Auction Procedure
The auctions are public, access is guaranteed, however, domestic authority is exclusively with the Auctioneers who may also decide on the attendance of Bidders at Auctions as the case arises.
The auctions are led by Mr. Hans Peter Plettner - a publicly appointed and sworn-in property auctioneer - assisted by the auctioneers Kai Rocholl and Daniela Tiker.
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As a basic principle, the lots are auctioned in the order they are printed in this catalogue. First of all, the specific property details of each respective item are read out. Only these read out specifications are applied as a property description. The printed minimum bid is called and bidding begins. The auctioneer then announces the bidding increments and invites higher bids. The bid of the highest bidding person is accepted.
The contract comes bindingly into effect in accordance with § 156 BGB (German Civil Code) upon notarisation.
The highest bidder is requested to provide identification after acceptance. If the bidder represents a third party or a company, it is compulsory to verify this by means of a respective certificate of authority (and certificate of registration where applicable). If a certificate of authority cannot be provided, the bidding party who raised his or her hand as the highest bidder (buyer) will be accepted into the contract. Witnessed by the present notary, the auctioneer signs the auction record while still in the auction room. The second part of the record is notarised a little later in the privacy of a separate room. The basis of the acceptances are our General Auction Sale Conditions, also certified under Document Register no. 11/2011/P of Notary Patricia Körner, Rostock. The 
contract sample (PDF 82 kB) and the Sale are printed on the pages 46-50 of the online catalogue and in the PDF catalogue, and they are also stored by the responsible regulating authority.
Purchase prices up to € 2,000,- must be paid in full on the same day. Payment is in cash or by crossed cheque, (must clear within the next working day). For purchase prices over € 20,000-, the buyer must deposit at the auction a security of 10% of the price, minimum deposit € 2,000-. The remainder of the purchase price must be paid within 1 month. Changes require the previous written agreement of the auctioneers.
Highest Bidders without a residence or a business office in Germany are obligated to deposit an additional cost security of ten per cent (10%) of the highest bid, at least, however, € 2,000.00, with the Auction House or an Auctioneer appointed by it provided the Auctioneer does not waive this security or lowers it in the individual case.
The auction house brokerage fee to be paid on all purchases is calculated on the following basis: Hammer prices up to € 9,999 - 17.85%, up to € 29,999 - 11.90%, up to € 59,999 - 9.52% and € 60,000 upwards - 7.14%, value added tax included. The brokerage fee is to be paid with the due purchase tax on the auction day.
If you decide to bid on a lot in this way, it is advisable to fill out and send a copy of the following letter (lowest bid), which includes a release from offering security and an extension of the purchase price allocation period. This can be returned to the auction house by fax at short notice.
You can download the letter (lowest bid) (PDF 82 kB) as a .pdf document.
There exists the possibility to participate in the auction by telephone. Up to 8, voice grade channels are available. An appropriate agreement can be signed up to 2 days before the auction.
Rostock, January 2012
