Terms of purchase
These Terms of Purchase (the “Terms”) govern all purchases made through the live auctions of Nyborgs (“Auction House”). Nyborgs is owned by Current Value AS, with its address: Bygdøy Allé 111B, 0273 Oslo. The purpose of these Terms is to create predictability and clarity for both buyer and seller, as well as to comply with all legal obligations under Norwegian law and relevant industry standards. By registering and/or participating in an auction, you as a buyer agree to be bound by these Terms.
- Definitions and validity
1.1 The auction house
Nyborgs, owned by Current Value AS (org. no. 930 516 872), with a visit address: Bygdøy Allé 111B, 0273 Oslo. The auction house arranges auctions and acts as a commissioner or as a seller on behalf of an owner/submitter.
1.2 Buyer
A natural or legal person who bids for, or buys, one or more objects during an auction.
1.3 Objects
All works of art, antiques or other items offered at Live Auctions by the Auction House.
1.4 Application of the Terms
These Terms and Conditions apply to any Live Auction conducted by Nyborgs, unless otherwise agreed in writing. Any special terms or individual agreements between the Buyer and the Auction House precede these General Terms and Conditions, but must be clearly stated in writing.
1.5 Relevant laws
The agreement is governed by Norwegian law, including, among other things, the Purchase Act, relevant consumer legislation, auction legislation, the Second Hand Trade Act, the Money Laundering Act, and any regulations governing the sale of art and antiques. In the event of a conflict between these Terms and mandatory legislation, the legislation shall prevail. - Bidder Registration and Approval
2.1 Registration
• Before participating in an auction, the Buyer is required to register a user account and provide the necessary contact and credentials.
2.2 Approval and rejection
• Nyborgs reserves the right to accept or reject new bidders without justification.
• If the Buyer has unpaid invoices, or Nyborgs questions the Buyer's ability to pay, registration and/or the possibility of bidding may be suspended or denied.
2.3 Age limit
• Participation in auctions normally requires that the Buyer is at least 18 years of age and has legal capacity to act.
• If the Buyer is under 18 years of age, written consent of the guardian or guardian is required.
2.4 Power of attorney
• Anyone attending on behalf of a company or other third party must be able to document the right of signature or power of attorney.
• In the absence of a valid power of attorney, the person himself is held responsible for all purchases.
2.5 Security check
• Buyer agrees that Nyborgs may carry out the necessary credit assessments and other checks to verify identity and ability to pay (cf. the Money Laundering Act). - Auction Objects — Description and Condition
3.1 General
• All objects are sold “as is”, unless otherwise expressly agreed in writing. The objects may have wear, signs of age, restorations or other conditions that are not always specifically indicated in the catalog or online.
3.2 Catalog and advertising
• Nyborgs usually prepares an auction catalogue (digital). Catalogue information (e.g. title, technique, artist name, age, style period, and appraisal prices) is provided in the best discretion, but is not to be regarded as binding guarantees of authenticity or condition.
• Photographs are intended as identification only and cannot be used as a complete condition report, as color reproduction and any damage may differ from the actual.
3.3 Viewing and Investigation Obligation
• Screenings are usually held in advance of the auction, either physically at Nyborgs' premises, in rented premises or digitally, so that the Buyer can examine the condition of the objects.
• Buyer is strongly encouraged to conduct a thorough investigation and to request any condition reports prior to bidding.
3.4 Condition report
• Nyborgs may, but is not obliged to, provide a condition report upon request. The report is indicative only and does not exempt the Buyer from its own investigation obligation.
3.5 Authenticity and documents
• Any certificates, provenance details or tariff documents from third parties are attached as far as available. Nyborgs is not responsible for the content of external expert reports.
• If a dispute arises about ownership or authenticity in retrospect, Nyborgs may cancel the sale, cf. clause on complaints and non-compliance. - Bidding and conducting auction
4.1 Auction form• Nyborgs holds digital streamed live auctions with auctioneers, without customers on the premises. The terms and conditions apply to Live Auctions, unless otherwise specified.
