General auction conditions
1. Definitions
Auction Baltic – the administrator of the Auction.
Auction – an auction with a reserve price,
during which the Item is sold via the Online Platform administered by Auction
Baltic.
Automatic Bidding – a system-generated Bid placed on
behalf of the User after they input parameters into the Automatic Bidding
system.
General Auction Terms – this document.
Online Platform – the internet platform available at: http://www.auction-baltic.com/.
Successful Auction – an Auction in which the Reserve Price
has been reached, or in an Auction without a Reserve Price, at least one Bid
equal to or higher than the starting price has been placed, or the sale price
has been agreed upon separately.
Unsuccessful Auction – an Auction in which the Reserve
Price was not reached.
Seller – the person listing the Item for sale
via the Online Platform.
Seller’s Fee – 14.1% of the final sale price of the
Item, payable to Auction Baltic.
Buyer – the User declared the winner of a
Successful Auction.
Buyer’s Fee – 2.7% of the final purchase price of
the Item, payable to Auction Baltic.
Sales Agreement – an agreement concluded based on a
VAT invoice, under which ownership of the Item is transferred to the Buyer.
Item – any asset listed in an Auction
organized by Auction Baltic.
Manual Bidding – a Bid placed manually by the User.
Reserve Price – the lowest acceptable price of the
Item as determined by the Seller; hidden until reached, at which point the
system displays a notice that it has been achieved.
Specific Auction Terms – terms (agreement)
signed between Auction Baltic and the Seller.
Minimum Bid Increment – the minimum amount
by which a Bid must exceed the previous one.
Bid – an irrevocable offer to purchase made by the
User during the Auction.
User – any person registered on the Online
Platform and authorized to place Bids.
2. Scope of
Application of the General Auction Terms
2.1. These General Auction Terms define the principles of
cooperation between the Buyer, the Seller, and Auction Baltic, as well as the
conditions for participation in the Auction.
2.2. Words used in the singular shall also include the plural, and vice versa,
unless the context clearly indicates otherwise.
3. Auction
Organization
3.1. Auction Baltic is responsible for organizing, preparing,
conducting, and concluding the Auction.
3.2. During the Auction or before its commencement, Auction Baltic may, without
prior notice:
3.2.1. Exclude a User from the Auction;
3.2.2. Reject a Bid as invalid;
3.2.3. Correct errors in the Auction;
3.2.4. Take any other actions necessary to ensure the proper course of the
Auction.
3.3. Auction Baltic reserves the right to require a prepayment or other form of
payment security prior to allowing a User to participate in the Auction or
proceed with the purchase.
4. Auction
4.1. Auction Baltic may, at its sole discretion, cancel the
Auction, end it earlier than scheduled, or extend its duration.
4.2. By registering, the User acknowledges that the Auction takes place on an Online
Platform and may be subject to technical issues.
4.3. If the Online Platform becomes unavailable to all Users due to a system
failure, Auction Baltic shall extend the bidding period by an additional 24
hours.
4.4. The Buyer and the Seller acknowledge that Auction Baltic is not the owner
of the Items and is solely responsible for organizing the Auction and
administering the Online Platform.
5. Offers and
the Sales Agreement
5.1. The User may place Offers in one or more active Auctions via
the Online Platform. Each submitted Offer is irrevocable and unconditional.
5.2. Auction Baltic may, at its sole discretion and without providing any
reason, reject a User’s Offer.
5.3. Offers are submitted exclusive of VAT, which is applied according to the
regulations of the Seller’s country, as well as other taxes and fees applicable
to the Buyer and Seller.
5.4. Offers may be placed manually or
automatically:
1.
Manual Offer – The User enters the
specific amount they wish to bid in each Auction.
2.
Automatic Offer – The User sets the
maximum amount they are willing to pay. If another participant places a higher
Offer, the system automatically increases the bid by the Minimum Bid Increment,
without exceeding the predefined maximum. If multiple Users submit identical
Automatic Offers for the same Item, the winning Offer is the one submitted
first.
5.5. Auction Baltic has the right (but not the obligation) to deem a
User’s Offer erroneous and to invalidate it.
5.6. The Sales Agreement is typically concluded with the User who submitted the
highest Offer, provided that the Reserve Price has been reached.
5.7. Within 72 hours of the Auction’s conclusion (excluding weekends and public
holidays), the Buyer is informed by email that the Sales Agreement has been
concluded. If the Buyer does not receive such notification, it means their
winning bid was not confirmed. Auction Baltic is not required to provide a
reason for such non-confirmation.
