THE CROWN AUCTION – TERMS AND CONDITIONS OF AUCTION

Article 1 – Registration and Participation in the Auction

1. The private limited liability company The Crown Auction B.V., having its registered office at Donkerhofsteeg 11, 5865 BA Tienray, the Netherlands, and registered with the Dutch Chamber of Commerce under number 42171243, e-mail: info@thecrown.auction (hereinafter referred to as “The Crown Auction”), organises various online auctions for embryos and jumping and hunter horses under the name ‘The Crown Auction’ (hereinafter referred to as the “Auction”).
2. The Crown Auction acts as an auction service. The Crown Auction is also the seller of the horses and embryos.
3. The Crown Auction determines the dates and times at which the Auction takes place. The Auction is conducted on The Crown Auction’s website: www.thecrown.auction (hereinafter referred to as the “Website”). The Auction starts and closes at a time announced in advance. The duration of the Auction will be stated in advance on the Website. If a bid is placed during the final five minutes before the announced closing time of the Auction, the closing time shall be extended by five minutes each time. The Auction shall finally close five minutes after the last bid.www.thecrown.auction
4. These auction terms and conditions apply to all agreements and all legal relationships between The Crown Auction and the bidder and/or buyer that are entered into and/or arise in connection with the Auction.
5. Participation in the Auction by prospective buyers is permitted only to natural persons and legal entities who have registered on the Website prior to the commencement of the Auction, have truthfully completed the accompanying questionnaire and thereby have an account with a username and password. Participation in the Auction and/or entering into an agreement for services between The Crown Auction and the bidder and/or buyer in respect of the service offered by The Crown Auction, whereby The Crown Auction facilitates the conclusion of a purchase agreement by organising the Auction, implies that the bidder and/or buyer expressly and unconditionally agrees to the applicability of these auction terms and conditions and to the payment of an auction fee of 10% of the hammer price and 21% VAT (if applicable).
6. The applicability of any general terms and conditions of the bidder and/or buyer is expressly rejected.
7. The horses and embryos selected by The Crown Auction that will be offered during the Auction may be viewed on the Website prior to the commencement of the Auction by means of videos and photographs, in which the horses are, among other things, shown under saddle. Written information regarding the principal characteristics of the horses and embryos (including, among other things, age, sex, colour and pedigree) is also provided on the Website.
8. Prospective buyers and interested parties are free to view and/or try the horses under saddle at The Crown Auction’s premises prior to the Auction. An appointment must be made in advance by e-mail at info@thecrown.auction.

Article 2 – The Offer

Obvious errors or obvious mistakes in the offer of the horses and embryos, for example as a result of typographical or printing errors, shall not be binding upon The Crown Auction and no rights may be derived therefrom.

Article 3 – Bids and Purchase

1. Bids and payments shall be made in EURO.
2. When a bid is placed, the person in whose name the account has been created shall be deemed to be bidding on their own behalf and shall be personally liable for the obligations arising from their bid. If the bidder declares that they are acting on behalf of a third party, they shall remain jointly and fully liable towards The Crown Auction alongside such third party.
3. During the Auction, the horses shall be sold by competitive bidding, unless otherwise stated. The starting bid for each horse is EUR 15,000.00 excluding VAT, after which bids shall increase by EUR 1,000.00 excluding VAT up to an amount of EUR 30,000.00. Once the total bids for a horse reach EUR 30,000.00, bids shall increase by EUR 2,000.00 excluding VAT. Once the total bids for a horse reach EUR 100,000.00 or more, bids shall increase by EUR 5,000.00 excluding VAT. During the Auction, the embryos shall be sold by competitive bidding, unless otherwise stated. The starting bid for each embryo is EUR 5,000.00 excluding VAT, after which bids shall increase by EUR 500.00 excluding VAT up to an amount of EUR 15,000.00. Once the total bids for an embryo reach EUR 15,000.00, bids shall increase by EUR 1,000.00 excluding VAT. Once the total bids for an embryo reach EUR 30,000.00, bids shall increase by EUR 2,000.00 excluding VAT. Once the total bids for an embryo reach EUR 100,000.00 or more, bids shall increase by EUR 5,000.00 excluding VAT.
4. Once a bid has been placed on a horse/embryo, that bid shall remain valid until a higher bid has been accepted. A bidder may not invoke bidding errors, input errors or mistakes when placing a bid in the Auction.
5. The bidder with the second-highest bid is obliged to keep their bid valid for fourteen (14) calendar days after the closing of the Auction in the event that the highest bid is declared invalid or is not honoured.
6. The bidder accepts the special circumstances that may arise in an online auction, including technical imperfections that may prevent a bid from being placed in time. Without prejudice to the provisions of Article 8 of these auction terms and conditions, The Crown Auction shall never be liable to the bidder for any damage resulting from the special circumstances referred to in this paragraph.
7. If the Website server awards the hammer to the bidder, the purchase agreement is concluded and the bidder is obliged to pay The Crown Auction the hammer price including VAT (if applicable) and the applicable auction fee.
8. The amount payable by the buyer shall be calculated as follows:

