Glossary

From A to Z: a brief explanation of the key terms relating to our auctions.

Art Historians
All works of art are examined and catalogued by trained art historians.

 

Art Loss Register
Grisebach is a partner of the Art Loss Register. All works reproduced in our catalogue are individually checked by the Register, provided they are clearly identifiable and have an appraised value of at least 1,000 Euro.

 

Artist's Resale Right (Droit de Suite)
Pursuant to Section 26 of the Urheberrechtsgesetz (UrhG, German Copyright Act), any seller selling original works of art or photographs at auction prior to seventy (70) years having lapsed since the death of their creator (Section 64 of the German Copyright Act) is under obligation to pay resale royalties, the amount of which is defined in Section 26 paragraph 2 of the German Copyright Act and is capped at EUR 12,500.00. Grisebach releases the Consignor from this obligation; in turn, the Consignor shall pay to Grisebach pro-rated resale royalties of 1.5% of the hammer price, such fee being capped at EUR 12,500.00, where applicable plus statutory turnover tax.

 

Auction
Our auction is a public sale of all art works listed in our catalogue (except withdrawn lots). Pricing is determined by bid until the lot is knocked down to the highest bidder.

 

Auction Contract
Grisebach and the client enter into contract after delivery of an art work for auction. The conditions of delivery are regulated in this document. The General Terms and Conditions of Auction are essentially a part of this contract.

 

Auction Results
The results of our auctions are published on our internet homepage after each respective auction.  We will send our clients a printed result list upon request following the post auction sale.

 

Auctioneer
The auctioneer conducts the auction and is responsible for all aspects of the procedure.

Bank Reference
All customers wishing to participate in our auctions for the first time must provide a recent bank reference confirming their financial standing.

 

Bid below the Reserve
If a bidder submits a bid below the reserve and no other bids are made, the auctioneer may knock down the work provisionally. Grisebach will contact the consignor immediately.

 

Bidder Number
All bidders receive a bidder number for the current auction – irrespective of the chosen method of bidding.  This number is for internal identification purposes.

 

Bidder Registration
All bidders who would like to participate in an auction personally should obtain a bidder number in advance. New bidders must provide Grisebach with a recent bank reference.

 

Bids
There are several different ways to bid upon works to be auctioned:
You may bid
a)    in person
b)    through an authorized representative appointed by you
c)    by submitting a written bid (also online within 24 hours prior to auction) or
d)    by telephone or
e)    online live via internet.

 

Buyer's Premium

A buyer´s premium is added on the hammer price.

– For lots without additional letter markings in the catalogues, a premium of 30% of the hammer price applies. On that part of the hammer price over 500,000 EUR, this is 25%; on that part over 1,000,000 EUR, 20%). This premium includes all lump sum fees as well as the statutory turnover tax (differential taxation pursuant to § 25a of the Umsatzsteuergesetz (UstG, German Turnover Tax Act). These will not be itemised separately in the invoice.

– Lots marked with an “N“ in the catalogues are those which have been imported from outside the EU for sale. For these lots, in addition to the above-described premium, import turnover tax is payable at the current rate of 7% of the hammer price.

– For lots marked with an “R“ in the catalogues a premium of 25% of the hammer price applies. On that part of the hammer price over 500,000 EUR, this is 20%, on that part over 1,000,000 EUR, 15%. Statutory turnover tax at the rate of 19% will then be applied to the sum of the hammer price and this premium (see also section 4 of our Conditions of Sale).

Call
Each lot for auction is called either below or at the reserve by the auctioneer. Bids are subsequently accepted until the lot is knocked down to the highest bid.

 

Catalogues
All works delivered for auction are examined and catalogued by our art historians. Works are divided into several catalogues, in addition to the special catalogues devoted to photography and Orangerie:

 1)    Selected Works
 2)    Art of the 19th, 20th and 21st centuries and
 3)    Third Floor – Estimates of up to 3,000 Euro
In addition, there are special catalogues which are devoted to one artist or thematic focus (for example Contemporary Art, Max Beckmann, The Rohde-Hinze Collection).

 

Client List
All clients included on our list may profit from Grisebach’s extensive offering of services. They are regularly informed about upcoming auctions and exhibitions.

 

Commission
Grisebach retains a commission deducted from the hammer price. This commission is oriented on the sum of the price and is regulated in the contract’s Conditions of Sale.

