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TERMS AND CONDITIONS OF AUCTION FOR INSIDERAUCTIONS
By using our website (including all domains and subdomains), the bidder who uses the website to bid on a vehicle or find information on an offer on the website confirms that they agree to the following Terms and Conditions of Auction (‘GTC’) of INSIDERAUCTIONS AG (‘INSIDERAUCTIONS’), Reiden, Switzerland. Please note that Terms and Conditions of Auction may change from time to time, and it is the responsibility of each individual bidder to inform themselves of any changes to the Terms and Conditions of Auction. The bidder re-confirms these GTC every time they sign into the website. INSIDERAUCTIONS reserves the right to make changes to these GTC at any time and to publish the current version of the GTC on the website. Bidders are asked to contact customer services at contact@insider-auctions.com if they have any questions or concerns regarding the Terms and Conditions of Auction. For simplicity, the term ‘bidder’ is always used, even if the bidder becomes the ‘buyer’ after the bid is accepted.
The auction items (vehicles) are auctioned by INSIDERAUCTIONS in their own name, either for their own account or for the account of a consignor. The bidder who is recognized by INSIDERAUCTIONS as the bidder in the online auction with the highest bid in US dollars at the end of the bidding period wins the auction, which results in a binding purchase contract being formed between INSIDERAUCTIONS and the buyer regarding the item purchased through the online auction on the website.
2.1 Any legal entity or natural person with legal capacity is entitled to apply to register on the auction platform. In all cases, the bidder must be at least 18 years old. An application to use the platform can only be submitted through the registration process provided by INSIDERAUCTIONS on the platform and based on the published INSIDERAUCTIONS GTC and privacy policy valid at that point in time. INSIDERAUCTIONS will review the application and make a final decision on the conclusion of a contract. INSIDERAUCTIONS may refuse registration without giving reasons or exclude a bidder, ban use of the website or stop providing services to a bidder. There is no right to register or use the website and the corresponding auction platform or to make use of INSIDERAUCTIONS services. If the registration application is accepted, a one-time fee of USD 350.00 is immediately payable by credit card. After payment of the fee, the membership is accepted and the bidder is eligible to participate in future auctions. The registration fee is non-refundable.
2.2 The bidder is obliged to provide truthful information about themselves. We request personal data (full first and last name, date of birth, address for current main place of residence, telephone number, email address, proof of funds documents, proof of assets). This data must always be kept up to date. If the bidder is a legal entity, they must ensure that the authorized signatories have given their legal consent to the conclusion of a contract with INSIDERAUCTIONS in accordance with these GTC. Only one user account is permitted per bidder.
2.3 Either party may terminate the contract at any time without giving notice, , with the exception of clause 3.6. Termination by the bidder is not possible in particular if he has submitted a bid. The bidder may terminate the contract either through the cancellation process available via the user account or by email. Where possible, INSIDERAUCTIONS is required to notify the bidder of the termination in advance by email. If the bidder has their registered office/place of residence outside Switzerland, it is sufficient for INSIDERAUCTIONS to send notice of termination by email. On termination of the contract, the bidder no longer has the right to access their user account, and INSIDERAUCTIONS is entitled to block the user account from this point in time and to discontinue all services. Any obligations of the bidder towards the operator remain unchanged. Financial obligations are due for payment immediately on termination of the contract.
2.4 It is strictly forbidden to attempt to influence or otherwise manipulate the prices of vehicles being auctioned by using multiple registrations or in conjunction with third-party accounts or with other bidders.
2.5 If the bidder violates these GTC and/or legal regulations, INSIDERAUCTIONS may block the bidder and exclude them from its services on a temporary or permanent basis. Any charges already paid by the bidder will not be reimbursed in this case. INSIDERAUCTIONS reserves the right to prosecute violations under civil and/or criminal law if necessary. All rights and claims of INSIDERAUCTIONS are hereby reserved.
2.6 INSIDERAUCTIONS rejects any liability for registrations that are not accepted.
3.1 If the bidder’s registration application has been approved by INSIDERAUCTIONS and their user account has been activated, the bidder is entitled to bid for a vehicle on the website throughout the entire bidding period.
