Conditions of sale
These conditions of sale govern the contractual relations between Baghera/wines Auction & Trading SA (“Baghera/wines”), the seller whose details are indicated in the Sales Commission document (“Seller”), any participant in the auction or traded or over-the-counter, as well as any bidder and the highest bidder, excluding contractual relations between Baghera/wines and the Seller. In case of conflict between these conditions of purchase and the terms and conditions of sale, the general terms and conditions of sale shall prevail. These purchase conditions can be modified at any time, in writing or orally during the sale. By participating in any capacity whatsoever in an auction or a private sale organized at Baghera/wines' discretion, you agree to be bound by these conditions. You should therefore read them carefully before doing so.
1. BUYER
The last bidder at the stroke of the gavel (the “Buyer”) wins the bid on the lot of items (the “lot”). In case of dispute between two or more bidders, the lot will immediately be relisted.
2. AUCTION PROCEDURE
The bailiff accepts bids from those present at the sale, phone bidders, online bidders as well as absentee bidders. The stroke of the gavel indicates the final bid awarding the lot to the Purchaser. The bailiff speaks out and records the name or number of the Buyer.
3. TRANSFER OF RISK AND PROPERTY
Once awarded to the Buyer, the risks and ownership of the lot(s) pass to the Buyer.
4. ABSENTEE BIDDING
Baghera/wines can place bids on customers’ instruction, if you are unable to attend the auction in person, Baghera/wines and its employees or agents cannot be held responsible for failure in the transmission of these instructions during the auction. In the case where two identical bidding instructions match the highest bidding, the lot will be awarded to the first bidder. Baghera/wines reserves the right in its sole discretion, to refuse bids from a buyer’s instructions in case the information and documents submitted as proof of identity, i.e. the identity of the beneficial owner, should prove to be false, incomplete, ambiguous or inadequate.
5. TERMS OF AUCTION
The bailiff has the right at its absolute discretion to refuse any bid, to advance the bidding as it may decide, to withdraw or divide any Lot, to combine any two or more Lots. Any bid must be at least 10% higher than the previous bid. The bailiff can, however, change this percentage during the auction. The Seller as well as any person instructed by the former cannot bid on their own lots.
6. ESTIMATE
The estimate of each lot is based on prices reached during previous auctions for similar lots. It is subject to change and does not constitute any guarantee or indication of the actual final sale price. The estimate does not include costs such as the Buyer’s premium and additional costs (refer to section 8. below).
7. RESERVE PRICE
The reserve price is the confidential minimum price at which the Seller agrees to sell the Lot. If the reserve price is not reached, Baghera/wines may reject the last bid and set a new starting price equal to or above the reserve price. In case no bid matches or is above the reserve price, Baghera/wines shall withdraw the lot without adjudging it to anyone. Baghera/wines, however, reserves the right to organise a private sell after the auction, in which case the price shall not be lower than the reserve price, subject to agreement by the Seller for a price below the reserve price.
8. BUYER’S PREMIUM AND ADDITIONAL COSTS
The buyer’s premium is 22% plus 7,7% Value added tax (VAT) on the hammer price and buyer’s premium. The total amount of the hammer price of each of lot purchased, plus the buyer’s premium, plus VAT is the final price to acquire the lot(s). Please note that other taxes may arise after collection of the goods. This tax (VAT) is refunded to any buyer domiciled outside Switzerland if, but only if, Baghera/wines receives from such buyer an export declaration in respect of a purchased lot which has been stamped by Swiss customs.All buyers should note that local sales taxes or use taxes may become payable upon import of items following purchase. Buyers should obtain their own advice in this regard.
9. EXCHANGE RATES
In some auctions, in order to ensure proper information for the Buyer, a currency converter is made available. The data displayed are provided for information only and Baghera/wines assumes no responsibility in this regard.
