LIVE AUCTION OF DIAMONDS, WATCHES AND JEWELS FROM IMPORTANT COLLECTIONS

EXCEPTION TO THE RIGHT OF WITHDRAWAL

Pursuant to Article 59, paragraph 1, letter m) of the Consumer Code, if the auction

sale contract is concluded with a bidder who has made an online offer through the

site and/or platform and can be classified as a consumer pursuant to Article 3, paragraph

1, letter a) of the Consumer Code, the Buyer will not have the right of withdrawal, as the

sale method used is a public auction, as defined in Article 45, paragraph 1, letter o)

of the Consumer Code.

TERMS OF SALE

EXCEPTION TO THE RIGHT OF WITHDRAWAL

Pursuant to Article 59, paragraph 1, letter m) of the Consumer Code, if the auction sale contract is concluded with a bidder who has made an online offer through the

site and/or platform and can be classified as a consumer pursuant to Article 3, paragraph 1, letter a) of the Consumer Code, the Buyer will not have the right of withdrawal, as the

sale method used is a public auction, as defined in Article 45, paragraph 1, letter o)

of the Consumer Code.

ESTIMATES / AUCTION PRICES

Next to each description of the lots in the catalog, a starting price is indicated, which

does not include the seller's premium. The auction is priced in Euros (€). Furthermore, in some cases, estimates may be indicated that correspond to the probable market value of the lot.

Both the estimates and starting prices shown in the catalog are indicative and may be subject to revision.

RESERVE

The reserve price corresponds to the confidential minimum price below which the lot will not be sold. It may be higher than the starting price indicated in the catalog. Veronik Watches

reserves the right to make an offer in the seller's interest until the reserve is reached. Lots without a reserve are marked "WITHOUT RESERVE" in the catalog.

BUYERS' COMMISSION

In addition to the final hammer price, the buyer will be required to pay a 25% premium

(auction fee).

VAT REGIME (MARGIN REGIME)

Sales made by Veronik Watches under commission agreements with

private consumers or VAT-registered entities operating under the Margin Regime are

subject to the Margin Regime, established by Article 40 bis of Legislative Decree 41/95. For such sales, Veronik

Watches will not apply VAT on services rendered to the buyer, nor VAT on the hammer price. This VAT regime does not apply to sales of goods from VAT-registered entities

who have already deducted the tax at the time of purchase, nor to sales of temporarily

imported goods, cases governed by the general legislation in force. The VAT on the hammer price is refundable only upon proven export outside the EU within

three months of the sale date, with supporting documentation received by Veronik

Watches within four months of that date. The VAT on the commission and the hammer price is not applicable to non-Italian VAT-registered entities residing in EU countries.

PRE-AUCTION EXHIBITIONS

Pre-auction exhibitions are open to the public and will be held from the Saturday

before the auction begins and during the auction itself. For precious items and watches,

the auction will be held on the Friday, Saturday, and Sunday before the start of the auction

and during the auction itself.

AUCTION REGISTRATION

To participate in the auction, you must register by providing a valid ID, your

tax code, at least one telephone number, and a privacy release. Anyone participating

in the Salone degli Incanti must collect their participation number at the

reception desk (paddle). If the buyer is acting on behalf of a third party, a

written proxy is required. Lots will be invoiced to the name and address provided during registration.

WRITTEN, TELEPHONE, AND INTERNET BIDS

For those unable to attend the auction in person, Veronik Watches will be happy to

execute written, telephone, or online bids. Please note that the service is free of charge and therefore

Veronik Watches cannot be held liable for any kind of liability. Veronik Watches will not be

responsible for bids that are inadvertently not placed or for errors in their

placement, especially if the Bid Forms are filled out incorrectly, incompletely, or otherwise illegible.

Written Bids:

Written Bids will be placed on behalf of the bidder at the lowest possible price,

considering the reserve price and other bids. They can be placed by submitting

your bid to Veronik Watches at least 4 hours before the start of the auction via:

- email [email protected]

Telephone Bids:

Bids can be placed before the start and during the auction by calling +39

(0)5321717507. Upon prior agreement with the Bidding Office, for lots with a starting price equal to or greater than €500.00, Veronik Watches may arrange telephone calls during the auction.