3.2 In an auction, vehicles are offered for sale on the website for a period defined in advance by INSIDERAUCTIONS (normally seven calendar days) at a certain minimum price under the conditions set out in these GTC. Bidding periods end at a set time that can be seen on the website. INSIDERAUCTIONS can extend the predefined bidding period at its own discretion, if this appears to be expedient and appropriate for the proper execution of the online auction.
3.3. INSIDERAUCTIONS may, at any time and at its sole discretion, request the necessary financial information, guarantees and/or other collateral for each bid.
3.4 Valid bids can only be submitted on the input screen provided for this purpose on the INSIDERAUCTIONS website. Submission of a valid bid in the online auction means accepting the offer of the vehicle under the conditions set out in these GTC (application/offer) if the bidder is the highest bidder at the end of the bidding period (conclusion of a purchase contract subject to a condition precedent). Bidders may submit bids for the corresponding vehicle in competition with one another.
3.5 After submitting the bid, the bidder will receive a confirmation email detailing the relevant key points (vehicle type, model, etc.) and also the purchase price owed, should the bidder win the auction and should a purchase contract be concluded. The bidding increments (i.e. the minimum amount by which you can outbid another bidder) are determined by INSIDERAUCTIONS before the auction begins.
3.6 The bidder has no right of withdrawal. There is no ‘cooling off’ period for bids, nor can bids be canceled or withdrawn. The bidder is bound by all bids made and is obliged to pay the purchase price if they are the highest bidder at the end of the bidding period.
3.7 Bidders will usually be immediately notified by email or via other appropriate means if they have been outbid. However, INSIDERAUCTIONS cannot guarantee the timely delivery of such notifications. If a bidder would like to be notified about the status of an auction in real time, they should follow the auction on the INSIDERAUCTIONS website. The bidder acknowledges that even if they follow the auction on the website, no real-time guarantee can be given. If a bid is placed in the last three minutes before the bidding deadline, the auction will be extended by another three minutes.
3.8 A minimum price will be set for all vehicles, which INSIDERAUCTIONS will accept as a minimum bid (so-called “reserve price”). The reserve price will be treated confidentially. The bidder’s highest bid must necessarily equal or exceed the “reserve price” in order to be awarded the contract. The bidder acknowledges that the vehicle will not be sold if the “reserve price” is not reached. In this case, the bidder has no right to acceptance of the bid. The highest bidder will only be informed by e-mail after the end of the auction whether the reserve price has been reached.
The bid made by the highest bidder at the end of the bidding period automatically wins, provided that the “reserve price” has been reached. When the bidding period ends (i.e. when the bid is accepted), the contract subject to a condition precedent becomes a legally valid, binding purchase contract between INSIDERAUCTIONS and the bidder. If there are differences of opinion pertaining to the bid (in particular if a bid could not be accepted for technical reasons), the decision on binding acceptance/the bidder’s acceptance lies exclusively with INSIDERAUCTIONS. The website may be temporarily unavailable or only available to a limited extent due to maintenance work or other reasons, without this establishing any legal grounds for claims by the bidder against INSIDERAUCTIONS.
3.9 INSIDERAUCTIONS can irrevocably cancel an auction even after the auction has begun. INSIDERAUCTIONS reserves the right to accept a bid with a reservation under special circumstances. If the bid is accepted with reservations, the bidder is bound to their bid for a period of 14 days. INSIDERAUCTIONS is obliged to issue a statement within 14 days confirming whether the bid is final (and thus a legally binding purchase contract is concluded) or whether it is no longer valid.
3.10 It is at INSIDERAUCTIONS’s sole discretion to determine the winning bidder, repeat the auction, cancel the sale or re-offer and sell the vehicle.
3.11 INSIDERAUCTIONS does not accept any liability for bids that are not accepted or for the restricted use of the website and the auction platform by bidders.
4.1 Ownership of an auctioned vehicle is transferred to the buyer as soon as the purchase price (including VAT) is paid into INSIDERAUCTIONS’ account. Use and risk of the item purchased are both transferred to the buyer immediately after receipt of payment. The buyer is responsible for all risk of loss or damage and insurance when the bid is won and thereafter.
