Works Evaluations
Gigarte releases free of charge evaluations of artworks with relevant proposal for the sell in auction. A provisional evaluation can be made on the basis of photographic material that can be sent as per follows:
Mandate to sell
The mandate to sell is the contract through which the owner of one or more objects gives the auction house Gigarte the right to sell according to the conditions contained in it. This contract is drawn up in duplicate at the time of the assignment and is valid for a period of 90 days. In case the good, once the assignment has been given to Gigarte and subsequently awarded during the auction, will be sold to third parties by the owner himself and - therefore no longer available - the principal who has acted in violation of the agreement is required to pay Gigarte the share of the award.
Starting Price
The Starting Price for each Lot will be agreed before the auction. The starting price corresponds to the minimum amount which the lot cannot be sold.
Commissions
The commissions due to the auction house are 15% to be calculated on the award price. Gigarte reserves the right to lower or increase the above commission, if it deems appropriate in agreement with the principal.
Shipping Cost
The Packaging and Shipping cost is always in charge to the principal who is entitled to take out insurance.
Resale right
An additional percentage will be applied to the artworks subject to the resale right as follows: 4% for award price between € 3,000.00 and € 50. 000.00; 3% for award price between euro 50,000.01 and euro 200,000.00; 1% for award price between euro 200,000.01 and euro 350,000.00; 0.5% for award price between euro 350,000.01 and euro 500,000.00; 0.25% for award price higher than euro 500,000.00. The total amount of the compensation cannot be in any case higher than euro 12,500.00.
Unsold lots
If requested by the principal, the auction house may place the unsold lots in a subsequent auction on condition that the auction base is lowered.
Come riscuotere
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Payment Methods
Sold works may be paid to the principale by bank transfer or bank draft (other forms of payment will be agreed with Gigarte on a case-by-case basis).
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Tempi dei pagamenti
The works sold will be paid to the principal within 30 days after collection by the client, except for specific situations and bureaucratic and/or legal practices that may be necessary for the completion of the assignment of the lot to the successful bidder.
For all lots for which it is necessary, or for which the successful customer requests the completion of the procedure for the issue of the certificate of free circulation by the superintendence and/or other Italian and/or foreign authority, the payment times may vary depending on the timing of the issue of such documentation, independent of Gigarte. The principal, in order to speed up such practices, is obliged to provide Gigarte, with the utmost promptness, with all the supplementary documentation concerning the work that may be requested by the authorities in charge for the definition of the formality. -
Commissions and Expenses
They will be deducted directly at the time of payment.
Technical and force majeure problems
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Suspension or temporary interruption
In the event of temporary interruptions during the live auction (e.g. technical problems that can be resolved on the same day), Gigarte may temporarily suspend the auction, with all bids registered up to the time of the interruption remaining valid. The auction will resume as soon as possible and Gigarte will inform all participants in good time.
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Final cancellation or rescheduling
Should an auction be permanently interrupted due to technical problems that cannot be resolved on the same day or due to events of force majeure, all lots that have already been awarded will be considered closed and awarded to the highest bidder. Unallocated lots, including the current lot, will be included in a new auction, which will be scheduled within the next 30 days.
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Reopening of tenders
Fino alla data della nuova asta, i lotti interessati dall’interruzione saranno nuovamente disponibili per la ricezione delle offerte online. During the new live session, the lots will be auctioned and closed in the usual manner.
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Limitations of liability
Gigarte cannot be held liable for any damages or losses resulting from technical problems, platform malfunctions, network interruptions or other circumstances beyond its control, including force majeure. Participation in the auctions implies acceptance of these conditions.
Rev2 Regolamento pubblicato in data 12 Gennaio 2025