1. The auction takes place voluntarily and publicly against immediate cash payment in Euro. Swiss Francs and every convertable foreign currency are accepted at current exchange rates or as credited by a major Swiss bank. The day of receipt or credit applies. The auctioneer has the right to withdraw, regroup oder refuse to knock down any lot. In the event of identical bids, the one first received takes precedence; in the event of misunderstandings, the lot is reoffered. Bidding increments are between 5% and 10%. Refer to the chart of minimal increments. During the auction the auctioneer can however accept a different bidding increment.
2. Lots are awarded to the highest bidder which creates an obligation to take delivery. A commission of 20% is added to the purchase price. Bidders for third parties are liable next to the third party as co-debtor. With the purchase the risk transfers to the purchaser.
3. All lots are subject to Swiss value added tax (MwSt). VAT has to be paid for the grand total: knockdown price, plus surcharge, plus postage, plus insurance. The value added tax shall not be applicable if the lots purchased at the auction are shipped abroad by I.B. Investor Basel AG. In additon the VAT will not be applicable if you show the original, legally valid export certificate, meaning the pretax will be refunded. In principle, the lots are handed over upon full payment of the auction invoice. It is solely in the discretion to hand over the lots concurrently with invoice presentation. The lots are insured by the autctioneer and forwarded to the purchaser by mail or by other means; as a rule, as registered or valued matter. Forwarding costs and insurance premiums are at the purchaser's expense.
4. In principle, the lots are handed over upon full payment of the auction invoice. It is solely in the discretion of the auctioneer to hand over the lots with invoice presentation. The lots are privately insured by the auctioneer and forwarded to the purchaser by mail or by other means; as a rule, as registered or valued matter. Forwarding costs and insurance premiums are at the purchaser's expense.
5. In the event of payment delay on the part of the purchaser the auctioneer will charge interest of 12%. The auctioneer is authorized to either sue for payment, rescind the sales transaction and dispose of the lots, particularly to sell them or to reauction them. In any event, the purchaser is liable for the price differential.
6. Until full payment of the entire invoice is rendered, title to all purchased lots remains with the consignor. Prior to that time, they may neither be resold, pledged nor otherwise transfered to a third party by the purchaser. Offset pleas of any type are precluded. Extension of time for payment is granted upon request, supported by appropriate references. Such special arrangements must be agreed upon prior to the auction and must be in written form.
7. The lots on auction have been described conscientiously and with greatest care. Valuable stamps bear the mark of competent experts or are accompanied by certificates. In the case of photographed stamps, the image is determinative as to margins, perforations, cancellations, etc.
8. The purchaser acknowledges the certificates (expertizations) and signatures mentioned in the lot descriptions as binding, particularly with regard to genuineness and quality of the lots as well as the completeness of contents of the expertization certificates. I.B. Investor Basel AG will be liable for the authenticity of uncertified lots for a period of one year from the point of time of knock-down. Warranty for collections and lots with more than five stamps or cover are precluded.
9. Complaints must be received within 30 days after knock-down. Changes of any kind on the lots mean the complaint will be turned down. All claims are void if the purchaser is in arrears with payment of the purchase price or surcharge.
10. All lots may be inspected during the auction. See chapter "Viewing".
11. All bids are executed in strict conformity with the principal's interests, although without recourse.
12. Place of performance and exclusive court venue is Basel-Stadt.
13. The auction is exclusively subject to Swiss law.
14. Every bidder acknowledges these Terms of Auction Sale, the original German text applies.
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