 

Condition Report
The condition report is written by our art historians and contains a detailed description of the work’s condition. Interested parties may request a condition report for any work of art. The report can also be compiled in English upon request.
Although we obtain the expertise of restorers in cases of doubt, we would like to point out that the appraisal is carried out only within the limitation of liability found in our Conditions of Sale (§ 9). All objects up for bid may be viewed prior to auction and are used. Interested parties may inspect the objects during our previews in order to obtain an impression of a work’s condition.

 

Conditions of Sale
All parties, whether commissioning a work for sale or submitting a bid, agree to the General Terms and Conditions of Auction. They may be found on the internet, in all of our catalogues, and at Grisebach (see our Conditions of Sale).

 

Consignment
Those clients wishing to offer an art work for auction must consign the item by a pre-determined deadline in order to ensure cataloguing in a timely and responsible manner.

 

Consolidated Transport
Cost-effective, consolidated transport of art works to Berlin can be arranged by our representatives. The consignor bears the transport and insurance expenses, Grisebach undertakes the logistics.

 

Customs
All art works to be exported from or imported to the European Union (EU) must be cleared through customs. Villa Grisebach will take care of all logistical customs paperwork for delivery or shipment of works unless otherwise agreed upon.

Differential Taxation

For works of art that have not been specially marked in the catalogue, the purchase price will be calculated as follows:

For buyers having their residence in the EU, Grisebach will add a buyer's premium of 30% to the hammer price. A buyer's premium of 25% will be added to that part of the hammer price that is in excess of EUR 500.000. A Buyer's premium of 20% will be added to that part of the hammer price that is in excess of EU 1.000.000. This buyer's preium will include all lump sum fees as well as the statutory turnover tax (margin scheme puruant to Section 25a of the German Turnover Tax Act). These taxes and fees will not be itemized separately in the invoice (please see Section 4 of our conditions of sale for further details.

 

Droit de Suite (Artist's Resale Right)
Pursuant to Section 26 of the Urheberrechtsgesetz (UrhG, German Copyright Act), any seller selling original works of art or photographs at auction prior to seventy (70) years having lapsed since the death of their creator (Section 64 of the German Copyright Act) is under obligation to pay resale royalties, the amount of which is defined in Section 26 paragraph 2 of the German Copyright Act and is capped at EUR 12,500.00. Grisebach releases the Consignor from this obligation; in turn, the Consignor shall pay to Grisebach pro-rated resale royalties of 1.5 % of the hammer price, such fee being capped at EUR 12,500.00, where applicable plus statutory turnover tax.

Estimate

All works of art are appraised according to the customary market price before finalization of a contract. The price margin Grisebach quotes in its catalogues as estimate represents the market’s dynamic. The sales price is ensured by the reserve set jointly by both parties.

 

Exhibitions
Grisebach presents rotating exhibitions between previews.

 

Expertise
Grisebach will obtain the expertise of a recognized specialist in the case that the authenticity of an art work is unclear. The consignor will bear the expertise costs upon consultation with Grisebach, including any necessary transport expenses.

 

Export
The statutory value-added tax is not applicable to art works purchased by buyers with residency outside the European Union (EU) if these works are to be delivered to countries outside the EU. Grisebach or the forwarding agent will settle all custom regulations. Expenses are to be borne by the buyer (for further information cf. Conditions of Sale § 4).

Frames
All works denoted in the catalogue as “framed” are auctioned with the frame. Lent frames are labeled as such. Liability will not be assumed for damaged frames.

Hammer Price
The work of art is  knocked down to the winning bidder if, following three calls for a higher bid, no such bid is submitted.The Knock down is also called hammer price.

Import Turnover Tax
Works of art marked by the letter "N" (for Import) are works of art that have been imported from outside the EU for sale. In such event, the import turnover tax advanced, in the amount of currently 7% on the hammer price, will be charged in addition to the buyers's premium.

 

Insurance
All works are insured by Grisebach door-to-door for a flat rate charge (all further details are regulated in the contract’s Conditions of Delivery).

 

Internet
You may find information on Grisebach and all aspects of its auctions on our homepage. Catalogues are placed online approximately four weeks prior to auction. You may also order a newsletter to keep personally informed of all current events and deadlines. Special online services are available to holders of the Grisebach Card.

Knock-Down
The hammer price is valid when no higher bid is offered after a bid has been called three times. The Auctioneer is not allowed to knock down a work below the reserve agreed upon with the Consignor, respectively may only knock down a work provisionally in exceptional cases (cf. also § 3.4 Conditions of Sale).

