GENERAL TERMS AND CONDITIONS FOR PURCHASES AT PUBLIC AUCTIONS DREYFUS is an organiser of voluntary public auctions of furniture. In this capacity, DREYFUS acts as the seller’s agent, with the seller entering into a contract with the buyer. The relationship between DREYFUS and the buyer is subject to these general terms and conditions of purchase, which may be amended by written or oral notices prior to the sale and which will be recorded in the sale minutes. 1. THE ITEMS FOR SALE Lots are sold as is. Buyers accept the certificates accompanying the lots. Works described as ‘attributed to’ were, in our opinion, created during the artist’s active period, and we seriously believe the artist to be the creator, although we cannot guarantee this. We ask them to come and inspect the lots prior to the sale, accompanied by their own experts or advisers. We accept no liability for discrepancies between experts’ opinions. No claims will be accepted after the sale. a) Prospective buyers are invited to examine any lots of interest to them prior to the auction, particularly during exhibitions. DREYFUS is available to provide prospective buyers with reports on the condition of the lots. b) Descriptions of lots contained in the catalogue, reports, labels and verbal statements or announcements are merely an expression by DREYFUS of its perception of the lot, but do not constitute proof of any fact. c) Any information provided by DREYFUS regarding the existence of restoration, damage or an incident affecting the lot is given to facilitate its inspection by the prospective buyer and remains subject to their personal assessment or that of their expert. The absence of any mention of restoration, damage or an incident in the catalogue, reports, labels or verbally does not in any way imply that an item is free from any present, past or repaired defects. Conversely, the mention of any defect does not imply the absence of all other defects. d) Estimates are provided for information purposes only and cannot be taken to imply any certainty that the item will be sold at the estimated price or even within the estimated price range. Valuations do not constitute any form of guarantee. 2. THE SALE a) To ensure the smooth running of the sales, prospective buyers are invited to contact DREYFUS prior to the sale so that their personal details can be recorded. DREYFUS reserves the right to ask any prospective buyer to provide proof of identity and bank details, and to make a deposit. DREYFUS reserves the right to refuse access to the auction room to any prospective buyer on valid grounds. b) Any person placing a bid undertakes to pay personally and immediately the hammer price, plus the costs payable by the buyer and any taxes or duties that may be due. All bidders are deemed to be acting on their own behalf unless they have previously declared, and DREYFUS has accepted, that they are acting as an agent on behalf of a third party. c) The standard method of bidding is to be present in the auction room. However, DREYFUS may, at its discretion, accept telephone bids from a potential buyer who has made themselves known prior to the sale. DREYFUS shall not be held liable, in particular if the telephone connection is not established, is established too late, or in the event of errors or omissions relating to the receipt of telephone bids. For the avoidance of doubt, DREYFUS reserves the right to record telephone conversations during the auction. Recordings will be retained until payment has been made, unless contested. d) DREYFUS may, at its discretion, agree to execute bidding instructions submitted to it prior to the sale, for which it reserves the right to request a security deposit and which it has accepted. If the lot is not awarded to that bidder, the security deposit will be returned within 72 hours. If DREYFUS receives several orders for identical bid amounts, the earliest order will be given priority. DREYFUS shall not be held liable, in particular in the event of an error or failure to execute the written order. e) In the event that a reserve price has been stipulated by the seller, DREYFUS reserves the right to bid on behalf of the seller until the reserve price is reached. However, the seller is not authorised to bid themselves, either directly or through an agent. The reserve price may not exceed the low estimate stated in the catalogue or publicly amended prior to the sale. f) DREYFUS shall conduct the sale at its discretion, ensuring the freedom of bidding and equality amongst all bidders, whilst respecting established practice. DREYFUS reserves the right to reject any bid, to organise the bidding in the most appropriate manner, to reorder certain lots during the sale, to withdraw any lot from the sale, and to group or separate lots. In the event of a dispute DREYFUS reserves the right to designate the successful bidder, to continue with the sale or to cancel it, or to put the lot up for sale again. g) Subject to the decision of the person conducting the sale on behalf of DREYFUS, the successful bidder shall be the person who has made the highest bid, provided that it is equal to or higher than any reserve price that may have been stipulated. The fall of the hammer shall mark the end of the bidding, and the pronouncement of the word ‘sold’ or any other equivalent shall result in the formation of the contract of sale between the seller and the successful bidder. The successful bidder may only take delivery of the lot once the full price has been paid; in the case of payment by ordinary cheque, only the clearing of the cheque shall constitute payment. DREYFUS reserves the right to deliver the lot only after the cheque has been cashed. h) To assist potential buyers with their calculations, DREYFUS may use, for guidance only, a currency conversion system. However, bids may not be made in foreign currencies, and DREYFUS shall not be held liable for any conversion errors. 