Audemars Piguet

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Terms and conditions of business and auctions

By taking part in the auction, the participants in the auction acknowledge the following conditions:

§ 1 Scope, parties
(1) The following terms and conditions of business apply to auctions held by Auktionshaus Stahl GmbH & Co KG, represented by Auktionshaus Stahl Verwaltungs GmbH, Managing Director: Christiana Stahl-Kerle (Auktionshaus Stahl).
The regulations apply accordingly for the subsequent sale or sale by private contract of auction goods.

(2) Deviating, contradictory or supplementary general terms and conditions applied by the participant (bidder or purchaser) do not form a part of this contract, even if Auktionshaus Stahl is aware of them, unless Auktionshaus Stahl expressly approves their validity in writing. This requirement for approval applies in every case, for example even if Auktionshaus Stahl hosts the auction without any reservation while aware of the participant’s general terms and conditions.

(3) Ancillary agreements, amendments and supplements to the individual order and/or these general terms and conditions must be expressly agreed in writing.

§ 2 Auction schedule, catalogue information
(1) The objects to be auctioned may be viewed and inspected thoroughly before the day of the auction at the times specified in advance of the auction respectively. They are auctioned in the condition that they are actually in at the time of the acceptance of the bid, in a condition reflecting their origin, their age and their use to date. The objects may display distinguishing marks (e.g., damage), which are not extensively detailed in the catalogue or other descriptions. The catalogue information (images and/or descriptions), reports of condition and the information provided by the auctioneer when offering the item for auction are intended primarily as a descriptive depiction of the item being offered for auction. They do not constitute agreements on the legal and factual nature of the items in the sense of Section § 434 Para. 1 Sentence 1 BGB (German Civil Code) or guarantees.
In case of discrepancies between the German description and catalogue information available in any another language, the German catalogue text is always definitive.

(2) In case of auctions involving pictures and paintings, any frames are viewed purely as add-ons and – if present – merely as external protection for the pictures. The condition of the frames is not taken into consideration.

(3) Each participant in the auction must procure a bidding number at the entrance to the auction room before the auction begins, providing his name and address. Should the participation in the auction be as a representative for a third party, this must be duly reported and the names and addresses of both the representative and the person represented recorded. Auktionshaus Stahl is entitled to require each participant to prove his identity by means of an ID card or passport and to leave a credit card number or cash deposit as security before handing out the bidding number.

(4) Auktionshaus Stahl is entitled – insofar as there is a factual reason in each case – to auction off the items listed in the auction catalogue in a different order and to split, combine and omit catalogue numbers.

(5) The bidding is usually opened at the price specified in the catalogue. The bids are generally increased by 10% each time. The bidder is bound to his bid until the next, higher bid is accepted. If a bid is not valid, the validity of the previous bid is not affected. The validity of a bid also persists if Auktionshaus Stahl rejects the next, higher bid based on the stipulations of these terms and conditions.

(6) Auktionshaus Stahl accepts no liability for the maintenance or establishment of a telephone or Internet connection prior to and during the auction.

§ 3 Conclusion of contracts
(1) Auktionshaus Stahl hosts auctions publicly and voluntarily on behalf of and for the account of the vendor.

(2) a) Bids are placed either directly by bidders present in the auction room, indirectly by bidders participating in the auction by means of telecommunication channels (telephone, e-mail) or in writing.
b) Telephone bids are only possible if the catalogue price of the item to be auctioned achieves a value of at least € 500.00, in which case notification of intent to bid via telephone in each individual case respectively is also a commitment to place a bid of the limit price.
c) Bidders placing bids directly in the auction room must show their bidding number clearly.
d) Bids submitted in writing by new customers must be accompanied with a copy of the person’s ID card or passport and provision of the person’s bank details or credit card number in writing prior to the beginning of the auction. Bids in writing must be received by Auktionshaus Stahl by 6 p.m. at the latest on the day before the auction. Bids received after the deadline may not be considered.

