§ 1) The auction shall be conducted according to these Rules of Auction by CLASSIC CAR AUCTIONS, a subsidiary of Julius Hügler Gold- und Silberschmiede GmbH, Habsburgergasse 9, 1010 Vienna, (hereinafter referred to as CCA), as well as in adherence with Sections 244-246 of the 1994 Commercial Code. The auction will take place on commission. The auctioneer has the right, in exceptional cases, to withdraw lots, conduct the auction in an order other than by lot numbers, or to offer combined lots. In the case of disagreement concerning simultaneous bids, or if the auctioneer has overlooked a bid, he has the right to withdraw the preliminary acceptance of a bid to and re-auction the vehicle. As a rule, the bid will be increased by 10% over the previous bid. Please find the exact bid increments at www.classiccarauctions.at.

§ 2) The purchaser shall be the highest bidder, unless a price limit (seller’s reserve) was agreed upon with the consignor. Such a limit represents a lower price limit under which certain lots are not to be sold during the auction. If it is not reached, the bid of the highest bidder is accepted under reserve. In this case, the highest bidder is bound by his maximum bid for 8 (working) days. Should he not receive the final acceptance of his highest bid during this period of time, he is no longer obligatorily bound by this bid. A written notification to the address provided by the highest bidder within 8 working days is sufficient for the final acceptance to become effective.

§ 3) All vehicles are subject to differential taxation according to Section 24(7) of the 1994 Value-Added Tax Act (UStG). A uniform premium of 10.00% plus the corresponding legal value added tax of 20% are added to the achieved highest bid (hammer price). The premium thus amounts to a total of 12.00% of the hammer price.

§ 4) The purchaser shall pay the purchase price immediately after the bid has been accepted (hammer price plus 12% premium plus the corresponding statutory value added tax of 20%). CCA, however, can give the purchaser time to pay the purchase price in whole or in part. If the given time to pay is declined, acceptance of the bid can be withdrawn and the vehicle re-auctioned. In the case of the withdrawal of acceptance, CCA also has the right to accept the last bid of the highest underbidder. In the event of granting time to pay in whole or in part, CCA has the right to charge default interest (12% p.a.) after expiry of 14 days following the acceptance. Should a purchase price with time granted to pay not be paid within the period stipulated, CCA has the right to re-auction the vehicle to recover outstanding accounts from the defaulting purchaser. In this case, the defaulting purchaser shall be held liable for CCA’s entire loss of profit resulting from the re-auctioning as well as for default interest and storage fees. The handing over of the vehicle acquired by auction shall only take place following the full payment of the purchase price including all costs and fees incurred since acceptance of the bid.

§ 5) The vehicles for auction are exhibited for inspection prior to the auctions. CCA will not accept any liability, responsibility or warranty for the technical condition, possible other defects or roadworthiness of the auctioned vehicles. All vehicles are second-hand and have possibly been repaired or restored, and are exclusively put up for auction in the condition they are in at the moment of auctioning. It is the responsibility of the purchaser to form their own opinion on the condition of the vehicle or, if necessary, to consult with an independent expert. Any complaint after the acceptance of a bid shall be rejected. By the submission of a bid, the bidder confirms that he has inspected the vehicle prior to the auction and made sure of its conformity with the description. CCA reserves the right to adjust catalogue details prior to the auction and disclaims any responsibility for typographical errors.

§ 6) If a customer is unable to personally attend the auction, CCA will gladly take on absentee bids. These can be made in writing, via email or by post. In the case of absentee bids given orally or by telephone, CCA reserves the right to make their execution dependent upon a confirmation issued by the respective customer in writing, via email or by post. CCA shall also not assume any liability for the execution of absentee bids. Absentee bids with equal limits will be processed in the order received. Bids are utilized as far as is necessary to outbid the starting price by only one increment. Bids not corresponding to the increment schedule stipulated by CCA are rounded up to the next highest increment. When vehicles are put up for auction without a limit, bids below the estimated price are utilized in their entirety. An application for telephone bidding on one or more items automatically represents a bid on the starting price of these vehicles. Should CCA be unable to reach the bidder by telephone, on behalf of the telephone bidder CCA will bid up to the starting price of the respective lot. The written absentee bid must include the lot number of the vehicle and the top bid limit, i.e. the actual amount at acceptance of the bid excluding the purchaser’s commission and VAT. Uncertainties shall be on the bidder’s account. An already issued absentee bids can only be cancelled if the withdrawal is submitted to CCA in writing and at least 72 hours prior to the start of the auction. The execution of absentee bids is free of charge.

§ 7) Paid vehicles must be picked up within 5 working days after the payment was issued. Vehicles that are not paid for and picked up within a period of 5 working days after the auction will be stored at the owner’s risk. A storage fee of 50 euros will be charged per day. CCA also has the right to store vehicles that have been auctioned and paid for but not picked up at the purchaser’s risk and expense, including insurance costs, with a forwarding company. The transfer of ownership to the purchaser shall take place at the moment of issuance of the handover slip.

§ 8) The place of performance of the contract concluded between CCA and the seller as well as the purchaser shall be the location of the registered office of the company. The existing legal relations and contracts between CCA, sellers and purchasers shall be subject to Austrian law. CCA, sellers and purchasers agree to settle any disputes arising from, relating to or in connection with this contract before the competent local court of the first district of Vienna.