Page 174 - Aste Bolaffi - Gioielli, marzo 2024 Torino

GENERAL TERMS auction by telephone and or online in the event of non-par- 10 – Payment
ticipation due to any errors that may occur during or prior
Payment must be made by buyers in the saleroom at the
AND CONDITIONS to the telephone and/or internet connection. 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 and
knowledge and do not in any way constitute guarantees arrangements provided for small businesses in the State until full payment of the amount due has been received,
or promises of quality in accordance with Articles 1490 and they belong to. No particular symbol will be used to iden- the lots shall be kept at Aste Bolaffi’s premises and insured
1497 of the Italian Civil Code. Lots may be sold at prices tify the lots sold in the margin scheme. As regards this with adequate coverage at the expense of Aste Bolaffi.
that are higher or lower than the estimated values indi- scheme, in the event of award or sale, the buyer will be The obligation to deliver the lots sold is subject to full set-
cated in the catalogues. At the sole discretion of Aste charged a buyer’s premium in favour of Aste Bolaffi ac- tlement of all sums due to Aste Bolaffi by the buyer. Aste
Bolaffi estimated values are subject to change. The esti- cording to the following percentages: Bolaffi does not assume the obligation to arrange ship-
mated values published in the catalogue do not include Classic cars’ auctions: in addition to the hammer price, the ment of lots, which must be picked up from 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 lots shall be delivered to the buy-
(artist’s resale royalty), customs and export duties and Classic motorcycles’ auctions: in addition to the hammer er at the buyer’s expense and care, no later than 5 (five)
fees and VAT (if any). All copyrights related to images, il- price, the buyer shall pay a fixed buyer’s premium of 19% on working days from the date of sale. If the buyer fails to
lustrations, text, captions and descriptions in Aste Bolaffi each lot. collect the lots within this deadline Aste Bolaffi shall be
catalogues are and will remain the exclusive property of Numismatic and philatelic auctions: in addition to the entitled to charge the buyer an amount equal to 1% of the
Aste Bolaffi. Such images, illustrations, text, captions and hammer price, the buyer shall pay the following buyer’s sale price for each month of delayed collection of the lots
descriptions may not be used or reproduced by the buy- premium on each lot: 22% on the portion of the hammer plus a minimum charge of € 5 a day for each lot purchased.
er and/or third parties without Aste Bolaffi’s prior written price up to € 250,000; 20% on the portion between € Upon receipt of payment and when requested by the buy-
consent. er, the lots may be shipped by registered mail at the risk
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 and expense of 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. The buyer’s premium in favour port, in accordance with the applicable legislation on such
with the assistance of Aste Bolaffi Staff. of Aste Bolaffi is inclusive of VAT. matters, will be made by the auction house on behalf of
4 – Participation in the saleroom 8 – Auction fees for the sale of lots with standard VAT the buyer. The buyer is required to pay the expenses upon
In order to improve auction procedures, all potential buy- The ± symbol after the lot number indicates standard receipt of the invoice. Approximately 10-12 weeks are re-
ers are required to obtain a numbered bidding paddle be- VAT and a buyer’s premium that differs from that normally quired to obtain the export licence. Lots in the Temporary
fore the start of the public auction for use when making used for lots sold in the margin scheme. These premiums Import regime and coming from abroad are authorised
bids. Buyers may also pre-register during the pre-auction vary depending on where the goods are shipped: to remain in Italy for a determinate amount of time and
viewing days. By completing and signing the registration - goods that remain within the EU: are exempt from the relevant safeguard provisions in the
form and being given a numbered paddle, buyers accept 1. Buyer’s premium rate for VAT exempt buyers: 15% (classic Code of Cultural Heritage. For this reason it will not be
these Terms and Conditions. Aste Bolaffi reserves the right cars and motorcycles); 18% (all other categories). necessary to apply for a free circulation certificate to leave
to ask bidders for information and documents for identi- 2. Buyer’s premium rate for VAT payers: the same as those Italy. Temporarily imported lots cannot be collected by
fication purposes as well as information regarding bank applied for the VAT margin scheme. buyers, but must be shipped by the auction house at the
references. In some situations, Aste Bolaffi reserves the 3. VAT on the hammer price at the following rates: expense of the buyer.
