Collectible Services OU
Terms and Conditions
1.1. Auction Basics. This is a public auction sale (“Auction Sale”) conducted by Collectible Services OU (hereinafter referred to as “Auctioneer” and at times as “Collectible Services OU”). Bidding in this Auction Sale constitutes acceptance by you (“Bidder”) of all the Terms of Sale stated herein. Bidders may include consignors who may bid and purchase lots in the Auction Sale consigned by the consignor or by other consignors pursuant to their consignment agreement with Collectible Services OU (“Consignor” or “Consignors”). A Consignor that bids on their own lots in the Auction Sale may pay a different fee than the Buyer’s Premium charged to all other Buyers. Collectible Services OU reserves the right to include in any auction sale its own material as well as material from affiliated or related companies, principals, officers or employees. Collectible Services OU may have direct or indirect interests in any of the lots in the auction and may collect commissions. Where the Consignor has repurchased a lot and the lot is either returned to the Consignor or otherwise dealt with or disposed of in accordance with the Consignor’s direction, or pursuant to contractual agreement, Collectible Services OU reserves the right to so note in the prices realized or to omit a price from the prices realized. Collectible Services OU may bid for their own account at any auction. Collectible Services OU may have information about any lot that is not known publicly, and Collectible Services OU and its affiliates reserves the right to use such information, in a manner determined solely by them and for their benefit, without disclosing such information in the catalogue, description or at the auction. Bidder acknowledges and agrees that Collectible Services OU and its affiliates are not required to pay a Buyer’s Premium, or other charges that other Bidders may be required to pay and may have access to information concerning the lots that is not otherwise available to the public. Any claimed conflict of interest or claimed competitive advantage resulting there from is expressly waived by all participants in the Auction Sale. Lots may carry a reserve (“Reserve”). A Reserve is a price or bid below which the Auctioneer will not sell an item or will repurchase on behalf of the Consignor or for Collectible Services OU. Reserves may be confidential and not disclosed. The Buyer is the Bidder who makes the highest bid accepted by the Auctioneer, and includes the principal of any Bidder acting as an agent.
1.2. Descriptions and Grading. Bidder acknowledges that grading of most currency in this Auction has been determined by independent grading services, and those that are not may be graded by Collectible Services OU. Grading of rare currency is subjective and, even though grading has a material effect on the value of the currency, grading may differ among independent grading services and among numismatists. Collectible Services OU is not responsible for the grades assigned by independent grading services, and makes no warranty or representation regarding such grades. Bidder further acknowledges and agrees that grades assigned by Collectible Services OU and lot descriptions are based solely upon an examination of the currency and are intended to identify currency and note any perceived characteristics. However, currency grading and descriptions are subjective. Collectible Services OU does not warrant the accuracy of such grading or descriptions, nor do they in any way form the basis for any bid. All photographs in this catalog are of the actual items being sold but may not be the actual size or to scale.
1.3. The Bidding Process. The Auctioneer shall have the right to open or accept the bidding on any lot by placing a bid on behalf of the Consignor or his or her agent; a Bidder by Email or Internet in the Auction Sale. Bids must be for an entire lot and each lot constitutes a separate sale. All bids must be on increment as established by the Auctioneer. Non-conforming bids will be rounded down to the nearest full increment and this rounded bid will be the bidder’s high bid. No lot will be broken up unless otherwise permitted by the Auctioneer. Lots will be sold in their numbered sequence unless Auctioneer directs otherwise. All material shall be sold in separate lots to the highest Bidder as determined by the Auctioneer. Auctioneer shall have the right in its sole and absolute discretion to accept or decline any bid, establish bid increments, challenge any bid or bidding increment. The Auctioneer shall have the right, but not the obligation, to rescind the acceptance of any bid and place the lot(s) for Auction Sale again. Auctioneer’s decision on all bidding disputes shall be binding and final. For the Email and Internet Bidder’s protection, no “unlimited” or “buy” bids will be accepted. When identical bids are received for a lot, preference is given to the first bid received as determined by the Auctioneer. An Email bid will take precedence over an identical Live Internet Bidder must bid higher than the highest Email bid to be awarded any lot. Bids will not be accepted from persons under eighteen (18) years of age without a parent’s written consent which acknowledges the Terms of Sale herein and agrees to be bound thereby on behalf of the underage Bidder. The auction sale is complete when the Auctioneer so announces by the fall of the hammer or in any other customary manner.