5.8. Any amounts that Auction Baltic must refund to the Buyer and/or Seller
under the General and/or Specific Auction Terms (e.g. deposits) shall be
refunded only to the same bank account from which the payment was originally
made.
6. Item
Information
6.1. Descriptions of Items and other information available on the
Platform, provided by Auction Baltic or by third parties acting on its behalf,
are for informational (recommendation) purposes only. Auction Baltic does not
guarantee the accuracy of such information or its compliance with the actual
condition of the Item. The Buyer acknowledges that Auction Baltic receives this
information from the Seller and does not conduct technical or other
verification of the Item.
6.2. The Buyer is fully responsible for evaluating the condition of the
Item based on information available on the Platform (descriptions, photos,
videos, etc.) and by personally inspecting the Item, in accordance with these
Terms. To avoid misunderstandings, the Buyer is advised to exercise the right
to inspect the Item as stated in Clause 9 of the General Auction Terms.
6.3. The Buyer understands that until the Item is sold, the Seller may
continue to use it, which may result in changes to the parameters of the Item
compared to the information on the Platform. This may include engine hours,
mileage, condition of tires, etc. Items with engines are sold regardless of
their fuel level.
6.4. If, after placing a Bid or concluding the Sales Agreement, it turns
out that the Item does not match its description, this does not entitle the
Buyer to withdraw the Bid or terminate the Agreement.
6.5. Any models, samples, or quantities of Items displayed on the
Platform by Auction Baltic and/or the Seller are for illustrative purposes
only.
6.6. If any discrepancies are identified during the Auction, Auction
Baltic shall update the information to reflect the actual condition.
6.7. The Buyer or their authorized representative is required to inspect
the Item at its collection location. By signing the handover protocol, the
Buyer or their representative unconditionally confirms that there are no
objections regarding the condition, quality, or compliance of the Item with its
description on the Platform.
6.8. All information about the Item is published exclusively on the
Platform and is not repeated in the content of the Sales Agreement.
7. Buyer’s
Obligations
7.1. The Buyer undertakes to make a bank transfer within 48 hours
from the moment of receiving confirmation of winning a specific Auction, i.e.
upon receipt of the email confirming the win, to the Auction Baltic account
indicated in the issued pro forma invoice. Upon receipt of the invoice, the
Sales Agreement is deemed concluded with the Buyer. The payment must be made in
euros, unless a different currency is specified in the pro forma invoice. When
making the transfer, the Buyer is required to state the pro forma invoice
number in the payment reference. Failure to do so may result in the payment not
being credited.
7.2. If payment is not made within the specified timeframe, the Buyer
shall pay a contractual penalty amounting to 10% of the Item price stated in
the invoice. This penalty is considered the minimum compensation for Auction
organization and related costs.
7.3. Upon request by Auction Baltic, the Buyer
is obliged to complete all documentation required by applicable laws related to
sanctions compliance, anti-money laundering and counter-terrorist financing
procedures (such as a Know Your Customer (KYC) form, beneficial ownership
declarations, and undertakings regarding non-export of the Item to sanctioned
countries, among others). Failure to submit the required documentation entitles
Auction Baltic to remove the Buyer from the Auction and/or to refuse to conclude
the specific Sales Agreement regarding the Item, as well as to seek
compensation for any losses resulting from such non-compliance.
7.4. If the Item is purchased for export to a third country (outside the
European Union and/or European Economic Area), the Buyer:
7.4.1. Shall be solely responsible for fulfilling all requirements
related to the export and/or import of the Item to/from any EU or non-EU
country. This includes compliance with the laws of the country where the sale
and payment are conducted, payment of applicable taxes, collection of all
necessary documents, and, if required, obtaining transport permits.
7.4.2. Undertakes to pay a deposit to Auction Baltic equal to 21% of the
final Item price. This deposit shall only be refunded after submission of an
IE599 export confirmation report and the import declaration. The Buyer also
agrees to pay a €100 fee to Auction Baltic for handling export documentation.
7.4.3. Shall submit to Auction Baltic the CMR transport document with a
signed receipt confirmation.
7.4.4. Shall strictly comply with applicable restrictive measures
(sanctions) and shall not—directly or indirectly—sell, supply, transfer, or
export the Item to any individual, legal entity, organization, or body located
in Russia, Belarus, or any other sanctioned country, nor for use in such
countries, if prohibited by applicable laws regarding the Item in question.
8. Warranties and
Representations
8.1. Auction Items are sold “as is” at the time they are uploaded to the
Auction, including all related defects and features, considering the Item may
be used by the Seller until its transfer to the Buyer. Auction Baltic assumes
no liability for losses related to visible or hidden defects of the Item. No
warranties are provided regarding the completeness of documents, accuracy of
serial numbers, operational specifications, or any related information.
