GUIDELINES & CONTACT

We offer consignors the option to receive up to 50% of the Net Auction Proceeds. In cooperation with The American Patrons of the Pinakothek Trust, that enjoys full taxexempt status under IRS section 501(c)(3), we are able to offer US based consignors a fully tax-deductible donation receipt for the donated amount. 

The following process ensures that the donated amount is fully tax deductible under IRS section 501(c)(3):

1. Auction

The auction house Ketterer has generously agreed to conduct the PIN. auction pro bono without any fees for the consignor or the buyer. Consigned artworks will be sold under the consigning party's name and account. Transport costs will be covered by PIN.

2. Hammer price and Net Auction Proceeds

The Hammer price includes import taxes and custom handling fees to ensure no additional cost for the buyer after the auction. Net Auction Proceeds are defined as the Hammer price without import taxes and custom handling fees.

3. Import:

For non-European artworks, temporary importation to Germany will be arranged. After the auction, any necessary permanent import procedures and associated fees will be managed by the responsible customs agency on the buyer's behalf.

4. Fiduciary Processing:

The escrow agent of the American Patrons of the Pinakothek Trust, Max Riederer von Paar, will manage pro bono the invoicing and collection process of the net auction proceeds representing the consignor. The necessary invoicing data must be provided beforehand by the consignor. 

Mr. Riederer von Paar will divide the net proceeds after receiving them in the escrow account between the consignor and the American Patrons of the Pinakothek Trust as agreed with the consignor. Subsequently the American Patrons of Pinakothek der Moderne Trust will issue the donation receipts and transfer the donated amount to PIN.

We offer consignors the option to receive up to 50% of the Net Auction Proceeds and a donation receipt for the donated amount. 

We propose the following procedure:

1. Auction
The auction house Ketterer has generously agreed to conduct the PIN. auction pro bono without any fees for the consignor or the buyer. Consigned artworks will be sold under the consigning party's name and account. Transport costs will be covered by PIN.
 
2. Hammer price and Net Auction Proceeds
The Hammer price includes import taxes and custom handling fees or if applicable Value Added Tax (VAT) to ensure no additional cost for the buyer after the auction. Net Auction Proceeds are therefore defined as the Hammer price without import taxes and custom handling fees or if applicable VAT.
 

3. Import:
For non-European artworks, temporary importation to Germany will be arranged. After the auction, any necessary permanent import procedures and associated fees will be managed by the responsible customs agency on the buyer's behalf.

4. Fiduciary Handling
Our escrow agent will manage pro bono the invoicing and collection process of the Net Auction Proceeds representing the consignor. The necessary invoicing data must be provided beforehand by the consignor.

Our escrow agent will distribute the Net Auction Proceeds after receiving them in the escrow account between the consignor and PIN. as agreed beforehand by the consignor and PIN.

If the sale is subject to VAT, our escrow agent will transfer separately the declared and collected VAT amount as specified by the consignor to the consignor‘s account for transfer to fiscal authorities. Sales from personal assets, small business owners, and certain international transactions are typically not subject to sales tax.