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BGB 237 A movable thing may be provided as security only up to the amount of two thirds of its estimated value . Things may be rejected as security if their spoilage is to be feared or if their safekeeping involves special difficulties .
BGB 383. 1 If the movable thing owed is not suitable for deposit , the obligor may in case of default by the obligee have it auctioned at the place of performance and deposit the proceeds . The same applies in the cases set out in section 372 sentence 2 , if spoilage of the thing is to be feared or safekeeping is associated with disproportionate costs .
BGB 384. 1 The auction is permitted only after the obligee has been warned about it ; the warning may be omitted if the thing is vulnerable to spoilage and postponement of the auction entails danger .
BGB 966. 2 If spoilage of the thing is to be feared , or if safekeeping is associated with disproportionately great costs , the finder must have the thing publicly auctioned . Before the auction , the competent authority must be notified . The proceeds of sale take the place of the thing .