Auction conditions

Foal auction Prinsjesdag 2024

General

1. Foal Auction Prinsjesdag BV (hereinafter: 'VP') will organize several auctions in 2024 (hereinafter: 'the Auction'). The auctions will take place under the supervision of a notary.
2. The relationship between VP and the seller is a contract of services.
3. These auction conditions apply to the relationship between VP and the seller and to the relationship between VP and the bidder/buyer. Both the seller and the bidder/buyer participate in the Auction entirely at their own expense and risk. VP is under no circumstances obliged to more or other obligations towards the seller and the bidder/buyer than those described in these auction conditions.
4. A purchase agreement is concluded exclusively between the seller and the bidder/buyer. The bidder/purchaser is, however, obliged to sign the written purchase agreement as referred to under 11. VP is not bound by any agreements between the seller and the bidder/buyer. Under no circumstances can VP be regarded as a seller or bidder/buyer.
5. All stipulations in these auction conditions are also made for the benefit of all those who work or were working for or on behalf of VP. The provisions in these auction conditions apply directly to these (legal) persons, as if they were VP themselves.
6. Participation in the auction is regarded as acceptance of these auction conditions. Any conditions used by a seller or bidder/buyer are hereby expressly rejected.

Auction

7. VP or a selection committee composed by VP examines and selects the embryos/foals that are eligible to participate in the Auction. VP/the selection committee is hereby authorized, but not obliged, to seek advice from third parties. VP/the selection committee has the right at any time to refuse the participation of a foal or foals in the Auction on the grounds of (physical) defects, as well as for other reasons to be determined by VP/the selection committee, even if a foal or foals have already been the Auction has been selected. A participation decision by VP/the selection committee is binding. VP/the selection committee is/are never obliged to reimburse the costs incurred by the seller on any grounds whatsoever.
8. The selected foals are sold immediately without action or reaction, in the condition they are in at the time of award, in order to be reared by the bidder/buyer into an adult horse. The foals are sold by auction. If no opening bid is made, the auctioneer is authorized to start with a reduced opening bid. The auctioneer has the right to change the order of the foals to be sold or to refuse persons as bidders/buyers without giving reasons.
9. Bidders/buyers are expected to be fully legally competent and of sound mind. Every bidder/buyer is deemed to have bid for himself and is bound by his bid until a higher bid has been definitively accepted. A bidder/buyer is fully liable, in addition to any principal, for failure to fulfill his obligations. A seller who buys back his foal is considered a bidder/buyer and all provisions in these auction conditions that concern bidders/buyers also apply to the seller referred to here.
10. Only upon delivery of the foal by the seller to the bidder/buyer, does the risk in respect of the foal pass from the seller to the bidder/buyer immediately.
11. The bidder/buyer will sign a written purchase agreement immediately after the award, showing identification. If the purchase agreement is not immediately presented to the bidder/buyer for signature, he must report to the VP secretariat immediately after the auction.

Information

12. VP has attempted to compile the catalog with selected foals for the Auction (hereinafter: the 'Catalogue') as accurately as possible. The information contained herein, including, but not limited to, the pedigrees, is aimed at giving an impression of the quality of the foals, without pretending to be complete.
13. It is the responsibility of the seller to check the accuracy of the information in the Catalog and to inform VP voor de Auction in writing of any errors/omissions and necessary changes/additions. The extent to which any changes/additions are included in the Catalog is at the discretion of VP.
14. Prior to the photo/video days, the seller is obliged to provide VP with a veterinary report at his expense, from a recognized veterinarian designated by him. The seller must provide the aforementioned report to VP prior to the photo/video days. During the aforementioned photo/video days as well as on the auction day (in the case of a physical auction) prior to the Auction, a veterinarian appointed by VP will be present who, on behalf of and at the risk of the seller, will inspect the registered foal and check the aforementioned veterinary report. A clinical examination will take place. If this veterinarian finds inaccuracies or omissions, he will attach his findings to the previously drawn up veterinary report. On the day of the Auction, the seller and bidder/buyer can view a copy of the veterinary report including any attached findings.
15. At VP's request, bidders/buyers are obliged to provide information regarding their financial solvency, substantiated by documents demonstrating this solvency.

Cost and payment

16. All rates and prices in these auction conditions are exclusive of VAT. VAT is charged on the purchase price and the commission amount.
17. The commission amount to be paid by the seller is determined on the basis of 12% excl. VAT. The minimum registration fee of €750 excl. VAT per foal and the minimum registration fee of €500 excl. for an embryo is payable by the seller to VP from the moment the seller has signed the contract.

