FREE AND CONFIDENTIAL VALUATIONS
With its own team of experts selected for their experience and professionalism, Arcadia constantly provides free, confidential valuations, including with appraisals and opinions on individual works or entire collections. Lead-times for these valuations are short and works can be viewed directly at the headquarters or at the customer’s home.
To request a valuation, just make an appointment and if possible provide in advance photographs and useful information (dimensions, technique, provenance, bibliography, certifications, purchase documents). For owners wishing to attempt to sell entire collections at auction, Arcadia produces targeted catalogues with a specific graphic design rich in images of the original settings and detailed profiling, supported by ad hoc marketing plans and precise studies of key markets.
Please see the personal data processing policy available on www.astearcadia.com or displayed at headquarters.
MANDATE TO SELL
The task of managing customers’ works at auction will be formalised with a Mandate to Sell which states the agreed premium of the auction fees and any dues for insurance, marketing, transportation, certifications and any other expenses which should become necessary.
Completion of the mandate requires your tax code and a valid identity document for annotation on the police registers as provided by the laws in force. Lastly, the Mandate to Sell comprises two attachments: the goods record and the General Sales Terms. The goods record shows a full list of the goods for sale with the related agreed reserve prices and the General Mandate Terms are the set of clauses defining the business relations of the principal and Arcadia.
The reserve price is the confidential minimum price agreed by Arcadia and the principal, below which the lot cannot be sold. It is strictly confidential, is not revealed by the Auctioneer during the auction, and is stated in the mandate to sell alongside the description of each lot. Should the reserve price not be achieved, the lot will be unsold and withdrawn from auction. Lots offered without reserve are marked in the catalogue with the estimate or the caption S.R. (Senza Riserva – Free Bid) and will be knocked down to the highest bidder irrespective of the estimates published in the catalogue.
INCLUSION OF LOTS IN THE CATALOGUE – AUCTION RESULTS – PAYMENT
Before each auction the principal receives a communication with the list of goods included in the catalogue and their lot numbers. The auction results will be notified within two working days of the auction date.
Payment will be made within 30 working days from the auction date, and in all cases 5 working days after collection by the seller. On payment an invoice is issued containing the detail of the lots, the related sales premium agreed in the mandate and all other expenses agreed.
Legislative decree 118 of 13 February 2006 introduced the right of authors of works and manuscripts, and their heirs, to a royalty on the price of each sale, subsequent to the first, of the original work; the so-called “resale right”. This royalty is due if the sales price is not less than euro 3,000.00 and is calculated as follows:
4% for the part of the sales price between € 3,000 and € 50,000
3% for the part of the sales price between € 50,000.01 and € 200,000
1% for the part of the sales price between € 200,000.01 and € 350,000
0.5% for the part of the sales price between € 350,000.01 and € 500,000
0.25% for the part of the sales price between above € 500,000.
Arcadia is required to pay the “resale right” on behalf of sellers to the Società Italiana degli Autori ed Editori (SIAE). Should the lot be subject to the so-called “resale right” under art. 144 of law 633/41, the successful bidder undertakes to also pay the amount the Seller would be required to pay under art. 152 of Law 633/41 and which Arcadia in turn undertakes to pay to the party responsible for collection.