Terms of auction

Terms of auction

Organizer of the auction is the firm Starinita Oy owned by Finnish Horse Owners Association (SHKL) and Association of Finnish Trotting Horse Breeders (SRHK).

General

The lowest bid accepted is 1 000 €. Auctioneer has the right to begin with a higher bid to speed up the selling. Minimum raise is 250 € until the price reaches 5 000 €, and 500 € after that. Auctioneer has the right to demand 1 000 € raises if needed. Others than above-mentioned raises are not accepted.
When purchasing by bid the buyer will be charged the purchase-price + 30 € (incl. VAT) handling fee and additional 2% of the purchase price as bidding brokerage and thereafter VAT (24%) will be added. Handling fee is charged from the party to whom the horse goes, whether the buyer or the seller.

The seller is responsible of the information about the horse and its expenses to the knock of the hammer. The buyer takes responsibility of expenses from the knock of the hammer. The seller is responsible of giving out the horse. The seller’s duty before leaving the auction is to ensure from the auction office that the horse has been paid and the buyer has arranged transportation from auction premises or booked the horse to horse-hotel service.

Sales are done in numerical order of the catalogue. If the highest bid is not approved or a dispute regarding a given bid occurs, the horse may be put up for sale again after decision of Starinita Oy. The buyer shall sign the contract of auction immediately after the winning bid, and then go promptly to the auction office for payment of the horse.

Transportations to and from the auction premises is done by own vehicles and at own expense. Starinita Oy is not responsible of any incorrect statements in the auction catalogue. Starinita Oy disclaim any or all responsibility for any damage that might occur on deposited horses during the time the horse is staying in the facilities used by Starinita Oy for the auction. Either is Starinita Oy liable of damages that may occur during the transportation of horses or their stay at a horse-hotel service.

Condition of horses

The horses are sold in condition as presented. The buyer is obliged to inspect the horse before it enters the auction ring. Starinita Oy demands that the horse has a veterinary certificate which is not older than 14 days. We recommend X-rays of the horses that have expected prices over 5 000 €.
Starinita Oy reserves the right to deny auction horse to participate in the auction if the horse shows signs of disease or is in poor condition.

CONDITIONS BETWEEN STARINITA OY AND THE SELLER

The seller is responsible for all the statements made regarding his/her horse or horses. Registration certificate (horse passport), veterinary certificate and a filled form regarding change of ownership shall be given to auction office by registration on the day of the auction. The seller is responsible towards Starinita Oy that the horse will not be given out unless the distribution certificate has been attained.

Bidding brokerage is deducted from the auction price before it is paid to the seller’s account 30 days after the auction at the latest.

Force Majeure

The auction can be moved after decision of Starinita Oy because of force majeure such as war, strike, epidemic disease or natural disaster that are outside the realm of control of Starinita Oy. If new auction can’t be held within two months, the auction agreement ceases to be in force between the parties.

Application, sales comission and bidding brokerage

Application fee for the members of Finnish Horse Owners Association or Association of Finnish Trotting Horse Breeders is 100 € and for others the fee is 150 € (24% VAT included). Every fourth horse from the same seller comes in to the auction without fee. Application fee is charged after the auction. Initial price of the horse is 1 000 €.

If the horse is withdrawn from the auction, application fee will be uncharged only if the horse is dead. If the withdrawal is made on basis of a veterinary certificate that Starinita Oy accepts, the seller will be charged 200 € + VAT 24%. If the horse is withdrawn on other grounds than those which Starinita Oy approves, the seller will be charged 800 € + VAT 24%. Starinita Oy has unilateral and unconditional right to refuse a person or a company to participate in the auction, if any misconduct is discovered.

Staggering of sales comission

Sales commission fee is 6% in prices between 1 000 – 5 000 € (+24% VAT). In prices between 5 001 – 10 000 € sales commission fee is 4% (+24% VAT) and in prices over 10 000 € the commission fee is 2% (+24% VAT) from the part that exceeds 10 000 €.

If the seller buys his own horse back a commission fee is 4% (+24% VAT) or a minimum of 100 € from prices under 8 000 € and 2% (+24% VAT) from the part that exceeds 8 000 €. If no bids come at the initial price of 1 000 €, no commission fee is charged.

Bidding brokerage

The buyer will be charged the purchase price with VAT added and additional 2% (+24% VAT) as bidding brokerage and handling costs of 30 e (VAT incl.) to Starinita Oy.

CONDITIONS BETWEEN SELLER AND BUYER

Condition of horses and complaints

Any complaint or dispute will be settled directly between the seller and the buyer. Starinita Oy is not liable for any damage due to incorrect information or incorrect statements regarding horses in sale. If the buyer wants to claim liability for hidden defects, the buyer has to perform a veterinary inspection within 10 days from the auction. If the horse is returned, the buyer pays for transportation to the seller’s stable. The buyer will also pay all other expenses that occur after the knock of the hammer.

The seller is not responsible for damage which might strike other animals or humans through a contagious disease, which the animal was carrying at the time of the sale and which the seller had not noticed or should have noticed through careful inspection in connection with delivery.

The buyer is aware that additions to the auction statements can be given by the speaker as well as postings in the auction hall. Information given in these ways is valid for the buyer.

CONDITIONS BETWEEN STARINITA OY AND THE BUYER

Conditions of payment

The sale is made by cash payment during the auction day, if any other payment method has not been specially agreed with Starinita Oy in advance. The buyer is responsible to obtain or to continue the horse’s insurance until full payment has been made. Down payment is 10% of the price or at least 500 euros.

If the buyer, who purchases auction horse and signs the auction agreement, has not paid the horse in 7 days after the agreed date of payment, the seller has the right to cancel the purchase. If the deal is off for that reason, down payment will not be refunded.

Retention of ownership

The seller has right to possess the horse until full payment has been made or there is an agreement on credit. The horse will not be given out before full payment is done or there is agreement on credit.

Collection of the horse

The buyer has the right to collect the horse upon production of distribution certificate. According to the above, responsibility for the horse is transferred to the buyer immediately at the knock of the hammer.

Foreign buyers

Agreements with foreign purchasers are made case by case. Starinita Oy assists the buyer with export certificates and other issues of exportation with reasonable fee.

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