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result of any absentee bids which you

may have instructed us to execute on

your behalf, please telephone Sotheby’s

(France) S.A.S. on:

+33 (0)1 53 05 53 34

,

or by fax.

+33 (0)1 53 05 52 93

/52 94.

Payment

Payment is due immediately

after the sale andmay be made by the

following methods:

• Bank wire transfer in Euros

• Euro banker’s draft

• Euro cheque

• Credit cards (Visa, Mastercard,

American Express, CUP); Please note

that 40,000 EUR is the maximum

payment that can be accepted by

credit card.

• Cash in Euros: for private or

professionals to an equal or lower

amount of €1,000 per sale (but to an

amount of €15,000 for a non-French

resident for tax purposes who does not

operate as a professional). It remains

at the discretion of Sotheby’s to assess

the evidence of non-tax residence

as well as proof that the buyer is not

acting for professional purposes.

Cashiers and the Collection of Purchases

o ce are open daily 10am to 12.30pm

and 2pm to 6pm.

It is Sotheby’s policy to request any new

clients or buyers preferring to make a

cash payment to provide proof of identity

(by providing some form of government

issued identi cation containing a

photograph, such as a passport, identity

card or driver’s licence) and con rmation

of permanent address. Thank you for

your co-operation.

Cheques and drafts should be made

payable to Sotheby’s.Although personal

and company cheques drawn up in Euro

on French bank as by a foreign bank are

accepted, you are advised that property

will not be released before the nal

collection of the cheque, collection that

can take several days, or even several

weeks as for foreign cheque (credit after

collection). On the other hand, the lot will

be issued immediately if you have a pre-

arranged Cheque Acceptance Facility.

Bank transfers should be made to:

HSBC Paris St Augustin

3, rue La Boétie

75008 Paris

Name : Sotheby’s (France) S.A.S.

Account Number : 30056 00050

00502497340 26

IBAN:FR7630056

0005000502497340

26

Swift Code : CCFRFRPP

Please include your name, Sotheby’s

account number and invoice number

with your instructions to your bank.

Please note that we reserve the right to

decline payments received from anyone

other than the buyer of record and

that clearance of such payments will

be required. Please contact our Client

Accounts Department if you have any

questions concerning clearance.

No administrative fee is charged for

payment by Mastercard and Visa.

We reserve the right to seek identi cation

of the source of funds received.

Collection of Purchases

Purchases

can only be collected after payment

in full in cleared funds has been made

and appropriate identi cation has been

provided.

All property will be available during, or

after each session of sale on presentation

of the paid invoice with the release

authorisation from the Client Accounts

O ce.

Should lots sold at auction not be

collected by the buyer immediately after

the auction, those lots will, after 30 days

following the auction sale (including the

date of the sale), be stored at the buyer’s

risk and expense and then transferred to

a storage facility designated by Sotheby’s

at the buyer’s risk and expense.

All charges due to the storage facility

shall be met in full by the buyer before

collection of the property by the buyer.

Insurance

Sotheby’s accepts liability for

loss or damage to lots for a maximum

period of 30 (thirty) calendar days after

the date of the auction (including the

date of the auction).After that period,

the purchased lots are at the Buyer’s sole

responsibility for insurance.

Export of cultural goods

The export of

any property from France or import into

any other country may be subject to one

or more export or import licences being

granted.

It is the buyer’s responsibility to obtain

any relevant export or import licence.

Buyers are reminded that property

purchasedmust be paid for immediately

after the auction.

The denial of any export or import licence

required or any delay in obtaining such

licence cannot justify the cancellation of

the sale or any delay in making payment

of the total amount due.

Sold property will only be delivered to

the buyer or sent to the buyer at their

expense, following his/her written

instructions, once the export formalities

are complete.

Sotheby’s, upon request, may apply for

a licence to export your property outside

France (a“Passport”).An EU Licence is

necessary to export from the European

Union cultural goods subject to the EU

Regulation on the export of cultural

property (EEC No. 3911/92, O cial

Journal No. L395 of 31/12/92).

A French Passport is necessary to move

from France to another Member State of

the EU cultural goods valued at or above

the relevant French Passport threshold.

A French Passport may also be

necessary to export outside the

European Union cultural goods valued

at or above the relevant French Passport

limit but below the EU Licence limit.

