General terms and conditions of sales

The auction is a public auction held by Antiquorum Genève SA (hereinafter “Antiquorum”) on behalf of the consignors of the lots being sold. A person’s participation in the auction and/or purchase of any lots constitutes an agreement to be bound by these Conditions of Sale as well as all rights and obligations arising therefrom.

The Important Notices contained in this catalogue are deemed to be a part of these Conditions of Sale and are hereby incorporated in their entirety into these Conditions of Sale. Except as amended by Antiquorum in its sole and absolute discretion by the posting of notices or oral announcement at the auction or otherwise, these Conditions of Sale together with the Important Notices and the other contents of this catalogue constitute a full recitation of the terms and conditions under which sales are conducted and may not be amended except in a writing acknowledged by Antiquorum.

Unless otherwise agreed in writing by Antiquorum these Conditions of Sale shall apply to auction sales as well as all other sales made by Antiquorum. Antiquorum accepts no responsibility for and shall not be liable for any defaults by any Buyers or Consignors. The auction is held by a Huissier Judiciaire of the Canton of Geneva (hereinafter “the Auctioneer”).

The Auctioneer reads the essential clauses at the start of the auction. These Conditions of Sale are available on request. The French version of these Conditions of Sale is the authoritative and binding text.

LOTS OFFERED FOR SALE

Before the sale, all lots may be examined in the catalogue. All interested persons including, without limitation, bidder’s representatives and auction agents are understood to have examined all lots which they purchase and to accept them as they are at the moment of the end of the timer and not necessarily as described in any written material or oral communications. Those persons interested in purchasing any of the lots being sold shall be responsible for examining the lots personally to confirm their actual condition. All lots are sold “as is” according to their condition at the end of the timer. Buyer acknowledges that it is the responsibility of buyer to fully inspect each lot before bidding and hereby represents that the amounts bid for any lot are based solely on buyer’s own independent inspection and evaluation of that lot.

Antiquorum has included in the catalogue estimates of the value of the lots to be sold. Such estimates have been developed using such experts, tests and other methods as Antiquorum has deemed in its sole discretion to be appropriate under the circumstances. Antiquorum shall have no liability whatsoever relating to estimates of value attributed to the lots and all participants in the auction shall be responsible for reaching their own conclusions as to the value of the lots. Neither Antiquorum nor the consignor is responsible for any errors and omissions in the catalogue or any advertisements or other written material, it being understood that any description or statement therein does not constitute a warranty or representation and is provided for identification purposes only.

Unless specified in the catalogue, lots are subject to reserve price which is a confidential minimum amount the consignor is willing to accept. If the reserve price is not reached, the Auctioneer may withdraw the lot from the sale. Except for the limited warranty, contained in section 2 below, all lots are sold without any representations or warranties by Antiquorum or the consignor as to merchantability, fitness for a particular purpose, rarity, importance, the correctness of the catalogue or other description concerning the author, maker, origin, period, age, attribution, authenticity, provenance, weight or condition of any object. No statement (whether oral or written, made in the catalogue, an advertisement, a bill of sale, posting, announcement or elsewhere) whether made by any employee or agent of Antiquorum shall be deemed to be a warranty, representation or assumption of liability. Neither Antiquorum nor the consignor have any responsibility whatsoever for any defect in or deterioration of any lot.

WATCHES AND CLOCKS

(i) Almost all clocks and watches are repaired in their lifetime and may include parts which are not original. We do not give a warranty that any individual component part of any watch or clock is authentic. Clocks may be sold without pendulums, weights or keys.

(ii) As collectors’ watches and clocks often have very fine and complex mechanisms, a general service, change of battery or further repair work may be necessary, for which you are responsible. We do not give a warranty that any watch or clock is in good working order. Certificates are not available unless described in the catalogue.

(iii) Most watches have been opened to find out the type and quality of movement. For that reason, watches with water resistant cases may not be waterproof and we recommend you have them checked by a competent watchmaker before use.