10. PRE-AUCTION VIEWING
Prospective buyers are encouraged to inspect the property at the pre-sale viewing, which can be attended at no charge by appointment only (please contact office@bagherawines.com). Bidders accept responsibility for carrying out inspections and investigations, during previewing, to satisfy themselves as to the lots in which they may be interested.
Baghera/wines may also provide condition reports. The absence of reference to the condition of a lot in the catalogue description does not imply that the lot is free from faults or imperfections.
11. NO WARRANTY
Baghera/wines only acts as agent to the Seller. The sale is passed directly between the Seller and the Buyer. Baghera/wines shall not be responsible for any defects in the lots nor do we guarantee the accuracy of the information concerning the producer, origin, date, age, authenticity, provenance, weight or condition of any Lot. None of Baghera/wines agents have authority to give any guarantees in this respect. All statements made in catalogues, advertisements or brochures concerning Baghera/wines sales only express opinions and are no guarantee from Baghera/wines or the Seller. All persons concerned are expected to inquire before the auction, about the description and condition and of the lots and of possible defects or possible damage or repairs which have been, or need to be, carried out.
12. BIDDERS REGISTRATION
Prospective buyers who would bid for the first time with Baghera/wines are asked to provide the following documents, at least 48 hours in advance, in order to give Baghera/wines enough time to process and approve the registration for the auction :
- Individuals: government-issued photo identification (such as a driving licence, national identity card, or passport) and, if not shown on the ID document, proof of current address, for example a utility bill/bank statement.
- Corporate clients: a recent copy (under 3 months old) of the company register.
- For other business structures such as trusts, offshore companies or partnerships, please contact Baghera/wines' Accounting Department (sales@bagherawines.com) for advice on the information you should supply.
- A financial reference in the form of a recent bank statement or a reference from your bank.
- Persons registering to bid on behalf of someone who has not previously bid or consigned with Baghera/wines should bring identification documents not only for themselves but also for the party on whose behalf they are bidding, together with a signed letter of authorisation from that party.
Please note, Baghera/wines is entitled to request a deposit in CHF in order to ensure the bidders' final registration. If the bidder is unsuccessful and does not owe Baghera/wines any debt, the deposit will be refunded (i.e. the received CHF amount) in full, 7 days after the sale.
Baghera/wines is entitled to change the deposit pre-registration procedures and requirements at their own discretion without prior notice.
13. BIDDER RESPONSIBILITY
Bidding at Auction
Bids may be executed in person by paddle during the auction, in writing prior to the sale by telephone or by live bidding.
Bidding in Person
To bid in person, you will need to register for and collect a numbered paddle before the auction begins. Proof of identity will be required. New clients are encouraged to register at least 48 hours in advance of a sale to allow sufficient time for us to process your information. All lots sold will be invoiced to the name and address to which the paddle has been registered and invoices cannot be transferred to other names and addresses. Please do not mislay your paddle; in the event of loss, inform the Sales Clerk immediately. At the end of the sale, please return your paddle to the registration desk.
Bidding by Telephone
If you cannot attend the auction, you may bid live on the telephone with one of our multilingual staff members. This service must be arranged at least 72 hours in advance of the sale, especially if you wish to bid in a language other than English. We also recommend that you leave an emergency bid which we can execute on your behalf just in case we are unable to reach you by telephone. Please note that telephone bids may be recorded (by bidding on the telephone, you consent to the recording of your conversation). We suggest that you leave a maximum bid, excluding the buyer’s premium and VAT, which we can execute on your behalf in the event we are unable to reach you by telephone.
Online Live Bidding — B•Live
If you cannot attend the auction in person, you may bid online on our online live bidding platform, available on our website at www.bagherawines.com. You must pre-register at least 36 hours before the start of the auction in order to be approved by our bid department. Please note that corporate firewalls may cause difficulties for online bidders. Baghera/wines' BLive platform is available on mobile devices as well as computers.
