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ALGEMENE
VERKOOPSVOORWAARDEN

the Buyer participates in the Sale and acquires a Lot via the online platform Invaluable.
5.5. Prices shown are inclusive of VAT. All sales are subject to the special margin scheme,
non-deductible VAT (s. 4, art. 58, VAT Code). 5.6. In accordance with Articles XI. 175 and
XI. 176 of the Commercial Code, a resale right payable by the Buyer may be due in certain
circumstances. The resale right applies to artists from member countries of the European
Union and from countries outside the European Union where, according to domestic law,
the resales right applicable, lasting up to 70 years after the year of the artist's death, for
Lots for which the auction price is at least €2,000. The resale right is collected by VDK and
passed on to the bodies authorised to collect these, as provided for by current legislation.
This is calculated as follows, with the total amount not exceeding €12,500: • 4% on the
auction price of up to the first €50,000 inclusively; • 3% on that portion of the auction price
from €50,000.01 to €200,000 inclusively; • 1% on that portion of the auction price from
€200,000.01 up to €350,000 inclusively; • 0.5% on that portion of the auction price running
from €350,000.01 up to €500,000 inclusively; • 0.25% on the portion of the auction price
above €500,000. If, after the Sale, it turns out that a Lot not advertised as such is subject to
the resale right in accordance with the law, VDK will be legally obliged to claim the resale
right from the Buyer at the time of payment, removal or even after removal. All Buyers
expressly waive any recourse of any kind and irrevocably undertake to pay the resale right
on VDK’s first request.
6. Payment
6.1. Invoices are payable in cash, without discount. The full amount owed by the Buyer must
be paid in euros, into one of the accounts in VDK’s name. Invoices shall be deemed to be
validly sent to the Buyer’s address as stated by the latter, who must also notify VDK of any
change of address. 6.2. In accordance with Section 2, Article 67 of the Law of September
18, 2017, regarding the prevention of money laundering and terrorist financing and limits
set on cash payments, VDK accepts cash payments of up to 3,000 euros (three thousand
euros). If the total amount to be paid by the Buyer is above €3,000, the Buyer may pay this
amount in cash and the balance must be paid electronically (Bancontact, Visa, Master Card
and Union Pay) or by bank transfer. In the latter case, the Lot will only be delivered after
receipt of the outstanding amount. 6.3. Payment is due within 15 working days from the
date the invoice is issued. 6.4. In the event of non-payment within the period as stated in
section 6.3., the Buyer shall be liable as of right and without prior notice, to late payment
interest of 1.5% per month from the due date of the invoice until full payment, and fixed
compensation of 10% of the principal sum with a minimum of €50 as fixed damages. 6.5.
Any funds that VDK receives from the Buyer will always be used to discharge the Buyer’s
oldest debt to VDK. 6.6. Any dispute by the Buyer relating to an invoice must reach VDK
by post, within ten calendar days of the date of issue of the invoice concerned. Otherwise,
the amount of this invoice will be deemed to have been accepted without reservation and
will be due in full.
7. Collection and transport
7.1. To avoid mistakes, Lots cannot be removed during the Sale. 7.2. Lots are collected at
VDK premises within four working days of full payment being made for the Lot. In the
event of failure to pay the full amount due, VDK shall be entitled to automatically suspend
the Buyer’s right to take away the Lot concerned, without prior notice. 7.3. In the event of
failure to collect the Lot within the time limit set in section 7.2., the Lot will be stored at the
Buyer’s expense. 7.4. VDK takes the greatest care of the Lots awarded. However, neither
VDK nor any of its agents can, whatever the case, be held responsible for any damage, loss
or damage whatsoever to the Lots stored after the Sale, these being at the Buyer’s risk from
the moment of the successful bid. 7.5. The costs of transporting Lots shall be borne by the
Buyer, and the latter shall be responsible for this carriage. VDK cannot be held responsible
for any damage, loss or damage which may be due to the storage, packaging, handling or
transport of the Lots. 7.6. VDK does bear any liability with regard to the services provided
or carried out by third parties, nor with regard to invoicing for these.
8. Default of payment or removal
8.1. In the absence of payment within the period as stated in section 6.3 or in the event
of failure to collect the Lot within the period laid down in section 7.2, VDK shall, having
given formal notice by recorded delivery, be entitled to take one or several of the following
measures, at its discretion and subject to all other rights and possible action: • to judicially
compel the Buyer to pay and/or collect the Lot, where applicable, on pain of a penalty;
• to cancel the sale of the Lot and possibly other Lots acquired during the Sale or from
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