These general Terms and Conditions of Sale are exclusively binding for all bids, whether made in person or writing, irrespective of any written acknowledgements.

1. The sale is public and voluntary. All lots, with the exception of the personal lots of the Auctioneer will be auctioned on behalf and for account of third parties against immediate payment in Euro.

2. The bidding increments are as follows - up to EUR 200,- EUR 5,00; up to EUR 500,- EUR 10,-; up to EUR 1.000,- EUR 25,-; from EUR 1.000,- EUR 50,-; from EUR 2.000,- EUR 100,-; from EUR 5.000,- EUR 250,- and so forth.

3. "Best price" bids will be limited to five times the value of the starting price. All order bids sent in by wire or telephone must be previously notified and confirmed in writing.

4. Lots will be knocked down to the highest bidder. The auctioneer has the right to refuse a bid, to withdraw lots or to recombine lots. In the case of doubts or misunderstandings. The lot in question will be reauctioned. Any such decision is the sale entitlement of the Auctioneer.

5. In the case of identical written bids the time of receipt by the Auctioneer will determine the priority; in the case of identical bids with bidders from the floor, the written bid will prevail. In the case of discrepancies at the hammer price, the Auctioneer is entitled to reauction the lot in question.

6. A purchaser's premium of 20 % is levied on the hammer price plus a charge of EUR 1,- per lot. The purchaser's premium and the lot charge are subject to VAT at a current vote of 19 %. Costs for post-age and packing will be invoiced separately. Dealers from countries within the European Union are exempted from German VAT provided they notify the Auctioneer of their VAT ID Number. Lots sent by the Auctioneer to countries outside the European Union are similarly exempt from German VAT

7. The successful bidder is obliged to accept delivery of the lot without exception. The responsibility for the lot is transferred to the purchaser with the fall of the hammer. Delivery is for the account and responsibility of the purchaser. The ownership rights are not transferred to the purchaser until the purchase price has been paid in full.

8. Persons acting as agents for third parties assume full responsibility along with their principals.

9. If payment is not made to the Auctioneer immediately or the incumbent acceptance of delivery is refused, the purchaser forgoes all rights arising from the knock-down and the open market or reauctioned for this account without prior notification. In this case, the initial purchaser is responsible for any loss of profit. On the other hand, he has no entitlement to possible surplus proceeds and will be barred from making further bids.

10. The authenticity of the autographs is guaranteed. Claims are only possible up to the respective invoiced amount and must be lodged within the appropriate claims period after the auction date, as indiated below. Objects showing substantial faults or differences with respect to the details in the catalogue will be taken back at the invoice value.

Such claims must be lodged within a period of three days after receipt of the consignment, however not later than three weeks after the auction date. Claims of any description against the Auctioneer expire 12 months after the auction date at the latest. Bundles and combined lots cue bought as viewed.

11. By placing a bid either in writing or in person, the purchaser agrees to be bound by these General Terms and Conditions of Sale.

12. Exclusive place of performance and jurisdiction for all parties is Krefeld, Federal Republic of Germany.

The Auctioneer

Axel Schmolt, Steinrath 10, 47807 Krefeld