CONDITIONS OF SALE
- MANDATE: LIVEBID.IT is a brand owned by ITINERIS (Itineris S.r.l. via Vivaio 24 Milano Italy, p.iva 09875360969). All lots are offered in Italy for sale by Itineris which acts as exclusive agent in its own name and on behalf of each consignor pursuant to art. 1704 of the Italian Cod. Civ.. The effects of the sale affect the consignor, and Itineris does not hold any liability towards the successful bidder or third parties in general other than that deriving from the agent role.
- MODIFICATIONS: prospective buyers are invited to consult the most updated cataloguing of the auction’s lots on livebid.it website.
- ESTIMATES: all catalogue’s estimates are expressed in euros, denote a mere indication, can be changed at any time and are unsuitable for generating any type of forecast on the hammer price.
- LOTS’ DESCRIPTION – CONDITION REPORT: any representation, written, oral or digital, including those published in any catalogue, report, booklet guide or estimate, also relating to the characteristics or quality of the lot, including the price or value, are the result of subjective evaluations and reflect opinions, and may be modified before offering the lot for sale. Itineris cannot be liable for errors and omissions relating to these descriptions, nor in the event of counterfeiting, as no implicit or explicit guarantee is given regarding the lots in auction. Furthermore, the illustrations of all items in the catalogues or other illustrative material are solely for the purpose of identifying the lot and cannot be considered precise representations of the state of conservation of the auctioned good. The estimated weights of the stones, lacking a gemological certificate, are to be considered purely indicative. The watches are described as they appeared at the time of cataloguing. They can present wear and defects in their mechanical or electronic parts due to use and wear or even damage and consequent repairs and restoration and replacements of various types of parts, including non-original ones, mostly straps and buckles. Thus Itineris cannot guarantee wheter the watch is working or waterproof, or if any part has been replaced or restored. It remains the responsibility of the buyer to verify personally or by a trusted technician the state of conservation and authenticity of the lot of interest. For quartz watches the operating status is indicated only when the battery is present and functioning. Buyers are informed that, in the absence of specific indications in the catalogue, boxes, certificates and all accessories are not provided.
- EXHIBITION: each lot can be previously examined by appointment only. Itineris employees will be available for any clarification; the viewing by appointment is intended to examine the authenticity, attribution, state of conservation, provenance, type and quality of the lots and to clarify any errors or inaccuracies in which the catalogue could have occurred. The party interested in the purchase of a lot therefore undertakes, before participating in the auction, to thoroughly examine the good, possibly with the advice of an expert or a trusted restorer, to ascertain all its characteristics. The lots in auction are sold in the same condition in which they were exposed with possible defects and imperfections, and the lack of explicit references in the catalogue does not imply that they are exempt. After the award, no disputes are admitted in this regard; neither Itineris, nor its directors and employees or consultants will be held accountable for any error or omission.
- LIABILITY: except in the case of fraud, Itineris, its directors and its employees and consultants will not be held liable for any act or omission relating to the production or running of the auction or for any matter relating to the purchase of lots or failure to purchase them. In any other case, Itineris eventual liability towards the successful bidder in relation to the purchase of a lot by the latter is limited to the hammer price and the purchase commission owed or payed to Itineris.
- PARTICIPATION: it is possible to participate in the auction via the internet, or even by telephone or by written offers when provided by the type of auction. Itineris is not liable for inadvertently unexecuted offers, for errors relating to the execution of the offers, for illegible, late, or incorrect offers, and for any inconvenience or disservice concerning telephone lines or the internet line.
- INTERNET BIDDING: to place bids via the internet, please register before the auction start and accept the Conditions of sale on http://www.livebid.it website or on the websites of authorized providers.
- TELEPHONE BIDDING: to be called during an auction to bid on a lot, please register to the auction in advance, by sending the appropriate FORM on http://www.livebid.it site for approval. Calls could be recorded.
