How to sell
Selling an object with Viscontea Casa d'Aste is simple, just ask for an estimate and one of our experts will reply shortly
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GENERAL CONDITIONS OF SALE
At the headquarters of the Auction House you can get a free evaluation of the objects you want to put up for sale. Our experts will provide an indicative estimate value.
2. Terms of the mandate to sell
The Auction House acts as an agent on behalf of the Seller, a natural person or company of any kind, who entrusts it with the sale of objects and goods it owns. The Seller authorizes the Auction House to sell its goods, by auction with auctioneer or timed auction, both in a single lot and separately, by private treaty or through different channels, possibly also entrusting them to third-party companies, which collaborate with Viscontea Casa d'Aste S.r.l, under the conditions of sale and for the number of times that the Auction House deems most appropriate. The Auction House reserves the right to withdraw any lot from the auction before it has begun.
Upon delivery of the items, a document (mandate to sell) will be issued with the list of all the items offered for sale, the reserve prices, the commission and any costs for insurance, photos and transport. The mandate to sell is valid for one year. The conditions of sale are considered accepted by the Seller with the signature of the mandate. An identity document and the tax code must also be provided for annotation on the Business Journals-Registers of P.S. conserved at the offices of the Auction House. The mandate to sell is with representation and therefore the Auction House does not replace the principal in relations with third parties.
The Seller who, in bad faith, offers for sale at auction works of already proven forgery and/or counterfeiting, in addition to being liable for his own behaviour, will be subject to the payment of auction commissions in the amount of the percentage indicated on the mandate to sell, as well as the auction fees, both to be calculated on the accepted and subscribed reserve price. The Auction House will take the necessary measures and will also have the right to request compensation for any damage to image caused.
3. Reserve price
The reserve price is the minimum amount gross of commissions to which the entrusted object can be sold. This amount is strictly confidential and will be protected by the Auctioneer at the auction. If this amount is not reached, the lot will be considered unsold.
The remuneration due by the principal to Viscontea Casa d'Aste is equal to .......% of the hammer price for lots with reserve below € 1000.00, equal to .......% of the hammer price for lots with reserve equal to or more than € 1000.00.
To this amount, deducted from the proceeds, further expenses such as transport, illustration and insurance may be added, as indicated on the mandate to sell.
5. Rights below
The authors of works and their heirs, for the entire life of the artist and for seventy years after his death, are entitled to a fee, called "resale right", on the price of each sale subsequent to the first and of an amount equal to or greater than € 3,000.00, of the original work, as introduced by Legislative Decree no. lgs. 118 of 13.2.2006.
The fee is paid by the seller, and Viscontea Casa d'Aste is required to pay the "resale right" to SIAE on its behalf, deducting it, together with the commissions, from the amount due to the principal for the lots sold.
It is calculated on the sale price, net of tax, on a differentiated percentage basis in relation to the different brackets:
- 4% for the part of the sale price up to € 50,000.00;
- 3% for the part of the sale price between € 50,000.01 and € 200,000.00;
- 1% for the part of the sale price between € 200,000.01 and € 350,000.00;
- 0.5% for the part of the sale price between € 350,000.01 and € 500,000.00;
- 0.25% for the part of the sale price higher than € 500,000.00;
The total amount of the remuneration cannot in any case exceed € 12,500.00.
6. Liquidation of the proceeds
The payment of the hammer price, after deduction of the amounts referred to in points 4 and 5, will be made to the principal after 45 (fortyfive) days from the date of the sale and in any case once the collection operations have been completed and provided that no objections have arisen from the 'buyer tending to terminate or cancel the sale. In the event that the buyer resides abroad and the awarded object must be exported, the payment will take place once all the authorizations required by customs, currency and historical heritage protection have been obtained.
7. Unsold items
The Auction House must notify the Seller, within 20 (twenty) days of the closure of each auction, of the list of sold and unsold Goods. For each of the unsold Goods, the Seller must notify the Auction House in writing within 30 (thirty) days whether to withdraw the unsold lots or to re-propose them at a subsequent auction, agreeing on a lowering of the Reserve price compared to the established one at the time of signing the mandate to sell. The Auction House will be entitled to sell the lots also by private treaty or through the channels it deems most appropriate. If no agreement is reached, the Seller must collect the lot within 30 (thirty) days.
After 30 (thirty) days from the date of the auction, in the event that the lots have not been collected or arrangements have not been made to resubmit them at auction, the reserves will automatically undergo a reduction equal to 50% of the amount indicated on the mandate to sell.
The above will be applied to all subsequent auctions in which the lots will take part.
After n. 6 (six) months the Auction House, if it deems it necessary, will arrange for the storage of the lots at the expense of the Seller, with possible transport to third-party warehouses, and will return these lots only after payment of the costs of storage, transport and any other costs incurred, as well as any other sum due to the Auction House. In the event of a sale, the Auction House will withhold from the allotment price of the Lots all amounts owed by the Seller for any reason and the latter may only ask the Auction House for any remaining amount. Upon expiry of the mandate to sell, unless otherwise agreed with the Auction House, the Auction House's responsibility for the custody of the Lots will end, as will the insurance coverage on the Lots, and the Auction House will consider itself authorized to manage whatever is left in storage at its discretion, with no more duty to the Seller, who undertakes not to raise any dispute, also undertaking to indemnify and hold the Auction House harmless from any liability in this sense, also with reference to any type of complaint made by any third party.
8. Revocation of the mandate
If the Seller requests the Auction House to collect the sale of one or more Lots and the Auction House accepts, the Seller will still be required to pay the Auction House a sum equal to the fees and commissions, both calculated on the Reserve price indicated on the sales mandate and to reimburse all expenses incurred in executing the sales mandate.
The exclusive jurisdiction of the Court of Milan is established for any dispute.