Terms and Conditions

Terms andConditions

Chapter I General Principles

1. Using Service

To use the service with AUCTION WORLDCO., LTD (hereinafter, referred to as AW), the user must agree with theTerms and Conditions. By using our service, the user is automaticallyconsidered to agree with the Terms and Conditions. Members will be issued an"ID". The "ID" and the "password" registered bythe members are required to use our services.

2. Authenticity Guarantee

a) Grading of rare coins is subjectiveand may differ among independent grading services and numismatists, even thoughgrading has a material effect on the value of the coins. AW is not responsiblefor the grades assigned by independent grading services and makes no warrantyor representation regarding such grades. Bidder further acknowledges andagrees that grades assigned by AW and lot descriptions are based solely upon anexamination of the coins and are intended to note any perceived characteristics.

b) “Sold as is, No returns”refers not only to the authenticity but also to the LOT's condition or the factthat it contains multiple items. Even if it is not described, LOT whichincludes multiple items may contain cleaned, or tooled (repaired, brushed,etc.) items.

3. Warranties and changes in serviceofferings

Ifany problems occur with the services provided by AW due to communication linemalfunctions or computer program malfunctions, AW cannot be held responsibleand compensate for any damages caused by such problems. AW reserves the rightto change the contents or specifications of the service or to suspend ordiscontinue its provision without prior notice to members.

4. Our auctions

There are two main types of auctionsheld by AW. One is the "Floor & e-Live Auction, which you canparticipate in by e-mail, fax, etc., in addition to being present on the floor,online, or by phone on the day of the auction. The other is the "Monthlye-Auction," which you can participate in online only. Together, these twoauctions are referred to as our auctions. Our auctions are conducted under therules of "The International Association of Professional Numismatists(IAPN)".

Chapter II Bidding

1.    Bidding Methods and Restrictions

a) Internet bidding

Available after membership registration.Please register on our website or the APP provided by our company.

b) E-Mail bidding

Please send an e-mail to info@auction-world.co with the required information (lotnumber, bid amount, etc.) at least one day before the auction starts. Uponreceipt, we will send you a confirmation e-mail. This will be considered as thecompletion of bidding.

c)    Fax bidding

Please send the "BiddingApplication" to 03-5425-6189 at least one day before the auction starts.Bidding will be completed when we send a "confirmation" to themember.

d)    Phone bidding

Only on the day of the floor auction, bidderscan participate in the auction by telephone.

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

An auction team member will call youone or two days before the auction to confirm if the telephone number works.Also, AW can tell you the current price in Japanese yen. 

e) Please note that the final deadlinefor accepting pre-bids by e-mail or fax is noon on the day before the first dayof the auction.

f) To avoidconfusion when bidding on the same lot (lot number), including on the day ofthe auction, "one method per member" and bidding by different methodsare not allowed.

g) If bidsare received at the same price, "first come, first served" prioritywill be given. Please understand that.

h) Theincremental amount of the bid amount shall be by the criteria in the BidIncrement below. Any fraction of a bid that does not meet these standards willbe "rounded down," so please be careful when bidding.

※AW may callyou to confirm your "name," "address," "bidamount," and other information related to your bid.

2.Even if the bid has been submitted in advance by e-mail or fax if there is anydoubt about the contents of your bid, your bid may be invalidated at thediscretion of AW.

3.Once AW has submitted and confirmed a bid, we will not accept any request forreduction or cancellation of the bid price.

4. Bid Increment

a) Pleasesee the table below for incremental ranges.

(I) Online& Email Silent Sale (including pre-bidding via email and fax & MonthlyAuction)

(II) Floor& Live Online Main Sale

b) Cut Bid

On the Floor & Live Online MainSale, one cut bid is allowed per lot. Off-increment absentee bids will berounded down to the nearest increment. It will not be possible, for example, tosnipe a lot with a 30,500 JPY if a bid of 30,000 JPY has been placed by a priorbidder.

c) Monthly e-Auction has the same bidincrement with a-I.

