The P.S.I. Pferdesportorganisationsgesellschaft mbH, hereinafter referred to as P.S.I. or the Seller,
49170 Hagen a.T.W., Am Borgberg 3, Germany, is the organizer of the auction and sells the horses
under its own name and for the account of the exhibitors (commission business).
These terms and conditions of the auction form the basis for the legal relations between P.S.I. and the purchaser.
This auction is a public auction within the meaning of sections 474 (2), 312g (2) no. 10 of the German Civil Code (BGB),
at which horses are sold as used goods in the legal sense.
The provisions governing consumer goods purchases (sections 474 ff. BGB) do not apply.
During the auction, the horse for sale will be shown under saddle or in hand.
Bidding is conducted in euros.
At the beginning of each auction, the minimum bid is set by P.S.I. and the auctioneer.
Each bid must exceed the previous one by at least EUR 250, unless the auctioneer sets a different increment.
Upon the fall of the hammer, a contractual relationship between the purchaser and P.S.I. is established
in accordance with these terms and conditions.
The purchaser must sign the contract note, which records the purchaser’s name,
the catalogue number of the horse, and the price of adjudication (purchase price).
Based on the knockdown, the purchaser shall pay the amount due as calculated in section C.
Any doubts about the validity of a knockdown must be raised immediately,
but no later than before the knockdown of the last horse of the auction.
An invalid knockdown may be cancelled and the bidding resumed by decision of P.S.I.,
even if the contract note has already been signed.
If the purchaser fails to sign the contract note, the horse may, at the discretion of the P.S.I. representative,
be auctioned again. The first purchaser remains liable to P.S.I. for any shortfall.
In addition to the purchase price, the purchaser shall pay a commission fee of 8 % of the purchase price per horse.
The total amount due is calculated as follows:
Purchase price
8 % commission fee
= Net amount
19 % VAT pursuant to German tax law
= Total amount payable
The total amount is due immediately.
Payment is deemed in default 14 days after conclusion of the contract (i.e. after the knockdown).
In individual cases, other arrangements may be made in writing with the auction management.
If payment is made by cheque, all resulting costs and interest are borne by the purchaser.
Cheques are accepted on a collection-only basis.
Set-off against counterclaims is excluded unless such claims are undisputed or finally adjudicated.
Where the purchaser is a merchant, they waive their rights under sections 273 and 320 BGB.
The horses offered for sale are sold as seen and have the following agreed characteristics:
Pedigree as stated in the catalogue. Pedigrees are supported by official breeding certificates,
which will be handed over to the purchaser.
Sex, colour and year of birth as stated in the catalogue.
Images and descriptions in the catalogue – including references to a horse’s main aptitude
(dressage / jumping / eventing) – do not constitute guarantees or warranties in the legal sense.
They are based on non-binding information from exhibitors and subjective impressions at the time of printing.
All measurements are approximate and do not constitute a defect if deviated from.
P.S.I. reserves the right to correct catalogue information in writing at the auction venue and orally via the auctioneer.
Corrected information replaces previous catalogue descriptions.
P.S.I. assumes no warranty or guarantee for specific traits or intended use.
The horses offered for sale have undergone a clinical and radiological examination before delivery to the auction.
X-rays were taken in the following standard projections:
Front feet (90°) and oxspring (0°)
Hind feet (90°)
Hocks (45°–70°, 90°–115°)
Stifles (lateral view)
A veterinary examination report has been prepared by two equine veterinary specialists.
Both the report and X-rays can be inspected at the auction office.
Upon request, the purchaser may have them interpreted by a veterinarian of their choice or by the auction veterinarians.
The findings of this clinical and radiological examination constitute the agreed state of health.
The purchaser acknowledges that standard radiographic projections do not capture all possible findings.
Further veterinary evaluations are not part of this agreement.
Licensed Stallions
For licensed stallions, the following additional breeding soundness criteria apply:
Proper condition of sexual organs (palpation),
Mating ability,
Fertilization ability.
