FAQ - Frequently Asked Questions

We should receive your written order, either by letter, fax or e-mail, as soon as possible, at the very latest one day before the coin or antique auction.
Should you have any questions, please give us a call:
+49-(0)89/24 22 643-0.
We look forward to your call and will assist you if you have any questions about our auctions.

Our experts examine all the items before the auction to make sure they are genuine and do not have any defects. The descriptions of coins and antique objects in the catalogue have been written carefully and conscientiously by our experts. The genuineness of the items is guaranteed, unless otherwise stated in the catalogue or during the auction. Gorny & Mosch is a partner of the Art Loss Register: All identifiable items are compared with the register's database before the auction.
We are obliged to abide by strict rules as a member of the following associations: ANA (American Numismatic Association), AINP (Association Internationale des Numismates Professionels), PNG (Professionel Numismatist Guild) and the Bayerische Numismatische Gesellschaft e.V.
Gorny & Mosch has stood for reliability and professionalism for over 50 years.

If you wish to bid in one of our auctions for the first time, you will need to name at least one coin or art dealer whom you have already purchased an item from as a reference.

There are various ways for you to bid in our auctions:

Personally
You can attend the auction in person on our premises in Munich and enjoy the special atmosphere.

In writing
If you cannot attend the auction personally, you can notify us of your bids in writing by letter or fax.

By phone
If you wish to bid by phone, please give us at least two phone numbers that we can reach you at on the date of the auction. Our employees will phone you once as a test on the date of the auction and then a second time shortly before your lot number is called out. The auction timetable provides a good indication of when your lot number will be called out. We can talk to you on the phone in German, English, Italian, French or Russian - the choice is yours.

By internet
Online bidding works very easily on our AUEX platform. If you are bidding online for the first time, you need to register. The next time, all you need to do is register with your user name (e-mail address) and password. You also have the possibility to bid live on AUEX during the auction via your computer or mobile phone. You have the advantage that you can bid from everywhere and follow the auction live on screen.

The price called out is 80% of the estimated price stated in the catalogue. Bids below this price will not be accepted.

Send us your order (by post, fax or e-mail) at an early stage. If bids are entered for the same amount, the first bid received wins the item.

Should you have any questions, please do not hesitate to contact us: +49-(0)89/24 22 643-0.

Personal attendance at auctions is the best way to buy auction items. You are bound to find the special atmosphere in the auction room a true experience for you as a collector and Munich is definitely worth a visit. We would be very pleased to welcome you in Munich. Directions and a map are available here.
Feel free to give us a call if you should have any questions:
+49-89/24 22 643-0.

Just before the auction and in the breaks you can inspect the coins and art objects at your leisure and gain a personal impression of the goods.

The price stated in the catalogue is estimated by our experts. The price called out is 80% of the estimated price, which means that the minimum bid is 80% of the estimated price. Hammer prices are often much higher than the estimated prices.

We have to coordinate all the written bids before the auction: If bids are received at the same amount, the first bid received is accepted.

The following examples are possible in the bidding procedure:

Example 1:
Estimated price: 1,000 euros
If a written order has not been received, the auctioneer calls out the lot in the auction at 80% of the estimated price, i.e. at 800 euros. If only one bidder then makes a bid in the salesroom, the item goes to this bidder for 800 euros.

Example 2:
Estimated price: 1,000 euros
The auctioneer has received three written bids:
Bidder 1: Limit 2,900 euros
Bidder 2: Limit 1,800 euros
Bidder 3: Limit 800 euros
According to the auction rules, the auctioneer must reasonably outbid bidder 2 in the interests of bidder 1 (by around 5 to 10%). The price called out is thus 1,900 euros in the interests of bidder 1 (although the estimated price is 1,000 euros). If no higher bid is made in the salesroom, bidder 1 wins the bid for 1,900 euros. The maximum bid of 2,900 did not have to be placed.

Example 3:
Estimated price: 1,000 euros
The auctioneer has only received one written bid for 850 euros:
The lot is called out at 800 euros in the auction. If no bidder in the room offers a higher amount, the written bidder wins the bid for 800 euros.

Example 4:
Estimated price: 1,000 euros
The auctioneer has only received one written bid for 1,200 euros:
The auctioneer calls out the lot at 800 euros. If there is no other bidder, the written bidder wins the bid for 800 euros. If there is another bidder, the auctioneer places bids up to a maximum amount of 1,200 euros on behalf of his written bidder and does not knock down the item to the other bidder in the room until an amount of 1,300 euros is bid.

Example 5:
Estimated price: 1,000 euros
Three bids have been placed at 975 euros each: To prevent any misunderstandings, the auctioneer exceeds the bid received first slightly and accepts a bid of 1,000 euros.

