Page 188 - Aste Bolaffi - Manifesti - 24 ottobre 2024, Torino

GENERAL TERMS ticipation due to any errors that may occur during or prior time of delivery of the lots and for buyers participating
by written offers, via telephone or online within 7 (sev -
to the telephone and/or internet connection.
AND CONDITIONS en) calendar days from receipt of the invoice. Payments
6 – Awarding of lots
Lots will be awarded to the highest bidder. Aste Bolaffi can be made in cash (within the limits permitted by law),
1 – Introduction reserves the right to cancel an award in the event of any by cheque or banker’s draft, debit card, credit card (only
These Terms and Conditions govern the sale by public third-party disputes claiming private or State ownership American Express, MasterCard and Visa circuits) or by
auction, private negotiation or by any other means of any of the Lot. We do not accept bids below the starting bank transfer. If payment is made by American Express
type of goods or collectables by Aste Bolaffi S.p.A. auction price. Lots will open at the bid indicated as the starting credit card or PayPal, a surcharge of 5% (five per cent) is
house, with registered office at Via Cavour no. 17, Turin, price, except when a higher offer has been received pri - payable on the hammer price or sale price. Payments will
share capital of 52,180.00 Euro fully paid-up, VAT number or to the opening of the auction; in this case the lot will not be accepted from anyone other than the buyer. De -
09591610010, Register of Companies no. TO-1064393, PEC open at the subsequent bidding increment after that of - fault interest will be charged on all amounts that are not
(certified email) address astebolaffi@pec.bolaffi.it (here - fer. In the event of equal absentee bids, which take prior - paid according to the terms at an annual rate of 5% (five
inafter “Aste Bolaffi ”). The lots offered for sale, except in ity over bids made in the saleroom, the bid which arrived per cent). Aste Bolaffi may grant extended payment terms.
exceptional cases, are the property of third parties (here - first shall take precedence. Bidding increments will be Extended payment terms must be agreed and formalised
inafter “Seller”) who have irrevocably entrusted the sale of prior to the auction. Aste Bolaffi will issue an invoice to
the lots to Aste Bolaffi which acts only as an intermediary. regulated at the discretion of the auctioneer. The mini - a successful bidder using the procedures provided for
Information about the auction may be included in the cat - mum increment will be € 25.00. The auctioneer reserves in these Terms and Conditions. In the event of non-pay -
alogue or announced in the saleroom before or during the the right to withdraw, add, combine or divide lots, and ment of the purchase price or any other amount due by
sale. The terms and conditions of sale are subject to up - the right to refuse a bid in the saleroom or a written offer. the buyer to Aste Bolaffi within thirty (30) calendar days
dates that will immediately be posted on www.astebolaffi. The auctioneer reserves the right to withdraw a lot from from the end of the month in which the invoice is issued,
it. If there are any discrepancies between the text of the the auction if bids do not reach the reserve price agreed Aste Bolaffi shall be entitled to rescind the sales contract
Terms and Conditions published in the auction catalogue with the Seller. pursuant to Art. 1456 of the Italian Civil Code by giving
and those published on the Aste Bolaffi website, the on - 7 – Auction fees for the sale of lots with the VAT margin written notice to the buyer, without prejudice to its right
line version will take precedence. scheme to compensation for the damage caused by the non-ful -
The Article 45 of Italian Law 342 of 21 November 2000
2 – Catalogues filment. Any instalments paid by the buyer before the
Aste Bolaffi shall not be held liable with regard to descrip - provides the application of margin scheme to sales where sales contract is rescinded will be retained by the auction
tions, condition reports, values and estimates of the lots commission charges applied: with: (a) private persons; (b) house as compensation pursuant to Art. 1526 of the Italian
contained in the catalogues and in any other illustrative taxable persons which have subjected the transaction Civil Code without prejudice to compensation for further
materials. Illustrations, descriptions, values and estimates to the margin scheme; (c) persons who have not been damages. Aste Bolaffi is among the entities required by
are provided purely as a guide and only serve to clearly able to deduct tax in accordance with Articles 19, 19-bis Legislative Decree 21/11/2007 n. 231 to comply with the
identify the lot and bidders should not rely on them as and 19-bis2 of Italian Presidential Decree no. 633/72 (who provisions of European Directive 2018/843 dated 30/5/2018
statement of fact. The illustrations, descriptions, val - have sold the asset in exemption pursuant to Articles 10 (Anti-Money Laundering Directive), for which it is required
ues and estimates are made to the best of Aste Bolaffi’s and 27-quinquies); (d) persons covered by the exemption to carry out the identification and adequate verification of
knowledge and do not in any way constitute guarantees arrangements provided for small businesses in the State the customer and the ultimate beneficiary with reference
or promises of quality in accordance with Articles 1490 and they belong to. No particular symbol will be used to iden - to the interactions and operations inherent to the execu -
1497 of the Italian Civil Code. Lots may be sold at prices tify the lots sold in the margin scheme. As regards this tion of its professional activities.
