CONDITIONS OF SALE – Foal Auction
At the auction, foals registered with The Danish Warmblood Society shall be auctioned.
All bids shall be made in EURO.
The Danish Warmblood Society shall not be liable for the health and quality of the animals nor for the information submitted, as The Danish Warmblood Society merely organises the auction.
The Danish Warmblood Society shall not be deemed to be party to the transaction.
Foals, bought at Foal Auction shall have ”DWB” added to their name.
The suffix is a proprietary name of The Danish Warmblood Society. The Danish Warmblood Society shall pay for the addition of the suffix.
The Danish Warmblood Society reserves the right to change the original name of the horse, in the event that the added suffix means that the horse’s name takes up more than 2×15 digits.
The foal shall have been inspected with a view to auction and in accordance with the standards of The Danish Veterinary Association, no earlier than 14 days prior to the auction.
Prior to bidding at the auction and with the assistance of his own veterinary advisor, the buyer is encouraged to familiarise himself with the contents of the clinical veterinary inspection, which is available at the offices of the auction house.
Any potential claims on the part of the buyer based on veterinary circumstances, which ought to have been described in the clinical inspection of the horse with a view to auction, shall be of no consequence to the seller
and solely a matter between the buyer and the veterinary carrying out the inspection.
The buyer may only rescind the purchase in the event that the buyer is able to document that the horse is subject to defects that are not insignificant to the use or trade value of the horse.
In the event that the transaction is legitimately rescinded, in addition to demanding the return of the purchase price and the auctioneer’s commission in return for the return of the horse, the buyer shall only be entitled to make a claim for the costs of the care of the horse, veterinary consultations, farrier, insurance etc., to be compensated by an assessed sum of DKK 50.00/day, calculated from the date of the complaint until the
actual termination of the contract. In any case, a handling charge of DKK 3,000.- will be deducted from the eventually refunded auction expences. Any additional compensation for costs may only be claimed if evidence is provided that the seller has acted fraudulently or immorally.
On the fall of the hammer, the foal shall be deemed to be transferred to the buyer’s account and risk.
The buyer shall be obliged to take control of the purchased foal immediately on the fall of the hammer.
In the event that the purchased foal cannot be separated from the mare due to the age of the foal, the buyer shall be responsible for making further arrangements with the seller. The standard and guiding procedure for the physical transfer is that the buyer collects the foal from the seller when the foal reaches 5 – 6 months of age.
The individual bidding on behalf of another shall become liable as guarantor.
Several individuals bidding in concert shall become jointly liable.
The size of the lowest bid and advance bid shall be fixed by the auctioneer.
In the event that, on the fall of the hammer, there is any doubt as to whom is the highest bidder, or in the event that several individuals make simultaneous bids, a new announcement shall be made.
The auctioneer shall settle any disputes arising from the auction.
In the event that the buyer does not comply with the conditions of sale at auction, the auctioneer in charge may decide to put up the foal for auction again.
The first buyer shall then be liable to The Danish Warmblood Society and to the seller for any reduction in the auction price, however is not entitled to a potential excess price.
The bid plus the auction fee of 10 percent as well as Danish VAT of the purchase price and the costs shall be paid in cash on the fall of the hammer.
In the event that the purchase price and the costs are not paid in a timely manner, interest shall be calculated and added to the sum due at a yearly rate equivalent to Danmarks Nationalbank’s (“the Danish Central Bank’s”) official rate of discount plus 6 percent, until such time that payment is made.
The sale of Danish horses abroad (to non-EU countries) shall be invoiced inclusive of Danish VAT, as The Danish Warmblood Society cannot be certain that the horse will leave the country within a week. The buyer shall be responsible for applying for a VAT refund from the Danish tax authorities (“SKAT”).
Payment shall be made at the offices of the Society in legal and approved tender, such as cash, Visa, MasterCard or other approved means of payment. Any fees arising from the means of payment shall be added to the buyer’s costs of auction.
Payment by means of bank transfer will only be accepted by prior agreement with The Danish Warmblood Society.
Title in the sold animal shall only transfer to the buyer when payment has been made for the purchase price and the costs of auction.
Any other form of trade in foals put up for auction prior to or after announcement shall not be permitted in the course of the event in its entirety, notwithstanding the fact that the event may last several days.
In the event that a sale does take place, the seller shall be liable to pay the full fee of The Danish Warmblood Society.
Any dispute arising between the buyer and the seller, the buyer and The Danish Warmblood Society or the seller and The Danish Warmblood Society shall be settled pursuant to Danish law and in accordance with these conditions of sale at auction before the arbitration tribunal of Videncentret for Landbrug, SEGES, Agro Food Park 15, 8200 Aarhus N, Denmark, according to Videncentret’s ”general rules on equine arbitration” unless the parties specifically agree that ”the rules on extended equine arbitration” apply.
The Danish Warmblood Society reserves the right to make changes to the event. Any such changes shall be published as early as possible.
Dansk Varmblod / The Danish Warmblood Society