Terms of sale - Nomisma 38 E-Live

TERMS AND CONDITIONS

Nomisma S.p.a. (hereinafter "Nomisma") carries out auction sales of goods based exclusively on these general conditions of sale (hereinafter the "General Conditions"). Any general conditions applied by customers will therefore not be applicable and will remain ineffective.

The auction sale of goods grouped into lots is carried out in places open to the public. Sales are made to the highest bidder and are intended for "cash".

Nomisma acts as an agent with its own name on behalf of the owners of the goods offered for sale. The sale must be considered to have taken place between the owner and the buyer. It follows that Nomisma does not assume any responsibility towards buyers or third parties in general other than those deriving from its role as agent. All responsibility continues to be borne by the owners of the goods. The Award of the Sales Manager (or the Auctioneer) determines the conclusion of the sales contract between the owner and the buyer.

1. LOTS FOR SALE - STATE OF PRESERVATION

The lots are sold in the conditions in which they are found ("as is"). The descriptions and illustrations contained in the catalogs, on the website or in any other illustrative material are purely indicative and will not generate any kind of damage to the successful bidders. By appointment, it will be possible to view the lots in the days prior to the auction and thus until the beginning of the same with the aim of examining the authenticity, attribution, state of conservation, origin, type and quality and any defects of the items offered for sale and clarify any compliance with respect to what is indicated in the catalog. By registering and / or participating in the auction, those interested in purchasing a lot acknowledge that they have had the opportunity to examine it in depth, eventually with the advice of a trusted expert, to ascertain all its characteristics.

Nomisma does not guarantee in any way the contents of technical expertise on coins or other objects offered for sale, including by way of example and not limited to: watches, jewels, pens and books, carried out by third parties or entities; such contents will be purely indicative.

After the award, no disputes are allowed regarding the contents of appraisals on coins or other items offered for sale, including by way of example and not limited to: watches, jewelry, pens and books, made by third parties or entities.

In particular and for greater clarification of these General Conditions, with regard to the following objects possibly placed in auction, the following is specified:

a) Watches.

The descriptions of the watches have been made by our experts in good faith and conscience but every description, as well as our every opinion, is to be understood as absolutely indicative and does not exempt the potential buyer from direct verification in person according to the said provisions for access to the goods.

Nomisma does not guarantee the correct functioning of the watch even if in the description criteria of reliability and rigor have been kept, listing both merits and defects, evident and otherwise. Each watch is sold in the state of fact and law in which it is found and subsequent complaints on the originality of the various components will not be accepted. Therefore, the final purchaser is advised to carry out a thorough review of the object at authorized centers.

During the sale, for internal and logistic reasons, it will not be possible to examine the watches. Potential bidders are strongly advised to take an appointment with Nomisma before the auction in order to examine the watches of interest directly and possibly with a trusted expert.

Without prejudice to all of the above regarding the condition of the goods and their description, Nomisma is available to send, upon request to be sent at least 7 working days prior to the auction, further photographic or video material as it is available for telephone interviews.

The carats indicated in the goods descriptions are to be understood as estimated and the precise carat weight is not guaranteed.

b) Jewelery.

The descriptions of the jewels have been made by our experts in good faith and conscience but every description, as well as our every opinion, is to be understood as absolutely indicative and does not exempt the potential buyer from direct verification in person according to the said provisions for access to the goods.

Potential bidders/buyers are strongly advised to make an appointment with Nomisma before the auction in order to examine the jewels of interest directly and possibly with a trusted expert.

During the sale, for internal and logistic reasons it will not be possible to examine the jewels; each Jewel, in fact, is sold in the state of fact and law in which it is found and subsequent complaints will not be accepted.

The carats indicated in the goods descriptions are to be understood as estimated and the precise carat weight is not guaranteed.

c) Pens.

The description of the Pens has been made carefully but potential bidders/buyers are strongly advised to have a direct view of the said goods in order to ascertain the defects described and their authenticity. Each pen, in fact, is sold in the state of fact and law in which it is found and subsequent claims will not be accepted.

During the sale for internal and logistic reasons it will not be possible to examine the pens.

