Auction 1

Foreword: These General Conditions of Sale govern participation in auctions organized by Collectando Auctions, the awarding, and payment of lots, as well as the rights and obligations of the parties involved. Participation in the auction implies full acceptance of all clauses contained herein and a complete understanding of the dynamics and regulations governing auction sales.

For the purposes of these General Conditions of Sale, the terms listed below shall have the following meanings:

• Auction House: Refers to Collectando Auctions, with its registered office at Via Martiri di Belfiore, 21 - 58100 Grosseto, acting as an agent in the name and on behalf of each Seller, pursuant to Article 1704 of the Italian Civil Code.
• Seller: The natural or legal person who owns the lot offered for sale at auction by the Auction House.
• Buyer/Successful Bidder: The natural or legal person who, having submitted the highest valid bid, wins a lot at auction. Collectando Auctions will hold the successful bidder solely responsible for payment, even if they participated on behalf of or for third parties not previously disclosed.
• Lot: Each movable item, or group of items, offered for sale at auction, identified by a sequential number in the auction catalogue.
• Hammer Price: The final price at which a lot is awarded to the highest bidder, determined by the Auctioneer.
• Commissions: The percentages due to Collectando by the Buyer and Seller, calculated on the Hammer Price.

The sale of the Lots is considered to have occurred directly between the Seller and the Buyer. Collectando Auctions acts exclusively as an intermediary and agent, facilitating the transaction between the parties. This legal configuration, typical of a mandate without representation, implies that Collectando Auctions operates in its own name but on behalf of the Seller.
The items are sold "as is" ("visto e piaciuto"), in the factual and legal condition in which they are found, without any implicit or explicit warranty from Collectando Auctions regarding their quality, condition, or suitability for use, except as otherwise specified regarding authenticity. The items offered for sale are to be considered used goods or antique items and, as such, are not subject to the provisions of the Consumer Code regarding conformity guarantees, by virtue of what is provided for in art. 3, letter e) of Legislative Decree no. 206/2005.

Participation in the auction is permitted exclusively to individuals who are of legal age and legally competent. To participate, interested parties must register in advance with Collectando Auctions, providing all the personal data required for identification.

For natural persons, the following are required: first name, last name, date and place of birth, tax code, residence, telephone number, and a copy of a valid identity document and tax code.

For legal entities, the following are necessary: company name, registered office, registration number with the Companies Register, tax code and VAT number, as well as the details of the legal representative and documentation proving their powers.

Collectando Auctions does not accept bids for persons to be named later, nor does it allow the submission of multiple Secret Bids for the same lot by the same subject or, in the case of legal entities, by companies controlled and/or connected to each other within the meaning of Article 2359 of the Italian Civil Code. Collectando Auctions reserves the right to refuse participation to any subject at its sole discretion, without obligation to provide a reason.

Registered bidders will be assigned a unique paddle number to bid on auction lots; paddle numbers for absentee, telephone, or in-person bids may differ from paddle numbers for online bids. Bids can be placed online, by phone, absentee, or in person during selected auctions.

To bid online, registration is required 24 hours before the auction. To participate in online auctions, a bidder must create a password to be used in current and future online auctions. This online registration procedure does not allow participation in the live auction and may take up to two days to complete. Every registered bidder acknowledges that a bid, once placed with their paddle, cannot be withdrawn without the auctioneer's consent, who, at their sole discretion, may deny such consent. Every registered bidder accepts that, should a lot be closed at their bid, they are obligated to purchase the lot at the purchase price.

Bids can be submitted in several ways: directly online from the Collectando Auctions website, by phone, through previously submitted written absentee bids, or via online bidding platforms, where available, according to the specifications and terms indicated in the auction notice.

