Terms of Sale

1. Auction: We organize and carry out the auction sale of goods listed in this catalogue voluntarily and publicly in our own name and for the account of the consignors, whose data we do not disclose due to the protection of legitimate interests. We are entitled to exercise in our own name all rights of the consignor vis-à-vis the buyers, arising either from the contractual relationship (purchase contract) or non-contractual legal liability (including liability for damage, unjust enrichment or other legal grounds).

Upon submission of a bid in writing or electronically, the participant expresses its unconditional consent to the content of these Terms of Auction Sale (hereinafter the “Terms”).

2. Participation: Participation in the auction is possible only remotely, by one of the methods mentioned in the catalogue. Participation in the auction and purchase of the goods is allowed only in participant’s own name and for its own account; representation is excluded.

Participation in the auction is conditioned by the identification of the person or entity interested in participating in the auction and its proper registration. Further details on the identification and registration processes, including the special conditions and obligations related to remote participation, can be found on our website - www.machochlapovic.com.
Legal entities are required to register for the auction no later than 10 working days before the auction. Unless otherwise individually agreed, we do not accept legal entities outside the EEA, SUI, UK, USA, CAN, AUS and New Zealand. Foreign legal entities unknown to us (except those from the Slovak Republic or the Czech Republic) must also submit an official document (equivalent to an extract from the Commercial Register) proving at least the business name, legal form, registered office and persons authorized to act on behalf of the legal entity, not older than 3 months, as well a valid identity document of the person acting on behalf of the legal entity. The documents must be in either English or German or be officially translated into one of these languages.

The participant acknowledges that if, at the time of the auction, its registration data shall also include details of a legal entity, such data will be taken into account only if the participant, in accordance with the obligations set out in this section of these Terms, has duly and timely registered the legal entity in question to participate in the auction. Otherwise, it is considered that the participant participates in the auction as a natural person - according to its current personal data, which it provided us during registration.

We reserve the right, in our sole discretion, to reschedule the auction or to change its venue - we will communicate such a change in a suitable form to already registered participants and also in the form of an announcement on our website.

We reserve the right, in our sole discretion, to require unknown participants to deposit a reasonable monetary security deposit before the auction, which serves to secure the full settlement of all financial obligations of the participant arising from its participation in the auction according to these Terms, including those arising from any breach of the participant's obligations under these Terms. We are entitled to satisfy our claims secured by the security deposit by offsetting them unilaterally and notifying the participant in writing.

We reserve the right, in our sole discretion, to refuse to register for the auction or exclude from the ongoing auction the participants whom we suspect of unfair conduct. We reserve the right, in our sole discretion, not to accept the participant's bid and also the right to refuse to award the hammering.

3. Goods description and viewing: The descriptions of the items in the catalogue and their classification according to preservation criteria were carried out with extreme care. All items in the catalogue are possible to inspect in person at the specified time and place (information is available in the catalogue and on our website).

Duly registered participants may submit bids in the auction in accordance with these Terms.

4. The course of the auction: Duly registered participants may submit bids in the auction in accordance with these Terms.

We diligently execute written limited bids with regard to the legitimate interests of the consignors, but vis-à-vis the bidder without any responsibility for the achieved auction result of the item.

Participants submitting limited or “live” (in real time) bids via the AUEX on-line platform, which is available on the website https://machochlapovic.auex.de, also follow the rules of this platform. Together with the provider and operator of the on-line platform, we will try to ensure its availability and trouble-free operation. However, it is the participant’s responsibility to obtain information in advance about the technical prerequisites and requirements of the on-line platform and to implement all necessary installations and adjustments on its equipment. We are not liable for any losses or any other claims resulting from interruptions or delays due to technical defects or problems.

The prices listed in the catalogue for each item are minimum prices in euros (starting price), lower bids cannot be accepted. We reserve the right (differently from the catalogue) to combine or to separate items, change their sequence or to place the unsold items back into the auction. The auction of particular item begins by calling out its sequence number and its starting price. The minimum bid increment is determined by the current bid on the item as follows:

up to 20 € : 1 €
20 € - 50 € : 2 €
50 € - 100 € : 5 €
100 € - 200 € : 10 €
200 € - 500 € : 20 €
500 € - 1.000 € : 50 €
1.000 € - 2.000 € : 100 €
2.000 € - 5.000 € : 200 €
5.000 € - 10.000 € : 500 €
10.000 - 50.000 € : 1.000 €
20.000 € - 50.000 € : 2.000 €
50.000 € - 100.000 € : 5.000 €
100.000 € - 200.000 € : 10.000 €
200.000 €- 500.000 € : 20.000 €
500.000 € - 1.000.000 € : 50.000 €
over 1.000.000 € : 100.000 €

Limited bids, if they are not a multiple of the above rates, will be rounded to the nearest possible bid downwards. If same bids are submitted, limited bid shall prevail over the on-line “live” bid. In the event of two or more same bids of the same type, the earliest received will take precedence.

The hammering will be awarded to the bidder after its bid was called out three times and no higher bid has been submitted. The hammering obliges the successful bidder to take over the goods and pay the purchase price. Objections to the hammering are not permitted. We shall decide, in our sole discretion, on any disputes regarding the course of the auction.

