Sales Conditions
CONDITIONS OF PURCHASE
§ 1. Bidding
The buyer shall be the highest bidder at the "hammer price". Any person bidding
on behalf of a third party shall be liable in surety for completion of the sale.
At the request of Auktionshuset A/S (hereinafter called Auktonshuset), all bidders,
whether they wish to make bids in person at the place of auction or commission
bids by letter, fax or the homepage direct telephone bids or the
homepage, should be able to document their ability to pay and be able to provide
proof of identity at any time. Auktionshuset is entitled to refuse to accept a bid
if, when requested, adequate security or adequate payment on account has not
been rendered.
Bids should be made by the bidder in person at the place of auction or by written
commission by letter, fax or the homepage. For online auctions alle bids are
submitted via the homepage. Telephone bidding is possible within certain conditions
made out by Auktionshuset. Auktionshuset is not to be held responsible for
any errors that may occur using this service. The auctioneer shall have absolute
discretion as to the increment of the bids. The auctioneer will also make decisions
in all cases of doubt regarding the bidding.
Buyer must be registered with Auktionshuset before bids can be submitted.
§ 2. Payment
Purchases made at all Auktionshuset's online auctions are subject to a 25% fee,
which covers 20% buyer's premium and VAT of the premium.
Purchases made at all Auktionshuset's traditional salesroom auctions are subject
to a 25% fee, which covers 20% buyer's premium plus VAT of the premium.
Certain lots are sold in accordance with specific rules on normal VAT arrangement
(hereinafter called normal VAT), so that the purchase price is the hammer
price plus an additional 24% (for online auctions, wine, coins and stamps 20%)
in buyer's premium and VAT of 25% levied on both the hammer price and the
buyer's premium. The lots subject to Full VAT are indicated as such in the catalogue
and on the homepage with an asterisk (*).
Danish VAT registered buyers shall provide Auktionshuset with documentation
of their SE/
CVR number
(VAT No.) as this has to be quoted on the invoice for
goods bought at full VAT.
For some foreign buyers, specific VATexemption
rules apply (cf. Article 3). VATexemption
does not apply to private buyers from the EU who are considered as
Danish buyers (cf. current Danish legislation on Special VAT Scheme for Sales
of Works of Art, Collectors'items and Antiques by Public Auction).
The purchase price falls due for payment when the goods have been knocked
down. Payment may be made in cash up to DKK 50,000, by Dankort, banker's
cheque, traveller's cheque, Visa,
Masteror
Eurocard. Personal foreign
cheques may only be used for payment by prior arrangement.
Payment can also be made by bank transfer.
At traditional auctions payment for purchased items must be made during or immediately
after the auction. Under all circumstances payment must be made no
later than eight days from the date of the invoice. With online auctions an invoice
will be sent to the purchaser.
Should the purchase price not be paid by the due date, interest at 1.5 % per new
month will be charged.
If the purchase price and interest are not paid within eight days after Auktionshuset
has sent its demand to the buyer, Auktionshuset shall be entitled to rescind
the sale and resell the goods at a Auktionshuset auction or privately, and to
demand reimbursement of any related losses from the defaulting buyer. Any
further profit on the sale shall be payable to the person who had deposited the
goods for sale by auction.
If the defaulting buyer is entitled to proceeds from a sale of goods by Auktionshuset,
Auktionshuset shall be entitled to set off its receivables against its payables
to the defaulting buyer.
If the defaulting buyer has deposited other goods for sale, Auktionshuset shall
be entitled to sell such goods at an Auktionshuset auction without being bound
by the reserve stipulated by the defaulting buyer. The defaulting buyer shall not
be entitled to demand the surrender of goods deposited for sale as long as the
debt payable to Auktionshuset has not been discharged, regardless of whether
the value of such goods may be deemed to exceed the debt payable.
Auktionshuset shall be entitled to refuse a bid made by a buyer who is in default
in respect to his payment obligations to Auktionshuset, as well as a bid made by
a third party on behalf of such a defaulting buyer. Auktionshuset shall further be
entitled to demand a deposit as a condition of accepting any future bids from
such a purchaser.
§ 3. Return rights
Online purchase of items by private individuals is subject to Danish consumer
law, which extends 14 days of moneyback
guarantee. The purchaser is liable
for any costs related to the transport of returned items. Please note that the right
to annul a purchase only apllies to online auctions ("Netauktioner"). It does not
apply to "Kvalitetsauktioner" or other public auctions where the sale takes place
in the auction room regardless of how the bid has been placed.
Should a purchaser seek to avail himself or herself of the moneyback
guarantee,
Auktionshuset will refund the payment on receiving the returned items.
Please note that the date on which accounts are debited is subject to the policy
of the purchaser's bank/credit card company.
§ 4. VAT Exemption
Foreign buyers who meet the following conditions pay the applicable auction fees,
cf. above, but are not charged Danish VAT. However, the Danish VAT must
be deposited at Auktionshuset until documentation has been provided to show
that the goods have been exported as required by law.
