20th Century Art

Conditions of Sale

These general conditions, together with the special notices regulate the
sale at auction and/or private negotiations of the lots transferred to Aste
Bolaffi S.p.a. (hereinafter "Aste Bolaffi"). Lots put up for auction are the
property of the consignors, who have guaranteed their complete availability
and legitimate and legal provenance. Aste Bolaffi acts exclusively
as a representative of the individual consignors, in its own name and
on their behalf. The consignor guarantees the authenticity of each lot
offered in the catalogue, without hidden defects unless otherwise stated
in the catalogue and/or by the auctioneer. Any indication of the state of
preservation of the lots is not to be considered binding.
2 - Images
The copyright in all images, illustrations and written material produced
by or for Aste Bolaffi relating to a lot or to a specific contents of this
catalogue, is and shall remain at all times the property of Aste Bolaffi
and shall not be used by the buyer, nor by anyone else, without Aste
Bolaffi prior written consent.
3 - Participation in the saleroom
Aste Bolaffi reserves the right to request information from the participants
in the bidding as regards their identity and bank references, as
well as the right to refuse undesirable elements entry to the saleroom.
If the participant is acting in the name and on behalf of another physical
or legal person, a valid power of attorney must be exhibited prior
to the auction.
4 - Participation by correspondence, telephone link, online
By signing and submitting the special forms, the participant agrees
to participate in the auction referred to and undertakes to pay the
purchase price hammered if his/her offer(s) should be successful. The
participant also takes responsibility for ascertaining, after the auction,
whether his/her offer has been successful, relieving Aste Bolaffi of any
liability in that respect. Claims due to negligence or error in filling out
written offers by mail will not be accepted. Aste Bolaffi has no liability
toward those who participate in the auction by telephone link and/or
online in case of failure to participate due to possible problems that
may occur during or prior to the telephone and/or internet connection.
5 - Bids
Lots are awarded to the highest bidder. Aste Bolaffi -reserves the right
to cancel the award in case of possible contestations. No bids will be
accepted for any lot below its starting price. No "without limit" bids, or
"upon examination" bids or bids which combine two or more lots will
be accepted. The starting price is the price indicated as the base price,
unless different, higher offers have been received, in which case the
starting price will be that of the increment subsequent to the next to
last offer. (In case of identical commission bids, the first to arrive will
receive precedence, and in any case these take precedence over equal
offers made in the saleroom). The size of increments will be regulated
at the auctioneer's discretion. The minimum increment will be € 25.
The auctioneer reserves the right to withdraw, add, group or divide lots,
as well as the right to refuse a bid in the saleroom or a commission bid.
6 - Purchase price
A commission in favor of Aste Bolaffi will be charged to the buyer, in
addition to the hammer price, as follows:
Numismatic and philatelic auctions: the Buyer shall pay the following
premium on the hammer price:
On first 250.000 22%
From 250.001 to 500.000 20%
An then 18% from 500.001.
All other auctions: the Buyer shall pay the following premium on the
hammer price:
On first 100.000 25%
From 100.001 to 250.000 22,5%
From 250.001 to 500.000 20%
An then 18% from 500.001.
7 - Lots with additional VAT
Lots with ± symbol are invoiced differently and have a different
buyer's premium on hammer price which vary depending on where the
item is shipped.
-Goods that remain within UE
1. Buyer's premium of 18%
2. VAT on hammer price at the following rates:
books 4%
stamps 10%
all other categories 22%
3. VAT payable at 22% on buyer's premium
-Goods that are shipped outside UE
Buyer's premium is the same as that one applied in case of VAT
margin.
VAT REFUNDS
Private clients residing outside Europe may obtain a refund of the VAT
on the hammer price by presenting an official document (customs form)
that proves that the goods will leave the European Union within 90 days
of delivery. Non-resident clients required to pay VAT, who reside in other
