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lating to the preparation or management of the auction Aste Bolaffi. The buyer shall not treat these assessments of delivery of the lot shall be presumed to have existed
or any matter relating to the sale of the lots. Except in the as statement of fact or place any reliance on such rep - at the time of delivery unless this presumption is incom -
case of wilful misconduct or gross negligence, Aste Bolaffi resentations. patible with the type of lot or the nature of the lack of
shall not under any circumstances be liable for indirect or 18 – Verification of cultural interest conformity. From the seventh month after the delivery
consequential damages, for lost profits or damages from Aste Bolaffi in its sole discretion may temporarily award of the product, it will instead be the burden of the buyer
loss of opportunities. Any possible liability of Aste Bolaffi lots that, before or during the auction, are subjected to the to prove that the lack of conformity already existed at
and/or of the Seller with respect to the buyer in connec - notification of the start of a procedure for the declaration the time of delivery. In order to use the Legal Warranty,
tion with the purchase of a lot by the latter shall be limited of cultural interest referred to in Article 14 et seq. of Italian the buyer will need to provide evidence of the date of
to the corresponding hammer price and purchase price Legislative Decree no. 42 of 22 January 2004 (the “ Code purchase and delivery of the lot. It would be advisable
and the buyer’s premium paid by the buyer. for buyers to keep the purchase invoices, delivery notes
of Cultural Heritage ”). In the event of temporary award and any other documents relating to the purchase and
15 – Expert reports and certificates Aste Bolaffi will report the sale to the relevant Ministry delivery of lots. It is assumed that the purchased lot is
Aste Bolaffi reserves the right to issue expert reports/ex - pursuant to Art. 59 of the Code of Cultural Heritage. The in accordance with the sales contract when the lot: (i)
tensions when requested by the buyer. Expert reports are sale completion will be subject to the ruling made by the is suitable for the use that goods of the same type are
not issued by Aste Bolaffi in relation to lots whose cata - relevant Ministry regarding the status of the property as normally used for; (ii) complies with the corresponding
logue description states that they are accompanied by a a “cultural heritage item” and the failure by the Ministry description given in the catalogue, in expert reports or
certificate. It is hereby specified that any grant of expert to exercise its right to pre-emption within sixty days of reports by Aste Bolaffi or in any accompanying documen -
reports/extensions does not change the payment terms the receipt of the report or within the longer term of one tation; (iii) provides the usual quality and performance of
set out in Article 10 above or constitute any form of guar - hundred and eighty days referred to in Art. 61, paragraph goods of the same type that the buyer can reasonably
antee regarding sold lots. Only in the cases provided for 2, of the Code of Cultural Heritage. Pending these terms, expect, also taking into account the statements made in
by Art. 64 of Italian Legislative Decree no. 42 of 22 January the lot cannot be released to the buyer. the catalogue or advertising material; (iv) is suitable for
2004, Aste Bolaffi, upon request from the buyer shall pro - 19 – Droit de suite (Artist’s Resale Royalty) the particular purpose desired by the buyer as long as
vide the buyer with a statement containing all information Italian Legislative Decree no. 118 of 13 February 2006, im - this was made known to Aste Bolaffi before the auction
available on the authenticity of the lot or on its probable plementing Directive 2001/84/EC, introduced into Italian or sale and Aste Bolaffi accepted this. Any failures or mal -
attribution and provenance. law the right of authors of works of art and manuscripts, functions due to accidental events or the responsibility of
16 – Numismatic auction catalogues and their successors, to receive a fee on the price of each the buyer are excluded from the scope of the Legal War -
The catalogues used as references are as follows: Bol. (Aste sale of the original work subsequent to the first sale (so- ranty, as well as any use or storage of the lot that does
Bolaffi catalogue of coins and banknotes - Kingdom of called “droit de suite”). The “droit de suite” is due only if not comply with its intended use and/or the provisions in
Sardinia, the Kingdom of Italy and Italian Republic), Bol. the sale price is not less than 3,000.00 Euro. It is calculat - the documentation accompanying the lot. Furthermore,
Vat. (Aste Bolaffi catalogue of Vatican City coins) Bab. ed as follows: • 4% for the portion of the sale price from there is no Legal Warranty of any kind, if at the time of
(Babelon), Bartolotti, Biaggi, Bohering Calciati, Cottag - € 0 to € 50,000.00; • 3% for the portion of the sale price the award or sale, the buyer was aware of the lack of con -
