The following conditions apply

These conditions are fully recognized by submitting a bid and by registering on the website
lugdunum.auex.de

Any written, verbal, phone or electronic bid (for example on www.sixbid.com and www.numisbids.com)
implies the acceptance in full of this terms and conditions.

Conditions in detail

Bids and deadlines

1.

The auction takes place in the name of Lugdunum GmbH for the account of consignors, who remain anonymous.

2.

Lugdunum GmbH (hereinafter referred to as “Auctioneer”) requests to any bidder that is unknown to her to prove its identity prior to the auction.

3.

The Auctioneer treats written and phone bids diligently, however without liability. Written bids and bids submitted electronically can only be considered if they are received not later than 24 hours prior to the auction or 12 hours for bids submitted via Internet platforms like www.sixbid.com or www.numisbids.com.

Technical requirements

4.

Lugdunum GmbH and the operators of the live-bidding-platforms provided shall endeavour to guarantee the availability and bug-free operation of these platforms. It is in the Bidder’s responsibility to obtain information in time concerning the technical prerequisites and requirements of these platforms and to implement any installations and adjustments that may be necessary. Lugdunum GmbH refuses any liability for losses or other claims resulting from interruptions or delays resulting from technical faults or defects.

Description of lot, start prices and estimates

5.

Only the descriptions of each respective lot number on the website lugdunum.auex.de are binding for the auction, not the illustrations. The auction catalogues published on other internet sites are for information purposes only. The start prices and estimates are listed in Swiss francs CHF.

Binding offer

6.

Each submission of a bid is a binding offer, which cannot be withdrawn; the bidder remains bound by his bid until this is either outbidden or rejected by the auctioneer. The minimum accepted bid is the starting price, i.e. 80% of the estimates. Bids that are lower than the starting price are not considered.

Auctioneer's hammer, buyer's premium and VAT

7.

Hammer prices will be fixed following a call for the highest bid, which commits the highest bidder to purchase the lot. The Auctioneer may reject a bid, without stating a reason and without liability. The responsibility passes to the buyer with the fall of the hammer. Each successful bidder is personally liable for his purchases and cannot claim to have bought for the account of third parties.

8.

A premium of 20% (+ VAT where applicable) is payable on the hammer price. The invoice is due for immediate payment in Swiss Franks CHF after the auction has taken place.

9.

For platinum, silver and copper coins and for all medals (including Gold medals), banknotes, decorations, antiques etc., statutory value added tax at the rate of 7,7% is charged on the total of the auction invoice (i.e. hammer price plus buyer’s premium and any shipping costs and insurance fees).

10.

VAT is not charged for official state-minted gold coins on hammer price and on the associated premium.

11.

Value added tax is not due if the auction lots are shipped abroad. Value added tax is initially charged to buyers residing outside of Switzerland to whom the auctioned lots are handed over in Solothurn. However, this is refunded in full by the Auctioneer once the definitive tax assessment decision of the Swiss Customs is handed over.

Payment terms, shipping- and customs taxes

12.

The auction invoice is due for payment no later than 10 days after the end of the auction. After expiry of this payment period, the buyer automatically falls into arrears and the Auctioneer is entitled to demand interest at the rate of 12% p.a. If the buyer is in default of payment or refuses to accept the auctioned lot, the Auctioneer reserves the right to sue the buyer for either fulfilment of the contract or for compensation for losses resulting from non-fulfilment or to withdraw from the contract.

13.

Basically, the auction lots are only handed over or shipped after full payment of the auction invoice. It is at the sole discretion of the Auctioneer to hand over lots on account. Costs incurred abroad, such as customs duties and taxes, as well as the associated shipping costs and insurance charges, are borne solely by the buyer. Shipping to the Russian Federation is expressly made subject to the recipient’s own risk.

14.

Compliance with foreign customs and exchange regulations etc. is the responsibility of the buyer. The Auctioneer expressly disclaims responsibility for any consequences that may arise from contravention of such regulations.

Reservation of ownership

15.

The auction item remains the property of the consignor until the auction invoice has been paid in full.

Lot viewing

16.

The lots to be auctioned are described to the best of our knowledge and belief and with great care. Bidders get the opportunity to inform themselves about the condition of the lots, in person or through a representative, during the viewing days listed in the catalog.

Complaints, claims and warranty

17.

Justified complaints regarding the condition of the auctioned item must be sent to Lugdunum GmbH by registered letter. Claims due to disagreement about the level of conservation of a lot are not accepted. Lots which contain more than one piece are excluded from claims of any kind.

18.

The authenticity of the auction items is guaranteed. The right to claim warranty is granted to the buyer only and cannot be assigned to third parties.

The assertion of the warranty claim requires the buyer to give notice of defect to Lugdunum GmbH by registered letter immediately after discovery of the defect and the forged auction item must be returned to Lugdunum GmbH in the same condition as it was handed over to the buyer, unencumbered by third party claims.

The buyer must, at his own expense, provide proof that the auction item is a forgery. Lugdunum GmbH may require the buyer to seek the opinion of two independent experts recognized in the field, at the buyer’s own expense. However, Lugdunum GmbH is not bound by such opinion and reserves the right to seek additional expert advice at its own expense.

19.

For coins in so-called ‘slabs’ (NGC, PCGS, etc.), any warranty is void as soon as these are opened. Any claim or complaint has to be made directly to NGC or PCGS.

Refunds

20.

Justified claims of the buyer against Lugdunum GmbH concerning the condition or falsity of the auction item are limited to the refund of the purchase price and the premium paid by the buyer (including any VAT). Further or other claims of the buyer against Lugdunum GmbH or its employees are excluded under any legal title whatsoever.

Confidentiality and place of jurisdiction

21.

The names of the consignors and the buyers are treated confidential. The Auctioneer is entitled to exercise all rights of the consignor against the buyer arising from the contractual relationship in its own name.

22.

The place of claim and the place of jurisdiction is 4500 Solothurn, Switzerland. In addition, Swiss cantonal and federal laws apply. The auction and all related legal transactions are subject exclusively to Swiss law.

23.

The original German text is authoritative for the interpretation of the present conditions of auction in English language.

Solothurn, May 2021
Lugdunum GmbH