Aste Dolomia of Montesi Massimo, with principal and operating office in Rovereto, n. 26/28, St. Maria Rd
The following translation is for courtesy purposes only; for any inconsistency, the Italian version shall prevail.
Aste Dolomia di Massimo Montesi, a company with only one holder, with principal and operating office in Rovereto (TN), Via S. Maria, No. 26/28, Italy.
1. Aste Dolomia in carrying out its selling activity, acts as an agent on an exclusive basis in its name but on behalf of each Seller, whose name is registered in the special books held at Aste Dolomia’s office pursuant to the Police Regulations. The sales shall be deemed concluded directly between the Seller and the Buyer (hereinafter referred to as the “Buyer”); it follows that Aste Dolomia undertakes no responsibility except that deriving from its role as agent.
2. The lots are knocked down to the highest bidder and by cash. The Buyer, by making its bid, undertakes to pay to Aste Dolomia the hammer price of the lot plus the commission for the auction rights due to Aste Dolomia plus taxes and other charges applicable to the sale and to the commission. Aste Dolomia shall not accept any kind of transfer of the lots sold to third parties, and shall hold the Buyer exclusively liable for the payment. The participation at the auction in the name of and behalf of third parties is subject to the prior deposit, at Aste Dolomia premises, of a legalized power of attorney and of satisfactory bank references.
3. Aste Dolomia reserves the right to withdraw any lot at his sole discretion and without need of any notice. During the auction, the auctioneer in its absolute discretion is entitled to change the order of sale, to join and/or separate any two or more lots. Aste Dolomia, moreover, shall also withdraw lots if the bids do not reach the reserve price, as agreed between Aste Dolomia and the Seller. The minimum rate by which a bid may be increased is approximately 10%, unless otherwise agreed before the Sale. If any dispute arises between two or more bidders, the disputed lot shall - at the sole discretion of the auctioneer - immediately be re-offered and resold.
4. Each prospective Buyer must complete and sign a registration form including personal data and bank references, prior to each auction, in order that they may bid through their assigned number. If the registration Form is not completed and signed, any eventual sale will not be valid.
Said data shall be treated confidentially pursuant to the applicable laws on privacy, as indicated in details in the appropriate notice delivered to the prospective buyers. Aste Dolomia reserves to itself the right to refuse bids made by persons not registered or not identified or who has not given satisfactory bank references.
5. In addition to the hammer price, the Buyer shall pay to Aste Dolomia, for each lot, a premium equal to 25% of the hammer price up to Euro 50.000,00, and equal to 22% of the balance of the hammer price above that sum. On these premium Aste Dolomia will apply the margin scheme, (for more information regarding the margin scheme and these charges, please see Commission, Premium, VAT and Charges in ‘Buying at Aste Dolomia’). In certain cases identified by a symbol, VAT continues to be charged:
- Lots which have been consigned for Sale by VAT registered sellers (identified in catalogue with the symbol (∆)); lots in temporary importation from non-EU countries (identified in catalogue with the symbol (*));
There are also:
5a. Lots identified with letters (Σ)
In Italy the Legislative Decree No. 118/2006 provides a so-called “Diritto di Seguito” (artist’s resale Right), namely the right of the artist who created figurative works or manuscripts, during his entire life and the right of his heirs for a period of 70 years from the artist’s death. This allow him/them to receive a payment calculated on a percentage of the sale price of the originals of his works on occasion of subsequent sales of the artist’s works. For lots that appear with this symbol the buyer is committed to pay a ”droit de suite”. Such artist’s resale royalty will be charged to the Bayer and it will be applied where the hammer price is Euro 3.000,00 or more and the amount cannot be more than Euro 12.500,00 per lot.
The amount of the compensation is calculated as follows:
4% for the sum of the hammer price up to Euro 50.000,00;
3% for the sum of the hammer price between
Euro 50.000,01 and Euro 200.000,00;
1% for the sum of the hammer price between
Euro 200.000,01 and Euro 350.000,00;
0,50% for the sum of the hammer price between
Euro 350.000,01 and Euro 500.000,00;
0,25% of the hammer price in excess of Euro 500.000,00.
