Monetarium Auction 22

TERMS & CONDITIONS Buyer's Premium is TWENTY-TWO (22)% on hammered price plus 7% GST on the commission is charged (TOTAL = 23.54%) PREVIEWING OF LOTS: Inspection of Lot(s) is on 18th (Thursday) & 19th (Friday) October 2018, 10am to 5pm, at our shop. MONETARIUM SINGAPORE: No.1, Coleman Street, Unit#02-34, The Adelphi, Singapore 179803 by appointment. 1. BIDDER / BUYER a) Buyer's Premium is TWENTY-TWO (22)% on hammered price plus 7% GST on the commission is charged (TOTAL = 23.54%). b) By registration with this Auction, every applicant/bidder is deemed to have agreed and accepted to abide by all the terms and conditions of the Auction. c) Applicants are to fully comply with Auctioneer's requests for relevant information, prior to approval to participate in this Auction. d) All bidders are strongly encouraged to examine personally the Lot(s) they are interested in, before the auction. Satisfy oneself as to the accuracy of the purchases done at the time of delivery. e) Every Lot purchased will be at the Buyer's risk from the fall of the hammer. f) All successful bidders must complete full payment of the full amount, which includes Buyer's Premium, GST, Freight, Handling and Insurance costs before the dispatch of the purchased items within fourteen (14) days of the invoice. The Buyer will not have title to the Lot until it is fully paid for, and shall not have the Lot until the Auctioneer receives full payment. Interest is charged on overdue amount. g) ALL BANK CHARGES IN CURRENCY TRANSFERS SHALL BE BORNE BY THE BUYER. h) No Lot shall be returned after the sale. i) If the Buyer fails to make full payment after 14 days of the invoice, the Auctioneer is entitled to take any appropriate action deemed fit, not excluding to cancel the sale of the Lot(s), and to arrange a resale of the Lot(s). Should this result to be lower than the invoice price, to recover the balance costs from the Buyer. j) These conditions shall take effect and shall be construed and interpreted in accordance with the provision of the Singapore Law. k) The Consignor is not allowed to bid on his own property or engage anyone to bid on his behalf. Any such bids will be deemed as void. l) Incomplete and none payment of successful bids will be reported. The bidder will be barred from future auctions. Identity of such bidders will also be made known to other auctions and related platforms. m) The onus is on the Buyer to be aware of and comply with any applicable Customs or import rules, regulations or restrictions that prohibit the flow of certain items. 2. RESERVED PRICE The Auction sale is subject to a reserve price for each Lot specified to the auctioneer by the consignor. 3. AUCTIONEER?S RIGHTS The Auctioneer reserves the following rights: a) To refuse admission to any person or reject him/her from the Auction. b) To accept or refuse any bid without having to state any reason. c) To keep secret the reserve price of any Lot. d) To reject any bid, refuse to acknowledge any bidder, withdraw from sale, or pass the Lot(s) described in the catalogue, regulate the bidding and its increments. e) To rearrange auction items by dividing or combining Lot(s) to facilitate sales. f) To bid on behalf of any purchaser or vendor with or without his closure. g) To offer and sell the Lot immediately by private arrangements, in the event that any Lot is not sold, or full payment not received by due date. h) The Auctioneer shall have absolute discretion to determine who is the successful bidder, thereafter known as Buyer. 4. DISCREPANCIES a) All images and text in the Auction catalog and the Internet auction platform are for illustration purposes only; condition and description of Lots are merely statements of opinion, and are not to be relied on as definitive fact. b) Some material in the Auction are provided by third parties, and the Auctioneer shall not be held responsible for any such material. The Auctioneer accepts no responsibility of any errors, omissions, inaccuracies and typographical errors. c) In the event of any discrepancy, the Auctioneer shall have absolute discretion to settle it, and may re-submit the Lot(s) for sale at the Auction. 