Terms of Sale

1. Attica Auction Ltd. (Auctioneer) is acting as a representative of the seller who has deposited his lot(s) towards a public auction in Athens, Greece.
2. The Auctioneer has obtained a guarantee from the seller that every lot offered has good title and is free of any encumbrances or legal claims.
3. The lots of the auction are offered in the condition described in the catalogue. All identification and descriptions of the items sold in this catalogue are statements of opinion and were made in good faith and bears no responsibility towards the bidder or any third party.
4. The Auctioneer bears no responsibility for any damages or condition of the lots described. Every potential bidder can examine the lot in person before the auction. By participating in the auction, it is assumed that the bidder has examined the lot himself or by a representative and is fully satisfied.
5. All bidders are obliged prior to the auction to notify the auctioneer of their full contact details and data.
6. The auctioneer has the right to refuse entrance or participation of any individual and to withdraw any lot in the auction at any moment.
7. Reserves can never exceed the published estimate.
8. Bids are accepted by mail, email or through our approved internet sites and must be received by the auctioneer no later than the end of the previous day of the auction (24:00). Telephone bids are accepted only from approved bidders and under the condition that they are confirmed in writing at least 24 hours prior to the auction.
9. Lots will open for bidding at 80% of the published estimate unless there is a reserve (see paragraph 7). In case of equal offers for a single lot, the offer received first will take priority.
10. In case of any dispute during the auction, the auctioneer will act upon the decision of the legal advisor present in the auction room.
11. Every lot will be sold to the highest bidder who becomes the legally obliged buyer (Buyer). Legal title of the lot will remain with the auctioneer until full payment has been received.
12. Once the lot has been awarded to the Buyer, the final price consists of: a) the hammer price (Euro) b) The auctioneer’s commission which is 20% of the hammer price c) VAT of 24% on the auctioneer’s commission only for all buyers in the European Union. In the Invest Gold (Part B) section, the final price is the hammer price with zero auctioneer’s commission or VAT.
13. Settlement must be made within 10 working days and can be made either upon receipt of the lots on the day of the auction or by bank transfer thereafter to the account mentioned on the invoice (bank transfer fees are borne by the buyer).
14. Late payment (past 10 working days) will be subject to a monthly default interest of 1.5%.
15. Shipping and insurance expenses and possible foreign government taxes are borne by the buyer. Lots over 500EUR are sent by courier while lots under 500EUR are sent either by Airmail or by courier depending on the buyer’s preference.
16. Following settlement of the invoice, the Buyer can collect the awarded lot(s) from the Auctioneer’s premises or instruct the shipment of his lots. Lots not collected or shipped will bear 1% monthly storage fee (of the final price) after 6 months.
17. In the case that the buyer refuses or cannot settle the invoice entirely, the Auctioneer reserves the right to either legally demand the outstanding payment (all costs borne by the Buyer) or all the items on the invoice will be reoffered in a future auction following six months at no reserve and any difference in price will be legally demanded from the initial Buyer including any other costs.
18. In case the awarded lot is proven not genuine, the buyer is entitled to return the lot and receive a full refund (excluding shipping and taxes) within a period of 24 months, under the condition that the lot is slabbed by either NGC or PCGS. For raw lots, the buyer is obliged to send the lot in question to NGC or PCGS at his own cost. The refund will be determined by the decision of one of these grading companies. A refund under these conditions will only be issued for an authenticity dispute.
19. In case of an incorrect description, the buyer can return the lot within 2 weeks from its receipt and is entitled to a full refund considering the lot was paid on time. After the period of 2 weeks, no return or refund is possible (unless for authenticity dispute, see 17).
20. All returns for refund (see paragraph 17 and 18) are only applicable if the lot(s) returned is (are) in the original condition as when sold and legal title has not been transferred to a third-party during this period. Lots described in the catalogue as “LOT SOLD AS IS” have no right for return.
21. In the Invest Gold section, the starting price of the lot will be determined by a) AGW (net gold weight of the lot) which is stated in the catalogue b) the last officially published gold price by the Bank of Greece (row: χρυσός (99) – column: αγορά). The price can be found: https://www.bankofgreece.gr/kiries-leitourgies/agores/xrysos/deltia-timwn-xrysoy/anazhthsh-deltiwn-timwn-xrysoy
Example: (31.1035 x AGW) x Bank of Greece αγορά price in grams
22. In the Invest Gold section there is no auctioneer’s commission or VAT on it. The Buyer is responsible for shipping and insurance costs, and taxes applicable to each country.
23. Participation in the auction constitutes to the unconditional agreement to all the above terms and conditions.
24. Every legal dispute between the Buyer and Auctioneer is subject to Greek law and the exclusive court of jurisdiction is Athens, Greece.