This notice is addressed by Bertolami Fine Art S.r.l. to any person who may be interested in a Lot. An additional information applicable to the Sale may be set out in the Catalogue for the Sale, in an insert in the Catalogue and/or in a notice displayed at the Sale venue and you should read them as well.
The information for buyers and terms and conditions of sale are subject to the updates that will be immediately posted on our website www.bertolamifineart.com. If there are discrepancies between the text published in the printed catalogs and the text published on our website is authentic the online version.

1. Bertolami Fine Art s.r.l. (henceforth BFA) acts as the sole agent for officially registered sellers. The proceeds of the sale are due to the seller, BFA does not assume any liability beyond those accruing to it as a mandatory agent for the seller or any other third parties.
2. The highest bidder is the buyer at the final hammer price, any dispute shall be settled at the auctioneer’s absolute discretion. Every bidder is deemed to act as a principal unless BFA has written acknowledgement that he or she acts as an agent on behalf of a named principal.
   Offers may be made through our website (www.bertolamifineart.com), or live portal web, fax, email, phone (in this case, the calls will be recorded, at the discretion of the BFA) or directly to the offices of BFA. Offers made by email, fax, phone, through our website or live portal web, can be received until the time indicated in the information for buyers. BFA cannot transfer to third parties lots already awarded, therefore only the original buyer is considered responsible for payment.
   Buyers who have not established a credit arrangements with BFA will be asked to pay for their purchases in Euro on taking possession. BFA cannot take banker’s references over the telephone at the time of clearance and buyers will not be entitled to possession of their purchases until payment is made in full.
3. BFA reserves the law to remove any lot. During the auction, the auctioneer has the right to combine or separate lots and change the order of sale. BFA may also remove lots if the offers do not reach the reserve price agreed between BFA and the seller.
4. A premium on the hammer price (inclusive of VAT for European customer) is payable by the buyer on all sales.
5. All prospective bidders are required to register with BFA and fill out a commission form before each auction.
   Under Italian law purchases can only be made by persons over the legal age of 18. A prospective bidder under the legal age must bid through a parent, legal guardian or acquaintance of legal age.
6. BFA can make bids, agreeing mandates for the purchasing, through the auctioneer during the auction. In case of identical bids, the written bid prevails over the oral expressed in the auction.
   In case of matching written bids the lot will be awarded to the bidder whose bid has been received first.
   BFA can refuse bids of unknown bidders, unless it is issued a deposit for the entire value of the desired lots. However, other adequate collateral may be given.
7. BFA requires personal ID from successful bidders at the time of award. The successful bidders shall provide adequate and verifiable credit reference. In case of mismatch with genuine ID or incomplete ID, BFA may cancel the contract of sale of lots.
8. BFA, as acting agent for the seller, declines any responsibility as to the descriptive content and illustrations of the objects in its catalogues, brochures or other forms of artwork it generates, all descriptions and images are indicative. In order to allow for a thorough examination of the condition, provenance and appearance of the objects offered, ample time is given for their inspection. Neither BFA nor the seller is responsible for statements of opinion concerning the description, condition, weight or erroneous attribution of the items offered. After adjudication neither BFA nor the personnel of BFA will be held responsible for any controversies arising as to the state of preservation, provenance, omissions or erroneous attribution of the items offered. Neither BFA nor its personnel can give any guarantee to this effect, except in cases as foreseen by Italian law.
   BFA stipulates that according to Article 1488, paragraph 2, of the Italian Civil Code, this sale contract is defined as of “an uncertain nature” and is therefore exempt of any warranty for loss or dispossession. Therefore, if a buyer suffers a loss or dispossession in part or whole of a purchased item of the present sale, no refund of the price paid or of costs incurred thereof may be claimed from BFA. Under Article. 1487, paragraph 2, of the Italian Civil Code, there is a continuing guarantee for the loss or dispossession of items when in the possession of BFA.
   Moreover, BFA is not liable to the buyer for any loss of profit or any other indirect or consequential loss or damage arising from breach of contract, from non-contractual to pre-contractual liabilities.
   BFA is obliged to consign to the buyer any item contractually purchased, but is freed from this liability in the event or circumstance beyond the control of both parties, such as a strikes, theft, fire or other natural disasters, delays and the cancellations of transport systems, including bans on sale, export or import on the part of Italian or foreign authorities. BFA will refund the amounts received by the buyer for the purchase of the property except those relating to the cost of transporting the goods, if executed or in progress, insurance and customs export or import taxes applied to any item.
