These conditions of purchase represent Bruun Rasmussen
Kunst auktioner A/S’ (“BRK”) conditions of
purchase for traditional auctions and are effective from
1 January 2017. BRK may modify the conditions of
purchase at any time.
By bidding, the bidder/buyer accepts the current
conditions of purchase as they appear on bruunrasmussen.
dk. The conditions of purchase are applicable
to both business owners and consumers.
BEFORE THE AUCTION
1 VALUATION OF ITEMS
1.1 All the offered items are valued by BRK. The valuation is an
estimate based on the expected hammer price, see paragraph
5.3. The estimate is based on the previous sale of
similar items as well as BRK’s past experience. The hammer
price can therefore be higher or lower than the estimated
price.
2 DESCRIPTION OF ITEMS
2.1 Items up for auction are presented with photographs and
descriptions in catalogues and on bruunrasmussen.
dk.
The description is worded according to the best of BRK’s
knowledge and based on detailed research in accordance
with the prevailing views among experts at the time of sale.
2.2 The items up for auction are of an age and nature that
often mean that they are in a worn, repaired or damaged
condition. As a starting point everything is sold as used
items. For this reason, the descriptions in the catalogue
or at bruunrasmussen.
dk do not include a statement
regarding the above or the condition of the item.
2.3 In some cases, BRK may choose to describe an item’s
provenance. Such a description is made if a former owner
is publicly known and/or if the story of previous ownership
sheds further light on the item and its background. In
other cases, such information is left out of the description,
for instance to meet the seller’s wish for privacy.
2.4 It is possible that the estimate and description are revised
prior to the auction. Changes are published on BRK’s website.
3 PREVIEW
3.1 Items up for auction are presented prior to the auction in
one of BRK’s showrooms. Potential bidders are encouraged
to inspect the items closely and are responsible for determining
the condition of the items at these previews, where
they also have the opportunity to consult with the valuation
experts.
3.2 If a potential buyer does not have the opportunity to inspect
the item personally, a condition report can be drafted in
most cases. The description in this report has been made
according to BRK's honest conviction but is not based
on scientific studies. A condition report only serves as an
identification and is meant as an aid to bidders who do not
have the opportunity to inspect the item at the preview.
DURING THE AUCTION
4 THE ROLE OF BRK
4.1 The sale of an item is facilitated by BRK on behalf of the
seller, and BRK always sells items up for auction at the
highest price offered during the bidding round.
4.2 Items up for auction can have a reserve price that has been
agreed upon with the seller. The price is confidential and
the item cannot be sold below this price.
4.3 The traditional auctions are presided over by one of the
Danish Ministry of Justice’s appointed auctioneers, en suring
that the auctions proceed correctly and lawfully.
5 BIDDING
5.1 The currency used while the auctions take place is Danish
kroner. The approximate amount in euro/US dollars is
shown on screens in the saleroom and also on request.
5.2 The auctioneer determines the size of the bid increment
and the pace of the auction. Bid increments usually rise by
5% 10%
compared to the previous bid. Approximately
50100
auction lots are sold per hour.
5.3 The hammer price refers both to the gavel used by the
auctioneer that signifies the end of a bidding round on an
item and to the price (bidding amount) that the item up
for auction is sold for. See paragraph 7 regarding amounts
added to the hammer price.
5.4 The buyer is the bidder that submits the highest bid, thereby
obtaining the hammer price. At the moment the
hammer price is determined, a binding purchase/sale agreement
is entered into based on these conditions of purchase.
5.5 If bids are made on behalf of others, the bidder serves as
surety for the transaction.
5.6 Items are purchased in their present state and condition,
and regardless of the type of bidding the buyer has no
right to withdraw his bid, neither under the Danish Consumer
Contracts Act.
5.7 Bidders are required, in accordance with BRK’s instructions,
to identify themselves and document their ability to pay,
for instance by registration of a valid debit/credit card,
bank guarantee or a deposit.
5.8 BRK may refuse to accept a bid if a sufficient guarantee of
the bidder’s ability to pay is not provided, or if the bidder
has previously defaulted on payment obligations on purchases
from BRK.
5.9 The overseeing auctioneer will, in consultation with the
auctioneer at the podium, decide what to do in matters of
dispute concerning a bidding round.
