CONDITIONS OF PUBLIC SALE

1. This auction is held publicly and voluntarily in the name and for the account of the auctioneer against immediate cash payment in Euro. Cheques are accepted. However, from customers unknown to us, only confirmed bank cheques will be considered acceptable. Foreign currencies and cheques will be accepted on the basis of the current exchange rate of the Federal Bank (Bundesbank).
2. Lots are knocked down to the highest bidder. The auctioneer reserves the right to refuse to knock down a lot, or to withdraw, recombine or divide lots. The bidding increments are printed in the catalogue. Lots will be sold to the highest bidder upon three calls. Equal bids are determined by drawing lots. In cases of doubt the auctioneer has the right to cancel the knocking down of a lot and to re-offer it.
3. The auctioneer receives a commission from the buyer of 19% of the hammer price plus 2 Euro for each lot purchased. Domestic buyers will also be charged 7% value added tax. The VAT is not due in case of export sales to non-EC countries. Ref.: European Community: Recognized professional buyers from countries of the European Community are obliged to pay tax for the EC-internal purchase in their respective countries. Non-professional buyers will be charged the current German rate of 7% value added tax.
4. Bidders are liable to take over the lots knocked down to them. Once a lot is knocked down, the risk passes on to the buyer immediately, while ownership is passed on to the buyer only after full payment of the hammer price, the buyer’s premium, the lot fee, and VAT, as well as default charges that may be due. The buyer is entitled to the delivery of the auctioned lots only after full payment has been effected. Delivery of the lots purchased will be effected by the auctioneer at the buyer’s cost and risk. Storage of purchased lots on the auction premises from the time of knockdown is made at the buyer’s risk. Storage more than 4 weeks after knockdown will be charged to the buyerl.
5. Invoices to floor bidders are payable immediately. All other invoices are payable upon receipt. If payment is not received within 10 days after the auction or after receipt of the invoice, a late fee of 3% will be charged plus interest rates to the amount of 1% for each month or portion of a month. If the buyer fails to pay promptly or refuses to take the lots, the auctioneer is entitled to sell privately lots that were knocked down to that buyer without further formalities or prior notice in his own name and for his own account, or to put them up for auction again. The default - ing buyer will be held responsible for any deficit in such subsequent sale but has no claim on a possible profit. Also, he is not admitted to any further bids. Persons bidding for third parties are personally liable.
6. The auctioneer is authorized, if necessary, to exercise in his own name all rights resulting from the consignor’s orders and hammer prices.
7. Written orders to bid will be executed conscientiously and safeguarding the client’s interests, but without recourse. In case of a bid “at best” the auctioneer may bid up to five times the start price. Lots marked “Gebot” will be called by the highest bid. In the case of bidding by phone, the auctioneer cannot be held responsible for the establishment of an effective connection. Phone bidders are obliged to bid at least the limitprice.
8. The description of the lots is done conscientiously and with utmost care, but does not represent any particular guarantee in a legal sense. Claims of any kind must be received by the auctioneer within ten days of the handing over or delivery of the lots. The buyer must inform the auctioneer of his intention to have lots expertized before the sale of the respective lots. However, paragraph 5 of these conditions of public sale remains unaffected. Faults or defects that can be inferred from the illustrations (margins, perforation, centering, cancellation, etc.) can by no means be the subject of complaints. Illustrations scale and color can vary. Collections, accumulations, and lots are reviewed and spot-checked by us. They are sold “as inspec - ted.” No claims of any sort may be made with regard to such objects. These lots can be viewed on our premises It is recommended to view them or to have them inspected by third parties. No complaint will be considered if the respective lot has been altered. Alterations, in particular, include removal of hinges, hinge remainders or paper adhesions, immersion in water, treatment with chemicals, and the addition (or removal) of marks of any sort. Only the FALSE sign added by an expert liable for errors is not considered an alteration. Lots already stated to contain faults cannot be returned by reason of further small faults. In case of a justified complaint the buyer will be refunded the complete purchase price upon return of the respective lot. Any further claims to the auctioneer are excluded. The auctioneer is entitled to refer all complaints to the consignor. For the requirement delivery not the figure is determining excluding the text.
9. The deadline for complaints will be considered exceeded if lots are not taken in due time. Bidding for stamps which have already been expertized or for stamps with certificates of recognized experts implies the acceptance of ex - isting expert marks or certificates as decisive. If a bid is made subject to certification by different experts, this must be indicated to the auctioneer 24 hours in advance. As a matter of principle, floor bidders purchase lots “as inspected.” They may only complain about hidden defects. This also applies to purchases made by third parties (bidders’ representatives or auction agents).
10. The bidder has to obtain at his expense an expertise from a recognized expert competent for the respective field to substantiate possible claims. In case of a justified complaint, the consignor will be charged possible fees for expertization. The expertises and marks described in the catalogue are considered decisive also with regard to quality. Any other kind of claim against the auctioneer or the vendors are barred by the statute of limitations after 12 months from the first day of the calendar month following the month the auction was held.
11. Except for collections and accumulations as well as lots that contain mint never-hinged stamps, any lot may be requested for home viewing before the auction. Shipping is effected at the viewer’s risk, and costs and insurance fees will be charged to him. However, customers unknown to us will have to provide excellent references or make a deposit. If the material is not returned on time for the auction, the recipient will have to pay the full hammer price.
12. The auctioneer reserves the right to exclude persons from the auction without giving any reason. Trading or ex - chang ing stamps on the auction premises is prohibited.
13. Claims for damages against the auctioneer for delay, nonperformance, positive infringement of contract, fault in breach of contract or illicit deeds are not permissible, unless the damage was caused deliberately or through gross negligence.
14. Place of execution as well as place of jurisdiction for all parties involved is Stuttgart.
15. With placing a bid or a purchase order, the buyer acknowl - edges that he knows and fully accepts these conditions of public sale. These auction terms also apply to all subsequent (private treaty) sales of auction lots outside the auction.
16. Should one or several of the above conditions be or become invalid, the validity of the other conditions will remain unaffected. An invalid condition shall be replaced by a valid one that comes closest to the economical content and the purpose of the invalid condition.
17. Only German Law is valid. The UN Treaty for contacts concerning international goods sales (CISG) is not appli - cable.

This translation of the "Versteigerungsbedingungen" is provided for information only. The German version is to be taken as authoritative.

Württembergisches Auktionshaus