Terms and Conditions
Terms and Conditions
The organizer of the auction (cataloguing the creation of lots, and managing live bidding and logistics) of movable assets (hereinafter referred to as the "auction") is
KATZ Bros, s.r.o. (IČO 19631022, DIC CZ19631022) with its registered address at:
Anny Letenské 34/7, Vinohrady, 120 00 Prague 2
And office at Manesova 917/28, Vinohrady, 120 00 Prague 2
(Hereinafter referred to as the Auctioneer). The auction under these Auction Rules is not an auction in the sense of Act No. 26/2000 Coll., On Public Auctions, as amended. The Auctioneer acts as a mediator for the sale of auctioned items on electronic bidding platforms. For that, he is entitled to remuneration for mediating the sale of the item and the payment of the costs incurred in connection with the auction. Each Auction Participant expresses his/her consent to these Auction Rules. The Auction is governed by Czech Civil law.
I. Members of the Auction
- The member of the auction platform is the user (Bidder/Customer) who has finished the registration process, and agreed with T&C about purchasing and selling through the auction platform for an agreed remuneration to the organizer.
- By registering in the online auction system, the auction participant (Bidder) agrees to these Auction Terms and Conditions and also confirms that he/she is aware of the terms and conditions of the processing of his/her personal data, or personal data of natural persons acting on his/her behalf, in accordance with the GDPR and other data protection regulations, as detailed in the Information on the Personal Data Processing, which is an annex to these Auction Terms and Conditions, for the purposes and to the extent specified in the registration form.
- Only natural and legal persons or registered and confirmed legal entities eligible for legal proceedings may participate in the auction that is both domestic and foreign persons (the "Bidder").
- The auction participant may be represented in the auction by a representative on the basis of a written power of attorney with an officially authenticated signature; a proxy may also act as a representative of a participant in the auction.
- A person who fills in an Auction Registration Application form becomes a Bidder and will be given an appropriate Bidder (user) number (which becomes a unique personal ID of each auction participant).
- A person unknown to the Auctioneers could be asked to provide personal identification (ID or passport) and a reference from other professional dealers (auctions, official Sellers (e.g. eBay, MA-Shops, Catawiki, Drouot).
- When registering for the auction, companies of unknown foreign legal entities (except for those from the Slovak Republic or the Czech Republic) must, among other things, also submit an official document (equivalent to an extract from the Commercial Register) proving at least the name, legal form, registered office, and persons authorized to act on behalf of the legal entity, not older than 3 months, as well as a valid proof of identity of the person acting on behalf of the legal entity. The documents must be in Czech or English or be officially translated into one of these languages due to legal requirements of Czech Republic. We do not accept documents in non-Latin transcription (i.e. Chinese, Arabic, etc).
- If no reference is provided, the Auctioneer provides the Bidder with a limit of 500 Euro for all winning bids.
- To increase the limit, the Bidder should submit a reference from another professional auction or dealer (e.g. a paid invoice or guarantee letter), provided to the auctioneer with his ID (national ID card or passport) and in case the Bidder has no references he would be asked to send a deposit agreed with the Auctioneer to his bank account or provide credit card details. The deposit is fully refundable in case the Bidder will not acquire any items within 14 days after the auction has ended.
- The Auction currency is EUR. The exchange rate to USD, CZK or any other currency is solely determined by the auction organizer.
- Any Bidder wishing to participate in the auction has the opportunity to inspect the auction items before the auction in the office or may be provided with video of the lot via email or any type of messengers, used by Katz Auction Team.
- The prices displayed in the catalogue are fixed and cannot be lowered.
- The table of possible bid increments during the live auction is shown below.
- The auctioned item is sold to the highest bidder.
- If there is more than one bid for the same price, the item will be sold to the auction participant who has made the offer earlier.
- If there is an equal bid received on any other auction portal than katzauction.com, the item will be sold to the auction participant who has bid directly on katzauction.com. All bids made at www.katzauction.com will prevail.
- In the event of an error in the catalogue, this error will be corrected and the participants bidding on the item will be notified before the auction itself. Both Auctioneer and Bidder have a right to withdraw a bid or cancel the purchase in case of an error in the catalogue.
