Terms and conditions of sale The sale is governed by articles L312-4 of the French Commercial Code. The SVV Thierry de Maigret, the sale operator, acts as the seller's agent and its relationship with the bidders is set out in these conditions of sale. Goods offered for sale: The information given in the catalogue is the responsibility of the auction house and the experts assisting it, taking into account the corrections announced when the item was presented and recorded in the sale report. Re-covering, parquetry or lining are considered as a conservatory measure and not as a defect; dimensions, weights and estimates are indicative. A prior viewing allows buyers to appreciate the condition of the items for sale. No claims will be accepted once the items have been sold. The SVV is at your disposal for any information, and invites all interested parties to enquire about the lots. Bidding: The successful bidder will be the highest and last bidder, and will be obliged to submit his name and address, together with proof of identity and bank details. All bidders are deemed to be bidding on their own behalf and are held solely responsible for their bid. If the bidder is bidding on behalf of a third party, he/she must make this person's identity known beforehand, so that the invoice can be drawn up correctly. No changes may be made after the sale. In the event of a double bid recognised by the auctioneer, the lot will be put back up for auction immediately, and any interested party will be invited to participate in the auction again. The auctioneer and the experts reserve the right, in the interests of the sale, to combine, divide or withdraw any lot from the sale. Purchase orders: The auction house may execute any purchase order free of charge. This must be requested in writing 24 hours before the auction, using the duly completed form and accompanied by a cheque or bank details. The SVV Thierry de MAIGRET will act on behalf of the bidder, according to the instructions given on the form, in an attempt to buy the lot concerned at the lowest price, and not exceeding the maximum amount indicated. In the event of bids in the room for the same amount, the bidder present will have priority. Sale information Public exhibitions : Wednesday 17 June from 11am to 6pm Thursday 18 June from 11am to 8pm Friday 19 June from 11am to 12pm Expert : Thierry PARSY Expert to the Paris Court of Appeal 32, rue Drouot - 75009 Paris Tel: +33(0)1 49 27 01 40 - [email protected] Research contact: Romain Batlle [email protected] Terms and conditions of sale Terms and conditions of sale Sales are governed by articles L312-4 of the French Commercial Code. The SVV Thierry de Maigret, the sale operator, acts as the seller's agent and its relationship with the bidders is specified in these conditions of sale. Goods offered for sale: The information given in the catalogue is the responsibility of the auction house and the experts assisting it, taking into account the corrections announced when the item was presented and recorded in the sale report. Re-covering, parquetry or lining are considered as a conservatory measure and not as a defect; dimensions, weights and estimates are indicative. A prior viewing allows buyers to appreciate the condition of the items for sale. No claims will be accepted once the items have been sold. The SVV is at your disposal for any information, and invites all interested parties to enquire about the lots. Bidding: The successful bidder will be the highest and last bidder, and will be obliged to submit his name and address, together with proof of identity and bank details. All bidders are deemed to be bidding on their own behalf and are held solely responsible for their bid. If the bidder is bidding on behalf of a third party, he/she must make this person's identity known beforehand, so that the invoice can be drawn up correctly. No changes may be made after the sale. In the event of a double bid recognised by the auctioneer, the lot will be put back up for auction immediately, and any interested party will be invited to participate in the auction again. The auctioneer and the experts reserve the right, in the interests of the sale, to combine, divide or withdraw any lot from the sale. Purchase orders: The auction house may execute any purchase order free of charge. This must be requested in writing 24 hours before the auction, using the duly completed form and accompanied by a cheque or bank details. The SVV Thierry de MAIGRET will act on behalf of the bidder, according to the instructions given on the form, in an attempt to buy the lot concerned at the lowest price, and not exceeding the maximum amount indicated. In the event of bids in the room for the same amount, the bidder present will have priority. Telephone bids are accepted for lots with a low estimate of more than €300. It is advisable to specify a security purchase order that we can execute on your behalf in the event that we are unable to contact you. The Auction House is not responsible for failure to execute a purchase order due to error, omission, telephone malfunction or any other cause. To bid by telephone or internet, a deposit may be required by the Auction House. Payment of the price: The sale is conducted in euros and is expressly payable in cash. In addition to the hammer price, the successful bidder must pay taxes and sales costs of 25% (20.8% excl. VAT + 20% VAT). No lot will be handed over to the buyer until all sums due have been paid in full. Means of payment : - by cheque, which must be accompanied by proof of identity; only the cashing of an unmatched cheque will constitute payment and transfer of ownership. Cheques drawn on a foreign bank will only be authorised with the prior agreement of the Société de Vente. For this reason, buyers are advised to obtain a letter of credit from their bank prior to the sale, for a value close to their intention to purchase, which they will forward to the Société de Vente. - in cash, up to a limit of €1,000 for French residents and professionals, and €15,000 for foreign individuals, including taxes and charges, on presentation of proof of identity, of the source of the funds and of the declaration of the sums to the customs authorities, decree no. 2010-662 of 16 June 2010. - by bank transfer, quoting the slip number - by Visa and Master Card VAT: VAT included in the margin may be reimbursed to buyers who are not residents of the European Union after sending the SVV the customs export document, copy no. 3, stamped by customs, within two months of the sale. No sales slip excluding VAT will be issued without official proof of export, as the intra-Community VAT number alone does not suffice. Default of payment : Payment by cheque with insufficient funds or non-payment does not incur the liability of the Sales Company and consequently releases it from the obligation to make payment to the seller. On expiry of a period of one month after formal notice has been served on the buyer by registered letter with acknowledgement of receipt at the buyer's expense, and in the event of non-payment of the sum due, an additional fee of 10% of the hammer price, with a minimum of €300, will be charged to the buyer to cover collection costs. The application of this cause does not preclude the awarding of damages and the costs of any proceedings that may be necessary, and does not prejudice the possible implementation of the "folle enchère" (irresponsible bidding) procedure. Irresponsible bidding: in the event of non-payment by the successful bidder, the property is put back up for sale at the seller's request on the basis of irresponsible bidding by the defaulting bidder: if the seller does not make this request within one month of the auction, the sale is cancelled ipso jure, without prejudice to damages. Interest due by the defaulting buyer. Withdrawal of lots: No lot will be handed over before full payment has been received. In the event of payment by uncertified cheque, the collection of items may be deferred until the cheque has been cashed. Bulky items that have been sold and have not been collected from Drouot by 10 a.m. on the day following the sale will be stored in the Hôtel Drouot warehouse; they remain the sole responsibility of the successful bidder. Storage charges payable by the buyer must be paid to the Hôtel Drouot warehouse before the lots are removed and on presentation of the paid slip. Small items may be kept at the auction house for 15 days after the sale; beyond this period, storage charges of 3 euros per day and per item will be payable. Right of pre-emption: The French State has the right to pre-empt works sold, by making a declaration to the auctioneer as soon as the hammer price has been reached. The State has 15 days in which to inform the auctioneer that it wishes to exercise this right. In this case, it takes the place of the last bidder. Right of access: The right of access is the right granted to any person to question the data controller to find out whether it holds information about him or her, and if so, to obtain communication of it. Cf. article 32 of the Data Protection Act and model disclosures in the notice.