PHIDIAS acts as an operator of voluntary sales of furniture by public auction governed by articles L321-4 et seq. of the French Commercial Code and as the seller's agent. The relationship between PHIDIAS and the buyer is subject to the present terms and conditions of purchase, which may be amended by written or oral notices prior to the sale and mentioned in the minutes of the sale. Participation in the auction, whether in the auction room, by telephone or via the internet, implies acceptance of these conditions. Live auctions are conducted via Drouotlive.com, which is a technical platform enabling remote and electronic participation in public auctions. Users wishing to take part in a sale via drouotlive.com shall read and accept without reservation the terms and conditions of use of this service provider, which can be viewed at www. drouotlive.com. These terms and conditions are independent of and in addition to these general terms and conditions of sale. GENERAL TERMS AND CONDITIONS In accordance with current legislation, sales are expressly made in cash and in euros. All items are sold in the condition in which they are at the time of sale. No claim will be possible once the sale has been announced, in particular with regard to restorations and/or minor accidents. As the successive exhibitions have enabled the condition of the items presented to be ascertained, it is the responsibility of the bidders to examine each item before the sale and to rely on their own judgements and verify their conformity with the description given in the catalogue. THE BIDS Bidders will pay the main price of the last bid plus a sales commission of 25% (including VAT) per lot. An additional fee of 3% excluding VAT, i.e. 3.6% including VAT, will be added for all buyers for ONLINE sales. Lots marked with * are subject to temporary importation into France. The buyer undertakes to pay, in addition to the main commission, import VAT of 5.5% on the hammer price for furniture and works of art and 20% for jewellery, watches, wines or multiples. The order of the catalogue will be respected. However, the auctioneer conducting the sale reserves the right to change the order by informing the bidders. The buyer will be the highest and last bidder. He will be obliged to give his name and address. PHIDIAS will consider that the bidder present at the auction is solely responsible for the bids placed, even if he/she is acting on behalf of a third party, unless a written mandate specifies otherwise. In the event of a dispute at the time of the adjudication, i.e. if it is established that two or more bidders have simultaneously made an equivalent bid, aloud, by sign or by any other means, and claim the item at the same time after the word "adjudicated" has been pronounced, the said item will immediately be put back up for sale at the last price proposed by the bidders and any member of the public will be allowed to bid again. The transfer of ownership will be effective once the auction has been announced, and the buyer will then become entirely responsible for the lot(s) purchased. The buyer must insure his lots and PHIDIAS or the expert cannot be held responsible in the event of a claim. The French State has a right of pre-emption over items sold at public auction in accordance with the laws in force. This right is exercised immediately after the hammer has struck, with the representative of the French State expressing the latter's wish to take the place of the last bidder. The pre-emption must be confirmed within fifteen days of the sale. PHIDIAS cannot be held responsible for the conditions of pre-emption. BUY ORDERS For persons unable to attend the sale, purchase orders or telephone bids may be placed. PHIDIAS or the auction expert cannot be held responsible in the event of error or omission in their execution or for any other reason. The buyer is invited to check that his order has been registered. Therefore, any bidding request by telephone or internet must be confirmed. Purchase orders must be sent no later than the day before the sale. All telephone bids presuppose a bid equal to the low estimate plus one bid. The purchase order form must be completed by the bidders and sent to the address indicated. All purchase orders received by PHIDIAS or by the expert remain confidential. In the event of identical orders for the same lot and for the same amount, the order that arrives first will be given priority, the date of receipt being taken as proof. The signatory of the order undertakes to purchase the lot(s) allocated to him/her and to make payment on first demand by choosing one of the methods of payment and/or delivery. A purchase slip will be sent personally to each buyer. PAYMENT Payment must be made immediately after the sale: - in cash (euros) up to 1000 euros commission and taxes included for French nationals or foreign nationals acting in a professional capacity. Up to 15,000 euros commission and taxes included for non-professional foreign nationals only. - by cheque in euros drawn on a French bank and made payable to PHIDIAS, on presentation of a valid identity document and, for legal entities, a Kbis extract less than three months old. - by credit card (Visa or Mastercard) - by bank transfer in euros payable to PHIDIAS, including bank charges. and bank charges. In the case of payment by bank transfer, the ordering party is asked to indicate the reference number of his bank slip. Purchasers wishing to pay by bank transfer or cheque drawn on a foreign bank must pay an additional fee of 20 euros. Buyers wishing to export their lots must make this known no later than the day of the sale. Taxes (VAT on commission and import VAT) may be refunded to the buyer on presentation of proof of export outside the EEC. EEC purchasers who can provide proof of an intra-Community VAT number will be exempt from paying VAT on commission. This number must be provided to PHIDIAS prior to the sale. DEFAULT OF PAYMENT In the event of non-payment by a buyer of all the sums due, after a single formal notice has remained without result, the property will be put back up for sale at the request of the seller on the basis of an irresponsible bid by the defaulting buyer. If the seller does not make this request within three months of the auction date, the sale will be cancelled ipso jure, without prejudice to any damages owed by the defaulting buyer. In addition, PHIDIAS reserves the right to claim interest at the legal rate from the defaulting buyer, reimbursement of all costs incurred in recovering the sums owed by the buyer, as well as payment of the difference between the initial hammer price and the hammer price on the basis of an irresponsible bid, if the latter is lower, as well as the costs generated by the new bids. WITHDRAWAL OF LOTS AND DELIVERY Buyers are advised to send their instructions promptly after the sale and/or to collect their lots as soon as possible. A transport service can be organised as soon as possible after full payment of the consignment note. No lot will be handed over until full payment has been received. In the event of payment by cheque, the delivery of lots may be deferred until the cheque has been cashed. Non-resident buyers will only be able to receive delivery of the lots after payment has been made by bank transfer in euros, including exchange and bank charges. Delivery may be made in accordance with the instructions given on the purchase order form and/or the transport form.