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1.
APPLICATION AND CONTRACTUAL RELATIONSHIP
1.1. By making a bid, a Bidder acknowledges his acceptance of these Conditions and will be
bound by them.
1.2. Ira & Larry Goldberg Coins & Collectibles Inc. (“Auctioneer”), Dmitry Markov Coins & Med-
als, M&M Numismatics Ltd., and Sovereign Rarities Ltd. act as Auction Agent for the Seller for the
sale of a Lot to the Buyer unless any of these entities is in fact the owner of the Lot. As such,
Auction Agent is not responsible for any default by the Seller or the Buyer.
1.3. The contract for the sale of a Lot is between the Seller and the Buyer and is subject to
these Conditions and the Seller’s Conditions.
2.
PRE-SALE AND DESCRIPTIONS
2.1. Statements made by us in a Catalog, during the course of the Auction or elsewhere,
describing a Lot, including its authorship, origin, age, size, condition, genuineness, authenticity,
value or the state of preservation and strike are intended as a guide for interested Bidders. When
a grade from an independent grading service is mentioned, the information is provided strictly for
the convenience. These are statements of opinion only and should not be relied on as statements
of fact. Illustrations of the Lots are for general identification only.
2.2. Lots by their nature are usually aged and varied in condition. The absence of any descrip-
tion of a defect, damage, modification or restoration in any Catalog does not imply that there are
none.
2.3. Coins are graded to accepted international standards to the best ability of our specialists.
You acknowledge that the grading of coins is subjective and may vary from specialist to specialist,
as the process is by nature an art and not a science. For this reason, we do not automatically
accept and are not bound by the opinions of third party coin grading services for any purposes
including before and after the sale of a Lot.
2.4. If you are interested in a Lot, we strongly recommend that you view it in person before the
Auction and form your own opinion of the description of the Lot.
2.5. We reserve the right to change any aspect of the published description of a Lot prior to the
Auction. Any change may be published on our website, displayed at the Auction, announced by
the auctioneer prior to the sale and/or communicated in any other manner.
2.6. All copyright in Catalogs, including images, belongs to Auctioneer.
3.
ABSENTEE COMMISSION BIDS
3.1. If you are unable to attend the Auction personally, you may submit a Commission Bid
and we will endeavor to purchase the Lot on your behalf for the lowest price possible. You must
submit this in writing using the Commission Bid Form and send it to us by post, fax or email at
least 24 hours prior to the Auction.
3.2. For all Commission Bids, you must supply your name and address, contact telephone
number and email. You must also provide the Lot number and description of the Lot, the amount
of your Bid and any other information requested in the Commission Bid Form or by us. It is your
responsibility to provide the correct information and to ensure that we have received your Com-
mission Bid.
3.3. We do not charge for this service and therefore we will not incur any liability for executing
(or failing to execute) the Commission Bid.
3.4. If you submit a Commission Bid verbally (by telephone or otherwise), we shall not be
responsible for any misunderstandings (by either us or our agents or you) in relation to your Bid.
All bids made in this way must be confirmed in writing before the Auction.
3.5. If we receive two Commission Bids for equal value for the same Lot, the Bid received first
by us shall take precedence.
3.6. “Buy” commissions and unlimited Commission Bids will not be accepted.
4.
AUCTION SALE
4.1. This sale is a public auction sale conducted by licensed and bonded auctioneers.
4.2. Before the Auction, all potential Bidders must notify their name and address to the Auc-
tioneer and, if required, provide proof of identity to our satisfaction and bank or other credit
references. Bidders unknown to Auctioneer are requested to establish credit or deposit 25% of
their bids before the sale. We cannot accept bids from minors.
4.3. The highest Bidder for each Lot shall be the Buyer. If there is a dispute, the Auctioneer
shall have absolute discretion to determine the dispute including re-offering the disputed Lot for
sale. Auctioneer reserves the right to refuse any bid he feels is not made in good faith.
4.4. A Bidder must submit a bid for an entire Lot and each Lot constitutes a separate sale.
The Auctioneer shall, however, have absolute discretion to divide any Lot, to combine any two or
more Lots, or to withdraw any Lot from the Auction without giving any reason (including after the
hammer has fallen). Bidding shall be regulated at the absolute discretion of the Auctioneer. The
Auctioneer has the right to refuse any bid.
4.5. All sales are final. Subject to Condition 4.4, the contract for the sale of the Lot is concluded
on the fall of the hammer.
4.6. You cannot cancel your purchase of a Lot once the hammer has fallen.
4.7. Auctioneer reserves the right to include in any Auction its own material as well as mate-
rial from affiliated or related companies, principals, officers or employees. Auctioneer may have
direct or indirect interests in any of the Lots in the Auction and may collect commissions. THE
TWO PRECEDING SENTENCES SHALL BE DEEMED A PART OF THE DESCRIPTION OF ALL LOTS
CONTAINED IN THE CATALOG.
