1. The auction is conducted on behalf and for the account of the owners of the goods and is subject to Austrian Trade regulations. Bids at the sale, by writing or telephone are taken to imply full acceptance of the condition of sale.

2. Description: The description of the material and the grading in the catalogue have been executed with great care. The photographs are part of the description and in case of doubt the text is authoritative.

3. Auctions procedure: Written bids and special wishes regarding a top limit i.e. the amount to which you would bid if you were attending the auctions yourself, or either/or bids etc. will be executed in the buyer's interest, free of charge, but we don't take any responsibility for it. Errors in bidding are the sole responsibility of the bidder and we strongly suggest mail bidders check the bid sheets carefully. Orders, when placed by telephone, are accepted only at the senders risk and the intending purchaser must give notice prior to the auction date. Bidders unknown to us must establish references before the auction, and deposit 25% of the bids submitted. This deposit will be applied to successful bids, with overage refunded.
The prices printed in the catalogue are minimum prices in Euro and bids below cannot be accepted. In the event of identical bids, the earliest will take precedence. The auctioneer will normally increase the bidding in 5-10% jumps. The highest bidder shall be the purchaser at a price which lies 10% above the penultimate bid. In the event of any dispute during floor bidding, the auctioneer has the right to re-open the bidding or recall the lot and put it up for sale again. In case of error in the catalogue the auctioneer will announce the correction and will sell the lot subject to this change, not regarding the written bids unless the intending purchaser has given notice that he is aware of it. All floor sales are final.

4. Prices. The hammered-price is according to VAT-regulations the basis for adding the buyer's premium of 15% and the VAT to each lot. The capital letter left to the lot number indicates the VAT-rate for each lot:
B= freed from VAT. Usually prevailing legal currency.
D= the buyer's premium is 20% in which the VAT of 20% on the commission is included.
V= To the hammered price and the buyer's premium of 15% is added a VAT-rate of 20%, payable by all residents of EU countries. Customers resident in Germany are taxed after the German regulations and pay therefore 16% VAT only.
Lots which are not marked with a letter are subject to the reduced VAT rate of 10% (7% for Germany residents). To the hammered price and the buyer’s premium of 15% a VAT of 10 (or 7%) is added (=hammered price + 15% buyer's premium plus 10% or 7% VAT).
Dealers within the EU, except Austria, receive the goods free of tax upon presentation of their VAT identification number. Any buyer exterior to EU pays only a commission of 15% and the costs for delivery and insurance, as outlined above.

5. Shipment: Shipping is at the expense and risk of the buyer; handling and insurance charges will be added to invoices (Minimum charges: Europe: € 7,-, Non-European countries: € 10,-). We will arrange for the packing and dispatch your purchase worldwide. Insurance regulations require that losses or damage in shipment be reported to us immediately. All fees and taxes due abroad are the buyer's responsibility. Each bidder whether successful or not will receive within three weeks after the auction a list with the prices realized.

6. Payment: Sales strictly against cash in Euro. If nothing else is arranged in advance, bidders on the floor have to pay immediately. All other customers have to pay within 10 days upon receipt of goods or in case of advance payment, after an invoice is sent. After the period of 10 days has expired 5% interest are charged per month. Ownership of the lots shall not pass until payment in full of the purchased price is made. The buyer is responsible for attorney and other judicial fees and expenses involved in collection of any overdue debt. If the invoice is paid by credit card please understand that there is a 2,5 % surcharge for the use of the credit card. For a small amount (up to € 400,--) payment by credit card is more economical than a bank transfer. Otherwise credit our accounts

Österreichische Volksbanken AG
A-1090 Wien, Peregringasse 3
43000 BIC: VBOE AT WW
IBAN Nr: AT244300040620400008 40620400008 Euro

Österreichische Postsparkasse Wien
A-1018 Wien, Georg Coch Platz 2
60000 BIC: OPSKATWW
IBAN Nr. AT506000000007554872 7554872 Euro

Erste Bank 1010 Wien
Graben 21
20111 BIC: GIBAATWW
IBAN Nr: AT832011130000009290 300000-09290 Euro

Schelhammer & Schattera A – 1010 Wien,
Goldschmiedg. 6
19190 BIC: BSSW AT WW
IBAN Nr. AT791919000000204040 0000204040 Euro

Postbank München
70010080 BIC: PBNKDEFF
IBAN DE10700100800120008800 120008800 Euro

Schelhammer & Schattera A-1010 Wien,
Goldschmiedg. 6
19190 BIC: BSSW AT WW
IBAN Nr: AT461919001100041753 01100041753 USD

Banco Posta Vipiteno (Italy)
IBAN IT73K0760111600000037372372 37372372 Euro

Swiss Post Bern
9000 BIC: POFICHBE
IBAN Nr. CH5909000000800504679 80504679 CHF

Chase Bank New York
021000021 SWIFT Code CHASUS33 665015240465 USD

7. Claims: All coins in this sale are guaranteed genuine and as described. No lots may be returned by floor buyers except for reasons of authenticity. Complaints by mail bidders will only be considered if obvious defects, have been overlooked and not described in the catalogue. Customers who collect the goods personally must take this claims upon receipt, absentee bidders within 8 days upon receiving the goods. No claims will be accepted after this date. For those clients who make advance payment, the period of recognizing claims ends five weeks after the auction date. The claimed lot must be in the same condition as delivered. Coins, medals and decorations graded as "fine" or lesser quality as well as multiple lots are excluded from warranty. Claims are handled on behalf of the owner or seller i.e. the person or company who instructed the auctioneer to offer the material for sale. We reserve for us the right to ask the buyer to turn directly to the owner with his claim. This will always be the case when the accounts with the seller has been settled.

8. Any and all disputes shall be subject to the exclusive jurisdiction of the Vienna courts, except for those to recover payment for lots sold hereunder which may be pursued wherever the buyers may be found.

9. The German version for the conditions of sale is definitive in the event of any disputes.

H.D.Rauch GmbH
August 2003