The auction sessions, will be conducted exclusively over the Internet, and bids will be accepted only from pre-registered Bidders.
COLLECTIBLE SERVICES OU IS NOT RESPONSIBLE FOR ANY ERRORS IN BIDDING. All Bidders should make certain to bid on the correct lot and that the bid is the bid intended. Once the hammer has fallen and the Auctioneer has announced the Buyer, the Buyer is unconditionally bound to pay for the lot, even if the Buyer made a mistake. Collectible Services OU reserves the right to withdraw any lot at any time, even after the hammer has fallen, until the Buyer has taken physical possession of the lot. No participant in the Auction Sale shall have a right to claim any damages, including consequential damages if a lot is withdrawn, even if the withdrawal occurs after the Auction Sale.
1.4. Bidder Registration Required. All persons seeking to bid must complete and sign online, or otherwise qualify to bid, as determined in the sole discretion of the Auctioneer. By submitting a bid, the Bidder acknowledges that Bidder has read the Terms and Conditions of Auction Sale, the descriptions for the lot(s) on which they have bid, and that they agree to be bound by these Terms of Sale. This agreement shall be deemed to have been made and entered in Tallinn/ Estonia. The Bidder acknowledges that the invoice describing a lot by number incorporates the catalog and Terms of Sale.
1.5. Buyer’s Premiums. A premium of sixteen percent (16%) based upon the total amount of the hammer, will be added to all purchases of individual lots, regardless of affiliation with any group or organization (the “Buyer’s Premium”). A reacquisition charge may apply to Consignors pursuant to a separate agreement, which may be higher or lower than the Buyer’s Premium.
1.6. Payment. Payment is due immediately upon the fall of the auctioneer’s hammer. Payment is delinquent and in default if not received in full, in good funds, within fourteen (14) calendar days of the Auction Sale (the “Default Date”), without exception, time being of the essence. Unless otherwise agreed in writing prior to the Auction Sale, all auction sales are payable strictly in Euro. All invoices will be made in Euro. If paying in different currency, Buyer’s invoices will be credited with the amount of Euro received from Auctioneer’s bank. Payments may be made by credit card, Paypal, or wire transfer. Cash transactions will be accepted in the sole discretion of Collectible Services OU. Contact Collectible Services OU for wiring instructions before sending a wire. Bank wires sent from a foreign bank (outside European Union) are subject to an international bank wire fee of €25. We accept payment by Visa, MasterCard or Paypal with a commission fee of 2% for Credit Cards and 3% through Paypal for amounts over 2000Euros. All payments are subject to a clearing period. Collectible Services OU reserves the right not to release lots for which good funds have not yet been received. On any past due accounts, Collectible Services OU reserves the right, without notice, to extend credit and impose carrying charges (as described below). Buyers agree to pay reasonable attorney’s fees and cost incurred to collect past due accounts. Buyers personally and unconditionally guarantee payment in full of all amounts owed to Collectible Services OU. Any person submitting bids on behalf of a corporation or other entity, by making such bid, agrees to be personally jointly and severally liable for the payment of the purchase price and any related charges and the performance of all Buyer obligations under these Terms of Sale and Collectible Services OU reserves the right to require a written guarantee of such payments and obligations. Bidders who have not established credit with Collectible Services OU must furnish satisfactory information and credit references and/or deposit at least twenty-five percent (25%) of their total bids for that Auction Sale session(s) or such other amount as Collectible Services OU may, in its sole and absolute discretion require before any bids from such Bidder will be accepted. Deposits submitted will be applied to purchases. Any remaining deposits will be promptly refunded, upon clearance of funds.
