This glossary is for information purposes only and does not give rise to any legal claim.

Abgeld
Is the premium paid by the consignor to the auction house upon sale. The Abgeld usually depends on the amount of the surcharge.


auction number
The auction number is the consecutive number that uniquely identifies the auctions of an auction house. Please note: each auction house has its own auction numbers.


Buyer's premium
The additional amount that the person who buys an item at an auction must pay and which represents the auctioneer’s profit (especially in auctions).
In contrast to other auction houses, Eppli includes the buyer’s premium in the starting price as well as in the hammer prove. The amount announced or bid in the auction represents the final price.


Starting price
The minimum bid price of an object which is called by the auctioneer in the auction room to start bidding. If the auction starts with a higher amount than the agreed starting price, there are usually higher written bids.


Auction
Is an event at which something is auctioned off.
Eppli’s auctions are public auctions. The item submitted are described and presented to the best of our knowledge and belief an auctioned in the auction room by the auctioneer to the highest bidder.


Auctioneer
The auctioneer conducts the auction and carries t put correctly and fiduciarily. He has to represent the interests of two parties – the seller and the buyer.


Auction results
Represent the results of an auction. The surcharges of all objects which came in an auction to call are listed.
The result of the Eppli auctions are published promptly after the auction and for a period of one week as a list on the Internet. The results must then be requested orally or by telephone.


Auction catalogue
A catalogue in which the items offered for the auction are listed and described and often also illustrated.
Eppli prints for each auction a list of the items as e-catalogue, which are auctioned. This list can be seen in the company’s website under the menu “auction - current auctions” with illustrations.


Payout
The payout of the consignor usually takes place four to six weeks after the successful auction. If cash payment has been agreed, the consignors will be informed when the money is ready for collection.


Bidding
Bidding at an auction, making an offer.
At Eppli you can bid in different ways: in person, by phone or in writing. Written bids can be sent by fax, post or e-mail and represent the highest bids of the respective customer.


Bidder number
Each bidder receives a bidder number for the current auction, making it clearly identifiable internally.
Personal bidders receive them at Eppli on the day of the auction and show them to the auctioneer if the bid has been successfully accepted.


Taxation of differences
The taxation of differences is important when trading in already used movable tangible property. It is intended to prevent the resale of the entire used item from being subject to VAT in full again. In difference taxation, only the difference between the purchase price and the sales price is subject to sales tax.


Result lists
Is the list in which the results of an auction are entered. See also Auction Results.
At Eppli the result lists are available here within one week after each auction.


Bid price
offered by the bidder at auctions.
Bids submitted are binding and can therefore not be withdrawn.


Insolvency
Insolvency means insolvency or over-indebtedness of a debtor. The law distinguishes between insolvency of companies, insolvency of self-employed and freelancers and private insolvency.


Insolvency auctions
Insolvency auctions are auctions held in the course of insolvencies. They offer the insolvency administrator the opportunity to use the proceeds to settle part of the existing debts.
In the name and for the account of an insolvency administrator, Eppli also auctions objects from insolvency assets, which may also include new goods.


Limit
The limit is the price agreed with the Consignor under which the object of art or value cannot be sold. If the limit is not reached, the auctioneer may, in exceptional cases, make a conditional knockdown.


Lot
A lot is a sales object in an auction. The lot number (lot) uniquely determines the object in question. The order of the objects called up in an auction usually follows the numerical order of the lot numbers.


lot-tissimo
Is an auction portal where numerous auction houses publish their complete auction catalogues.


Post-auction sale
Post-auction sales, items that have not been sold in an auction are offered for sale.
In the auction house Eppli you can buy the items from the post-auction sale on our Online Shop or directly in our showrooms/branches mostly at the call price.


Onlineshop
The online shop is a trading platform to sell goods and services on the Internet. With the help of a computer, customers can view, order and pay for the goods via the Internet.
In Eppli's online shop you can purchase items that have not been knocked down in previous auctions or that originate from special consignments such as stock overhangs.


Pawn
A credit that can be obtained by depositing a pledge.
The Eppli Auction House is entitled to grant pawn loans. The pawn credit belongs to the oldest banking transactions, is discreet and uncomplicated.


Pawn auction
It occasionally happens that a pledgee does not release the pledged objects. Then, after a reasonable period of time, these items will be auctioned off.


Room bidder
The room bidder is the bidder who is present in the auction room - in contrast to the telephone bidder or the written bidder.


Estimated price
Auction items have an estimated price that is based on the market value of comparable properties. The estimated price differs from the limit known only to the seller and the auction house.


Telephone bidder
The telephone bidder is a bidder who participates in an auction by telephone.
At the auction house Eppli this possibility is offered only with objects with a value of 200 euro and more. The telephone bidder is called shortly before the call of the lot in which he is interested and for which he wishes to bid is made by an employee of the auction house and is then represented in the auction room by this employee when bidding.
Prerequisite for this is a customer account. You have to register on our site.


Sub-bid
If an interested buyer submits a bid below the limit, the auctioneer may knock down the desired item subject to reservation.


Sub-bidder
in auctions is the sub bidder a bidder who is below the highest bid. Since the lower bidder has just as large a share in the amount of the knockdown as the buyer, the lower bidder is just as important to the auction house as the highest bidder himself.


Reservation
The reservation (reservation surcharge) is a binding surcharge for the buyer of a ticket (lot, number), which is subject to the consent of a third party. As a rule, these are surcharges below the limit price, which the consignor must first agree to.


Preview
The items put up for auction will be exhibited at the latest one week before the auction in the respective rooms of Eppli. Auction dates are announced on the company's homepage and in the daily press.


Hammer price
The auctioneer will knock down the bid if no higher bid is submitted after three calls of a bid. The surcharge is usually indicated by a hammer blow with the call "To the first, to the second, and - to the third! Upon acceptance of the bid, possession and risk of the item purchased by auction shall pass directly to the Purchaser, ownership shall not pass to the Purchaser until payment has been made in full.


Forced auction
Forced auction to satisfy creditors.
At Eppli there are forced auctions. They are carried out on behalf of an auction court. The Eppli newsletter, which can be obtained online, provides information about the dates.