Modern & Contemporary Art

Accepted forms of payment: American Express, Visa, MasterCard & Paypal Buyer's Premium: 22,96 + VAT of the Hammer Price of the lot, up to a maximum of Euro 2.999,99; 21,32 + VAT of the Hammer Price of the lot in excess of Euro 3.000,00 up to Euro 9.999,99; 19,68 + VAT of the Hammer Price of the lot in excess of Euro 10.000,00 up to Euro 59.999,99; 18,04 + VAT of the Hammer Price of the lot in excess of Euro 60.000,00 up to Euro 99.999,99; 16,40 + VAT of the Hammer Price of the lot in excess of Euro 100.000,00 up to Euro 299.999,99; 12,30 + VAT or any part of the Hammer Price in excess of Euro 299.999,99. Conditions of sale: 1. Definitions Purchaser : the natural or legal person who, in relation to the lot, makes the highest bid accepted by the auctioneer in the auction; Consumer Code : the Legislative Decree of 6 September 2005, n. 2016; Urbani Code : the Legislative Decree of 22 January 2004, n. 42 and its subsequent amendments or additions; Purchase commission : the compensation due to Finarte by the Buyer in relation to the purchase of the lot and calculated as a percentage of the Price, based on the percentage value indicated in the auction catalog or in these General Sales Conditions, in addition to any amount due to Finarte by the Purchaser as VAT or as an amount in lieu of VAT; General Terms and Conditions: the general terms of reference applied to the Seller; General Sales Conditions: these general sales conditions; Counterfeiting : according to the reasonable opinion of Finarte, the imitation of a lot offered for sale, not described as such in the auction catalog, created for deception about paternity, authenticity, origin, attribution, origin, source, date, age , period, which at the date of the sale had a lower value than it would have had if the lot had been corresponding to the description of the auction catalog. A lot that has been restored or subjected to modification of any nature (including repainting or over-filling) does not constitute a counterfeit; Finarte: Finarte Auctions Srl., With registered office in Milan, Via Paolo Sarpi n. 6, tax code, VAT number and registration number in the Milan Business Register 09479031008, REA number MI-2570656, share capital euro 100,000.00 iv; Total amount due : the Price, in addition to the Purchase Commission and the Expenses; Mandate : the mandate agreement with representation stipulated, from time to time, between Finarte and the Seller, to which the General Terms and Conditions will be applicable; Price : the price at which the lot is auctioned by the auctioneer to the Buyer, net of the Purchase Commission; Reserve: the minimum confidential price at which the Seller has agreed with Finarte to sell the Lot or, in the absence of an agreement between Finarte and the Seller, an amount equal to 75% of the Minimum Pre-sale Estimate; Site : www.finarte.it ; Expenses : in relation to the purchase of a lot, are all the costs due by the Buyer to Finarte and include (but are not limited to): taxes of any kind, packaging and shipping costs, recovery costs of sums due by the defaulting Purchaser, any costs of reproduction of the lot or of its appraisal and / or authentic, the resale right, which the Buyer undertakes to pay and which would be up to the Seller to pay based on the art. 152, paragraph 1, Law 22 April 1941, n. 633; Minimum pre-sale estimate: the minimum final estimate at which the lot is offered for sale, communicated or not to the Seller. Seller : the natural or legal person who grants Finarte, as agent with representation, the exclusive right to offer the lot for sale in auction. If a co-owned asset is offered for sale, the Seller will be considered each of the co-owners who will jointly assume all obligations deriving from the Mandate against Finarte; 2. Important information for Buyers 2.1 Buying at the Auction . Finarte acts in the name and on behalf of the Seller, as agent with representation of the same and therefore as a mere intermediary between Buyer and Seller. Therefore the sale of the lot must be considered to have taken place between the Buyer and the Seller. Potential Buyers are required to consult the Website to view the most up-to-date cataloging of the lots in the catalog. 2.2 Provenance . In some circumstances, Finarte can print the history of the ownership of a lot in the auction catalog when it believes that the information can contribute to its study or if it helps to distinguish the lot. However, the identity of the Seller or the previous owners may not be made public for a number of reasons, for example to respect the Seller's request for confidentiality or because the identity of the previous owner is not known due to age of the lot. 2.3 Price and Purchase Commission and VAT. A Purchase Fee will be added to the Lot Price which the Buyer is required to pay as part of the total Amount due. The Purchase Commission is established to the extent of: 22,96 + VAT of the Lot Price up to the amount of 2,999.99 euros; 21.32 + VAT for each part of the Price exceeding the amount of 2,999.99 euros up to the amount of 9,999.99 euros; 19.68 + VAT for each part of the Price exceeding the amount of 9,999.99 euros up to the amount of 59,999.99 euros; 18.04 + VAT for each part of the Price exceeding the amount of 59.999.99 euros up to the amount of 99.999.99 euros; 16.40 + VAT for each part of the Price exceeding the amount of 99.999.99 euros up to the amount of 299.999.99 euros; 12.30 + VAT for each part of the Price exceeding the amount of 299.999,99 euros. 