The Buyer will be asked to communicate the maximum bid limit in the event of telephone connection problems. For "NO RESERVE" lots, the customer may be contacted

but only if they make a bid and upon specific request, should such a bid be

outperformed during the auction, the bidder will be contacted by telephone to participate in the bidding

at a subsequent auction.

Bidding Via the Internet:

To bid online, you must be registered (See "Auction Registration").

The customer can then register for the web service by connecting to the website

www.veronikwatches.com, where they can choose a "username" and "password."

With these, after our confirmation, they can participate in the auction through the "login" link

found on the home page, or by registering on the Onebid.

HAMMER PRICE AND PAYMENTS

The hammer strike indicates the lot has been awarded, and at that moment the buyer assumes

full responsibility for the lot. The results of the sale will be published after the auction.

Buyers must pay the hammer price plus commission and VAT where

applicable within 5 days of the auction end and may withdraw the lot for at least 45 days.

After viewing and confirming a lot, no complaints will be accepted

regarding the integrity of the work. We are happy to provide you with a report containing the general

condition of the aforementioned item. Potential buyers are required to inspect each lot to

personally assess its condition.

Payments

1. Bank transfer to

BANCA SELLA - Ferrara Branch

IBAN: IT 03 i 0326813000052333018390

SWIFT CODE

SELBIT2BXXX

IN THE NAME OF VERONIK WATCHES

COLLECTION OF AWARDED LOTS

The items will be collected by the buyer at their own risk and expense upon payment to be made

according to the above methods. Veronik Watches is not responsible for damages resulting

from modifications, repairs, or restorations requested by the successful bidder.

COLLECTION OF LOTS BY DELEGATION

If the buyer delegates a third party to collect the items, a written authorization is required,

attached with a photocopy of the delegating person's ID, as well as a receipt issued by

Veronik Watches' Administration.

SHIPPING COSTS

The successful bidder, having paid the hammer price and the auction fee, must

collect the purchased lots at his/her own risk and expense. Upon express request, Veronik Watches may

organize, at the winning bidder's expense and risk, transportation and insurance of the lot,

starting from €20 (twenty) for uninsured transportation and €89 (eighty-nine) for

insured transportation.

VAT EXCLUSION FOR NON-EU CUSTOMERS

To benefit from VAT exemption on purchases, it is ESSENTIAL that the goods

purchased are exported to non-EU countries. Furthermore, it is ESSENTIAL to choose one

of the following options: (N.B.: In both cases, VAT exemption is immediately reflected in the invoice).

Option 1. Ship to Veronik Watches - via accredited couriers - whose costs

must be agreed upon in advance with the Shipping Office and paid before

shipment.

Option 2. Ship to a trusted, internationally recognized courier of your choice. Proof of shipment (customs bill or

copy of invoice with export notification - MRN Movement Reference Number) must

be returned to Veronik Watches STRICTLY no later than 90 days from the date of

delivery of the goods to the courier. If this documentation is not received within the

established deadline, Veronik Watches will charge the customer the VAT amount.

DISPUTES

These Conditions of Sale are automatically accepted by all bidders

at the Auction and are available to any interested party upon request.

In the case of a Consumer Buyer, any dispute relating to the application and

interpretation of these General Conditions of Sale shall be subject to the jurisdiction of the

Court of Ferrara. It should be noted that the clause waiving the consumer's jurisdiction has been the subject of

specific individual negotiation, and the consumer declares acceptance of its content.

Pursuant to Article 141 sexies, paragraph 1, of the Italian Civil Code. 3 of the Consumer Code, where applicable, Veronik Watches

informs the Consumer buyer that, if he or she has submitted a complaint

directly to Veronik Watches, following which it has not been possible to resolve

the dispute thus arising, Veronik Watches will provide information regarding the

Alternative Dispute Resolution (ADR) body or bodies for the out-of-court resolution of

disputes relating to obligations arising from a contract concluded under these

General Conditions of Sale, specifying whether or not it intends to avail itself of such bodies to

resolve the dispute.