Newsletter
Grisebach will send an online newsletter providing information on current events to registered users. Those interested can register online for this service.

Online Live Bidding
In some auctions you can participate via online live bidding. For that please register at our partner website www.lot-tissimo.com.

 

Original
Grisebach auctions only original works of art. 

 

Ownership
The Consignor assures that it is the owner of the work of art so consigned, respectively that it has been authorized by the owner of the work of art to dispose over it. The consignor furthermore assures that the work of art is not subject to any rights of third parties.

Partners
Grisebach was founded in 1986 as a limited liability company. Partners are Bernd Schultz (since 1986), Wilfried Utermann (since 1986), Micaela Kapitzky (since 2000), Florian Illies (since 2011) and Dr. Markus Krause (since 2011).

 

Passed Lots
An art work that could not be sold during the auction is passed. Such works may normally be purchased during the post auction sale for the reserve price plus premium.

 

Payment
Payment is to be made in Euro to Grisebach. If payment is made in a foreign currency, any exchange loss shall be borne by the buyer.

 

Photography
The photography auctions take place bi-annually. The photography department publishes a separate catalogue for these auctions.

 

Pick Up
All art works purchased at auction may be picked up in person at Grisebach. We advise timely notification of the pickup date, in order to avoid extended waiting periods.

 

Post Auction Sale
Works not sold at auction may be purchased at the reserve price for a period of two months during the post auction sale.

 

Preview
The art works are exhibited at Grisebach one week prior to auction. A selection of works is also shown in various cities (Hamburg, Düsseldorf, Dortmund, Munich and Zürich). The preview dates are available on our homepage. They are also published in the daily papers and clients may also be informed by mail.

 

Provenance
Grisebach is aware of the responsibility of sensitively handling works of art with unexplained ownership due to misappropriation during the Nazi regime, and has lived up to this responsibility since the auction house’s founding in 1986.
Grisebach carefully examines each work delivered for auction to establish provenance, with our specialists supported by a network of international experts.  This pertains especially to works of art whose change of ownership between 1933 and 1945 is difficult to ascertain and which has not been documented. 
Grisebach examines all available and updated sources to establish any proof of theft or misappropriation by the National Socialists. Important sources are
•    the international database ART LOSS REGISTER, with whom Grisebach registers each work intended for auction
•    the database LOST ART of the „Koordinierungsstelle Magdeburg“ (Coordination Center Magdeburg) supported by the federal government and Länder
•    the respective artist catalogue raisonné, as well as the estate inventory of dealers and collectors
•    documentation of previous auctions and exhibitions, as well as current research results.
A work will not be offered for auction if there is the slightest indication of questionable ownership or a history thereof.

 

Provisional Sales
If the auctioneer knocks down a work provisionally, the hammer price lies below the reserve agreed upon. Grisebach will contact the consignor immediately. The bidder is bound to his offer. A knock down with reservations will only be effective if Grisebach confirms the bid in writing within three weeks after the day of the auction by submitting a respective invoice. Should in the meantime a third party bid the limit, the third party will receive the acceptance of such bid.

 

Purchase Price
A work’s purchase price consists of the hammer price plus premium. Statutory value-added tax and charges may be added (see also section 4 of our Conditions of Sale).

Representatives
In order to provide our clients with on-site consultation, we have representatives in several regions (Baden-Wurttemberg, Bavaria, Hesse, North Germany, Rhineland/Ruhr and Westphalia), Switzerland (Zurich), France (Paris), Italy (Rome), and in the USA (New York and Los Angeles). They work closely with our headquarters in Berlin and supervise, as an example, the consolidated transport of art works to Berlin, which is often more cost effective.

 

Reproduction Costs
All works offered for auction are reproduced in our catalogues. Reproduction costs are dependent upon classification according to the catalogues and are regulated in our Conditions of Sale.

 

Reservation of Ownership
The title to a work of art is passed to the buyer only upon payment in full of the invoice amount due.

 

Reserve
The consignor agrees upon a reserve with Grisebach which may not exceed the low estimate quoted in the catalogue. If the reserve is not met, the auctioneer may knock down the work provisionally but only in exceptional cases.

