By participating in the auction, the bidder submits to the auction conditions of Rhenus Auktionen P. Bonsera (hereinafter referred to as Rhenus Auktionen) as set out.

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1. STARTING POSITION AND DEFINITION

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The items put up for auction are sold by Rhenus Auktionen in the name and for the account of the Consignor (Seller) to the highest bidder (Buyer). The knockdown is made in Swiss francs and goes to the highest bidder recognized by Rhenus Auctions for the auction. This concludes a purchase contract between the seller and the buyer. The buyer is personally liable for his bids and cannot claim to have acted on behalf of third parties.

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2. AUCTION

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In principle, every bidder is free to participate in a Rhenus Auktionen auction. However, Rhenus Auktionen expressly reserves the right, at its sole and absolute discretion, to refuse admission to the premises or participation in the auctions to any person without stating reasons. Written bids will be accepted up to 1 hour before the start of the auction. Bids for objects with an estimated price of more than CHF 1,000 may also be made by telephone if this has been agreed with Rhenus Auktionen at least 4 hours prior to the start of the auction. Bidders who wish to submit their bids online may participate in the auction via the Internet platform after they have been admitted to the auction by Rhenus Auktionen. However, Rhenus Auktionen reserves the right to reject registration requests without further justification. For online bids within the framework of a live online auction on the Internet, the auction conditions published on the live auction website shall apply. These auction conditions may deviate from those set out here. First-time auction participants must register before the auction using the registration form. A copy of proof of identity and a copy of the credit card must be enclosed with the registration. In the event of late payment, Rhenus Auktionen is entitled to charge the bidder's credit card up to the amount owed plus the card provider's charges, as indicated on the registration form. For bids on objects with a lower estimated value of more than CHF 10,000, Rhenus Auktionen may request proof of creditworthiness in advance. For bids on an object with an upper estimated value of more than CHF 20,000, Rhenus Auctions may require the prior transfer of 25% of the lower estimated value as security. This amount will be offset by Rhenus Auktionen after the auction against the claims of the bidder and the consignor and any surplus will be refunded immediately. Rhenus Auktionen declines all liability for bids of any kind that are not considered. Irrespective of the reason for the non-inclusion. An object offered by Rhenus Auktionen in the course of an auction may be bid out below the minimum sales price agreed with the consignor. Every bid made at an auction constitutes a binding offer. Written bids will be considered according to their time of receipt. The highest bidder shall be awarded the lot as favourably as possible, i.e. one step above the second highest bid. Written bids of the same amount will be considered according to their time of receipt. Written bids submitted directly to Rhenus Auktionen are preferred over equally high written internet bids. A bid remains valid until it is outbid or rejected by Rhenus Auktionen. Until then, the bidder is bound to his bid. Rhenus Auktionen reserves the right to reject any bid without stating the reasons.

Rhenus Auktionen may take back objects consigned and offered for auction or knock them down without sale. Furthermore, Rhenus Auktionen reserves the right to knock down an object only with reservation. If the object is knocked down with reservation, the bidder remains bound to his bid for 14 days. He will be released again if Rhenus Auktionen does not declare the acceptance of the bid as definitive within this period. The auctioned objects can only be handed over after payment has been received in full.

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3. SURCHARGE

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A buyer's premium is payable on the hammer price, calculated as follows:

Surcharges up to CHF 10'000.- 22% (plus VAT).

Surcharges from CHF 10'001.- to 20'000.- 21% (plus VAT)

Surcharges from CHF 20'001.- 19% (plus VAT)

Online bids are subject to an additional surcharge of up to 5% of the hammer price. For online bids, the auction conditions published on the website of the live auction apply. These may differ from those published here.

The buyer has to pay the Swiss VAT of 7.7 % on the buyer's premium. All objects marked with an asterisk (*) in the catalogue are fully subject to VAT. This means that VAT will be charged on the buyer's premium and on the hammer price. For those objects for which the buyer can present a legally valid export declaration, the VAT will be refunded.