9. The pre-sale estimates are intended as a guide for prospective bidders and do not include commission charges on the hammer price. Lot descriptions in the catalogue can be changed, revised or corrected, any such sale notices will be communicated before or during the sale. BFA may accept absentee bids which are below the reserve price.
   If the bidding ends before the reserve is reached, Bertolami Fine Art will submit the consignor the highest absentee bid below the reserve price received. The decision of the seller will be communicated to the bidder within fifteen days from the auction date
10. All payments must be made in Euro and payable in full to BFA within seven days of the auction closure date and time. Failure of payment will incur, without prejudice to any other rights, proceedings against the buyer for the following:
    a) For damages and breach of contract with the enforcement of the compulsory purchase obligation.
    b) To dispose the lot by private treaty or cause it to be re-sold by public auction for which the defaulting buyer shall be liable to BFA for any resulting deficiency in the total amount realized and advance payments received will be withheld.
    Unpaid items will be held by BFA at the buyer’s risk and expense until sold as stated above or returned at the Vendor’s request. In any case, until the date of payment or sale, the buyer shall held responsible by BFA for a penalty of 1%/month of the total invoice. The interest will be calculated from the 30th day following adjudication. Ownership of lots purchased shall not pass to the buyer until he or she has made payment in full.
11. Shipment for goods sold to Italian buyers is normally made by courier and insured at the risk and expense of the recipient, except otherwise agreed directly with the buyer. The shipment for goods sold to foreign buyers for an amount exceeding € 200.00 are usually made with courier at the expense and risk of the recipient, except otherwise agreed directly with the buyer. If specifically requested by the customer, BFA will make shipment by registered mail, insured and traceable. The shipment of the invoices amount less than € 200.00 is normally done by registered mail.
12. Notwithstanding any provision to the contrary contained herein, BFA reserves the right to accept alternative methods of payment including items deposited in private or public warehouses or sell privately the lots awarded. In order to resolve disputes or complaints made by buyers BFA may take any action deemed appropriate to collect the amount due or depending on the circumstances, cancel the sale under articles 13 and 15 of our conditions of sale and return the money paid by the buyer.
    Payment of purchased items must be made no later than 7 days from the sending of the purchase invoice to the email indicated by the successful bidders. From the 21st day after the purchase invoice is sent, a penalty of 1%/month will be charged on the amount of the invoice unpaid. If the successful bidder doesn’t make the payment within the terms of payment, he expressly authorizes BFA to delete the sale, offer the goods to potential third-party buyers and to indicate his name in the national and international bad payer list and to any operator or person that request it. The winning bidder who doesn’t make the payment can no longer participate in any sale of BFA.
13. Successful bidders are required to comply with all the laws and regulations of The Italian Republic concerning historical or cultural objects of art. The export of archaeological or items of historical and artistic interest by buyers, resident and not in Italy, is regulated by specific regulations, currency restrictions and taxes. The waiting time for export permits is approximately 60/90 days from date of request at the competent Export Office. The license application is submitted to the ministry upon full payment of the lot and the express request of the buyer.
    BFA accepts no responsibility in respect of the buyer regarding possible restrictions on the export of purchased lots, either in regard to export licenses or other certificates required under Italian law.
    In case of the Italian State exercising its Right Of First Refusal, the buyer cannot claim from BFA or the seller any reimbursement of interest on the hammer price and fees already paid.
14. Successful bidders (i.e. Italian citizens resident in Italy) are required by law to provide BFA with their identity document and tax code number.
15. All identifications and descriptions of the items sold in this catalogue are statements of opinion and were made in good faith.
16. Under Article 49 of Italian Legislative Decree no. 231/2007, paragraph 1, payments in cash are not accepted for an amount equal to or greater than 2.900 €.
17. Multiple lots containing coins that are not illustrated are sold ‘as is’ and may not be returned by the buyer.
18. These terms and conditions of business are automatically accepted by those participating in our sales and are available on request.
19. Under Article 13 of Italian Legislative Decree no. 196 of 30.6.2003 (The Privacy Code) bidders are reassured that personal data given to AR is protected and exclusively to satisfy the requirements of the Italian authorities with regard to contracts, customers and related trade. This personal data is centrally kept and is only accessible to authorized personnel.
