How to sell at an online auction

Conditions of Sale on Online Auction

1. STOCKHOLM AUKTIONSVERK’S COMMITMENT

Stockholms Auktionsverk undertakes as the commission agent to sell items submitted by the seller at the auction on the following terms and conditions. Stockholms Auktionsverk has the right to sell items submitted on the auction date that in Stockholms Auktionsverk’s view will provide the best result or that it finds most appropriate for any other reason.

2. SUBMISSION ETC

2.1 The seller is liable for ensuring that he/she has full and unrestricted right of ownership to the items that he/she has submitted to Stockholms Auktionsverk for sale or, if the item is owned by a third party, that he/she has full and unrestricted right to sell the item and to receive payment for this object.

2.2 If the seller does not own the item that he/she submits for sale, he/she must verify in writing his/her right to sell the item. Stockholms Auktionsverk will not have any liability however to check the seller’s authority to sell the item unless it has particular reason to do so.

2.3 As soon as Stockholms Auktionsverk has decided to take on the sale of the item, a written sales agreement shall be entered into between Stockholms Auktionsverk and the seller.

2.4 Stockholms Auktionsverk reserves the right unilaterally and without any right of compensation to the seller to withdraw from the selling assignment of a certain item if any doubt arises in regard to the item’s authenticity, right of ownership to the item or other matters that Stockholms Auktionsverk considers to be significant.

2.5 Revocation of the selling instructions must be made in writing. The seller does not have the right in any circumstance to revoke the selling instructions later than three days before the item is planned to be shown to the public without the consent of Stockholms Auktionsverk. If the seller revokes the selling instructions, he/she shall compensate Stockholms Auktionsverk for the costs of handling and valuing the item etc. for a sum equivalent to the sales charges in accordance with clause 4.1.

2.6 All transport of items to and from Stockholms Auktionsverk take place at the seller’s cost and for the seller’s risk.

3. CATALOGUING

3.1 Stockholms Auktionsverk has full and unrestricted right to determine how the item shall be described and whether the item shall be pictured on the website.

3.2 All photographs will remain the property of Stockholms Auktionsverk and can also be used, without specific payment, for other purposes that are not connected with the sale of the item.

4. SALES CHARGES

4.1 For each auction item a sales commission of 15% including VAT is charged on the hammer price together with a fixed charge of SEK 150 including VAT.

5. STORAGE AND INSURANCE

5.1 Submitted items are insured by Stockholms Auktionsverk from the time of their submission against damage in connection with a break-in, fire or water damage, and against theft or breakage for a maximum value equivalent to the estimate unless a specific agreement on a different insurance value has been entered into.

5.2 Stockholms Auktionsverk will be responsible for ensuring that submitted items are stored in a satisfactory and secure manner.

5.3 Stockholms Auktionsverk cannot be held liable for damage to mirror glass or frames or for natural changes in living material such as fading of paper and cracks in wood or wear and tear in connection with display of the item.

5.4 Stockholms Auktionsverk is not liable for compensation to the seller for any damage in excess of the insurance value for submitted items in accordance with clause 5.1 above.

5.5 Stockholms Auktionsverk’s liability for submitted items is limited to that stated in these terms and conditions.

6. RESERVE INSTRUCTIONS

6.1 The seller has the right to state that a submitted item is not sold for less than a specific price if the estimate is minimum SEK 2 000. The reserve price can be maximum 80 % of the estimate. The reserve price, which must be approved by Stockholms Auktionsverk, shall be confirmed in the sales agreement or in writing at a later date by arrangement with Stockholms Auktionsverk.

6.2 If an item does not achieve its reserve price, the item will be returned to the seller.

6.3 Stockholms Auktionsverk has the right to sell an item for less than the reserve price provided that the seller receives a minimum sum that is equal to the price that would have been achieved if the item had been sold at its reserve price.

7 ACCOUNTING

7.1 After the auction the seller will receive a written preliminary statement of the auction result..

8. PAYMENT

8.1 Payment will be made to the seller 25 bank days after the end of the auction provided that full payment has been received from the buyer, provided that no claim/complaint has been made and provided that the cancellation right has not been used. If the purchaser’s cancellation period has not expired at the time of the regular payment, the payment to the seller will be delayed  until 3 bank days after the cancellation period has expired.

8.2 If the buyer has used the cancellation right within the cancellation period the sale is cancelled and the item will be submitted on auction once again with unchanged selling conditions.

8.3 If the purchaser has not made full payment at the time for payment according to clause 8.1, or if the purchaser has made a complaint, the sale is cancelled unless the seller and Stockholms Auktionsverk agree to continue to demand payment. Stockholms Auktionsverk is under no obligation to take action against the purchaser unless a separate agreement has been made with the seller concerning this.

8.4 If the seller has an overdue debt to Stockholms Auktionsverk, Stockholms Auktionsverk has the right to offset any such debt against any payment due to the seller.

9 UNSOLD ITEMS

9.1 If an item is not sold and unless otherwise agreed, Stockholms Auktionsverk has the right to resell the item at auction again without prior notice. If the item has already been auctioned three times, Stockholms Auktionsverk has the right to publish the item three more times. Items that are not to be resold must be picked up no later than 5 days after the auction.

9.2 If an item is not collected by the deadline according to clause 9.1, Stockholms Auktionsverk will have the right re-auction the item without a reserve price, or, if the item is submitted with a reserve price of SEK 1 000 or less, to give the item to welfare.

9.3 If the seller has an overdue debt to Stockholms Auktionsverk, Stockholms Auktionsverk has the right to retain the unsold item as security for the seller’s payment of such a debt.

9.4 In the event of the seller’s failure to pay such an overdue debt owed to Stockholms Auktionsverk, or to collect unsold items in accordance with clause 9.1, Stockholms Auktionsverk has the right to take the following action:
i) To send the item for storage with a shipping/storage company of Stockholms Auktionsverk’s choosing. All transport and storage costs will be charged to the seller.
ii) To re-auction the item at the seller’s cost. Stockholms Auktionsverk has full and unrestricted right to determine the form of auction, the estimate and whether or not the item shall be given a reserve price. Stockholms Auktionsverk has the right to deduct from the sum received for the item all money owed by the seller to Stockholms Auktionsverk.

10 LIABILITY FOR FAULTS

If Stockholms Auktionsverk is liable to the purchaser in the event of any fault in the sold item, Stockholms Auktionsverk has the right to claim compensation from the seller equivalent to the payment that Stockholms Auktionsverk may have made to the purchaser in respect to the fault. The seller is in agreement with the general terms and conditions that Stockholms Auktionsverk applies in regard to buyers at auctions.

11. FORCE MAJEURE

Stockholms Auktionsverk is exempted from consequences arising from his failure to fulfill his obligations in accordance with this agreement if the failure is due to circumstances of the type stated below, and the circumstance prevents fulfillment or makes fulfillment at the right time significantly harder. Exempting circumstances shall be deemed to include acts of war, currency restrictions, transport shortages, fire, action by government or public authority, change in legislation, labour conflict, general shortage of goods, power restrictions, accident or similar circumstances therewith. If Stockholms Auktionsverk’s fulfillment of certain obligations is delayed by more than three months due to exempting circumstances, the seller will have the right to cancel the agreement in writing without any liability to pay compensation.

12 DISPUTES

Any dispute arising in regard to these terms and conditions shall be resolved in accordance with Swedish law at a court of law in Sweden.

These terms and conditions apply from 15-05-2015.