 

Restitution
Grisebach is aware of the responsibility of sensitively handling works of art with unexplained ownership due to misappropriation during the Nazi regime, and has lived up to this responsibility since the auction house’s founding in 1986.
Grisebach carefully examines each work delivered for auction to establish provenance, with our specialists supported by a network of international experts.  This pertains especially to works of art whose change of ownership between 1933 and 1945 is difficult to ascertain and which has not been documented. 
Grisebach examines all available and updated sources to establish any proof of theft or misappropriation by the National Socialists. Important sources are
•    the international database ART LOSS REGISTER, with whom Grisebach registers each work intended for auction
•    the database LOST ART of the „Koordinierungsstelle Magdeburg“ (Coordination Center Magdeburg) supported by the federal government and Länder
•    the respective artist catalogue raisonné, as well as the estate inventory of dealers and collectors
•    documentation of previous auctions and exhibitions, as well as current research results.
A work will not be offered for auction if there is the slightest indication of questionable ownership or a history thereof.

 

Restorer
We have permanent contact to independent and notable restorers for the appraisal of all paintings, sculpture and works on paper. An art work will be restored if necessary and only after consultation with the consignor. Expenses are borne by the consignor.

 

Results
The results of our auctions are published on our internet homepage after each respective auction. We will send our clients a printed result list upon request following the post auction sale.

Selected Works
The catalogue “Selected Works” contains art works from the auction which Grisebach has classified as special. They are offered for sale in a separate evening auction.

 

Shipping
Grisebach will organize appropriate transportation for all auctioned works (photographs, graphics and smaller pictures not framed in glass) which are insured for up to 25,000 Euro. A forwarding company will be authorized with the transport of all other works. Packing, shipping and insurance expenses will be borne by the buyer.

 

Standard Taxation
Value-added tax will be noted separately if the purchase price is subject to standard taxation (marked with the letter R in the catalogue). This is necessary if the consignor wants to claim this tax or if delivery is to a non-EU country.

 

Storage - Consigned Works of Art
Grisebach will store the work of art from the date of delivery to the date of auction at their cost. A flat rate will be agreed upon for insurance during this period. This is regulated in the contract’s Conditions of Delivery.

 

Storage - Sold Works of Art
Grisebach will store and insure the acquired work of art at no cost for a period of one month following the auction. Thereafter, Grisebach has the right to charge the account of the buyer for this service (cf. § 6 Conditions of Sale).

Telephone Bidding
In certain auctions, it is possible to place bids by telephone. Please use this bidding form. Complete the form with the lot number of the work in question and your telephone number, and return it to us either by fax (+49(0)30.882 41 45) or by email (gebot(at)grisebach.com).

Grisebach will then call the client during the auction, a few lot numbers before the work in question. When the desired lot comes to auction, we will submit bids according to the client’s instructions. A telephone connection cannot be guaranteed. Telephone bidding is not possible for the "Third Floor" auction. To place bids for this auction remotely, please use a written bid or the online live bidding service.

 

Terms of Agreement
Our General Terms of Agreement are published in the auction catalogues, on our internet website and in the auction hall. By issuing a contract to sell or a bid, the client recognizes and accepts these conditions of sale.

 

Third Floor
The catalogue "Third Floor" contains art works with an appraised value of up to 3,000 Euro. These works may only be bid upon in person, through an authorized representative, or by submitting a written bid (also online within 24 hours prior to auction). Telephone bidding is not possible.

 

Transport
Grisebach undertakes transport of an art work to their premises only upon agreement with the consignor. Grisebach also recommends appropriate modes of transportation respectively shipping methods. Our representatives can also arrange a consolidated transport.

Unframe
All works are unframed by our experts for the purpose of cataloguing and compiling condition reports.

Value-Added Tax

The statutory value-added tax on regularly taxed art works, photographs, certain prints and serigraphs and collectibles is currently 19%. This tax is added to the hammer price and the premium for buyers residing within the European Union (EU). The buyer is exempt from this tax if the work is to be exported from the EU (please see also section 4 of our Conditions of Sale).

Withdrawal or Cancellation
Grisebach is entitled to compensation of damages by withdrawal or termination of contract on the part of the consignor. At the same time, Grisebach may withdraw from a contract up until the time of auction when this withdrawal is based on doubt of authorship, signature, technique or ownership (the Consignment Terms in the contract regulate all other issues).

 

Withdrawn
Grisebach reserves the right to withdraw art works up to the time of auction when this is based on doubt of authorship, technique, signature or ownership.

Note This glossary serves for information purposes only and shall not have any legally binding effect.