PAYMENT
Buying
Auctions are open to the public without any obligation to bid.
The lots are usually sold in numerical order as listed in the catalogue. Approximately 90-100 lots are sold per hour, but this figure can vary depending on the nature of the objects.
Absentee bids and telephone bids
If it's not possible for the bidder to attend the auction in person, Pandolfini CASA D'ASTE S.r.l. will execute the bid on your behalf.
To have access to this free service you will need to send us a photocopy of some form of ID and the relevant form that you will find at the end of the catalogue or in our offices. The lots will be purchased at the best possible price depending on the other bids in the salesroom.
In the event of bids of equal amount, the first one to be placed will have the priority. Pandolfini CASA D'ASTE S.r.l. offers its clients the possibility to be contacted by telephone during the auction to participate in the sale. You will need to send a written request before 12 p.m. of the day of the sale.
This service is guaranteed depending on the lines available at the time, and according to the order of arrival of the requests.
We therefore advise clients to place a bid that will allow us to execute it on their behalf only when it is not possible to contact them.
Bids
The starting price is usually lower than the estimate stated in the catalogue, and each raising will be approximately 10% of the previous bid. The raising of the bid during the auction is, in any case at the sole discretion of the auctioneer.
Collection of lots
The lots paid for following the aforementioned procedures must be collected immediately, unless other agreements have been taken with the auction house. Pandolfini CASA D'ASTE S.r.l. may, following the precise, written indications of the Purchaser, attend to the packing and shipping of the lots at the Purchaser's risk and expense.
Payment
Payment for lots must be made in € no later than the day after the sale, in one of the following ways:
• cash up to € 2.999
• non-transferable bank draft or personal cheque with prior consent from the administrative office, made payable to: Pandolfini CASA D'ASTE S.r.l.
• bank transfer to:
BANCA MONTE DEI PASCHI DI SIENA Filiale 1874 - Sede di Firenze Via Sassetti
IBAN: IT 25 D 01030 02827 000006496795,Swift BIC - PASCITM1W40
For any other information please see General Conditions of Sale.
Pandolfini CASA D'ASTE S.r.l. acts on behalf of the Consignor on the basis of a mandate, and does not substitute third parties regarding payments. For lots sold by V.A.T. payers, an invoice will be issued to the purchaser by the seller. Our invoice, though you will find reported the hammer price and the V.A.T., is only made up of the amount highlighted.
We wish to remind you that in order to export all the art works older than 50 years, according to the Italian law, you need to get the permission for free circulation by the Soprintendenza delle Belle Arti. To obtain permission it takes about 40 days from the presentation of the required documents.
Catalogue
The estimates in the catalogue are expressed in Euros (€). These estimates are purely indicative and are based on the mean price of comparable pieces on the market, on the condition and on the characteristics of the object itself.
The catalogues of Pandolfini include information on the condition of the objects only when describing multiple lots (such as prints, books, coins and bottles of wine).
Please request a condition report of the lot you are interested in from the specialist in charge.
Lots sold in our auctions will rarely be in perfect condition and may show, due to their nature and age, signs of wear, damage, restoration or repair and other imperfections. Any reference to the condition of the object in the catalogue is not equivalent to a complete description of its condition. Condition reports are usually available on request and complete the catalogue entries. In the description of the lots, our staff judges the condition of the object in accordance with its estimate and the kind of auction in which it has been included. Any statement in the catalogue, in the condition report or elsewhere, regarding the physical nature of the lot and its condition, is given honestly and scrupulously. The staff of Pandolfini however does not have the professional training of a restorer: any statement therefore should not be considered exhaustive. Potential purchasers are always advised to inspect the object in person and, in the case of lots of particular value, to ask the opinion of a restorer or of a trusted consultant before placing a bid.
Any statement regarding the author, the attribution of the work, dating, origin, provenance and condition is to be considered a simple opinion and not an actual fact.
As concerning attributions, please note that:
1. ANDREA DEL SARTO: in our opinion a work by the artist.
2. ATTRIBUTED TO ANDREA DEL SARTO: in our opinion the work was executed by the artist, but with a degree of uncertainty.
3. ANDREA DEL SARTO'S WORKSHOP: work executed by an unknown artist in the workshop of the artist, whether or not under his direction.
4. ANDREA DEL SARTO'S CIRCLE: in our opinion a work executed by an unidentifiable artist, with characteristics referable to the
aforementioned artist. He may be a pupil.
5. STYLE OF…; FOLLOWER OF…; a work by a painter who adheres to the style of the artist: he could be a pupil or another contemporary, or almost contemporary, artist.
6. MANNER OF ANDREA DEL SARTO: work executed imitating the style of the artist, but at a later date.
7. FROM ANDREA DEL SARTO: copy from a painting known to be by the artist.
8. IN THE STYLE OF…: work executed in the style specified, but from a later date.
9. The terms signed and/or dated and/or initialled means that it was done by the artist himself.
10. The term bearing the signature and/or date means that, in our opinion, the writing was added at a later date or by a different hand.
11. In the measurements of the paintings, expressed in cm, height comes before base. The size of works on paper is instead expressed in mm.
13. For lots with the symbol (?), an export licence or a temporary importation licence is available.
14. The weight of silver objects is a net weight, excluding metal, glass and crystal parts. The weight of silver objects with a weighted base will not be indicated.
15. Lots with the symbol • are subjected to the "resale right".
Resale right
The Legislative Decree n. 118 dated 13th February 2006 introduced the right for authors of works of art and manuscripts, and for their heirs, to receive a remuneration from the price of any sale after the first, of the original work: this is the so-called "resale right".
This payment is due for selling prices over €3.000 and is determined as follows:
a) 4 % for the portion of the selling price between € 3.000 and € 50.000;
b) 3 % for the portion of the selling price between € 50.000,01 and € 200.000;
c) 1 % for the portion of the selling price between € 200.000,01 and € 350.000;
d) 0,5 % for the portion of the selling price between € 350.000,01 and € 500.000;
e) 0,25 % for the portion of the selling price exceeding € 500.000.
Pandolfini CASA D'ASTE S.r.l. is liable to pay the "resale right" on the sellers' behalf to the Società Italiana degli Autori ed Editori (SIAE).
Should the lot be subjected to the "resale right" in accordance with the art. 144 of the law 633/41, the purchaser will pay, in addition to the hammer price, to the commission and to other possible expenses, the amount that would be due to the Seller in accordance with the art. 152 of the law 633/41, that Pandolfini will pay to the subject authorized to collect it.
Value Added Tax
The purchaser will pay 22% V.A.T. on the hammer price. The final price is therefore composed of the hammer price plus a total of 25% on the first €250.000 and 22% on any amount exceeding €250.000.
Lots marked * in the catalogue
The sale of lots marked * and subject to ordinary VAT will instead be increased as follows:
- 22% VAT on the hammer price
- 25% buyer's premium up to € 250,000 and 22% on any excess amount