- All sales in the auction house are legally binding. This means that the Bidder by submitting his bid becomes obliged to pay for his purchase.
- All bids made at partner web pages, if they need to be cancelled, should first be cancelled at our partner’s web page and then at our web page after a request from a customer and confirmation by our partner platform!!
- We do not make any type of after-sales nor pre-sales.
Due to European rules of GDPR, we protect all your data but if you repeatedly violate our auction rules and payment frames several times according to our T&C you have agreed on we reserve the right to add your details to the Auction Shared Blacklist, which is visible amongst other Auction Houses, Bidding Platforms or any of our partners to avoid any further damages. If we do not have any answer or information from you for more than 32 days, we can use all your personal data to share it with other legal entities up to our decision/their request.
II. AML Protocol
1) The company KATZ Bros, s.r.o. is an obliged entity pursuant to Act No. 253/2008 Coll., on selected measures against legitimisation of proceeds of crime and financing of terrorism, as amended ("AML Act").
In accordance with the AML Act, a person dealing in works of art according to Annex No. 3 to this Act is the obliged entity, if their value reaches at least EUR 10,000. Furthermore, the person is authorized to store works of art, if their value reaches at least EUR 10,000 (cultural monuments or objects of cultural value), if it occurs in free zones.
The company is the obliged entity and must have a system of internal policies, procedures and control measures ("AML System"). The administrative supervision in the form of preventive and targeted checks regarding the fulfilment of the obligations stipulated by the AML Act is carried out by the Czech Trade Inspection for persons dealing in cultural monuments or objects of cultural value, or mediating such transactions.
The AML Act establishes the following obligations:
a) Identify the client
b) Refuse to carry out a transaction if there are any doubts about the veracity of the obtained identification data of the client, if the client refuses to submit to identification or refuses to document authorization, unless the authorization can be ascertained from the public register; the obliged entity informs the Czech Trade Inspection about this fact at the same time
c) Perform a client check
d) Store information
e) Report suspicious transactions
f) Provide information to the Czech Trade Inspection and the client
g) Maintain confidentiality.
If the company, as the obliged entity under the AML Act, discovers a suspicious transaction in connection with its activities, it shall report this transaction to the Czech Trade Inspection without undue delay. If the circumstances of the case require it, especially if there is a risk of delay, the obliged person shall report the suspicious transaction immediately after its detection. Suspicious business can also be conduct that does not directly lead to the conclusion of a business, but arouses reasonable suspicion.
III. Auction procedure
- Bidding in this Auction Sale constitutes acceptance by you (“Bidder”) of all the Terms of Sale stated herein.
- Bidders may include consignors who may bid and purchase lots in the Auction Sale consigned by the consignor or by other consignors pursuant to their consignment agreement with KATZ Auction (“Consignor” or “Consignors”).
- The Commissioner (KATZ Auction) offers for sale at auction items for which it has concluded commission agreements with their owners for the mediation of the sale at auction or items that it owns.
- A Consignor that bids on their own lots in the Auction Sale may pay a different fee than the Buyer’s Premium charged to all other Buyers.
- As a company we reserve the right to include in any auction sale our own material as well as material from affiliated or related companies, principals, officers or employees. KATZ Auction may have direct or indirect interests in any of the lots in the auction and may collect commissions. Where the Consignor has repurchased a lot and the lot is either returned to the Consignor or otherwise dealt with or disposed of in accordance with the Consignor’s direction, or pursuant to contractual agreement, KATZ Auction reserves the right to make note of the prices realized or to omit a price from the prices realized.
- In case the Commissioner is not a direct Seller of goods, but an intermediary, his responsibility and obligations apply only to the business mediation service provided by him towards the Seller and the Buyer.
- KATZ Auction and its affiliates may bid for their own account at any auction. KATZ Auction and its affiliates may have information about any lot that is not publicly known, and KATZ Auction and its affiliates reserves the right to use such information, in a manner determined solely by them and for their benefit, without disclosing such information in the catalogue, catalogue description or at the auction.