The minimum increments are about 5% of the price called out or the last bid, i.e.:

By transfer
The simplest way is to transfer the money. Our bank details are as follows:

Postbank Bank
code 700 100 80
Account no. 1503 84-802
BIC (SWIFT): PBNKDEFF
IBAN: DE 28 7001 0080 01503 848 02

Commerzbank Munich Bank
code 700 400 41
Account no. 66 67 117 00
BIC (SWIFT): COBADEFF XXX
IBAN: DE 73 7004 0041 06667 117 00

HypoVereinsbank Munich Bank
code 700 202 70
Account no. 00 2860 120
BIC (SWIFT): HYVEDEMM XXX
IBAN: DE 36 7002 0270 0002 8601 20

By cheque
You can, of course, also pay by cheque. Bank charges for international transfers are 15 Euro, from an amount of 25.000 Euro 50 Euro.

Cash
Of course you can also pay your invoice in cash in accordance with the legal requirements.

In advance
First you will receive your bill. After receiving payment, we will send you the reserved coins and items without delay.

Purchasers attending the auction in person must pay the purchase price immediately. Written bidders pay 10 days after the invoice's receipt.

Even as a written bidder you won't have to wait for long until you receive your coins and items. We dispatch items immediately after the auction.
The dispatch costs depend on the value and weight of the coin or the item.
Gorny & Mosch attends to all the dispatch and export formalities for customers from abroad. Foreign customers are requested to observe foreign exchange and import regulations.

Higher dispatch costs are required to export coins and items.
All coins and items are insured during transport. Bulky and fragile goods will be sent by a forwarding agent for the consignee's account.

All lots are sold in the margin unless specified items are clearly declared to be subject to taxation in full (marked with +) or to temporary admission (marked with ●). These items are listed separately in the print catalogue. For items sold in the margin the V.A.T. is not detailed separatly on the invoice.
Since 1 January 2000, many gold coins minted after 1800 have been tax-free.
Please ask us: +49-(0)89/24 22 643-0

For Coins:
The hammer price is the calculatory basis for the buyer’s premium.
EU citizens: Buyers are subject to a 25% buyer’s premium for items sold in the margin. For items subject to taxation in full (marked with +) the premium is 20% plus applicable legal VAT on to the sum of hammer price, premium and additional costs. For items subject to temporary admission (marked with ●) the premium is 20% plus relevant importation VAT on the entire amount of hammer price and premium charged by a separate invoice. Additional costs plus 19% VAT will be invoiced separatly. Inner-European sales may be exempt from VAT by legal prescriptions.
Non EU citizens: Buyers from „third“ countries pay a 20% buyer’s premium. If the buyer exports the goods in person or by a third party, he will receive an invoice including applicable legal VAT. Upon presentation of legal proof of exportation, the VAT will be reimbursed. If GM exports the goods, the invoice will not include VAT. Any foreign importation fees or taxes are to the charge of the buyer.
Tax-free gold coins are charged by a 15% buyer’s premium.

For Items:
The hammer price is the calculatory basis for the buyer’s premium.
EU citizens: Buyers are subject to a 25% buyer’s premium for items sold in the margin. For items subject to taxation in full (marked with +) the premium is 20% plus applicable legal VAT on to the sum of hammer price, premium and additional costs. For items subject to temporary admission (marked with ●) the premium is 20% plus relevant importation VAT on the entire amount of hammer price and premium charged by a separate invoice. Additional costs plus 19% VAT will be invoiced separatly. Inner-European sales may be exempt from VAT by legal prescriptions.
Non EU citizens: Buyers from „third“ countries pay a 20% buyer’s premium. If the buyer exports the goods in person or by a third party, he will receive an invoice including applicable legal VAT. Upon presentation of legal proof of exportation, the VAT will be reimbursed. If GM exports the goods, the invoice will not include VAT. Any foreign importation fees or taxes are to the charge of the buyer.

You can naturally bid with us as a new customer. To do so, it is necessary that you name at least one coin or art dealer with whom you already have a business connection.
If you have any questions, give us a call:
+49-(0)89/24 22 643-0.
We look forward to hearing from you.

All the bidders receive a list of the results free of charge within two weeks after the auction. But you can also see the results straight after the auction on the internet.

You can buy any item that no bids were placed for during the auction within three weeks after the auction at 80% of the estimated price (plus buyer's premium, value-added tax and dispatch costs).

Lots in subject to temporary admission are marked with ● in our print and online catalog. The buyer´s premium on the hammer price is in coin auctions 20%, in item auctions 20%. Additionally, importation VAT and shipping fees will be dealt with as follows:

EU citizens:
After finalization of the custom procedure, which can only be concluded after the goods have been sold in auction, the relevant importation VAT on the entire amount of hammer price and buyer’s premium will be charged by a separate invoice. Additional costs (f.e. shipping costs) plus 19% VAT will be charged separately.

Non EU citizens:
As far as these buyers export the goods in person or by a third party the relevant VAT will be charged but refunded after receiving the legal proof of exportation. In case that we export the goods the relevant VAT will not be charged.