General Terms - Harmers Auctions SA

1. The auction takes place publicly. Participation means acceptance in full of the general conditions as well as any rights and obligations arising there from.

2. HA Harmers Auctions SA, the company organizing the present auction, acts exclusively as agent and does not assume any liability in case of default of the vendor and/or purchaser and their representatives respectively.

3. Lots are described with the utmost care. However, HA Harmers Auctions SA does not assume any responsibility for such descriptions. Photographs are considered an integral part of the description with regard to all visible attributes such as margins, postmarks, centering and perforation.

4. All lots described in the auction may be examined as indicated in the catalog. It is assumed that participants present at the auction, acting personally or as representatives, have already examined the lots. The lots are, therefore, accepted as they are at the moment they are knocked down and not necessarily as described in the catalog.

5. The highest bidder for each lot shall be purchaser thereof. In case of dispute, HA Harmers Auctions SA has the right to cancel the sale and to re-auction the lot(s).

6. Every bid must be higher than the previous one by a margin of 5%. HA Harmers Auctions SA reserves the right to establish other percentages at their discretion (see Bid Form for increments).

7. Written bids received by HA Harmers Auctions SA before the auction will be given priority over room bids, phone bids, Internet bids.

8. HA Harmers Auctions SA does not assume any responsibility in case of negligence, error or fault in the execution of written bids.

9. HA Harmers Auctions SA reserves the right to withdraw, divide, group, change the order or refuse to knock down any lot.

10. HA Harmers Auctions SA has the right to refuse any bid, according to their judgment, whether it be written or by telephone or made in the auction room or via Internet.

11. Every participant in the auction must, upon request, provide proof of identity and present a legitimate document indicating their bank references. HA Harmers Auctions SA reserves the right to refuse admission to the auction room.

12. A bidder acting on behalf of a third party or parties, must advise the auctioneers of this fact before the beginning of the auction. Any person bidding on behalf of a third party pledges his personal responsibility and is fully liable concerning all obligations relating to the present sale. The above-mentioned responsibility extends to the examination of the quality of the lots bought as well as payment of the invoice concerning the purchase.

13. The purchaser must pay HA Harmers Auctions SA a commission of 20% of the hammer price. Swiss VAT (8%) is payable on the total sales price (i.e. hammer plus commission). It is not payable by buyers domiciled outside Switzerland possessing a legal direct export declaration. This is applicable to goods exported by HA Harmers Auctions SA on behalf of the purchaser. If the buyer domiciled outside Switzerland wishes to export the lots himself, VAT will be debited and subsequently refunded upon receipt of the proper export document if the merchandise is exported within one year of purchase.

14. On the fall of the hammer, liability for the knocked-down lot passes to the successful bidder. The lot(s) are given to the purchaser when the sale price, commission and VAT (as applicable) are paid in full. Title shall not pass to the buyer until full payment is received by HA Harmers Auctions SA.

15. The purchaser present in the auction room is obligated, except as agreed with HA Harmers Auctions SA, to pay the purchase price, commission and VAT (if applicable) in Swiss francs immediately upon delivery of the lots. The purchaser by way of written or telephone bids or bids on Internet is obliged to pay the purchase price and the commission in Swiss francs upon receipt of the invoice sent to them by HA Harmers Auctions SA. In such case, HA Harmers Auctions SA will retain the lots adjudicated until receipt of the full amount due. All expenses related to the delivery of the lots, whether Postal or Courier will be borne by the purchaser.

16. Lots purchased at the auction and not forwarded by HA Harmers Auctions SA must be collected no later than 7 days after the auction at the risk and expense of the purchaser. The expense of storage of the lots for more than 7 days will be borne by the purchaser. In no case will HA Harmers Auctions SA be held responsible for loss or damage from the date of adjudication to possession of the lots by the purchaser.

17. If the lots are neither collected nor paid for within 30 days of the auction, HA Harmers Auctions SA reserves the following rights and legal actions according to their discretion:
  a. to cancel the sale without further notice to the purchaser;
  b. to take legal steps in order to recover amounts due them. If the auctioneer, at his discretion, shall institute any legal action to secure payment of a delinquent account, the defaulting purchaser shall pay all legal expenses incurred by the auctioneer and such charges will be added to the amount owed;
  c. to request compensation that include any loss incurred by the re-sale of the abovementioned lots, the expenses and taxes relative to the two sales.

18. HA Harmers Auctions SA will charge 1% per month interest if the purchase price and commission are not paid within 30 days of the sale. Paragraph 19 of the present general conditions is reserved.

19. Until full payment, the purchaser guarantees HA Harmers Auctions SA by pledging any and all property of the purchaser held by HA Harmers Auctions SA with the material purchased. This pledge secures payment of the hammer price, interest, commission and other expenses. HA Harmers Auctions SA is authorized but not obligated to sell the material received as a pledge, without formalities or notice, if the purchaser is in default of payment or does not fulfill his obligations. In this case, HA Harmers Auctions SA is not obligated to follow the dispositions of the Federal Law on execution and bankruptcy.

20. No complaints will be accepted for margins, perforation, centering or postmarks for all lots which have been photographed. Any lot with more than 10 stamps/covers will not be returnable for any reason.

21. A complaint regarding the authenticity or condition of a lot must reach HA Harmers Auctions SA within 7 days of receipt of the lot, unless prior notification to HA Harmers Auctions SA for an extension of time for the expert's opinion has been received. Any purchaser present in the auction/sending absentee bids/via Internet or telephone must advise of extension at the time of purchase. Complaints presented after this term will not be considered.

22. Should the authenticity of a lot without a certificate, be questioned, the buyer must provide an expertise within 30 days of receipt of the lot. Should the complaint be justified, all expenses related will be borne by the consignor, otherwise by the buyer. Should any lot turn out to not be as sold, it may be returned for the full purchase price plus commissions. In case two expert opinions draw different conclusions, the parties will accept the final verdict of a third expert chosen by mutual consent of the parties. If the complaint is not valid, all the expenses will be borne by the purchaser.

23. This auction as well as any right and obligations arising there from shall be governed exclusively by Swiss law. Any legal action or proceeding with respect to this auction shall be submitted to the exclusive jurisdiction of the Court of Lugano, Switzerland subject to appeal to the Swiss Federal Court. HA Harmers Auctions SA reserves the right to sue any purchaser at his place of residence; in such a case, Swiss law shall remain applicable.