Conditions of SaleThe currency of the auction is the Swiss franc (CHF)
Participation in any David Feldman S.A. auction means acceptance in full of the following
conditions as well as any rights and obligations arising therefrom. These same conditions
also apply to all transactions in auction lots taking place outside the realm of the auctions.
DAVID FELDMAN S.A., organiser of the auctions, acts as an agent only and is not liable in
any way whatsoever for any default(s) of purchaser(s) and/or vendor(s).
1. The auction lots are offered
1.1 As presented in the relative auction catalogue and/or through the David Feldman
S.A. website. Lots are meticulously described and with the greatest care, however
without responsibility. Photographs count as part of the description with regard to
the margins, perforation, centering, postmarks and all other visible attributes. The
descriptions of the lots mention if the items are signed by recognised experts and/or
accompanied by expert certificates.
1.2 As viewed in person: before and during auction sales, persons or their agents may
examine lots at our offices or at the auction location, and must confirm their auction
invitation before viewing. Persons or their agents attending a Live Room auction by invitation
and/or who have viewed lots before an auction are understood to have examined all lots
which they purchase and accept them as they are at the moment of the knocking-down and
not necessarily as described.
2. Auction bids
2.1 The auction bid steps for all auctions are as follows:
CHF 50 - 100 CHF 5 CHF 2000 - 5000 CHF 200
CHF 100 - 200 CHF 10 CHF 5000 - 10000 CHF 500
CHF 200 - 500 CHF 20 CHF 10000 - 20000 CHF 1000
CHF 500 - 1000 CHF 50 CHF 20000 - 50000 CHF 2000
CHF 1000 - 2000 CHF100 CHF 50000 - 100000 CHF 5000
Bids between these steps will be adjusted accordingly to the next highest bid step. The
bidder is bound by his offer until a higher bid has been validly accepted.
2.2 DAVID FELDMAN S.A. has full discretion to refuse any bidding, to divide any lot or lots,
to combine any two or more lots and to withdraw any lot or lots from the sale without in any
case giving any reason. DAVID FELDMAN
S.A. may also bid on behalf of vendors in cases
where reserve prices have been fixed. In these cases, the vendor is treated as a buyer
and the auctioneer shall bid on his behalf up to reserve prices. If the reserve price fixed by
the vendor is not reached, the auctioneer passes to the next lot by a simple knock of the
2.3 Bid orders received by DAVID FELDMAN S.A. including via its website before the relative
auctions have priority over room bids in the case of Live Room auctions. Clients giving
bidding instructions to DAVID FELDMAN S.A. may make alternative offers and/or limit
the total of their expenditure in advance. Bids marked “BUY” are considered as up to ten
times the quoted estimate price where such exists. Bids made in other currencies than the
advertised currency of the auction will be converted into that currency
at the market rate of
the day of receipt by DAVID FELDMAN S.A. Bids are standing and hold good for at least 60
days from the auction period. DAVID FELDMAN S.A. reserves the right to invoice bidders up
to the end of the 60 day period, payment being due immediately.
3. The auction
3.1 Live Room auctions are held under the control of the relative supervising authority at its
location. The relative supervising authority has no liability. The auction will be held under the
ministry of a “huissier judiciaire” of the Canton and Republic of Geneva. The currency of the
auction is Swiss Francs (CHF).
3.2 Prerogatives of David Feldman S.A.: DAVID FELDMAN S.A. may withdraw, group
differently, divide or refuse to knock down any lot. DAVID FELDMAN S.A. reserves the right to
refuse any bid orders and/or for Live Room auctions, refuse admittance to the auction room,
at its discretion, to anybody whomsoever. DAVID FELDMAN S.A. cannot be held responsible
for any physical accident that may occur on the premises where auctions take place.
3.3 Bidders’ representatives and auction agents: any person bidding for the account of a
third party is fully liable for any obligation arising from such bidding. This responsibility is
notably applicable for the verification of the condition and for the payment of purchased lots.