8.2. Auction Baltic offers no warranties for Auction Items and disclaims
any liability arising from third-party claims.
8.3. Any cables, wires, or other connecting elements intended for power,
control, or production equipment are sold up to the first fuse or first
installation point, unless otherwise agreed between the parties. Underground or
embedded connections are not sold with the Item unless explicitly stated
otherwise.
8.4. Auction Baltic accepts no liability if ownership of the purchased
Item is claimed by a third party. Auction Baltic also bears no responsibility
regarding potential or actual transfer of the purchased Item to any third
party.
8.5. Any defects in the Item or unmet expectations of the Buyer or third
parties do not create any right to seek compensation from Auction Baltic.
8.6. The Buyer and/or the Seller are obliged to compensate Auction
Baltic for any losses resulting from third-party claims arising from the
concluded Sales Agreement.
9. Item Inspection
9.1. The Buyer has the right to inspect the Item in person prior
to the conclusion of the Auction, and the Seller is obliged to ensure
appropriate conditions for such inspection. The Buyer is encouraged to perform
an in-person inspection before deciding to purchase, in order to verify whether
the information presented on the Website corresponds to the actual condition of
the Item. Inspection on the designated pre-auction viewing day is free of
charge. For inspections requested after the Auction has ended, the Buyer shall
pay Auction Baltic in advance a €190.00 service fee for organizing the
inspection. If the Buyer decides not to proceed with the purchase, this fee is
non-refundable. In the event the Buyer purchases the Item, €100.00 of the fee
shall be credited toward the Item price, and €90.00 shall be retained by
Auction Baltic as an inspection organization fee.
9.2. Neither Auction Baltic nor the Seller is liable for any damage
related to entering the premises during the Item inspection.
9.3. During inspection, loading, or any other occasion when the Buyer or
their authorized representative is present near the Item, enters the building
where the Item is located, or otherwise arrives to examine the Item, they are
fully responsible for their own safety and must take all precautionary measures
required under the laws of the country in which the Item is located.
9.4. If any visible or hidden defects and/or inconsistencies with the
Platform information are discovered during the inspection, the Buyer shall
immediately notify Auction Baltic.
10. Item Collection and Storage
10.1. Upon completing the payment, the Buyer must coordinate with
the Seller and Auction Baltic regarding the planned collection date and time of
the Item. The Item may only be collected during standard business hours of the
Seller and Auction Baltic. If the pickup time is not arranged in advance, the
Item will not be handed over.
10.2. Once payment has been made and the pickup time agreed, the Buyer
is obliged to collect the Item at the agreed location and time specified by
Auction Baltic. At the collection point, the Buyer or their authorized
representative must present valid identification and/or documents confirming
the authority to act on behalf of the Buyer. Item collection constitutes
fulfillment of the Sales Agreement.
10.3. Upon collection, the Buyer and Seller shall sign a handover
protocol.
10.4. The Buyer is responsible for arriving at the agreed time, while
Auction Baltic is responsible for organizing the transfer of the Item.
10.5. If the Buyer fails to collect the Item without valid
reason—despite having paid the full price—Auction Baltic shall store the Item
for no more than 30 calendar days from the agreed collection date. During this
period, the Buyer assumes all risk of accidental damage or loss. Auction Baltic
reserves the right to unilaterally alter the storage period, with prior notice
to the Buyer. Upon collection, the Buyer must cover storage, insurance, and
administration costs calculated at €20.00/day (excluding VAT), but not less
than €200.00 for the entire storage period.
10.6. If the Buyer fails to collect the Item after 30 calendar days or
the specified storage period, Auction Baltic may—upon written notice—sell the
stored Item independently at local market price, which may be lower than the Online
Platform listing. If the Item’s value exceeds €600, Auction Baltic has the
right to sell it via auction. The proceeds, after deducting costs payable to
Auction Baltic, shall be transferred to the Buyer. Throughout this process,
Auction Baltic retains the right to enforce the terms of the Sales Agreement
and General Auction Terms and to seek compensation for any losses, including
Seller and Buyer fees, storage, insurance, administrative expenses, and other
costs resulting from breach of contract.
10.7. During transport, the Buyer must be listed as the recipient and
Auction Baltic as the consignor in all relevant documents, including transport
documentation, the CMR waybill (if applicable), and customs papers.
10.8. Ownership of the Item is transferred upon signing the handover
protocol. If payment has not yet been made at the time of transfer, neither the
Item nor its ownership shall be transferred. If the Item consists of multiple
components, ownership is transferred by signing one protocol linked to the
specific Auction.
