§ 373 HGB Default of accep­tance

(1) If the Buy­er is in default of accep­tance of the goods, the Sel­ler may depo­sit the goods in a public warehouse or other­wi­se in a safe man­ner at the risk and expen­se of the Buy­er.

(2) He is fur­ther aut­ho­ri­zed, after pri­or war­ning, to have the goods sold by public auc­tion; if the goods have a stock exch­an­ge or mar­ket pri­ce, he may, after pri­or war­ning, also effect the sale by pri­va­te trea­ty through a com­mer­cial bro­ker publicly aut­ho­ri­zed to make such sales or through a per­son aut­ho­ri­zed to sell at public auc­tion at the cur­rent pri­ce. ²If the goods are sub­ject to spoi­la­ge and the­re is immi­nent dan­ger, no pri­or war­ning is requi­red; the same appli­es if the war­ning is imprac­ti­ca­ble for other reasons.

(3) The self-help sale is made for the account of the defaul­ting buy­er.

(4) The sel­ler and the buy­er may bid at the public auc­tion.

(5) ¹In the case of a public auc­tion, the sel­ler shall noti­fy the buy­er in advan­ce of the time and place of the auc­tion; in the case of any type of sale, the sel­ler shall noti­fy the buy­er imme­dia­te­ly of the com­ple­ted sale. ²In the event of fail­ure to do so, he shall be lia­ble for dama­ges. ³The noti­fi­ca­ti­ons may be omit­ted if they are unneces­sa­ry (see Marx/Arens Der Auk­tio­na­tor, 2004, p. 274).