The sales mandate is the contract by which the owner of the property comprising one or more items gives the Auction House, CapitoliumArt, permission to sell those items according to the conditions contained therein. This contract is completed in duplicate upon consignment of the lots, the original remains at the auction house and the copy goes to the customer. Where items are consigned by courier the mandate must be completed in original and sent with the items. The customer copy will be sent to the customer later.
Commission payable to the auction house is 30% of hammer prices below €500 and 15% above €500.
Transport and insurance costs
Transport and insurance costs are paid by the customer. The cost of insurance is 1% calculated on the total of the reserve prices on the sales mandate for "nail to nail" cover. This is paid in advance by the auction house and deducted at the time of payment. In the case of lots not sold the insurance cost must be paid by the client before items are returned.
Resale right (Droit de suite)
For modern artworks subject to resale right, an additional percentage will be applied, calculated as follows: applicable work: original works of fine art such as paintings, "collages", drawings, engravings, prints, lithographs, sculptures, tapestries, ceramics, glass works, photographs and original manuscripts; copies of works of fine arts produced in limited numbers by the author or under authority fromthe author, provided they are numbered, signed or duly authorised by the author. Fees: the fee is calculated on the sale price, net of tax, on a percentage basis, which varies according to the different brackets, as follows: 4% for the portion of the sale price of between €3,000.00 and €50,000.00; 3% for the portion of the sale price of between €50,000.01 and €200,000.00; 1% for the portion of the sale price of between €200,000.01 and €350,000.00; 0.5% for the portion of the sale price of between €350.000,01 and €500,000.00; 0.25% for the portion of the sale price exceeding €500,000.00, subject to a maximum payment of €12,500.00.
If requested by the customer, the auction house will put unsold lots to auction again at a leter date, on condition that the reserve prices are lowered. Otherwise these lots must be picked up within thirty days from the auction date at no additional charge. After this deadline storage costs will apply.