Conditions of Sale
Conditions of Sale for the auction on 8 July 2020
1. The art auction house, KvS Auctions GmbH (henceforth referred to as KvS Auctions), conducts public auctions in terms of § 383 paragraph 3 sentence 1 of the Commercial Code. It acts as a commissioning agent for the account of submitters, who remain anonymous, or as a representative in the name and for the account of submitters (items marked with "K"). With regard to its auctioneering terms and conditions drawn up in other languages, the German version shall be definitive.
2. KvS Auctions reserves the right to divide or combine any catalogue lots or, if it has special reason to do so, to offer any lot for sale in an order different from that given in the catalogue or to withdraw any lot from the sale.
3. All lots put up for sale may be viewed and inspected prior to the auction. The catalogue specifications and related specifications appearing on the internet, which have both been compiled in good conscience, do not form part of the contractually agreed to conditions. These specifications have been derived from the status of the information available at the time of compiling the catalogue. They do not serve as a guarantee in legal terms and their purpose is purely in the information they provide. The same applies to any reports on an item's condition or any other information, either in oral or written form. Certificates or certifications from artists, their estates or experts relevant to each case only form a contractual part of the agreement if they are specifically mentioned in the catalogue text. The state of the item is generally not mentioned in the catalogue so that missing specifications do not constitute an agreement on quality. All items will be sold in the state and condition prevailing when a bid is accepted.
4. Warranty claims are excluded. In the event of variances from the catalogue descriptions, which result in negation or substantial diminution of value or suitability, and which are reported with due justification within one year after handover, KvS Auctions nevertheless undertakes to pursue its rights against the seller through the courts. The catalogue text in German is definitive. In the event of a successful claim against the seller, KvS Auctions will reimburse the buyer only the total purchase price paid. Over and above this, KvS Auctions under takes to reimburse its commission within a given period of three years after the date of the sale if the object in question proves not to be authentic and the object is returned unchanged.
5. Claims for compensation as the result of a fault or defect in the object auctioned or damage to it or its loss, regardless of the legal grounds, or as the result of variances from the catalogue description or statements made elsewhere due to breach of due diligence according to §§ 41 ff. KGSG [law for the protection of cultural goods] are excluded unless
KvS Auctions acted with willful intent or gross negligence; the liability for fatality, injury or harm caused to health or life remains unaffected. In other regards, point 4 applies.
6. Submission of bids. Bids in attendance: The floor bidder shall receive a bidding number on presentation of a photo ID. KvS Auctions reserves the right to approve bidders for the auction. If the bidder is not known to KvS Auctions, registration must take place in writing with presentation of a current bank reference 24 hours before the auction is due to begin. Bids in absentia: Bids can also be submitted either in writing, by telephone or via the internet. Bids placed in absentia must reach KvS Auctions 24 hours before the auction to ensure the proper processing thereof. The item must be specified in the bid placed, together with the lot number and item description. In the event of ambiguities, the listed lot number becomes applicable. The placed bid must be signed by the applicant. The regulations regarding revocations and the right to return goods in the case of distance agreements (§ 312b-d of the Civil Code) do not apply. Telephone bids: Establishing and maintaining a connection cannot be guaranteed. In submitting a bid placement, the bidder declares that he agrees to the recording of the bidding process. Bids via the internet: They will only be accepted by KvS Auctions if the bidder registered on the internet website beforehand. KvS Auctions will treat such bids in the same way as bids in writing.
7. Carrying out the auction: The hammer will come down when no higher bids are submitted after three calls for a bid. Where there is good cause, the auctioneer reserves the right to bring down the hammer or refuse to accept a bid. If several individuals make the same bid at the same time, and after the third call, no higher bid ensues, then the winning bid shall be decided by drawing of lots. The auctioneer can retract his acceptance of the bid and auction the item again if a higher bid submitted on time was accidently overlooked and this is immediately challenged by the bidder, or if any doubts regarding its acceptance arise. Written bids shall only be applied by KvS Auctions to the extent deemed necessary to outbid another bid. The auctioneer can bid on behalf of the submitter up to the agreed limit, without revealing this and irrespective of whether other bids are submitted.
Even if bids have been placed and the hammer has not come down, the auctioneer is only liable to the bidder in the event of premeditation or gross negligence.
8. Once a lot has been knocked down, a contract between the auctioneer/submitter and the bidder comes about (§ 156 sentence 1 of the Civil Code). The successful bidder is obliged to buy the item. If a bid is accepted conditionally, the bidder is bound by his bid until four weeks after the auction unless he immediately withdraws from the conditionally accepted bid. From the fall of the hammer, possession and risk pass directly to the buyer, while ownership passes to the buyer only after full payment has been received.
9. A premium of 29% shall be charged on the hammer price
9.1 The hammer price and premium already include the value added tax, which shall be disclosed separately in the invoice, except in cases of the margin scheme within the meaning of § 25a of the Sales Tax Act. Items not specifically marked are governed by the margin scheme. Items marked with a "G" are subject to standard taxation and the current 16% VAT rate. Items marked with a "K" are also subject to standard taxation but the hammer price includes the reduced VAT rate of currently 5% and the premium includes the current statutory rate of 16%.
9.2 Exports to third (i.e. non EU) countries will be exempt from VAT, and so will exports to companies in other EU member states if they state their VAT identification number. If a buyer personally exports an object to a third country, the VAT will be refunded, as soon as KvS Auctions receives the export and import papers. All invoices issued on the day of auction or immediately thereafter must be checked; errors and omissions excepted.
10. Successful bidders attending the auction in person shall pay KvS Auctions the final price (hammer price plus premium) immediately after the auction. Payment by purchasers not present, who have bid in writing or have been represented, shall not be deemed late if received within 10 days of the invoice date despite immediate payment being owed. Bank transfers are to be effected exclusively in euros. The request for an alteration of an auction invoice to a person other than the bidder has to be made immediately after the auction. KvS Auctions reserves the right to refuse such a request.
11. In the case of payment default, KvS Auctions will charge 1% interest on the gross price per month. In the event of defaults in payment, KvS Auctions may in its own name or as the submitter's representative insist at its discretion on performance of the purchase contract or, after allowing a period of grace, claim damages instead of performance. In the latter case, the amount of damages may be determined by putting the lot up for auction again and the defaulting buyer will be liable for and bear the amount of any shortfall in the proceeds compared with the earlier auction, plus the cost of resale, including the premium.
12. Buyers must take possession of their purchases immediately after the auction. Once a lot has been sold, KvS Auctions will only be liable for loss and damage if there was willful intent or gross negligence. Lots will not, however, be surrendered to buyers until full payment has been received. Without exception, shipment will be at the expense and risk of the buyer. Purchases which are not collected within four weeks after the auction may be stored and insured by KvS Auctions on behalf of the buyer and at its expense on the premises of a freight agent. If KvS Auctions stores such items itself, it will charge 1% of the hammer price as insurance and storage costs.
13. As far as this can be agreed, the place of performance and jurisdiction is Berlin. German law applies; the German law for the protection of cultural goods applies; the provisions of the United Nations Convention on Contracts for the International Sale of Goods (CISG) are not applicable. Should any provision herein be wholly or partially ineffective, this will not affect the validity of the remaining provisions.
Dr. Kilian Jay von Seldeneck, sworn public auctioneer
