Conditions of Sale

The following terms and conditions are accepted by all persons participating in the auction:
Auction bidding is conducted in ALL, EUR. The highest bidder who has been acknowledged by the auctioneer when the hammer falls after the third call has legally bought the lot. Bidding usually begins at 80% of the estimate, provided no higher offers have been submitted. Written bids have priority. The successful bidder has committed himself personally to the purchases made. He cannot claim to have acted on behalf of a third party.
Absentee bidders can send bids electronically until the beginning of the sale. Bidders wishing to send a written bid by email, fax or participate by telephone must send their bids no later than 24 hours before the start of the auction. All bids are final and binding. Telephone bidders must agree that calls may be recorded. The auction house does not accept liability for bidding mandates made by telephone, electronically or in writing.
Bidders must show proof of identification before the auction, and subsequently be registered. The Auction House may require a bank reference and/or guarantee. The Auction House reserves the right to deny a person from participating in the auction.
The auctioneer may raise or reject a bid without giving a reason, and furthermore reserves the right to combine or split up catalogue lots, or to offer them out of sequence or omit or withdraw them from the auction.
A commission of 21.0% will be levied on the hammer price. Phone bidders and bidders using our Live Internet facilities pay an additional charge of 1% of the hammer price, on top of the 21.0% commission. The Albania value added tax (VAT) of 20 % is payable on the final price (hammer price, plus buyer’s commission and any other amounts chargeable by the Auction House to the buyer). Gold coins (AV) are exempt from VAT. If the purchases are exported, then the VAT will be refunded on production of a legally valid original export declaration issued by Albanian Customs.
Payment is in ALL, EUR and is immediately due upon adjudication of the lot and has to be paid with the release of the object to the Buyer, unless otherwise agreed before the sale. Late payments will incur a monthly default interest of 1%. Title in a lot will not pass to the Buyer until ACN has received full payment on their account. acn.al will generally not release a lot to a Buyer before payment. Earlier release of the lot does not affect its title nor the Buyer’s obligation to pay. If the Buyer has failed to make immediate payment and within 5 days after receipt of a registered, written reminder by acn.al to the buyer, acn.al may in its sole discretion cancel the sale of the lot.
Shipping and insurance are at the buyer’s cost and risk. Any fees and charges payable abroad are borne by the buyer (successful bidder) who is responsible for acquiring the necessary information about any applicable customs and foreign exchange regulations. The Auction House accepts no liability for any contraventions of such regulations.
All identifications and descriptions of the items sold in this catalogue are statements of opinion and were made in good faith. Should an item sold at auction later be found to be a fake, acn.al shall cancel the sale made on behalf of the consignor and refund the sales price (including VAT as applicable) to the buyer. The buyer is entitled to claim such a refund within a period of two years from the date of the auction, provided that they have notified acn.al of the defect by registered letter within 5 days from its detection.
The objects which come under the hammer are auctioned on behalf of a third party or are the property of the Auction House. The buyer (successful bidder) has no entitlement to have the identity of the consignor disclosed to them and acknowledges that the Auction House might receive a commission from the consignor for the sale.

ACN reserves the right to use photographs and other representations of objects sold at auction, for promotional purposes, in its own publications and on its website.
The above conditions are a component of each individual contract of sale concluded at the auction. Alterations must be made in writing in order to be valid. If any parts of these Terms and Conditions should be no longer or not fully be in conformity with the valid legal situation, this shall not affect the content and validity of the remaining parts.
The contractual relationship between parties is subject in all facets to Albanian law. Place of performance is the registered office of thei Auction House in …………… Elbasan, and the exclusive court of jurisdiction is Elbasan.