MODERN AND CONTEMPORARY ART

CONDITIONS OF SALE 1. All lots are offered for sale in Italy by Itineris S.r.l.. LiveBid.it is a brand owned by Itineris S.r.l.. 2. Itineris S.r.l. acts as exclusive agent in its own name and on behalf of each Seller pursuant to art. 1704 of the Italian cod. civ .. The effects of the sale affect the Seller, and Itineris S.r.l. does not assume any liability towards the Successful Bidder or third parties in general other than that deriving from the agent role. 3. All catalog estimates are expressed in euros, represent a mere indication and can be changed at any time and are unsuitable for generating any type of forecast on the hammer price. 4. Any representation, written, oral or digital, including those published in any catalog, 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 the lot is offered for sale. Itineris S.r.l. can not be held responsible 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 the objects presented in the catalogs 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 S.r.l. cannot guarantee wheter the watch is working or waterproof, or if any part has been replaced or restorated. 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 catalog, boxes, certificates and all accessories are not provided. 5. Each lot can be previously viewed by appointment. 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 catalog 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 state in which they are at the time of exposure, with possible defects and imperfections, and the lack of explicit references in the catalog does not imply that they are exempt. After the award, no disputes are admitted in this regard; neither Itineris S.r.l., nor its administrators and employees, collaborators and consultants will be held responsible for any error or omission. 6. Except in the case of willful misconduct, Itineris Srl, its administrators and its employees, collaborators and consultants will not be responsible for acts or omissions relating to the presentation or conduct of the auction or for any matter relating to the purchase of lots or to the failure to purchase. In other cases, the eventual liability of Itineris towards the Successful Bidder in relation to the purchase of a lot by the latter is limited to the Award Price and the purchase commission paid to Itineris by the Successful Bidder / Buyer. 7. It is possible to participate in the auction by telephone, internet or written offers, by sending the appropriate form to Itineris at least six hours before the start of the auction session. Itineris S.r.l. assumes no responsibility for offers inadvertently not made, for errors relating to the execution of the same, for offers that are not legible or incorrect, arrived late, and for any inconvenience or disservice concerning telephone lines or the internet line. 8. All awarded lots will be invoiced according to the communicated data. 9. All Written Offers could be sent by mail, email, fax, duly compiling and signing the request form on LiveBid.it sote; all received and accepted offers will be made on behalf of the bidder at the lowest possible price, considering the reserve price of the lots and the other offers. Offer forms with unlimited or no amount will not be considered valid. Itineris S.r.l. is not responsible for incorrectly filled in forms. Before sending the form, the potential Successful Bidder / Purchaser must verify that the description of the lot indicated in the form corresponds to what he intends to purchase; in particular, the potential Buyer is required to verify that there is a correspondence between the catalog number of the lot and its description. 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. 10. Telephone bidding requires Registration to the auction in advance, sending the appropriate form on Livebid.it site for approval. Calls can be recorded. 11. Internet bidding requires approval sending personal ID and explicit acceptance the Conditions of Sale on the website http://www.livebid.it or on the websites of the authorized providers. 12. Lots are awarded to the highest bidder ("Successful Bidder" or "Buyer") and in cash. 13. The Auctioneer conducts the auction starting 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 Seller until the Reserve Price is reached. In the event of offers of the same amount, Itineris will consider only the first received offer. 14. In the event of a dispute over the award of a lot, at the unquestionable judgment of the Auctioneer, the disputed lot may reprposed for sale during the auction and again awarded, or it may be withdrawn from the auction. 15. During the auction 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 if during the auction the bids in the do not reach the reserve price agreed between Itineris S.r.l. and Seller. Itineris has the right to withdraw one or more lots from the auction at any time. 16. Itineris S.r.l. 