(1) If the movable thing owed is not suitable for deposit, then 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 governed by section 372 sentence 2 if there is the concern that the thing will spoil or if safekeeping would entail disproportionate costs.
(2) If reasonable success is not to be expected from an auction at the place of performance, the thing is to be auctioned at another suitable place.
(3) The auction is to be performed publicly by a court bailiff appointed for the place of auction or by some other official authorised to conduct auctions or by a publicly employed auctioneer (public auction). Notice of the time and place of the auction, with a general description of the thing, is to be given by publication.
(4) The provisions of subsections (1) to (3) do not apply to registered ships and ships under construction.