General Conditions of Sale
TERMS AND CONDITIONS FOR THE EXECUTION OF COINSTORE ONLINE AUCTION
1. The Terms and Conditions for the execution of COINSTORE online auction (hereinafter referred to as the Terms and Conditions) determine the procedure for organising and execution of the online auction COINSTORE (hereinafter referred to as the Auction).
2. The purpose of the auctions is to sell to the Bidders numismatic and phaleristics items and paper money, as well as other antique items, selected by the Organiser and provided to the Auction. Batches of these items are set at the Organiser’s discretion and are referred to below as a lot/lots. One lot consists of one or more items specified in this paragraph of the Terms and Conditions, which are combined to a lot by the Organiser at his/her own discretion after assessing the interconnectedness and overall (collection) demand of the items.
3. Auctions are organised and executed by SIA COINSTORE legal entity established under the laws of the Republic of Latvia ; Reg.Nr. 40203071934, registered address Krišjāņa Valdemāra iela 17A, Rīga, Latvia LV-1010 (hereinafter referred to as the Organiser).
4. The trade in the Auction is carried out online at auction.coinstore.lv (hereinafter referred to as the Website).
5. Natural persons over 18 years of age and legal entities (hereinafter referred to as the Bidders) can participate in the Auction.
6. All persons who are willing to participate in the Auction can familiarise themselves with the lots provided for the Auction at the Organiser’s office (Krišjāņa Valdemāra iela 17A, Rīga, Latvia LV-1010) during the whole duration of the Auction, on working days, after agreeing on the time for familiarisation in advance with the person authorised by the Organiser.
7. Bidders cannot make any claims or objections to the condition of the lot/lots during the auction or payment for the purchased lot/lots referring to the fact that they have not been familiarised with them (lots) or because the Organiser did not provide information on the lots being sold at the Auction.
8. The condition of participation and purchase of lot/lots in the Auctions is the completion of the procedure of registration of the potential Bidder (a person willing to participate in the Auction) on the Organiser's Website.
9. Bidder registration is free and must be completed in order to participate in the Auction and purchase the lot/lots.
10. Registration takes place on the relevant page “Bidder Registration” of the Organiser’s Website where a potential bidder (registrant) must provide his/her personal data, such as name, surname, as well as his/her contact information, such as email, to which the Bidder wishes to receive all information related to the organisation and execution of the Auctions and a telephone number for the Organiser to contact the Bidder. A potential bidder (registrant) should create a username and password, which, once entered in relevant fields, shall enable him/her to log in and enter his/her ‘private office’. In addition, the registration should include the exact address (country, city, postal code, street, house and apartment numbers) at which the lot/lots purchased/won by the Bidder can be delivered. If the Bidder does not provide the exact address, as well as the full name of the recipient of the dispatch (lot/lots), the lot/lots purchased/won by the Bidder shall not be dispatched.
11. The personal data referred to in paragraph 10 of the Terms and Conditions shall be processed and stored in accordance with the legal acts regulating the processing and storage of personal data and shall not be disclosed or provided to third parties.
12. On the relevant page ‘Bidder Registration’ of the Organiser’s Website, a potential Bidder (registrant) should confirm in a specified line that he/she has read and agreed with the conditions set out in the Terms and Conditions and other documents related to the organisation and execution of the Auction. At the same time, by marking his/her consent to the Terms and Conditions of the Auction, the potential Bidder confirms that he/she is over 18 years of age.
13. Successful registration of a potential Auction Bidder shall be confirmed by a notice of the Organiser, which shall be sent to the Bidder’s email. This notice means that the person who has registered himself/herself becomes a Bidder, he/she is given bid limit and is aware of and, without exception, agrees that his/her personal data will be managed by the Organiser when organising and performing the Auction. Successful registration of a potential Auction bidder also means that the Bidder agrees to all Terms and Conditions of the Auction organisation and execution, including conditions of the payment and delivery of the purchased/won lot/lots, receipt of notices (including informational content thereof) by the Bidder’s email. The Bidder can unsubscribe to the Organiser’s newsletters at any time.
