General Terms & Conditions of the Künker eLive Auctions

§ 1 Scope
Our below eLive Auction General Terms and Conditions apply to all legal transactions between Fritz Rudolf Künker GmbH & Co. KG (auctioneer) and the customer in the course of participation in the eLive Auction. We expressly do not recognize any purchasing conditions that deviate from our General Terms and Conditions; this non-recognition also applies to cases where the buyer has stipulated a particular formality for non-recognition. If non-recognition is excluded, legal regulations shall take the place of deviating conditions. Deviating purchasing conditions shall only be recognized if we confirm in writing that they are to be applied.

§ 2 Conclusion of Contract
eLive Auctions (auction) involves public auctions staged by auctioneers Fritz Rudolf Künker, Oliver Köpp and Dr. Andreas Kaiser of Fritz Rudolf Künker GmbH & Co. KG as defined in § 156 German Civil Code (BGB).
The auction is conducted on the basis of payment of the purchase price in Euro currency and is staged on behalf of and on the account of the proprietors, in compliance with prevailing legal provisions arising from the German Auction Act (Federal Law Gazette (BGBl) Vol. I, 1976, 1346) and legal provisions of the German Civil Code (BGB) and Commercial Code (HGB) applicable to commercial agents. By submitting a bid, you agree to the auction terms and conditions; this also applies to written bids. Each bid by the customer as part of the eLive Auction constitutes a legally-binding offer to conclude a purchasing contract. This is in force until a higher bid (overbid) is submitted or the eLive Auction is concluded with the item left unsold. A contract is concluded only when the auctioneer accepts the winning bid.
An auction sale occurs when the highest bid has been called out three times and obliges the bidder to take over and pay for the merchandise. The auctioneer is entitled to combine or separate lot numbers. Lot numbers will not be called up out of sequence. Participation in the auction is only permitted to customers who have previously registered at eLive Auction on www.elive-auction.de.
Both registration for our eLive Auctions and submission of a bid constitute acceptance of our General Terms and Conditions for the eLive Auctions.

§ 3 Catalogue, Preview
The description of items in the online-catalogue is diligently prepared. However, it does not meet the threshold of legal liability or liability for material defects pursuant to §§434, 459 pp. of the German Civil Code (BGB). The stated condition of preservation is determined strictly according to the categories of preservation customary in German coin trading and is considered a personal evaluation.
The auction catalogue can be downloaded as a pdf file. For a fee of € 10,-- to defray expenses, we will gladly send out a print-out of the catalogue.

§ 4 Bid Increments
The minimum increments for the bidding procedure are:

§ 5 Cost of Shipping
Upon acceptance of the winning bid and issuance of an invoice, payment is to be made to one of our bank accounts within 14 days. We assume a majority of the costs involved in carefully packing and reliably dispatching the merchandise. We charge you for shipping costs according to the following schedule: Shipping within Germany: € 5.90 per parcel, free shipping for order value above €1,000. Shipping within the EU (incl. Switzerland and Norway): € 9.90 per parcel, free shipping for order value above € 2,500. Overseas shipping: € 14.90 per parcel, free shipping for order value above € 5,000.

§ 6 Buyer’s premium and VAT
All bids and hammer prices are in Euros, subject to prevailing value-added tax and buyer's premium.

We are not able to ship items to Russia and the CIS-States. When submitting a bid, customers from these territories shall issue a declaration that the items acquired at the auction will be collected in person or by courier in Osnabrück, where the statutory VAT will become payable. If we are in possession of the statutory documentation proving export, Value Added Tax paid will be reimbursed.

Any import (and/or turnover) tax and duty payable abroad is on buyer’s account in every case. Any shipping costs shall be charged to the buyer as incurred.

eLive Auction: The hammer price is the basis for the calculation of the buyer's surcharge. For buyers from EEC countries the following applies: for consumers there is a standard surcharge of 17,5% (relevant VAT already included). For traders according to the Value Added Tax Act the surcharge is 17,5% (relevant VAT already included) for goods delivered by difference taxation; for goods delivered by standard taxation the surcharge is 15% plus the relevant VAT on the entire amount of hammer price and surcharge. Export deliveries to EEC countries shall be free of VAT on existence of the respective legal requirements.

For buyers from abroad (no EEC country) the following applies: there is a standard surcharge of 15%. As far those buyers export the good in person or by third persons, the relevant VAT will be charged but refunded by presentation of the legal export certificate. In case we export these goods the relevant VAT will not be charged.

Foreign taxes and custom duties shall be carried by buyer as well as shipping expenses charged according to effort.

eLive Premium Auction: The following terms apply to EU buyers: A premium of 25 % (statutory Value Added Tax included) is levied on private clients.