6. ABSENTEE BIDDER a) Low estimate will be our starting bid. b) Bids may be also made by post, fax, email, telephone, and on the floor (latest received by 19th October 2018). c) Telephone bids must be confirmed by writing. d) That the Auctioneer accepts no responsibility of any errors or omissions. e) When more than one bid of the same amount is received, the first highest bid received will be the buyer, subject to bids from the floor. f) All bids must be kept to the indicated bidding increments. g) The Auctioneer shall attempt to purchase any Lot at the lowest possible price. h) Bidders should give full details on how the Lot(s) should be dispatched. The invoice amount including Buyer's Premium, GST, Freight, Handling and Insurance costs must be fully received prior to Lot(s) being dispatched to successful bidders. 7. DISCLAIMER OF LIABILITY The Buyer must acknowledge: a) The Auctioneer is not responsible for errors, omissions or failures to execute bids, caused by loss or delay of telephone or Internet connection by any party regardless. c) That the Buyer is solely responsible to check the bids and Lots. d) The bids lodged cannot be returned. e) That the Auctioneer is not liable for any defaults of the Buyer(s) or Consignor(s). f) The Auctioneer shall use reasonable endeavours to take reasonable care when handling and packing a purchased Lot but remind the Buyer that every Lot purchased will be at the Buyer's risk from the fall of the hammer. g) It is the responsibility of the Buyer to be aware of any cross border duties that may be incurred. The onus is on the Buyer to be aware of and comply with any applicable Customs or import rules, regulations or restrictions that prohibit the flow of certain items. The Auctioneer will not accept return of the Lot(s) under these circumstances, and will not accept responsibility for the Lot(s) seized, destroyed or conditions imposed by Customs. h) Freight is by SingPost, or by FedEx. The Auctioneer is not responsible for the errors and damages made by them, in transit. i) The Auctioneer is not liable or responsible for any death or personal injury resulting from negligence; or any damage or liability incurred by the Lot(s) and the Auction. The Buyer agree to defend, indemnify, and hold harmless the Auctioneer, its directors, employees and agents, from and against any losses, liabilities, damages, costs, and expenses, including, without limitation, reasonable legal, expert and accounting fees, incurred in connection with any claims, actions or demands alleging or resulting from your use of the material, your breach of this Terms and Conditions, or your violation of law or of the rights of any third party. 8. GRADING The Auctioneer is not responsible for the grades of coins and banknotes graded by any 3rd party grading companies. If there are any disputes, the Buyer is to refer to the respective grading company. Grading Guide - Definitions of terms, refer to reference books: (P, PS) - Standard Catalog of World Paper Money by Krause Publications (KM, Y) - Standard Catalog of World Coins by Krause Publications (KNB) - Malaysia, Brunei, & Singapore Banknotes & Coins by K.N. Boon 9. BIDDING INCREMENTS 1 - 100 $5 100 - 200 $10 201 - 500 $20 501 - 1,000 $50 1,001 - 2,000 $100 2,001 - 5,000 $200 5,001 - 10,000 $500 >10,001 $1,000 10. MISCELLANEOUS Estimates: The figures in the list printed below each Lot are the Auctioneer's estimation of the expected price and are published as a guide for buyers. Prices Realized: A list of prices realized will be available made available on the Auctioneer's website and social media platforms, after the Auction. 11. PAYMENT All payment shall be made in SINGAPORE DOLLARS in the form of cash below SGD20,000 or cheques drawn on a Singapore clearing bank, or by means of a Bank draft or Telegraphic transfer directly to the Auctioneer's bank account, quoting the invoice number. Buyers will be responsible to the Auctioneer for ALL bank charges and any difference in the exchanged notes upon conversion should they choose any other currency payment. ALL BANK CHARGES IN CURRENCY TRANSFERS SHALL BE BORNE BY THE BUYER. - Additional 5% surcharge by PayPal. - Additional 3.5% surcharge by AMEX credit card; other credit cards are not accepted. 12. FULL SETTLEMENT: No items will be dispatched until the Auctioneer receives full payment. Full settlement is due within fourteen (14) days of the invoice. Any overdue amount owing will be subject to an interest of 2% per month, in accordance with the Auction?s terms and conditions. Payment by SINGAPORE DOLLARS cheque / Bank draft and Electronic/Telegraphic transfer to: MONETARIUM AUCTIONS Bank name: UNITED OVERSEAS BANK LIMITED Bank code: 7375 Account No.: 372 300 6595 Swift Code: UOVBSGSG Bank branch: COLEMAN Bank branch code: 046 All Terms and Conditions are subject to change without prior notice.