14. The Bidder is not advised to disclose his/her personal data and other data specified in paragraph 10 of the Terms and Conditions (including username and password) to any third parties. The Bidder shall be responsible for the protection of these data. Any bet made using a username and password created by a Bidder through its “private office” shall be considered a Bidder’s bet. If the Bidder suspects that the username and password that he/she has created may have been accessed or disclosed to third parties, the Bidder should immediately inform the Organiser who in turn shall block access to the Bidder’s “private room”.
15. In order to submit bids for the Auction, the Bidder should obtain activation of his/her personal entry on the Organiser’s Website.
16. The Organiser has the right to call by the telephone number specified by the Bidder. If the person who answers this telephone does not confirm all or part of the data provided by the Bidder in the course of his/her registration, the Organiser shall cancel the registration of such Bidder and shall not give access to the Auctions. The Organiser should cancel the Bidder’s registration if the voice of the person who answers the telephone gives doubts about the capacity of the potential Bidder, his/her age, etc.
17. The Organiser reserves the right to cancel the Bidder’s registration or prohibit further participation in the Auctions without any explanation.
TRADING AT AUCTIONS
18. The official language of the Auction is English. When a Bidder uses a Chrome browser, it (the browser) enables him/her to automatically translate texts into the language the Bidder understands. Prices of the lot/lots are provided in Euro. The lot/lots shall be purchased in Euro.
19. By publishing the online Auction directory on the Website, the Bidders permitted to bid can offer their prices (place bets).
20. The minimum auction step is provided in the table below:
TIME OF THE AUCTION
21. The Auction is announced on the Organiser's Website. The announcement shall state as follow:
All lots to be auctioned with the starting price per lot.
Starting time of automatic (non-live) betting at the Auction.
Starting time of live betting at the Auction which means live bets on the first lot in the auction shall be accepted in real time from the specified time.
22. The time specified in paragraph 21.2 and paragraph 21.3 of the Terms and Conditions, as well as other time used in the Auction shall be given in hours and minutes or in hours, minutes and seconds. If the time is given in hours and minutes, all actions up to and including the last second of that minute shall be considered completed on time. If the time is given in hours, minutes and seconds, all actions up to the last thousandth of a given second (0.999) shall be considered as completed on time.
23. If no new bets are placed within 10 seconds of the live bets on the Auction, bets shall be no longer accepted and the lot shall be closed. If at least one bet (bid) has been received within 10 seconds of the start of the live bets on the Auction, the trading of that lot shall be automatically renewed for other 10 seconds from the time (moment) of placing this bid and during this additional time Auction Bidders can bid (offer prices per lot). The winner of this lot is the bidder who offered the highest price (highest bidder).
24. Bets on the other lots are completed (stopped) in a row, i. e. before bets on one lot are not completed, bets on the other lots are not completed (not stopped) as well. The time interval between closing lots is 10 seconds.
25. Due to technical problems caused by actions of third parties or force majeure that have affected the normal operation of the Website during the execution and closing of the Auction, the Organiser has the right to:
Cancel the Auction results.
Until the lot winner is announced, remove any lot from the Auction at his/her (the Organiser's) discretion.
PARTICIPATION IN THE AUCTION AND ITS EXECUTION
26. To participate in the online auction, the Bidder should meet the following conditions:
If the Organiser remark the relevant page of the Website, the Bidder is entitled to participate in the Auction.
The Bidder has successfully completed his/her identity verification (authorisation), i.e. has logged in to the Organiser’s Website by using his/her (the Bidder’s) own username and password and entered his/her ‘private office’.
The Bidder proceeded the lot/lots page that he/she is interested in.
