The following conditions of auction, which are deemed to be accepted in
full upon submission of a written, electronic, verbal or telephone bid,
apply to SINCONA auction 19:
1. The auction is carried out voluntarily and publicly in the name of
SINCONA AG for the account of the consignor(s), who remain(s)
anonymous.
2. Bidders who are unknown to SINCONA AG (hereinafter referred to
as "Auctioneer") are asked to prove their identity prior to the auction.
In addition, the Auctioneer reserves the right to deny individuals
access to the auction premises, at its own discretion and without
stating a reason.
The Auctioneer is entitled, with the approval of the auction monitor,
to deviate from the designated order in the catalog and to combine
lot numbers. Lots may not be divided up. In case of disagreement,
the Auctioneer may re‐offer a lot. The auction is conducted in German
and partly in English.
3. The following auction lots marked in red require an enhanced due
diligence of the customer before any bids (written, by mail, fax, telephone
or personally in the auction room) to be accepted and approved:
Lots 3, 43, 170, 207, 218, 222, 244, 312, 337, 340, 406, 418,
419, 426, 509, 552, 567, 571, 683, 687, 706, 714, 752, 753, 773, 880,
923, 1204, 1210, 1226, 1232, 1247, 1299, 1305.
Please contact SINCONA AG before the sale by no later than 5 October
2013 if you would like to bid for one of these lots using any of
the above methods. If SINCONA AG has not received your request in
time, bidding for these lots will strictly NOT BE POSSIBLE!
4. The Auctioneer executes written orders and telephone orders
diligently and in the interests of the consignor, however without liability.
Written bids (and bids submitted electronically) can only be
considered if they are received no later than 24 hours prior to the
auction (or 12 hours for bids submitted via an Internet platform).
Telephone bidding is only possible in exceptional cases and for items
with an estimated value of over CHF 3,000, and bids must be placed
at least 48 hours before the auction begins.
5. Only the descriptions of each respective lot number in the printed
catalogue, and not the illustrations, are binding for the auction. The
auction catalogue published on the internet is for information purposes
only.
6. The award takes place following a call for the highest bid, which
commits the highest bidder to purchase the lot. If equally high written
bids are received, the first received bid has priority. Bids that are
lower than the estimate can not be taken into account. "Either / or"
orders and order limits can only be executed or considered conditionally.
The Auctioneer may reject a bid, without stating a reason
and without liability. The risk passes to the buyer with the fall of the
hammer. Each successful bidder is personally liable for his purchases
and can not claim to have bought for the account of third parties.
7. If the highest bidder is present in person, a premium of 15% is
payable on the hammer price. For written and electronic bids, the
amount of the premium is 18% of the hammer price; for telephone
bids, this amount is 20%. After the knockdown has taken place, the
auction invoice is due for immediate payment in the Swiss currency.
8. For platinum, silver and copper coins and all medals, banknotes,
decorations, antiques etc., statutory value added tax at the rate of
8% is charged on the total of the auction invoice (i.e. hammer price
plus buyer's premium and any shipping costs and insurance premiums).
Value added tax is not charged for state‐embossed gold coins and
the associated premiums.
Value added tax is not payable if the Auctioneer ships the auction
lots abroad. Value added tax is initially charged to buyers residing
outside of Switzerland to whom the auctioned lots are handed over
in Zurich; however this is refunded in full by the Auctioneer once the
definitive tax assessment decision of the Swiss Customs is to hand.
9. The auction invoice is due for payment immediately upon receipt,
however by no later than 10 days after the end of the auction. After
expiry of the payment period, the buyer automatically falls into arrears
and the Auctioneer is entitled to demand interest at the rate
of 10% p.a. If the buyer is in default of payment or refuses to accept
the auctioned lot, the Auctioneer reserves the right to sue the buyer
for either fulfillment of the contract or for compensation for losses
resulting from non‐fulfillment, or to withdraw from the contract.
10. In principle, the auction lots are only handed over or shipped after
full payment of the auction invoice. It is at the sole discretion of the
Auctioneer to hand over lots on account. Costs incurred abroad,
such as customs duties and taxes, as well as the associated shipping
costs and insurance charges, are borne solely by the buyer.
Due to current foreign legislation, shipment of the following items
to the following countries is not possible at present:
‐ USA: Antique coins
‐ Russia: All numismatic items
Shipping to the Czech Republic is expressly made subject to the recipient's
own risk.
11. The auction item remains the property of the consignor until the
auction invoice has been paid in full.
12. Compliance with foreign customs and exchange regulations etc. is
the responsibility of the buyer. The Auctioneer expressly disclaims
responsibility for any consequences that may arise from contravention
of such regulations.
13. The lots to be auctioned are described to the best of our knowledge
and belief and with great care. Bidders have the opportunity to inform
themselves about the condition of the lots, in person or
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through a representative, during the viewing days listed in the catalog.
Justified complaints regarding the condition of the auctioned item
must be received by SINCONA AG by registered mail. Claims due to
disagreement about the level of conservation of a lot are not accepted.
Lots which contain more than one piece are excluded from
claims of any kind.
14. The authenticity of the auction items is guaranteed. The right to
claim warranty is granted to the buyer only and can not be assigned
to third parties. The assertion of the warranty claim requires the
buyer to give notice of defect to SINCONA AG by registered letter
immediately after discovery of the defect and the forged auction
item must be returned to SINCONA AG in the same condition as it
was handed over to the buyer, unencumbered by third party claims.
The buyer must, at his own expense, provide proof that the auction
item is a forgery. SINCONA AG may require the buyer to seek the
opinion of two independent experts recognized in the field, at the
buyer's own expense; however, SINCONA AG is not bound by such
opinion and reserves the right to seek additional expert advice at its
own expense.
15. For coins in so‐called "slabs", any warranty is void as soon as these
are opened.
16. Justified claims of the buyer against SINCONA AG concerning the
condition or falsity of the auction item are limited to the refund of
the purchase price and the premium paid by the buyer (including
any VAT). Further or other claims of the buyer against SINCONA AG
or its employees are excluded under any legal title whatsoever.
17. The names of the consignor and the buyer are not normally disclosed.
The Auctioneer is entitled to exercise all rights of the consignor
against the buyer arising from the contractual relationship in
its own name.
18. The place of fulfillment and the exclusive place of jurisdiction is
Zurich 8001, Switzerland. In addition, Swiss cantonal and federal
laws apply. The auction and all related legal transactions are subject
exclusively to Swiss law.
19. The original German text is authoritative for the interpretation of
the present conditions of auction in the German, French and English
languages.