Wristwatches

Conditions of Purchase - Online Auctions Here you can find our new conditions of purchase that apply to purchases at all online auctions per 1 February 2017. The conditions of purchase terms include a number of new paragraphs, for instance in relation to debit/credit card fees, VAT and storage. These conditions of purchase represent Bruun Rasmussen Kunstauktioner's ("BRK") conditions of purchase for online 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 bruun-rasmussen.dk. The conditions of purchase are applicable for both business owners and consumers. BEFORE THE AUCTION 1 Registration as Bidder 1.1 Before a bid can be submitted at the online auctions held by BRK, the bidder has to register on bruun-rasmussen.dk. In connection with the registration, the bidder must provide contact information and debit/credit card information, see paragraph 6.1. The bidder is required to make sure that this information is always up to date. In connection with the registration process, the bidder is given a customer number and a personal password. 2 Valuation of Items 2.1 All the offered items are valued by BRK. The valuation is an estimate based on the expected hammer price, see paragraph 6.3. 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. 3 Description of Items 3.1 Items up for auction are presented with photographs and descriptions in catalogues and on bruun-rasmussen.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. 3.2 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. The description of the item's condition at bruun-rasmussen.dk is made to the best of BRK's knowledge, but it is not based on scientific studies. The description serves only as a means of identification and as an aid to bidders who are not able to inspect the item at the preview, see paragraph 4.1. 3.3 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. 4 Preview 4.1 Items up for auction are presented prior to the auction in one of BRK's showrooms. Potential bidders are encouraged to inspect the item closely and are personally responsible for verifying the condition of the item at these previews, where the bidders also have the opportunity to consult with the valuation experts. DURING THE AUCTION 5 The Role of BRK 5.1 The sale of an item is facilitated by BRK on behalf of the seller, and BRK always sells an item up for auction to the highest price given during the bidding round. 5.2 Items up for auction can have a minimum price that has been agreed upon with the seller, and the item cannot be sold below this price. This price is made publicly available on bruun-rasmussen.dk and sets the starting point for the bidding round at the online auction. 6 Bidding 6.1 Before a bid can be submitted at an online auction, the bidder has to register his or her debit/credit card information via the personal page on bruun-rasmussen.dk. After the registration, the bidder will be able to submit bids by providing his or her customer number and personal password. 6.2 The currency used while the auction takes place is Danish kroner. All bids are submitted as maximum bids. It means that the bid indicates the maximum amount that the bidder intends to bid. The system will then automatically bid for the bidder and ensure as favourable a hammer price as possible and never bid above the maximum amount set by the bidder. To avoid errors, the bidder is asked to confirm the bid before it is registered. 6.3 The hammer price refers both to the end of the bidding round for an item and to the price (bidding amount) the item is sold for. See paragraph 7 regarding amounts added to the hammer price. If a bid is submitted within two minutes of the expected end of a bidding round at an online auction, then the bidding round is extended by two minutes after the latest bid has been submitted. These two-minute extensions will continue until no bid is submitted within the two-minute extension. 6.4 The buyer is the bidder who submits the highest bid, thereby obtaining the hammer price. At the moment the hammer price is determined, a binding purchase/sales agreement is entered into based on these conditions of purchase. 6.5 If bids are given on behalf of others, the bidder serves as surety for the transaction. 6.6 If a bid is submitted just before the end of the bidding round, there is a risk that the bid will not be registered in time and therefore not be eligible. The bidder cannot raise any claim against BRK as a result of this. See paragraph 16.1. 6.7 BRK can 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. AFTER THE AUCTION 7 Amounts Added to the Hammer Price 7.1 In addition to the hammer price, see paragraph 6.3, 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 online auctions, the fee consists of 20% of the hammer price + VAT of the fee, 25% in total. 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 bruun-rasmussen.dk with the symbol "*", or with the text: 'This item is subject to full VAT'. 7.1.3 Royalty Fee: In accordance with the Danish copyright law, royalty fees have to be charged for works by newer 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 bruun-rasmussen.dk. The Copydan fee is added to the hammer price + buyer's premium (exclusive of VAT) if the amount exceeds EUR 300, as indicated below: Hammer price + buyer's premium (excluding VAT) Payment Rate 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 (excl. VAT) for the individual 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 BRK retains the right to collect the debit/credit card fees imposed by the payment services companies. The rates will appear when bidding on bruun-rasmussen.dk and at payment. 