Page 194 - Aste Bolaffi - Arte moderna e contemporanea, novembre 2024 Torino

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