Experts in numismatics for 70 years
Auction 49: Terms and conditions
Traditional auction on February the 20th and 21st 2017 in Freiburg
Conditions of sale*
*Only the german version of the conditions of sale is legally binding
1. General information
The auction will be held in German language. Auction bidding is conducted in EURO. Unless agreed otherwise, the purchase can only be made against cash payment of the full price to the auctioneer or it’s representatives.
Every new contractually capable prospective customer, interested in participating the auction, is obliged to fill a registration form containing at least the bidders name and address. Additional proof of identification (ID, passport) is required. Bids submitted by unknown bidders can solely be taken into account, if a sufficient deposit has been made in advance or if references are provided, that can be legally verified beforehand. The company and auctioneer shall have absolute discretion to refuse admission to their premises or attendance of any person they find unsuitable, without giving any reason for, or prior notice of their action.
By attending the auction or bidding in oral as well as written form, including online bids, the participant acknowledges his acceptance of these conditions of sale and agrees to be bound by them.
3. Auction sale, estimate price, reserve price, bidding steps, acceptance of bid
The auctioneer starts the auction by calling out the lot and its related item, following the order given in the catalogue. He reserves the right to sell items in a different order to that listed in the catalogue, divide any lot, combine two or more lots or withdraw any lot from the auction without giving a reason. If no higher pre-sale bids exist, the auctioneer continues calling out the reserve price. Usually each lot is reserved at 80% of the estimate printed in the catalogue. The estimate price is no evidence for the item’s true value. Bids below the reserve price are unlikely to be accepted.
All given bids exclude additional charges as well as the buyer’s premium and shall be at least 5% above the previous one, with auctioneer’s discretion. A bidder must submit a bid for an entire lot and each lot constitutes a separate sale. Bids will be repeated three times before the hammer falls to conclude in the contract for the sale. The highest bidder for each lot shall be the buyer. In case of a dispute, the auctioneer shall have absolute discretion to determine the dispute including re-offering the disputed Lot for sale.
The knockdown price, set by the fall of the hammer, serves as base for calculation of the buyer’s premium and additional charges.
The minimum bid scale is:
|up to||50,00 EUR||2,- EUR|
|up to||200,00 EUR||5,- EUR|
|up to||500,00 EUR||10,- EUR|
|up to||1.000,00 EUR||25,- EUR|
|up to||2.000,00 EUR||50,- EUR|
|up to||5.000,00 EUR||100,- EUR|
|up to||10.000,00 EUR||250,- EUR|
|up to||20.000,00 EUR||500,- EUR|
|up to||50.000,00 EUR||1.000,- EUR|
|from||50.000,00 EUR||2.500,- EUR|
4. Additional charges
Additional charges include transportation, packaging, transport insurance, any other additional delivery expenses regarding the export, successful use of fee-based electronic auction platforms, storage cost, bank charges and all cost of the payment transaction.
5. Tax, export and buyer‘s premium
The full price, consisting of the knockdown price, the additional charges and the buyer’s premium, serves as base for tax treatments. For all lots of this auction, margin tax as per §25a UStG applies, without any further notice.
To every company (successful bidder) established in Germany as well as consumers (successful bidders) resident in Germany or any other EU state a buyer’s premium of 23% of the knockdown price will be charged. The sales tax of 19% on the buyer’s premium is already included. Full prices are the results of the hammer price plus 23% buyer’s premium as well as potentially occurring additional costs. Companies (successful bidders) established in an EU state other than Germany can request the exemption from VAT of 19% on the buyer’s premium upon delivery, if a VAT identification number is present as per §27a UStG and any other requirements are fulfilled as per § 4 no. 1b UStG in conjunction with § 6a UStG.
A buyer’s premium of 20 % will be added to the knockdown price and charged to all successful bidders resident in any non-EU states and planning the export out of the EU. If these purchases will be delivered within the EU, the current VAT of 19% on the full price will be due. With submission of a valid export certificate the buyer can receive a full VAT refund from the auctioneer. In cases of export by the auctioneer, no VAT will be calculated.
