Terms of sale - InAsta 119 E-Live

GENERAL TERMS AND CONDITIONS

Sales are made in cash and in EURO to the highest bidder. Each participant in the auction is personally responsible for the purchases made and may not claim to have acted on behalf of third parties. All material offered belongs to third parties from whom Inasta has received a proper mandate to sell; therefore, Inasta's responsibility towards buyers and consignors is strictly limited to its role as agent. All liability remains with the sellers of the goods.

ALL BIDS, WHETHER WRITTEN OR ONLINE, ARE BINDING.

1. LOTS OFFERED FOR SALE – CONDITION

Lots are sold “as is”. The descriptions and illustrations contained in the catalogues, on the website or in any other promotional material are merely indicative and cannot create any form of reliance by the winning bidder. Upon appointment, it is possible to examine the lots in the days prior to the auction to assess their authenticity, attribution, condition, provenance, type, quality, and any defects, and to verify any discrepancies with what is described in the catalogue. By registering and/or participating in the auction, the prospective buyer acknowledges that they have had the opportunity to thoroughly examine the lot, possibly with the assistance of a trusted expert, to ascertain all its characteristics.

Inasta S.p.A. does not in any way guarantee the contents of expert opinions on coins, banknotes, medals, or other objects offered for sale, including, by way of example and not limitation, those issued by third parties or entities. After the lot is awarded, no complaints will be accepted regarding expert opinions on such items.

Specifically, and for further clarification of these General Conditions, the following applies to certain types of items that may be offered in auction:

2. COMPLAINTS

Unless otherwise provided in these Conditions, Inasta S.p.A. will only consider complaints regarding the authenticity of the lots, the existence of serious flaws or hidden defects, and/or discrepancies between the purchased lots and those described in the auction catalogue and available for viewing before the auction. Defects that the buyer should have known at the time of purchase, having had the opportunity to examine the lot in the catalogue or during the pre-auction viewing, will not be considered non-conformities (i.e., defects that could not have been ignored using ordinary diligence).

Any complaints must be sent by registered letter with return receipt within twenty (20) calendar days from the date of the auction and in any case before Inasta S.p.A. has paid the consignor. In the case of valid complaints submitted within the deadline, any obligation or liability is limited solely to refunding the amount actually paid by the buyer, with all other claims excluded.

No complaints will be accepted in the following cases: - for defects expressly mentioned in the catalogue or clearly visible in the lot’s photographs or during the pre-auction viewing; - relating to multiple lots and paper money or accumulations of any kind, which are sold “as seen and liked” and are non-returnable; - relating to lots explicitly marked in the catalogue as “to be examined”; - concerning the state of preservation of the lots, as this is a subjective evaluation and all sales are made “as seen and liked”; - for defects attributable to the buyer's actions after delivery of the lot; - after 20 days from the date of the auction.

Inasta S.p.A. will provide a written response to complaints within 60 days of their receipt.

Inasta S.p.A. will accept complaints only if, in the opinion of two independent experts appointed by each party, the lot is found to be inauthentic, affected by serious flaws or hidden defects, and/or substantially not in conformity with the catalogue description. In such cases, the buyer will only be entitled to a refund of the amounts paid for the purchase and delivery of the lot; any further compensation or reimbursement is expressly excluded.

If, after the auction, a coin is submitted by the buyer to grading companies, the opinion of such companies regarding its condition — particularly with classifications such as “CLEANED”, “DETAILS”, etc. — shall not be grounds for a claim against Inasta S.p.A. and shall not entitle the buyer to terminate the contract.

3. LIMITATION OF LIABILITY

Participants are fully informed that Inasta S.p.A. is required to comply with the anti-money laundering regulations of San Marino (Law No. 82 of 17 June 2008), as subsequently amended. Accordingly, they unconditionally accept that, under said legislation, they may be subject to 'Customer Due Diligence' requirements and must provide documents and information if awarded a lot. By signing and accepting these Terms and Conditions, the Participant also agrees to do everything necessary for Inasta S.p.A. to perform such due diligence, being aware that, even after the award and payment,

Inasta S.p.A. is entitled to withhold the goods if the due diligence is not completed in accordance with the law.

Inasta S.p.A. auctions are not subject to the right of withdrawal as they are preceded by a viewing of the lots at the San Marino premises.

To participate in the auctions by any of the methods indicated, Inasta reserves the right to request, at its sole discretion, that the participant provide suitable guarantees, which the participant unconditionally agrees to. Inasta also reserves the right to reject bids from unknown or non-approved buyers unless a deposit is provided. If the bidder places a deposit but is not awarded any lots, they shall not be entitled to any refund beyond the deposit amount, expressly waiving any claims.
For room auctions, Inasta S.p.A. reserves the right to deny entry to its premises and participation in the auction at its sole discretion. In the event of non-payment or delayed payment by a buyer, Inasta S.p.A. may reject any future bids from that individual or their representative.

4. PARTICIPATION IN THE AUCTION

To participate in the auction room, prospective bidders must request a “bidder number” from Inasta staff and provide their personal details and residential address, including valid ID and tax code. Inasta S.p.A. reserves the right to request additional information such as personal references and bank details, and, following such checks, may deny access to unwanted participants.

If the participant is bidding on behalf of another person or entity, a suitable power of attorney must be submitted before the auction begins.

To participate in the online and/or E-live auction (including written or telephone bids), the participant must sign and submit the appropriate form to Inasta S.p.A. before the auction starts. By doing so, they agree to participate and commit to paying the final bid price if awarded. Inasta S.p.A. shall not be held liable for failure to participate if the form is not received in time or is improperly completed.

