ROLEX YACHTMASTER 116621

the lots are put up for sale on the lot-tissimo platform by VERONIK WATCHES, which acts as exclusive agent, in the name and on behalf of each Seller. The effects of the sale affect the seller and VERONIK WATCHES does not assume any liability towards the Buyer or third parties in general other than that deriving from its role as agent. The items are awarded to the highest bidder. In submitting their offer, the bidder assumes personal responsibility for paying the hammer price including the auction fee, any taxes due and any other applicable charges,

THE OFFER IS NON-WITHDRAWABLE

FAILURE TO PAY WITHIN THE AGREED TERMS OR WITHDRAWAL WILL RESULT IN THE REVOCATION OF THE AWARD AND THE CHARGING OF ALL CHARGES.

NON-PAYMENT WITHIN THE AGREED TERMS WILL RESULT IN THE REVOCATION OF THE AWARD

NON-PAYMENT WITHIN THE AGREED TERMS WILL RESULT IN THE REVOCATION OF THE ATTRIBUTION

VERONIK WATCHES WILL IN ANY CASE BE REQUIRED TO COLLECT (EVEN FORCED) A PENALTY EQUAL TO THE AMOUNT OF THE AWARD RIGHTS AS COMPENSATION FOR THE EXPENSES INCURRED FOR THE AUCTION.

A PENALTY WILL BE PAID TO VERONIK WATCHES EQUAL TO THE AMOUNT OF THE AWARD RIGHTS AS COMPENSATION FOR THE EXPENSES INCURRED FOR THE AUCTION. (EVEN IN A STRICT WAY) A PENALTY WILL BE PAYED TO VERONIK WATCHES, ÉGAL AU MONTANT DES DROITS D'ATTRIBUTION À TITRE DE COMPENSATION POUR DÉPENSES ENGAGÉES POUR L'ENCHÈRE. (MÊME DE MANIÈRE STRICTE) VERONIK WATCHES RESERVES THE RIGHT TO WITHDRAW FROM THE AUCTION OR REVOKE THE AWARD OF ANY LOT IF THE BIDS MADE AT THE AUCTION DO NOT REACH THE RESERVE PRICE AGREED WITH THE SELLER, IF ANY.

VERONIK WATCHES RESERVES THE RIGHT TO VALIDATE THE AWARD BASED ON THE ACTUAL CORRESPONDENCE AND/OR INTEGRITY AND/OR AVAILABILITY OF THE ITEM AT AUCTION IN ORDER TO PROTECT THE BIDDERS.

Neither VERONIK WATCHES, nor its directors and employees will be liable for acts or omissions relating to the preparation or conduct of the auction or for any matter relating to the sale of the work.

VERONIK WATCHES does not issue certifications relating to the gems sold, but offers at auction products that are already certified or with the indications provided by the proposers of the products to be auctioned. The various types of certification (GIA, IGI, AIG, SGL, and possibly others) are opinions of prestigious gemological institutes recognized and authorized at an international level. VERONIK WATCHES, as an intermediary, assumes no responsibility for such evaluations of the institutes issuing the certificates nor for the indications provided by the proposers of the products.

VERONIK WATCHES reserves the right to extend the auction at the request of the bidder without prior notice.

2.. AUCTION FEES

The successful bidder will pay VERONIK WATCHES an auction fee of 25%

VERONIK WATCHES will apply the margin regime to the aforementioned fees.

In other cases, VAT is applied to lots delivered by Sellers subject to VAT who will be subject, in addition to the VAT calculated on the Auction fee, also to VAT on the hammer price.

3. PARTICIPATION IN THE AUCTION

Before each Auction, all participants are required, in order for a possible award to be valid, to fill out a participation form on the portal with their personal data. It should be noted that, in any case, VERONIK WATCHES reserves the right not to accept offers.

4. DESCRIPTION OF LOTS

VERONIK WATCHES acts as an agent for the Sellers and declines all responsibility for the description of the items. After the award, neither VERONIK WATCHES nor the Sellers may be held responsible for defects relating to the state of conservation, incorrect attribution, authenticity, provenance, weight or lack of quality of the items. Neither VERONIK WATCHES nor its staff may issue any guarantee in this regard, except in cases provided for by law. The consumer is informed of the rights he is entitled to pursuant to art. 130 of the Consumer Code (in particular with regard to the consumer's right to have the conformity of the goods restored, free of charge, and the duration of the guarantee) that there is no lack of conformity if, at the time of purchase, the buyer was aware of the defect or could not have ignored it with ordinary diligence. In the case of lots of precious or semi-precious stones with multiple items, the carat refers to the total weight.

