Note on the Money Laundering Act (GwG)
With the Money Laundering Act (GwG), auction houses are also obliged to verify the identity of their customers for every transaction of 10,000 euros or more. Since the final invoice amount is not known in advance of an auction, the identity of all customers must be established in advance.
From private individuals, either a double-sided copy of the identity card or a copy of the passport including proof of address is required. For companies, we require a copy of the extract from the commercial register as well as the name(s) of the authorised person(s). If bidding or consigning on behalf of a third party, proof of identity is also required. If you are bidding on behalf of a legal entity, the beneficial owner(s) must also be disclosed. In addition, we request that you state whether the bidder or the beneficial owner of a legal entity is a politically exposed person (PEP) pursuant to Section 1 (12) GwG.
The disclosure of the identity is mandatory by law. Our company will handle this information with due care and, of course, in accordance with the applicable data protection regulations.
If you do not provide us with the above information, we are prohibited from doing business with you.
Feel free to use our registration form to submit the information.
Thank you for your understanding.