BEFORE THE AUCTION
How to participate in auctions organised by Arcadia
Auctions and exhibitions are open to the public without any obligation to purchase and are held at the premises of Casa d'Aste Arcadia S.r.l. (hereinafter Arcadia):
Palazzo Celsi - Corso Vittorio Emanuele II, 18 - 00186 Rome
Participation in the auction implies full acceptance of the Conditions of Sale.
Exhibition
The auction is preceded by an exhibition open to the public, the purpose of which is to allow the public to carefully examine and assess the characteristics, state of preservation and quality of the lots for sale. During the exhibition, Arcadia's experts are available to potential buyers for any clarification.
Those unable to view the works directly may request the Condition Report of the works of interest.
The complete information is collected in the Conditions of Sale, which are displayed at the Auction House headquarters in Rome, and published in the auction catalogue and on the website www.astearcadia.com.
Participate in the Arcadia LIVE auction
Discover the innovative Arcadia LIVE real-time auction technology and register on the site to take advantage of the benefits.
Written bids before the Auction
If it is not possible to participate in the auction, potential buyers may submit written bids during the exhibition by filling in and sending the appropriate form published in the catalogue and on the website. Bids are made by indicating the maximum bid, considering that lots will always be purchased at the lowest price. This means that the lot may be awarded to a bidder even below this amount, but that in the event of a higher bid it will be awarded to the highest bidder.
In the event of bids indicating the same amount, the bid received first will be awarded.
Telephone offers: booking
Potential buyers, in order to attempt to purchase the lots of interest, can also book the telephone bidding service to be connected to the auction via telephone.
The telephone bidding service is free of charge, but available while lines last. Participation in the auction by telephone implies full acceptance of the Conditions of Sale. In some cases, the Customer may be expressly requested to accept an adjudication of the lot of interest at the minimum estimate published in the catalogue.
The customer also agrees that telephone calls may be recorded.
Auction Catalogue
The descriptions in the auction catalogue indicate the artist (if available or known, or the attribution), the period, provenance, dimensions, state of preservation and valuations of the individual objects.
The base auction price is the starting figure for the auction and is normally lower than the minimum estimate. The reserve is confidential and is the minimum figure agreed upon with the consignor, which may be lower, equal to or higher than the estimate in the catalogue.
All estimates and valuations regarding the lots for sale are merely indicative opinions, as better explained in the Conditions of Sale.
Subscription to catalogues
If you are interested in receiving the auction catalogue and subscribing to it, please send a request to: info@astearcadia.com
Estimates published in the catalogue
The estimates published in the auction catalogue are merely indicative opinions for potential buyers. Lots may therefore fetch prices both above and below the indicated valuations. The valuations published in the auction catalogue do not include the buying commission and VAT, if due.
Lot conditions
Potential buyers undertake to carefully examine the lot during the pre-auction exhibition. Upon request, Arcadia will provide a 'Condition Report', i.e. a photographic report on the condition of the lot.
The lack of explicit reference to the condition of the lot does not imply that the good is without imperfections.
