In order to participate in Telearte auctions, it is necessary to follow all the regulations provided.

1- These general conditions regulate the auction sale of antiques works of art, organized through various sales systems such as: its own premises, premises to be defined, televisions, or Internet sites open to the public, by TELEARTE SRL (henceforth Telearte or Seller), a Company in the antiques trade that acts on its own behalf in the management of auctions and therefore also plays the role of Seller.

2- The terms and conditions set forth below form an integral part of the contracts entered into between the and Buyer by agent (hereinafter the Lots) and apply to all transactions entered into between the Agent and Buyer, without the need for an express reference to them or a specific agreement to that effect at the conclusion of each individual transaction. Any different conditions or terms shall apply only if confirmed in writing by the Seller. The Seller reserves the right to amend, supplement, or vary the Conditions of Sale by attaching such variations to offers or to any correspondence sent in writing to the Buyer.

3- An exhibition of all the works for sale, prior to the auction, freely available to all interested parties, will be set up at the premises of Telearte Srl; in addition, the auction house will produce a printed catalog and an online version, published on the website teleartetv.it, including the list of works for sale. The purpose of the exhibition is to have the authenticity, provenance, type and quality of the objects examined and to clarify any errors or inaccuracies that may have occurred in the compilation of the catalog. These descriptions are intended as the product of the personal opinion of our experts. The person interested in the purchase of a lot therefore undertakes, before participating in the auction, to examine it thoroughly, possibly even with the advice of an expert or restorer of his choice, in order to ascertain all the above characteristics. After adjudication, no disputes are allowed in this regard, and neither Telearte nor the agent may be held responsible for defects in information concerning the auction items. Interested parties can ask Telearte experts for any and further opinions, photographic or digital materials. This condition report is not intended to be exhaustive and may not indicate any restoration or defect; it is not a substitute for direct examination by the likely buyer, given the subjective nature of the above evaluation by Telearte experts. No claims will be possible with regard to restorations, defects and errors incurred in the production of the catalog. Finally, in the catalog, each work has an auction base: this value represents the minimum sale price set by Telearte for the auctioned goods.

4- Participation in the auction is subject to registration, which consists of filling out the registration form – indicating the personal data of the interested party (personal details, tax code, VAT number, place of residence, domicile, telephone number) – and handing over a copy of one’s valid identification document and one’s tax code. If the person wished to register as a legal entity, he or she should attach a copy of the company’s Chamber of Commerce certificate. Such registration can be made at any time, either during the exhibition preceding the auction or before the sale session, and also online via the special registration section in the teleartetv.it portal. Telearte reserves the right to decide whether or not to accept an applicant’s participation in its auctions and, in particular, may deny participation to parties who have not punctually honored pecuniary obligations, including compensatory obligations, to Telearte.

5- Telearte has the right to withdraw from the auction, at any time, any property placed on sale. If the asset is submitted for auction and the bids received do not reach the reserve price set by Telearte, that asset will be considered unsold and, therefore, withdrawn from the auction. The choice regarding the mode of sale rests with Telearte, in the person of the sales director, who has the power to match, divide and vary the order of the lots offered for sale. The director of sales may accept bids from the public in the hall, written bids left at the counter prior to the start of the auction, online bids, and telephone bids, which will be accepted only after registration of the buyer and transmitted to the auctioneer at the bidder’s risk. Telephone connections are planned and provided by Telearte free of charge. No claims will be accepted in connection with written, telephone, or live received bids that are not recorded for any reason or for errors related to their execution.

6- The awarding of the works offered for sale shall be made to the highest bidder and shall be signaled by the director of sales with a hammer blow, which shall determine the moment when the contract of sale is concluded. It is stipulated that: – in the case of two written bids of equal amount, the prevailing bid shall be the one received first; – in the case of one written bid and one bid from the public in the hall, of equal amount, the prevailing bid shall be the one received from the public in the hall; – in the case of one written bid and one bid by telephone of equal amount, the prevailing bid shall be the one received by telephone. The auctioneer may accept proposals to purchase the works put up for auction and consequently bid for third parties.

7- To the amount constituting the adjudication price, the buyer shall add the amount of 28% VAT included, as an auction commission, in favor of the auctioneer.

