1. SALE – Libreria Antiquaria Gonnelli S.r.l., with headquarters in Florence , in Via Fra’ Giovanni Angelico 49, p. IVA e C.F. 00520660481 (“Casa d’Aste”), trademark holder «Gonnelli Casa d’Aste», acts as exclusive agent for the sale of many goods (“Lots”), by private negotiation, on behalf of each Lot owner (“Seller”). The sale of the Lots must be considered intervened directly between the Seller and he, among the subjects, who has submitted offers for the purchase of one or more Lots (“Bidders ”), and has submitted the best offer for the purchase of each of the Lots and is declared the successful bidder (“Purchaser ”); it follows that the Auction House does not assume any responsibility towards the Bidders and / or the Buyer. 2. VARIATIONS AND RESERVE PRICE – The Auction House reserves the right to withdraw one or more Lots from the auction, at its absolute and unquestionable discretion and without any prior notice; in this case the Lots will however be considered not awarded by the Bidders. During the auction the auctioneer of the Auction House (“Auctioneer”), at his absolute and unquestionable discretion, can decide the price based on auction of the Lots, change the order of sale of the Lots, match and / or separate Lots, and formulate raises. The Auction House may not proceed with the awarding and / or withdrawing from the auction the Lots for which the best offer among those of the Bidders has not reached the minimum reserve price agreed with the Seller (“Reserve Price”); in this case the Lots will however be considered not awarded by the Bidders. 3. OFFERS AND PRICE – Each of the Bidders, with the formulation of their purchase offer of the Lots, in the case of acceptance and adjudication, undertakes to purchase the Lots and to pay the sum to the Auction House for each of the Lots awarded (“Total Price”) In total equal to the sum of the amount offered for the purchase of the Lots awarded, in addition to the rights referred to in § 5 below, in addition to any expenses referred to in § 6, lett. (b), in addition to the additional expenses specified therein and any legal charges. Written offers (even via internet) will only be valid if they are complete in their entirety and received by the Auction House at least 24 hours before the auction starts. The telephone participations will be valid only if confirmed in writing at least 24 hours before the start of the auction. Except in the case of disputes, in any case the sale of the Lots will be considered concluded only after the full payment of the Total Price in favor of the Auction House. 4. AJUDICATION – Lots will be awarded and sold to the best bidder at the most convenient price permitted by other offers on the same Lots and registered reserves; in the case of offers of the same amount, the one received first will prevail (except as provided in § 8). The Bidders declare to have examined and taken full view of the Lots and to unconditionally accept the possible award, even regardless of the description of the Lots in the auction catalogue. For the purposes of the awarding of the Lots, the minimum bids of the offers will be communicated by the Auctioneer. The Auctioneer awards the Lots and declares the Purchaser of each of the Lots at the conclusion of the relevant auction and on the basis of the purchase offers received. If during the course of the auction any dispute arises over the identification of the Buyer, the Auctioneer may, at its absolute and unquestionable discretion, return the Lots to the auction and proceed for a new award, or reconsider the bid from the previous offer. 5. AUCTION RIGHTS – The Winner, for each of the Lots awarded, is obliged to pay the Auction House the commission for the auction rights (“Rights”) to be determined (VAT included): a) in the percentage of 26% of the hammer price Lots awarded up to € 100,000.00; b) in the percentage of 22% on the amount exceeding € 100,000.00 of the hammer price. 6. PAYMENTS – The Total Price must be paid by the Purchaser to the Auction House within the essential deadline of n. 7 (seven) days after the auction (in case of delay the provisions of the following § 11) will be applied, in Euro and in a single solution, using the following methods: (a) in cash, up to the total amount of € 2,000.00, or the different amount required by law; (b) by credit cards (circuits accepted by the Auction House); (c) only expressly upon acceptance of the Auction House, by bank transfer to the account indicated by the same, or bank or non- bankable bank drafts, payable to Libreria Antiquaria Gonnelli S.r.l. (except for the good outcome of the credit): IBAN: IT 81 Y 03268 02800 052886559670 - SWIFT: SELBIT2B Sale conditions - UPDATE SEPTEMBER 2021 The Auction House will only be responsible for paying the Awardee, subject to any prior written notice by the Bidder to participate in the name and on behalf of third parties. Only as a result of the full payment of the Total Price the ownership and possession of the Lots will pass to the Purchaser, except as provided in § 14. 