Chaponniere & Firmenich SA

1. Preamble

The Auction is subject to Switzerland regulations.

By making a bid, a bidder acknowledges full acceptance of these conditions and will be bound by them.

2. Descriptions

The descriptions and the grading of the material have been executed with great care. The illustrations are part of the description and in case of doubt, the text is authoritative. All written conditions are expressed accordingly to the American grading scale used by third party grading companies like NGC or PCGS. The direction of the auction has done its best to estimate the possible grade that each coin could receive if it were to be certified, however, we do not guarantee in any way a result equivalent to our descriptions in a third-party grading company. Only coins described in French benefit from a mention related to the European grading system. The catalog published on the Internet is only informative. Only the printed version shall prevail. The lots may be viewed in Geneva by appointment and the day of the auction. No claims will be accepted for any divergence of views on the state of conservation of a lot.

3. Bidding

Bidding can be done by absentee bid, by telephone, in the room, or by internet.

In order to bid in this auction, references from 3 auction houses are requested. If it is not the case, a deposit of CHF 50’000.- (fifty thousand Swiss Francs) will be requested as a guarantee (bank accounts are available on page 1), along with a valid identity document.

Absentee bids are executed with care by Chaponnière & Firmenich SA, without any extra fees. However, the direction of the auction may only guarantee their registration if they are received at least 24 hours before the sale and that the guarantees were approved. Commission bids of less than 100% of the starting price will not be  considered. If several identical commission bids are received, the first bid received prevails.

Requests for telephone bids are possible only for lots with a minimum starting price of CHF 2000 and must be announced at least 48 hours before the start of the auction in order to control the references.

To bid in the auction room, the customer must register at the entrance desk, providing a valid ID and requested references. He will then receive a bidding card of which he’s responsible. The direction of the auction may deny access to the auction room to anyone without having to explain why.

To bid on the internet, new clients must register 2 days before the auction date, so that the direction of the auction will be able to verify the given references or ask for a deposit.

The management of the sale is also entitled to refuse bids without explaining the reasons. The direction of the auction may deviate from the order provided in the catalog and group lot numbers. Lots of more than one coin cannot be separated. The direction of the auction reserves the right to decide the re-auction of a lot in case of misunderstanding.

The award comes at the third call of the highest bid and requires the bidder to accept the lot subject of the auction. The bidder present at the sale shall be solely responsible for the purchases made, even if acting as an agent for a third party.

4. Fees

The sale is for cash in Swiss francs. The hammer price is increased by a buyer premium of 22.5 %. For internet live bidders, there will be an additional fee of 3,5 %; and 1,5 % is added for purchases by phone.

The Swiss VAT (7,7%) is not applied on gold coins (except the 1 and 4 Ducats from Austria and the shooting 100 Fr. from Switzerland 1934 and 1939), all the other items are subject to the VAT. The VAT is calculated on the hammer price plus the fees. If the lots are to be shipped outside of Switzerland, the Swiss VAT is not applied. In order to get the VAT reimbursed, a valid export proof has to be provided.

5. Shipping and insurance fees
 

Shipping and insurance fees are at the charge of the buyer. They are added on the invoice. All taxes levied abroad such as customs duties and other taxes are the sole responsibility of the buyer. Compliance with the requirements of customs, foreign exchange etc., valid abroad, are the buyer’s responsibility. The direction of the auction shall take no responsibility for any consequences resulting from the non-compliance with these requirements. Insurance regulations require that losses or damage in shipment be reported to us immediately.

6. Payment

Payment is due in full, and can be realized in Swiss Franc (CHF), Euros (EUR) or US Dollars (USD), within 15 days following the receipt of the invoice, by wire transfer or in cash. All bank fees are at the charge of the buyer.

We DO NOT accept Paypal payments. Late payments will incur a monthly default interest by 1%. If the amount of purchase is not paid within the period agreed, Chaponnière & Firmenich SA may cancel the purchase. Ownership of the lots shall not pass until payment in full of the invoice is made.

7. Claims

The authenticity of all the lots in this sale is guaranteed. Claims from bidders who are present in the auction room will not be accepted as they have the opportunity to see the lots by themselves. Customers who collect the goods personally must assert their claims upon receipt, and absentee bidders must file their claims within 8 days upon receiving the goods. No claims will be accepted after this date, even in the case where an expert would conclude the non-authenticity of the lot purchased at the sale. The claimed lot must be in the same condition as delivered when returned for refund. The warranty for the certified coins (PCGS, NGC) expires if the holders were opened. Multiple lots are excluded from warranty, as well as lots with the mention “sold as is, no return”. All financial claims are excluded.

Any and all disputes shall be subject to the exclusive jurisdiction of the Geneva courts, and the Geneva Public Auction Act (LVVE), except for those to recover payment for lots sold here under which may be pursued wherever the buyers may be found. The municipal officer, the city and the state have no liability whatsoever in this sale.

Under the Ministry of Maître Michel Jaquiery.