1. These Terms and Conditions govern the auction sales (voluntary, joint auctions of movable items held in accordance with Act No. 26 / 2000 Coll., Act on Public Auctions (hereinafter referred to as the "Act") operated by Punctum Auctioneers s.r.o. (hereinafter Punctum), with its official registered office located at Masarykovo nábřeží 2018/10, Prague 2, postcode: 120 00
2. In organizing auction sales Punctum acts on the behalf of sellers and suppliers of paper money. Punctum therefore operates as an intermediary/mediator and all items listed and offered in each auction are sole property of seller and supplier. As such Punctum is entitled to remuneration for arranging the sale of the item and to reimburse the costs incurred in connection with the auction.
3. Buyers can attend Punctum auctions sales by registering to Auction Mobility platform that Punctum uses as its auction sales interface. After registration, Punctum reserves the right to approve the future buyers/bidders and assigns a paddle number to each buyer/bidder once they are approved to take part in the auction sale.
4. In each and every auction sales Punctum reserves the right to add/remove/update lots/items on offer or catalogue in course of both the pre-bidding and live phase as unforeseeable changes might occur after competition of items/lots on offer or catalogue.
5. Punctum is the sole authority allowed to determine the winner of any bid, cancel the sale of an item/lot (before or after their sale) or to offer an item/lot previously up for bidding, at its sole discretion.
6. Punctum aligns with professional standards of paper money description (e.g., quality determination complying with IBNS standards); and best practice in notaphily (e.g., carefully checking TPGs catalogue description and its accuracy). However, descriptions of the lots/items are not binding and reflect Punctum’s best understanding banknotes’ quality and provenance. Punctum, in other words, does not assume the role of the ultimate authority when determining the quality and provenance. We strongly advise to use the opportunity to view and inspect the lots/items in our office before the auction.
7. The currency of the auction sales (i.e., bidding and payment) is the US dollar.