- Bidder acknowledges and agrees that KATZ Auction and its affiliates are not required to pay a Buyer’s Premium, or other charges that other Bidders may be required to pay and may have access to information concerning the lots that is not otherwise available to the public. Any claimed conflict of interest or claimed competitive advantage resulting therefrom is expressly waived by all participants in the Auction Sale.
- Lots/Items may carry a reserve price (“Reserve”). A Reserve is a price or bid below which the Auctioneer will not sell an item or will repurchase on behalf of the Consignor or for KATZ Auction. Reserves may be confidential and not disclosed. The Buyer is the Bidder who makes the highest bid accepted by the Auctioneer, and includes the principal of any Bidder acting as an agent.
- The auction takes place at a predetermined date and time specified in the auction catalogue.
- The auctioneer reserves its right to change the date and time of auction with the obligation to inform the participants.
- The auction takes place consequently according to the catalogue numbers, unless stated otherwise by the Auctioneer.
- This auction is only available electronically online, only logged-in users can participate in auctions via the Katzauction.com system in real time.
- Before the online sale of each lot is launched, online limits can be entered at Katzauction.com portal and/or at our partners’ web pages.
- All current limits are displayed immediately only if they are made at Katzauction.com web page. All bids made at partners’ pages are automatically uploaded once every 24 hours.
- The auction participant bears full responsibility for each bid made in the auction, even if he did it inadvertently.
- Cancellation of auctioned items by the Bidder is only possible after covering 24.2% of the items’ value unless agreed with the Auctioneer. Violation of this will lead to blocking of the Bidder’s account.
Auction increments table
From 5 to 30 EUR: 1 EUR
From 30 to 70 EUR: 2 EUR
From 70 to 200 EUR: 5 EUR
From 200 to 500 EUR: 10 EUR
From 500 to 1000 EUR: 25 EUR
From 1000 to 2000: 50 EUR
From 2000 to 5000: 100 EUR
From 5000 to 10000 EUR: 200 EUR
From 10000 to 20000 EUR: 500 EUR
From 20000 to 50000 EUR: 1000 EUR
From 50000 EUR: 2500 EUR
IV. Paying for the auctioned purchase
- There is an additional surcharge of 24.2% payable on top of the final bid but not less than 5 EUR per lot (applied to lots sold from 5 to 25 EUR) if nothing else is stated in the description.
- The payment can be made in Euros (EUR) or Czech crowns (CZK) or other currencies according to the exchange rate agreed with the Auctioneer.
- Unless otherwise stated, all amounts are due within 14 days after the payment request (pro-forma invoice) issue date.
- Items sold will become the Buyer's property only after all payments of the auction have been paid out.
- Any of the payment fees, postal and packaging charges are payable by the Buyer.
- There is a 5 EUR payment fee per invoice for handling.
V. Acquisition of ownership and delivery of the auctioned item
- If the Buyer pays the auctioned price, including a 24.2% surcharge, within the specified time, ownership of the auctioned item is transferred to him/her. The Buyer will be provided with an invoice which is a proof of acquisition of the item in the auction together with the auctioned items in the postal package or by email.
- The Buyer chooses the shipping method for his/her purchases. Purchased items can be picked-up in our office, shipped by the Buyer’s request by Czech Post or UPS or can be delivered by the owner of the item or the person who put the item in the auction directly to the Buyer. The price for the transport of the auction item is determined by the Company.
- The ownership right to the auction item passes to the Buyer at the moment of full payment of the purchase price; at this moment the risk of damage, destruction, and loss of the auction item also passes to the Buyer.
- If the Buyer asks the Company for safekeeping of the item, the Company is entitled to charge the Buyer for each day and each purchased auction item the amount of 2 euros per day and shall not assume any liability. The item can be kept for 30 days for free.
- Shipped packages can be insured at full value only if the Buyer pays an additional insurance fee of minimum 10 EUR or 1% of the total invoice value due to the rules of the carrier company.
