Conditions of committal
Terms of consignment
made by and between
Auktionshaus Rütten GmbH
Managin and auctioneer: Elke Rütten
Member of the Bundesverband deutscher Auktionatoren e.V.
Nymphenburger Strasse 133 + 135
Phone: ** 49 (0) 89 12 71 51 00
Fax: ** 49 (0) 89 12 71 51 02
(hereinafter referred to as the „Auction House“ or „Auctioneer“)
(hereinafter called the “Seller”)
Section 1 Subject matter of the contract
The Seller entrusts the Auction House with the sale of the movable, second-hand and/or antique objects specified in the attached list, as agent and on commission, at public auction on a voluntary basis, to the highest bidder, and authorises the Auction House to sell them by private contract and transfer the ownership of these objects to the buyer.
Any items left unsold at the auction shall remain with the Auctioneer for a period of six weeks after the auction, to be sold by private contract. The Terms and Conditions of Auction shall apply analogously.
By signing this contract, the Seller represents and warrants that she is the sole owner of the consigned objects or the agent authorised by the owner to sell them, that she has obtained them lawfully, and that no other party has any rights thereto.
The data provided by the Seller about the age, origin, size, weight, condition (damage) and authenticity of the property to be auctioned are correct to the Seller’s best knowledge and belief. The Seller fully guarantees the correctness of such data. In the event of any claims or proceedings brought against the Auctioneer, the Seller undertakes to advance money or to bear necessary costs and expenses including the fees of any required expert’s reports.
Section 2 Consignment, storage and insurance of the property to be auctioned
At the request of the Auctioneer, the Seller shall submit the property to be auctioned to the agreed venue at her own expense and risk.
The storage and safekeeping of the submitted property by the Auction House is free of charge, unless such property has to be stored at a forwarding company or unless additional warehouse place must be rented. A written agreement on the assumption of such extra costs shall be made by the parties.
Section 3 Auction prices
The reserve prices and the auction estimates are laid down in the auction contract and need not be identical. The reserve price is the lower limit for acceptance of bids or sale by private contract.
Lots entered without a reserve price will be called at € 20.
Property to be auctioned can be called below the agreed reserve price. Any knock-down made below this price is subject to reservation, and the bid shall be binding on the buyer for four weeks.
The Seller is required to immediately let the Auctioneer know whether she accepts the bid.
In the event that no reserve price has been fixed, the knock-down will be awarded at the Auctioneer’s due discretion.
The estimated price specified in the auction contract shall not be binding on the Auctioneer.
Section 4 The Seller’s order will be carried out on the following conditions:
1. The property will be sold on behalf of the seller and for her account.
2. Gold and silver products may be knocked down below their value in gold and silver.
3. The Auction House collects the proceeds of sale, transfers the ownership of the auctioned property to the buyer and exercises all the rights in this connection. For this purpose, the Seller shall assign her claims against the buyer to the Auction House. The Auction House shall only be liable for the proceeds of sale after delivery of the property to the buyer.
Section 5 The Auctioneer shall receive a commission at the rate of 20 percent on the hammer price plus VAT levied on this commission. Other commission rates must be agreed in writing.
Section 6 The Seller shall reimburse the Auction House for the costs relating to catalogues and photographs, promotional measures (ads, internet advertising) and insurance (fire, water damage, burglary, increased insurance coverage for jewellery and objects in display cabinets), at the rate of 3 percent plus VAT on the reserve or auction price. Reimbursement will not below € 5.00 each for the consigned lots. This lump-sum reimbursement shall be due irrespective of whether the Seller withdraws her order, unless the consignor provides evidence that no expenses have been incurred or that the Auctioneer’s expenses have been much lower.
Section 7 No extra fees will be charged if the consigned property is left unsold.
Section 8 If the Seller asks for a valuation of her property by a publicly appointed and sworn expert, she shall bear the costs of such valuation.
Section 9 If objects subject to the provisions of the Artist’s Resale Right according to section 26 of the German Copyright Law (up to seventy years after the artist’s death in case of works of fine arts) are sold, the Auctioneer is entitled to collect the statutory charge and to pay it to the utilization company Bild Kunst located in Bonn.
After settlement of the Seller’s claims, the Seller may be asked to pay this charge to the Auction House. Alternatively, the utilization company Bild Kunst can be informed of the consignor’s address.
Section 10 Turkey carpets, rugs and gallery carpets will only be accepted after dry cleaning at the consignor’s expense.
Section 11 The Auctioneer is entitled to refuse or revoke knock-downs or to award them subject to reservation. Where a limit is not reached, a knock-down may granted at 10 percent below the reserve price without reservation. Otherwise, knock-downs shall be awarded only subject to reservation.
Section 12 The Seller’s order will expire on 12 of August 2011, without formal cancellation. At that time, a new agreement shall be made by the parties on the handling of the lots left unsold. If no such agreement is made, these lots shall be collected by the consignor not later than ten days after termination of this contract. The Auctioneer shall have the right to entrust a forwarding company with the storage and return of such lots for the Seller’s account and risk. If there is no need to withdraw the lots from the Auctioneer’s warehouse, monthly storage and insurance charges will be € 20 per lot.
Section 13 In the event that the order is cancelled partly or completely prior to the auction, the Seller shall pay to the Auction House compensation of 25 percent of the estimated value of the lots withdrawn together with VAT thereon. The consignor may provide evidence that no loss has been incurred by the Auctioneer or that the loss incurred has been far below the above amount.
Section 14 Settlement and payment to the Seller
The Auction House will render an account of the proceeds of sale not later than six weeks after the day the auction was held or the property was sold by private contract. Payment of the amount due to the Seller will be made provided the Auction House is in receipt of the buyer’s payment of the knock-down awarded or the hammer price.
Any objections to the settlement of account shall be made in writing within ten days from the date of invoice.
Section 15 The Auction House has a lien on the property consigned by the Seller and is entitled to exercise this lien whenever the Seller defaults in the reimbursement of expenses incurred by the Auction House.
Section 16 The Auction House acts as agent for the Seller. The Seller is therefore responsible for payment of any VAT to the local tax office.
Section 17 Liability
Compensation claims due to violation of contractual obligations and tortuous acts against the Auctioneer are limited to wilful intent and gross negligence. This does not include acts damaging life, body and health nor violation of essential contractual obligations (obligations resulting from the nature of this contract, whose violation jeopardizes its objective) and damage caused by default. Liability in case of violation of essential contractual obligations is restricted to predictable loss therefrom. If liability for ordinary negligence has not been ruled out, such compensation claims expire one year after their origin.
Section 18 The attached Terms and Conditions of Auction are an integral part of the Seller’s Contract.
Section 19 Except as otherwise provided by law, the place of fulfilment and payment shall be our commercial domicile.
Section 20 In the event that the consignor is a businesswoman or if she has no general place of jurisdiction in Germany or in another EU member state, our commercial domicile shall be the exclusive venue for the settlement of disputes arising out of this contract.
Section 21 German law shall apply.
Auktionshaus Rütten GmbH
Elke Rütten __________________________
Managin and auctioneer - Consignor -
Authorised auctioneer since 1990