2.4 VAT A Value Added Tax (VAT) can be applied to the Price and / or the Purchase Fee. Please refer to the VAT information contained in the "Symbols" section below. In order to harmonize the tax procedures between the countries of the European Union, with effect from 1 January 2001 new rules were introduced in Italy with the extension to the Auction Houses of the margin scheme. Article. 45 of law 342 of 21 November 2000 provides for the application of this regime to sales concluded in execution of commission contracts defined with: (a) private subjects; (b) taxable persons who subjected the operation to the margin scheme; (c) persons who have not been able to deduct the tax pursuant to art. 19, 19 -bis , and 19- bis 2 of the Presidential Decree. 633/72 (which sold the lot exempted pursuant to art. 10, 27- quinquies)); (d) parties who benefit from the exemption regime for small businesses in their state. By virtue of the special legislation, in the aforementioned cases any VAT tax, or a substitute value of VAT, if applicable, is applied by Finarte. No particular symbol will be used to identify the lots sold in the margin scheme. 2.5 Right of resale. In addition to the Price, the Purchase Commission and other Expenses, the Purchaser undertakes to pay Finarte, if due, the "resale right" exArticles. 144 et seq. of the Law of 22 April 1941, n. 633 and subsequent amendments and additions which would be due to the Seller to pay based on art. 152, paragraph 1, Law 22 April 1941, n. 633 and subsequent amendments and additions. The "resale right" will be paid by the Buyer in accordance with Article 7 and will be paid to (SIAE) by Finarte. The lots subject to the resale right are marked with the symbol (*) in the percentage indicated below for a total amount not exceeding 12,500.00 euros. The "resale right" is due only if the sale price is not less than € 3,000.00. It is thus determined: 4% for the part of the sale price between € 0 and € 50,000.00; 3% for the part of the sale price between € 50,000.01 and € 200,000.00; 1% for the part of the sale price between € 200,000.01 and € 350,000.00; 0.5% for the part of the sale price between € 350,000.01 and € 500,000.00; 0.25% for the part of the sale price higher than € 500,000.00. 2.6 Currencies During some auctions, a screen may be in operation indicating the updated exchange rates of the main foreign currencies, simultaneously with the bids made in the auction hall. The changes are to be considered only indicative and all offers in the dining room will be expressed in Euro. Finarte declines all responsibility for any errors and omissions that appear on the screen. The payment of the purchased lots must be in Euro. The equivalent amount can be made in foreign currency provided that it is based on the exchange rate on the day the payment is made. 2.7 Safety To safeguard the safety of potential Buyers and Buyers during their stay in our exhibition spaces, Finarte exhibits all the works in such a way as not to create any dangers. However, in the event that a potential Buyer handles exposed lots, this is at his or her own risk. Some large and heavy batches can be dangerous if handled incorrectly. If you wish to inspect a lot carefully, please request assistance from Finarte staff. Some lots on display could be marked with the words “please do not touch"Or with other similar wording. If you intend to examine these lots, please request assistance from the Finarte staff. In any case, except for willful misconduct or gross negligence, Finarte will in no way be liable for any damage suffered by the potential Purchaser, the Purchaser or its scholar or its independent expert during the inspection of the lot. 3. Before the auction 3.1 Estimates published in the catalog. The estimates published in the catalog are only indicative for potential buyers and are subject to revision. The price may be higher or lower than the indicated ratings. It is understood that estimates indicated in the auction catalog do not include the Purchase Commission and VAT. Potential Buyers are required to consult the Website to view the most up-to-date cataloging of the lots in the catalog. 3.2 Symbols The auction catalog may contain the following symbols: 0 Minimum guaranteed amount If a lot is marked by this symbol, the Seller has been guaranteed a minimum amount within one or more auctions. Ρ Lots owned by Finarte. In the event that the lots are marked with this symbol, the property belongs in whole or in part to Finarte. PI Interested Party. Indicates the case in which offers can be made on the lot even by subjects having a direct or indirect interest in the same, such as for example the beneficiary or the executor who sold the lot or the co-owner of the lot or a subject who has provided a guarantee for the lot. SR Without Reserve. The lots shown in the catalog that are not marked with this symbol (SR), are subject to sale with reserve. Generally the Reserve corresponds to a percentage of the minimum pre-sale Estimate and does not exceed this value. If a lot is sold without a Reserve, it will be marked with this symbol. * Right of Follow. For lots marked with this symbol, the Buyer undertakes to pay the "resale right", which would be up to the seller to pay according to the art. 152, paragraph 1, Law 22 April 1941, n. 633 and subsequent amendments and additions, to the extent determined in the section "Resale right" above. I Lot from a company. For lots marked with this symbol, the Price is subject to VAT. TI Lot in temporary import regime. Lot under temporary importation regime pursuant to art. 72 of the Urbani Code or for which temporary importation has been requested. ID Lot in temporary customs import. The lots marked with this symbol are subject to VAT (currently equal to a percentage of 10%) on the Price and the resale right, where applicable for residents in Italy. Any costs connected with the closure of temporary customs importation are the responsibility of the Buyer. IA Lot in temporary artistic importation. 