5. Bidding Privileges

a) The bidder will need to registerwith AW first. AW requires that you provide certain information, includingname, email address, username, and password (collectively, your “Account Information”). If you provide any information thatis untrue, inaccurate, not current, or incomplete, or if you impersonatesomeone else, or we have reasonable grounds to suspect so, AW may terminateyour account and refuse any current or future use of the Site and Applicationby you.

b) Members who feel that the basic bidcredit is insufficient to participate in the auction should contact AW by noon the day before the firstday of the auction. After the prescribed procedures have been completed, the bidding credit may be increasedonly if AW approves the increase. AW cannot accept any increase in bid crediton the day of the auction.

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

※The minimum deposit is not less than100,000 yen.

※The bid credit the bidder can get is thedeposit paid multiplied by 50.

d) The deposit will be credited towardlots purchased and any balance will be refunded within 7 working days after theauction. However, please note that the handling fee incurred in thisprocess will be borne by the bidder.

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

6. Confirmation for bidding

Please make sure not to set the wrongprice for the bid. A bid cannot be canceled without proper reason.

7. How Invoice is calculated

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

Example:

   Hammerprice          …  10,000 Yen

  Buyer’spremium           …  1,100 Yen

      Sub-total       … 11,100 Yen

b)An invoice will be sent viaemail within three days of the auction, and the hammer price + buyer's premium+ shipping and insurance fee will be the total amount the successful bidderneeds to pay.

8. Payment and others

a) Please settle the amount shownon the invoice in Japanese yen. In principle, successful bidders may notcancel, return, or refuse payment for any reason.

b) AW will send you an emailafter we receive your payment. Payments are due in 2 weeks for the liveauction, 1 week for the monthly auction, and the cooperative company’s auctionafter the end of the auction.

※ AW cannot accept credit cardpayments. Accepted payments are cash, wise, bank wire, and PayPal, they willalso be shown on the invoice to you.

c) If the settlement is not completedafter the above-specified number of days, AW will re-bill you for the totalamount billed plus the current interest rate.

d)If AW deems that a bidderhas defaulted on payment, AW shall take the following actions.

(I) If the buyer fails to make paymentin full by the deadline date or refuses to pay without a valid reason, he/she willbe disqualified from participating in future auctions and will be required topay a deposit when participating in our auctions again. AW reserves the right,in its sole discretion to rescind the sale of that lot or any other lot or lotssold to the defaulting buyer, retaining all payments made by the successfulbidder as liquidated damages. 

(II) In the event of cancellation, thesuccessful bidder shall pay a penalty of 14.6% of the winning bid amount as areservation for damages to cover damages and expenses incurred by AW inconnection with the re-auction.

(III) The deposit separatelydetermined by AW shall be used to cover the penalty in the preceding paragraph.

(IV) In the event of termination, AWreserves the right to suspend the relevant membership.

e) AW’s accounts are as follows.

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

・ACCOUNTNAME: AUCTION WORLD
・ACCOUNT NUMBER: 7665507
・BANK NAME: SUMITOMO MITSUI BANKING CORPORATION
・BANK CODE: 0009679
・BRANCH NAME: HAMAMATSUCHO BRANCH

・ACCOUNTTYPE : 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

Cryptocurrency Reception

From now on, our company accepts payments in Cryptocurrency, mainly including Bitcoin (BTC), Ether (ETH) and other tokens.

Customers are required to send an email notificationto confirm the payment of Cryptocurrency. After receiving the Cryptocurrency, wewill convert them into Japanese yen within three working days, and theconverted yen will be used as the final payment amount.

