Terms of Auction
1 The auction will be conducted in Swiss francs, against immediate cash payment. Foreign currencies will be accepted at current rates of exchange or as credited by cheque drawn on a major Swiss bank. The date of receipt or of crediting shall be valid.
2 Each lot is awarded to the highest bidder. In addition to the bidding price a commission of 20 % is invoiced. Furthermore, bids are subject to the Swiss value added tax of 8% and this percentage is levied on all final invoice amounts (bidding price, commission, postal and insurance charges) except for lots directly dispatched abroad by Chiani auctions. To buyers resident outside Switzerland who are personally exporting the lots purchased the Swiss value added tax is refunded if they submit a valid export declaration legally stamped by the Swiss customs authorities. If payment is overdue, a surcharge of 5% will be charged plus interest at the rate of 1% per month.
3 The knock-down price obliges purchase of the goods. Beneficial ownership of all lots knocked down shall be retained and is only transferred to the Buyer on payment of the total purchase price, the risk however commences with the knock-down. Bidders present at the auctions are personally liable for misuse of their bidder-card by third parties.
4 The Auctioneer reserves the right to deviate from the sequence, to withdraw, regroup, divide or refuse to knock down any lot. In the event of identical bids, the first one received will take precedence and in case of a misunderstanding the lot shall be auctioned again.
5 The lots are described conscientiously and with great care. The descriptions do not however constitute any particular guarantee. Any and all claims are to be made in writing at the latest three days after receipt of the goods. The lots in dispute must be returned unchanged and in their original condition of take-away. Complaints will be refused if the stamps have been altered.
6 The Auctioneer is personally liable for the authenticity of all single lots sold for a period of five years subsequent to the knock-down. In the event of a complaint concerning authenticity proof of any forgery must be furnished by means of a certificate from a competent, recognized expert for the respective specialty area. The cost of a re-expertise shall be borne by the Buyer. However, in the event of a justified complaint, such costs shall be borne by the Seller. In the case of expertised stamps, the Buyer shall accept as binding the certificates and certification marks referred to in the lot descriptions, in particular also with regard to the authenticity and the quality of the lots; the Buyer shall likewise accept the integrity of the certificates with regard to their content. Any other liability on the part of the Auctioneer is excluded. Extensions by a prospective buyer must be received by the Auctioneer in writing at least five days prior to the day of the auction. This written notice must give the reason why an extension is required and the expert from whom an opinion is to be sought (subject to the Auctioneer’s consent). All extensions must be cleared within 20 days of the auction, subsequent to which the right of return is forfeited.
7 For photographed stamps the reproduction is the criteria for margins, perforations and cancellations etc. Collections, accumulations and lots which comprise three or more stamps and are not separately described, cannot be subject to complaints, i.e. any liability is excluded. A Buyer who is in arrears with payment shall have no right of complaint. All lots may be examined before and during the auction at times stated in the catalogue. On request mail bidders will receive precise information regarding content and condition of the lot as well as photocopies of certificates.
8 The lots will be handed over after full payment of the auction invoice. The privately insured lots are sent to the Buyer by the Auctioneer, by mail or by other means of dispatch, at the expense of the Seller. Compliance with foreign customs and currency regulations is the Buyer’s responsibility.
9 Selling price plus commission are to be paid immediately by personal bidders. For written bids payment is due five days after receipt of pre-invoice. Customers personally known to us will receive the lots together with the invoice. An extension of the date of payment can be arranged upon written request with appropriate references. Such special arrangements have to be agreed upon in writing, prior to the auction. Bidders on behalf of third parties are jointly and severally liable debtors. Upon delay of payment the Auctioneer reserves the right to sue for payment or to cancel the sale and to dispose of the lots elsewhere, without notifying the Buyer. Any price difference resulting therefrom will be charged to the Buyer. In such a case, the Auctioneer is not obliged to deliver, however the Buyer is obliged to accept the purchase.
10 Written orders are handled by the auction firm conscientiously and in the bidder’s best interests, but without liability. By handing in a bid or purchase order all terms of auction are accepted unconditionally. ‘Bids at best’ will be considered up to a multiple of ten times the starting price. The Auctioneer reserves the right to exclude persons from the auction without giving a reason.
11 Claims for damages against the Auctioneer for delay, non-performance, positive infringement of contract, fault in breach of contract are not permissible unless the damage was caused deliberately or through gross negligence.
12 The auction is held under the supervision of the town council of Gossau as the cooperating official government authority. The participating head of council, the council and the country refuse any liability.
13 In the event of a dispute the Law Courts of Gossau SG shall have jurisdiction. The Auctioneer however reserves the right to sue a debtor at his place of residence. The auction is solely subject to Swiss law. The German original text shall be authoritative in the interpretation of the present Terms of Auction.