es, BMC (British Museum catalogue), Ciani, CNI (Corpus from € 50,000.01 to € 200,000.00; • 1% for the portion of formity or could not have failed to be aware of it with
Nummorum Italicorum), Cra. (Crapanzano/ Giulianini), the sale price from € 200,000.01 to € 350,000.00; • 0.5% ordinary due diligence or if the lack of conformity stems
Cra. Vol. II (Crapanzano/Giulianini vol. II), Crawf. (Craw - for the portion of the sale price from € 350,000.01 to € from information or materials provided by the buyer. Each
ford), Coh. (Cohen), Crippa, Dav. (Davenport), Di Giulio, 500,000.00; • 0.25% for the portion of the sale price ex - auction is preceded by a public viewing that allows po -
D.O.C. (Dumbarton Oaks Collection), Friedb. (Friedberg), ceeding € 500,000.00. Aste Bolaffi is required to collect tential buyers to examine the lots in person or through
Gad. (Gadoury), Galeotti, Gig. (Gigante), Gav. (Gavello) and remit the “droit de suite” to the Italian Society of Au - trusted representatives and establish their authenticity,
Guadàn, Gulbenkian, Haeb. (Haeberlin) Heiss, Herzfelder, thors and Publishers (SIAE). Lots marked with the symbol state of conservation, provenance, characteristics, quali -
Jenkins and Lewis, Krause, Mesio, Müller, Mont. (Monte - “®” are subject to the “droit de suite” in the above-specified ties and possible defects and flaws. In the event of a lack
negro), Mont. Ve. (Montenegro Venezia), Muntoni, M.zu.A. percentages for a total amount not exceeding € 12,500.00. of conformity duly reported within the terms, the buyer
(Miller zu Aicholds), Pag. (Pagani), Pozzi, Rav. (Ravegnani In addition to the price and the buyer’s premium and oth - shall be entitled: (i) primarily, to the free repair or replace -
Morosini), R.I.C. (Roman Imperial Coinage), Rizzo, Seaby, er expenses, the buyer agrees to pay the “droit de suite”, ment of the lot, according to his/her choice, except when
Sears, Schl. (Schlumberger), Sim. Simonetti. Philatelic auc - which should be paid to the Seller under Article 152, para - the requested remedy is impossible or excessively expen -
tion: The numbering refers to that of Bolaffi and Sassone graph I, of Italian Law no. 633 of 22 April 1941. The “droit de sive to perform compared to the other option; (ii) sec -
catalogues for the Ancient Italian States, Kingdom of Italy, suite” will be charged in accordance with Article 10 above. ondly, (i.e. where the repair or replacement is impossible
Italian Republic and Italian countries, to the Yvert-Telli - 20 – Absence of the right of withdrawal or prohibitively expensive or the repair or replacement
er catalogue and to the Unificato for Europe and to the Online offers and sale of lots online by Aste Bolaffi con - has not been carried out within a reasonable time or the
Yvert-Tellier and Stanley Gibbons catalogue for Overseas. stitute a distance contract governed by Chapter I, Title previous repair or replacement caused significant incon -
Any reference to other catalogues will be indicated spe - III (Arts. 45 et seq.) of the Consumer Code and Italian venience to the buyer) to a price reduction or termination
cifically. Legislative Decree no. 70 of 9 April 2003, containing the of the contract, according to his/her choice. The request -
provisions governing e-commerce. Article 59, paragraph ed remedy is too expensive if it imposes unreasonable
17 – Terms used in catalogues costs on the Seller in comparison to alternative remedies
Furniture and paintings auction: Guido Reni: in our opin - 1, sub-para. m) of the Consumer Code excludes the right that may be exercised, taking into account (i) the value
ion authentic work by the artist. Guido Reni (attributed): of withdrawal as regards contracts concluded in a pub - that the lot would have if it were not for the lack of con -
in our opinion probably work at least partly done by the lic auction, as the auctions organised by Aste Bolaffi are, formity; (ii) the extent of the lack of conformity; (iii) the
artist. Guido Reni (workshop): in our opinion work creat - which also provide the opportunity of participating online. possibility that the alternative remedy may be completed
ed in the artist's workshop, but by an unidentified artist. Therefore, there is no right of withdrawal in relation to lots without significant inconvenience to the buyer.
Guido Reni (circle): in our opinion the work of an unidenti - auctioned in this manner.
fied artist, produced during the lifetime of the cited artist. 21 – Sale with retention of title 24 – Applicable law
Guido Reni (follower): in our opinion the work of an uni - Lots are awarded or sold by Aste Bolaffi with retention of These Terms and Conditions and every sales contract with
dentified artist, not necessarily a pupil of the cited artist, title under Article 1523 of the Italian Civil Code and the Aste Bolaffi and/or the Seller shall be governed in all re -
potentially produced at a later date. Guido Reni (style): in ownership of the lots will be transferred to the buyer only spects by Italian law.
