Conditions of Sale for Direct Auctions

These conditions represent the conditions of sale for Direct Auctions at Bruun Rasmussen Kunstauktioner A/S (BRK) and are valid from 5 November 2018. BRK may modify the conditions of sale at any time. By entering into an agreement concerning the sale of an item at auction, the seller accepts the current conditions of sale as they appear on bruun-rasmussen.dk.

 

Direct Auction allows registered customers to place an item up for auction themselves via BRK's platform Direct Auction. At a Direct Auction, the transaction takes place directly between the seller and the buyer within the framework set up by BRK. BRK is not a party to any agreement on the sale of a given item. BRK merely provides the platform for transactions between the seller and the buyer. BRK is therefore not responsible for the fulfilment of the agreement entered into by the seller and the buyer, except for what may be stipulated in these conditions. BRK is not in possession of the items offered for sale and does not vouch for their condition or authenticity.

BEFORE THE AUCTION

1 Valuation of Items

1.1 Before an item can be put on sale at Direct Auction, it has to be valuated and accepted by BRK in accordance with these conditions.

1.2 The valuation is solely conducted on the basis of digital photographs and the information that the seller uploads to BRK via bruun-rasmussen.dk. Items that are intended to be sold through Direct Auction are therefore not physically valuated and cannot be consigned to BRK for valuation or storage.

1.3 The seller is obliged to provide BRK with all known information regarding the item in order that the subsequent description and valuation are true and fair. The seller vouches for the accuracy of the information and documentation submitted, and BRK is not responsible for valuations based on incorrect or misleading information and documentation received from the seller.

1.4 BRK conducts the valuation of the item based on the information and documentation received. The valuation is an estimate of the expected hammer price and is based on previous sales of the same type of item and experience at BRK. The hammer price may, therefore, end up being higher or lower than the estimated price. The estimated price can either be a fixed amount or constitute a range between two amounts.


2 Acceptance of Sale

2.1 If, after receiving BRK's valuation, the seller wishes to sell the item at Direct Auction, the seller must accept these conditions of sale at bruun-rasmussen.dk.

2.2 In order to make use of a Direct Auction, the seller must be registered as a customer at bruun-rasmussen.dk. Among other information, registration requires a credit card number and bank account details. All registered information is stored and handled in accordance with BRK's current personal data policy.

2.3 The seller always guarantees that they have full ownership and are entitled to dispose of the items offered for sale. The seller also guarantees that the item is free and unencumbered.

2.4 The seller guarantees in all respects that the uploaded photographs and documentation do not infringe upon third-party rights and that the seller is entitled to transfer the right to use the images in accordance with this provision.

2.5 In connection with the offering of the item in question for sale through Direct Auction, a reserve price is set, below which the item cannot be sold. In most cases, the reserve price constitutes 50% of the lowest estimated price for items below DKK 10,000 and 70% for items above DKK 10,000.

2.6 The seller is responsible for the sale being carried out in accordance with the correct VAT rules, see section 8.

3 Description of Items

3.1 Based on the seller's acceptance of the conditions of sale, BRK will catalogue the item based on the seller's uploaded material, including digital photographs and text. The description is prepared according to the best of BRK’s knowledge and in accordance with the prevailing views among experts at the time of sale.

3.2 As a starting point, everything is sold as used items. The items up for auction are of an age and nature that often mean they are in a worn, repaired or damaged condition. Since BRK does not physically appraise items for Direct Auction, see section 1.2., the description does not include a statement regarding the condition of the item in question.

3.3 The seller grants BRK the right to use the photographs uploaded by the seller free of charge for the purpose of promoting the item on bruun-rasmussen.dk and potentially via other marketing channels, such as advertisements, newsletters and on social media.

DURING THE AUCTION

4 Auction Process

4.1 The item is offered for sale via BRK's Direct Auction platform.

4.2 The seller can at any time follow the auction as it takes place at bruun-rasmussen.dk.

4.3 The item will be sold at the highest price given during the bidding round and not below the agreed-upon reserve price, see section 2.5.

