TERMS AND CONDITIONS OF THE WORLDWIDE CHARITY AUCTION FOR THE FAMILIES HIT BY THE EARTHQUAKE IN THE EMILIA REGION
Ferrari S.p.A., (hereinafter the “Vendor”), headquartered at via Abetone Inf. 4, 41053 Maranello (MO), Italy, registered with the Chamber of Commerce of Modena under REA number MO-88683, VAT Number No. 00159560366, email: customercare@ferraristore.com, is organizing a charity auction to take place from June 6 to June 20, 2012, to sell the following Items with proceeds to benefit the families affected by the earthquake in the Emilia Region:
- Lot 1: Ferrari 599XX evo;
- Lot 2: Musetto F1;
- Lot 3: Engine Ferrari V8 F1 2008;
- Lot 4: Original Helmet of the driver Fernando Alonso (2011-2012);
- Lot 5: Gloves of the driver Fernando Alonso (2011-2012);
- Lot 6: Under Tracksuit of the driver Fernando Alonso (2011-2012);
- Lot 7: Original Helmet of the driver Felipe Massa (2011-2012);
- Lot 8: Gloves of the driver Felipe Massa (2011-2012);
- Lot 9: Under Tracksuit of the driver Felipe Massa (2011-2012);
- Lot 10: Tracksuit F1 of Giancarlo Fisichella.
The fairness and impartiality of the auctions of each item will be monitored by STUDIO NOTARILE VEZZI, located at Corso Canalgrande n.36 – 41121, Modena (hereinafter the “Designed Notary”), who will receive the bids, supervise the development of the auctions, and proclaim the Successful Bidder of each item according to the present Terms and Conditions.
Recipients of the funds raised by the Auctions herein:
The funds raised by the charity auctions will be donated to the families hit by the earthquake in the Emilia Region in the ways that will be announced prior to the end of the auctions. Families of the persons hit by the earthquake are defined as the individuals specified in Article 536 of the Italian Civil Code, and namely the heirs (i.e. spouse/husband, children and the legitimate ascendants), who will be the beneficiaries in equal share.
1. Conditions of the Auction:
The purchase of an Item by a successful bidder at the end of each auction shall be regulated by the present Terms and Conditions and, if not otherwise regulated, by the Conditions of Sale applicable to the purchase of a good on the web site http://store.ferrari.com.
2. Requirements of participation in the auctions:
Participant must be at least 18 years old subject of the Terms and Conditions;
Participation in the auctions herein is subject to the preliminary approval of the bidder according to the Terms and Conditions of sales;
The Vendor reserves the rights, at its sole discretion, to exclude any bidder from participation in the auctions.
3. Items offered at auction:
The following Items will be offered at auctions:
- Lot 1: Ferrari 599XX evo;
- Lot 2: Musetto F1;
- Lot 3: Engine Ferrari V8 F1 2008;
- Lot 4: Original Helmet of the driver Fernando Alonso (2011-2012);
- Lot 5: Gloves of the driver Fernando Alonso (2011-2012);
- Lot 6: Under Tracksuit of the driver Fernando Alonso (2011-2012);
- Lot 7: Original Helmet of the driver Felipe Massa (2011-2012);
- Lot 8: Gloves of the driver Felipe Massa (2011-2012);
- Lot 9: Under Tracksuit of the driver Felipe Massa (2011-2012);
- Lot 10: Tracksuit F1 of the driver Giancarlo Fisichella.
For each item the following information will be published on the web site at http://store.ferrari.com:
- A description of the item along with a photograph;
- The suggested opening bid;
- The highest bid received by the Designed Notary.
4. Type of auction
English Auction
Lots offered for auction will be awarded to the highest bidder, starting from the minimum price (the suggested opening bid price) published on the site and within the time limits of the duration of the auctions (commencing at 16:00:01 CET on June 6 until 15:59:59 CET on June 20, 2012).
opening bid prices:
- Lot 1: Ferrari 599XX evo: 1.350.000 EURO;
- Lot 2: Musetto F1: 15.000 EURO;
- Lot 3: Engine Ferrari V8 F12008: 50.000 EURO;
- Lot 4: Original Helmet of the driver Fernando Alonso (2011-2012): 15.000 EURO;
- Lot 5: Glove of the driver Fernando Alonso (2011-2012): 1.000 EURO;
- Lot 6: Under Tracksuit of the driver Fernando Alonso (2011-2012): 400 EURO;
- Lot 7: Original Helmet of the driver Felipe Massa (2011-2012): 15.000 EURO;
- Lot 8: Glove of the driver Felipe Massa (2011-2012): 1.000 EURO;
- Lot 9: Under Tracksuit of the driver Felipe Massa (2011-2012: 400 EURO;
- Lot 10: Tracksuit F1 of the driver Giancarlo Fisichella. 2.500 EURO
5. Submission of a bid
The submission of a bid on a Lot constitutes acceptance of the conclusion of a binding contract of sale on the Lot itself.