- The Auctioneer is not responsible for the loss or damage of the shipment delivered by a third-party company. All received shipments must be checked at the place of issue of the package to the Buyer and damages must be reported immediately to the carrier company and Auctioneer. In detail: upon the receipt of the auction item from the carrier, the Buyer is obliged to check the integrity of the packaging of the item and in case of any defects, immediately notify the carrier. In the event that the packaging is found to have been tampered with, the Buyer may refuse to accept the consignment from the carrier. By signing the delivery note, the Buyer confirms that the consignment containing the auction item has fulfilled all conditions and requirements and that any subsequent claims regarding damage to the packaging of the consignment cannot be taken into account.
- Shipping costs might be increased after payment according to the carrier's service price due to the Fuel Fee
- In October 2021 the delivery to NYC of a parcel weight 1-2 kg cost 25 euro, but in March 2022 due to the difference between fuel prices of the year 2022 and 2021, each month the prices changed, therefore the price for the same parcel can grow up to +25%.
- Fuel fee is not a responsibility of the auction organizer. Delivery costs can be recalculated if the size and weight of the parcel is significantly higher than the standard one.
- All claims made after 7 days of a delivery date are not taken into account.
- All shipments sent by the Czech Post must be delivered within 45 days from the date of dispatch. If the shipment has not reached the recipient during the aforementioned period the claim must be applied by contacting the Auctioneer within 6 months from the date of dispatch. All claims made after this period cannot be applied.
- For any lots delivered outside the country where the auction is hosted, the declaration value shall be the item(s)’s hammer price plus its Buyer’s premium. The Buyer shall be responsible for paying all applicable taxes, duties and customs charges for all lots delivered outside the country where the auction is hosted.
- If the Buyer has any special requirements about the shipping, he should inform the Seller in advance. The Seller is not responsible for different fees, taxes, or any possible payment in the country of a customer’s destination.
- Usually items are sent from 3 to 5 working days after confirmation of the payment receipt. Shipment can be delayed due to the high volume of shipments at the moment but will be shipped in a queue according to the payment date. In case an invoice is paid later than the agreed 14 days the auctioneer has the right to complete the shipping later when all invoices paid on time will be shipped. The maximum time frame for shipping of paid items is 8 weeks after the invoice payment date.
- The Buyer acknowledges that the contractual shipping partners do not allow the insurance of auction items in one shipment with a value of over CZK 1,000,000 (within the Czech Republic) and over USD 50,000 (within the following countries: Austria, Belgium, Bulgaria, Canada, Croatia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Switzerland, UK, and the USA). Shipments to other countries cannot be insured.
- In the event that for reasons on the part of the Buyer it is necessary to deliver the auction item repeatedly, the Buyer is obliged to pay the costs associated with the repeated delivery or the costs associated with another method of delivery.
- Upon the handing over of the auctioned item to the Buyer, the Auctioneer has the rights and obligations of the escrow agent/clearing service. If the Buyer does not pay the price of the auctioned item including any surcharges within the specified time, it is considered to be a thwarting of the auction.
- The Auctioneer is entitled to charge the Buyer who has thwarted the auction all the costs incurred by the auction, including the Auctioneer's commission if the package is returned to the owner of the item. The following late payment fees apply unless otherwise agreed with the Auctioneer until the due date: 16 to 30 days - 3%, 31 to 60 days – 5%, at the same time, the Buyer is charged with the interest on late payment of 0.05% of the outstanding amount for each day of delay. At the same time, delay in payment of the purchase price by more than 3 working days shall be considered a material breach of the purchase contract and in such case, the Company shall be entitled to withdraw from the purchase contract immediately. Withdrawal from the Purchase Contract shall be effective upon delivery of a written notice of withdrawal to the Buyer at the address provided by the Buyer when registering for the auction, or electronically via the electronic address also provided by the Buyer during the registration. In case of non-payment the participant will be added to a black-list and has to pay the Auctioneer the full surcharge of an unpaid invoice to be able to participate in auctions again. The unpaid item is then regarded as unsold with all the consequences for the Buyer. This item can be paid to the owner by the Auctioneer and become his property, returned to the owner, or relisted for sale by agreement between the owner and the Auctioneer.
