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1.

SALE

Libreria Antiquaria Gonnelli S.r.l., with headquarters

in Florence , in Piazza Massimo D’Azeglio n. 13, p. IVA e C.F.

00520660481 (“Casa d’Aste”), trademark holder «Gonnelli Casa

d’Aste», acts as exclusive agent for the sale of many goods (“Lots”),

by private negotiation, on behalf of each Lot owner (“Seller”). The

sale of the Lots must be considered intervened directly between the

Seller and he, among the subjects, who has submitted offers for the

purchase of one or more Lots (“Bidders ”), and has submitted the

best offer for the purchase of each of the Lots and is declared the

successful bidder (“Purchaser ”); it follows that the Auction House

does not assume any responsibility towards the Bidders and / or

the Buyer.

2.

VARIATIONS AND RESERVE PRICE

– The Auction House

reserves the right to withdraw one or more Lots from the auction,

at its absolute and unquestionable discretion and without any

prior notice; in this case the Lots will however be considered not

awarded by the Bidders. During the auction the auctioneer of the

Auction House (“Auctioneer”), at his absolute and unquestionable

discretion, can decide the price based on auction of the Lots,

change the order of sale of the Lots, match and / or separate Lots,

and formulate raises. The Auction House may not proceed with the

awarding and / or withdrawing from the auction the Lots for which

the best offer among those of the Bidders has not reached the

minimum reserve price agreed with the Seller (“Reserve Price”);

in this case the Lots will however be considered not awarded by the

Bidders.

3.

OFFERS AND PRICE

– Each of the Bidders, with the formulation

of their purchase offer of the Lots, in the case of acceptance and

adjudication, undertakes to purchase the Lots and to pay the sum to

the Auction House for each of the Lots awarded (“Total Price”) In

total equal to the sum of the amount offered for the purchase of the

Lots awarded, in addition to the rights referred to in § 5 below, in

addition to any expenses referred to in § 6, lett. (b), in addition to the

additional expenses specified therein and any legal charges. Written

offers (even via internet) will only be valid if they are complete in

their entirety and received by the Auction House at least 24 hours

before the auction starts. The telephone participations will be valid

only if confirmed in writing at least 24 hours before the start of the

auction . Except in the case of disputes, in any case the sale of the

Lots will be considered concluded only after the full payment of the

Total Price in favor of the Auction House.

4.

AJUDICATION

– Lots will be awarded and sold to the best

bidder at the most convenient price permitted by other offers on

the same Lots and registered reserves; in the case of offers of the

same amount, the one received first will prevail (except as provided

in § 8). The Bidders declare to have examined and taken full view

of the Lots and to unconditionally accept the possible award, even

regardless of the description of the Lots in the auction catalogue.

For the purposes of the awarding of the Lots, the minimum bids of

the offers will be communicated by the Auctioneer. The Auctioneer

awards the Lots and declares the Purchaser of each of the Lots

at the conclusion of the relevant auction and on the basis of the

purchase offers received. If during the course of the auction any

dispute arises over the identification of the Buyer, the Auctioneer

may, at its absolute and unquestionable discretion, return the Lots

to the auction and proceed for a new award, or reconsider the bid

from the previous offer.

5.

AUCTION RIGHTS

– The Winner, for each of the Lots

awarded, is obliged to pay the Auction House the commission for

the auction rights (“Rights”) to be determined (VAT included): a)

in the percentage of 25% of the hammer price Lots awarded up to €

100,000.00; b) in the percentage of 22% on the amount exceeding

€ 100,000.00 of the hammer price. In the case of an online auction

through platforms other than GonnelliLive, the above rights will be

increased by a further 3% on the hammer price.

S

ale conditions

6. 

PAYMENTS

– The Total Price must be paid by the Purchaser to

the Auction House within the essential deadline of n. 7 (seven) days

after the auction (in case of delay the provisions of the following

§ 11) will be applied, in Euro and in a single solution, using the

following methods:

(a)

in cash, up to the total amount of € 3,000.00, or the different

amount required by law ;

(b)

by credit cards (circuits accepted by the Auction House), with

additional charges (equal to 1.50% of the Total Price) charged to

the Purchaser;

(c)

only expressly upon acceptance of the Auction House, by bank

transfer to the account indicated by the same, or bank or non-

bankable bank drafts, payable to Libreria Antiquaria Gonnelli

S.r.l. (except for the good outcome of the credit): IBAN: IT 81 Y

03268 02800 052886559670 - SWIFT: SELBIT2B

The Auction House will only be responsible for paying the Awardee,

subject to any prior written notice by the Bidder to participate in

the name and on behalf of third parties.

Only as a result of the full payment of the Total Price the ownership

and possession of the Lots will pass to the Purchaser, except as

provided in § 14.

7. 

DATA

– For the purposes of participation in the auction, the

Bidders must first fill out and sign a participation form (the

offer form), in which, in addition to the amount offered for

the purchase of one or more Lots, the related personal data

and bank references are also indicated. This data is processed

in compliance with the current legislation on the protection

of the privacy of personal data (so-called Privacy), as per the

specific information released by the Auction House. The

Auction House reserves the right to refuse offers from persons

not previously registered and / or identified, or who have not

submitted adequate bank references. In the event of an award,

the data indicated in the offer form will be shown in the invoice

header and cannot be changed. With the signing of the same

offer form, moreover, the Bidders are obliged to accept fully

and unconditionally the present conditions of sale.

8. 

COMPETITION

– The Auction House may make offers on its

own right 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 the auction, based on the instructions received. In the

case of offers of the same amount, the offer communicated by the

Auctioneer on that of the Offeror in the meeting will prevail.

9. 

RESPONSIBILITY

– The Auction House acts as agent with

representing the seller, and is exempt from any responsibility

regarding the quotation and description of the Lots in the catalogues,

in the brochures and in other illustrative material; such description,

whether other indications or illustrations, must be considered purely

indicative and not binding, and cannot be exchanged of any kind in

the Bidders and in the Purchaser. Notwithstanding the foregoing,

the descriptions in the catalogue can be integrated at the request

of the customers through the delivery of written reports (so-called

condition reports). All auctions are preceded by the exhibition of

the Lots, in order to allow a careful and in-depth examination about

the authenticity, the state of conservation, the origin, the type and

the quality of the same, on which only the Bidders and the Purchaser

assume every risk and responsibility, also as regards the effects of the

art. 1488, c. 2, of the Italian Civil Code. After the awarding, neither

the auction house nor the sellers will be held responsible for any

defects in the Lots, concerning, inter alia, the state of conservation,

incorrect attribution, authenticity, provenance, weight or lack quality

of Lots. To this end, the Bidders and the Purchaser expressly waive

the guarantee pursuant to the art. 1490 of the Italian Civil Code,

releasing the Auction House from any related liability; for the effect,

neither the auction house nor its staff can issue any valid guarantee

in this regard. In the event of an auction or internet auction by