Buyers who are VATregistered
in another EU country are exempt from paying
Danish VAT when it can be documented that the item purchased has been
transported to the address declared by the buyer to Auktionshuset and specified
on the invoice. In such cases, VAT must be settled in accordance with the rules
in force in the country where the company is VATregistered.
It is advisable to
check with the relevant local authorities.
Buyers domiciled outside the EU may be exempt from Danish VAT when it can
be documented that the purchase has been transported out of the EU. As far as
possible, Auktionshuset issues the necessary export documents to be presented
to the customs authorities, and reserves the right to charge a fee for doing
so.
If the goods are being exported by a freight forwarder authorised by Auktionshuset,
the VAT need not be deposited.
§ 5. VAT Payment
VATregistered
businesses in other EU Member States may opt out of exercising
the option of VAT exemption and instead pay Danish VAT on secondhand
goods/full VAT. Auktionshuset must be informed of this before 10 am on the day
after the purchase.
VATregistered
businesses in Denmark may choose to pay full VAT, cf. above.
Auktionshuset must be informed of this before 10 am on the day after the purchase.
§ 6. Collection of purchases
The purchase price must be paid in full before the purchased lot can be passed
over to the buyer. From the time of the lot being knocked down to the buyer, until
its collection, the purchased lot will be held at the buyer's own expense and risk.
A storage fee will be charged for lots which have not been collected according to
agreement. Lots which have been paid for but not collected will be storaged at
buyers expense. Lots not collected within 1 year will be resold at auction or privately
at the buyer's expense.
§ 7. Dispatch
Should Auktionshuset undertake the packaging and forwarding of purchased
goods, this shall be done at the buyer's own expense and risk. Auktionshuset
shall thus not be held liable neither for any damage caused to purchased goods
during dispatch nor for any missing consignments.
§ 8. Droit de Suite
In accordance with Danish copyright law, an additional royalty fee is to be paid
for the purchase of works by contemporary Danish artist and some international
artists who are either still alive or who have been dead for less than 70 years.
The additional royalty fee will be collected by Auktionshuset on behalf of Copydan,
which is a Danishbased
joint collecting society. Such works are marked
with (CD) for Copydan next to the lot number.
The Copydan royalty fee is added to the auction price including the buyer's premium
when the total exceeds €300.
Copydan royalty fees:
• 5% of the auction price and buyer's premium (excluding VAT) totalling up to
€50,000.
• 3% of the auction price and buyer's premium (excluding VAT) of totals between
€50,000 and €200,000.
• 1% of the auction price and buyer's premium (excluding VAT) of totals between
€200,000 and €350,000.
• 0.5% of the auction price and buyer's premium (excluding VAT) of totals between
€350,000 and €500,000.
• 0.25% of the auction price and buyer's premium (excluding VAT) of totals
above €500,000.
Copydan royalties must not exceed €12,500 for an individual artwork.
The euro exchange rate has been set by Copydan for 2015 at DKK 744,01 per
€100.
§ 9. Export licence
Applications for an export licence must be made to the Danish Cultural Assets
Committee when required in accordance with current Danish legislation on the
protection and preservation of cultural assets in Denmark. Where such a licence
has not been obtained, the foreign buyer will be informed thereof immediately
after the lot has been knocked down to the buyer. Another application will subsequently
be sent to the Danish Cultural Assets Committee by Auktionshuset on
behalf of the buyer, now that the price is known. Should an export licence not be
granted, the Danish Cultural Assets Committee would be obliged to acquire the
purchased lot at the purchase price, and the buyer would thus not be bound to
the purchase.
§ 10. Description of lots
All lots are sold in the condition in which they are found when knocked down
and as described in the catalogue and on the homepage with subsequently published
changes and modifications. Description is done according to the best of
Auktionshuset's knowledge and on the cataloguing principles stated.
The lots auctioned are often of some age or of a kind which makes it possible
that they may contain defects, deficiencies, or may have been subject to restoration
or damage not necessarily stated in the catalogue and on the homepage.
Pictures are for identification only and cannot be used for an evaluation of the
condition of the goods.
Any person who wishes to bid at an auction should therefore satisfy himself of
the condition of the lots for which he intends to bid by personal inspection at the
preview held prior to the auction. The description is an indication of the prevailing
opinion of scholars and expert at the time of the sale. If any doubts should
arise after the purchase regarding the genuineness of the purchased lot or its
conformance with the description, Auktionshuset should immediately be informed
thereof.
Should the purchased lot be proved to be a forgery, or if the description contains
material errors which lead to a considerably higher hammer price than that
which a correct description would presumably result in, the buyer shall be entitled
to cancel the purchase, after which the buyer shall be reimbursed for the total
purchase price paid plus buyer's premium and VAT, when applicable.
For material errors in the description in respect to measurements or weight,
compensation shall only be paid on a percentage basis in proportion to the difference.
The right of cancellation of a purchase in pursuance of the present conditions