3.4 Winning Bids: each lot is sold on behalf of the respective owner to the highest bidder
who becomes the buyer at one bid step over the next highest bid step; this is the knockdown
price. In addition to the knock-down price, the buyer pays a premium of 20% to cover
commission, charges and expenses including lotting fees, packing and export formalities,
etc. whether all incurred in particular cases or not. Cost of postage and insurance for all lots
is additional and will be invoiced separate from the buyer’s premium. On the knock of the
hammer, liability for the lots passes to the bidder whose bids have been accepted. The lots
are delivered to the buyer when the total sale price (knock-down price plus all fees including
postage or shipping) have been paid in full.
VAT (Sales Tax) - Notes for guidance concerning auctions for which the lots are located in
Switzerland: buyers domiciled abroad are not liable for this tax once the goods are duly
exported from Switzerland. DAVID FELDMAN S.A. are pleased to arrange this export;
alternatively, clients may make their own arrangements and furnish DAVID FELDMAN S.A. with
proof of export, stamped by Swiss customs. Any purchases by buyers who wish to keep their
purchases in Switzerland will be liable to VAT at 7.7% of the purchase price in Swiss Francs.
3.5 Payment: Sale price plus commission and postage or shipping (if any) are due for
immediate payment as invoiced against delivery of the lots. Payment in other currencies is
accepted at the rates of exchange of the day as quoted by a major Swiss bank. The bidders
who are successful
with whom it has been expressly agreed that they pay after the sale under
special conditions, are due to pay the sale price and the commission according to those
terms. In these cases, DAVID FELDMAN S.A. keeps the relevant lots which are delivered to the
buyers on full settlement of their account. Delivery of the purchased lots by post, courier or any
other means if instructed by the buyer including cost of normal transit insurance cover is at the
expense of the buyer. Title or ownership of the purchased lots, delivered or not, remains with
the auctioneer on behalf of the seller until payment has been made in full.
3.6 Special extended payment facility: DAVID FELDMAN S.A. may offer a special extended
payment facility for buyers. In these cases, the buyer may choose to pay a minimum of 25%
of the total invoice immediately, and the balance over a maximum period of 6 months, paying
an equal instalment at the end of each month. Interest plus charges of 1% is debited to the
buyer’s account at the end of each month from the auction date. When the special extended
payment facility has been granted, the buyer understands that any claims regarding his
purchases must be made within 30 days of the auction sale date, even though the lots may
be held by DAVID FELDMAN S.A. awaiting full settlement of the account. Until delivery, all
lots may be examined by their respective buyers at the offices of DAVID FELDMAN S.A.
3.7 Pledge: until full settlement of the account, the buyer grants to DAVID FELDMAN
S.A. a pledge on any and all properties held by DAVID FELDMAN S.A., acquired prior to,
during and/or after any auction. This pledge secures the repayment of any amount due in
principals, interests, commissions, costs and other possible fees. DAVID FELDMAN S.A.
is entitled, but not obliged, to realise freely the pledge assets without further formalities
and without previous notice if the buyer is in default with the payment
of his debts or with
the fulfilment of any other obligation hereunder. For this purpose, DAVID FELDMAN S.A. is
not bound to comply with the formalities of the Federal Law dealing with actions for debt
and bankruptcy proceedings; in addition, DAVID FELDMAN S.A. may choose to institute or
go on with the usual proceedings without having beforehand sold the pledged goods and
without having moreover given them up.
