Under each caption are the valuations of the work expressed in euro excluding auction fees; they are intended as an indicative estimate for buyers. The offer between the minimum and maximum price is an interesting purchase. However, an auction can lead to a lot being awarded at a price below the minimum or above the maximum estimate.
Basic auction price
It coincides with the starting amount, which is generally about 50% of the evaluation. It is up to the auctioneer to vary the basic price, however, thus changing the errors in which you had incurred in the drafting of the catalog.
The reserve price
is the minimum price agreed between the Auction House and the seller below which the lot cannot be sold. This amount is confidential and will be protected during the auction by means of special raises made by the auctioneer.
In addition, the Peace Gallery, has the right to waive, in whole or in part, his fee, reducing its sales commission.
The sales manager may accept commissions for the purchase of lots put up for auction, at prices determined by a specific mandate.
Selling to Galleria Pace
A commission generally of 20% VAT included must be paid by the seller on the sale price of the lots sold, including the DDS: right below Legislative Decree no. 118 of 13|02|2006. The payment of the proceeds of the auction will be settled, net of rights and any expenses, about 40 days after the sale, and the actual collection S.B.F. provided that there have been no claims relating to the goods. The unsold goods will be made available to the client within 30 days of the auction, unless a reduction in the minimum reserve prices is agreed with Galleria Pace and the necessary time is allowed to make other attempts at sale, including by private treaty.
In order to make the purchase at auction more accessible to collectors and dealers, it is possible to make a form of installment payment that must be agreed in advance no later than three days before the sale.
For the reading of catalogues
Measurements are to be understood in this order: height, width and depth. Under the heading "Origin" are listed the stamps and labels of the Galleries and collections applied to the back of the paintings.
Conditions of sale
- Sales are made to the highest bidder and in cash.
- The auction will be preceded by an exhibition of the items, during which the sales manager will be available for any clarification. The purpose of the exhibition is to enable the quality of the objects to be examined and to reveal errors or inaccuracies in the compilation of the catalogue. Disputes in this respect are no longer admissible after the award has been made.
- The works offered for sale shall be authentic and accurately attributed. For any dispute in this regard to be decided between a consultant of Galleria Pace and an expert of equal qualification designated by the customer, may be asserted no later than 15 days from the award, also Galleria Pace Srl assumes no other responsibility than that arising from his status as agent with representation pursuant to art. 1704 et seq. cc.
- A claim recognised as valid leads to the simple reimbursement of the sum exactly paid, to the exclusion of any other claim. After the expiry of the above period, the Galleria Pace shall cease to be liable.
- Galleria Pace acts as agent for those who have entrusted it with the task of selling the objects offered at auction, therefore it is obliged to respect the reserve limits imposed by the principals even if not known to the participants in the auction; they cannot assume obligations other than those arising from the mandate.
- The sales manager may accept purchase commissions on the works at prices determined by a specific mandate.
- To the award figure should be added 23% VAT included, as the auction fee.
- The works shall be awarded by the director of the sale; in the event of a dispute over the award of the object, the auctioneer may resume the auction on the basis of the tender previously made.
- The Buyer must pay a deposit at the time of the award and complete the payment within the next 48 hours.
- Items sold must be collected no later than 48 hours from the day of sale. In the event of default, the buyer will lose the deposit and the item will remain with the owner.
- Once the payment has been made, at the request of the purchaser, Galleria Pace may provide the following services:
- of packaging at a cost of Euro 30 for each package;
- shipment of the lots, at the risk of the successful bidder with costs to be borne by the consignee (pursuant to Art. 1737 et seq. of the Civil Code),on request, the items sent can be insured with costs to be borne by the consignee. In the case of works|objects of large dimensions or weight, agreements will be made from time to time.
- During the competition, the sales manager has the right to combine or separate the lots and possibly to change the sales order.
- For items subject to State Notification, pursuant to art. 2, 3 and 5 of Law 1 - 6 - 39, n. 1089, buyers are required to comply with all applicable legislation.
These regulations are automatically accepted by those who participate in this auction. For each dispute the competence of the Court of Milan is established.
Sales director and auctioneer:
expert and art expert (CTU) of Italian and foreign courts
For your bank transfers:
Galleria Pace S.r.l.
Cod. Univoco: BA6ET11
Ag. Via Verdi 7, Milan
Iban IT 89 R 02008 01733 000040537034
BIC SWIFT Code: UNCRITM1M60