the damage typically foreseeable at the time of entering into the agreement, except in cases of intent or gross negligence on the part of legal representatives, managers or other vicarious agents of Auctionata.

10. Retention of title

The items shall remain the property of the respective Consignor until they are paid for in full.

11. Terms of payment

11.1 The purchase price for the items purchased is to be paid according to the customer´s choice in advance or on account. For each order, Auctionata reserves the right to do not offer certain types of payments and to refer to different types of payment. A right to a certain payment shall not exist. In case of payment in advance, the customer must pay the purchase price immediately upon receipt of the invoice in PDF format. In case of payment on account, the purchase price shall be due for payment 21 days after the receipt of the written invoice. Payment on delivery is excluded. The customer may effect payment by bank transfer, PayPal or credit card (the credit card account will be debited on the following day after the ordering). Auctionata shall not charge any fees for this.

11.2 A buyer shall enter into payment default if he has not rendered payment within 10 days after the payment due date and receipt of an invoice; the relevant date is the date that Auctionata receives the payment into its account. Section 286 Paragraph 4 German Civil Code (BGB) remains unaffected. In the event of payment default, the purchase price of Buyers who are consumers shall accrue interest during the payment default period in the amount of 5% points above the respectively valid base lending rate (in accordance with the statutory directives published by the German Central Bank) plus the statutory VAT. For an entrepreneur, the interest during the payment default period shall be 8% points above the base lending rate plus the statutory VAT. The interest shall be calculated per year and charged to the current account.

11.3 If the purchaser delays in making payment, Auctionata may withdraw wholly or partially from the agreement in accordance with the statutory provisions after granting an extension period of seven days, and demand damages (Section 325 of the German Civil Code (BGB)), which may include, specifically, storage costs and the buyer's premium.

11.4 The purchaser shall be deemed in default with acceptance of the item if he or she does not accept the item after two delivery attempts, or does not collect the item from the deliverer after it is deposited within the statutory period set by the deliverer, or does not collect the item from Auctionata or the deliverer on the agreed date two times in succession.

In the event of a delay in acceptance, Auctionata may wholly or partially withdraw from the agreement in accordance with the statutory provisions. When rescinding the purchase price payment transaction, Auctionata may offset the amount against any entitlement to compensation. This may include, in particular, the expenses incurred through default and through the reduction of the proceeds in the event that the item is auctioned again, and the auction fees associated with this.

When rescinding the purchase price payment transaction, the purchaser must provide his valid bank account details to Auctionata. If he or she fails to comply with this request, the amount will be deposited with the court after 90 days have passed at the purchaser's expense.

12. Delivery or collection, delivery periods, damage during shipping

12.1 Unless expressly agreed otherwise in writing, Auctionata will ship the sold items to the purchaser and the purchaser will pay the costs of shipping and shipping insurance in accordance with figure 4.2.

12.2 If agreed expressly in writing (by letter, fax or email) in individual cases, the purchaser can also collect the items from Auctionata in Berlin or from the Consignor at its own expense and risk on request and by appointment.

12.3 At the purchase "cash with order" Auctionata will only ship the items when they have been paid for in full (receipt of payment). The delivery period shall be 14 days after receipt of payment in the case of deliveries within the EU, and 21 days for deliveries to countries outside the EU. Delivery periods can be postponed, especially in case of goods which are related to the protection of species and cultural assets, because of official requirements for the ex- and import (for example export and import licenses). Auctionata shall not be liable for delays based on aforementioned circumstances. It is at the expense of a buyer, if a successful delivery to the buyer is not possible due to import regulations. This means that the buyer has to ensure before the conclusion of a purchase agreement with Auctionata that import regulations do not interfere a successful delivery.

12.4 If the purchaser is a business entity, shipping will take place at its own risk; for consumers, the statutory provisions shall apply, i.e. under no circumstances shall the consumer bear the risk of conveyance during shipping.

12.5 If, immediately upon receipt of the item, it should be discovered that the item has suffered severe damage during shipping, the customer should retain the packaging as evidence, since otherwise proving that the damage occurred during transit is considerably more difficult for Auctionata or may even be impossible. Please contact us immediately in such a case.

13. Exemptions from liability

13.1 Auctionata offers no guarantees that the Online Shop will be permanently available.

13.2 Auctionata occasionally has to limit the operation of its website in order to perform maintenance work on the system or where this is required in order to perform technical security measures. During these times it is may be that the website of Auctionata is not accessible.

13.3 Auctionata accepts no liability should the website of Auctionata be limited in its functionality or destroyed through force majeure, strike, system malfunction or other external factors. Auctionata shall not be liable for loss or damage incurred through the lack of usability or inaccessibility of the website of Auctionata.

13.4 Auctionata accepts no liability for the unauthorised access of third persons to person details of Consignors (e.g. by hackers) unless Auctionata wilfully or through gross negligence failed to protect the data against access.

14. Data protection

Auctionata's privacy statement shall apply.

15. Amendments to the terms and conditions and final provisions

15.1 Auctionata reserves the right to amend the provisions of these terms and conditions with future effect at any time without citing reasons. Auctionata will announce such amendments on its www.auctionata.com website or by email. The amendments shall be deemed to have been accepted if the customer does not object to them within two weeks of receiving notice, or if he or she makes use of Auctionata's services again after the agreement has been amended. Auctionata shall present these terms and conditions to every customer before every auction, so that amendments can be acknowledged before the conclusion of an agreement. If a customer objects to the amendment, Auctionata shall be entitled to terminate the agreement with the customer.

15.2 Third parties may enter into this agreement in place of Auctionata and wholly or partially assume the resulting rights and obligations subject to six weeks' prior notice. The customer hereby consents to this in advance.

15.3 The place of performance for all of Auctionata's performance obligations that are derived from the contractual relationships between the contractual parties shall be the commercial residence of Auctionata Beteiligungs AG in Berlin (Germany) if the contractual partner is a business person. The statutory provisions of the place of performance shall apply to consumers.

15.4 The legal venue for all claims arising from the disputes from the contractual relationships between the contractual parties shall be - insofar as the contractual parties are business persons, legal persons under public law or special foundations under public law - the commercial residence of Auctionata in Berlin (Germany). However, Auctionata may also alternatively take legal action against the contractual partner at his general or any other permissible legal venue. This shall not be valid if mandatory legal directives prescribe another legal venue.

15.5 The law of German Federal Republic shall apply exclusively, with the exclusion of the United Nations Convention on Contracts for the International Sale of Goods (see also Article 2b CISC regarding auctions) for the contractual agreement and the resulting claims, regardless of the type and against whom they are asserted. This shall also apply to transactions against national borders.