Nomisma is available to send, upon request to be sent at least 7 working days prior to the auction, further photographic or video material as it is available for telephone interviews to describe the goods.

d) Books.

The description of the books has been made carefully but potential buyers/bidders are strongly advised to have a direct view of them in order to ascertain the defects described which may vary according to different opinions. Each book, in fact, is sold in the state of fact and law in which it is found and once the award has been made, no complaints will be taken into consideration regarding deficiencies, defects or classification errors.

During the sale for internal and logistic reasons it will not be possible to examine the books.

Lots offered for sale are to be considered as used antiques and as such not qualifiable as a "product" according to the definition set out in art. 3 lett. e) of the italian D.Lgs 6.09.2005 n. 206 (Consumer Code), referred to here for indicative purposes only but not binding.

2. COMPLAINTS

Unless otherwise provided in these Terms and general Conditions, Nomisma will consider complaints only regarding disputes on the authenticity of the lots, on the existence of serious defects or hidden defects and / or on the non-conformity between the purchased lots and those described in the auction catalog and available for viewing before the auction. In this regard, it will not be considered a lack of conformity that of which the buyer should have been aware at the time of purchase having had the opportunity to view the lot in the catalog or during the exhibition preceding the sale (ie the defect which he could not ignore using ordinary diligence).

Any complaints must be communicated by registered letter with return receipt within 20 (twenty) calendar days from the auction and in any case before Nomisma spa has made the payment to the transferor. In the event of a dispute, submitted and validated within the prescribed period, any obligation or liability will be limited to reimbursement to the buyer of the sum actually paid by him, excluding any other claim.

Complaints will not be accepted under any circumstances:

(a) for flaws or defects expressly mentioned in the catalog or easily detectable by the photograph of the lot or by viewing before the auction;

(b) relating to multiple lots such as collections or accumulations of any kind;

(d) inherent to the state of conservation of the lots being the evaluation of the conservation entirely subjective and the sale being subject to the clause "as seen and liked";

(e) for flaws or defects attributable to the conduct of the buyer following the delivery of the lot.

(f) after 20 days from the auction date.

Nomisma will give written feedback to complaints within 60 days from the receipt.

Nomisma will accept complaints only in the event that, in the opinion of two independent experts appointed by each party, the lot is found to be inauthentic, affected by serious defects or hidden defects and / or not at all compliant with what is described in the auction catalog. In this case, only the refund of the sums paid for the purchase and delivery of the lot will be due to the buyer, any compensation or refund being expressly excluded. In the event that the customer submits a coin to the grading companies after the auction, the judgment of the latter regarding conservation and in particular regarding, for example, the definitions of CLEANED, DETAILS etc. cannot be contested against Nomisma spa as it does not give the right to terminate the contract.

3. LIMITATION OF LIABILITY

Nomisma assumes no responsibility in relation to any damage that may arise to the buyer, who assumes all risk in relation to any damage that may arise from, or be related to, the purchased goods.

4. PARTICIPATION IN THE AUCTION

To participate the auction in the room, subjects who intend to compete for the award of any lot, must ask for the appropriate "identification number" from Nomisma personnel and communicate their personal details and registered residence, with exhibition and copy of the document of identity and tax code. Nomisma reserves the right to request from the participants in the auction information on general information and bank references, as well as the right, also and not only following these checks, to prohibit unwanted participants from entering the room. If the participant acts in the name and on behalf of another person or entity, a suitable verifiable power of attorney must be presented before the auction is held.

To participate in the "online" and / or "E-live" auction (in both cases also by correspondence or telephone), the participant must sign and send the appropriate form to Nomisma within the starting time of the reference auction, thus accepting to take part in it and undertaking to pay the realized price if the asset is awarded. In any case Nomisma will not be held responsible for non-participation if this form is not received in due time, or if it is not properly filled in. The participant also agrees to check, at the end of the auction, if his offers have been successful, relieving Nomisma of any responsibility in this regard. Complaints due to negligence, lack of clarity or error in the compilation of written offers by correspondence will not be accepted.

Nomisma disclaims any responsibility towards those who participate in the auction in the event of non-execution of the participation due to any misunderstandings that may occur during or before the telephone and / or internet connection.