4. The auction Auction procedure The auction is governed by the General Sales Conditions and by the General Terms and Conditions of Sale. The General Conditions of Sale may be modified by means of a notice posted in the auction hall or by an announcement made by the auctioneer before the auction begins. In the event that Finarte allows participation in the auction, even online, these changes are also brought to the attention of the Site before the auction begins. Bids can be made personally through a pallet during the auction, by means of a written offer before the auction, by telephone or via the internet (in the latter case only if possible in relation to the specific auction). In the event that the Seller is a professional and the Buyer is a consumer pursuant to art. 3 of the Consumer Code, sales concluded through written, telephone or online offers are distance contracts pursuant to and for the purposes of articles 45 et seq. of the Consumer Code. The speed of the auction can vary, between fifty (50) and one hundred and twenty (120) lots per hour. The increase in offers is generally ten percent (10%) compared to the previous one. At its complete discretion, Finarte has the right to refuse anyone to participate in the auctions. In respect of each potential Buyer, Finarte reserves the right to subordinate participation in the auction to the display of a letter of bank reference or to the deposit of a sum to guarantee the exact fulfillment of the obligations provided by these General Terms and Conditions of Sale which will be returned once the auction has ended. Anyone making an offer at an auction will be considered a party directly interested in the purchase, unless a written agreement between the auction participant and Finarte on the basis of which the participant declares to act in the name and on behalf of a third party that is by Finarte accepted. In the event that a person who has been granted the possibility of making an offer relating to a lot has a direct or indirect interest on the same, such as for example the beneficiary or the executor who sold the lot, or the co-owner of the lot or another party that has provided a guarantee for the lot, Finarte will notify it in the catalog. The auctioneer conducts the auction starting from the offer that he considers adequate, depending on the value of the lot and the competing offers. The auctioneer can open the offers on each lot by making an offer in the interests of the Seller. The auctioneer can also bid in the interest of the Seller, up to the amount of the Reserve, by making consecutive offers or in response to other offers. The auctioneer's hammer blow determines the acceptance of the highest bid, the price and, consequently, the conclusion of the sales contract between the seller and the buyer. The auctioneer can, at his absolute discretion and at any time of the auction: pick up a lot from the auction; reformulate a sales offer for a lot, if there are reasons to believe that there is an error or a dispute; and / or adopt any measure that it deems appropriate in the circumstances, such as matching or separating lots or changing the sales order provided that the lot is not offered on auction an earlier day than that indicated in the auction catalog. During some auctions a video screen may be operating. Finarte declines all responsibility in relation to the correspondence of the image on the screen to the original, and for errors in the functioning of the video screen. Finarte declares that the lot can be the subject of a declaration of cultural interest by the Ministry of Cultural Heritage and Activities and Tourism pursuant to art. 13 of the Urbani Code. In this case or in the event that the declaration of cultural interest pursuant to art. 14 of the Urbani Code, Finarte will communicate it before the sale. In the event that the lot has been the subject of a declaration of cultural interest, the Seller will report the sale to the competent Ministry ex59 Urbani Code. The sale will be suspensively conditioned by the failure of the competent Ministry to exercise the right of first refusal within sixty (60) days from the date of receipt of the complaint, or within the term greater than one hundred and eighty (180) days pursuant to art. 61, paragraph 2, of the Urbani Code. Pending the deadline for the exercise of the pre-emption the lot cannot be delivered to the Purchaser on the basis of what established by the art. 61 of the Urbani Code. The Reserve may never exceed the Minimum pre-sale Estimate announced or published by Finarte, except in the event that the Reserve is expressed in a currency other than the euro and there are significant fluctuations in the exchange rate between the date on which it was agreed the Reserve and the auction date. In this case, unless otherwise agreed between Finarte and the Seller, the Reserve will be modified in an amount equal to the equivalent