4.8. Auctioneer may bid for its own account at any auction.
4.9. All Lots are offered for sale subject to a Reserve.
4.10. Estimates in the Catalog are not limits or reserves but reflect the actual market prices and
are intended as a guide for bidders. The actual prices realized may be higher or lower than these
valuations. The starting price will be about 80% of the estimates, unless there are higher offers.
5.
PAYMENT
5.1. The Purchase Price payable by a Buyer is the Hammer Price plus a Buyer’s Premium of 18%
of the Hammer Price. Buyer of a lot is responsible for paying New York sales tax, unless the Lot
is exempt.
5.2. Buyer of a Lot shall pay the Purchase Price in full before the Lot can be delivered to the
Buyer.
5.3. Except where Condition 5.2 applies, any part of the Purchase Price outstanding after the
Auction shall be payable by you within 14 days of the date of the Auction, the due date.
5.4. The Purchase Price is payable by you in cash in full in US funds. You are not entitled to
set-off any amounts that you claim are due from us or anyone else or make any other deductions.
5.5. Unless we have agreed in writing otherwise, you shall act on your own account as principal
in respect of the sale and therefore if you accept a commission from a third party to bid on their
behalf, you do so at your own risk and will remain personally liable (jointly with your principal) to
us for the Purchase Price in accordance with these Conditions.
5.6. The methods of payment and surcharges are set out below.
5.7. If the Purchase Price has not been settled within 30 days of the Auction date interest will
be charged at 2% per month from the due date of payment to the date that cleared funds are
received whether that is before or after any legal judgment. This is without prejudice to any other
rights that we have for non-payment.
5.8. If you fail to comply with your obligations under these Conditions, the Lot, in respect of
such non-compliance, may at our discretion be put up for sale at Auction or privately and resold.
In this case, you will be liable in full and will indemnify us for all losses, costs and expenses (in-
cluding attorneys’ fees and legal costs) incurred as a result, including the costs of the resale and
the amount (if any) by which the Hammer Price obtained on the resale is less than the Hammer
Price obtained on the original sale of the Lot to the Buyer.
6.
RISK, TITLE AND DELIVERY
6.1. The risk of damage/loss to the Lot will pass to the Buyer on the fall of the hammer. Title
in a Lot will not pass to the Buyer until the Purchase Price has been paid in full.
6.2. Unless agreed by us, you should collect the Lot within 7 days of the date of payment in full.
We reserve the right to charge for storage and to resell by Auction or privately without notice to
you, if a Lot is not collected. Alternatively, we will send the Lot to you by recorded post. Postage
and insurance costs will be charged as additional costs.
6.3. Except in relation to Forgeries, you must satisfy yourself that the correct Lot has been
delivered to you at the time of collection/delivery. We will not be responsible for any discrepancy
which might be discovered after the Lots have been collected. If we have shipped the Lot to you,
we will not be responsible for any discrepancies if you fail to notify us within 24 hours of receipt.
6.4. It is the Buyer’s responsibility to obtain any necessary import, export or other licenses
required in relation to a Lot.
7.
GUARANTEE FOR FORGERIES
7.1. Auctioneer is a member of the International Association of Professional Numismatists and
in accordance with the conditions of membership, shall provide a guarantee to the Buyer for all
Lots against Forgeries on the terms set out in these Conditions (‘Guarantee’).
7.2. For the purposes of these Conditions, a ‘Forgery’ means an imitation that has been created
with the fraudulent intent to deceive in respect of the authorship, origin, date, age, period and
the correct description does not correspond with the description in the Catalog and as a result has
a value significantly less than it would have been had it been genuine.
7.3. You must notify us in writing within one (1) month of you becoming aware that the Lot
may be a Forgery. The Lot must be returned to us in the same condition as at the time of sale
and you must submit evidence that the Lot is a Forgery, the onus being on you to prove that it is
a Forgery.
7.4. You acknowledge that:
(a) we reserve the right to re-assess the Lot or engage at our expense any expert or
authority considered by us at our sole discretion to have the necessary expertise to undertake a
re-assessment of the Lot;
(b) following our re-assessment of the Lot, you agree to be bound by our decision as to
whether or not the Lot is a Forgery.
7.5. You shall not be entitled to a refund for a Forgery if:
(a) the grounds for claiming that the Lot is a Forgery is based primarily on a difference
of opinion between us and a third party providing coin grading services;
(b) the grounds for claiming that the Lot is a Forgery is by reason of any damage and/
or restoration and/or modification work of any nature;
(c) the description of the Lot in the Catalog was in accordance with generally accepted
opinions of numismatic specialists as at the date of publication or the catalog indicated that there
was a conflict of opinion.
(d) it has been proved that the Lot is a Forgery by applying a method that was un-
available or not generally applied within the industry of numismatics as at the date of publication
of the catalog or was disproportionately expensive, in both cases as determined in our absolute
discretion.
7.6. If we agree that the Lot is a Forgery then subject to:
CONDITIONS OF SALE