3. CONDUCT OF THE SALE 1) In addition to the hammer price, the successful bidder (purchaser) must pay, per lot and on a sliding scale, the following commissions and taxes: •From 1 to 250,000 euros: 25% + VAT at the current rate •From 250,001 to 2,000,000 euros: 20% + VAT at the current rate. •Above 2,000,001 euros: 15% + VAT at the current rate. 2) VAT on commissions and import charges may be refunded to the successful bidder upon presentation of proof of export outside SWITZERLAND. The successful bidder may pay by the following means: - In cash; -By bank cheque upon presentation of proof of identity; -By bank transfer; -By credit card: an additional commission of 2 per cent, corresponding to the processing fees, will be charged. a) It is the successful bidder’s responsibility to insure the lot immediately upon award. They may not bring a claim against DREYFUS, in the event that, following the theft, loss or damage to their lot after the auction, the compensation they receive from DREYFUS’s insurer proves to be insufficient. b) The lot will only be released to the purchaser upon full payment of the price, fees and taxes. In the event of payment by cheque, the lot will only be released once the cheque has been cleared, i.e. 8 working days from the date the cheque is deposited. From the Monday following the 90th day after the sale, the lot purchased – whether paid for or not – remaining in storage will be invoiced at €50 (excl. VAT) per week per lot, with any week commenced being payable in full to cover storage and insurance costs. In the event of non-payment by the successful bidder, following a formal notice to pay which has remained unheeded, the item shall be put up for sale again at the seller’s request by way of a re-auction following the defaulting successful bidder’s failure to pay; if the seller does not make such a request within three months of the auction, the sale shall be automatically rescinded, without prejudice to any damages owed by the defaulting successful bidder. Furthermore, DREYFUS reserves the right to claim from the defaulting successful bidder, at its discretion: - Interest at the statutory rate plus five percentage points from the defaulting successful bidder, at its discretion: -Reimbursement of the additional costs incurred as a result of their default, -Payment of the difference between the initial hammer price and the hammer price following a re-auction, if lower, as well as the costs incurred by the re-auction. DREYFUS also reserves the right to set off any such amounts against sums owed to the defaulting successful bidder.

In addition to the hammer price, the successful bidder (buyer) must pay the following commissions and taxes per lot and in descending brackets: •From 1 to 250,000 euros: 25% + VAT at the current rate •From 250,001 to 2,000,000 euros: 20% + VAT at the current rate. •Above 2,000,001 euros: 15% + VAT at the current rate. 2) VAT on commissions and import charges may be refunded to the successful bidder upon presentation of proof of export outside SWITZERLAND. The successful bidder may pay by the following means: - In cash; -By bank cheque upon presentation of proof of identity; -By bank transfer; -By credit card: an additional commission of 2 per cent, corresponding to the processing fee, will be charged. a) It is the successful bidder’s responsibility to insure the lot immediately upon the award of the bid. The successful bidder shall have no recourse against DREYFUS should the compensation received from DREYFUS’s insurer prove insufficient in the event of theft, loss or damage to the lot following the auction. b) The lot will only be released to the purchaser upon full payment of the price, fees and taxes. In the event of payment by cheque, the lot will only be released once the cheque has been definitively cleared, i.e. 8 working days from the date the cheque was deposited. From the Monday following the 90th day after the sale, any lot purchased – whether paid for or not – that remains in the warehouse will be invoiced at €50 (excl. VAT) per week and per lot, with any week commenced being payable in full to cover storage and insurance costs. In the event of non-payment by the successful bidder, following a formal notice that has remained unheeded, the item shall be put up for sale again at the seller’s request following a void auction of the defaulting successful bidder’s lot; if the seller does not make such a request within three months of the auction, the sale shall be automatically rescinded, without prejudice to any damages owed by the defaulting successful bidder. Furthermore, DREYFUS reserves the right to claim from the defaulting successful bidder, at its discretion: - Interest at the statutory rate plus five percentage points from the defaulting successful bidder, at its discretion: -Reimbursement of the additional costs incurred as a result of their default, -Payment of the difference between the initial hammer price and the hammer price at the re-auction, if the latter is lower, as well as the costs incurred by the re-auction. DREYFUS also reserves the right to set off any amounts due against sums owed by the defaulting successful bidder. DREYFUS reserves the right to exclude from its future sales any successful bidder who has defaulted or who has failed to comply with these general terms and conditions of purchase. c) Purchases that have not been collected within seven days of the sale (including Saturdays, Sundays and public holidays) may be transported to a storage facility at the expense of the defaulting successful bidder, who must pay the in order to collect the lot, in addition to the price, fees and taxes.