Terms and conditions

1. The Scuderia SA Auction (hereinafter “the Auction”) is an online auction for jumping horses, foals and implanted embryos organized by Scuderia SA Ltd., a company organized under the laws of Hungary and registered under No. 13-09-203935, having its registered seat at H-2073 Tök, Kis sor 21. 

2. Scuderia SA Ltd. sells its own foals, implanted embryos, and young horses through its auction.

3. Participation in this auction implies the explicit and reservation-free knowledge and acceptance of these auction conditions.

4. The Auction will take place on the website www.scuderia-sa.auction (hereinafter “the Website”). Buyers must register themselves via the Website before being allowed to participate in the Scuderia SA Auction. This registration counts as unconditional acceptance of the auction conditions. Furthermore, by participating in an auction, the buyer declares to be authorized to perform legal acts and the buyer declares himself authorized to conclude a purchase agreement with regard to the horse/foal/embryo in question. Scuderia SA Ltd. reserves the right to refuse registration and participation in an auction at any time or to terminate it unilaterally. At Scuderia SA’s first request, the purchaser must submit valid proof of identity, in the absence of which the purchaser may not participate in the auction. The purchaser is obliged to ensure that all information to be provided by the bidder to Scuderia SA Ltd. upon registration is filled in completely, correctly and truthfully and the purchaser guarantees the correctness and completeness of the information provided by him. Should this information change at any time, the purchaser is obliged to immediately inform Scuderia SA Ltd. of such change(s). The user name and password used by the purchaser for an auction are strictly personal and may not be transferred by a purchaser to third parties. If the purchaser suspects that someone else knows his or her password, the bidder must immediately inform Scuderia SA Ltd. The buyer is liable for and bound by all transactions which take place at an auction and which result from the use of his/her password and/or user name, also in the event of misuse if the buyer has handled his/her user name and password carelessly.

5. The buyer is aware and expressly agrees that the services available via the website are limited to making it technically possible to follow the auction via the internet and to participate in the auction as a bidder. Scuderia SA Ltd. has no responsibility whatsoever for the organisation and course of the auction via its website (for example and without wanting to be exhaustive: the failure of the website during the auction or the delay in the operation of the website during the auction). Scuderia SA Ltd. makes every effort to secure its systems against loss of data and/or against any form of unlawful use and will take appropriate technical and organisational measures to this end. In his dealings with Scuderia SA Ltd. the buyer is obliged to adequately secure the computer and/or any other device that he uses to gain access to the auction website and, as usual, to protect it against viruses or other unlawful programmes or files that may be spread via the internet.

6. The auction lots shall be auctioned in the state they are in at the time of the auction.

7. The sale shall be made in accordance with the laws of Hungary by means of auctioning and knocking down to the highest bidder after payment of the settlement amount, whether or not to be increased by VAT. The auction shall be supervised by an Auctioneer to be designated by Scuderia SA Ltd., who shall draw up an official report of the knocking down.

8. Bids and payments are made in EURO.

9. The bids are made by auction (per 500.00 EUR to 20,000.00 EUR, per 1,000.00 EUR up to 50,000.00 EUR, per 2,000.00 EUR from 50,000.00 EUR and per 5,000.00 EUR from 100,000 EUR).

10. 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 again be automatically extended to 5 minutes. The extended time will become the new indicative closing time.

11. The auction lots shall be knocked down to the highest bidder at the end of the auction. With regard to the Purchaser, the settlement price shall be calculated as follows: the knocking down price plus any applicable VAT. By making a bid, the bidder undertakes to pay the settlement amount after the knocking down.

12. In addition to the allotment price, the buyer will pay Scuderia SA Ltd. a percentage of 10% (excluding VAT) of the allotment price by way of commission and organisation and administration fee in the auction costs. Scuderia SA Ltd. will give the buyer an invoice for these services, the amount of which is to be promptly transferred into the account of Scuderia SA Ltd., previous to the delivery of the horse to the buyer.

13. 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. The private buyer/consumer has a right of withdrawal of 14 days. The initial buyer is obliged to pay Scuderia SA Ltd. the costs involved in this resale, at least the difference in the purchase price that was not realised during the resale.

14. If the buyer cannot be identified, Scuderia SA Ltd. is entitled to resell the auction lot.

15. The provisional knocking down shall be made under the condition precedent of approval by Scuderia SA Ltd. Immediately after the knocking down of the auction the Auctioneer shall request Scuderia SA Ltd. to confirm its eventual approval in order to obtain the final knocking down of the auction lots.

