Conditions applicable on Pizzigoni auctions

Scope

Pizzigoni sell at auction items submitted by the Sellers on the company’s website for online auctions for selling. Pizzigoni has the right to sell submitted items in the auction format (live auction or online auction) and at the office that Pizzigoni Auction considers appropriate and to promote the item in other forums besides the market place. For sales through live auctions, Pizzigoni Auction’ general terms for live auctions shall apply instead. The contact details to Pizzigoni Auction are: Pizzigoni - Gall. Buenos Aires 4 - 20124 Milano Italy - +39 023655 3848

Acceptance of Items

The Sellers guarantees that the Sellers has full ownership rights to items submitted to Pizzigoni Auction for sale. If the Sellers lacks unlimited ownership of the item, the Sellers must, with the support of a written document, be able to prove its eligibility to sell and collect payment for the submitted item. When a selling agreement has been made, a certain sales agreement shall be drawn up between the parties, a so-called advice of receipt/contract. After valuation, Pizzigoni Auction places an estimate on each item. The estimate is based on a market valuation, but the price for which an item is finally sold can significantly exceed or fall short of the estimate. The estimate only constitutes guidance for purchasers. Pizzigoni Auction reserves the right to unilaterally and without right to compensation for the Sellers, withdraw from the sales assignment should there be any doubt concerning the authenticity of the item, right of ownership of the item or other, according to Pizzigoni Auction assessment, significant circumstance.

Storage and Insurance liability

Pizzigoni Auction insures received items against damage associated with burglary, fire and water damage, as well as theft up to a value corresponding to the estimate minus sales charges and, if the estimated price has been stated as an interval, to the lowest price of the interval, or hammer price minus sales charges. Pizzigoni Auction is not responsible for minor damages that can occur to items when on display or during handling. Pizzigoni Auction is not responsible for compensating the Sellers for any damage exceeding the insured value in accordance with the above.

Currency

Items that have been received for sale are valued, sold and paid in Euro.

Sale fees

Pizzigoni Auction charges a sales commission as well as an insurance fee and an administrative photography fee according to the current price list.

Price and reserve

A reserve means that Pizzigoni Auction on behalf of the Sellers ensures that an item is not sold below the agreed minimum price.

Unsold items

In the event that an item is unsold, Pizzigoni Auction and the Sellers may agree to sell the item at a fixed price without bidding. Until an item has been collected, Pizzigoni Auction is also, regardless of the above, entitled to sell an unsold item via a post-auction sale, provided that the post-auction sales price is not less than the agreed reserve price in accordance with Section 6 above. Selling charges will not be applied if the item remains unsold. If an item is not collected within three (3) months from when the Sellers has been requested to collect it and the request stated that the item may otherwise be sold after a certain period of time, Pizzigoni Auction is entitled to sell the object. In such a case, Pizzigoni Auction will determine which price can be accepted. Pizzigoni Auction is thereby entitled to deduct compensation for storage and transportation costs from the amount received. Any profit after this deduction will be transferred to the Sellers.

Withdrawal

The sales made through Pizzigoni Auction are subject to the right to withdrawal according to the European law on Distance Contracts and Off-Premises Contracts.

Accounts and payments

A preliminary payment note of the contract with the sellers is sent via e-mail immediately after the end of the auction. In the event that the sellers have not provided a valid e-mail address, the sellers must contact the Pizzigoni auction for a definitive reply. Payment is made by the Pizzigoni auction thirty-five (30) calendar days after the online auction provided that the buyer has received the full payment and that no claim or use of the legal right of withdrawal has occurred. When selling to a consumer, the buyer has a legal withdrawal period of fifteen (15) days from when the buyer received the item (withdrawal period).

liability for faults

If Pizzigoni Auction is responsible against the buyer of the object for inaccuracies and thus liable to pay damages, Pizzigoni Auction has the right to demand the corresponding compensation from the Sellers. The Sellers agrees that the item is sold in accordance with the terms and conditions generally applied by Pizzigoni Auction. Pizzigoni Auction has the unilateral right to move, end or change the length of an auction due to technical or other circumstances which, in Pizzigoni Auction’ opinion, requires this, regardless of whether the circumstances have occurred within Pizzigoni Auction' control. Unless otherwise provided by mandatory law, Pizzigoni Auction shall never be liable for direct or indirect damages which the Sellers may suffer, except if Pizzigoni Auction has been grossly negligent. The Sellers is obliged to take reasonable measures to prevent, avoid or limit loss or damage.

Force majeure

due to a Force Majeure event, Pizzigoni Auction cannot be held liable for any damages or other sanctions, provided that Pizzigoni Auction within reasonable time, informs the Sellers hereof. As soon as the Force Majeure event has ceased the obligation shall be fulfilled as agreed. A Force Majeure is an unforeseeable event that is beyond the control of Pizzigoni Auction, e.g. natural disaster, fire, flooding, war, warlike event, revolution, confiscation, seizure, nuclear process, terrorism/terrorist act, new or amended legislation, acts of government or labour dispute.

Personal data

Personal data, such as name, address, personal identification number, phone number and e-mail-address provided to Pizzigon i Auction in connection with Pizzigoni Auction’ services or otherwise within the scope of a contractual relationship with Pizzigoni Auction will be used for administrative purposes and performance of Pizzigoni Auction' obligations relating to the auction business, in order to provide good service and to fulfill obligations according to applicable law. For more information about Pizzigoni Auction’ handling of personal data, see Pizzigoni Auction' privacy policy.

Disputes

Any dispute arising out of, or in connection with an agreement regarding items received for sale shall be settled in accordance with Italian law and by General courts of Milano.