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CONDITIONS d) For property with VAT symbol VAT registered buyers from European Union
(EU) contries may have the VAT refunded if they provide us with their VAT
identificationnumber when registering for bidding.
OF SALE e) Exports to non EU coutries will be exempt from VAT for property with VAT
Symbol, and so will be exports made by companies from other EU member
states if they state their VAT identification number. Buyers taking property to a
non EU country in person may have the VAT refunded if they provide evidence
for Bidders at WestLicht Auctions that the property has been removed to another country outside the EU in the
(Peter Coeln GmbH) form of a copy of customs export documention stamped by customs officers.
f) For lots won using a live bidding service (e. g. LIVE AUCTIONEERS) the buyer’s
premium will be 25 %.
1 By submitting an absentee or telephone bid, making an on-line bid offer
or by personal participation in an action each and every bidder agrees to abide 7 The lots will be auctioned in numerical order as listed in the catalogue.
by the following conditions of sale. These conditions also apply to subsequent The text of the printed catalogue is binding. The auctioneer reserves the right to
sales. Where there is a conflict of meaning due to errors of translation, the group numbered lots together during the auction, to separate them, to remove
German text, as printed in the auction catalogue, is binding. Commission bids or to change the order as he sees fit. He may refuse an offer and rescind an
and personal information of those submitting lots for sale and bidders will be accepted bid in order to continue bidding.
dealt with by WestLicht Auctions in the strictest confidence and will not be
passed on to third parties. 8 Bids will be in increments of approx. 10 % of the starting price. As a rule
the start price is the one to be found in the catalogue unless there have been
2 The auction is public and voluntary and will be conducted in accordance higher, written bids. In this case the auctioneer will call a bid favoring the high-
with the regulations set forth in paragraph 288a ff of the Trade Regulations of est bidder. This will be approx. 10 % higher than the written offer made by the
1997 and also in accordance with these conditions of sale. The auction will be second highest bidder. Should there be more than one written, highest bid, the
conducted in our client’s name and for our client’s account. Place of jurisdiction lot will be awarded to the first to arrive. The hammer price is the net purchase
is Vienna. Austrian law is also binding on all foreign bidders. price, not including the buyers commission.

3 The valuation and expert description of objects will be carried out by the 9 Ownership of the goods only passes to the buyer after payment in full has
experts of WestLicht Auctions who will take all reasonable care to describe the been made. When a lot is hammered down, the acquirer is obligated to accept
condition of the lots in the catalogue as accurately as possible. Possible flaws or and pay for the lot for which he bid. In no circumstances will the auctioneer
defects in the objects on offer will normally be noted and the objects will be accept the return of any lots. Once the hammer has fallen all risk with regard to
evaluated according to normal international categories (A, B etc.). The meaning the article is transferred to the acquirer. However, the lot will only be delivered
of the categories will be explained in detail in the catalogue. However WestLicht to the acquirer after full payment of the hammer price including all taxes, fees
Auctions explicitly draws your attention to the fact that the objects are offered and charges due. Should agreement be reached to deliver the item before full
as collector’s items (showcase items) and that the sale of them gives rise to payment has been made, ownership of the article in question remains vested in
neither warranty nor responsibility for any visible or invisible defects whatso- the supplier until payment has been made in full.
ever. All errors in the catalogue are excepted. WestLicht Auctions also reserves
the right to amend any description up to the time of auction. Auctioned items 10 In the absence of an agreement to the contrary, at the end of the auction
cannot be returned (see also paragraph 12). bidders in the auction rooms must collect and pay for the lots they have
acquired. Where payment is to be made by bank transfer, the total purchase
4 Viewing of the objects intended for the auction is possible within the price is due immediately together with any bank charges. Invoices for the items
period stipulated in the catalogue. If it is not possible for a bidder to view an acquired either in writing or by telephone will be sent to the highest bidder
object in person, we will be happy to forward them a more detailed description immediately after the end of the auction. These must be paid within 8 days of
of the technical and optical condition. This information may be given by tele- receipt, in full and without deduction. Where payment is delayed interest will be
phone, in writing, or by e-mail. Additional photos can only be sent by e-mail. due at a rate 5 % above the prevailing rate of the Austrian National Bank.
During both viewing and the auction visitors and bidders should exercise the Payment may also be made by cash on delivery, money or postal order or
greatest of care since they will be responsible for any damage caused in full. banker’s check. The acquirer accepts responsibility for all expenses involved in
these methods of payment. Costs relating to packing, transport and transport
5 Written bids may be submitted prior to the start of the auction (by letter, insurance are not included and will be separately detailed on invoices. We
fax, e-mail or an on-line offer through our home-page). Written purchase orders would also like to bring to your attention that we only invoice for packaging at
must reach the auctioneer at least 24 hours before the start of the auction and cost price and that because of agreements reached with transport companies
must be clearly legible. In order to be taken into account they must also contain we can offer favorable transport and insurance rates. Nevertheless, storage and
the client’s exact address as well as their highest bid in EURO. The price speci- packaging is at the buyer’s own risk.
fied therein will be regarded as the highest hammer price. In the case of a
successful bid, all additional charges will be added to the bill. We carry out written 11 In the case of refusal to accept delivery or late payment, the buyer is
bids scrupulously, the highest bid designated therein only being made use of liable for all damages and costs arising there from. In either of these cases the
when other offers (written or verbal in the auction rooms) make it necessary to auctioneer may require that either the contract be fulfilled or damages resulting
do so in the interest of the bidder. Telephone bids are only possible on lots from non-fulfillment be paid. The lots may then be auctioned again at the
worth more than EURO 500 exclusive of charges. In the case of telephone bids expense of the buyer. In this case the buyer is liable for the reserve price and
too, it is necessary that the intention to bid by phone be deposited in writing has no claim on any additional revenue made.
with the auctioneer at least 24 hours prior to the auction. Telephone bidders will
then be called by WestLicht Auctions before bidding starts on the relevant lots. 12 Auctioned items cannot be returned. However, any case of obvious
However, there can be no guarantee that a telephone connection can, in fact, misrepresentation (except technical flaws or defects as described in paragraph
be made. After having been legitimated by means of an identification document 3) must be reported immediately after the auction verbally or in writing not
or credit card, auction-room bidders will be given a bidder number before the more than 14 days thereafter. If the complaint is accepted as valid, the buyer has
auction starts. a right to the re-payment of the purchase price and charges upon simultaneous
return of the auctioned object. No other claims will be entertained.
6 The total purchase price consists oft the hammer price, the buyer’s
premium and applicable VAT or amount in lieu of VAT at applicable rate. 13 After completion of the auction we are entitled to sell any non-auctioned
items subject to the normal conditions of business in the name of, and for the
a) Buyers Premium account of, the supplier.
The buyer’s premium is 20 % of the hammer price.
b) Regular Scheme
Where there is the “*” symbol next to the start price “€ 1.000 *”, VAT will be
charged to the buyer (currently at a rate of 20 %) on both the hammer price
and the buyer’s premium, if the goods are not exported out of EC.
c) Margin Scheme
Where there is no VAT symbol WestLicht Photographica Auction is able to use
the Margin Scheme (§ 24 UStG 1994) and must bear VAT on the buyer’s premium
and hence will charge an amount in lieu of VAT. This amount will form part of the
buyer’s premium (in total 24 %) on our invoice and will not be separately
identified.