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 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.
Collection of lots
The purchased and paid lots must be immediately withdrawn, in any case no later than 10 (ten) days from the date of actual payment in favor of Marcopolo s.r.l. Otherwise, all custody rights will be granted to Marcopolo s.r.l. which will be exonerated from any responsibility in relation to the custody and possible deterioration of the objects. The weekly storage cost will amount to € 26.00.
Payments
The payment of the lots must be made, in €, within 7 (seven) days following the sale, in one of the following ways:
cash within the limits set by law at the time of payment,
non-transferable cashier's check made out to: Marcopolo s.r.l.
bank transfer to:
Banco BPM
IBAN IT98 C 05034 01606 000000006866 in the name of MARCOPOLO S.R.L.
Swift BIC Code: BAPPIT21A46
For more information, please refer to the General Sales Conditions.
Catalog
The estimates in the catalog are expressed in Euros (€).
These evaluations, purely indicative, are based on the average market price of comparable works, as well as on the state of conservation and quality of the object itself.
Please contact the department's expert to request a condition report for a particular batch. The lots sold in our auctions will rarely, by nature, be in a perfect state of conservation, but due to their nature and age, they may show signs of wear, damage, other imperfections, restorations or repairs. Any reference to the conditions of the work in the catalog sheet is not equivalent to a complete description of the state of conservation. Condition reports are usually available upon request and complete the catalog sheet. In the description of the lots, our staff assess the state of conservation in accordance with the estimate of the object and the nature of the auction in which it is inserted. Any statements about the physical nature of the lot and its condition in the catalog, condition report or elsewhere are made with honesty and care. Potential buyers are encouraged to inspect items during pre-sale exhibits. Purely as an indication, Marcopolo Asian Art can provide a condition report. The absence of references to the conditions of a lot in the description of the catalog does not imply that the lot is free of defects or imperfections. Please refer to condition 4 of the General Conditions of Sale printed in this catalog.
The following are specified for the attributions:
SIGNED BY: in our opinion work of the artist.
SIGNED: we are not sure if the work was done by the artist
The lots marked with (§) are subject to the resale right.
Resale right
The legislative decree n. 118 of 13 February 2006 introduced the right of the authors of works and manuscripts, and their heirs, to a fee on the price of the original work, after the first one, the so-called "Resale right".
This fee is due if the sale price is not less than €. 3,000 and is determined as follows:
a) 4% up to €. 50,000b) 3% for the part of the sale price between €. 50,000.01 and €. 200,000
c) 1% for the part of the sale price between €. 200,000.01 and €. 350,000
d) 0.5% for the part of the sale price between €. 350,000.01 and €. 500,000
e) 0.25% for the part of the sale price higher than €. 500,000
Marcopolo Asian Art is required to pay the "resale right" on behalf of the sellers to the Italian Society of Authors and Publishers (SIAE).
If the lot is subject to the so-called "Resale right" pursuant to art. 144 of Law 633/41, the successful bidder undertakes to pay, in addition to the award, the auction commissions and any other expenses that may be incurred, also the amount that would be due to the Seller to pay pursuant to art. 152 of Law 633/41, which Marcopolo Asian Art undertakes to pay to the person in charge of collection.
Please note that for the export of works that are more than 50 years old, Italian law requires a certificate of free circulation to be requested. The waiting time for the release of this documentation is approximately 40 days from the presentation of the work and related documents to the Superintendence of Fine Arts.
In the event of a lot being awarded by a foreign buyer, the customer is requested to immediately contact the competent department regarding the purchased work for information on the estimate and for the practices relating to the export and transport of the works to foreign countries.
Failure to issue or delay in issuing the license does not constitute a cause for termination or cancellation of the sale, nor does it justify late payment by the buyer.