7. DATA – For the purposes of participation in the auction, the Bidders must first fill out and sign a participation form (the offer form), in which, in addition to the amount offered for the purchase of one or more Lots, the related personal data and bank references are also indicated. This data is processed in compliance with the current legislation on the protection of the privacy of personal data (so-called Privacy), as per the specific information released by the Auction House. The Auction House reserves the right to refuse offers from persons not previously registered and / or identified, or who have not submitted adequate bank references. In the event of an award, the data indicated in the offer form will be shown in the invoice header and cannot be changed. With the signing of the same offer form, moreover, the Bidders are obliged to accept fully and unconditionally the present conditions of sale. 8. COMPETITION – The Auction House may make offers on its own right and / or accept mandates for the purchase of certain lots by its customers; in this case, the Auctioneer will make bids and / or bids in the auction, based on the instructions received. In the case of offers of the same amount, the offer communicated by the Auctioneer on that of the Offeror in the meeting will prevail. 9. RESPONSIBILITY – The Auction House acts as agent with representing the seller, and is exempt from any responsibility regarding the quotation and description of the Lots in the catalogues, in the brochures and in other illustrative material; such description, whether other indications or illustrations, must be considered purely indicative and not binding, and cannot be exchanged of any kind in the Bidders and in the Purchaser. The Auction House does not issue any guarantee (direct or indirect) about the state, attribution, authenticity, origin of the Lots, whose sole guarantor and responsible remains exclusively the Seller, also towards the Bidders and the Buyer. As a result, the Bidders and the Buyer expressly exonerate the Auction House from any responsibility regarding the state, attribution, authenticity, origin of the Lots. Notwithstanding the foregoing, the descriptions in the catalogue can be integrated at the request of the customers through the delivery of written reports (socalled condition reports). All auctions are preceded by the exhibition of the Lots, in order to allow a careful and in-depth examination about the authenticity, the state of conservation, the origin, the type and the quality of the same, on which only the Bidders and the Purchaser assume every risk and responsibility, also as regards the effects of the art. 1488, c. 2, of the Italian Civil Code. After the awarding, neither the auction house nor the sellers will be held responsible for any defects in the Lots, concerning, inter alia, the state of conservation, incorrect attribution, authenticity, provenance, weight or lack quality of Lots. To this end, the Bidders and the Purchaser expressly waive the guarantee pursuant to the art. 1490 of the Italian Civil Code, releasing the Auction House from any related liability; for the effect, neither the auction house nor its staff can issue any valid guarantee in this regard. In the event of an auction or internet auction by the Bidders, the latter shall exempt the Auction House from any responsibility in case of any technical or other problems that may not allow their full participation in the auction (for example, in the event of communication interruptions, line problems, unavailability– for any reason – of the Bidders) and assume any risk regarding the possible failure to award one or more Lots. 10. ESTIMATES – The estimates relating to the base price of each Lotto, expressed in Euro, are indicated under the Lotto description in the auction catalogue and do not include the commissions and other charges owed by the Purchaser under these terms of sale. These estimates may be subject to revision at any time, therefore the Lots may be offered at a starting price different from the one indicated in the catalogue. Also the descriptions of the Lots in the catalogue may be subject to revisions, which will eventually be communicated during the auction. In any case, estimates and descriptions cannot generate any kind of credit in the Bidders and in the Purchaser. 11. DELAYS – In the event that the Purchaser fails to pay the Total Price within the essential deadline of n. 7 (seven) days from the award, the Auction House will be able to resolve the awarding and / or sale
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