4.4 The seller agrees not to offer or sell the item to another party once the sales proposal has been accepted.

4.5 The seller is obliged to take care of the item as long as the auction is in progress. The seller is responsible for not letting the item be exposed to damage and/or wear and tear causing a loss in value during the period from the preparation of the valuation and until the item is shipped off by the seller in accordance with section 5.2.

AFTER THE AUCTION

5 Completion of the Sale

5.1 Once the auction is completed, the seller receives an email from BRK containing information about the result of the auction and instructions regarding the completion of the transaction.

5.2 For smaller items, the following applies:

5.2.1 The shipment of the item in question must take place within three days of the seller receiving notification that the buyer has paid the amount due, see section 5.1.

5.2.2 The seller is responsible for packing and sending the item securely and in accordance with instructions provided by BRK. The seller bears the full responsibility for the item until it is handed over to the designated carrier.

5.2.3 The seller must download the package label provided by BRK and follow BRK's instructions on how to package the item properly. The instructions will indicate which shipping locations can be used. The information is available at bruun-rasmussen.dk under the seller's personal page.

5.3 For larger items, the following applies:

5.3.1 The seller is contacted by BRK's carrier on the day after the auction in order to schedule an appointment for a pickup. The pickup must take place no later than five days after the auction.

5.3.2 If the seller is unable to deliver the item at the agreed pickup time, the seller will be billed for the carrier’s time spent driving. The seller will be contacted at a later date to schedule a new appointment for a pickup by the carrier.

5.3.3 It is not necessary to pack the larger items being picked up by a carrier.

5.4 The seller is required to send exactly the same item as depicted in the photographs uploaded to BRK in connection with the preparation of the valuation.

5.5 When the seller sends the item, the buyer is automatically notified of the shipment. When the buyer receives the item, the seller is automatically notified of this receipt.

5.6 If the seller at the time of the shipment finds that the item has been damaged or its condition differs from its condition at the time of valuation, the seller must immediately contact BRK.

5.7 If the item is not sold, BRK will in certain cases offer the seller a new auction with a revised valuation and reserve price. A revised valuation and reserve price will only be offered in agreement with the seller. If the seller does not want to sell the item at the revised valuation, the item will be removed from Direct Auction.

6 Insurance

6.1 All consigned items are insured against loss and damage for the period between the seller ships off the item and it is received by the buyer. The insurance means that the seller will be entitled to compensation if the item is damaged or lost during shipping. The insurance coverage includes the amount that the seller would have been charged by BRK in connection with a completed sale, see section 9.1.

7 Commission and Registration Fees

7.1 When selling at Direct Auctions, a commission fee of 9% of the hammer price, including relevant VAT, will be charged.

7.2 BRK charges a registration fee of DKK 50 including VAT for each item that comes up for auction.

7.3 If the item is not sold, BRK will not charge a commission fee or a registration fee.

8 VAT

8.1 All items are offered with VAT on second-hand goods if that is possible according to the current legislation. The sale of the items according to the general VAT rules (full VAT) takes place at the request of the seller or in cases where the VAT for second-hand goods cannot be applied.

8.2 If the seller is aware that the item must be sold at full VAT, the seller has to inform BRK of this. In cases of any doubt, the seller is obliged to investigate, determine and take financial responsibility for the correct choice of VAT type. Items offered at full VAT are marked with the text: "This item is subject to full VAT" on bruun-rasmussen.dk.

9 Settlement of the Account

9.1 BRK pays the proceeds by bank transfer to the account that the seller has registered with BRK, see section 2.2. The proceeds are calculated as the actual purchase price minus the commission fee and registration fee.

9.2 The transfer will be initiated no later than 25 days after the auction and no earlier than once the right to cancel the purchase has expired after 14 days, see section 10.

9.3 If BRK is owed an amount by the seller, e.g. from previous purchases or sales, such an amount will be set off against the proceeds in the settlement.

9.4 It is a prerequisite for settlement with the seller that the full purchase price is received from the buyer. The seller has been expressly made aware that should the buyer fail to pay the purchase price; the seller cannot bring a claim against BRK.

