Terms and Conditions


1. Using Service

In order to use the service with AUCTION WORLD CO., LTD (hereinafter, referred to as AW)the user must agree with the Terms and Conditions. By using our service , the user is automatically considered to agree with the Terms and Conditions.

 

2. Authenticity Guarantee

Grading of rare coins is subjective and may differ among independent grading services and among numismatists, even though grading has a material effect on the value of the coins. AW is not responsible for the grades assigned by independent grading services, and makes no warranty or representation regarding such grades. Bidder further acknowledges and agrees that grades assigned by AW and lot descriptions are based solely upon an examination of the coins and are intended to note any perceived characteristics.

 

3. The Bidding Process

The Auctioneer shall have the right to open or accept the bidding on any lot by placing a bid on behalf of the consignor or their agent, a bidder by mail, telephone, internet or fax, or any other participant in the auction. Lots will be sold in their numbered sequence unless auctioneer directs otherwise. All material shall be sold in separate lots to the highest bidder as determined by the auctioneer. Auctioneer shall have the right in his or her sole and absolute discretion to accept or decline any bid, challenge any bid or bidding increment, to reduce any mail bid received, adjudicate all bidding disputes and to determine the prevailing bid. The Auctioneer shall have the right, but not the obligation, to rescind the acceptance of any bid and places the lot(s) for auction again. When identical bids are received for a lot, preference is given to the first bid received as determined by the Auctioneer. A mail bid will take precedence over an identical floor bid; a Floor Bidder and Telephone Bidder must bid higher than the highest mail bid or pre-sale internet bid to be awarded any lot.

Absentee bids may be placed by fax, mail, email, or by telephone. Online bidding is also available on https://en.auction-world.coYour bids will be treated as a maximum bid. The winning bid will be one increment above the next highest bidder, or at the starting bid. 

AW is not responsible for any errors in bidding. All bidders should make certain to bid on the correct lot and that the bid is the bid intended. Once the hammer has fallen and the auctioneer has announced the buyer, the buyer is unconditionally bound to pay for the lot, even if the buyer made a mistake. AW reserves the right to withdraw any lot at any time, even after the hammer has fallen, until the buyer has taken physical possession of the lot. No participant in the auction shall have a right to claim any damages, including consequential damages if a lot is withdrawn, even if the withdrawal occurs after the auction. 

 

4. How you can participate in the AW Auctions.

Personal Attendance

We would be happy to welcome you personally in our auction room at Tokyo Port city Takeshiba Office Tower 8F,1-7-1 Kaigan, Minato-ku, Tokyo 105-7508. Personal attendance and bidding at our auctions is always an exciting and pleasant experience, meeting collectors and dealers from throughout the world. 

 

Written Bids

By E-Mail: info@auction-world.co

Auction platforms: www.auction-world.co, www.sixbid.com,www.huayicang.com and www.numisbids.com 

 

Live Bidding

You can participate easily and comfortably in all AW auctions throughout the world with our online bidding system: http://en.auction-world.co/

 

Please register in time for our live bidding system. If you have already registered, please check your data and credit limits in order to ensure a smooth experience, during and after the auction.

 

You can count on our support at any time. Simply call us on +81-3-5425-6188 or send an email to info@auction-world.co.

 

Phone Bidding

Please email or call us at least two days in advance with the lot numbers that you would like to bid on and your phone number. Japanese Chinese and English are available.

 

A member of our auction team will call you one or two days prior to the auction to confirm if the telephone number works. Also, we can just tell you the current price in Japanese yen. 

 

5. Bid Increment

Online Auction (Before live auction starts & Monthly Auction)

       Price (Yen)

  From           to

    Bid Increment

1,000            9,999

      100

10,000          499,999

      500

500,000        999,999

      5,000

1,000,000      4,999,999

      10,000

5,000,000      9,999,999

      50,000

10,000,000    99,999,999

      100,000

 

 Live&Online Auction

       Price (Yen)

  From           to

    Bid Increment

 1,000            19,999

     1,000

20,000           99,999

      2,000

100,000         199,999

      10,000

200,000         999,999

      20,000

1,000,000      1,999,999

      100,000

2,000,000      9,999,999

      200,000

10,000,000    19,999,999

      500,000

20,000,000     99,999,999

      1,000,000

 

. Cut Bid

On the onlinelive auction, one cut bid is allowed per lot. Off-increment absentee bids will be rounded down to the nearest increment. It will not be possible, for example, to snipe a lot with a 30,500JPY if a bid of 30,000JPY has been placed by a prior bidder.