 (If you have some questions, please contect with us for Email)

bitcoin address:

1BrXahjY2xEm6dwwmAEsfBZ4WXYJuSwX5S

ETH and other tokens address:

0x2f2fC8e4f6d8337b7D0d8Bc731603108e042282a

※   Wise Account: info@auction-world.co (There is no additional fee for wisepayment)

※ PayPal Account: info@auction-world.co (PayPal fee is 4.4%)

f) Members who wish to pick up theirpurchased item(s) in person at AW’s office and settle their accounts arerequested to contact our staff in advance after the auction.

g) For purchased items for which 30days have passed since the end of the auction, we can keep them only if theyhave been paid for, but in that case, a separate "storage fee" willbe charged. For security reasons and others, we transfer all these bids to apaid storage facility. We will charge 10,000 yen per month for storage of 1 kgper month as a unit. 10,000 yen will be added for each additional unit.

9. About Shipping

a) If no prior request is made, wewill ship the purchased item(s) to the registered address within 7 businessdays (excluding Sunday and Monday) from the date of confirmation of payment ofthe winning bid.

b) If the desired delivery address isdifferent from the address on your membership registration, please change it byyourself on our website at least 3 days before the auction or contact ourshipping department. Please note that purchased items will be shipped to yourregistered address once payment has been confirmed without your notification.

c) The minimum shipping fee for coinsand banknotes within Japan is 1,000 yen per shipment (2,000 yen for Okinawa andremote islands). However, we may charge an additional shipping fee depending onthe shape, weight, or other characteristics of the item. Overseasshipping" varies depending on the destination region, country, tax laws,and other conditions, so our representative will contact you directly after theauction to discuss the details when the INVOICE is prepared.

d)  For customers whoseshipping address is abroad, please referto https://en.auction-world.co/news/post.jsp for shipping fee details.

e) Buyerscan also pick up the items at our company by yourself or by your agent, whichwill not incur shipping costs. Please contact us in advance.Please also note that if your agent comes to pick up theitem, he/she will need to provide proof of identity.

10. Returns

All items exhibited in our auction areidentified by our specialists or third companies. If an item is notspecifically marked with the words “copy”, “contemporary counterfeit”,” Sold as is No returns” etc., we guarantee that it isgenuine. In case you find out that the item is fake, please contact us as soonas possible.

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

a) The condition of the item has beensignificantly changed.

b) The buyer previewed the item beforebidding.

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

d) Defects in the slab case andaccessories, regardless of whether or not they are marked in advance, are notconsidered grounds for return (if you wish to have the slab holder reappraise,regardless of the reason, you will be charged a fee).

e) The reason lacks legitimacy.

f) The reason is not justifiable froma socially accepted viewpoint.

g) The itemhas been restored or worked on.

h) Misbid.

11. AW’s Authority in the Auction

a) If anyproblems arise in bidding at AW’s auctions, AW has the authority to"handle, change, or decide" on the problems that have arisen.

b) AW reservesthe right to invalidate bids even in the case of problems originating from ourcompany (e.g., cancellation of an auction, misdescription of a catalog, etc.).

12. Other Confirmation Items

a) Thedescriptions of each item in our auction catalogs, pamphlets, advertisements,websites, etc., are provided for the reference of auction participants, and thedescriptions (including author, title, history, condition, technique, material,color tone, flaws, restoration comments, etc.) are only our opinion. And we donot guarantee the basis for determining the market price of the listed items bytheir descriptions and expressions.

b)Photographs of the Listed Items do not necessarily accurately represent theircolors, tones, materials, etc., nor are they printed in such a way that thedefects of the Listed Items can be visually identified. Therefore, the Companyassumes no legal obligation or responsibility for the contents of catalogs,pamphlets, web pages, etc.

c) Memberswho wish to bid on an item are encouraged to attend a pre-auction viewing tocheck the condition of the item with their own eyes. Please participate in ourauctions based on your judgment and responsibility.

d) AW’sauctions are open for previews for a limited period in advance. Please make anappointment before coming. As a rule, we accept previews two weeks before thestart of all auctions. For Floor & e-live auctions and monthly e-auctions,reservations can be made by email or telephone.

Chapter III Consignment

Since we havenot been able to resolve the issue of consumption tax in Japan for overseasconsignments. As of May 12, 2021, we are temporarily not accepting consignmentsfrom overseas. We will notify you again on the system homepage when we canreceive consignments normally in the future.