If bidders are companies within the meaning of the VAT legislation, for differentially chargeable items a premium of 25 % is levied (statutory VAT included). Tax-free goods and goods subject to regular taxation are underlying a premium of 20 % (for regularly taxable items plus statutory VAT on the total of bid price and premium).

Institutional buyers (registered coin dealers) with a valid VAT number registered in an EU member state can apply for VAT reimbursement, if they provide us with the requisite statutory registration documents. These documents comprise the VAT registration number and the acknowledgement of receipt from the territory of the EU member state in which the VAT registration was issued. Should we ourselves effect the export of any items, and provided a valid VAT registration document was submitted to us before purchase, VAT will not be charged.

For buyers, who are residents of non-EU countries, the following rules apply: The premium shall be 20 % (where the goods are exported to a non-EU country by the buyer himself or by a third party, the statutory VAT will be charged but reimbursed on presentation of the statutory evidence of export. If we ourselves effect the export to non-EU countries, no VAT will be charged).

§ 7 Payment
Upon acceptance of the winning bid and the formation of the contract, payment is to be made to one of our bank accounts within 14 days.

§ 8 Terms of Delivery and Delivery Period
For eLive Auctions delivery is only made upon payment in advance. After the buyer’s bid has been accepted, we will send an invoice to be paid within 14 days. Upon receipt of payment, we will ship the merchandise to the buyer within 14 days.
If the customer is a business entity, the risk of incidental demise as well as incidental deterioration of the merchandise is transferred at the time the merchandise is handed over, in the case of shipped items, when the merchandise is handed over to the shipping agent, carrier or person or institution charged with expediting the shipment.
If the buyer is a consumer, for a mail-order purchase the risk of incidental demise or deterioration of the purchased item is only transferred when the merchandise is handed over to the buyer. The merchandise shall be considered handed over if the consumer is in default of accepting the purchased merchandise.
The transport risk we assume is covered by sufficient insurance policies.

§ 9 Liability for Defects
Because the preview provides an opportunity to be assured of the auction merchandise's condition of preservation, once merchandise has been sold at the auction, claims can only be considered in cases where traces of hooks and mountings or a plugged hole were overlooked in error.
In lots with several pieces, the number of pieces stated only represent approximations, and erroneous attributions cannot be ruled out in individual cases. After the sale has been made, these lots are excluded from any claim.
In case of possible differences of opinion or complaints, the auctioneer may appoint an expert of his choice (the costs shall be borne by the party losing the dispute).
Any disputes can only be considered within 8 days after the auction or after receipt of the auctioned items.
The authenticity of the pieces is guaranteed up to the amount of the purchase price. The stated prices are estimated prices which may turn out to be lower or higher.
Should the articles delivered prove to have obvious defects, whereby this also includes shipping damage, the customer is obliged to file a claim for such defects without delay. If you are a consumer, the failure to give notice of defect, however, shall not have any consequences on your legal rights.

§ 10 Data Protection
All personal data will be kept strictly confidential and will not be made available to third parties.

§ 11 Liability Disclaimer
In all cases where the auctioneer and/or the consignor are obliged on the basis of contractual or legal grounds to pay for damages or reimbursements, these parties are only liable to the extent that they have been proven to have acted willfully and with gross negligence or to have caused injury to life, limb, or health. This shall not affect liability regardless of negligence or fault according to the Product Liability Act. Nor shall it affect liability for gross breach of contract; to this degree, liability is limited to damages that are foreseeable and typical for this type of contract, except for the cases referred to in the first two sentences. The aforementioned provisions are not coupled with a change in the burden of proof to the disadvantage of the customer.

§ 12 Applicable Law, Venue
The place of fulfillment is Osnabrück. German law shall apply at the exclusion of the United Nations Convention on Contracts for the International Sale of Goods.
If the customer is an entrepreneur, a legal entity under public law or a special fund under public law, the exclusive venue for all disputes arising from this contract shall be the place of business of Fritz Rudolf Künker GmbH & Co. KG, Osnabrück. The same applies if the customer has no general legal venue in the Federal Republic of Germany or his domicile or normal place of abode is not known at the time a lawsuit is filed.
Should any of the provisions of this contract with the customer, including these General Terms and Conditions, be determined unlawful in part or whole, this shall not invalidate the remaining provisions. The provision found to be unlawful in part or whole shall be replaced with a provision that most closely achieves the economic purpose of the unlawful provision.
In case there is an unforeseen eventuality, the parties shall agree upon provisions that, on the basis of the entire body of the contract, shall help execute the contract according to the apparent will of both parties.

THE AUCTIONEERS
DR. ANDREAS KAISER,
OLIVER KÖPP