JEWELS

(i) Coloured gemstones (such as rubies, sapphires, emeralds….) may have been treated to improve their look, through methods such as heating and oiling. These methods are accepted by the international jewellery trade but may make the gemstone less strong and/or require special care over time.

(ii) All types of gemstones may have been improved by some method. We do not obtain a gemmological report for every gemstone sold in our auctions. Where we do get gemmological reports from internationally accepted gemmological laboratories, such reports will be described in the catalogue. Because of differences in approach and technology, laboratories may not agree whether a particular gemstone has been treated, the amount of treatment or whether treatment is permanent. The gemmological laboratories will only report on the improvements or treatments known to the laboratories at the date of the report.

(iii) For jewellery sales, estimates are based on the information in any gemmological report or, if no report is available, assume that the gemstones may have been treated or enhanced. Any lot sold at auction may be affected by laws on exports from the country in which it is sold and the import restrictions of other countries. Many countries require a declaration of export for property leaving the country and/or an import declaration on entry of property into the country. Local laws may prevent you from importing a lot or may prevent you selling a lot in the country you import it into. Be aware that gold of less than 18ct does not qualify in all countries as ‘gold’ and may be refused import into those countries as ‘gold’.

LIMITED WARRANTY

Except as otherwise provided in the paragraph immediately following, Antiquorum warrants that, upon the consummation of the sale of any lot under the terms and conditions contained in this catalogue, clear and unencumbered right, title and interest in and to such lot shall pass to the buyer. Antiquorum guarantees for a period of one (1) year from the date of sale that the authorship of each lot in this catalogue is as set out in the bold or capitalized type in the catalogue description of the lot. Antiquorum makes no warranties, whatsoever, whether express or implied, with respect to any, material in the catalogue other than that appearing in the bold or capitalized heading subject to the exclusions below. Antiquorum does not guaranty that all component parts of any timepiece are original to the timepiece.

If an official document issued by the manufacturer, such as an extract from the archives or a certificate of authenticity, is not provided with a watch, Antiquorum does not warrant that the case and movement are matching. A non-matching case and movement does not question the authenticity of a watch. Please be advised that no cancellations will be accepted on this basis.

The guarantee does not apply if the catalogue description was in accordance with the opinion of generally accepted experts and specialists at the date of the sale, or the catalogue description indicated that there was a conflict of such opinions. The guarantee is provided for a period of one (1) year from the date of the relevant auction, is solely for the benefit of the original purchaser of record and is not transferrable. In the event of any claim by the original purchaser regarding a bold or capitalized provision, said purchaser must

(i) notify Antiquorum in writing within 7 days of receiving any information that causes the original purchaser of record to question the accuracy of the bold or capitalized type heading, specifying the lot number, date of the auction at which it was purchased and reasons for such question: and

(ii) return the lot to Antiquorum at the original selling location in the same condition as at the date of sale to the original purchaser of record and be able to transfer good title to the lot, free from any third party claims arising after the date of such sale.

Antiquorum has discretion to waive any of the above requirements. It is specifically understood and agreed that the rescission of a sale and the refund of the original purchase price paid (the successful hammer price, plus the buyer’s premium) is exclusive and in lieu of any other remedy which might otherwise be available as a matter of law, or in equity. Antiquorum and the consignor shall not be liable for any incidental or consequential damages incurred or claimed, including without limitation, loss of profits or interest. Other than the limited warranty and guarantee provisions above, Antiquorum and the consignor make no representations, warranties or guarantees regarding the lots sold hereunder.

THE AUCTION

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 up to and including CHF 1,000,000, 20% from CHF 1,000,001 to CHF 5,000,000 and 15% from CHF 5,000,001. Antiquorum may in its sole and absolute discretion and at any time withdraw, group differently or divide any lot included for sale and shall have no liability whatsoever for the same. Antiquorum reserves the right to refuse any bids in its full and absolute discretion. In the event of any dispute between bidders, or any other issue with respect to the bidder, the Auctioneer will have absolute discretion to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the article in dispute. 