15.6 Should one or more of the provisions of the Terms and Conditions be or become wholly or partly ineffective or should the Terms and Conditions be found to contain omissions, the validity of the remaining provisions shall remain unaffected. The parties undertake, in such cases, to replace the wholly or partly ineffective provision with one which is effective and whose economic purpose most closely reflects that of the ineffective provision.

15.7 We save the text of the sales contract and send you the ordering information per email Access to the Terms and Conditions is given on the website at any time. Further, a printed version of the Terms and Conditions can be downloaded in PDF format. The ordering information is not accessible via the internet due to security reasons.

C. Terms and conditions for obtaining a valuation

1. General provisions

The following provisions shall apply to every valuation request, free valuation, valuation in return for remuneration and other act/service in connection with a valuation through the www.auctionata.com website (hereinafter "Website"). Auctionata will treat every valuation request with the utmost discretion. Auctionata shall be entitled to make use of the services of third parties for contractual fulfillment.

2. Conclusion of the agreement; number of free valuations

2.1 A free valuation can be requested using a form on the website or by sending an email to schaetzung@auctionata.com. If the form on the website is used, the customer can choose between "Valuation with photos" and "Valuation without photos". Before submitting the valuation request, in both cases the customer must enter a brief description and the customer's contact details, and must agree to these terms and conditions and the privacy statement.

2.2 Once the valuation request has been received, the customer will receive an email in which Auctionata confirms or rejects the request for a valuation or several valuations. If Auctionata accepts the order, an agreement has been formed concerning the preparation of a valuation free of charge. Auctionata reserves the right to reject requests for a valuation, however; under no circumstances shall Auctionata be obliged to accept a request.

2.3 Customers can have a maximum of five items valued free of charge within 12 months. From the sixth item, the customer will receive an offer for a valuation in return for remuneration by email from Auctionata. The interested party must accept this offer by fax, email or letter. Auctionata shall be free to offer individual customers more than five valuations free of charge.

2.4 The valuation shall be free of charge from the sixth item if the valued items are presented to Auctionata for sale by way of a commission-based transaction between the customer and Auctionata within 12 months of the date of valuation. In this case, the costs of each valuation in return for remuneration will be refunded to the customer.

2.5 Submitting a valuation request or entering into an agreement concerning the preparation of a valuation free of charge shall not create a contractual obligation for the customer to enter into a subsequent commission-based transaction with Auctionata; the aforesaid shall also apply in cases of valuation in return for remuneration.

3. Information and photos for the valuation

As a general rule, the experts will prepare the valuations on the basis of the information and photos submitted by the customer. In the event that Auctionata requires additional information and/or additional photos in order to make a valuation, Auctionata will contact the customer and request the information and/or photos. If the customer rejects Auctionata's request, Auctionata shall be entitled to reject the valuation request. In the event that Auctionata considers it necessary to inspect the item, Auctionata will contact the customer to arrange an inspection or to arrange for the item to be sent to Auctionata. If the customer does not consent to an inspection being carried out by Auctionata, Auctionata shall be entitled to reject the valuation request.

4. Valuation number, status query and notification of the valuation

4.1 Auctionata will allocate a valuation number to each valuation request. In the event of a free of charge valuation, the customer will be sent this number by email together with the order confirmation. In the event of a valuation in return for remuneration, the customer will receive the valuation number in the email containing the offer to conclude an agreement. He or she can use this valuation number to query the status of the valuation by replying to the email. The customer will then receive notification of the status of the valuation request by email from Auctionata.

4.2 Finally, the customer will receive a link to the completed valuation on Auctionata's website. When the customer has received the valuation, he or she can decide whether he or she wishes to sell the item through Auctionata ("commission-based transaction"). No right to enter into a commission-based transaction shall exist, however.

5. Object of service and warranty

5.1 A valuation prepared by Auctionata will always include a determined estimation value and brief details of the item (e.g. date, material, size, artist etc.). The Auctionata experts will always make valuations to the best of their knowledge and on the basis of current scientific knowledge. Unless it has been expressly agreed otherwise in writing (email is sufficient) in individual cases and a direct inspection has taken place, the valuations prepared for customers shall always constitute so-called "remote valuations". This means that the Auctionata experts have prepared the catalog description "remotely", i.e. without having inspected the items directly. It follows from this that the valuation constitutes a conditional and provisional arrangement until Auctionata conducts a final direct valuation of the items, and that Auctionata does not, therefore, supply any information about the condition free from any doubt.

5.2 For this reason, every item will be inspected again closely by the Auctionata experts in the event of delivery for sale in the online shop or by Auction. This inspection may lead to a subsequent alteration of the previously determined provisional estimation value. The Consignor will, of course, be notified of this as soon as possible.

5.3 We therefore wish to expressly inform you that the content of a valuation based on a remote valuation is used by the customer at its own risk. Customers should not, therefore, base any far-reaching decisions such as the making of a gift, sale to a third party or similar on the valuation. Auctionata shall assume no warranty for the valuation service(s) provided. Achieving direct or indirect economic success is not the object of the service provided by Auctionata.

6. Remuneration, Maturity and Terms of payment

6.1 The remuneration for obtaining fee-based valuations depends on the current Overview of Fees. The amount of remuneration depends on whether a "remote valuation" or a valuation through direct inspection is commissioned.

6.2 The remuneration for the fee-based valuation is to be paid in advance. The customer must pay the remuneration immediately upon receipt of the invoice. Payment on delivery is excluded. The customer may effect payment by bank transfer, PayPal or credit card. Auctionata shall not charge any fees for this.

6.3 A customer shall enter into payment default if he has not rendered payment within 10 days after the payment due date and receipt of an invoice; the relevant date is the date that Auctionata receives the payment into its account. Section 286 Paragraph 4 German Civil Code (BGB) remains unaffected. In the event of payment default, the purchase price of customers who are consumers shall accrue interest during the payment default period in the amount of 5% points above the respectively valid base lending rate (in accordance with the statutory directives published by the German Central Bank) plus the statutory VAT. For an entrepreneur, the interest during the payment default period shall be 8% points above the base lending rate plus the statutory VAT. The interest shall be calculated per year and charged to the current account.

7. Liability

Except in cases of intent or gross negligence, liability on the part of Auctionata shall be excluded. This shall also apply in cases of slightly negligent breaches of duty by legal representatives or vicarious agents unless the case involves the culpable violation of material contractual obligations. If there is no intentional breach of contract, the liability for damages shall be limited to the foreseeable, typically occurring damage. Liability for damages resulting from injury to life, body or heath, and liability in accordance with the German law on product liability (ProdHaftG) shall not be affected hereby.

