The sale is conducted on a cash basis and in euros. Any person placing a bid undertakes to pay personally and immediately the hammer price, plus the costs payable by the purchaser and any taxes and duties that may be due. A certificate of sale, serving as both an invoice and proof of the contract of sale, will be issued to the successful bidder. The successful bidder must immediately provide or confirm their identity, address and bank details. FRAYSSE & ASSOCIÉS reserves the right to refuse payment by a third party. In addition to the hammer price, the successful bidder (purchaser) must pay the buyer’s commission per lot. The standard commission rate is 28.5% including VAT (i.e. 23.75% excluding VAT) and, for books, 22% including VAT (i.e. 20.85% excluding VAT).3 The commission rate for lots sold via the DROUOT or INTERENCHÈRES platforms during ‘live auctions’ is 31% including VAT and, for books, 24% including VAT).

No lots will be released to buyers until the full hammer price, buyer’s premium, taxes, duties and other charges due have been paid in full. In the event of payment by uncertified cheque or bank transfer, the release of the lots will be deferred until the funds have been definitively cleared.