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1.
Scope and Application of the Terms of
Auction.
The
present terms govern the modalities
according to which Falk + Falk (hereinafter referred to as the
"Auctioneer") shall conduct its auctions. By taking part in an
auction, the Bidder acknowledges and consents to these terms of
auction.
2.
Auction.
The
auction is performed on behalf and
account of third parties.
3.
Exhibition of Lots.
Any
repurchase of items auctioned under
any title is inadmissible. It is therefore advisable to thoroughly
inspect the
items prior to the auction. All the lots listed in the catalogue may be
examined by potential Bidders prior to the auction and during the
publicly
announced preview dates/times. The Bidder shall be liable for any
damage caused
by him/her during such public exhibitions.
The sales estimates in the auction catalogue are not binding and
include
neither the commission as mentioned in Paragraph 9 nor the value-added
tax. The
Auctioneer starts the auction with an opening bid price which is below
the
sales estimate.
4.
Warranty and Guarantee.
The
description of the items to be auctioned
is prepared to the best of the knowledge and beliefs of the Auctioneer,
although this constitutes no warranty with regard to existing
qualities.
Furthermore, the Auctioneer assumes no liability for descriptions,
false
attributions, genuineness and obvious or hidden defects. Books with an
estimated
value exceeding CHF 200 (two hundred Swiss Francs) are collated prior
to
auctioning. Prior to the auction or during the exhibition, a potential
buyer or
an expert of his/her choice may inspect signatures, attributions,
authors, time
periods, age, possible sites of repair, state, completeness, etc. of
the
(item)s and any expertise(s) stated in the text(s), if available. The
items
will be allocated to the highest Bidder in the state that they are in
at the
time of the auction.
There is no warranty whatsoever for defective title and quality.
Complaints
subsequent to the fall of the hammer shall not be considered.
5.
Admittance to the Auction.
Bidders who intend to take part in the auction and who are unknown to the Auctioneer have to identify themselves Prior to the commencement of the auction, the Bidders shall also have acknowledged their potential purchases in a written statement. The Auctioneer is entitled to exclude individuals from the auction without being obliged to state any reasons therefore.
6.
Orders and Bids.
Written
statements of order and bids may
be submitted to the auction staff during the exhibition. Such
statements are
legally binding and irrevocable and may not be withdrawn after
submission to
the Auctioneer. Telephone orders must subsequently be confirmed in
writing,
such confirmations must be in the Auctioneer's possession until
h (
) prior to the commencement of
the
auction at the latest. There is no guarantee for orders sent by
facsimile which
are received subsequent to this deadline. Any faulty transmissions of
orders
have to be borne by the consignor. Any damages / costs resulting from
the use
of the post, telegraph, telephone, telex, facsimile or any other means
of
transmission, in particular from loss, delays, misunderstandings,
garbles or
duplicates and damage resulting from non-identified deficient
authentications
and falsifications will be borne by the Bidder. Maximum prices stated
in orders
do not include the commission (as stated in Paragraph 9), value-added
tax and
any other levies. Order bid forms must be carefully filled out. If the
catalogue
number and the code do not match, the catalogue number shall prevail.
Bids below half of the estimated price shall not be considered. Any
submission
of a written or verbal bid is considered as a binding purchase offer as
long as
that offer has not been overbid or refused by the Auctioneer. The
Auctioneer
may refuse an offer without being obliged to state any reasons.
7.
Sequence of Bids.
The
Auctioning is generally conducted in
accordance with the sequence indicated in the catalogue and the auction
program.
The Auctioneer is, however, entitled to merge, separate and delete
numbers of
the catalogue or offer them in a different order.
Double bids shall immediately be called once again. If there is no
higher bid,
lots are drawn, and in the exclusive presence of written bidding offers
stating
the same price, the order of receipt shall be decisive.
8.
Allocation.
Prior
to the start of the auction, the Bidder
shall receive a bidding number during his/her registration which he/she
will
display when bidding. The item shall be allocated to the highest Bidder
after
calling the item up three times.
The allocation upon written offers is conducted within the stated limit
after
the highest bid in the auction room.
If disagreements as to the allocation can not be settled at once, the
number
shall be offered for sale once again.
The Bidder shall receive one bill for all of his/her purchases.
