How to sell at a hammer auction

TERMS OF SALE FOR LIVE AUCTIONS

N.B. This is an unofficial translation of the original Swedish version.
In case of discrepancies, the Swedish version shall prevail.

COMMITMENT OF STOCKHOLMS AUKTIONSVERK

Stockholms Auktionsverk undertakes to act as commissioner to sell items submitted by the Seller at live auction according to the terms and conditions stated below. Stockholms Auktionsverk is entitled to sell submitted items at the auction opportunity that according to Stockholms Auktionsverk’s estimation will yield the best result, or which for any other reason is deemed as most appropriate.

2. SUBMISSION OF ITEMS

2.1 The Seller is responsible for ensuring full and unrestricted ownership of items submitted to Stockholms Auktionsverk for sale at live auction, or if an item is owned by a third party, the Seller shall ensure his or her full and unrestricted right to sell and collect proceeds for the item in question.

2.2 If a submitted item is owned by a third party other than the Seller, it is the duty of the Seller to inform Stockholms Auktionsverk of the legal ownership of the item and to be able to present, upon request, written documents certifying the Seller’s right to represent all owners in the sale of that item. Stockholms Auktionsverk is not under obligation, unless for specified cause, to independently verify the Seller’s right to sell the item.

2.3 The Seller, or person submitting an item, is obliged to inform Stockholms Auktionsverk of known defects and deficiencies of the item.

2.4 A written sales agreement shall be entered into by Stockholms Auktionsverk and the Seller immediately or shortly following Stockholms Auktionsverk’s acceptance of the commission to sell the item.

2.5 Stockholms Auktionsverk reserves the right to unilaterally and without obligation of compensation to the Seller withdraw from the sales agreement if doubt should arise as to the authenticity, right of ownership or other any information about the item that Stockholms Auktionsverk deems significant.

2.6 Revocation of the sales agreement must be submitted in writing. The Seller does not have the right, under any circumstance other than by exception granted by Stockholms Auktionsverk, to revoke the assignment later than three days before public viewing. Should the Seller revoke the sales agreement, the Seller shall compensate Stockholms Auktionsverk for any costs for handling, valuation or related measures, with an amount equivalent to sales fees in accordance with article 4.1, based on the estimated price.

2.7 A transport of items to and from Stockholms Auktionsverk’s premises are at the sole risk and full expense of the Seller.

3. CATALOGING

3.1 Stockholms Auktionsverk has the full and unrestricted right to formulate the written description of items for publication, as well as how items are illustrated and presented in photographic reproductions and on the internet.

3.2 All photographs and reproductions of submitted items are the property of Stockholms Auktionsverk, and may also be used by Stockholms Auktionsverk, without separate compensation, for purposes other than pertaining to the sale of the item.

4. SALES FEES

4.1 A commission fee of 15 % including VAT of the final sale price of each item, plus a fixed charge of SEK 350 including VAT for photography, are payable to Stockholms Auktionsverk.

4.2 An insurance fee of 1.25 % including VAT of the final sale price for each submitted item is payable to Stockholms Auktionsverk.

5. STORAGE AND INSURANCE

5.1 Upon receipt by Stockholms Auktionsverk, submitted items are insured by Stockholms Auktionsverk for harm or loss due to burglary, fire or water damage, theft, or breakage for a maximum value equivalent to the estimated price after deduction for sales fees, unless a separate agreement on a different insurance value has been reached between Stockholms Auktionsverk and the Seller.

5.2 Stockholms Auktionsverk is responsible for the secure and responsible storage of submitted items.

5.3 Stockholms Auktionsverk does not assume responsibility for, and cannot be held liable for, damages to protective glass or frames, or for natural alterations in living materials such as discolouration or fading of paper, development of cracks and fissures in wood, or wear related to viewing and exhibition.

5.4 Stockholms Auktionsverk is not liable for compensation to the Seller for any damage in excess of the insured value for submitted items according to article 5.1 above.

5.5 Stockholms Auktionsverk reserves the right to repair damages to an item rather than pay a compensatory sum to the Seller, if Stockholms Auktionsverk deems it appropriate to do so.

5.6 The responsibility of Stockholms Auktionsverk for items submitted is limited to the provisions specified in these terms and conditions.

6. RESERVE PRICE

6.1 The Seller has the right to ensure that a submitted item is not sold for less than a chosen fixed price. The reserve price may not exceed the estimated price. If the estimated price is given in intervals, the reserve price may not exceed the lowest estimated price in the interval. The agreed reserve price must be approved by Stockholms Auktionsverk and confirmed in the sales agreement, or in writing at a later date in agreement with Stockholms Auktionsverk.

6.2 If an item does not achieve its reserve price or if the auction closes with no bids, the item shall revert to the Seller.

6.3 Stockholms Auktionsverk reserves the right to sell the item for less than the reserve price, provided that the Seller receives payment equal to the reserve price originally assigned.

7. ACCOUNTING

Following the close of the auction, the Seller shall receive a complete preliminary accounting of the auction results.

8. PAYMENT

8.1 Payment shall be made to the Seller 25 (twenty-five) business days after the close of the auction, pending receipt of full payment from the Buyer, and provided that the Buyer has not submitted any complaint.