6 TYPES OF BIDDING
6.1 Bidding options:
IN PERSON:
Registration and obtaining the bidding paddle take place
at the entrance to the saleroom. When the bidder wishes to
bid, it is signalled to the auctioneer on the podium by
raising the bidding paddle in the air and clearly displaying
its number.
COMMISSION BIDS:
The intended maximum bid can be submitted via bruunrasmussen.
dk until the start of the auction or by email,
fax or phone, so that the bid is received no later than 24
hours prior to the start of the auction. A commission agent
bids on behalf of the bidder within the limits of the stated
maximum bid. The commission agent will always bid the
lowest possible amount to achieve the hammer price.
BRUUN RASMUSSEN COIN AUCTION 874 161
162
TELEPHONE BID:
With certain items it is possible to have a BRK employee
call the bidder over the phone. The employee will then bid
on behalf of the bidder during the auction. The service can
be booked via bruunrasmussen.
dk up until three hours
before the auction is set to begin.
LIVE BIDDING:
It is possible to follow the auction live and bid on the
auction lots via bruunrasmussen.
dk.
PREAUCTION:
Some traditional auctions are preceded by an online auction.
The highest bids from the online auction then represent
the starting bids at the following traditional auction.
AFTER THE AUCTION
7 AMOUNTS ADDED TO THE HAMMER PRICE
7.1 In addition to the hammer price, see paragraph 5.3, the
buyer pays a buyer’s premium for the individual items as
well as the other amounts described below if the conditions
for these are applicable. The total amount that the buyer
pays to BRK is called the “purchase price”.
7.1.1 Buyer’s Premium: The hammer price always includes an
additional fee to BRK. At the traditional auctions, the fee is
24% of the hammer price + VAT of the fee, 30% in total.
For stamps and coins, the fee is 20% of the hammer price
+ VAT of the fee, a total of 25%.
7.1.2 Full VAT: Certain items are sold at auction in accordance
with the current rules regarding full VAT. In such a situation,
a VAT of 25% is imposed on both the hammer price and
the buyer’s premium. These items are marked in the catalogue
and on bruunrasmussen.
dk with the symbol “*”,
or with the text: “This item is subject to full VAT”.
7.1.3 Royalty Fee: In accordance with Danish copyright law,
royalty fees have to be charged for works by new Danish
and certain foreign artists, who are either alive or have not
been dead for more than 70 years. The fee is charged on
behalf of Copydan Visual Arts. These works are marked
“CD” in the catalogue and on bruunrasmussen.
dk. The
Copydan fee is added to the hammer price + the buyer’s
premium (exclusive of VAT) if the amount exceeds EUR
300, as indicated below:
Hammer price + buyer’s premium Payment Rate
(ex. VAT)
300 50.000
euro 5%
50.000 200.000
euro 3%
200.000 350.000
euro 1%
350.000 500.000
euro 0.5%
over 500.000 euro 0.25%
The Copydan fee cannot exceed EUR 12,500 (ex. of VAT)
for each item. The fee must be paid in Danish kroner, and
the conversion rate (EUR/DKK) is set by Copydan Visual Arts.
7.1.4 Debit/Credit Card Fee: Amounts Added to the Hammer Price:
BRK reserves the right to charge the debit/credit card fees
imposed by the payment services companies. The rates will
appear when bidding on bruunrasmussen.
dk and at the time
of payment.
8 PAYMENT DEADLINE
8.1 The purchase price falls due after the hammer price has
been determined, and then the buyer has eight days to pay
BRK the purchase price.
9 PAYMENT METHODS
9.1 The payment can be made in the following ways:
A: With debit/credit card (Dankort, Visa, MasterCard,
Diners Club, China UnionPay and JCB) or cash (up to
DKK 50,000) in the saleroom or subsequently at one of
BRK’s locations.
B: With debit/credit card (Dankort, Visa, MasterCard,
Diners Club and JCB) via BRK’s website on the buyer’s
personal page.
C: By bank transfer into BRK’s account with Danske Bank:
4183 4310970638 · Swift/BIC: DABADKKK · IBAN:
DK4130004310970638.
10 VAT EXEMPTION, PAYMENT & DEPOSIT
10.1 Some buyers can choose which type of VAT should apply
to the transaction. The choice has to be communicated to
BRK no later than two working days after the purchase and
cannot be changed subsequently.
A: Businesses in Denmark registered for VAT can decide
that the transaction is to be conducted in accordance
with the rules for full VAT, see paragraph 7.1.2.