27. Bidders can increase (place) bids for the lot automatically (non-live) or live.
28. The Bidders can make bets (increase bids) automatically (non-live) at the start of the automatic (non-live) bets at the Auction as specified in the Auction announcement. When placing bets automatically (non-live), the Auction Bidders use the Autobid button on the Organiser’s Website, clicking of which, as well as the actions of a Bidder described in paragraph 35 of the Terms and Conditions mean that a Bidder increases a bid (bets) automatically (non-live).
29. The Bidders can make bets (increase bids) in live manner at the start of these bets at the Auction as specified in the Auction announcement. When placing bets (increasing a bid) in a live manner, the Auction Bidders use the Place Bid button on the Organiser’s Website, clicking of which, as well as the actions of a Bidder described in paragraph 33 and paragraph 34 of the Terms and Conditions mean that a Bidder increases a bid (bets) in a live manner.
30. Actions described in paragraph 28 or paragraph 29 of the Terms and Conditions means that the Bidder unconditionally and irrevocably agrees to purchase the lot displayed at the Auction at the price announced by the Bidder. By following the steps described in paragraph 28 or paragraph 29 of the Terms and Conditions, the Bidder also agrees with the commission fee and the delivery price of the winning lot set by the Organiser.
31. The lot for which a Bidder has placed a bid, either in automated (non-live) or live manner, goes to My Bids.
32. If a Bidder clicks the asterisk button (‘*’ Watching’) on the particular lot page of the Auction Website, then this lot shall go to the Watched Lots section of the lot.
33. If the price is increased in live manner, the Bidder shall bid for the lot being sold, which cannot be lower than the initial sale price of this lot set by the Organiser.
34. Other Bidders can only offer a higher price per lot live but each bid increase shall be within the range specified in the column ‘Step, in Euro’ of the table as specified in paragraph 20 of these Terms and Conditions (hereinafter referred to as the Step). When placing bets live, the Auction Bidder can set a higher price increase interval than one Step. During the Auction, its Bidders see the lowest price in Euros they can bid to win the Auction. Until the end of the Auction, the same Bidder can increase the price for an unlimited number of times. The Auction shows the highest bid for the lot being sold at the time.
35. If the price is increased automatically (non-live), the Bidder shall indicate his/her highest bid price, which shall be equal or at least one Step higher than the starting lot price set by the Organiser or the higher price already offered by another bidder in the Auction. The interval for automatic (non-live) price increase is one Step. By automatically increasing the price, the Bidder at the Auction can set a higher price increase interval than one Step. If the price is increased automatically (non-live), the starting price offered by the Bidder shall be displayed, which shall remain until the other Bidder offers a higher bid for the lot. If the other Bidder offers a higher bid, the price of the Bidder who has set the automatic (non-live) price increase shall be automatically increased in the interval specified by this Bidder (by one or more steps) until the price of the other Bidder exceeds the highest price of the Bidder who bid automatically.
36. If the Bidder, who is bidding live, offers the same price as the other bidder who bids automatically (non-live), then the bid of the Bidder who has previously increased his/her bid live shall be shown and it shall become the bid of the lot being sold at that time. This price can be increased by offering a higher bid live or by bidding higher than the current maximum bid automatically (non-live).
37. Until the end of the Auction, any Bidder can set an automatic bid increase or increase the highest bid previously set automatically (non-live). A Bidder cannot reduce the bid previously set automatically. A Bidder who raises his/her bid live cannot lower the bid.
38. The Winning Bidder shall be the Bidder who offered the highest bid. The bid price of the winning Bidder and the commission set by the Organiser, as well as the standard lot delivery costs, shall be the final price paid by the winning Bidder in accordance with Section 6 of the Terms and Conditions (hereinafter referred to as a Winning Bidder).
39. At the end of the Auction, the Website shall display the prices offered by each Winning Bidder per lot.
40. The Organiser’s Website software will automatically send notifications to the emails specified by the Winning Bidders. The notice to the Winning Bidder will specify all the lots he/she has won with the prices and separately the commission fee and standard lot delivery costs set by the Organiser.
