Glossary

This glossary is for information purposes only, no legal claim is derived from it.

Abgeld
A buyer's premium is the amount paid by the consignor to the auction house upon successful sale. The buyer's premium usually depends on the amount of the hammer price.

Auction number
The auction number is a sequential number that uniquely identifies the auctions of an auction house. Note: each auction house has its own auction number.

Surcharge
Is the additional amount that the person who buys an object has to pay and that represents the auctioneer's profit (especially in auctions). Unlike other auction houses, Eppli includes the buyer's premium in the starting price as well as in the hammer price. The amount called or bid in the auction therefore represents the final price.

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

Auction
Is an event where something is auctioned. Eppli's auctions are public auctions. The consigned items are described and presented to the best of our knowledge and belief and are auctioned off in the auction room by the auctioneer to the highest bidder.

Auctioneer
The Auctioneer shall conduct the auction and conduct it in a proper and fiduciary manner. He has to represent the interests of two parties, the consignor (seller) and the highest bidder (buyer).

Auction results
Represents the results of an auction. There are the surcharges of all objects which came to the call in an auction listed. The results of Eppli auctions are published as a list on the Internet promptly after the auction and for a period of one week. After that, the results can be requested verbally or by telephone.

Auction catalog
A catalog in which the items offered for auction are listed and described, often also illustrated. For each auction, Eppli prints a list of the items to be auctioned, also as e-catalogs. This list can be seen on the company's own homepage under the menu item Auctions/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, consignors will be notified when the money is ready for collection.

Bidding
Making a bid at an auction. At Eppli, bids can be made in a number of ways: in person at the auction, by phone, or in writing. Written bids can be sent by fax, mail 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 them clearly identifiable internally. Personal bidders receive it at Eppli on the auction day and show it to the auctioneer when the bid has been successfully accepted.

Differential taxation
The differential taxation is important when trading with already used movable tangible goods. It is intended to prevent VAT from being charged again in full on the entire used item when it is resold. In the case of differential taxation, only the difference between the purchase price and the sales price is subject to VAT.

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. Submitted bids are binding and can therefore not be withdrawn.

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

Insolvency auction
Are auctions held in the course of insolvencies. They offer the insolvency administrator the chance to use the proceeds to clear up some of the existing debts. In the name and for the account of an insolvency administrator, Eppli also auctions items from insolvency estates, which may also include new goods.

Limit
The limit is the price agreed with the consignor below which the consigned art or valuable object cannot be sold. If the limit is not reached, the auctioneer may, in exceptional cases, knock down with reservation.

Lot
A lot is an object for sale at an auction. The lot number (lot) uniquely identifies the respective object. The sequence of the called objects of an auction usually follows the numerical sequence of the lot numbers.

lot-tissimo
Is an auction portal where numerous auction houses post their complete auction catalogs.

Post auction sale
In the after-sale, items that were not sold in an auction are offered for sale. At Eppli Auction House, you can purchase items from the after-sale on our OnlineShop or directly in our showrooms/branches usually at the call price.

Online store
An online store 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 goods over the Internet. In Eppli's online store, you can purchase items that did not win in previous auctions or that come from special consignments such as excess stock.

Deposit credit
Credit that can be obtained against the deposit of a pledge. The Eppli Auction House is authorized to grant pledge credits. Pawn credit belongs to the oldest banking transactions, is discreet and uncomplicated.

Pledge auction
Occasionally it happens that a pledger does not redeem the pledged items. Then, after a reasonable period of time, these items are auctioned.

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

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

Telephone bidder
The telephone bidder is a bidder who participates in an auction by telephone. At the Eppli auction house, this option is only offered for objects with a value of 200 euros or more. The telephone bidder is called by an employee of the auction house shortly before the call of the lot in which he is interested and for which he would like to bid, and is then represented by this employee when bidding in the room. The prerequisite for this is a customer account. To do this, you must register on our site.

Sub-bid
If a prospective buyer submits a bid below the limit, the auctioneer can knock down the desired item under reserve.

Underbidder
In auctions, the underbidder is a bidder who is below the highest bid. Since the underbidder has as big a stake in the winning bid as the buyer, the auctioneer considers the underbidder to be just as important as the high bidder himself.

Reservation
A reserve (reserve award) is an award of a lot (lot, number) that is binding on the buyer and is made subject to the approval of a third party. As a rule, these are knockdowns below the limit price, to which the consignor must first agree.

Preview
The items to be auctioned will be displayed at the latest one week before the auction at the respective premises of Eppli. Auction dates will be announced on the company's website and in the daily press.

Knockdown
The bid is accepted by the auctioneer if no higher bid is submitted after three calls for bids. The knockdown is usually indicated by a hammer blow with the call "To the first, to the second, and - to the third!". With the fall of the hammer, possession of and risk in the auctioned item pass directly to the successful bidder, while ownership does not pass until payment has been made in full.

Forced Auction
Compulsory auction to satisfy creditors. Forced auctions take place at Eppli. They are carried out on behalf of an auction court. The Eppli newsletter, which can be obtained online, provides information about the dates.

Jewelry

international ring sizes
In our online store, we use German ring sizes and refer to them as ring width. The German size measures the inner circumference of the ring. To do this, the inner diameter is measured with a caliper and multiplied by circle number pi (3.14) to the inner circumference. Example: 15.9 cm *3.14 = 49.926 cm. This results in a ring width (RW) of 50.