Participants must check the outcome of their bids after the auction and release Inasta S.p.A. from any liability in this regard. Disputes due to unclear, incorrect, or incomplete written bids will not be accepted.
Inasta S.p.A. assumes no liability for failed participation due to issues with telephone or internet connections before or during the auction.

To participate online, users must register at www.inasta.com. Bidding is conducted exclusively online, and lots are awarded to the highest bidder. Lots may be viewed in advance on the website and in the catalogue. Each lot has a starting price (estimate) below which it will not be awarded. Bidding is open for a predefined period, during which participants can place maximum bids.

After a lot is awarded, the successful bidder will receive payment and delivery instructions. Upon request and at the buyer’s expense, Inasta S.p.A. may arrange delivery via specialized courier.

5. BIDS

Inasta S.p.A. reserves the right to withdraw any item from sale, to combine or split lots, and to change the order of sale at its sole discretion, provided the lots are not auctioned before the scheduled date. The Auctioneer may accept bids from the audience, absentee bids (by post, phone, or online), provided they are submitted in accordance with auction rules.
The starting price is the estimate listed for each lot. Bids below this estimate will not be accepted.

Minimum increments are determined by the Auctioneer. Lots are awarded to the highest bidder as declared by the Auctioneer, whose declaration serves as acceptance of the bid. In the case of identical bids, the earliest one received will prevail.

Absentee bidders may inquire about their results by calling +378 0549 970146 or writing to info@inasta.com three business days after the auction. Inasta S.p.A. may send a courtesy email to notify bidders of results, but bidders remain responsible for verifying the outcome of their bids.

6. BUYER’S PREMIUM

The estimates in Euro indicated in the catalogue represent the starting prices. Lower bids will not be considered. Minimum increments are at the Auctioneer’s discretion but average around 10%.

The final hammer price will be increased by 20% as buyer’s premium, plus an additional 3% for the complementary tax on services under Law 194 of 22/12/2010, Article 48 (total 20.6%), and any shipping costs, which are borne by the buyer.

7. DELIVERY AND PAYMENT

Lots must be collected from Inasta’s premises. Payment may be made in cash (subject to legal limits), by cashier’s cheque payable to Inasta S.p.A., or by bank transfer. In the case of bank transfer, payment is valid only once funds are irrevocably credited to Inasta’s bank account. Inasta S.p.A. may request a deposit to confirm the purchase.

From the moment of sale until collection, goods are stored at the buyer’s sole risk. Delivery is either by collection from Inasta or via courier at the buyer’s expense and responsibility. Shipping will be arranged only after full payment, and goods will be shipped in the manner indicated by the buyer.

Interest will be charged on unpaid invoices after 30 days. Buyers are responsible for complying with applicable laws, including customs duties and documentation (e.g. T2 forms).

Inasta S.p.A. will make every effort to ensure proper shipment of awarded lots, but all risk remains with the buyer. The buyer must provide precise shipping instructions, taking into account that San Marino is not part of the EU and is subject to applicable customs and postal regulations.

8. COMPETENT COURT

These Terms and Conditions of Sale are governed by the laws of the Republic of San Marino, with the express exclusion of the rules of private international law. They are deemed accepted by all parties participating in the auction sale and are available upon request. Any dispute relating to auction activities carried out by Inasta S.p.A. shall fall under the exclusive jurisdiction of the Court of San Marino, with the express exclusion of any alternative jurisdiction.

9. PRIVACY

Inasta S.p.A., in its capacity as data controller, informs that the personal data provided will be used, both on paper and electronically, for the full and complete execution of the purchase agreements entered into with the company, as well as for any other services related to Inasta S.p.A.'s corporate purpose. Providing data is optional but necessary to participate in the auctions and to execute concluded agreements.

Registration for the auctions authorizes Inasta S.p.A. to send auction catalogues and other information materials by email or post.

Inasta S.p.A. reserves the right, at its sole discretion, to record the auction session in any form, including telephone communications.

10. COMMUNICATIONS

All communications relating to the sale must be made by registered letter with return receipt addressed to: Inasta S.p.A. Via A. Giangi 16 47891 Dogana San Marino (RSM)

11. DISCLAIMER REGARDING TRANSLATIONS

The Terms and Conditions of Sale, catalogue information, and texts in languages other than Italian are non-binding auxiliary translations. Inasta S.p.A. assumes no responsibility for the accuracy of such translations.
Only the Italian version of these General Terms and Conditions is legally binding and shall prevail over any translation; the English version is provided solely for convenience.

12. MISCELLANEOUS

All copyrights relating to images, illustrations, and written documents created by or for Inasta S.p.A., related to a lot or specific catalogue content, remain the exclusive property of Inasta S.p.A. Such content may not be used by the buyer or third parties without prior written consent from Inasta S.p.A.

If any clause of these General Terms and Conditions is or becomes ineffective or invalid for any reason, such ineffectiveness or invalidity shall not affect the legal validity of the remaining provisions. Invalid or ineffective provisions shall be replaced by others that best preserve the purpose of the original clause.

Participation in the auction implies full acceptance of these Terms and Conditions of Sale.

Any modification or integration of these general terms shall be invalid unless made in writing.

Only the Italian version of these conditions is legally binding. Translations into other languages are provided for the convenience of the reader only. Inasta auctions are not subject to the right of withdrawal, as lots are displayed for viewing at Inasta's San Marino premises prior to bidding.

Goods will remain available to the buyer for a maximum of 30 days from the invoice date, which confirms storage at Inasta. If not collected within this period, or returned due to non-delivery or refusal (unless due to proven courier or postal errors), goods will only be resent upon reimbursement of shipping costs by the client.

The full auction is available at www.inasta.com. Bids may be submitted via Bid Inside (inasta.bidinside.com), by fax, or

email. Please visit the website for all necessary information.