The auction is hold on behalf and for the account of the owner of the goods according to Austrian Trade Regulation Acts. Bidding in the auction –
written or oral - constitutes acceptance of the following conditions of the Auction.
Description: The descriptions and the grading of the material represented in the catalogue have been executed with great care. The illustrations are
part of the description and in case of doubt the text is authoritative. The grading of coins is a personal judgement but corresponds to the accepted
grading scale in the European coin business.
Auction procedures: The auction sale is conducted in Euros (€). The most successful bidder has committed himself personally to the purchases
made; he cannot claim to have acted on behalf of a third party. The prices in the catalogue are minimum prices and bids below these prices cannot be
accepted. Written prebids can be sent to us by post, fax, e-mail or by using the facilities of the online catalogue. The bids must be received by us at
least by 7 a.m. MEC on the day of the auction.
Bids received in the last two days before the auction cannot be confirmed in writing. To optimize the chance of winning absentee bidders can give
either/or bids or limit the total bidding sum (exclusive the commission). Bidders are responsible for errors in bidding, therefore please control that your
bids are entered correctly. Pre-bids given by telephone must be confirmed in writing (fax or e-mail) to avoid the mistake.
The bidding increments as a general rule are 5 to 10 %. In case of identical bids, the earliest bid wins. No „buy“or „unlimited“ bids will be accepted.
Bidders who do not have established credit with Auction House H. D. Rauch must furnish satisfactory credit information including two satisfactory
references or pay a deposit of 25 % of the bidding sum or valid credit card information. This deposit will be applied to successful bids the overage
refunded. New clients have to register at least
2 business days before the auction starts to give the auction house a chance to verify the references given.
Telephone bidding: for live telephone bidding during the auction the client has to make preliminary arrangements with the Auction House at least one
business day before the auction starts. The bidder has to give us the lot numbers for which he wants to bid by phone and a valid telephone number.
We take it for granted that the telephone bidder bids at least the starting price on these lots. The telephone bidding is accepted exclusively on lots with
a starting price of more than € 100,--. The Auction house cannot be made responsible for technical problems or misunderstanding.
Floor bidding: Any client needs to take a bidding card or paddle on the floor before going in the auction room. Viewing can be done before and
during the auction without problems. As soon as the client closes his biddings he can ask for the invoice and the coins. The invoice can be paid in
cash (if the sum is more then € 5.000 we have to ask according to the law for a personal document). Bidders, who have the possibilities to inspect the
lots prior to the auction, will not be granted any return privileges, except for reasons of hidden repairs on the coin, mounting or authenticity.
Hammer price: An item will be knocked down after the highest bid has been called out three times. The hammer price will be executed at one bidding
increment over the next highest bid. All auction sales are final. A written bid has priority over an identical floor bid. On the floor a bidder may request
the auctioneer to accept a bid at half of the bidding step (Cut bid); this can be done only once per lot and this bidder has to resign for further bidding
on this lot. The auctioneer reserves the right to combine or to separate lots; to withdraw lots or put up an item for bidding again in case of error or
dispute.
Invoice: The hammer price represents the basis for the buyer’s premium of 18,5 % and VAT (Value Added Tax). A letter in front of the lot number
marks for the purchaser the applicable VAT rate.
B = zero rated coins. Gold coins issued after 1800 and which were or still are legal tender and investment gold coins are exempted from VAT if
granted by the European commission. The customer pays 18,5 % premium plus the postage costs.
D = Auctioneer’s Margin Scheme. 22 % are added on the hammer price. VAT and the buyer’s’ premium are included.
V = for lots signed with V the VAT is 20 %. The customer pays a buyer’s premium 18,5 % + 20% VAT rate
(for Germany 19 %).
Dealers in EEC countries (other than Austria) will receive goods tax free upon presentation of their valid VAT ID number.
Buyers resident outside the EEC pay a buyer’s premium of 18,5 % and no VAT if the goods are delivered by us. Purchasers from abroad will have to
observe all applicable laws and regulations in respect of custom duties and taxation in their country. If the goods are exported by the buyer himself the
valid proof of export certificates must be returned to us within a month after the auction. If the client fails to return the proof export certificates to us
within this period and has not already accounted to us for the VAT, he will be liable to us for the full amount of the VAT and we will be entitled to
invoice him for his sum.
Payment period: Unless mutually agreed otherwise, payment of the auction bill is due immediately if the buyer is present on the floor; this is also
valid for bidders who have acted on behalf of another client. From purchasers who have submitted written bids, bidden by phone or live, payment is
due within 10 days after receipt of the goods. We are entitled to ask payment in advance of all clients. Rauch GmbH reserves the right to resell the
material of an auction for which a bidder has not paid and the bidder is obliged to pay for the reasonable costs of such a sale and also pay any
difference between the resale price and the previously successful bid.
The payment can also be done by credit card (VISA and MASTER) or PayPal if the client adds a surcharge of 4 % to the total sum of the invoice for
the handling. US Dollar cheques drawn to an US bank are accepted, not cheques in Euro unless the clients adds to the sum of the invoice the high
bank costs. Ownership of the lots will not pass until payment of the purchased price is made in full. After the period of 30 days has expired 1 %
interests are charged per month.
Shipment: All shipping charges will be borne by the buyer of the auction goods. Instructions for shipping must be given right after the auction. We
ship the goods according e postal regulations or by special service if wanted by the client or necessary for the insurance. The minimum costs are:
Domestic: € 6,--; Europe: € 10,--; overseas: € 20,--. Any shipment is insured. Insurance regulations require that losses or damage in shipment be
reported immediately and that some evidence (photo, damaged envelops) are sent. If the client does not receive the shipment in time or it is damaged
the buyer has to inform us upon receipt because investigations are only accepted by the post for shipments three months old. The buyer or recipient is
liable for the costs of shipment which are returned by post because of the carelessness of the buyer or recipient.
Complaints and authenticity. First of all please be aware that an auction sale is not an approval sale. All coins in this sale are guaranteed genuine
and as described. There is no limit of time to claim the genuineness of coins sold in our auctions. The authenticity of the coins and medals is
warranted up to the total purchase price. All other claims which are due to an error in description (like plugging of a hole, traces of mounting etc.) must
be made within 20 days after receiving the auction material: If bidders who have to pay in advance fail to settle the sum due within 20 days the time for
claims because of errors in description has run out. Coins and medals graded as fine or less as well as multiple lots are excluded from warranty. Lots
also cannot be claimed. Coins that have been encapsulated (“slabbed”) by a grading company such as NGC or PCGS may not be returned for any
reason, including authenticity, if they have been removed from the slab; also the grading from a third party cannot be claimed by H.D. Rauch GmbH.
Claims are handled on behalf of the owner or seller i.e. the person or company who instructed the auctioneer to offer the material for sale. We reserve
for us the right to ask the buyer to turn directly to the owner with his claim. This will always be the case when the account with the seller has been
settled. Return payments for shipment which got lost will be settled as soon as the postal investigation has confirmed the loss.
Any and all disputes should be subjected to the exclusive jurisdiction of Vienna courts, except for those to recover payment for lots sold hereunder
which may be pursued wherever the buyers may be found.
Only the German text has legal force.