EU countries or outside the EU, may request a refund of the VAT on the
hammer price, as well as of the VAT at 22% calculated on the auction
commissions, by presenting an official document (CMR or customs form)
proving that the goods will leave Italy or the European Union within 90
days of delivery. In case of shipment of the goods outside Italy by the
auction house, the refundable VAT as detailed above will not be included
in the invoice.
8 - Lots being sold under Temporary Importation rules
The symbol E after a lot number indicates that it is sold in accordance
with the Temporary Importation procedure.
Lots purchased according to the rules of Temporary Importation E cannot
be withdrawn directly by the buyer, but will have to be shipped, after closing
the Temporary Importation process, by the auction house.
9 - Payment
Upon sale of a lot, if present in the saleroom, the buyer shall pay the
purchase price promptly to Aste Bolaffi on delivery of the lot. If bidding via
telephone, written form, or online, the purchase price shall be paid within
7 days of receipt of the invoice. Payments may be made in cash, within the
limits established by law, by certified and/or personal check or credit card.
Payments will not be accepted from parties other than the buyer. Interest
will be charged on delayed payments at the rate of 0.5% monthly, subject
to variation, on all amounts not paid within the regular terms.
Aste Bolaffi may grant possible extensions of payment terms on the basis
of agreements which will have to be formalized, in any case, prior to the
auction. If the buyer fails to make payment within thirty (30) days end of
month payment term, the auction house shall be entitled to rescind the
sale in accordance with the art. 1456 of the Civil Code by giving written prior
notice to the purchaser, with reserve of any further right and action for
compensation for any damages arising from non-fulfilment. Any amount
paid by the purchaser as part of the total price prior to the cancellation
of the sale will be applied by the auction house as a compensation in
accordance to the art. 1526 of the Civil Code, with reserve of any further
damages.
10 - Storage and Shipment
Until the full price has been paid and until delivery, lots are held in storage
on the premises of Aste Bolaffi and insured with adequate coverage at the
expense of Aste Bolaffi. On request, after payment has been made, lots
can be shipped by insured parcel post at the risk and expense of the buyer.
The possible export duties are also for the account of the buyer. Any export
requests will be made by the auction house on behalf of the buyer to the
appropriate government offices. The buyer will be required to pay all costs
on receipt of the invoice.
11 - Exportation of lots
Custom duties and export costs are for the account of the buyer. Requests
to issue certification of free circulation for export, in accordance with the
legislative provisions in force on the subject, must be made to the appropriate
government offices by the auction house on behalf of the buyer. The
buyer is required to pay the expenses on receipt of the invoice. Approximately
10/12 weeks are necessary to obtain authorization for export.
Lots imported according to the rules of Temporary Importation E are not
covered by the relative provisions of Italian law concerning the cultural
heritage. For this reason it will not be necessary to issue certification of
free circulation. The lots cannot be withdrawn by the buyers, but will have
to be shipped by the auction house.
12 - Condition reports
The lots are sold "as is". Catalogue descriptions as well as any other indication
or illustration regarding the lots, are purely statements of opinion
and are not to be relied upon as statements of warranty. Potential buyers
are encouraged to inspect the lots in person or through a knowledgeable
representative during the pre-auction viewing in order to assess their authenticity,
preservation, provenance, quality and any defects. On request
and for guidance only, Aste Bolaffi provides condition reports that can add
more information to the catalogue descriptions.
Rare books and autographs auction: The buyer 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 its illustration
including: indexes of plates, blank pages, insertions, supplements
and addictions subsequent to the date of publications of the work.