5.1 Unless otherwise agreed, the purchase price is always due net, i.e. excluding VAT. For exports, this is calculated based on the destination country (delivery) and is to be paid by the buyer. Any applicable taxes, duties, import duties, charges and any other required payments due on importation of the vehicle or due to another party at the final destination must be paid by the buyer.
5.2 The buyer’s premium is a fee owed by the buyer in addition to the net purchase price. Unless otherwise agreed in writing, the buyer’s premium fee amounts to 2.5% of the net purchase price (i.e. excluding VAT). The winning bidder explicitly and irrevocably agrees to pay a buyer’s premium of 2.5% (of the net purchase price) to INSIDERAUCTIONS for its services. INSIDERAUCTIONS is entitled to increase the fee at any time and without prior notice.
6.1 The winning bidder (i.e. the buyer) will receive an invoice for payment of the purchase price (and taxes) by email after the auction has ended. The purchase price must be paid within five calendar days of the end of the bidding period. Any transport and shipping costs are invoiced separately.
6.2 The buyer is in default without having received a prior reminder if the purchase price is not paid within five calendar days of the bid being accepted. INSIDERAUCTIONS is entitled to charge default interest of 10% p.a. from this point in time.
6.3 If the purchase price (including taxes) is not paid or is not paid on time, INSIDERAUCTIONS may either continue to demand fulfillment of the purchase contract or waive the buyer’s performance without a grace period and withdraw from the purchase contract or demand compensation for non-performance. If INSIDERAUCTIONS claims damages from the buyer, INSIDERAUCTIONS shall be entitled to either privately sell the item or sell it at a new auction without a reserve price and to use the proceeds to reduce the buyer’s debt (as part of the buyer’s obligation to mitigate damages). The buyer is liable to INSIDERAUCTIONS for any damage that arises in connection with non-payment or late payment.
7.1 The buyer is required to collect the auctioned vehicle from INSIDERAUCTIONS at their own expense during normal opening hours and within 10 days of receipt of payment. The place of fulfillment for the purchase contract is INSIDERAUCTIONS’ registered office. Surrender shall only take place following full payment of the purchase price including VAT.
7.2 If the 10-day collection period is not adhered to, the buyer will be charged a daily storage fee of CHF 50 per day. INSIDERAUCTIONS accepts no liability for damage to the vehicle or for any accidents.
7.3 If the vehicle is not collected by the buyer within three months of the end of the bidding period, INSIDERAUCTIONS is entitled to auction the vehicle and keep the storage fee and any other charges. If the buyer does not collect the vehicle within three months of the end of the bidding period, the buyer owes INSIDERAUCTIONS a contractual penalty of 2% of the purchase price (excluding VAT) for late collection.
7.4 INSIDERAUCTIONS is happy to assist you with transportation. However, all transportation costs must be paid by the buyer in advance, i.e. before delivery. All transportation orders must be sent to INSIDERAUCTIONS in writing. The vehicle must be insured by the buyer at the buyer’s expense when the bid is accepted, i.e. transportation must also be insured at the buyer’s expense.
8.1 INSIDERAUCTIONS asks that the buyer checks the condition of the vehicle or has it checked by a third party before submitting a bid. Please email customer services at contact@insider-auctions.com to arrange a viewing.
8.2 A condition report will be compiled for each vehicle in German. A condition report does not constitute a legally binding assurance by INSIDERAUCTIONS. The condition report only serves to give the bidder an overall picture and a non-binding assessment of the condition of the vehicle. The condition of the vehicle at the time when the bid is accepted is the determining factor. INSIDERAUCTIONS makes no assurances or guarantees in connection with the vehicle or the report. The report does not alter these Terms and Conditions of Auction which govern bidding, and in the event of any inconsistency between these Terms and Conditions of Auction and the report, these Terms and Conditions of Auction shall take precedence.