8. Revocation Instruction

Right to revoke

You have the right to revoke this contract within 14 days without giving any reason.

The revocation period will expire after 14 days from the day of the conclusion of the contract.

To exercise the right to revoke, you must inform us (Auctionata Beteiligungs AG, Kurfürstendamm 212, D-10719 Berlin, email:widerruf@auctionata.com, Fax: +49 30 202 39 21 69) of your decision to revoke this contract by a clear statement (e.g. a letter sent by post, fax or e-mail). You may use the attached model revocation form, but it is not obligatory.

To meet the revocation deadline, it is sufficient for you to send your communication concerning your exercise of the right to revoke before the revocation period has expired.

If you revoke this contract, we will reimburse to you all payments received from you, including the costs of delivery (except for the supplementary costs arising if you chose a type of delivery other than the least expensive type of standard delivery offered by us).

We will make the reimbursement without undue delay, and not later than 14 days from the day on which we are informed about your decision to revoke this contract.

We will make the reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise; in any event, you will not incur any fees as a result of the reimbursement.

If you requested to begin the performance of services during the cancellation period, you shall pay us an amount which is in proportion to what has been performed until you have communicated us your cancellation from this contract, in comparison with the full coverage of the contract

End of revocation instruction

________________________________________________________________________

Model revocation form

(If you like to revoke this contract, complete and return this form)

- To Auctionata Beteiligungs AG, Kurfürstendamm 212, D-10719 Berlin, E-Mail: widerruf@auctionata.com, Fax: +49 30 202 39 21 69:

- I/We [*] hereby give notice that I/We [*] cancel my/our [*] contract of sale of the following goods [*]/for the provision of the following service [*],

- Ordered on [*]/received on [*],

- Name of consumer(s),

- Address of consumer(s),

- Signature of consumer(s) (only if this form is notified on paper),

- Date

_____________________________

[*] Delete as appropriate.

________________________________________________________________________

9. Termination

The agreement concerning the preparation of free of charge valuations may be terminated by either party in writing (including by email) at any time without giving reasons. In the case of valuations in return for remuneration, the customer may terminate the agreement without giving reasons at any time until the valuation is complete. In this case, Auctionata shall be entitled to demand the agreed remuneration for the services provided with regard to the valuation(s) not yet complete.

10. Data protection

Auctionata's privacy statement shall apply.

11. Amendments to the terms and conditions and final provisions

11.1 Auctionata reserves the right to amend the provisions of these terms and conditions with future effect at any time without citing reasons. Auctionata will announce such amendments on its www.auctionata.com website or by email. The amendments shall be deemed to have been accepted if the customer does not object to them within two weeks of receiving notice, or if he or she makes use of Auctionata's services again after the agreement has been amended. Auctionata shall present these terms and conditions to every customer before every Auction, so that amendments can be acknowledged before the conclusion of an agreement. If a customer objects to the amendment, Auctionata shall be entitled to terminate the agreement with the customer.

11.2 Third parties may enter into this agreement in place of Auctionata and wholly or partially assume the resulting rights and obligations subject to six weeks' prior notice. The customer hereby consents to this in advance.

11.3 The place of performance for all of Auctionata's performance obligations that are derived from the contractual relationships between the contractual parties shall be the commercial residence of Auctionata Beteiligungs AG in Berlin (Germany) if the contractual partner is an business person. The statutory provisions of the place of performance shall apply to consumers.

11.4 The legal venue for all claims arising from the disputes from the contractual relationships between the contractual parties shall be - insofar as the contractual parties are business persons, legal persons under public law or special foundations under public law - the commercial residence of Auctionata in Berlin (Germany). However, Auctionata may also alternatively take legal action against the contractual partner at his general or any other permissible legal venue. This shall not be valid if mandatory legal directives prescribe another legal venue.

11.5 The law of German Federal Republic shall apply exclusively for the contractual agreement and the resulting claims, regardless of the type and against whom they are asserted. This shall also apply to transactions against national borders.

11.6 Should one or more of the provisions of the Terms and Conditions be or become wholly or partly ineffective or should the Terms and Conditions be found to contain omissions, the validity of the remaining provisions shall remain unaffected. The parties undertake, in such cases, to replace the wholly or partly ineffective provision with one which is effective and whose economic purpose most closely reflects that of the ineffective provision.

D. Glossary

(as of January 2012)

For better comprehension, some terms are defined here in advance which can be found in these Terms and Conditions, in the Privacy Policy, in the Consignment Agreement and in other places. The aforementioned regulations shall always take precedence over the following definitions.

Consumer:
The consumer refers to a natural person who purchases the goods and services for his own purposes.

Business Person/Company:
The business person is a natural or legal person or a partnership which is authorised to undertake legal dealings which/who is acting in the exercising of his/its commercial or independent professional capacity when concluding a business deal.

Verification:
Verification means that Auctionata will examine whether a registered person is actually the person whose identity has been given. For the verification, several options are available which are listed in detail in the Business Terms and Conditions.

Consignor:
The contractual partner delivers used items to Auctionata for auction or sale in the Online Shop. The consignor shall remain the owner of the items until transfer of ownership is made to the buyer. A consignment agreement is concluded.

Supplying:
The surrendering of the items to Auctionata for sale. The contractual agreement concluded between the consignor and Auctionata is called the Consignor Agreement. It involves a commission-based transaction.

Auction:
Auctionata regularly holds auctions on its business premises whereby the goods displayed in the online catalogue are publicly auctioned. The auction is broadcast live via streaming technology on the Internet. Thus, it is possible to personally participate in the public auction live via the Internet by entering the virtual auction room. Thus, it is also possible for bidders to also submit bids by telephone during the auction. Moreover, written purchase orders can be issued to Auctionata and indeed by fax, letter or email and up to one hour prior to the start of the auction.

Auctioneer:
The auctioneer is considered to be the person who conducts the auction, announces the items for bidding and declares the acceptance of the winning bids (knock down). The auctioneer is considered to be the master of the proceedings. Auctionata works only with auctioneers who are certified in Austria or Germany.

Fall of Hammer or Knock Down:
Upon acceptance of the winning bid, namely when the auctioneer hits his gavel on the table (knock down), the purchasing agreement shall be considered to have been concluded. The price obtained in this manner shall be considered to be the hammer price.

Hammer Price:
This is the price which the highest bidder offers in order to receive the acceptance of the winning bid, in other words to acquire the goods. The hammer price does not contain the buyer´s premium and additional ancillary costs.

