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.

CONDITIONS AND INFORMATION FOR BUYERS

The purchase price payable by a buyer will be the sum of the final bid price plus the buyer’s premium, together with any applicable sales or compensating use tax. In addition to the hammer price, the buyer’s premium is payable as follows: 26% of the hammer price on each lot.

Please look carefully at all the photos as they are an integral part of the description. Any defect not mentioned in the descriptions but visible on the photos will be considered as described and cannot lead to any claim. The dimensions are given as an indication and may slightly differ from the measures mentioned by the manufacturers especially for contemporary watches. The photos are not retouched. Colors may differ from reality. For timepieces, we guarantee neither the functioning nor the precision of the movement, nor the water-resistance of the case. In addition, please note that movements, parts of mechanisms or cases may be incomplete.
The lots are sold “as is”, described to the best of our knowledge and cannot be returned. Once the online bid is placed by the bidder, it cannot be cancelled.

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

1. 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 or identity card and Italian fiscal code only for Italian customer).
2. 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.
3. Accept Antiquorum’s terms and conditions of sale.
   By clicking on “Confirm bid” I accept the sale terms and conditions
4. 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

Contact us on clientita@antiquorum.swiss for any informations about watch previews

CURRENCY CONVERSION

The auction is conducted in Euro.

The conversion rate is the fixed on the date of the auction.

Values Increments

from	EUR 0 to 200	by 10 €
from	EUR 201 to 500	by 50 €
from	EUR 501 to 1000	by 100 €
from	EUR 1001 to 4000	by 200 €
from	EUR 4001 to 10000	by 500 €
from	EUR 10001 to 20000	by 1,000 €
from	EUR 20001 to 50000	by 2,000 €
from	EUR 50001 to 100000	by 5,000 €
from	EUR 100001 to 500000	by 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 WITHOUT VAT is: 26% of the hammer price on each lot up to and including 1,000,000 €,20% from 1,000,001 € to 5,000,000 € and 15% for all amounts in excess of 5,000,001 €.
• Extended payment terms or special credit termscan be arranged on occasion, before the auction.
• For information regarding payment policies: please contact accounting department at Antiquorum Auctioneer SRL, tel. +39 02876625.

PAYMENT METHOD

Payment may be submitted by wire transfer and credit card (with service charge).

Wire transfer Please refer to the wire transfer instructions as shown on your customer invoice.

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 Auctioneer SRL, tel. +39 02876625.

SHIPPING & INSURANCE

Winning lots (watches and jewelry only) are available for pick up 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.