10. WRITTEN OFFERS all written offers received by signing and sending the appropriate FORM on http://www.livebid.it site by email or fax will be made on behalf of the bidder at the lowest possible price, given the reserve price of the lots and the other offers. Offer forms with unlimited or no amount will not be considered valid. Itineris is not liable for incorrectly filled in forms. Before sending the form please verify the correspondence between what is intended to purchase and the description, in particular the catalogue number of the lot. In the event of a discrepancy between the lot number and description, Itineris will make the offer on behalf of the potential buyer with exclusive reference to the lot number.
11. AWARD: all lots are awarded to the best bidder, natural or legal person, ("buyer") and for cash.
12. INVOICING: each awarded lot will be invoiced according to the personal details and address communicated in the auction registration forms.
13. BID INCREMENT: the auctioneer starts auctioning each lot from the offer he considers appropriate, with increases generally of 10% (ten percent) unless otherwise chosen. The auctioneer may make consecutive offers in response to other offers in the interest of the consignor until the reserve price is reached. In the event of offers of the same amount, Itineris will consider only the first received offer.
14. DISPUTE: in the event of a dispute over the award of a lot, at the unquestionable judgment of the auctioneer the disputed lot may be put up for sale again to be awarded during the auction, or it may be withdrawn from the auction
15. LOT MANAGEMENT: the auctioneer has the right to combine and separate the lots and possibly change the sales order or, at its sole discretion, withdraw the lots during the auction if the bids do not reach the reserve price agreed between Itineris and the consignor. Itineris has the right to withdraw one or more lots from the auction at any time.
16. PARTECIPATION UNDER GUARANTEE: Itineris holds the right to subordinate the participation in the auction of a potential buyer to the presentation of bank references or to the deposit of an adequate guarantee to fully cover the possible hammer price of the desired lots.
17. LOT PAYMENT - AUCTION FEES: the successful bidder will pay to Itineris the auction fee (buyer’s premium), which amounts to:
- I. 35% (thirty five percent) inclusive of VAT of the hammer price of each lot equal or lower than 3.000 € (three thousand euros)
- II. 25% (twenty five percent) price inclusive of VAT of the hammer of each lot higher than 3.000 € (three thousand euros)
Any further charge or tax relating to the purchase will still be borne by the successful bidder. Full payment must be made no later than 5 (five) days from the auction day, anyhow before collecting the goods at sole buyer’s care, risk and expense. In the event of non-payment, in whole or in part, of the total amount due by the successful buyer within this term, Itineris will have the right, at its judgement, to:
a. return the goods to the consignor, requiring the non-buyer to pay 55% (fifty-five percent) of the hammer price as a penalty;
b.take legal action to obtain the compulsory execution of the purchase obligation;
c. sell the lot by private negotiation or in subsequent auctions on behalf and at the expense of the successful bidder, pursuant to art. 1515 of the Italian civil code, except in any case the right to compensation for damages.
Once the above term has elapsed, Itineris will in any case be exonerated from any liability towards the successful bidder in relation to any alteration or deterioration of the objects and will have the right to be paid for every single lot of the custody in addition to any reimbursement of expenses for transport to another warehouse, charging the buyer € 15 for each day of deposit.
18. LOT OWNERSHIP: the transfer of ownership of the lot will take place only at the time of the buyer’s full payment of the hammer price, auction fees, taxes and any other related costs or reimbursements: the purchaser may obtain delivery of the purchased goods only upon full payment to Itineris as due. Any risk for loss or damage to the awarded property will be transferred to the buyer at the time of the award. In the event that the purchaser will delegate a third party to collect the lot, the latter must be provided with a written proxy issued by the purchaser as well ID copies of both the delegating and the delegate parties.
19. GOODS SUBJECT TO VAT - GOODS IN TEMPORARY IMPORTATION: all lots owned by consignors subject to VAT (indicated in the catalog with the symbol [§]) will be subject, in addition to the auction fee, to 22% VAT on the hammer price; temporarily imported lots from non-EU countries (indicated in the catalog with the symbol [#]) will be subject, in addition to the auction fee, to 10% VAT (deposit for customs VAT advance) on the hammer price refundable only in case of proven non-EU re-exportation occurred within three months from the date of sale.
