AUCTION TERMS AND CONDITIONS of ANTIUM AURUM s.r.o.

 ANTIUM AURUM s.r.o., having its registered office in Šaldova 219/1, 186 00 Praha 8, Identification No. (IČ): 27565629, registered in the Companies Register maintained by the Metropolitan Court in Prague, section C, entry No. 114287, (hereinafter referred to as the “Company”), sells medals, coins and other items (hereinafter referred to as "items"), also in the form of auctions, on its own behalf and on the account of its customers (hereinafter referred to as “Sellers”) and, if applicable, also on its own account. The auctions of these items are performed under these auction terms and conditions (hereinafter referred to as "Auction Terms and Conditions").

Article 1               Auction

  1. In order to promote the sale of the goods entrusted to the Company for the sale of goods and / or the goods owned by the Company, the Company organizes a sales auctions (hereinafter referred to as "auctions").

 

(2)       An Auction may take place in the physical presence of the potential buyers or, as the case may be, their agents (so-called traditional auctions) as well as by means of an Internet-based auction system (the so-called online auctions), or in a combination of the two.

Article 2               Auction Item

  1. The items offered by the Company for sale at an auction (hereinafter referred to as “Auction Item”) are items regarding which the Company has entered into an auction consignment agreement with their owners, or items which the Company owns.

 

(2)       The Auction Item could be an item declared a cultural heritage asset pursuant to Act No. 20/1987 Coll.., on state heritage care, as amended (hereinafter referred to as "Heritage Care Act"), or an item proposed to become a heritage asset.

(3)       In order to export a heritage asset to a foreign country it is necessary, pursuant to Act No. 71/1994 Coll., on the sale and export of items of cultural value, as amended, to meet the conditions laid down by this Act including but not limited to obtaining a prior consent of the relevant bodies. Such items may only be exported from the Czech Republic upon presentation of an official certificate that these items are not declared a heritage asset and are not a part of a set declared a heritage asset pursuant to the Heritage Care Act.

(4)       If the Auction Item is a collection or individual collection items registered in the central registry of museum collections maintained by the Ministry of Culture of the Czech Republic it may only be disposed of under the conditions laid down by Act No. 122/2000 Coll., on the protection of museum collections, as amended.

(5)       The buyer is responsible for the fulfilment of the requirements of the above-mentioned laws and regulations after personal takeover of the Auction Item or prior to the shipping thereof according to Article 9.

 Article 3               Auction Participants

  1. Auction participants (bidders) may only be persons registered as auction participants. In the case of a tradition auction a person is registered by completing the form which is available on Company´s website and at the auction site before the auction starts and by submitting it by mail at the Company’s headquarters address, electronically at the Company’s e-mail aukce@antiumaurum.cz or by passing it on the Company´s at the auction site before the auction starts. Registration for an online auction is via an Internet auction system. In the case of registration in the Internet auction system for an online auction the registration must be made 48 hours before the auction at the latest.

(2)       The Company is entitled to require that the person who is interested to be registered as an auction participant (bidder) to

(a)       pay before the auction an advance payment toward the purchase price of the Auction Item, by wire transfer to the Company’s bank account or in cash at the Company store, whereas the payment must be credited to the Company´s bank account no later than the end of the business day immediately preceding the date of the auction, or

(b)       provide the Company with additional information (e.g., a photocopy of an identity card) and a guarantee by a credible person.

(3)       There is no legal entitlement to the registration. The Company may reject an application for registration of an auction participant also without stating the reasons.

(4)       Auction participants (bidders) may not be persons who are not fully capable to enter into legal acts or persons who are unable to acquire ownership of or rights to the Auction Items, or persons whose assets are subject to a bankruptcy or against whom an insolvency petition was dismissed due to the lack of assets, for the period of three years of the coming into force of such decision. Auction participants (bidders) may not be the auctioneer or employees of the Company.

(5)       An individual who is an auction participant (bidder) or an agent of an auction participant (bidder) or who acts on behalf of a legal entity which is an auction participant is obliged to produce his/her valid identity card upon registration in the list of participants (citizen’s identity card, passport, card of a holder of permit of residence in the Czech Republic).

(6)       A legal entity which is an auction participant (bidder) or an agent of an auction participant (bidder) is obliged to produce upon registration in the list of participants an extract from the Companies Register or another registry where it is registered, the extract not being older than three months. This extract shall imply authorization to act on behalf of the legal entity, including granting of the power of attorney and, if it is not the case, the proxy authorization must be demonstrated by the relevant documents (e.g., minutes from the general meeting).