- In case of collection of the payment of the purchase price, the Buyer shall bear all costs related to the collection of the amount due, including the costs of legal representation. The Company shall be entitled to transfer its claims for the payment of the purchase price to the Seller. The Company may withdraw from the concluded purchase contract instead of collecting the amount due, in which case the Buyer shall be obliged to pay the Company and the Seller for the damages incurred, including lost profits.
- In case of incorrect/unknown item’s delivery the Buyer must notify the Auctioneer by contacting via email/phone/messenger as soon as possible. Any incorrect/unknown item shall be returned back to the sender in order to proceed with the claim process. All costs carried by the Buyer are discussed individually. Refunds might be reimbursed to the Buyer's bank account or as a credit that can be applied to future purchases.
- For all items in the catalogue, we guarantee their authenticity and the accuracy of the description in the catalogue on behalf of the Seller - owner of the item or the person who put the item in the auction.
- In the event of a conflict between the picture and the textual description, the textual description shall prevail. In case of a mistake in description or image both the Auctioneer and the Buyer has the right to regard the item as unsold.
- Because of the possibility of viewing the auction material in advance, in order to ascertain its status, the auction participants present at the auction buy the items "as they stand and lie", therefore any claims for defects of items regarding their quality are excluded.
- Claims of Buyers who did not personally participate in the auction will be assessed only in cases where obvious defects have been detected in the items and have not been shown on the picture, video or otherwise made visible in the catalogue.
- Buyers who pick up the items personally are obliged to report these apparent defects directly on the spot when picking up the items, others are obliged to report these obvious defects within 3 days from the date of delivery of the items.We do not accept later claims.
- In case the winner does not like the item without any specific reason the item can be returned to the Auctioneer within 14 days of the day of a confirmed delivery to the customer checked by a tracking number and the Buyer will be reimbursed the sale price without the surcharge and shipping, or the item can be put in the auction again in the new owner’s name. In case the item relisted in the new owner’s name will be sold for less than it was purchased by the owner the right to compensation of the loss from the Auctioneer or the person who put the item for initial sale is excluded.
- Any claimed auction item must be returned to the Company in the same condition in which it was handed over to the Buyer, unencumbered by the rights of third parties. The right to claim the auction item, as well as any claims related thereto, are granted exclusively to the Buyer and may not be transferred/assigned to a third party. The Buyer's right to compensation for damages against the Company is excluded. If the item is cleaned, washed, artificially toned, scratched, unmounted, polished, tooled, repaired or in any other way damaged or altered it will not be accepted for any claim or return including their authenticity. The auctioneer is not obliged to make any corresponding money refund for it.
- An item which was graded by NGC, PCGS or any other professional grading and authentication service can be claimed only directly with them. If the graded item was removed from the holder the claim will not be accepted by the Auctioneer. It means that if you removed a coin from a NGC/PCGS holder than you will not be able to make any claim with the auctioneer or grading company.
- The reclaimed item shall be returned by the Buyer after the confirmation of the Auctioneer. The item should be returned in person or by special shipment without a COD, with the same title, description, and info, as received from the auction organizer for correct customs return process, insured for the price of the shipment, and the reasons for the claim must be stated in written form inside the package. Returned items must be in the same condition as when shipped.
- Undelivered and returned items can be resent only after covering shipping costs by the customer. Since the returned parcels are charged by courier service differently, the customer must cover the shipping again in order to resend the parcel again.
- We do not guarantee the authenticity of each single piece in group lots with more than 2 items in them. The Auctioneer decides on the merits of the claim.
- The Seller (the owner of the item or the person who put the auction item into the auction) is responsible for 2 years from the auction date for the authenticity and the defects of the auction item that were or should be known to him and failed to notify the Auctioneer of those defects in time in the auction contract. In the case the claim is recognised, the item is considered to be unsold. This item will be returned to the Seller (the owner or the person who put the item for sale) and he/she is obliged to immediately return the financial amount for this already paid-for item.
- The Buyer's right to compensation for damages or costs occurred against the Auctioneer is excluded.
- The Auctioneer is not responsible for the fact that the auctioned items listed in the catalogue will be accepted for classification by a third party person or company and classified according to our rating/classification. E.g. the auctioneer is not responsible that the item will receive grade MS and not AU or UNC Details after being reviewed by NGC or PCGS.
