Obligations of Arcadia towards the buyer
Auction House Arcadia s.r.l. (hereinafter "Arcadia") conducts sales by auction at its premises open to the public, as an agent with representation in its own name and on behalf of the seller, pursuant to art. 1704 of the Italian Civil Code. Arcadia therefore does not assume any liability towards buyers or third parties in general other than that arising from its capacity as agent.
In order to improve the auction sale procedures, all those interested in bidding are required to register their personal details, address and copy of an identity document in order to provide themselves with a numbered "paddle" for bidding, prior to the commencement of the auction. At the same time, interested parties accept the Conditions of Sale and give their consent to the processing of the aforementioned personal data.
Arcadia reserves the right to reject bids from unregistered purchasers and, as a result of non-payment or delayed payment by a purchaser, Arcadia may reject any bid made by such purchaser or its representative at subsequent auctions.
Lots are awarded to the highest bidder. The auctioneer conducts the auction and may make the first bids in the interest of the principal.
The sale between the seller and the buyer is sanctioned by the hammer blow of the auctioneer. In the event of a dispute over an adjudication, the lot is put up for auction again at the same session, on the basis of the last bid received. The auctioneer has the right to withdraw from the auction, separate or combine lots, and possibly change the order of sale.
Arcadia accepts bids for the purchase of lots at set prices, upon specific mandate. During the auction, bids may be made via the Internet and by telephone, which are accepted at the sole discretion of Arcadia and forwarded to the auctioneer.
Telephone conversations may be recorded.
Liability of the seller and of Arcadia towards the buyer
The lots offered for sale are to be considered as second-hand or antique goods and therefore do not qualify as "products" according to the definition set forth in art. 3 letter e) of the Consumer Code (Legislative Decree 6.09.2005 no. 206).
The auction shall be preceded by an exhibition of the works, during which Arcadia and its experts shall be at your disposal for any clarification; the exhibition shall be aimed at having you examine the authenticity, attribution, state of preservation, provenance, type and quality of the objects and to clarify any errors or inaccuracies in the catalogue. If it is impossible to view the objects directly, a 'Condition Report' can be requested. The lack of explicit reference to the condition of the lot does not imply that the item is without imperfections. All items are sold as "seen" and therefore, before participating in the auction, potential buyers undertake to examine the lots of interest thoroughly, possibly assisted by an expert of their choice. After adjudication, no objections may be made and neither Arcadia nor the seller may be held liable for any defects in the information concerning the items up for auction.
The lots put up for auction are sold in the state in which they are found at the time of display, with any related defects and imperfections such as breakages, restorations, missing or replacements. Such characteristics, even if not expressly indicated in the catalogue, cannot be considered decisive in any dispute over the sale. Antiques by their very nature may have undergone restoration or undergone modifications of various kinds: interventions of this kind can never be considered hidden defects or counterfeits. Goods of an electrical or mechanical nature are not checked before sale and are purchased by the buyer at his own risk. Watch movements are to be considered as not having been serviced.
The descriptions or illustrations of the lots contained in the catalogues and in any other illustrative material are purely indicative and reflect the opinions of Arcadia and its experts. They may be subject to revision at any time before the lot is offered for sale. Arcadia shall not be held liable for errors and omissions relating to such descriptions, nor in the event of counterfeiting, as no warranty is given on the lots at auction. Furthermore, the illustrations of the objects presented in the catalogues, on the screens or other illustrative material are solely for the purpose of identifying the lot and may not be considered accurate representations of the state of conservation of the object.
The appraisal values indicated in the catalogue are expressed in euros and are merely an indication. These values may be equal to, higher or lower than the reserve prices of the lots agreed upon with the principals.
Payment and collection; transfer of liability
A purchase commission (auction fee) in the amount of 25.00 % of the allotment price of the lot up to the amount of euro 400,000.00 shall be added to the allotment price. For any part of the adjudication price exceeding the amount of euro 400,000.00 the purchase commission is set at 21.00%. The above percentages are to be understood as VAT included, pursuant to the laws in force. Any further charges or taxes relating to the purchase shall in any case be borne by the successful bidder.