5. PAYMENT OF THE PRICE

The total payment of the hammer price including the charges may be immediately requested by VERONIK WATCHES, in any case it must be paid in full, in Euros, within four days of the award. The payment and collection of the lots must be made as specified on the proforma invoice page sent at the end of the auction. In default VERONIK 

WATCHES, without prejudice to the compensation for greater damages, may:

proceed with the forced execution of the obligations arising from the purchase;

sell the lot by private negotiation or in a subsequent auction to the detriment of the Awardee, retaining any advance payments received as a penalty.

The object will be kept by VERONIK WATCHES at the risk and expense of the Awardee until it is sold as above or returned to the Seller at the request of the latter. In any case, until the date of return or sale, the Awardee will be required to pay VERONIK WATCHES a penalty equal to the interest, calculated on the hammer price plus the Auction costs, at the interbank rate in force increased by two points; the interest thus calculated will be applied to the sums due starting from the eighth day following the date of the award.

6. COLLECTION OF LOTS

The successful bidder, having paid the hammer price and the auction fees, must collect the purchased lots at his own risk and expense no earlier than 5 working days after payment. After this period, VERONIK WATCHES will be exonerated from any liability towards the successful bidder in relation to the custody, any deterioration of the objects and will have the right to transfer the uncollected lots at the expense and risk of the buyer to its offices or public or private warehouses. Upon express request, VERONIK WATCHES may organize, at the expense and risk of the successful bidder, the transport and insurance of the lot.

7. DEROGATIONS

Notwithstanding any provision to the contrary contained herein, VERONIK WATCHES reserves the right to agree with the successful bidders on special forms of payment, to store in a public/private warehouse or sell privately the lots awarded and not collected, to insure the awarded lots, to resolve disputes and claims made by or against the Successful Bidders and in general to undertake any initiative deemed appropriate in order to collect sums owed by the Successful Bidder and also, depending on the circumstances, to cancel the sale.

8. INFORMATION ON THE LOTS

The goods are sold in their current state. "At best" or "subject to inspection" offers are not accepted. The department responsible for the Auction will be happy to provide information reports upon request which represent only the opinion of our experts and may be subject to possible revisions. All information on metal hallmarks, carats, quality and weight of gold, diamonds and coloured gemstones are to be considered purely indicative and approximate. VERONIK WATCHES cannot be held responsible for any errors contained in the above information and for the artful forgery of precious objects. Some weights in the catalogue have been determined by measurements. These data must be considered only as a rough indication and should not be taken as exact. VERONIK WATCHES does not guarantee any certificates enclosed with the precious items carried out by independent gemological laboratories, nor the authenticity of gems sealed in blister packs of which VERONIK WATCHES only verifies the external integrity of the seal, even if references to such tests may be cited for information purposes for the successful bidders.

9.POSSIBLE CLAIMS OF THIRD PARTIES ON THE LOTS

In addition to any other obligation or right provided for in these Conditions of Sale, VERONIK WATCHES, in the event that it has been informed or becomes aware of any claim or right of third parties relating to the ownership, possession or detention of the Lot, may, at its discretion, retain the Lot in custody pending the resolution of the dispute or for the entire period deemed reasonably necessary for such resolution.

10. ANTI-MONEY LAUNDERING

The customer acknowledges and accepts, pursuant to and for the purposes of art. 22 Legislative Decree no. 231/2007 (Anti-Money Laundering Decree), to provide all necessary and updated information to allow VERONIK WATCHES to fulfill its customer due diligence obligations. It is understood that the completion of the transaction is subject to the release by the Customer of the information requested by MAC for the fulfillment of the aforementioned obligations.

Pursuant to art. 42 Legislative Decree no. 231/07, MAC reserves the right to abstain and not conclude the transaction in the event of objective impossibility to carry out adequate customer verification.

11. APPLICABLE LAW

This contract is governed by Italian law.

12. DISPUTES

These Conditions of Sale are automatically accepted by those competing in the Auction and are available to any interested party who requests them. For any dispute, the jurisdiction of the Court of FERRARA is established. It is specified that the clause derogating from the jurisdiction of the co