in euro based on the official exchange rate of the day immediately preceding the auction. Offers "at best", "subject to viewing" or which include lots as an alternative to the one indicated are not accepted. Offers in the dining room To participate in the auction, all potential Buyers will need to have - before the auction begins - a numbered pallet to express their offers. The numbered pallet will be delivered to the potential Buyer by the Finarte staff at the registration desk following the exhibition of an identity document, the compilation and the signing of the appropriate registration form and attribution of the numbered pallet. By completing and signing the registration form and attribution of the numbered pallet, each potential Buyer accepts the General Conditions of Sale included in the catalog. It is possible to register for the auction even during the days of the exhibition preceding the auction. It is possible to participate in the auction in the name and on behalf of another natural or legal person. In this case, at the time of the auction registration, a suitable written proxy issued by the represented person with an attached identity document of the represented person must be shown. The auction participant will be jointly and severally liable with the third party in respect of Finarte in relation to all the obligations arising from these General Terms and Conditions of Sale. In the event that the person represented is a legal person, the power of attorney must be signed by the legal representative or by an attorney with a power of signature whose identity card must be attached to the power of attorney. Finarte reserves the right not to have the representative take part in the auction if, in its sole discretion Numbered palettes must be used to indicate offers to the auctioneer during the auction. In case of awarding a lot, please make sure that the pallet can be seen by the auctioneer and that it is the number indicated therein to have been announced. In the event of doubt regarding the Price or the Buyer, please immediately call the attention of the auctioneer. All sold lots will be invoiced to the name and address issued at the time of assigning the numbered pallet and cannot be transferred to other names and addresses. Any loss of the pallet must be immediately communicated to the auctioneer's assistant who will provide the potential Buyer with a new pallet At the end of the auction the pallet must be returned to the registration desk. Written offers By filling in and sending the appropriate offer form (together with the documentation requested in it) attached to the auction catalog and uploaded on the Website, written offers can be formulated. Finarte will execute the offers on behalf of the potential Buyer. The service is free and confidential. The offer form must be sent to Finarte at least twenty-four (24) hours before the auction. Written offers will be accepted by Finarte only if they are sufficiently clear and complete, with particular reference to the lot and the price at which the lot is intended to be awarded. In the event that Finarte receives more than one written offer of the same amount for a specific lot, the latter will be awarded to the subject whose offer was received first by Finarte. Finarte in formulating the offers on behalf of the potential Buyer will take into account the Reserve and the other offers, in order to obtain the award of the lot at the most convenient price allowed on the same lots and from the reserves registered by us. The amounts indicated in the offer form must be considered as maximum amounts. Finarte does not accept unlimited bids or no-bids. Each offer form must contain offers for a single auction. Alternative offers can be accepted if the word "OR" is specified between the number of lots. After the auction, those who have left written bids must promptly check with Finarte if their bid is successful. In the case of awarding a lot, in the event that the Seller is a professional and the Buyer is a consumer pursuant to art. 3 of the Consumer Code, the Purchaser will not have - pursuant to article 59, paragraph 1, letter m) of the Consumer Code - the right of withdrawal provided for distance contracts as the sales contract is concluded in occasion of a public auction according to the definition provided by art. 45, paragraph 1, letter o) of the Consumer Code. Telephone offers By completing and sending the appropriate offer form (together with the documentation requested in it) attached to the auction catalog and uploaded on the Website, it is possible to formulate telephone offers. The offer form must be sent to Finarte at least twenty-four (24) hours before the auction. Once received, the Finarte form will contact the potential Buyer by telephone at the telephone number indicated on the form. In the event that Finarte is unable, for any reason, to contact the potential Buyer by telephone, it may carry out on its behalf offers up to an amount equal to the maximum bid indicated in the form ("Covering Bid"). In this case, Finarte, in formulating the offers on behalf of the potential Buyer, will take into account the Reserve and the other offers, in order to obtain the award of the lot at the most convenient price allowed by on the same lots and by the reserves registered by us. Finarte reserves the right to register telephone offers and does not assume any responsibility, in any way, towards the participants of the auction for problems or inconveniences