8- Upon adjudication, the purchaser will be required to sign an adjudication report, indicating the lot awarded and the hammer price. The transfer of ownership of the lot from the seller to the buyer, will occur only upon payment by the buyer of the amount due. The successful bidder, having paid the price and auction fees in full, shall collect the lots purchased, at his own care, risk and expense, within 7 (seven) days of the award. Upon agreement with the successful bidder, Telearte may arrange, at the cost and risk of the successful bidder, for packing, transportation and insurance for the shipment of the lot. In this case, the successful bidder waives all claims and/or actions against Telearte for any delays by the courier in delivering the shipment. For any information, it will be possible to contact Customer Service at 06.87911980 from Monday to Friday from 9:00 am to 4:00 pm and on Saturdays from 9:00 am to 1:00 pm. Taxes, duties, shipping, insurance, installation, after-sales service, are not included in the award price, and are the responsibility of the Buyer.

9- Payment for the lots may be made by bank draft, credit card, debit card, cash (within the limits set forth in anti-money laundering regulations), bank transfer and bank check (in the latter two cases, the payment and therefore the transfer of ownership of the property from the seller to the buyer shall be deemed to have been made only upon the actual registration of the crediting of the full amount to Telearte’s account).

10- In the case of first-time purchasers who are successful bidders and who wish to pay by check and/or by bank transfer, transfer of ownership of the lot will take place only upon successful completion of payment. In such case, the awarded goods shall be collected at the buyer’s care, expense and risk, within 10 (ten) days after receipt of the aforementioned payment. After this deadline, Telearte will be released from any liability to the successful bidder for the safekeeping of the asset and may charge a fee of €5.00 (five) per day for storage at its premises.

11- In the event of non-payment of the amounts due as a result of the award, protracted for more than 15 (fifteen) days, Telearte may alternatively and at its sole discretion: – terminate the sale, giving written notice pursuant to art.1456 c.c, without prejudice to Telearte’s right to protect itself in the competent venues and with the appropriate actions against the defaulting successful bidder; – proceed to obtain the enforcement of the obligation to purchase and payment; – sell the lot by private treaty, to the detriment of the successful bidder; – sell the lot by auction to the detriment of the successful bidder. In any case, the works will be kept by Telearte at the risk and expense of the successful bidder until they are sold to a third party.

12- In the event that the item is destined to be exported the buyer will be responsible to the authorities to obtain any licenses, authorizations and/or permits for that purpose. In any case, payment for purchases must be made on time, and denial of an export permit may not be invoked as grounds for cancellation of the purchase, let alone justify non-payment for the lot in question. Should the state exercise its right of first refusal, the buyer may not claim any refund for the amounts paid. In case a lot contains materials belonging to protected species of the type: coral, ivory, turtle, crocodile, whalebone, rhinoceros horn, etc., an export license (CITES) issued by the Ministry of Environment and Territory Protection is required, and buyers are obliged to comply with all relevant legal provisions.

13- These general conditions of sale, governed exclusively by Italian law, are automatically and fully accepted by all parties participating in the sale procedure. Italian criminal law protects the freedom of tenders and punishes the disruption of tenders including through fictitious bids. For any dispute arising in connection with the application, interpretation and execution of these general conditions of sale, the Court of Rome shall have exclusive jurisdiction.

14- Any communication concerning the sale, must be made by registered letter with return receipt addressed to: Telearte Srl, Via Sebastiano Ziani 54 – 00136 Rome.

15- The purchaser declares to have received the information referred to in Art.13 of Leg. 196/2003 n.196 (Code regarding the protection of personal data), in particular with regard to the rights recognized ex art.7 of Leg. 196/2003 n.196, and declares that he gives his express consent, pursuant to art.23 of Leg. 196/2003 n.196, to the processing of their personal data in the manner and for the purposes indicated in the notice itself, however, strictly related and instrumental to the management of participation in the auction and the auction relationship. Please note that the data controller is Telearte to whom you can address instances and requests related to the processing of data.

Pursuant to and in accordance with Articles 1341 and 1342 of the Civil Code, Buyer specifically approves the following provisions: 2-3-4-5-6-7-8-9-10-11-12-13-14-15.