For this sale, the resale royalty is payable by the buyer. The resale royalty is payable when the hammer price of a lot is €750 or more. In any event, the amount of the resale royalty is capped at €12,500. The amount payable in respect of the resale right is, for each lot concerned, calculated by applying the following statutory degressive scale to the pre-tax hammer price, as provided for by the regulations in force: 4 per cent between €750 and €50,000, 3 per cent for the price bracket between €50,000.01 and €200,000, 1 per cent for the price bracket between €200,000.01 and €350,000, 0.5 per cent for the price bracket between €350,000.01 and €500,000, 0.25 per cent above that, with an overall cap of €12,500 per work. Excluded from the scope of the resale right are books, manuscripts and, more generally, items that do not fall within the category of original graphic or visual works within the meaning of Articles L. 122‑8 and R. 122‑2 of the Intellectual Property Code.