5. Price and payment conditions: By hammering we accept the highest bid, hence the auction price is agreed upon and the purchase contract is concluded. The auction price is the basis for the calculation of the buyer’s premium of 20% (including applicable VAT) of the auction price. The auction price together with the buyer’s premium constitutes the contractual purchase price. We accept payments in euros or in Czech crowns (converted at the exchange rate of the ECB on the previous day of the auction). We accept payments in accordance with the current buyer’s residence at the time of the auction as follows: (i) in the case of the buyer’s residence in the Czech Republic, the buyer will be obliged to pay the purchase price in Czech crowns; and (ii) in the case of a different residence, the buyer will be obliged to pay the purchase price in euros. However, the participant may ask us in writing, no later than before the beginning of the auction, for the possibility to pay in the currency of its choice, but always in either Czech crowns or euros. If we accept the request, such special agreement will take precedence over the general rule.

Unless otherwise individually agreed, buyers are required to pay the purchase price for the goods within 7 days from the auction. After expiry of this period, we are also entitled to charge interest on late payment of 0.05% of the outstanding amount for each day of delay.

6. Rights arising from breach of contract: If the buyer is in default with the payment of the purchase price or refuses to take over the purchased goods, we have the right to sue the buyer for performance of the purchase contract, the right to compensation for damages resulting from non-fulfillment of the purchase contract and the right to withdraw from the purchase contract. The buyer also bears all costs that will be incurred in the recovery of any of its outstanding debts (in particular the cost of legal representation, court fees, etc.).

Delay in payment of the purchase price by more than 3 business days shall be considered a substantial violation of the purchase contract and in such case we have the right to withdraw immediately from the purchase contract. Withdrawal from the purchase contract is effective upon delivering of the notice of withdrawal in writing to the buyer’s address (or e-mail address) which it stated during its registration for the auction.

7. Cooperation: In accordance with the valid legal regulation in the area of AML (in the Slovak Republic Act No. 297/2008 Coll., in the Czech Republic Act No. 253/2008 Coll.), we carefully and according to legal criteria evaluate the degree of risk of legalization for each transaction. Participants and buyers are obliged - at any stage of the auction or after the auction - to provide us with the cooperation and information needed for their identification and, to the extent defined by law, also other information needed to assess the risk of legalization (employment, economic or financial data, etc.). We process such data in accordance with the GDPR solely for the purpose of compliance with legal (statutory) obligations to which we are subject. In the event that the participant or the buyer does not promptly provide us with the legally required cooperation and/or information and, in particular, frustrates or significantly impedes the successful completion of the transaction, it will be liable for the damages caused thereby.

8. Delivery and title: In principle, the buyer is obliged to take over the purchased goods at the auction venue within 10 days from the auction. Upon special agreement, the goods can be shipped to the buyer at its own risk and expense (shipping, insurance and other eligible expenses will be charged).

We do not ship goods to the Russian Federation, nor to other countries that are also members of the Commonwealth of Independent States. When submitting a bid, participants from these countries are deemed to make a declaration that the goods purchased at the auction will be collected in person in Bratislava or in Prague.

The risk of damage passes to the buyer at the moment when the goods were handed over to the buyer or, based on its authorization, to the contractual carrier.

9. Claims and damages: For all items listed in the catalogue we guarantee their authenticity. Warranty claims arising from defects in the goods concerning their condition or quality will be considered only if we have overlooked obvious defects in the goods and they have not been described or otherwise visible in the catalogue. Buyers who collect the goods in person are obliged to claim such obvious defects on the spot when taking over the goods, others are obliged to claim them within 7 days of receipt of the goods. Later claims will not be accepted. Claims due to disagreement regarding the level of preservation of the goods will not be accepted. Items classified as “fine” or lesser quality, as well as multiple lots, are excluded from claims of any kind.

Defective good must be returned to us in the same condition as it was handed over to the buyer, unencumbered by third party rights. The right to claim warranty, as well as any claims related thereto, are provided exclusively to the buyer and may not be transferred / assigned to a third party.

Buyer’s claims for damages against us are excluded; this shall not apply in cases where the exclusion or the limitation of damages is expressly prohibited by law (damages resulting from our intentional or grossly negligent conduct, etc.).

10. Export: Payment of all taxes, customs and fees payable abroad is the responsibility of the buyer. In accordance with the valid legal regulation (in the Slovak Republic Act No. 207/2009 Coll., in the Czech Republic Act No. 71/1994 Coll., in the EU Regulation (EC) No. 116/2009 on the export of cultural goods), when exporting objects of cultural value abroad, it is the buyer’s obligation to obtain the relevant export certificate at its own risk and expense. Upon special agreement, we will provide the buyer with the service of obtaining the export certificate for a fee.

11. Final provisions: The auction sale in the e-live auction is organized from and will take place in Bratislava, Slovak Republic. The auction sale under these Terms shall be governed and construed in accordance with the laws of the Slovak Republic. An auction sale under these Terms shall not be considered as auction within the meaning of Act No. 527/2002 Coll. in the Slovak Republic, or within the meaning of Act No. 26/2000 Coll. in the Czech Republic.

The auction is conducted according to the rules of the International Association of Professional Numismatists (IAPN, www.iapn-coins.org).

The written form of legal acts (withdrawal from the purchase contract, offset, invoice for goods, etc.) is preserved even in the case of communication to the participant's e-mail address which it stated during its registration for the auction. The effects of the notification and delivery of documents shall be preserved even in the case of provable sending of an e-mail to the participant's (buyer's) e-mail address which it stated during its registration for the auction.

If these Terms are available in several languages, in case of any discrepancies, the Czech version shall prevail.

These Terms are effective from the date of their issue.

MACHO & CHLAPOVIČ a.s., Bratislava, Slovakia, ID No.: 45 490 112

March 10, 2023