in the catalogue
usually differ from the size of the originals. They can also differ
for technical reasons.
On Approval. Shipments on approval
cannot be made. For further information you can contact us anytime. Upon
request we provide digital images
Absentee order bids. Where bidders
are unable to attend the sale, we will be pleased to enter their
order bids without charge. Bids by telephone, fax and
e-mail require written confirmation. The maximum bid given is without
the buyer’s premium and VAT. Such bids will be executed at
the lowest possible price taking into account the reserve price
and other bids. Written bids have to come to our hands at least
two days prior to the sale in order to guarantee proper execution.
To submit your absentee bids in an easy way, you may use our website.
Telephone bidding is possible on lots with a minimum estimate of € 5,000.-. Written confirmation 2 days prior sale requested. We also suggest that you leave a written
bid which we can execute on your behalf, just in case we are unable
to reach you by telephone. Inquiries under 0049-(0)6174-92 72 36.
If foreign cheques are accepted, we will charge a bank fee of € 15.- and property will not be released until such cheques have cleared.
Collection of purchased lots should
be made within the first week following the sale in order to avoid
storage charges. Collection during the sale is generally possible.
In any case purchasers must ensure that prior payment has been made.
No pre-information about successful bids is forwarded to the buyer. Invoicing takes approximately 4 weeks.
Shipment. Shipping instructions
should be given in writing with your order bid. Shipping, handling
and insurance are billed separately. We will do our best to deliver
goods as soon as possible. Delivery of all goods usually takes approximately
four weeks. We ask for your kind understanding for any short delay.
Framed objects usually are sent unframed. Great quantities and bulky
items are to be collected. Upon written request we instruct a shipping
company to effect packing and forwarding of such items.
Credit cards only accepted for catalogue
payment (Mastercard or Visa).
Auction Results. List of prices
realized will be published about two weeks after the sale and will
be forwarded to everybody having paid for the catalogue.
Hotel reservations. We recommend
to make reservations as early as possible. We are happy to assist
you if needed. List of hotels, plan of Königstein and map with
the surroundings of Frankfurt at the end of the printed catalogue
1. Reiss & Sohn
oHG (hereafter also referred to as "Auctioneer") auctions
objects ("Objects") supplied by sellers ("Sellers")
as commission agent in its own name but on the account of the
Seller, except for Objects in which the Auctioneer has an ownership
interest, which are specifically marked.
2. The purchaser ("Purchaser")
shall make immediate cash payment in Euro. Public institutions
and libraries are granted a payment term of four weeks. Other
terms for payment require agreement on a case-by-case basis.
3. At the Auctioneer's discretion,
Objects will normally be offered at an opening price of approximately
two thirds of the appraisal value, unless the Seller has set a
higher reserve price. Bids at less than half of the appraisal
value will not be accepted. Higher bids may be submitted in increments
of 5% to 10%, at the Auctioneer's discretion. The highest bid
wins, if no higher bid is submitted before the highest bid has
been called out three times. If equal bids are submitted, lots
shall be drawn. If a dispute regarding the acceptance of a bid
cannot be resolved immediately, the Object shall be offered again.
4. The Auctioneer reserves the
right to knock down Objects subject to confirmation, to divide
or to combine separate catalogue numbers, to auction Objects in
an order which is different from that originally announced and,
for good reason, to withdraw an Object. The Auctioneer shall be
entitled to refuse bids unless suitable security or references
shall have been provided prior to the auction.
5. The Purchaser shall pay a
premium of 17% on the hammer price; VAT shall be imposed on the
sum of the premium and the hammer price at the reduced rate of
currently 7% (19% for items marked with a *, i.e. serigraphs and
photographic work). Purchasers from countries outside the European
Union shall be reimbursed for VAT upon submission of proof of
export; in the case of shipment by the Auctioneer such proof shall
be considered received. Purchasers from Member States of the European
Union are subject to (German) VAT unless they are entitled to
receive tax-free inner-Community deliveries by providing their
verifiable VAT identification number.
For works of art (after 1900), the costs resulting from the droit
de suite under sec. 26 of the German Copyright Act shall be charged
to the Purchaser proportionally at a rate of 1,1% of the accepted
6. The acceptance of a bid shall
oblige the Purchaser to accept and pay for the Object concerned.
The Purchaser shall be deemed in default two weeks after the invoice
date. Title to the Object shall be pass to the Purchaser upon
full payment. The Purchaser shall collect the Object within a
maximum of two weeks from full payment, thereafter the Purchaser
shall be deemed in default of acceptance; in this case, the Auctioneer
shall be entitled to store the Object with an art shipper and
insure it at the Purchaser's expense. If the Auctioneer is instructed
in writing to ship the Object, it will do so at the Purchaser's
expense and, if the Purchaser acts as a business, at the Purchaser's
risk, and arrange for the transport to the Purchaser with commensurate
insurance. Framed objects usually are sent unframed. Great quantities and bulky items are to be collected. Upon written request we instruct a shipping company to effect packing and forwarding of such items. All shipments should be unpacked and checked on delivery regarding damages caused during the transport and any discrepancies notified to the auctioneer immediately. The shipment shall be made after receipt of all amounts
due from the Buyer. Delivery shall be made upon full payment.