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. The Successful Bidder will correspond to Itineris S.r.l. the auction rights inclusive of VAT, for each lot, equal to 35% (thirty five percent) of the hammer price. Any further charge or taxe 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 tenderer within this term, Itineris S.r.l. will have the right, at its discretion, to: a) return the goods to the Seller, requiring the non-Buyer to pay 35% 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 S.r.l. will in any case be exonerated from any liability towards the Successful Bidder in relation to any deterioration or deterioration of the objects and will have the right to be paid for every single lot of the custody rights in addition to any reimbursement of expenses for transport to another warehouse, charging the Buyer ? 15 for each day of deposit. 18. The transfer of ownership of the lot will take place only at the time of the Buyer?s full payment. Any risk for loss or damage to the property awarded will be transferred to the Buyer from the time of the award. The Purchaser may obtain delivery of the purchased goods only upon payment to Itineris S.r.l. of the entire hammer price, auction rights and any other related costs or reimbursements. In the event that the Purchaser assigns a third party to collect the lot, the latter must be provided with a written proxy issued by the Purchaser as well as a photocopy of the document of the delegating party and the delegate. " 19. The lots delivered by vendors subject to VAT will be subject, in addition to the auction commission, to 22% VAT on the hammer price; temporary import lots from non-EU countries will be subject, in addition to the auction commission, to 10% VAT on the hammer price (deposit for customs VAT advance) refundable only in case of proven non-EU re-exportation within three months from the date of sale. 20. For items subject to notification by the 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 S.r.l. or by the Seller no refund of any interest on the price and on the auction commissions already paid. the export from Italy of objects by buyers residing or not resident 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, and does not assume any responsibility towards the buyer for any restrictions on the export and subsequent import of the lots awarded, nor for any licenses, certificates or certificates 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 delayed payment by the purchaser of the total amount due, even when Itineris became the actress of the presentation of the related requests to the competent authorities. 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. 21. Any dispute, to be decided primarily in the scientific forum between a consultant of Itineris S.r.l. and an expert of equal qualification appointed by the customer, must be relied on in writing by registered letter with return receipt within eight days of the award. Once this term has elapsed, Itineris S.r.l.'s liability ceases. A claim that is recognized as valid leads to the simple reimbursement of the sum actually paid, against the return of the work, in the same conditions in which it was at the date of the sale, excluding any other claim. In the event of disputes founded and accepted by Itineris S.r.l. relative to falsified objects, provided that the relative written communication reaches the same within three months from the discovery of the defect and in any case not later than five years from the date of the sale, and provided that the Purchaser is able to return the free lot to claims or any claim by third parties and the lot is in the same condition in which it was on the date of sale, Itineris Srl may, at its discretion, cancel the sale and reveal the name of the Seller to the successful tenderer, giving prior notice to the latter. In partial derogation from the above, Itineris S.r.l. will not reimburse the Buyer if the description of the lot in the catalog complies with the opinion generally accepted by scholars and experts on the date of sale or indicates the authenticity or attribution of the lot as controversial, if on the date of publication of the lot the counterfeiting could only be ascertained by carrying out analyzes 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 S.r.l. will not respond in any way and for any reason in the event that changes occur after the sale in the subjects accredited and appointed to issue the authenticates relating to the various works. 22. If due, the payment of the so-called "Resale right" (introduced by Legislative Decree no. 118 of 13 February 2006, implementing Directive 2001/84 / EC) will be paid by the Seller. 23. These Conditions of Sale are governed by 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 the competence of the Milan Court. 24. Pursuant to art. 13 Legislative Decree no. 196/2003 (Code regarding the protection of personal data), Itineris, in its capacity as data controller, informs that the data provided will be used, by paper and electronic means, in order to give full and complete execution to the purchase and sale contracts stipulated by the same company, as well as for the pursuit of any other service relating to the corporate purpose of Itineris Srl. The provision of data is optional, but is strictly necessary for the execution of the contracts concluded. Registration for auctions allows Itineris to send the catalogs of subsequent auctions and other information material relating to the activity of the same. 25. It is possible to contact Itineris S.r.l. by: tel: +39 011 1893 8618 email: info@livebid.it mail: via Vivaio 24, 20122 Milan (MI) - Italy fax: +39 02 4946 2505