Bidder:
A bidder is a person who submits a bid (regardless of whether it is in writing, via the Internet or by telephone) during an auction or an Internet auction. In cases of doubt, it must always be assumed that a bidder is bidding in his own name.

Highest Bidder:
The highest bidder is the person who submits the final bid at an auction which is knocked down by the auctioneer.

Low Bidder:
A person who has submitted a bid during an auction directly before the winning bid was issued and who was ultimately outbid by the highest bidder.

Account:
Each bidder requires an account in order to be able to participate in the bidding process in the virtual auction room. As the holder of an Auctionata account, one can log in with a password and must upload a profile photo.

Profile Photo:
The photograph which must be uploaded when an account is set up may depict the person holding the account or also a motif which is appropriate to the account holder. Profile photos may not violate third-party rights.

Purchasing from the Online Shop:
Auctionata shall display goods in the Online Shop which may be purchased immediately at fixed prices. In some cases, customers themselves may recommend a price. The consignor reserves the right to accept or reject this counter offer. Until a price is accepted, the article will remain in the Online Shop and may thus be acquired by a third party at an official sales price.

Catalogue Descriptions:
These are the binding descriptions of the goods which are auctioned off or sold. As an exception, obvious typing errors shall be considered to be non-binding.

Written Auction Announcements:
Written auction announcements are statements issued by the auction house which can be reviewed in written form before the beginning of an auction and are read aloud by the auctioneer. They carry greater weight than the catalogue descriptions because they may possibly contain new information. Before entering the auction room, the written auction announcements must be approved. They will be read aloud to persons bidding by telephone. Bidders who have already submitted bids before the written auction announcements were available for review and who had no opportunity to receive such information shall be contacted by telephone by the auction house before the auction begins and asked whether they want to keep their bid. If they do not wish to do so, it is possible to withdraw the bid upon a free-of-charge basis.

Written Absentee Bids:
Each prospective purchaser is at liberty to submit written purchase orders for the acquisition of items at auctions. These written bids shall be taken into consideration by the respective auctioneer during the auction and must contain at least a starting price and a purchasing limit. Purchase orders must be received in writing by Auctionata by no later than one hour before the auction begins. Purchase orders which are received later may only then be taken into consideration after the auction is over. The prospective buyer may choose whether the purchase order is implemented by a broker or by an auctioneer.

Purchasing Limit:
With regards to a purchase order, a maximum amount must be stated at which the bidder is prepared to acquire the goods. The purchasing limit must be at least the amount of the starting price and will only be exhausted if there is another bidder.

Broker:
The broker is an employee of Auctionata. He shall render bids for customers who bid by telephone. Likewise, upon the respective prospective buyer's request, the broker shall forward purchase orders from the written bidders to the auctioneer during the auction.

Bids by Telephone:
Each prospective buyer shall be at liberty to notify Auctionata in writing that he would like to bid by telephone during the auction. Auctionata shall call the prospective buyer at the telephone number he designates and make it possible for him to participate in the auction by telephone. The conversation shall be conducted by a broker.

Representative:
Each prospective buyer shall be at liberty to commission a person who is not affiliated with Auctionata to bid in his name during an Auction. Insofar as the contractual relationship between the representative and the prospective buyer is not already known to Auctionata, then the contractual relationship must be documented in writing by fax or mail.

Notary:
A notary shall be called in if at least two bids are received of the same amount and at the same time and lots are drawn to decide who has the winning bid. Furthermore, it is the notary's responsibility to review written purchase orders in advance.

Presenter:
The presenter presents the offered item to the auction's audience and reads aloud the catalogue descriptions. In the event that there are deviations between the presenter's oral presentation and the catalogue descriptions or the auction's written announcement, then the written catalogue descriptions shall take precedence. These written catalogue descriptions shall, in turn, be preceded by the auction's written announcement.

Estimated Value:
A valuation is made of the items to be auctioned determines the so-called estimated value. This represents an amount in money which, based upon the professional opinion of our experts, should be obtained during the auction assuming a sufficient number of bidders.

Starting Price:
That is the amount at which the auction will begin.

Fixed Price:
That is the gross purchase price which was agreed for a purchase in the Online Shop. It contains the premium and the applicable VAT. It does not contain the shipping and insurance costs. As a rule, the items are offered for the estimated value in the Online Shop.

Sales Proceeds:
In the event that an auction is held, the sales proceeds comprise the hammer price less all the fees to be paid by the consignor. In the case of a sale of goods in the Online Shop, the proceeds comprise the fixed price less the premium which will be retained by Auctionata and all the fees to be paid by the consignor.

Counter Offer:
Customers may be make the recommendation to the consignor to purchase goods from Auctionata's Online Shop at a lower fixed price. A contractual agreement shall only then be realised when the consignor has approved the offer. The customer shall be bound to his counter offer for seven days. If a third party acquires the goods at the fixed price during this timeframe, the customer's counter offer shall cease to be valid and the purchasing agreement with the third party shall be realised.

Contribution to the Resale Royalty Right:
Due to the legal obligation for the resale royalty according to Sec. 26 German Copyright Law (UrhG) applies, that Auctionata remits the resale royalty because of her membership in the AV Kunst for the Consignor. Through this the Consignor gets relieved from his obligation to pay the resale royalty. Auctionata charges the lump-sum contribution according to the membership in the AV Kunst pro rata as a part of the sales price towards the buyer. Auctionata will hold the charged amounts in escrow and properly remit them to the AV Kunst.

Shipping Insurance:
Auctionata shall purchase shipping insurance for the shipment of all goods. In the event that an insurance claim is filed, the buyer shall be credited with the actual payments made and paid out from the Insurance Agreement. The buyer may also demand that the claims against Auctionata's insurance provider be assigned to him and assert these claims himself.

Overview of Fees:
The fees incurred during the implementation of the business relationship between Auctionata on the one hand and the consignors and the buyers on the other hand shall be regulated respectively in a binding Overview of Fees with an Overview of Fees for Consignors and an Overview of Fees for Buyers.

Premium:
The premium is considered to be that fee specified on the Overview of Fees for Buyers which is added to the hammer price during an auction. Furthermore, it concerns each fee which is contained in the price when goods are purchased from a Onlineshop.

Sales Proceeds:
In the event that an auction is held, the sales proceeds comprise the hammer price less all the fees to be paid by the consignor. In the case of a sale of goods in the Onlineshop, the proceeds comprise the fixed price less the premium which will be retained by Auctionata and all the fees to be paid by the consignor.

