Sell and Buy
CONDITIONS FOR THE ACCEPTANCE OF LOTS FOR SALE AT AUCTION.
1. SUBJECT MATTER OF THE AGREEMENT
The Seller entrusts, and the Auction House undertakes, the organisation of the sale of the Lot (Lots) at an auction held by the Auction House, on the conditions set out in this document and in the General Conditions of Sale published in the catalogue.
2. OWNERSHIP RIGHTS AND CONFIRMATION OF RIGHTS
The Seller warrants that:
- the Seller is the lawful owner of the Lot or has the lawful right to sell it;
- the Lot is free from any rights of third parties, pledges, seizures, disputes or other encumbrances;
- the Seller will provide, at the request of the Auction House, all documents confirming the ownership and the origin of the Lot (provenance).
3. ACCEPTANCE OF LOTS
The Auction House reserves the right to:
- refuse to accept a Lot without giving reasons;
- determine the final estimated value of the Lot (lower and upper limits);
- combine, divide or regroup Lots at its own discretion;
- set the starting price and the reserve price (minimum selling price) in agreement with the Seller.
4. LIABILITY FOR THE CONDITION OF THE LOT
The Seller bears full liability for the accuracy and reliability of all information provided about the Lot, including authorship, origin, state of preservation, authenticity, dimensions, technique and history. Should false or unreliable information be provided, the Seller undertakes to compensate the Auction House for all losses and expenses connected therewith.
5. RULES OF VALUATION AND PRICE SETTING
The Auction House carries out an expert examination of the Lot and determines the preliminary estimated value on the basis of professional judgement. The final starting price and the reserve price (if one is set) are agreed with the Seller. The reserve price may not exceed the lower limit of the preliminary estimate, unless otherwise agreed by the parties in writing.
6. COMMISSION
In the event of a successful sale of the Lot at auction, the Seller pays the Auction House a commission of 15% of the sale price ("hammer price") plus VAT, if applicable. The commission is withheld from the proceeds before the funds are transferred to the Seller.
7. PHOTOGRAPHY AND ADVERTISING
The Seller grants the Auction House the right to:
- photograph the Lot;
- use images of the Lot in the catalogue, on the website, on social media and in other advertising materials;
- publish information about the Lot in any media at the discretion of the Auction House — without additional consent of the Seller and without payment of remuneration.
8. INSURANCE
The Auction House may insure accepted Lots from the moment of their arrival at the warehouse of the Auction House until the moment of their handover to the buyer, except where the Seller declines insurance in writing. The cost of insurance is withheld separately.
9. STORAGE AND STORAGE CONDITIONS
The Auction House ensures proper storage conditions for the Lots. However, the Seller acknowledges that the Auction House is not liable for natural changes in the condition of the Lot occurring in the course of storage (drying of paint, cracking, change of colour, etc.), unless such changes are caused by gross negligence of the Auction House.
10. NON-SALE OF THE LOT
If the Lot is not sold at auction:
- the Seller may agree to a reduction of the reserve price and to the Lot being offered at auction again;
- the Seller may collect the Lot within 30 (thirty) days after the auction;
- In the event of failure to remove the Lot within the established period, the Auction House is entitled to charge a storage fee of 10 euros per day or to dispose of the Lot at its own discretion at the Seller's expense.
11. PAYMENT OF PROCEEDS
The Auction House transfers to the Seller the proceeds, less commission, insurance and advertising expenses and other agreed charges, within 30 (thirty) working days after receipt of full payment from the buyer.
12. LIABILITY OF THE PARTIES
- The Seller is liable for losses caused to the Auction House and/or to third parties as a result of unreliable information about the Lot or of infringement of the rights of third parties.
- The Auction House is liable for loss of or damage to the Lot only in the event of proven gross negligence.
- In the event of force majeure (natural disasters, wars, strikes, changes in legislation), the parties are released from liability for non-performance of obligations.
13. CONFIDENTIALITY
The Auction House is obliged not to disclose the Seller's name to third parties without the Seller's written consent, except where this is required by law.
14. GOVERNING LAW AND JURISDICTION
These conditions are governed by Italian law. All disputes are subject to the exclusive jurisdiction of the court of the place where the Auction House is located.
Post-sale steps
from payment to delivery of your artworks:
Receive an Invoice
The winner of the lot(s) will receive the invoice by email after the auction.
Proceed the payment
- by wire transfer on the Patria bank account.
- by cash below 5,000.00 euros if the payment is made in Florence .
Receive the confirmation
Patria will send the payment confirmation after the full payment is received.
Choose your shipping method / take an appointment to collect lots
The final step is to make arrangements for collection and shipping.
The Buyer shall be responsible for the shipment of the Lot and will execute any necessary procedures and/or formalities required by the law in force in Italy and in the country of final destination.
The packing is carried out entirely at the buyer's risk.
Please note, that the buyer is responsible for checking and fulfilling all conditions of the transportation of the acquired lots to the final destination, including but not limited to checking the import status of the lots, and regulations for importation at the destination.
For some painting and manuscripts, the export licence and customs formalities might be applied. We strongly recommend you to verify it with your transportation company.