Absentee Bids
If you are unable to attend an auction in person, you may give Baghera/wines instructions to bid on your behalf. Our member of staff will then try to purchase the lot(s) of your choice for the lower price possible. Please note this service is free, totally confidential and offered as a convenience to clients who are unable to attend the sale. In the event of identical bids, the earliest received will take precedence. Although our representative will make every effort, Baghera/wines will not be responsible for error or failure to execute bids.
Bidding Increments
Bidding generally opens with the low estimate and advances in increments of up to 10% subject to the auctioneer’s discretion. The auctioneer retains the right to call bids at his own discretion – bids steps are shown on the Guide for Absentee Bidders (featured in the auction catalogue).
Currency and Currency Converter
The sale is conducted in Swiss francs. Any other amounts shown in this catalogue and on the currency converter are for guidance only and are not legally binding. Baghera/wines declines all responsibility for any mistakes on the currency converter.
When bidding, the person assumes personal accountability to pay the price and any other applicable taxes or charges, unless it has been explicitly agreed in writing with Baghera/wines, prior to the auction, that the bidder only acts as an agent on behalf and in the name of an third party, acknowledged and accepted by Baghera/wines, and that the said party shall be solely responsible for payment of the Price.
The fall of the auctioneer’s hammer indicates the final bid. The auctioneer will call out and record the name or “paddle” number of the buyer. If your written bid is successful, you will be notified the day following the sale by email. Please note, bidding may be re-opened at the auctioneer's discretion. The final bid is provisional until the end of the auction. The auctioneer is entitled to re-open the bidding at his discretion at any time before the end of the auction. At the end of the auction, the final bid becomes irrevocable.
14. SALE RESULTS
Results for the sale are available upon request. Baghera/wines cannot accept liability for any errors or omissions, howsoever caused. Sellers should await their settlement statement as confirmation of any sold proceeds.
15. PAYMENT OPTIONS AND DEADLINES
The price is payable in Swiss francs in the seven days following the sale. On the eighth day after the sale, interest at the rate of 1% per month will be added to the amount due.
Payment can also be made in foreign currencies with legal-tender status if that amount can be converted into Swiss francs at the value date of payment. To avoid any delay in releasing goods, prospective buyers should supply bank references before the auction.
Please include your name and invoice number with your instructions to the bank. Please note that we reserve the right to decline payments received from anyone other than the buyer of record and that clearance of such payments will be required. All fees regarding bank transfers are at the buyer’s charge.
Payment can be made in Swiss francs at the sale in cash, by credit card or charge card, or by bank transfer to :
Beneficiary :
- Baghera Wines Auction&Trading SA, Geneva
Crédit Suisse, AG, CH-1211 Genève 70
IBAN : CH54 0483 5157 5226 21000
Swift/BIC : CRESCHZZ80A
Please note that transactions should preferably be made by bank transfer. If you wish to pay in cash, please seek Baghera/wines' financial services for advice prior to making payment arrangements and contact our Accounting Department (sales@bagherawines.com) in order to comply with Swiss government regulations.
Baghera/wines will accept all major credit cards, American Express, Visa and MasterCard to pay for invoices. (A processing fee will apply). The successful bidder during the auction is solely responsible for payment to Baghera/wines. We will not accept payments for purchased lots from any party other than the buyer. Goods can only be collected when payment has been cleared.
16. NON-PAYMENT
In case of non payment by the Buyer within seven days of the sale, Baghera/wines shall try their best to carry out the Seller’s instructions as to the next steps and help them, when possible, to reach the price or if not, cancel the sale. All damages are expressly reserved.
Notwithstanding the above, Baghera/wines expressly reserves the right at its discretion and expense of the Seller to accept special conditions of payment of the price, to take adequate measures for storage and/or lot insurance, to start or pursue any legal proceedings instituted by or against the Buyer on the terms and conditions that Baghera/wines considers appropriate, to take all necessary measures to recover the amounts owed by Buyer and, if possible, to return the lot to the Seller.