English Auction:
With this auction form, the price is successively increased by the submission of at least one bid above the starting price. The starting price is set by Auctionata subject to the consignor's approval and, as a rule, is substantially lower than the estimated value in order to create an incentive for bidders. Bids which do not correspond to theincrements specified by the bidding increments table shall be rounded down to the next lower increment. The tabular list of the increments specified by Auctionata constitutes an integral component of these Business Terms and Conditions.

Valuation:
The value of an item which is offered by Auctionata shall be estimated by experts commissioned by Auctionata. Auctionata offers to valuate five items per person and year upon a free-of-charge basis. Beginning with the 6th item, the valuation shall remain free of charge if the valuated items are, subject to Auctionata's approval, made available to Auctionata for sale within one year's time after the date the valuation was made.

Taxation of the Margin:
The purchase price shall be subject to differential taxation for buyers with their commercial residence within the EU. The taxation of the margin concerns a special form of taxation which is intended for the trading of used items for which it is not possible to deduct the input tax.

Standard Taxation:
If the standard taxation (in German language: "Regelbesteuerung": "RB") applies, then VAT shall also become payable on the purchase price of the goods and shall be billed. If an artwork is labelled with the term "Regelbesteuerung" or the abbreviation "RB" in the online catalogue, then the sale shall be subject to standard taxation.