The artist’s compensation charged to Buyer shall be paid by Aste Dolomia to SIAE (Società Italiana degli Autori ed Editori) pursuant to what prescribed by the Italian law.
5b. Lots identified with letters (SR)
Lots that are not subject to a reserve are identified by the letters (SR) next to the lot number. These lots will be sold to the highest bidder regardless of the pre-sale estimate printed in the catalogue. When lots are not identified with these letters, they have a Reserve. The Reserve is the confidential minimum price the consignor will accept and will not exceed the low pre-sale estimate. If all lots for sale are without reserve, it will be clearly indicated in the header of the catalogue.
5c. Lots identified with letters (TI)
This indicates that the lot is in the temporary importation pursuant to art. 72 of the Urbani Code and cannot be exported by the buyer until complete transformation of the practice of temporary export to the final (see "Buying from Auctions Dolomite").
6. Aste Dolomia will be entitled to execute bids on behalf of clients (written and telephone bids) making bids through the auctioneer in competition with the other bidders attending the Sale. In the event of two identical bids, the written bid shall prevail over the oral one. If identical written bids are received from two or more parties for the same lot, the first bid received by Aste Dolomia shall take precedence. Aste Dolomia will be not held liable for Bids Form inaccurate or for mistakes relating its execution, especially when incomplete, incorrect, or unclear, or should the bank references be insufficient. In these cases, Aste Dolomia reserves the right to cancel the Sale of the lot.
7. Aste Dolomia acts as mere agent of the Sellers and shall not be held liable for the description of the lots in the catalogues, brochures and other publications.
Statements in the catalogue or condition reports or any other indication or illustration regarding the lots, are purely statements of opinion and are not to be relied upon as statements of warranty. Before every auction, an exhibition of the lots shall take place in order to allow a thorough evaluation of the authenticity, the state of preservation, the provenance and the type and quality of any lot.
Following the Sale, neither Aste Dolomia nor the Sellers shall be liable for any defects relative to the state of preservation, nor do they warrant the correctness of statements concerning attribution, authenticity, provenance, Aste Dolomia nor its personnel shall have the authority to make or give any representation or warranty in this respect, except for cases provided by law. Without prejudice to what established hereinabove or by imperative provisions of law, any liability for damages either by Aste Dolomia or by the Seller shall be limited to the hammer price of the related lot.
On request, Aste Dolomia may provide, as service to interested client, a condition report. Prospective Buyers should note that descriptions of property are not warranties and that each loti s sold ‘as is’. The lack in description of lots conditions does not mean that it is in perfect conditions. The handling of lots during exhibition is at the risk of those who do it. In case of big or heavy lots, clients are requested to apply for assistance of Aste Dolomia’s staff.
8. The estimates regarding the possible sale price of each lot are expressed in Euro and are printed under their description in the catalogue and are not inclusive of commissions payable by the Buyer to Aste Dolomia. Estimates are subject to revision at any moment, so that the lots may be offered at the auction at a price different from that indicated in the catalogue. The description of the lots in the catalogue can also be subject to revision by way of appropriate communications to the public during the auction.
9. After the award nor Aste Dolomia nor the Sellers shall be liable for defects related to the condition, for the erroneous attribution, authenticity, provenance, weight or lack of quality of the items. Nor Aste Dolomia nor the staff responsible for Aste Dolomia will release any guarantee to that effect, except as required by law. Notwithstanding the foregoing, and as provided by mandatory law, any liability for damages either towards Aste Dolomia or the Seller shall not exceed the amount of the award of the related lot.