(7)       The Company is entitled to require that extracts from foreign registries and documents proving the proxy authorization (with the exception of the Slovak Republic) be notarized in the adequate manner (by means of an apostille (signature authentication) or super-legalization).

 (8)       The Company may exclude from the auction a person who failed in the last three years to pay the purchase price for any Auction Item sold by the Company and/or otherwise materially breached his/her contractual obligations to the Company.

 Article 4               Agency

  1. An auction participant is entitled to participate in a traditional auction through an agent under a written power of attorney. A legal entity may be represented, other by a statutory body, also by a holder of a procuration (in Czech "prokurista").

(2)       An auction participant is entitled to authorize the Company to represent his/her at an auction, under an authorization within the binding order the template of which is a part of the catalogueue and is also available on the Company´s website, which shall be delivered to the Company 48 hours before the auction at the latest.

(3)       In the case of authorization of the Company according to paragraph 2 of this Article, the auction participant shall issue instructions to the Company as his/her agent

(a)       by telephone during the auction, and/or

(b)       in the form of the so-called written limit specified in the written order which specifies for the Company the highest possible bid for the purchase of the Auction which the Company Item may submit as the auction participant’s agent; the bid price shall net be lower than the starting price.

(4)       If the auction participant submitted a binding order to the Company specifying the written limit and at the same time expressly reserved the right to give the Company instructions during the auction by telephone, the instruction give to the Company phone shall take precedence.

 Article 5               Information on the Auction and the Auction Items

  1. An auction catalogue is issued for every auction; the auction catalogue shall list the Auction Items which are sold at the particular auction, the starting price thereof which shall include the applicable VAT, if any, in the statutory amount, image and text description thereof; in the case of inconsistency between the image and the text description the text description shall take precedence. Additionally, the assessment of the degree of haleness provided by the Company or a third person is provided. The auction catalogue shall also include the auction notice. The auction catalogue is available for review at the Company store or at the Company’s website and antiumaurum.auex.de, at least 14 business days before the date of the auction.

(2)       The Company shall publish on its website an auction notice which shall include the venue, date and time of the auction, the method and conditions of registration, and information on where the Auction Items can be viewed, at least 14 business days before the date of the auction. The auction notice shall be published also at the Company store and at the venue of the auction.

 Article 6               Organization of the Auction

  1. Auction participants are obliged to follow the instructions of the Company and shall not disrupt the course of the auction in any way.

(2)       Only auction participants, their agents, employees of the Company, and persons authorized by the Company to perform acts in connection with the organizing of the auction may be present at the venue of the auction.

(3)       Every participant of a traditional auction is obliged to collect the auction number under which he/she shall submit bids for the purchase of the Auction Item, however the Company is entitled to claim the payment of a refundable deposit of CZK 1,000, before the commencement of the auction. Auction participants are obliged to protect the auction number against misuse and are liable for the use, if any, thereof by a third party.

(4)       Auction participants shall have no rights to the Company in this respect. The provisions of Article 10 are not affected.

(5)       Photos or other audio or video recordings during are not allowed the auction without the Company’s consent.

(6)       Objections, if any, about the course of the auction must be raised immediately, right in the auction room, otherwise they will not be taken into account. These objections shall be finally settled on behalf of the Company by the auctioneer according to the common practices and principles of fair business transactions. In the event that a certain bid is overlooked by mistake during the auction and/or is not taken into account for any other reason and/or in the event that the auctioneer is mistaken about whether or not a certain bid was submitted, the Company is entitled to withdraw from the purchase agreement signed as early as during the auction and/or within 3 business days of the auction. A mistake regarding the amount of the bid by the buyer shall be the buyer’s liability.

 Article 7               Auction Process

  1. Participants of an online auction shall sign in upon the commencement of the auction through the relevant Internet auction system.

(2)       Auction participants who have authorized the Company as their agent and reserved the right to give the Company instructions by telephone according to Article 4(3) will be contacted by an employee of the Company upon commencement of the auction for an auction items, which are enlisted in the binding order.

(3)       The auction is conducted by the auctioneer on behalf of the Company. In the auction, the auctioneer asks the auction participants to submit binding offers for the purchase of the Auction Item.

(4)       The offers are submitted in the form of the so-called bids. The bids are called by an auction participant in a traditional auction by raising the auction number; in the case of a written limit and telephone instruction according to Article 4(3) the bids are called through an employee of the Company.

(5)       The auction participant is bound by the bid for the purchase of the Auction Item. By calling a bid, the auction participant confirms that he/she has properly examined the Auction Item as well as other information provided in the auction catalogue.