9.1 Vehicles are auctioned in the condition they are in at the time the bid is accepted. Vehicles are auctioned ‘as available’ and ‘as seen’. Unless otherwise stated, auctions are not for new vehicles. Therefore vehicles are no longer in as-new condition.
9.2 INSIDERAUCTIONS makes no assurances or guarantees in connection with the vehicle or the condition report. The condition report does not alter these Terms and Conditions of Auction which govern bidding, and in the event of any inconsistency between these Terms and Conditions of Auction and the condition report, these Terms and Conditions of Auction shall take precedence. In addition, item descriptions are provided to the best of our knowledge and belief.
9.3 INSIDERAUCTIONS is only liable for damage caused intentionally and through gross negligence. In the case of personal injury, it shall also be liable in the case of slight negligence, insofar as it is at fault. Any further liability, including for indirect damages, lost profit, loss of data and consequential damages, is excluded to the extent permitted by law.
9.4 INSIDERAUCTIONS is not liable for the currency, accuracy, lawfulness and completeness or quality of the content of websites that can be reached via links on the website, and any liability in this regard is excluded.
9.5 INSIDERAUCTIONS disclaims all warranties as to the condition, previous use or ownership, manufacturing or restoration processes, year, serial number and mileage. Any liability for suitability for a specific purpose is also excluded.
9.6 INSIDERAUCTIONS strives to ensure proper operation of the auction platform with a high level of availability. However, it does not guarantee the uninterrupted availability of the auction platform, nor is it liable for technical failures or restrictions on the website. If the operator is unable to meet its contractual obligations due to force majeure or technical faults caused by third parties (e.g. hackers), there is no entitlement to contractual fulfillment for the duration of the event and therefore no entitlement to compensation on the part of the affected bidder.
10.1 INSIDERAUCTIONS and the bidder undertake to comply with the relevant data protection regulations. INSIDERAUCTIONS is entitled to collect, process and use the bidder’s personal data and, if necessary, personal data concerning their employees or third parties for any purposes relating to contractual fulfillment. Consent also covers use for marketing purposes. The privacy policy forms an integral part of these GTC.
10.2 INSIDERAUCTIONS reserves the right to transfer individual or all rights and obligations from these GTC to a third party or to have them exercised by a third party. However, the bidder is not entitled to transfer rights and obligations from these GTC to third parties.
10.3 INSIDERAUCTIONS reserves the right to publish photos and other images of items sold in its own publications and in the media and to use them for advertising purposes. All content accessible via the platform (text, image, video and audio data, graphics, program code, concepts, etc.) is legally protected, unless explicitly stated otherwise. All rights to this content are owned by INSIDERAUCTIONS or third parties. If the rights are held by third parties, they have granted INSIDERAUCTIONS the respective rights of use.
10.4 INSIDERAUCTIONS grants the bidder the necessary rights of use to use the auction platform as specified in the contract for the duration of the contract, to the required extent and in the form of a non-exclusive, non-transferable, personal license, revocable at any time, for the intended use.
10.5 The above terms and conditions form an integral part of each individual purchase contract concluded as a result of the auction, and apply each individual time a bidder participates in an auction or visits the website.
10.6 Should individual provisions of these GTC be invalid and/or ineffective either in whole or in part, the validity and/or effectiveness of the remaining provisions or parts thereof shall remain unaffected. Invalid and/or ineffective provisions shall be replaced by provisions that come as close as possible to the meaning and purpose of the invalid and/or ineffective provisions in a legally effective manner.
10.7 In the event of any discrepancies, contradictions or questions of interpretation regarding enforceability between the German language version and another language version of these GTC, the German version shall always take precedence.
10.8 These GTC and any changes thereto are subject to Swiss law with the exclusion of conflict-of-law rules and the Vienna Convention (UN Sales Convention).
10.9 Any disputes arising out of or in connection with these GTC (including their validity, legal effect, interpretation or performance) shall be subject to the exclusive jurisdiction of the courts at the principal place of business of INSIDERAUCTIONS, unless mandatory law provides otherwise for another place of jurisdiction. INSIDERAUCTIONS is also entitled to take legal action against the bidder or buyer where they have their registered office or place of residence.
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