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

※The consignments must becustoms-cleared items for entry and exit.

1.     Overseas consignment

AW accepts consignmentsin Japan Only.

AW can onlyaccept overseas consignments when the consigners follow Japanese law (includingJapan Customs’ law ) and pay for allthe fees when consigners deliver the consignment (including the delivery fee toour company and the consumption fee at the customs which is 10% of declaredvalue and delivery fee).

The commissionis 5.5% for the slabbed coins and 11% for the bare coins.

From January2023, the minimum commission for all auctions becomes 990 yen per lot.

a)    Consignorswho consign the items to AW for the first time have to provide identificationdocuments.

b)    Pleasefill in the necessary contents on the application form and send it to AWtogether with the items.

c)    Pleasebe sure to keep a copy of the application form when consigning your items.

d)    Whensending consignments to AW, AW recommends that you insure for the package. AWwill not be responsible for any problems that occur in transit.

e)    Ifthe records in the application form are incomplete, and AW cannot judge thecontents of the items and cannot confirm with the consignor, the items will notbe arranged in the auction.

f)     Consignorsare also welcome to bring your items and application form directly to AW.Please make an appointment in advance.

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

h)    Theitems will be auctioned after the assessment process. The item that isdetermined as unqualified will be excluded from the auction will send back tothe consignor. The shipping cost will be borne by the consignor.

 i)  In the event that a consignor wishes towithdraw an item from the catalog once it has been confirmed and AW has beguncatalog production (one month prior to the start of the pre-auction period),the consignor shall pay 5.5% of the starting price determined by AW as ahandling fee (the minimum is 990 yen).

2.     Reserve Price

Lots may carry areserve. A reserve is a price or bid below which the auctioneer will not sellan item or will repurchase on behalf of the consignor. Reserves areconfidential and not disclosed. 

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

b) If you setreserve price, 5.5% of the hammer price will be occurred for the unsuccessfulbid fee. The least fee amount is 990yen. 

c) We may startthe sale from lower than the reserve price, however, even if the item has endedwithout reaching the reserve price, we will receive the unsuccessful bid fee.

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

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

f) Thereserve price must be at least 1,000yen.

g) In the eventthat an consignor submits multiple lots, AW shall, in principle, has theauthority to combine lots. Regardless of the format desired by the consignor, AWhas the authority to determine the final form of the lot (lot combination orlot breakdown).

h) If an item isdetermined to be ineligible for sale for any reason during the examinationprocess, the item will be returned to the consignor. Please note that theshipping costs for returning items to the consignor in such cases will be borneby the consignor.

3.     Liquidation

The payment tothe consignor will be made after receiving payment from the successful bidderand passing the return period. In principle, it will be after 30 days from theauction. AW will send the consignor the payment after deducting the commissionfee and related expenses in the desired manner by the consignor. The expenseswill be borne by the consignor. In principle, the transfer fee forJapanese accounts is 500 yen. For foreign accounts, the transfer fee startsfrom 6,000 yen.

※Consignor’s Responsibilityfor Auctioned Items

a) The consignorshall confirm that they have the legal right to dispose of their property attheir own risk and that the source of their property is legitimate.

b) The consignorshall be responsible for all legal and financial compensation arising fromhis/her property by the auction rules of AW’s auction and the relevant laws ofJapan.

c) Even afterpayment has been completed, if AW determines that the relevant Property is aforgery or has been questioned, AW shall have the right to demand the return ofthe payment amount from the consignor.

Chapter IVProvision of Our Systems to Third Parties

a) AW providesservices such as online shopping malls and online bidding systems to thirdparties through predetermined contracts. These services are operated under theresponsibility of the third party.

b) Unlessotherwise specified, services and operational rules provided by third partiesare operated in accordance with the rules established by the relevant thirdparty. These are not subject to AW's rules.

c) Users of theservices described in 1. above shall have their various inquiries, includingadministrative procedures, handled directly by the operator of such services.

