Condition of lots
Potential buyers are encouraged to inspect the objects during pre-sale exhibitions. For information only, Marcopolo Asian Art can provide a condition report. The absence of references to the condition of a lot in the catalogue description does not imply that the lot is free of defects or imperfections. Please refer to condition 4 of the General Conditions of Sale.
Conditions of sale
Marcopolo Asian Art requires an amount of €7,000 as a deposit to authorise you to bid on lots. Marcopolo Asian Art also reserves the right to request higher and cumulative amounts for lots marked in the catalogue as PREMIUM lots, lots for which only telephone and room bids will be accepted.
Furthermore, the auction house may, at its discretion, request additional guarantees for one or more lots.
Therefore, the customer is requested to contact the auction house at least 4 days before the auction date to allow for proper pre-registration and to know the amount of the deposit to be paid, making sure that this amount arrives at least 3 working days before the sale.
It will not be possible for the auctioneer to obtain financial references on weekends or public holidays. The required deposit must be paid in Euros by bank transfer or credit/debit card, in the latter case a pre-authorization of € 5,000 will be made in order to be accepted to participate in the auction after registration.
In the case of cash payments, amounts not exceeding € 4,999 will be accepted, in accordance with the regulations in force regarding cash circulation limits. The payment of the auction invoice, as stated in the conditions of sale, shall be made within 7 days from the date of the auction. If the customer has not paid the balance within this deadline or does not express an intention to pay their invoice otherwise, the auction house reserves the right to:
-charge the pre-authorisation made by credit card, made at the time of approval and registration for the auction, as the invoice balance (if the amount due is less than the authorised deposit) or as an advance to the invoice itself if the amount due is higher.
-withhold the bank deposit (in case of deposit payment by bank transfer) as partial or full invoice payment . In the latter case, the excess will be refunded.
In both cases, after a further 7 days, the auction house may cancel the sale and retain the entire deposit as a penalty for the failed sale, reserving all rights to open a dispute to recover the full amount due. The auctioneer shall not accept any objection to such handling of the unpaid amount.
In the event that a customer is not awarded a lot, Marcopolo Asian Art will re-issue a refund (subject to the right of set-off) for the amount of the deposit paid by the customer without interest within 3 business days from the date of the sale. Any exchange losses or fees associated with the refund will be borne by the customer.
For more information, please refer to the General Sales Conditions.
How to partecipate in the auction
The auctions are open to the public and without any obligation to purchase. The lots are usually sold in progressive numerical order as shown in the catalog. The sales rate is approximately 90-100 lots per hour but may vary depending on the nature of the objects.
Written and telephone offers
If it is not possible to attend the auction, Marcopolo s.r.l. may participate in the purchase of the lots on your behalf.
To access this service, which is completely free, you must submit the appropriate form that you will find on the webiste, at the bottom of the catalog or at our offices with a photocopy of an identity document attached.
The lots will eventually be purchased at the lowest price made possible by the other offers in the room.
In case of offers of the same amount on the same lot, the one received first will take precedence.
Marcopolo s.r.l. it also offers its customers the possibility of being contacted by telephone during the auction to compete for the purchase of the proposed lots. It will be sufficient to submit a written request which must be received by 10.00 on the day of sale, without prejudice to the right of Marcopolo s.r.l. to request, at its discretion, a security deposit to enable the potential customer to bid at auction, which must be received within 3 working days before the date of the sale; Marcopolo s.r.l. therefore invites any potential customer to contact the auction house within a reasonable time to make sure that there is no restriction on the lots of his interest for submitting bids.
This service will be guaranteed within the limits of the availability of the lines at the time and in order of receipt of requests. In view of the foregoing, we recommend that you still report an offer that will allow us to act on your behalf only if it is impossible to contact you.
Raise
The starting price is usually lower than the estimate indicated in the catalog and the bids are approximately equal to 10% of the last measure. In any case, the Auctioneer may vary the bids during the auction.
For more information, please refer to the How to buy.