16. The settlement amount shall be due immediately upon the knocking down. The ownership of the auction lot shall be transferred at the moment of receipt of payment by the Purchaser by Scuderia SA Ltd.

17. Scuderia SA Ltd. shall issue an invoice to the Purchaser, which invoice shall be payable by bank transfer and must be settled on the account of Scuderia SA Ltd. prior to the delivery.

18. If Scuderia SA Ltd. has not received full payment from the Purchaser within 5 working days from the auction, the Purchaser shall be legally in default and obliged to make, in addition to the other amounts owed to and in favour of Scuderia SA Ltd., (a) an interest payment of 1% per month on the total settlement amount due to be calculated from the day of the auction until the day of full payment and (b) to pay additional damages amounting to 10% of the settlement amount.

19. If Scuderia SA Ltd. has not received full payment from the Purchaser within 5 working days from the auction, Scuderia SA Ltd. shall also be entitled to consider the purchase terminated without notice of default, with the possibility for Scuderia SA Ltd. to charge fixed damages of 20% on the settlement amount.

20. Any liability with regard to the auctioned lots shall pass to the Purchaser immediately after they have been knocked down. After the auction and payment, the Purchaser and Scuderia SA Ltd. shall come to an arrangement for the delivery of the lots in mutual consultation.  The delivery shall take place in Hungary at the address of the registered office of Scuderia SA Ltd. unless agreed otherwise in writing between the parties hereto. Any transport costs shall be borne by the Purchaser.

21. Scuderia SA Ltd. draws the attention of the purchaser to the fact that the purchaser has the option of taking out insurance with Catherine De Buyl Insurance immediately after purchase.

22. Scuderia SA Ltd. shall ultimately settle any and all such disputes as may arise during the auction transactions with regard to the sale.

23. The Purchaser cannot derive any right from the fact that Scuderia SA Ltd. selected the auction lots and, when deemed necessary, subjected the horse to a veterinary examination at its request.

24. The information provided about the horses offered for sale is exclusively intended to give an impression of the qualities of the horses, without pretending to be complete and without offering any guarantees. Scuderia SA Ltd. is not liable for any printing mistakes and/or material errors in the auction catalogue or on its website and online catalogue.

25. Scuderia SA Ltd. shall not be liable for any visible and/or hidden defects. In any case, the liability of Scuderia SA Ltd. shall be limited to the maximum amount paid by the Purchaser and to the amounts covered by its insurer.

26. The embryo offered for sale was implanted in a carrier mare and is sold with a guarantee of 45 days pregnancy. The buyer of an embryo pays, in addition to the settlement amount, a rental fee of 3,000.00 EUR for the recipient mare. The recipient mare is to be delivered to either the premises Scuderia SA Ltd. or a place appointed by Scuderia SA Ltd. in Europe in perfect condition and at the latest 180 days after the birth. The transport of the recipient mare is at the expense of the Buyer, unless otherwise agreed.

27. In case of the sexing procedure of implanted embryos, the determination of the sex is based on the ultrasound examination of a third-party veterinary professional. The result of the examination is by nature not entirely certain.

28. The buyer is aware and expressly agrees that the sex of the embryo shall be merely for information purposes. Should this information change at any time, Scuderia SA Ltd cannot be held liable.

29. In the event of export, the Purchaser shall submit a valid export document within 3 months from the auction if not otherwise agreed between both parties in writing; otherwise the VAT due shall still be charged by Scuderia SA Ltd. to the Purchaser.

30. Scuderia SA Ltd. reserves the right to modify these Auction Terms and Conditions without prior notice. Should one or more of the provisions stated in the Auction Terms and Conditions not be legally valid or become legally invalid, the remaining provisions shall continue to be legally valid. In that case, a new provision shall replace the aforementioned provision that is not legally valid, which will correspond as much as possible to the old provision that is not legally valid with regard to content, scope and purpose.

31. In the event of a dispute, only the English text shall apply. The translation of these Auction Terms and Conditions into a language other than English shall be merely for information purposes.

32. In the event of a dispute, related to the auction, should occur between the Seller and the 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 Central District Court of Pest (Pesti Központi Kerületi Bíróság) will be exclusively competent. To the relationship between the Seller and the Buyer Hungarian law applies.