Meaning of the symbols in the catalogues
| Lots owned by Arcadia | If lots are marked with this symbol, ownership belongs in whole or in part to Arcadia Auction House s.r.l.. |
| Interested Party | Indicates the case where bids may also be made on the lot by persons with an interest, such as a co-owner or executor who has sold the lot. |
| Without Reserve | Open bid. The reserve is the minimum auction price agreed between Arcadia and the Principal, below which the lot may not be sold. In the event that a lot is sold without a reserve, it will be marked with this symbol. |
| Right of Follow-up | For the lots marked with this symbol, the Buyer undertakes to pay the "Right of Resale", which it would be incumbent on the Seller to pay pursuant to Art. 152, Section I, Law No. 633 of 22 April 1941, in the amount determined in the "Right of Resale" section above. |
| Lot from enterprise | Lot from enterprise, where the award value is subject to VAT. |
| Lot under temporary importation | Lot under temporary importation pursuant to Art. 72 of the Urbani Code or for which temporary importation has been requested. |
| Free Movement | Lots marked with this symbol are understood to be accompanied by a certificate of free circulation or certificate of temporary artistic importation into Italy. |
Meaning of terms in the catalogues
| Attributed to ... | Arcadia's opinion that it may be the work of the quoted artist, in whole or in part |
| Workshop of ... school of ... |
Arcadia's opinion that it is the work of an unknown hand from the indicated artist's workshop, which may or may not have been executed under his direction or in the years following his death |
| Circle of ... | According to Arcadia it is the work of an unidentified hand, not necessarily a pupil of the artist mentioned |
| From ... | Copy of a known work by the indicated artist, but of unspecified date |
| Date entered | It is Arcadia's opinion that these data were added by a hand or at a time other than the artist indicated |
| Dated signed registered |
Arcadia's opinion is that the work appears to be truly signed, dated or inscribed by the artist who executed it |
| Defects | The lot has visible and evident missing, cracks or wear |
| Ancient elements | The objects in question were subsequently assembled using elements or materials from previous eras |
| Registered signature or bearing signature |
Arcadia's opinion that the signature was added at a different time by a different hand than the artist indicated |
| In the style ... | Opinion according to Arcadia of work in the style mentioned although it was executed at a later date |
| Additions and/or replacements | Mentioned only in cases where interventions are considered by Arcadia to be far above average and such as to compromise at least partially the integrity of the lot |
| "Name and Surname" (e.g. Mattia Preti) | Opinion according to Arcadia of work executed by the indicated artist |
| Restorations | Goods sold at auction, being antique or otherwise used, are in almost all cases subject to restoration |
| Century ... | Dating as a guide only, which may include margins of approximation |
| Follower of ... | According to Arcadia, he was an author who worked in the style of the artist |
| Style of ... | Opinion according to Arcadia of work in the style of the indicated artist, but executed at a later date |
| 70 x 50 350 x 260 160 g |
The dimensions of paintings indicate first the height and then the base and are expressed in cm. The dimensions of works on paper are instead expressed in mm. The weight of silver objects is calculated net of metal, glass and crystal parts. |
PARTICIPATE IN THE AUCTION
How to participate and bid in the auction
Auction participation
Auctions and exhibitions are open to the public and with no obligation to purchase. Participation in the auction may take place via direct presence in the auction room, via telephone connection, via the Internet via our website or via the main online auction portals indicated in the catalogue and website.
For more information contact Arcadia:
Casa d’aste Arcadia s.r.l.
Corso Vittorio Emanuele II, 18 00186 – Roma
Tel.: (+39) 06 68309517, Fax: (+39) 06 30194038
Email: info@astearcadia.com
Auction registration: paddles
In order to improve the auction procedures, all potential buyers must obtain a numbered 'paddle' in advance to place their bids. You can obtain the pallet number during the exhibition or on the day of the auction round.
Registration consists of filling in a form with personal data, any bank references and credit card authorisations, and full acceptance of the terms and conditions of business and data processing.
Internet offers
Participation in an internet auction requires registration with the website or online auction portals (live bidding providers) indicated in the auction catalogue. The registration procedure and how to access the auction are indicated by the platform operators themselves.
After logging in, the customer can follow the progress of the auction and bid from their remote location. The screen in the auction room shows the progressive progress of all bids, including those received via the computer platforms.
Bids and offers
The room auctions progress with bids of the order of 10%, varying however at the discretion of the auctioneer.
Bids on auction lots may be placed:
- in the hall by showing the numbered paddle;
- by means of a written bid made prior to the auction;
- by telephone, through an operator (service to be booked);
- via the Internet through the website or online portals (live bidding providers).
The speed of the auction may vary from 60 to 90 lots per hour. Numbered paddles must be used to indicate bids to the auctioneer during the auction. The successful bidder of a lot must ensure that the pallet is seen by the auctioneer and its number is announced. In the event of any doubt as to the winning price or the buyer, the attention of the auctioneer or the auctioneer's staff must be drawn immediately.
The auctioneer may bid in the interest of the seller up to the amount of the reserve. The adjudication price is the sum at which the lot is awarded. To this sum, the buyer must add the Purchase Commission (or Auction Fee) calculated as a percentage of the adjudication price.
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 regulations in force.
AFTER THE AUCTION
What to do if a lot is awarded at auction?