that are higher or lower than the estimated values indi - scheme, in the event of award or sale, the buyer will be 11 – Collection and delivery of sold lots
cated in the catalogues. At the sole discretion of Aste charged a buyer’s premium in favour of Aste Bolaffi ac - Without prejudice to the provisions in Article 21 below and
Bolaffi estimated values are subject to change. The esti - cording to the following percentages: until full payment of the amount due has been received,
mated values published in the catalogue do not include Classic cars’ auctions: in addition to the hammer price, the the lots shall be kept at Aste Bolaffi’s premises and insured
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. with adequate coverage at the expense of Aste Bolaffi.
(artist’s resale royalty), customs and export duties and Classic motorcycles’ auctions: in addition to the hammer The obligation to deliver the lots sold is subject to full set -
fees and VAT (if any). All copyrights related to images, il - price, the buyer shall pay a fixed buyer’s premium of 19% on tlement of all sums due to Aste Bolaffi by the buyer. Aste
lustrations, text, captions and descriptions in Aste Bolaffi each lot. Bolaffi does not assume the obligation to arrange ship -
catalogues are and will remain the exclusive property of Numismatic and philatelic auctions: in addition to the
Aste Bolaffi. Such images, illustrations, text, captions and hammer price, the buyer shall pay the following buyer’s ment of lots, which must be picked up from Aste
descriptions may not be used or reproduced by the buy - premium on each lot: 22% on the portion of the hammer Bolaffi’s premises. The lots shall be delivered to the buy -
er and/or third parties without Aste Bolaffi’s prior written price up to € 250,000; 20% on the portion between € er at the buyer’s expense and care, no later than 5 (five)
consent. 250,001 and € 500,000; 18% on portions over € 500,001. working days from the date of sale. If the buyer fails to
For all other auctions: in addition to the hammer price, the collect the lots within this deadline Aste Bolaffi shall be
3 – Inspection of lots prior to the auction buyer shall pay the following buyer’s premium on each lot: entitled to charge the buyer an amount equal to 1% of the
Prospective buyers are able to examine lots before the 25% on the portion of the hammer price up to € 100,000; sale price for each month of delayed collection of the lots
auction on days and during the times established at Aste 22.5% on the portion between € 100,001 and € 250,000; plus a minimum charge of € 5 a day for each lot purchased.
Bolaffi’s discretion. Individuals may handle lots on display 20% on the portion between € 250,001 and € 500,000; 18% Upon receipt of payment and when requested by the buy -
at their own risk. Some large or heavy items may be dan - on portions over € 500,001. The buyer’s premium in favour er, the lots may be shipped by registered mail at the risk
gerous if handled incorrectly and may only be handled of Aste Bolaffi is inclusive of VAT. and expense of the buyer.
with the assistance of Aste Bolaffi Staff.
8 – Auction fees for the sale of lots with standard VAT 12 – Exporting lots
4 – Participation in the saleroom The ± symbol after the lot number indicates standard Customs and export costs shall be borne by the buyer.
