Participation in the auction requires the following conditions:

1. The auction takes place on behalf of and for the account of the owners, and it is organised and conducted by the Kft.
2. All items can be viewed and examined during the time of the exhibition. Descriptions of the items are given in good faith. The items will be auctioned with the indication of their errors and grading. Justified complaints (discovering a serious error e.g. a trace of mounting, a hole plugged, a solder mark, which are not indicated in the catalogue) can only be considered within eight days from the receipt of the items. All buyers in the room buy the lots “as viewed”. The auctioneer is entitled to group, separate or omit lots.
3. The authenticity of every coin and medal is guaranteed by the Ltd.
4. All prices are in Euro. The prices printed in the catalogue are starting prices at the same time, and bids below these minimum prices cannot be accepted. The bidding increment is about 10% as a rule. The adjudication ensues after the highest bid has been called three times. In disputable cases, e.g. if the identity of the bidder is not definite, or a higher bid is ignored, the auctioneer decides whether a lot is to be put again or not.
5. Numbered discs: before the auction numbered discs will be distributed. Personal data of the buyers are temporarily stored in the computer together with these numbers. It is required for the immediate receipt of invoice service and for avoiding misunderstandings. During the auction numbered discs serve for bidding. Every buyer is liable for his purchases. He cannot claim to act for a third person. We remind the buyers to return the discs personally after the auction whether the bidder was successful or not. Participating in the auction is possible by mail bidding, or through telephone during the time of the auction. Mail bidding is executed by the Ltd. Bidders unknown to the Ltd. are requested to produce deposit or authorised bank cheques.
6. The buyer is obliged to take the items and pay for them after the adjudication. Every buyer is liable for all his purchases he made.
7. An additional charge of 20% is added to the adjudication price. Purchase price consists of the adjudication price and the additional charge.
8. Buyers are requested to pay immediately after the auction in cash. The exclusive right of the lot is due to the buyer with the payment settled. In agreement with the buyer the Ltd. is entitled to accept a 20% of payment as a down-money if the rest of the payment is made within 14 days after the auction. In this case the sole right of the item(s) is due to the buyer only after making the full payment. In case of written bids or those made over the phone, payments should be made within 14 days after the receipt of the invoice either in our office in cash or by remittance. The Ltd. is entitled to levy an additional charge of 10% in interest for default in payment. To the attention of our foreign buyers.
9. To the professional dealers all the customary rights and advantages are ensured by the Ltd.
10. All the catalogue numbers with the exception of those which are marked as “védett” (under protection) can be taken out of the country with the invoice given by the Ltd., which serves as an export licence at the same time. The coins acquired can be despatched at the risk and cost of the buyer.
11. We are ready to given information on the items in advance too. Withdrawal of any kind should be made in written form. Only the Hungarian text is legal force. The court of competency for any legal proceedings is Budapest.

Pannonia Terra Numizmatika Muonas Kft.