ASIATICA JAPAN SÜDOSTASIEN INDIEN, PERSIEN 18. JUNI 2024

AUCTION CONDITIONS KOLLER ZURICH These conditions apply solely to items which are auctioned by Koller (according to the defi- nition below) live in the saleroom. By participating in the auction, the bid- der accepts the following General Auction Conditions (“GAC”) of Koller Auctions Ltd, Hardturmstrasse 102, 8005 Zurich, Switzer- land (“Koller”). 1. Legal status of the parties The auction items are auctioned by Koller in the name of and on the account of the seller of the auctioned item (“Seller”). Koller acts on behalf of and for the account of the Seller as his agent as defined in article 32, section 1 of the Swiss Code of Obligations (“CO”). The hammer price is determined by the bidder recognised by Koller as having made the highest bid in Swiss Francs in the course of an auction (“Purchaser”), resulting in the conclusion of a purchase contract for the auctioned item between the Seller and the Purchaser (“Purchase Contract”). Koller is thereby not a party to the Purchase Contract. 2. Surcharge 2.1 In addition to the bid price, the Purchaser must pay a surcharge on such bid price cal- culated as follows: i. on a successful bid of up to and including CHF 400 000: 25% ii. on a successful bid over CHF 400 000 up to and including CHF 1 000 000: 25% on the first CHF 400 000 and 22% on the difference be- tween CHF 400 000 and the bid. iii. on a successful bid over CHF 1 000 000: 25% on the first CHF 400 000, 22% on CHF 600 000 and 15% on the difference be- tween CHF 1 000 000 and the bid. 2.2 If the winning bid is placed over the in- ternet in the course of a saleroom auction which is broadcast online (“Live Auction”), or leaves a pre-sale bid through an independent bidding platform which is linked with Koller, there will be an additional 3% surcharge add- ed to the hammer price. Bidders are subject to Koller’s terms and conditions as listed on the Live Auction website, which may differ in some respects from those listed here. 2.3 The stated percentage of the surcharge corresponds to the successful bid for each in- dividual item. The Purchaser must pay Swiss value added tax (“VAT”) on the surcharge. 2.4 The full tax is charged on all items marked * in the auction catalogue, i.e. VAT is charged on the sum of the bid price plus the surcharge for those items. The VAT will be refunded to Purchasers providing a validly stamped ex- port declaration. 2.5 The Purchaser agrees that Koller also has the possibility to receive a commission from the Seller. 3. Guarantee 3.1 Koller shall rescind the purchase (subject to Sections 3.2 and 3.3 below) in the name of and for the account of the Seller if an item proves to be a forgery. A “forgery” shall be deemed to exist if the item, in the reasona- ble opinion of Koller, is an imitation created with the intention of causing a deception with respect to the authorship, age, period, culture or origin, if the correct description of such content is not reflected in the auction catalogue (taking account of any additions), and if this circumstance significantly impairs the value of the item in comparison to an item corresponding to the catalogue description. An item shall not be deemed to have been forged if it is merely damaged and/or has been subjected to restoration work and/or modifications of any nature whatsoever. 3.2 A rescission in accordance with the above provision shall not take place at the discretion of Koller if: i. the description of the item in the auction cat- alogue was supported by the view of a spe- cialist or by the prevailing view of specialists, or if the description in the auction catalogue suggested that differences of opinion exist in this respect; ii. the forgery was not identifiable as such at the time of the successful bid in accordance with the current state of research and with the generally acknowledged and usual methods, or only with disproportionate effort; iii. the forgery (based on Koller’s conscientious assessment) was produced before 1880; or iv. the purchased item is a painting, watercolour, drawing or sculpture which according to the details set out in the auction catalogue was created prior to 1880. 3.3 The Purchaser may request rescission from Koller (as the agent of the Seller) from the day of the successful bid for a period of two (2) years (three (3) weeks for jewellery). The right of rescission shall be granted ex- clusively to the Purchaser and may not be assigned to any third party. Assertion of the claim shall be conditional upon the Purchas- er making a complaint to Koller by registered letter immediately after the discovery of the defect, and returning the purchased item to Koller in the same condition as it was hand- ed over to him and unencumbered by third parties’ claims. The Purchaser must provide proof that the item is a forgery. Koller may de- mand that the Purchaser obtains at his own expense expert opinions from two independ- ent individuals who are recognised experts in the field. However, Koller shall not be bound by any such expert opinion, and reserves the right to obtain additional expert advice at its own expense. 