Consignment conditions

At date of 01.01.2011

1. The employees of the Auktionshaus Kloss shall act as agents of the seller for the
sale of the item. All goods remain the property of the seller until payment is
received in full. The auctioneer will store the items safely in adequate rooms
without charges. On behalf of the client, the auctioneer will insure the goods
against burglary, fire, tap water damage and windstorm upon payment of the
valuation price less the agreed commission. According to the terms of the
agreement, the auctioneer will charge the seller if a third person must store the
items. The estimated value equal to the insurance value is considered the
limited amount for the claim for indemnity.

2. The seller must ensure holding the right to dispose of the property by
providing proof of authority (e.g. purchase certificate) if requested by the
employees of the Auktionshaus Kloss. In every case of reasonable doubts
regarding the absolute power of disposition, the auctioneer is entitled to
terminate the contract without notice if the seller is not able to provide any
proof of authority to sell the good. The seller will automatically be charged with
all incurred expenses. Furthermore, the claim for damages is invalid.

3. The representation and description of the property in the auction catalogue
edited by Auktionshaus Kloss refer precisely to the specified information
provided by the seller. The auctioneer is held responsible for deliberate action
and/ or gross negligence. The liability of the seller towards the buyer concerns
authenticity, origin, age, size and other guaranteed features. The Auktionshaus
Kloss is entitled to terminate all contracts between the seller and the
auctioneer if indicated details about the item made by the seller appear

4. The Auktionshaus Kloss is authorized to valuate every item for the auction sale.
The valuation price of each item is listed in the auction catalogue. The seller
shall know that the valuation of art objects as well as antique objects is fraught
with uncertainty. The auction house can therefore assume no liability, only in
the case of deliberate action and/ or gross negligence.

5. The seller and the auctioneer are entitled to agree in writing that a third person
is enabled to prove the authenticity and the state of preservation of the
property. The auctioneer is entitled to obtain an expert opinion. According to
the terms of the agreement, the seller approves of all necessary measures taken
by the expert authorized by the particular association. All costs incurred fall to
the seller.

6. The employees of the Auktionshaus Kloss shall act as agents of the seller for the
sales of the items. The auctioneer is entitled to hold the auction according to
the conditions of the Auktionshaus Kloss (01.01.2011).

7. The seller is authorized to set the hammer price in the signed contract. The
limited price is considered a guideline for any bid and/ or direct offer made.
The auctioneer is entitled to offer the item for half of the valuation price if the
seller names no limits. In case the acceptance of a bid underlies 10% of the
limited price, a conditional sale will take place. The auctioneer must not settle
the balance. The bidder remains under obligation for four weeks. The
auctioneer confirms the acceptance of a bid using dutiful discretion, if the seller
named not limited price. The valuation price made by the Auktionshaus Kloss is
nonbinding. Gold and silver items refer to the general value of gold and silver.
Oriental carpets and other textiles must be chemically treated before sending it
to the auction house. The costs fall to the seller.

8. The auctioneer is responsible for the devolution and delivery of the property.
The seller relinquishes all claims to the auctioneer. The Auktionshaus Kloss
should be under no obligation to account to the seller for sums due from the
buyer until payment for the property sold has been made by the buyer to the
auction house and the auctioneers will account to the seller within four to six
weeks of the later of the auction. The contract includes the exact amount of
commission. In addition to the commission, the seller must pay a fee (10€ to
100€ plus VAT) depending on the size of the item for costs on catalogue images
as well as advertising. The auction house will email individual images (3€ each)
if requested. Images will be sent by email only after the auction house received
the payment. The reimbursement of expenses is due even if the seller
withdraws from the made offer. Objections against the accounting must be
made within two weeks after receiving an invoice. If the conditions of delivery
imply no exceptional regulations, the liability of the auction house and its
employees refer only to deliberate action and/ or gross negligence.

9. If the property is unsold and the seller refuses to collect its property within
three weeks, then the auctioneer is enabled to offer the same property again for
50% of the estimated auction price. If the property remains unsold for 12
month then the auctioneer is entitled to sell or donate the property.

10. If the conditions of the contract contain no exceptional regulations, then the
responsibility of the auctioneer regarding the case of deliberate action and/ or
gross negligence concerns every employee of the auction house. The
Auktionshaus Kloss can be held responsible for negligence in the case of
cardinal duty and/ or foreseeable damages made by the auction house.

11. All contracts come under German law. The place of fulfilment is in Berlin. The
place of jurisdiction for disputes as well as action on a bill of exchange/ cheque
is also in Berlin.