10.9. The Item shall be collected from the Seller in accordance with the
EXW (Ex-Works) Incoterms 2020 clause. If separately agreed, Auction Baltic
may—at an additional charge—provide loading services to the Buyer and/or
Seller.
10.10. If the Buyer wishes to use their own loading equipment, prior
written consent from Auction Baltic and/or the Seller is required. The Buyer
also confirms that their equipment meets relevant certification and loading
requirements.
10.11. If disassembly of the Item is necessary and has not been
performed prior to the sale, the Buyer is responsible for doing so—only after
receiving written consent from Auction Baltic or the Seller. Should any damage
occur during disassembly that affects Auction Baltic, the Seller, or any third
party, the Buyer shall be liable for full compensation.
10.12. If disassembly or loading generates waste, the Buyer is
responsible for disposing of such waste in compliance with applicable laws of
the country where the Item is being transferred and/or purchased.
10.13. If it is determined that the Item cannot be transported due to
risk of damage to buildings or premises in or near its location, Auction Baltic
may terminate the Sales Agreement by notifying the Buyer via email and/or
registered mail. In such cases, Auction Baltic and/or the Seller shall only
refund the amount already paid by the Buyer.
10.14. If the Buyer’s Item obstructs the loading of other goods or
impedes third-party operations, the Buyer must promptly arrange transportation
on the date specified by Auction Baltic and communicated via email and/or
registered mail. If the Buyer is unable to transport the Item on time, they
must relocate it so as not to cause disruption. If the Buyer fails to do so,
Auction Baltic will relocate the Item, but the risk of accidental damage or
loss remains with the Buyer, who must also cover any transportation costs.
11 Termination of the Sales Agreement
11.1. If the Buyer and/or the Seller fail to fulfill any of their
obligations under these General or the applicable Specific Auction Terms,
including but not limited to:
·
failure by the Buyer to pay or to pay
on time for the Item.
·
failure by the Buyer to collect or to
collect the Item on time.
·
failure by the Buyer and/or Seller to
provide the information or documents necessary to complete the purchase.
·
violation of applicable laws during the
transaction process by the Buyer and/or Seller;
the Sales Agreement may be unilaterally terminated by Auction Baltic and/or the
other party to the agreement who complies with the established requirements,
upon written notice to the party in breach. If the agreement is terminated due
to a breach of the General Auction Terms, the non-compliant party forfeits the
right to claim any compensation for loss or damage. Meanwhile, the compliant
party and Auction Baltic retain the right to seek compensation from the
breaching party.
11.2. Auction Baltic and/or the Seller may unilaterally terminate the
Sales Agreement if:
11.2.1. Requested documentation ensuring the proper execution of the agreement
is not provided or is insufficient to verify the Buyer’s ability to fulfill the
Sales Agreement;
11.2.2. One of the parties becomes aware that the Buyer may be unable to
fulfill the Sales Agreement due to risk of insolvency, bankruptcy, or potential
payment freeze and/or suspension.
11.3. Upon termination of the Sales Agreement due to breach of the
General Auction Terms, the responsible party shall compensate Auction Baltic
and, where applicable, the Buyer and/or Seller for all losses, damages, and
costs incurred. Payment must be made to the designated Auction Baltic bank
account, covering the full amount due to Auction Baltic and, respectively, the
Buyer or Seller.
11.4. If, during disassembly of the Item, Auction Baltic and/or the
Seller determine that such action may cause damage to the premises in or near
the location of the Item, Auction Baltic may terminate the execution of the
Sales Agreement at the Seller’s initiative. In this case, Auction Baltic and/or
the Seller shall not reimburse the Buyer for any losses or damages incurred.
11.5. If Auction Baltic determines that further execution of the Sales
Agreement becomes impossible, excessively difficult, or the costs of execution
become disproportionately high compared to the sale price of the Item, Auction
Baltic may unilaterally terminate the agreement. In such cases, neither the
Buyer nor the Seller shall be entitled to claim any damages or compensation
from Auction Baltic.
11.6. If transportation and/or execution of the Sales Agreement becomes
impossible for Auction Baltic, the Buyer, or the Seller due to force majeure
circumstances (such as fire, theft, natural disaster, etc.), each party has the
right to unilaterally terminate the execution of the Sales Agreement, without
the right to compensation.
11.7. Once ownership of the Item has passed to the Buyer and/or the risk
of accidental damage or loss has transferred, the Buyer may no longer demand
termination of the Sales Agreement.
