(1) By submitting a bid, a bidder acknowledges his acceptance of the following terms and conditions and will be bound by them.
(2) The winner of the lot will be the highest bidder. In the case of two conflicting similar bids, the earlier bid will be considered the winning bid.
(3) In case of any complaints or disputes, the auctioneer (MKIC) holds the right to settle the dispute as he thinks best.
(4) MKIC holds the rights to cancel a bid, withdraw a lot, or deny a bidder from the auction without any given reason.
(5) A buyer’s premium of twenty percent (20%) will be added to the hammer price for each lot won by a bidder.
(6) All buyers must, only if required, provide proof of identification and references (other auction houses).
(7) Bids can be submitted through the timed auction platform, mail, and email. For bids submitted through mail, the auctioneer cannot be held responsible if these bids are not received in time, shortly before the auction starts.
(8) The description of the lots is in no way a guarantee. MKIC attempts to describe the coin in terms of weight, diameter, grade, and all other information as accurate as possible. The buyer is responsible for examining the photos of the lot and confirming its description.
(9) Lots auctioned by MKIC are guaranteed to be genuine, except if the lot is described as a “reproduction”. Lots that are certified by NGC, PCGS, or ANACS are guaranteed to be genuine by those grading services, and MKIC is not responsible for any claim on authenticity for these lots.
(10) Refunds are not accepted for any reason, except if the lot(s) is proven to be non-genuine and if the lot does not resemble the photo(s), if any. This does not apply to lots which are described as “reproduction”. In this case, the buyer is responsible for safely shipping the lot(s) back to MKIC in their original shape, after which a full refund, minus the shipping costs, will be issued. MKIC requires a well-known expert’s opinion on a claim on a lot’s authenticity. MKIC also holds the right to select an expert. Refunds are only accepted if the buyer submits a claim within 2 weeks of the delivery date.
(11) MKIC acts as an agent between the seller and the buyer, and shall not be held responsible for any default by either party or for any action or claim that may arise in connection with any lot.
(12) (a) Payments for lots are due at the moment an invoice is received by email. If payment is not received within 14 days of the conclusion of the auction, extra storage fees may apply. (b) Payment can be made through PayPal, bank transfer, or Western Union. (c) For payments made with PayPal, an additional fee of four and one-half percent (4.5%) will be added to the total invoice amount. (d) For payments made via bank transfer, an extra fee of $35 USD is added. (e) For all payment methods, the buyer should make sure that MKIC receives the full amount, meaning any fees that may apply should be taken care of by the buyer. If you are not sure what fees may apply, make sure to contact your bank or your transfer agency beforehand. (f) The auctioneer holds the right to deny PayPal payments. In this case, a payment by bank transfer is required. (g) All transactions are in USD currency. For other currencies, further fees will apply.
(13) (a) After payment is concluded, the lots are shipped by MKIC, and lot pickup is not a possibility. (b) Shipping methods used are registered mail, express EMS mail, or FedEx Express. (c) Risk of loss is on the buyer. MKIC holds no responsibility on orders that are lost in transit, due to insurance not being provided for these shipping methods. With that said and the risks understood by the buyer, our shipping methods are very safe as we do frequently ship valuable shipments via these methods. (d) MKIC also holds the right to determine shipping and handling costs on invoices, with $10 USD as a minimum for registered mail to non-GCC countries, $35 USD as a minimum for express EMS mail to non-GCC countries, and $130 as a minimum for FedEx shipments to non-GCC countries. Shipping costs are lower for shipments headed to GCC countries, including the United Arab Emirates.