4.2 Bidding
• Bids can be submitted via electronic platforms (pre-bid or live bid/online bid) or by telephone with representatives from Nyborgs
• In case of telephone bidding, Nyborgs is not responsible for errors in telephone connection or failure to contact the bidder. If you wish to bid by telephone, please contact Nyborgs within 24 hours before the auction starts.
4.3 Estimated price and reserve price
• Each object has an estimate. This is not a guarantee of sale price, only an estimate of a potential sale price.
• The object may have an agreed minimum price (reserve) with the Seller, which is normally not announced to the Buyer. Nyborgs may terminate the bidding “subject to the seller's approval” if the highest bid is below the minimum price.
4.4 Bid steps
• The auctioneer determines the bid size (“raises”) based on the bid level.
• In the case of equal bids, the auctioneer decides which of the bidders gets the bid.
4.5 Decisive bids
• The “hammer blow” occurs when the auctioneer clubs the object. A binding purchase agreement is then being signed between Nyborgs (on behalf of the Seller) and the Buyer (based on the terms the buyer has agreed upon).
4.6 Object recall
• Nyborgs reserves the right to withdraw any object before or during the auction without prior notice.
4.7 Auctionarius' authority
The auctioneer has final and decisive authority to resolve disputes during bidding, including reopening the bidding round, rejecting bidders or refusing bids. - Purchase price, fees, fees and payment
5.1 Purchase price
• The purchase price (the “Tender Amount”) is the winning bid, as well as any fees and charges set forth in these Terms.
5.2 Costs (Fees) for Nyborgs
• In addition to the Offer Amount, the Buyer pays costs of 25% of the bid. This includes Nyborg's fee and VAT on the fee.
5.3 Art fee and consequential rights
• For works of art covered by the Norwegian Art Tax Act or the Intellectual Property Act, Cap. VIII, an additional fee may apply (“follow-on right”). This is 5% up to a certain amount, but may vary. The consequential right is added to the invoice if the conditions for the consequential right are met.
Follow-up rights (art fee)
Please note that some works of art fall under the provisions of the Copyright Act Chapter VIII. This law only covers art acquired during the artist's lifetime and continues to apply for 70 years after the artist's death. The follow-on fee is calculated according to the following rates:
• From NOK 2,000 to 50.000 Euro: 5% art fee
• From 50,000.01 euros up to 200,000 euros: 3%
• From 200,000.01 euros up to and including 350,000 euros: 1%
• From 350,000.01 euros up to 500,000 euros: 0.5%
• Anything over 500,000 euros: 0.25%
The maximum follow-on fee is 12,500 euros. The total amount of the invoice for works of art covered by the consequent right is reduced accordingly to the tax rate. For more information, see www.kunstavgiften.no.
5.4 Supplement for VAT or special charges
• Certain objects may be subject to additional taxes (e.g. import VAT, collector's VAT, second hand sales tax), which are additional for the Buyer.
5.5 Invoicing and payment deadline
• Nyborgs sends an invoice normally the day after the auction.
• The payment deadline is 3 days from the invoice date. In the case of late payment, late interest is accrued according to the Act on Interest on Late Payment (the Default Interest Act).
5.6 Non-payment
• If the Buyer does not pay within 14 days of purging, Nyborgs may cancel the purchase and/or make a cover sale at Buyer's expense and risk.
• All costs related to cover sales, including any loss of value, commissions and interest, are initially charged to the Buyer.
5.7 Third Party Payment
• Nyborgs may refuse payment to be made by someone other than the registered Buyer, for reasons of money laundering rules and identity checks.
- Pickup, delivery and risk transition
6.1 Pickup
• The Buyer can collect the objects from Nyborgs when the entire invoice has been paid and the amount has been recorded paid.
• Objects must be picked up within 14 working days after the auction takes place, unless otherwise agreed in writing.
6.2 Shipping and transportation
• Upon agreement, Nyborgs can assist the Buyer with shipment. Costs for transportation, insurance, packaging and any customs clearances are borne by the Buyer.
