Terms of the Auction

Terms of the SSHS auction the 28th of  October 2017

General terms
1. Buyers and Sellers who participate in the auction October 28, 2017 (below the Auction), conducted by Swedish Select Horse Sales AB (SSHS), are obliged to follow these terms.

2. Seller refers to the owner of a horse that is consigned to be sold at the Auction.

Examination of the object
3. All horses consigned to be sold at the Auction have been examined by a veterinarian and x-rayed for export and are sold as is. The statements from the veterinarian regarding radiographs and examinations will be available for the Buyer before the Auction.

The Seller urges the Buyer to examine the horse consigned to be sold at the Auction, before the Auction begins. The Seller, or a representative appointed by the Seller, will answer questions regarding the horse prior to the Auction.

Estimates
4. The estimates are given in Swedish Kronor (SEK).

5. The Buyers will be informed during the Auction, before each horse is sold, whether the Seller of that horse is a private person or a company. The hammer price is subject to VAT (25%) if the Seller is a company.

Bidding
6. The bidding begins at 70 000 (SEK).

7. Bids should be made by indicating with paddles or by some other clear sign, or in a clear voice, and should be raised by sums appropriate to the current bidding level. The auctioneer or caller may decide by how much a bid has to be raised to be considered as a new bid. When the hammer falls, the highest bidder will be deemed to have entered into a binding purchase agreement.

8. If bids are equal, the auctioneer or caller will decide which is successful. The auctioneer or caller may ignore any bids made and decide whether the bidding is to be resumed if there is any uncertainty as to the last bid made.

Payment
9. The horses are sold subject to a Buyer’s premium of 10 % on the hammer price. VAT will be added to the Buyer’s premium. Payment of the Buyer’s premium, including VAT, must be made to SSHS within 10 (ten) business days from the day of the Auction. In case the payment has not been made within 10 (ten) business days, SSHS may claim late interest at the appropriate discount rate plus 8 % of the amount.

10. Payment of the hammer price shall be made directly to the Seller within 4 (four) business days from the day of the Auction, i.e November 2, 2017 at the latest, unless otherwise provided by a written agreement between the Seller and the Buyer. In case the payment has not been made within 4 (four) business days, the Seller may demand that the purchase be completed and claim late interest at the appropriate discount rate plus 8 % of the amount.

Transfer of risk and Collection
11. The buyer may collect the horse bought at the Auction after the Auction is finished and the payment has been made. Awaiting collection, the horse may remain in the stables for four days from the day of the auction, at the owner’s expense. The risk transfers to the Buyer at the moment the horse leaves the stall during collection, but no later than 96 hours after the Auction is finished.

Ownership
12. The ownership of a horse bought at the Auction transfers to the Buyer when full payment has been made to the Seller.

Miscellaneous
13. The Seller of a horse that has been consigned to be sold at the Auction is liable for any information he has given SSHS about the horse and is fully liable for possible faults and damages on the horse. The Buyer, on the other hand, accepts that any claims related to the purchase shall be made to the Seller and not to SSHS. Complaints about possible faults shall be made to the Seller no later than a week from the moment the Buyer discovered, or should have discovered, the fault.

Offers from SSHS’ business partners
14. Insurance for a consigned horse can be arranged for during the Auction through the insurance company Agria.

Disputes
15. Any dispute owing to the Auction shall be referred to a Swedish County Court and will be decided in accordance with Swedish law.

These conditions are a translation of the Swedish language. In case of dispute only the original Swedish version is binding.