Extract from Auction Sale Regulations

1. The auction organised by the Barac&Pervan auction house is public. Participation in it is free and voluntary.

2. Barac&Pervan auction house is a mediator between sellers and buyers.

3. Barac&Pervan auction house takes 15% of the achieved price from the seller, and issues the receipt, while the buyer pays 18.75% of the achieved price, tax included.

4. The description of the item has been made with great precision. The photographs are the component parts of the description. In case of any complaint, the textual description has the priority over the photography.

5. The bidding takes place before the auction by Internet bidding and telefax respectively. The biddings are accepted until the very beginning of the auction: in writing by way of letters, and by telephone during the auction, the latter requiring a special understanding with the auction house. During all written bidding, the bidder gives his maximum bid, while the auctioneer bids in his name so that he protects his interest. All interested bidders must apply to the auctioneer before the beginning of the auction by filling in a form with basic data, whereupon they are given the number, which will be used in bidding.

6. The offer given in any form is obligatory for the bidder.

7. The sold item can be taken by the buyer immediately after the auction and payment, or within the following thirty days.

8. Insurance costs, mailing and other possible delivery expenses are born by the buyer. The auctioneer is not responsible for damage or theft of the item bought at the auction after this item has been given to the third person or institution for its delivery to the buyer.

9. Any claim or complaint should be made within eight days from the acquisition of the item, with the exception of the dispute as to the authenticity, which is permanent, i.e. it is always possible to claim that the item is not original. For this purpose, the auction house should agree with the buyer that specialist arbitration is chosen for doing independent research. The decision of the arbitration is final. The arbitration costs are born by the party that has lost in the

arbitration process.
10. Lots (collection items) do not have the guarantee of authenticity and quality, but are sold by the principle "seen-sold", unless the auction house has given a special guarantee for a particular lot.

11. In case that the auction house has received two or more identical offers for the same item, the priority is given to the offer that has arrived first.

12. The auction house guarantees full discretion to the sellers and buyers.

13. The auction house is obliged to pay out the sellers within forty days following the auction, unless a different agreement has been made with the seller.

14. The auction house and the seller of the auction items should make an agreement containing the list of the given auction items, and all relevant data of the seller, containing the bank account number to which the money obtained from the auction will be remitted.

15. The prices of the offered items are given in Euros, and the auction is also conducted in the same currency, while the receipt is issued in Croatian Kunas on the day of the auction according to the middle exchange rate of the Croatian National Bank.

16. The auction house may reject the offered items for the auction without giving any explanations, and may describe, re-classify, or withdraw the accepted items

17. As soon as the auction house accepts auction items, it guarantees for their security, and takes photographs and makes the descriptions of the items for the auction catalogue at the expense of the auction house.

18. Every auction participant receives a free-from-charge catalogue. After an auction, the auction house should at its own expense inform all participants of the results of the whole auction (by internet and, if required by a participant, per post).

19. In case of disagreement, the competent authority is the County Court in Zagreb.