Arcadia acts on behalf of the sellers by virtue of a mandate with representation and therefore does not replace the parties in accounting relationships. Arcadia's invoice shows the receipt of the amounts relating to the purchase commission (or auction fee) and VAT, and consists only of the part specifically highlighted.
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 regulations in force.
Payment Methods
If one or more lots are auctioned, payment must be made immediately after the auction and may be made by the following methods: bank transfer, cash (up to EUR 4,999.99), bank draft, cashier's cheque, Bancomat and Credit Cards (if the holder corresponds to the buyer).
Cash desk hours: Mon-Fri 10 a.m. - 1 p.m.; 3 p.m. - 7 p.m.
COLLECTION, SHIPPING AND PACKAGING
Purchased lots must be collected within two weeks after the sale. After this deadline, the goods may be transferred to a storage facility at the risk of the buyer. Transport and storage costs shall be charged to the successful bidder, and Arcadia shall be exempt from any liability to the successful bidder with respect to the custody, possible deterioration or deterioration of the items.
When collecting the lot, the buyer must provide proof of identity or a proxy.
Arcadia may arrange for the export, packaging and transport of the lots. These costs and the related insurance shall be borne by the buyer as indicated in the General Conditions of Sale.
GLOSSARY
Terms and Definitions
Certificate of Free Circulation.
Italian law requires a certificate of free circulation and an export licence for the export of works (cultural goods) that are more than 50 years old to be exported to countries outside the European Union.
In fact, the export of cultural goods outside the territory of the Italian Republic is subject to the discipline provided for by Legislative Decree no. 42 of 22 January 2004. The export of cultural goods outside the territory of the European Union is also subject to the discipline provided for by EC Regulation No. 116/2009 of 18 December 2008 and EU Commission Implementing Regulation No. 1081/2012.
The waiting time for the release of this documentation is approximately 40 days from the presentation of the work and related documents to the Fine Arts Superintendency.
Urbani Code
Legislative Decree No. 42 of 22 January 2004 as amended or supplemented;
Purchasing Commission (or Auction Fees).
This is the fee payable to Arcadia by the Buyer for the purchase of the Lot and calculated as a percentage of the allotment price.
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 rates are to be understood as VAT included, pursuant to the laws in force.
General Terms and Conditions of Sale
The general terms and conditions of sale represent the contractual clauses laid down by Arcadia and are intended to uniformly regulate contractual relations. with Buyers They are printed in the auction catalogues, are visible on the website www.astearcadia.com, and are used to standardise the rules that apply to the auction sale of entrusted goods.
Condition Report
Upon request, Arcadia may provide a report called a Condition Report on the condition and condition of the lot, accompanied by appropriate photographic documentation. At Arcadia's discretion, the Condition Report may be issued for lots exceeding a certain value.
Right of Resale
Legislative Decree No. 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 fee is due if the sale price is not less than Euro 3,000.00 and is determined as follows:
- 4% for the part of the sale price between € 3,000 and € 50,000;
- 3% for the portion of the sale price between €50,000.01 and €200,000;
- 1% for the portion of the sale price from € 200,000.01 to € 350,000;
- 0.5% for the portion of the sale price from € 350,000.01 to € 500,000;
- 0.25% for the portion of the sale price exceeding € 500,000.
Arcadia is obliged to pay the "resale right" on behalf of the sellers to the Italian Society of Authors and Publishers (SIAE). In the event the lot is subject to the so-called "resale right" pursuant to art. 144 of Law 633/41, the successful bidder undertakes to pay also the amount that the Seller would be obliged to pay pursuant to art. 152 of Law 633/41 and that Arcadia in turn undertakes to pay to the entity in charge of the collection.
Live Bidding Providers (o Live Auctions Marketplace)
Web platforms that host the world's major auctions and allow simultaneous participation in auctions, with the opportunity to follow the progress of the auction and bid from a remote location. To access the auction, one registers and uses the search functions to gain access to the auction of interest.
The process is similar to telephone bidding, but much faster.
Bidders can bid online using their own computer, or via the iPhone, Ipad and Androids apps.
Reserve
The minimum 'confidential' sales price indicated by the Principal to Arcadia.