General Condition of Sale
1. This conditions are deemed to be accepted by any person taking part in the auction sale.
2. Auction bidding is conducted in Euro and the sale follows the sequence shown in the catalo g. The prices in the catalog are all starting prices. Editions V. Gadoury may perform its functions at its own and complete discretion and reserves the right, without limitation, to refuse a bid for one lot or to split, join or with withdraw any lots from the sale without giving any prior reason.
3. Any potential bidder must show proof of identification and complete a registration form before the start of the auction, and subsequently be registered. Editions V. Gadoury may require a bank reference or a guarantee. In this circumstance the bidder will receive a bidding number. Editions V. Gadoury reserves the right to refuse admission to any person at its auctions. Those without bidding number will not be permitted to enter the auction room. By making a bid the buyer acknowledges acceptance of these terms and shall be bound by them. The bid made by a bidder is irrevocable and definitive. Absentee bidders can bid up to 24 hours before the start of the auction by writing, telephone or sending an e-mail using the bid form.
4. Bidders are deemed to act in their own name and they are personally responsible for the payment of the purchase price and all others costs such as commissions, taxes and expedition costs.The highest bidder who has been aknowledged by the auctioneer when he hammer falls has legally bought the lot.
5. The description of each lot in the catalog is given in good faith and is statement of opinion. Editions V. Gadoury guarantee the authenticity of the coins in the catalog for the total purchase price.
6. The bidder have to pay a commission of 15% + VAT (20%) on the hammer price therefore 18% Vat included. Payment is due immediately upon delivery or prior to the shipment of the lots. The winning bidder must show his bidding number immediatly after the purchase of the lot. In case of litigation between two bidders, the auctioneer may cancel the sale and put the lot back in tHe auction. For lots from n°1434 to n°1783 comission will be 20% + VAT = 24%. For live bidding there will be an extra charge of 2%. No extra charges apply for phone bidding.
7. The transfer of ownership of the lot in favor of the bidder shall only take place after full payment of the hammer price and additional charges mentioned above. However, once the auction (hammer blow of the auctioneer) has taken place, all risks related to the lot will be transferred to the buyer in full and without reservation. Any taxes due abroad, including but not limited to customs duties and taxes are to be fully paid by the bidder. The coins that have the indication “EXTRA UE” are located outside of the European Union, and therefore if the purchaser wishes to import them within the European Union, the purchaser shall be obliged to pay any applicable custom duties.
8. The lots in the auction are sold on behalf of a third party or are property of Editions V. Gadoury. The bidder has not the right to know the identity of the consignor of the coins.
9. The Principality of Monaco has a preemptive right to the coins sold in accordance with current laws. The exercise of this right comes immediately after the fall of the hammer, if the representative of the Principality expresses then the will to replace the highest bidder, and he confirms this will within 15 days. Editions V. Gadoury will not be responsible for the preemption of the Principality.
10. Editions V. Gadoury shall not be responsible for any injury, damage or loss suffered by any person while he is present at the sale or at the time of the auction, for negligence of Editions V. Gadoury employees or agents.
11. The Monaco law does not allow to set a minimum price, "reserve price". Editions V. Gadoury, in order to ensure the interests of the seller, can bid in the name and on behalf of the seller until the moment when other bids are equal or superior to the price agreed between the seller and Editions V. Gadoury.
12. These Conditions shall take effect and be construed in accordance with the provisions of Monaco’s law. Any dispute relating to the sale or such conditions will be subject to the jurisdiction of the courts in Monaco.
13. Invoices are due and payable immediately upon receipt. Late fees are 1.0% interest per month, they shall be payable on invoices not settled within 30 days of the auction date. Credit cards (Visa or MasterCard) will be accepted with an extra fee of 2%.