By participating in the auction the bidder accepts the following auction conditions of Koller Auctions Ltd ("Koller"):
1. Legal status of the parties
The auction items are auctioned by Koller in the name and on the account of the seller ("Seller"). The bid in Swiss francs is accepted from the highest bidder ("Purchaser") recognised by Koller in the course of the auction resulting in the conclusion of a purchase contract between the Seller and the Purchaser.
2. Surcharge
2.1 In addition to the bid price, the Purchaser must pay a surcharge on such bid price calculated as follows:
(i) on a successful bid of up to CHF 10 000: 25 %;
(ii) on a successful bid over CHF 10 000 up to CHF 400 000:
25 % on the first CHF 10 000 and 20 % on the difference between CHF 10 000 and the bid.
(iii) on a successful bid over CHF 400 000: 20 % on CHF 390 000 and 15 % on the difference between CHF 400 000 and the bid.
2.2 If the winning bid is placed in the course of an internet live online auction (?Live auctions“), there will be an additional 3% added to the surcharge.
2.3 The Purchaser must pay Swiss value added tax ("VAT") on the surcharge. The stated percentage of the surcharge relates to the successful bid for each individual item.
2.4 The full tax is charged on all items marked * in the auction catalogue, i.e. VAT is charged on the sum of the bid price plus the surcharge for those items. The VAT will be refunded to Purchasers providing a validly stamped export declaration.
2.5 The Purchaser agrees that Koller also receives a commission from the Seller.
3. Disclaimer
3.1 The items are auctioned in the condition existing at the time of the successful bid.
3.2 The items are described to the best of our knowledge and belief. However, Koller cannot accept any liability for the details provided in the catalogue. The items can be inspected during the viewing. The Purchaser is therefore invited to inspect an item prior to the auction and, possibly with the support of an independent specialist advisor, to form its own opinion of the correspondence between the lot and the catalogue description. For the specifications of the items the print edition of the catalogue in the German language (including any later amendments) shall be exclusively applicable. Koller reserves the right to call in experts or specialists of its choice to give an opinion and to rely upon that opinion. Koller cannot be held liable for the correctness of such opinions. Neither any such expert opinions or reports, nor the descriptions of items provided by Koller or other statements pertaining to an item (including statements pertaining to the value thereof) constitute explicit or implicit warranties.
3.3 Subject to clause 4 below, no guarantee or warranty whatsoever is given in respect of legal and material defects. The liabilities of the Seller vis-à-vis the Purchaser are limited to the same extent as the liabilities of Koller vis-à-vis the Purchaser.
4. Guarantee
4.1 Koller shall reverse the purchase (subject to clauses 4.2 and 4.3 below) and shall reimburse the purchase price and the surcharge (incl. VAT) to the Purchaser if the item proves to be a forgery. A "forgery" shall be deemed to exist if the item in the reasonable opinion of Koller is an imitation created with the intention of causing a deception with respect to the originator, age, period, culture or source, where the correct description of such content is not reflected in the auction catalogue (taking account of any additions), and where this circumstance significantly impairs the value of the item in comparison to an item corresponding to the catalogue description. A lot shall not be deemed to have been forged if it is merely damaged and/or has been subjected to restoration work and/or modifications of any nature whatsoever.
4.2 The guarantee given to the Purchaser in accordance with the above provision shall not be applicable at the discretion of Koller if:
(i) the description of the item in the auction catalogue was supported by the view of a specialist or by the prevailing view of specialists, or if the description in the auction catalogue suggested that differences of opinion exist in this respect;
(ii) the forgery was not identifiable as such at the time of the successful bid in accordance with the current state of research and with the generally acknowledged and usual methods, or only with disproportionate effort;
(iii) the forgery (in Koller's careful view) was produced before 1880; or
(iv) the purchase item is a painting, watercolour, a drawing or sculpture which according to the details set out in the auction catalogue should have been created prior to 1880.
4.3 This guarantee is applicable from the day of the successful bid for a period of two (2) years (three (3) weeks for jewellery). It shall be granted exclusively to the Purchaser and may not be assigned to any third party. Assertion of the guarantee claim shall be conditional upon the Purchaser making a complaint to Koller by registered letter immediately after the discovery of the defect, and returning the purchase item to Koller in the same condition as it was handed over to him and unencumbered by third parties' claims. The Purchaser must provide proof that the item is a forgery. Koller may demand that the Purchaser obtains at his own expense expert opinions from two independent individuals who are recognised experts in the field. However, Koller shall not be bound by any such expert opinion, and reserves the right to obtain additional expert advice at its own expense.
4.4 Koller may at its complete discretion waive the assertion of grounds for exclusion pursuant to the above clause 4.2 or the fulfilment of preconditions pursuant to the above clause 4.3.
4.5 The claims of the Purchaser against Koller under clause 4.1 are limited to the reimbursement of the purchase price and surcharge (incl. VAT) paid by the Purchaser. Further or other claims of the Purchaser against Koller or its employees are excluded under any legal title whatsoever.
5. Participation in the auction
5.1 Any party may participate in an auction as a Purchaser. However, Koller reserves the right at its complete discretion to prevent any person entering its premises or attending or participating in its auctions.
5.2 Purchasers who are not personally known to Koller must register at least 48 hours before the auction, using the form provided for this purpose. A copy of the passport of the Purchaser must be enclosed with registration, signed with legal effect. In the event of every payment default of the Purchaser, Koller shall be entitled to charge the credit card of the Purchaser in accordance with the details provided on the registration form up to the level of the owed sum plus the expenses of the card provider.
5.3 If a Purchaser who is unknown to Koller is planning to bid for items with upper estimated values of more than CHF 15,000, he shall be required to present to Koller in advance a certificate of creditworthiness issued by a bank approved by Koller.
5.4 In the case of bids for items with upper estimated values of more than CHF 30,000, Koller may demand that the Purchaser first remits 20 % of the lower estimated value as security. Following the auction, Koller will offset this sum against its claims and the claims of the Seller, and will reimburse any possible surpluses to the Purchaser without delay.