ChapterV Others

1.Restrictions on use of services by members

a) Our servicesare available only to members who have registered as members of AW and obtainedan ID.

b) Members must beat least 20 years of age to register as a member. In addition, you may be askedto provide proof of identification (driver's license, passport, other proof ofidentity etc.) when bidding and winning bids.

c) Registration isnot permitted for members (including those who were members in the past) ofantisocial groups, their family members, or related persons, or those whoengage in activities that the Company deems to be disruptive to third parties.If any of these are found to be the case, the membership will be terminatedeven if the registration has already been completed.

2. MembershipRegistration (Obtaining an ID)

When registeringas a member, it is assumed that the information registered is true and correctand that the information registered is up-to-date. In the event of anysubsequent changes (address, telephone number, etc.), members are obligated tocorrect the information themselves on time. Personal information received fromcustomers will not be used for any purpose other than the business of theCompany and its partners.

3. Memberresponsibility for member's ID and password

If a member's IDand password match the registered information and the member logs into AW'ssite, the member's login will be regarded to be the member’s own behavior. Andthe member shall be liable for all charges for using the site and purchasing itemsusing the ID (including all expenses incurred when using AW's services, as wellas any liabilities in the event AW is entrusted by a third party to collectsuch expenses), etc. If AW incurs any charges for the use of the site or thepurchase of products using the ID (including all expenses incurred when using AW'sservices, as well as any debts if AW is entrusted by a third party to collectthem), AW shall bill the Member with the ID.

4. Contentsto be observed by members when using the company's services

All of thefollowing acts (including acts that may induce such acts and preparatory acts)are prohibited when using the Company's services.

a) Posting,posting, disclosing, providing, or including in communications anything thatviolates social norms, public order and morals, infringes on the rights ofothers, or causes annoyance or discomfort to others.

b) Interferingwith or destroying the functions of software or hardware owned by other members.

c) Acts thatdestroy or interfere with the functions of servers or networks managed or ownedby the Company.

d) Interfere withadvertisements or services that AW transmits or provides through AW's and itspartners' websites.

e) Actions to"collect and disseminate without permission" other members' personalinformation, history information, etc., and information that can identify othermembers to that member.

f) Acts of usingthe services provided by AW for "a purpose different from the originalpurpose of provision" in light of the purpose of such services.

g) Using anothermember's ID without that member's permission to use AW's services (spoofing).

h) Obtaining theID or password of a member of AW from another person or disclosing the member'sID or password to another person, regardless of the means used.

i) Acts thatdirectly or indirectly provide benefits to antisocial forces or their relatedparties about the services provided by AW.

If AW believesthat you use our service or data beyond the purpose of providing, we have aright to forbid it and to claim the equivalent you obtained for it.

5. Prohibitionof reuse of services provided by AW

 If a member uses the services provided by AWor the data and information that comprise those services for purposes otherthan those for which the services were provided, AW reserves the right to stopthose actions and to suspend the membership of the relevant member withoutnotice. In addition, AW reserves the right to claim against the member anamount of money equivalent to the unjust profits the member is said to havegained as a result of such actions, as well as an amount of money equivalent tothe damages incurred by the Company as a result of such actions.

6. Obligationto compensate members

If AW incurs expenses(including legal fees and court costs paid by AW) or incurs compensation as aresult of claims or problems caused by a member's actions, the member whocaused the problem shall be obligated to bear the costs.

7. Handling ofmember's registered data and contents

a) AW assumes noresponsibility for the retention of member registration information and datastored on AW's servers. Each member is requested to save necessary information.

b) If there is aneed for maintenance or improvement of software (including software for mobilecommunication devices) related to the services provided by AW, the data storedon the servers managed by AW may be reproduced or processed without priornotice to members to the extent necessary for the maintenance or improvement ofsuch services.

c) The copyrightof any content posted by a member using a service that can be accessed by anunspecified number of members, such as an electronic bulletin board provided byAW, belongs to the member or the owner of such content.

d) The membergrants AW the right to use (including sublicensing) the content without chargeand on a non-exclusive basis (including reproduction, screening, communication,display, distribution, transfer, lending, translation, publication, etc.) inJapan and abroad without any time limit. In addition, said member shall notexercise his/her ownership rights as the copyright holder.