1.7. Sales Tax. Buyers will be charged all applicable sales tax, including Buyers who pick up at this Auction or shipments to Buyers in Tallinn/ Estonia. The VAT for items sold and picked up in Estonia is added at the final value of the invoice and is equivalent to 20% of the final amount of the invoice. Purchases of currency are exempt from VAT when is delivered outside Estonia. Please note, this is not, and is not intended to be, a complete description of applicable sales tax laws in all jurisdictions. In the event any applicable sales tax is not paid by Buyer that should have been paid, even if not such tax was not collected by Collectible Services OU by mistake, error, negligence or gross negligence, Buyer nonetheless remains fully liable for and agrees to promptly pay such taxes on demand, together with any interest or penalty that may be assessed by the taxing authority.
1.8. Financial Responsibility. In the event any applicable conditions of these Terms of Sale herein are not complied with by a Buyer or if the Buyer fails to make payment in full by the Default Date, Collectible Services OU reserves the right, in its sole discretion, in addition to all other remedies which it may have at law or in equity to rescind the sale of that lot or any other lot or lots sold to the defaulting Buyer, retaining all payments made by Buyer as liquidated damages, it being recognized that actual damages may be speculative or difficult to compute, and resell a portion or all of the lots held by Collectible Services OU, in a commercially reasonable manner, which may include a public or private sale, in a quantity sufficient in the opinion of Collectible Services OU to satisfy the indebtedness, plus all accrued charges, and Collectible Services OU may charge a seller’s commission that is commercially reasonable. More than one such sale may take place at the option of Collectible Services OU. If Collectible Services OU resells the lots, Buyer agrees to pay for the reasonable cost of such sale, together with any incidental costs of sale, including reasonable attorney’s fees and costs, cataloging and any other reasonable charges. Notice of the sale shall be by Registered Mail Service. Certified Mail, Return Receipt Requested to the address utilized on the Bid Sheet, Auction Consignment and Security Agreement or other last known address by Collectible Services OU. The proceeds shall be applied first to the satisfaction of any damages occasioned by Buyer’s breach, then to any other indebtedness owed to Collectible Services OU, including without limitation, commissions, handling charges, carrying charges, the expenses of both sales, seller’s fees, reasonable attorneys’ fees, costs, collection agency fees and costs and any other costs or expenses incurred. Buyer shall also be liable to Collectible Services OU for any deficiency if the proceeds of such sale or sales are insufficient to cover such amounts.
Buyer grants to Collectible Services OU, its affiliates and assignees, the right to offset any sums due, or found to be due to Collectible Services OU, and to make such offset from any past, current, or future consignment, or purchases that are in the possession or control of Collectible Services OU; or from any sums due to Buyer by Collectible Services OU, its affiliates and assignees. In addition, defaulting Buyers will be deemed to have granted to Collectible Services OU, its affiliates and assignees, a security interest in: (x) the purchased lots and their proceeds, and (y) such sums or other items and their proceeds, in the possession of Collectible Services OU, its affiliates or assignees, to secure all indebtedness due to Collectible Services OU and its affiliated companies, plus all accrued expenses, carrying charges, seller’s fees, attorney fees, and costs, until the indebtedness is paid in full. If the auction invoice is not paid for in full by the Default Date, a carrying charge of one-and-one-half percent (1-1/2%) per month may be imposed on the unpaid amount until it is paid in full. In the event this interest rate exceeds the interest permitted by law, the same shall be adjusted to the maximum rate permitted by law, and any amount paid in excess thereof shall be allocated to principal. Buyer agrees to pay all reasonable attorney’s fees, court costs and other collection costs incurred by Collectible Services OU or any affiliated or related company to collect past due invoices or to interpret or enforce the terms hereof or in any action or proceeding arising out of or related to the Auction Sale. Collectible Services OU reserves the right to assign its interest to any third party. To the extent that the Buyer for any lot consists of more than one person or entity, each such person or entity is jointly and severally liable for all obligations of the Buyer, regardless of the title or capacity of such person or entity. Collectible Services OU shall have all the rights of a secured creditor under the Estonian Commercial Code and all rights of the consignor to collect amounts due from the Buyer, whether at law or equity.
