George Brecht

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Conditions of Sale

1. Sales are done voluntarily on the basis of orders submitted. The auction house acts as on behalf of the seller as an agent.

2. The prices given in the catalogue are estimates, not reserves. The prices the items are called up on, are generally around a third below the estimate. The highest bid is accepted after three calls. In case of disagreements concerning the validity of the highest bid, the auctioneer reserves the right to offer the item once again. He also reserves the right to offer lots out of sequence, to combine lots, to separate them, to pass over them or to accept a bid provisionally. Should a bid bear no relation to the value of the object on offer, the auctioneer can decline the bid. The auctioneer can refuse to accept a bid without giving a reason, if the bidder is not known and no sufficient security has been provided in advance of the sale.

3. In addition to the hammer price, the bidder agrees to pay a buyer's premium of 20 % and on that premium value added tax at a rate of 19% which is added to the price. VAT applies only to the buyer's premium, not to the price of the item bought. The Droit de suite for works of art of the 20th century is already contained in the buyer's premium. Bidders from abroad also must pay the value added tax. As VAT refers to a domestic service, it has to be viewed as a part of the commission and can not be refunded to any foreign buyer.

4. The acceptance of the highest bid leads to a contract of sale between the buyer and the seller. The buyer is liable to payment. He becomes the owner of the item only when full payment has been made.

5. Items acquired will be handed over after payment in cash or by cheque beginning on Tuesday after the auction in the showrooms, Goltsteinstr.23, 40211 Düsseldorf. We kindly ask to contact us via phone in advance. Storage and delivery will be charged to the buyer. Delivery of items acquired will only happen once the entire dues have been paid. The auctioneer is entitled to anull a sale, if the dues have not been paid within three weeks without further extension. In case of default payable interest at bank rates will be charged and the buyer can be charged with damages. In case of a payment delay, the buyer is liable to pay extra costs for the auctioneer such as storage, insurance and possible losses from interest and exchange rates.

6. Bidders who act on behalf of others must notify the auctioneer in advance of the sale and provide the name and address of their client in writing. In case of payment delay they are liable for any damage caused to the auctioneer, even when the invoice is in the name of their client.

7. All items delivered for auction can be viewed and examined during the opening times advertised. All items are used and will be auctioned in the condition at the time of sale. Claims against the auctioneer regarding faults or deficiencies in title are not valid. The descriptions in the catalogue have been made in best knowledge and conscience; they cannot be a regarded as a guarantee nor do they provide condition reports in any legal sense. The exclusion of claims on account of condition faults and legal faults does not apply if the object is fake and the auctioneer could have recognized this on careful examination based on his expertise or on circumstances that have arisen. Claims that have not been excluded have a statutory period of limitation of one year. If the bidder has been buying for a client, reclamations can only be accepted from the bidder.

8. Written bids will be handled by the auctioneer at the lowest possible rate. They must be submitted at least 24 hours ahead of the auction. There can be no guarantee for bids that arrive later to be considered. The bidder is responsible for mistaken orders. The sum submitted in writing must be paid with the additional buyer‘s premium and VAT on the latter.

9. Items acquired at auction will be handed over after payment in Euro.

10. In case of a written request either by the bidder or by the seller after the auction asking for the name and address of the other party, these will be given.

11. The conditions of sale are accepted by the bidder when he or she submits a bid in writing or bids at the auction.

12. German law is applicable in all cases. International regulations do not apply.

13. Should one of the clauses above be invalidated, this does not affect any of the other clauses.

14. Place of settlement and legal venue is Düsseldorf.

15. In the case of disagreement concerning the validity of these conditions, their German version is legally binding.

Dr. Andreas Sturies, Auctioneer