TERMS AND CONDITIONS OF SALE The sale is governed by Article L312-4 of the Commercial Code. The SVV Thierry de Maigret, the auctioneer, acts as an agent for 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 auction minutes. Re-canvassing, re-parquetry or relining are considered to be 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 auction house is at your disposal for any enquiries and invites all interested parties to find out more about the lots. Please note that the SVV’s specialists, 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 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 will be 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 a bidder is bidding on behalf of a third party, they must disclose that person’s identity in advance, so that the invoice can be drawn up correctly. No changes may be made after the sale. In the event of a duplicate bid recognised as valid by the auctioneer, the lot will be immediately put up for auction again, and any interested party will be invited to bid once more. The auctioneer and the experts reserve the right, in the interests of the sale, to combine, split or withdraw any lot from the sale. Purchase orders: The auction house may, free of charge, 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. 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 more than €300. We recommend that you specify a back-up purchase order which we can execute on your behalf should we be unable to contact you. The Auction House shall not be held liable for failing to execute a bid due to error, omission, a telephone fault or any other cause. To bid by telephone or online, a deposit may be requested by the Auction House. Payment of the purchase price: The sale is conducted in euros and is strictly on a cash-only basis. The successful bidder must pay, in addition to the the hammer price, pay sales taxes and fees amounting to 30% including VAT (25% excluding 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 must submit to the Auction House. - in cash, up to a limit of €1,000 including taxes and fees, €1,000 for French resident private individuals and professionals, and €15,000 for foreign private individuals, subject to proof of their identity, the source of the 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. Failure to pay: Payment by a cheque without sufficient funds or failure to pay shall not render the Auction House liable and shall consequently release it from its obligation to pay the seller. Upon expiry of a one-month period following formal notice being served on 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 per cent of the hammer price, subject to a minimum of €300, shall be charged to the purchaser 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 prejudice the possible initiation of proceedings for a void auction. Failed 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 a failed bid by the : if the seller does not make such a request within one month of the auction, the sale is automatically rescinded, without prejudice to any claim for 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 an uncertified cheque, collection of the items may be deferred until the cheque has cleared. Bulky items sold at auction which have not been collected from Drouot by 10.00 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 charges payable by the purchaser must be settled at the Hôtel Drouot storage facility before collection of the lots and upon presentation of the paid receipt. Small items may be kept in the viewing room for 15 days after the sale; after this period, a storage charge of 3 euros per day per item will be charged. Right of pre-emption: The French State has a right of pre-emption over the works sold, exercisable 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 highest bidder. Right of access: The right of access is the right recognised for any person to ask the data controller whether they hold information about them, and, where applicable, to obtain a copy of such information. See section 32 of the Act and the model information notices in the guidance note. Seals on scrap yards are regarded as protective measures.