96 Withdrawal: Each auction and bid is final and is binding on the auction winner, it being recalled that the auction winner may not withdraw either in the room, by telephone, online or on a purchase order. Transfer of risk and ownership: The transfer of ownership and risks between the seller and the auction winner takes place by the word “sold” by AGUTTES. AGUTTES disclaims all liability for losses and damages that the lots may suffer from the date of the award, with the auction winner having to insure the lots acquired as soon as the award is awarded. III- COMPLETION OF THE SALE Sale commission: In addition to the auction price, the auction winner shall pay the buyer's fees, per lot, calculated as follows: - 25% excl. tax + VAT at the rate in force, i.e. 30% Exception: For books only benefiting from a reduced VAT rate: 25% before tax, i.e. 26.37% including VAT. In addition to the auction price and the buyer’s fees, the auction winner must pay all taxes and duties including VAT as well as any file, handling, and storage costs. Payment of the sums due must be made “in cash” by the auction winner, as soon as the award is made. Payment is made in euros. Any bank commissions will not be deducted from the amounts due. VAT: The VAT rate is 20% (or 5.5% for books). In principle, unmarked lots will be sold under the VAT on gross margin system. The purchase commission and additionnal costs will be increased by an amount in lieu of VAT, which will not be separately mentioned in our slips. By way of exception, and at the request of the seller, the general VAT system may be applied for goods offered for sale by an EU professional at its request. These goods will be marked by the ¤ sign. Possible VAT refunds: 1- The professional of the European Union, (i) with an intra-Community VAT number and (ii) providing proof of the export of lots from France to another Member State; 2- Non-residents of the European Union on the supply of (i) a customs export document, on which AGUTTES appears as sender (ii) when the export occurs within three months of the auction date or the date of obtaining the export permit. Payment terms: Legal means of payment accepted by AGUTTES’ accounts (payments by credit card or wire transfer being strongly recommended): - Credit card: bank charges, which usually vary between 1 and 2%, are not borne by the firm; - American Express card: a commission of 2.95% including tax will be collected for all payments. Remote card payments and split payments in several instalments for the same lot with the same card are not allowed; - Online payment up to €10,000 to https://www.aguttes.com/paiement/index.jsp ; - Bank transfer: from the buyer’s account and indicating the invoice number: IBAN FR76 3006 6109 1300 0203 7410 222 BIC CMCIFRPP Account holder AGUTTES Direct debit CIC PARIS ETOILE ENTREPRISES 178 RUE DE COURCELLES - 75017 PARIS - Cash: Articles L.112-6 and D.112-3 of the French Monetary and Financial Code: (i) Up to €1,000 for French tax residents or persons acting for the purposes of a professional activity; (ii) Up to €15,000 for individuals who have their tax domicile abroad (upon presentation of passports and proof of address); - Cheque (as a last resort): Upon presentation of two identity documents. No time limit for cashing is accepted in the event of payment by cheque. Issuance will only be possible twenty days after payment. Foreign cheques are not accepted. Defaulting auction winner: In the absence of cash payment by the buyer, the property may be put back for sale upon reiteration of the auctions at the request of the seller in accordance with the procedure of Article L.32114 of the French Commercial Code. If the seller does not make this request within three months of the auction, the sale shall be automatically terminated. In all cases, the defaulting buyer, due to its failure to pay, shall pay to AGUTTES: - All costs and incidentals incurred by AGUTTES relating to the collection of unpaid invoices (including legal fees); - Late payment penalties calculated by applying interest rates at the European Central Bank (ECB) semi-annual key rate (refinancing rate or Refi) in force plus five points on all sums due; - Damages to compensate for the loss suffered by AGUTTES (purchase costs, fees and commissions, VAT, storage, etc.). AGUTTES reserves the right to: - Communicate the name and contact details of the defaulting buyer to the seller in order to enable the latter to assert its rights; - Exercise or have exercised all the rights and remedies, in particular the right of retention, over any property of the defaulting buyer, of which AGUTTES has custody; - Prohibit the defaulting auction winner from bidding in the next sales organised by AGUTTES or from making the possibility of tendering there subject to the payment of a prior provision; - Proceed to the registration of the defaulting bidder on a file of bad payers shared between the different member auction houses. AGUTTES is indeed a member of the Central Register of prevention of the unpaid of the auctioneers with which the incidents of payment are likely to be registered. The rights of access, rectification and opposition for legitimate reasons are to be exercised by the debtor concerned at Symev 15 rue Freycinet 75016 Paris. Lot collection and storage: A lot awarded may only be delivered to the buyer after full payment of the purchase slip, collected in the AGUTTES bank account. The lots will be delivered to the purchaser in person after presentation of any document proving his identity or to the third party appointed by him and to whom he has entrusted an original power of attorney and a copy of his identity document. The lot is collected at the auction winner’s expense and risks only. Lots that have not been collected the same day after the end of the sale will be collected by appointment by the byer with the person mentioned for this purpose on the contact page at the beginning of the catalog. The place of delivery will be indicated in the email accompanying the invoice. The applicable storage fees are mentioned in the "Special Terms and Conditions" below. Resale of paid and non-collected lots: In the event that one or more lots awarded and paid for in the course of an auction have still not been collected by the buyer within the deadlines agreed upon the "Special Terms and Conditions" below and that the applicable storage, custody and preservation costs exceed the auction value of the lot(s), AGUTTES reserves the right to sell the lot(s) in order to be reimbursed for all costs due. IV- PRE-EMPTION RIGHT The French State may exercise a pre-emptive right on any public or private sale of cultural property. The State has a period of 15 days from the public sale to confirm the exercise of its pre-emptive right and subrogate itself to the buyer. V- EXPORT The formalities of exports (requests for certificate for a cultural good, export license) of the subjected lots are the responsibility of the purchaser and can require a four months delay. AGUTTES is at the disposal of its buyers to guide them in these steps. AGUTTES cannot be held responsible for delays. Under no circumstances shall AGUTTES be liable for the refusal or delay of the administrative decision. The refusal to issue a certificate or a license may not under any circumstances justify a failure or delay in payment by the buyer or a cancellation of the sale. VI- APPLICABLE LAW AND COMPETENT COURT
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