Foreign nationals shall comply with the duty and exchange regulations of their countries. Taxes and duties that result after the import into a foreign country shall be for the account of the client. Hereby the auctioneer indicates possibly existing reporting requirements towards authorities and is therefore not liable in no event for consequences emerging from any disregard or infringement of current laws and importation requirements by the customer.
6. Purchase procedure, transfer of risk and retention of title
The fall of the hammer is a legally binding contract and with it, the risk of damage/loss to the lot will pass to the buyer. Title in a lot will not pass to the buyer until the purchase price has been paid in full. Any resell of goods is prohibited until their full payment. Unless agreed otherwise, the full purchase price shall be paid directly, or in cases of written bids within 14 days after the receipt of the invoice. Delivery or collection of goods shall only be made against payment in advance. Any further costs of money transfer will be charged as additional costs. In case of delivery all costs and risks shall be on the customer.
In case of a default of payment interest will be charged at 1% per month from the due date of payment to the date that cleared funds are received whether this is before or after any legal judgment. Payment by Paypal or checks will not be accepted. If one accepts a commission from a third party to bid on their behalf, he does so on his own risk and will remain personally liable (jointly with the principle) to the auctioneer for the purchase price in accordance with these conditions.
If one fails to comply with his obligations under these conditions, the lot, in respect of such non-compliance, may at the auctioneer’s discretion be put up for sale at auction or privately and resold. In this case the original buyer will be liable in full and will indemnify the company for all losses, costs and expenses incurred as a result, including the costs of the resale and the amount by which the hammer price obtained on the resale is less than the hammer price obtained on the original sale of the lot to the buyer.
After a period of 4 weeks, the storage of not-collected goods will be charged with a monthly rate of 25 EUR per lot. Storage costs shall be for the account of the customer.
7. Written bids, telephone bids and online bidding
Written bids (letter, e-mail, fax) shall be in EURO and will be executed in the best interest of the client without any further commission. The company will not reveal information about other bidders or bids and their amount. Telephone bids need a written confirmation.The consideration of written and telephone bids which will be submitted within the last 3 days before the auction can not be guaranteed. There is no compensation for the client if written or telephone bids will accidently not be considered in the auction. If necessary, the auctioneer is allowed to raise the limit of given bids by the minimum step of 5% to obtain the lots. Bids lower than 80% of the estimate will not be taken into account.
Life bidding by telephone shall only be made for estimates higher than 500 EURO. This Service will be offered without any additional charges. Telephone bidders need to register at least two days before the auction with a bid not less than the estimate price in the catalogue. Online bidders must obey the regulations given by the individual possibilities as far as this does not withstand the general rules given here. In no case the auctioneer will take over the responsibility for malfunction of telephone and online services or insufficient capacity that might result in a delay of the online connection.
8. Descriptions and illustrations
Even though other offered versions of the catalogue (or its parts) might exist, the printed official catalogue is authoritative. The descriptions have been made to the best of our knowledge and are intended as a guide for interested clients.
If not mentioned otherwise, the lots in the catalogue are illustrated at least once in their original size as an unretouched photograph and are for general identification only. For lots containing several objects the number of pieces is an estimated figure. In individual cases, bundles can contain replicas or undetected imitations and are therefore excluded from return. They will be sold as is, at the moment of knockdown.
All lots by their nature are usually aged and vary in condition. The absence of any description of a defect, damage, modification or restoration in the catalogue does not mean, that there are none. The descriptions and illustrations in the catalogue do not justify any liability of the auctioneer.
9. Viewing, complaints and reclaim
Viewing of the lot may be done by appointment or at the official viewing dates mentioned in the catalogue. The auctioneer will not assume any liability for the descriptions in the catalogue, as well as additional comments in the catalogue or further explanations during the auction. Differing classifications regarding the condition that have been made by a third party (e.g. grading services) after the auction or any case of dissatisfaction regarding the condition are no reason for the return of the goods.
