PHIDIAS acts as an organiser of voluntary public auctions of furniture, governed by Articles L321-4 et seq. of the Commercial Code, and in its capacity as the seller’s agent. The relationship between PHIDIAS and the buyer is subject to these terms and conditions of sale, which may be amended by written or oral notices prior to the sale and recorded in the minutes of the sale. Participation in the auction, whether in person, by telephone or online, automatically implies acceptance of these terms and conditions. Live auctions are conducted via Drouotlive.com, which is a technical platform enabling remote and electronic participation in public auctions. Users wishing to participate in a sale via drouotlive.com must read and accept without reservation the terms and conditions of use of this service provider, which can be viewed at www.drouotlive.com. These terms and conditions are separate from and supplementary to these general terms and conditions of sale. GENERAL TERMS AND CONDITIONS In accordance with current legislation, the sale shall be conducted expressly on a cash-only basis and in euros. All items are sold in the condition in which they are found at the time of the sale. No claims may be made once the lot has been awarded, in particular with regard to routine restoration and/or minor imperfections. As successive viewings have provided an opportunity to assess the condition of the lots on offer, it is the responsibility of bidders to examine each lot prior to the sale, to rely on their own judgement, and to verify that it complies with the description given in the catalogue. BIDDING Purchasers shall pay the hammer price of the final bid plus a sales commission of 26% (including VAT) per lot. An additional charge of 1.5 per cent excluding VAT (or 1.8 per cent including VAT) will be added for all successful bidders via Drouot.com or interencheres.com Lots marked with an asterisk (*) are subject to the temporary import regime in France. The buyer undertakes to pay, in addition to the main commission, import VAT at 5.5 per cent of the hammer price for furniture and works of art, and 20 per cent for jewellery, watches, wines or multiples. The order of the catalogue will be followed. However, the auctioneer conducting the sale reserves the right to alter this order, provided bidders are informed accordingly. The successful bidder shall be the highest bidder and the last person to bid. They shall be required to provide their full name and address. PHIDIAS shall consider the bidder present at the auction to be solely responsible for the bids placed, even if acting on behalf of a third party, unless a written mandate specifies otherwise. In the event of a dispute at the time of the auction, that is to say, if it is established that two or more bidders have simultaneously made an equivalent bid, whether aloud, by sign or by any other means, and are claiming the lot at the same time after the word ‘sold’ has been pronounced ’, the item in question shall immediately be put up for sale again at the last price offered by the bidders, and the public shall be permitted to bid once more. The transfer of ownership shall take effect once the lot has been declared sold, at which point the purchaser shall become fully responsible for the lot(s) purchased. The purchaser shall be required to insure their lots, and neither PHIDIAS nor the valuer shall be held liable in the event of a loss. The French State has a right of pre-emption over items sold at public auctions in accordance with the legislation in force. This right is exercised immediately after the hammer falls, with the representative of the French State then expressing the State’s intention to take the place of the highest bidder. The right of pre-emption must be confirmed within fifteen days of the sale. PHIDIAS shall not be held liable for the terms of the pre-emption. PURCHASE ORDERS For those unable to attend the sale in person, purchase orders or telephone bidding are available as a service. PHIDIAS or the auctioneer shall not be held liable in the event of any error or omission in the execution of such orders or for any other reason. The person placing the order is advised to check that their order has been correctly recorded. Consequently, all requests for telephone or online bidding must be confirmed. Purchase orders must be submitted no later than the day before the auction. Any purchase order placed by telephone implies a bid equal to the lower estimate plus one bid increment. The purchase order form must be completed by bidders and sent to the address provided. All purchase orders received by PHIDIAS or the valuer shall remain confidential. In the event of identical orders for the same lot and for the same amount, the order received first shall take precedence, the date of receipt being decisive. The signatory of the order undertakes to purchase the lot(s) awarded to them and to make payment on first request, choosing one of the available payment and/or delivery methods. A purchase receipt will be sent personally to each buyer. PAYMENT Payment must be made immediately after the sale: - in cash (euros) up to 1,000 euros, including commission and taxes, for French nationals or foreign nationals acting in a professional capacity. Up to 15,000 euros, including commission and taxes, for non-professional foreign nationals only. - by bank cheque in euros drawn on a French bank and made payable to PHIDIAS, subject to the mandatory presentation of a valid identity document and, for legal entities, a Kbis extract issued within the last three months. - by credit card (Visa or Mastercard) - by bank transfer in euros payable to PHIDIAS, including currency conversion fees and bank charges. In the case of payment by bank transfer, the payer is requested to quote the reference number from their transfer slip Buyers wishing to pay for their purchases by bank transfer or by a cheque drawn on a foreign bank will be required to pay an additional fee of 20 euros. Buyers wishing to export their lots must give notice of this no later than the day of the sale. Taxes (VAT on commission and import VAT) may be refunded to the buyer upon presentation of proof of export outside the EEC. A buyer from the EEC who can provide proof of an intra-Community VAT number will be exempt from paying VAT on the commission. This number must be provided to PHIDIAS before the sale. FAILURE TO PAY In the event of a buyer’s failure to pay the full amount due, following a single formal notice which has remained unheeded, the lot shall be put up for sale again at the seller’s request, following a void auction of the defaulting buyer’s bid. 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 buyer. Furthermore, PHIDIAS reserves the right to claim from the defaulting purchaser interest at the statutory rate, reimbursement of all costs incurred in recovering the sums owed by the defaulting purchaser, as well as payment of the difference between the initial hammer price and the hammer price at the re-auction, if the latter is lower, and the costs incurred by the re-auction. COLLECTION OF LOTS AND DELIVERY Purchasers are advised to submit their instructions promptly after the sale and/or to collect their lots as soon as possible. A transport service may be arranged as soon as possible following full payment of the invoice. No lot will be released until all sums due have been paid in full. In the event of payment by cheque, the release of lots may be deferred until the cheque has cleared. Non-resident buyers may only take delivery of their lots after payment has been made by bank transfer in euros, including exchange fees and bank charges. Delivery may be arranged in accordance with the details provided on the purchase order form and/or the transport form.