AUCTION TERMS OF SALE

Last update October 2023

1) GENERAL

The following conditions (“Terms of Sale”) shall apply to the sale of products (hereinafter simply the “lots”) that VACCARI S.r.l., with offices in Via M.Buonarroti n.46, Vignola (Mo - Italy), e-mail info@vaccari.it, ph. +39 059771251, fax +39 059760157 (hereinafter also simply the “Vendor”), sells through the catalogue “ASTA - AUCTION” (Modena Police Offices Authorization of 13/4/2018) and for which the “Customer” may send bids to VACCARI S.r.l., through the website identified by the domain name www.vaccari.it (the “Website”), or by viewing the lots in the sale catalogue “ASTA - AUCTION”.

- For orders placed through the Website, by clicking on the checkbox “I accept” in the order summary section, the Customer confirms that he/she understands and agrees to these Terms of Sale in their entirety. In the event these Terms of Sale are not accepted, no product may be ordered from the Website.

Before sending bids, by sending the order form, the Customer is required to carefully read the Terms of Sale, and to print and save a copy for his/her personal records. After carefully reviewing the order, the Customer must agree to the Terms of Sale and acknowledge that he/she is placing an order with an obligation to pay (in case of knocking-down in his/her favour), by ticking the box “I accept the General terms of sale and I am aware that this is an order with payment obligation” in order to confirm his/her complete and binding acceptance of the Terms of Sale and then click on the button “send your order” to proceed with the sending of his/her bids.

- For orders placed by other means, by sending the order the Customer acknowledges that he/she understands and agrees to the following Terms of Sale in their entirety.

- The order form will be stored in the Vendor’s database for the amount of time it takes to process the order and as required by law.

2) WHO CAN MAKE PURCHASES

Purchases may only be made by:

(a) persons of legal age,

(b) persons with the legal capacity to enter into contracts.

If the Customer is a minor or is not legally permitted to enter into a contract, a parent or legal guardian must enter an order and agree to these Terms of Sale on that individual’s behalf. Any order made in violation of this provision shall be null and void.

3) PERSONAL DATA

- When placing an order the Customer will be requested to provide valid and up-to-date personal information, including his/her name, address, post code, fiscal code and e-mail address for the execution of the contract.

- Upon completion of the order process, the Customer will be asked to provide further personal information, including shipping address and payment details.

Resellers shall also transmit, besides their VAT number and fiscal code, any details necessary for the invoice.

- The Customer warrants that all personal information provided is true and correct.

4) DESCRIPTIONS OF LOTS

All lots are guaranteed to meet the descriptions contained in the catalogue “ASTA - AUCTION” and on the Website. The description of the lots is effected with the greatest care and in good faith, stating, for most of them, their quality and/or the postage stamp quality. Most lots have been reproduced in colour (also on the Website) and the reproduction is integral part of the description. The numbers in parenthesis at the end of each description indicate the Vendor references.

Any changes in case of mistakes are clearly indicated and included in the catalogue on the Website, which is, therefore, the one to be considered valid.

5) MINIMUM PRICE AGREED

In the description of each lot in the catalogue “ASTA - AUCTION” the reserve - or minimum price agreed - is expressed in euro.

Bids below that price will not be taken into consideration.

Any changes in case of mistakes are clearly indicated and included in the catalogue on the Website, which is, therefore, the one to be considered valid.

6) TERMS AND CONDITIONS FOR BIDS

NO REQUESTS FOR BIDS ONLY BY PHONE WILL BE ACCEPTED: it is necessary to send the order via post, fax, e-mail, internet (secure server).

- By sending the order the Customer sends to the Vendor his/her bid for one or more lots that the Customer has placed within the order. The Vendor reserves the right to refuse any order for reasons of expediency. The Vendor may also refuse, reject, or cancel an order in the event of pending litigation relating to the payment of a previous order, or if it deems that the Customer has violated the Terms of Sale, or for other legitimate reasons.

- Upon receipt of the order sent via e-mail or the Website by the Customer, the Vendor will send the Customer, via e-mail, confirmation of order receipt.

- REFERENCES: Customers not known to Vaccari S.r.l., in order to make their bids accepted (above all for phone and live bidding), should send reliable philatelic and/or bank references and they should send, together with the order form, copy (both sides) of identity document.

7) HOW TO TAKE PART

- Those who will view the lots on the days scheduled for the auction are liable for any damage they may cause to the lots.

- The Vendor avails itself of the unobjectionable faculty of joining, dividing or withdrawing any lot from the sale, of rejecting any bid, of cancelling any knocking-down in case of dispute.

