Auction terms

General Terms and Conditions (GTC) for Online Auctions of Münzwerk Laton (Proprietor: Marcin Laton), 8953 Dietikon, Switzerland
Effective date: 26 September 2025

The German version of these Terms and Conditions is legally binding. This English translation is provided for information only and has no legal effect.

§ 1 Scope

1. These Terms and Conditions (GTC) apply to auctions conducted by the sole proprietorship Münzwerk Laton, proprietor Marcin Laton, based in 8953 Dietikon, Switzerland (the “Auctioneer”), via the online platform OneBid.
2. Absentee bids may also be placed through connected external platforms (e.g. biddr.ch or similar). Such bids are transmitted to OneBid and count as binding bids, provided they are properly received and can be assigned to the Auctioneer.
3. Live bidding during the auction is only possible directly via OneBid. External platforms are limited to forwarding absentee bids.
4. By taking part in an auction through OneBid or a connected external platform, participants accept these GTC.
5. The Auctioneer may amend these GTC at any time. Changes take effect once published on the website or platform and apply to all auctions held afterwards.

§ 2 Participation and Registration

1. Participation requires valid registration with OneBid or – where offered – with the relevant external platform. The terms of use of any external platform also apply.
2. The Auctioneer may refuse registration or exclude users without giving reasons, especially in cases of:
   – incomplete or false information;
   – previous payment defaults;
   – suspicion of manipulation or misuse;
   – breaches of these GTC or of platform terms of use.

§ 3 Bidding and Auction Procedure

1. The auction takes place online via OneBid. The process (live bidding, timing) follows the functions and rules of the platform.
2. Absentee bids can be placed on OneBid or on connected external platforms.
3. Live bids (real-time bids during the auction) are only possible directly on OneBid. External platforms do not transmit live bids during the auction, only previously submitted absentee bids.
4. Absentee bids are automatically taken into account during the live auction and compared with incoming live bids. If no higher live bid is received, the absentee bid remains the winning bid.
5. A lot is awarded to the highest valid bid at the time the auction closes, provided any reserve price has been met.
6. All bids are binding. Withdrawal, reduction or cancellation after submission is not possible.
7. The Auctioneer may reject or cancel bids in cases of technical faults, obvious errors, or justified suspicion of manipulation.

§ 4 Auction Lots and Condition

1. The auctioned items are numismatic collectibles (e.g. coins, medals, banknotes).
2. Each lot is presented with photos and a description. All information is provided to the best of the Auctioneer’s knowledge but does not constitute a guarantee.
3. Items are auctioned in the condition they are in at the time of sale (“as seen”). The Auctioneer evaluates items carefully and in good faith.
4. For items already encapsulated in holders (“slabs”) from recognised grading services such as NGC or PCGS, the description is based on the certification. By bidding, the Buyer accepts the grading and authentication of NGC, PCGS or an equivalent service. The Auctioneer gives no further guarantee, especially for defects hidden by the holder or not identified by the grading service.
5. The sale is made without warranty. Returns, exchanges, or later complaints are excluded, unless there is proven fraudulent misrepresentation.

§ 5 Prices, Buyer’s Premium and Taxes

1. A buyer’s premium of 15% is added to the hammer price.
2. This premium is inclusive of any applicable taxes. The Auctioneer is not subject to VAT (small business exemption under Art. 10 para. 2 lit. a of the Swiss VAT Act, MWSTG) and does not show VAT separately.
3. The total purchase price is made up of:
   – the hammer price;
   – plus 15% buyer’s premium;
   – plus shipping costs (see § 6).

§ 6 Payment and Shipping

1. Invoices are issued after the auction. The total must be paid in full within 7 calendar days of the invoice date. If payment is late, the Buyer is automatically in default; interest of 10% p.a. may be charged. In the case of late payment or refusal of acceptance, the Auctioneer may:
   – demand fulfilment of the contract;
   – claim damages for non-performance;
   – or withdraw from the contract and resell the lot.
   Any costs or losses from resale are borne by the Buyer. If the resale achieves a lower price than the original hammer bid, the Buyer is liable for the difference and all related costs (e.g. storage, handling, extra fees).
2. Accepted payment methods (e.g. bank transfer) are shown on the invoice.
3. All prices are quoted in Swiss francs (CHF). Payments may be made in CHF or in euros (EUR). For payments in euros, the invoiced amount will be calculated at the exchange rate in effect on the date of invoicing. Euro amounts displayed are provided for reference purposes only.
4. Dispatch takes place only after full payment has been received. The Buyer must ensure the Auctioneer receives the full amount. For payments via Stripe, Revolut or similar services, the Buyer bears all fees and conversion charges.
5. Shipping is at the Buyer’s expense and risk. The shipping method is chosen by the Auctioneer (registered or insured delivery, where possible).
6. Risk of loss or damage passes to the Buyer once the parcel is handed over to the shipping company. Ownership passes only after full payment.
7. Any import duties, taxes, or customs charges incurred on shipments outside Switzerland are the responsibility of the buyer and are not included in the purchase price.

§ 7 Hammer Price and Transfer of Ownership

1. When the hammer falls, a binding purchase contract is created between the Auctioneer and the highest Bidder.
2. The Auctioneer may reject bids or cancel an award in cases of obvious technical errors or manipulation.
3. Ownership of lots remains with the Auctioneer until payment has been received in full.

§ 8 Data Protection

1. The Auctioneer processes personal data only in line with legal requirements and for the purpose of fulfilling the contract.
2. Only the data necessary to process the contract is collected and used. Data is shared with third parties solely for contract purposes (e.g. shipping companies, payment providers).
3. In addition, the data protection rules of OneBid and, where applicable, of external platforms also apply.

§ 9 Governing Law and Jurisdiction

1. Swiss law applies exclusively; the UN Convention on Contracts for the International Sale of Goods (CISG) does not apply.
2. Place of jurisdiction is Dietikon (Canton of Zurich), Switzerland, unless mandatory law provides otherwise.

§ 10 Severability

1. If any part of these GTC is invalid, the validity of the remaining provisions remains unaffected. The invalid provision will be replaced with one that comes closest to its intended purpose.