Conditions of sale

§ 1. Registration fee

Bruun Rasmussen charges a registration fee for each lot. This fee covers overhead expenses for registration, photos, insurance, catalogue and online presentation. These are expenses that Bruun Rasmussen incurs whether the lot is sold or not.

For items not offered in one of the special categories, this registration fee amounts to DKK 500 per lot at traditional auctions in Copenhagen and DKK 250 per lot at online auctions.

For coins and stamps the registration fee amounts to DKK 250 per lot at traditional auctions and DKK 50 per lot at online auctions.

For wine the registration fee amounts to DKK 125 per lot at online auctions.

All amounts include possible government taxes.

§ 2. Commission

A commission of 16% of the hammer price is charged for items sold, all taxes included. This is the commission that Bruun Rasmussen charges for selling a lot.

If a lot is not sold, Bruun Rasmussen will charge no commission, but only the registration fee, cf. section 1.

§ 3. Estimate and cataloguing

The estimate expresses the value of the lot that Bruun Rasmussen, at the time of the valuation, expects it to have when sold at auction. The estimate is based on current demand and reflects any circumstance that may influence the valuation, including the condition and provenance etc. of the item in question.

Bruun Rasmussen is charged with the task of selling the deposited goods at the highest bid. The catalogue description is performed with utmost care and in agreement with the prevailing opinion among experts at the time of cataloguing.

If an item sold at auction is later acknowledged to be a forgery, or if the description of it is proven incorrect on decisive points, the buyer is entitled to cancel the purchase and to be reimbursed. In such case the seller is obligated, on demand, to repay all proceeds to Bruun Rasmussen immediately, just as Bruun Rasmussen is entitled to withhold any part of proceeds not yet disbursed until possible disputes have been settled.

§ 4. Rights and obligations

The seller warrants to be the sole and true owner of the deposited goods and that the right to dispose of them are unlimited by any third party claim. The seller is obligated to pass on to Bruun Rasmussen all information pertaining to the deposited goods in order that the lot may be described as accurately as possible in the auction catalogue.

For items estimated or sold at a sales price in excess of EUR 15,000, Bruun Rasmussen is liable by law to procure and file the identity of the seller, including name, address and civil registration number. These informations will be kept on file for five years from the date at which the proceeds are disbursed.

The seller entitles Bruun Rasmussen to reproduce the deposited goods in catalogues, on Bruun Rasmussen's homepage or any other relevant place without charge.

Certain items are covered by the Washington Convention, which aims to regulate trade in endangered species of wild flora and fauna. The consignment of such items implies acceptance of the fact that Bruun Rasmussen will obtain the necessary permits from the Danish authorities on behalf of the seller prior to the auction.  

Prior to the preview the seller will receive a description and a valuation of the deposited goods. Should these in the opinion of the seller be incorrect, the seller is obligated to inform Bruun Rasmussen of this as soon as possible and before the preview commences. If the seller does not observe these terms, Bruun Rasmussen is entitled to proceed on the basis of the stated description and estimate.

Bruun Rasmussen reserves the right to sell goods deposited for sale, without regard to any reserve agreed upon, in case Bruun Rasmussen has an outstanding account against the seller.

§ 5. Insurance

Any item submitted to Bruun Rasmussen for auction is insured against fire, damage by water, theft or total loss for the amount of the lowest estimate stated on the receipt. Goods listed in the auction catalogue or presented on Bruun Rasmussen's homepage are insured for the lowest estimate stated here.

Items submitted for valuation and investigation are insured for an estimate determined by Bruun Rasmussen. The insurance does not cover damages to frames or stucco, scratches, wear or the loss of small items such as keys, bandings or mounts, and Bruun Rasmussen cannot be held responsible in such cases.

§ 6. Settlement

The sales proceeds will be remitted to the seller no later than one month after the last day of auction provided the total amount due has been received from the buyer.

Bruun Rasmussen is entitled to cancel the sale if the buyer fails to pay the purchase price in due time as stated in Bruun Rasmussen's Conditions of Purchase. Please note that for a period of fourteen days after the purchase non-commercial buyers are entitled by law to cancel purchases made at online auctions. If this right is used, the seller is obligated on demand to immediately reimburse Bruun Rasmussen for any proceeds already received.

If Bruun Rasmussen has an outstanding account against the seller or has had expenses for transport or other similar expenses, these are set off against the proceeds.

In consultation with Bruun Rasmussen the seller may agree on a reserve. If the hammer price is less than the reserve agreed upon, Bruun Rasmussen will calculate sales proceeds as well as commission as if the hammer price was equal to the reserve.

Unless otherwise agreed, Bruun Rasmussen may, on behalf of the seller, include unsold lots not yet claimed by the owner in a later auction. After the auction Bruun Rasmussen will inform the seller of sold and unsold lots.

Within eight days from the conclusion of the auction, the seller must inform Bruun Rasmussen whether unsold lots are to be put up for auction again at a reduced estimate or whether they will be taken back. If a lot is not claimed as agreed, a storage fee will be charged.

§ 7. VAT

All deposited goods are sold under the Auctioneers' Margin Scheme where possible, according to the legislation in force. Goods may be sold at full VAT on the seller's request or where the Auctioneers' Margin Scheme does not apply. Lots sold at full VAT are marked with an asterisk (*). When selling goods at full VAT, businesses VAT-registered in Denmark will receive the full VAT with their settlement.

§ 8. Withdrawal

When a sale at auction has been agreed upon, lots may be withdrawn under exceptional circumstances only, and only against payment of the total income which Bruun Rasmussen could have obtained when selling the deposited goods at the lowest estimate mentioned in the catalogue or stated on Bruun Rasmussen's homepage.

§ 9. Dispute

Any dispute between the parties, arising in connection with depositing and sale etc. of a lot, shall be subject to Danish Law. Disputes between the seller and Bruun Rasmussen shall be submitted to and be subject to the jurisdiction of the Copenhagen City Court.