 

6. Bidding Privileges

The bidder will need to register with us first, we require that you provide certain information, including your name, email address, username and password (collectively, your “Account Information”). If you provide any information that is untrue, inaccurate, not current or incomplete, or if you impersonate someone else, or we have reasonable grounds to suspect so, we may terminate your account and refuse any and all current or future use of the Site and Application by you.

 

a) Depending on the situation, bidders may be asked to pay a deposit to obtain the bid credit. 

The minimum deposit is not less than 100,000 yen.

Bid credit=deposit*20. 

The deposit will be credited toward lots purchased and any balance will be refunded within 7 working days after the auction. 

 

b) If there is a problem (lot removed, miss description, etc.) on the item, your bid might be invalid. When problems occurred on the auction, we have all rights of decision for solving problems.

c) Please make sure not to set the wrong price for your bid. Your bid cannot be cancelled without proper reason. If you have to cancel your bid for compelling reasons, please contact us at least 1 day before the start of the auction.

 

7. Payment

A premium of eleven percent (11%) based upon the total amount of the hammer will be added to all purchases of individual lots, regardless of affiliation with any group or organization. 

Example:

                            Bid price            10,000Yen

Successful bid commission            1,000Yen

                                    Tax         … 100Yen

 AW will send you an email after we receive your payment. Payments are due 2weeks for live auction, 1week for monthly auction and partner auction after the end of the auction.

 We cannot accept credit card payments. Accepted payments are cash, wise, bank wire, paypal, they will also be shown on the invoice to you.

                                  Total         … 11,100Yen

Bank Account (Receive charge of 4,000yen will be charged for each order)

ACCOUNT NAME : AUCTION WORLD
ACCOUNT NUMBER : 7665507
BANK NAME : SUMITOMO MITSUI BANKINGCORPORATION
BANK CODE : 0009
BRANCH NAME : HAMAMATSUCHO BRANCH

BRANCH CODE: 679
ACCOUNT TYPE : FUTSUU- GENERAL; ORDINARY; USUAL(普通)
SWIFT CODE : SMBCJPJT
BANK ADDRESS : 2-4-1 HAMAMATSUCHO MINATO-KU TOKYO JAPAN
BANK PHONE : 03-3436-2781
AUCTION WORLD ADDRESS : 1-26-33 MITA TAMA-KU, KAWASAKI, KANAGAWA, JAPAN

Wise Account: info@auction-world.co (There is no additional pee for wise payment)

Paypal Account: info@auction-world.co (paypal fee is 4.4%)

a) Auction payment deadline: 14 days after the live auction. 7 days after the monthly auction and cooperative company auctions.

b) If the buyer fails to make payment in full by the deadline date, or refuses to pay without a valid reason, will be disqualified from participating in the future auctions and will be required to pay a deposit when wants to participate in our auctions again. AW reserves the right, in its sole discretion to rescind the sale of that lot or any other lot or lots sold to the defaulting buyer, retaining all payments made by Buyer as liquidated damages 

c) If the items have not been sent within 30 days from the sale, the buyer will be charged storage fee.

 

8. Shipping and insurance

It is the buyer’s responsibility to contact AW after the auction to make shipping and packaging arrangements. Due to the fragile nature of some lots, AW may elect not to assume responsibility for shipping or packing, or may charge additional shipping and handling. All postage, shipping, handling, insurance costs, the buyer's premium, and any other fees required by law to be charged or collected will be added to the invoice for any lots invoiced to buyer. Any and all claims based upon buyer's failure to receive a purchased lot, buyer's receipt of a lot in damaged condition, or otherwise related to delivery, must be received in writing by AW no later than thirty (30) days after payment. The failure to make a timely claim, time being of the essence, shall constitute a waiver of any such claim.

Delivery outside Japan will be by UPS, Registered mail, EMS or by Fedex and will include insurance on all shipments up to $50,000. Buyers will be billed additional insurance charges on a shipment or combined shipments valued at above $50,000. Any claims of loss or damage will only be paid by AW only after the insurers’ investigation is complete. If the buyer opts for another form of shipment other than the above, items will be shipped at their risk and they will assume all risk due to theft, damage or loss. A buyer opt out of the AW standard shipping listed above must be in received in writing before shipment will be made.

a) If we do not receive buyer’s contact regarding a change of address, purchase items will be shipped to the registered address. 

b) For domestic delivery postage in Japan, 1,000Yen(Okinawa & Remote island 2,000Yen) will be charged additionally as per parcel.

c) For customers whose shipping address is abroad, Please refer to https://en.auction-world.co/news/post.jsp for shipping fee details.