In any case, the Consumer Buyer retains the right to bring the dispute arising from the interpretation of these

General Conditions of Sale before the competent ordinary court, regardless of the outcome of the out-of-court dispute resolution procedure

relating to consumer relations, by resorting to the procedures set forth in Part V, Title II bis

of the Consumer Code.EXCEPTION TO THE RIGHT OF WITHDRAWAL

Pursuant to Article 59, paragraph 1, letter m) of the Consumer Code, if the auction

sale contract is concluded with a bidder who has made an online offer through the

site and/or platform and can be classified as a consumer pursuant to Article 3, paragraph

1, letter a) of the Consumer Code, the Buyer will not have the right of withdrawal, as the

sale method used is a public auction, as defined in Article 45, paragraph 1, letter o)

of the Consumer Code.

TERMS OF SALE

EXCEPTION TO THE RIGHT OF WITHDRAWAL

Pursuant to Article 59, paragraph 1, letter m) of the Consumer Code, if the auction sale contract is concluded with a bidder who has made an online offer through the

site and/or platform and can be classified as a consumer pursuant to Article 3, paragraph 1, letter a) of the Consumer Code, the Buyer will not have the right of withdrawal, as the

sale method used is a public auction, as defined in Article 45, paragraph 1, letter o)

of the Consumer Code.

ESTIMATES / AUCTION PRICES

Next to each description of the lots in the catalog, a starting price is indicated, which

does not include the seller's premium. The auction is priced in Euros (€). Furthermore, in some cases, estimates may be indicated that correspond to the probable market value of the lot.

Both the estimates and starting prices shown in the catalog are indicative and may be subject to revision.

RESERVE

The reserve price corresponds to the confidential minimum price below which the lot will not be sold. It may be higher than the starting price indicated in the catalog. Veronik Watches

reserves the right to make an offer in the seller's interest until the reserve is reached. Lots without a reserve are marked "WITHOUT RESERVE" in the catalog.

BUYERS' COMMISSION

In addition to the final hammer price, the buyer will be required to pay a 25% premium

(auction fee).

VAT REGIME (MARGIN REGIME)

Sales made by Veronik Watches under commission agreements with

private consumers or VAT-registered entities operating under the Margin Regime are

subject to the Margin Regime, established by Article 40 bis of Legislative Decree 41/95. For such sales, Veronik

Watches will not apply VAT on services rendered to the buyer, nor VAT on the hammer price. This VAT regime does not apply to sales of goods from VAT-registered entities

who have already deducted the tax at the time of purchase, nor to sales of temporarily

imported goods, cases governed by the general legislation in force. The VAT on the hammer price is refundable only upon proven export outside the EU within

three months of the sale date, with supporting documentation received by Veronik

Watches within four months of that date. The VAT on the commission and the hammer price is not applicable to non-Italian VAT-registered entities residing in EU countries.

PRE-AUCTION EXHIBITIONS

Pre-auction exhibitions are open to the public and will be held from the Saturday

before the auction begins and during the auction itself. For precious items and watches,

the auction will be held on the Friday, Saturday, and Sunday before the start of the auction

and during the auction itself.

AUCTION REGISTRATION

To participate in the auction, you must register by providing a valid ID, your

tax code, at least one telephone number, and a privacy release. Anyone participating

in the Salone degli Incanti must collect their participation number at the

reception desk (paddle). If the buyer is acting on behalf of a third party, a

written proxy is required. Lots will be invoiced to the name and address provided during registration.

WRITTEN, TELEPHONE, AND INTERNET BIDS

For those unable to attend the auction in person, Veronik Watches will be happy to

execute written, telephone, or online bids. Please note that the service is free of charge and therefore

Veronik Watches cannot be held liable for any kind of liability. Veronik Watches will not be

responsible for bids that are inadvertently not placed or for errors in their

placement, especially if the Bid Forms are filled out incorrectly, incompletely, or otherwise illegible.

Written Bids:

Written Bids will be placed on behalf of the bidder at the lowest possible price,

considering the reserve price and other bids. They can be placed by submitting

your bid to Veronik Watches at least 4 hours before the start of the auction via:

- email [email protected]

Telephone Bids:

Bids can be placed before the start and during the auction by calling +39

(0)5321717507. Upon prior agreement with the Bidding Office, for lots with a starting price equal to or greater than €500.00, Veronik Watches may arrange telephone calls during the auction.

