Page 64 - The Lugdunum Auction 21

CONDITIONS OF AUCTION - LUGDUNUM GMBH

For the Auctions (Internet and Floor Auctions) of the Lugdunum GmbH, Bielstrasse 3 in 4500 Solothurn (Switzerland), the following terms
and 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.

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 (Internet -e) 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 illustra-
tions. 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 Each submission of a bid is a binding offer, which cannot be withdrawn; the bidder remains bound by his bid until this is either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 Auctio-
neer 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 (also 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 disc-
laims responsibility for any consequences that may arise from contravention of such regulations.