Conditions of Purchase For Artland Auctions

These Conditions of Purchase represent Artland's conditions of purchase at Artland Auctions. By bidding at an Artland Auction or entering into an agreement concerning the purchase of an item at an Artland Auction, the Bidder/Buyer accepts to be bound by the current Conditions of Purchase as they appear on Artland.com. Artland may modify the conditions of purchase at any time.

These Conditions of Purchase are valid from 1 January 2023.

BEFORE THE AUCTION

1. Registration as Bidder

1.1 To be able to submit a bid at an Artland Auction, the Bidder must be registered. In connection with the registration, the Bidder must provide contact information, see section 5.1. The Bidder is obliged to notify Artland of any changes in the Bidder's contact information.

1.2 In connection with the registration, the Bidder must provide credit card information. The Bidder warrants that the information is accurate and that the Bidder is authorized to use the payment method provided. Payment can be made with the following credit/ debit cards: Dankort, Visa, MasterCard, AMEX and Maestro. The Bidder is obliged to notify Artland of any changes in the Bidder's debit/credit card information.

1.3 Upon finishing the registration, the Bidder is given a personal customer number and password. The Bidder is not allowed to share his/hers customer number and password with any third parties.

2. Price and Valuation of Items

2.1 All the offered items are valued by Artland. The valued price is an estimate based on the information provided by the Seller, previous sales of similar items, Artland's past experience and the expected hammer price. Hence, the hammer price can be higher or lower than the valued price.

2.2 Items up for auction may have a reserve price that has been agreed upon with the Seller, below which the item cannot be sold. The reserve price is made publicly available on Artland and sets the starting point for the bidding round at the auction.

3. Description of Items

3.1 Items up for auction are presented with photographs and descriptions provided by Artland. The descriptions are solely based on detailed information supplied by the Seller and are always made to the best of Artlands's knowledge.

3.2 All items sold at Artland Auction is of such age and nature that they will often be in a worn, repaired or damaged condition. Hence, every item is by default sold as a quality used item or the equivalent. For this reason, the descriptions in the catalogue or at Artland.com do not include statements regarding the condition of the items. The descriptions serve only as a means of identification.

3.3 The Seller or Artland may choose to describe an item's origin. Such a description can be provided if a former owner is publicly known or if the story of previous ownership sheds further light on the background and history of the item

DURING THE AUCTION

4. Bidding

4.1 Before a bid can be submitted at an Auction, the Bidder has to register. After the registration, the Bidder will be able to submit bids by providing his or her customer number and personal password.

4.2 The currency used at Artland Auctions is Euro, GBP, USD and Canadian USD. 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 automatically bid for the Bidder and ensure as favorable a hammer price as possible while never bidding above the maximum amount set by the Bidder. The Bidder will always be asked to confirm the bid before it is registered.

4.3 The hammer price refers both to the end of the bidding round for an item and to the price the item is sold for, see section 6 regarding Adds and Fees Added to the Hammer Price.

4.4 If a bid is submitted within two minutes of the expected end of a bidding round at an 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.

4.5. The Bidder who submits the highest bid and obtains the hammer price becomes the Buyer. When the hammer price is determined, a binding purchase/sales agreement is entered based on these Conditions of Purchase. If the highest bid at the close of an auction does not meet the reserve price, but the winning bidder's maximum bid is higher than the reserve price, Artland reserves the right to automatically increase the bid to meet the reserve price. The winning bidder will be notified via email of their successful bid and the updated bid amount. By placing a bid in such an auction, bidders acknowledge and agree to this automatic bid increase policy.

4.6 If bids are given on behalf of others, the Bidder serves as surety for the transaction.

4.7 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 Artland or the Seller as a result of this, see section 14.1.

4.8 Artland and the Seller 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 Artland or the Seller.

AFTER THE AUCTION

5. VAT and Fees Added to the Hammer Price

5.1 In addition to the hammer price, see section 5.3, the Buyer pays a "Buyer's Premium" for each individual item purchased at an auction. Furthermore, the Buyer will in some cases be obliged to pay full VAT as well as a royalty fee for each individual item purchased. The total amount that the Buyer pays to Artland is referred to as the "Purchase Price".