No refund will be considered for books not described in the catalogue. 
Poster auction:
• Condition A Poster in very fine condition. Colors are fresh; no paper
loss. Some slight defect or tear but very marginal. A+: wonderful example
of a poster rarely seen in such fine condition. A-: some slight dirt,
fold, tear or other minor restoration.
• Condition B Poster in good condition. Some slight paper loss, but
not in the image or in any important area. If some restoration it is not
immediately evident. Lines and colors good, paper may have yellowed.
B+: poster in very good condition. B-: in fairly good condition.
• Condition C Poster in fair condition. The light-staining may be more
pronounced, restorations, folds or flaking are more readily visible, and
possibly some minor paper loss occurs. The poster is otherwise intact,
the image clear, and the colors still faithful to the artist's intent.
• Condition D Poster in bad condition. A large part of such poster may
be missing, including some important image area; colors
13 - Extensions/Expertise
The auctioneer shall have the right at his absolute discretion to accept
or refuse any request for certifications of authenticity . It should
be noted, however, that extensions are not accepted for lots if the
description in the catalogue mentions that they are accompanied by
photographic certification. We further specify that any concession of
extensions/expert appraisals does not alter the terms of payment detailed
in section 8.
14 - Catalogues
Numismatic auction: Classifications refer to the following catalogues:
Bol. (Bolaffi Catalogue of coins and banknotes - Kingdom of Sardinia,
Kingdom of Italy, and Italian Republic), Bol. Vat. (Bolaffi catalogue of
city of Vatican coins) Bab. (Babelon), Bartolotti, Biaggi, Bohering Calciati,
Casolari, B.M.C. (British Museum Catalogue), Ciani, C.N.I. (Corpus
Nummorum Italicorum), Cra. (Crapanzano/Giulianini), Cra. Vol. II
(Crapanzano/Giulianini vol. II), Crawf. (Crawford), Coh. (Cohen), Crippa,
Dav. (Davenport), Di Giulio, D.O.C. (Dumbarton Oaks Collection),
Friedb. (Friedberg), Gad. (Gadoury), Galeotti, Gig. (Gigante), Gav. (Gavello
1996) Guadàn, Gulbenkian, Haeb. (Haeberlin) Heiss, Herzfelder,
Jenkins e Lewis, Krause, Mesio, Müller, Mont. (Montenegro), Mont. Ve.
(Montenegro Venezia), Muntoni, M.zu.A. (Miller zu Aicholds), Pag. (Pagani),
Pozzi, Rav. (Ravegnani Morosini), R.I.C. (Roman Imperial Coinage),
Rizzo, Seaby, Sears, Schl. (Schlumberger), Sim. Simonetti.
Philatelic auction: Catalogue numbers and values indicated at the
end of each description refer to the following catalogues: Bolaffi and
Sassone for Italy and Italian Area: Yvert Tellier and Catalogo Unificato
for Europe and Yvert Tellier and Stanley Gibbons for all other countries.
Other references are specifically quoted.
15 - Catalogue Terms
Jewellery auction:
Necklace Cartier. This term implies that, in view of the related signatures,
characteristics, hallmarks, the object is, in our opinion, certainly attributed
to the specific marker. Any other term used in the catalogue does not
warrant the attribution of the item.
Furniture and painting auction:
Guido Reni: in our opinion a work by the artist
Guido Reni (Attribuito-attributed): in our opinion probably a work by
the artist in whole or in part
Guido Reni (Bottega- studio): in our opinion a work executed in the
studio or workshop of the artist, but by an unknown artist
Guido Reni (Cerchia-circle of): in our opinion a work of an unknown
artist made during the life of the artist.
Guido Reni (Seguace-follower): in our opinion a work of an unknown
artist, not necessary his scholar, also executed much recently.
Guido Reni (Stile-style): in our opinion a work by a painter working in
the artist style, contemporary or nearly contemporary.
Guido Reni (Maniera o scuola-manner or school): in our opinion a
work executed in the artist style by an unknown artist influenced by him
also in a much later period.
Da Guido Reni (from Guido Reni): in our opinion a copy of a known
work of the artist.
Firmato/Datato/Iscritto (Signed/Dated/Inscribed): in our opinion
the work has been signed/dated/inscribed by the artist.
Reca firma/reca data/reca iscrizione (With signature/with date/
with) inscription): in our opinion the signature/date/inscription appears
to be by a hand other than that of the artist. Aste Bolaffi reserves
the right to express its own opinion with regard to the author, attribution,
