The sale is governed by Article L312-4 of the Commercial Code. SVV Thierry de Maigret, the auctioneer, acts as the seller’s agent, and its relationship with bidders is set out in these terms and conditions of sale. Items offered for sale: The information contained in the catalogue is the responsibility of the auction house and the experts assisting it, subject to any corrections announced at the time of the item’s presentation and recorded in the minutes of the sale. Re-lining, re-parquetry or re-lining are considered to be a preservative measure and not a defect; dimensions, weights and estimates are indicative. A pre-sale exhibition enables buyers to assess the condition of the items offered for sale. No claims will be accepted once the lot has been awarded. The SVV is at your disposal for any enquiries, and invites all interested parties to find out more about the lots. Auctions: The successful bidder will be the highest bidder and the last person to bid, and shall be obliged to provide their name and address, whilst presenting proof of identity and bank details. All bidders are deemed to be bidding on their own behalf and are solely responsible for the bid. Should a bidder be 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 tied bid deemed valid by the auctioneer, the lot will be put back up for auction immediately, and any interested party will be invited to take part in the bidding again. 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 order: The auction house may execute any purchase 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 relevant lot at the lowest possible price, whilst not exceeding the maximum amount indicated. In the event of in-auction bids for the same amount, the bidder present in the room 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 may execute on your behalf should we be unable to contact you. The Auction House is not liable for failing to execute a purchase order due to error, omission, a telephone fault or any other cause. To bid by telephone or online, a deposit may be required 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 hammer price, sales taxes and fees amounting to 28.8% inclusive of VAT (24% exclusive of VAT + 20% VAT). No lot will be released to the buyer until all sums due have been paid in full. Methods of payment: - by cheque, which must be accompanied by proof of identity; only the cashing of an uncertified cheque shall constitute payment and transfer of ownership. Cheques drawn on a foreign bank will only be accepted with the prior from the Auction House. To this end, 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 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 payment reference number - by Visa and MasterCard VAT: VAT included in the margin may be refunded to buyers who are non-residents of the European Union after sending the SVV the customs export document, copy No. 3, stamped by customs, within two months following the sale. No VAT-exclusive invoice 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 does not render the Auction House and consequently releases it from the obligation to pay the seller. Upon expiry of a one-month period following formal notice to the purchaser by registered letter with acknowledgement of receipt at the purchaser’s expense, and in the absence of payment of the sum due, an additional fee of 10 per cent of the auction price, subject to a minimum of €300, shall be charged to the purchaser to cover the costs of debt recovery. The application of this provision does not preclude the award of damages and costs of any proceedings that may be necessary, 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 defaulting successful bidder: if the seller does not make this request within one month of the auction, the sale shall be automatically rescinded, without prejudice to any claim for damages. Interest payable by the defaulting successful bidder. Collection of lots: No lot shall 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 lots that have been sold but have not been collected from Drouot by 10.00 am on the day following the auction shall 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 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 charge of 3 euros per day per item will be levied. 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 hammer falls. The State has a period of 15 days to confirm the exercise of this right. In such cases, it takes the place of the highest bidder. Right of access: The right of access is the right recognised for any person to enquire of the data controller find out whether they hold any information about them, and, if so, to obtain a copy of it. See section 32 of the Act and examples of information notices in the prospectus. Seals placed on auction houses are considered to be precautionary measures.