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Munich Wine Company terms and conditions

The following Terms and Conditions pertain to all aspects of the relationship between you, the seller and us regarding the sale, purchase, or handling by us of property. By participating in any of our auctions (whether in person, by phone, in written form, or by electronic means), you have agreed to all of these terms and conditions.

1. The Munich Wine Company (hereafter referred to as we, us, our) sells as an agent for the seller (owner of the property consigned), and any sale made results in a legal contract between the buyer (hereafter also referred to as you) and the seller. Taxes will be calculated at the current rate (19%) on the seller’s commission, the lot fee, and other outstanding costs, but not on the hammer price. Catalogue items with stars beside them are subject to taxes on the hammer price as well as the abovementioned taxes.

2. All regulations which pertain to printed catalogues also pertain to any catalogue available and viewed over the internet or transmitted in any other form.

3. All items can be inspected at any time before an auction by appointment. All items are used. Any data given, including that concerning age, origin, authenticity, description and condition, is a statement of opinion only. All goods are sold with all faults, imperfections and errors of description. Prices indicated in the catalogue are noncommittal estimated values of the articles. Articles are not guaranteed against hidden material defects. All items are sold in the condition which they are in when the hammer falls.

4. To assist you, we may include lot descriptions in the catalogue, and we may refer to particular faults of imperfections of an item. However, any such guidance given is not purported to be exhaustive. If requested, detailed information will be made available regarding items which are for sale. We are not responsible for any mistakes made in verbal or pictorial representations of items, including descriptions of filling height. We give no warrantee or guarantee to the buyer regarding information we give about any of the items being sold. (i.S.d. §§ to 459 ff. BGB). You are responsible for being knowledgeable about any items you bid on.

5. The auctioneer can only be held liable in situations where he is proved to have acted in a grossly negligent or in a purposefully dishonest manner. This also pertains to all employess of the auction house.

6. We represent the seller in all sales, and our responsibilities to you are the seller’s responsibility to you. We are dependent on the seller for much of the relevant factual material pertaining to items offered for sale. We do not undertake full due diligence on every item sold. If there is a problem regarding any item sold to you, claims are between the buyer and the seller, not between the buyer and Munich Wine Company. Claims must be made within the first seven days after the buyer has the item in hand. The items are listed in the catalogue with a number which numerically identifies the seller. We reserve the right to act on behalf of the seller.

7. The auctioneer has the right to combine lots, to withdraw lots, or to re-offer a lot for sale.

8. The person who makes the highest bid accepted by the auctioneer shall be the buyer. The striking of the auctioneer’s hammer indicates the acceptance of the highest bid and identifies that hammer price at which the lot is sold to the buyer at. The striking of the auctioneer’s hammer also marks the conclusion of the contract of sale between the seller and the buyer. The auctioneer reserves the right to reopen a lot to bidding or to reject any bid placed. Reasons for this may include but are not limited to: written or verbal conditions not being met by the bidder, the bidder not having the collateral to fulfil their bids, or if the bidder has defaulted in the past on making payment or collecting his goods. The seller has the right to bid on any items which he is selling and purchase them back.

9. A bidder is committed to his bid if a later, higher bid is withdrawn by the auctioneer. If more than one person places the same bid at the same time, the bid goes to the bidder who placed his bid first. If there is any doubt as to which bid was first, the decision will be made by the flip of a coin.

10. The auctioneer is authorized to correct himself and to give or take a bid from a bidder, by starting bidding again on a lot, if he determines that a mistake was made or a bid was missed. In this case, all bids placed the first time are forgotten, and the bidding begins again. In case the highest bidder wants to withdraw his bid, the auctioneer has the right to conclude the contract and leave the bid as it stands, he can award the lot to the next lower bidder, or he can restart the bidding on the lot.

11. If bids do not reach the reserve price (limit) given for a lot, the auctioneer has the discretion to accept bids under that amount (u.V.), but these bids are subject to the seller’s approval, He will indicate that a bid is u.V. when he calls the hammer price.. The buyer is bound to his u.V. bid for a period of two weeks. If the seller does not accept the below limit bid, or if any other bidder bids the required lower cataloge price for the lot, the original u.V. bid is cancelled and the lot may be offered to any other bidder. It is the bidder’s responsibility to check upon the status of his u.V. bids. A written notification or an invoice is the confirmation of the acceptance of the u.V. bid.

12. Before receiving a bidding number, customers are required to register. The bidder is responsible for his bidder number after it is given to him. Use of a bidder number by a third party must be authorized by the bidder and the auctioneer. Munich Wine Company is excluded from any liability in regards to misuse of a bidder number, which is the sole responsibility of the registered bidder to that number.