our opinion a work executed in the style of the artist in when the full purchase/sale price has been received. The 25 – Jurisdiction
contemporary or quasi-contemporary times. Guido Reni risk of loss or damage of lots will be transferred to the
(manner or school): in our opinion a work executed in the buyer upon their delivery. The obligation to deliver sold Any dispute relating to these Terms and Conditions and
style of the artist by an unidentified artist but who is in - lots is subject to the prior payment of the price due and of any sales contract with the Seller and/or Aste Bolaffi,
fluenced by him/her, even in a period well after the artist's any other amount due to Aste Bolaffi in full by the buyer including those relating to their interpretation, execu -
death. From Guido Reni: in our opinion a copy of a known according to these Terms and Conditions. tion, termination or validity, shall be referred exclusively
painting of the artist. Signed/Dated/Inscribed: in our opin - 22 – Post-auction sales to the Court of Turin, except in cases where the buyer is
ion the signature and/or date and/or inscription is by the In the thirty days following the auction date, Aste Bolaffi a “consumer” under Art. 18, paragraph 1, sub-para. a) of
artist's hand. Bears signature/bears date/bears inscription: offers the chance to purchase any lots still unsold online the Consumer Code (Italian Legislative Decree no. 206 of
in our opinion the signature/date/inscription appears to be in the “Compra Subito ( Buy Now)” section of the website 6 September 2005) in which case it will be settled by the
of another hand and/or of other era. Aste Bolaffi reserves www.astebolaffi.it, where it is possible to make a binding court of residence or domicile of the consumer. Pursuant
the right to express its own opinion related to the artist, offer for the lots that are still available, at the auction start- to Art. 141-sexies, paragraph 3 of the Consumer Code, Aste
attribution, origin, dating, provenance and condition of ing price plus the traditional buyer’s premium. Aste Bolaffi Bolaffi informs the buyer who qualifies as a “consumer”
the lots in the catalogue. It is, in any case, an opinion and reserves the right to refuse the offer received. that when a complaint or application is submitted in rela -
should not be considered in any way an expert judgement. tion to which it has not been possible to resolve the dis -
Philatelic auction: 23 – Legal warranty for consumers pute in question, Aste Bolaffi will provide the information
K mint D cancelled O front cover If the Seller of a lot is a “professional” pursuant to the about the Alternative Dispute Resolution body or bodies
L hinged N fragment A letter-aerogramme I without provisions of Art. 18, paragraph 1, sub-para. b) of the for out-of-court settlements of disputes relating to obliga -
gum Consumer Code (Italian Legislative Decree no. 206 of 6 tions arising from a contract concluded under these Terms
Numismatic auction: Ac (Acmonital), Ae (Bronze), Ag September 2005), a legal warranty of conformity will be and Conditions (the so-called ADR bodies, as specified in
(Silver), Al (Aluminium), An (Antimonium), Au (Gold), Ba applied to the lot awarded or sold through Aste Bolaffi Articles 141-bis et seq. of the Consumer Code), specifying
(Bronzital), Cn (Copper-nickel), Cu (Copper), El (Electro), It under Articles 128-135 of the Consumer Code (hereinafter whether or not it intends to resort to the use of such bod -
(Italma), M.b. (White metal), Ma (Silver-plated metal), Md “Legal Warranty ”). The Legal Warranty is reserved only ies to resolve the dispute. Aste Bolaffi also states that a
(Gilded metal), Mi (Mixture), Ni (Nichel), Ott. (Brass), Pb to buyers who are natural persons and participate in the European platform for the on-line resolution of consumer
(Lead), Pe (Pewter), Pl (Platinum), Sn (Tin), Zn (Zinc) auction or sale for purposes that do not fall under the disputes (so-called ODR platform) has been established.
Jewellery auction: Cartier Jewel. This wording implies categories of trade, industry, craft or other professional The ODR platform can be viewed at the following web
that in our opinion the object is, due to signatures, char - activities. Since all lots are “preowned goods” pursuant address http://ec.europa.eu/consumers/odr/; through the
acteristics, marks, attributable to the maison indicated. It to and for the purposes of Art. 134, paragraph 2, of the ODR platform the consumer user can consult the list of
is understood that any written or verbal representation Consumer Code, the Seller is liable to the buyer for any ADR bodies, find the link to the website of each of them
provided by Aste Bolaffi, including those contained in the lack of conformity which exists at the time of delivery of and start an online resolution procedure of the dispute in
catalogue, reports, comments or appraisals concerning the product and that become apparent within 1 (one) year which they are involved.
any characteristic of a lot, such as authorship, authenticity, from the date of delivery. The lack of conformity must be WHEN SUBMITTING ABSENTEE BID, SALEROOM BID,
provenance, attribution, origin, date, age, period, cultural reported to Aste Bolaffi or to the Seller, under penalty of TELEPHONE OR ONLINE BID, THE BIDDERS CONFIRMS
origin or source, its quality, including the price or value, forfeiture of the warranty, within two months from the THAT THEY HAVE READ AND ACCEPTED ALL THE TERMS
solely reflect assessments made in good faith by Aste date it was discovered. Unless proved otherwise, any lack AND CONDITIONS OF SALE AS LISTED ABOVE.
Bolaffi and can be reviewed and changed at any time by of conformity which becomes apparent within six months
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