Auction Terms and Conditions

Auction Terms and Conditions

The Auctioneer

The organizer of the voluntary, joint auction of movable items (hereinafter referred to as the "Auctioneer") is the legal company Bankovky.com s.r.o., IČ 085 04 661, with its registered office at Korunní 1237/50, Vinohrady, 120 00 Prague 2. The auction is held in accordance with Act No. 26 / 2000 Coll., Act on Public Auctions (hereinafter referred to as the "Act") The auctioneer acts in the auction as an intermediary for the sale of items entrusted to the auction. In return, he is entitled to remuneration for arranging the sale of the item and to reimburse the costs incurred in connection with the auction in the form of and auction surcharge (buyer's premium).

Auction participants

Only persons eligible for the legal proceedings who registered in the LiveBid.cz system, fill in all the necessary data and their registration is approved by the administrator can participate in the auction. Any auction participant unknown to the auctioneer may be asked for guarantees or trade references. After logging in, registered bidders can submit limits on specific items in the particular auction via the LiveBid.cz system, or bid in real time in a live auction. The auction participant is obliged to respect the auctioneer's auction rules.

Types of Auctions

The room auction - an auction that takes place on a predetermined date and time at the place specified in the auction catalogue. This auction takes place in the room; The auction is conducted by the Auctioneer, the bidders in the room (or on the phone) and the bidders on the Internet via the LiveBid.cz auction system in real time can participate in the action. Before the start of the room auction, it is possible to enter online limits in the LiveBid.cz system; the current prices are displayed immediately.

Internet auction (eAuction) - an auction that takes place on a predetermined date and time specified in the auction catalog. This auction takes place only electronically on the Internet, only registered users can place bids via the LiveBid.cz auction system in real time. Before starting the online auction, you can enter online limits in the LiveBid.cz system; the current prices are displayed immediately.

The course of the auction

The auction starts on the specified date and time; Only a registered and logged in Auction participant may bid on the auctioned items. It is auctioned in Czech crowns (CZK) from the starting price (which cannot be reduced), or from the amount of the penultimate limit. The bidding increments are determined by the table of auction bids. The subject of the auction is sold to the highest bidder.

The auction is anonymous; The auction participants in the room make bids by picking up the assigned number, the auction participants via the internet by clicking on the Bid button. It is auctioned if the auction participants in the auction make a higher bid; by awarding the hammer, the auction is closed. The auction participants are bound to purchase won items and settling the price. If the lowest bid has not been made in the auction, the item remains unsold. The auction ends with the auction of the last offered item.

The selling price of the particular item and the auction winner are finally determined only in the room auction or in the live internet auction. The inserted limit takes precedence over the bid in the room in the same amount. The auction participant in the room or in the live auction must therefore always offer a higher amount. Unless the auctioneer specifies otherwise, the auction is in the order in the catalogue.

Bidding increments:

Payment of the price achieved by auction

The successful auction participant is obliged to pay the achieved price by auctioning, including an auction surcharge (buyer’s premium) of 20%. Payment for auctioned items is accepted in Czech crowns (CZK) and in freely convertible currencies (according to the current exchange rate list of the auctioneer's bank) in cash at the auctioneer's registered office, by transfer to a bank account, cash on delivery, or otherwise determined by the auctioneer. Unless otherwise agreed, payment must be made within 14 calendar days from the date of the auction. The method of payment and the method of taking over the auctioned item must be set in the tab My account - Payment and transport settings. The price achieved by the auction cannot be additionally reduced.

Acquisition of owner rights to the auctioned item

Until the auctioned item is handed over to the auction participant, the auctioneer has the rights and obligations of the custodian. If the successful auction participant pays the price achieved by the auction, including the set 20% surcharge within the specified period, the ownership of the item auctioned passes to him. The auctioned items can be taken over in person at the address of the auctioneer's registered office (Korunní 1237/50, Prague 2), or, after previous wire payment, can be sent by post as insured letter or taken over in another pre-agreed manner. The auction participant is obliged to confirm the receipt of the auctioned item with his signature in the duplicate of the document on the acquisition of the item in the auction. The proof of acquisition of the item at auction is a written confirmation of acquisition of ownership, handed over to the auction participant or sent together with the auctioned items in a postal item. If the auction participant does not pay the price of the item achieved by the auction, including all surcharges within the specified period, this is considered a cancellation of the auction. Such an item is then considered unsold with all the consequences for both the auctioneer and the item owner. The auctioneer is entitled to bill the auction participant who cancelled the auction for all costs incurred by this cancelled auction, including expenses associated with the recovery of this claim.

After sale complaint

The authenticity and quality stated in the description are guaranteed for all auction items. Complaints about quality are not possible for the subject of the auction, where the quality is determined by a third party (so-called grading). Complaints are also not possible for an auction item that contains several pieces.

Auction participants who have demonstrably not participated in the viewing of the auction items may file a complaint within three days of receipt of the shipment or within the same day for personal collection. Complained items are required to be returned in valuable writing without cash on delivery, insured for the price of the shipment, and it is necessary to state the reasons for the complaint. The auctioneer decides on the justification of the complaint. Pursuant to Section 63, Paragraph 1 of the Act, the applicant (owner of the thing or the person who placed the thing in the auction) is liable for defects in the auction, which were or should have been known when submitting the bid for the auction and did not notify the auctioneer in time in the auction contract. In the case of a recognized complaint, such an item is considered unsold. This item will be returned to the applicant and he is obliged to return the financial amount for this item already paid without delay.

Notices

When exporting numismatic material abroad, foreign participants in the auction are obliged to obtain a certificate pursuant to Act No. 71/1994 Coll. on the sale and export of objects of cultural value. These certificates are issued by the National Museum in Prague, the Moravian Museum in Brno or the Silesian Museum.

The list of registered bidders, written limits and personal data of the bidders are subject to the trade secret of the auctioneer and the participants in the auction, or anyone else, are not entitled to inspect them.

The general courts of the Czech Republic, with local jurisdiction in Prague, are competent to resolve disputes arising from the course of the auction, these auction rules and the implementation of the auction.