Page 188 - Aste Bolaffi - Gioielli, marzo 2024 Torino

GENERAL TERMS event of non-participation due to any errors that may oc- 10 – Payment
Payment must be made by buyers in the saleroom at the
cur during or prior to the telephone and/or internet con-
AND CONDITIONS nection. time of delivery of the lots and for buyers participating
by written offers, via telephone or online within 7 (sev-
6 – Awarding of lots
1 – Introduction Lots will be awarded to the highest bidder. Aste Bolaffi en) calendar days from receipt of the invoice. Payments
These Terms and Conditions govern the sale by public reserves the right to cancel an award in the event of any can be made in cash (within the limits permitted by law),
auction, private negotiation or by any other means of any third-party disputes claiming private or State ownership by cheque or banker’s draft, debit card, credit card (only
type of goods or collectables by Aste Bolaffi S.p.A. auction of the Lot. We do not accept bids below the starting American Express, MasterCard and Visa circuits) or by
house, with registered office at Via Cavour no. 17, Turin, price. Lots will open at the bid indicated as the starting bank transfer. If payment is made by American Express
share capital of 52,180.00 Euro fully paid-up, VAT number price, except when a higher offer has been received pri- credit card or PayPal, a surcharge of 5% (five per cent)
09591610010, Register of Companies no. TO-1064393, PEC or to the opening of the auction; in this case the lot will is payable on the hammer price or sale price. Payments
(certified email) address astebolaffi@pec.bolaffi.it (here- open at the subsequent bidding increment after that of- will not be accepted from anyone other than the buyer.
inafter “Aste Bolaffi”). The lots offered for sale, except in fer. In the event of equal absentee bids, which take prior- Default interest will be charged on all amounts that are
exceptional cases, are the property of third parties (here- ity over bids made in the saleroom, the bid which arrived not paid according to the terms at an annual rate of 5%
inafter “Seller”) who have irrevocably entrusted the sale of first shall take precedence. Bidding increments will be (five per cent). Aste Bolaffi may grant extended payment
the lots to Aste Bolaffi which acts only as an intermediary. regulated at the discretion of the auctioneer. The mini- terms. Extended payment terms must be agreed and
Information about the auction may be included in the cat- mum increment will be € 25.00. The auctioneer reserves formalised prior to the auction. Aste Bolaffi will issue an
alogue or announced in the saleroom before or during the the right to withdraw, add, combine or divide lots, and invoice to a successful bidder using the procedures pro-
sale. The terms and conditions of sale are subject to up- the right to refuse a bid in the saleroom or a written offer. vided for in these Terms and Conditions. In the event of
dates that will immediately be posted on www.astebolaffi. The auctioneer reserves the right to withdraw a lot from non-payment of the purchase price or any other amount
it. If there are any discrepancies between the text of the the auction if bids do not reach the reserve price agreed due by the buyer to Aste Bolaffi within thirty (30) calendar
Terms and Conditions published in the auction catalogue with the Seller. days from the end of the month in which the invoice is
and those published on the Aste Bolaffi website, the on- issued, Aste Bolaffi shall be entitled to rescind the sales
line version will take precedence. 7 – Auction fees for the sale of lots with the VAT margin contract pursuant to Art. 1456 of the Italian Civil Code by
scheme giving written notice to the buyer, without prejudice to
2 – Catalogues The Article 45 of Italian Law 342 of 21 November 2000
Aste Bolaffi shall not be held liable with regard to descrip- provides the application of margin scheme to sales where its right to compensation for the damage caused by the
tions, condition reports, values and estimates of the lots commission charges applied: with: (a) private persons; (b) non-fulfilment. Any instalments paid by the buyer before
contained in the catalogues and in any other illustrative taxable persons which have subjected the transaction the sales contract is rescinded will be retained by the auc-
materials. Illustrations, descriptions, values and estimates to the margin scheme; (c) persons who have not been tion house as compensation pursuant to Art. 1526 of the
are provided purely as a guide and only serve to clearly able to deduct tax in accordance with Articles 19, 19-bis Italian Civil Code without prejudice to compensation for
identify the lot and bidders should not rely on them as and 19-bis2 of Italian Presidential Decree no. 633/72 (who further damages.
