Monetarium Auction 16

TERMS & CONDITIONS 1. Purchaser Before making a bid at the auction, every purchaser must agree to the following: 1.1. Complete and sign a registration form 1.2. Satisfy oneself as to the accuracy of the purchases done at the time of delivery. 1.3. Every Lot purchased will be at the buyer's risk from the fall of the hammer. 1.4. All Purchases must be settled within 7 days after the auction. 1.5. Interest will be charged at 2% per month for overdue payment. 1.6. No Lot shall be returned 30 days after the sale 1.7. A "Buyer's Premium" of 15% on the hammered price plus 7% GST on the commission will be charged (Total=16.05%), however there will be no additional charge for executing bids. Internet bidders will be required to pay an addition 3% on the Buyer's Premium, totaling 18% + GST (Total=19.26%). 1.8. All sales prices are in Singapore Dollars. 1.9. The purchaser shall not have the Lots until they are fully paid for. 1.10. These conditions shall take effect and shall be construed in accordance with the provision of the Singapore Law. 2. Reserve price The Auction sale is subject to a reserve price for each Lot specified to the auctioneer by the vendor. 3. Auctioneer's Rights The Auctioneer reserves the following rights: 3.1. To refuse admission to any person or eject him/her from the auction room. 3.2. To accept or refuse any bid without having to state any reason. 3.3. To keep secret the reserve price of any Lot. 3.4. To withdraw from sale any Lot described in the catalogue 3.5. To rearrange auction items by dividing or combining Lots to facilitate sales. 3.6. To bid on behalf of any purchaser or vendor with or without his closure. 3.7. To offer and sell the Lot immediately by private arrangements, in the event that any Lot is not sold. 4. Discrepancies 4.1. All images and text in the catalog and online, are for illustration purposes only; actual condition of Lots may differ, all bidders are to examine actual physical Lots personally. 4.2. In the event of any discrepancy, the auctioneer shall have absolute discretion to settle it, and may re-submit the Lot for sale at the auction. 5. Bidder 5.1. The highest bidder shall be the purchaser and the auctioneer shall be the sole judge of who the highest bidder is. 5.2. The seller is not allowed to bid on his own property or engage anyone to bid on his behalf. 6. Postal Bidder 6.1. Bids may be also made by post, fax or telephone. 6.2. Telephone bids must be confirmed by writing. 6.3. The auctioneer shall not be responsible for mistake in telephone communications. 6.4. Please return commission-bidding forms as soon as possible since bids are recorded according to the order of the forms received. 6.5. When more than one bid of the same amount is received, the first highest bid received will be the buyer. 6.6. The auctioneer will normally increase each bid by a 10% jump. 6.7. All bids must be kept to the nearest multiple round figure e.g. $5, $10, $20 etc. 6.8. The auctioneer shall attempt to purchase any Lot at the lowest possible price. 6.9. There is no limit to bid for any number of Lots, just bear in mind to limit the overall amount purchased. 6.10. Bidders must settle the full amount, which includes postage, and insurance costs before the dispatch of the purchased items. 6.11. A "Buyer's Premium" of 15% on the hammered price plus 7% GST on the commission will be charged (Total=16.05%), however there will be no additional charges for executing bids. 7. Disclaimer of Liability The purchaser must acknowledge: 7.1. That the auctioneer accepts no responsibility of any errors or omissions. 7.2. That the purchaser is solely responsible to check the bids. 7.3. The bids lodged cannot be returned. 7.4. That the auctioneer is not liable for any defaults of the purchaser or vendor. 8. Grading The auctioneers are not responsible for the grades of coins and banknotes graded by any 3rd party grading companies. If there are any disputes, the buyer has to refer to the respective grading company. 9. Bidding Increments From 1-100 increases in $5 increments From 101-200 increases in $10 increments From 201-500 increases in $20 increments From 501-1,000 increases in $50 increments From 1,001-2,000 increases in $100 increments From 2,001-5,000 increases in $200 increments From 5,001-10,000 increases in $500 increments From 10,001 increases in $1,000 increments or greater. ADVICE TO POSTAL BIDDERS 1. Return commission-bidding forms as soon as possible as bids are recorded in order of receipt. Where two bids for the same amount are received, the first highest bid to be received will be the buyer, subject of course to bids from the floor. 2. Bids may be accepted by Post, Fax or Telephone. Telephone bids must be confirmed in writing, as the auctioneer cannot be responsible for mistakes in telephone communication. 3. All commission bids are handled in the strictest confidence and, if successful, the lot is sold to the "book." No information regarding postal bids will be passed onto other postal bidders or room bidders prior to sale. 4. The auctioneer will normally increase bidding in 10% jumps. We would ask postal bidders to keep their bids to the nearest multiple round figure i.e. $5, $10, $20 etc. Bids such as $101 will be treated as $100, and similar odd amounts rounded down to the nearest actual bid at the auctioneer's discretion. 5. It is important to realize that the auctioneer will attempt to purchase the lot at the lowest possible price and that we understand that the bid given is the maximum figure the bidder is prepared to pay for any lot. 6. We are happy to handle bids for customers who are interested in a number of lots but wish to limit their overall purchases to a particular amount. Bidders are asked to mark their bids in the usual way and then clearly state the maximum amount they wish to spend overall. Similarly, bidders wishing to bid on a choice of two items should clearly indicate on the bidding form "either/or." 7. Bidders should give full details on both how the invoice is to be sent or transmitted and how the lots should be dispatched. Generally, the invoice amount including postage & insurance costs must be settled prior to lots being dispatched to successful bidders. 8. A Buyer's Premium of 15% plus 7% GST is charged on the hammer price and bids should be exclusive of this amount. No additional charges are incurred for executing bids on behalf of postal bidders. MISCELLANEOUS Commission Buying: All commissions handled by Monetarium (Singapore) Pte Ltd are treated in the strictest confidence and are "knocked down" to the "book." 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 Realised: A list of prices realized will be sent to bidders and consignors only. Others wishing to receive copies are asked to send in SGD$5. The auctioneers regret that it is impractical for accounts to be charged for a small amount. No list will be sent without full payment. PAYMENT Mode: Payment shall be made in Singapore Dollars in the form of cash or cheques drawn on a Singapore clearing bank, or by means of a banker's draft or telegraphic transfer directly to the auctioneer's bank account, quoting the original invoice number. We accept only AMEX credit card; other credit cards and PayPal payments are no longer accepted. Currency: The sale will be conducted in Singapore Dollars. Full settlement will also be expected to be in Singapore Dollars. Customers will be responsible to the auctioneers for all bank charges and any difference in the exchanged notes upon conversion should they choose any other currrency payment. Full Settlement: Full Settlement is due on receipt of invoice. No items will be dispatched except to established account customers. Full settlement is due within thirty days (30 days) of the sale. After that time, any amount owing will be subject to an interest of 2% per month, in accordance with the CONDITIONS OF SALE printed in the catalogue. Payment by Singapore Dollars cheque / bank draft and telegraphic transfer to: Monetarium Auctions United Overseas Bank Limited A/C No: 372 300 6595 Swift Code: UOVBSGSG Terms and conditions are subject to change without prior notice.