18. foals; If the highest bid comes from the seller of a foal, he will not owe a buyer's commission up to and including € 7,000. If this bid is higher than €7,000, the seller owes both the buyer's commission and the seller's commission.

Embryos; If the highest bid comes from the seller of an embryo, he will owe an additional €500. If this bid is higher than € 10,000, the seller also owes the buyer's premium (buyer's commission), in accordance with the provisions of paragraph 20 and following of these conditions.

19. The seller must pay the minimum amount of registration fee to the bank account of Veulenveiling Prinsjesdag BV within 14 days after the invoice date, stating the invoice number. Only after receipt of the aforementioned amount, or proof of payment, will the seller and his foal(s) be admitted to the Auction.
20. The bidder/buyer must pay the purchase price, plus 12% premium excl. VAT on the purchase price, as soon as possible after receipt of the invoice. In euros without any discount or deduction.
21. If the buyer does not fulfill his obligations under paragraph 20, VP has the right to re-auction the foal/embryo, whereby the original buyer's bid will not be accepted. The original buyer is obliged to pay VP the difference between his bid and the lower purchase price at the second auction, as well as the associated costs. The buyer has no claims against VP if a higher proceeds are realized at the second auction.
22. Foal auction Prinsjesdag does not sell to sanctioned countries. Furthermore, Foal Auction Prinsjesdag is not liable for any resale to third parties in sanctioned countries.
23. Only commission agents recognized by VP who have indicated in writing to the secretariat of VP before the start of the auction that they are acting for one or more of the bidders/buyers can claim commission from a sales amount of € 22,000 excluding VAT per foal or embryo. This commission amounts to 5% excluding VAT on the entire purchase price. After signing the purchase contract, the commission agent will be equivalent to being a buyer and will be held to the obligations stated in these general terms and conditions and will be responsible for correct (financial) settlement. After the bidder/purchaser has fully fulfilled his (payment) obligations and the foal has been delivered to the buyer, VP owes the commission, no sooner than two weeks after delivery.
24. Payment to anyone other than VP does not release the seller or the buyer from its payment obligations towards VP. As long as VP has not received full payment from the buyer, the seller remains the owner of the foal.
25. If VP has not received full payment from the seller and/or buyer within 30 days of the auction, the seller and/or buyer will be in default by operation of law and will owe VP compensation in the amount of 12% over the purchase price, plus interest. of 1.5% per month on the total amount due, to be calculated from the auction until the time of full payment. All this without prejudice to VP's right to compliance and/or compensation.
26. If VP has not received full payment from the buyer within 30 days of the auction, VP is furthermore entitled to consider the sale as dissolved without notice of default on behalf of the seller and without his consent. In that case, the seller and the buyer remain obliged towards VP to fulfill all their payment obligations referred to in these auction conditions, insofar as these relate to compensation for the benefit of VP.
27. If the buyer or the seller fails to fulfill its (payment) obligations towards VP, all (extra)judicial costs incurred by VP will be borne by the buyer or the seller, with a minimum amount of € 1,000.
28. If there is a foal with a known defect for which a veterinarian appointed by VP has stated in writing that recovery (cure) is possible, the buyer is obliged to fulfill his obligations in accordance with the conditions in paragraphs 20 to 27. In the event of death or rejection of a foal by the aforementioned veterinarian, who makes a binding decision regarding the health condition of the foal, before the expiry of the period within which delivery should have taken place by the seller to the buyer, the purchase agreement is considered dissolved and the purchase price plus any VAT due will be refunded by VP. The registration fee and the buyer's premium will not be refunded by VP to the seller or the buyer respectively, or will remain owed to VP. With regard to the period(s) within which delivery of the aforementioned foal with defect must take place, reference is made to the provisions of sub 36.
29. If and only after all (payment) obligations towards VP have been met by both the seller and the buyer, VP will pay the purchase price to the seller no later than 10 days after delivery notification by the seller as referred to in sub 34. However, if the buyer reports a defect or stable vice to VP in accordance with the provisions of paragraphs 38 to 41, and a dispute arises about this, VP is not obliged to pay the seller nor to refund the buyer. VP is only obliged to make the said payment to the seller or the said refund to the buyer if and as soon as the aforementioned dispute (among other things) has been settled in accordance with the provisions of paragraphs 38 to 41 in favor of the seller or the buyer respectively.