    The disclosure of personal data is obligatory under Italian law and facilitates the establishment and the continuation of commercial relationships, the absence of which is departmental to the contractual obligations of bidders and consignors. The disclosure of other personal data is voluntary, aimed at enabling better customer service and may be disclosed only to a parent, affiliated companies or specialist service providers such as:
    I) software, hardware and information computer systems.
    II) data processing and storage systems.
    III) printing, transmission, addressing, transport and handling systems.
    IV) financial services companies, debt collection and financial risk agencies.
    Customers may always exercise the right of privacy as stipulated by Article 7 of The Privacy Code.
    The responsibility for data protection is with Bertolami Fine Art s.r.l., in Piazza Lovatelli, 1, 00186 Rome, Italy, founded and owned by Mr. Giuseppe Bertolami. Customers sending purchase orders by email acknowledge the above notices and agree to the aforesaid processing of their personal data.
20. Any legal action or claim related or arising from this agreement regarding the application, execution or interpretation of the present purchase contract, shall come under Italian law. Any legal dispute between the parties relating to this contract will be brought only in a court sitting in Rome, Italy.
    The above mentioned conditions are written in English, in the event of any legal dispute, the only valid text is the Italian version.

Value Added Tax

The Value Added Tax Margin Scheme

All sales are conducted by BFA under the VAT Margin Scheme (Articles 40 bis, 41/95 and subsequent modifications). Therefore BFA will not apply additional VAT on the hammer price.

This information is addressed to any person interested in purchasing the lots offered for sale by Bertolami Fine Art s.r.o. in its auctions. Information regarding the current auction may be included in the catalogue or communicated in the auction room before or during the sale. Auction information, terms and conditions of sale may be subject to updates, which will be published immediately on our website.

Should there be any discrepancies between the text of the regulations published in the printed catalogues and those published on our website, the online version shall prevail.

1. Bertolami Fine Art s.r.o. (hereinafter referred to as BFA), acts directly or as an exclusive agent in its own name and on behalf of each seller. Auctions shall be conducted in accordance with Act No. 26/2000 Coll. on public auctions and in line with international customs regarding the trade in works of art. The effects of the sale affect the seller and BFA does not, when acting as agent, assume any liability towards the successful bidder or third parties in general other than that arising from its capacity as agent.
2. The items shall be awarded to the highest bidder. In the event of a dispute between several successful bidders, the lot will, at the sole discretion of the auctioneer, be put up for sale again during the auction itself and re-adjudicated. Bids may be placed through our website (www...) or the web portals published in the sale information, by fax, by email, by telephone (in which case the telephone calls will be recorded, at the discretion of BFA) or directly at BFA's offices. Bids by telephone, by email, by fax, through our website or through the web portals indicated above may be placed up to the time indicated in the auction information. BFA will not accept transfers to third parties of lots already awarded and will hold the successful bidder solely responsible for payment. Participation in the auction in the name and on behalf of a third party may only be accepted after having deposited a certified power of attorney and adequate bank references at the offices of BFA.
3. BFA reserves the right to withdraw any lot from the auction. The auctioneer, during the auction, shall be entitled to combine or separate lots and possibly vary the order of sale. The auctioneer may, at his sole discretion, withdraw lots if the auction bids do not reach the reserve price agreed upon between BFA and the seller. BFA also reserves the right, in its sole discretion, to annul the awarding of a lot if, after the lot has been assigned, material errors are discovered in the description of the lot or if the reserve amount contractually agreed upon with the bidder has been incorrectly entered. BFA is not liable for errors or omissions in the description of the works, nor for their authenticity and originality. No guarantee of authenticity is therefore given implicitly or explicitly with regard to the lots offered at auction, with the exclusion of numismatic items.
4. The successful bidder shall pay BFA an auction fee, for each lot, necessary to cover the expenses incurred by BFA for the organisation and conduct of the auction and as compensation for the services that BFA provides to the successful bidder in connection with the auction itself. Auction fees are payable under the same conditions and in the same manner as the adjudication price of the lot. Auction fees already include VAT (if any).
