THE A.D. AUCTION is an online auction for Sporthorses organized by Mr. Alex Delazer, via la Selva 100, 39048 Selva Gardena Italy, VAT number IT03012180216, social security number DLZLXA92B29A952Y.
Participation in this auction implies the explicit and reservation-free knowledge and acceptance of these auction conditions.
Alex Delazer sells horses via his website on behalf and for account of third parties. Alex Delazer acts as auction service. The auction committee acts as mediator between seller and buyer. Buyers must register themselves via the website www.theadauction.com before being allowed to participate in THE A.D. AUCTION.
The horses are auctioned in the condition and state they have at the time of the auction. X-rays of all four legs will be available for each horse (standard projection). Alex Delazer cannot, in any way, be held liable for faults or vices the horses might show after purchase.
The sale is realised under Italian law by means of bidding and allotment to the highest bidder after payment of the settlement amount, whether or not to be increased by VAT.
Bids and payments are made in EURO. The auction proceeds according to the following bidding steps:
From € 500 - € 10,000 per 500
From € 10,000 - € 50,000 per € 1,000
From € 50,000 - € 100,000 per € 2,000
From € 100,000 upward per € 5,000
The website will state an indicative closing time of the auction per specific lot. If, however, a bid is made in the last 5 minutes before the closing time of a lot, the auction time for that specific lot will be automatically extended by 5 minutes. The extended time will become the new indicative closing time.
In the auction a horse is allotted to the highest bidder. The settlement of the sales price by buyer is calculated as follows: the allotment price + 10% of such allotment price as buyer’s commission = net price, to be increased with any VAT possibly due, which constitutes the total settlement amount. By making a bid, the bidder undertakes to pay the settlement amount, unless a higher bid is made thereafter.
Horses can be subject to a reserve price. The reserve price is the minimum price to be reached for the horse to be sold. If a horse does not reach the reserve price, the allotment to the highest bidder will be provisional. Alex Delazer will inform the bidder right away that allotment is provisional until authorization to the sale is given by the seller. Communication that the sale has been authorized by the seller will be made within 24 hours from the end of the auction. The bid made by the prospective buyer, even if less than the reserve price, is binding, and after authorization by the seller, it will be considered final. All other provisions of the underlying auction conditions apply to the provisional allotment.
In addition to the allotment price, the buyer will pay Alex Delazer a percentage of 10% (excluding VAT) of the allotment price by way of commission and for the mediation in the auction costs. Alex Delazer will issue an invoice for these services, the amount of which is to be promptly transferred into the account of Alex Delazer, previous to the delivery of the horse to the buyer.
The settlement amount is immediately due upon allotment.
Immediately after allotment, any responsibility regarding the auctioned horses will be transferred to the buyer.
After allotment AND payment, buyer and seller will make arrangements for the delivery in mutual consultation. The legal relationship exists directly between buyer and seller, with the understanding that the seller is liable to the buyer, with explicit exclusion of the auction organisation, for any shortcoming a horse may display after the auction.
Neither seller nor buyer can or will be able to derive any rights from the fact that the auction organisation selected the horse and, when deemed necessary, subjected the horse to a veterinary examination at its request
The information provided about the horses is exclusively intended to give an impression of the qualities of the horses, without pretending to be complete and without offering any guarantees. For the description of a lot in its catalogue, Alex Delazer is purely led by the information about that lot provided by the seller or a third party. Alex Delazer is not liable for any printing mistakes and/or material errors in the auction catalogue or on its website and online catalogue.
If not otherwise agreed between the Buyer and the Seller after the Auction and communicated to Alex Delazer, the horse will be collected from the Seller at the expense of the Buyer. Delivery will only take place after Alex Delazer has informed the Seller that the settlement amount, as defined in article 8 of these auction conditions, has been deposited into the account number of Alex Delazer. Upon delivery of the horse, the form “Proof of Delivery” will be filled out and signed by the buyer. The seller is allowed to charge stable money for the horse starting from 30 days after the auction ends.
In case of auction and allotment of foals, they will be delivered at the buyer’s expense not before the age of 5 months. The buyer will be promptly informed of the delivery time. Delivery will always be made after payment of the sale price and commission as provided for in Art. 8 and 9. The liability and risk in respect of the auctioned foals shall be transferred from the seller to the buyer immediately after the auction. The legal relationship remains between the Buyer and the Seller. It is understood that as far as the Buyer is concerned, the Seller and NOT the organisation of the auction shall be liable for any failings and/or flaws that the foals show after the auction.
Once the buyer has received communication that the foal can be delivered, delivery has to be organized within 7 days. After 7 days the seller can charge the buyer stable money.
In case of export of a horse, the buyer will submit valid transport documents within 3 months after the auction, on forfeiture of a penal sum consisting of the VAT that has yet to be charged.
In the event of a dispute the Italian version of this agreement shall prevail exclusively. The translation of these auction conditions into another language is purely informatory.
In the event of a dispute, related to the auction, between Seller and Buyer, the auction committee will make an effort to settle this dispute by mediation. If any of the parties believes that no solution has been reached, the Court of Bolzano will be exclusively competent. To the relationship between the Seller and the Buyer Italian law applies.
Any dispute arising from this auction and its consequences will be exclusively ruled by Italian law with exclusion of the provisions of the Vienna Sales Treaty regarding international purchases/sales.