Terms of Sale

The auction is subject to Swiss regulations.
By making a bid, the bidder acknowledges full acceptance of these conditions and will be bound by them.

The descriptions and the grading of the material have been executed with great care. The illustrations are part of the description and in case of doubt, the text is authoritative. All written conditions are expressed accordingly to the American grading scale used by third party grading companies like NGC or PCGS. For unslabbed lots, the auction house has made its best efforts to assign the possible grade that each coin could receive if it were to be certified. Lots described in French have additional information related to the European grading system. The catalog published on the Internet is only informative. Only the printed version shall prevail. The lots may be viewed during the exhibition days and during the auction. No claims will be accepted for any divergence of views on the state of conservation of a lot.

Bidding can be done by absentee bid, by telephone, in the room, or by internet.
To bid in this auction, references are requested, along with a valid identity document.

Absentee bids are executed with care by Chaponnière & Firmenich SA, without any extra fees. However, the auction house can only guarantee their registration if they are received at least 24 hours before the sale. Commission bids of less than 100% of the starting price will not be considered. If several identical commission bids are received, the first bid received prevails.

Telephone bids are possible for lots with a minimum starting price of CHF 500 and must be announced at least 48 hours before the start of the auction.

To bid in the auction room, the bidder must register at the entrance desk, providing an ID. He will then receive a bidding card for which he will be responsible. The auction house reserves the right to deny access to the auction room to anyone without having to provide an explanation.

To bid on the internet, new clients must register 2 days before the auction date, to allow the auction house to verify the given references or to ask for a deposit.

The auction house is also entitled to refuse bids without explaining the reasons. The auction house may change the order of the lots provided in the catalog and/or group lot numbers. Lots of more than one coin cannot be separated. The direction of the auction reserves the right to re-auction a lot in case of misunderstanding.

The winning bid becomes effective at the third call of the highest bid and requires the winning bidder to accept the auction lot that was bid upon. The bidder present at the sale shall be solely responsible for all purchases made, even if acting as an agent for a third party.

The sale is for cash in Swiss francs. The hammer price is increased by a buyer’s premium of 22.5%. For internet live bidders, there will be an additional fee of 3,0%. And 1,0% is added for purchases by phone.
The Swiss VAT (7.7%) is not applied on gold coins (except the 1 and 4 Ducats from Austria and the shooting 100 Fr. from Switzerland 1934 and 1939), all the other metals or material are subject to the VAT. The VAT is calculated on the hammer price plus the fees. If the lots are to be shipped outside of Switzerland, the Swiss VAT is not applied.

Shipping and insurance fees are at the charge of the buyer. They are added on the invoice. All taxes levied abroad such as customs duties and other taxes are the sole responsibility of the buyer. Compliance with the requirements of customs, foreign exchange etc., valid abroad, are the buyer’s responsibility. The direction of the auction shall take no responsibility for any consequences resulting from the non-compliance with these requirements. Insurance regulations require that losses or damage in shipment be reported to us immediately.

Payment is due in full and can be realized in Swiss Franc (CHF), Euros (EUR) or US Dollars (USD), within 15 days following the receipt of the invoice, by wire transfer or in cash. All bank fees are at the charge of the buyer. WE DO NOT ACCEPT PAYPAL PAYMENTS. Late payments will incur a monthly default 1% interest rate. If the billed amount is not paid within the agreed period, Chaponnière & Firmenich SA may cancel the purchase. Ownership of the lots shall not be transferred until the invoice is paid in full..

The authenticity of all the lots in this sale is guaranteed.
Claims from bidders who are present in the auction room will not be accepted as they have the opportunity to see the lots by themselves. Complaints by mail bidders will only be considered if obvious defects have been overlooked and not described. Customers who collect the goods personally must assert their claims upon receipt, and absentee bidders must file their claims within 8 days upon receiving the goods. No claims will be accepted after this date, even in the case where an expert would conclude the non-authenticity of the lot purchased at the sale. The claimed lot must be in the same condition as delivered when returned for refund. The warranty for the slabbed coins (PCGS, NGC) expires if the holders are opened or damaged. Multiple lots are excluded from warranty, as well as lots with the mention “sold as is, no return”. All lots with multiple items are sold as is, no return possible. All financial claims are excluded.

Any and all disputes shall be subject to the exclusive jurisdiction of the Zurich courts, and the Geneva Public Auction Act (LVVE), except for those to recover payment for lots sold here under which may be pursued wherever the buyers may be found. The municipal officer, the city and the state have no liability whatsoever in this sale: any liability of our authority and also any liability of the State for acts of the Auction House shall be waived (§ 20 Abs. 1 lit. d und 3 der Verordnung des Obergerichts über das Verfahren bei freiwilligen öffentlichen Versteigerungen).

The sale will take place under the supervision of the city of Zürich - Politics and Law - office of Mr. Grübel.