1. The auction takes place voluntarily and publicly against
immediate cash payment in Swiss francs. Foreign currencies
are accepted at current exchange rates or as credited
by a major Swiss bank. The day of receipt or credit
Peter Rapp AG has the right to withdraw, regroup or refuse
to knock down any lot. In the event of identical bids,
the one first received takes precedence; in the event of
misunderstandings, the lot is reoffered. Bidding increments
are at a minimum of 5% and a maximum of 10%.
2. Lots are awarded to the highest bidder at the time of sale
which creates an obligation to take delivery. A commission
of 22 % is added to the purchase price. Purchase price
and commission are due immediately. Bidders for third
parties are jointly and severally liable with such third parties.
Upon the fall of the hammer, the risk transfers to the
3. All lots marked with * in this catalogue are subject to
Swiss value added tax (VAT). The legal VAT of 8% will be
imposed on the grand total of the auction invoice in any
event (hammer price plus commission plus possible postage,
insurance and additional services).
For auction lots which are not marked with * , the legal
VAT of 8% will only be imposed on the commission, possible
postage, insurance and additional services. Here is the list of lots marked with a *:
4. Platinum, silver, copper (and other non-gold) coins as
well as all medals, (medallions), orders of merit, antiques
etc. are subject to Swiss value added tax (VAT). The legal
VAT of 8% will be levied on the grand total of the auction
invoice (hammer price plus commission plus postage
plus insurance). If the content of the lot contains several
coins and/or medals of different metals, the legal VAT of
8% is to be paid completely.
The value added tax is inapplicable if the lots purchased
at auction are shipped abroad by Peter Rapp AG. Value
added tax will be invoiced to purchasers resident outside
Switzerland who personally collect the lots in Wil. However,
it can be refunded later on if an export certificate
that has been legally confirmed by the Swiss customs authorities
is submitted to us. Domestic traders can deduct
the VAT amount paid to Peter Rapp AG in their own VAT
account as pre-tax.
voice presentation. The lots are privately insured by Peter
Rapp AG and forwarded to the purchaser by mail or by
other means; as a rule, as registered or valued matter.
Forwarding costs and insurance premiums are at the
9. Until full payment of the entire invoice is rendered, title
to all purchased lots remains with the consignor. Prior to
that time, they may neither be resold, pledged nor otherwise
transferred to a third party by the purchaser. Offset
pleas of any type are precluded.
Extension of time for payment is granted by Peter Rapp
AG upon request, supported by appropriate references.
Such special arrangements must be agreed upon prior to
the auction and must be in written form.
10. The lots on auction have been described conscientiously
and with greatest care. The descriptions and pictures are
no guarantee regarding the quality, quantity and genuineness
of the lots and no guarantee for the nature of the individual
lots. Justified complaints must be received by Peter
Rapp AG no later than three weeks after the auction.
11. Buyers attending the auction basically buy «as seen».
Clients who submit their bids in written form have the
possibility to inform themselves about the condition of
the lots by personally attending the inspection days or
by sending a representative. A complaint concerning the
disagreement about the grade/degree of condition of a
lot is not accepted. Lots with more than one sample
are excluded from any kind of complaint.
12. All lots may be inspected in Wil prior to and during the
auction within the hours indicated in the catalogue.
Descriptions in the eCatalogue as well as copies of possible
pictures and certificates for the attention of mail
bidders, do not illustrate guaranteed features and are no
guarantee for quality, quantity or genuineness of the lots.
13. Complaints regarding the grading or disagreement regarding
the condition of the purchased auction lots are not
accepted since there is the possibility to inspect all lots
prior to and during the auction.
14. In case the buyer intends to deliver goods acquired from
us to a grading service, we do not guarantee that the
coins will be accepted or classified by such services in
accordance with our valuation.
5. Buyers have the chance to submit their bids in real time
via the online live bidding system of Philasearch, Numissearch
and Antiquessearch. To do so, you must register
at www.rapp-auktionen.ch. Apart from the terms of
auction sale outlined under points 2 and 3, no additional
charges are incurred when using this service.
If you would rather not place your bid via the Rapp online
bidding system and prefer a different method, the
surcharge is calculated on the basis of the respective
website’s issued terms and conditions.
6. All those persons bidding who are not personally known
to Peter Rapp AG must register by completing a form 48
hours prior to the start of the auction. New customers
must supply the following:
· a copy of a valid passport or identity document
· a valid credit card
Peter Rapp AG reserves the right to request authorisation
of the customer’s credit card prior to the auction, which
means setting aside up to 25% of your bid amount on your
7. The purchased lot must be paid promptly upon receipt of
the invoice, but in no event later than within 7 days after
the end of the auction. Upon exceeding this deadline for
payment, the purchaser is immediately considered to be
in default and, in the event of delayed payment by the
buyer or refusal to take delivery, Peter Rapp AG is authorised
to charge interest, currently at the rate of 5% p.a.
In the event of payment delay on the part of the purchaser
or refusal to take delivery, Peter Rapp AG reserves the
right to either sue for performance of the contract as
well as for payment of the purchase price and indemnification,
or to rescind the sales transaction. In that
event, Peter Rapp AG is authorised to otherwise dispose
the lots, particularly to sell them by private treaty or
to reauction them or to have them reauctioned. In any
event, the purchaser is liable for the arising loss as well
as for any deficiency in proceeds. He does not have a
claim to any excess proceeds and will not be authorised
to submit further bids.
8. In principle, the lots are handed over upon full payment
of the auction invoice. It is solely in the discretion of Peter
Rapp AG to hand over the lots concurrently with in-
15. Written bids are executed by Peter Rapp AG in strict conformity
with the principal’s interests, although without
recourse. The principal may submit alternative bids and
establish an overall limit for the total of his bids.
16. Peter Rapp AG will be pleased to support any purchaser
with the shipment of the auction lots. However, Peter
Rapp AG will not carry out shipment orders to countries
with special agreements or sanctions on the import of
The purchaser is committed to observe the foreign custom
and currency regulations etc. Peter Rapp AG strictly
refuses any responsibility occurred by the contravention
of these regulations.
17. The names of consignors and buyers are, as a matter of
principle, not revealed. Peter Rapp AG is authorised to
assert all rights of the consignor, derived from his instructions
and from the bids, in its own name against the
18. Claims against Peter Rapp AG, arising out of delay, impossibility
of performance, responsibility in the event of
breach of contract, or tortious acts, are excluded, unless
the loss is sustained by premeditated or grossly negligent
19. Place of performance and exclusive court venue: CH-
9500 Wil, Switzerland. However, Peter Rapp AG reserves
the right to sue the debtor at his legal residence.
Additionally, it may summarily exclude persons from the
20. The auction is exclusively subject to Swiss law.
21. With the submission of bids or purchase requests, the
above Terms of Auction Sale are accepted to their full extent.
They also apply analogously to all business transactions
involving auction material conducted outside the
auction. For the purpose of construction of these Terms
of Auction Sale, the original German text applies.
Wil, November 2017