related to the telephone line (for example, for interruption or suspension of the telephone line). Finarte does not accept telephone offers referring to lots whose minimum pre-sale estimate indicated in the catalog is less than Euro 500.00. In any case, Finarte does not accept telephone offers for an amount lower than the Minimum pre-sale estimate. The Finarte staff is available to make phone calls in English and French. In the case of awarding a lot, in the event that the Seller is a professional and the Buyer is a consumer pursuant to art. 3 of the Consumer Code, the Buyer will not have - pursuant to Article 59, paragraph 1, letter m) of the Consumer Code - the right of withdrawal provided for distance contracts as the sales contract is concluded in occasion of a public auction according to the definition provided by art. 45, paragraph 1, letter o) of the Consumer Code. Offers via internet At least [seventy-two (72) hours] before the auction date, Finarte will communicate on the Website and / or on the auction catalog, the auction on which it is possible to formulate offers also via internet. In case of participation in the internet auction the potential Buyer will have the opportunity to see and hear the auctioneer as well as make offers in real time. Participation in the internet auction is subject to prior registration on the Site and subsequent registration at least twenty-four (24) hours before the start of the auction. Once the registration on the Website is completed, each potential Buyer receives a password by email (which undertakes to guard with care and diligence and not to distribute or communicate to third parties) necessary to access the Site as a registered user and to participate in the auction . Each registered user is responsible for any activity performed through the Site through his / her login credentials and undertakes to immediately notify Finarte of any unlawful use of his / her password to access the Site or loss of the password. In this case, Finarte will notify the registered user of a new password to access the Site and the previous password can no longer be used to access the Site or to participate in auctions. Finarte does not guarantee that the Site is always operational and that there are no interruptions during participation in the auction or that the Site and / or its server are free from viruses or any other harmful or potentially harmful material. Therefore, except in cases of willful misconduct or gross negligence, Finarte is not in any way responsible for any technical problems that occur during the auction (such as, by way of example but not limited to, slowing down in internet browsing or the malfunctioning of the server that manages the participation in the auction via the internet). Finarte is in no way responsible for any damage or inconvenience immediately deriving from the incorrect use of the Site pursuant to these General Terms and Conditions of Sale. Each potential Buyer undertakes not to use any software or tool of any kind to influence or interfere (even if only potentially) with the progress of the auction and undertakes to use the Website and any application correctly and in good faith. If Finarte has decided to allow participation in the auction also online, these General Terms and Conditions of Sale govern, also the offer for sale and the awarding of the lots through the sites / internet platforms through which it is possible to formulate offers. The online auction to which these General Terms and Conditions apply is a public auction (defined by Article 45, paragraph 1, letter o) of the Consumer Code as the selling method in which goods or services are offered from the professional to the consumers who participate or who are given the opportunity to participate in the auction in person, through a transparent competitive bidding procedure managed by an auction house and in which the contractor is bound to purchase the goods or services) , and it is the same public auction that you can participate in, The lots purchased through the internet are offered and sold by Finarte which acts as agent with representation of the Seller. The offer and sale by Finarte of the lots offered for sale on the Internet constitute a distance contract governed by Chapter I, Title III (articles 45 et seq.) Of the Consumer Code and by Legislative Decree 9 April 2003, n . 70, containing the regulation of electronic commerce. In the case of awarding a lot, in the event that the Seller is a professional and the Buyer is a consumer pursuant to art. 3 of the Consumer Code, the Purchaser will not have - pursuant to article 59, paragraph 1, letter m) of the Consumer Code - the right of withdrawal provided for distance contracts as the sales contract is concluded in occasion of a public auction according to the definition provided by art. 45, paragraph 1, letter o) of the Consumer Code. Offers from employees Finarte employees can make bids in a Finarte auction only if the employee is not aware of the Reserve and if he makes the offer in full compliance with the internal regulations that govern the bids in the auction of employees. 