VI. PAYMENT FOR WINNING LOTS,
ISSUE AND DELIVERY OF WINNING LOTS
41. The Organiser’s commission fee is 20 % of the winer bid in the Auction.
42. The Winning Bidder should pay for the lot and the commission fee specified in paragraph 41 of the Terms and Conditions within 14 calendar days after the end of the Auction.
43. Payment shall be made at the choice of the Bidder either by cash at the Organiser’s office, by transfer to the Organiser’s bank account or by credit card. Payment shall be based on the invoice issued by the Organiser in accordance with the results of the Auction. 43.2WE ACCEPT PAYMENTS FROM PAYPAL +3% (From invoice amount)
44. If the Winning Bidder fails to pay the Organizer or agree with the Organizer regarding the postponement of the payment term in the procedure set forth in paragraph 43 of the Terms and Conditions, the Organizer can cancel the winning of such Winning Bidder. In the event of cancellation of the win, the Organizer shall declare the auction of this lot to be unsuccessful and can, at his/her own discretion, display the unpaid lot in other auctions or return the lot to its owner.
45. When sending the lot/lots to the Winning Bidder, the Organiser will use the dispatch delivery services provided by Ups Global Shipping unless the Winning Bidder after the Auction, within 10 calendar days sends an email from his/her email to the Organiser’s email email@example.com to inform the Organiser about the other method of picking up or sending a dispatch (lot/lots) specified in paragraph 45.1, paragraph 45.2 and paragraph 45.3 of the Terms and Conditions, namely:Taken in person at the Organiser’s office.By handing over to the person specified by the Winning Bidder. The Winning Bidder shall forward the personal data of the Winning Bidder to the Organiser by email. All risks related to handing over the lot/lots to the person specified by the Winning Bidder shall be borne by the Winning Bidder. The Winning Bidder can choose the courier service himself/herself and notify the Organiser of it by email. The Winning Bidder email should include the name of the courier service and other details relating to the delivery of the dispatch to the courier service. All risks related to the dispatch (lot/lots) from the moment when it (the dispatch) was handed over by the Organiser to the courier or postal services shall be assumed by the Winning Bidder.
46. The Winning Bidder willing to insure the dispatch shall send a request for it to the Organiser’s email. Upon receipt of this request, the Organiser shall send a summary price of the insurance costs of the dispatch (lot/lots) to the Winning Bidder’s email. Insurance costs (prices) for each dispatch shall be calculated separately. Thus, upon delivery of a dispatch (lot/lots), lot/lots shall be fully insured against theft, damage and/or destruction. The dispatch with lot/lots shall be insured by the Organiser. The insurance contract shall enter into force and the delivery of a dispatch with lot/lots shall be started only after the Winning Bidder pays to the Organiser his/her specified price for the delivery services which includes the dispatch insurance and delivery costs.
Maximum insurance amount 41,000 euros, 2% of the insurance amount is required
47. After sending the lot/lots, the Organiser shall send a notification to the Winning Bidder’s email stating the details (registration number, etc.) identifying the dispatch.
48. Issue of lot/lots to the Winning Bidder or a person selected by him/her or the dispatch shall be started only after the Winning Bidder has paid the whole sum of the invoice issued by the Organiser.
49. If necessary, the Organiser can draw up the documents permitting the export of the lot/lots if the lot/lots is/are to be shipped (transported) outside the territory of the Republic of Latvia. The dispatch (transportation) of lots purchased at the Auction without the documents permitting the export shall only be possible in the territory of the Republic of Latvia. When formalising the documents permitting the export of lot/lots, the calculation of issue, delivery of all lot/lots and other deadlines provided in these Terms and Conditions shall be suspended. The calculation of terms shall be renewed once the documents permitting export of the lot/lots have been completed.
50. The Winning Bidder should pick up the insured dispatch (lot/lots) insured according to the procedure established in paragraph 46 of the Terms and Conditions personally and check that the package is not damaged in the presence of a courier service representative. In the event of any damage of the package, the Winning Bidder should immediately notify the Organiser of it and, together with the representative of courier service, draw up a report on the damage of the package.