statement of fact. The illustrations, descriptions, val- have sold the asset in exemption pursuant to Articles 10 11 – Collection and delivery of sold lots
ues and estimates are made to the best of Aste Bolaffi’s and 27-quinquies); (d) persons covered by the exemption Without prejudice to the provisions in Article 21 below
knowledge and do not in any way constitute guarantees arrangements provided for small businesses in the State and until full payment of the amount due has been re-
or promises of quality in accordance with Articles 1490 and they belong to. No particular symbol will be used to iden- ceived, the lots shall be kept at Aste Bolaffi’s premises and
1497 of the Italian Civil Code. Lots may be sold at prices tify the lots sold in the margin scheme. As regards this insured with adequate coverage at the expense of Aste
that are higher or lower than the estimated values indi- scheme, in the event of award or sale, the buyer will be Bolaffi. The obligation to deliver the lots sold is subject to
cated in the catalogues. At the sole discretion of Aste charged a buyer’s premium in favour of Aste Bolaffi ac- full settlement of all sums due to Aste Bolaffi by the buy-
Bolaffi estimated values are subject to change. The esti- cording to the following percentages: er. Aste Bolaffi does not assume the obligation to arrange
mated values published in the catalogue do not include Classic cars’ auctions: in addition to the hammer price, the shipment of lots, which must be picked up from the Aste
Aste Bolaffi’s buyer’s premium, the costs of droit de suite buyer shall pay a fixed buyer’s premium of 15% on each lot. Bolaffi’s premises. The lot shall be delivered to the buyer at
(artist’s resale royalty), customs and export duties and Classic motorcycles’ auctions: in addition to the hammer the buyer’s expense and care, no later than 5 (five) working
fees and VAT (if any). All copyrights related to images, il- price, the buyer shall pay a fixed buyer’s premium of 19% days from the date of sale. If the buyer fails to collect the
lustrations, text, captions and descriptions in Aste Bolaffi on each lot. lots within this deadline Aste Bolaffi shall be entitled to
catalogues are and will remain the exclusive property of Numismatic and philatelic auctions: in addition to the charge the buyer an amount equal to 1% of the sale price
Aste Bolaffi. Such images, illustrations, text, captions and hammer price, the buyer shall pay the following buyer’s for each month of delayed collection of the lots plus a min-
descriptions may not be used or reproduced by the buy- premium on each lot: 22% on the portion of the ham- imum charge of € 5 a day for each lot purchased. Upon
er and/or third parties without Aste Bolaffi’s prior written mer price up to € 250,000; 20% on the portion between receipt of payment and when requested the lots may be
consent. shipped by registered mail at the risk and expense of the
€ 250,001 and € 500,000; 18% on portions over € 500,001.
3 – Inspection of lots prior to the auction For all other auctions: in addition to the hammer price, the buyer.
Prospective buyers are able to examine lots before the buyer shall pay the following buyer’s premium on each lot: 12 – Exporting lots
auction on days and during the times established at Aste 25% on the portion of the hammer price up to € 100,000; Customs and export costs shall be borne by the buyer.
Bolaffi’s discretion. Individuals may handle lots on display 22.5% on the portion between € 100,001 and € 250,000; Applications to the relevant authorities and entities for
at their own risk. Some large or heavy items may be dan- 20% on the portion between € 250,001 and € 500,000; 18% the issuance of the certificate of free circulation for ex-
gerous if handled incorrectly and may only be handled on portions over € 500,001. port, in accordance with the applicable legislation on such
with the assistance of Aste Bolaffi Staff. The buyer’s premium in favour of Aste Bolaffi is inclusive matters, will be made by the auction house on behalf of
4 – Participation in the saleroom of VAT. the buyer. The buyer is required to pay the expenses upon
In order to improve auction procedures, all potential buy- 8 – Auction fees for the sale of lots with standard VAT receipt of the invoice. Approximately 10-12 weeks are re-
ers are required to obtain a numbered bidding paddle be- The ± symbol after the lot number indicates standard quired to obtain the export licence. Lots in the Temporary
fore the start of the public auction for use when making VAT and a buyer’s premium that differs from that normally Import regime and coming from abroad are authorised
bids. Buyers may also pre-register during the pre-auction used for lots sold in the margin scheme. These premiums to remain in Italy for a determinate amount of time and
viewing days. By completing and signing the registration vary depending on where the goods are shipped: are exempt from the relevant safeguard provisions in the
form and being given a numbered paddle, buyers accept - goods that remain within the EU: Code of Cultural Heritage. For this reason it will not be
these Terms and Conditions. Aste Bolaffi reserves the right 1. Buyer’s premium rate for VAT exempt buyers: 15% (classic necessary to apply for a free circulation certificate to leave
to ask bidders for information and documents for identi- cars and motorcycles); 18% (all other categories). Italy. Temporarily imported lots cannot be collected by
fication purposes as well as information regarding bank 2. Buyer’s premium rate for VAT payers: the same as those buyers, but must be shipped by the auction house at the
references. In some situations, Aste Bolaffi reserves the applied for the VAT margin scheme. expense of the buyer.
