We auction goods as commission agent in our own name and for account of not named consignors. Participation in the auction shall be deemed express acknowledgement of these Terms and Conditions of Auction.
The hammer price is the basis for the calculation of the buyer's surcharge. For buyers from EEC countries the following applies: for consumers there is a standard surcharge of 23 % (relevant VAT already included). For traders according to the Value Added Tax Act the surcharge is 23% (relevant VAT already included) for goods delivered by difference taxation, for goods delivered by standard taxation as well as for tax free items the surcharge is 20% (plus the relevant VAT on the entire amount of hammer price and surcharge for items in standard taxation). Export deliveries to EEC countries shall be free of VAT on existence of the respective legal requirements.
For buyers from abroad (no EEC country) the following applies: there is a standard surcharge of 20 %. As far those buyers export the good in person or by third persons, the relevant VAT will be charged but refunded by presentation of the legal export certificate. In case we export these goods the relevant VAT will not be charged.
Foreign taxes and custom duties shall be carried by buyer as well as shipping expenses charged according to effort.
The hammer shall fall after the highest bid has been called out three times. The knockdown shall oblige to take immediately delivery of the goods. Upon good cause shown we can refuse or reserve the knock down. In the event of several equal bids we have the right to knock down at our own discretion, to decide by drawing lots or re-open the bidding. The auctioneer reserves the right to combine or to separate lots for good cause. In case of a reserved knock down the bid expires 4 weeks after the knock down unless we informed the bidder within this period of the unreserved acceptance.
Ownership of the goods shall not pass until full payment. Unless mutually agreed otherwise, payment of the auction bill from buyers present at the auction is due immediately, for other buyers within 20 days after receipt of the bill. Defaulted payments shall bear an interest charge of 1 % per month in the amount in default.
In case buyer is in default with the obligation and does not take over the goods in spite of a written deadline, or refuses to take over, we can withdraw from contract and claim damage provided that the item may be put again to auction at this buyer’s cost. In this event the buyer shall be liable for any shortfall, while he shall have no right or claim towards any excess proceeds. The shipment (by mail or otherwise) of the goods shall be for sole cost and risk of the purchaser or recipient, respectively.
The minimum rates of increase for the bidding procedure are:
from € 100,--
€ 50.000,-- € 5,--
€ 5.000,-- (etc. 10%)
We carry out best possible written or orders via telephone or internet and treat them equal to orders to present bidders. Orders from collectors unknown to the auctioneer can only be accepted and carried out if a deposit or references to the satisfaction on the auctioneer are given. To be bindingly accepted, written bids need to be received at least 24 hours before auction, bidders via telephone need to be registered at the latest two work days before auction.
If necessary, we are allowed to increase the bids by 3-5%. Bids amounting to less than 80% of the estimate shall not be executed.
Unlimited bids shall not oblige us to consider, accept or carry out such order. Written orders or those via telephone or Internet will be carried out without charge of an extra commission; they shall name the item with catalog number and the bid price and are binding. Ambiguities shall be carried by the bidder. We do not assume any liability for such bids, especially not for connecting and keeping up telephone lines and/or transmission errors, as well as not for off times and lag times, caused by attendance and restore of the server, by errors and problems of the Internet, by force majeure or reason outside of our responsibility. This does not apply in case we are acting in intentional or grossly negligence.
The descriptions of the goods in the catalogue do not constitute any warranty or liability in the meaning of § 434 BGB but are provided as mere information. The state of preservation of items is strictly assessed in accordance with the grades accepted by the German coin trade and only represents an individual and personal assessment. The authenticity of the coins is warranted (up to the total purchase price) unless anything to the contrary is noted in the catalog or the auction. In other respects, any and all warranty claims based on material defects of quality and defects of title are excluded.
In view of the opportunity of prior inspection to ascertain the state and condition of the auction lots, complaints of errors resulting of the images are excluded. Buyers present at the auction acquire items strictly on the basis of “as is where is” and “as inspected”. If and when auctioned in lots, the quantities of individual pieces given, only represent an approximate figure. Any and all warranty claims based on material defects of quality and defects of title or on an error in the allocation of individual pieces to a certain lot are excluded. We forward quality complaints to the deliverer claimed within the legal period of warranty. To our own choice we assign possible claims resulting out of the commission contract to buyer or compensate buyer by unwinding of contract, at which a claim of buyer exceeding the purchase price is excluded.
In case buyer intends to deliver goods to a Grading Service, we do not guarantee the respective acceptance or the classifying according to our valuation.
All personal data will be kept strictly confidential and will not be made available to third parties.
Damage claims of buyer - irrespective of legal basis - are excluded. This shall not apply for damages resulting out of our intentional or grossly negligent conduct of our legal representatives respectively are caused in the breach of contractual cardinal obligations; to this degree, liability is limited to damages that are foreseeable and typical for this type of contract. This shall not effect our liability for damages to life, limb, or health.
Offsetting counterclaims of buyer are excluded, unless the claim is uncontested or has been declared legally valid by court. Retentions rights of buyer are excluded unless he is not a trader (§ 14 BGB) and his counterclaim results from the same contractual relationship.
This Agreement shall be governed by and construed in accordance with the laws of Germany. The UN Convention (CISG) on the International Sale of Goods shall not apply. Against traders (§ 14 BGB) and purchasers from abroad the exclusive jurisdiction shall be the Court of Osnabrück in relation to any dispute or claim arising out of or in connection with the purchase. The German version of these conditions shall be the legally binding. The invalidity or inefficiency of any provision shall not effect the validity of all other provisions. In lieu of the invalid or inefficient provision or for the purpose of closing the gap, s reasonable provision shall apply.