1. Validity

The following conditions are binding for business transactions between the Seller and the Buyer excluding adverse conditions of purchase.

2. Offers, On approval consignments

Offers are without obligation until accepted by the consignee.

Standing orders have precedence over on approval consignments with respect to order processing.

3. Delivery Dates

There must exist an expressed contractual commitment in order for delivery dates to be binding.

4. Shipment, Inspection

The dispatch of purchased objects requested by a Buyer that is also an entrepreneur, shall be conducted at the risk and expense of Buyer. The transportation costs shall by paid by the Buyer.

After delivery the Buyer must immediately inspect the purchased objects for damage in transit and report said damage to the transportation company; later claims against unconcealed damage is excluded.

Return consignments are made at the risk and expense of the Buyer, except in the case of a legitimate notice of defect.

5. Seller’s Express Warranty

The objects are used. Visible defects such as tears, imperfections, or the repairs of imperfections are not recognized as defects for legal purposes.

The Seller assumes no guarantee for the objects’ appearance and workmanship for purposes of sales law. There is especially no guarantee with regard to object descriptions, which are compiled according to the best of the Seller’s knowledge and belief.

Regarding material deficiencies – which also include the wanting authenticity of the artwork -- the Seller is not liable for compensatory damages to Buyers that are not the consumer, unless the Seller is guilty of gross negligence. Other claims of the Buyer concerning material deficiencies are limited for a period of one year for used objects.

If the Seller is functioning as a commissioned agent on a third party account, he is not liable for material deficiencies and defects in title to a Buyer, who is not the consumer, unless the Seller is guilty of gross negligence; Should the occasion arise, the Seller shall transfer existing claims against his customer (the consignor) to the Buyer.

6. Purchase Price

The purchase price is due before transfer of the object.

For cash transactions from 15, 000 euro upwards, the Seller is required to retain the buyer’s name and address accompanied by personal identification.

7. Delay of payment

If the purchase price is not remitted 14 days after the objects delivery, then the Buyer shall be in delay of payment, also without issuance of a delinquency notice. An interest penalty of 13% per annum shall be applied during the payment delay period. The Seller also reserves the right to seek compensation for additional damages incurred.

The Seller can rescind a contract on grounds of delay of payment, when he has set a suitable payment extension without success.

8. Reservation of title

The title of the purchased object is transferred to the Buyer only after complete payment of the purchase price.

9. Charging

The Buyer can only charge the Seller on the basis of an undisputed or legally valid claim.

10. Place of jurisdiction

Munich, Germany shall serve as the place of jurisdiction for business transactions. This shall be also valid where the Buyer has no general domestic place of jurisdiction.

11. Applicable governing law

German law shall serve as governing law. The provisions of the UN Agreement on International Sales (CISG) are excluded.

12. Final clause

Should one of the aforementioned conditions be fully or partially invalid, this shall not preclude the validity of the remaining conditions.