Invitation to Submit Purchase Offers silver cup "Renaissance of the 21st Century"
The insolvency administrator of the insolvent credit institution Baltic International Bank SE, registration No. 40003127883, registered office: Marijas iela 2A, Riga, LV-1050, Latvia, Linda Sniega-Svilāne, invites interested parties to submit price offers for the acquisition of the artwork owned by Baltic International Bank SE – the silver cup “Renaissance of the 21st Century” created by Oļegs Auzers.
The appraised value of the artwork – the silver cup “Renaissance of the 21st Century” created by Oļegs Auzers – and the minimum sale price is EUR 200,826.45 excluding VAT.
The right to acquire the artwork shall be granted to the person who submits the highest purchase price offer, provided that such offer is not lower than EUR 200,826.45 excluding VAT.
Value Added Tax (VAT) shall be added to the purchase price.
The artwork may be inspected at the State Agency “Museum of the History of Riga and Navigation”, Palasta Street 4, Riga, LV-1050, during the museum’s opening hours. For enquiries: telephone +371 29298896, e-mail: info@bib.eu.
The insolvent credit institution Baltic International Bank SE provides no warranties and assumes no liability for any defects that may be discovered after the acquisition of the artwork.
The purchaser who submits the highest offer shall be issued a pro forma invoice, sent electronically and signed with a secure electronic signature to the e-mail address indicated in the offer. The invoice must be paid within two business days from the date of issue.
Any natural or legal person may become the purchaser, provided that such person:
- submits the highest offer;
- is not subject to sanctions;
- submits a declaration regarding the lawful origin of the funds;
- pays the invoice within two business days from its issuance.
All persons wishing to acquire the artwork are invited to submit a written offer to the Administrator no later than 31 July 2026, signed with a secure electronic signature and sent to: piedavajumi@bib.eu.
The offer shall include:
- The applicant’s name and surname/company name, personal identity number/registration number, residential/registered address, telephone number and e-mail address;
- A clear purchase price offer for the artwork (excluding VAT), expressed both in figures and words;
A declaration regarding the lawful origin of the funds; - A clear undertaking to pay the purchase price within two business days after the invoice has been issued.
If several persons submit identical highest offers, a bidding procedure between such persons shall be organized.
After the submission deadline, the Administrator shall contact only the applicant who has submitted the highest purchase price offer.
