HOW TO TAKE PART IN THE AUCTION
Participating in an auction, whether to buy or to sell, is easier than you might think, even if you have never participated before.
The participation and the bids for the lots can be made directly in the auction room, on the day fixed at the indicated place where the auction will be held.If you are unable to attend that day or prefer not to participate in person, you can participate online at the Live Auction, by phone where you will be contacted by the staff on the day of the auction or you can leave a simple written offer (by mail) by filling out the appropriate paper form or by making a pre-bid online.
The staff of FaraoneCasa d’Aste will be pleased to assist you with anything you might need to illustrate in detail the various methods of participation detailed below and to help you fill out the necessary forms.
REGISTRATIONBIDS
Registration
The participation to the auction, through any of the methods expressly indicated below, is subordinate to the registration of the participant, carried out by filling out the PARTICIPATION CARD for the participation in the auction room or the BIDDING CARD to make a bid by mail or by telephone, or by registering on our website at MY FARAONE, attaching a copy of a valid identity document.
For the validation of the registration, FaraoneCasa d’Astereserves the right, at its own discretion, to ask the participant to release suitable guarantees before the auction, in order to allow the participant to formulate the bids.
Offer
The goods shall be awarded to the highest bidder, regardless of the method of participation, by means of a special declaration by the Auctioneer, which shall constitute acceptance of the bid made by the participant in the auction.
The starting auction bid is at the sole discretion of the Auctioneer. The starting bid will be at the sole discretion of the Auctioneer, but the Auctioneer shall have total discretion to adhere to this rule and accept or reject bids.
Auction Fees
Auction fees are 26% up to € 100,000, 20% above € 100,000 and up to € 500,000, and 16% above € 500,000, all VAT included provided for by the regulations in force. Any further charge or tax relating to the purchase will in any case be borne by the successful bidder.
Awarding and Deposit
The auction price is the figure at which the lot is awarded.
If the successful bidder is present in the auction room, before leaving the room he must go to the registration desk to sign the award report necessary to collect the goods, indicating the awarded lot and the amount of the winning bid, and pay a deposit of at least 20% of the winningbid and the auction fees, as well as to return the paddle.
The successful bidder who did not attend the auction room, after the awarding, will be charged a deposit of 20% of the winning bid, if prior authorisation has been given.
Lot delivery and payment
The lot or lots must be collected within 15 (fifteen) days from the awarding, at the headquarters of Faraone Casa d’Aste in Via Monte Napoleone 9, Milan, upon payment of the balance at which the lot was awarded by the Auctioneer in addition to the auction fees.
Faraone Casa D’Aste is available to organize the transport to the buyer’s domicile, whose charges and responsibilities will be at the buyer’s total expense.
PHYSICAL PARTICIPATION
The physical participation to the Auction is subject to the prior registration of the participant, by filling out the appropriate PARTICIPATION FORM or by registering on MY FARAONE, attaching a copy of a valid identity document.
The paper copy of the participation form, if not filled in online, can be delivered before the auction at the headquarters of Faraone Casa d’Aste in via Monte Napoleone 9, Milan, or on the same day of the auction before entering the auction room, at the location indicated where the auction will be held.
In order to participate in the auction room, regardless of when and how you registered, you will need to ask the staff for the special “paddle” indicating your identification number.
Bidding in the auction room must be done by raising the paddle.
PARTICIPATION VIA MAIL
For participation by mail, the participant must sign and deliver to Faraone Casa D’Aste the BID SHEET or must register on MY FARAONE, by the day before the auction, attaching a copy of a valid identity document.
In the bidding form, in addition to your personal data, you must indicate the lot number and its description as well as the maximum bid for that single lot.
If the price at which the lot is awarded is lower than the maximum price indicated in the form, the award is made at that lower price.
The column telephone participation “Part. Tel.” column should not be completed.
New clients must come in person to sign the form at our offices in Milan, Via Montenapoleone, 9, and pay a deposit as guarantee if required, while for subsequent auctions it is sufficient to deliver the original of the completed form, or to register via the website.
PARTICIPATION BY TELEPHONE
For the participation through telephone connection, the participant must sign and deliver to Faraone Casa D’Aste the OFFER CARD or must register on our website at MY FARAONE, by the day before the auction, attaching a copy of a valid identity document.
In the form, in addition to your personal data, you will have to mark with an X the “Part. Tel.” and the number of the lot and its description must be indicated. Telephone bidding involves the obligation to purchase at the starting price.
Faraone will contact you during the auction at the telephone number provided, about 5 minutes before the one for which you have asked to participate. The starting bid is that of the auctioneer, your bids will be communicated to our staff who will transmit them to the auctioneer on your behalf and who will in turn communicate you the bids of the other participants.
If it has not been possible to contact you by phone, for any reason, or the phone line is disturbed, the bid on your behalf will be madeat the starting price.
PARTICIPATION TO THE “LIVE AUCTION”
Participation to the auction can also take place via online bidding in real time through your computer connected to a network.
Participation to the Live Auction is subject to the prior registration of the participant to our website at MY FARAONE, by the day before the auction, attaching a copy of a valid identity document and providing the appropriate guarantees if you intend to participate in order to acquire one or more lots for a total amount higher than €10,000, by contacting us to agree on the modalities.
There will be some lots specifically marked for which there will be no possibility to participate through the l’ASTA LIVE, vi preghiamo di verificarlo prima di ogni asta, sul catalogo.
La registrazione da l’accesso allo streaming in cui si potrà vedere in tempo reale quanto svolto dal battitore e fare le offerte direttamente on line in tempo reale dal proprio computer come meglio indicato nell’apposita sezione LIVE AUCTION.
PARTICIPATION TO THE “TIMED AUCTION”
Faraone Auction House will regularly (usually every one or two months) offer Timed Auctions or virtual auctions, whose participation can be done exclusively on line through access to the web site www.faraonecasadaste.it, after registering to the MY FARAONE section. These will take place without the presence of an auctioneer during the sale, as the awarding process will be done automatically to the highest bidder.
It is defined as “timed” simply because the possibility of bidding is limited to a pre-established duration, during which it will be possible, at any time, to make a maximum bid for a single lot. The auction will automatically start from a minimum price and the bids will automatically increase only by the amount needed to remain the highest bidder, within the limits of the specified maximum bid. For technical details on how to participate, please refer to the appropriate TIMED AUCTION section.
Following the awarding of a lot, the successful bidder will receive by email the necessary information for the balance of their purchases and the procedures for collecting the lots at the Milan offices, Via Montenapoleone,9. Upon request and at the expense of the buyer, Faraone Casa d’Aste can organize home delivery by specialized courier.
The auction fees are the same as those of the hall auction, as indicated above.
Our online timed auctions are not subject to the Right of Withdrawal (Art.15 D.Lgs n.185 of 22/05/99), as they are preceded by the display of the lots, which can be viewed before bidding, at our premises in Milan, Via Montenapoleone 9. Contacts
The above is only an excerpt from the GENERAL TERMS OF SALE to be referred to in legal terms, which we kindly ask you to read carefully before participating in the auction.