- The joining of lots will not be possible (the live bidding system does not allow this procedure).

- Those who will send their bids, even on behalf of other Customers (agents), will abide in full by the Terms of Sale herewith, answering for the purchase in full.

MAIL BIDS

- Mail bids can be sent via post, using the order form, fax, e-mail, internet (secure server), and should be received by the Vendor not later than 5 p.m. (local time) on Friday 17 November 2023.

- In any bid, rounding up will be effected at the euro unit - NO DECIMALS.

- No complaints due to mistakes or negligence in filling written bid-forms will be accepted.

- NO “upon examination” bids or open choices between different lots will be accepted.

- During the auction, mail offers are managed up to the maximum amount indicated by the Customer.

- From the Website: after selecting a lot and digiting the bid, click the “hammer” to add the bid in the shopping cart. The Customer may then send additional bids for other lots and add them to the cart or proceed to check out by clicking on the button “proceed to fill personal data”; it is also possible to remove one or more lots from the cart.

- From the catalogue: after selecting one or more lots, the Customer must send the order form found inside the catalogue or on the Website, via post, e-mail or fax.

TELEPHONE BIDS - NOT PROVIDED

AUCTION ROOM BIDS - NOT PROVIDED

E-LIVE BIDDING

- It is possible to take part in the LIVE BIDDING auction, through a third parties site reached also from Vaccari site, upon registration and approval not later than 5 p.m. (local time) on Friday 17 November 2023.

- For those who take part in the live bidding auction, the Vendor is not responsible for any problem occurring before or during connection.

- Connection via mobile phone is not recommended to avoid possible signal delays or interruptions.

8) KNOCKING-DOWN

- Lots will be sold to the highest bidder. Lots that will receive a single bid, even if higher than the reserve price, will be knocked at the starting price. The knocking-down will be at one step more than the lowest bidding received as follows. Increments can be modified at discretion of the auctioneer.

up to euro 200 = euro 10

euro 201 - 600 = euro 20

euro 601 - 1.500 = euro 50

euro 1.501 - 5.000 = euro 100

euro 5.001 - 15.000 = euro 500

over euro 15.000 = euro 1.000

Example of knocking-down: lot X minimum price euro 350.00; first bid euro 375.00; second bid euro 420.00; knocking-down at euro 395.00.

- In case of equal bids for the same lot, the one received first takes precedence.

- At the end of the auction, all Customers will receive confirmation of their purchase or the notice of knocking-down not in their favour via e-mail or post. In case of knocking-down and payment by credit card, all necessary notices and information will be provided together with payment of lots.

9) PURCHASE PRICE

- THERE ARE NO ADDITIONAL CHARGES FOR COMMISSIONS and final bids are VAT inclusive.

- For foreign countries, Italian tax regulations will be applied. In case of shipping to non-EU countries, VAT and other import duties are to be paid by the consignee according to the regulations in force in the country of destination.

10) BILLING, COLLECTING OF LOTS AND SHIPPING

- Following the knocking-down of lots, the relevant invoice or equivalent document which includes the relevant taxes will be issued to the Customer at the address where the lots are sent.

- Collecting of lots. Customers can collect their lots personally by Vaccari S.r.l. seat (only upon appointment), or at VERONAFIL 1-2 December 2023 (Sunday excluded).

Postal charges. To the knocking-down price delivery charges (unit package) will be added. They include packing, shipping and insurance (no splitting out) covered by Lloyd’s London against theft or loss for the total amount up to destination.

ITALY

• euro 15.00 - POST - INSURED LETTER

ordinary - up to 1 kg - business days 3-5

• euro 15.00 - EXPRESS COURIER

ordinary - up to 10 kg - 48-72 hours

FOREIGN COUNTRIES

• euro 22.00 - REGISTERED LETTER A.R. up to 1 kg

ANY COUNTRIES - business days 4-7 Europe - 7-10 USA and any other countries

• euro 22.00 - EXPRESS COURIER up to 1 kg

ANY COUNTRIES - 24-72 hours

- All extra UE forwarding may be subject to customs control.

- Different kind of shipping under request.

- In case of shipping not included above and for bulky lots, to any destination, delivery charges will be added at cost + a small amount for packing and insurance.

- Shipping to Italy has traceability guaranteed and delivery from Monday to Friday, only working days. For shipping to foreign countries by POST, there is traceability only up to the Italian border.

- For shipping by COURIER, CONTACT PHONE NUMBER is mandatory (e-mail address recommended) and delivery is NOT possible to a Post-Office Box.

