Conditions of Sale

Zisska & Lacher GmbH & Co. KG (hereinafter referred to as ‘the Auctioneer’) acts as commission agent, in its own name and for the account of its clients (sellers), whose identity is not disclosed. The instructions of consignors, who are numbered in brackets (consignor number) at the end of each catalogue description, form the basis of sales. The Auctioneer’s property is indicated separately (1). The sale is voluntary.
The prices after each lot are denominated in EURO and are estimates, not reserves.
The Auctioneer reserves the right to combine any two or more lots, to divide any lot, to offer any lot for sale in an order different from that given in the catalogue or to withdraw any lot or lots from the sale. The Auctioneer shall be entitled to refuse bids unless suitable proof of identity, security or references shall have been provided by the bidder prior to the auction.
All lots put up for sale may be viewed and inspected prior to the auction. Lots auctioned are used goods and their condition is commensurate with their age, usage and provenance although this condition is not always mentioned in the catalogue. The descriptions in the catalogue, which are given to the best of The Auctioneer’s knowledge and belief, do not constitute guarantees in the legal sense. In Lots containing a German-English two-language description, the English text is merely an additional information. For the complete description of the state of a lot, exclusively relevant is always only the German text. The Auctioneer assumes no liability for faults or defects, in so far as he has fulfilled his duty of care. The Buyer is required to give the Auctioneer written notice of all complaints without delay; at the latest, however, within three weeks of the date of the auction. Should the demands be successful, the Auctioneer will reduce or reimburse the purchase price (including buyer’s premium) accordingly; all further claims are excluded. There is no right of complaint in the case of individual items from combined or mixed lots [Konvolute], periodicals, serial publications, complete editions in several volumes and any lots with the indication “nicht kollationiert” [not collated] or “ohne Rückgaberecht” [not subject to return].
Legal note within the meaning of Sections 86 and 184 of the German Criminal Code/StGB: Where the Auctioneer offers goods for sale that are liable to be abused for the dissemination of National Socialist-related ideology and/or material relating to child pornography, such goods are offered on the absolute condition that each and every bidder undertakes, on submitting a bid or bids for any such goods, to acquire and/or employ these goods purely and solely for purposes of an unobjectionable scientific and/or research nature within the terms of the German Criminal Code, should a bid be successful.
Bidding generally starts at 50 % of the estimate. Bids are raised by increments of 5 % to 10 %. The Auctioneer can deviate from this rule in individual situations. A lot will be knocked down to the highest bidder after three calls. The Auctioneer may refuse any bids, or knock down a lot subject to reservation. If two or more persons bid the same amount simultaneously and no overbid has been made after three calls, the successful bidder shall be drawn by lot. The Auctioneer may rescind a decision and put the lot up again for sale if a higher bid made in time has been inadvertently overlooked, or if the highest bidder wishes to revoke his bid, or if the decision is open to other doubt.
Agents acting on behalf of a third party assume full liability for the fulfilment of contract on behalf of their principals. If the catalogue number and the author/short title or reference for identification differ, the short title will stand for the bid. All damages and losses incurred by unclear bidding instructions are the bidder’s responsibility. For bids duly received and not executed due to obvious negligence on the Auctioneer’s part, the Auctioneer’s liability is limited to the estimate amount. The Auctioneer accepts no liability for the execution of absentee bids sent in less than 24 hours before the auction opens or during the auction itself. All bids are regarded as the maximum hammer price. The buyer’s premium and statutory VAT are added to these prices separately.
From the fall of the hammer, every lot shall become the full responsibility of and be at the sole risk of the Buyer, while ownership of the lot or lots shall not pass to the Buyer until full payment has been received by the Auctioneer.
A buyer’s premium of 28 % including statutory VAT is levied on the hammer price (margin scheme), without separate indication of the VAT amount. Where estimates of lots are preceded by *R, a premium of 20 % is levied on the hammer price, plus statutory VAT on the sum of the hammer price and the buyer’s premium at the lower rate of 7 %. Where estimates are marked ** the statutory VAT is at the current rate of 19 %. Dealers tax-resident in Germany who are entitled to deduct VAT on lots offered in the catalogue may request that standard taxation is applied to their auction purchases. Buyers resident in third (i.e. non-European Union) countries are exempted from VAT if purchases are dispatched by the auction house to their registered address or if official proof of export is received by the Auctioneer within a period of four weeks. Dealers whose businesses are registered in the EU are exempted from VAT provided that they quote their verifiable VAT Registration Number (BTW, IVA; TVA) when submitting absentee or online bids, or when registering to bid. Payments in foreign currency will be converted at the rate of exchange prevailing on the day of payment. Costs of shipping, packing, insurance and bank charges are at the Buyer’s expense.
Buyers of original works of art and photographies will be charged with 2 % of the hammer price as a contribution to federal resale rights taxes (§26 UrHG).
Buyers pay the fees for hammer prices generated via internet (portal ZISSKA & LACHER 2%, Invaluable 3% at present).
Immediately upon purchase the Buyer shall pay the final price in cash or by authorized bank cheque. Buyers bear all expenses arising from the method of payment chosen by them. Payments by Buyers who have submitted absentee bids or who have bid by telephone shall be due within 14 days of the date of the invoice.
In default of payment, the Auctioneer will charge interest on the outstanding amount at the rate of 1% per month or part month. Furthermore, if the Buyer defaults in payment, the Auctioneer may, at his discretion, insist on performance of the contract or, if the Buyer has not paid by the date set, claim damages for nonperformance; in the latter case, the Auctioneer may claim the damages by putting the lot or lots up again for auction and charging the defaulting Buyer with the difference between the price bid by him/her and the price realized on the resale, if this is lower, plus the cost of the resale, including the Auctioneer’s costs.
Buyers shall take charge of their lots immediately after the auction. Shipping instructions shall be given in writing. Shipping, if required, will be effected at the sole expense and risk of the Buyer. Prints will be shipped unmatted and unframed, unless specifically requested by the Buyer immediately after purchasing.
By placing a bid either in writing or in person, the Buyer agrees to be bound by these Conditions of Sale. This shall also apply to after-auction purchases.
Place of performance and jurisdiction for registered trade dealings is Munich. German law applies exclusively; the UN-Treaty (CISG) is explicitly excluded.
Should any provision herein be wholly or partly ineffective, this shall not affect the validity of the remaining provisions.
These Conditions of Sale are available in both German and English. The German-language version shall without exception be the authoritative version, in particular with regard to the interpretation of statutory terms and catalogue descriptions.

Munich, 10/01/2017

ZISSKA & LACHER Buch- und Kunstauktionshaus GmbH & Co. KG