 (6)       The amount of the bids is specified in the following table:

 

Last bid

Amount of bid

Up to EUR 50

EUR 5

From EUR 50 to EUR 200

EUR 10

From EUR 200 to EUR 500

EUR 20

From EUR 500 to EUR 1,000

EUR 50

From EUR 1,000 to EUR 2,000

EUR 100

From EUR 2,000 to EUR 5,000

EUR 200

From EUR 5,000 to EUR 10,000

EUR 500

From EUR 10,000 to EUR 30,000

EUR 1,000

From EUR 30,000 to EUR 50,000

EUR 2,000

From EUR 50,000 to EUR 100,000

EUR 5,000

From EUR 100,000 to EUR 300,000

EUR 10,000

From EUR 300,000 to EUR 500,000

EUR 20,000

From EUR 500,000 to EUR 1,000,000

EUR 50,000

More than EUR 1,000,000

EUR 100,000

 

(7)       If a higher bid was not called despite the auctioneer’s invitation the auctioneer will announce the highest bid again, and after the third invitation the Auction Item will be sold to the auction participant who submitted the highest bid. This constitutes a concluded agreement on purchase of the Auction Item between the Company and the bidder who made the highest bid (hereinafter referred to as “Buyer”), whereas the value of the highest bid represents the purchase price of the Auction Item (hereinafter referred to as "purchase price") which is inclusive of the applicable VAT in the statutory amount.

(8)       In the case of an online auction the purchase agreement for the purchase of the Auction Item is entered into at the moment of termination of the auction, provided that at least the minimum bid for the purchase of the Auction Item was made. The Auction Item shall always be sold to the highest bid.

(9)       If several auction participants submit an equal bid at the same time and if no higher bid was made according to the table of bids the auctioneer shall be entitled to announce the possibility to submit a half bid (i.e., 50% of the bid specified for the relevant last submission).

(10)     If several auction participants submit an equal bid at the same time and if no higher bid was made the auctioneer shall decide who the winner, i.e., to whom the Auction Item will be sold, according to the following rules – a bid within the written limit prevails over a telephone bid, a telephone bid prevails over a bid called in the auction room, a bid called in the auction room prevails over a bid submitted via an Internet auction system. In the case of equal bids within written limits of the same amount the bid which the received first shall prevail.

(11)     Auction Items shall be sold in the order as they are listed in the auction catalogue. The numerical value provided in the catalogue is the minimum bid for the purchase of the Auction Item (starting price) in EUR and may not be reduced.

(12)     If the minimum bid for the purchase of the Auction Item is not submitted even after a repeated invitation the Auction Item shall be considered unsold in the relevant order of the auction catalogue. After termination of the auction of all Auction Items listed for the respective auction the auctioneer shall be entitled to include the unsold Auction Items again in the auction, proceeding according to paragraphs 3 to 10 of this Article.

(13)     In the case of parallel conduct of a traditional auction and online auction, after the auctioneer’s invitation the bids submitted through the Internet auction system and the bid called in the auction room, bids submitted through written limits, and bids submitted by telephone shall be evaluated at the same time.

(14)     The Company is also entitled to participate in the auction and submit bids for the purchase of the Auction Item; bids on behalf of the Company shall be submitted by a person other than the auctioneer.

Article 8               Payment of the Purchase Price of the Auction Item

  1. The Buyer is obliged to pay the purchase price of the Auction Items purchased by hi/her at the auction in proper and timely fashion, and the purchase price is inclusive of the applicable VAT in the statutory amount

 (2)       As of the date of conclusion of the agreement on purchase of the Auction Item the Company shall issue to the Buyer a certificate of sale or an invoice.

 (3)       The purchase price of the Auction Item is payable within 7 days of the date of the auction; the Company reserves the right to request the payment of the purchase price immediately after having entered into the agreement on purchase of the Auction Item, if it is customary with respect to the circumstances.

 (4)       The purchase price of the Auction Item can be paid by wire transfer to the Company’s bank account or in cash at the Company store in EUR or in USD or in CZK converted using the applicable exchange rate of the Czech National Bank (ČNB), unless it has been agreed otherwise.

(5)       If the Buyer purchases multiple Auction Items at an auction and does not specify toward which payable the payment is to be made the Company shall be entitled to use the payment received at its discretion for the payment of the purchase price of any Auction Item purchased by the Buyer and/or for the payment of any of its receivables from the Buyer.