11.8. If the Sales Agreement with the Buyer is terminated based on
clauses 11.1 of these General Auction Terms, the Buyer and/or Seller shall be
obliged to pay Auction Baltic compensation for incurred administrative,
storage, insurance, transportation, and other costs amounting to 22% of the
final sale price of the Item
12. Liability
12.1. Auction Baltic assumes no responsibility for any
consequences, losses (direct or indirect), or damages arising from and/or
caused by:
12.1.1. Technical failures of the Online Platform, including cases of complete
inaccessibility;
12.1.2. Discrepancies between Auction specifications on the Online Platform and
the actual condition of the Item;
12.1.3. Information presented on the Online Platform;
12.1.4. Actions taken by the User, as defined and clarified on the Platform and
in the General Auction Terms;
12.1.5. Unauthorized use of the Online Platform, including actions resulting
from third parties;
12.1.6. viruses that may have been transmitted through the Auction Baltic
Online Platform;
12.1.7. any subsequent actions taken by the Seller after the conclusion of the
Sales Agreement.
12.2. Auction Baltic bears no responsibility for potential inaccuracies or incomplete descriptions of Items published on the Online Platform.
12.3. If, upon receipt, the Item's model, quantity, or other attributes
differ from those indicated in the Auction, the Buyer shall not be entitled to
make claims or seek compensation from Auction Baltic for such discrepancies.
12.4. Any defects, regardless of origin, unmet expectations of the
Buyer, third-party claims or any other factors causing losses to the Buyer
shall not entitle the Buyer to compensation from Auction Baltic.
12.5. Auction Baltic is not liable for any visible or hidden defects of
the Item. The Buyer was obliged to assess the equipment in accordance with the
procedure described in Clause 9 of these General Auction Terms and report any
defects to Auction Baltic. Failure to do so shall render the Buyer responsible
for any such defects.
12.6. Auction Baltic assumes no responsibility for third-party claims
related to intellectual property rights associated with the Item. The Buyer
acknowledges awareness of the potential for such claims.
12.7. Auction Baltic is not liable for any direct or indirect damage
caused—or potentially caused—by the purchased Item to the Buyer or third
parties.
12.8. Auction Baltic bears no responsibility if the purchased Item does
not comply with the legal requirements of the Republic of Lithuania, the
European Union, or other jurisdictions.
12.9. Auction Baltic is not liable for any damage arising from
inaccurate, outdated, or incomplete information, regardless of whether such
information was published on the Online Platform or accessed via links to
third-party websites.
12.10. Auction Baltic is not responsible for any environmental damage
caused by actions involving the purchased Item.
12.11. Auction Baltic cannot guarantee that the Seller will ultimately
sell the Item to the Buyer after the Auction concludes, nor that the Items
offered are free of judicial restrictions or other prohibitions that may
prevent the sale. Auction Baltic also bears no responsibility for third-party
intellectual property restrictions affecting the sale of Items.
12.12. Auction Baltic is not liable for losses the Buyer may incur in
connection with any subsequent handling and/or resale of the Item, or due to
limitations imposed by third-party rights (including intellectual property
rights).
12.13. Auction Baltic’s liability for losses arising under these General
or Specific Auction Terms is limited to the amount that the Buyer and/or Seller
may recover from an insurance provider. If such liability is not insured or the
insured sum is insufficient, Auction Baltic's financial liability is limited to
a maximum of €1,000.00.
12.14. Under no circumstances shall Auction Baltic be liable for indirect losses, including loss of profit, lost income, and similar damages.
13. Validity and Amendment of the General Auction Terms
13.1. If any provision of the General Auction Terms becomes
invalid or is repealed, all other provisions shall remain in full force and
effect. In such cases, Auction Baltic is obliged to propose amendments or
replacements to the General Auction Terms.
13.2. Any deviations not described in either the General or the Specific
Auction Terms shall be deemed valid only if confirmed in writing by an
authorized representative of Auction Baltic.
13.3. In relation to the Seller, if there is any conflict between the
General and the Specific Auction Terms, the Specific Auction Terms shall
prevail.
13.4. Auction Baltic may amend the General Auction Terms at any time.
Such amendments shall take effect 30 calendar days from the date the changes
are communicated to the User/Seller via email. If the User/Seller does not
object within the stated 30-day period, it shall be deemed that the User/Seller
has accepted the amendments.
14. Governing Law
14.1. The General and Specific Auction Terms shall be governed by
the laws and regulations of the Republic of Lithuania.
14.2. Any disputes arising shall be resolved amicably through negotiation. If a
resolution cannot be achieved through negotiations, the dispute shall be
submitted to the competent court in Vilnius, Republic of Lithuania.