- The Buyer can ask the Auctioneer to send the item for review to the grading company only after the item was paid in full until the due date, otherwise the item is not the property of the Buyer and he/she cannot dispose of it. If the item is paid out of the due date, the Auctioneer and the Seller reserve the right to cancel the sale and refuse to send the item for review.
- The commissioner is not responsible if any items which have ever been sold through the platform turn out to be stolen or misused. Such a complaint should be dealt between Buyer and Seller directly. The commissioner reserves a right to provide contact details of the Seller in case of an official attorney request. The Seller is responsible for unlimited time for the item's origin and he/she confirms that the item belongs to him/her and is not an object of any official investigation process.
- In the event that the Company shall be liable to the Buyer for damages, the Buyer agrees that its compensation shall be limited. The Company shall not be liable for any loss of profits or damages that would have occurred anyway. Only the property damage incurred, to the extent proven, shall be reimbursed up to the amount of the purchase price paid for the auction item. Furthermore, the Company shall not be liable to the Buyer for any damages to the auction items that occur during the Buyer's delay in taking possession of the auction items.
- The Seller do not cover the fees, customs clearance or any other possible paymenst on the side of the Buyer.
- We have the right to refuse any payment towards Customer in amount lower than 50 euro, f.e. in a case of a money return due to our rules.
VII. Force Majeure.
Parties are not responsible for partial or complete failure to fulfil obligations under this Contract if it was the result of force majeure, which could not be foreseen by the parties.
Namely: fire, flood, earthquake, other natural disasters, if these circumstances directly affect the execution of the sale and delivery of purchased and paid items, war or military actions occurred after the conclusion of the contract, as well as decisions by state authorities about the ban/tightening of export-import operations.
The same goes for robberies, or stolen items that have come to the auction organizer office as a break-in, which cannot be covered by insurance or by the Auction organizer, but the Auction Organizer is obliged to inform the customer of all necessary information, police documents, etc. for helping to find the stolen items to give them back to the consignor or final customer.
VIII. Closing conditions
- Foreign participants of the auction are obliged to obtain a certificate pursuant to Act No. 71/1994 Coll. On the sale and export of cultural objects, as amended, when exporting numismatic material abroad. Certification is unnecessary for the export of coins and medals created less than 50 years ago.
- Foreign Bidders must respect the current exchange rate, tax laws and other laws of the Czech Republic and their country of origin. Proper payment of applicable taxes, duties, and fees payable in the Czech Republic or abroad is the Buyer's & the Seller’s responsibility.
- The Seller confirms that items he/she put up for sale are his/her personal belongings from their private collection and are obliged to inform the commissioner about the historical or cultural value (heritage) of his/her items in advance and if there are some items belonging to this category, the Seller has to provide all the documentation for possibility of international transportation and sale purposes (e.g. documents from an official cultural heritage authority expert). The Seller takes all responsibility if he/she knowingly or unknowingly violates any restrictions in this field.
- The regulation of Items of Cultural Value is contained primarily in Act No. 71/1994 Coll., on the sale and export of Items of Cultural Value, as amended ("Act on Sale and Export"). The Czech Republic is also a party to the UNESCO Convention on Means of Prohibiting and Preventing the Illicit Import, Export and Transfer of Ownership of Cultural Property, which is part of the Czech statutory law as Decree No. 15/1980 Coll.
- The Seller is obligated to provide the auctioneer with all required legal documents about his/her goods by commissioner request due to Council Regulation (EU) No. 2019/880 of 17 April 2019 on the introduction and import of cultural goods ("Import Regulation").
- In case of appropriate claims, the Seller must prove that the cultural goods have not been exported from the country in which they were created or discovered in violation of laws and regulations of that country.
- In case the Seller fails to comply with these rules, the commissioner is not responsible for the Seller’s items and their transportation and keeps the right to refuse the package custom clearance.
- Any court proceedings will be dealt with before the courts of the Czech Republic and under Czech law.
- The list of registered auction participants and the personal data of the auction participants are subject to the trade secret of the Auctioneer, and the auction participants, or anyone else, are not entitled to view them.