Eerik’s Auction House – General Terms of Purchase 1.1.2019

Scope and language

These General Terms of Purchase (“hereinafter “Terms”) are applicable in the live and online auctions organized by Eerik´s Huutokauppatalo Oy / Eerik’s Auction House (“Auction House”) between the participant / bidder / registered user (“Customer”) and the Auction House.

The terms and conditions that apply solely to Online or Live auctions are announced separately.

In case of conflict between different language versions of the Terms, the Finnish version takes precedence.

Definitions and refinements

“Online auction” means an auction that takes place on the Auction House website and to which bids can be left at the Auction House office and through technical means. Auctioning through technical means means submitting bids on an online platform, in an application, by telephone and email, or in any other way other than through participation by submitting bids at the Auction House office.

“Live auction” means an auction to which Customers may take part in an auction event, by submitting bids at the Auction House office and also through technical means provided by the Auction House.

The terms applied to the “Customer” also apply to the “Buyer” defined below.

The auction, starting bid and increments

The Auction House operates on behalf of the seller. The Auction House determines the starting bid and the price estimates for the items. The Auction House may agree upon a reserve price for the items with the seller.

The starting bid means the minimum bid for an item. After the starting bid, the bids are given in accordance with the Auction House's current increment table. Higher bids are allowed. The price estimate is an indicative estimate of the actual market price of the item defined by the experts of the Auction House. The price estimate does not constitute a prediction of the actual hammer price.

Description and condition of items

The Auction House catalogs the items and lists information about the items in a catalog ("Description"). The Description includes images taken of the item, the description text, and other information and reproductions provided of the item. The Auction House reserves the right to alter the Description at any time. Any possible changes to the Description will be announced in Live auctions before the auction of such item. In Online auctions, information of alterations will be emailed to Customers who have submitted bids for such item.

Items are sold in the condition they are in at the time of sale.

The Description is provided only for identification purposes. The Customer has the responsibility to carefully inspect the item before submitting bids. The Auction House will be liable for errors in the Description only if they are due to the Auction House’s gross negligence. The Auction House is not responsible for any anomalies or damages that are not apparent from the Description. The Auction House is not liable for any damage resulting from natural wear, scratching or natural changes in the material of the items (such as cracking or bending of the wood). The Auction House is also not responsible for the fastening of the canvases, the condition of the frames, stains, yellowing or other similar damage. The Auction House gives no warranty on the functionality of timepieces or technical items unless stated in the Description.

Bids – general

All bids are binding. By submitting a bid, the Customer agrees to the Terms.

In Live auctions, the highest bid given at the time of the strike of the hammer wins. In Online auctions, the highest bid registered in the system at the moment of closing wins.

The Auction House reserves the right to reject a bid, to call for bid renewal and to call for reasonable bid increments. If two or more equal bids are given, the Auction House will select which is winning at the time. The Auction House solves all discrepancies or ambiguities that arise at its auctions exclusively and finally.

Bids with the paddle number

The Customer must obtain a paddle number to submit bids in the auction event. By acquiring the paddle number, the Customer accepts the Terms. Each Customer may only have one paddle number. The Auction House reserves the right to decide whether or not to issue a paddle number and can cancel the validity of any paddle number at any time. The Auction House may also assign special terms or limitations to a paddle number and a Customer, for example, but not limited to, specifying a euro-denominated limit for the bids submitted by the Customer.

Bids shall be submitted by raising the paddle or by otherwise giving a clear sign for the broker. The Customer must, on request, show the broker their paddle number in order to assure the correct registration of bids and winners.

Bids in writing

The Customer may submit a written bid to the Auction House no later than 3 hours before the beginning of the auction event. The written bid is binding and may not be altered or canceled after submission. When submitting a written bid, the Customer shall provide the Auction House with the following information:

- Customer's name, address and telephone number and sufficient information to verify the identity of the Customer
- Titles and lot numbers of the items and bids submitted to each item

The Auction House is not responsible for any loss or damage resulting from technical reasons or errors made in registering the written bids.

Telephone bids

The Customer may request to participate in an auction event by telephone by submitting a request to the Auction House one day prior to the auction event at the latest. The Customer must notify the Auction House in writing of their telephone number, the titles, and lot numbers of the items to which they wish to submit their offers. The Customer agrees separately with the Auction House of the procedure used in the telephone bidding.

The Customer agrees to submit a bid equalling the starting bid of the item for all of the items the Customer wishes to submit bids to by telephone.

The Auction House is not responsible for any loss or damage resulting from technical reasons or errors made in registering the bids. In addition, the Auction House is not liable for any loss or damage resulting from the Customer's failure to answer the telephone, neglecting to call, or the necessity to prioritize other offers.

Online bids and registration

The Customer may submit bids online by registering on the Auction House website or in the mobile application of the Auction House. By registering, the Customer accepts the Terms. Registering valid credit card information is a prerequisite for submitting bids online.

All online bids are binding and cannot be altered or canceled after submission.

Hammer prices

Final hammer prices will be available on the Auction House website and office at the latest on the first business day following the end of the auction event.

Auction fee and VAT

In addition to the hammer price, the Customer winning an item (“Buyer”) must pay an auction fee for each item as well as the VAT for the auction fee payable on each item. The auction fee is 15% + VAT.

