Terms and Conditions for our Floor Auction Sales and eLive Premium Auctions
§ 1 Scope
We auction objects on commission in our own name, but for the account of the submitting party whose identity will not be disclosed. Participation in any auction shall be deemed acceptance of these Auction Terms and Conditions.
§ 2 Establishment of Contract
After the highest bid has been called out three times, this bid is deemed to be accepted, and the bidder is under the obligation to accept the goods without delay. At our reasonable discretion, we are entitled to refuse acceptance of a bid or accept it only on special terms. If several bidders make a bid in the same amount, we are entitled to choose to accept a bid from any one of these at our reasonable discretion. The auctioneer is authorized to combine or separate numbered lots if there are important reasons, or to call them up in another order than listed in the catalogue, or to withdraw them. If a bid is conditionally accepted, its acceptance expires at the end of 4 weeks from the original acceptance date, unless we have notified the bidder of unconditional acceptance of the bid within this period.
Title to any goods shall only pass to the purchaser upon payment in full. Unless otherwise agreed, the purchase price shall be paid immediately by any purchaser present, at the latest within 20 days of receipt of an invoice in the case of bids submitted in writing or by telephone. Interest will be charged on late payments at a rate of 1 % per month.
Should the buyer seriously and finally refuse to accept the goods, we shall be entitled to withdraw from the purchase contract and demand compensation; we shall then be entitled to re-auction the goods and cover our loss in the same manner as in the event of late payment by the buyer, without the latter being entitled to any additional proceeds from the re-auction. Shipment will be effected as soon as reasonably possible after the auction, or as agreed with the buyer, and at his cost and risk. For shipments abroad, an export license which is in accordance to the German Cultural Property Law may be necessary. We cannot be held liable for delays in delivery caused by obtaining the export license or in case that export license will not be approved. It also has no effect on the buyer’s acceptance of the goods and payment in time.
The Buyer is obligated to provide all necessary identification documents (passports, excerpts from commercial register, etc.) required to comply with the Anti Money Laundering (AML) legislation.
§ 3 Bids, Floor Auction
Wherever possible, we shall take into consideration written or telephone or internet bids to the best of our ability and shall treat them in the same manner as auction room bids. We can only accept orders from collectors not known to us if a deposit is lodged, or if references are quoted. Written bids will only be taken into consideration if received 24 hours before commencement of the auction at the latest; telephone bidders must lodge their application to participate two working days before the auction at the latest.
We shall be entitled to exceed any limits by 3 to 5 %. Bids below 80 % of the estimated price will not be taken into consideration.
§ 4 Bids, eLive Premium Auction (Online Auction)
Every submission by a customer within the scope of an eLive Premium Auction constitutes a binding offer to enter into a purchase contract. This offer shall remain in force until a higher bid is received, or until the eLive Auction is closed without acceptance of any bid.
Offers may be made before an online auction through the website www.elive-auction.de, as soon as access to the online auction has been facilitated. During the auction, “live bidding” will continue until final virtual acceptance.
In order to be able to bid, the bidder will require access to myKünker, which can be established through www.kuenker.de. For technical reasons, new registrations or password changes are not possible after the start of the auction. Since we require a security deposit or references from collectors not known to us, new registrations must be completed at least 48 hours before the start of the auction through www.kuenker.de.
In addition, we shall allow for written bids (via letter, e-mail, fax or telephone) to the best of our ability. Written bids cannot be accepted later than 24 hours before the start of an auction.
During processing of written bids, any identical bid received via www.elive-auction.de will be given priority. In the event of receipt of several equal written bids, the fi rst one received will be accepted.
We shall be entitled to exceed any limits by 3 to 5 % in cases of bids submitted in writing. Bids below 100 % of the estimated price will not be taken into consideration in the eLive Premium Auction.
§ 5 Transmission of Bids
Instructions without a quoted limit are not dealt with unconditionally. Written, telephonic and internet bids shall be executed by us without any additional commission payment. Such bids must state the object with catalogue number and bid limit, net of all premiums and taxes and shall be binding. Unclear or inaccurate instructions are the bidder’s responsibility. We do not accept any liability for such bids, in particular no liability for occurance and persistance of transmission errors, nor for any failure or delays caused by maintenance and restoration of any servers, or breakdowns, or problems occurring during internet communication, due to force majeure and any other disruptions occurring for reasons beyond our control. This does not apply in cases where we are accused of gross negligence or malicious action.
§ 6 Bidding Scale, Floor Auction
The minimum bid scale is set out below:
| up to | € 100.00 | € 5.00 |
| up to | € 200.00 | € 10.00 |
| up to | € 500.00 | € 20.00 |
| up to | € 1,000.00 | € 50.00 |
| up to | € 2,000.00 | € 100.00 |
| up to | € 5,000.00 | € 200.00 |
| up to | € 10,000.00 | € 500.00 |
| up to | € 20,000.00 | € 1,000.00 |
| up to | € 50,000.00 | € 2,000.00 |
| from | € 50,000.00 | € 5,000.00 (10%) |
§ 7 Bids, eLive Premium Auction (Online Auction)
The minimum bid scale for online-bidding is set out below:
| up to | € 50.00 | € 2.00 |
| up to | € 200.00 | € 5.00 |
| up to | € 500.00 | € 10.00 |
| up to | € 1,000.00 | € 25.00 |
| up to | € 2,000.00 | € 50.00 |
| up to | € 5,000.00 | € 100.00 |
| up to | € 10,000.00 | € 250.00 |
| up to | € 20,000.00 | € 500.00 |
| up to | € 50,000.00 | € 1,000.00 |
| from | € 50,000.00 | € 2,500.00 |
§ 8 Premium and sales tax
The hammer price forms the basis for calculating the premium to be paid by the buyer.
For goods exempt from VAT, the premium is a standard 20%. For goods subject to margin scheme taxation and delivery within the EU, the premium is 25%, including statutory VAT.
For goods subject to the regular taxation scheme and delivery within the EU, the premium is 20% plus VAT on the total amount (hammer price + premium) in the respective EU member state.
For buyers, who are residents of non-EU countries, the following rules apply: The premium shall be 20 % (where the goods are exported to a non-EU country by the buyer himself or by a third party, the statutory VAT will be charged but reimbursed on presentation of the statutory evidence of export. If we ourselves effect the export to non-EU countries, no VAT will be charged).
Institutional buyers (registered coin dealers) from an EU member state with a valid VAT registration number can also purchase the goods as an intra-Community delivery (a confirmation of arrival is required upon collection).
We reserve the right not to ship to sanctioned or high-risk countries. Please contact our customer service department if you have any questions.
Any taxes (e.g., sales taxes, import sales taxes, etc.) and customs duties incurred abroad shall be borne by the buyer in all cases. The shipping costs will be charged to the buyer based on the costs incurred.
