Money Laundering Act

With the entry into force of the changed Money Laundering Act of the European Union also auction houses are obliged to verify the identity of their customers in every transaction from 10,000.00 € on. This examination applies to bidders and consigners of our auctions as well. As we cannot foresee the amounts of the invoices, we have to verify the identity of all customers in advance.

We need a fotocopy  of the personal ID (front and back) or passport including proof of the home address of private persons. Companies have to hand out an excerpt from the commercial register and the name of the person entrusted. If you are active for a third we also need a proof of the third’s identity.

The disclosure of these data is legally compelling. We will treat these data with the necessary discretion and diligence.