Terms of Sale

§ 1 Scope of Application
(1) These terms and conditions are accepted when placing a bid.
(2) In case of any discrepancies between the English version and the German version of these terms, the latter is decisive.
(3) The auction is held in our name and account on behalf of the owner against cash payment of the purchase price in EUR.
(4) 1The partial or entire invalidity of one of these provisions does not affect the remaining provisions. 2The invalid provision is substituted by a valid regulation that takes into account the commercial objective pursued by the invalid provision.

§ 2 Governing Law, Place of Fulfilment, Place of Jurisdiction
1The law of the Federal Republic of Germany applies. 2The United Nations Convention on Contracts for the International Sale of Goods is not applicable. 3Vis-à-vis entrepreneurs in the sense of § 14 BGB and buyers located outside of Germany, Stuttgart is the place of fulfilment and the place of exclusive jurisdiction in relation to any dispute arising out of or in connection with the purchase.

§ 3 Conclusion of the Contract
(1) 1A contract is concluded with the highest bidder upon acceptance of the bid. 2A bid is binding and only expires if it is exceeded by a higher bid or the auction is terminated.
(2) Once the highest bid is called out three times it is accepted and obliges the bidder to collect the goods.
(3) 1In case of disagreements, the Auktionen Münzhandlung Sonntag (AMS) is entitled to accept a specific bid or to auction the item in question again. 2If there are competing written bids in the same amount the date of receipt is decisive.

§ 4 Reservation of Title
Ownership of the goods is only transferred to the buyer upon full payment.

§ 5 Participation, Auction Procedure
(1) 1Access to the auction will only be granted to participants in possession of a catalogue. 2The auctioneer is free to exclude any person from the auction without giving any reason.
(2) The auctioneer is entitled to suspend the sale of an item and to withdraw, separate or combine lots.
(3) 1The prices published in the auction catalogue are estimates; the bidding process starts at 90%. 2The auctioneer sets the levels of increments; usually 5-10 % above the previous bid. 3In general the following minimum levels of increments apply:

up to EUR 100.- --- EUR 5.-
up to EUR 250.- --- EUR 10.-
up to EUR 500.- --- EUR 25.-
up to EUR 1000.- --- EUR 50.-
up to EUR 2500.- --- EUR 100.- up to EUR 5000.- --- EUR 250.-
up to EUR 10000.- --- EUR 500.-
up to EUR 20000.- --- EUR 1000.-
up to EUR 50000.- --- EUR 2000.-
above EUR 50000.- --- EUR 5000.-

§ 6 Bidding
(1) 1Bids can be placed in person, in writing, via telephone or the Internet. 2Bids below the starting price (§ 5 Section 3, Sentence 1) are not considered.
(2) 1Bids from customers unknown to us are only considered if they are filed prior to the auction and a deposit or verifiable bank references are provided. 2Delivery is made against advance payment. 3Unlimited bids are not executed unconditionally but will only be considered up to a maximum of ten times the estimated price.
(3) Telephone bidding must be registered no later than 3 working days before the auction starts and is only possible if the item’s estimated price is at least EUR 500.
(4) 1Written orders must reach us at least 2 working days prior to the auction in order to ensure their proper execution. 2We try but cannot guarantee the execution of bids received thereafter. 3Errors in the process of placing the bid are borne by the bidder.

§ 7 Purchase Price, Buyer’s Surcharge, Shipping Costs, Acceptance of the Goods
(1) The hammer price is the net price with regard to the Value Added Tax Act and serves as a basis for the buyer's surcharge that is calculated in accordance with sections 2-5 of this paragraph.
(2) 1For buyers located in member states of the European Union the following surcharges apply: Consumers pay a surcharge of 25 % (VAT already included). 2Regarding items that are subject to standard taxation a surcharge of 18 % plus the relevant VAT on the total price (hammer price plus surcharge) applies.
(3) 1Buyers located outside of the European Union pay a surcharge of 23 %. 2If we export the goods to these countries, VAT is not charged. 3If the buyer or a third party exports the items to these countries we have to charge the applicable VAT but will refund it once we have been provided with the legally required export documents.
(4) For gold coins that are not subject to VAT a surcharge of 20 % applies.
(5) If the buyer used Live Online Bidding, an extra surcharge of 2,5 % applies in addition to the surcharge calculated in accordance with sections 2 – 4 of this paragraph.
(6) The buyer bears the costs and the risks of shipping the goods.
(7) 1If the buyer is present at the auction the total purchase price is due immediately. 2In other cases the buyer is obliged to pay the total purchase price within
30 days after receipt of the invoice. 3For untimely payments we charge interest (1,5 % per month) and processing fees.
(8) 1If the buyer definitively refuses to accept or pay the goods the buyer forfeits all respective rights. 2The items can be auctioned again and the original buyer is liable for any shortfall but has no right regarding any possible surplus proceeds.

§ 8 Exclusion of Liability
1The liability of AMS is limited to intent and gross negligence. 2AMS is only liable for damage that is foreseeable and typical for the contract.

§ 9 Warranty
(1) Unless differently indicated in the auction catalogue AMS guarantees the authenticity of the auctioned items.
(2) The guarantee is limited to the hammer price plus surcharge.
(3) Reclamations are excluded in the event that the buyer subsequently made changes to the purchased item (damage, cleaning, etc.) and for the following items: Lots, Items with conditions graded less than very fine, items with insignificant rim nicks and alike.
(4) 1Buyers present at the auction buy “as seen”. 2After the purchase buyers that were present are limited to reclamations regarding hidden defects.
(5) 1The information provided in this catalogue, e.g. the specifications and descriptions regarding the preservation levels, are made in good faith and in accordance with the standards of the German coin trade. 2They are merely a personal assessment and do not constitute a guarantee of quality in the meaning of § 434 BGB. 3Therefore the information in the catalogue does not give rise to a legal or factual liability under §§ 434 ff. BGB. 4We do not guarantee that our items will be accepted by a Grading Service and graded in accordance with our assessment. 5Justified reclamations can only be made within one week after receipt of the items.

The Auctioneer: Stefan Sonntag.