1.9. Shipping. It is the Buyer’s responsibility to contact Collectible Services OU after the sale to make shipping and packaging arrangements. In general the Shipping expenses is 10€ for Registered Mail Service and 25€ for EMS service such as DHL, for winning lots over 300€ of value per order. Due to the fragile nature of some lots, Collectible Services OU may elect not to assume responsibility for shipping or packing, or may charge additional shipping and handling. Lots indicated as being “framed” or that are specifically identified in the catalog are shipped at Buyer’s risk. All taxes, postage, shipping, if applicable, handling, insurance costs, the Buyer’s Premium, and any other fees required by law to be charged or collected will be added to the invoice for any lots invoiced to Buyer. For any lots delivered outside the European Union, the declaration value shall be the item’(s) hammer price plus its buyer’s premium. Auctioneer shall not be liable for any loss caused or resulting from seizure or destruction under quarantine or customs regulation or confiscation by order of any government or public authority. Title and risk of loss pass to the Buyer at the destination upon tender of delivery. Acceptance of delivery constitutes acceptance of the purchased lots. Inspection of the purchased lots is not required for acceptance. Any and all claims based upon Buyer’s failure to receive a purchased lot, Buyer’s receipt of a lot in damaged condition, or otherwise related to delivery, must be received in writing by Collectible Services OU no later than the earlier of thirty (30) days after payment, or the date of the Auction Sale (the “Outside Claim Date”). As Buyers may not receive notification of shipment, it is Buyer’s responsibility to keep track of the Outside Claim Date and make timely notification of any such claim. The failure to make a timely claim, time being of the essence, shall constitute a waiver of any such claim. Orders paid by credit card will only be shipped to the verified address on file with the credit card merchant.
1.10. DISCLAIMER AND WARRANTIES. NO WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE IS MADE OR IMPLIED ON ANY LOT. NO WARRANTY, WHETHER EXPRESSED OR IMPLIED, IS MADE WITH RESPECT TO ANY LOT EXCEPT FOR WARRANTY OF TITLE, AND IN THE CASE OF TITLE, AUCTIONEER IS SELLING ONLY THAT RIGHT OR TITLE TO THE LOT THAT THE CONSIGNOR MAY HAVE AS OF THE AUCTION SALE DATE. ALL LOTS ARE SOLD “AS IS” AND WITH ALL FAULTS. PURCHASER HEREBY ASSUMES ALL RISKS CONCERNING AND RELATED TO THE GRADING, QUALITY, DESCRIPTION, CONDITION, AUTHENTICITY, AND PROVENANCE OF A LOT.
1.10.a. CURRENCY LISTED IN THIS CATALOG GRADED BY PCGS, ICG, PCGS CURRENCY, PMG, PCGS BANKNOTE GRADING OR ANY OTHER THIRD PARTY GRADING SERVICE OR EXAMINED BY THE BUYER PRIOR TO THE AUCTION SALE MAY NOT BE RETURNED FOR ANY REASON WHATSOEVER BY ANY BUYER, EXCEPT FOR CLAIMS RELATED TO AUTHENTICITY.
1.10.b. For non-certified currency that have not been examined by the Buyer prior to the Auction Sale: if it is determined in a review by Collectible Services OU that there is a material error in the catalog description of a non-certified currency or the currency is not authentic, such lot may be returned, provided written notice is received by Collectible Services OU no later than seventy-two (72) hours of delivery of the lots in question, and such lots are returned and received by Collectible Services OU, in their original, sealed containers, no later than fourteen (14) calendar days after delivery, in the same condition the lot(s) were delivered to the Buyer, time being of the essence.
1.10.c. If an item or items are returned pursuant to the terms herein, they must be housed in their original, sealed and unopened container.
1.10.d. Late remittance or removal of any item from its original container, constitutes just cause for revocation of all return privileges.
1.10.e. Grading or condition of currency may have a material effect on the value of the item(s) purchased, and the opinion of others (including independent grading services) may differ with the independent grading services opinion or interpretation of Collectible Services OU. Collectible Services OU shall not be bound by any prior, or subsequent opinion, determination or certification by any independent grading service.
1.10.f. All oral and written statements made by Collectible Services OU and its employees or agents (including affiliated and related companies) are statements of opinion only, and are not warranties or representations of any kind, unless stated as a specific written warranty, and no employee or agent of Collectible Services OU has authority to vary or alter these Terms and Conditions of Auction Sale. Collectible Services OU reserves the right to vary or alter the Terms of Sale, either generally or with respect to specific persons or circumstances, in its sole discretion. Any variation or alteration shall be effective only if in writing and signed by an officer of Collectible Services OU authorized to do so.