Bidding increases as follow :

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

PAYMENT

Title to the offered lot passes to the buyer upon the end of the timer, subject to compliance by the buyer with all other conditions of sale, including full payment as required hereunder. Buyer shall have no right to revoke acceptance of any lot after the end of the timer.

The buyer thereupon assumes full risk and responsibility for the lot. The buyer shall immediately pay the full purchase price, buyer’s commission and all applicable sales and other taxes in Swiss francs using a method of payment acceptable to auctioneer (including Swiss currency, bank wire). Lots are delivered to the buyer only upon the full payment of all such amounts. Shipping and packing arrangements and charges are the sole responsibility of the buyer. After payment has been made in full, Antiquorum may, as a service to the buyer, arrange to have the purchased lots packed, insured and shipped at the buyer’s request and expense. In this event, the buyer agrees that all said packaging, handling and shipping is at the sole risk of the buyer and that Antiquorum shall have no liability for any loss or damage to the purchased lots. Antiquorum may move the property to an off-site storage at the risk of the buyer. Buyer will be required to pay all applicable taxes, or fees levied by any authority (unless Antiquorum receives satisfactory proof of exemption, to be determined in Antiquorum’s sole discretion).

A 8,1% VAT is applicable to each sale. VAT will be entirely refunded upon receipt of an export declaration validated by the Swiss Federal Customs Administration. It is expressly agreed that consignor shall only receive payment for a lot provided Antiquorum has received full payment from buyer, including such lost commissions and administrative and handling charges.

REMEDIES, APPLICABLE LAWS AND JURISDICTION

To the extent that any other information or provision set forth in this catalogue is inconsistent with the Conditions of Sale, the Conditions of Sale shall be controlling. If the buyer fails to comply with any of these Conditions of Sale, Antiquorum may (in addition to asserting all remedies available by law),

(i) hold such defaulting buyer liable for the purchase price;

(ii) cancel the sale;

(iii) resell the property without reserve at public auction or privately on seven days’ notice to the buyer;

(iv) pay the consignor an amount equal to the net proceeds payable in respect of the amount bid by the defaulting buyer and then resell the property to a third party without reserve at public auction or privately on fifteen (15) days written notice to such buyer; or

(v) return the lot to the consignor, provided fortyfive (45) days have elapsed and no payment has been received from buyer; or

(vi) take such other action as Antiquorum deems necessary or appropriate. If Antiquorum resells the property pursuant to clause (iii) or (iv) above, the defaulting buyer shall be liable for the payment of any deficiency between the purchase price and the price obtained upon resale and all costs and expenses, including administration, handling, insurance, warehousing, the expenses of both sales, reasonable attorneys’ fees, commissions, incidental damages and all other charges due hereunder. In the event that such buyer pays a portion of the purchase price for any or all lots purchased, Antiquorum shall apply the payment received to such lot or lots as Antiquorum, in its sole discretion, deems appropriate.

Any buyer who fails to comply with these Conditions of Sale will be deemed to have granted Antiquorum a security interest in, and Antiquorum may retain as collateral security for such buyer’s obligation to it, any property in Antiquorum’s possession owned by such buyer. This security interest secures the principal amount of any such claim and also any outstanding or accruing interest, commissions, costs and all other fees as well as any and all damages suffered by Antiquorum. Antiquorum is entitled, but not obliged, to realize freely the security interests without further formalities and without previous notice to the buyer who is in default of payment on his debt or in the fulfilment of any other obligation hereunder. In any event, Antiquorum will be entitled to realise its security on a private treaty basis. For this purpose, Antiquorum is not bound to comply with the the formalities of the Federal Law dealing with actions for debt and bankruptcy proceedings ; in addition, Antiquorum may choose to institute or proceed with the usual proceedings witjout having beforehand sold the secured goods and without having moreover given up its rights to them.