To participate in the online auction, you must register on the website www.nomismaweb.com; participation can only be made online by accessing the Nomisma website and the award will be made to the highest bidder. The lots, which can be viewed in advance on the Nomisma website and in the related Catalog, are offered for sale at an auction base (estimate) under which they cannot be awarded. The possibility of making bids is limited to a predetermined duration, indicated from time to time, during which it will be possible, at any time, to make a maximum bid for each lot.

Following the award of a lot, the successful bidder will receive the informations necessary for the balance of their purchases and the methods of collection or delivery of the lots. Upon request and at the expense of the successful bidder, Nomisma can arrange home delivery by specialized courier.

The Participant/customer is made fully aware of how Nomisma is required to comply with the national anti-money laundering legislation of San Marino (Law no.82 of June 17, 2008), together with its subsequent amendments and additions, and therefore unconditionally accepts that upon the said legislation the so-called "Adequate Verification" (Adeguata Verifica) is requested, in addition to the delivery of documents and information to the successful bidder; by signing and accepting these Conditions, the Participant also undertakes to do everything necessary so that Nomisma carries out this activity aware of the fact that, even after the award and payment of the price, Nomisma will have the right not to release the goods if the "Adequate Verification ” will not have been completed as required by the law.

In particular, the "Adequate Verification" literally consists of the following:

• identification of the Participant/customer and verification of his identity on the basis of documents, data or information obtained from a reliable and independent source;

• identification of the beneficial owner and adoption of reasonable measures to verify his identity, by using information and data from reliable sources, so that the designated person is certain of the identity of the beneficial owner;

• understanding and acquiring information on the purpose and intended nature of the business relationship or professional service. In any case of a high level of money laundering and terrorist financing risk, the activity of understanding and acquiring information on the intended purpose and nature should also be applied to occasional transactions, other than professional service;

• exercise a constant control of the business relationship, also by carrying out a check on the transactions concluded during this relationship, in order to ensure that they are consistent with the knowledge that the designated subject has of the customer, of his economic activity and his profile risk, including, if necessary, the origin of the funds, and ensure that the documents, data or information held are kept up to date. In the presence of a high risk of money laundering and terrorist financing, the designated subject must carry out, with increased frequency, a review of the documents, data and information previously obtained and, if necessary, initiate further investigations on the client's operations.

Nomisma's auctions are not subject to the right of withdrawal as they are preceded by the display of the lots that can be viewed before bidding, at the San Marino headquarters.

For participation in auctions, in any of the aforementioned methods, Nomisma reserves the right at its own discretion to ask the participant, who unconditionally accepts with the registration, the release of suitable guarantees to allow the participant to be able to formulate offers for the purpose the award of an asset subject to the auction. It also reserves the right to refuse offers from unknown or unwelcome buyers, unless a deposit is left to fully cover the price of the desired lots or other adequate guarantee is provided. The person who has secured the offer and who fails to win the lot (s) will in no case be able to claim other sums beyond the amount of the deposit itself, expressly renouncing as of now any action in this regard. For auctions in the hall, Nomisma reserves the right to deny anyone, at its discretion, entry to its premises and participation in the auction. Following the non-payment or delayed payment by a buyer of a lot awarded to him, Nomisma may refuse any offer made by him or by his representative in the course of subsequent auctions.

5. OFFERS

Nomisma has the right to withdraw from the auction any goods put up for sale and also has the right, at its sole discretion, to combine or separate the lots and to vary the sale order, provided that the lots are not put up for auction before the expected date. The Auctioneer has the right to accept both offers from the public present and those of people not present, or by telephone, by correspondence or online, provided that they are communicated prior to the auction in the forms established for the auction itself and can be found in the relative regulations, as regulated above.

The auction starting price correspond to the estimation indicated for each lot; bids lower than that estimate value cannot be accepted in any way.

The minimum raises are regulated by the Auctioneer of the sale. The award of the assets is made at the best bidder, with a specific declaration by the Auctioneer which will be valid as acceptance of the bid, proposed by the participant in the auction. For the same value, the order of arrival will be taken into account. Participants in the mail order auction can inquire about the outcome of their bids by calling 0549/904012, starting three working days after the auction has closed. Nomisma spa assumes no responsibility in informing customers of the outcome of their offers.

