Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)

¹ At a com­puls­ory auc­tion, a con­tract of sale is con­cluded when the of­fi­cial auc­tion­eer knocks the ob­ject down to the highest bid­der.

² In the case of a vol­un­tary auc­tion that has been pub­licly an­nounced and is open to all bid­ders, a con­tract of sale is con­cluded when the seller ac­cepts the bid of the highest bid­der.

³ Un­less the seller has ex­pressed some oth­er in­ten­tion, the auc­tion­eer is deemed to have the au­thor­ity to knock the ob­ject down to the highest bid­der.