The purchaser shall make a down payment upon adjudication and complete payment before collecting the goods at his own care, risk and expense no later than fifteen days from the end of the sale. In the event of non-payment, in whole or in part, of the total amount owed by the successful bidder within this term, Arcadia shall be entitled, at its own discretion, to: a) return the goods to the buyer, demanding as a penalty from the unsuccessful buyer the payment of the lost sales commissions; b) take legal action to obtain the compulsory execution of the purchase obligation; c) sell the lot by private treaty or in subsequent auctions on behalf of and at the expense of the successful bidder, pursuant to art. 1515 of the Italian Civil Code, without prejudice to the right to compensation for damages for any loss suffered by the buyer as a result of the sale; d) sell the lot by private treaty or in subsequent auctions on behalf of the successful bidder, pursuant to art. 1515 of the Italian Civil Code, without prejudice to the right to compensation for damages for any loss suffered by the latter as a result of the sale, without prejudice in any case to the right to compensation for damages.
After the expiration of the above time limit, Arcadia shall in any case be exempt from any liability to the successful bidder in relation to any deterioration or deterioration of the items, and shall be entitled to be paid for each individual lot the custody fees as well as any reimbursement of expenses for transport to the warehouse. Any risk for loss or damage to the adjudicated goods shall be transferred to the purchaser from the moment of adjudication. The buyer shall be entitled to take delivery of the purchased goods only upon payment to Arcadia of the price and any other inherent fees, costs or reimbursements.
Requirements: notification, export, protected species and anti-money laundering
For items subject to notification by the State pursuant to Legislative Decree no. 42 of 22.01.2004 (the so-called Code of Cultural Assets) as amended and supplemented, purchasers shall comply with all applicable provisions of law. In the event of the State exercising its right of pre-emption, the successful bidder shall not be entitled to claim from Arcadia or the seller any reimbursement of any interest on the price and on the auction fees already paid.
The exportation of objects by purchasers resident or non-resident in Italy is regulated by the aforementioned regulations, as well as by the customs, currency and tax laws in force. Therefore, the exportation of objects dating back more than fifty years is always subject to a free circulation licence issued by the competent Authority. Arcadia accepts no liability towards the purchaser in respect of any restrictions on the export of the lots awarded, nor in respect of any licences or certificates to be obtained by the same under Italian law.
For each lot containing materials belonging to protected species such as, for example, coral, ivory, turtle, crocodile, whalebone, rhinoceros horn, etc., a CITES export licence issued by the Ministry for the Environment and Territory Protection is required. Potential buyers are urged to inquire at the country of destination about the laws governing such imports.
The following right shall be charged to the seller pursuant to art. 152 of L. 22.04.1941 no. 633, as replaced by art. 10 of L.D. 13.02.2006 no. 118.
Pursuant to Art. 22 of Legislative Decree n.231/2007 (Anti-Money Laundering Decree), customers undertake to provide all necessary and updated information to allow Casa d'Aste Arcadia S.r.l. to fulfill its obligations of customer due diligence. It is understood that the finalization of the transaction is subject to the release by the customer of the information requested by Casa d'Aste Arcadia S.r.l. for the fulfillment of the above obligations. Pursuant to Art. 42 D.Lgs n. 231/07, Casa d'Aste Arcadia S.r.l. reserves the right to abstain and not to conclude the transaction in case of objective impossibility to perform the customer due diligence.
PROTECTION OF PERSONAL DATA
Pursuant to art. 13 Legislative Decree 196/2003 (Personal Data Protection Code), Arcadia, in its capacity as data controller, informs you that the data provided will be used, by paper and electronic means, to fully and completely execute the sale and purchase contracts entered into by the same company, as well as for the pursuit of any other service inherent to the corporate purpose of Casa d'Aste Arcadia s.r.l.
The provision of data is optional, but is strictly necessary for the execution of the contracts concluded. Registration for auctions allows Arcadia to send catalogues of upcoming auctions and other information material relating to its activity.
These Conditions of Sale, governed by Italian law, are tacitly accepted by all parties participating in the auction procedure and remain available to anyone who requests them.
The Court of Rome shall have exclusive jurisdiction over any and all disputes arising in connection with Arcadia's auctions.
Any communication regarding the sale must be made by registered letter with return receipt addressed to:
Arcadia Auction House S.r.l.,
Corso Vittorio Emanuele II, 18 - 00186 Rome.