origin, dating and condition of the lots in the catalogue. It is, in
any case, an opinion and is not to be considered an expert judgment
by any means.
Philatelic auction:
K mint
L hinged
I without gum
D cancelled
N piece
O front cover
A cover
Numismatic Auction:
Ac (Acmonital) Ae (Bronze) Ag (Silver) Al (Aluminum) An (Antimony)
Au (Gold) Ba (Bronzital) Cn (Nickel-copper) Cu (Copper) El (Electro) It
(Italma) M.b. (White metal) Ma (Silver plated metal) Md (Gilded metal)
Mi (Mixture) Ni (Nickel) Ott. (Brass) Pb (Lead) Pe (Pewter) Pl (Platinum)
Sn (Tin) Zn (Zinc)
Jewels Auction:
Jewels by Cartier. This term implies that, in view of the related signatures,
characteristics, hallmarks, the lot is, in our opinion, certainly attributed
to the specific marker. Any other term used in the catalogue does not
warrant the attribution of the item.
16 - Cultural Heritage codes
Any lots that may be subject to communication for the start of the procedure
for the declaration of their cultural interest pursuant to article
14 and thereafter of Legislative Decree no. 42/2004, the grantors and
buyers are required to comply with the relative provisions in force and,
in that case, Aste Bolaffi at its exclusive discretion, may proceed with a
temporary award of the lot.
17 - Resale royalties "Droit de Suite"
Legal obligations concerning the "Droit de Suite" (D.lgs. 118 of 13/02/06)
are accomplished by Aste Bolaffi
18 - Conditional sale
The lots are sold by the auction house with conditional sale in accordance
to art. 1523 of the Civil Code and therefore the buyer will not acquire title
to the lots until the full payment of the purchase price. The risk of deterioration
and of damage of the lots will pass to the buyer upon delivery
of the lots. The delivery of the lots will only occur upon the full payment
of the purchase price.
19 - Claims
Aste Bolaffi will consider only those claims regarding disputes over authenticity
of lots, the existence of serious flaws or concealed defects and/
or the non-conformity of the lot purchased to that described in the auction
catalogue and available for pre-auction viewing. In this connection,
defects that the buyer should have been aware of at the time of purchase
will not be considered defects of conformity as the buyer, having had the
opportunity to view the lot in the catalogue or during its showing prior to
sale, could not have failed to observe it making use of ordinary diligence.
Possible claims should be sent by registered letter within 15 (fifteen)
calendar days:
(i) from the date of the delivery of the lot following the auction, in the
case of purchases by persons present in the saleroom, including those
represented by agents, commission agents or intermediaries;
(ii) from the date of the receipt of the lot delivered by courier, in the case
of purchases by offers via correspondence or by telephone or online;
Claims are not accepted in any case:
(a) pertaining to flaws or defects expressly described in the catalogue
and easily discernable in photographs of the lot during the pre-auction
viewing;
(b) pertaining to multiple lots such as collections or accumulations of
any kind;
(c) pertaining to assorted lots of stamps or coins not described individually;
(d) pertaining to lots explicitly described in the auction catalogue as "to
be examined";
(e) pertaining to the state of conservation of lots, the evaluation of such
state being subjective and sales subject to the clause "as seen and found
acceptable";
(f) pertaining to flaws and defects attributable to the purchase's actions
subsequent to delivery of the lot.
(g) After 60 days have passed from the auction date.
Aste Bolaffi will respond in writing to the claim within 60 days of receipt.
Aste Bolaffi will honor claims only when the lot is judged by two experts
named by each party to be unauthentic, affected by serious flaws or
hidden defects and/or not conforming to the description in the auction
catalogue. In such cases the purchaser will be refunded only with the
amount corresponding to the purchase and to the shipping cost. Any
other refund or reimbursement is expressly excluded, except in case of
fraud or serious negligence.
BY SUBMITTING A PURCHASE ORDER OR BIDDING IN THE SALEROOM,
THE BUYER FULLY ACCEPTS ALL THE CONDITIONS OF SALE DETAILED
ABOVE AND SPECIAL NOTICES. ANY DISPUTS ARISING IN RELATION WITH
THESE GENERAL CONDITIONS AND SPECIAL NOTICES SHALL BE SUBMITTED
TO THE EXCLUSIVE JURISDICTION OF THE COURT OF TURIN.

