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