14. The Buyer
14.1 The Auctioneer may knock down a Lot to the
person who, at his or her absolute discretion, he or
she believes is the highest bidder acceptable to the
Company, subject to any Agreed Reserve. Any dispute
may be determined by the Auctioneer at his or her
absolute discretion and the decision of the Auctioneer
shall be final.
14.2 Every bidder shall be deemed to act as principal
unless prior to the commencement of the Sale there is
a written acceptance by the Company that the bidder
is acting on behalf of a third party and that the bidder is
not personally liable.
14.3 No person shall be entitled to bid at a Sale
without first having completed and delivered to the
Company a bidder registration form acceptable to
the Company and the registration form will include an
acknowledgement by a bidder that they are bound by
these Conditions.
The Company is the agent of the Seller, not the
Buyer, and it is not intended that there be any legal
relationship between the Company and the Buyer.
15. Buyers to satisfy themselves
15.1 Lots are sold on an 'as is' basis and it is the
responsibility of prospective Buyers to examine a Lot
prior to the Sale and to satisfy themselves as to the
condition of the Lot and that the Lot matches any
written or oral description provided by the Seller or the
Company.
15.2 All descriptions provided by the Seller or
the Company are subject to any statements made
by the Auctioneer from the rostrum prior to any bid
being accepted for the Lot and any illustrations in the
Catalogue are solely for the guidance of prospective
Buyers and should not be relied upon in terms of tone
or colour or necessarily to reveal imperfections in any
Lot.
15.3 In bidding for any Lot, prospective Buyers agree
that they have not been induced to make any bid by
any representation, to the extent the representation
is not misleading or deceptive, in respect of the Lot
by the Company, including any representation arising
from a document that has been provided by the Seller
to the Company in association with the Sale of a Lot
and made available by the Company for inspection
by prospective Buyers. If prospective Buyers wish to
rely on any representation made by or on behalf of the
Company, they must advise the Company in writing of
this prior to the Sale.
15.4 If the Company is found to be liable for any
loss or damage suffered, other than in circumstances
where the loss or damage suffered is as a result of the
Company (and its employees or agents) not acting with
due care and skill or the Company (and its employees or
agents) engaging in misleading or deceptive conduct,
(a) the maximum liability of the Company to a Buyer
shall be the Sale Price of the relevant Lot and the
Premium (if paid by the Buyer); or
(b) the maximum liability of the Company to a Seller
shall be the Sale Proceeds of the relevant Lot,
and the Company shall not be liable for any
consequential or indirect loss whatsoever.
15.5 If a Lot is proved to the reasonable satisfaction
of the Company to be a Forgery then the Company
may rescind the Sale as agent of the Seller in which
case the Seller shall refund the Sale Proceeds to the
Company, which will refund the Purchase Price to the
Buyer and make the Lot available to the Seller for
collection provided that:
(a) the Buyer provides written notice to the Company
within 14 days of the auction date of the Forgery
allegations;
(b) the Buyer produces evidence from two
independent experts who both agree that the Lot is a
Forgery, however, the Company reserves the right to
request further expert evidence if, in its sole discretion,
it is not satisfied with the findings by the experts;
(c) the Buyer returns the Lot to the Company in the
same condition as it was at the date of the Sale;
(d) the Buyer warrants that it has not sold or transferred
the Lot nor created any rights in respect thereof in
favour of any third party;
(e) the Seller has refunded the Sale Proceeds to the
Company.
15.6 The benefits of this clause are for the Buyer only
and cannot be assigned.
15.7 Despite clause 15.5 the Company has no
obligation to rescind the Sale and the Buyer shall not
be entitled to rescind the Sale if in the opinion of the
Company:
(a) the description of the Lot in the Catalogue was
accurate at the time of its publication based on the
opinion of an expert in the relevant area of expertise at
that time; or
(b) the only method of establishing at the time of
publication of the Catalogue that the Lot was a Forgery
would have been a scientific process not then in
general usage, or which would have been too costly or
impractical or would have been likely to cause damage
to the Lot.
15.8 If the conditions of clause 15.5 are satisfied
and clause 15.7 does not apply, the maximum liability
of the Company to a Buyer shall be the Sale Price of
the relevant Lot and the Premium (if paid by the Buyer)
but shall not include a refund of storage charges,
insurance, interest and the like, or any consequential or
indirect loss or damage suffered or expense incurred by
the Buyer.
16. Premium
Unless otherwise stated in the Catalogue, the Buyer
shall pay the Company the Premium. The Buyer
acknowledges that the Company may also receive a
Seller's Commission.
17. Contract of sale
17.1 Subject to the Company's discretion, on the
acceptance of a bid by the fall of the Auctioneer's
hammer a contract of sale is made between the Seller
and the Buyer. The Company is not a party to the
contract of sale and shall not be liable for any breach of
that contract by either the Seller or the Buyer.
17.2 Risk of the Lot will pass to the Buyer on the fall
of the Auctioneer's hammer.
17.3 Title to the Lot will pass to the Buyer when the
full Purchase Price has been received by the Company
by way of cleared funds.
18. Payment by Buyer
18.1 At the same time that a prospective Buyer
registers to bid he or she must give the Company
his or her name and address and, if requested by the
Company, banking or other suitable references or
identification and an acknowledgement that they have
read and agreed to be bound by these Conditions.
18.2 The Purchase Price must be paid to the
Company not later than 4.00pm on the second day
after the Sale unless otherwise stated in the Catalogue.
18.3 On the fall of the Auctioneer's hammer, the
successful bidder on any V Lot, and other Lots as
determined by the Company at its absolute discretion,
may be required to provide a deposit equal to 15% of
the Hammer Price, either in cash, approved credit card
or approved bank cheque. If the successful bidder
does not do so then the Company may rescind the Sale
and resubmit the Lot for a Second Auction.
18.4 Absentee or telephone bidders who are
unable to attend a Sale and who wish to bid on any
V Lot and other Lots as determined by the Company
at its absolute discretion may be required to provide a
deposit equal to 15% of the low end of the Estimated
Selling Range (but no less than $500), either in cash,
approved credit card or approved bank cheque prior to
the Sale. In the event that such absentee or telephone
bidders are unsuccessful then the Company will refund
any deposits received within 5 working days from day of
the Sale.
18.5 Full payment for all Lots must be made to
the Company by cash, electronic funds transfer or
approved credit card. Where the Buyer wishes to pay
by bank cheque, personal or company cheque, and the
Company has agreed that the Buyer may do so, a V Lot
will not be released until the cheque has cleared and
other Lots may not be released until the cheque has
been cleared.
18.6 No Lot may be collected until the full Purchase
Price has been received by the Company unless prior
arrangements in writing have been made with the
Company before the date of the Sale, provided always
that ownership of the Lot will not pass to the Buyer until
cleared funds in payment of the full Purchase Price have
been received by the Company.
19. Collection of Purchases
All Lots must be paid for and collected by the second
day after the Sale unless otherwise stated in the
Catalogue. The Buyer shall be responsible for any
removal, storage, or other charges for any Lot after this
day.
20. Responsibility for Lots purchased
20.1 The Buyer shall be responsible for any loss or
damage to, or caused by, a Lot purchased by the Buyer
from the fall of the Auctioneer's hammer and neither
the Company nor its employees or agents shall be
responsible for any Claim while the Lot is in its power,
possession or custody, except where the Company
(and its employees or agents) has not acted with due
care and skill.
20.2 Unless expressly stated in a Catalogue, the
Company has no knowledge of whether a V Lot
complies with the provisions of any road traffic or
maritime Acts and Regulations. The Buyer of a V Lot
who intends to use it on a public road or waterway
shall be responsible for ensuring that it complies with
the provisions of any road traffic or maritime Acts and
Regulations.
20.3 The Buyer shall be solely responsible for
obtaining any export licence that may be required in
connection with a purchased Lot.
20.4 The Buyer of a firearm must obtain any
certificates and licences required by law. The Company
may refuse delivery of a Lot to a Buyer without evidence
of compliance by the Buyer.
21. Non-payment or failure to collect
21.1 If the Purchase Price in respect of a Lot is not paid
for in full in accordance with clause 18, the Company
may, after a period of two weeks (during which time the
Company will attempt to contact the Buyer), and in its
absolute discretion and without prejudice to any other
rights or remedies it may have, exercise one or more of
the following remedies:
(a) re-sell the Lot without reserve by auction, private
treaty or any other means provided that 2 days prior
notice is given to the Buyer who agrees not to challenge
the resale price achieved in respect of the Lot;
(b) remove, store and further insure the Lot at the
expense of the Buyer;
(c) charge interest on the Purchase Price at the rate
of l.65% per month or part thereof from the date upon
which the Purchase Price becomes payable until the
full Purchase Price has been received by the Company
from a resale;
(d) retain any Lot sold to the Buyer at the same or any
other auction until payment of the Purchase Price by
the Buyer;
(e) apply the proceeds of the Sale of any Lot then due
or at any time thereafter becoming due to the Buyer in
payment or part payment of the Purchase Price;
(f) exercise a lien on or exercise a power of sale
over any other property of the Buyer in the power,
possession or control of the Company;
(g) rescind the Sale of that Lot or any other Lot sold by
the Seller to the Buyer at the same or any other auction
sale;
(h) repossess any goods comprising any Lot in respect
of which payment is overdue and thereafter resell the
same, and for this purpose the Buyer hereby grants an
irrevocable licence to the Company to enter upon all
or any of the Buyer's premises (with or without vehicles)
during normal business hours, without prejudice to any
other rights of the Company;
(i) issue legal proceedings against the Buyer;
(ii) reject a bid from the Buyer at any future auction
sale or require the Buyer to pay a deposit before any
bid is accepted by the Company at any future Sale.
21.2 If the Lot is not collected in accordance with
clause 19, the Company may, after a period of two
weeks (during which time the Company will attempt to
contact the Buyer), and in its absolute discretion and
without prejudice to any other rights or remedies it may
have, exercise one or more of the following remedies:
(a) remove, store and further insure the Lot at the
expense of the Buyer;
(b) rescind the Sale of that Lot or any other Lot sold by
the Seller to the Buyer at the same or any other auction
sale.
21.3 The Buyer shall pay all reasonable legal and
other costs reasonably incurred by the Company or
the Seller (whether or not Court proceedings shall have
been issued) as a result of the Buyer's non-payment for
and/or failure to collect a Lot, on a full indemnity basis,
together with interest thereon at the rate specified in
