Mar 23, 2020
Online Arabian Horse Auction : terms and conditions of auction and of sale
1. The online auction shall be organised by the non-profit organisation ‘Prestige’ with registered office at 8972 KROMBEKE (Belgium), Coeyaardstraat 3, enterprise identification number 0501.520.781, hereinafter referred to as “Prestige”.
2. These terms and conditions of auction and of sale, hereinafter referred to as “Conditions”, shall apply to each use of Prestige’s auction website and to each auction organised by Prestige.
3. In order to participate in an auction both seller and buyer/bidder shall register in advance on the site www.arabian-horse.auction. By signing the registration form the seller and the buyer/bidder explicitly state that they have read the Conditions, that they understand and accept these and that they have a copy of the Conditions.
4. The Conditions and, where appropriate, the purchase contract shall constitute the integral agreement between the seller and the buyer/bidder, hereinafter referred to as the “Agreement”. The Agreement shall reflect what the seller and buyer/bidder wholly and exclusively agreed upon. All other oral and/or written agreements, communications, offers, proposals or exchange of letters between the parties shall explicitly be excluded from the Agreement.
5. Prestige shall only offer an auction service and shall not at any time be a party to this Agreement, nor shall it ever commit itself in any way on behalf and/or on account of the seller or the buyer/bidder.
6. Before offering a lot for sale on an auction site the seller shall pay an entry fee of 150,00 EUR to Prestige.
7. The seller shall commit himself to submit professional photos and videos at least 8 weeks prior to the beginning of the respective auction. The description of a lot offered for sale, hereinafter referred to as the “Lot”, shall be made on the basis of the information that is provided to the best of the seller’s knowledge. Prestige itself shall have no knowledge of the Lot that is offered for sale, nor shall it have knowledge of any possible (restrictive) rights of third parties, encumbrances or attachments related to the Lot.
8. When the seller has offered the Lot for sale to Prestige the Lot may under no circumstances be sold prior to the auction and this under penalty of a fine of 3.000,00 EUR.
9. Each Lot shall be auctioned in its present condition at the moment of the auction.
10. Each bid shall be deemed to have been made in the bidder’s own name and on his own behalf; by putting in a bid the buyer/bidder shall commit himself to the payment of the amount that was bid, hereinafter referred to as the “Allotment Amount”, unless a higher bid was made subsequently. Each bid and each payment shall only and exclusively be made in EURO.
11. Prior to each auction and per lot Prestige shall mention an indicative auction end time on its website. The closing time will automatically be extended for 5 minutes, if a higher bid was made for the respective lot within the last 5 minutes before the auction end time. As a result a new closing time shall be determined.
12. Seller and buyer/bidder know, acknowledge and accept the special circumstances and the (technical) inadequacies that can arise during an online auction and for which Prestige cannot give any guarantee and for which it cannot be held liable and/or responsible.
13. At the end of the auction each lot shall be allocated to the highest bidder, thereinafter referred to as the “Buyer”. The Allotment Amount is to be paid immediately.
14. A request for payment of the net price shall be handed over to the Buyer by Prestige. This net price shall consist of the Allotment Amount plus additional 5% for auction charges and, where appropriate, the applicable VAT.
15. A commission rate of 10% on the Allotment Amount shall be owed to Prestige by the Seller.
16. Upon receipt of full payment by the Buyer, Prestige shall transfer to the seller the amount to which the seller is entitled (see above).
17. If the seller is subject to VAT, he shall provide an invoice to the Buyer.
18. In the event that the seller repurchases the lot from the Buyer at a lower price than or at a price equal to 2.500,00 EUR, the seller shall not owe any commission rate to Prestige. In the event that the seller repurchases the lot from the Buyer at a higher price than 2.500,00 EUR, the seller shall owe to Prestige a commission rate of 5% on the repurchase price plus another 5% on the repurchase price for auction charges.
19. The ownership of the lot shall pass to the Buyer upon receipt of his payment to Prestige.
20. The lot can only be collected by the Buyer at the Seller’s upon receipt of full payment to both the Seller and Prestige. The modalities of collecting shall be determined directly between the seller and the Buyer. Transport and delivery charges, however, shall be borne entirely by the Buyer.
21. Prestige’s liability towards seller, Buyer and bidder shall be limited to what has been set out in the Conditions and shall in any case always be limited to the value of the respective lot.
22. Prestige shall not be responsible or liable for any possible typing or printing error on its website and/or online catalogue.
23. Nor shall Prestige guarantee the correctness of the bidder’s/Buyer’s identity. Prestige shall not be responsible for determining the identity and, where appropriate, for checking the correctness of the identity. Nor shall Prestige be liable in case of non-payment by the Buyer.
24. Any discussion and/or dispute between seller and Buyer/bidder shall be settled exclusively between them. Prestige can and shall not intervene.
25. For all legal relationships between Buyer/bidder and/or seller and/or Prestige, only Belgian law shall apply, with the explicit exclusion of the Vienna Sales Convention.
26. Any dispute arising from, connected with or resulting from the legal relationships between the Buyer/bidder and/or seller and/or Prestige shall be subject to the exclusive jurisdiction of the courts of Ieper (Belgium).
27. The original Dutch text of these General Terms and Conditions shall prevail over any other version.
28. Any provision of these Conditions that is invalid, null and void or unenforceable due to a conflict with any mandatory legal provision or public order, shall nonetheless be allowed to have the maximum consequence allowed and shall not affect the application of the remainder of the Conditions.