Registered buyers who are unable to participate in the online auction can use the following services:

a) Absentee Bids:
A buyer who can't participate in the auction in person or online has the option to submit an absentee bid. During the online auction, Collectando will bid on behalf of the buyer, committing to purchase the lot at the lowest possible selling price, up to the maximum amount requested.
To activate Absentee Bids, the buyer is required to send the ABSENTEE BID FORM by email. All bids must indicate the maximum price the buyer is willing to pay. In the event that two identical absentee bids are submitted, the bid received first (and submitted via a completed and signed absentee bid form) will take precedence over the later bid, potentially allowing the first-submitted bids to purchase the lot(s) at the submitted bid level.
All absentee bids must be submitted to Collectando at least 24 hours before the start of the sale.
Collectando Auctions assumes no responsibility for the failure to execute such bids or for any errors contained in the submitted bid forms.

b) Telephone Bids:
Collectando Auctions offers the possibility of placing telephone bids upon specific request, if a potential bidder is unable to participate in the live/online auction; in this case, they can contact the auction house for more details. The registered buyer is required to complete and send a TELEPHONE BID FORM at least 48 hours before the start of the auction. Collectando Auctions will confirm receipt by phone or email. Telephone bidders are asked to indicate their maximum bid directly on the form.
Collectando Auctions assumes no responsibility for the failure to execute such bids or for any errors contained in the submitted bid forms.

Every bid is final and binding, and the right of withdrawal will not apply. The buyer is therefore invited to request "condition reports" in case of doubts about the quality and condition of the lots, before proceeding with their bids.

The evaluation of the item's condition contained in the condition report, prepared upon the customer's express request, is the result of a visual and subjective examination carried out by Collectando Auctions and reflects only an opinion, expressed in good faith, for informational and guidance purposes only. It does not constitute, nor can it be interpreted as, a guarantee, binding declaration, or certification of the actual state of the work.

Collectando Auctions disclaims all responsibility for any discrepancies, omissions, or inaccuracies, and cannot in any case be held liable, for any reason, for damages, claims, or consequences arising from reliance on such evaluation.

Every bid submitted, in any way, is to be considered irrevocable, except as expressly provided for by art. 571 of the Italian Civil Procedure Code.

Each lot will be awarded only if the reserve price is met, which is the minimum price agreed upon between Collectando Auctions and the Seller. This price is not public and serves to protect the Seller from awards at prices considered inadequate. If the highest bid among the bidders does not reach the minimum reserve price, the lot will be considered not awarded to the bidders.

The items are sold/awarded to the highest bidder and "for cash," which implies that payment is due immediately after the award. Transfers of awarded lots to third parties are not accepted, unless participation in the auction in the name and on behalf of a third party has been previously communicated and accepted by Collectando Auctions. In any case, Collectando Auctions will consider only the winning bidder responsible for payment.

In addition to the Award Price, the Buyer is required to pay Collectando Auctions a buyer's commission of 25% (twenty-five percent) of the Award Price. For lots purchased on external online platforms, an additional 5% will be added to Collectando Auctions' award percentage for the use of the external platform. VAT will be applied to this commission according to current regulations.

The Seller is required to pay the Auction House a selling commission of 15% (fifteen percent) of the Award Price. Collectando Auctions reserves the right to modify this commission in agreement with the Seller, as stipulated in the sales mandate.

The application of VAT on auction transactions, particularly for used goods, art objects, antiques, and collectibles, is governed in Italy by the "Margin Scheme" (Decree Law no. 41/95, Art. 44 of the Tax Act). This special scheme is designed to avoid double VAT taxation on goods that have already been taxed at a previous stage of their marketing or have been acquired from non-VAT liable entities.

In addition to the Award Price and buyer's commissions, the Buyer will be required to pay further charges:

• Packaging Costs: Packaging fees will be due for preparing lots for collection or shipment. These costs will be €10 per package, except for fragile or large lots for which packaging must be agreed upon and quantified specifically. These costs must be paid to Collectando Auctions along with the payment for the lots.
• Storage Costs: In case of delay in the collection of lots beyond the established deadlines (10 working days from the auction date), storage fees will be charged, in addition to any handling costs.
• Shipping Costs: The transport and shipping costs of the lots, from Collectando Auctions' premises to the Buyer's desired destination, are entirely the responsibility of the Buyer. These costs can be agreed upon and included in the invoice if Collectando Auctions handles the packaging and shipping. The Buyer has the option to send a courier of their choice for collection, in which case only payment of packaging costs and the completion of a release form absolving Collectando Auctions from all transport-related liability will be required. All lots sent by Collectando Auctions to the Buyer will be sent via insured courier, unless the Buyer specifically requests in writing that shipping insurance not be activated. Any customs charges will be entirely the responsibility of the buyer, who also agrees to be available for the necessary customs clearance procedures.