1.10.g. Collectible Services OU is acting as an auctioneer. Title to the lots purchased passes directly from the Consignor to the Buyer. Accordingly, Collectible Services OU is not making, and disclaims, any warranty of title.
1.10.h. Bidders shall have no recourse against the Consignor for any reason whatsoever.
1.10.i. Bidder acknowledges that the currency market is speculative, unregulated and volatile, and that currency (papemoney) prices may rise or fall over time. Collectible Services OU does not guarantee or represent that any customer buying for investment purposes will be able to sell for a profit in the future.
1.10.j. Bidder acknowledges and agrees that neither Collectible Services OU, nor its employees, affiliates, agents, third-party providers or consignors warrant that auctions will be unimpaired, uninterrupted or error free and accordingly shall not be liable for such events.
1.11. Waiver and Release. Bidder, for himself, his heirs, agents, successors and assignees, generally and specifically waives and releases, and forever discharges Collectible Services OU, and its respective affiliates, parents, officers, directors, shareholders, agents, subsidiaries, employees, managers and members and each of them, and their respective successors and assignees from any and all claims, rights, demands and causes of actions and suits, of whatever kind or nature, including but not limited to claims based upon Auctioneer’s negligence, whether in law or equity, tort or otherwise, whether known or unknown, suspected or unsuspected (a “Claim”), which Bidder may assert with respect to and/or arising out of, or in connection with any challenge to the title to or authenticity of any goods purchased, the sale itself, any lot bid upon or consigned, and/or the auction, except where such Claim is otherwise expressly authorized in these Terms of Sale. It is the intention of Bidder that this waiver and release shall be effective as a bar to each and every Claim that may arise hereunder or be related to the Auction Sale, and Bidder hereby knowingly and voluntarily waives any and all rights and benefits otherwise conferred upon him by the provisions of Estonian Civil Code.
1.12. Disputes. If a dispute arises concerning ownership of a lot or concerning proceeds of any sale, Collectible Services OU reserves the right to commence a statutory inter-pleader proceeding at the expense of the Consignor and Buyer and any other applicable party, and in such event shall be entitled to its reasonable attorneys’ fees and costs. Collectible Services OU reserves the right to cancel or postpone the Auction Sale or any session thereof for any reason whatsoever. No Bidder shall have any claim as a result thereof, including for incidental or consequential damages. Neither Collectible Services OU nor any affiliated or related company shall be responsible for incidental or consequential damages arising out of any failure of the Terms of Sale, the auction or the conduct thereof and in no event shall such liability exceed the purchase price, premium, or fees paid. Rights granted to Bidders under the within Terms and Conditions of Auction Sale are personal and apply only to the Bidder who initially purchases the lot(s) from Collectible Services OU. The rights may not be assigned or transferred to any other person or entity, whether by sale of the lot(s), operation of law or otherwise. Any attempt to assign or transfer any such rights shall be absolutely void and unenforceable. No third party may rely on any benefit or right conferred by these Terms and Conditions of Auction Sale.
1.13. General Terms. These Terms and Conditions of Auction Sale and the auction shall be construed and enforced in accordance with, and governed by, the laws of the Estonian Republic, regardless of the location of the Auction Sale. These Terms of Sale and the information on the Collectible Services OU website constitute the entire agreement between the parties hereto on the subject matter hereof and supersede all other agreements, understandings, warranties and representations concerning the subject matter hereof. If any section of these Terms of Auction Sale or any term or provision of any section is held to be invalid, void, or unenforceable by any court of competent jurisdiction, the remaining sections or terms and provisions of a section shall continue in full force and effect without being impaired or invalidated in any way. Collectible Services OU may at its sole and absolute discretion, make loans or advances to Consignors and/or Bidders.
Bidding in this auction sale constitutes unconditional acceptance by the Bidder of the foregoing terms of sale.
Please note: Transparent holders in which the auction lots are stored are to facilitate viewing and inspection of the lots and ARE NOT for long-term storage.
For PRICES REALIZED after the sale, call +30 6942-260-668. Preliminary prices realized will also be posted on the Internet soon after the session closes.