Admission to the auction will only be granted to interested persons in possession of a catalogue. With submittal of a written or verbal bid the following conditions are deemed acknowledged..
The auction takes place with cash payment being due to the authorized representatives of Dr. Busso Peus Nachf. by bidders present in the auction. For written bids the invoices are due 10 days after receipt of the goods.
The adjudicated prices are net prices according to the German VAT law. A buyer´s commission of 15 % on each individual lot will be added to all purchases made by all bidders. The purchase price (adjudicated price + surcharge) will be subject to the current VAT rate, presently 7% respectively 19 % if the purchase price is lower than the 2,5fold of the metal value (except for silver coins and medals dated before 1914).Trade gold as defined by § 25c as well as gold coins that are legal tender and published on the respective list of the European Community for the current year are not subject to VAT; the auctioneer however reserves the right to subsequent charge for coins not included in the catalogue of the Federal Ministry of Finance which is still to be published.
Private buyers in an EC member country will be charged the German VAT.
Dealers whose registered offices are located in EC member countries are requested to give their VAT registration number with bids in order to facilitate delivery free of VAT.
Foreign buyers from other than EC member countries just pay the surcharge of 15 % on the adjudicated price. Delivery will be made only upon payment in Euro. Part-time payment is not possible. Bank charges must be included in the payment.
Shipment will be at the buyer´s respectively recipient´s risk and cost. Risk of loss and damage is on the buyer. Purchases by foreign customers are subject to the customs regulations of their countries; the auctioneer is in no case liable for any consequences due to non-compliance of such regulations. The auctioneer will take care of consignment formalities.
Bids below 80% of the estimate can not be executed.
The adjudication is made to the highest bid called three times and is binding. In case of dispute the number will be called out once more. The auctioneer is entitled to join, separate or withdraw numbers. The numbers will not be called out of sequence.
Minimum offers:
up to Euro 100,-- Euro 5,--
up to Euro 250,-- Euro 10,--
up to Euro 500,-- Euro 20,--
up to Euro 1000,-- Euro 50,--
up to Euro 2500,-- Euro 100,--
up to Euro 5000,-- Euro 200,--
up to Euro 10000,-- Euro 500,--
over Euro 10000,-- Euro 1000,--
Should payment not be made to the auctioneer forthwith or should the adjudicated property be refused, such property will not be handed over to the purchaser. He rather loses his rights resulting from the adjudication and the property can be put up for auction again at his own expense. The purchaser is liable for any loss but not entitled to claim any excess proceeds.
Written orders will be carried out conscientiously without commission. Orders from customers who have not established credit with Dr. Busso Peus Nachf. will only be carried out upon payment of a deposit or by giving satisfactory references. We kindly ask to send in orders well in time. When identical bids are received be Peus Nachf. for a lot, preference is given to the first bid received as determined by the auctioneer. Unlimited bids have no right to unqualified execution. We reserve the right to increase any written bid by 2-3% if necessary. Participation in the sale via telephone is only granted in the case of pieces with an estimate of Euro 1000.- or higher. However, the application for telephone bidding stands at least for a bid of the amount of the estimate in every case.
The purchased property retains the vendor´s title until is has been paid in full.
The description in the catalogue have been conscientiously performed. Printed prices are estimates. Any complaints must be made in writing within 8 days of receipt of the goods. Forged or falsified items , which have not been identified as such in the catalogue, can be returned and the purchase price will be refunded. Justified claims will be limited to the net invoice price of the delivery in question. In other respects the auctioneer and his staff will only be liable when guilty of intent or gross negligence.
Multiple lots can not be returned except for forgeries. In case that the number of coins contained in a multiple lot is stated as an approximate one, the auctioneer does not warrant for deviations in that number .
Place of venue is for both parties Frankfurt am Main, Federal Republic of Germany. Any dispute or controversy arising from or in conjunction with the auction shall be finally decided by the courts of Frankfurt am Main.
The list of prices realized will be issued to all catalogue receivers free of charge.
For reason of cost catalogues will be ceased to be forwarded when the customer has neither taken part in an auction nor paid the catalogue charge of Euro 15.- for a period of 18 months.
Unless otherwise specified the general auction regulations as valid in the federal Republic of Germany are applicable.
These conditions are available in German, French, Italian and English, only the German Version being definitive in the event of any dispute.