After the fall of the hammer, returns will only be considered with the auctioneer’s consent. Bidders present at the sale buy as is. Mistakenly bought lots can’t be returned.
10. Authenticity and guarantee
The authenticity of all lots is guarantied. In case of returns, the buyer will only be refunded the price paid for the goods in question. There will be no further compensation for any damage.
11. Reservations, validity period of lots and laws on the Protection of Cultural Heritage
If an object can only be sold under reservation, due to confiscation by authorities, or if an export licence will not be granted rightaway, the buyer will stay bound to his bid for a duration of 90 days.
If a lot underlies the protection of cultural heritage as per (Kultugutschutzgesetz KGSG), for the export out of Germany a permission is mandatory. In this case an export can only be made if the customer provides a valid export license. The auctioneer is not obliged to obtain such authorizations and to export the goods. However the auctioneer will try to its best to help with the necessary arangements.
11. US-import regulations
All lots offered in this auction have legally been in Germany before the year 2000, if not stated otherwise in the text. Regarding Bulgaria, it is confirmed that article 2607 of the US-Import Restrictions will not be violated.
To the best of the auctioneer’s knowledge and regarding the current agreements with Greece, Italy and Cyprus, the legal requirements by US-authorities for the import in the USA are fulfilled.
12. Data protection
By agreeing to these conditions, a bidder acknowledges and agrees that the company will use personal information provided for the purpose of the auction, needeed for fullfillment of the bids and concluding bussiness This includes providing buyer’s personal data to any third party, necessary to fullfill the bussiness and enforce the company’s rights under these conditions. At any time the client has the right to correction, blocking and deletion of his data with immediate effect, as long as this does not withstand legal requirements.
13. Severability clause
The sale is conducted under german law, and buyers from other countries will submit to this by placing a bid. In addition to these conditions the regulations of the Versteigererverordnung and the GewO (§34b) will apply in their current form.
*Only the text of the conditions of sale written in German language is legally binding - this translation is only for guidance.
DELIVERYThe purchase can be send registered and insured to sucessfull bidders after receipt of payment in full. The delivery will be at the risk and cost of the buyer. Please contact us for details. Please allow extra time for clearance with custom authorities. For the moment we do not send to Russia, China, Greece, Syria.
TO OUR US-CUSTOMERS:
In accordance with US Customs and Border Protection Regulation (19CFR Part 12), I attest that all ancient Greek coins, from mints that are now within the modern boundaries of Italy, were outside of Italy prior to 19 January 2011. In addition, I also attest that all ancient Greek coins, from mints that are now within the modern boundaries of Greece, were outside of Greece before 17 July 2011. In addition, I also attest that all coins falling under the MOU with Cyprus, were outside of Cyprus prior to 16 July 2007. Regarding restrictions on Bulgarian coins, to the best of my knwledge I attest, that none of the coins offered in this sale violate § 2607 of the US Import restrictions. No coins from Bulgaria were exported out of Bulgaria after the 16. January 2014. All other coins were in posession of the auctioneer or his consignors in Germany prior to these dates. Regarding the German Cultural Property Protection Act, I confirm that, to my best of knowledge, there are no restrictions regarding the legal export of any of the items offered in this sale at this very moment. However please allow extra time for getting items through export procedures. Due to unforeseeable implications (retroactive effects etc.), resulting for example out of possibly unclear or questionable regulations, that might furtheron be altered through future US-Law (for example Senate Bill 3449) or EU-Law, I will not provide compensation for any damage, other than taking back the merchandise in question, and after receipt in good, refund money. Update 14th of dec. 2016: I learned from the latest news, a MOU with Egypt was signed lately. As I could not find any clear information about what the exact restrictions are, I decided to not sell and export to the US any item that was produced pre 1600 AD in the boundaries of modern Egypt. Furthermore I will not send items to Minnesota (“bullion law”), regardless of value or origin.