13. Written or electronically submitted bids are handled in the same way as written bids. The auctioneer can not be found at fault for bidding or not bidding on behalf of the person placing the written bid unless he is found to have acted purposefully or to have been grossly negligent. Written bids must be received at least one day in advance of the auction. Please use our written bid form, as provided on our website or in the auction house, to place your bids. You can transmit your bidding form by faxing, mailing or emailing a signed scan to us after completing and signing it.
For the objects which you are interested in, please give us the catalogue lot number, the name of the lot, and your bid. The name of the lot is only for lot clarification purposes. If the lot name and lot number do not match, the lot number is binding. The amount you enter serves as your highest bid and, if reached, is only the hammer price. It does not include the buyer’s premium, taxes or any other extra costs such as shipping and handling. Bidding is handled in a conservative manner. This means that your bid will be placed at the standard increment above the next highest bid and will only go up to the amount you listed if someone else is bidding against you and raises your bid incrementally to your top value. If two identical bids are received for the same lot, the bid will go to the person whose bid was received first.

14. Mistakes which are made when transcribing a written bid or any misunderstandings due to the quality of a phone call, fax, or electronic mail are the responsibility of the bidder. The auctioneer is only held responsible if he is found to be grossly negligent or acted deliberately.

15. When there is a discrepancy between the text and photograph of an item in the catalogue, the text takes precedence. If the number of bottles is different between the description and the picture, the written text takes precedence. If an item is inadvertently duplicated in the catalogue, and called and won by the fall of the hammer twice, the first lot will be the true lot. The customer who bid and won the second lot has no rights to the first lot.

16. The price determined by the fall of the hammer is binding and will be paid to the auction house. To the hammer price of the lot is added a 10% commission (buyer’s fee), and the lot charge, both of which are taxable. Additional costs may include transportation costs or transportation insurance. Lots won by written bid must be paid no later than 14 after the end of the auction. If payment is made by electronic money transfer, payment is not considered complete until it is in the Munich Wine Company account. It is also possible to pay by cash or EC card. All items remain the property of Munich Wine Company until payment has been received in full.

17. Billing done during or immediately following an auction is not binding as mistakes can easily be made in bookkeeping at this time. If a bill is calculated incorrectly at this time, corrections will be made and the customer will be responsible for the amount still due, or we will refund any amount overpaid.

18. After the fall of the hammer, the customer who won the item takes responsibility for the item. This includes, but is not limited to, any decrease in value of the object or any non-intentional damage to the article. The customer who won the item may not take physical possession of the item until it has been paid for in full, however.

19. We are acting on behalf of the seller, and we are entitled to act in their name in any legal situation involving their goods.

20. If you do not make payment or refuse delivery of your goods according to the policies stated above, we have the right to cancel the sale of the lot and resell or re-auction it, with any resulting costs to be paid by you. If the resale results in a lower hammer price, the difference is to be paid by you. If the resale results in a higher hammer price, the surplus shall be paid to the seller. In this situation, you waive any claim which you may have to title of the lot.

21. If you do not pick up your items, we have the right to arrange storage for them. All risk and expense are taken on by the buzzer. If we chose to store them in our facilities, we have the right to charge storage costs equal to the average rate of storing them in a separate storage facility.

22. Possession of items purchased at an auction does not take place until payment has been made in full. In the case of electronic payment, payment is not considered in full until the funds have been cleared. U.V. bids cannot be paid and cannot be taken into possession until agreement regarding the price has been reached with the seller.

23. In the case where payment is overdue, we reserve the right to charge you interest at a rate of 10% per annum. The buyer will be responsible for any costs that we incur due to payment not having been made. It is the buyer’s responsibility to contest these extra costs. No deferment in billings will be made.

24. The auctioneer is not liable for any damage or loss of value on an object unless he can be proven to have acted with gross negligence or that he acted deliberately.

25. §§ 181 and 326 BGB (General German Code of Law) do not apply for these terms and conditions.

26. A buyer with a valid, undisputed credit with Munich Wine Company may apply this credit to his next purchase.

27. The auctioneer has the right to exclude persons from the auction without giving any reason. This implies in particular to, but is not exclusive to, people who are causing a disturbance during the auction, people who have not made timely payment in the past or have outstanding unpaid invoices This also applies to bidders who are not able to cover their bids. These bidders will also not be allowed to bid as a third party for others or have a third party bid in their name.

28. For Munich Wine Company, Munich is the place of jurisdiction. This pertains to buyers who are businessman in the legal sense and buyers who are not residents of Germany. Munich is also the place of jurisdiction for all legal action arising from disputes of bills of exchange.

29. These Conditions of Business and any amendment to them shall be governed by and interpreted and construed in accordance with German law only. They are not subject to the CISG, the United Nations Convention on Contract for the International Sale of Goods. The formal and legal binding language for all contracts, including this one, is German. All translations are an informal service provided by the auction house.

30. If one of more of these terms and conditions are or should become invalid (unenforceable) for any reason, the validity of the other terms remains unaffected. The invalid condition will be replaced by a valid condition, that remains as near as possible to the original condition.