9.5 BRK is entitled to cancel the transaction if BRK finds that the buyer is not capable of paying. In such cases, the item will be put up for auction according to the same conditions of sale as originally agreed upon.

10 The Right to Cancel a Purchase

10.1 In accordance with current legislation, private buyers have the right, without providing any reason, to cancel the transaction from the time of purchase and up until 14 days after the buyer has received the item.

10.2 The buyer must, within 14 days of receiving the item, notify BRK that they are exercising their right to cancel the purchase. The buyer must then, in accordance with BRK’s instructions, return the item to the seller as soon as possible and no later than within 3 days.

10.3 If the buyer withdraws the purchase, BRK will, in principle, auction off the item again with the same valuation and under the same conditions as originally agreed upon.

11 Termination of the Agreement

11.1 If the seller, for whatever reason, chooses to cancel an auction, the seller is obliged to pay BRK the total amount of fees (i.e. both commission fee, buyer’s premium and registration fee), see section 7, which BRK would have received by selling the item at the lowest estimate stated. The payment will be made automatically by charging the seller's registered credit card.

11.2 If the seller fails to send the item to the buyer in a timely manner, the auction is considered to have been cancelled by the seller, who is then obliged to pay BRK in accordance with section 11.1.

11.3 If an auction is cancelled, regardless of whether this is done at the initiative of the seller or the buyer, and an agreement is reached after the cancellation regarding the purchase of the item in question between the buyer and the seller, BRK is entitled to charge the amount referred to in section

11.1, provided it can be assumed that the contact between the buyer and the seller was established through the Direct Auction platform.

12 Defects and Deficiencies in Items Sold

12.1 BRK only facilitates the use of Direct Auctions for the buyer and seller and is in no way responsible for the item.

12.2 The seller bears the full responsibility for the condition and quality of the item and is liable for damages and any claims made under the rules of the Danish Sale of Goods Act in accordance with the general rules of Danish law.

12.3 If, after the auction sale, it turns out that the sold item is a forgery or that the description contains significant errors that resulted in a hammer price higher than it would have been if the description had been correct, the buyer is entitled to cancel the purchase. In such cases, the seller is to refund the proceeds to BRK immediately. BRK is entitled to withhold any unsettled proceeds until a possible dispute has been resolved.

13 Misuse and Violation of the Conditions of Sale

13.1 In the event that BRK has a reasonable suspicion that the seller or buyer has acted in breach of these conditions of sale or otherwise sought to misuse a Direct Auction for their own profit contrary to honesty, BRK is entitled to suspend, block or terminate the customer's account with BRK, and under such circumstances, BRK is not obliged to refund any amount that may be in the customer's account.

14 Limitation of Liability

14.1 BRK is aware that errors, technical difficulties and external abuse or disruptive influences may occur during the auction. The seller cannot raise any claims against BRK as a result of such events.

14.2 Unless otherwise stated in these conditions of sale, BRK can never be held liable for the seller’s operating loss, loss of profits, other indirect losses or consequential loss.

15 Personal Data Policy

15.1 It is important to BRK to ensure confidentiality and security regarding the seller’s personal information. BRK's personal data policy can be found on bruun-rasmussen.dk.

16 Complaints, Dispute Resolution and Applicable Law

16.1 BRK can always be contacted if the seller has a complaint.

16.2 If the seller is a consumer and a solution cannot be found, a complaint can be submitted to the Complaint Resolution Centre, Nævnenes Hus, Toldboden 2, 8800 Viborg, Denmark, if the conditions for such a complaint are met. The seller can register a complaint with the Complaint Resolution Centre on forbrug.dk.

16.3 Any dispute that may arise between the seller and BRK which cannot be resolved amicably, including disputes concerning the interpretation or validity of these conditions of sale, is subject to Danish law.

16.4 In Denmark, disputes must be brought before the City Court of Copenhagen. The mandatory rules on jurisdiction apply to consumer interests.


Jesper Bruun Rasmussen, auctioneer