In case of non-payment or partial payment, Baghera/wines is entitled to terminate the contract with immediate effect, provided that it has served a warning to the Buyer to pay the requested amount within 10 days. In case of termination of the contract, the Buyer accepts to pay an indemnity corresponding to 20% of lot to Baghera/wines. The Buyer understands and expressly accepts that any amount already paid by the Buyer will be retained by Baghera/wines up to the amount of the indemnity.
17. PARTIAL PAYMENT
Any partial payment by the Buyer to Baghera/wines will be considered payment through direct deposit. In case of failure of the Buyer to pay the entire price of this deposit will be automatically collected and lot will be relisted by public auction or at a private auction or sale by private treaty at the discretion of Baghera/wines.
18. COLLECTION, SHIPPING, IMPORTATION AND STORAGE
Please refer to the auction catalogue for detailed information regarding collection, shipping, importation and storage facilities. Please note that the Geneva FreePort is open from
Monday to Friday from 8am to 11:30 am, and from 1pm to 4:30pm. Please note, that collection notice should be given at least 48 h prior collection.
All the Lots are either stored at:
a. In bond at Geneva FreePort,
b. Duty-paid (under Swiss regime) at Geneva FreePort.
Please refer to the lot description in the auction catalogue for storage location and in bond/duty-paid status.
All lot(s) can be collected when Baghera/wines' full payment confirmation has been delivered to the buyer. Any property for which shipping arrangements or collection have not been made prior to this date will be assessed a monthly storage of CHF 50 / pallet / month (up to a maximum of 300 x 75cl) and insurance charge of 0,15% per month of the value.
For all buyers, a transit document will be needed to ship the wines. Destination VAT, excise duty, clearance charges are at the buyer’s charge and cannot be cancelled or refunded by Baghera/wines. For buyers inside Switzerland, excise duty and clearance charges will be charged. VAT is already included in Baghera/wines' invoice.
Be informed that express shipping companies may refuse to issue transit documents, we strongly recommend using a professional wine carrier.
Buyers are reminded that Baghera/wines accepts liability for loss or damage to uncollected lots up to six weeks after the auction date.
19. RIGHT OF RETENTION AND DELIVERY
In order to avoid any errors in the auction process, to ensure the payment of invoices and to proceed to – where necessary and in accordance with legal and regulatory requirements – the required checks on the Buyer as well as the identity of the beneficial owner, No lot may be removed during the sale.
Baghera/wines is authorized to retain the lots until all amounts due to Baghera/wines have been paid in full or until the Buyer has performed all other obligations that Baghera/wines, at his discretion, considers due, including anti money laundering and counter financing of terrorism compliance.
In case a buyer does not meet the aforementioned checks to the satisfaction of Baghera/wines, the company will be entitled to cancel the sale and take any other action required or permitted by law. Shipping service will take place after reception of payment.
20. NON-COLLECTION OR NON-DELIVERY
In case the Buyer, having fulfilled all his obligations under these conditions of purchase, does not withdraw or fails to take delivery of the Lot, Baghera/wines will be entitled to, upon notification to the Buyer, relist the lot by way of auction or private sale, in their sole discretion, and charge the Buyer the entire storage costs, insurance and all other costs that may occur. Baghera/wines will have a right of retention on the lots until payment of all of these costs.
21. FALSE INFORMATION
If the information or documents provided by the Buyer on his identity or the identity of the beneficial owner prove to be false, incomplete, ambiguous or insufficient, Baghera/wines may, in their sole discretion, cancel the sale and pursue the fraudster. The Buyer will be responsible for all costs incurred.
22. BAGHERA/WINES’ AUTHENTICITY GUARANTEE
If Baghera/wines sells any wine which the Buyer subsequently shows to Baghera/wines' reasonable satisfaction to be a “counterfeit”, subject to the terms below Baghera/wines will cancel the sale and refund to the Buyer the total amount paid by the Buyer (in the original currency).
Definition : “counterfeit” means a wine that in Baghera/wines' reasonable opinion is an imitation created to deceive as to producer and vintage, where the correct description of the producer and vintage is not reflected by the description in the catalogue.