(3) The sums specified in the bids in writing apply as the highest bid for the hammer price excluding the premium and VAT.

(4) All bids are placed in euros (€).

(5) The contractual relationships with the bidder/purchaser are concluded when Auktionshaus Stahl accepts the bid. The highest bid will be accepted after three calls for further bids. If several parties offer the same highest bid, Auktionshaus Stahl will decide which bid to accept.

(6) Auktionshaus Stahl reserves the right to refuse to accept a bid in individual cases when there are particular grounds to do so or only to accept said bid conditionally. Particular grounds include, for example, if the bidder has failed to supply adequate security to Auktionshaus Stahl prior to the auction despite having been requested to do so.
In cases where bids are accepted conditionally, the bidder remains bound to his bid for a period of 3 weeks from the time it is placed.

(7) The purchaser has no rights of revocation and/or return in accordance with Sections § 312b ff., 355 ff. BGB (German Civil Code).

§ 4 Progression after contract conclusion
(1) The purchaser must pay the purchase price in the sum of the hammer price to Auktionshaus Stahl.

(2) The purchaser is also obliged to pay Auktionshaus Stahl a premium in the sum of 22% of the hammer price and the applicable VAT.

(3) The purchase price and premium are due for payment immediately once the bid has been accepted and invoiced. The payment can be settled via a bank transfer, in cash or using a bank card (debit card, charge card (taking the personal limit into account); direct debits are not permitted) or credit card. Credit card payments are subject to a surcharge of 4.2% of the invoice sum.

(4) The item purchased must be accepted by the purchaser immediately after acceptance of his bid; the item purchased will be handed over once all payments due in accordance with § 4 Para. 1, 2 have been settled in full.

(5) In contrast to the provision in § 4 Para. 3, if the lot is won by a bidder not present in the room, in other words a bid from outside or a bid in writing, the purchase price and premium are due on receipt of the invoice and must be settled at the place of auction within 10 days of becoming due. In this case, the successfully purchased items must be collected from the place of auction within 10 days of receipt of the invoice.

(6) The risk of accidental perishing and/or accidental deterioration passes to the purchaser with the handing over of the purchased goods to the purchaser or, in the case of shipping of the purchased items at the bidder’s request, with the handing over of the goods to the forwarding company, freight carrier or other person or establishment commissioned by the purchaser to perform the shipping. Shipping is only possible based on special agreements and exclusively at the expense and risk of the purchaser.

(7) Auktionshaus Stahl only stores purchased goods subject to special agreements. If, in contradiction of the provision above, a purchased item is not collected within the period of time specified above after being purchased without such an agreement, the item purchased will be stored by a separate company once the deadline for collecting the item elapses. The costs incurred and the risk of accidental perishing and/or accidental deterioration of the goods are borne by the purchaser. Auktionshaus Stahl does not insure the purchased items.

§ 5 Reservation of title, offsetting, retention
(1) The vendor of the items to be auctioned reserves the title to the property until payment of the purchase price for the goods has been received in full. The purchaser must not resell the goods or make use of the property in any other way whilst the title is still reserved by the vendor.

(2) The purchaser may only assert offsetting rights or rights of retention with regard to the demand for payment of the purchase price and payment of the premium insofar as his claims are legally determined or undisputed.

§ 6 Liability
(1) Auktionshaus Stahl does not accept any liability except in cases of loss of life or limb or severe detriment to health which are at least due to a negligent breach of obligation on the part of Auktionshaus Stahl or an intentional or negligent breach of obligation on the part of an authorised representative or vicarious agent of Auktionshaus Stahl or damages which were caused by an intentional or grossly negligent breach of obligation on the part of Auktionshaus Stahl or an intentional or grossly negligent breach of obligation on the part of an authorised representative or vicarious agent of Auktionshaus Stahl.

(2) If the purchaser reports a defect on the purchased item, Auktionshaus Stahl is obliged to name the vendor including the complete name and address.

(3) Liability for defects is restricted to a period of one year from the handover date.