(6)       If the purchase price achieved at an auction is not paid within the maturity period thereof the Company will be entitled to charge a default interest in the amount of 0.05% for each day of the default. In the event of recovery (collection) of the purchase price the Buyer shall bear all costs associated with the recovery (collection) of the amount owed, including the legal costs. The Company is entitled to assign these rights to the payment of the purchase price to the Seller. The Company may withdraw from the purchase price instead of collecting the amount owed; in such case the Buyer shall pay to the Company and to the Seller the loss incurred, including the loss of profits.

(7)       The Buyer shall pay to the Company the auction fee determined as a lump-sum fee in the amount of  17,5% of the purchase price of each Auction Item purchased by him/her at the auction. The auction fee is intended for the coverage of the costs incurred by the Company in connection with the organization of the auction and also as a compensation for the services provided by the Company to the Buyer in connection with the auction (hereinafter referred to as “auction fee”). The auction fee shall be payable within the same time limits and in the same manner as the purchase price of the Auction Item. The auction fee is inclusive of the applicable VAT in the statutory amount.

(8)  The Buyer may set off against the Company’s receivables for the payment of the purchase price only such receivables he/she has from the Company which have been finally awarded by the court and/or explicitly recognized by the Company, for their own reasons and above.

 Article 9               Acquisition of Ownership and Handover of the Auction Item

  1. The ownership title to the Auction Item shall be transferred to the Buyer upon the payment of the purchase price in full; as of this moment, the risk of damage, destruction and loss of the Auction Item shall also pass to the Buyer.

 

(2)       The Auction Item shall be handed over to the Buyer after payment of the purchase price, the auction fee as well as other payables the Buyer is owing to the Company. The Buyer is obliged to take over the Auction Item immediately after he/she has become the owner thereof and to meet all other conditions for the takeover of the Auction Item within this time limit. Should the Buyer be in delay with the takeover of the Auction Item the Company shall be entitle to charge the Buyer CZK 100 for each day of the delay and each Auction Item purchased. At the same time, the Company is entitled to deposit the Auction Item at the Buyer’s expense, in legal custody and/or to sell it in an appropriate manner on the account and at the expense of the Buyer at the price for which it can be sold (the Company’s fee for the brokerage of the sale in such case shall be 40% of the purchase price achieved minus all costs of the Company). The Company is entitled to exercise the right of retention of the Auction Items purchased by the Buyer at the auction in order to ensure the payment of the payables the Buyer is owing to the Company.

(3)       Together with the Auction Item the Company shall issue to the Buyer a written certificate of acquisition of the ownership title.

(4)       Upon agreement with the Buyer, the Company shall provide for the shipping of the Auction Item to the address specified by the Buyer. All costs associated with the shipping of the Auction Item (postage, insurance, handling fees, etc.) and the shipping risks shall be borne by the Buyer. The price of the shipping of the Auction Item shall be determined by the Company.

(5)       If the Buyer wishes to export the Auction Item to a foreign country he/she is obliged to comply in advance the requirements of the applicable laws and regulations, including but not limited to the regulations mentioned in Article 2 hereof and to obtain the relevant permits/consents, and is liable for the payment of the applicable taxes, duties and fees.

 (6)       The place of discharge of the obligations in connection with the auction is the registered office of the Company, taking into account the fact that the auctions are typically not held at the registered office of the Company.

 (7)       The Company is not obliged to inform the Buyer about the Seller (and vice-versa).

 Article 10             Liability

  1. In the event that the Company is liable to the Buyer for a loss, the Buyer agrees that the compensation will be limited. The Company is not obliged to pay a loss of profit or a loss that would have occurred anyway. The only loss which is to be compensated is financial loss in the proven amount, up to the amount of the purchase price of the Auction Item paid. In addition, the Company is not liable to the Buyer for any damage to the Auction Items which occurs in the time of the Buyer’s delay with the takeover of the Auction Items.

(2)       Hidden defects, if any, of the Auction Item must be claimed by the Buyer within 12 months of the takeover of the Auction Item.

(3)       An appraisal, expert determination and description of the Auction Item shall be performed by experts authorized by the Company. Although the information provided in the auction catalogue is a result of professional investigation, the accuracy and assessment of the exert opinions cannot be fully guaranteed. In the items which are sold in auctions organized by the Company, only such defects and damages are mentioned which may affect the price thereof. The damage, if any, is already taken into account in the appraisal of the Auction Item provided in the auction catalogue. Liability for damage may only be claimed in situations where the defect was not apparent from the image or description of the item provided in the catalogue.

(4)       Every potential bidder may view the Auction Items offered before the auction within the time periods specified in the auction catalogue and in the auction notice.

(5)       Complaints concerning the quality, condition of Auction Items as well as other apparent defects, if any, are admissible only upon personal takeover of the Auction Item or within seven calendar days of the receipt in the case of shipping of the Auction Item. No later complaints will be accepted. The Auction Items subject to a complaint must be returned in the same condition as when handed over to the Buyer.

