Conditions of Online Auction - buyer

 

1. The online auction excellencebymathy.auction is organized by Bayard SA, a public limited company with its registered office at 23 rue de Hassoumont, 4920 Remouchamps, Belgium.

2. Participating in this auction implies that these auction conditions are explicitly recognized and accepted without reservation.

3. Bayard SA sells horses via its sales platform on behalf of third parties. Bayard SA acts as an auction service. The auction committee mediates between the seller and the buyer. Buyers must register via the excellencebymathy.auction website before being allowed to participate in the online auction.

4. Horses and embryo are sold at auction in the condition they were in at the time of the auction.

5. The sale is carried out under Belgian law by means of an auction and is awarded to the highest bidder after payment of the settlement amount, with or without VAT. The auction is supervised by an auctioneer appointed by Bayard SA who will draw up an official report of the auction.

6. Bids and payments are made in EURO. The auction is conducted in the following bidding stages:

- From 2,500 Euros - 20,000 Euros per 500 Euros

- From 20.000 to 50.000 euros per 1.000 €, - From 50.000 euros to 1.000 € - 20.000 euros per 1.000 €.

- From 50.000 euros to 100.000 euros per 2.000 €, - From 100.000 euros per 2.000 €, - From 100.000 euros per 2.000 €, - From 100.000 euros per 2.000 €.

 

7. The website will indicate an indicative closing time for the auction per specific lot. If, however, a bid is made in the last 5 minutes before the closing time of a lot, the auction time for that specific lot will automatically be extended by 5 minutes. The extended time will become the new indicative closing time.

8. In addition to the award price, the buyer shall pay the Seller a percentage of 10% (excluding VAT) of the award price as a commission and for mediation of the auction costs. The Seller will issue an invoice to the buyer for these services, the amount of which must be promptly transferred to the Seller's account, prior to delivery of the horse to the buyer.

9. At the auction, a horse is awarded to the highest bidder. Payment of the sale price by the buyer is calculated as follows: the award price + 10% of the award price as buyer's commission = net price, plus any VAT that may be due, which constitutes the total settlement amount.

By bidding, the bidder agrees to pay the settlement amount, unless a higher bid is subsequently made.

10. The settlement amount is due immediately upon award. Each purchaser has the possibility of taking out insurance for the horse or embryo he has just acquired. It is therefore advisable to contact the Bayard SA as soon as possible.

11. All responsibility for horses sold at auction is transferred to the buyer immediately after the award. After the auction AND payment, the buyer and seller will make arrangements for delivery in mutual consultation. Delivery must take place within 30 days after the auction. After these 30 days, the seller is entitled to charge a stable fee to the buyer. The legal relationship exists directly between the buyer and the seller, it being understood that the seller is liable to the buyer, to the express exclusion of the auctioneer, for any defects that a horse may have after the auction.

12. The ownership of the embryo is transferred to the buyer at the moment the buyer makes the payment due to the Seller. A deposit of 3000 euros + 10% VAT will be requested as a guarantee for the surrogate. The deposit will be returned to you upon return of the surrogate to Ridderstraat 41, 3440 Zoutleeuw Belgium. 

13. Neither the seller nor the buyer shall derive any rights from the fact that the auction organization has selected the horse and, if applicable, subjected the horse to a veterinary examination at its request.

14. The information provided on the products is exclusively intended to give an impression of the qualities of the products without claiming to be complete and without offering any guarantee. For the description of a lot in its catalog, Bayard SA is purely guided by the information on this lot provided by the seller or a third party. Bayard SA is not responsible for printing and/or material errors on its website and online catalog as well as in videos.

15. Unless otherwise agreed between the buyer and the seller after the auction and forwarded to Bayard SA, the horse will be collected from the seller at the buyer's expense. Delivery will only take place after full payment to the Seller as defined in Article 9 of these auction conditions. Upon delivery of the horse, the "Proof of Delivery" form will be completed and signed by the buyer.

16. In the event of export of a horse, the Buyer shall submit valid shipping documents within 3 months of the auction, under penalty of forfeiture of a penal sum consisting of VAT.

17. In the event of an auction-related dispute between the seller and the buyer, the Auction Committee will attempt to mediate the dispute. If one of the parties considers that no solution has been found, the courts of Liège, Belgium, shall have exclusive jurisdiction. For the relationship between the seller and the buyer, the Belgian law applies.

18. Any dispute arising from this auction and its consequences shall be exclusively governed by Belgian law to the exclusion of the provisions of the Vienna Sales Treaty concerning international purchases/sales. The courts of Liège, Belgium shall have exclusive jurisdiction to hear any dispute.

19. In the event of a dispute, only the French text shall be deemed authentic. The translation of these auction conditions into another language is purely informative.

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