For clarity, the main commissions and charges are summarized below:

Payment for awarded lots must be made in Euros, immediately and in any case within and no later than five (5) working days from the conclusion of the auction. Accepted payment methods include: bank transfer to Collectando Auctions, credit card (with a 2.5% surcharge on the total amount). It is essential that the payment is full and complete, as only after the full payment of the Total Price (including the Award Price, Buyer's Commissions, and Additional Charges) will ownership and possession of the lots transfer to the Buyer.

In case of non-payment of the Total Price within the essential deadline of five (5) working days from the conclusion of the auction, Collectando Auctions, at its discretion and without the need for formal notice, may take the following actions:

• Terminate the award and/or sale of the lot, pursuant to and for the effects of art. 1456 of the Italian Civil Code.
• Offer the lot to the second-highest bidder.
• Charge the defaulting Buyer the lost commissions and pursue recovery for greater damages suffered due to the default. This includes not only missed commissions but also any re-auction costs, depreciation of the item, or legal fees.
• Return the item to the Seller, without prejudice to the right to demand payment of lost commissions from the non-buyer.
• Seek enforcement of the purchase obligation, compelling the Buyer to complete the purchase.
• Offset any sum owed, for any reason, to the Buyer with any sum owed by the latter, for any reason, to Collectando Auctions.

Awarded lots may be collected from Collectando Auctions' premises, upon notification and agreement, within and no later than ten (10) working days from the auction date, and in any case only after the full payment of the Total Price. Collection is entirely the Buyer's responsibility, at their risk and expense. In case of collection by a courier or a person delegated by the Buyer, they must be provided with written authorization signed by the Buyer and a valid identification document.

With the Buyer's agreement and confirmation of the quote, Collectando Auctions will handle the packaging and shipping of the lots via insured courier.

After the ten (10) working days from the auction date have passed without the lot being collected, the lots may be moved to an external warehouse, and daily storage fees will be charged, in addition to any handling and transfer costs. Collectando will not be responsible for any damage, loss, or theft of lots not collected within the established deadlines, as the risk of custody transfers to the Buyer from the expiry of the collection deadline.

Collectando Auctions, in carrying out its activities, reserves a series of rights and powers aimed at ensuring the correct management of auctions and the protection of its interests and those of the Sellers.

Collectando Auctions reserves the right, at its sole discretion, to withdraw any lot from the auction at any time before the award, without needing to provide a reason. This includes the right to withdraw lots that do not reach the reserve price agreed upon with the Seller or in cases of claims or rights of third parties concerning the ownership, possession, or holding of the goods.

Collectando Auctions acts solely as an agent in the name and interest of each Seller, as already specified in Article 1.

Collectando Auctions has the right to refuse any bid it deems inappropriate, even without specific justification, in order to preserve the integrity and value of the sale.

In case of disputes regarding the identity of the Buyer or other matters arising during the auction, Collectando Auctions has the right, at its sole discretion, to re-offer the lot for sale or to resume the bidding from the previous offer. This immediate resolution capability is crucial for maintaining order and fluidity in auction operations.

In case of non-payment or non-collection of lots by the Buyer within the established deadlines, Collectando Auctions may exercise the rights and powers provided for in Article 5 of these Conditions, including contract termination, recovery of lost commissions, and compensation for damages.

Lots are sold in their current state and legal condition, with the “as is” (seen and liked) clause. Descriptions in catalogs, on the website, or in any other informational material are to be considered mere opinions of the Auction House and not factual guarantees regarding the quality, condition, provenance, era, or attribution of the goods. Bidders are invited to carefully examine the lots before the auction and to seek clarification or appraisals from their trusted experts.

