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 28:
1. The auction is carried out voluntarily and publicly in the name
of SINCONA Swiss International Coin Auction AG for the account
of the consignor(s), who remain(s) anonymous.
2. Bidders who are unknown to SINCONA Swiss International
Coin Auction AG (hereinafter referred to as "Auctioneer" or
"SINCONA AG") 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). In principle, telephone bidding is possible
for items with an estimated value of over CHF 500, and
bids must be placed at least 48 hours before the auction begins.
A successful telephone line can not be guaranteed.
SINCONA AG and the operator of the “live bidding” platforms
provided shall endeavour to guarantee the availability and
fault-free operation of these platforms. It shall be for the Bidder
to obtain information promptly concerning the technical prerequisites
and requirements of these platforms and to implement
any installations and adjustments that may be necessary.
SINCONA AG refuses any liability for losses or other claims
resulting from interruptions or delays resulting from technical
faults or defects. Bidders shall have the possibility to submit
so-called “proxy” bids prior to the action on the “live bidding”
platforms provided, i.e. to inform the operators of the platform
of their personal maximum bid limits, which shall be taken into
account by the operators present on the relevant platform in the
hall in the event of the failure of the internet connection or the
platform.
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 prices in the catalogue are estimates in Swiss Francs
(CHF) and represent the minimum knock-down price. Bids that
are lower than the estimate can not be taken into account. 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.
"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. A premium of 18% is payable on the hammer price. For winning
bids submitted using a live bidding system the premium
is 20%. 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 only on the 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.
Shipping to the Russian Federation 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 of
a lot are not accepted. Lots which contain more than one 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.
Zurich, March 2016