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4. LIABILITY

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The objects offered for auction are sold and acquired in the condition in which they are at the moment of acceptance of the bid. The warranty obligation of Rhenus Auktionen ends with the acceptance of the bid. The description of the objects is always made to the best of Rhenus Auktionen knowledge and belief. Rhenus Auktionen cannot accept any liability for the catalogue information despite all due care. The objects offered for auction will be exhibited before the auction. During this exhibition there will be an opportunity to examine the objects. Accordingly, the bidder is requested to form his own opinion as to the correctness of the catalogue information. The printed version of the catalogue in German is authoritative for the descriptions of the objects. If necessary, Rhenus Auktionen consults experts of its choice to form an opinion and relies on their expert opinions. Rhenus Auktionen cannot be held liable for the correctness of such expert opinions. Any warranty for material defects or defects of title is expressly rejected by Rhenus Auktionen. Should an object turn out to be a deliberate forgery or should seriously defects or additions with intent to deceive, which are in blatant contrast to the catalogue description, be subsequently recognized by the buyer, Rhenus Auktionen agrees without legal obligation to cancel the hammer price on behalf of the seller and to refund the hammer price, the buyer's premium and the value added tax. A prerequisite for the refund is the observance of the complaint period of 20 days after receipt of the object. The complaint must be made by registered letter to Rhenus Auktionen. The obligations of the consignor towards the buyer are limited to the same extent as the obligations of Rhenus Auktionen towards the buyer.

 

5. INVOICE AND PAYMENT

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The invoice for an auctioned item must be paid within 7 days of the end of the auction. Payments by credit card are subject to a 3% handling fee, payable by the buyer, which will be added to the invoice amount.

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Account holder: Rhenus Auktionen P. Bonsera

Bank: UBS

Place: 4002, Basel

Country: Switzerland

IBAN: CH84 0023 3233 2978 4401 V

BIC: UBSWCHZH40A

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Rhenus Auktionen may also set off payments made by the buyer against any outstanding debt of the buyer towards Rhenus Auktionen or the consignor contrary to the buyer's instructions and set off any claims of the buyer against them against its own claims. If the buyer is in default of payment, an interest on arrears of 10 % p.a. will be charged on the invoice amount. If Rhenus Auktionen has not received payment for a purchase within 7 days after the end of the auction, Rhenus Auktionen is entitled, without further consultation with the buyer, to charge the invoice amount owned to the buyer's credit card. If the buyer fails to make the payment due or fails to do so within the specified period of 7 days, Rhenus Auktionen may also, on its own name and also in the name of the buyer, charge the invoice amount to the buyer's credit card.

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Consignor may choose to

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(i) continue to demand performance of the purchase contract or

(ii) withdraw from the purchase contract without setting a deadline or claim damages for non-performance. The Purchaser is liable to Rhenus Auktionen and the Vendor for all damages resulting from non-payment or late payment.

Until full payment of all amounts owed, Rhenus Auktionen retains a lien on all objects of the Buyer in its possession. Rhenus Auktionen is entitled to realize such pledges under debt enforcement law or privately (including self-enforcement). The plea of prior realization of the pledge pursuant to Art. 41 of the Swiss Debt Enforcement and Bankruptcy Law is excluded.

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6. OWNERSHIP

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As soon as the purchase price and the buyer's premium (incl. VAT) have been paid in full and Rhenus Auktionen has allocated this payment to the corresponding object, ownership of this object is transferred to the buyer.

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7. COLLECTION SHIPPING AND EXPORT DOCUMENTS

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The auctioned objects can be collected directly after the auction or in the following week by appointment. Rhenus Auktionen does not guarantee the safekeeping of the auctioned items. If the auctioned items are not collected within 10 days, Rhenus Auktionen will store them either at the buyer's expense and risk with a company of its choice or on its own premises at a daily rate of CHF 5 to CHF 10 per item. In this case, the items will only be handed over to the buyer after the invoice and the storage fees have been paid. As a rule, Rhenus Auktionen offers in-house shipping for most of the objects sold. However, Rhenus Auktionen reserves the right to refer to a shipping company depending on the size and sensitivity of an item or if the shipping address indicates possible shipping difficulties. Rhenus Auktionen will take care of all documents necessary for export outside Switzerland. Rhenus Auktionen only accepts transport orders in writing. Unless otherwise agreed in writing, Rhenus Auktionen will insure the consigned objects for transport at the expense of the buyer. Glazed pictures and fragile objects will not be shipped by Rhenus Auktionen.

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8. FURTHER PROVISIONS

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The buyer agrees that Rhenus Auktionen may also receive a commission from the seller. Rhenus Auktionen retains the copyright of the photographs and illustrations created by Rhenus Auktionen. The above conditions are an integral part of every purchase contract concluded at an auction. These Auction Terms and any amendments thereto are governed exclusively by Swiss law.

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9. SUPPLEMENTS AND AMENDMENTS

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Additions or amendments must be made in writing. Even if one of the listed provisions should be invalid, the remaining provisions shall remain valid. Instead of the invalid provision, a provision shall come into force which comes closest to the intended purpose and is legally permissible. The same shall apply in the event of any loopholes in the provision.

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10. JURISDICTION AND APPLICABLE LAW

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Swiss law is exclusively applicable. The place of jurisdiction is Liestal Basel-Landschaft. However, Rhenus Auktionen reserves the right to bring proceedings before any other competent court.