Conditions of sale
We auction goods as commission agents in our own name and for the account of not named consignors. Participation in the auction shall be deemed express acknowledgement of the Terms and Conditions of Auction stated here.
The auction takes place with cash payment being due to the authorized representatives of Dr. Busso Peus Nachf. by bidders present at the sale. For written bids payment is due 10 days after receipt of the respective invoice.
The hammer price is the basis for the calculation of the buyer’s surcharge. For buyers from EEC countries the following applies: for consumers there is a standard surcharge of 23 % (relevant VAT already included). For traders according to the Value Added Tax Act the surcharge is 23 % (relevant VAT already included) for goods delivered by difference taxation; for goods delivered by standard taxation the surcharge is 20 % plus the relevant VAT on the entire amount of hammer price and surcharge. Export deliveries to EEC countries shall be free of VAT upon presentation of the required legal documents.
For buyers from abroad (no EEC countries) the following applies: there is a standard surcharge of 20 %. As far those buyers export the good in person or by third persons, the relevant VAT will be charged but refunded upon presentation of a valid legal export certificate. If we export these goods the relevant VAT will not be charged.
For gold coins, which are not subject to the legal VAT, the surcharge is 15 % of the hammer price.
Shipment will be at the buyer’s respectively recipient’s risk and cost. Risk of loss and damage is on the buyer. Purchases by foreign customers are subject to the customs regulations of their countries; the auctioneer is in no case liable for any consequences due to non-compliance with such regulations. The auctioneer will take care of consignment formalities.
The adjudication is made to the highest bid called three times and is binding. In case of dispute the number will be called out once more. The auctioneer is entitled to join, separate or withdraw numbers. The numbers will not be called out of sequence.
Minimum offers and payment
up to Euro 100.--
up to Euro 250.--
up to Euro 500.--
up to Euro 1000.--
up to Euro 2500.--
up to Euro 5000.--
up to Euro 10000.--
Should payment not be made to the auctioneer forthwith or should the adjudicated property be refused, such property will not be handed over to the purchaser. He rather loses his rights resulting from the adjudication and the property can be put up for auction again at his own expense. The purchaser is liable for any loss but not entitled to claim any excess proceeds.
Written orders will be carried out conscientiously without commission. Orders from customers who have not established credit with Dr. Busso Peus Nachf. will only be carried out upon payment of a deposit or by giving satisfactory references. We kindly ask to send in orders well in time. When identical bids are received be Peus Nachf. for a lot, preference is given to the first bid received as determined by the auctioneer.
Unlimited bids have no right to unqualified execution. We reserve the right to increase any written bid by 2-3% if necessary. Participation in the sale via telephone is only granted in the case of pieces with an estimate of € 1000 or higher. However, the application for telephone bidding stands at least for a bid of the amount of the estimate in every case.
Further conditions of sale
The purchased property retains the vendor’s title until is has been paid in full.
The descriptions in the catalogue have been conscientiously performed. Printed prices are estimates. Any complaints must be made in writing within 8 days of receipt of the goods. Forged or falsified items , which have not been identified as such in the catalogue, can be returned and the purchase price will be refunded. Justified claims will be limited to the net invoice price of the delivery in question. In other respects the auctioneer and his staff will only be liable when guilty of intent or gross negligence.
Multiple lots can not be returned except for forgeries. Since the number of coins contained in a multiple lot is stated as an approximate one, the auctioneer does not warrant for deviations in that number .
Place of venue is for both parties Frankfurt am Main, Federal Republic of Germany. Any dispute or controversy arising from or in conjunction with the auction shall be finally decided by the courts of Frankfurt am Main.
For reason of cost catalogues will be ceased to be forwarded when the customer has neither taken part in an auction nor paid the catalogue charge of Euro 15,-- for a period of 18 months.
Unless otherwise specified the general auction regulations as valid in the federal Republic of Germany are applicable.
These conditions are available in German and English, only the German Version being definitive in the event of any dispute.
Dr. Busso Peus Nachf.