INFORMATION FOR BUYERS
How do I register a User Account?
- Registration of a User Account on the website is free.
- You may register as an individual user or a company. You may edit your data later.
- After filling in all the required fields, accepting the Terms and Conditions and Privacy Policy and submitting your application, you will receive an email asking you to confirm your registration. After completing this formality, all you need to do is to log in and use all the functions of the Auction and other services available on the website.
What is Test Auction?
- You are welcome to use Test Auction which you will find in Auction Catalogue.
- The Test Auction is a simulation of the Auction system available on the Arabian Horse Treasury website and it has been created for new users to help them understand the bidding process and how auctions work. Of course, by using the Auction Test, Users are not actually buying or committing to anything. Feel welcome to bid freely!
How to bid?
- Make sure you are logged in
- Go to the desired Auction.
- Click on a horse (Lot) in the Auction Catalogue.
- Click on the PROCEED TO BIDDING button, enter the desired amount in the price field (all bids are in CHF) and click on the BID button
- Each Lot has a minimum price, the starting price. This is a fixed price (there is no reserve price). The bidding starts from this amount.
- Bids must be submitted in multiples of the bid amount specified by the Auction (e.g. if the bid amount is CHF 200, you can outbid the previous bid by a minimum of CHF 200 or in multiples of 200)
- An automatically generated information on how your bid is calculated will appear.
- The next step is to select one of the options shown on the "DIRECT BID" or "AUTOMATIC BID" buttons. If you choose direct bidding (Direct Bid), a single bid will be placed. If you choose automatic bidding (Automatic Bid) and set your price limit, the system will always bid on your behalf by placing the lowest bid until you win the auction or your maximum Bid is reached. You can bid on multiple lots simultaneously and set the automatic bidding on each of your bids.
- After placing your bid you will receive an automatically generated e-mail confirming that the system has accepted your bid. If you are outbid you will receive another email. The link in the email will take you directly to the horse(s) in question, where you can bid again.
- Incoming bids are recognised in the time order in which they are placed. When two or more bids of the same amount are received, the horse(Lot) will be sold to the first bidder (earliest bid).
- The clock counts down to the end of the Auction (00:00:00:00 signifying the end), if a bid is placed 5 minutes before the end of the Auction (00:00:05:00) then the bidding time for that horse(Lot) is automatically extended by 5 minutes, if a bid is placed within those 5 minutes then the Auction will again automatically extend by another 5 minutes, this will continue until no new bids are placed within the last 5 minutes.
What happens when you win the Auction?
- When you win the bidding for a Lot you will receive an email confirming that you have won the Auction. The next email will contain payment information, bank transfer details and the details of the Horse Owner and their Representative (if applicable).
- After the completion of all formalities described in The Terms and Conditions of the Horse Treasury's Internet Platform, Paragraph 16. Collection of Lot, the Seller and the Buyer individually agree on the terms of the collection of the horse.
How will you pay?
Payment system:
- The Owner of the horse bears the cost of his Representative fee as well as the costs of the Arabian Horse Treasury's commission. Horse Owner provides payments instruction along with their and their Representative's (if applicable) bank details in the Declaration of Payment Splitting while registering horse for the Auction.
- After you win the bidding you will receive an email confirming that you have won the Auction. The next email sent by Arabian Horse Treasury you will receive payment information, bank transfer details and the details of the Horse Owner and their Representative (if applicable).Based on this information you will proceed with payment for the Lot you have won.
- To assure the transparency of the transactions Arabian Horse Treasury uses a system which directly distributes the payments due to all parties involved in the transaction thereby preventing financial intermediaries. For this reason it is in the hands of a Buyer to send separate bank transfers to two or three different recipients:
-
- Horse Owner
- Arabian Horse Treasury
- Horse Owner Representative (depending on whether the Horse Owner had a Representative)
- Once you have won the Auction, your details will be passed on to the Horse Owner and their Representative (if applicable).
- If the Horse Owner or their Representative is subject to VAT you will receive the invoice via email.
- If the Owner or their Representative is not a subject to VAT, the payment should be made on the basis of the data sent by Arabian Horse Treasury via email.
- After receiving the payment, the Owner or their Representative (if applicable) are required to send a confirmation of receipt of payment by email to Arabian Horse Treasury at the email address auction@arabianhorsetreasury.com.
- Only after all payments have been made by the Buyer and confirmed by each of the parties involved in the transaction, the ownership of the horse is considered to have passed to the Buyer and the Buyer has the right to collect the horse from the Seller.
- After the completion of all formalities described in The Terms and Conditions of the Horse Treasury's Internet Platform, Paragraph 16. Collection of Lot, the Seller and the Buyer individually agree on the terms of the collection of the horse.