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.
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 are 20% up to € 100,000, 16% above € 100,000 and up to € 500,000, and 13% above € 500,000, all in addition to the VAT 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.