The contract

The auction object (the "Object") is auctioned by Ineichen Zürich AG, Zurich ("Ineichen"), in the name and for the account of the Consignor / Seller (the "Seller"). The lot will be knocked down to the highest bidder (the "Buyer") after three calls and will result in the conclusion of a purchase contract between the Seller and the Buyer. The bid is considered winning only when knocked down with the hammer by Auctioneer and confirmed via e-mail or phone-call by Us. The Buyer expressly acknowledges that, irrespective of the specific circumstances, Ineichen always acts as the direct representative of the Seller, so that the contract of sale is exclusively between the Buyer and the Seller. With each oral or written bid submitted, the auction participant acknowledges these auction conditions.

Buyer's liabilities

Each buyer is personally liable for the bids made by him orally or in writing as well as from a knockdown awarded to him and a purchase contract with the seller resulting therefrom. Ineichen may require persons bidding as a proxy in the name of another person or as an organ of a legal entity to furnish proof of their power of representation. A person acting as a proxy is jointly and severally liable with the person represented, without limitation, for the fulfilment of all obligations in this connection. A bid submitted at the auction is considered a binding offer until it is outbid or rejected by Ineichen. Ineichen may demand from a bidder unknown to it that he legitimises and identifies himself.


Buyer's premium

As of May 2022, we officially cancel the buyer’s premium. The buyer’s obligation is limited to the hammer price and VAT payment only.


VAT

The applicable Swiss Value Added Tax shall be paid by the buyer on the net hammer price (as a price of the product purchased in Switzerland). Buyers who present an export declaration duly stamped by the Swiss customs authorities will be refunded the value added tax levied on the net additional price if the value added tax exceeds the amount of CHF 30. For goods shipped outside of Switzerland, Swiss VAT can be excluded from initial invoice by request of a buyer. If the product is shipped outside of Switzerland, both service and product considered to be exported, hence VAT is excluded for the hammerprice. In such case the buyer is liable to pay all the duties (e.g.: import tax and VAT) according to the importing state laws. The request for VAT exclusion should be submitted to info@ineichen.com

Payment

Payment of the net hammer price and value added tax shall be made at the auction or no later than 10 days after the date of the auction execution in cash or by any other method of payment accepted by Ineichen. In case of late payments an interest on arrears of 10% p.a. will be charged on the net hammer price. The delivery of the object takes place in principle after full payment by the buyer. Ineichen has a right of retention and a lien on the object for all its claims against the buyer. It is authorised to realise the object in accordance with the provisions of the SchKG or to sell it by private contract; Art. 41 SchKG is not applicable.

If payment is not made on time, the buyer will be given a 10-day grace period by means of a reminder. If this period also remains unused, the purchase is considered as cancelled by the buyer (Read “Purchase Cancellation” section of these Auction Conditions). Ineichen may adhere to the fulfilment of the purchase contract on behalf of the seller. The assertion of compensation for the delay and further damages is explicitly reserved. Alternatively, after expiry of the period of grace, Ineichen may declare withdrawal from the purchase contract in the name of the seller and, after prior consultation with the seller, connect the objects bought by the buyer to a subsequent auction without limitation or sell them by private treaty. In these cases, the buyer has to pay 10% of the net hammer price for Ineichen's expenses.

Purchase cancellation

In case of purchase cancellation for any reason except for the product condition, as described in the “Product Conditions” section of this Auction Conditions, the company is authorized to blacklist the client and freely distribute the information amongst other auction houses.

In these cases, the buyer has to pay 10% of the net hammer price for Ineichen's expense.

Seller’s Commission

Ineichen Auctioneers charges a single Seller’s Commission rate for the services we provide. The commission is calculated on each item as a fixed percentage based on the eventual hammer price at auction. 

The commission is to be subtracted from the hammer price paid by the buyer. The commission amount is calculated based on the following model:

CHF 50 000 < Net Hammer Commission = 20%
CHF 50 000 < Net Hammer < CHF 150 000 Commission = 15%
Net Hammer > CHF 150 000 Commission = 10%

Auction execution

State control

The Stadtammannamt Zürich 1 shall participate in the auction. The organisation, management, calling, knocking down, recording, collection of the proceeds (hammer price), surrender of the objects and settlement with the consignors are the responsibility of Ineichen, subject to the decision of disputes. Neither the mayor, his representatives, the city nor the canton of Zurich shall be liable for their actions.

All legal relations between Ineichen, the seller and the buyer shall be governed by substantive Swiss law, excluding conflict of law provisions. Place of performance and exclusive place of jurisdiction is Zurich.


Product conditions

Ineichen reserves the right to combine or separate individual lots in the auction catalogue, to offer them out of sequence or not to put them up for auction. Bids, calls and knockdowns below any limits are permitted.

The objects will be auctioned in the condition they are in at the moment of the knockdown. Every interested party shall have the opportunity to inform himself personally about the condition of the object at the exhibition preceding the auction. The description of the object in the auction catalogue has only the character of an expression of opinion and does not constitute a warranty of qualities. Ineichen is not liable for incorrect descriptions or incorrect information regarding origin, date, age, provenance, condition or authenticity, nor for any other open or hidden defects. With the exception of the following provision, any kind of warranty by Ineichen is excluded in its entirety and to the extent permitted by law. The seller's liability towards the buyer is also excluded in its entirety and to the extent permitted by law.

If a buyer provides Ineichen with written proof within 30 days after the auction of an object (knockdown) that the object is a forgery, Ineichen may declare the withdrawal from the purchase contract on behalf of the seller and refund the knockdown price plus buyer's premium and value added tax, if:
a) the object is returned to Ineichen within 14 days after this notification in the same condition as it was at the time of the knockdown;
b) Ineichen has not yet handed over or transferred the knockdown price to the seller.
Ineichen may require the buyer to obtain expert opinions from two independent experts at his own expense in order to prove the existence of a forgery. Ineichen is in no way bound by such expert opinions and explicitly reserves the right to obtain additional expert opinions at its own expense.

All claims of the buyer against Ineichen and the seller are limited to the reimbursement of the hammer price plus buyer's premium and value added tax. Further or other claims of the buyer against Ineichen and the seller are excluded in their entirety and to the extent permitted by law.

Ownership rights transmission

The benefit and risk of the objects shall pass to the buyer upon acceptance of the bid. The objects will only be handed over to the buyer after full payment of the hammer price, buyer's premium and VAT. The objects may be collected immediately after the auction or at the latest 30 days thereafter after prior notification by telephone at the business premises of Ineichen during normal business hours. In case of objects which have not been collected 10 days after this date, Ineichen is entitled to have them stored at the buyer's expense and risk.

Shipping

If required, Ineichen offers to transport the object at the buyer's expense.

Please contact for this:

Tibbett+Britten Unique AG
Freight West
P.O. Box
8058 Zurich-Airport
Phone: +41 44 804 20 00
Fax: +41 44 804 20 09
E-mail: info@tbunique.ch