TERMS OF SALE - SCUOTTO NUMISMATICA 

The Italian text of these General Conditions - https://numismaticascuotto.bidinside.com/it/cnt/11/condizioni-di-vendita/  - will be the only one to produce effects between the Parties and may be used overriding any translation; this translation / version in English is a simple convenience for our customers.

Anyone participating in auctions organized by Scuotto - Numismatica & Collezionismo must adhere to the following terms of sale.

Authenticity of Lots
All coins, medals, watches, jewelry, collectible pens, and movable property sold in individual lots by Numismatica Scuotto di Scuotto Gaetano (hereinafter NSDSG) are guaranteed to be authentic. NSDSG certifies the authenticity of each item sold.

1. VAT REGIME (MARGIN SCHEME)

All sales conducted by Numismatica Scuotto di Scuotto Gaetano (hereinafter "NSDSG") are based on commission agreements with private consumers or VAT-registered entities operating under the margin scheme, governed by Article 40bis of Decree-Law no. 41/95 and subsequent amendments. Under this regulation, NSDSG does not apply VAT to the services provided to buyers or sellers, nor to the final hammer price of the lot.

2. BUYER'S COMMISSION

The buyer of each lot is required to pay a total amount that includes: 

The hammer price of the lot.

A commission of 21% (VAT included) on the hammer price.

3. GENERAL TERMS

All items for sale are the property of third parties, who guarantee their legitimate provenance and declare they are free from liens or encumbrances (e.g., pledges, seizures, etc.). The lots are sold at public venues by NSDSG, acting as an exclusive agent in its name but on behalf of each seller, whose identity is recorded in NSDSG's Public Security registers. The effects of the sale impact solely the seller; therefore, NSDSG assumes no responsibility toward the buyer or third parties, except as part of its role as an agent. This sale constitutes an aleatory contract, and under Article 1488, paragraph 2 of the Civil Code, warranty for eviction is excluded.

4. PARTICIPATION IN THE AUCTION

Participation in the auction can occur via written bids submitted at least 24 hours before the event (both for in-person and online auctions). These bids may be submitted through the NSDSG website or other authorized platforms, by mail, email, or telephone (with subsequent written confirmation in this case). No additional fees will be charged for bid management beyond the specified commission. By signing the bid form or registering online, participants expressly and formally accept these terms.

It is possible to indicate alternative lots on the order form, provided these bids are submitted before the deadline for telephone bid requests (48 hours before the auction). NSDSG reserves the right not to accept ambiguous or unclear bids (e.g., “…% above the highest bid”). Bids must respect a minimum increment of €5 for small amounts and will be rounded accordingly.

NSDSG reserves the right to reject telephone participation requests for lots with a starting bid below €200. Telephone participation must be arranged at least 48 hours before the auction and confirmed in writing 24 hours prior, including the lot numbers, phone number, full personal details, and signature. In cases where the buyer cannot be reached by phone (e.g., busy line, incorrect number, technical issues, or data transcription errors), NSDSG is not liable.

Items are awarded to the highest bidder. NSDSG will not accept transfers of awarded lots to third parties and will hold the bidder directly responsible for payment. Bidding on behalf of third parties is permitted only with a notarized special power of attorney and appropriate bank references.

During the auction, NSDSG reserves the right to withdraw lots, combine or separate lots, or modify the order of sale at its discretion. The buyer will pay NSDSG a buyer's premium of 21% (VAT included). 

5. BID INCREMENT TABLE

6. SHIPMENTS AND PAYMENTS

Lots are shipped via insured parcels unless otherwise requested in writing by the buyer. Shipping and insurance costs vary and are detailed in the regulations; for amounts exceeding €10,000, private couriers will be used, with costs determined at the time of shipping. For heavy lots, costs will be calculated and agreed upon before shipment. 

The full payment of the hammer price and auction fees is immediately due to NSDSG and must be made within seven days of the sale. In the event of non-payment, NSDSG may take legal action or resell the lot, retaining any deposits received. NSDSG will store the item at the buyer's expense and risk until it is sold or returned to the seller, with penalties calculated on the interest of the hammer price plus two percentage points.

