Auction Conditions
AUCTION CONDITIONS
By participating in the sale the following conditions shall be accepted:
1. The sale is conducted in Swiss francs. The highest bidder whose bid is accepted by the auctioneer shall be the buyer. The bidder is committed to his bid unless
his offer is expressly outbidded or declined by the auction house. Should there arise any difference of opinion the auctioneer is free to take a decision at his sole
discretion or put up the lot for sale again. The minimum purchase price (reserve price) indicated by the seller must be observed. Seller shall not bid for their own
lots or arrange for third parties to bid on their behalf. The auction house reserves the right to make commission bids, to bid as an intending buyer or to make bids
on behalf of the seller up to the reserve price.
2. Persons intending to bid have to identify themselves at the registration office to get a bidder number. The auction house reserves the right to require an official
document, a banker's reference and/or securities. The auction house has the right at its own discretion to refuse any person to participate in its auction.
3. The auctioneer at his own discretion has the right to advance the bidding as he may decide or refuse any bid. The auctioneer reserves the right to combine any
two or more lots, to divide any lot, to change the order of the sale, to add any lot and/or to withdraw any lot.
4. To bid in person at the auction the bidder has to give a clear sign to the auctioneer. Commission bids (in the case that the bidder cannot attend the auction) have
to be handed over at least 24 hours before the beginning of the auction in wirting or come (also 24 hours before the sale) in per mail or per fax and have to be
(at the discretion of the auction house) sufficiently clear and complete. Further conditions, that the intending buyer fixes, are invalid. In the case that two identical
commission bids for the same lot should be the highest bids at the sale, the lot should be knocked down to the buyer whose commission bid has been received
earlier. Commission bids are irrevocable and binding. Bids below half of the estimate shall not be accepted. Telephone bids, which are accepted only in a limited
number at the auction house's own discretion, have to be announced 24 hours before the beginning of the auction in writing with all details (personal data, phone
number, relevant lot number etc.). The auction house reserves the right to record telephone bids and phone calls and the bidder agrees that the auction house
is allowed to do so. The auction house is not liable for the failure of any commission bid and/or telephone bid.
5. All buyers shall pay a premium on the "hammer price" (bid price) calculated as follows:
On a successful bid up to CHF 300'000.-: 20%;
On a successful bid more than CHF 300'000.-: 20% on the first CHF 300'000.- and
15% on the difference between CHF 300'000.- and the hammer price.
The stated percentages refer to the "hammer price" of each single item.
Swiss VAT at the present rate of 8% will be charged on the premium and on all other amounts payable by the buyer to the auction house. VAT is also payable by
the buyer on the "hammer price" for lots marked with an asterisk «*» in the catalogue or on a leaflet or for lots the auctioneer especially points out during the
auction (in such cases the auction house can act as commission agent); if such lots are exported to foreign countries the Swiss VAT will be refunded to the buyer
on production of a legally valid official Swiss export declaration (with original stamp of the Swiss customs authorities) for the object bought at the auction. The
buyer (bidder) agrees that the auction house receives a commission from the seller.
6. Payment in Swiss francs is due immediately after allocation. Compensation is excluded. Buyers are personnaly liable for their purchases and may not claim to have
acted on behalf of a third party.
7. The auction house shall be entitled to charge a monthly interest of 1% on the purchase price to the extend such amount remains unpaid for more than 14 days
from the date of the sale. Furthermore, after this period the auction house shall be entitled to hand over unpaid invoices to a collecting agency.
8. If a buyer fails to pay at all or pays not in time, the auction house is entitled to either ask for performance of the terms of the sales contract or to cancel the sale of
the lot without notice. In any case, the buyer shall be liable for any damage caused by nonpayment or late payment, particularly if the lot is resold at a lower price,
be it that the object is re-sold to another buyer at the same auction or to a third buyer at a later auction, or that the object is re-sold by private sale. The auction
house shall be entitled at its absolute discretion to decide about the action to be taken regarding the object. The buyer whose allocation has been cancelled shall
have no right to raise a claim on the possible sum in excess of the former purchase price.
9. The buyer acquires title upon full payment only; risk passes to the buyer upon the striking of the hammer. It is hereby stipulated that the auction house has a right
of retention and a lien over any of the buyers property which is in the possession of the action house or of any affiliated company for any reason until payment of
all out standing amounts due to the auction house (whatever is the transaction, especially the hammer price, the premium, VAT, all other amounts payable by the
buyer to the auction house and interests) has been made in full. Payment by cheque is deemed to have been effected on receipt of a written bank confirmation.
10. The objects shall be auctioned in the condition in which they are at the moment of the allocation. During the exhibition the objects may be examined thoroughly.
Any oral and written comments are statements of opinion only which may be revised at any time and are not warranties, guarantiees, conditions or the like.
Any implied warranties, guarantiees or conditions are excluded. The prices indicated are non-binding estimates and do not include the premium or VAT. The
auction house (and any affiliated company or person) and the principal or seller are not liable for such comments, in particular not for errors or omissions in such
representations, illustrations, attributions, authorship, origin, age, provenance, weight, completeness, condition and/or the genuineness of the object and for any
evident or hidden imperfections.
11. Any liability for any legal or physical flaws is excluded.
12. If, in any particular case, the auction house is prepared by way of exception to cancel acceptance of the bid by reason of substancial defects in the item of question
(e.g. later discovery of forgery), this is done voluntarily and without legal obligation. Favour of this kind cannot be used to justify claims in other cases.
13. The auction house does not warrant for the storage of any lot. Packing, handling and shipment is the buyer's responsibility. Later than two weeks after the sale the
auction house is entitled to store the lot or cause it to be stored without notice whether at their own premises or elsewhere at the sole expense of the buyer. If
the auctionhouse undertakes packing, handling, shipment and/or storage, this will be done at the buyer's cost and without liability on the part of the auction house.
14. The auction goods shall be sold in the name of and for the account of a third party. The buyer or successful bidder shall not have the right to be informed of the
seller and the consignor's commission. Subject to the requirements of tax legislation and para 5 above.
15. These conditions apply to each bid and sales contract. Alterations or amendments will be valid only if they are made in writing. Only the German version of these
conditions is authentic.
16. Any dispute regarding the execution, non-execution and/or the interpretation of the contract and the auction conditions shall be decided by Swiss law
exclusively. Place of performance is Lucerne and court of exclusive jurisdiction is the district of the town of Lucerne.
GALERIE FISCHER AUKTIONEN AG, LUCERNE
CONDITIONS FOR THE SILENT AUCTION
By taking part in the auction, the following conditions are acknowledged to be primarily applicable in addition to the auction conditions:
1. The auction house organizes a silent auction for the objects listed on the blue pages in the auction catalogue (identified as "Objekte der stillen
Auktion" in the heading). Bidders may only submit (written) commission bids for this silent auction (see section 4 of the auction conditions). The
relevant objects are not offered for sale (verbally) during the auction; no personal or telephone bids can therefore be accepted for these lots.
2. To be valid, bids for these objects must be delivered personally in writing by the closing date published in the catalogue or reach the auction house
by post or fax; such bids must be clear and complete in the view of the auction house.
3. These conditions, together with the auction conditions are an integral part of each individual bid and purchase contract concluded by the auction
house. Alterations or amendments will be valid only if they are made in writing. Only the German version of these conditions is authentic.
GALERIE FISCHER AUKTIONEN AG, LUCERNE