• All shipments are made at Buyer's expense and risk, unless otherwise specifically agreed.
6.3 Warehouse rental and unclaimed objects
• If objects are not picked up within the deadline, Nyborgs can charge storage rent of NOK 500 per week.
• In the event of a significant delay (over 10 weeks), Nyborgs may resell the object, in order to cover accrued inventory costs. Any profit will accrue to the Buyer after Nyborgs has covered all relevant expenses and fees.
6.4 Export Permit
• Buyer is responsible for obtaining necessary export/import permits for objects. Refusal of an export permit does not provide grounds for raising the purchase. - Complaints and Deficiency Liability
7.1 No right of withdrawal
• There is no right of withdrawal for purchases at Live Auction, cf. the provisions of the Right of Withdrawal Act.
7.2 Deadline for Complaints
• Buyer must give written notice of any defect within a reasonable time after the defect was or should have been discovered. Consumer buyers must advertise no later than within the deadlines set by the Consumer Purchase Act, while traders normally have to advertise within a short time from delivery.
7.3 Deficiency Definition
• A defect exists if the object is in substantially worse condition than the Buyer had reason to expect based on description, condition assessment, age wear and price.
• Minor deviations, scratches, cracks, abrasions, discoloration, etc. that are compatible with the age or use of the object are not considered a defect.
7.4 Auction House Straightening or Raising
• In the event of a shortage, Nyborgs may try to remedy it or give a price reduction.
• If the defect is material and cannot be corrected, the purchase can be raised against the return of the object in the same condition as in the case of takeover. Nyborgs' liability is limited to the refund of the Buyer's payment, including fees and accrued fees, but not any consequential costs or indirect losses. - Limitation of Liability
8.1 Limited Liability
• Nyborgs is not liable for indirect or consequential losses, including lost profits, unless otherwise provided by preceptory law.
• Any liability for Nyborgs is in any case limited to NOK 20,000.
8.2 Force majeure
• Nyborgs is not responsible for delays or non-fulfillment of obligations due to circumstances beyond the control of the Auction House (e.g. natural disasters, fire, strikes, wars, pandemics, technical failures of third parties, downtime on digital platforms, etc.). The deadline for fulfilment is extended accordingly. In case of force majeure of more than [Enter the number of months, e.g. 3 months], the purchase may be raised by both parties without the right to compensation. - Privacy and data management
9.1 Purpose
• Personal data is processed in accordance with applicable data protection legislation (GDPR, the Personal Data Act, etc.) for the purpose of managing the auction process, identifying buyers and sellers, and complying with legal requirements (including anti-money laundering rules).
9.2 Retention period
• Purchase and sale data may be kept for extended periods to document ownership history on art and antiques, as well as for historical purposes.
9.3 Marketing
• By registering, you can consent to receive newsletters, catalogs or other marketing requests. You can opt out at any time.
9.4 Transparency and rights
• You have the right to access, rectification or erasure of personal data in accordance with law. For questions, contact post@nyborgs.no. - Use of images and documentation
10.1 Photo Rights
• Nyborgs reserves the right to photograph and document objects, and to use such material in catalogues, advertisements, websites and other marketing or documentation materials, including retrospectively.
10.2 Copyright
• All images, text and other content produced by Nyborgs remain Nyborgs' property. Buyer is not entitled to make use of this material beyond purely private use, unless otherwise agreed. - Conflict resolution and disputes
11.1 Complaint Handling
• In case of disagreement with the Terms or other matters relating to the purchase, the parties are first encouraged to seek an amicable solution by writing to post@nyborgs.no.
11.2 Court Choices
• If the parties do not reach an agreement, the case may be brought before Hordaland District Court, Bergen.
• For consumer purchases, the Buyer may also bring the matter before the Consumer Council or the relevant dispute resolution body, prior to any legal process.
Nyborg (Current Value AS)
Bygdøy Allé 111B, 0273 Oslo
Oslo, 24.03.25