Conditions for buying at quality auction

1. Absentee bids

1.1 Stockholms Auktionsverk accepts absentee bids free of charge. Bids can be submitted in writing to Client Services or on Internet www.auktionsverket.se.

1.2 When absentee bids are submitted, acceptable references must be supplied and ID enclosed. Stockholms Auktionsverk reserves the right to disregard from submitted bids if the client is considered unable to pay for the bid submitted.

1.3 Absentee bids in writing must be received by Stockholms Auktionsverk not later than 5 p.m.the day before the auction. When viewing and auction takes place on the same day absentee bids must be received not later than 1 hour before the auction starts. Absentee bids on Internet can be submitted until 1 hour before the auction starts. Withdrawal or change of a absentee bids must be in writing and must reach Stockholms Auktionsverk within the same time limits as for absentee bids. Stockholms Auktionsverk reserves the right to disregard bidding assignments that have been submitted after the stated time limits.

1.4 Stockholms Auktionsverk treats absentee bids confidentially and bids as favourable as possible on behalf of the
client.

1.5 In the event of equal bids, the first one will confer the right of purchase. Alternative bids can only be made for two lots.

1.6 Stockholms Auktionsverk is not liable for any loss that the client may be caused if Stockholms Auktionsverk fails to carry out the absentee bids.

1.7 The client is held responsable for purchases registrated from an illegible or incorrect absentee bid.

2. Bidding

2.1 Participants in the bidding shall in advance request a numbered bidding paddle from Client Services.

2.2 Bids shall be made with loud voice or by a clear sign such as indicating with the bidding paddle.

2.3 Bidders by telephone shall make a request in writing to Client Services not later than 4 p.m. the day before the auction. Clauses 1.2 to 1.7 are applicable for telephone bidding.

2.4 The buyer is the person who made the highest bid. In the event of equal bids or disputes that may arise during bidding the auctioneer alone will decide conclusively which bid confers the right of purchase.

2.5 The auctioneer is entitled to disregard bids from a certain bidder and to determine whether bidding shall be resumed owing to doubt concerning the last bid.

2.6 The auctioneer is entitled to establish by what amount a bid must be raised in order for a new bid to have been made.

2.7 A purchase shall be confirmed by showing the bidding paddle to the auctioneer. A binding registration of purchase is then made.

2.8 Transfer of purchase or other direction afterwards to a purchaser other than the one who purchased the item is not allowed.

3. Estimate

The estimated price of a lot is based on a market valuation of the lot made by Stockholms Auktionsverk. The estimate acts only as a guide and the price at which the lot is sold may vary considerably from the estimate.

4. Charges on purchase

4.1 In connection with purchase a premium of 22,5% incl. VAT on the hammer price is payable for each lot. If the hammer price is above SEK 5 million the premium is 15 % incl VAT on the exceeding part.

4.2 Pursant to the Swedish Copyright Act (1960:729) 26j§, Droit de suite of maximum 5% on the hammer price will be payable on works of art, ceramics, glass, silver, furniture and textiles. Only works under copyright are included. The copyright lasts 70 years after the death of the author. Works of art qualifying for Droit de suite are marked in the catalogue with a D after the lot number.

5. Results

5.1 It is the responsibility of the bidder to find out if an absentee bid has been successful.

5.2 Purchasers will receive a written conformation of purchases after the auction.

5.3 Results are available on Internet, www.auktionsverket.se

6. Payment

6.1 Payment can be made immediately after the hammer has fallen by payment by credit card to bank- or postal giro account or bank account. Payment should be made within 10 working days after the purchase.

6.2 If payment is not made according to clause 6.1 Stockholms Auktionsverk is entitled to take one or more of the following measures:

(i) Cancel the purchase

(ii) Demand payment.

(iii) Charge SEK 50 in reminder fee

(iv) Charge penalty interest of 2% per month

(v) Resell the lot on behalf ot the purchaser without special notification to the purchaser.

Stockholms Auktionsverk has full and unrestricted right to decide the estimate and whether a reserve price is to be set for the lot or not. Stockholms Auktionsverk is entitled to deduct compensation from the amount received for all claims that Stockholms Auktionsverk has on the purchaser.

7. Collection

7.1 Purchased lots may be collected as soon as full payment has been made and the payment has reached Stockholms Auktionsverk. Lots should be collected within 10 working days after the purchase.