The Guarantee is provided for a period of fourteen (14) days from the date of the auction, for the sole benefit of the original Buyer and may not be transferred to any third party.
In order to claim under this Guarantee, the Buyer must :
(i) notify within 14 days Baghera/wines in writing of the reasons for believing the wine to be counterfeit. The buyer must specify the lot number and date of the sale at which it was purchased ; and
(ii) return the lot to Baghera/wines in the same condition as at the date of sale to the Buyer and be able to transfer property title to the lot, free from any third party claims arising after the date of the sale.
Baghera/wines has discretion to renounce to any of the above elements. Baghera/wines may require the Buyer to obtain at the Buyer’s cost the reports of two recognised and independent experts in the field, reciprocally acceptable to Baghera/wines and the Buyer.
Baghera/wines shall not be bound by any reports produced by the Buyer, and reserves the right to seek additional expert advice at its own expense.
On the assumption that Baghera/wines decides to cancel the sale under this Guarantee, the reasonable costs of two mutually approved independent expert reports may be refunded to the Buyer.
23. LIABILITY
Any participant in the sale, in whatever capacity, namely as bidder, visitor or third party is responsible for any damage, particularly to the lots exposed.
24. DATA PROTECTION
As required by law, or in connection with the supply of auction and related services Baghera/wines may ask clients to provide personal data. Baghera/wines may take and retain a copy of government-issued identification such as a passport or driving license. We will use your personal data (i) to provide auction and related services; (ii) to enforce these Conditions of Sale; (iii) to carry out identity and credit checks; (iv) to implement and improve the management and operations of our business and (v) for other purposes set out in our Privacy Policy published on our website at bagherawines.com and available on request by emailing office@bagherawines.com.
Sometimes, Baghera/wines may also disclose this information to carefully selected third parties for their own marketing purposes. If you do not wish your details to be used for this purpose, please email office@bagherawines.com.
If the client provides Baghera/wines with information that is defined by European data protection laws as “sensitive”, the client agrees that it may be used for the purposes set out above.
In the course of these disclosures, personal data collected in the European Economic Area may be disclosed to countries outside the European Economic Area. Although such countries may not have legislation that protects a client’s personal information, Baghera/wines shall take reasonable steps to keep such information secure and in accordance with European data protection principles. By agreeing to these Conditions of Business, the client is agreeing to such disclosure.
Please read our Privacy Policy on www.bagherawines.com for full information about personal information and data protection.
Baghera/wines premises may be subject to video surveillance and recording. Telephone calls for telephone bidding purposes may also be recorded. We may process that information in accordance with our Privacy Policy.
25. MISCELLANEOUS
(a) Taxes. If any taxes or rates are applicable to any amount paid by the Buyer, the latter is solely responsible for their payment at the rate and on the date required by the competent administration.
(b) Severability provisions. If any provision of this agreement should be judged by a court to be invalid, illegal or unenforceable, this provision may be waived and the rest of the Agreement will continue to be valid and enforceable.
(c) Personal information. Without your express prior refusal, we will be allowed to keep your personal information and may use it to inform you of our upcoming sales, services and events.
(d) Prohibition of Assignment. The Buyer may not assign any benefit and/or obligation under this agreement with Baghera/wines and/or the Seller without our prior written permission.
(e) Applicable law and jurisdiction. All contractual relations between the Purchaser, the Seller and Baghera/wines are subject exclusively to Swiss domestic law, to the exclusion of the rules on the conflict of laws (LDIP). Any dispute in connection with the contractual relationship shall be settled exclusively by arbitration in accordance with the Swiss Rules of International Arbitration of the Swiss Chambers’ Arbitration Institution in force on the date on which the Notice of Arbitration was submitted in accordance with these Rules. The number of arbitrators shall be one. The seat of arbitration shall be Geneva. The arbitration will be conducted in French, subject to a written agreement for the use of another language.