Payment at BR auctions: A purchase at a traditional auction has to be paid no later than eight days after the sale. You have three options for payment:
At one of our locations with a debit/credit card:
Dankort, Visa, MasterCard, Maestro, Diners Club, JCB and China UnionPay or in cash up to DKK 50,000 (approx. € 6,700).
Here at bruun-rasmussen.dk with debit/credit card:
Dankort, Visa, MasterCard, Maestro, Diners Club og JCB
Via bank transfer to our account at Danske Bank:
Kontonr.: 4183 4310970638 · Swift/BIC: DABADKKK · IBAN: DK4130004310970638
Shipping Terms: We provide customized shipping services around the world - you can request an offer regarding transport, postage or shipping from our website or at this mail: shipping@bruun-rasmussen.dk
The deadline for having your item shipped is June 20, 2018. Items that have not been collected before the stated deadline will be transferred to the Bruun Rasmussen storage facility (as stated below) at the expense of the buyer. All liability lies with the buyer.
The fee for transfer to storage is DKK 150 per item and the storage fee is DKK 150 per item per initiated week.
VAT Exemptions: Some buyers can choose which type of VAT should apply to the transaction. The choice has to be communicated to BRK no later than two working days after the purchase and cannot be changed subsequently.
Businesses registered for VAT in another EU Member State can be exempted from paying Danish VAT if it can be proved that the item has been transported to the foreign address that the buyer has registered with BRK and which is written on the invoice. In such cases, the VAT should be settled according to the rules applicable in the country where the buyer is registered for VAT. It is advisable to consult with the local authorities. The buyer can decide not to be exempt from regular VAT and instead pay Danish VAT on second-hand goods/full VAT.
Buyers residing outside the EU can be exempted from Danish VAT if it can be proved that the item has been transported out of the EU. To the extent possible and for a fee, BRK can issue the necessary export documents for the customs authorities. The buyer may decide not to be exempt from regular VAT and instead pay Danish VAT on second-hand goods/full VAT.
Companies registered for VAT in another EU Member State and buyers residing outside the EU must deposit the Danish VAT on the amount invoiced with BRK until the export process has been completed in a documented, lawful fashion. If the export is undertaken by one of BRK's authorized forwarding agents, the VAT does not have to be deposited.
Buyer's Premium + ARR + Full VAT: Buyer's Premium:
For EU residents the buyer's Premium is 24% of the hammer price + added VAT 30% in total.
For resident outside EU the Buyer's Premium is 24%.
Artist's Resale Right:
In accordance with Danish copyright law, a royalty fee covering the Artist's Resale Right has to be charged for works by newer Danish artists, and some foreign artists, who are either alive or have not been dead for more than 70 years. The royalty fee covering the Artist's Resale Right is charged on behalf of VISDA (Visual Rights Denmark). These works are marked "ARR" in the printed catalogue, and on bruun-rasmussen.dk the description of the works includes the text: "This lot is subject to the Artist's Resale Right".
The royalty fee covering the Artist's Resale Right is added to the hammer price + the buyer's premium (excluding VAT) if the amount exceeds EUR 300, as indicated below:
HAMMER PRICE + BUYER'S PREMIUM (EXCLUDING VAT) PAYMENT RATE
300 - 50,000 Euro 5%
50,000 - 200,000 Euro 3%
200,000 - 350,000 Euro 1%
350,000 - 500,000 Euro 0.5%
over 500,000 Euro 0.25%
The royalty fee covering the Artist's Resale Right cannot exceed EUR 12,500 (excluding VAT) for each item. The fee must be paid in Danish kroner, and the conversion rate (EUR/DKK) is set by VISDA.
Full VAT:
Certain items are sold at auction in accordance with the current rules regarding full VAT. In such a situation, a VAT of 25% is imposed on both the hammer price and the buyer's premium. These items are marked in the catalogue and on bruun-rasmussen.dk with the symbol "*", or with the text: "This item is subject to full VAT".
