AUCTION TERMS

"Auctioneer" means AVUS AUCTIONS or the person conducting the auction on behalf of AVUS AUCTIONS

"Seller" means the person who offer the Lot for sale, agent or principal

"Buyer" means the person whose bid is accepted by the Auctioneer at the auction, concluding a contract for the Lot

"Lot" means any items consigned to the Auctioneer for sale at the auction

1. Fundamentals of the auction

The auction is conducted voluntarily in the name and for the account of the consigner. Own goods of the auctioneer are marked.

2. Condition of specific items to be auctioned

The specific items to be auctioned can be inspected and examined prior to the auction at your own risk. It is therefore possible to inform yourself on the condition and values of the items. The items are used. For open or concealed defects, the Auctioneer accepts no liability to the extent he has fulfilled his duty of care incumbent. The Auctioneer makes no warranty or representation as regards the expected or probable selling price of the items to be auctioned. The catalogue descriptions, performed to the best of our knowledge and belief, is not a guarantee in the legal sense; Errors and omissions reserved. The same goes for oral or written information of all kinds, as well as the description of the goods when called. Functions and not visible changes from the outside are not tested. Odometer readings, unless expressly agreed otherwise, are not guaranteed. The Auctioneer shall not be liable to the Seller for any error or misstatement in or omission from the description of any lot in any Catalogue where the Auctioneer has been provided with such description by the Seller or any person on his behalf. The Auctioneer has no duty to the Seller or the Buyer to investigate the accuracy of the description of any Lot provided by or on behalf of the Seller. The Seller is responsible for delivering the Lot in a presentable and saleable condition. The Seller gives the Auctioneer the full and absolute right to photograph and illustrate any Lot placed in its hand for sale, and to use such photographs, illustrations and film material as are provided by the Seller at any time at its absolute discretion

3. Requirements for participation in the auction

Any participation in the auction is at your own risk. The terms and conditions will be made known to any interested person and are posted during the exhibition and auction in the auction room. To bid for an object, the registration is required. To register the bidder must notify his name and address, as well as further requested information regarding the regulations. Acting as a representative of the bidder, the bidder also indicates the name and address of his principal. In doubt, the bidder buys in his own name and for its own account. It is for the successful bidder to protect yourself against risks of loss, theft, damage and destruction of the objects through an insurance policy.

4. Entering the auction site

Access to the auction site for the purpose of viewing or participating in the auction is at your own risk.

5. The end of the auction

The auctioneer may prefer lot numbers of the catalogue, combine, separate, offer out of sequence or withdraw lots. Increase is usually between 5 - 10 %.

The contract will be awarded if, after three repeat of the highest bid, a higher bid is not given. Given more people give an equal bid on the lot, it will be decided by lot. Disagreement on the final bid or a surcharge will be fixed by re- offer. This applies even if a mistake in time higher bid has been overlooked. The Auctioneer may reject bids if there are objective reasons. This is especially true if the bidder has not provided when requested by the auctioneer sufficient, corresponding to the value of the collateral bid before the auction. In case of rejection of a bid, the bid immediately before the output remains binding.

The auctioneer may refuse to award or grant conditional. If the auctioneer grants conditional, the bidder is bound by his bid for 2 weeks (§ 158 BGB). The property may be knocked in the case of an offer after the auction to the limit, without consulting, to any other bidder or can be sold after the auction. Will the conditional bidder be awarded within this time the unreserved award, it runs out. For the validity of the bid, the dispatch of the written notification (invoice) to the address specified by the bidder is sufficient. Reservation surcharges expire without asking the subject bidder when another makes a higher bid.

Written orders are accepted and processed carefully, but without guarantee. This must be received one day prior to the auction by the auctioneer. The bidder is obliged to provide proof of access. The bids must be clearly stated. There are maximum bids, it can also be added below. When buying by written order, the invoice amount is due immediately upon receipt of invoice.

The subsequent sale is part of the auction in which the interested party in writing issued an order to bid a certain amount. Accordance with the provisions on Fernabsatzverträge § § 312b et seq BGB do not apply. The Seller may place a Reserve on any Lot when he consigns it to the Auction, and once placed it may not be changed without the written consent, from the Auctioneer. If no Reserve has been placed on a Lot, the Auctioneer shall in no way be held liable, should the Lot be purchased for a price below any lowest estimated selling price of the Lot given in any Catalogue.

6. Composition of the purchase price

The purchase price consists of the price awarded, and an agreed premium upon for each auction, plus the statutory value-added tax, only in the premium. The purchase price, plus buyer`s premium and VAT is due on the bid and must be made on the day of the successful bid (auction day). Payments can only be done in EUR. Payment can be made in cash only, with confirmed federal bank check or check with irrevocable bank letter of guarantee. Subsequent telegraphic transfer is only possible after the deposit of a certified check. Credit cards may be accepted by prior arrangement only, depending on the auction. The exhibited on the auction and post-auction sales invoices are issued subject to special review and possible correction.