8.Advertisements

We may placeadvertisements on the services and software that we provide, either by us andour partners or by third parties who have requested us to place theiradvertisements.

9. Deletion ofPostings, Suspension of Service Use, and Deletion of Member ID

For the purpose ofproper operation of the services provided, in addition to the aboverequirements for suspension or deletion of membership, AW may take similarmeasures without prior notice to members in the following cases. This includesdeletion of data and content and suspension of eligibility for some or all ofthe services.

a) When a singlemember registers and owns multiple IDs.

b) If a memberviolates or is deemed by AW to have violated or threatened to violate any ofthe provisions of these Terms of Use.

c) If a member'spayment to AW is delayed without any notice despite the member's obligation topay. (Please refer to chapter II, 8-d)

d) If AWdetermines that a member files for bankruptcy or receives a notice relating tothe Civil Rehabilitation Law, or if the Company determines that a member islegally insecure, such as by filing such a petition on its own

e) If AWdetermines that a member's ID has been or may be used illegally by antisocialforces or their affiliates after registration

f) If a member hasnot used his/her ID or services provided by the Company for a certain period(period to be determined separately)

g) If AW deems itdifficult to maintain or continue the contractual relationship between AW and amember due to a loss of mutual trust between AW and the member, etc.

10. Changes tothe Terms of Use

AW reserves theright to change any or all parts of the Terms of Use at any time without noticeto members if it deems it necessary. However, if the change is deemed to have asignificant impact on multiple members, a notice period for the change will beprovided after a separate announcement in advance.

11. publicityand communication

If a member wishesto contact the company officially, the member should send an e-mail to theinquiry page on AW's website or the e-mail address specified by AW. Inprinciple, responses will only be made by e-mail.

12. Prohibitionof Assignment of Rights and Obligations

Members may notassign their contractual status, rights, and obligations arising from suchstatus, in whole or in part, to any third party without prior consent orconfirmation by AW.

13. GoverningLaw and Jurisdiction

The formation,validity, and interpretation of these Terms of Use shall be governed by thelaws of Japan. In the event of any dispute between AW and a member arising outof or in connection with AW's services (including posted content,advertisements, etc.), software, etc., the Tokyo District Court shall be thecourt of jurisdiction upon mutual agreement.

14. Limitationson the Application of the Terms of Use

If any provisionof the Terms of Use is deemed to be contrary to the relevant laws andregulations applicable to contracts with members based on the Terms of Use,such provision shall not apply to contracts with such members to the extentthat it is deemed applicable. However, even in such a case, the validity of theother provisions shall not be affected in any way.

15. Location ofthe Company and Contact Information

The address of AW’soffice and official contact information are as follows. You may also visit usat the following address.

AUCTION WORLD CO.,LTD.

2F 1-27-8Hamamatsucho Minato-ku，Tokyo，105-0013，JAPAN
Tel：+81-3-5425-6188  
Fax：+81-3-5425-6189
E-mail：info@auction-world.co

(Implement on1st June, 2015)

(Revised on 27thApril, 2016)

(Revised on 2ndDecember, 2016 )

(Revised on 25thSeptember, 2020)

(Revised on 29thJune, 2022)

(Revised on 25thMar, 2023)

(Revised on 13rdJan, 2024)

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

Supportedby

World CoinsJapan, Inc.

https://www.coins.co.jp

BeijingHuaxia Ancient Spring Arts Co.

https://www.huaxiaguquan.com

HuaxiaReview Class

https://www.huaxiapj.com

WataruTrading Co.

http://watarusyouji.co.jp