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CONDITIONS right to withdraw, add, group or divide cepted from par ties other than the buyer.
OF SALE lots, as well as the right to refuse a bid in Interest will be charged on delayed pay-
the saleroom or a commission bid.
ments at the rate of 0.5% monthly, sub-
6 – Purchase price ject to variation, on all amounts not paid
1 – Introduction A commission in favor of Aste Bolaf fi will within the regular terms.
These general conditions, together with be charged to the buyer, in addition to Aste Bolaf fi may grant possible exten-
the special notices regulate the sale at the hammer price, as follows: sions of payment terms on the basis of
auction and/or private negotiations of Classic motor vehicle auctions: the Buy- agreements which will have to be formal-
the lots transferred to Aste Bolaf fi S.p.a. ershall pay a 15% premium on hammer ized, in any case, prior to the auction. If
(hereinaf ter “Aste Bolaf fi ”). Lots put up price for each lot . the buyer fails to make payment within
thir t y (30) days end of month payment
for auction are the proper t y of the con- Numismatic and philatelic auctions: the term, the auction house shall be entitled
signors, who have guaranteed their com- Buyer shall pay the following premium on to rescind the sale in accordance with
plete availabilit y and legitimate and legal the hammer price: the ar t. 1456 of the Civil Code by giving
provenance. Aste Bolaf fi acts exclusive- On first € 250.000 22% writ ten prior notice to the purchaser,
ly as a representative of the individual From € 250.001 to € 500.000 20% with reser ve of any fur ther right and ac-
consignors, in its own name and on their An then 18% from € 500.001. tion for compensation for any damages
behalf. The consignor guarantees the au- All other auctions: the Buyer shall pay arising from non-fulfilment. Any amount
thenticit y of each lot of fered in the cat- the following premium on the hammer paid by the purchaser as par t of the total
alogue, without hidden defects unless price: price prior to the cancellation of the sale
other wise stated in the catalogue and/or On first € 100.000 25% will be applied by the auction house as
by the auctioneer. Any indication of the From € 100.001 to € 250.000 22,5% a compensation in accordance to the ar t.
state of preser vation of the lots is not to From € 250.001 to € 500.000 20% 1526 of the Civil Code, with reser ve of any
be considered binding. An then 18% from € 500.001. fur ther damages.
2 – Images 7 – Lots with additional VAT
The copyright in all images, illustrations Lots with ± symbol are invoiced 10 – Storage and Shipment
and writ ten material produced by or for dif ferently and have a dif ferent Until the full price has been paid and
Aste Bolaf fi relating to a lot or to a spe- buyer's premium on hammer price which until deliver y, lots are held in storage
cific contents of this catalogue, is and var y depending on where the item is on the premises of Aste Bolaf fi and in-
shall remain at all times the proper t y of shipped. sured with adequate coverage at the
Aste Bolaf fi and shall not be used by the -Goods that remain within UE expense of Aste Bolaf fi. On request, af-
buyer, nor by anyone else, without Aste 1. Buyer's premium of 18% ter payment has been made, lots can be
Bolaf fi prior writ ten consent. 2. VAT on hammer price at the following shipped by insured parcel post at the risk
rates: and expense of the buyer. The possible
3 – Participation in the saleroom expor t duties are also for the account of
Aste Bolaf fi reser ves the right to request • books 4% the buyer. Any expor t requests will be
information from the par ticipants in the • stamps 10% made by the auction house on behalf of
bidding as regards their identit y and bank • all other categories 22% the buyer to the appropriate government
references, as well as the right to refuse 3. VAT payable at 22% on buyer's premium of fices. The buyer will be required to pay
undesirable elements entr y to the sale- -Goods that are shipped outside UE all costs on receipt of the invoice.