By submitting a bid, the bidder undertakes to purchase the item at auction pursuant to the Terms and Conditions and, if not otherwise regulated, according to the above-referenced Conditions of Sale, should his or her bid be the highest at the end of the auction.
To submit an offer, a bidder shall complete the Bidding Form and send it, duly executed, to the Designed Notary, via fax at the number +39 059 219696 or via email at silvio.vezzi@postacertificata.notariato.it, enclosing a copy of a valid identification document and providing the IBAN number of the bidder’s bank account, in absence of which the bid will not be accepted.
The bid submitted constitutes an irrevocable offer by the bidder.
6. Knock Down of a Lot
Each Lot will be knocked down to the bidder who has submitted the highest bid at the end of the Auction (herein also the “Successful Bidder”).
Notification of the awarding of a Lot will be made by the Designed Notary by Certified Email and Registered Mail to the Successful Bidder.
7. Payment of Lot
The full payment of the Lot awarded shall be made within 48 hours from the receipt of the notification of the awarding of such Lot via wire transfer. Value Added Tax (VAT) may be payable on the hammer price, according to the applicable law.
Bank transfer shall be addressed as follows:
BANCA POP. DELL'EMILIA
Via San Carlo 8/20 Modena
IBAN: IT46 L 0538712900000000894454
SWIFT CODE: BPMOIT22XXX
Title to the property of the Lot will pass to the Successful Bidder only after the Vendor has received the hammer price in full.
As a consequence of any default or delay in payment by the Successful Bidder, in whole or in part of the total amount due, the Vendor is entitled to request, at its own discretion, the fulfillment or termination of the agreement ex article 1454 of the Italian Civil Code, in addition to the right to seek damages and the option to proceed with the offering for sale of the Lot via an auction at Successful Bidder’s expenses, ex. art. 1515 of the Italian Civil Code.
8. Delivery of Lot
Delivery of the lot knocked down will take place in Maranello at the Vendor’s headquarters and will be finalized directly with the Successful Bidder.
The Successful Bidder is entitled to request that the Lot be delivered to a different location from the one specified in the agreement. The shipping and insurance charges shall be borne solely by the Successful Bidder who shall indicate, in writing, the new delivery location for the item.
At the time of the delivery of the item, the Vendor shall require production of documentation establishing the identity of the Successful Bidder which shall be the same identification documentation provided with the Bidding Form. The Lot will be delivered to the Successful Bidder or to his or her authorized substitute only upon receipt of the full hammer price in cleared funds.
The majority of the items shall be made available for delivery in the month following the notification of the awarding to the Successful Bidders. The delivery of lot 3 (Original Helmet of the driver Fernando Alonso - 2011-2012) and lot 6 (Original Helmet of the driver Felipe Massa - 2011-2012) shall be made after the conclusion of the current Formula 1 season (December 2012).
9. Transfer of risk
Title to the property, and the related risks in the property, shall pass to the buyer upon payment of the full hammer price in cleared funds.
The packaging and shipping of the Lot to the Successful Bidder who has elected not to take delivery at Maranello are assumed entirely at his or her own expense and risk, and under no circumstances shall the Vendor take responsibility for the acts or omissions of carriers or packers.
10. Export from Italy
The export of any property from Italy, or the import of any property to foreign country, may be subject to one or several certificates (export or import).
The Successful Bidder is solely responsible for obtaining any necessary free movement certificates or import licenses. Failure to provide or delay in the issuance of any license/certificate does not constitute cause for termination or cancellation of the sale by the Successful Bidder.
11. Applicable Law and Jurisdiction
The present Terms and Conditions shall be governed by Italian Law.
All disputes arising out or in connection with the present agreement shall be settled by the courts of Modena, Italy, except where different laws in favour of the Successful Bidder will apply.
12. Final Provisions
Vendor reserves the right to amend the present General Conditions of Sale at any time. The amended general terms and conditions shall be made available at http://store.ferrari.com.
Should any of the present terms or conditions of Auction be or subsequently become null and void or for any other reason invalid, this shall not influence the applicability of the remaining provisions. In such case, the invalid term will be replaced by a term reflecting more closely the original intent and economical aim.
For any other information related to the legal aspect connected to the processing and protection of the personal data of the bidders, please refer to the Privacy Policy published on the web site at: http://www.ferrari.com/English/Pages/Legal.aspx#trattamento_dei_dati_personali.