3.4 Koller may (as an agent of the Seller) at its complete discretion waive the assertion of grounds for exclusion pursuant to the above Section 3.2 or the fulfilment of preconditions pursuant to the above section 3.3. 3.5 If the purchase contract is cancelled in accordance with the provisions of this sec- tion 3, the Seller shall owe the Purchaser a refund of the purchase price (and any VAT paid). Koller shall then refund the Purchaser the surcharge plus VAT paid. Koller shall be under no legal obligation to repay the pur- chase price to the Purchaser. 4. Disclaimer 4.1 The items are auctioned in the condition existing at the time of the successful bid. The auctioned items are “used” objects and are therefore generally not in pristine condition. 4.2 Each item in the auction catalogue is list- ed with a description and an illustration. The information in the auction catalogue, as well as the condition reports issued by Koller, are intended to provide an overall impression and a non-binding assessment by Koller. Neither Koller nor the Seller can accept any liability for the details provided in the catalogue. The items may be inspected during the preview. The Purchaser is therefore invited to inspect an item prior to the auction and, possibly with the assistance of an independent spe- cialist advisor, to form his own opinion of the concordance between the item and the cat- alogue description. Concerning the descrip- tions of the items, the German-language print edition of the catalogue (including any later amendments) shall be exclusively applicable. Koller reserves the right to call upon experts or specialists of its choice to give an opinion and to rely on that opinion. Koller cannot be held liable for the correctness of such opin- ions. Neither any such expert opinions or re- ports, nor the descriptions of items provided by Koller, nor other statements pertaining to an item (including statements pertaining to the value thereof) constitute explicit or im- plicit warranties. 4.3 Subject to Article 3 above, no guarantee or warranty whatsoever is given in respect to legal and material defects. Any further or oth- er claims of the Purchase against the Seller or Koller under any legal title (including avoid- ance on the grounds of error pursuant to Art. 23 et seq. of the Swiss Code of Obligations) are also excluded. 5. Participation in the auction 5.1 Any party may participate in an auction as a bidder. However, Koller reserves the right at its complete discretion to prevent any person entering its premises or attending or partici- pating in its auctions. 5.2 Bidders who are not personally known to Koller must register at least 48 hours be- fore the auction, using the form provided for this purpose. The registration form must be signed, with legal effect, and a copy of the bidder’s passport must be enclosed, as well as current, valid credit card information. In the event of payment default by the Purchas- er, Koller shall be entitled to charge the Pur- chaser’s credit card in accordance with the details provided on the registration form for the entire amount of the invoice, plus the credit card processing fees. 5.3 Koller may demand in advance from any bidder a certificate of creditworthiness is- sued by a bank approved by Koller. 5.4 In the case of bids for items with upper estimated values of more than CHF 30 000, Koller may demand that the bidder first remits 20% of the lower estimated value as security. Following the auction, Koller will offset this sum against its claims and the claims of the Seller, and will reimburse any possible sur- pluses to the Purchaser/bidder without delay. 6. Auction 6.1 Koller may initiate the auctioning of an item below the minimum selling price agreed upon with the Seller. A bid placed at an auc- tion is a binding offer. The bidder shall remain bound by his bid until this is either outbid or rejected by Koller. Double bids shall immedi- ately be called once again; in case of uncer- tainty, the auction management shall decide. 6.2 Koller may refuse a bid without providing justification if a Purchaser fails to fulfil the conditions for participation in an auction pur- suant to the above Sections 5.2 to 5.4. Koller 228