Christ Child XVII century

TERMS AND CONDITION OF SALE

Aquila Casa d'Aste S.r.l.s., with registered office in L'Aquila, Corso Vittorio Emanuele II n. 9, P. I. 02080730662, acts as exclusive agent for the sale of lots, at auction or by private negotiation, on behalf of each owner of the lots. The sale of the Lots must be considered as having taken place directly between the Seller and who, among the subjects that have submitted offers for the purchase of one or more Lots, has submitted the best bid for the purchase of each of the Lots. It follows that the Auction House does not assume any liability to the Tenderers and/ or the Buyer.

CHANGES AND RESERVE PRICE

The Auction House reserves the right to cancel or suspend the auction in case of participation of less than 10 (ten) competitors in the hall, as well as to withdraw from the auction one or more Lots, at its absolute and unquestionable discretion and without notice; In this case, the Lots will not be awarded by the Tenderers. During the auction, the auctioneer of the Auction House, at his absolute and unquestionable discretion, may decide the auction price of the Lots, vary the order of sale of the Lots, match and/ or separate the Lots. The Auction House may not award and/or collect from the auction the Lots for which the best bid among those of the Bidders has not reached the minimum reserve price agreed with the Seller; in this case the Lots shall be deemed not to have been awarded to the Tenderers.

OFFERS AND PRICE

Each of the Bidders, with the formulation of its bid to purchase the Lots, in case of acceptance and award, is obliged to buy the Lots and to correspond to the Auction House, for each of the Lots awarded, the total amount equal to the sum of the amount offered for the purchase of the Lots awarded, in addition to the Fees, in addition to any costs, in addition to the additional costs provided for therein and any legal obligations.

AWARD

The Lots will be awarded to the highest Bidder. The Bidders declare to have examined and taken full view of the Lots and to accept unconditionally the possible award, regardless of the description of the Lots on the auction catalogue. The auctioneer declares the raises and awards the Lots and declares the Buyer of each of the Lots at the end of the relevant auction and on the basis of the purchase bids received. Should any dispute arise in the course of the auction concerning the identity or identification of the Buyer, the auctioneer may, at his absolute and unquestionable discretion, return the Lots to the auction and proceed for a new award, or resume from the previous offer.

AUCTION RIGHTS

The succesful bidder, for each of the Lots awarded, undertakes to pay to the Auction House the commission for the auction rights to be determined as follows:

- from € 0.00 to € 20000,00   28%

- from € 20000,01 to € 100000,00     25%

- over € 100000,01     23 %

PAYMENTS

The Total Price must be paid by the Buyer to the Auction House within the mandatory period of no. 20 (twenty) days following the auction, as it follows:

(a) in cash, up to the total amount of Euro 1,999.99 or the other amount required by law;

(b) by credit cards (circuits accepted by the Auction House), with any related expenses and/or commissions charged to the Buyer;

(c) on express acceptance of the Auction House, by bank transfer or non-transferable bank and/or cashier’s cheques, payable to the same.

Only after the full payment of the Total Price the property and the possession of the Lots will pass to the Buyer, except in the case of disputes.

DATA

In order to participate in the auction, the Bidders must first fill in and sign a form of participation (c.d. offer form), in which, in addition to the amount offered for the purchase of one or more lots, the relevant personal data and bank references are also indicated. These data are processed in accordance with the current legislation on the protection of privacy of personal data (c.d. Privacy), as per the specific information issued by the Auction House. The Auction House reserves the right to refuse bids from persons not previously registered and/or identified, or who have not submitted adequate bank references. By subscribing to the same offer form, the Offerors are also obliged to accept these conditions of sale in full and unconditionally.

COMPETITION

The Auction House may make bids on its own and/or accept mandates for the purchase of certain lots by its customers; in this case, the auctioneer will make bids and/or bids in auction, based on the instructions received. In the case of offers of the same amount, the offer communicated by the auctioneer shall prevail over that of the bidder in the room, by telephone or internet.

ACCOUNTABILITY

The Auction House acts as an agent with the Seller’s representative and is exempt from any liability with regard to the origin and description of the Lots in catalogues, brochures and any other illustrative material; such descriptions, as well as any other indication or illustration, must be considered purely indicative and not binding, and may not give rise to any kind of reliance on the Offerors and the Purchaser. All the auctions are preceded by the exposition of the Lots, in order to allow a careful and in-depth examination of the authenticity, the state of conservation, the origin, the type and the quality of the same, on which exclusively the Offerors and the Purchaser assume all risks and responsibilities, including for the effects referred to in art. 1488, c. 2, c.c. After the award, neither the Auction House nor the Sellers may be held liable for any defects in the Lots, relating inter alia to the state of preservation, incorrect attribution, authenticity, provenance, weight or lack of quality of the Lots. To this end, the Offerors and the Purchaser expressly waive the guarantee referred to in art. 1490 c.c., freeing the Auction House from any relative responsibility; for the effect, neither the Auction House nor its staff will be able to issue any valid guarantee in this regard. In case of participation in the auction by telephone from the Bidders, the latter exempt the Auction House from any liability in case of any technical or other problems that may not allow their full participation in the auction (by way of example, in case of interruptions of communication, line problems, unavailability - for any cause - of the Tenderers) and assume all risks about the possible failure to award one or more Lots.