9. Commission(s).
The following commission(s) must be paid on top of the hammer price:
a)
22 % (excl. VAT) for a hammer price up to CHF 5,000.00
b)
18.5 % (excl. VAT) for a hammer
price between CHF 5001.00 and 50,000.00
These
commissions apply to commercial as
well as private customers / buyers.
10.
Value-Added Tax.
The
governing value-added tax is levied on
the commission and all the other services charged by the Auctioneer to
the
buyer. The hammer price of the lots marked with an * (asterisk) in the
catalogue is also submitted to the value-added tax. If such items are
exported
and are accompanied by a valid export declaration duly issued by the
Swiss
customs, the Auctioneer will reimburse the Swiss value-added tax to the
buyer.
11.
Transfer of Risks and Title.
The
purchaser is personally liable for
his/her purchases and may not assert to have acted on behalf of third
parties
for their accounts, unless the purchaser revealed the name and the
address of
the person duly represented by the purchaser to the Auctioneer by
virtue of a
written power of proxy presented prior to the start of the auction.
With the allocation the risk of the item is transferred to the
purchaser. The
title shall be transferred after complete settlement of the purchase
price, the
commission, value-added tax, costs and potential interests on arrears.
The
purchased items shall be handed over after cash payment. Checks and
credit
cards will not be accepted as forms of payment.
12.
Terms of Payment and Default.
Cash
payment shall be made in Swiss
currency, and it is due immediately after allocation. Any clearing is
inadmissible. If payment is not settled within 14 days after
allocation, the
purchaser shall be in default and is indebted to pay an interest on
arrears of
1 % per month for all his/her debts. If the purchaser is in default
with
his/her liability to pay, the Auctioneer may either insist upon
compliance with
the purchase contract or may, at any time, even if compliance with the
purchase
contract has been insisted upon previously, revoke the allocation
without any
other deadline. With such a revocation, the purchaser forfeits all of
his/her
rights associated with the allocation. All demands for compensation due
to
default are herewith expressively reserved. The purchaser whose
allocation was
revoked shall be liable for any smaller returns of the item which is
either
allocated to another Bidder at the same auction or to a third party at
a later
auction or sold by private contract. There is no claim in case of any
higher
returns.
13. Removal of the Auctioned Items.
The
auctioned items are to be fully
removed within 14 days after the auction. During auctioning, no items
may be
removed; subsequent to afternoon sessions, they may be removed within
certain
limits, but only by non-local purchasers and only following cash
payment. All
bills presented are subject to subsequent inspection and, where
necessary,
alteration. Generally, the items shall be handed over without any
package and
in the state at the time of the auction.
The Auctioneer can arrange package or shipping, however, on written
request and on behalf of the customer. Removal, packaging
and
shipping are the purchaser’s responsibility.
Auctioned
items which have not been
removed within the removal period mentioned in Paragraph 13 here above
shall be
stored at the purchaser’s costs and risks and submitted to a storage
fee
amounting to CHF 2 (two Swiss Francs) per object and per day. The
Auctioneer
does not undertake any guarantee for and assumes no liability for any
items
which have not been removed in due time.
15.
Representations.
People
who bid on behalf of another person
or a body corporate have to present a statement of authority (power of
proxy,
certificate/extract of the registry of companies); the representatives
shall be
personally liable, in particular as to any incurred obligations
associated with
the auction. Bids on behalf of people who have not been identified or
who are
identified only later or on behalf of a not yet existent body corporate
shall
not be considered.
16.
Liability of the Auctioneer.
Any
demands for compensation against the Auctioneer
due to default, impossibility to perform, positive breach of contract,
negligent
breach of contract or unauthorized actions are inadmissible, unless the
damage
has been caused by malicious or grossly negligent actions.
17.
Assistance of the City Magistrate.
The
auction shall be supervised by the
District Magistrate’s Office of Zurich 1 as the assisting authority.
Neither
the District Magistrate nor his/her representative nor the City or
Canton of
Zurich shall be liable for actions performed by the Auctioneer.
18.
Governing Law.
The
auction and all related matters shall
be governed in full by the Swiss Law. Unless separate settlements have
been
made in these auction terms, the provisions of the regulations of the
High
Court of Zurich pertaining to the procedure at voluntary public
auctions dated 19th
of December 1979 shall apply.
19.
Place of Execution and Jurisdiction.