8.2 If the Buyer has not paid in full within the time frame as specified in article 8.1, or if the Buyer has submitted a complaint, the sale shall be cancelled unless the Seller and Stockholms Auktionsverk agree to continue to demand payment from the Buyer. Stockholms Auktionsverk is under no obligation to take legal action against the Buyer unless a separate agreement to do so has been reached between Stockholms Auktionsverk and the Seller.

8.3 If the Seller has any existing debt in arrears to Stockholms Auktionsverk, Stockholms Auktionsverk reserves the right to deduct the sum of the debt from the final sale amount paid to the Seller.

9. UNSOLD ITEMS

9.1 If an item does not meet the reserve price and therefore reverts to the Seller, the item must be submitted for resale in writing by the Seller or be collected within 5 (five) business days following the close of the auction.

9.2 Items not collected in time in accordance with article 9.1 will incur a storage fee of SEK 50 including VAT, per item and per calendar day. Furniture and other sizeable items will incur a doubled storage fee.

9.3 If the Seller has any existing debt in arrears to Stockholms Auktionsverk, Stockholms Auktionsverk reserves the right to withhold the unsold item as security against the Seller’s payment of such debt.

9.4 If the Seller fails to pay a debt owed to Stockholms Auktionsverk or fails to collect the unsold item within 5 (five) business days following the latest completed auction, Stockholms Auktionsverk reserves the right to deliver any unclaimed item to storage facilities of a shipping company of their choice. All transport and storage costs shall be billed to the Seller.

9.5 Stockholms Auktionsverk reserves the right to sell items which have not been collected by the Seller in accordance with regulations of Swedish law (1985:982) citing the right of business traders to sell unclaimed items. Proceeds from such sale shall firstly cover storage and shipping costs, and thereafter cover overdue arrears to Stockholms Auktionsverk owed by the Seller. Any surplus thereafter shall be paid to the Seller.

10. LIABILITY FOR DEFECTS

10.1 The Seller is responsible for the authenticity of the item. Should the item, in the opinion of Stockholms Auktionsverk, constitute a forgery, be suspected to be associated with money laundering or financing of terrorist activity, or is deemed to be the object of theft or restitution, Stockholms Auktionsverk has the right to refund the Buyer and thereafter claim a corresponding compensation from the Seller. Police authorities will be informed should a submitted item raise questions of forgery.

10.2 In the case that Stockholms Auktionsverk is held responsible to the Buyer for faults or defects in sold items, Stockholms Auktionsverk has the right to claim compensation from the Seller equivalent to any compensation Stockholms Auktionsverk may have paid the Buyer in respect of the defect. The Seller is in full understanding of the general terms and conditions adhered to by Stockholms Auktionsverk regarding Buyers at auctions.

11. PERSONAL DATA

11.1 Personal data, such as name, address, social security number, telephone number and e-mail address, provided by the Seller in connection with Stockholms Auktionsverk’s services or otherwise within the framework of a contractual relationship with Stockholms Auktionsverk, is used for the administration and fulfilment of Stockholms Auktionsverk’s obligations regarding online and live auctions, in order to provide good service and to fulfil its obligations under law. The provided personal data may be updated and supplemented from private and public records.

11.2 Personal data may, for the above-mentioned purposes, be disclosed to Stockholms Auktionsverk’s parent company (Auction Network Sweden AB, organisation number 556859-5150, Grev Turegatan 44, 114 38 Stockholm).

12.3 The Seller has the right, upon written request, to receive written information about what personal data Stockholms Auktionsverk has registered and how this data is used. The Seller also has the right to request that Stockholms Auktionsverk correct or delete incorrect information pertaining to the Seller.

11.4 The Seller shall inform Stockholms Auktionsverk of any changes to his or her registered personal data.

12. FORCE MAJEURE

Stockholms Auktionsverk is exempt from penalties for failure to fulfil any obligation arising from such circumstances as described below, and if that circumstance prevents or significantly obstructs the fulfilment of obligations within the time frame previously agreed. Grounds for exemption due to force majeure events include but are not limited to acts of war, foreign exchange restrictions, loss or shortage of transportation facilities or supplies, fire, acts of government or public authority, new or amended legislation, labour conflict, general shortage of goods, fuel shortage, and accidents or equivalent circumstances therewith. If Stockholms Auktionsverk fails within three months to fulfil an obligation due to extenuating circumstances, the Seller has the right to cancel the sales agreement in writing and without penalty.

13. GENERAL

13.1 If the Seller has acted as a consumer, the conditions specified in Swedish mandatory consumer legislation may apply in lieu of these general conditions, if and as far as the mandatory legislation indicates more favourable conditions for the Seller than the general conditions described above.

13.2 Any disputes arising out of or in connection with the agreements above shall be settled in accordance with Swedish law in general court in Sweden with the Stockholm District Court as the first instance.

13.3 In any dispute in which the parties are unable to reach agreement, the Seller, if acting as a consumer and is an EU resident, may turn to The National Board for Consumer Disputes (Allmänna reklamationsnämnden, or ARN) in Sweden, at www.arn.se, or by post to Allmänna reklamationsnämnden, Box 174, 101 23 Stockholm. The Seller may also turn to the European Online Dispute Resolution (ODR) platform available at the website of the European Commission, https://ec.europa.eu/consumers/odr.

These terms and conditions apply from 3 June 2023.