Auction of movable property - silver cup ‘21st Century Renaissance’ by Oļegs Auzers

The insolvent credit institution Baltic International Bank SE, reg. no. 40003127883, registered office: Marijas iela 2A, Riga, LV-1050, administrator Linda Sniega-Svilāne, is selling, in sequence, at the first auction with an ascending bid, the movable property belonging to the credit institution Baltic International Bank SE, reg. No. 40003127883, the following movable property – a work of art: a silver cup entitled ‘21st Century Renaissance’ created by Oļegs Auzers.

Valuation of the movable property and starting price of the auction: EUR 200,826.45, excluding VAT. Auction bid increment: EUR 2,100.00.

The auction will begin on 16 October 2026 at 13:00 and will close on 16 November 2026 at 13:00.

The auction price of movable property is subject to value added tax.

All persons wishing to participate in the auction must, by 5 November 2026 (inclusive), make a payment to AS BluOr Bank, account no. LV77CBBR1130131400060, SWIFT code: CBBRLV22, beneficiary: Baltic International Bank SE, reg. No. 40003127883, a security deposit of EUR 20,082.65 and, via the electronic auction platform, submit a request to the administrator to authorise their participation in the auction.

The auction winner must pay the highest bid price, less the deposit paid, within two working days of the auction closing. At the request of the successful bidder, the administrator may defer payment of the full purchase price and value added tax for a period of up to seven days.

By registering for the auction, the bidder confirms that they have read the auction rules, including its annexes and contents, and have familiarised themselves with the circumstances set out in the auction rules in which the auction deposit will not be refunded to the bidder or the bidder will forfeit the rights acquired as a result of the auction to participate in the auction and to purchase the movable property.

The successful bidder must arrange for the removal of the movable property themselves. The credit institution does not provide any guarantee and accepts no liability for any defects that may come to light after the purchase of the movable property. The movable property may be viewed in person at the Museum of the History of Riga and Navigation, Palasta iela 4, Riga, LV-1050, by arranging a viewing time in advance by calling 67000444 or by emailing info@bib.eu.

Information on the auction procedure and the conditions under which individuals may register to take part in the auction and participate in the bidding is available on the website: https://izsoles.ta.gov.lv. The auction is being held in accordance with the auction rules drawn up by the administrator.