The auction process
The auction process is not as daunting as you may think, especially if you have selected Antiquorum as your auctioneer. antiquorum and its team of experts strive to help you, the client, buy and sell at auction with ease and confidence. To walk you through the process, Antiquorum has outlined the important steps you should know in order to successfully purchase or consign timepieces and jewelry at auction.
THE BUYER
Lot descriptions provide technical data carefully compiled by our experts for each lot in the sale and are often enhanced by historical or bio graphical comments.
• Estimates are listed at the end of each lot description and are an indication of the price range the lot is expected to fetch. Estimates do not include the buyer’s premium or sales tax.
• An estimate indicated by three stars ***, advises clients to contact Antiquorum for more information.
• Condition Reports are given for each lot in the catalogue based on a grading system developed by Antiquorum’s experts. This grading system is explained at the end of the auction catalogue.
• Buyers are advised to read the Conditions of Sale and Important Notices before bidding at auction.
The system offers many features to facilitate the online bidding process
Online bidder registration
On Antiquorum’s fully secure website, https://catalog.antiquorum.swiss, the following steps must be completed by prospective buyers
- Create an account by providing the bidder’s name, address, telephone number, email address and a requested credit limit for online bidding. NOTE: First time bidders are required to provide a valid ID (passport, identity card or driver licence).
- Register to the auction on https://live.antiquorum.swiss and complete the online form. In some cases, Antiquorum may impose a credit limit to the online applicant, in which case the amended credit limit will be communicated to the client upon receipt of the registration form.
- Accept Antiquorum’s terms and conditions of sale.
By clicking on “Confirm bid ” I accept the sale terms and conditions - Approved bidders will receive a confirmation email. Once the auction catalogue is available online, prospective buyers can register online to bid.
For additional information about the online bidding system, terms and conditions of use and sale, please visit https://antiquorum.swiss.
Online bidding
Antiquorum’s fully secured online bidding system allows prospective buyers to place online bids directly through https://live.antiquorum.swiss for all traditional auctions and only online auction worldwide.
Features
• The lot number with its image and description.
• Auction items have a “Place Bid” button next to a box for entering bids and show a “current bid” price.
• Lot items are opened to bids for a predetermined amount of time (countdown).
• When time is up, the item is declared “sold” to the highest bidder.
• If the maximum bid you entered is higher than the bids entered by anyone else so far, you become the new high bidder. The system bids on your behalf until you are outbid.
• If your maximum bid is not the highest bid entered so far, the system registers your bid but continues to bid on behalf of the high bidder, automatically outbidding you by one bid increment.
• The system continues to automatically bid on behalf of whoever is the highest bidder at the moment, up to and including their maximum, until the lot auction countdown runs out.
• The system will automatically increase your bid by the bid increment, only if you have been outbid, until it reaches your MAXIMUM BID.
• If two bids are place with the same amount, the system will choose the winner based on the time the bids were placed. The first bidder will be the one winning.
• Changing your bid: you may change your bid at anytime between the posting date and the closing date, but your bid cannot be deleted
• Once the bid is placed it cannot be cancelled.
• Antiquorum cannot be held responsible for errors, omissions in the online system.
• Lots in this sale are sold “as is” and cannot be cancelled or returned.
Please note that bid cancellation is not available on Only Online Auctions. All bid cancellation must be received in writing.
AUCTION PREVIEWS
Previews are not conducted by Antiquorum for Only Online Auctions.
CURRENCY CONVERSION
The auction is conducted in Swiss Francs.
The conversion rate is the fixed on the date of the auction.
Values Increments
from Chf 0 to 200 by Chf 10
from Chf 200 to 500 by Chf 50
from Chf 500 to 1,000 by Chf 100
from Chf 1,001 to 4,000 by Chf 200
from Chf 4,001 to 10,000 by Chf 500
from Chf 10,001 to 20,000 by Chf 1,000
from Chf 20,001 to 50,000 by Chf 2,000
from Chf 50,001 to 100,000 by Chf 5,000
from Chf 100,001 to 500,000 by Chf 10,000
SUCCESSFUL BIDS
When the auctioneer’s timer falls to 0s, the final bid has been reached and the system will reward the lot to the highest bidder. If your bids have been successful, you will be notified by means of an invoice sent by e-mail after the auction. You are also welcome to call Antiquorum the day after the auction to request the outcome of your bids.
LOTS SOLD WITHOUT RESERVE
When the entire first part of the description is in red, this indicates that the lot is to be sold without reserve, as is also stated beneath or alongside the description.
SALES RESULT
Price lists are made available online at www. antiquorum.swiss approximately 24 hours after the end of each auction.
PAYMENT
Payment for purchased lots at any Antiquorum auction is due within 7 days of the sale date.
• For only online auctions, the buyer’s premium is: 26% of the hammer price on each lot up to and including CHF 1,000,000, 20% from CHF 1,000,001 to CHF 5,000,000 and 15% for all amounts in excess of CHF 5,000,001.
• Extended payment terms or special credit terms can be arranged on occasion, before the auction.
• For information regarding payment policies : please contact accounting department at Antiquorum Geneva, tel. +41 (0) 22 909 28 50.
PAYMENT METHODS
Payment may be submitted in cash, by wire transfer, check (restrictions apply) or credit card (restrictions apply).
• Wire transfer Please refer to the wire transfer instructions as shown on your customer invoice.
• Cash is limited to the equivalent of Chf 10,000.
• Credit cards : Major credit cards are accepted (additional charge) 2% service charge for MasterCard, Visa and American Express
• For buyers having paid by credit card, a shipping delay of 3 to 7 working days may apply in order to do additional controls.
ONLINE INTERACTIVE AND ABSENTEE BIDDING
Antiquorum’s fully secure online interactive bidding system allows prospective buyers to place interactive bids directly through the bidding platform https://live.antiquorum.swiss. Especially designed to offer the suspense and excitement of a traditional auction room.
For collection of lots purchased, the buyer will need to contact Antiquorum with instructions. Collection of purchased lots can only take place once the invoice has been paid in full. For more details, contact Antiquorum Geneva, tel. +41 (0) 22 909 28 50.
SHIPPING & INSURANCE
Winning lots (watches and jewelry only) are available for pick up at our Geneva office for buyers having selected the collect point Geneva and at our Hong Kong office for buyers having selected the collect point Hong Kong. All others will be shipped directly to their location as per buyer‘s instructions. Please note that buyers are responsible for all shipping fees and any other applicable fees including value added tax, customs duties etc… for importation to their respective countries. 1% of the hammer price plus premium will be charged to cover the insurance liability, as according to law once the hammer falls the buyer is responsible for the insurance of the lot.
Please note Antiquorum is not responsible for shipping clocks, furnitures, voluminous and/or fragile items.
Our shipping department will assist you in choosing a third party crating service.