The following conditions of auction, which are deemed to be accepted
in full upon submission of a written, electronic, verbal or
telephone bid, apply to SINCONA auction 22:
1. The auction is carried out voluntarily and publicly in the
name of SINCONA AG for the account of the consignor(s),
who remain(s) anonymous.
2. Bidders who are unknown to SINCONA AG (hereinafter referred
to as "Auctioneer") are asked to prove their identity
prior to the auction. In addition, the Auctioneer reserves the
right to deny individuals access to the auction premises, at
its own discretion and without stating a reason.
The Auctioneer is entitled, with the approval of the auction
monitor, to deviate from the designated order in the catalog
and to combine lot numbers. Lots may not be divided up. In
case of disagreement, the Auctioneer may re-offer a lot. The
auction is conducted in German and partly in English.
3. The Auctioneer executes written orders and telephone orders
diligently and in the interests of the consignor, however
without liability. Written bids (and bids submitted electronically)
can only be considered if they are received no later
than 24 hours prior to the auction (or 12 hours for bids submitted
via an Internet platform). Telephone bidding is only
possible in exceptional cases and for items with an estimated
value of over CHF 3,000, and bids must be placed at least
48 hours before the auction begins.
4. Only the descriptions of each respective lot number in the
printed catalogue, and not the illustrations, are binding for
the auction. The auction catalogue published on the internet
is for information purposes only.
5. The award takes place following a call for the highest bid,
which commits the highest bidder to purchase the lot. If
equally high written bids are received, the first received bid
has priority. Bids that are lower than the estimate can not be
taken into account. "Either / or" orders and order limits can
only be executed or considered conditionally. The Auctioneer
may reject a bid, without stating a reason and without
liability. The risk passes to the buyer with the fall of the
hammer. Each successful bidder is personally liable for his
purchases and can not claim to have bought for the account
of third parties.
6. If the highest bidder is present in person, a premium of 15%
is payable on the hammer price. For written, electronic and
telephone bids, the amount of the premium is 18% of the
hammer price. After the knockdown has taken place, the
auction invoice is due for immediate payment in the Swiss
currency.
7. For platinum, silver and copper coins and all medals, banknotes,
decorations, antiques etc., statutory value added tax at
the rate of 8% is charged on the total of the auction invoice
(i.e. hammer price plus buyer's premium and any shipping
costs and insurance premiums).
Value added tax is not charged for state-embossed gold
coins and the associated premiums.
Value added tax is not payable if the Auctioneer ships the
auction lots abroad. Value added tax is initially charged to
buyers residing outside of Switzerland to whom the auctioned
lots are handed over in Zurich; however this is refunded
in full by the Auctioneer once the definitive tax assessment
decision of the Swiss Customs is to hand.
8. The auction invoice is due for payment immediately upon
receipt, however by no later than 10 days after the end of the
auction. After expiry of the payment period, the buyer automatically
falls into arrears and the Auctioneer is entitled to
demand interest at the rate of 10% p.a. If the buyer is in default
of payment or refuses to accept the auctioned lot, the
Auctioneer reserves the right to sue the buyer for either fulfillment
of the contract or for compensation for losses resulting
from non-fulfillment, or to withdraw from the contract.
9. In principle, the auction lots are only handed over or shipped
after full payment of the auction invoice. It is at the sole discretion
of the Auctioneer to hand over lots on account. Costs
incurred abroad, such as customs duties and taxes, as well as
the associated shipping costs and insurance charges, are
borne solely by the buyer.
Due to current foreign legislation, shipment of the following
items to the following countries is not possible at present:
- Russia: All numismatic items
Shipping to the Czech Republic is expressly made subject to
the recipient's own risk.
10. The auction item remains the property of the consignor until
the auction invoice has been paid in full.
11. Compliance with foreign customs and exchange regulations
etc. is the responsibility of the buyer. The Auctioneer expressly
disclaims responsibility for any consequences that
may arise from contravention of such regulations.
12. The lots to be auctioned are described to the best of our
knowledge and belief and with great care. Bidders have the
opportunity to inform themselves about the condition of the
lots, in person or through a representative, during the viewing
days listed in the catalog.
Justified complaints regarding the condition of the auctioned
item must be received by SINCONA AG by registered letter.
Claims due to disagreement about the level of conservation
piece are excluded from claims of any kind.
13. The authenticity of the auction items is guaranteed. The
right to claim warranty is granted to the buyer only and can
not be assigned to third parties. The assertion of the warranty
claim requires the buyer to give notice of defect to
SINCONA AG by registered letter immediately after discovery
of the defect and the forged auction item must be returned
to SINCONA AG in the same condition as it was
handed over to the buyer, unencumbered by third party
claims. The buyer must, at his own expense, provide proof
that the auction item is a forgery. SINCONA AG may require
the buyer to seek the opinion of two independent experts
recognized in the field, at the buyer's own expense;
however, SINCONA AG is not bound by such opinion and
reserves the right to seek additional expert advice at its own
expense.
14. For coins in so-called "slabs", any warranty is void as soon
as these are opened.
15. Justified claims of the buyer against SINCONA AG concerning
the condition or falsity of the auction item are limited
to the refund of the purchase price and the premium paid
by the buyer (including any VAT). Further or other claims
of the buyer against SINCONA AG or its employees are excluded
under any legal title whatsoever.
16. The names of the consignor and the buyer are not normally
disclosed. The Auctioneer is entitled to exercise all rights of
the consignor against the buyer arising from the contractual
relationship in its own name.
17. The place of fulfillment and the exclusive place of jurisdiction
is Zurich 8001, Switzerland. In addition, Swiss cantonal
and federal laws apply. The auction and all related legal
transactions are subject exclusively to Swiss law.
18. The original German text is authoritative for the interpretation
of the present conditions of auction in the German,
French and English languages.