Due to COVID-19 pandemic and the recent unsettled international situation, shipping methods to specific countries and regions are highly restricted. We will choose the most suitable method from UPS, EMS and registered mail to send your package to you.

 

d) Buyer can also pick up the items at the company by yourself or by your agent, which will not incur shipping costs. Please contact us in advance.

 

9. Returns

All items exhibited on our auction are identified by our specialists or third companies. If an item is not specifically marked with the words “copy”, “contemporary counterfeit”,” Sold as is No returns” etc., we guarantee that it is genuine. In case you find out that the item is fake, please contact us as soon as possible.

 

Returns are valid within 14 days after the live auction, within 7 days after the monthly auction, and must be in their original holders, unaltered, and with no writing anywhere on the item. However, returns will not be accepted in the following cases.

a) The condition of the item has been significantly changed.

b) The buyer previewed the item before bid.

c) There is a description of non-returnable or special notes.

d) Payment has not been made within 14 days from the sale.

e) Mis bid.

f) The slab case (PCGS, NGC, etc.) of the item has been broken.

g) Returns without specific reason.

h) The reason lacks legitimacy.

 

10. Disclaimer and Warranties.

a)  The description about the lots in the catalogues, advertisements, flyers and web pages of the auctions are for reference only. The relevant pictures and descriptions (author, age, size, weight, material, tone, technique, origin, condition, title, injuries, restoration, etc.) are AW's elaboration of the lots and are not to be used as a basis for influencing the market price of the lots.

b) The pictures of the lots also do not always fully and accurately convey the tone, color, and material of the lots. Some lots have defects that cannot be detected by visual inspection. Therefore, AW is not legally responsible for the contents of the catalogue and other brochures.

 c) Bidders shall have no recourse against the consignor for any reason whatsoever.

d) Bidder acknowledges that the coin market is speculative, unregulated and volatile, and that coin prices may rise or fall over time. AW does not guarantee that any customer will be able to sell for a profit in the future.

e) Bidder acknowledges and agrees that neither AW nor its employees, affiliates, agents, third-party providers or consignors warrant that auctions will be unimpaired, uninterrupted or error free and accordingly shall not be held liable for such events.

 

11. Consignment

Since we have not been able to resolve the issue of consumption tax in Japan for overseas consignments. As of May 12,2021, we are temporarily not accepting consignments from overseas. We will notify again here and on the system homepage when we can receive consignments normally in the future.

 

At that time, we will accept consignments according to the following rules.

 

Overseas consignment

Basically, we accept consignment in Japan Only.

We can only accept overseas consignment when the consigners follow Japanese law (including Japan customs’ law ) and pay for all the fee when consigners deliver the consignment (including delivery fee to our company and the consumption fee at the customs which is 10% of declared value and delivery fee).

The commission is 5.5% for the slabbed coins and 11% for the bare coins.

From January 2023, the minimum handling fee will be 1,100 yen per lot for live auctions and 550 yen per lot for monthly auctions.

 

a)    Consignors who consign the items to AW for the first time have to provide identification documents.

b)    Please fill in the necessary contents on the application form and send it to AW together with the items.

c)    Please be sure to keep a copy of the application form when consign your items.

d)    When sending your items to AW, we recommend that you insure for the package. AW will not be responsible for any problems that occur in transit.

e)    If the records in the application form are incomplete, and AW cannot judge the contents of the items and cannot confirm with the consignor, the items will not be arranged in the auction.

f)     You are also welcome to bring your items and application form directly to AW.

g)    AW will issue a temporary storage document to the non-internet user consignor for the items received. Network customers can confirm this at My page.

h)    The items will be auctioned after the assessment process. The item that is determined as unqualified will be excluded from the auction will send back to the consignor. The shipping cost will be borne by the consignor.