51. Failure of the Winning Bidder to comply with the requirements set forth in paragraph 50 of the Terms and Conditions (i.e. if the violation of the package was found by the Winning Bidder in the absence of the courier service representative), the Winning Bidder (consignee) shall lose his/her right to the indemnity and shall be able to recover his/her damage only from the guilty individuals/persons who caused damage (if they are found by law enforcement agencies or the Winning Bidder independently).
52. If the parcel is insured in accordance with paragraph 46 of the Terms and Conditions, in the events of damage, irreparable destruction, theft and other similar cases, the Winning Bidder shall be indemnified only after the event has been recognised as insured and the Organiser has received the indemnity.
VI. ORGANISER’S GUARANTEES
53. The Organiser guarantees the authenticity of the lots displayed at the Auction and these guarantees are applied only for the Winning Bidder. The transfer of the lot/lots won by the Winning Bidder in any way to third parties shall result in the cease of the guarantees of the Organiser. The Organiser’s guarantee shall not be applied to coins in plastic capsules (SLABS). Such coins have the guarantee of GRADING companies.
54. Claims regarding the authenticity of the lot/lots purchased at the Auction can be submitted to the Organiser within 30 calendar days of the closing date of the Auction. When submitting a claim, the Winning Bidder should rely on the findings of at least two independent experts. These findings should include indisputable proof that the lot/lots are inauthentic (fake or counterfeit).
55. If the lot is found inauthentic (forged or counterfeit) by experts, the Winning Bidder should return the lot to the Organiser only in the condition the lot was on the day of the Auction. The lot/lots shall not be accepted by the Organiser if it is not in the same condition as it was on the day of the Auction. If coins, etc., were placed in plastic capsules (SLABS) on the day of the Auction, the Organiser shall not accept any claims from the Winning Bidder if coins or other items are removed (unpacked) from plastic capsules (SLABS) or that the integrity and tightness of these capsules (SLABS) were damaged.
56. The Organiser shall not accept any claims regarding the authenticity of the lot/lots purchased in the Auction if the inauthenticity (falsification) thereof is found by an expert examination which could not be carried out due to technical reasons prior to the Auction date or high costs of organising and conducting the expert examination (e.g. necessary transportation of the item for the expert examination abroad, etc.) were not expedient.
57. The Winning Bidder shall not be entitled to claim for the damages that exceed the lot price paid to the Organiser and the commission fee set by the Organiser, nor shall he/she be entitled to claim any moral damage and other additional expenses incurred by the Winning Bidder.
58. The evaluation of the condition of the lot on the Website is subjective opinion of our expert (if the coin is packaged in a plastic capsule (SLABS), the evaluation of condition of the coin is presented on the plastic capsule (SLABS)). Such evaluation of the condition of the coin cannot be considered as a basis for any claim against the Organiser.
59. Any claims regarding the lot status, weight, authenticity, etc. related to the lots for which the final price of the lot in the Auction is between €1 and €100 (excluding commission set by the Organiser) shall not be accepted and analysed due to inexpedience of the analysis, high costs of paying experts for work, etc.
60. Grouped lots and coin sets are sold as one piece. Claims for the parts of the items in grouped lots and authenticity for the individual coins contained sets and other types of the requirements (claims) shall not be accepted or analysed.
61. A registered Bidder, who has access to the auctions planned by the Organiser and lots sold therein on the Website, can verify the authenticity of the lot/lots placed at the Auction before making a bet, contact the Organiser’s specialists and obtain detailed information, including detailed photos of the lots to be sold.
VII. CONCLUDING PROVISIONS
62. The Terms and Conditions are subject to the amendment at the Organiser’s discretion. Information on the amendment to the Terms and Conditions and other documents related to the Auction is posted on the website. For registered Bidders, information about the amendment specified in this paragraph of the Terms and Conditions may be additionally provided to the emails specified by the Bidders.