The Buyer must pay the auction fee and VAT also for products imported from outside the EU. A Buyer who is a company can claim the VAT refund of such an item from the Finnish customs, if the item is transported outside the EU. VAT shall not be charged on non-Finnish companies in EU countries, or from non-EU Buyers.

Resale remuneration (droit de suite)

For works for which the copyright protection period is in force, a resale remuneration is charged. The protection period extends 70 years after the death of the author.

The Buyer shall pay the resale remuneration to the Auction House. The Auction House will account the remuneration to the resale right administrator Kuvasto ry. However, there is no such obligation if the hammer price for the item falls below 255 €. For a single work, the resale remuneration may not exceed 12,500 €.

Resale remuneration is calculated from the sales price excluding VAT as follows:

Selling price €                  Resale % of the price
< 50,000                           € 5%
50,000 - 200,000             € 3%
200,000 - 350,000           € 1%
350,000 - 500,000           € 0.5%
> 500,000                         € 0.25%

Items, for which the resale remuneration is payable are marked with * in the Description.

Export of cultural objects

The Act on Restrictions to the Export of Cultural Objects (933/2016), Council Regulation (EC) No 116/2009 and Commission Implementing Regulation (EU) No 1081/2012 contain provisions on the licensing procedure for the export of cultural goods.

The Buyer is responsible for obtaining the necessary export licenses. The Auction House is not responsible for any damages or losses due to failure to obtain an export license, delay in obtaining the license or other reason concerning the export license or acquiring it.

Reclamation

The Customer must submit a written complaint to the Auction House without delay after detecting a defect, however, no later than one month after the end of the auction. The time limit applies even if the product has not been collected.

The items sold at Online and Live auctions can be viewed and reviewed and bids to the items can be submitted at the Auction House office. Due to the fact that participation is possible also through other than technical means, the Buyer has no right of exchange or return under the Consumer Protection Act (20.1.1978 / 38).

Liability

The Auction House's liability is limited to the reimbursement of the total amount of payments made by the Buyer to the Auction House. This includes the hammer price, the VAT, and the portion of the resale remuneration, and other possible fees paid to the Auction House. The Auction House is not liable for any indirect or direct damages to the Customer.

Payment

Items must be paid within five (5) business days of the end of the auction event. For security reasons, the Auction House does not accept cash payments if the total amount of purchases (including the auction fee, VAT and resale remuneration) exceed 1,000 € in a single auction event.

In case of non-payment after the above mentioned time limit, the Auction House reserves the right to:

  • Enforce the contract, insist on payment and claim interest according to the Interest Act (20.8.1982/633)
  • Terminate the purchase or consignment agreement
  • Charge a storage fee and store the item as the Auction House sees fit
  • Transport and store the item on the Buyer's risk and expense using third-party services
  • Re-auction the item on behalf of the Buyer. The Auction House strives to inform the Buyer beforehand of such re-auctioning. In such a situation, the Auction House will determine the starting bid, a possible reserve price, and the time and manner of auctioning. The proceeds from the sale of the item shall primarily satisfy the Auction House’s claims against the Buyer. Funds may also be used to satisfy other remaining debts of the Buyer. If the proceeds from the sale of the item are not sufficient to cover the Buyer's debt, the difference will remain as the Buyer's debt towards the Auction House.

Collection

The items will be handed over to the Buyer after all payments related to the item are fully paid in cash or the payment has reached the Auction House bank account. The Buyer must retrieve items from the Auction House office or from the location specified in the Description within 10 business days of the end of the auction. Due to the limited storage space, the Auction House will charge the Purchaser a storage fee of 5 € for each weekday exceeding this time limit.

If the item has not been collected one month after the auction ends, the Auction House has the right to dispose of the item as it sees fit, store it at the risk and expense of the Customer, or re-auction the item under the conditions set exclusively by the Auction House.

Photography and reproductions

The Auction House photographs and makes reproductions of the items on sale. The Auction House owns all of the photographs and reproductions of the item and can use the material without restriction, for example, for marketing and for purposes unrelated to a single auction event. The sale of items does not affect these rights. The unauthorized use of photographs, reproductions and documents made or procured by the Auction House is prohibited. In case of unauthorized use of such rights or documents, a single-time contractual penalty of 500€ per item shall be charged.

Credit check

The Auction House has the right to verify the Customer's ability to pay. The ability to pay can be verified by making a credit check or by any other means considered appropriate by the Auction House.

Personal data

The Auction House uses personal data in accordance with the Personal Data Act (523/1999) and the EU General Data Protection Regulation. Certain services can only be used after registration to the service. The Auction House collects certain personal information from all of its Customers as a prerequisite for the use of the services provided by the Auction House.

Personal data is stored in the Auction House's personal data register and is used for the following purposes:

  • The organization, marketing, and management of auctions
  • For the creation of market and customer analyzes
  • Maintaining customer relationships

Data can be supplemented with information available from private and public sources. Personal data may, for the above-mentioned purposes, be transferred to a company in the same company group as the Auction House. Upon request, the Customer has the possibility to check their personal data in the personal data register, and to delete, correct or supplement their personal data. The data check is free once per the calendar year.

For further information on the use of personal data please read the Eerik’s privacy policy.

Revision

The Auction House reserves the right to revise the Terms at any time.

Registered users will be notified of the changes to the Terms by email.

Governing law and dispute resolution

These Terms are governed by Finnish law.

Disputes arising from the Terms shall be settled in the District Court of Turku.