10. The Buyer shall pay to Aste Dolomia the hammer price plus the commission due to Aste Dolomia for the action fees immediately after the conclusion of the auction and, in any case, within 7 working days, unless otherwise previously agreed in writing with Aste Dolomia. In the event of delays in the payment of the hammer price plus commissions by the Buyer, Aste Dolomia may charge to the Buyer liquidated damages at the rate of 12% per year. This will be calculated for the actual days of delay, saving the right of Aste Dolomia, after the elapse of 7 days from the auction, to cancel the sale of the lot and to resell the lot by future auction or by private sale, withholding in any case, as liquidated damages, advance payments, if any, made by the Buyer. The unpaid lots shall be kept in custody by Aste Dolomia at risk and cost of the Buyer until they are sold (as provided for in the precedent paragraph), or returned to the Seller upon his request, it being understood that, until the sale or the return of the lots to the Seller, the Buyer shall be obliged to pay to Aste Dolomia the above mentioned liquidated damages.
11. The Buyer, after the payment of the hammer price and of the commission, should collect the lots at his own risk and costs within seven days from auction. After this time, Aste Dolomia shall not be held liable towards the Buyer with reference to the custody, to any possible deterioration or wear and tear of the lots and will have right to transfer lots which have not been collected at the expense and risk of the Buyer to its office or to private or public warehouse.
Aste Dolomia may arrange to have the lots packed, insured and shipped at the express request, expense and risk of the Buyer, upon receipt of the related payment.
12. The Buyer, with respect to the lots declared of significant interest by the Italian State, shall comply with the provision set forth in the Legislative Decree No. 42 of January 22, 2004 (so called “Codice dei beni culturali”).
The export of lots by the Buyers, both resident and not resident in Italy, is governed by the above-mentioned provisions of law and are subject to customs, currency and tax-regulations in force.
Aste Dolomia shall not be held liable for any restrictions on export of the sold lots or for any licenses or permits that the Buyer must obtain under Italian law. In the event that the Italian State exercise the right of pre-emption, the Buyer shall not be entitled to receive either from Aste Dolomia or from the Seller any refund of the interest on the sale price and on the commissions already paid to Aste Dolomia.
13. All information about metal trademarks, the gold weight, carat of diamonds and colored gemstones are merely indicative and approximate and Aste Dolomia cannot be held responsible for any errors in that information or for forgery artfully valuables. Aste Dolomia not guarantee certificates accompanying precious performed by independent gemological laboratories, although references to the results of these tests may be referred as information to the Bidders. As regards to properties of electrical or mechanical nature, they are to be considered only because of their artistic value and decorative, and are not assumed to be operative. It is important before use that a qualified electrician certifies the electrical system. In case of auctions concerning Book Sales, the Byer shall not be entitled to dispute any damage to bindings, foxing, wormholes, trimmed pages or plates or any other defect affecting the integrity of the text and/or illustrative material, including missing indices of plates, blank pages, insertions, supplements and addictions subsequent to the date of publication of the work. No refund will be considered for books not described in the catalogue. In case of auctions concerning paintings, the Buyer shall not be entitled to dispute on picture frames when the frame is part of a painting, therefore lacking an autonomous value.
14. If, within 15 days from the date of the sale, the Buyer has notified Aste Dolomia in writing that he/she has grounds for believing that the lot concerned is a forgery or has substantial defects, Aste Dolomia shall be entitled, in its sole discretion, to cancel the sale and disclose to the Buyer the name of the Seller, giving prior notice to him/her.
15. In the event that Aste Dolomia is notified or become aware of a claim by a third party about the ownership or possession or control of one or more lots, it may, in its absolute discretion, retain possession of the lots for such period, as it is reasonable for the settlement of the claim.
16. These general conditions of sale shall be accepted entirely and automatically by the Sale participants and are available to any person requesting them. Any dispute relating to these general conditions on the auctions shall be submitted to the exclusive jurisdiction of the Rovereto Courts and shall be governed by Italian Law, saving Aste Dolomia rights to submit the claim to the Court where the defendant is resident.