room. If the par ticipant is acting in the Buyer's premium is the same as
name and on behalf of another physical that one applied in case of VAT 11 – Exportation of lots
or legal person, a valid power of at torney margin (see paragraph 6). Custom duties and expor t costs are for
must be exhibited prior to the auction. VAT REFUNDS the account of the buyer. Requests to
issue cer tification of free circulation for
Private clients residing outside Europe
4 – Participation by correspondence, may obtain a refund of the VAT on the expor t, in accordance with the legislative
telephone link, online hammer price by presenting an of ficial provisions in force on the subject, must
By signing and submit ting the special document (customs form) that proves that be made to the appropriate government
forms, the par ticipant agrees to par- the goods will leave the European Union of fices by the auction house on behalf of
ticipate in the auction referred to and within 90 days of deliver y. Non-resident the buyer. The buyer is required to pay
under takes to pay the purchase price clients required to pay VAT, who reside the expenses on receipt of the invoice.
hammered if his/her of fer(s) should be in other EU countries or outside the EU, Approximately 10/12 weeks are necessar y
successful. The par ticipant also takes may request a refund of the VAT on the to obtain authorization for expor t.
responsibilit y for ascer taining, af ter the hammer price, as well as of the VAT at Lots impor ted according to the rules of
auction, whether his/her of fer has been 22% calculated on the auction commis- Temporar y Impor tation E are not cov-
successful, relieving Aste Bolaf fi of any sions, by presenting an of ficial document ered by the relative provisions of Italian
liabilit y in that respect. Claims due to (CMR or customs form) proving that the law concerning the cultural heritage. For
negligence or error in filling out writ ten goods will leave Italy or the European this reason it will not be necessar y to is-
of fers by mail will not be accepted. Aste Union within 90 days of deliver y. In case sue cer tification of free circulation. The
Bolaf fi has no liabilit y toward those who of shipment of the goods outside Italy by lots cannot be withdrawn by the buyers,
par ticipate in the auction by telephone the auction house, the refundable VAT as but will have to be shipped by the auc-
link and/or online in case of failure to detailed above will not be included in the tion house.
par ticipate due to possible problems that invoice.
may occur during or prior to the tele- 12 – Condition reports
phone and/or internet connection. 8 – Lots being sold under Temporary Im- The lots are sold “as is”. Catalogue de-
portation rules
scriptions as well as any other indica-
5 – Bids The symbol E af ter a lot number indi- tion or illustration regarding the lots, are
Lots are awarded to the highest bidder. cates that it is sold in accordance with purely statements of opinion and are not
Aste Bolaf fi –reser ves the right to cancel the Temporar y Impor tation procedure. to be relied upon as statements of war-
the award in case of possible contesta- Lots purchased according to the rules rant y. Potential buyers are encouraged to
tions. No bids will be accepted for any of Temporar y Impor tation E cannot be inspect the lots in person or through a
lot below its star ting price. No “without withdrawn directly by the buyer, but knowledgeable representative during the
limit ” bids, or “upon examination” bids will have to be shipped, af ter closing the pre-auction viewing in order to assess
or bids which combine t wo or more lots Temporar y Impor tation process, by the their authenticit y, preser vation, prov-
will be accepted. The star ting price is the auction house. enance, qualit y and any defects. On re-
price indicated as the base price, unless 9 – Payment quest and for guidance only, Aste Bolaf fi
dif ferent, higher of fers have been re- Upon sale of a lot, if present in the sale- provides condition repor ts that can add
ceived, in which case the star ting price room, the buyer shall pay the purchase more information to the catalogue de-
will be that of the increment subsequent price promptly to Aste Bolaf fi on deliver y scriptions.
to the next to last of fer. (In case of iden- of the lot. If bidding via telephone, writ- Rare books and autographs auction: The
tical commission bids, the first to arrive ten form, or online, the purchase price buyer shall not be entitled to dispute any
will receive precedence, and in any case shall be paid within 7 days of receipt of damage to bindings, foxing, wormholes,
these take precedence over equal of fers the invoice. Payments may be made in trimmed pages or plates or any other de-
made in the saleroom). The size of incre- cash, within the limits established by fect af fecting the integrit y of the text
ments will be regulated at the auction- law, by cer tified and/or personal check and /or its illustration including: indexes
eer's discretion. The minimum increment of plates, blank pages, inser tions, supple-
will be € 25. The auctioneer reser ves the or credit card. Payments will not be ac- ments and addictions subsequent to the
268 FIL ATELIA