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Sammlung Geneve

english | 35 The auction takes place voluntarily and publicly against immediate cash payment in Swiss Francs. Foreign currencies are accepted at current ex- change rates or as credited by a major Swiss bank. The day of receipt or credit applies. Peter Rapp AG has the right to withdraw, regroup or refuse to knock down any lot. In the event of identical bids, the one first received takes prece- dence; in the event of misunderstandings, the lot is reoffered. Bidding increments are at a minimum of 5% and a maximum of 10%. Lots are awarded to the highest bidder by knock-down which creates an obligation to take delivery. A commission of 20% is added to the purchase price. Purchase price and commission are due immediately. Bidders for third parties are jointly and severally liable with such third parties. Upon the fall of the hammer, the risk transfers to the purchaser. All lots offered are subject to Swiss value added tax (MwSt). The legal VAT of 7.6 % will be levied on the grand total of the auction invoice (knock- down price plus surcharge plus postage plus insurance). The value added tax shall not be applicable to any lots if the lots purchased at auction are shipped abroad by Peter Rapp AG. Value added tax will be invoiced to purchasers resident outside Switzer- land who personally collect the lots in Wil. However, it can be refunded later on if you submit to us an export certificate in the original that has been legally stamped by the Swiss customs authorities. Domestic traders can deduct the VAT amount paid to Peter Rapp AG in their own VAT account as pretax. The purchased lot must be paid promptly upon receipt of the invoice, but in no event later than within 7 days after the end of the auction. Upon exceeding this deadline for payment, the purchaser is immediately con- sidered to be in default and, in the event of delayed payment by the buyer or refusal to take delivery, Peter Rapp AG is authorized to charge interest, currently at the rate of 10 % p.a. In the event of payment delay on the part of the purchaser or refusal to take delivery, Peter Rapp AG reserves the right to either sue for perfor- mance of the contract as well as for payment of the purchase price and indemnification, or to rescind the sales transaction. In that event, Peter Rapp AG is authorized to otherwise dispose of the lots, particularly to sell them by private treaty or to reauction them or to have them reauctioned. In any event, the purchaser is liable for the arising loss as well as for any deficiency in proceeds. He does not have a claim to any excess proceeds and will not be authorized to submit further bids. In principle, the lots are handed over upon full payment of the auction invoice. It is solely in the discretion of Peter Rapp AG to hand over the lots concurrently with invoice presentation. The lots are privately insured by Peter Rapp AG and forwarded to the purchaser by mail or by other means; as a rule, as registered or valued matter. Forwarding costs and insurance premiums are at the purchaser‘s expense. Until full payment of the entire invoice is rendered, title to all purchased lots remains with the consignor. Prior to that time, they may neither be resold, pledged nor otherwise transfered to a third party by the purcha- ser. Offset pleas of any type are precluded. Extension of time for payment is granted by Peter Rapp AG upon request, supported by appropriate references. Such special arrangements must be agreed upon prior to the auction and must be in written form. The lots on auction have been described conscientiously and with great- est care. As a general rule, valuable stamps bear the mark of competent experts or are accompanied by certificates. In the case of photographed stamps, the photograph is determinative as to margins, perforations, cancellations, etc. Peter Rapp AG‘s liability for the postage stamps sold is as follows: In the case of expertized stamps, the purchaser acknowledges the cer- tificates (expertizations) and signatures mentioned in the lot descriptions as binding, particularly with regard to genuineness and quality of the lots 1. 2. 3. 4. 5. 6. 7. 8. 8.1 8.2 8.3 8.4 9. 10. 11. 12. 13. 14. 15. 16. as well as the completeness of contents of the expertization certificates. Peter Rapp AG‘s liability beyond the scope of the above is precluded. If any certificate from the Briefmarken-Prüfstelle Basel (BPB) exists for single lots, Peter Rapp AG Auction will be liable for the authenticity of the stamp, for the authenticity of the postmark and for the authenticity of the franking during a period of 10 years from the point of time of knock-down. In the case of non-expertized stamps, Peter Rapp AG assumes liability for the genuineness of the stamps sold for a period of one year from date of knock-down. This warranty of authenticity pertains to the stamps as well as to their cancellations. Peter Rapp AG‘s liability for the quality of non-expertized stamps is limited in time in accordance with the time limit for complaints as mentioned in sec. 9, below. Peter Rapp AG declines any warranty for collections, mixed lots and ac- cumulations. In the event of a complaint regarding genuineness, according to sec. 8.3, par. 1,above, proof of forgery must be presented with a certificate of a competent expert. The original lots which are the subject of the com- plaint must be submitted in the condition which prevailed at delivery. Expertization marks of recognized experts who are liable for their errors are not considered to be alterations. Complaints as to quality pursuant to sec. 8.3, above, must be received by Peter Rapp AG no later than 17 December 2008. Upon request, this time limit may be extended under special circumstan- ces. Written requests, containing reasons and the lot number involved, are to be presented to Peter Rapp AG no later than 10 December 2008. However, the extension of the time limit for complaints does not have the consequence of extending the time limit for payment. In the event of justified complaints, the lot is accepted back and the purchase price and surcharge are refunded. In such instance, the cost of reexpertization is borne by the consignor. In the event of unjustified complaints, the cost of reexpertization is borne by the purchaser. All claims are void if the purchaser is in arrears with payment of the pur- chase price or surcharge. All lots may be inspected at Wil prior to and during the auction within the hours indicated in the catalogue. Upon request, we provide orientation to mail bidders about any expertization certificates by furnishing photo- copies and by describing the contents and condition of the lots. Written bids are executed by Peter Rapp AG in strict conformity with the principal‘s interests, although without recourse. The principal may submit alternative bids and establish an overall limit for the total of his bids. The names of consignors and buyers are, as a matter of principle, not revealed. Peter Rapp AG is authorized to assert all rights of the consignor, derived from his instructions and from the bids, in its own name against the buyer. Claims against Peter Rapp AG, arising out of delay, impossibility of performance, responsibility in the event of breach of contract, or tortious acts, are excluded, unless the loss is sustained by premeditated or gross- ly negligent conduct. Place of performance and exclusive court venue: CH-9500 Wil. However,PeterRappAGreservestheright,whenindicated,tosuethedebtor at his legal residence. Additionally, it may summarily exclude persons from the auction. The auction is exclusively subject to Swiss law. With the submission of bids or purchase requests, the above terms of auction sale are accepted to their full extent. They also apply analogously to all business transactions involving auction material conducted outside the auction. For the purpose of construction of these Terms of Auction Sale, the origi- nal German text applies. Wil, November 2008 terms of auction sale

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