Venini S.p.A. with registered office in Murano in Fondamenta Vetrai n. 50, CAP 30141, Venice, p. VAT. 00577980279 owner of the Venini trademark acts for the upward sale of items online. The online sale of objects included in the upward sales catalogs must be considered to have taken place directly between Venini and whoever, among the subjects (Bidders) who have submitted offers for the purchase of one or more objects, has submitted the best offer and is declared successful bidder (Buyer).
The items for sale are granted to the best Bidder, at the highest price reached at the expiry of the online sale. In the case of two offers of the same amount, the offer received first prevails.
Venini assumes no responsibility towards Bidders and Buyers.
Venini reserves the right to withdraw one or more objects from the sale, without notice and at its sole discretion, in the event that the objects on which offers have arrived will be considered not sold. Venini may not proceed with the sale of an object if the reserve price is not reached.
The items for sale are granted to the best Bidder, at the highest price reached at the expiry of the online sale. In the case of two offers of the same amount, the offer received first prevails. The bidders declare that they have carefully examined the objects and accept the possible award regardless of the description in the item's description in the sales catalog. The system automatically awards the items at the deadline of the online sale based on the offers received.
The sale price of the lot, possibly increased by tax charges, transport and customs duties, must be paid no later than 5 (five) working days following the end of the online sale, using the following methods:
Venini will hold the successful Bidder solely responsible for the payment of the amount due, except for any written communication previously approved by Venini, to participate as a Bidder on behalf of third parties. Only after receipt of payment in full the ownership and possession of the awarded object will pass to the Buyer.
Items sold through the Venini upside sale method will be delivered exclusively by courier or can be collected at our offices:
Fondamenta Vetrai n. 50
30141 Murano - Venezia, Italy
Via Giotto, 5
31021 Mogliano Veneto - Treviso, Italy
T +39 041 2737232
Buyers are required, for objects subjected to the procedure of declaration of cultural interest (so-called notification) pursuant to art. 13 and ss. Legislative Decree no. 42/2004 in compliance with all the provisions of the Code of Cultural Heritage and any other applicable legislation, including in customs, currency and tax matters.
It is the sole responsibility of the Buyer to verify any restrictions on the export of purchased items, any licenses or certificates required by law (issued or to be issued), with the express exemption of any obligation and / or liability on the part of Venini.
In case of exercise of the right of pre-emption pursuant to art. 60 et seq., Legislative Decree no. 42/2004, or compulsory purchase pursuant to art. 70 of the same law, the Purchaser will not be able to claim anything, for any reason, from Venini.
As in traditional auctions, upward sales are characterized by fully automatic bargaining, in which the buyer decides the price he is willing to pay for an item of his choice. Upward sales take place only online, on our website.
The operation of the upside sale is simple: the asset is put up for sale at a fixed minimum price, below which it will not be sold. The automatic bids sent by the upward sales system are made on the basis of a figure calculated on the percentage of the "base price", increases that accumulate at the starting price of trading, or the base price of the object put up for sale.
In the event that multiple bids are made on an object, whoever made the highest bid is the winner and the good is awarded. In addition to the reserve price, there is also another constraint in the negotiations represented by the maximum duration of the auction. After the duration of the online sale, negotiations stop, and the object is sold to the highest bidder.
In the upward sale, negotiations take place only virtually, in fact the technology adopted by Venini and the company systems perfectly integrated with the upward sale method allow our customers to access the auction anytime and anywhere, without any limitation of place or time. Participation in the sale is not necessarily direct as the monitoring systems for automatic bids are active 24 hours a day.
For the entire duration of the auction, participants are constantly notified of price changes and any raises, so that they can intervene directly in negotiations.
How do you participate in the upward sale?
Upward sales have two different types of catalog access:
⦁ Free access section, a purely informative area that offers details on the object offered for sale, the base price, the duration of the online sale and the estimate of the object
⦁ Section with controlled access, accessible only after registering on the site
To participate in the online sale, you must be logged in to the system using a user ID and password obtained during registration. Credentials can also be made available to certain types of users by Venini, sent directly to a verified e-mail box.
After activating the platform access credentials, you can access the individual items for sale and make offers through the bargaining features of the bid system, by entering a maximum bid. The bargaining system creates automatic emails, or push notifications if you are using an iOS app. The e-mails sent by the system are intended to inform participants who have sent an offer for an item for sale on the status of the desired item.
After the closing date of the online bidding negotiation, the buyer will receive all the information necessary for the balance of their purchases.