5. All bidders shall be required, in order for a potential adjudication to be valid, to complete a participation form with the required personal data and information prior to each auction. To be able to make purchases, it is necessary to possess the capacity to act as required by Czech law, i.e. to have reached the age of majority, which is obtained upon reaching the age of eighteen. Otherwise, any activity must be carried out through a parent or other person exercising parental authority or guardian.
6. BFA may accept mandates to purchase by bidding through the auctioneer in competition with the public participating in the auction. In the event of identical bids, the written bid shall prevail over the oral bid made in the room. In the event of identical bids for the same lot, the lot will be awarded to the bidder whose bid was received first. BFA reserves the right to reject bids from unknown purchasers unless a deposit is issued to cover the full value of the desired lots or, in any case, other adequate security is provided.
7. Upon awarding the lot, BFA may ask the successful bidder for his personal details and, in the event of payment not being made immediately and in cash, the successful bidder must provide BFA with adequate and in any case verifiable bank references: in the event of any evident untruthfulness or incompleteness of the above data, or in any case of inadequacy of the bank references, BFA reserves the right to cancel the contract for the sale of the lot awarded.
8. When BFA acts as an agent for the sellers, it declines all responsibility for the description of the objects contained in the catalogues, brochures and any other illustrative material; the above descriptions, as well as any other indications or illustrations, are purely indicative and shall not be relied upon by the successful bidders. All auctions are preceded by an exhibition in order to allow a thorough examination of the state of preservation, provenance, type and quality of the objects. After adjudication, neither BFA nor the sellers shall be liable for defects in the condition, misattribution, provenance, weight, measurements and lack of quality of the objects. Neither BFA nor BFA's appointed personnel shall be able to issue any guarantee in this respect, except in the cases provided for by law. This sale constitutes an aleatory contract and any warranty for eviction is therefore excluded. Therefore, in the event that the successful bidder suffers the total or partial eviction of the object of this sale, the same may not claim from BFA either compensation for the damages suffered, or restitution of the price paid and reimbursement of expenses. The warranty for eviction resulting from BFA's own fault remains unaffected. Furthermore, BFA is not liable to the successful bidder for any loss of profit or for any other indirect or consequential loss or damage resulting from BFA's breach of contract or from BFA's non-contractual and pre-contractual liability. BFA undertakes to supply the successful bidder with the goods that the latter has agreed to purchase, without prejudice to impediments due to force majeure or other causes beyond its reasonable control (such as, for example, strikes, theft, fire or other natural disasters, delays and cancellations of transport journeys) or other causes due to the will of third parties and not dependent on BFA (such as, for example, prohibitions on the sale, export or import imposed by Czech or foreign state authorities). BFA shall reimburse the sums received by the successful bidder for the purchase of the goods, with the exclusion of the costs for the transport of the goods, if any, for the insurance of the same and for customs and/or import taxes.
9. The estimates of the possible sale price of each lot are printed below the description of the lots in the catalogue and do not include the auction fees due to the successful bidder. These estimates are purely indicative. Lot descriptions in the catalogue may be subject to revision by means of communication to the public during the auction. BFA may accept pre-auction bids on lots offered for sale even below the reserve amount. If a lot receives no bids above or equal to the reserve amount, BFA submits the highest bid received at the pre-sale stage to the seller for approval. The seller's decision is communicated to the bidder within fifteen days of the auction date.
10. The total payment of the adjudication price and the auction fees must be made in full within ten days of the adjudication. If this does not occur, BFA, without prejudice to compensation for greater damages, may: a) proceed with the compulsory execution of the purchase obligation; b) sell the lot by private negotiation or at a subsequent auction to the detriment of the successful bidder, retaining any down payments received as a penalty. The object will be kept by BFA at the risk and expense of the successful bidder until it is sold as above or returned to the seller at the latter's request. In any case, until the date of the return or sale, the successful bidder will be obliged to pay BFA a penalty equal to 1% per month on the invoice amount; the interest thus calculated will be applied to the sums due from the 21st day following the date of the adjudication. Delivery of the awarded lot may only take place upon verification of the payment thereof.
11. The shipping of the sold goods is the responsibility of the buyer. If the buyer intends to use the shipping companies indicated by BFA, he or she shall contact them and request a quotation directly from said companies. The shipping terms and conditions (packaging, insurance, etc.) will therefore be defined directly between the buyer and the forwarding agent. BFA does not assume any liability regarding the shipment (theft, damage, etc.). BFA will only provide direct quotes for shipments of numismatic and philatelic goods and/or other goods that will be indicated by BFA in each case.