P.S.I. does not determine any further characteristics regarding performance, health or other properties.
Information provided orally or in writing does not constitute assurances, guarantees or contractual qualities,
but serves exclusively for non-binding information.
The purchaser loses any rights relating to a defect unless they notify P.S.I. in writing within three months
after the day of the auction or send such notice by registered mail with return receipt.
The date of posting determines compliance with the deadline.
The purchaser loses their rights regarding deficiencies in breeding soundness (see D II 2) unless they notify P.S.I. in writing of:
deficiencies of the sexual organs within 8 weeks,
deficiencies of mating ability within 6 months,
deficiencies of fertilization ability within 9 months
after the day of the auction, or send such notice by registered mail with return receipt.
The date of posting determines compliance with the deadline.
The forfeiture does not apply if the seller has fraudulently concealed the defect.
In disputes concerning the breeding soundness of licensed stallions,
the purchaser must, within two weeks after written rejection of the complaint,
apply for an expert opinion from the University of Veterinary Medicine Hannover.
The decision of the institution shall be binding on both parties (arbitrator’s finding),
subject to appeal in the case of obvious error.
The request must be sent by registered mail with return receipt; the mailing date is decisive.
If the purchaser fails to meet this deadline, all rights arising from the reported defect are forfeited.
Costs are borne by the seller if the complaint is upheld, otherwise by the purchaser.
The purchaser or their authorized representative must take possession of the horse immediately after signing the contract note.
With the knockdown – which substitutes for transfer of possession – the risk passes to the purchaser, even if the horse remains in P.S.I.’s custody.
Ownership passes only upon full payment of the total amount.
If the horse remains in P.S.I.’s custody under special agreement,
the purchaser must conclude a separate boarding agreement with P.S.I.
P.S.I. will arrange insurance and transport of the auctioned horses
only upon written instruction from the purchaser and at their expense and risk.
I. Liability is limited to the agreed qualities described in section D; claims for reduction of purchase price are excluded.
P.S.I. accepts no responsibility for the accuracy or completeness of veterinary findings or diagnoses.
II. Claims for damages are limited to:
transport costs from the auction stable to the buyer’s stable within Germany,
customary boarding costs,
costs of the first veterinary examination and farrier costs.
III. Any further liability – even in connection with a boarding agreement – is excluded,
unless it arises from:
culpable injury to life, body or health,
fraudulent concealment or warranty of specific characteristics,
gross negligence or intent by P.S.I. or its representatives.
In cases of negligent breach of essential contractual duties (cardinal obligations),
P.S.I. shall be liable also for slight negligence,
but limited to the foreseeable, contract-typical damage.
All other liability or compensation claims are excluded,
including reimbursement for training, replacement or other financial losses.
Before the auction, purchasers have sufficient opportunity to inspect and try the horses.
Except for the quality agreement under D, all horses are sold as seen,
excluding any further liability or warranty.
Contrary to section 438 (1) no. 3 BGB, the purchaser’s warranty claims expire 12 months after handover.
The purchaser agrees that their name, address, and purchases
may be stored and processed electronically by P.S.I.
for the execution and administration of the contract
and for information about future auctions and offers.
The purchaser may revoke this consent at any time by notifying P.S.I.,
with effect for the future.
If one or more provisions of these terms should be or become invalid,
the validity of the remaining provisions shall not be affected.
Invalid provisions shall be replaced by valid ones
that best achieve the intended economic purpose.
All rights and obligations arising from or in connection with this contractual relationship
shall be governed by German law (BGB/HGB).
The application of the UN Convention on the International Sale of Goods (CISG) of 11 April 1980 is excluded.
If the purchaser is a merchant and the business relationship concerns their trade,
the place of jurisdiction is Osnabrück, Germany (P.S.I.’s registered office).
However, P.S.I. is also entitled to bring action at the purchaser’s place of business.
These General Terms and Conditions are available in German and English.
In the event of discrepancies, only the German version shall apply;
it shall also be decisive for the interpretation of the English version.