CONSIGNMENT TERMS

Please note: Original German text is the authoritative text!

1. The customer confirms that he is the owner of the transferred goods or is authorized to freely dispose over them and that these items are not affected to a lien or any other law to third parties.

2. The Auctioneer acts in the name and for the account of the depositor on the basis of the here printed auction conditions, which are part of this contract. The supplier promises to maintain his offer until the end of the auction. If he takes his auction order back, he is liable for the loss of consigners- and buyers-commissions. The vendor will be given proof, that no damage has been incurred or substantially less than the claim made by the auctioneer. A cancellation of the auction contract is only legally effective with simultaneous payment of the lost commission.

3. From the proceeds of the auction the Auctioneer gets a commission of 20 % from the client. From the estimated price gets the Auctioneer 0.5 % for the insurance and safeguarding of the submitted pieces. Possible costs for testing of individual pieces by an expert auditor will be charged extra.

4. All stamps/coins which are not checked for authenticity may, where necessary, be examined and characterized by authorized specialized auditors to exclude complaints of the buyer. Items that have been clearly identified as a forgery can be flagged by the auditors as such. Within the statutory period of limitation the consigner is liable to the auctioneer for claims by the buyer for legitimate complaints in application of purchase provisions (434 ff. BGB).

5. The client leaves it to the auctioneer, how he, due to his experience, divides the lots and to what extent he determines estimated prices. Sets the auctioneer estimated prices, is he entitled to sell lots 15 % below the estimated price without consulting the client. Lower bids are only accepted with reservation and surcharge only be granted if the customer has agreed to. A limitation of the auction does not take place. A consignment should have a minimum total estimate of 1.000,-- Euro, single lots should not be below 50,-- Euro.


6. Lots which are not sold during the auction can be sold by the auctioneer (to the terms of the auction order and in analogy with the auction conditions) until the final settlement after the auction. Unless explicitly excluded, the terms of this agreement shall also apply to all future consignments. However, this determination can be revoked by either party at any time. Side agreements do not exist.

7. The items consigned for the auction will be treated with the utmost care and will be stored in specially secured rooms and safes. Transport and storage of goods will be carried out on the customer's risk. The consigned items are insured by the Auctioneer against the usual risks of transport and storage at the auctioneer and the auction house. Until the full payment by the auctioneer, the consigned items remain property of the customer.

8. The accounting of the consignment occurs after receiving the money, and after expiry of the complaint deadline, 30 working days after the auction. The payment is made subject to the condition that the auction customer pays his/her invoice. Disbursements of the proceeds will be made to the consigner or an account specified by him. Gold and/or silver items can be sold under the actual gold or silver value (Verst.-VO 1 Nr.6, lit. c).

9. After the conclusion of the purchase agreement, the vendor and the purchaser will be given the name and address of the contractor on demand. On the commission and possible charges will be charged VAT.

10. If the consigner granted advance is not covered by the sale proceeds, the difference shall be repaid no later than three weeks after the auction by the consigner.

11. Performance and jurisdiction, also for a possible contractual rescission, is for everyone involved always Hildesheim.