How to buy at our auctions

Buying at auction

To find the items that interest you, you can:

  • consult the upcoming auctions’ calendar online and browse the catalogues;
  • visit the exhibitions preceding our auctions that are always open to the public;
  • register for our newsletter to receive e-mail updates so you never miss a sale that interests you;
  • request a hard copy of the catalogues by asking the department of interest;
  • create an account on our auction portal to keep track of sales and lots, view condition reports online and save your preferences.

Participating in our auctions

If you are a private individual, it is necessary to register by providing a government-issued photo ID (identity card, passport or driving license) and your full contacts details (address, e-mail address and telephone number).

If you are a company or an organisation, it is necessary to register by providing the Chamber of commerce company registration and a government-issued photo ID of the owner.

It will be possible to leave offers up to 24 hours before the auction or participate directly in the auction room after registering at the reception.

For some types of sales, a deposit or financial references may be required as a condition for allowing your participation.

There are four ways to participate in Finarte auctions:

  1. In-person: after registering at the reception at the auction venue, you can bid in person in the salesroom by using the numbered paddle you’ll be provided with;
  2. Telephone bid: you would need to fill in the form for the telephone bids and then send it by e-mail or fax at least 24 hours before the auction to the Bid Office. We will call you directly and bid on your behalf;
  3. Absentee bid: you would need to fill in the form for the absentee bids and send by e-mail or fax at least 24 hours before the auction to the Bid Office. You can also place an absentee bid through our platform, by logging into your profile and selecting the lot and the amount of your offer though a tent menu;
  4. online: it is possible to register on our auction platform and participate in the auction in real-time by making your bids from the web.

 

If you need further assistance while registering to make an offer, contact the relevant Bid Office using the contact information listed below:

 

Online bid office in Milan

 

Online bid office in Rome

 


Buyer’s Premium

A fee is added to the hammer price, which the buyer is required to pay as part of the amount due.

if not specified differently, buyer’s premium is calculated as follows:

    • 22,96 + VAT of the Hammer Price of the lot, up to a maximum of Euro 2.999,99;
    • 21,32 + VAT of the Hammer Price of the lot in excess of Euro 3.000,00 up to Euro 9.999,99;
    • 19,68 + VAT of the Hammer Price of the lot in excess of Euro 10.000,00 up to Euro 59.999,99;
    • 18,04 + VAT of the Hammer Price of the lot in excess of Euro 60.000,00 up to Euro 99.999,99;
    • 16,40 + VAT of the Hammer Price of the lot in excess of Euro 100.000,00 up to Euro 299.999,99;
    • 12,30 + VAT or any part of the Hammer Price in excess of Euro 299.999,99.

For further information read: Conditions of Sale


Resale Royalty’s or Artist Resale Right

The Artist Resale Right is the right of the authors of works or manuscripts and their heirs, where applicable, to receive a resale royalty when their work is sold. The fee is due only if the sale price surpasses € 3,000 and is thus determined:

  • 4% for the part of the sale price between € 3,000 and € 50,000;
  • 3% for the part of the sale price between € 50,000.01 and € 200,000;
  • 1% for the part of the sale price between € 200,000.01 and € 350,000;
  • 0.5% for the part of the sale price between € 350,000.01 and € 500,000;
  • 0.25% for the part of the sale price exceeding € 500,000.

 

The buyer has to pay for the Artist’s Resale Right.

For further information read: Conditions of Sale


Payment and collection of lots

The payment of the lots purchased in the auction must be made within seven days from the date of the sale.

Payment can be made in the following ways:

  • cash for amounts less than € 2,999.99;
  • wire transfer;
  • ank draft and check (note: the lots will be delivered after the check has been cashed – 3 days from the date of the transaction);
  • ATM, Paypal or credit card (American Express, Visa or Mastercard).

 

After the payment, you can:

  • arrange an appointment with the department for collection;
  • request a shipping quote for the shipment of the purchased lots by contacting the shipping office of the auction’s venue (Milan or Rome).

 

IMPORTANT REMINDER

To export works of art that are more than 70 years old, the Italian law requires a certificate of free circulation.

The waiting time for the release of this document is about 40 days from the presentation of the work and related documents to the Fine Arts Superintendence. The certificate is valid for three years since its issuance, and it is non-renewable.

If you are a winning foreign bidder, you should immediately contact the competent department about the purchased work. Failure to issue or delay the release of the license does not constitute a cause for termination or cancellation of the sale, nor does it justify the payment delay by the buyer.

 

For further information:

 

Administration department in Milan

 

Administration department in Rome