In order to improve auction procedures, all potential buy - VAT and a buyer’s premium that differs from that normally Applications to the relevant authorities and entities for
ers are required to obtain a numbered bidding paddle be - used for lots sold in the margin scheme. These premiums the issuance of the certificate of free circulation for ex -
fore the start of the public auction for use when making vary depending on where the goods are shipped: port, in accordance with the applicable legislation on such
bids. Buyers may also pre-register during the pre-auction - goods that remain within the EU: matters, will be made by the auction house on behalf of
viewing days. By completing and signing the registration 1. Buyer’s premium rate for VAT exempt buyers: 15% (classic the buyer. The buyer is required to pay the expenses upon
form and being given a numbered paddle, buyers accept cars and motorcycles); 18% (all other categories). receipt of the invoice. Approximately 10-12 weeks are re -
these Terms and Conditions. Aste Bolaffi reserves the right 2. Buyer’s premium rate for VAT payers: the same as those quired to obtain the export licence. Lots in the Temporary
to ask bidders for information and documents for identi - applied for the VAT margin scheme. Import regime and coming from abroad are authorised
fication purposes as well as information regarding bank 3. VAT on the hammer price at the following rates: to remain in Italy for a determinate amount of time and
references. In some situations, Aste Bolaffi reserves the • books 4% are exempt from the relevant safeguard provisions in the
right to require bidders to pay a deposit to guarantee the • stamps 10% Code of Cultural Heritage. For this reason it will not be
payment of the sale price and auction commission. Aste • all other categories 22%; necessary to apply for a free circulation certificate to leave
Bolaffi may, in its sole discretion, ban unwelcome or un - 4. VAT on buyer’s premium payable at 22%. Italy. Temporarily imported lots cannot be collected by
suitable bidders from entering the saleroom. If a bidder - goods that are shipped outside the EU: buyers, but must be shipped by the auction house at the
is acting in the name and on behalf of another person or The buyer’s premium rates are the same as those applied expense of the buyer.
entity a suitable power of attorney must be shown before for the VAT margin scheme.
the auction takes place. Aste Bolaffi reserves the right to VAT refund. Non-European buyers that are exempt from 13 – No guarantees on lots
refuse agents or brokers of third parties to participate in paying VAT are eligible for a refund of the VAT paid on the Without prejudice to the provisions in Article 23 below, all
an auction if, in its opinion, power of attorney has not been lots are sold “as is” by Aste Bolaffi on behalf of the Seller
demonstrated. A bidding paddle must be used to indicate hammer price if they present an official document (customs with any flaws, defects, imperfections, damage and/or lack
bids to the auctioneer during the auction. In the event of declaration) attesting to the export of the goods from the of quality present at the time of the auction. Each auction is
any doubts regarding the hammer price or the successful European Union within 90 days of delivery. Non-resident preceded by a public viewing that allows potential buyers
bidder, participants should attract the auctioneer’s at - buyers that are VAT payers, domiciled in European Union to examine the lots in person or through trusted represent -
tention immediately. All lots sold will be invoiced to the countries or non-EU countries, can request a refund of the atives, and establish their authenticity, state of conserva -
name and address provided when the bidding paddle is VAT paid on the hammer price and the 22% VAT calculated tion, provenance, characteristics, qualities and possible
assigned and may not be transferred to other name and/or on the buyer’s premium, by presenting an official document defects and flaws. Each potential buyer is responsible for
address. Aste Bolaffi will not accept any complaint or claim (CMR or customs declaration) attesting to the export of the inspecting a lot before purchasing to ensure that it com -
for paddle loss or theft. At the end of the auction, the pad- goods from the European Union within 90 (ninety) calendar plies with the descriptions and pictures in the catalogue
dle must be returned to the registration desk. days after delivery. If the goods are shipped outside the Eu - and, where appropriate, seeking the opinion of a scholar
ropean Union by the auction house, the aforementioned re -
5 – Participation by mail, via telephone or online fundable VAT will not be included on the invoice. or an independent expert to verify its authenticity, prove -
By submitting and signing the designated forms, the par - nance, attribution, origin, date, age, period, cultural origin
ticipant agrees to take part in the relevant auction and 9 – Lots being sold under Temporary Import regime or source and condition. Upon request and for guidance
agrees to pay the hammer price and buyer’s premium if The symbol E after the lot number indicates its Temporary only, Aste Bolaffi can provide written reports (“condition
his or her offer(s) is or are successful. The participant also Import status within Italy. Lots purchased under the Tem - reports”) that can supplement the catalogue information.
agrees to verify at the end of the auction if his or her offer(s) porary Import regime cannot be collected directly by the Except in cases where defects or material flaws have inten -
has or have been successful, exempting Aste Bolaffi from buyer, but must be shipped by the auction house, at the tionally been concealed from the buyer, Aste Bolaffi gives
any liability in this regard. Claims due to negligence or error expense of the buyer, once the Temporary Import proce - no contractual guarantee regarding the sale of the lots
in the filling out of written offers will not be accepted. Aste dure has been closed. even against loss of rights of title since the sale is at the risk
Bolaffi declines all liability to persons participating in the 10 – Payment and danger of the buyer pursuant to and with the effects of
auction by telephone and or online in the event of non-par- Payment must be made by buyers in the saleroom at the Article 1488, paragraph 2, of the Italian Civil Code.
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