clause 21.1(c) from the date upon which the Buyer shall
have become liable to pay costs.
22. Absentee or commission bids
22.1 An absentee bidder may make an absentee
bid in the form of written instructions directing the
Company to bid on one or more Lots up to a maximum
amount specified for each Lot. The Company will
execute the absentee bid at the lowest possible price
taking into account the Agreed Reserve and other bids.
There is no charge for this service. If identical bids
are left by two or more parties, the first bid received
by the Company will take preference. The Auctioneer
may execute bids for absentee bidders directly from
the rostrum, clearly identifying these as absentee or
commission bids.
22.2 The Company is prepared to execute telephone
bids on behalf of prospective Buyers who are not at the
auction on the condition that the prospective Buyer
acknowledges that taking instructions by telephone
in the course of an auction has inherent risks (such
as miscommunication, misunderstanding or other
problems caused by a telecommunications fault or
failure including a mobile telephone connection falling
out). The Company reserves the right to charge for this
service.
22.3 The Company shall not be responsible for any
errors or omissions in connection with the execution of
absentee or telephone bids.
23. GST
23.1 Interpretation
Words or expressions used in this clause 23 that are
defined in A New Tax System (Goods and Services Tax)
Act 1999 have the same meaning.
23.2 GST and amounts payable to the Company:
(a) All amounts owing by the Seller to the Company
(including, without limitation, the Seller's Commission,
the Offer Fee, the Insurance Fee, and Expenses) under
this agreement do not include GST. If and to the extent
that any amount owing by the Seller to the Company is
consideration for a taxable supply by the Company, the
amount shall be increased by an amount equal to the
GST payable by the Company on that supply.
(b) All amounts payable by the Buyer to the Company
under this agreement (including, without limitation, the
Premium) do not include GST. If and to the extent that
any amount payable by the Buyer to the Company is
consideration for a taxable supply by the Company, the
Buyer must pay to the Company, an additional amount
equal to the GST payable on the supply.
23.3 GST and amounts payable to the Seller
(a) The Seller must, on or before the date of the Sale,
notify the Company whether it is registered for GST,
and if so, must provide its ABN to the Seller at the same
time.
(b) If the Seller notifies the Company that it is
registered for GST in accordance with clause 23.3(a):
(i) the Seller authorises the Company as its agent, to
issue a tax invoice to the Buyer in respect of the Sale of
any Lot which is a taxable supply; and
(ii) on payment of the Sale Proceeds to the Seller in
accordance with clause 10, the Company will:
(A) notify the Seller of the amount of GST included
in the Sale Price for the Lot to enable the Seller to
determine its GST liability on the Sale; and
(B) give the Seller a tax invoice for any taxable
supply made by the Company to the Seller under this
agreement (including, without limitation, any supply
for which the Seller's Commission, the Offer Fee,
the Insurance Fee, and Expenses are consideration)
including any amounts payable on account of GST in
accordance with clause 23.2(a).
23.4 GST on sale of Lot to Buyer
(a) The Sale Price is inclusive of GST (if any) and shall
not be increased any further for any GST payable by the
Seller in respect of the Sale.
(b) If the Seller has informed the Company that it is
registered for GST in accordance with clause 23.3(a),
the Company will, upon request by the Buyer or
otherwise at its discretion, issue a tax invoice to the
Buyer showing:
(i) the amount of GST included in the Sale Price; and
(ii) any amounts payable by the Buyer to the Company
in consideration for any taxable supply made by the
Company to the Buyer under this agreement and any
GST payable on the supply in accordance with clause
23.2(b).
(c) If the Seller does not inform the Company that it
is registered for GST in accordance with clause 23.3(a),
the Sale will be presumed not to be a taxable supply,
and the Company will only issue a tax invoice for any
taxable supply made by the Company to the Buyer
under this agreement (including, without limitation, any
taxable supply for which the Premium is consideration
and any amounts payable on account of GST payable
on that supply in accordance with clause 23.2(b)).
(d) A Buyer of a Lot sold by a GST registered Seller
that is subsequently exported from Australia may be
able to claim a refund from the Company for any GST
included in the Sale Price of a Lot if, within 60 days of
the Sale, the Buyer provides the Company with:
(i) all relevant shipping documents confirming that
the goods have been exported from Australia; and
(ii) evidence to the reasonable satisfaction of the
Company that the Buyer is not registered or required
to be registered for GST in Australia.
However, the Company need not refund any GST
amount to the Buyer under this clause, unless and until
it receives a refund of this amount from the Seller.
23.5 Obligations of non-resident Sellers
(a) This clause 23.5 only applies to Sellers that are nonresidents
of Australia.
(b) The Seller must, on or before any Lot is imported
into Australia for Sale, notify the Company as to:
(i) whether the Seller will be selling the Lot in the
course of carrying on an enterprise; and
(ii) whether the Seller is registered for GST in Australia.
(c) The Seller acknowledges and agrees that the
Company has the right to deduct and retain from the
Sale Proceeds, an amount equal to any GST for which
the Company is or becomes liable to pay in respect
of the importation or Sale of a Lot, including, without
limitation, any GST payable pursuant to Division 57 of
the GST Act.
23.6 Reimbursements (net down)
If a payment to a party under this agreement is a
reimbursement or indemnification, calculated by
reference to a loss, cost or expense incurred by that
party, then the payment will be reduced by the amount
of any input tax credit to which that party is entitled on
the acquisition of the taxable supply to which that loss,
cost or expense relates.
24. Currency converter
The Company may provide a currency converter
for the convenience of bidders. The rates quoted
for conversion of other currencies to Dollars (or the
currency in which the relevant Sale is conducted) are
indicative only and neither the Company nor its agents
shall be responsible for any errors or omissions in the
converter.
25. Governing Law and Jurisdiction
25.1 These Conditions are governed by and shall be
construed in accordance with the law of the State in
which the Sale is conducted ('Sale State').
25.2 The Company, the Seller, the Buyer and any
bidders at the Sale irrevocably and unconditionally
submit to the exclusive jurisdiction of the courts of the
Sale State.
26. Notices
26.1 A notice, demand, consent or approval or
communication under these Conditions ('Notice') must
be:
(a) in writing, in English, and signed by a person duly
authorised by the sender; and
(b) delivered by hand or sent by prepaid post, and by
airmail when sent to a destination outside Australia, or
facsimile or email to the recipient's address as varied by
any Notice given by the recipient to the sender.
26.2 A Notice given in accordance with clause 26.1
takes effect when it is taken to have been received (or at
a later time specified in it), and is taken to be received:
(a) if hand delivered, on delivery;
(b) if sent by facsimile, on receipt by the sender
of the transmission report at the conclusion of the
transmission;
(c) if sent by mail, two days after the date of posting
if posted to an address within the country of posting
and seven days after the date of posting if posted to a
country outside Australia; and
(d) if sent by email, at the time of transmission unless
the sender is notified that the email was undeliverable.
26.3 In proving service by delivery:
(a) by hand, it shall be necessary only to produce a
receipt for the communication signed by or on behalf
of the recipient;
(b) by facsimile, it shall be necessary only to produce
the confirmatory transmission report;
(c) by post, it shall be necessary only to prove that the
communication was contained in a pre-paid envelope
which was duly addressed, posted and, in the case
of the Notice being sent to a destination outside
Australia, was sent by airmail; and
(d) by email, it shall be necessary only to prove that the
communication was sent to the correct email address.
27. General provisions
27.1 The non-exercise of or delay in exercising any
power or right of a party does not operate as a waiver
of that power or right, nor does any single exercise of a
power or right preclude any other or further exercise of
it or the exercise of any other power or right. A power
or right may only be waived in writing, signed by the
party to be bound by the waiver.
27.2 These Conditions constitute the entire
agreement of the parties on the subject matter.
All representations, communications and prior
agreements, to the extent they are not misleading or
deceptive, in relation to the subject matter are merged
in and superseded by these Conditions.
27.3 The parties agree that, if the whole or any
part of any one or more provisions is judged invalid
or unenforceable, that portion will be deemed to be
deleted and will not affect the validity or enforceability
of the remaining provisions.
27.4 Neither party shall be liable for any loss or
damage or be deemed to be in breach of these
Conditions if its failure to perform or failure to cure
any of its respective obligations hereunder results
from any event or circumstance beyond its reasonable
control. The party interfered with shall give the
other party prompt written notice of any such force
majeure condition. If notice is provided, the time for
performance or cure shall be extended for a period
equal to the duration of the force majeure event or
circumstance described in such notice, except that any
such cause shall not excuse the payment of any sums
owed to the Company prior to, during, or after any such
force majeure condition.
28. Privacy Statement
In our dealings with vendors and buyers it is necessary
to collect personal information such as:
(a) Your Name;
(b) Your Company name and ABN;
(c) Your residential address;
(d) Your business address;
(e) Your email address;
(f) Your facsimile number;
(g) Your telephone numbers;
(h) Your Drivers Licence details;
(i) Your credit card details; and
(j) Your bank account details.
When you provide us with your personal information,
we rely on the accuracy of that information. To assist
with the accuracy please contact us immediately if any
of the details provided have changed. We will only use
your personal information for the purpose for which
you have provided it unless you otherwise consent.
We will not disclose your personal information to third
parties unless you consent or where such disclosure is
required or authorised by law.
We will at your request provide access to the
information we hold about you for the purpose of
correcting or updating that information. We will store
your information in a manner that ensures security
against unauthorised access, alteration or deletion at a
level commensurate with its sensitivity.
29. Resale Royalty
The Seller:
(a) acknowledges that he or she understands his
or her legal obligations under the Resale Royalty for
Visual Artists Act 2009 (the Act);
(b) undertakes to comply with all requirements of the
Act, including by providing its agent, the company,
with accurate information sufficient for compliance
with sections 28 and 29 of the Act;
(c) undertakes to indemnify the company for any
loss incurred by the company as a result of the
Seller's failure to comply with any of the Seller's legal
obligations under the Act; and
(d) acknowledges that if he or she fails to comply
with any of his or her legal obligations under the
Act, the company may provide the Seller's name and
contact details to Copyright Agency Limited (CAL).