Absence of foals at the Auction

30. A selected foal or embryo must participate in the Auction, failing which the seller must pay VP the costs it has incurred, with a minimum of €750 excl. VAT, as well as a compensation of €10,000. plus interest of 1.5% per month on the total owed, to be calculated from the date of the auction until the time of full payment. All this without prejudice to VP's right to compliance and/or compensation.
31. If, in the opinion of the seller, a foal will not be able to participate in the auction due to health reasons, this must be communicated to VP in a timely manner, in writing and with a description of the condition, after which VP has the right to have a veterinarian designated by it determine the nature of the condition. diagnose the condition. The veterinary decision in this regard is binding. If the seller does not or does not offer sufficient opportunity to examine the foal (in a timely manner), or if the foal has been approved by that veterinarian and nevertheless does not participate in the auction, the seller is the one referred to in sub 30. compensation plus costs incurred is owed to VP.

Delivery, removal and delivery of foals

32. Sellers are obliged to deliver their foal and mare to the auction site in good auction condition at a time to be specified by VP.
33. The seller delivers the foal/surrogate mare with embryo to the buyer by transferring possession to the address to be specified by the buyer within the Netherlands, taking into account what is determined in paragraphs 34 to 37. The costs of delivery are borne by the seller. . If the buyer and/or seller lives outside the Netherlands, delivery will take place in consultation between both parties. Costs for transport abroad are for the buyer. Delivery takes place within the terms stated in these auction conditions.
34. After the buyer has fulfilled his payment obligations (in accordance with the provisions of sub 20 or 22, thus payment to VP), VP reports the payment by the buyer to the seller as soon as possible. The seller must deliver the foal to the buyer after the payment has been reported by VP to the seller, within 7 days or in agreement with the buyer. The seller will notify VP in writing of the subsequent delivery as soon as possible by completing, signing and returning the proof of delivery form. An exception to this are the foals referred to in sub 35 and 36. Delivery thereof takes place in the manner stipulated under 35 and 36, whereby the aforementioned notification of delivery by the seller applies in full. Any delivery other than the aforementioned and otherwise stipulated in these auction conditions is entirely at the risk of the seller. Sellers must remove the foals, whether sold or not, from the auction site no later than three hours after the end of the auction. If the seller is in default, VP has the right to remove the foal from the auction site and store it elsewhere, whereby all costs reasonably incurred by and in VP's opinion will be for the account of the seller.
35. If a foal is not delivered to the buyer within 3 months after the Auction, due to facts/circumstances that are within the buyer's sphere of risk, the foal will be at the buyer's expense and risk from the next day.

The delivery period stated in this subsection can only be deviated from in exceptional cases and after the intervention of VP. A foal with a known defect as referred to in sub 28 remains at the expense and risk of the seller until the moment of delivery to the buyer, taking into account the provisions of sub 38.

36. Delivery to the buyer of a foal younger than 4.5 months on the risk transfer date stated in sub 34 must take place within 1 month after the time when the foal reaches that age. Delivery of a foal with a known defect as referred to in sub 28 to the buyer must, in the event of the recovery referred to in sub 28 and 38, be determined by the veterinary referred to in sub 28 and 38, within 1 month of recovery, but at the latest within 6 months after the auction.
37. In any case, the buyer can only dispose of the foal / embryo after he has fully complied with his (payment) obligations, including those towards VP, whereby he will receive the necessary documents.

Stable Virtues and Flaws

38. Sellers are obliged to deliver, auction and deliver their foals free of defects and stable vices and provide a corresponding guarantee. This guarantee does not cover the lack of OC and OCD in the foal and the presence of the wffs gene. If the law and/or jurisprudence about the relevant guarantee and/or its duration stipulate otherwise, the said mandatory other provision shall apply. If a foal is offered for sale with a defect known to both the seller and the buyer prior to the purchase, of which a veterinary designated by VP declares in writing that repair (cure) is possible, as referred to in sub 28, the seller assumes the obligation to keep the foal in his possession and to take care of recovery (healing), without this entailing extra costs for the buyer. Until the moment of delivery to the buyer, the foal remains at the expense and risk of the seller.
39. If the buyer discovers stable vices in the purchased foal, such as crib biting, weaving or air sucking, not being a known defect as referred to in sub 28, the buyer must notify the new owner of this in writing within 7 days after delivery to the new owner, describing the nature of the to inform stable vices. VP will then house the foal at a location to be determined by it, in order to have the foal examined by a veterinarian to be designated by it for the stable vices described by the buyer. The veterinarian in question determines the nature and severity of the stable vices in a binding manner. If, in the opinion of the veterinarian, there are stable vices described by the buyer, the seller must pay the relevant costs incurred, including those relating to the stable, transport and veterinary care, to VP. The buyer must pay the said costs to VP if, in the opinion of the veterinarian, there are no stable vices described by the buyer.
40. The provisions of sub 39 also apply if the buyer discovers defects in the purchased foal, other than a known defect referred to in sub 28 and other than stable vices referred to. The seller must immediately take back the foal at his own expense, in return for reimbursement of the purchase price, if the purchase is legally dissolved or annulled.
41. If the buyer does not report the aforementioned stable vices or (other) defects in the aforementioned manner within the aforementioned period of 7 days after delivery and/or if the aforementioned veterinary surgeon does not establish the stable vices or (other) defects, the buyer's right to cancel the purchase will lapse. rescind or invoke a lack of will, unless the law and/or jurisprudence stipulate otherwise.