4.1 Extent of the guarantee: subject to paragraph 4.3 below, the authenticity of all philatelic
items sold in the auction is guaranteed for a period of 30 days from the auction date, with the
express exclusion of any other fault(s). Any reclamation regarding authenticity must come
to the notice of DAVID FELDMAN S.A. on the delivery of the lots but at the latest within 30
days from that date. Before delivery, which may take place after the 30 days period, the lots
purchased may be examined
at the Geneva offices of DAVID FELDMAN S.A. The buyer whose
reclamation is made after 30 days from the auction date loses all rights to the guarantee. Such
reclamation will not be valid by DAVID FELDMAN S.A.. If an extension of the period
in order to substantiate the claim with an expertise, a request for such extension must be
made to DAVID FELDMAN S.A. within 30 days of the auction date. No request for extension
will be considered beyond this 30 days period. An extention will expire 3 months after the date
of the auction; the results of the expertise for which an extension was agreed must come to
the notice of DAVID FELDMAN S.A. within that period. No further extension of the period will
be considered without the express written agreement of DAVID FELDMAN S.A. Only claims,
results or other details which are made within the agreed periods will be valid.
4.2 Expertise and counter-expertise: should the authenticity of a lot be questioned, the
buyer is obliged to provide an expertise or counter-expertise from a prominent expert in
the field, justifying the claim. If a stamp is found by a recognised
responsibility for errors, to have been forged, he may mark it accordingly. Consequently, the
marking “FALSCH” (forged) is not considered an alteration. In the case of such reclamation,
DAVID FELDMAN S.A. reserves the right to request, at its own discretion, one or more
further expertise(s). All expertise and relative charges accrue to the vendor’s account in the
case of a justified claim, or to the buyer’s account if the claim is not justified. In the case of
a justified claim, the lot is taken back and the knock-down price plus the commission are
refunded to the buyer. In the case of delayed payment due to expertise agreed by David
Feldman S.A., interest is charged at 50% of the standard rate for all cleared lots. If David
Feldman S.A. has not agreed, then full interest is due.
4.3 Exclusions: lots described as collections, accumulations, selections, groups and those
containing duplicates cannot be the subject of any claim. Claims concerning lots described
as a set or groups of sets containing more than one stamp, can only be considered under
the terms of paragraph 4.1 above if they relate to less than one third of the total value of the
lot. Lots which have been examined by the buyer or his agent, lots described as having
defects or faults cannot be subjected to a claim regarding defects or faults. lllustrated lots
cannot be subjected to a claim because of perforations, centering, margins or other factors
shown in the illustrations.
4.4 Late Payment: if payment of the knock-down price plus commission due by the buyer
is not made within 30 days of the date of the auction, DAVID FELDMAN S.A. reserves the
right to cancel the sale and dispose of the lot(s) elsewhere and/or to make a recourse to any
legal proceedings in order to obtain payment of the amounts due as well as for any incurred
damages and losses and any legal expenses. A charge on overdue payment of at least 5%
for the first month and 2% per month afterwards
plus expenses incurred is chargeable on
any outstanding amount after 30 days of the date of the auction. The buyer who is in default
in any way whatsoever has no right of claim under any circumstances.
4.5 Exceptionally, the knock-down price will be reduced to the lowest winning bid where it is
shown that the exact same buyer has inadvertently increased the price by using more than
one medium of bidding on the same lot.
5. Applicable law and jurisdiction
Unless otherwise stated, all auctions as well as any rights and obligations arising from them
shall be governed exclusively by Swiss law. Any legal action or proceeding with respect to
the auctions shall be submitted to the exclusive jurisdiction of the courts of Geneva, subject
to appeal to the Swiss Federal Court in Lausanne. In every case, DAVID FELDMAN S.A. shall
also be entitled, at its discretion, to sue any buyer in default at his place of residence; in such
case, Swiss law shall remain applicable.
6. All Transactions:
these Conditions of Sale apply to all transactions of every kind including those outside the
auctions, with David Feldman SA.
Note: These Conditions of sale are translated from French, the French version shall be the
official version and shall prevail over all other translations.
(Public Auction-EN-CHF Rev.-Dan-3/2018) ×
Zuschlag (ohne Gewähr)
Ende der Gebotsabgabe:
Samstag 17.02.2018, 09:00 CET
Aktuelle Uhrzeit (MET): 25.02.2018 - 16:32