16. Premium
Unless otherwise stated in the Catalogue, the Buyer
shall pay the Company the Premium. The Buyer
acknowledges that the Company may also receive a
Seller's Commission.

23. GST
23.1 Interpretation
Words or expressions used in this clause 23 that are
defined in A New Tax System (Goods and Services Tax)
Act 1999 have the same meaning.
23.2 GST and amounts payable to the Company:
(a) All amounts owing by the Seller to the Company
(including, without limitation, the Seller's Commission,
the Offer Fee, the Insurance Fee, and Expenses) under
this agreement do not include GST. If and to the extent
that any amount owing by the Seller to the Company is
consideration for a taxable supply by the Company, the
amount shall be increased by an amount equal to the
GST payable by the Company on that supply.
(b) All amounts payable by the Buyer to the Company
under this agreement (including, without limitation, the
Premium) do not include GST. If and to the extent that
any amount payable by the Buyer to the Company is
consideration for a taxable supply by the Company, the
Buyer must pay to the Company, an additional amount
equal to the GST payable on the supply.
23.3 GST and amounts payable to the Seller
(a) The Seller must, on or before the date of the Sale,
notify the Company whether it is registered for GST,
and if so, must provide its ABN to the Seller at the same
time.
(b) If the Seller notifies the Company that it is
registered for GST in accordance with clause 23.3(a):
(i) the Seller authorises the Company as its agent, to
issue a tax invoice to the Buyer in respect of the Sale of
any Lot which is a taxable supply; and
(ii) on payment of the Sale Proceeds to the Seller in
accordance with clause 10, the Company will:
(A) notify the Seller of the amount of GST included
in the Sale Price for the Lot to enable the Seller to
determine its GST liability on the Sale; and
(B) give the Seller a tax invoice for any taxable
supply made by the Company to the Seller under this
agreement (including, without limitation, any supply
for which the Seller's Commission, the Offer Fee,
the Insurance Fee, and Expenses are consideration)
including any amounts payable on account of GST in
accordance with clause 23.2(a).
23.4 GST on sale of Lot to Buyer
(a) The Sale Price is inclusive of GST (if any) and shall
not be increased any further for any GST payable by the
Seller in respect of the Sale.
(b) If the Seller has informed the Company that it is
registered for GST in accordance with clause 23.3(a),
the Company will, upon request by the Buyer or
otherwise at its discretion, issue a tax invoice to the
Buyer showing:
(i) the amount of GST included in the Sale Price; and
(ii) any amounts payable by the Buyer to the Company
in consideration for any taxable supply made by the
Company to the Buyer under this agreement and any
GST payable on the supply in accordance with clause
23.2(b).
(c) If the Seller does not inform the Company that it
is registered for GST in accordance with clause 23.3(a),
the Sale will be presumed not to be a taxable supply,
and the Company will only issue a tax invoice for any
taxable supply made by the Company to the Buyer
under this agreement (including, without limitation, any
taxable supply for which the Premium is consideration
and any amounts payable on account of GST payable
on that supply in accordance with clause 23.2(b)).
(d) A Buyer of a Lot sold by a GST registered Seller
that is subsequently exported from Australia may be
able to claim a refund from the Company for any GST
included in the Sale Price of a Lot if, within 60 days of
the Sale, the Buyer provides the Company with:
(i) all relevant shipping documents confirming that
the goods have been exported from Australia; and
(ii) evidence to the reasonable satisfaction of the
Company that the Buyer is not registered or required
to be registered for GST in Australia.
However, the Company need not refund any GST
amount to the Buyer under this clause, unless and until
it receives a refund of this amount from the Seller.
23.5 Obligations of non-resident Sellers
(a) This clause 23.5 only applies to Sellers that are nonresidents
of Australia.
(b) The Seller must, on or before any Lot is imported
into Australia for Sale, notify the Company as to:
(i) whether the Seller will be selling the Lot in the
course of carrying on an enterprise; and
(ii) whether the Seller is registered for GST in Australia.
(c) The Seller acknowledges and agrees that the
Company has the right to deduct and retain from the
Sale Proceeds, an amount equal to any GST for which
the Company is or becomes liable to pay in respect
of the importation or Sale of a Lot, including, without
limitation, any GST payable pursuant to Division 57 of
the GST Act.
23.6 Reimbursements (net down)
If a payment to a party under this agreement is a
reimbursement or indemnification, calculated by
reference to a loss, cost or expense incurred by that
party, then the payment will be reduced by the amount
of any input tax credit to which that party is entitled on
the acquisition of the taxable supply to which that loss,
cost or expense relates.