Terms of Sale

The auction is voluntary and is conducted on behalf of the vendors. The lot shall be sold to the person making the highest bid at a sum equal to the next highest bid plus a fixed increase. If there is only one bid the lot will be sold for the starting price In the event of two identical bids the first bid received has priority.

All bids must be made in euro (EUR). All invoices pertaining to auction purchases are made out by AB Philea, the financial and legal counterpart to all buyers and vendors at Myntkompaniet’s auctions.

Commission of 21 % is added to the hammer price for both domestic and foreign customers. AB Philea uses the “Margin scheme” (also known as the “Global System”) meaning that no VAT will be specified on invoices. When incurred, expenses for insurance and postage are also added.

Bids made are binding. In the event of bids being presented by persons on behalf of another (agents) the person presenting the bid is liable to satisfy the sales conditions as if it were his own bid. The person presenting the bid is also responsible for errors made by him in when acting as agent at the auction. Similarly, the person presenting the bid is liable for any errors or misunderstandings in the case of unconfirmed bids by telephone or telegraph.

The auction will be conducted with as much care as possible but without any undertaking on our part. We reserve the right to reject persons from the auction and decline bids without giving any reason for doing so. We also reserve the right, in the event of misunderstanding or differences of opinion, to re-offer the goods for auction.

Payment for lots purchased by a bid at the auction shall be made in cash, or against a pro forma invoice. The lots remains the property of the vendors until such time as full payment is made. Payment shall be made within 8 days of the date of invoice. In the event of delay in payment interest is charged at 2 % of the invoiced sum for each month commenced plus a reminder fee of SEK 40 (≈3.50 EUR). If payment has not been received by us within, at the latest, 30 days after the date of invoice or if the purchaser refuses to pay, we are entitled to sell the lot at the purchaser’s expense without giving any further notice. If this occurs the sum received on sale, after deduction of sales expenses, will be deducted from the unpaid debt. Any sum remaining due will be subsequently recovered by legal measures.

Foreign customers will receive pro forma invoices.

Lots are sold “as is” except where other remarks concerning their state have been made in the catalogue. This means, among other things, that defects not visible in photographs or deviations from descriptions of state of individual articles are not regarded as defects. Information regarding grades are our opinion only, and are therefore not grounds for complaints or returns.
For collections and accumulations tradesmen are not entitled to make any claims and private consumers rights are limited to those stipulated in Section 9 of the Swedish Consumers Sales Act.

Complaints must be presented within a reasonable time after the purchaser discovered or ought to have discovered the defect, normally within 10 days following the purchaser’s receipt of the lot or his having had such opportunity following notification by his post office of the lot’s arrival. If a complaint is approved the price of the lot will be repaid to the purchaser plus any postage.

The presentation of verbal bids or auction instructions means that the above conditions are approved.

The auction is conducted and sales made are subject to the exclusive jurisdiction of the Swedish courts and is subject to Swedish law.