§ 7 Choice of law, jurisdiction
(1) These general terms and conditions and the legal relationships between Auktionshaus Stahl, the vendor and the purchaser are exclusively subject to the law of the Federal State of Germany. The United Nations Convention on Contracts for the International Sale of Goods (CISG) in particular does not apply.

(2) If the bidder/purchaser is a merchant in the sense of the German Commercial Code, a legal entity under public law or a special fund under public law, the exclusive – including internationally – legal venue for all disputes arising directly or indirectly from this contractual relationship is the headquarters of Auktionshaus Stahl in Hamburg, Germany. However, Auktionshaus Stahl is also entitled to file suits at the successful bidder’s general legal venue.

(3) Should individual provisions of these general terms and conditions prove to be partly or wholly legally invalid, the validity of the remaining general terms and conditions and any individual orders shall remain unaffected. In such a case, the parties will endeavour to replace the invalid clause with a valid one coming as close as possible to the intended economic aim of the invalid clause and agree on the validity of said clause.

Last amended: December 2017



Auktionshaus Stahl GmbH & Co KG,
Hamburg (AG Hamburg HRA 117044)
VAT identification no. DE293221150

Individually liable shareholder:
Auktionshaus Stahl Verwaltungs GmbH,
Hamburg (AG Hamburg HRB 129727)

Managing Director: Christiana Stahl-Kerle
Officially appointed and sworn auctioneer


ABBREVIATION LIST AUKTIONSHAUS STAHL HAMBURG
ad. - added/ additional
AGS - American Gem Society Laboratories
AIGS - Asian Institute of Gemmological Sciences
approx. - circa
Arab. - Arabic
attr. - attributed
beg. - beginning
BBK - Berufsverband Bildender Künstler
ct. - carat
cat. - catalogue
cat. - rais. catalogue raisonné
cent. - century
CIBJO - Confédération International de la Bijouterie, Joaillerie, Orfèvrerie
Chin. - Chinese
col. - collection
comp. - compare
D - diamond colour scale from CIBJO, very fine white+
d. - depth
dam. - damaged
dat. - dated DeGB Deutsche Gesellschaft für Edelsteinbewertung Idar-Oberstein def. - defect
diam. - diamond
dm. - diameter
DSEF - Deutsche Stiftung Edelsteinforschung
E - diamond colour scale from CIBJO, very fine white
exh.- exhibition
F - diamond colour scale from CIBJO, fine white+ fl - flawless
G - diamond colour scale from CIBJO, fine white
g. - gramm
GEDOK - Gemeinschaft deutscher und österreichischer Künstlerinnenvereine GIA - Gemological Institute of America Inc.
GRS - GemResearch Swisslab
H - diamond colour scale from CIBJO, white
h. - hight
HRD - AntwerpHoge Raad voor Diamant
I - diamond colour scale from CIBJO, slightly tinted white
im. - images
if - finternally flawless
i.a. - inter alia
J - diamond colour scale from CIBJO, slightly tinted white
Jap. - Japanese
K - diamond colour scale from CIBJO, tinted white+
kt. - Karat
L - diamond colour scale from CIBJO, tinted white
l. - length lit.- literature
lo. ri/ lo. le. - lower right/ lower left
lo. - low
mm - master mark
min. - minimal
mod. - modern
MK&G - Museum für Kunst und Gewerbe
Nat.-Gall. - National-Gallery
num. - numbered
P. - Piqué
p. - page
part. - partially
plast. - plastic
prof. - professional
prov. - provenance
pub. - Published
rep. - repaired
rel. - relined
rest. - restored
si - small inclusions
sign. - signed
SHLM - Schleswigholsteinisches Landesmuseum Schloss Gottorf
SSEF - Swiss Gemmological Institute
stamp. - stamped
stamp sign. - stampsigned
T-Z - diamond colour scale from CIBJO, tinted
tit. - titled
up. ri/ up. le. - upper right/ upper left
vs - very small inclusions
vvs - very, very small inclusions
vol. - volume
w. - width