7. LOT DESCRIPTION AND AUTHENTICITY

The lot descriptions in the catalog are subject to public review. Items for sale are carefully examined and guaranteed as authentic, with no time limit. Buyers must inspect lots in person or appoint an expert to verify their condition before purchase; post-sale claims regarding condition or other features will not be accepted. NSDSG accepts no responsibility for errors, typos, or incorrect catalog information.

8. CATALOGING AND PHOTOGRAPHY

Cataloging is based on authoritative reference texts to facilitate the identification of lots. Lot photographs must not in any case conceal or alter defects. In the event of discrepancies between photos and textual descriptions, the text will always prevail.

9. LOT GRADES

a) Coins and Medals

Grades are subjective assessments, adhering to international standards for coins and medals:

FDC (Mint State): Flawless, uncirculated condition.

SPL (Extremely Fine): Minimal wear, no major defects.

BB (Very Fine): Signs of circulation, visible details.

MB (Fine): Noticeable circulation marks.

B (Good): Lower quality.

b) Watches

Descriptions of watches are carefully and competently provided but are indicative; buyers are encouraged to verify them in person. NSDSG does not guarantee the functioning of watches, which are sold "as is" with no post-sale claims allowed. Professional servicing is recommended. Watches cannot be inspected during the auction; viewings must be arranged in advance. Upon request, NSDSG can provide photos, videos, and phone support.

c) Jewelry

Jewelry descriptions are indicative and do not replace direct examination. Each item is sold "as is," with no post-sale claims allowed. Pre-auction viewings can be scheduled with NSDSG. Photos, videos, and phone support are available upon prior request. 

d) Pens

Pens are described with care, but buyers are encouraged to inspect them personally. Each pen is sold in its current condition, with no post-sale claims allowed. Pens cannot be inspected during the auction; NSDSG offers photos, videos, and phone support upon prior request. 

10. CLAIMS 

Claims are allowed within one year only for authenticity concerns. Claims regarding condition or clearly stated defects are not accepted. Returns must be shipped via insured parcel with proper packaging.

11. EXPORT OF LOTS

Customs expenses (duties, taxes, excise duties, and any other related costs) and export fees are the responsibility of the buyer. To export any item over 50 years old, a Free Circulation Certificate must be issued by the Ministry of Cultural Heritage. NSDSG will submit the request for this certificate on behalf of the buyer. The process to obtain export authorization typically takes at least 10 to 12 weeks. Temporarily imported lots cannot be collected by buyers; they must be shipped by NSDSG at the buyer’s expense.

The issuance of the export permit requires the submission of specific applications to the Ministry of Cultural Heritage through the SUE internet service:

• For lots valued below €13,500: A Self-Certification (DVAL) is required, with an estimated processing time of approximately 50 to 60 days from the submission of the application to the competent Export Office.
• For lots valued at €13,500 or higher: A Free Circulation Certificate (ALC) is required, with an estimated processing time of 10 to 12 weeks from the submission of the application to the competent Export Office.

The auction house will submit export requests on behalf of the buyer only after receiving full payment and issuing the final invoice (which, by law, transfers ownership of the item from the consignor to the buyer). However, NSDSG is not responsible for the outcome and/or processing times of these applications.

12. MISCELLANEOUS

Buyers are responsible for complying with Italian regulations regarding items notified by the State. Lots not illustrated in the catalog are marked with an asterisk (*) and are viewable only online.

13. PRIVACY

NSDSG processes personal data, which is optional but necessary for auction participation, for the execution of sales contracts and other business purposes. Registration allows the sending of catalogs and informational material. NSDSG reserves the right to record auction sessions and telephone communications.

14. COMMUNICATIONS 

All communications related to the sale must be sent via registered mail to the address provided by NSDSG:

Numismatica Scuotto di Scuotto Gaetano

via Cesare Battisti, 14

81100 Caserta

Italy

15. JURISDICTION

These Terms of Sale, governed by the laws of the Republic of Italy, are tacitly accepted by all participants. Any disputes will be exclusively under the jurisdiction of the Court of Santa Maria Capua Vetere (Caserta), excluding other courts.