Hammer price

10% auction fee    +

Purchase price excluding VAT (hereinafter referred to as the “Purchase Price”)

1. An auctioneer appointed and designated by The Crown Auction shall supervise the Auction. The auctioneer shall draw up an official report of the award of the bid.

Article 4 – Payment

1. The Crown Auction shall issue the buyer an invoice in respect of the Purchase Price (whether or not increased by VAT).
2. The buyer shall at all times bear the transport costs, including where transport is arranged by The Crown Auction at the buyer’s request. All transport risks shall likewise be borne by the buyer at all times.
3. Payment of an invoice issued by The Crown Auction must always be made, without suspension, discount or set-off, within five (5) days of the invoice date, which period shall be a strict deadline, in the currency in which the invoice was issued, to The Crown Auction’s bank account number IBAN: …………………..
4. If the buyer fails to fulfil their payment obligations on time or in full, The Crown Auction shall be entitled to terminate the purchase agreement and subsequently sell the horse/embryo to a third party. In such event, the buyer shall never be entitled to any compensation or damages, or to any compensation of any kind whatsoever, including but not limited to any claim in respect of a higher proceeds from the sale of the horse/embryo. If the horse/embryo is sold for a lower amount, the buyer shall compensate The Crown Auction for the damage, consisting of the difference between the Purchase Price and the lower proceeds.
5. If the buyer fails to make timely and/or full payment of an invoice, the buyer shall be in default by operation of law and shall owe default interest of 1% of the invoice amount per month, whereby part of a month shall be deemed to constitute a full month.
6. All judicial and extrajudicial costs incurred by The Crown Auction for the collection of its invoices shall be borne by the buyer. Extrajudicial collection costs shall be charged to the buyer at a fixed rate of 15% of the amount to be collected, with a minimum of EUR 500.00 excluding any VAT due. Except where the buyer is a consumer, the buyer shall have no right of set-off.

Article 5 – Acceptance of the Horse

1. The horses/embryos are auctioned on an “as is, where is” basis, i.e. in the condition and in the manner and location in which they are at the time of the Auction.
2. The Crown Auction provides no warranty regarding the health condition of the horse/embryo or the horse’s/embryo’s future suitability for sport. All risks in this respect shall remain with the buyer.
3. Prior to the Auction, each horse has undergone a clinical and radiographic examination by Dr Antoine Peeters. The radiographic images made by Dr Antoine Peeters in this context are accessible to everyone and may be consulted and downloaded on the Website and stored for personal use. The assessments of the radiographic and clinical examinations carried out by Dr Antoine Peeters are likewise accessible and available for consultation by everyone on the Website and may be stored for personal use.

Article 6 – Delivery, Transfer of Risk and Performance

1. All risks relating to the horse/embryo shall pass to the buyer at the following times and in the following manner:

1. 1. I. If the buyer is a consumer, the horse/embryo shall be at the buyer’s risk from the moment of delivery. From that moment, all obligations, responsibilities and liabilities, as well as all risk factors relating to the horse/embryo, shall pass to the relevant consumer-buyer. The consumer-buyer shall indemnify The Crown Auction against all claims by third parties in this respect.
   2. II. If the buyer is not a consumer, the horse/embryo shall be at the buyer’s risk from the moment the bid is awarded to the buyer. From that moment, all obligations, responsibilities and liabilities, as well as all risk factors relating to the horse/embryo, shall pass to the relevant buyer. The consumer-buyer shall indemnify The Crown Auction against all claims by third parties in this respect.

