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Auktion156-Numismatik

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General auction conditions<br />

Which are also applicable exclusively without written<br />

acknowledgement upon submission of personal or written bids.<br />

1. The auctioneer acts in his own name for the<br />

account of his client, who remains anonymous.<br />

(as commission agent)<br />

2. During the auction, the auctioneer reserves the<br />

right to combine or separate the lot numbers of<br />

the catalogue, to offer these out of sequence or to<br />

withdraw them.<br />

3. The items to be auctioned can be viewed prior<br />

to the auction. The catalogue descriptions are<br />

given to the best of our knowledge and belief and<br />

are no guaranties according to the Sale of Goods<br />

Act. The auction house accepts no liability for<br />

defects, insofar as it has complied with its duty of<br />

care. Apart from collections, the auction house<br />

does however engage to claim warranty rights<br />

from the supplier for justified claims, which must<br />

be notified to the auction house at the latest<br />

within one week of receipt of the item, within the<br />

1 year period of limitation. In the event of a<br />

successful claim against the supplier, the paid<br />

purchase price, including the buyer’s premium,<br />

will be refunded. Any additional claim, including<br />

compensation for the costs of the claim, such as<br />

postage, inspection fees, etc., is excluded.<br />

4. Knockdown takes place to the highest bidder<br />

after it has been proclaimed three times. In<br />

justified cases, the auctioneer can refuse to<br />

knockdown or to award it subject to a proviso.<br />

The auctioneer can withdraw the knockdown and<br />

offer the item again, where a bid that was made in<br />

time was overlooked or where the highest bidder<br />

does not wish for his bid to stand, or where other<br />

doubts arise as to the knockdown. Where bids are<br />

made to the same value, a written bid has priority<br />

over a bid in the room. Telephoned bids must be<br />

subsequently confirmed in writing. The<br />

Auctioneer will accept no liability whatsoever for<br />

establishing the telephone connection or for the<br />

communication of bids – including those<br />

submitted by e-mail or via the internet. In the<br />

event of a knockdown subject to a proviso, until<br />

clarification with the supplier has been obtained,<br />

the bidder is bound by his bid for a minimum of<br />

six weeks; the same applies where bids lower than<br />

starting price are given and sales of unsold lots<br />

after completion of the auction. Bids such as<br />

“best” also rise by up to ten times the proclaimed<br />

price.<br />

5. Upon knockdown being given, the risk for loss<br />

or damage beyond the control of the auctioneer,<br />

passes to the purchaser. Ownership of the<br />

purchased item only passes to the purchaser<br />

when complete payment has been made to the<br />

auction house.<br />

6. The obligation to accept arises with the<br />

knockdown. The items are to be received<br />

immediately after the auction.If the purchaser<br />

requires shipment within Germany, this shall be<br />

provided at his own expense and, insofar as he is<br />

also a businessman, at his own risk.<br />

7. The sale of auction lots is subject to differential<br />

taxation. The acquisition price forms the basis for<br />

calculating the premium to be paid by the buyer.<br />

A fee of €2 is charged per auction lot. No VAT is<br />

indicated for goods that are subject to differential<br />

taxation.<br />

For buyers in European Union countries:<br />

Consumers pay a standard premium of 23,8%<br />

plus lot fee, postage and insurance.<br />

Traders (as defined in the German VAT Act –<br />

UStG) pay a premium of 23,8% on goods that are<br />

subject to differential taxation (this premium<br />

includes 19% VAT) plus lot fee, postage and<br />

insurance. In the case of goods that are subject to<br />

regular taxation, a premium of 20% is charged,<br />

plus 19% VAT charged on the total sum of<br />

acquisition price, premium, lot fee and postage/<br />

insurance. The movement of goods within the EU<br />

can be exempted from VAT in accordance with<br />

statutory provisions.<br />

For buyers resident in third-party countries<br />

(outside the EU): Buyers pay a 20% premium plus<br />

lot fee, postage and insurance. If Auktionshaus<br />

Ulrich Felzmann GmbH & Co. KG exports the<br />

goods to third-party countries itself, the invoice<br />

will not contain VAT. If the goods are exported by<br />

the buyer him/herself or via a third party, VAT will<br />

be charged and reimbursed on presentation of<br />

the necessary proof of export.In all cases, the<br />

buyer him/herself will assume any import taxes or<br />

customs duties.<br />

A premium of 20% will be charged for gold coins<br />

that are exempt from VAT.<br />

8. The invoiced amount becomes due with the<br />

knockdown and is payable in cash or by means of<br />

a bank certified cheque. Payments by external<br />

purchasers, who have bid in writing or by phone,<br />

become due within one week of the date of<br />

invoice. Where the purchase is made for a third<br />

party, the bidder shall be liable together with the<br />

third party as a joint and several debtor.<br />

9.In the event of a payment delay or refusal to<br />

accept the acquired lots, the buyer shall lose his/<br />

her rights relating to the acquisition price.<br />

Interest of 1.5% per month shall be charged in<br />

the event of a payment delay. In addition, the<br />

auction house can demand, as it sees fit,<br />

fulfilment or, after setting a deadline,<br />

compensation for non-fulfilment. The<br />

compensation can also be calculated in such a<br />

way that the item is auctioned again in a further<br />

auction and the defaulting purchaser is liable for<br />

any reduced proceeds compared with the<br />

previous auction and the special costs for repeat<br />

auctioning, including the fees of the auctioneer.<br />

In the event that sold lots are not paid for in full<br />

within a maximum of three months after the<br />

original auction date, the Auctioneer shall invoice<br />

said purchaser for at least the forgone<br />

auctioneer’s fees as compensation for nonfulfilment.<br />

The onus shall be on the purchaser to<br />

demonstrate that the Auctioneer did not incur any<br />

damages or incurred damages of a significantly<br />

lesser degree than the amount in question.<br />

10. The place of fulfilment and jurisdiction for<br />

transactions between merchants is Düsseldorf.<br />

German law applies; the regulations of the United<br />

Nations Sale of Goods Act do not apply.<br />

11. The afore-mentioned conditions do also apply<br />

to any lot sale after the date of auction. The<br />

regulations of mail order sale do neither apply to<br />

the auction sale nor any sale after the date of<br />

auction. If one of the above mentioned conditions<br />

shall be wholly or partly void, this shall not affect<br />

the validity of the remaining conditions. In case of<br />

any discrepancies between the German and the<br />

English language version of these General<br />

Auction Conditions as well as any lot description<br />

the German language version is relevant.<br />

Status: September 2015<br />

The Auctioneer

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