not be handed over to the buyer until the purchase price (hammer price
plus costs and VAT, if applicable) has been paid in full. Thus, the risks are
transferred at the time of the auction. Ownership passes to the buyer once
the invoice has been paid in full and possession has been transferred.
3.5 At DAVID FELDMAN S.A.’s request, sales must be officially
acknowledged by signature.
3.6 Payment: Successful bidders are obliged to pay the purchase price,
plus VAT if applicable, and the commission in cash in the currency of the
auction, against surrender of the goods purchased, within a maximum of
5 days of the auction.
Fees charged to DAVID FELDMAN S.A. for credit card payments will be
invoiced to the buyer. These vary from 1.5% to 5% depending on the
credit card company.
Cash payments are only accepted up to CHF 100’000.
3.7 Payment arrangements: Upon prior request at least 10 days before
the sale, DAVID FELDMAN S.A. may, at its own discretion, grant payment
arrangements to buyers. The buyer benefiting from such arrangements
will pay a minimum amount of 25% of the total invoice within a maximum
of 5 days from the date of the sale and will then pay the balance in equal
monthly instalments over a maximum period of 4 months. Monthly
interest plus costs incurred at the rate of 1% is charged by and on behalf
of DAVID FELDMAN SA from the date of the sale. Interest is debited
monthly to the customer’s account. In general, no lot is delivered
without full payment of the hammer price, the sales commission and,
if applicable, VAT.
3.8 Late payment: Payment must be made in cash as soon as the lot is sold.
Any buyer who has not paid the hammer price and the commission due in
full within a maximum of 5 days of the sale is already in default of payment.
In the event of default by the buyer, DAVID FELDMAN S.A. reserves the
right (1) to cancel the sale and dispose of the lot(s) concerned and to take
legal action against the buyer in order to obtain payment of an indemnity
of 24.5% of the hammer price and full payment of the commission due
plus interest of at least 1% per month or (2) to enforce the seller’s lien
in accordance with the above provisions. In addition, expenses incurred
by DAVID FELDMAN S.A. in the performance of its obligations hereunder
shall be levied in addition on all sums due from the buyer. In addition, the
defaulting debtor loses all rights of complaint.
3.9 Right of lien: Until full payment of the amounts due, the buyer grants
DAVID FELDMAN S.A., acting on behalf of the Seller, a right of lien on
all lots sold but not delivered. This lien guarantees the payment of any
amount due past and present, such as the hammer price, the purchase
commission, possible VAT, interest, and possible costs. After notice
from the buyer, DAVID FELDMAN S.A. is authorised, but not obliged, to
realise the pledges without further formalities and without notice if the
buyer is in default for the payment of his/her debt or the fulfilment of any
obligation. DAVID FELDMAN S.A. may in all cases realise the liens by
mutual agreement.
To this end, DAVID FELDMAN S.A. is not obliged to comply with the procedures
specified in the Federal Debt Collection and Bankruptcy Act; DAVID FELDMAN
S.A. is also free to initiate or continue ordinary debt collection proceedings
without first realising the liens and without thereby waiving them.
If the realisation of the lien does not cover the amounts owed by the Buyer,
DAVID FELDMAN S.A. is entitled to sue the Buyer for the difference.
3.10 Appraisal or counter-appraisal in the context of the sale of
philatelic items only: DAVID FELDMAN S.A. may attach an appraisal to
the description of philatelic items, the report of which forms an integral
part of the description of the lots, which may be obtained on request.
When the authenticity of a lot of philatelic objects is contested, the
buyer must produce a certificate of expertise or counter-expertise from
a qualified expert justifying his/her claim, within 30 days of the date of
the auction. If the recognised expert, who assumes all responsibility in
the event of error, deems that the item has been falsified, s/he may mark
it accordingly; the signs “FAKE” or “FORGED” do not then constitute an
alteration to the batch of philatelic items.
In the event of such a claim, DAVID FELDMAN S.A. reserves the right
to request, at its discretion, one or more subsequent expert appraisals,
the costs of which will be borne by the seller if the buyer’s claim is
well-founded. If the buyer’s claim is unfounded, the buyer will bear
all the costs incurred. If the claim is well-founded, the lot of philatelic
objects will be taken back, and the auction price and commission will be
reimbursed in full to the buyer. In the event of delayed payment due to
an appraisal approved by David Feldman S.A., interest is payable at 50%
of the usual rate for any lot of philatelic objects whose authenticity is
confirmed. If David Feldman S.A. does not agree, all interest will be due.
Buyers may request an extension for certification at the time of the
adjudication only. For lots with a hammer price of 5’000 or more in the
currency of the auction, DFSA will charge a flat handling fee of CHF 100
per item, plus the cost of the certificate. For all other lots DFSA will charge
a flat handling fee of CHF 200 per item, plus the cost of the certificate.
3.11 Limits of the guarantee: Batch items described as collections,
selections, or groups, those consisting of duplicates and accumulations,
cannot be the subject of any claim whatsoever. Claims concerning lots
of items described as sets or groups of sets containing more than one
stamp will only be considered within the limits of the above article if they
relate to more than one third of the total acquisition value of the lot. Lots
of items which have been examined by the purchaser or his/her agent,
as well as lots of philatelic items which are described as having defects,
may not be the subject of any claim in respect thereof. No claim may be
made in respect of perforation, centring, margins, or any other feature
visible in the illustration of any illustrated batch of items.
3.12 All lots awarded must be removed after the auction by the
purchasers within 5 days, at the purchasers’ cost and expense. No lot
may be picked up during the auction. Lots not picked up will be stored
at the buyers’ expense for a maximum of 6 months. After this period,
the lots will become the property of DAVID FELDMAN S.A., without
eliminating the buyers’ financial obligations hereunder.
Upon request, DAVID FELDMAN S.A. directly or through a third party, can
arrange transport or delivery against payment of this service in advance.
Under no circumstances will DAVID FELDMAN S.A. or the third party be
liable for any damage to or loss of the items during transport or delivery.
4 Applicable law and jurisdiction
The present auction and all legal relationships arising from it shall be
subject exclusively to Swiss law. Any legal action or proceedings relating
to the auction and the legal relationships arising therefrom shall be
subject to the exclusive jurisdiction of the courts of Geneva, subject
to appeal to the Swiss Federal Court in Lausanne. In any case, DAVID
FELDMAN S.A. reserves the right to sue any defaulting buyer at his/her
place of residence, in which case Swiss Law remains applicable.
5 Miscellaneous
These General Terms and Conditions of Sale apply to all purchases and
sales transactions with David Feldman SA with participating bidders,
even outside of auctions.
These Terms and Conditions of Sale have been drawn up in French and are
accompanied by an English translation. In the event of any discrepancy
between the English and French versions, the French text shall prevail.
Buyer’s Conditions of Sale EN – Last rev. Oct 2025
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