 

Dissolution and destruction

42. If the purchase is legally dissolved or annulled by the seller or buyer, the seller and the buyer remain obliged to fulfill all their payment obligations towards VP referred to in these auction conditions, insofar as these relate to compensation for VP. The sale can be dissolved or annulled with due observance of the applicable legal provisions, insofar as this has not been legally deviated from in these auction conditions.

Liability

43. VP is not liable for the accuracy of the information in the catalogue, the information provided on the auction site and the information during the auction.
44. VP is not liable for the accuracy of the information contained in the veterinary report (including any attached (additional) findings), the veterinary information given at the auction site and the veterinary information during the auction.
45. VP is not liable for damage suffered by or to persons, goods or horses before, during or after the auction.
46. VP does not take out insurance for the horses for the benefit of the sellers and/or bidders/buyers. Since sellers participate in the auction entirely at their own expense and risk, VP advises sellers to take out the said insurance themselves.
47. In the event of death of the foal on the day of the auction, while the seller or buyer in question does not receive a payment on the basis of any insurance taken out themselves, VP will refund the registration fee to the seller in question or the commission to the buyer in question.
48. VP is not liable for shortcomings of third parties. This also includes the buyer's default.
49. VP excludes any liability, except in the event of intent or willful recklessness on the part of VP and/or those who work or were employed for or on behalf of VP.
50. Anyone who causes damage to goods and/or buildings of (or used by) VP and/or those who work or were employed by VP is liable for this damage.

Other

51. If, in connection with the transfer of auctioned foals to another Member State of the European Union, at the request of the buyer, the buyer is initially invoiced at the Dutch VAT rate, the buyer undertakes to fulfill all necessary conditions in order to realize a legally valid intra-Community transaction. Subsequently, the VAT zero rate will be applied and the VAT will be settled with the buyer.
52. If application of the zero VAT rate is not possible (in retrospect) due to whatever circumstance, the buyer will still owe an amount equal to the amount that would be due if the foal concerned was delivered domestically. At the request of VP, however, the buyer is obliged to immediately pay the aforementioned amount to VP. In that case, repayment thereof will only take place if the buyer has met the conditions of sub 51. The buyer indemnifies VP in any case against all damage resulting from failure to comply with the conditions of sub 51. In addition, the buyer is liable for all judicial and extrajudicial costs incurred by VP, with a minimum amount of € 1,000.
53. All costs, rates, commissions and fees are based on tax legislation in force on January 1, 2024. If the legislation changes at any time, VP is entitled to adjust all costs, rates, commissions and fees.

Conversion

54. If one or more of the provisions referred to in these auction conditions are or become invalid, the other provisions will remain in full force and effect. In that case, the aforementioned invalid provision will be replaced by a new provision, which corresponds as much as possible with the said old invalid provision as far as possible in terms of content, scope and purpose.

Disputes

55. If a difference of opinion arises during an award as to who made the last bid, or if other difficulties, ambiguities and disputes arise during bids and/or about the award, the

auctioneer is authorized to make a binding judgment on this matter. In the event of a difference of opinion regarding the last bid, the auctioneer is authorized to continue the sale by auction.

56. If the auctioneer requests the notary to make a decision, the notary will make a binding and irrevocable decision for all parties. During the auction, the civil-law notary is also authorized to adjudicate on disputes of a nature other than those relating to bids and awards.
57. The legal relationships between VP, the buyer and the seller are exclusively subject to Dutch law, to the complete exclusion of the Vienna Sales Convention (CISG). Disputes other than those that are subject to the judgment of the auctioneer or the notary pursuant to the provisions of subsections 55 and 56 will be settled exclusively by the competent court in Amsterdam.

These auction conditions are also available in English