KOLLER TRX-293 TRINITY 18 April 2023

pursuant to the above Sections 5.2 to 5.4. Koller may also pass or withdraw auctioned items without a sale even if this is not apparent to the auction participants. 6.3 Koller reserves the right to combine, separate or omit numbered lots in the catalogue or to offer themout of sequence. Koller reserves the right to sell lots “conditionally” at its sole discretion, in which event the hammer price will be considered as conditional and the highest bidder will remain bound by his bid for 14 days following the auction. The highest bidder will be released from all obligations if he does not receive a statement fromKoller within this period declaring the hammer price as final. 6.4 Written bids from potential Purchasers who cannot attend the auction in person are accepted up to 48 hours before the auction begins. 6.5 Potential Purchasers may bid by telephone if they have given written notice at least 48 hours before the auction starts. Koller does not accept telephone bids for lots estimated under CHF 500, and bidders are requested to leave a written bid or participate in the salesroom for such items. 6.6 Potential Purchasers who intend to place their bids in the course of a Live Auction may participate in the auction once their registration applications have been approved by Koller. Koller reserves the right to decline registration applications at its discretion. 6.7 Koller shall not be liable for any bids including advance notifications of telephone bidding which are not taken into consideration. Telephone biddersandpersonsgivingwritten instructionsare also subject to the provisions of Article 5 relating to proof of identity and financial soundness. 7. Transfer of title Ownership of an auctioned item shall be transferred to the Purchaser as soon as the purchase price and the surcharge (incl. VAT) have been comprehensively paid in Swiss francs and Koller has attributed these payments to the corresponding item. 8. Collection of the auctioned items 8.1The auctioned itemsmust be collected at the Purchaser›s own expense within 7 days from the end of the auction during official opening hours. The place of performance for the purchase contract between the Purchaser and the Seller is therefore the registered office of Koller. If time permits, the items may be handed over after each auction session. The handover shall take place following comprehensive payment of the purchase price as well as the surcharge (incl. VAT) and the attribution of this sum to the auctioned item by Koller. 8.2During theaforementionedperiod, Koller shall be liable for loss, theft, damage or destruction of items which have been auctioned and paid for, although solely due to intentional or grossly negligent acts on the part of Koller, and only up to the total of the auction price, surcharge and VAT. Koller ceases to have liability after the aforementioned period, and the Purchaser shall be responsible for ensuring adequate insurance cover for the auctioned item. No liability can be assumed for frames and glass. If the auctioned items are not collected within 7 days, Koller will store the works at a company of their choice at the purchaser’s own risk and expense or on their own premises at a daily rate of CHF 10 per object. 8.3 Shipping orders may be given to Koller in writing. All shipping costs shall be borne by the Purchaser. Unless otherwise agreed in writing, transport insurance shall be contracted for the sold items at the expense of the Purchaser. Glass-covered pictures and fragile items shall not be sent by Koller. 9. Payment for the auctioned items 9.1 The invoice for a successful bid for an auctioned item is payable in Swiss francs within 7 days from the end of the auction. Payments by credit card are only possible with the approval of Koller’s accounting department, and are subject to processing fees amounting to between 2 and 4% of the invoiced amount, payable by the purchaser and added to the invoice total. 9.2 Irrespective of the Purchaser‘s instructions, Kollermay use any payments by thePurchaser as settlement for any debt owed by the Purchaser to Koller or the Seller and set off any debt which it owes to the Purchaser against its own claims. If the Purchaser defaults on a payment, default interest of 10%p.a. shall be chargedon topof the invoiced sum. If Koller does not receive payment for purchases within seven (7) days following the auction, Koller reserves the right to charge the Purchaser’s credit card for the full amount of the invoice, without further notification to the Purchaser. In such cases the credit card processing fees of 2–4% as described above are also applicable, and will be charged to the Purchaser’s credit card. 9.3 If the Purchaser does not pay or does not pay promptly, Koller may moreover in its own name and in the Seller›s name either (i) insist on the fulfilment of the purchase agreement or (ii) without further notice withdraw from the purchase agreement and waive the subsequent performance of the Purchaser or assert a claim for compensation for non-performance; in the latter case Koller shall also be entitled, irrespective of any minimum sales price, to sell the item either directly or in an auction, and may use the proceeds to reduce the debts of the Purchaser. Any amount realised above the original hammer price shall be paid out to the Seller. The Purchaser is liable to Koller and the Seller for all prejudice caused by non-payment or late payment. 9.4 Koller retains a right of retention and a lien on all the Purchaser›s items in its custody until full payment of all monies owed. Koller may exercise such liens in accordance with the legislation on the enforcement of debts or by private sale (including in its own name). The plea of prior lien exploitation pursuant to Art. 41 of the Swiss Debt Collection and Bankruptcy Act is excluded. 10. Representation Each Purchaser shall be personally liable for each bid he places, and for the purchase contract between the Purchaser and the Seller. Proof of the power of representation may be requested from persons bidding as agents for a third party or as an organ of a corporate body. The agent shall be jointly and severally liable with his principal for the fulfilment of all obligations. 11. Miscellaneous provisions 11.1 The auction shall be attended by an official fromthe city of Zurich. The attending official, the local authority and the state have no liability for the acts of Koller. 11.2 Koller reserves the right to transfer any or all rights and obligations from these Auction Conditions to a third party or to have these carried out by a third party. The bidder and/or Purchaser does not have the right to transfer any rights from these Auction Conditions to a third party. 11.3 Koller reserves the right to publish illustrations and photographs of sold items in its own publications and the media and to publicise its services therewith. 11.4Theaforementionedprovisions formpart of each individual purchase agreement concluded at the auction. Amendments are binding only with Koller›s written agreement. 11.5 Should certain provisions of these Auction Conditions be or become partially or fully invalid and/or unenforceable, this does not affect the validity of the remaining provisions. The invalid and/or unenforceable provisions shall be replaced by those which most closely approximate the economic meaning and intended economic purpose of said provisions. The same shall be applicable to any possible gaps or loopholes in the provisions. 11.6 The present Auction Conditions and all amendments thereof are governed by Swiss law, under exclusion of possible references to Switzerland’s Federal Code on Private International Law (CPIL), and under exclusion of the Vienna C.I.S.G. Convention (UNConvention). 11.7 The courts of the Canton of Zurich shall be exclusively responsible for settling disputes (including the assertion of offsetting and counterclaims) which arise out of or in conjunction with these Auction Conditions (including their validity, legal effect, interpretation or fulfilment). Koller may, however, initiate legal proceedings before any other competent court. 11.8 In the event of any discrepancy between the different language versions of these Auction Conditions, the German language version shall prevail. Zurich, 1 July 2018 You can find the German auction conditions via the following link: