Terms and Conditions

Sale organizer

The organizer of the sale (cataloging the creation of lots, and managing logistics) of movable assets (hereinafter referred to as the "Shop") is

KATZ Bros, s.r.o. (LTD)

Registered ID: 19631022,

TAX ID: CZ19631022) with its registered address at:

Anny Letenské 34/7, Vinohrady, 120 00 Prague 2, and registered office at Opletalova 1284/37, Nové Město, 110 00 Prague 1

(Hereinafter referred to as the Company/Seller).

I. Members of Sale

  1. The user (Customer) who has finished the registration process, and agreed with T&C about purchasing the platform for an agreed remuneration to the organizer.

  2. By registering in the online system, the Customer agrees to these Sale Terms and Conditions and also confirms that he/she is aware of the terms and conditions of the processing of his/her personal data, or personal data of natural persons acting on his/her behalf, in accordance with the GDPR and other data protection regulations, as detailed in the Information on the Personal Data Processing, which is an annex to these Sale Terms and Conditions, for the purposes and to the extent specified in the registration form.

  3. Only natural and legal persons or registered and confirmed legal entities eligible for legal proceedings may buy from the Company that is both domestic and foreign persons (the "Customer").

  4. The Customer may be represented in the auction by a representative on the basis of a written power of attorney with an officially authenticated signature; a proxy may also act as a representative of a Customer.

  5. When registering for the Sale, companies of unknown foreign legal entities (except for those from the Slovak Republic or the Czech Republic) must, among other things, also submit an official document (equivalent to an extract from the Commercial Register) proving at least the name, legal form, registered office, and persons authorized to act on behalf of the legal entity, not older than 3 months, as well as a valid proof of identity of the person acting on behalf of the legal entity. The documents must be in Czech or English or be officially translated into one of these languages due to legal requirements of Czech Republic. We do not accept documents in non-Latin transcription (i.e. Chinese, Arabic, etc).

 

  1. The Company currency is EUR. The exchange rate to USD, CZK or any other currency is solely determined by the auction organizer.

  2. The prices displayed in the catalogue are fixed and cannot be lowered.

  3. In the event of an error in the catalogue then both - the Selelr and the Customer have a right to cancel the purchase in case of an error in the catalogue.

9. Due to European rules of GDPR, we protect all your data but if you repeatedly violate our auction rules and payment frames several times according to our T&C you have agreed on we reserve the right to add your details to the Numismatics Shared Blacklist, which is visible amongst other Auction Houses, Bidding Platforms or any of our partners to avoid any further damages. If we do not have any answer or information from you for more than 32 days, we can use all your personal data to share it with other legal entities up to our decision/their request.

II. AML Protocol

1)  The company KATZ Bros, s.r.o. is an obliged entity pursuant to Act No. 253/2008 Coll., on selected measures against legitimisation of proceeds of crime and financing of terrorism, as amended ("AML Act").

In accordance with the AML Act, a person dealing in works of art according to Annex No. 3 to this Act is the obliged entity, if their value reaches at least EUR 10,000. Furthermore, the person is authorized to store works of art, if their value reaches at least EUR 10,000 (cultural monuments or objects of cultural value), if it occurs in free zones.

The company is the obliged entity and must have a system of internal policies, procedures and control measures ("AML System"). The administrative supervision in the form of preventive and targeted checks regarding the fulfillment of the obligations stipulated by the AML Act is carried out by the Czech Trade Inspection for persons dealing in cultural monuments or objects of cultural value, or mediating such transactions.

The AML Act establishes the following obligations:

a) Identify the client

b) Refuse to carry out a transaction if there are any doubts about the veracity of the obtained identification data of the client, if the client refuses to submit to identification or refuses to document authorization, unless the authorization can be ascertained from the public register; the obliged entity informs the Czech Trade Inspection about this fact at the same time

c) Perform a client check

d) Store information

e) Report suspicious transactions

f) Provide information to the Czech Trade Inspection and the client

g) Maintain confidentiality.

If the company, as the obliged entity under the AML Act, discovers a suspicious transaction in connection with its activities, it shall report this transaction to the Czech Trade Inspection without undue delay. If the circumstances of the case require it, especially if there is a risk of delay, the obliged person shall report the suspicious transaction immediately after its detection. Suspicious business can also be conduct that does not directly lead to the conclusion of a business, but arouses reasonable suspicion.

 

III. Paying for the auctioned purchase

  1. The payment can be made in Euros (EUR) or Czech crowns (CZK) or other currencies according to the exchange rate agreed with the Seller.

  2. Unless otherwise stated, all amounts are due within 14 days after the payment request (pro-forma invoice) issue date.

  3. Items sold will become the Buyer's property only after all payments have been paid out.

  4. Any of the payment fees, postal and packaging charges are payable by the Buyer.

  5. There is a 2 EUR payment fee per invoice for handling.

 

V. Acquisition of ownership and delivery of the auctioned item

 

1. If the Buyer pays the auctioned price, including a 24.2% surcharge, within the specified time, ownership of the auctioned item is transferred to him/her. The Buyer will be provided with an invoice which is a proof of acquisition of the item in the auction together with the auctioned items in the postal package or by email.

 

2. The Buyer chooses the shipping method for his/her purchases. Purchased items can be picked-up in our office, shipped by the Buyer's request by Czech Post or UPS or DHL or can be delivered by the owner of the item or the person who put the item in the auction directly to the Buyer. The price for the transport of the auction item is determined by the Company.

 

3. The ownership right to the auction item passes to the Buyer at the moment of full payment of the purchase price; at this moment the risk of damage, destruction, and loss of the auction item also passes to the Buyer.

 

4. If the Buyer asks the Company for safekeeping of the item, the Company is entitled to charge the Buyer for each day and each purchased auction item the amount of 2 euros per day and shall not assume any liability. The item can be kept for 30 days for free.

 

5. Shipped packages can be insured at full value with an additional insurance fee of minimum 10 EUR or 1% of the total invoice value due to the rules of the carrier company.

 

6. The Auctioneer is not responsible for the loss or damage of the shipment delivered by a third-party company. All received shipments must be checked at the place of issue of the package to the Buyer and damages must be reported immediately to the carrier company and Auctioneer. In detail: upon the receipt of the auction item from the carrier, the Buyer is obliged to check the integrity of the packaging of the item and in case of any defects, immediately notify the carrier. In the event that the packaging is found to have been tampered with, the Buyer may refuse to accept the consignment from the carrier. By signing the delivery note, the Buyer confirms that the consignment containing the auction item has fulfilled all conditions and requirements and that any subsequent claims regarding damage to the packaging of the consignment cannot be taken into account.

 

7. Shipping costs might be increased after payment according to the carrier's service price due to the Fuel Fee.

 

8. In October 2021 the delivery to NYC of a parcel cost 21 euro, but in March 2022 due to the difference between fuel prices of the year 2023 and 2022, each month the prices changed, therefore the price for the same parcel can grow up to +25%.

 

9. Fuel fee is not a responsibility of the auction organizer. Delivery costs can be recalculated if the size and weight of the parcel is significantly higher than the standard one.

 

10. All claims made after 7 days of a delivery date are not taken into account. 

 

11. All shipments sent by the Czech Post must be claimed within 6 months from the date of dispatch. If the shipment has not reached the recipient during the aforementioned period the claim must be applied by contacting the Auctioneer. All claims made after this period cannot be applied.

 

12. For any lots delivered outside the country where the auction takes place the declaration value shall be the item(s)'s hammer price plus its Buyer's premium. The Buyer shall be responsible for paying all applicable taxes, duties and customs charges for all lots delivered outside the country where the auction is hosted.

 

13. Delivery terms for lots shipped outside the EU:

   - Delivery times for shipments outside the EU will be extended by 30 days due to the requirement to obtain certificates for export of cultural objects.

   - Delivery costs will increase by 500 CZK (20 EUR) for each category of lots listed on the invoice. If the Buyer has 10 items of 1 category, the fee will be 20 EUR. If there are items from 3 categories, the fee will be 60 EUR.

   - Buyers can collect purchases from multiple auctions and request certificates per parcel.

   - Buyers can provide an EU address and authorization to ship there.

   - Certificates are required for items over 50 years old and must be obtained after payment. The process can take up to 30 days.

   - Categories of items subject to certification:

     - Fund of Celtic and Ancient Numismatics

     - Fund of Early Medieval Czech and European Monetary Instruments of the Denarius Period

     - Fund of Monetary Instruments of the High Middle Ages in Bohemia and Europe of the 13th Century

     - Fund of Monetary Instruments of the High Middle Ages in Bohemia and Europe

     - Fund of Early Modern Non-Bohemian Monetary Instruments (1526 - late 18th century), excluding German states

     - Fund of Early Modern Monetary Instruments of German States (1526 - late 18th century)

     - Fund of Governmental and Non-Governmental Bohemian, Moravian, and Silesian Coinage within the Habsburg Monarchy (1526–1848)

     - Fund of European and Global Coins from the Early 19th Century to the Present (over 50 years old)

     - Fund of Non-Bohemian Paper Monetary Instruments and the Fund of Czechoslovak Coins and Banknotes from 1918 to the Present (over 50 years old)

     - Fund of Medals and Phaleristics over 50 years old

 

14. If the Buyer has any special requirements about the shipment, he/she must inform the Seller in advance. The Seller is not responsible for different fees, taxes, or any possible payment in the country of a customer's destination.

 

15. Usually items are sent from 5 to 10 business days after the payment receipt. Shipment can be delayed due to the high volume of shipments at the moment but will be shipped in a queue according to the payment date. In case an invoice is paid later than the agreed 14 days the auctioneer has the right to complete the shipping later when all invoices paid on time will be shipped. The maximum time frame for shipping of paid items is 8 weeks after the invoice payment date.

 

16. The Buyer acknowledges that the contractual shipping terms allow the insurance of auction items in one shipment with a value of over CZK 1,000,000 (within the Czech Republic) and over USD 50,000 (within the following countries: Austria, Belgium, Bulgaria, Canada, Croatia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Switzerland, UK, and the USA). Shipments to other countries cannot be insured.

 

17. In the event that for reasons on the part of the Buyer it is necessary to deliver the auction item repeatedly, the Buyer is obliged to pay the costs associated with another method of delivery.

 

18. Upon the handing over of the auctioned item to the Buyer, the Buyer has the rights and obligations of the escrow agent/clearing service. If the Buyer does not pay the price of the auctioned item including any surcharges within the specified time, it is considered to be a thwarting of the auction.

 

19. The Auctioneer is entitled to charge the Buyer who has thwarted the auction all the costs incurred by the auction, including the Auctioneer's commission and the costs of returning the item to the owner of the item. The following late payment fees apply unless otherwise agreed with the Auctioneer until the due date: 16 to 30 days - 3%, 31 to 60 days – 5%, at the same time the interest on late payment of 0.05% of the outstanding amount for each day of delay. At the same time, delay in payment of the purchase price by more than 3 working days shall be considered a material breach of the purchase contract and in such case, the Company shall withdraw from the purchase contract immediately. Withdrawal from the Purchase Contract shall be effective upon delivery of a written notice of withdrawal to the Buyer at the address provided by the Buyer when registering for the auction, or electronically via the electronic address also provided by the Buyer. In case of non-payment the participant will be added to a black-list and has to pay the Auctioneer the full surcharge of an unpaid invoice to be able to participate in auctions again. The unpaid item is then regarded as unsold with all the consequences for the Buyer. This item can be paid to the Auctioneer and become his property, returned to the owner, or relisted for sale by agreement between the owner and the Auctioneer.

 

20. In case of collection of the payment of the purchase price by the Auctioneer all costs related to the collection of the price, including the costs of legal representation. The Company shall be entitled to transfer its claims for the payment of the purchase price to the Seller. The Company may withdraw from the concluded purchase contract instead of collecting the amount due. The Buyer will be obliged to pay the Company and the Seller for the damages incurred, including lost profits.

 

21. In case of incorrect/unknown item's delivery the Buyer must report it by contacting via email/phone/messenger as soon as possible. Any incorrect/unknown item shall be returned back to the sender in order to proceed with the claim process. All costs carried by the Buyer are discussed individually. Refunds might be reimbursed to the Buyer's bank account and can be applied to future purchases.

VI. Complaints

  1. For all items in the catalog, we guarantee their authenticity and the accuracy of the description in the catalog on behalf of the Seller - owner of the item or the person who put the item in the auction.

  2. In the event of a conflict between the picture and the textual description, the textual description shall prevail. In case of a mistake in description or image both the Auctioneer and the Buyer have the right to regard the item as unsold.

  3. Because of the possibility of viewing the auction material in advance, in order to ascertain its status, the auction participants present at the auction buy the items "as they stand and lie", therefore any claims for defects of items regarding their quality are excluded.

In case of the claim on originality of the item encapsulated by NGC / PCGS or any other grading company.

4. The Buyer is not entitled to open slab without agreement with the Seller and the commissioner. In case the slab was opened without agreement the warranty of the Grading company and right to compensate the damage against the seller will be lost because no one can guarantee that the item is the same as it was inside the slab.

5.Claims of Buyers who did not personally participate in the auction will be assessed only in cases where obvious defects have been detected in the items and have not been shown on the picture, video or otherwise made visible in the catalog.

