TERMS AND CONDITIONS OF SALE (EXTRACT from the General Terms and Conditions of Sale)
The terms and conditions of sale set out below are merely an extract from the General Terms and Conditions of Sale. Bidders are requested to refer to the terms and conditions available on our website, millon.com, on the date of the relevant sale, to contact Millon, or to access them directly via the QR code below:
INFORMATION AND WARRANTIES
All Lots are sold in the condition in which they are found at the time of their award, with any potential defects and imperfections. The fact that the description does not contain specific information regarding the condition of a Lot does not imply that the Lot is free from defects or imperfections. The information contained in the Catalogue is provided by Millon and the independent experts mentioned therein, and may be amended by corrections, notifications and/or statements made prior to the auction of the Lots, and recorded in the minutes of the Sale. The information contained in the Catalogue, in particular the characteristics, dimensions, colours, condition of the Lot, and any incidents, damage and/or restorations affecting the Lot, cannot be exhaustive; reflects the subjective assessment of the expert who provided it, and cannot therefore be sufficient to persuade any interested party to bid without having personally inspected the Lot, once it has been put on public display. For all Lots with a low estimate in the Catalogue exceeding 2,000 euros, a condition report on the state of preservation may be made available to any interested party upon request. All information contained in this report remains subject to the interested party’s own judgement.
Claims for civil liability arising from voluntary public auctions of movable property are time-barred five years from the date of the auction, in accordance with Article L.321-17, paragraph 3, of the Commercial Code.
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COSTS TO BE BORNE BY THE SUCCESSFUL BIDDER
The successful bidder shall pay Millon, in addition to the hammer price, a commission equal to a percentage of the hammer price, calculated on a sliding scale as follows:
- The bracket below €1,500: 23.7% excluding VAT *
- 27.5% excluding VAT * from €1,500 upwards
* Applicable VAT rate: 5.5% for books
Furthermore, the Auction Commission is increased as follows in the following cases:
• 1.5% excluding VAT (i.e. 3.6% including VAT*) for Lots purchased via the ‘www.interencheres.com’ live digital platform ’ (see the Terms and Conditions of the ‘www.interencheres.com’ platform) + 0.45% excluding VAT (i.e. 0.54% including VAT*) for the cyber-clerc service;
• 1.5% excluding VAT (i.e. 1.8% including VAT*) for lots purchased on the ‘www.drouot.com’ live digital platform ” (see the Terms and Conditions of the “www.drouot.com” platform) + 0.45% excluding VAT (i.e. 0.54% including VAT*) for the Cyber-Clerc service;
• For fully digital, exclusively online sales conducted via the ‘Drouotonline.com’ platform, the sales charges payable by the buyer are increased by 3% excluding VAT of the hammer price (see the General Terms and Conditions of the “Drouotonline.com” platform).
*Current VAT rate: 20%
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APPLICABLE VAT REGIME
In accordance with Article 297-A of the General Tax Code, Millon is subject to the margin-based VAT regime. ‘VAT on the margin (the margin being, in practice, the sum of the buyer’s fees, the seller’s fees and recoverable costs) is not recoverable by the buyer. The auctioneer must not show any VAT on the sales slip issued to the successful bidder (no indication of ‘excl. VAT’ or ‘incl. VAT’, nor any breakdown of the ‘incl. VAT’ portion of the acquisition costs)’ (See Conseil des Maisons de Ventes)
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PAYMENT OF THE SALE PRICE
Public auctions are conducted on a cash basis and the successful bidder must pay the Sale Price immediately after the auction, regardless of whether they intend to remove their Lot from French territory.
The successful bidder must personally settle the Sale Price and, in particular, where payment is made from a bank account, must be the account holder.
For any invoice payment exceeding €10,000, the successful bidder will be required to provide proof of the source of the funds in accordance with Article L.561-5, 14° of the Monetary and Financial Code.
Payment may be made as follows:
• in cash, for debts (as per the statement) totalling €1,000 or less, where the debtor is resident for tax purposes in France or is acting in the course of a professional activity, and for debts totalling €15,000 or less where the debtor can prove that they are not resident for tax purposes in the French Republic and are not acting in the course of a professional activity. No split payments—part in cash up to the limit and the balance by another means of payment—will be accepted.
• by bank or postal cheque, with the mandatory presentation of a valid identity document (issuance deferred for up to twenty days from the date of payment; foreign cheques are not accepted);
• by credit card (Visa or MasterCard);
• by bank transfer in euros, using the following details:
ACCOUNT NAME: NEUFLIZE OBC
3, avenue Hoche - 75008 Paris
IBAN FR76 3078 8009 0002 0609 7000 469
BIC NSMBFRPPXXX
• by online payment: https://www.millon.com/a-propos/payer-en-ligne/paris;
Successful bidders who have bid via the ‘www.interencheres.com’ live platform will be charged to the bank card registered at the time of their registration for lots under €1,200 within 48 hours of the end of the auction, unless otherwise stated.
In the event of the purchase of several lots, unless otherwise specified by the buyer at the time of partial payment, the buyer waives the benefit of Article 1342-10 of the Civil Code and authorises Millon to allocate their partial payment towards their various outstanding purchase prices, in the interests of the parties and with a view to ensuring the effective completion of all contracted sales.
See original version (French)
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