The following is a selection of some of the

categories and a summary of the limits

above which either an EU licence or a

French Passport is required:

• Watercolours, gouaches and pastels

more than 50 years old €30,000

• Drawings more than 50 years old

€15,000

• Pictures and paintings in any medium

on any material more than 50 years old

(other than watercolours, gouaches

and pastels above mentioned)

€150,000

• Original sculpture or statuary and

copies produced by the same process

as the original more than 50 years old

€50,000

• Books more than 100 years old singly

or in collection €50,000

• Means of transport more than 75 years

old €50,000

• Original prints, engravings, serigraphs

and lithographs with their respective

plates and original posters €15,000

• Photographs, lms and negatives there

of €15,000

• Printed Maps more than 100 years old

€15,000

• Incunabula andmanuscripts including

maps andmusical scores single or in

collections irrespective of value

• Archaeological items more than 100

years old irrespective of value

• Dismemberedmonuments more than

100 years old irrespective of value

• Archives more than 50 years old

irrespective of value

• Any other antique items more than 50

years old €50,000

Please note that French regulation

n°2004-709 dated 16th July 2004

modifying French regulation n°93-124

dated 29th January 1993, indicates that

«for the delivery of the French passport,

the appendix of the regulation foresees

that for some categories, thresholds will

be di erent depending where the goods

will be sent to, outside or inside the EU».

We recommend that you keep any

document relating to the import and

export of property, including any licences,

as these documents may be required by

the relevant authority.

Please note that when applying for a

certi cate of free circulation for the

property, the authority issuing such

certi cate may express its intention

to acquire the property within the

conditions provided by law.

Endangered Species

Items made of

or incorporating animal material such

as ivory, whalebone, tortoiseshell, etc.,

irrespective of age or value, require a

speci c licence from the French Ministry

of the Environment prior to leaving

France. Please note that the ability to

obtain an export licence or certi cate

does not ensure the ability to obtain an

import licence or certi cate in another

country, and vice versa. For example,

it is illegal to import African elephant

ivory into the United States. Sotheby’s

suggests that buyers check with their

own government regarding wildlife

import requirements prior to placing

a bid. It is the buyer’s responsibility to

obtain any export or import licences

and/or certi cates as well as any other

required documentation.

Please note that Sotheby’s is not able

to assist buyers with the shipment of

any lots containing ivory and/or other

restricted materials into the United

States. A buyer’s inability to export or

import these lots cannot justify a delay

in payment or a sale’s cancellation.

Pre-emption right

The French state

retains a pre-emption right on certain

works of art and archives which may be

exercised during the auction. In case of

con rmation of the pre-emption right

within fteen (15) days from the date

of the sale, the French state shall be

subrogated in the buyer’s position.

Considered as works of art, for purposes

of pre-emption rights are the following

categories:

(1) Archaeological objects more than 100

years old found during land based and

underwater searches of archaeological

sites and collections;

(2) Pieces of decoration issuing from

dismembered buildings;

(3)Watercolours, gouaches and pastels,

drawings, collages, prints, posters and

their frames;

(4) Photographs, lms and negatives

thereof irrespective of the number;

(5) Films and audio-visual works;

(6) Original sculptures or statuary or

copies obtained by the same process

and castings which were produced under

the artists or legal descendants control

and limited in number to less than eight

copies, plus four numbered copies by

the artists;

(7) Contemporary works of art not

included in the above categories 3) to 6);

(8) Furniture and decorative works of art;

(9) Incunabula andmanuscripts, books

and other printed documents;

(10) Collections and specimens from

zoological, botanical, mineralogy,

anatomy collections ; collections

and objects presenting a historical,

palaeontological, ethnographic or

numismatic interest;

(11) Means of transport;

(12) Any other antique objects not

included in the above categories 1) to 11)

EXPLANATION OF SYMBOLS

The following key explains the symbols

you may see inside this catalogue.

No Reserve

Unless indicated by a box (

), all lots

in this catalogue are o ered subject to

a reserve.A reserve is the con dential

hammer price established between

Sotheby’s and the seller and below

which a lot will not be sold.The reserve

is generally set at a percentage of the

low estimate and will not exceed the

low estimate for the lot as set out in

the catalogue or as announced by the

auctioneer. If any lots in the catalogue

are o ered without a reserve, these lots

are indicated by a box (

). If all lots in the

catalogue are o ered without a reserve,

a Special Notice will be included to this

e ect and the box symbol will not be

used.

Guaranteed Property

The seller of lots with this symbol has

been guaranteed a minimumprice from

one auction or a series of auctions.This

guarantee may be provided by Sotheby’s

or jointly by Sotheby’s and a third party.

Sotheby’s and any third parties providing

a guarantee jointly with Sotheby’s bene t

nancially if a guaranteed lot is sold

successfully andmay incur a loss if the

sale is not successful. If the Guaranteed

Property symbol for a lot is not included

in the printing of the auction catalogue, a

pre-sale or pre-lot announcement will be

made indicating that there is a guarantee

on the lot. If every lot in a catalogue is

guaranteed, the Important Notices in