Which shall also apply without written acknowledgement when bids are submitted. These are exclusively authoritative when placing purchase orders or personal bids on the auction.

1. The auction is voluntary and public. It is conducted by the company Alexander Schulz in its own name for the account of its clients, who remain unnamed, as commission agent against immediate cash payment in euros. Payments in foreign currencies will be credited at the buying rates of our bank valid on the day of crediting.
2. The lot will be knocked down to the highest bidder if no higher bid is submitted after three calls. The auctioneer has the right to refuse the knockdown, regroup lots, withdraw or divide lots. In the event of misunderstandings, the auctioneer has the right to offer the lot again. The auctioneer is not obliged to adhere to the order of the lots. In the event of equal bids, the first bid received shall be accepted, but room bidders must always outbid written bids.
3. Purchase orders are executed conscientiously, but without guarantee. In no case will bids be accepted on the basis of the highest prices offered, but will be awarded in accordance with the auction rates. In the case of “best” orders, we will raise the bid up to five times the starting price. Bid lots will be knocked down at the highest bid.
4. The minimum increase is:
   • up to €50: €2
   • up to €100: €5
   • from €100 to €200: €10
   • from €200 to €500: €20
   • from €500 to €1000: €50
   • from €1000 to €2000: €100
   • from €2000 to €5000: €200
   • over €5000: €500
   • over €10000: €1000
5. Unless otherwise indicated, the lots to be auctioned are subject to differential taxation in accordance with § 25a UStG. The auctioneer receives a commission of 24% (incl. VAT) of the hammer price and €2.50 (incl. VAT) per lot from the buyer. VAT will not be shown. For customers outside the EU, the buyer’s premium is 20%. Costs for postage, packaging and insurance will be charged separately. Each bidder bids in their own name and for their own account.
6. The acceptance of the bid obliges the buyer to take delivery. Buyers present at the auction must pay the total purchase price immediately, external buyers immediately after receipt of the invoice. Delivery of purchased lots occurs only after payment of the invoice. Ownership transfers only upon full payment, risk transfers upon acceptance of the bid. The auctioneer may sue after a reminder or cancel the purchase after two warnings. Lots not paid within 14 days may be resold. A 2% default surcharge and 1% interest per started month will apply. The original buyer is liable for any shortfall from resale; surplus belongs to the consignor. Bidders acting for others are liable under § 179 BGB.
7. The description of the lots is made with the utmost care and to the best of our knowledge, but without binding effect. Catalog prices are approximate. Complaints must be submitted within 14 days of receipt with the items in original condition. Deadline extensions may be granted only in special cases. Complaints are handled for the consignor’s account. Valid complaints entitle buyers to refund of purchase price and commission. No further claims will be accepted. Examination costs are not refunded.
8. Complaints are accepted only if items are in original condition. Any markings not from authorized experts are considered alterations. The “FALSE” mark is not an alteration. Photo-based errors (margins, stamps, perforation, centering, etc.) are not grounds for complaint. Lots with over three stamps cannot be complained about due to minor faults. Pre-described defects cannot be claimed again. Complaints are excluded for collections, bulk lots, or unsorted items.
9. If requested in good time, individual lots may be sent for inspection at the buyer’s risk and expense, with immediate return required. Late returns, even after reminders, result in full liability for hammer price, premium, lot fees, VAT, and other charges.
10. The auctioneer reserves the right to exclude individuals from the auction for specific reasons. Trading and bartering are prohibited in the auction room.
11. The place of performance for all services arising from the auction contract is Nuremberg. German law applies. If the buyer is not a merchant under § 29 II ZPO, the Nuremberg Local Court shall have jurisdiction for the dunning procedure.
12. The public auction will take place at Frauentorgraben 73, 90443 Nuremberg. The public online auction will be published on the websites www.schulz-auktionen.de and www.philasearch.com.