5. Obligations of Finarte towards the Buyer Finarte acts in the name and on behalf of the Seller, as agent with representation of the Seller, except in cases where it is the owner of all or part of a lot. Upon request of the Buyer, Finarte may provide, at its discretion and on payment, a written report ( condition report ) on the conditions of the lot. In the event that, after the sale at auction, a lot is found to be a Counterfeit, Finarte will reimburse the Buyer requesting termination of the sales contract, after returning the lot to Finarte, the Total Amount due on condition that, not later than five (5) years from the date of sale, the Buyer: communicate to Finarte in writing, within three (3) months from the date on which you received news that led you to believe that the lot is a Counterfeit, the lot number, the date of the auction to which the lot was purchased and the reasons for which the Buyer believes that the lot is a Counterfeit ; is able to return the lot to Finarte, free of claims or claims by third parties arising after the date of sale and the lot is in the same condition as it was at the date of sale ; provides Finarte with the reports of two independent scholars or experts of recognized competence, explaining the reasons why the lot is considered a Counterfeit. Finarte reserves the right to proceed with the resolution of the sale even in the absence of one or more of the conditions requested above, in whole or in part. Finarte will not be bound by the opinions provided by the Buyer and reserves the right to request the additional opinion of other experts at its own expense. In the event that Finarte decides to terminate the sale, Finarte will be entitled to reimburse the Buyer, to a reasonable extent, the costs incurred by it in obtaining the opinions of the two independent experts accepted by both Finarte and the Buyer. The Buyer will not be entitled to terminate the sales contract and Finarte will not refund if: the description in the catalog was in line with the generally accepted opinion of scholars and experts at the date of sale or indicated as controversial the authenticity or attribution of the lot; o on the date of publication of the catalog the counterfeit of the lot could only be ascertained by carrying out analyzes generally considered inadequate for the purpose or difficult to implement, the cost of which was unreasonable or which could reasonably have damaged or otherwise lead to a decrease in the value of the lot. 6. Obligations of the Buyer and responsibility of Finarte towards the Acquirentie The Buyer undertakes to examine the lot and the relevant documentation prior to purchase to verify compliance with the catalog descriptions and, if necessary, to request the opinion of an independent scholar or expert, to ascertain paternity, authenticity, provenance, attribution, origin, date, age, period, cultural origin or source, condition and completeness, quality, including price or value. Any written or verbal representation provided by Finarte, including those contained in the catalog, in reports, comments or assessments concerning any character of a lot, such as authorship, authenticity, origin, attribution, origin, date, age, period, cultural origin or source, condition and completeness, quality, including the price or value, exclusively reflect opinions and can be reviewed by Finarte and, possibly, modified before the lot is offered for sale. Except for malice and gross negligence, Finarte and its employees, collaborators, administrators or consultants are not responsible for the errors or omissions contained in these representations. [ The lots are sold "as seen and liked", with the express exclusion of any guarantee for hidden defects and with any gap, defect, imperfection and error of description. All lots, including those that have - in whole or in part - an electrical or mechanical nature are to be considered solely on the basis of their artistic, decorative and / or collecting value and are not to be considered functional. The operation and safety of the lots that have, in whole or in part, an electrical or mechanical nature are not verified before the sale and are purchased by the Buyer at his own risk. Descriptions of catalogs and condition reportsreferred to in Article 5.3 above, are merely indicative and are carried out for the sole purpose of identifying the lot. The lack of explicit references in the catalogs and in the condition reports regarding the conditions of the lot does not imply that the lot is free of imperfections. Except in the case of willful misconduct or gross negligence, Finarte or its employees, collaborators, administrators or consultants will not be responsible for acts or omissions relating to the preparation or conduct of the auction or for any matter relating to the preparatory phase of the sale of the lots. Except in the case of willful misconduct or gross negligence, the possible liability of Finarte or its employees, collaborators, administrators or consultants towards the Buyer in relation to the purchase of a lot by the latter is limited to the Price and to the Purchase commission paid by the Buyer to Finarte. The descriptions of cars and motorcycles, also in relation to their history, their age, the model, the changes of ownership, the state of conservation and any restoration processes, technical features, internal and external components, including the number of the motor ( matching number or not) and of the chassis of the car - present in the catalog and / or condition reportare provided for guidance to the potential Purchaser by Finarte in good faith on the basis of the indications and information received from the Seller, but must not be considered exhaustive and / or verified. All cars and motor vehicles - together with the relevant documents that accompany them - must