7. Payment, late payment, acceptance

The contract obliged not only to pay for immediate acceptance by the bidder. With the fall of the hammer, possession and risk for not responsible loss or damage go directly on to the buyer. The ownership of the auctioned items, purchased by the bidder, is transferred only after receipt of full payment by the auctioneer. The pick of the auctioned items must be made on the day of the auction, if nothing else is agreed, at the own risk and expense of the purchaser. If the purchaser is in default of acceptance, the Auctioneer is entitled to place the matter on the cost and risk to him or others. The date for the release of stored items shall be agreed with the auctioneer.

With delay of payment interest is calculated, and its height amounted to consumers (§ 13 BGB) at 5 % above the base lending rate of the European Central Bank and among entrepreneurs (§ 14 BGB) at 8 % above the base lending rate of the European Central Bank. In addition, the auctioneer may claim against the buyer for damages for negligent breach of duty to complete. For this, the auctioneer, after the second reminder, is entitled to levy a late payment charge of 3% of the total claim, unless the buyer can prove that damage has not occurred or a much lower height. Instead of the lump-sum compensation, the auctioneer may demand compensation for specific damages incurred. This can be calculated so that the item is being auctioned again , in another auction with a specific due discretion of the auctioneer limit and the defaulting purchaser shall pay a shortfall in proceeds compared to the previous auction and the cost of repeated auction including fees and costs incurred by the Auctioneer . On any additional proceeds the buyer shall have no claim in this case. The rights from the previous knockdown go with the new surcharge. By default occurs, all claims of the auctioneer against the buyer shall become immediately due. The buyer is liable for all claims arising from non-payment or late payment damages, especially for the cost of storage or a reduction in price. A possibly deposit will be deducted from the damage. Commandments of the non-payment of later ones bidder, or those commandments which are given in his name can be rejected in future bids or be subject to a deposit. If the Buyer fails to pay the Purchase Price, the auctioneer will immediately notify the Seller who may instruct the Auctioneer as to the appropriate course of action. The Auctioneer shall, in the absence of any written instructions from the Seller after 7 days having notified the Seller, be entitled to take any legal actions.

8. Removal, liability for damages

The removal of items purchased is at the expense and risk of the bidder. The bidder shall be liable for damage caused during transport on the seller`s property. The Seller is obliged to pick up any unsold Lots on the day of the auction, if not agreed different.

In case the sold and unsold Lots are not picked up within the agreed time, the Auctioneer has the right to remove these items and charge the seller or the buyer the following fees

Removal EUR 200 plus VAT

Storage EUR 30 per day plus VAT

9. Liability

a) For entrepreneurs in terms of § 14 Section 1 of the Civil Code and any legal person: The auctioneer is liable, irrespective of the legal reason, only in case of wilful intent or gross negligence.

b ) Paragraph 9 shall apply mutatis mutandis with the proviso that the liability of the Auctioneer is not excluded or limited in case of injury to life, body or health for consumers in terms of § 13 BGB .

c ) A bidder who buys for a principal is liable, in addition to this, also as a self- debtors .

d) For damages on objects the causative person is responsible and will be held liable

e) The Seller warrants to the Buyer and to the auctioneer that he is the owner of the Lot or is properly authorised to sell the Lot by the owner, and is able to sell the Lot with full title guarantee, free from all encumbrances and third party claims. The Seller confirms that he will check the, from the Auctioneer, published description of the Lot and will inform the Auctioneer within 5 days after getting notice about any mistakes, wrong information or misunderstandings in the description of the Lot.

10. Withdrawal fees

The Seller may not withdraw the Lot from the Auction after he signed the consignment form. If he will do so or if the Auctioneer is unable to sell the Lot at the Auction due to action or interference by the Seller, the Seller shall be liable to pay the auctioneer 15% of the estimated value of the Lot plus VAT thereon together with Expenses. The estimated value shall be the mid value estimated in the Catalogue.

11. Range of Conditions

The above conditions apply to all items offered for sale, even if they are acquired without prior inspection, after the auction or on the open market. These terms and conditions govern all legal relationships between the Bidder / Buyer and the Auctioneer. Terms of the Bidder / Buyer shall not be applicable. Verbal collateral agreements do not exist. Changes require for their validity in writing.

12. Place of jurisdiction

All transactions, to which these Auction Terms and Conditions apply, are subject exclusively to German law. Jurisdiction and performance is, as far as may be agreed for both parties in Hamburg, Germany. The United Nations Convention on Contracts with International Sale of Goods (CISG) Convention does not apply.

13. Severability

The invalidity or partial invalidity of any of the above conditions retains all remaining validity.