The following terms and conditions are accepted by all persons participating in the auction:

1. The auction sale is by upward bidding to the highest bidder against cash payment in EURO with a premium of 20 % of the hammer price.

2. The auctioneer is entitled to waive payment in cash and to supply the merchandise against invoice. Invoices are to be paid within 15 days. The cost of postage, insurance and bankcharges will be charged to the buyer. An interest of 1 % per month or part of month will be charged if payment of the purchase price including the premium, tax and any cost is not received within the stipulated period.

3. Title remains with the seller until goods have been paid for in full. The risk is for the buyer from the moment of knock-down.

4. The auctioneer guarantees on behalf of the consignor the genuineness of all items sold, unless otherwise stated.

5. Grading is made to the best of our knowledge based on our long experience but is to be considered as the personal opinion of the cataloguer only. All lots will be sold ?as is?. Difference of grading by grading institutions does not give grounds for the returning lots bought.

6. Justified complaints can only be considered within 8 days from receipt of the goods.

7. Unless otherwise stated the general conditions for purchase at auction sales, as deposited at the Court in Amsterdam under number 388/1989, are in force. Should any legal action arise, the Court of Amsterdam has exclusive jurisdiction for both parties. Only the Dutch text of the conditions of sale has legal force.