 

Reserve Price

Lots may carry a reserve. A reserve is a price or bid below which the auctioneer will not sell an item or will repurchase on behalf of the consignor. Reserves may be confidential and not disclosed. 

a)    If the consignor wants to set reserve price on an item, please include a list with the reserve price in the items shipped to us.

b)    If you set reserve price, 5.5% of the hammer price will be occurred for the unsuccessful bid fee. The least fee amount is 550 yen. 

c)    We may start the sale from lower than the reserve price, however, even if the item has ended without reaching the reserve price, we will receive the unsuccessful bid fee.

d)    If you fill the price field with description like “Start from” or “Asking Price”, it will considered as reserve price.

e)    The unsuccessful-bid fee will not be charged without setting reserve price.

f)     The reserve price must be at least 1,000yen. If you are willing to sell items collectively, we will group them in specific lot at our decision.

 

Liquidation

The payment to the consignor will be made after receiving payment from the successful bidder and passing the return period. In principle, it will be after 30 days from the auction. We will send you the payment after deducting the commission fee and related expenses in the desired manner by the consignor. The expenses will be borne by the consignor. In principle, the transfer fee for Japanese accounts is 500 yen. For foreign accounts, the transfer fee is 6,000 yen.

 

12. Online shopping mall and affiliated companies bidding services

a) AW provides online shopping mall and online bidding system to affiliated companies. We may share the personal information of consumers within our affiliated companies in order to provide consumers with offers for products or services from our affiliated companies.

b) The service rules provided by the affiliated companies shall be consistent with the rules of this auction service established by AW, except for the items specifically declared.

c) When bidders use the services of our affiliated companies, they should contact the affiliated companies directly for all pre-sales and post-sales inquiries.

 

13. Others

a)    Limitation of Service Usage

We may put limitations of service usage to who has been registered on www.auction-world.co, or who is over a certain age, or who meets certain requirements through a procedure such as identification and so on. In addition, we refuse members of anti-social group (including who was in the past), and who abuse our service, and who annoy other users. 

b)    Registration

If you register with Auction World, it is your responsibility to register true and correct information as well as to keep it up to date.

c)    Responsibility of ID and Password

Once your ID is logged in with the correct password, we will assume that it is being used by the customer him/herself, and we have the right to claim any fees and costs incurred on your account. Therefore, please ensure your account is not used by anyone else. 

d)    Compliance of Service

We will ban following acts, including preparing or inducing for those :

i. Illegal acts in Japan or your country.

ii. To post, send or publish that is against social norms or public order and morality, or that invades rights of other people.

iii. To post offensive programs which harm softwares or hardwares of others.

iv. To disturb or destroy our servers or network.

v. To disturb our service or advertisement which are provided on any media.

vi. To obtain or accumulate other users’ information without our permission.

vii. Incorrect acts against purposes of our services.

viii. To use accounts of other users.

ix. To obtain or publish ID or password of other users.

x. Regardless of whether directly or indirectly, to give benefits to anti social groups.

e)    Abusing the Service

If we believe that you use our service or data beyond the purpose of providing, we have a right to forbid it and to claim the equivalent you obtained for it.

f)     Compensation

If any fees or costs, or compensations is occurred with objections due to the user, It (including attorney’s fee) will be borne by the user.

g)     We will not be responsible to back up data or contents on the server. If maintenance or improvement of the system is necessary, we may copy data of users on the server to the extent necessary.

h)   Advertisement

We may place advertisement of Auction World or third party on any our contents.

i)     Contact

If you are going to contact us, you may use the specified query page or e-mail address. In principle we will answer queries only by e-mail.

j)     Prohibition of transfer rights and obligations

You cannot transfer your rights and obligations which are occurred with the contract under the Terms and Condition to other persons without the written permission.

k)   Governing Law and Jurisdiction

Establishment, effectiveness and interpretation of this Terms and Condition are governed by the laws of Japan. Also, in the case that dispute arises between the user and us, the Tokyo District Court will be the jurisdiction.

l)     Restriction of Term

If the description of these Terms and Conditions are against laws applied on the user by the contract, the relevant parts will not be applied to the user. However, the other terms and conditions remain valid.

 

(Implement on 1st June, 2015)

(Revised on 27th April, 2016)

(Revised on 2nd December, 2016 )

(Revised on 25th September, 2020)

(Revised on 29th June, 2022)

 

Note: The final interpretation of these terms and conditions is the property of AW. We may update this Terms and Conditions. When we do so, we will add the date of the last change. We encourage you to review this Terms and Conditions from time to time so you will know if it has been changed or updated.