5.2 Buyer's Premium: Buyer's Premium is a fee that is to be paid to Artland. The fee consists of 12% of the hammer price + VAT, meaning that the fee consists of 15% of the hammer price in total

5.3 Full VAT: Certain items are sold at Artland Auctions in accordance with the current rules regarding full VAT. Such items are marked at the auction or in the printed catalogue with the symbol "*" or with the text: "This item is subject to full VAT". If an item is sold in accordance with current legislation regarding full VAT, a rate of 25% is imposed on both the hammer price and the Buyer's Premium.

5.4 Royalty Fee: In accordance with Danish copyright law, a Royalty Fee covering the Artist's Resale Right has to be charged for works by newer Danish artists, and some foreign artists, who are either alive or have not been dead for more than 70 years. Such items are marked at the auction with "This item is subject to Artist's Resale Right". The Royalty Fee for the Artist's Resale Right is charged on behalf of VISDA (Visual Rights Denmark).

The Royalty Fee covering the Artist's Resale Right is added to the full hammer price as well as the Buyer's Premium (excluding VAT) if this amount exceeds EUR 300, as indicated below. The Royalty Fee covering the Artist's Resale Right cannot exceed EUR 12,500 (excl. VAT) for each item.

5.5 Any debit/credit card fee imposed on the transaction by the payment services companies will be covered by Artland.

6. VAT Exemption

6.1 Some Buyers are entitled to choose which type of VAT should be applied to the transaction. Artland must be notified of the Buyer's choice no later than two (2) working days after the purchase. The choice cannot be changed subsequently.

6.1.1 Businesses registered for VAT in Denmark can decide that the transaction is to be conducted in accordance with the rules for full VAT, see section 5.3.

6.1.2 Businesses registered for VAT in another EU Member State can be exempted from paying Danish VAT, if it is documented that the item has been transported to the foreign address which has been registered with Artland and 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. Artland recommends all Buyers 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.

6.1.3 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. The Buyer may decide not to be exempt from regular VAT and instead pay Danish VAT on second-hand goods/full VAT.

6.1.4 If items are located outside Denmark, they will be shipped directly from the Seller to the Buyer. In such cases, VAT should be settled according to the rules applicable in the country where the Seller and Buyer are residing.

7. Payment

7.1 Upon registering as a Bidder, see section 1.2, the Buyer authorises Artland to automatically charge the Purchase Price should the Buyer succeed in obtaining the hammer price, see section 5.5, and thus enter into a purchase agreement with the Seller.

7.2 The Purchase Price falls due after the hammer price has been determined. Artland will charge the Purchase Price from the Buyers chosen credit/debit card within 12 hours after the bidding round has ended.

8. Overdue Payment

8.1 If Artland is not able to charge the Purchase Price, see section 8.2, Artland will notify the Buyer thereof. The Buyer must ensure the payment immediately upon receiving the notification from Artland and no later than 24 hours after receiving the notification. Artland or the Seller is entitled to cancel the sale should the Buyer fail to pay the Purchase Price within the timeframe stipulated.

9. Collection of the Purchased Item

9.1 The ownership of a purchased item passes to the Buyer, and hence can be collected by the Buyer, from the moment the full Purchase Price, including any interest, has been paid to Artland.

9.2 The collection takes place where the artwork is located. The Location of the purchased item can be found in the description of the item.

9.3 The collection must take place no later than seven (7) days after the date of the auction. If the Buyer refuses to collect or fails to collect item within the date stipulated, the Seller is entitled to cancel the sale or sell the item to a third party at the Buyers expense.

9.4 Any arrangements in regard to the transportation of the purchased items is to be made between the Seller and the Buyer. The risk and all costs associated with the transport of the purchased item is borne by the Buyer.

9.5 In connection with the collection of a purchased item, Artland and the Seller reserves the right to demand documentation proving that the person collecting the item is either the Buyer himself/herself or a person authorized by the Buyer to collect the item.

9.6 In accordance with current anti-money laundering rules, the Buyer must be able to provide personal information as well as a photo ID to Artland and the Seller prior to the collection of the purchased item.