(6)       In the case of sets or collections of Auction Items which are offered as sets of items, such sets are offered and sold on as-is basis, and no complaint can be raised after they have been taken over.

Article 11             Joint and Final Provisions

  1. By submitting the registration form or, as the case may be, by registering in the Internet auction system, the auction participant consents to these Auction Terms and Conditions, to the processing of his/her personal data or, as the case may be, personal data of the individuals acting on his/her behalf, pursuant to Act No. 101/2000 Coll., on personal data protection and on amendment of some Acts, as amended, or the GDPR Regulationfor the purposes and to the extent specified in the registration form.

(2)       The Company publishes these Auction Terms and Conditions and the annexes thereto and other information according to these Auction Terms and Conditions on its website at www.antiumaurum.cz and makes them available in hardcopy form also at the Company store at Saldova 219/1, 186 00 Praha 8, the Czech Republic.

 (3)       Internet auction system shall mean, for the purpose of these Auction Terms and Conditions, a system operated on the websites antiumaurum.auex.de (AUEX). The Internet auction system can also be accessed via the www.sixbid.com (SIXBID) website and www.numisbids.com (NumisBids) website.

 (4)       The purchase of an Auction Item at an auction as well as the related legal relations shall be governed by the Czech law. The United Nations Convention on Contracts for the International Sale of Goods shall not apply.

(5)       Disputes arising from an auction shall be settled by the court having the jurisdiction according to the registered office of the Company.

(6)       In case of any inconsistency between the different language versions of these Auction Terms and Conditions the Czech version shall prevail.

(7)       In the event that the auction participant / Buyer enters into a contractual relationship with the Company in relation to an auction in the position of a consumer, the disputes arising from such contractual relationship may be settled, in accordance with Section 20d et seq. of Act No. 634/1992 Coll., on consumer protection, as amended, also out of court, namely with the Czech Trade Inspection Authority, having its registered office in Stepanska 567/15, 120 00 Praha 2, Czech Republic; for more information see www.coi.cz. This is without prejudice to the right of the auction participant / Buyer to exercise his/her rights by legal action. Notice to consumers prior to the conclusion of a contract within the meaning of Section 1811 (2) and Section 1820 (1) of Act No. 89/2012 Coll., The Civil Code, as amended, are available on the Company's website and on the Internet Auction System.

(8)       The auction participant or other person, whose personal data are being processed by the Company, has a right the Company for the information on processing of the personal data, limitation or termination of theprocessing of the personal data or to object. He/she may as well submit a complaint to the Office for the Personal Data Protection, with its registered office at Pplk. Sochora 27, 170 00 Praha 7, the Czech Republic. More detailsare to be found on www.uoou.cz. This does not prevent the auction participant from exercising his/her rights before courts.

 (9)       All services provided by the Company under these Auction Terms and Conditions or under auction consignment agreements entered into with the owners of the Auction Items shall be considered, for the tax purposes, provided on the date of handover of the Auction Item to the Buyer.

[1]Nařízení Evropského parlamentu a Rady (EU) 2016/679 ze dne 27. dubna 2016 o ochraně fyzických osob v souvislosti se zpracováním osobních údajů a o volném pohybu těchto údajů a o zrušení směrnice 95/46/ES (obecné nařízení o ochraně osobních údajů), které od 25. května 2018 nahradí zákon č. 101/2000 Sb., o ochraně osobních údajů.

 These Auction Terms and Conditions shall enter into effect and force on 1 April 2018.

Declaration

I declare hereby that,

I. - I have full legal capacity to all legal acts and I am not aware of any circumstances precluding my participation at the auction;

- All information I have provided to the Company are true and full;

II. - I have myself acquainted with the Auction terms of the Company including the provisions regarding obligations of the purchaser to comply with the requirements of the Act No. 71/1993 Coll., on sale and export of items of the cultural value, as amended, related to the restrictions on the export of items of the cultural value as well as with other foreign exchange and custom and tax and other relevant laws and regulations and the obligation to pay relevant taxes, customs and fees, also for the instance I instruct the Company to ship the purchased auction item(s) abroad;

III. In compliance with the Act No. 101/2000 Coll. on the protection of personal data and amendment of other acts, as amended, I acknowledge the Company is processing my personal data provided in this Registration Form and eventually other personal data obtained in relation to the auction, for the purpose of the auction, activities related to the auction and fulfilment of legal obligations (including keeping, amendments thereto, search, selection, combination, liquidation of the personal data).


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