right to require bidders to pay a deposit to guarantee the 3. VAT on the hammer price at the following rates:
payment of the sale price and auction commission. Aste • books 4% 13 – No guarantees on lots
Bolaffi may, in its sole discretion, ban unwelcome or un- • stamps 10% Without prejudice to the provisions in Article 23 below, all
suitable bidders from entering the saleroom. If a bidder • all other categories 22%; lots are sold “as is” by Aste Bolaffi on behalf of the Sell-
is acting in the name and on behalf of another person or 4. VAT on buyer’s premium payable at 22%. er with any flaws, defects, imperfections, damage and/or
entity a suitable power of attorney must be shown before - goods that are shipped outside the EU: lack of quality present at the time of the auction. Each auc-
the auction takes place. Aste Bolaffi reserves the right to The buyer’s premium rates are the same as those applied tion is preceded by a public viewing that allows potential
refuse agents or brokers of third parties to participate in for the VAT margin scheme. buyers to examine the lots in person or through trusted
an auction if, in its opinion, power of attorney has not been VAT refund. Non-European buyers that are exempt from representatives, and establish their authenticity, state of
demonstrated. A bidding paddle must be used to indicate paying VAT are eligible for a refund of the VAT paid on conservation, provenance, characteristics, qualities and
bids to the auctioneer during the auction. In the event of the hammer price if they present an official document possible defects and flaws. Each potential buyer is re-
any doubts regarding the hammer price or the successful (customs declaration) attesting to the export of the goods sponsible for inspecting a lot before purchasing to ensure
bidder, participants should attract the auctioneer’s at- from the European Union within 90 days of delivery. that it complies with the descriptions and pictures in the
tention immediately. All lots sold will be invoiced to the Non-resident buyers that are VAT payers, domiciled in Eu- catalogue and, where appropriate, seeking the opinion of
name and address provided when the bidding paddle is ropean Union countries or non-EU countries, can request a scholar or an independent expert to verify its authen-
assigned and may not be transferred to other name and/or a refund of the VAT paid on the hammer price and the 22% ticity, provenance, attribution, origin, date, age, period,
address. Aste Bolaffi will not accept any complaint or claim VAT calculated on the buyer’s premium, by presenting an cultural origin or source and condition. Upon request and
for paddle loss or theft. At the end of the auction, the pad- official document (CMR or customs declaration) attesting for guidance only, Aste Bolaffi can provide written reports
dle must be returned to the registration desk. to the export of the goods from the European Union with- (“condition reports”) that can supplement the catalogue
in 90 (ninety) calendar days after delivery. If the goods are information. Except in cases where defects or material
5 – Participation by mail, via telephone or online flaws have intentionally been concealed from the buyer,
By submitting and signing the designated forms, the par- shipped outside the European Union by the auction house, Aste Bolaffi gives no contractual guarantee regarding the
ticipant agrees to take part in the relevant auction and the aforementioned refundable VAT will not be included sale of the lots even against loss of rights of title since the
agrees to pay the hammer price and buyer’s premium if on the invoice. sale is at the risk and danger of the buyer pursuant to and
his or her offer(s) is or are successful. The participant also 9 – Lots being sold under Temporary Import regime with the effects of Article 1488, paragraph 2, of the Italian
agrees to verify at the end of the auction if his or her of- The symbol E after the lot number indicates its Temporary Civil Code.
fer(s) has or have been successful, exempting Aste Bolaffi Import status within Italy. Lots purchased under the Tem-
from any liability in this regard. Claims due to negligence porary Import regime cannot be collected directly by the 14 - Limitation of Aste Bolaffi’s liability
or error in the filling out of written offers will not be ac- buyer, but must be shipped by the auction house, at the Except in the case of wilful misconduct or gross negli-
cepted. Aste Bolaffi declines all liability to persons partic- expense of the buyer, once the Temporary Import proce- gence, Aste Bolaffi and its employees, assistants, directors
ipating in the auction by telephone and or online in the dure has been closed. or consultants shall not be liable for acts or omissions re-