Where a dispute arises about the award, the disputed property, at the sole discretion of the Auctioneer, may be withdrawn from the auction, or put back up for auction in the same session, on the basis of the last bid collected.

Nomisma reserves the right to refuse offers from, or attributable to, subjects who have not previously duly honored pecuniary obligations, including as compensation for Nomisma itself.

It should be noted that the estimated values indicated in the catalog are expressed in euros and constitute a simple advice.

6. AUCTION RIGHTS

To the hammer price, which will take place on the third call, auction rights are to be added in an amount equal to 21,63% (twenty-one point sixty-three). Any further charges or taxes relating to the purchase will in any case be borne by the successful bidder.

7. DELIVERY OF THE AWARDED LOTS AND PAYEMENT

The awarded lots must be paid and collected by the buyer no later than 24 hours after the award, an essential deadline for all legal purposes. The collection must take place at the Nomisma headquarters by and at the expense of the successful bidder. Nomisma will be obliged to deliver the awarded assets only after successful payment of the full amount to which the lot was awarded by the buyer plus the auction rights. At its discretion, Nomisma may ask the buyer to pay a deposit to finalize the award, on the same day of the auction. From the award to the withdrawal, the goods will be in storage at the exclusive risk of the buyer.

Payment can be made in cash, provided that it is not equal to or exceeds the legal amount provided for by current legislation, by bank draft made out to Nomisma S.p.a., by bank transfer to the bank account that will be communicated at the time of the award. In the latter case, the payment will be considered valid and the lot will be delivered only with successful completion and once the amount is irrevocably credited to Nomisma's bank account.

Shipments by Post of the awarded goods will be processed only after advance payment; the goods will travel at the expense, risk and peril of the customer. For invoices not paid within 30 days, interest will be charged at the statutory rate increased by 7% per annum. The buyer is required to observe any customs laws and incur the related costs, including postage which, unless otherwise communicated in writing by Nomisma, are listed below for each shipment:

• up to €300.00 packaging costs €15.00 + 1% of the receipt value for insurance (Italy)

• up to €300.00 packaging costs €25.00 + 1% of the receipt value for insurance (rest of the world)

• over €300.00 packaging costs €20.00 + 1% of the receipt value for insurance (Italy)• above € 1,000.00 and up to € 3,000.00, postage costs € 26.00;

• over €300.00 packaging costs €35.00 + 1% of the receipt value for insurance (rest of the world)

• for amounts exceeding €3,000.00, the costs will be calculated based on the type of shipping

Nomisma will take care of the shipment of the awarded lots in the best possible way, always remaining the risk borne by the customers who must provide precise instructions for the shipment itself, bearing in mind that San Marino is not an EU country and therefore considering all current customs and postal regulations. By way of example, it should be noted that it is not possible to ship by registered mail to the following countries, among others: Great Britain, Germany, Albania, Canada, USA and Arab countries in general. For Great Britain, Germany, Canada, USA, Nomisma will take out private insurance without any commitment or liability.

It is not possible to ship with insurance even by courier in Arab countries in general. In the event of the issuance of a T2 customs document, customers are required to pay import customs duties as a deposit; this sum will be returned when the customs document is closed. Customers are requested to inquire in advance about these customs and postal provisions before placing the purchase order. It is dutifully specified that FEDEX and DHL do not collect coins in Italy or in San Marino.

In the event that the buyer does not present himself for the collection/withdrawal of the lots within the terms established above and fails to pay the entire amount due within the essential deadline for all purposes of the law provided for by these General Conditions, or in the event he presents himself but does not pay in whole or in part, the total amount due within the terms set out in these General Conditions, Nomisma will be entitled, at its discretion, without prejudice to any further legal rights and remedies to: (i) terminate, in the name and on behalf of the seller, the sale contract, it being understood that in this case Nomisma may ask the successful bidder for compensation, in its own favor and / or in favor of the assignor, for all damages that have arisen, in particular and by way of example, by the lower price achieved in a subsequent sale, by the rights, expenses, charges, including legal ones, borne, also having the right to withhold as damage any advances received on the price, etc .; or (ii) take legal action as a collection agent for the seller to obtain the compulsory execution of the purchase obligation and the payment of the purchase price, plus interest, expenses, charges, and legal fees necessary to obtain the fulfillment of the sales contract. In the event of termination of the contract, Nomisma, at its own discretion, may decide whether to return the asset to the seller, demanding as a penalty from the successful bidder the amount corresponding to the non-payment of the lost commissions, or to sell the lot through private negotiation. or in subsequent auctions on behalf and at the expense of the successful bidder, except in any case the right to compensation for damages.