6.Buyers who pick up the items personally are obliged to report these apparent defects directly on the spot when picking up the items, others are obliged to report these obvious defects within 3 days from the date of delivery of the items.We do not accept later claims.

7.In case the Buyer does not like the item without any specific reason the item can be returned to the Auctioneer within 14 days of the day of a confirmed delivery to the customer checked by a tracking number and the Buyer will be reimbursed the sale price without the surcharge and shipping, or the item can be put in the auction again in the new owner’s name. In case the item relisted in the new owner’s name will be sold for less than it was purchased by the owner the right to compensation of the loss from the Seller or the person who put the item for initial sale is excluded.

8.Any claimed  item must be returned to the Company in the same condition in which it was handed over to the Buyer, unencumbered by the rights of third parties. The right to claim the purchased item, as well as any claims related thereto, are granted exclusively to the Buyer and may not be transferred/assigned to a third party. The Buyer's right to compensation for damages against the Company is excluded. If the item is cleaned, washed, artificially toned, scratched, unmounted, polished, tooled, repaired or in any other way damaged or altered it will not be accepted for any claim or return including their authenticity. The auctioneer is not obliged to make any corresponding money refund for it.

9. An item which was graded by NGC, PCGS or any other professional grading and authentication service can be claimed only directly with them. If the graded item was removed from the holder the claim will not be accepted by the Seller. It means that if you removed a coin from a NGC/PCGS holder then you will not be able to make any claim with the auctioneer or grading company.

10.The reclaimed item shall be returned by the Buyer after the confirmation of the Seller. The item should be returned in person or by special shipment without a COD, with the same title, description, and info, as received from the auction organizer for correct customs return process, insured for the price of the shipment, and the reasons for the claim must be stated in written form inside the package. Returned items must be in the same condition as when shipped.

11.Undelivered and returned items can be resent only after covering shipping costs by the customer. Since the returned parcels are charged by courier service differently, the customer must cover the shipping again in order to resend the parcel again.

12.We do not guarantee the authenticity of each single piece in group lots with more than 2 items in them. The Seller decides on the merits of the claim.

13.The Seller (the owner of the item or the person who put the auction item into the catalog) is responsible for 2 years from the auction date for the authenticity and the defects of the auction item that were or should be known to him and failed to notify the Company of those defects in time in the agreement/ contract. In the case the claim is recognised, the item is considered to be unsold. This item will be returned to the Seller (the owner or the person who put the item for sale) and he/she is obliged to immediately return the financial amount for this already paid-for item.

14.The Buyer's right to compensation for damages or costs incurred against the Seller is excluded.

15.The Seller is not responsible for the fact that the sold items listed in the catalog will be accepted for classification by a third party person or company and classified according to our rating/classification. E.g. The seller is not responsible that the item will receive grade MS and not AU or UNC Details after being reviewed by NGC or PCGS.

16.The Buyer can ask the Seller to send the item for review to the grading company only after the item was paid in full until the due date, otherwise the item is not the property of the Buyer and he/she cannot dispose of it. If the item is paid out of the due date, the Seller reserves the right to cancel the sale and refuse to send the item for review.

17.The Company, who can be a commissioner seller of any item, listed in a catalog, is not responsible if any items which have ever been sold through the platform turn out to be stolen or misused. Such a complaint should be dealt between Buyer and Seller directly. The commissioner reserves a right to provide contact details of the Seller in case of an official attorney request. The Seller is responsible for unlimited time for the item's origin and he/she confirms that the item belongs to him/her and is not an object of any official investigation process.

18.In the event that the Company shall be liable to the Buyer for damages, the Buyer agrees that its compensation shall be limited. The Company shall not be liable for any loss of profits or damages that would have occurred anyway. Only the property damage incurred, to the extent proven, shall be reimbursed up to the amount of the purchase price paid for the auction item. Furthermore, the Company shall not be liable to the Buyer for any damages to the auction items that occur during the Buyer's delay in taking possession of the auction items.

19.The Seller does not cover the fees, customs clearance or any other possible payments on the side of the Buyer.

VII. LIABILITY

To the fullest extent permitted by the applicable laws, we shall not be liable for any direct, indirect, incidental or consequential damages resulting from a defective Catalogued Item or any breach of an express or implied warranty or obligation (even if we have been advised of the possibility of such damages) exceeding the amount of the purchase price of the Catalogued Item purchased by you. As a result, our liability and your exclusive remedy for damages from any cause in connection with the order of the Catalogued Item from our Website shall be limited to the purchase price you paid for the Catalogued Item, as that is the maximum potential damage that we as well as you foresee at the moment of the purchase as you were advised to purchase the Catalogued Item sufficiently in advance.