11) TERMS OF PAYMENT

- Payment, to Vaccari S.r.l., must be effected only in EURO, even for purchases outside Italy (NO other currency accepted), as follows:

a) when collecting lots, by Vaccari S.r.l. seat within 10 days from the auction date upon appointment (then payment will be in advance), or at Veronafil.

b) in advance within 10 days after receipt of notice of allocation (by e-mail and/or post); shipping of orders with payment IN ADVANCE will be effected upon receipt of payment note by the bank/post account (generally 1/2 working days);

c) within 10 days from receipt of the material, for Customers who have been authorized.

- CASH: please note that the use of cash is allowed only within the limits established by current Italian legislation.

- Payment should be effected as follows:

1) BANK transfer to BANCO BPM S.p.a. - bank branch of Vignola (Mo)

IBAN IT88R0503467070000000001401

BIC/SWIFT BAPPIT21408 (foreign countries)

2) CREDIT CARD (maximum euro 10,000.00) circuit VISA, MASTERCARD, AMERICAN EXPRESS and POSTEPAY - Customers will receive, via e-mail, the link to Nexi portal where to digit their credit card details

3) transfer or on-line draft to the POSTAL ACCOUNT no.11894417

IBAN IT93M0760112900000011894417

BIC/SWIFT BPPIITRRXXX (foreign countries)

4) bank/post cheque - NOT NEGOTIABLE - made out to Vaccari S.r.l. - only ITALY and only REGULAR Customers

5) PAYPAL - only for PAYPAL ACCOUNT owners (maximum euro 10,000.00), with a 3% surcharge, directly to paypal@vaccari.it.

- Deferred payment. The Vendor can arrange for payment to be effected by instalments for amounts higher than euro 500.00, provided that they are agreed before purchase (the Vendor may ask for sound guarantees). The maximum period is of 12 months and the rate of 4% yearly will be added.

12) NON-FULFILMENT

- Any unpaid material is subject to retention of ownership. Thus the transfer of ownership and delivery for such material shall only occur when payment is received in full.

- In case of non-payment within the agreed terms (within maximum 30 days from the sale, excluding deferred payments agreed), the Customer will lose claim rights considered at point 13.

- The Vendor shall deem the contract terminated and any partial payments will be withheld as a penalty for non-fulfilment of the agreement. The Vendor avails itself of the faculty of starting legal action to recover its credit, being entitled to damages and refund of relevant expenses. Until full payment of the amount due is made (including any charge and penalty), the Customer guarantees the Vendor with the purchased material. The Vendor is authorized (but not obliged) to sell the material above mentioned, without any formalities or notices, if the Customer is in arrears in making payment or does not satisfy commitments.

13) GUARANTEE AND CLAIMS

- The Customer may send any complaints and requests for information to the Vendor at the following address: Via M.Buonarroti n.46, Vignola (Mo - Italy), ph. +39 059 771251, e-mail info@vaccari.it, fax +39 059 760157.

- No claims will be accepted after 60 days from the auction sale date.

a) Besides initials or expertises the lots with the indication “P.V.” or “P.Vaccari” or “Paolo Vaccari” and with a return over euro 500.00 (excluding those formed by different items) will be accompanied by a free certificate of guarantee Vaccari S.r.l.

b) Customers have full right to apply to philatelic trusted Experts in order to verify what they have acquired. Material which is found not to correspond to Vaccari S.r.l. description can be returned within 15 days from shipping date, upon telephone notice. The items returned should be accompanied by minimum two expertises contrasting with Vaccari S.r.l. description, written by philatelic experts still in activity, to be sent within 30 days from items shipping date. On the Website some descriptions have also been translated into English. Anyway, the Italian text is the one to be considered for the above. The total amount will be returned where payment has already been made.

c) No complaints will be accepted for:

- lots formed by different items not described individually;

- lots in the sections (where present) “varie”, “lotti e collezioni”, “letteratura”;

- lots described as “qualità mista”, “da esaminare”;

- lots examined on the occasion of the auction, by one or more philatelic experts still in activity, on behalf of one or more Customers.

d) Extension. The Customer who wants to have an expertise different from the one indicated in the description of the lot (at his/her expense) must request it in the bid form or send a written request by 1 p.m. (local time) of the day before the auction. The Vendor has full right to accept or refuse the request. Should the request be accepted, the Customer will have to pay the lot following the regular procedure and will have 30 days from shipping date to return it, according to the indications for claims at point b.

14) MISCELLANEOUS

- Applicable law: this sale is governed exclusively by the Italian law.

- The court indicated in the Consumer Code shall have jurisdiction in the event of any disagreement.