20. NOTIFIED GOODS: for items subject to notification by the Italian State pursuant to Legislative Decree 22.01.2004 n. 42 (the so-called Cultural Heritage Code) and subsequent amendments, the buyers are required to comply with all applicable laws. The successful bidder, in the event of exercise of the right of pre-emption by the State, cannot claim from Itineris or by the consignor any refund of the price and the auction fee, taxes and expenses, nor any interest calculated on them.
21. EXPORT FROM ITALY / IMPORT TO OTHER COUNTRIES: the export from Italy of any goods by buyers residing or not residing in Italy is governed by the legislation on notified goods, by the national and international customs, currency and tax laws in force. It is advisable to check your own legislation regarding the necessary requirements for imports of purchased goods into your country. Itineris does not guarantee export from Italy or import into other countries unless explicitly indicated in the catalogue, and does not assume any liability towards the buyer for any restrictions on the export and subsequent import of the lots awarded, nor for any licenses, certificates or proofs that the same must obtain under Italian, international or local legislation, the release of which is the responsibility of the purchaser; failure to release or delay in release does not constitute a cause for termination or cancellation of the sale, nor for reimbursement or delayed payment by the purchaser of the total amount due, even when Itineris was entrusted to present the related requests to the offices in charge. Obtaining an import license and/or certificate does not guarantee obtaining an export license or certificate and vice-versa. All lots made up of or containing parts of plants or animals (e.g. ivory, coral, turtle, alligator skin, whale bones etc), regardless of age and value, they may need a license or certificate for export and/or licenses and/or certificates for import in some countries. It is advisable to check your own legislation regarding the necessary requirements for imports into your country of goods made up or containing protected species.
22. SCIENTIFIC DISPUTE: any dispute must be communicated by registered mail or certified mail within 10 days of delivery of the goods, to be decided in an expert confrontation between a consultant of Itineris and an expert of equal qualification appointed by the buyer. Once this term has elapsed, Itineris liability will cease. A claim that is recognized as valid will only lead to the reimbursement of the paid sum, after the return of the good, in the same conditions as it was at the date of the sale, excluding any other claim. In the event of proofed disputes relating to counterfeited objects and accepted by Itineris, provided that an appropriate written communication will be delivered to Itineris within three months from the discovery of the defect and anyhow not later than five years from the date of the sale, and provided that the purchaser will be able to return the lot free of any claim and dispute by third parties, and the lot will be in the same condition in which it was at the date of sale, Itineris may, at its only judgement, cancel the sale and reveal the name of the consignor to the successful tenderer, giving prior notice to him. In derogation from the above, Itineris will not reimburse the buyer if the catalogue description of the lot in the complied with the opinion generally accepted by scholars and experts at the date of sale or indicated the authenticity or attribution of the lot as controversial, or if on the date of publication of the lot the counterfeiting could only be ascertained by carrying out analysis which were difficult to do, or whose cost was unreasonable, or which could have damaged and in any case lead to a decrease in the value of the lot. Itineris will not in any way and for any reason be liable in the event that changes occurred after the sale in the subjects accredited and appointed to issue certificates of authenticity of the goods.
23. ARTIST RESALE RIGHT: when due, the payment of the so-called "Artist Resale right" (introduced by Legislative Decree no. 118 of 13 February 2006, implementing Directive 2001/84 / EC) will be paid by the consignor.
24. JURISDICTION: these Conditions of sale are governed only by the Italian law and are tacitly accepted by all the participants in the auction. Any dispute that may arise in relation to the application, interpretation, and execution of these Conditions of Sale is exclusively in the jurisdiction of the Milan Court. The translation of the original Condizioni di vendita is intended only to facilitate the understanding of the text. Every effort has been made to make the translation as faithful as possible to the original italian text. In the event of any text discrepancy, the italian text on the http://www.livebid.it site will prevail.
26. CONTACTS: it is possible to contact Itineris by:
- tel: +39 011 1893 8618
- ordinary or registered mail: via Vivaio 24, 20122 Milan (MI) - Italy
- fax: +39 02 4946 2505