8 Payment 8.1 The purchase price falls due after the hammer price has been determined. Approximately 12 hours after the bidding round has ended, the purchase price will be charged automatically to the buyer's credit/debit card. The buyer will automatically receive an e-mail with an invoice and details concerning pick-up, delivery and deadlines. 8.2 Payment can be made with the following credit/debit cards: Dankort, Visa, MasterCard, Maestro, Diners Club and JCB. 8.3 The bidder is required to update his or her debit/credit card information, including information about the expiration date, cancellation or loss of card. The bidder may change or delete the information on bruun-rasmussen.dk at any time. 9 VAT Exemption, Payment and Deposit 9.1 Some buyers can choose which type of VAT should be applied 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. 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. 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 second-hand goods/full VAT. 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 second-hand 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 bruun-rasmussen.dk. 10 Overdue Payments 10.1 If it is not possible for BRK to charge the purchase price to the buyer's credit/debit card after the bidding round has ended, see paragraph 8.1, BRK will inform the buyer and present a request for payment. An interest on overdue payment will be charged and estimated in accordance with the Danish Central Bank's official lending rate + 8 % per year of the amount due. 10.2 If the purchase price, including interest, is still not paid ten days after the demand for this has been presented, BRK is entitled to cancel the purchase. 11.2 Pick-up and Collection 11.1 The title to a purchased item passes to the buyer when the full purchase price, including any interest and fees, has been paid, and only then can the collection of an item take place. 11.2 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. 11.3 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 bruun-rasmussen.dk. 11.4 The pick-up must take place no later than on the Tuesday of the week after the sale. If this is a public holiday, the pick-up must occur on the next working day. 11.5 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. 12 Shipping 12.1 If the buyer is unable to pick up the purchased items+, 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. 13 Export License 13.1 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. 13.2 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 bruun-rasmussen.dk and be marked with the symbol ''' in the catalogue. The following rules are applicable: 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. It is only items included in the Washington Convention, CITES, Appendix 1 that are marked individually on bruun-rasmussen.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. Export to countries outside the EU must, regardless of the year of the item's production, always procure a CITES re-export 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 re-export permit without problems. 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. 14 Right of Withdrawal ' Only for Private Buyers 14.1 Without providing any reasons, the buyer is entitled to cancel the purchase 14 days at the latest after the buyer has received the purchased item. 14.2 To exercise the right of withdrawal, the buyer must provide BRK with an unambiguous statement that the buyer wishes to cancel the purchase. This can be done by letter or e-mail. 14.3 The right of withdrawal can be claimed if the buyer sends the message before the expiry of the deadline for withdrawal. 14.4 If the buyer exercises the right of withdrawal, BRK will refund all payments received from the buyer no later than 14 days from the date when BRK has received the information about the buyer's decision to cancel the purchase. This includes shipping costs, as long as the buyer cancels the entire purchase and the shipment was booked directly with BRK. BRK completes the reimbursement to the same debit/credit card that the buyer used for the initial transaction, unless the buyer has expressly requested otherwise. In any case, the buyer will not incur any further fees as a result of the reimbursement. 14.5 The buyer must return the item or deliver it to BRK at the location where it was on display during the preview without any undue delay and no later than 14 days after the date when the buyer informed BRK of the exercise of the right of withdrawal. 14.6 The buyer must cover the costs relating to the return of the purchase. The buyer is liable for any depreciation in the item's value as a result of improper handling. 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 non-exhaustive 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 pick-up 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 and Limitations on 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 bruun-rasmussen.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, 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 and 18.4. The mandatory rules on jurisdiction apply to consumer interests. Jesper Bruun Rasmussen, auctioneer Bruun Rasmussen Auctioneers A/S Sundkrogsgade 30, 2150 Nordhavn, Copenhagen ' DK Tel. +45 88 18 11 11, info@bruun-rasmussen.dk 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.