All photographic representations in the catalog are purely indicative and should not be considered reliable in terms of tone or color, nor necessarily for revealing any imperfections of the lot. Collectando Auctions cannot guarantee the functionality of any filling or operating mechanism. If malfunctions of mechanical or other parts are found, even if they were working at the time of sale, Collectando Auctions will not be held responsible.

All information provided by Collectando Auctions, including that provided by all owners, directors, officers, employees, contractors, and agents of Collectando Auctions, in its catalogs, other written or oral descriptions, via email or elsewhere, constitutes statements of opinion. They are not intended to constitute (and do not constitute or are to be considered as) guarantees or representations of any kind or nature, including in relation to ownership or its value, merchantability, fitness for a particular purpose, or any acquisition of copyright by the buyer. In no event shall Collectando Auctions or the sender be liable for the accuracy of descriptions, dimensions, authenticity, attribution, provenance, authenticity, completeness, the condition of the property, or the estimate of value.

Upon request by the Buyer, Collectando Auctions undertakes to provide supplementary photographic documentation for each lot in the catalog and additional information on its condition.

It is the bidder's sole responsibility to inquire about the condition of a lot before submitting a bid. Condition reports are available upon request by phone, email, or in person. A condition report is only a matter of opinion (and not a guarantee, representation, or commitment), it is not exhaustive, and Collectando Auctions will not be liable for any errors or omissions contained therein. A condition report does not exempt the bidder from the responsibility of ascertaining the condition of the lot, as provided for in the conditions above. The bidder is required to submit such requests before the sale. Condition report requests must be submitted no later than 24 hours before the start of the auction. Collectando Auctions will not update or provide a condition report on any lot after its sale.

When possible, the Buyer is offered the opportunity to view and inspect all goods offered for sale by Collectando Auctions through public viewings and/or private viewings arranged before the auction. No sale will be canceled due to a discrepancy between the lot description provided by Collectando Auctions and the lot itself, including the images provided by Collectando Auctions.

The Seller guarantees the legitimate provenance and full and free availability of the lots offered for sale, ensuring that they are not encumbered by liens, pledges, or other third-party claims. The Seller is solely and directly responsible for the authenticity and authorship of the work, as provided by article 63 of Legislative Decree 29 October 1999, no. 490 (now part of the Cultural Heritage Code).

Collectando Auctions, acting as agent, assumes no direct liability towards the winning bidder, the seller, or any other third party in general for defects or discrepancies in the lots, except in cases of fraud or gross negligence in their description.

Collectando Auctions undertakes to process the personal data of participants and involved parties in accordance with the General Data Protection Regulation (GDPR - EU Regulation 2016/679) and current Italian legislation on the protection of personal data (Legislative Decree 196/2003 and subsequent amendments).

The personal data collected will be processed solely for the purpose of providing the service in question, namely, auction management, fulfilment of contractual and legal obligations, and for other purposes strictly related to the company's corporate purpose, in the manner necessary for that purpose. The collection and processing of data are limited to what is strictly necessary for the execution of services and legal obligations.

Data subjects may at any time exercise the rights provided by the GDPR, including the right of access, rectification, erasure (right to be forgotten), restriction of processing, objection to processing, and data portability, by contacting Collectando Auctions at the contacts indicated on its website or at its offices.

These General Conditions of Sale and all legal relationships arising from them, as well as any dispute relating to their interpretation, validity, or execution, are subject to Italian law. This establishes the legal framework for all operations and contractual relationships.

For any dispute arising from the interpretation or application of these Conditions, the parties undertake to attempt an amicable resolution through alternative dispute resolution (ADR) procedures (Legislative Decree 6 August 2015, no. 130, which implemented the ADR Directive for consumers 2013/11/EU).

The parties may refer to ADR bodies registered in the specific list maintained by the Ministry of Enterprises and Made in Italy or by other competent authorities, depending on the nature of the dispute. The proposals or conclusions formulated by the mediator or ADR body are not binding on the parties, who nevertheless reserve the right to submit the dispute to the competent court if conciliation is unsuccessful.

Should disputes not be resolved amicably or through ADR procedures, the exclusive competent court for any dispute arising from these Conditions will be the Court of Grosseto.