Payment will not be deemed to have been made in full until Antiquorum has collected sufficient funds. In the event the buyer fails to pay any or all of the total purchase price for any lot and Antiquorum nonetheless elects to pay the consignor any portion of the sale proceeds, the buyer acknowledges that Antiquorum shall have all of the rights of the consignor to pursue the buyer for any amounts paid to the consignor, whether at law, in equity, or under these Conditions of Sale.

The buyer’s sole and exclusive remedy against Antiquorum and the consignor shall be the rescission of the sale and the refund of the original purchase price paid for the lot. This remedy shall be in lieu of any other remedy which might otherwise be available as a matter of law, and neither Antiquorum nor the consignor shall be liable, in whole or in part, for any special, incidental or consequential damages, including, without limitation, loss of profits.

By bidding at the auction, whether present in person or by agent, by absentee bid, telephone, internet, or other means, the buyer shall be deemed to have consented to the following: this agreement shall be interpreted and enforced according to Swiss law by the Courts of the Canton of Geneva and the buyer hereby irrevocably and unconditionally submits to the exclusive jurisdictions of the Courts of Geneva, subject to appeal to the Swiss Federal Court, over any suit, action or proceeding arising out of or relating to this agreement. The buyer hereby irrevocably and unconditionally waives any objection to the laying of venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. The buyer agrees that a final judgment in any such suit, action or proceeding brought in any such court shall be conclusive and binding upon the buyer and may be enforced in any other courts to whose jurisdiction the buyer is or may be subject, by suit upon such judgment;

• No waiver, delay, modification or breach of any provision of this agreement by Antiquorum shall constitute a waiver of any preceding or succeeding breach of the same or any other provision hereof.

• If any part or provision of this agreement is, for any reason, adjudged unenforceable, such adjudication shall in no way affect any other part or provision of this agreement or the validity or enforcement of the remainder of this agreement, and the part or provision affected shall be curtailed or altered only to the minimum extent necessary to make it conform to the applicable law.

COLLECTION
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 jewellery 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.

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 name, address, telephone number, email address. NOTE: First time bidders are required to provide a valid ID (passport, identity card or driver licence). 
• Accept Antiquorum’s terms and conditions of sale.
• Register to the auction on https://live.antiquorum.swiss, and fill up the 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.
• After approval, bidders will receive a confirmation email. Prospective buyers can now bid online.
For additional information about the online bidding system, terms and conditions of use and sale, please visit www.antiquorum.swiss.

ONLINE BIDDING
Antiquorum’s fully secured online bidding system allows prospective buyers to place online bids directly through www.antiquorum.swiss for all traditional auctions worldwide.

THE SYSTEM OFFERS MANY FEATURES TO FACILITATE

THE ONLINE BIDDING PROCESS:
• 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.

BANK REFERENCES
(transfer to be made in euros;
bank charges to be borne by the client)

Account holder:
ANTIQUORUM Geneve SA
Bank name:
UBS
Account number: N° 0240-121155.01X
IBAN: CH850024024012115501X
Swif t code: UBSWCHZH80A

Antiquorum is a partner of Watch Certificate™, the authentication and certification service that accompanies your timepiece throughout its life.

Protect and enhance the value of your watch thanks to the Watch Certificate™

– Condition report: you access specific information about your watch, detailed with 53 standardized checkpoints, illustrated with 8 photographs of your watch.

– Market value: you have an estimate validated by an internationally recognized expert and recognized by insurers.

– History: you benefit from a logbook to record each maintenance operation, and which enhances the value of your watch over time.

– In the event of theft: you get assistance in your dealings with the police and insurance. The theft is reported to the manufacturer and your watch is placed on active surveillance. If it appears on one of the main online platforms or auction houses, you block its resale and maximize your chances of getting it back.

To find out more, visit the Watch Certificate™ website

https://www.watchcertificate.com/

For anyone subscribing to the Watch Certificate™, our partner’s terms and conditions apply, which can be found at https://www.watchcertificate.com/legal/ conditions-generales-de-vente