§ 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 Bruun Rasmussen Kunstauktioner (hereinafter
called Bruun Rasmussen), 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. Bruun Rasmussen
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 Bruun Rasmussen. Bruun Rasmussen 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.
Credit/debit card information must be registered with Bruun
Rasmussen before bids can be submitted.
§ 2. PAYMENT
Purchases made at all Bruun Rasmussen traditional salesroom auctions
are subject to a 30% fee (for wines, coins and stamps 25%),
which covers 24% buyer’s premium plus VAT of the premium.
Purchases made at all Bruun Rasmussen online auctions are subject
to a 25% fee, which covers 20% buyer’s premium and 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, wines, 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 Bruun Rasmussen
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 VAT-exemption rules apply (cf.
Article 3). VAT-exemption 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-,
Master-, Diners Club- or Eurocard. Personal foreign cheques may
only be used for payment by prior arrangement.
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, payment automatically
takes place when the items are prepared for dispatch (circa
12 hours after the purchase has been made) using the credit/
debit card details submitted by the purchaser. At the same time
an invoice and dispatch information 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 Bruun Rasmussen has sent its demand to the buyer,
Bruun Rasmussen shall be entitled to rescind the sale and resell
the goods at a Bruun Rasmussen 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 Bruun Rasmussen, Bruun Rasmussen 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, Bruun
Rasmussen shall be entitled to sell such goods at a Bruun
Rasmussen auction without being bound by the reserve stipulated
by the defaulting buyer. The defautling buyer shall not be
entitled to demand the surrender of goods deposited for sale as
long as the debt payable to Bruun Rasmussen has not been discharged,
regardless of whether the value of such goods may be
deemed to exceed the debt payable.
Bruun Rasmussen shall be entitled to refuse a bid made by a
buyer who is in default in respect to his payment obligations
to Bruun Rasmussen, as well as a bid made by a third party on
behalf of such a defaulting buyer. Bruun Rasmussen shall further
be entitled to demand a deposit as a condition of accepting any
future bids from such a purchaser.
§ 3. MONEY-BACK GUARANTEE
A. Purchases made on all traditional salesroom auctions are uncoditional
and can not be cancelled regardless of the type of bid
such as absentee web bid, live-bidding or otherwise.
B. Online purchase of items by private individuals is subject to
Danish consumer law, which extends 14 days of money-back
guarantee. The purchaser is liable for any costs related to the
transport of returned items.
Should a purchaser seek to avail himself or herself of the
money-back guarantee, Bruun Rasmussen 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. EXEMPTION FROM VAT
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 Bruun Rasmussen until
documentation has been provided to show that the goods have
been exported as required by law.
A. Buyers who are VAT-registered 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 Bruun Rasmussen 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 VAT-registered.
It is advisable to check with the relevant local authorities.
B. 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, Bruun Rasmussen
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 Bruun Rasmussen, the VAT need not be deposited. See the
list of approved freight forwarders
§ 5. PAYMENT OF TAXES AND DUTIES
A. VAT-registered businesses in other EU Member States may
opt out of exercising the option of VAT exemption and
instead pay Danish VAT on second-hand goods/full VAT.
Bruun Rasmussen must be informed of this before 10 am on
the day after the purchase.
B. VAT-registered businesses in Denmark may choose to pay full
VAT, cf. above. Bruun Rasmussen must be informed of this
before 10 am on the day after the purchase.
860-monter.indd 230 09/10/15 17.02
The above is an English translation of the Danish version of the Conditions of Purchase. In case of dispute, only the Danish version of the present Conditions of Purchase of Bruun Rasmussen is valid.
BRUUN RASMUSSEN BREDGADE AUCTION 860 231
§ 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 Bruun Rasmussen undertake the packaging and forwarding
of purchased goods, this shall be done at the buyer’s own
expense and risk. Bruun Rasmussen 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 Bruun Rasmussen on behalf of Copydan, which is a
Danish-based 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 Bruun Rasmussen 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 Bruun Rasmussen’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, Bruun Rasmussen
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 can only be exercised by the party who has
bought the lot in question at Bruun Rasmussen and shall be
subject to the presentation of a claim for cancellation in writing
to Bruun Rasmussen within 2 years of the purchase date and
to the purchased lot being returned to Bruun Rasmussen in the
same condition in any and all respects which the purchased lot
was in at the time of the lot being knocked down to the buyer.
In the event of cancellation the buyer shall not be entitled to
claim payment of interest on the purchase price nor shall the
buyer be entitled to claim compensation for any other expenses
or loss incurred, including any possible loss of profit in connection
with reselling.
It shall not be possible to state cancellation of a purchase in
pursuance of the above provisions if:
a the description on the day the lot was knocked down to the
buyer was in accordance with the then generally accepted
opinion of scholars and experts;
b the only way of establishing whether the lot was a forgery at
the time of the sale was the implementation of scientific processes,
the validity of which was only acknowledged after the
time of the sale, or which would have required a disproportionate
amount of cost, or which would have been impossible
to carry out without damaging the lot in question.
In addition to the time-limits stated above, all purchases are
subject to the Statute of Limitations stipulated by danish law by
which Bruun Rasmussen is under no circumstance liable for purchases
after 5 years from the date of purchase.
Bruun Rasmussen Auctioneers
Jesper Bruun Rasmussen, auctioneer
Jørgen Byriel, officially appointed external supervisor
COMMISSION
Bruun Rasmussen undertakes to execute commission bids for
bidders who are unable to be present at the auction. It is a prerequisite
that Bruun Rasmussen receives the commissions by letter,
fax or telephone 24 hours before the start of the auction for
the bidders’ credit to be checked, if necessary. Bids by the homepage
are to be recieved a minimum of 3 hours before the start of
the auction. Bruun Rasmussen is not to be held responsible for
any errors that may occur using this service.
CONDITION REPORTS
Bruun Rasmussen undertakes to provide further information
about the state and condition of the lots if possible. This is
regarded as a service for customers who are unable to make a
personal inspection of the lots at the preview. Bruun Rasmussen
stresses that the information given cannot be used as the basis
for complaints; complaints can only be based on the description.
EXEMPTION FROM VAT
Buyers shall, according to § 2, pay full VAT on lots marked with
an asterisk (*).
No Danish VAT is to be paid when VAT registered companies
from other EU countries buy at Bruun Rasmussen and resell
to private buyers, The private buyer then only has to pay VAT
according to the rules in force in the country where the foreign
company is VAT registered. For further information please consult
your local authorities.
The above is an English translation of the Danish version of the
Conditions of Purchase. In case of dispute, only the Danish version
of the present Conditions of Purchase of Bruun Rasmussen is valid.