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