1. Ownership of the horse/embryo shall pass to the buyer at the moment the buyer has paid The Crown Auction in full all amounts owed by the buyer pursuant to the agreement(s) concluded in connection with the Auction. Until The Crown Auction has received full payment from the buyer of the Purchase Price and VAT (if applicable), The Crown Auction shall remain the owner of the horse/embryo within the meaning of Article 3:92 of the Dutch Civil Code, irrespective of whether the horse/embryo has been delivered to the buyer.
2. Following the Auction and receipt by The Crown Auction of the Purchase Price (whether or not increased by VAT), the buyer and The Crown Auction shall agree on the time and manner of the actual delivery of the horse/embryo. Unless otherwise agreed between The Crown Auction and the buyer, the buyer shall collect the horse/embryo from The Crown Auction’s premises. Actual delivery of the horse/embryo must in any event take place within seven (7) days after the Auction. After these seven (7) days, The Crown Auction shall be entitled to charge the buyer stabling and care costs in the amount of EUR 500.00 per month. The Crown Auction shall only release the horse/embryo to the buyer once the aforementioned costs have been paid in full.
3. The buyer shall at all times bear the transport costs, including where transport is arranged by The Crown Auction at the buyer’s request. All transport risks shall likewise be borne by the buyer at all times.
4. The buyer acknowledges and agrees, by participating in the Auction, that The Crown Auction does not take out insurance for the relevant horse/embryo on behalf of the buyer. If desired, the buyer shall arrange insurance in respect of any risks that may unexpectedly arise in relation to the horse/embryo, including, but not limited to, transport risks, illness, death, accident and permanent or temporary unsuitability due to illness, defect or otherwise. The Crown Auction shall not arrange such insurance and advises the buyer, also in view of the transfer of risk referred to in paragraph 1 of this Article, to take out such insurance in good time.

Article 7 – VAT

1. If an auctioned horse/embryo is transported to another Member State of the European Union or exported to a country outside the European Union virtually immediately after delivery, The Crown Auction may, at the buyer’s request, charge 0% VAT. The buyer shall then be obliged to fulfil all conditions necessary to effect a legally valid intra-Community supply or supply to a country outside the European Union. Following delivery, the horse/embryo must be transported by the buyer to another Member State of the European Union or to a country outside the European Union as soon as possible and in any event within a few weeks. Within two weeks after delivery of the horse/embryo, the buyer must send the export and customs documents to The Crown Auction as proof that the horse/embryo has actually left the Netherlands and arrived in another EU Member State or outside the European Union. The Crown Auction expressly points out to the buyer that, in such event, the horse/embryo may no longer participate in competitions in the Netherlands and/or Europe after the Auction.
2. If, for whatever reason, the application of the 0% VAT rate subsequently proves to be impossible or incorrect, the buyer shall at that time nevertheless owe an amount of VAT equal to the amount that would have been due if the relevant horse/embryo had been supplied domestically. At the request of The Crown Auction, the buyer shall immediately pay the aforementioned VAT amount to The Crown Auction.
3. The Crown Auction can never be held liable if an incorrect amount of VAT has been charged to the buyer, for example, but not limited to, where the buyer has acted contrary to the provisions of paragraph 1 of this Article and the buyer has not exported the horse/embryo in a timely manner and/or has exported it incorrectly. The buyer expressly indemnifies The Crown Auction against all possible VAT claims by the tax authorities in this respect.

Article 8 – Liability

1. The Crown Auction shall not be liable for any damage arising from the Auction and/or caused by or incurred in connection with the performance of the agreement, except in the event of wilful misconduct or gross negligence on the part of The Crown Auction.
2. The Crown Auction shall not be liable for any damage caused by the horse/embryo purchased by the buyer to third parties and/or other horses, except in the event of wilful misconduct or gross negligence on the part of The Crown Auction.
3. The Crown Auction shall not be liable for damage arising from any accident occurring on or near the premises or buildings where horses may be viewed and tried or where purchased horses/embryos may be collected, except in the event of wilful misconduct or gross negligence on the part of The Crown Auction. Entry onto The Crown Auction’s premises and into its buildings shall be at the visitor’s own risk.
4. The Crown Auction shall not be liable for damage caused by the provision of incorrect and/or incomplete information, irrespective of the nature and extent of such damage or the information provided and irrespective of the source of the information, except in the event of wilful misconduct or gross negligence on the part of The Crown Auction.
5. The buyer shall indemnify The Crown Auction against any claim by any third party in respect of alleged damage suffered by such third party and caused by or incurred in connection with the performance of the agreement, irrespective of its nature or extent.
6. If The Crown Auction is liable for any damage, its liability shall be limited to the amount paid out by The Crown Auction’s insurer in the relevant case, increased by the applicable excess under that insurance.
7. If, for whatever reason, no payment is made under The Crown Auction’s insurance, its liability shall be limited to a maximum amount of EUR 2,500.00.

Article 9 – Compensation

Any claim for compensation shall in any event lapse twelve (12) months after the buyer becomes aware of the damage, which arises directly or indirectly from an event or circumstance for which The Crown Auction is or may be liable. The alleged liability of The Crown Auction and the extent of the alleged damage must be reported to The Crown Auction in writing.