10. Export License

10.1 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 will be obliged to acquire ownership of the item for the price obtained at auction. The Buyer cannot raise any claims against Artland or the Seller as a result of an export ban.

10.2 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. The following rules are applicable:

10.2.1 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. Artland 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.

10.2.2 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.

10.2.3 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.

10.2.4 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.

11. Private Buyers' Right of Withdrawal

11.1 A Buyer who acts as a private consumer, is entitled to cancel the purchase no later than fourteen (14) days after the Buyer or a third party designated by the Buyer has received the purchased item, without providing any reasons.

11.2 To exercise the right of withdrawal, the Buyer must provide Artland and the Seller with an unambiguous statement that the Buyer wishes to cancel the purchase. This can be done by letter or email. The right of withdrawal can only be invoked if the Buyer sends the message before the expiry of the deadline for withdrawal, see section 12.1.

11.3 The Buyer must return the purchased item to the Seller at the location where it was collected without any undue delay and no later than fourteen (14) days after the date when the Buyer informed Artland and the Seller of the Buyer's wish to exercise the right of withdrawal. The Buyer must cover all costs relating to the return of the purchased item. The Buyer is liable for any depreciation of the item&s value due to improper handling.

11.4 If the Buyer exercises the right of withdrawal, Artland and the Seller will refund all payments received from the Buyer no later than fourteen (14) days from the date where the Seller receives the item back, see section 12.3. Artland or the Seller completes the reimbursement to the same debit/credit card that the Buyer used for the initial transaction unless the Buyer has requested otherwise. In any case, the Buyer will not incur any further fees as a result of the reimbursement.

12. Lack of Conformity

Lack of conformity rules of the Danish Sale of Goods Acts applies to the transaction. Below is a non-exhaustive excerpt of the Buyer's remedies in regards to lack of conformity.

12.1 The Buyer is entitled to cancel a purchase if the description contains significant errors that have led to a higher hammer price than a correct description would have resulted in. In such cases, the 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.

12.2 A purchase cannot be canceled and the Buyer cannot demand a refund of the Purchase Price or raise any other claims against Artland or the Seller if the description of the item did not led to a higher hammer price than a correct description would have resulted in, see section 13.2. The same applies if evidence of forgery or lack of conformity in general, 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.

12.3 Any notice of lack of conformity shall be submitted immediately upon the Buyer's discovery of the lack of conformity that entitles the Buyer to cancel the purchase, but no later than two (2) years from the date of collection of the purchased item.

12.4 The item purchased must be returned to the Seller in the same condition as 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.

13. Limitations on Liability

13.1 The Bidder is aware that errors, technical difficulties and external abuse or disruptive influences may occur during the auction. The Bidder cannot raise any claims against Artland as a result of such events.

13.2 The Buyer is always responsible for the correct payment of VAT and other costs, fees etc. in accordance with Danish and foreign regulations.

13.3 Unless otherwise stated in these Conditions of Purchase, Artland can never be held liable for a Bidder's/Buyer's operating loss, loss of profits, other indirect losses or consequential loss.

14. Privacy policy

14.1 It is important to Artland to ensure confidentiality and security regarding the Bidder's/Buyer's personal information. Hence, all information is stored in accordance with Artland's Privacy Policy. Artland's Privacy Policy can be found on Artland.com.

15. Complaints, Dispute Resolution and Applicable Law

15.1 Artland's customer service can always be contacted via email: support@artland.com should the Seller wish to make a complaint.

15.2 If a dispute cannot be resolved, the Seller can submit a complaint to the Complaint Resolution Centre, Nævnenes Hus, Toldboden 2, 8800 Viborg, Denmark, email: nh@naevneneshus.dk. Sellers residing in another EU country than Denmark can submit their complaint to the European Commission's Online Dispute Resolution platform via the website: http://ec.europa.eu/odr.

15.3 Any dispute that may arise between the Seller and Artland which cannot be resolved amicably, including disputes concerning the interpretation or validity of these Conditions of Sale, is subject to Danish law.

15.4 In Denmark, disputes must be brought before the City Court of Copenhagen. The mandatory rules on jurisdiction apply to consumer interests.