B: Businesses registered for VAT in another EU Member
State can be exempted from paying Danish VAT if it
can be proved that the item has been transported to the
foreign address that the buyer has registered with BRK
and which is written on the invoice. In such cases, the
VAT should be settled according to the rules applicable
in the country where the buyer is registered for VAT.
It is advisable to consult with the local authorities. The
buyer can decide not to be exempt from regular VAT
and instead pay Danish VAT on secondhand
goods/
full VAT.
C: Buyers residing outside the EU can be exempted from
Danish VAT if it can be proved that the item has been
transported out of the EU. To the extent possible and
for a fee, BRK can issue the necessary export documents
for the customs authorities. The buyer may
decide not to be exempt from regular VAT and instead
pay Danish VAT on secondhand
goods/full VAT.
10.2 Companies registered for VAT in another EU Member State
and buyers residing outside the EU must deposit the Danish
VAT on the amount invoiced with BRK until the export
process has been completed in a documented, lawful
fashion. If the export is undertaken by one of BRK’s
authorized forwarding agents, the VAT does not have to
be deposited. See the list of authorized forwarding agents
on bruunrasmussen.
dk.
11 OVERDUE PAYMENTS
11.1 If payment is made after a deadline, including the deadline
specified in paragraph 8, interest on overdue payments will
be charged and estimated in accordance with the Danish
Central Bank’s official lending rate + 8% per year on the
amount due.
11.2 If the purchase price, including interest, has still not been
paid ten days after the demand for payment has been
made, BRK is entitled to seek the purchase price paid by
making a setoff
against the deposit/by drawing on the
bank guarantee or to cancel the purchase.
11.3 If the purchase is cancelled, BRK is entitled to sell the item
at a new auction and demand the costs and any difference
between the new and the earlier hammer price (including
the buyer’s premium) covered by the defaulting buyer.
11.4 In addition to debt collection, BRK may seek recovery of all
due claims (including costs) not paid in a timely manner in
the following ways:
A: Making the buyer cover the costs of selling items
consigned to auction by or on behalf of the buyer.
The sale can be conducted without regard to an agreed
reserve price. Items consigned for auction cannot be
collected as long as overdue debts are unpaid.
B: Seizing the buyer’s remaining balance with BRK,
inclu ding the balance from the sale of items consigned
by or on behalf of the buyer, regardless of whether such
receivables derive from auction sales prior to or after
the date of the buyer’s default on the payment.
12 PICK-UP & COLLECTION
12.1 The title to a purchased item passes to the buyer when the
full purchase price, including any interest and fees, has been
BRUUN RASMUSSEN COIN AUCTION 874
paid, and only then can the collection of an item take place.
12.2 In connection with the collection of a purchased item, BRK
reserves the right to demand satisfactory documentation
that the person who wants to pick up the item is either the
buyer himself/herself or authorized by the buyer to receive
the item on his/her behalf.
12.3 The collection of certain weapons requires presentation of
a valid weapons certificate. Items with such requirements
are listed with the text: “The purchase of this item requires
the presentation of a valid weapons certificate” in the
catalogue and on bruunrasmussen.
dk.
12.4 Purchased items are stored after the auction at the buyer’s
expense and risk. Pickup
must take place no later than
eight working days after the last auction day.
12.5 If the item(s) is/are not picked up on time, the purchased
items will be transported to a warehouse at the buyer’s risk
and expense. The transport costs are DKK 150 including
VAT per item and the storage costs are DKK 150 including
VAT per item for each week or part of a week. If an item
is left unclaimed for an amount of time that results in the
storage costs exceeding the value of the item, BRK will be
entitled to, at the buyer’s expense and risk and without
regard to the reserve price, sell the item at an auction or
privately. The buyer is still liable for the costs of transportation
and storage not covered by such sale.
13 SHIPPING
13.1 If the buyer is unable to pick up the purchased item,
BRK offers to pack and arrange delivery either by mail or
by freight forwarder at the buyer’s risk and expense.
See paragraph 12.2 regarding identification.
14 EXPORT LICENSE
14.1 To ensure that Danish cultural heritage of vital importance
remains in Denmark, the Danish Cultural Assets Commission
can place an export ban on certain items. If the buyer
wishes to export an item that is subject to an export ban
in Denmark, the purchase will be cancelled and the Danish
Cultural Assets Commission is obliged to acquire ownership
of the item for the price obtained at auction. The buyer
cannot raise any claims against BRK as a result of an export
ban.
