1/4/2024 0 Comments Twomon source code![]() However, the company may grant the auction buyer a respite for the payment of the purchase price in whole or in part in individual cases. § 5) The auction buyer must pay the purchase price immediately upon acceptance of the bid (final and highest bid plus 22% surcharge, plus the value added tax applicable to the surcharge to the amount of 20% plus applicable fees – online bidding and payment fees). The value added tax shall not be shown separately on the invoice. § 4) In the event of sales abroad, the value added tax will be repaid if the item is sold to a country which is not a member country of the European Union (third country), the legal requirements are met, and the proof of exportation is provided. For online bids an additional 5 % will be charged. A uniform surcharge of 26.4% inclusive the value added tax shall be added to the achieved highest bid (final and highest bid). § 3) All items shall be subject to differential taxation. Typically, only a minority of all items in an auction have a hidden reserve. If the winning bidder does not receive a written cancellation notice within this term of 8 days, the knockdown becomes unconditional and the sale is final. In this case the highest bidder shall be bound to his/her last bid for a term of 8 days starting with the day of the knockdown. If a reserve is not reached during the auction, the auctioneer will knock down the item to the highest bidder at the final bid, but the sale will be conditional of the acceptance of this final bid by the seller. The auctioneer will in this case bid on behalf of the seller against all other bidders until the reserve has been reached. This reserve will be disclosed upon request only and may exceed the estimate. Such a hidden reserve (also called limit or just reserve) shall be the minimum price under which the item will not be sold during the auction. § 2) The acceptance of a bid shall be granted to the highest bidder unless a hidden reserve has been agreed upon with the consignor of the item in question. As a rule, the bid shall be increased by 10% of the last bid. ![]() The figures stated in the catalogue shall be the highest bid in Euro expected by the respective expert. In the event of any dispute concerning a double bid or if the auctioneer has missed a bid, the auctioneer shall be entitled to revoke acceptance of a bid and to continue auctioning the item. The auctioneer shall be entitled to withdraw lots exceptionally, to conduct the auction deviating from the order of the catalogue numbers and to offer lots jointly. The auction shall be carried out on commission. TERMS OF AUCTION Buyer’s Premium 26.4% including VATFurther information please read § 3 § 1) The auction shall be carried out in accordance with the provisions of the rules of procedure of GALERIE ZACKE ©, SZA VERSTEIGERUNGS UND VERTRIEBS GMBH, MARIAHILFERSTRASSE 112, 1070 WIEN (hereinafter referred to as the company) as well as in accordance with sections 244-246 of the GEWERBEORDNUNG of 1994
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