right to require bidders to pay a deposit to guarantee the • books 4% 13 – No guarantees on lots
payment of the sale price and auction commission. Aste • stamps 10% Without prejudice to the provisions in Article 23 below, all
Bolaffi may, in its sole discretion, ban unwelcome or un- • all other categories 22%; lots are sold “as is” by Aste Bolaffi on behalf of the Seller
suitable bidders from entering the saleroom. If a bidder 4. VAT on buyer’s premium payable at 22%. with any flaws, defects, imperfections, damage and/or lack
is acting in the name and on behalf of another person or - goods that are shipped outside the EU: of quality present at the time of the auction. Each auction is
entity a suitable power of attorney must be shown before The buyer’s premium rates are the same as those applied preceded by a public viewing that allows potential buyers
the auction takes place. Aste Bolaffi reserves the right to for the VAT margin scheme. to examine the lots in person or through trusted represent-
refuse agents or brokers of third parties to participate in VAT refund. Non-European buyers that are exempt from atives, and establish their authenticity, state of conserva-
an auction if, in its opinion, power of attorney has not been paying VAT are eligible for a refund of the VAT paid on tion, provenance, characteristics, qualities and possible
demonstrated. A bidding paddle must be used to indicate the hammer price if they present an official document defects and flaws. Each potential buyer is responsible for
bids to the auctioneer during the auction. In the event of (customs declaration) attesting to the export of the goods inspecting a lot before purchasing to ensure that it com-
any doubts regarding the hammer price or the successful from the European Union within 90 days of delivery. plies with the descriptions and pictures in the catalogue
bidder, participants should attract the auctioneer’s at- Non-resident buyers that are VAT payers, domiciled in Eu- and, where appropriate, seeking the opinion of a scholar
tention immediately. All lots sold will be invoiced to the ropean Union countries or non-EU countries, can request or an independent expert to verify its authenticity, prove-
name and address provided when the bidding paddle is a refund of the VAT paid on the hammer price and the 22% nance, attribution, origin, date, age, period, cultural origin
assigned and may not be transferred to other name and/or VAT calculated on the buyer’s premium, by presenting an or source and condition. Upon request and for guidance
address. Aste Bolaffi will not accept any complaint or claim official document (CMR or customs declaration) attesting only, Aste Bolaffi can provide written reports (“condition
for paddle loss or theft. At the end of the auction, the pad- to the export of the goods from the European Union with- reports”) that can supplement the catalogue information.
dle must be returned to the registration desk. in 90 (ninety) calendar days after delivery. If the goods are Except in cases where defects or material flaws have inten-
shipped outside the European Union by the auction house,
5 – Participation by mail, via telephone or online tionally been concealed from the buyer, Aste Bolaffi gives
By submitting and signing the designated forms, the par- the aforementioned refundable VAT will not be included no contractual guarantee regarding the sale of the lots
ticipant agrees to take part in the relevant auction and on the invoice. even against loss of rights of title since the sale is at the risk
agrees to pay the hammer price and buyer’s premium if 9 – Lots being sold under Temporary Import regime and danger of the buyer pursuant to and with the effects of
his or her offer(s) is or are successful. The participant also The symbol E after the lot number indicates its Temporary Article 1488, paragraph 2, of the Italian Civil Code.
E
agrees to verify at the end of the auction if his or her offer(s) Import status within Italy. Lots purchased under the Tem-
has or have been successful, exempting Aste Bolaffi from porary Import regime cannot be collected directly by the 14 - Limitation of Aste Bolaffi’s liability
any liability in this regard. Claims due to negligence or error buyer, but must be shipped by the auction house, at the Except in the case of wilful misconduct or gross negli-
in the filling out of written offers will not be accepted. Aste expense of the buyer, once the Temporary Import proce- gence, Aste Bolaffi and its employees, assistants, directors
Bolaffi declines all liability to persons participating in the dure has been closed. or consultants shall not be liable for acts or omissions re-
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