7. All costs of money transfer
are at buyer’s expense. The purchase price (hammer price;
premium; VAT) shall be subject to default interest at the rate
of 1% for each month or part of a month. For payments in foreign
currency and losses due to exchange rate fluctuations
and bank charges shall be borne by the Purchaser.
In case of default, the Auctioneer may either demand
specific performance of the contract of sale or withdraw from
the contract of sale after an adequate grace period has elapsed.
In the latter case, the Auctioneer may either demand indemnification
for non performance equivalent to the amount of the bid (seller's
commission plus surcharge) or put the Object up for auction again
and charge the Purchaser for any resulting loss whereby the Purchaser
shall not be entitled to a share in any resulting profit nor be
entitled to bid in such second auction.
8. All Objects put up for the
auction may be viewed and examined at the stipulated times prior
to the auction. Such Objects are, without exception, used and
their condition is commensurate with their age, usage and provenance
although this condition is not always mentioned in the catalogue.
The actual condition of the Objects when the hammer falls - including
paper discoloration, missing pages, the lack of original binding
or closings as well as notes from prior owners or similar (signatures,
ex libris, stamps) - shall be deemed part of the agreed specifications
of the Objects.
The catalogue descriptions - in German and/or English - shall
be provided to the best knowledge of the Auctioneer but shall
serve exclusively for information and description of the Objects.
They shall not be deemed part of the agreed specifications of
the Objects, even if the Objects are highlighted in the catalogue
or are advertised outside of the catalogue. However, all catalogue
particulars concerning the authorship, the signature, the technique
and the specifically emphasized completeness of the Object at
issue ("collated") shall be deemed part of the agreed
specifications of the Objects. The Auctioneer in any event shall
not be deemed to have given any particular guarantees in this
regard which would result in additional Purchaser's rights, nor
shall the fact that certain specifications shall be deemed part
of the agreed specifications of the Objects lead to liability
on the part of the Auctioneer which is stricter than that foreseen
9. Claims should be registered
within three days of receipt of Objects, at latest within five
weeks after the sale. If, before expiry of the period of limitation
- which shall be one year from the date of delivery, except in
cases of the intentional violation of the law - the Purchaser
proves the incorrectness of any catalogue particulars provided
by the Auctioneer which are part of the agreed specifications
of the Objects as stipulated in Clause 8, the Purchaser shall
be reimbursed for the full purchase price upon demand. The Purchaser's
claims for damages (including disbursements) based on warranty
including material defects or defects in title, loss of or damage
to the Objects as well as other legal grounds shall be excluded
except where the Auctioneer acted intentionally or with gross
negligence or violated essential contractual obligations. The
liability for damage to life, body or health shall remain unaffected.
Liability for unforeseen or remote damages shall in any event
10. The Auctioneer will accept
written bids at no cost. Bids by telephone, telegraph, fax and
e-mail shall require written confirmation at least 48 hours prior
to the auction. The Auctioneer assumes no liability for the processing
of bids made in absentia. In particular, the Auctioneer shall
not be liable for establishing and/or maintaining telecommunication
connections or for errors in communication or transfer, except
in cases of intent or gross negligence. In the event of written absentee bids, the bidder instructs the auctioneer to bid on his behalf. In the event of telephone bids, a telephonist present in the auction room is authorised to submit bids on instruction of the telephone bidder. The post-auction sale is considered as a part of the auction itself in which the bidder gives Reiss & Sohn the order in writing or by telephone with an assigned value. The legal provisions concerning distance selling (§§ 312 b - d BGB) shall not apply.
11. Place of performance and
place of jurisdiction – to the extend these may be chosen
by the parties under the relavant statutory requirements –
shall be Königstein i.T., Germany. Only German law shall
apply; the provisions of the Hague Conventions Relating to a Uniform
Law on the International Sale of Goods and the Convention on the
International Sale of Goods (CISG) do not apply.
12. These Terms of Auction shall
also be valid for the post-auction sale of Objects which were
not sold in the auction.
13. Should one of these provisions
be or become completely or partially invalid, it shall not affect
the validity of the remaining provisions.
14. These Terms of Auction are
available in a German and an English version. In the event of
any inconsistency, the German version shall control, in particular
with regard to the interpretation of statutory terms and catalogue
The Auctioneer: Reiss & Sohn oHG