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CONDITIONS OF PURCHASE
IN VOLUNTARY AUCTION SALES
V_9_FR
Bank :
ARTCURIAL
Artcurial SAS is an operator of voluntary auction
sales regulated by the law articles L321-4 and
following of the Code de Commerce.
In such capacity Artcurial SAS acts as the agent
of the seller who contracts with the buyer.
The relationships between Artcurial SAS and
the buyer are subject to the present general
conditions of purchase which can be modified
by saleroom notices or oral indications before
the sale, which will be recorded in the official
sale record.
1. GOODS FOR AUCTION
a) The prospective buyers are invited to
examine any goods in which they may be
interested, before the auction takes place, and
notably during the exhibitions.
Artcurial SAS is at disposal of the prospective
buyers to provide them with reports
about the conditions of lots.
b) Description of the lots resulting from the
catalogue, the reports, the labels and the verbal
statements or announcements are only the
expression by Artcurial SAS of their perception
of the lot, but cannot constitute the proof
of a fact.
c) The statements by made Artcurial SAS
about any restoration, mishap or harm arisen
concerning the lot are only made to facilitate
the inspection thereof by the prospective buyer
and remain subject to his own or to his expert’s
appreciation. The absence of statements
Artcurial SAS by relating to a restoration,
mishap or harm, whether made in the catalogue,
condition reports, on labels or orally, does not
imply that the item is exempt from any current,
past or repaired defect. Inversely, the indication
of any defect whatsoever does not imply the
absence of any other defects.
d) Estimates are provided for guidance only
and cannot be considered as implying
the certainty that the item will be sold for the
estimated price or even within the bracket
of estimates.
Estimates cannot constitute any warranty
assurance whatsoever.
The estimations can be provided in several
currencies; the conversions may, in this case or,
be rounded off differently than the legal rounding
2 . THE SALE
a) In order to assure the proper organisation
of the sales, prospective buyers are invited to
make themselves known to Artcurial SAS before
the sale, so as to have their personal identity
data recorded.
Artcurial SAS reserves the right to ask any
prospective buyer to justify his identity as well as
his bank references and to request a deposit.
Artcurial SAS reserves the right to refuse
admission to the auction sales premises to any
prospective buyer for legitimate reasons.
b) Any person who is a bidder undertakes to
pay personally and immediately the hammer
price increased by the costs to be born by the
be delivered after cashing, eight working days
after the cheque deposit. If the buyer has not
settled his invoice yet or has not collected his
purchase, a fee of 50€+VAT per lot, per week
(each week is due in full) covering the costs of
insurance and storage will be charged to the
buyer, starting on the first Monday following
the 90th day after the sale. Should the buyer
fail to pay the amount due, and after notice
to pay has been given by Artcurial SAS to the
buyer without success, at the seller’s request,
the lot is re-offered for sale, under the French
procedure known as “procédure de folle
enchère”. If the seller does not make this
request within three months from the date of the
sale, the sale will be automatically cancelled,
without prejudice to any damages owed by the
defaulting buyer.
In addition, Artcurial SAS reserves the right to
claim against the defaulting buyer, at their option:
- interest at the legal rate increased by five
points,
- the reimbursement of additional costs
generated by the buyer’s default,
- the payment of the difference between the
initial hammer price and the price of sale after
“procédure de folle enchère” if it is inferior as
well as the costs generated by the new auction.
Artcurial SAS also reserves the right to set off any
amount Artcurial SAS may owe the defaulting
buyer with the amounts to be paid by the
defaulting buyer.
Artcurial SAS reserves the right to exclude from
any future auction, any bidder who has been
a defaulting buyer or who has not fulfilled these
general conditions of purchase.
e) For items purchased which are not
collected within seven days from after the
sale (Saturdays, Sundays and public holidays
included), Artcurial SAS will be authorized to
move them into a storage place at the defaulting
buyer’s expense, and to release them to
same after payment of corresponding costs,
in addition to the price, costs and taxes.
f) The buyer can obtain upon request
a certificate of sale which will be invoiced € 60.
