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Terms of Auction

The following terms and conditions of the auction are authoritative even without written acceptance when sending in bids, placing fixed price orders or personal bids at the auction.

1. The auction is public, on a voluntary basis and with the exception of own lots in other names and for the account of others, against immediate cash payment in EUR.

2. The bidding increments are as follows:

up to € 50.00€ 2.00
up to € 200.00€ 5.00
up to € 500.00€ 10.00
up to € 1,000.00€ 20.00
up to € 2,000.00€ 50.00
up to € 5,000.00€ 100.00
up to € 10,000.00€ 200.00
above€ 500.00

Surcharges for all buyers: 20% commission on the hammer price
+ € 2.00 € lot fee per lot, postage and insurance charged at cost
+ legal VAT on all the charges above (also applies to foreign customers)

3. A lot will be awarded to the highest bidder if there is no higher bid after announcing the price three times. The auctioneer, as the representative of the commissioner, may reserve the right to award the lot or refuse awarding the lot (regrouping of lots or withdrawal reserved). In the case of a misunderstanding the auctioneer shall be entitled to re-offer a lot. If two equal bids are present, the winner will be drawn.

4. Placing a bid obligates to purchase. Ownership of purchased lots will be transferred only after the full sum is paid. Risks will be transferred immediately after the knockdown. Shipping of purchased lots is for the account and the risk of the buyer. The lots can only be handed over against cash or pre-payment. A claim for delivery of purchased lots is valid only after payment of the auction invoice.

5. Payments and commissions are due immediately for floor bidders, and upon delivery of the invoice for other bidders. Bidding agents acting for third parties are fully liable. All amounts not received by the auctioneer within 10 days after the auction, respectively the delivery of the auction invoice, are subject to a late fee of 2%. In addition, interest on arrears will be charged at the rate of 1% per month or part thereof. The auctioneer is entitled to dispose of the lots freely after eight additional days. In the event of a shortfall in proceeds, the first purchaser shall be liable for the loss of profit, and shall also bear any costs incurred; on the other hand, they shall not be entitled to any excess proceeds. The auctioneer may collect and sue for purchase money, purchase money arrears as well as ancillary services in his own name. The registered office of the auctioneer’s business enterprise shall be the exclusive place of jurisdiction for all parties involved.

6. For photographed stamps, margin, perforation, centering, postmark, etc. are determined by the image. Claims of any kind must be made to the auctioneer within eight days after transfer or delivery of the item(s) in question, if returns during the auction are not possible. Lots and stamps must remain untouched, i.e. their condition must not be altered. Complaints are excluded, if lots or stamps diverge from the original condition. Such detrimental changes include, but are not limited to detachment, water or chemical treatment, etc. The auctioneer may demand certificates by two different recognized certifiers at the expense of the buyer. Quality remarks are subject to individual opinion and cannot be a reason for complaints. The complaint period shall be deemed to have been exceeded if the lots are not accepted in due time, i.e. no later than 14 days after the auction. In the case of lots containing three or more stamps, complaints due to minor errors of individual pieces cannot be considered. Stamps with error description cannot be complained about because of other errors. Larger lots may contain used and unused stamps. Complaints for collections and bulk lots are excluded.

Catalog calculations are always considered approximate. If an appraisal by a certifier is desired, it is necessary to request an extension of the claim period so that these stamps are not yet settled with the consignors. If we do not receive such a decision, we will not be able to accept subsequent claims of any kind in the future. All claims will be settled for the account of the consignors. After the payment of the proceeds to the consignor, the buyer can make any claims only against the consignor.

The above auction conditions apply mutatis mutandis to all transactions concluded outside the auction with auction stamps. In the case of acknowledged complaints, the buyer is entitled to reimbursement of the purchase price and commission, further claims of the buyer are excluded. Claims for damages against the auctioneer, be it from delay, impossibility of performance, positive breach of contract, culpa in contrahendo or tort, are excluded, unless the damage was caused by intentional or grossly negligent acts.

7. In case of justified complaints, the consignor and the successful bidder have the opportunity to obtain the name and address of the contracting party from the auctioneer after the conclusion of the auction. Consignments on approval are made for the account and at the risk of the consignee against reimbursement of postage and return by return post. In case of untimely return, the recipient is liable for the full hammer price + percent.

8. The descriptions of the lots are made with the utmost care and to the best of our knowledge, but they do not represent guaranteed properties.

9. Written orders will be executed without extra charge, best possible, but without guarantee. The stated amount will only be applied if counterbid or equal minimum bid is received. Highest bid orders such as “best” (= up to 3 times the call) or “unconditional” have no unconditional claim to knockdown.

10. The auctioneer reserves the right, without giving reasons, to exclude persons from the auction, in particular those who trade, exchange or otherwise make themselves conspicuous in a disruptive manner during the auction, as well as bidders who have not accepted lots.

11. Place of Jurisdiction is Munich, Germany. The German version of these terms is the sole authoritative version.