IX. Force Majeure.

Parties are not responsible for partial or complete failure to fulfill obligations under this Contract if it was the result of force majeure, which could not be foreseen by the parties.

Namely: fire, flood, earthquake, other natural disasters, if these circumstances directly affect the execution of the sale and delivery of purchased and paid items, war or military actions occurred after the conclusion of the contract, as well as decisions by state authorities about the ban/tightening of export-import operations.

The same goes for robberies, or stolen items that have come to the auction organizer office as a break-in, which cannot be covered by insurance or by the Company/Seller, but the Company/Seller is obliged to inform the customer of all necessary information, police documents, etc. for helping to find the stolen items to give them back to the consignor or final customer.

 

X. Closing conditions

  1. Foreign participants of the auction are obliged to obtain a certificate pursuant to Act No. 71/1994 Coll. On the sale and export of cultural objects, as amended, when exporting numismatic material abroad. Certification is unnecessary for the export of coins and medals created less than 50 years ago.

  2. Foreign Customers must respect the current exchange rate, tax laws and other laws of the Czech Republic and their country of origin. Proper payment of applicable taxes, duties, and fees payable in the Czech Republic or abroad is the Buyer's & the Seller’s responsibility.

  3. The Seller confirms that items he/she put up for sale are his/her personal belongings from their private collection and are obliged to inform the commissioner about the historical or cultural value (heritage) of his/her items in advance and if there are some items belonging to this category, the Seller has to provide all the documentation for possibility of international transportation and sale purposes (e.g. documents from an official cultural heritage authority expert). The Seller takes all responsibility if he/she knowingly or unknowingly violates any restrictions in this field.

  4. The regulation of Items of Cultural Value is contained primarily in Act No. 71/1994 Coll., on the sale and export of Items of Cultural Value, as amended ("Act on Sale and Export"). The Czech Republic is also a party to the UNESCO Convention on Means of Prohibiting and Preventing the Illicit Import, Export and Transfer of Ownership of Cultural Property, which is part of the Czech statutory law as Decree No. 15/1980 Coll.

  5. The Seller is obligated to provide the auctioneer with all required legal documents about his/her goods by commissioner request due to Council Regulation (EU) No. 2019/880 of 17 April 2019 on the introduction and import of cultural goods ("Import Regulation").

  6. In case of appropriate claims, the Seller must prove that the cultural goods have not been exported from the country in which they were created or discovered in violation of laws and regulations of that country.

  7. In case the Seller fails to comply with these rules, the commissioner is not responsible for the Seller’s items and their transportation and keeps the right to refuse the package custom clearance.

  8. Any court proceedings will be dealt with before the courts of the Czech Republic and under Czech law.

  9. The list of registered auction participants and the personal data of the auction participants are subject to the trade secret of the Auctioneer, and the auction participants, or anyone else, are not entitled to view them.

XI. Final Provision

These Terms are in the English language. If the Terms are required to be translated into another language for you, the English version prevails in case of discrepancies between the two language versions.

These Terms, the ordering or purchase of any Cataloged Items and any use of the Website shall be governed and controlled as to validity, enforcement, interpretation, construction, effect and in all other respects by the laws of the Czech Republic, without giving effect to any conflict of law principles that may provide the application of the law of another jurisdiction. To the fullest extent permitted, the United Nations Convention on Contracts for the International Sale of Goods or other provisions of the International Private Law, EU law and EU Regulations or Directives shall not apply, and in case of any discrepancy the Czech law prevails.

Consumers (Final Customers) in some jurisdictions may have legal rights under the applicable national legislation governing the sale of consumer goods, including, without limitation, national laws implementing EC Directive 99/44/EC. Please note that no provision in these Terms shall affect these statutory rights you may have.

If any provision of these Terms is held to be illegal, invalid or unenforceable in whole or in part, then these Terms shall continue to be valid as to the other provisions and the remainder of the affected provision. Any waiver of any of the provisions of these Terms by us shall not be deemed a waiver of any subsequent breach or default and shall in no way affect the other provisions of these Terms.

We may change or amend these Terms at any time and at our sole discretion. Any changes to or amendments of these Terms are effective immediately upon posting to the Website. By using the Website after any such changes or amendments you agree to comply with and be bound by the Terms as changed. Any purchases made before any such change of the Terms would be governed by the version of the Terms effective at the time of the purchase to avoid retroactivity.

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