The Buyer will be asked to communicate the maximum bid limit in the event of telephone connection problems. For "NO RESERVE" lots, the customer may be contacted

but only if they make a bid and upon specific request, should such a bid be

outperformed during the auction, the bidder will be contacted by telephone to participate in the bidding

at a subsequent auction.

Bidding Via the Internet:

To bid online, you must be registered (See "Auction Registration").

The customer can then register for the web service by connecting to the website

www.veronikwatches.com, where they can choose a "username" and "password."

With these, after our confirmation, they can participate in the auction through the "login" link

found on the home page, or by registering on the bidspirit, onebid, interencheres,

arsvalue portals.

HAMMER PRICE AND PAYMENTS

The hammer strike indicates the lot has been awarded, and at that moment the buyer assumes

full responsibility for the lot. The results of the sale will be published after the auction.

Buyers must pay the hammer price plus commission and VAT where

applicable within 5 days of the auction end and may withdraw the lot for at least 45 days.

After viewing and confirming a lot, no complaints will be accepted

regarding the integrity of the work. We are happy to provide you with a report containing the general

condition of the aforementioned item. Potential buyers are required to inspect each lot to

personally assess its condition.

Payments

1. Bank transfer to

BANCA SELLA - Ferrara Branch

IBAN: IT 03 i 0326813000052333018390

SWIFT CODE

SELBIT2BXXX

IN THE NAME OF VERONIK WATCHES

COLLECTION OF AWARDED LOTS

The items will be collected by the buyer at their own risk and expense upon payment to be made

according to the above methods. Veronik Watches is not responsible for damages resulting

from modifications, repairs, or restorations requested by the successful bidder.

COLLECTION OF LOTS BY DELEGATION

If the buyer delegates a third party to collect the items, a written authorization is required,

attached with a photocopy of the delegating person's ID, as well as a receipt issued by

Veronik Watches' Administration.

SHIPPING COSTS

The successful bidder, having paid the hammer price and the auction fee, must

collect the purchased lots at his/her own risk and expense. Upon express request, Veronik Watches may

organize, at the winning bidder's expense and risk, transportation and insurance of the lot,

starting from €20 (twenty) for uninsured transportation and €89 (eighty-nine) for

insured transportation.

VAT EXCLUSION FOR NON-EU CUSTOMERS

To benefit from VAT exemption on purchases, it is ESSENTIAL that the goods

purchased are exported to non-EU countries. Furthermore, it is ESSENTIAL to choose one

of the following options: (N.B.: In both cases, VAT exemption is immediately reflected in the invoice).

Option 1. Ship to Veronik Watches - via accredited couriers - whose costs

must be agreed upon in advance with the Shipping Office and paid before

shipment.

Option 2. Ship to a trusted, internationally recognized courier of your choice. Proof of shipment (customs bill or

copy of invoice with export notification - MRN Movement Reference Number) must

be returned to Veronik Watches STRICTLY no later than 90 days from the date of

delivery of the goods to the courier. If this documentation is not received within the

established deadline, Veronik Watches will charge the customer the VAT amount.

DISPUTES

These Conditions of Sale are automatically accepted by all bidders

at the Auction and are available to any interested party upon request.

In the case of a Consumer Buyer, any dispute relating to the application and

interpretation of these General Conditions of Sale shall be subject to the jurisdiction of the

Court of Ferrara. It should be noted that the clause waiving the consumer's jurisdiction has been the subject of

specific individual negotiation, and the consumer declares acceptance of its content.

Pursuant to Article 141 sexies, paragraph 1, of the Italian Civil Code. 3 of the Consumer Code, where applicable, Veronik Watches

informs the Consumer buyer that, if he or she has submitted a complaint

directly to Veronik Watches, following which it has not been possible to resolve

the dispute thus arising, Veronik Watches will provide information regarding the

Alternative Dispute Resolution (ADR) body or bodies for the out-of-court resolution of

disputes relating to obligations arising from a contract concluded under these

General Conditions of Sale, specifying whether or not it intends to avail itself of such bodies to

resolve the dispute.

In any case, the Consumer Buyer retains the right to bring the dispute arising from the interpretation of these

General Conditions of Sale before the competent ordinary court, regardless of the outcome of the out-of-court dispute resolution procedure

relating to consumer relations, by resorting to the procedures set forth in Part V, Title II bis

of the Consumer Code.