Come and see us from Friday 4 September, from 9.30 am to 11.30 am. We’ll be at 1 Rue des Gabares. Advance sales of precious metals are possible, subject to certain conditions. Valuation The preliminary valuation of an item is the first stage of the auction. It represents the item’s potential value, determined following an expert appraisal and expressed as a price range, from a low estimate to a high estimate. Please note: the estimate provided by the auctioneer or an expert is not the selling price, nor is it a guarantee that the item will be sold at that price. It is a guide for the seller and bidders. The reserve price The seller may request that their item not be sold for less than a certain price, known as the reserve price. This reserve price may not exceed the low estimate for the item. It must be agreed in writing between the seller and the auction house. If the reserve price is not met during the auction, the unsold item is ‘withdrawn’; it is returned to its owner or put up for sale again with the owner’s consent, either by private treaty or at a subsequent auction. The sale guarantee Authorised Auction Houses (OVVs) may guarantee the seller a minimum hammer price. If the guaranteed price is not reached, the OVV may purchase the item on its own account at the guaranteed price and put it up for sale again, or pay the seller the difference between the hammer price and the guaranteed price. The so-called ‘after-sale’ If the lot has not found a buyer at auction, the law allows the auction house, with the seller’s consent, to proceed with the sale of that lot ‘by private treaty’, that is to say, directly to a person who has made a fixed-price offer to purchase it
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