1- The lots are knocked down to the highest bidder.
Each bid should be 10% higher than the previous; nevertheless the Auctioneer can accept smaller bids.
2 - Fidesarte can accept bids received over the phone; those, if acceptable, will be communicated to the public during the auction.
If identical bids are received from two or more parties for the same lot, the first bid received by Fidesarte shall have the precedence.
In case of identical bids the person physically present at the Sale shall has the precedence on the person over the phone.
3 - Fidesarte reserves the right to withdrawn any lot.
During the auction, the Auctioneer is entitled at his/her sole discretion, to join or separate any two or more lots and change the order of the Sale.
4 - Fidesarte reserves the right to agree with Buyer special condition for payment, for example a deposit of 20% of the hammer price plus Buyer’s premium first and the remaining amount within 48 hours.
5 - In this case, if the Buyer fails to pay the whole amount due, He/She shall in any case pay Fidesarte a penalty of the 20% of the hammer price.
Fidesarte, reserving the right to further damages, shall be entitled to:
- Withhold as a penalty any amount already paid by the Buyer;
- Cancel the Sale;
6 - Fidesarte shall in any case be entitled to enforce the contractual obligation.
7 - In addition to the hammer price the Buyer shall pay for each lot, a premium equal to 21% of the hammer price.
Fidesarte shall be entitled to require immediate payment in Euro in full from the Buyer, including payment of the Buyer’s premium; in any case payment must be made within 7 days from the date of purchase. Packages charges are € 15,00 per lot.
Fidesarte reserves the right not to deliver any lot if total payment due has not been settled.
If Buyer fails to pay the amount due, please refer to Art. 5 – 6.
8 - The Buyer, after the payment of the hammer price and Buyer’s premium, should collect lots at his own risk and cost as per instructions in the catalogue.
After the period of 7 days Fidesarte shall not be held liable towards the Buyer with reference to the custody.
The cost of insurance and storage will be debit to the buyer according to the value of the lot.
9 - The Buyer shall arrange picking up of the lots at Fidesarte or Fidesarte may arrange to have property packed, insured and shipped at the express request, expense and risk of the Buyer.
10 - The valuation, attribution, definition and description of the lots in the catalogue are made by Experts and correspond to the critical opinion.
Nevertheless, statement in the catalogue or condition reports or any other indication or illustration regarding the lots, are purely statement of opinion and are not be relied upon as statements of warranty.
The lots are available for the examination by the general public during the exhibition before the Sale in order to allow a through evaluation of the authenticity, the state of preservation, the provenance and the type and quality of any lot.
Following the Sale, neither Fidesarte nor the Sellers shall be liable for any defects relative to the state of preservation nor do they warrant the correctness of statements concerning attribution, authenticity, provenance or quality in any item.
11 - Fidesarte acts as mere Agent of the Seller and is therefore obliged to respect the reserve price agreed with the Seller.
The Reserve is the confidential minimum auction price established between Fidesarte and Seller and below which a lot will not be sold.
12 - If within 8 days from the date of the Sale, the Buyer has notified Fidesarte together with a written opinion of an Expert, that He/She has ground for believing that the lot concerned is a forgery, Fidesarte will take in consideration or accept such objection.
If this will be proved, the Buyer will be reimbursed with the sole amount paid, excluding any other request.
After 8 days from the date of the Sale Fidesarte will no longer be responsible for the lots sold.
13 - Neither Fidesarte nor its personnel shall have the authority to make or give any representation or warranty concerning the description of the lots in the catalogues.
14 - Objects notified by the Italian Law (Art. E 1039) will be pointed out during the exhibition and Sale.
15 - Stamps and stickers on the lots are guaranteed to be existing only until the lots are collect by the Buyer.
16 - Lots in Temporary Importation from no-EU Countries are identified in the Catalogue; the EU resident Buyer shall pay the 20% VAT on hammer price plus buyer’s premium when transforming the temporary license into a permanent one.
17 - These conditions of Sale shall be accepted automatically by the sale participants and are available to any question requesting them.
Any dispute shall be submitted to the exclusive jurisdiction of the Venezia Court.
18 - Artist resale right ("Droit de Suite") According to Italian Law (Dlgs n.118 - 13/2/2006) the duties required will be executed by Fidesarte. Once Fidesarte receives the Artist's Resale Right by the Vendor, that amount will be rebated to the SIAE (Società Italiana Autori e Editori).
