As soon as all balances due have been settled, clients can pick up acquired items (by appointment) free of charge at the place of auction or by appointment in our locations in Munich, Hamburg, Düsseldorf and Berlin. Please allow for ca. one week for transport to our locations. If necessary, our shipping department will prepare documents for exportation free of charge. Items that have neither been picked up until four weeks after billing date the latest nor have been approved for shipping will be stored at buyer's costs. + shipping
The first price called up in an auction is the opening bid at which the auctioneer accepts bids. It is determined by the minimum selling price, which has been confidentially agreed on with the consignor and which is not higher than the lowest estimate. In case an auction starts with an opening bid above the estimate, higher written bids have usually already been issued.
If necessary our shipping department will prepare documents for exportation free of charge.
Live bidding You can either participate in the sales room in person or through an authorized agent. We kindly ask you to reserve a seat a day before the auction the latest and to obtain a bidder card, as this will save you time. In case you are a new client, please notify us through our registration for new clients. Please make sure to present proper identification on the day of auction. + client service Written bid In case you can not be present at the auction, we will gladly accept written bids ahead of time, which we will only make use of as much it requires to outbid other bids. In case you have either won the lot or have been outbid, you will be notified by mail the following business day after the auction. + bidding form Phone bidding For objects above 5,000 EUR another alternative is to bid by phone. We kindly ask you to announce your participation by phone a day before the auction the latest. On the day of the auction we will call you shortly before your desired object is called up. For this it is mandatory to make sure you are available on one of the phone numbers you have specified. To be on the safe side it is recommendable to also make a written guarantee bid. In addition to phone bidding, it is possible to follow the auction online. Our staff is at your service for phone bidding in the following languages: German, English, French, Italian. In case of success you will be notified by mail the following business day. + bidding form Internet bidding You may also follow our auctions in the internet, in some auctions you may also bid online. Please obtain further information from the respective auction.
The final price, also called result or purchase price, is due to the hammer price plus the buyer's premium and the respective type of taxation. Generally, traders entitled to deduct input tax can be subject to regular taxation. For private clients that are EU residents differential taxation is usually more favorable.
In art auctions the following applies for differential taxation: - Hammer price up to 500,000 €: herefrom 32 % premium.
- The share of the hammer price exceeding 500,000 € is subject to a premium of 27 % and is added to the premium of the share of the hammer price up to 500,000 €.
- The share of the hammer price exceeding 2,500,000 € is subject to a premium of 22 % and is added to the premium of the share of the hammer price up to 2,500,000 €.
The purchasing price includes the statutory VAT of cur rently 19 %.
In art auctions the following applies for regular taxation:
- Hammer price up to 500,000 €: herefrom 25 % premium.
- The share of the hammer price exceeding 500,000 € is subject to a premium of 20% and is added to the premium of the share of the hammer price up to 500,000 €.
- The share of the hammer price exceeding 2,500,000 € is subject to a premium of 15% and is added to the premium of the share of the hammer price up to 2,500,000 €.
The statutory VAT of currently 19 % is levied to the sum of hammer price and premium. As an exception, the reduced VAT of 7 % is added for printed books.
Regular taxation may be applied for contractors entitled to input tax reduction.
We kindly ask you to notify us before invoicing if you wish to be subject to regular taxation.
For works by living artists, or by artists who passed away less than 70 years ago, a artist‘s resale right compensation is levied in accordance with Section 26 UrhG.
If shipping is desired transportation costs will incur.
For differential taxation the difference between the buyer's purchase price and the consignor's proceeds as sales volume applies, therefore sales tax is not shown but a buyer's premium that already includes sales tax is levied. This is usually the more favorable option for private clients that are EU residents. Objects marked with the letter "N" in the catalog will be subjected to differential taxation and a 7% import tax levy or regular taxation. Objects identified with the letter "R" in the catalog may not be subject to differential taxation. + regular taxation
Artist‘s resale right compensation
For works by living artists, or by artists who passed away less than 70 years ago, an artist‘s resale right compensation is levied in accordance with § 26 UrhG (German Copyright Act), scaled from 4% to 0.25 % of the sales proceeds, for details see item 5.5 of the General Terms of Auction. The artist‘s resale right compensation is VAT-exempt.
We produce elaborate catalogs for our auctions. If desired we will send them to you free of charge! + catalog order
Post auction sale
After the auction, unsold objects can be purchased in the post auction sale at minimum selling price. Buyer's premium, sales tax and artist‘s resale right compensation, if applicable, will be added to the minimum selling price (see + final price). The post auction sale is usually offered for a period of eight weeks after the auction.
In case you have not made a purchase with us yet, we kindly ask you to notify us through our registration for new clients. This should be done a day before the auction the latest, so we can carry out a credit screening if necessary. For this purpose we need a copy of your identification. + client service
Minimum selling price
The minimum selling price or limit price is the price that has been confidentially agreed on with the consignor, it is not higher than the lowest estimate.
You may obtain and settle your bill on the day of the auction. In case you do not pick up your invoice in the auction in person, we will gladly send it to you by mail or by e-mail. Additional alterations of the invoice recipient or the taxation mode are possible, however, they are not free of charge. Please make sure to always specify proper information when issuing your bid. + payment
If regular taxation is applicable, the tax is levied on the hammer price and the buyer's premium as sales volume and sales tax is shown on the invoice. In case you wish to be subject to regular taxation, please notify us prior to invoicing. + differential taxation
The estimate price reflects a typical retailer purchase price for the respective object on the market. Various factors, such as prices realized by similar works or just this very work in the past, the current demand, the work's condition, the role the work plays in the artist's oeuvre and many others come into play. + opening bid
Objects in an auction can be personally viewed. All objects can be viewed at the place of auction, in many cases we also show a part of the objects in other cities. Please obtain dates and further information from the respective auction. + upcoming auctions
Modes of payment
Bank transfer The easiest way to pay is by making a bank transfer.
Cash payment You may also obtain and settle your bill on the day of auction. Cash payment is generally possible, in this case we will ask for identification.
Checks Please understand that we accept checks only according to prior agreement and from domestic banks, due to different bank procedures.
Credit card payments Credit cards unfortunately are not be accepted.
Cash card payments We accept cash card payments up to an amount of € 10,000. All payments must be authorized by the card holder in person. The limit is up to the respective bank and payment service provider.
Input tax/VAT reimbursement
As soon as the invoice has been fully settled and we have received the export certificate, the invoice will be re-issued and input tax/VAT will be reimbursed.
If you have provided a written shipping order, we will organize the transport to the address specified. In case you bid by phone or have issued a written bid, you may notify us about the desired shipping mode on the bidding form. In general, all objects that we ship are insured. If desired, uninsured shipping is also possible. Small pictures, sculptures and graphic works that are not framed under glass (up to an insurance total of EUR 25.000) can be shipped cost-efficiently and properly. For all other works we will assign a shipping company according to prior agreement at the buyer's expenses. If necessary, our shipping department will prepare documents for exportation free of charge. + pick up
If the minimum selling price for a lot in an auction is not realized, the auctioneer may sell an artwork for a price below the minimum selling price, the underbid. This underbid is subject to the condition that the consignor agrees. A bidder issuing an underbid is bound to his bid for a duration of four weeks and will be informed through the invoice in case of success. In case another bidder has meanwhile offered the minimum selling price it will be knocked down for him.
The hammer price is the highest bid the auctioneer accepts. It may be granted with reservation in case the bid is slightly below the consignor's minimum selling price. In this case the consignor will be contacted after the auction and asked if he agrees to the sale. Please not that the hammer price is not the same as the final price. + final price