therefore be examined in an appropriate manner by the potential buyer in order to fully ascertain their status. The absence of an indication of a defect, a restoration or the presence of a non-original part does not imply that this defect, restoration or presence of a non-original part cannot exist Descriptions of watches and precious stones, also in relation to the state of preservation and possible restorations, present in the catalog and / or in the condition reportare provided for guidance to the potential Purchaser by Finarte in good faith on the basis of the indications and information received from the Seller, but must not be considered exhaustive and / or verified. All watches and precious stones must therefore be adequately examined by the potential buyer in order to be able to fully ascertain their status. The absence of an indication of a defect, a restoration or the presence of a non-original part does not imply that this defect, restoration or presence of a non-original part cannot exist. In the case of wristwatches declared by the manufacturer as waterproof, their examination may have required their opening: Finarte therefore suggests that the Buyer, before using them in the presence of water, take them to an authorized center to check the estate. The organic material straps that may be present are associated with the cash desks in the presale phase for purely presentation purposes: potential buyers are aware that the importation into foreign countries of materials coming from species in danger of extinction, such as, by way of example , tortoise and ivory, is subject to the international CITES legislation. The potential Purchaser will therefore have to inform itself adequately at a preliminary stage regarding these restrictions, if it intends to participate in the auction for a lot that contains, even only in part, materials of this type. Potential Buyers are aware that the importation into foreign countries of materials coming from endangered species, such as, by way of example, turtle and ivory, is subject to the international CITES legislation. The potential Purchaser will therefore have to inform itself adequately at a preliminary stage regarding these restrictions, if it intends to participate in the auction for a lot that contains, even only in part, materials of this type. Potential Buyers are aware that the importation into foreign countries of materials coming from endangered species, such as, by way of example, turtle and ivory, is subject to the international CITES legislation. The potential Purchaser will therefore have to inform itself adequately at a preliminary stage regarding these restrictions, if it intends to participate in the auction for a lot that contains, even only in part, materials of this type. 7. Payment In case of award, the Buyer is required to pay Finarte the total amount due immediately - and in any case no later than five (5) days - from the end of the auction. In the event that the lot has been the subject of the declaration pursuant to art. 4.1.14 above, the Purchaser undertakes to pay the total amount due at the end of the term for the exercise of the pre-emption by the competent Ministry. The invoicing of the Price to the Buyer will be the exclusive competence of the Seller. The payment of the Purchase Commission and any Expenses can be made by cash, cashier's check, bank check, bank transfer, Bancomat or Credit Card (American Express, Visa or Mastercard) or Paypal Finarte can accept single or multiple payments in cash only for amounts below € 2,999.99. The bank details for transfers are as follows: Finarte Auctions Srl bank: UBI - Unione Banche Italiane IBAN IT number 88 B 03111 01621 000000002377 SWIFT number BLOPIT22 In the case of bank transfer, the name and surname of the Buyer and the invoice number must be indicated in the reason for payment. Payment by debit card, American Express, Visa or Mastercard can only be arranged by the cardholder or, in the case of payment by PayPal, by the holder of the relevant account. Finarte reserves the right to check the origin of payments received and not to accept payments received from people other than the Buyer. In limited circumstances and in any case subject to the Seller's consent, Finarte may grant to Buyers that it deems reliable the faculty to pay the lots at extended intervals. The deferred payment methods must be defined before the sale. Before establishing whether or not to grant deferred payments, Finarte may request references on the Buyer's reliability and documentation on its identity and residence. Also pursuant to and for the purposes of the provisions of art. 1523 cc, the transfer of ownership of the lot from the Seller to the Buyer will take place only at the time of payment by the Buyer of the total amount due. In the event of non-payment or late payment by the Purchaser - within the term referred to in art. 7.1. that precedes - in whole or in part, of the total Amount due, Finarte has the right, at its option, to request compliance or to terminate the sales contract in accordance with art. 1456 cc, except in any case the right to compensation for damages, as well as the right to have the lot sold on behalf and at the expense of the Buyer, pursuant to art. 1515 cc In case of delay in the payment of the total amount due for a period exceeding five (5) working days from the auction date, Finarte may deposit the lot with a third party depository at the risk and expense of the Buyer. As well as charging the Buyer and withholding at his own credit default interest equal to the rate set by the 3-month Euribor law plus a five percent spread (5%), except for Finarte's right to compensation for greater damages. In case of non-payment or late payment by the Purchaser, Finarte may refuse any offer made by the Buyer or its representative during subsequent auctions or ask the Buyer to deposit a sum of money, as a guarantee, before to accept offers. Finarte has the right to compensate any sum due, for any reason, to the Buyer with any sum owed by the latter, for any reason to Finarte. Check-in hours: Mon-Fri 10.00am-1.00pm; 2:00 p.m. to 17:30. 