TERMS AND CONDITIONS OF SALE The sale is governed by Article L312-4 of the French Commercial Code. The SVV Thierry de Maigret, the auctioneer, acts as the agent of the seller, and its relationship with bidders is governed by these terms and conditions of sale. Items offered for sale: The information provided in the catalogue is the responsibility of the auction house and the experts who assist it, subject to any corrections announced at the time of the item’s presentation and recorded in the sale minutes. Re-canvassing, re-parquetry or relining are considered conservation measures and not defects; dimensions, weights and estimates are indicative. A pre-sale exhibition allows buyers to assess the condition of the items offered for sale. No claims will be accepted once the lot has been sold. The SVV is at your disposal for any further information and invites all interested parties to enquire about the lots. Please note that the specialists at SVV Thierry de Maigret are not qualified conservators and that the report presented below is not a comprehensive condition report prepared by a professional conservator. Although we provide certain observations on Although we make certain observations regarding the work, which we hope will be useful, we recommend that you consult your own restorer to obtain a more comprehensive report. We would also remind you that this report has been drawn up in accordance with the terms and conditions set out in the auction catalogue. It is merely an expression of opinion and should not be regarded as a statement of fact. The auction: The successful bidder will be the highest and final bidder, and is required to provide their name and address, along with proof of identity and bank details. All bidders are deemed to be bidding on their own behalf and are held solely responsible for the bid. If the bidder is bidding on behalf of a third party, they must disclose that person’s identity in advance, so that the invoice can be issued correctly. No changes may be made after the sale. In the event of a double bid recognised as valid by the auctioneer, the lot shall be immediately put up for auction again, and any interested party shall be invited to participate in the auction once more. 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 order: The auction house may execute any buy-in order free of charge. Requests must be made 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, in accordance with the instructions specified on this form, with the aim of purchasing the lot in question at the lowest possible price, without exceeding the maximum amount indicated. In the event of competing bids in the auction room for the same amount, the bidder present will have priority. Telephone bids are accepted for lots with a low estimate of over €300. We recommend that you specify a back-up purchase order which we can execute on your behalf in the event that we are unable to contact you. The Auction House shall not be held liable for failing to execute a purchase order due to error, omission, telephone malfunction or any other cause. To bid by telephone or online, a deposit may be requested by the Auction House. Payment of the price: The sale is conducted in euros and is strictly for cash only. The successful bidder must pay, in addition to the the hammer price, pay sales taxes and fees of 30% inclusive of VAT (25% exclusive of VAT + 20% VAT). No lot will be released to the buyer until all sums due have been paid in full. DROUOT LIVE buyer’s fees: 1.5% excluding VAT in addition to the hammer price, i.e. 1.8% including VAT. Methods of payment: - by cheque, which must be accompanied by proof of identity; only the cashing of an uncertified cheque constitutes payment and transfer of ownership. Cheques drawn on a foreign bank will only be accepted with the prior consent of the Auction House. For this reason, buyers are advised to obtain, prior to the sale, a letter of credit from their bank for an amount approximating their intended purchase, which they shall forward to the Auction House. - in cash, subject to a limit of €1,000 including taxes and fees, €1,000 for French private individuals and professionals, and €15,000 for foreign private individuals, subject to proof of identity, the source of funds and their declaration of the sums to the customs authorities, Decree No. 2010-662 of 16 June 2010. - by bank transfer, quoting the invoice number - by Visa and MasterCard VAT: VAT included in the margin may be refunded to buyers who are non-residents of the European Union upon submission to the auction house of the customs export document, copy no. 3, endorsed by customs, within two months of the sale. No invoice excluding VAT will be issued without official proof of export; the intra-Community VAT number alone is not sufficient. Non-payment: Payment by a cheque without sufficient funds or failure to pay shall not render the Auction House liable and consequently releases it from the obligation to pay the seller. Upon expiry of a one-month period following formal notice to the buyer by registered letter with acknowledgement of receipt at the buyer’s expense, and in the absence of payment of the sum due, an additional fee of 10% of the hammer price, with a minimum of €300, shall be charged to the buyer to cover recovery costs. The application of this provision does not preclude the award of damages and costs of any necessary proceedings, nor does it prejudge the possible initiation of proceedings for a void auction. Unpaid bid: in the event of non-payment by the successful bidder, the property shall be put up for sale again at the seller’s request on the grounds of the successful bidder’s : if the seller does not make this request within one month of the auction, the sale is automatically cancelled, without prejudice to damages. Interest is payable by the defaulting successful bidder. Collection of lots: No lot will be released until all sums due have been paid in full. In the event of payment by uncertified cheque, collection of the items may be deferred until the cheque has cleared. Large items awarded at auction that have not been collected from Drouot by 10 am on the day following the sale will be stored at the Hôtel Drouot warehouse; they remain the sole responsibility of the successful bidder. Storage fees payable by the purchaser must be settled at the Hôtel Drouot storage facility prior to collection of the lots and upon presentation of the paid receipt. Small items may be kept in the auction house for 15 days after the sale; beyond this period, a storage fee of €3 per day per item will be charged. Right of pre-emption: The French State has a right of pre-emption over the works sold, by declaration to the auctioneer as soon as the bid is declared. The State has a period of 15 days to confirm the exercise of this right. In this case, it takes the place of the final bidder. Right of access: The right of access is the right granted to any person to ask the data controller whether they hold information about them, and, where applicable, to obtain a copy of it. See section 32 of the Act and model information notices in the guide. Seals on scrap yards are considered to be protective measures.