AUSTRIA AUCTION COMPANY Langauer GmbH (AAC) accepts objects on behalf of sellers as a commission sale in or outside its business premises, the Internet or by using other, appropriate technical or actual equipment, to auction such goods subject to the following Conditions. The consignor warrants he is the sole owner of the items to be auctioned, or is duly authorized to act on behalf of such owner. The contract will be in accordance with the provisions of the Austrian Commercial Code of 1994 as currently amended.
1. The auction item will be stored in the storerooms of AAC for free until the completion of the auction for which the objects have been accepted.
2. The storage is at the risk of the consignor. AAC is only liable in case of willful or grossly negligent breach of contract. Any proof for intent and gross negligence must be made by written claim immediately by the consignor. However, for the following -- fire, burglary and theft -- AAC offers insurance at the consignor’s expense. The premium for this insurance will be shown separately on the invoice. At the completion of the auction this insurance expires. The consignor accepts these Conditions in writing at the time of consignment.
3. The consignor agrees the sale of consigned objects will be governed in accordance with the attached General Terms and Condition of Auction, which are an integral part of this auction contract. AAC can in certain circumstances bid on behalf of the consignor up to the reserve price. Where the consignor has not set a minimum price (the reserve), the auctioneer shall sell the object at a price at its sole discretion. If the object is unsold during the auction, the highest bidder will be tied to his bid for a period of three weeks. The consignor has to agree to such a sale, to the highest bidder, in sufficient time so that bidder can be notified within the three week period. If the consignor gives a group of objects for sale the auctioneer has the right to sell them at his sole discretion as long as the consignor’s limit for the group is met.
4. If three days from the date of accepting the consignment agreement the consignor has not contacted AAC, the consignor then agrees to the Estimate in the AAC consignment agreement. These Estimates done by AAC using due care are not any guarantee of selling price. AAC does not assume any responsibility to be held liable by the standards of Civil Code § § 1299f. The consignor expressly agrees to waive any Estimates or assessments made by outside publicly appointed and sworn experts.
5. After the close of the auction, the consignor agrees to leave any unsold objects with ACC for a period of three weeks to allow AAC to arrange possible private sales. Selling price in this case will be a minimum determined by the consignor’s reserve. If there is no reserve consignor agrees to allow AAC to sell the object at a price determined by AAC’s sole discretion.
6. The consignor agrees to be paid according to the terms of this contract. Should the consignor be a corporation the consignor agrees to pay on its behalf the VAT it will receive from AAC as part of its settlement for the object’s sale.
7. Consignor agrees if the object is not sold or picked up within five weeks from the date of sale AAC is entitled to either return the object at consignor’s cost and risk, or to charge storage fees at industry standard.
8. Consignor agrees to pay AAC a commission based on the consignment agreement. Consignor agrees to pay for any images in the catalog according to the consignment agreement. Consignor agrees to pay any expenses related to the sale of his objects, like packing, postage, transportation and the cost of repairs, etc., listed in the consignment agreement. Should the consignor, or his agent, bid for and buy any object listed on the consignment agreement with AAC consignor agrees to pay all normal charges, as if the object was sold to any other bidder.
9. AAC reserves the right to charge a 3% commission, plus any costs listed in paragraph 8 of this agreement, for any object which has remained unsold in the auction or in the three week period following the auction.
10. The consignor takes full responsibility for the information he has provided AAC about the object and guarantees to protect AAC from any and all claims by any third party. In particular, the consignor shall be liable for all defects and deficiencies of the objects. Should AAC discover any additional significant defects after delivery AAC is entitled to cancel the contract. Also in principle AAC is entitled to reject accepting the object without giving any reason. In the event of any contest of ownership or anything else the consignor agrees to pay all expenses in advance. AAC is liable to the consignor only in case of willful or grossly negligent breach of duty.
11. Forty-five days after the auction, providing the buyer has paid in full, the consignor will be paid the balance due by AAC. If the buyer does not pay in full, at the consignor’s discretion, AAC will endeavor to collect payment. However, the consignor agrees to pay in advance for any fees or charges associated with this effort. AAC is liable to the consignor for the amount of the auction proceeds due to him when the buyer has paid in full.
12. Should an object stay unsold in the auction and the consignor demands it returned before the end of the three week period, AAC is entitled to receive full commission and any other relevant charges before returning the object. If the contract is canceled by mutual agreement between the consignor and AAC, the consignor agrees to pay AAC all commission and costs. The calculation for this will be from the minimum price specified in the consignment agreement, or as alternatively set by AAC in the catalog.
13. The consignor agrees to the listed date and time of the auction shown in the consignment agreement. All changes and any amendments to these Conditions of sale must be registered in writing. Statements by AAC are only binding if they are confirmed in writing. Consignor and buyer agree the jurisdiction of the local court in Vienna will apply. In any event only Austrian law applies. Consignor and buyer agree the UN Convention on Contracts for the International Sale of Goods of 11.04.1980 (CISG 89 BGBl II) shall not apply.
14. Consignor agrees if there is any copyright question the consignor will be liable for all charges and payments.
15. Should any part of this agreement be found invalid it does not change any of the other parts. Consignor agrees if any invalid part of this agreement is replaced AAC has the sole right for its agreement.