HOW TO SELL
CONFIDENTIAL EVALUATIONS, FREE OF CHARGE
The ART INTERNATIONAL staff is always available for free and confidential evaluations of objects to sell at auction. Items may be evaluated at our office in Bologna without prior appointment, by sending us photos of the object(s) by email, accompanied by the following information: dimensions, provenance, publications, expertise, buying history.
The reserve price is the minimum price at which the lot can be sold, decided upon agreement between Art International and the seller. This information is strictly confidential; it is not disclosed by the auctioneer during the auction. The reserve price is reported in the selling mandate, along with the description of each lot and may be lower, higher or equal to the estimate reported in the catalogue. If the reserve price is not reached, the lot is not sold and will consequently be removed from the auction. The auction house retains 14% commission on the selling price (with a minimum of 30€) and 1% as insurance reimbursal.
If you decide to entrust Art International with your objects, we invite you to sign a sales assignment which reports the conditions of the contract, a copy of which will be sent to you, which contains a list of the objects to be auctioned, reserve prices, the percentage of the agreed auction rights and eventual insurance fees, as well as the cost of transportation or any other additional fees.
After every auction, the seller will receive a statement that lists all of their proprietary lots with the relative hammer price.
Regarding unsold lots, it is possible to agree upon a reduction of the reserve price, allowing us the time necessary for further attempts to sell, even by private treaty. If, however, the objects remain unsold, they will have to be collected at the seller’s expense within 30 days of the auction. After this term, fees of transport and custody will be applied, which amount to 126.00€ per week.
After sixty (60) working days from the date of the auction, Art International will dispatch the sum owed for the sale by check, to be collected at our offices or by way of bank deposit, on the condition that the buyer has honored the responsibility assumed at the moment of the adjudication and that there have not been complaints or disputes inherent to the assets at hand. At the moment of the payment, we will send an invoice which details the hammer price, the commission fees and any other eventual fees. In any case, the payment will be sent by Art International only after having received the entire sum from the buyer.
RIGHT OF RESALE
With the legislative delegation n. 118 of the 13/2/2006, in effect in Italy since April 9th, 2006, the “Right of Resale” (Droit de Suite), or the of the author (living or deceased for less than 70 years) of visual arts or manuscripts to receive a share of the sale price of the originals works for every sale following the first. The seller is responsible for this right, which will be calculated on the hammer price equal or superior to 3,000.00 euro. Such a right cannot exceed the sum of 12,500.00 for each lot.
The amount of the right is determined as follows:
– 4% of the sales price to 50,000€;
– 3% of the sales price between 50,000.02€ and 200,000€;
– 1% of the sales price between 200,000.01€ and 350,000.00€;
– 0,50% per la parte del prezzo di vendita compresa fra 350.000,01 e 500.000,01€;
– 0.25% of the sales price over 500,000€.
The resale right charged to the Seller will be paid by Art International to SIAE on the basis of what is established by law.