Article 10 – Third Parties

1. For the purposes of the agreement, The Crown Auction shall be free to make use of the services of third parties as it deems necessary for the performance of the agreement.
2. The Crown Auction shall not be liable for any failure and/or error on the part of such third parties, except in the event of wilful misconduct or gross negligence on the part of The Crown Auction.
3. The buyer shall indemnify The Crown Auction against claims by third parties.

Article 11 – Force Majeure

1. In the event of force majeure, The Crown Auction shall have the right, at its discretion, to suspend the performance of its obligations arising from the agreement or to terminate the agreement in whole or in part without judicial intervention, by notifying the buyer thereof in writing, without The Crown Auction being obliged to pay any compensation, unless this would be unacceptable under the standards of reasonableness and fairness applicable in the circumstances.
2. For the purposes of Article 6:75 of the Dutch Civil Code, force majeure shall, under these auction terms and conditions, be understood to include, in addition to the circumstances recognised as such by law and case law: all external causes and their consequences, whether foreseeable or unforeseeable, over which The Crown Auction has no control and as a result of which The Crown Auction or a third party engaged by it is unable to fulfil its obligations, or as a result of which performance has become so impracticable and/or disproportionately costly for The Crown Auction (or such third party) that performance of the agreement with the buyer cannot reasonably be expected of The Crown Auction. This shall include, but not be limited to:

1. 1. a. strikes within the business of The Crown Auction or of third parties involved in the performance of the agreement with the buyer;
   2. b. instructions or requests from a governmental authority and/or local authority and/or any natural person authorised to act on behalf of such authority;
   3. c. amendments to laws and/or regulations as a result of which The Crown Auction is no longer able to fulfil its obligations, or as a result of which performance has become unreasonably difficult and/or disproportionately costly;
   4. d. outbreaks of infectious diseases;
   5. e. pandemics and/or epidemics and measures taken by public authorities in response thereto;
   6. f. extreme weather conditions;
   7. g. the circumstance that a third party engaged by The Crown Auction fails to provide, does not timely provide or does not properly provide a performance that is important in connection with the performance to be provided by The Crown Auction itself, due to force majeure on the part of that third party.

Article 12 – Personal Data

For the conclusion and performance of the agreement, The Crown Auction requests personal data from the buyer. The buyer’s personal data shall be processed by The Crown Auction in accordance with the General Data Protection Regulation (GDPR).

Article 13 – Consumer Right of Withdrawal

1. A consumer-buyer has the right to terminate the agreement without stating reasons within fourteen (14) calendar days (hereinafter referred to as the “withdrawal period”). The withdrawal period commences on the day after the consumer-buyer, or a third party designated in advance by the consumer-buyer other than the carrier, has received the horse/embryo.
2. During the withdrawal period and the return of the horse/embryo, the consumer-buyer shall handle the horse/embryo with due care and shall strictly follow the instructions provided by The Crown Auction.
3. If the consumer-buyer exercises the right of withdrawal, they must notify The Crown Auction unambiguously and in writing within the withdrawal period. They must return the horse/embryo to The Crown Auction without undue delay and in any event within fourteen (14) days after submitting the aforementioned notice of withdrawal, by physically handing over the horse/embryo to The Crown Auction in accordance with the instructions provided by The Crown Auction. All accessories supplied, including, but not limited to, the passport and studbook certificate of the horse/embryo, must be handed over to The Crown Auction simultaneously with the horse/embryo.
4. If the consumer-buyer exercises the right of withdrawal, all costs, including but not limited to transport costs, and the risk of returning the horse/embryo shall be borne by the consumer-buyer.
5. If the consumer-buyer exercises the right of withdrawal, The Crown Auction shall refund the payments received from the consumer-buyer under the agreement as soon as possible and in any event no later than five (5) days after The Crown Auction has received the horse/embryo.
6. If the consumer-buyer has chosen a more expensive method of transporting the horse/embryo, The Crown Auction shall not be required to refund the additional costs of the more expensive transport method.
7. The consumer-buyer shall be liable to The Crown Auction for any depreciation in the value of the horse/embryo arising during the period between delivery to the buyer and return to The Crown Auction.

Article 14 – Applicable Law and Competent Court

1. The legal relationship(s) between The Crown Auction and the bidder and/or buyer, including any liability claims, shall be governed by Dutch law.
2. Any dispute arising from or relating to the legal relationship(s) between The Crown Auction and the bidder and/or buyer shall be settled by the competent court in the judicial district of the Limburg District Court that has jurisdiction to hear the dispute at first instance.
3. These auction terms and conditions have been drawn up in Dutch and English. In the event of any dispute concerning the English version of these auction terms and conditions or its translation, the Dutch version shall prevail.