Once the term referred to in the first paragraph of this article has elapsed, Nomisma will remain responsible for the custody of the awarded lot(s) towards the successful bidder only and exclusively up to the transfer of ownership and / or delivery to the carrier, the buyer or his duly authorized delegate, without prejudice to his right to request any costs incurred for custody after the aforementioned term.

Any risk for loss or damage to the awarded lot(s) will be transferred to the buyer from the moment of transfer of ownership and / or delivery to the carrier, the buyer or his delegate.
The buyer will be able to obtain the delivery of the purchased goods only upon payment to Nomisma of the price and any other inherent commission, cost or reimbursement.

8. SALE WITH RESERVE OF OWNERSHIP

Lots are sold with reserve of ownership and therefore the said ownership will be transferred to the buyer only at the time of full payment of the price due for the sale plus the auction rights. The risk of loss or damage to the lots will be transferred to the buyer upon delivery of the lots. The delivery of the lots sold is in any case subject to the prior full payment by the buyer of the price due and all auction fees.

9. JURISDICTION

These General Conditions of Sale, exclusively governed by San Marino law and with the express exclusion of the rules of private international law, are tacitly accepted by all parties participating in the auction sale procedure and remain available to anyone who requests them. For any dispute relating to the auction sales activity at Nomisma, the exclusive jurisdiction of the Court of San Marino is established with the express exclusion of any alternative Court.

10. PRIVACY

Nomisma, in its capacity as data controller, informs that the data(s) provided will be used, by paper and electronic means, in order to be able to give full and complete execution to the sales contracts stipulated by the same company, as well as for the pursuit of any other service concerning the purpose of Nomisma Spa. The provision of data is optional, but it is strictly necessary for participation in auctions and for the execution of contracts. Registration for auctions allows Nomisma to send the catalogs of subsequent auctions and other information material relating to its activity.

At its sole discretion, Nomisma has the right to record the auction session in any form and has the right to record any telephone connections.

11. COMMUNICATIONS

Any communication relating to the sale/auction must be made by registered letter with return receipt. addressed to:

Nomisma S.p.a.

Strada Bulumina, 6

47899 Serravalle

San Marino

12. EXCLUSION OF LIABILITY RELATED TO THE TERMS OF SALE CONTAINED IN THE CATALOGS

This General Conditions of Sale, informations and the texts of the catalogs in a language other than the Italian language represent only auxiliary translations without a binding effect. Nomisma assumes no responsibility for the accuracy of such translations.

The Italian text of these General Conditions will be the only one to produce effects between the Parties and may be used overriding any translation; the translation / version in English is a simple convenience for those concerned.

13. MISCELLANEOUS

All copyrights relating to all images, illustrations and written documents, created by or for Nomisma Spa, relating to a specific lot or content of the catalog, are and will remain in the exclusive property of Nomisma Spa. Such contents cannot therefore be used by the buyer and / or any anyone without the prior written consent of Nomisma Spa.

Should one or more clauses of these General Conditions be or become ineffective or invalid for any reason, such ineffectiveness or invalidity will not affect the legal effectiveness of the remaining provisions. The ineffective or invalid provisions will be replaced by provisions suitable for safeguarding as much as possible the intent of the invalid provision.

Participation in the Auction implies full acceptance of these conditions of sale.

Any change or addition to these General Conditions of sale will be invalid if not made in writing.

14. SPECIAL CLAUSES

The bidder declares to have read, understood and expressly approve the extended General Conditions and in particular those of the following articles: 1, 2, 3, 4, 5, 7, 8, 9, 10, 12, 13 and 14.