Contract

By bidding at auction, whether present in person or through an agent, by written bid, telephone or other means, the Buyer agrees to be bound by these Conditions of Sale.

Payment

We accept wire transfer, MC/VISA.

Shipping

Until the full price has been paid and until delivery, lots are held in storage on the premises of Aste Bolaffi and insured with adequate coverage at the expense of Aste Bolaffi. On request, after payment has been made, lots can be shipped by insured parcel post at the risk and expense of the buyer. The customs and export duties are also for the account of the buyer. Any export requests will be made by the auction house on behalf of the buyer to the appropriate government offices. 
The buyer will be required to pay all costs on receipt of the invoice. Eight weeks are generally necessary to obtain an export permit.
 

Buyers Premium

6 - Purchase price
A commission in favor of Aste Bolaffi will be charged to the buyer, in
addition to the hammer price, as follows:
Numismatic and philatelic auctions: the Buyer shall pay the following
premium on the hammer price:
On first 250.000 22%
From 250.001 to 500.000 20%
An then 18% from 500.001.
All other auctions: the Buyer shall pay the following premium on the
hammer price:
On first 100.000 25%
From 100.001 to 250.000 22,5%
From 250.001 to 500.000 20%
An then 18% from 500.001.
7 - Lots with additional VAT
Lots with ± symbol are invoiced differently and have a different
buyer's premium on hammer price which vary depending on where the
item is shipped.
-Goods that remain within UE
1. Buyer's premium of 18%
2. VAT on hammer price at the following rates:
books 4%
stamps 10%
all other categories 22%
3. VAT payable at 22% on buyer's premium
-Goods that are shipped outside UE
Buyer's premium is the same as that one applied in case of VAT
margin.

Condition Reports

12 - Condition reports
The lots are sold "as is". Catalogue descriptions as well as any other indication
or illustration regarding the lots, are purely statements of opinion
and are not to be relied upon as statements of warranty. Potential buyers
are encouraged to inspect the lots in person or through a knowledgeable
representative during the pre-auction viewing in order to assess their authenticity,
preservation, provenance, quality and any defects. On request
and for guidance only, Aste Bolaffi provides condition reports that can add
more information to the catalogue descriptions.
Rare books and autographs auction: The buyer 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 its illustration
including: indexes of plates, blank pages, insertions, supplements
and addictions subsequent to the date of publications of the work.
No refund will be considered for books not described in the catalogue. Poster auction:
• Condition A Poster in very fine condition. Colors are fresh; no paper
loss. Some slight defect or tear but very marginal. A+: wonderful example
of a poster rarely seen in such fine condition. A-: some slight dirt,
fold, tear or other minor restoration.
• Condition B Poster in good condition. Some slight paper loss, but
not in the image or in any important area. If some restoration it is not
immediately evident. Lines and colors good, paper may have yellowed.
B+: poster in very good condition. B-: in fairly good condition.
• Condition C Poster in fair condition. The light-staining may be more
pronounced, restorations, folds or flaking are more readily visible, and
possibly some minor paper loss occurs. The poster is otherwise intact,
the image clear, and the colors still faithful to the artist's intent.
• Condition D Poster in bad condition. A large part of such poster may
be missing, including some important image area; colors