More articles

I am required to pay a deposit when purchasing from a German auction with a business account. Why?

Key Information:

If you are buying from a German auction with a business account, a deposit/security is mandatory. The German government requires this to ensure that the lot is genuinely exported, and the associated document is essential for this purpose.

If you are exporting the lot and seeking a deposit refund, please follow these steps:

  • Download the document located at the bottom of this article.
  • IMPORTANT: Complete all fields on this document.
  • Sign and stamp the document.
  • Send the fully completed document via email to export.de@troostwijkauctions.com within 7 days of collecting your lots.
  • Upon receiving the complete and accurate documents, we will expedite the refund to the account from which it was received as swiftly as possible.

For additional context, refer to the relevant excerpt from our terms and conditions below:

5.1.2 Buyers from EU countries other than the Federal Republic of Germany must provide Troostwijk with written proof of their valid international VAT identification number along with a copy of their legal representative's or owner's identity card or passport before submitting their bids. After presenting the complete documents and successfully accepting the bid, the Buyer will receive an invoice for a tax-free intra-Community delivery. In addition to the amounts stated in clause 5.1, the Buyer shall pay a security deposit equal to the VAT rate applicable in the Federal Republic of Germany on the net purchase price. If the Buyer provides complete and undisputed proof of the legal requirements for a tax-free intra-Community delivery shortly after collecting the purchased item, Troostwijk will refund the security deposit after a reasonable examination period. If, after this period, Troostwijk does not possess proof of the legal requirements or the proof is incomplete or contradictory, Troostwijk reserves the right to cancel the current invoice, issue a new invoice showing VAT, and arrange for the security deposit to be paid as VAT to the competent tax office in the Federal Republic of Germany.

We are happy to help you