Conditions of Sale

Arcadia's obligations towards the purchaser

Casa d'Aste Arcadia s.r.l. (hereinafter "Arcadia") conducts auction sales in its premises open to the public, in its capacity as 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.

Auction sale

1. In order to improve the auction 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 start 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 that purchaser or its representative at subsequent auctions.
2. 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 auctioneer's hammer blow. 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 shall be entitled to withdraw from the auction, separate or combine lots, and possibly change the order of sale.
3. Arcadia accepts bids for lots at specified prices, subject to a specific mandate. Internet and telephone bids may be made during the auction, which are accepted at the sole discretion of Arcadia and forwarded to the auctioneer.
   Telephone conversations may be recorded.

Liability of the seller and Arcadia towards the buyer

1. The lots offered for sale are to be considered second-hand or antique goods and therefore do not qualify as "products" according to the definition in Article 3 letter e) of the Consumer Code (Legislative Decree 6.09.2005 no. 206).
2. An exhibition of the works will precede the auction, during which Arcadia and its experts will be at your disposal for any clarification; the exhibition is intended to allow you to 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 not possible 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 disputes shall be allowed and neither Arcadia nor the seller shall be held liable for any defects in the information concerning the items at auction.
3. The lots put up for auction are sold in the state in which they are found at the time of the exhibition, with all relative defects and imperfections such as breakages, restorations, lacks 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.
4. The descriptions or illustrations of lots contained in the catalogues and in any other illustrative material are for information purposes only 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. In addition, illustrations of items presented in catalogues, on screens or other illustrative material are for the sole purpose of identifying the lot and may not be considered accurate representations of the state of preservation of the item.
5. The estimated 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 responsibility

1.  The Buyer's Premium is established as follows: To the extent of 29.00% of the lot award price up to the amount of EUR 5,000.00; to the extent of 25.00% for the exceeding part up to an amount equal to euro 200,000.00; for any part of the adjudication price exceeding the amount of euro 200,000.00, the purchase commission is established at the amount of 22.00%. 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.
2. The buyer 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 after 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 said term, Arcadia shall have the right, 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; 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 buyer, subject in any case to the right to compensation for damages.
3. After the expiration of the above time limit, Arcadia shall in any case be exempt from any liability to the successful bidder with respect to any deterioration or spoilage of the items, and shall be entitled to have custody fees paid for each individual lot, in addition to any reimbursement of costs 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.

Compliance: notification, export, protected species and anti-money laundering

1. In the case of items subject to notification by the State pursuant to Legislative Decree 22.01.2004 no. 42 (the so-called Cultural Heritage Code) and subsequent amendments and integrations, purchasers shall be bound to 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.
2. The export 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 licence of free circulation issued by the competent Authority. Arcadia assumes 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.
3. A CITES export licence issued by the Ministry of the Environment and Territory Protection is required for each lot containing materials belonging to protected species such as, for example, coral, ivory, turtle, crocodile, whalebone, rhino horn, etc. Potential buyers are urged to inquire at the country of destination about the laws governing such imports.
4. The resale right shall be charged to the seller pursuant to Art. 152 of L. 22.04.1941 no. 633, as replaced by Art. 10 of Legislative Decree 13.02.2006 no. 118.
5. Pursuant to and for the purposes of art. 22 of the Italian Legislative Decree no. 231/2007 (Anti-Money Laundering Decree), the customer undertakes 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 of 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.
For further details on data processing and rights, please refer to the full privacy policy which can be viewed on the website or at our offices.

FORUM

These Conditions of Sale, which are 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 auction activities.

COMMUNICATIONS

Any communication concerning 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.