14.2 Certain items are included in the Washington Convention,
also known as CITES. The purpose of CITES is to stop the
trade of items made with endangered species and flora. If
the item is included in the Washington Convention, CITES,
Appendix 1, this will appear in the description of the item
on bruunrasmussen.
dk and be marked with the symbol
”” in the catalogue. The following rules are applicable:
A: Items that are included in the Washington Convention,
CITES, Appendix 1, can only be traded when a
dispensation in the form of a CITES certificate has been
obtained. BRK obtains the required certificate from the
Danish Nature Agency that allows trade and export
to countries within the EU. Items that were produced
before 1947 can, however, be freely traded within the
EU without a certificate.
B: It is only items included in the Washington Convention,
CITES, Appendix 1 that are marked individually on
bruunrasmussen.
dk and in our catalogue. Items included
in the Washington Convention, CITES, Appendix 2,
which can be freely sold and transported within the EU,
are not individually marked.
C: Export to countries outside the EU must, regardless
of the year of the item’s production, always procure a
CITES reexport
permit from the Danish Nature Agency
if the item is included in the Washington Convention,
Appendix 1 and 2. This export permit can usually be
obtained without problems, if the item is either sold
with a CITES certificate or was made prior to 1947.
Appendix 2 items usually also receive a reexport
permit
without problems.
D: In connection with export to other countries outside
the EU, special rules may apply concerning the subsequent
import, and the buyer is encouraged to consult
the relevant local authorities about this issue.
15 DEFECTS IN THE PURCHASED ITEMS
15.1 The lack of conformity rules of the Danish Sale of Goods
Act may apply. Below is a nonexhaustive
excerpt of the
buyer’s remedies in regard to lack of conformity.
15.2 The buyer is entitled to cancel a purchase if the description
contained significant errors that have led to a higher hammer
price than a correct description would have resulted in. In
such cases, the total purchase price will be refunded. The
buyer cannot demand payment of interest on the purchase
price or demand payment of any other expenses or losses.
15.3 A purchase cannot be cancelled and the buyer cannot
demand a refund of the purchase price or raise any other
claims against BRK if the description of the item is in
compliance with paragraph 15.2. The same applies if
evidence of forgery has required the use of scientific
methods that were either not available at the time of sale,
were excessively costly to use or led to the damage of the
item in question.
15.4 Claims for a cancellation of a purchase must be notified to
BRK when the buyer has discovered the fact that entitles
the buyer to cancel the purchase. This notice, however, has
to be given no later than two years after the final pickup
date according to paragraph 12.4. The item purchased
must be returned to BRK in the same condition as it was
on the day it was sold at auction. If these conditions are
not met, the buyer loses the right to cancel the purchase
and cannot claim a refund of the purchase price. The buyer
is responsible for paying the costs associated with the
return of the item.
16 OBJECTIONS & LIMITATIONS OF LIABILITY
16.1 BRK is aware that errors, technical difficulties and external
abuse or disruptive influences may occur during the auction.
Bidders cannot raise any claims against BRK as a result of
such events.
16.2 The buyer is always responsible for the correct payment of
VAT and other costs, fees etc. in accordance with Danish
and foreign regulations.
16.3 Unless otherwise stated in these conditions of purchase,
BRK may never be held liable for bidders’/buyers’ operating
loss, loss of profits, other indirect losses or consequential
loss.
17 PRIVACY POLICY
17.1 It is important to BRK to ensure confidentiality and
security regarding the bidder’s/buyer’s personal information.
The privacy policy can be found on bruunrasmussen.
dk.
18 COMPLAINTS, DISPUTE RESOLUTION
AND APPLICABLE LAW
18.1 BRK can always be contacted if the bidder/buyer has a
complaint.
18.2 If the bidder/buyer 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 bidder/buyer can complain to the Complaint
Resolution Centre on forbrug.dk.
18.3 In Denmark, disputes must be brought before the City Court
of Copenhagen, but see paragraphs 18.2. The mandatory
rules on jurisdiction apply to consumer interests.
Jesper Bruun Rasmussen, Auctioneer
The above is an English translation of the Danish version of the
Conditions of Purchase. In case of a dispute, only the Danish version
of the present Conditions of Purchase of Bruun Rasmussen is valid.
Rev. 10.17