7.2 For lots that are not collected according to clause 7.1 a storage fee will be charged of SEK 50 incl. VAT per lot and calendar day. For furniture and other bulky lots, a double storage fee will be charged.

7.3 Stockholms Auktionsverk are not liable for the care of lots not collected within the time limits in clause 7.1.

7.4 For lots that are not collected within 10 working days after the purchase, Stockholms Auktionsverk is entitled to take the following measures:

(i) Transfer of lot to warehouse of any forwarding company. All transport and storage costs will be charged to the purchaser.

(ii)Resale of the lot on behalf of the purchaser without special notification to the purchaser.
Stockholms Auktionsverk has the full and unrestricted right to decide the estimate and whether a reserve price is to be set for the lot or not.

Stockholms Auktionsverk has the right to deduct compensation from the amount received for all claims that Stockholms Auktionsverk has on the purchaser.

7.5 All transports of lots to customers, take place at the purchasers cost and at the purchasers own risk. Stockholms Auktionsverk can arrange transport of purchased lots to Gothenburg and Malmoe. Transport fee is charged according to price list.

8. Liability for defects

8.1 All lots are sold in existing condition. It is incumbent on the purchaser by means of his own examination of the lots before the auction to assess the condition and quality of the lots. Stockholms Auktionsverk is not liable under any circumstances for natural wear and tear, minor damage and defects, any mounting of canvases, condition of frames, natural changes in natural materials such as bleaching of paper and formation of cracks in wood.

8.2 Clocks and clockwork are sold as objects of art and Stockholms Auktionsverk does not guarantee that they function technically as timepieces.

8.3 Information given in catalogues concerning, for example, artist, authenticity, age, technique, provenance or condition serves only as guidance for the purchaser in connection with his examination of the lot. Stockholms Auktionsverk is not liable for information of this nature being incorrect unless the incorrect information was provided as a result of gross negligence. Stockholms Auktionsverk is liable for ensuring that information in catalogues concerning the artist of a lot correctly reflects the generally accepted opinion when the catalogue is printed.

8.4 Illustrations in catalogues are for the purpose of identification only. Stockholms Auktionsverk is not responsible for damage or defects that are not shown in such illustrations.

8.5 Lots are sold according to the description given in the catalogue. Stockholms Auktionsverk reserves the right to change the catalogue description. Any change of this nature will be posted or announced orally in connection with the auction.

8.6 Stockholms Auktionsverk is entitled to correct defects in lots sold that Stockholms Auktionsverk is responsible for. If correction does not take place within a reasonable period of a complaint concerning the defect having been made, the purchaser is entitled to cancel the purchase and, in return for returning the lot, receive the amount he paid to Stockholms Auktionsverk in connection with the purchase. The purchaser is not entitled to any further compensation.

8.7 Any defects must be made the subject of a complaint immediately after the purchaser discovered or should have discovered the defect, but at the latest 10 days after the purchase. Complaints concerning details of artist as stated in clause 8.3, paragraph 2 above, must, however, be made within 3 years of the purchase.

8.8 Stockholms Auktionsverks liability for defects is limited to what is stated in these conditions.

9. Delay in delivery

9.1 If delayed delivery due to circumstances Stockholms Auktionsverk is responsible for lasts more than 20 working days and is of substantial significance for the purchaser and Stockholms Auktionsverk should have realized this, the purchaser is entitled, by means of a written statement to Stockholms Auktionsverk, to cancel the purchase and, receive the amount he paid to Stockholms Auktionsverk in connection with the purchase. The purchaser is not entitled to any further compensation.

9.2 Stockholms Auktionsverks liability in connection with delay is limited to what is stated in these conditions.

10. Force majeure

Stockholms Auktionsverk is exempt from sanction for failure to meet a certain obligation in accordance with this agreement if the failure is based on a circumstance of the type stated below and the circumstance prevents, or considerably hinders, the obligation being met promptly. Circumstances providing grounds for exemption include act of war, currency restrictions, shortage of transport, fire, measures taken by an authority, change in legislation, industrial conflict, general shortage of goods, restrictions on fuel, accident or equivalent cirumstances. If Stockholms Auktionsverks meeting of a certain obligation is delayed more than three months owing to a circumstance providing grounds for exemption, the purchaser is entitled, without having to pay compensation, to cancel the purchase in writing.

11. Disputes

Disputes concerning these terms shall be settled in accordance with Swedish law at a court in Sweden.
these conditions of business are valid

from 2011-04-01