8. Delivery and collection of the lot The delivery of the lot will take place at the headquarters of Finarte no later than five (5) working days from the day of the award. The lot will be delivered only after payment of the total amount due to the Buyer or to a third party with a written proxy issued by the latter. Upon delivery of the lot, Finarte will request the Buyer or the third party in charge of a document certifying his identity. Before arranging collection of the lot, please check with Finarte where the lot is stored. In the event of the death, interdiction, disabling, termination / termination, for any reason, of the Purchaser, duly communicated to Finarte, the latter will consent to return the lot subject to the agreement of all the assignees of the Buyer or according to the established procedures by the judicial authority. If the Buyer does not collect the lot within five (5) working days from the day of the sale, Finarte will be entitled to: charge the Purchaser an amount equal to one percent (1%) of the Price for each month of delay in collection of the lot, starting from the fifth business day following the sale; or to deposit the lot with a third party custodian at the Buyer's risk and expense. 9. Transfer of risk A purchased lot is entirely at the risk of the Purchaser starting from the date earlier than those in which the Buyer: takes delivery of the purchased lot ; o pay the total amount due for the lot ; or from the date on which the payment deadline of five (5) working days from the day of the award. The Buyer will be compensated for any loss or damage of the lot that occurs after the sale but before the transfer of the risk, but the compensation cannot exceed, except in the case of willful misconduct or gross negligence, the Price in addition to the Purchase Commission received from Finarte. Except in the case of willful misconduct or gross negligence, under no circumstances will Finarte take responsibility for the loss or damage caused to the frames or glass that contain or cover prints, paintings or other works unless the frame or glass does not constitute the lot sold at auction. Under no circumstances will Finarte be liable for loss or damage that occurs following any intervention (including restoration work, work on the frames and cleaning operations) by independent experts appointed by Finarte with the Seller's consent for the loss or the damage caused or deriving, directly or indirectly, from: changes in humidity or temperature ; normal wear or gradual deterioration deriving from interventions on the lot and / or from hidden faults or defects (including wood borers) ; processing errors ; war, nuclear fission, radioactive contamination, chemical, biochemical or electromagnetic weapon ; acts of terrorism; and other force majeure events. 10. Shipping Upon written request by the Buyer, Finarte may arrange the packaging and shipment of the lot provided that the Buyer: has fully paid the total amount due; provides Finarte with any certificates of free circulation or export licenses or any necessary certification and / or certification for this purpose. Balance different agreement with the Buyer: the costs of packing and shipping are at the Buyer 's expense and can be requested, at least twenty-four (24) hours before the auction starts, for cost estimates if he intends to entrust Finarte with the packing and shipment of the lot; the insurance coverage aimed at covering the risk of losses and / or damages (even partial) that the lot may suffer during transport must be agreed between the Buyer and the carrier without any liability for Finarte; the cost of the insurance coverage will be at the Buyer's expense. The packaging and shipping of the lot to the Purchaser are entirely at risk and the Buyer's responsibility and Finarte assumes no responsibility for actions or omissions of the packaging personnel or transporters. 11. Export from the territory of the Italian republic The export of cultural goods outside the territory of the Italian Republic is subject to the rules established by the Urbani Code. The export of cultural goods outside the territory of the European Union is also subject to the regulation provided for by EC Regulation n. 116/2009 of December 18, 2008 and by the EU Commission Execution Regulation 1081/2012. The export of a lot from the territory of the Italian Republic may be subject to the issue of a certificate of free circulation or an export license. The release of the certificate of free circulation or and / or the export license is the responsibility of the Buyer. The non-release or delay in the release of the certificate of free circulation and / or the export license does not constitute a cause for termination or cancellation of the sale, nor does it justify the delayed payment by the Buyer of the total amount due.