12. Notwithstanding any provision to the contrary contained herein, BFA reserves the right to agree with the successful bidders on special forms of payment, to deposit the awarded lots in private/public warehouses or to sell the lots privately, to settle disputes or claims made by or against the successful bidders, and in general to take any action deemed appropriate in order to collect sums owed by the successful bidder or even, depending on the circumstances, to cancel the sale pursuant to articles 13 and 15 and return the price to the successful bidder. Payment for the lots awarded shall be made no later than 7 days after the purchase invoice is sent to the email address provided by the successful bidder. Starting from the 21st day after the sending of the invoice, a penalty of 1% per month shall be charged on the outstanding invoice amount. Should the successful bidder fail to make the payment due on time and thus become insolvent, he/she expressly authorises BFA to cancel the sale, to offer the goods to third party possible buyers, to report his/her name on national and international Black Lists of bad payers, and to any operator or interested party upon request. The insolvent bidder may no longer participate in any future BFA sale.
13. Participants shall be informed in the course of the auction whether certain objects have been declared part of the national cultural heritage (or proposed for inclusion in the list of cultural heritage items) pursuant to the National Heritage Preservation Act (Act No. 20/1987 Coll., as amended). Objects belonging to the national cultural heritage may be exported abroad only with the permission of the competent authorities.  The sale and export of objects of cultural significance is regulated by Act No. 71/1994 Coll. on the sale and export of objects of cultural significance, as amended.  Objects of cultural significance may be exported outside the Czech Republic only with an official certificate stating that they have not been declared part of the national cultural heritage and that they are not part of a larger ensemble declared part of the national cultural heritage.  If the auctioned object is a collection (or an individual object that is part of a collection) registered in the Central Register of Museum Collections at the Czech Ministry of Culture, any alienation or transfer of the auctioned object is subject to the conditions set forth in Act No. 122/2000 Coll. on the Protection of Museum Collections. The successful bidders are obliged to comply with all applicable statutory or regulatory provisions on objects declared to be of particularly important historical or artistic interest. BFA assumes no liability towards the successful bidders with regard to any restrictions on the export of the awarded lots, nor with regard to any permits or certificates that the successful bidder must obtain under Czech law. In the event that the State exercises its right of first refusal, the successful bidder shall not be entitled to claim from BFA or the Seller any reimbursement of any interest on the price and auction fees already paid.
14. Successful bidders are required to provide BFA with a valid identity document and their Tax Identification Number.
15. The indications and descriptions in the catalogue are subjective opinions and are expressed in good faith.
16. BFA cannot accept cash payments for an amount exceeding € 10,000.00 (ten thousand/00).
17. Lots containing multiple items that are not illustrated are sold as seen and are not subject to return by the buyer.
18. These conditions of sale are tacitly accepted by all those participating in the auction and are available to any interested party who requests them.
19. Pursuant to Art. 6, par. 1(a) of Regulation 2016/679 of the European Parliament and of the Council on the protection of individuals with regard to the processing of personal data, we inform bidders that their personal data will be processed for (I) purposes functional to the fulfilment of tax, accounting and legal obligations and purposes of contract and customer management and (II) purposes related to commercial activity. The data will be processed, also through the creation and management of a central archive, with paper, computer and telematic supports to which specialised and authorised personnel have access. The provision of personal data essential for the fulfilment of legal obligations and/or the establishment and/or continuation of the contractual relationship is compulsory, in the sense that in the absence thereof it will be impossible to establish and/or continue such relationship. The provision of other personal data is optional and generally functional to provide a better service to customers; any refusal to provide such data will have no negative consequences for the participant. Personal data concerning the customer may be disclosed to parent, subsidiary and/or associated companies for the same purposes as above or to external service providers specialising in: (I) management of software, hardware, telematic and information systems; (II) data processing and archiving activities; (III) printing, transmission, enveloping, transport and sorting of communications to customers; (IV) financing, credit recovery and financial risk detection services. By electronically sending the confirmation of their purchase order, the participant acknowledges the above information and consents to the processing of the personal data provided.
20. All disputes relating to the application, performance, interpretation and breach of this purchase agreement shall be subject to Czech jurisdiction. Any dispute between the parties in connection with this contract shall be subject to the exclusive jurisdiction of the Court of Prague.