ESTIMATES

The estimates of each of the Lots, expressed in Euro, are indicated below the description of the Lots in the auction catalogue and do not include the commissions and other charges due by the Buyer under these conditions of sale. Such estimates may be subject to revision at any time, therefore the Lots may be offered at a base auction price different from that indicated in the catalogue. The descriptions of the lots in the catalogue may also be subject to revisions, which may be communicated during the auction.

DELAYS

In the event that the Buyer does not pay the Total Price within the essential period of no. 20 (twenty) days from the award, the Auction House may resolve the award and/ or sale of the corresponding Lots, pursuant to and for the effects referred to in art. 1456 BC. In this case, the Auction House will still be entitled to the payment by the Buyer, as a penalty, the amount equal to the sum of the Rights and 18% of the allotment price of each of the Lots awarded by the Buyer and not paid, beyond the possible greater damage, and may still retain any advances paid by the Buyer. Without prejudice to the above, until possible resolution, beyond the aforementioned deadline, the Lots awarded by the Buyer and not yet withdrawn will be kept by the Auction House (at its own warehouses or third parties), at the risk and expense of the Buyer, until the latter provides for the full payment of what is due to the Auction House and the collection of lots.

DECLARATION OF CULTURAL INTEREST, PRIORITY AND EXPORT

The Purchasers will be held, among other things, for the objects of the Lots submitted to the procedure of declaration of cultural interest (c.d. notification) pursuant to art. 13 and ss. D.Lgs. n. 42/2004 to the observance of all the dispositions of which to the Code of the Cultural Assets and every other normative applicable also in customs, currency and fiscal matter. In any case, the sale will remain valid and binding in case of refusal of the export licence, including the obligation to pay the Total Price within the terms provided. It is the exclusive responsibility of the Purchaser to verify any restrictions on the export of the Lots awarded or any licences or certificates required by law (issued or to be issued), with express exemption of any obligation and/ or responsibility at the head of the Auction House. In case of exercise of the right of pre-emption pursuant to art. 60 and ss. D.Lgs. n. 42/2004, or compulsory purchase pursuant to art. 70 of the same law, the Buyer may not claim anything, in any capacity, from the Auction House and/ or the Seller, if not only the refund of any amounts already paid due to the award of the lots and at the time of payment by the Administration.

DISPUTES

In case of disputes by the Purchaser concerning the counterfeiting or falsification or substantive defects not manifest of the Lots awarded (or parts thereof), received by the Auction House within the essential period of n. 30 (thirty) days from the date of award and deemed founded by the Auction House, the latter may, in its sole discretion, cancel the sale of the Lots in question, or reveal to the Contractor who requests it the name of the Seller, giving notice to the latter. In any case, in the presence of disputes by the Buyer, the Auction House will inform the Seller. The Buyer expressly releases the Auction House from any liability regarding the authenticity, defects and characteristics of the Lots and waives any claim, in any capacity, against the Auction House, and will address any request (including compensation) directly and exclusively to the Seller. It is without prejudice to the right to withhold any amounts paid by the Purchaser at any time, for whatever reason, before the dispute; these amounts may be the subject of a claim by the Purchaser against the Vendor.

AUCTIONS OF BOOKS AND/OR PAINTINGS

By way of derogation from the provisions of the previous Article:

(a) as regards lots containing books and/or other printed goods, any disputes relating to: damage to the binding, and/or stains are excluded, and/or holes of woodworm, and/or trimmed papers or tables and/or any other defect which does not affect the completeness of the text and/or of the illustrative apparatus; and lack of table indexes, and/or blank sheets, and/or insertions, and/or supplements and appendices subsequent to the publication of the work; any disputes concerning Lots containing books not described in the catalogue are also excluded;

(b) in the case of lots sold in auctions of paintings, paintings, prints and the like, any dispute concerning frames is excluded.

Any risk and danger in this regard is exclusively borne by the Buyer.

THIRD PARTIES

In the event that the Auction House becomes aware of any claim or right of third parties relating to the ownership, possession or possession of one or more Lots, the same may, in its sole discretion, to withdraw these Lots from the sale and/or to keep in custody these Lots, proceeding with the necessary checks and/or the settlement of any dispute arising.

ACCEPTANCE AND JURISDICTION

These conditions of sale are fully accepted, without any reservation, by the Bidders, the Buyer and by those who compete for the auction. These conditions of sale are governed by Italian law.