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