1. SALE – Gonnelli Casa d’Aste S.r.l., with registered office in Florence, Via Fra’ Giovanni Angelico 49, VAT no. and Tax Code 07540680480 (“Auction House”), holder of the trademark «Gonnelli Casa d’Aste» owned and registered by Libreria Antiquaria Gonnelli Srl, acts as exclusive agent for the sale of lots of goods (“Lots”), at auction or by private sale, in the name and on behalf of each owner of the Lots (“Seller”). The sale of the Lots shall be deemed to have taken place directly between the Seller and the person who, among those who have submitted bids for the purchase of one or more Lots (“Bidders”), has submitted the highest bid for the purchase of each of the Lots and is declared the successful bidder (“Buyer”); it follows that the Auction House assumes no liability of its own towards Bidders and/or the Buyer. These conditions apply in full also to lots sold privately by the Auction House at the end of the auction session (post-auction or after-sale). 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 prior notice; in such case the Lots shall in any event be deemed not to have been awarded to the Bidders. During the auction the Auction House auctioneer (“Auctioneer”), at his absolute and unquestionable discretion, may decide the opening price of the Lots, vary the order of sale of the Lots, combine and/or separate the Lots, and formulate increments. The Auction House may refrain from awarding and/or withdraw from auction the Lots for which the highest bid among those of the Bidders has not reached the minimum reserve price agreed with the Seller (“Reserve Price”); in such case the Lots shall in any event be deemed not to have been awarded to the Bidders. 3. PARTICIPATION AND BIDS – Each Bidder, by submitting their bid for the purchase of the Lots, in the event of acceptance and award, undertakes to purchase the Lots and to pay the Auction House, for each of the Lots awarded, the amount (“Total Price”) equal in total to the sum of the amount bid for the purchase of the awarded Lots, plus the Buyer’s Premium referred to in § 5 below, plus any expenses referred to in § 6, letter (b), plus the further expenses provided for therein and any charges required by law. Written bids (including via the internet) will be valid only if complete in all their parts and received by the Auction House at least 24 hours before the start of the auction; bids below the opening price will not be accepted. Telephone participations will be valid only if received in writing from the bidder at least 24 hours before the start of the auction. Such telephone connections may be recorded solely for the purpose of demonstrating the Bidder’s intention to compete for the award of lots at auction. Except in the case of disputes, in any event the possible sale of the Lots shall only be deemed concluded upon full payment of the Total Price in favour of the Auction House. The Auction House reserves the right not to accept bids and/or participations from parties who have been late or have failed to pay amounts due following previous awards. 4. AWARD – The Lots will be awarded and sold to the highest Bidder, at the hammer price, i.e. the price at which the lot is awarded at auction; in the event of bids of the same amount, the one received first shall prevail (subject to § 8). Bidders declare that they have examined and taken full cognisance of the Lots and unconditionally accept their possible award, even regardless of the description of the Lots in the auction catalogue. For the purposes of awarding the Lots, the minimum bid increments will be communicated by the Auctioneer. The Auctioneer awards the Lots and informs the Buyer of each of the Lots at the conclusion of the relevant auction and on the basis of the purchase bids received. Should any dispute arise during the course of the auction as to the identification of the Bidder, the Auctioneer may, at his absolute and unquestionable Sale conditions discretion, put the Lots back up for auction and proceed to a new award, or resume bidding from the previous offer. 5. BUYER’S PREMIUM – The Buyer, for each of the Lots awarded, undertakes to pay the Auction House the commission for the buyer’s premium (“Buyer’s Premium”). (a) at the rate of 27% of the hammer price of Lots awarded up to an amount of Euro 100,000; (b) at the rate of 22% on the amount exceeding Euro 100,000 of the hammer price. The Auction House applies the Special VAT margin scheme governed by Italian laws (Art. 40-bis of D.L. 41/1995) and its subsequent amendments to the sale of goods at auction. In the event of an online auction via platforms other than GonnelliLive, the Buyer’s Premium referred to above will be increased by a further 3% on the hammer price. 6. PAYMENTS – The Total Price must be paid by the Buyer to the Auction House within the essential deadline of 7 (seven) days after the auction (in the event of delay, the provisions of § 11 below shall apply), in Euro and in a single payment, by the following means: (a) in cash, up to the total amount of Euro 4,999.00, or any different amount required by law; (b) by credit card (circuits accepted by the Auction House); (c) by bank transfer to the account indicated by the Auction House. The Auction House will consider only the Buyer solely responsible for payment, unless the Bidder has previously given written notice of participation in the name and on behalf of a third party. Only upon full payment of the Total Price will ownership and possession of the Lots pass to the Buyer, subject to § 14. 7. DATA – For the purpose of participating in the auction, Bidders must complete and sign a participation form (the so-called bid form), which, in addition to the amount bid for the purchase of one or more Lots, also contains the relevant personal data and bank references, where required. Such data are processed in accordance with the applicable personal data protection regulations (Privacy), as per the relevant information notice issued by the Auction House. The Auction House reserves the right to refuse bids from parties not previously registered and/or identified, or who have not provided adequate bank references as required. In the event of an award, the data indicated in the bid form will be included in the header of the invoice. By signing the bid form, Bidders also undertake to fully and unconditionally accept these conditions of sale. 8. COMPETITION – The Auction House may bid on its own account and/or accept mandates for the purchase of certain Lots on behalf of its clients; in such case, the Auctioneer will submit bids and/or increments at auction, based on the instructions received. In the event of bids of the same amount, the bid received first by the Auction House shall prevail. 9. LIABILITY – The Auction House acts as authorised agent of the Seller and is exempt from any liability with regard to the provenance and description of the Lots in catalogues, illustrative materials, portals dedicated to online sales and on social channels; such descriptions, as well as any other indication or illustration, must be considered purely indicative and non-binding, and cannot give rise to any form of reliance by Bidders or the Buyer. The Auction House gives no warranty (direct or indirect) as to the condition, attribution, authenticity, or provenance of the Lots, the sole guarantor and responsible party for which remains exclusively the Seller, also towards Bidders and the Buyer. Accordingly, Bidders and the Buyer expressly release the Auction House from any liability Updated April 2026
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