4. THE INCIDENTS
OF THE SALE
In case of dispute, Artcurial SAS reserves
the right to designate the successful bidder, to
continue the sale or to cancel it or to put the lot
up for sale.
a) In case two bidders have bidden vocally,
by mean of gesture or by telephone for the same
amount and both claim title to the lot, after the
bidding the lot, will immediately be offered again
for sale at the previous last bid, and all those
attending will be entitled to bid again.
b) So as to facilitate the presentation of the
items during the sales, Artcurial SAS will be able
to use video technology.
Should any error occur in operation of such,
which may lead to show an item during the
bidding which is not the one on which the bids
have been made, Artcurial SAS shall bear no
liability/responsability whatsoever, and will have
sole discretion to decide whether or not the
bidding will take place again.
buyer and any and all taxes or fees/expenses
which could be due. Any bidder is deemed
acting on his own behalf except when prior
notification, accepted by Artcurial SAS, is given
that he acts as an agent on behalf of a third
party.
c) The usual way to bid consists in attending
the sale on the premises. However, Artcurial SAS
may graciously accept to receive some bids by
telephone from a prospective buyer who has
expressed such a request before the sale.
Artcurial SAS will bear no liability /
responsability whatsoever, notably if the
telephone contact is not made, or if it is made
too late, or in case of mistakes or omissions
relating to the reception of the telephone. For
variety of purposes, Artcurial SAS reserves its
right to record all the telephone communications
during the auction. Such records shall be kept
until the complete payment of the auction price,
except claims.
d) Artcurial SAS may accept to execute orders
to bid which will have been submitted before
the sale and by Artcurial SAS which have been
deemed acceptable. Artcurial SAS is entitled to
request a deposit which will be refunded within
48hours after the sale if the lot id not sold to this
buyer.
Should Artcurial SAS receive several instructions
to bid for the same amounts, it is the instruction
to bid first received which will be given
preference.
Artcurial SAS will bear no liability/responsibility
in case of mistakes or omission of performance
of the written order.
e) In the event where a reserve price has been
stipulated by the seller, Artcurial SAS reserves
the right to bid on behalf of the seller until the
reserve price is reached.
The seller will not be admitted to bid himself
directly or through an agent. The reserve price
may not be higher than the low estimate for the
lot printed in or publicly modified before the sale.
f) Artcurial SAS will conduct auction sales at
their discretion, ensuring freedom auction and
equality among all bidders, in accordance with
established practices.
Artcurial SAS reserves the right to refuse any
bid, to organise the bidding in such manner as
may be the most appropriate, to move some
lots in the course of the sale, to withdraw any lot
in the course of the sale, to combine or to divide
some lots in the course of the sale.
In case of challenge or dispute, Artcurial SAS
reserves the right to designate the successful
bidder, to continue the bidding or to cancel it, or
to put the lot back up for bidding.
g) Subject to the decision of the person
conducting the bidding for Artcurial SAS, the
successful bidder will be the bidder would will
have made the highest bid provided the final bid
is equal to or higher than the reserve price if such
a reserve price has been stipulated.
The hammer stroke will mark the acceptance
of the highest bid and the pronouncing of the
word “adjugé” or any equivalent will amount
to the conclusion of the purchase contract
between the seller and the last bidder taken
in consideration.
No lot will be delivered to the buyer until full
payment has been made.In case of payment
by an ordinary draft/check, payment will be
deemed made only when the check will have
been cashed.
h) So as to facilitate the price calculation
for prospective buyers, a currency converter
may be operated by Artcurial SAS as guidance.
Nevertheless, the bidding cannot be made
in foreign currency and Artcurial SAS will not be
liable for errors of conversion.
3 . THE PERFORMANCE
OF THE SALE
a)
In addition of the lot’s hammer price, the
buyer must pay following costs and fees/taxes:
25 % + current VAT.
VAT on commissions and import fees can be
retroceded to the purchaser on presentation
of written proof of exportation outside the EU.
An EU purchaser who will submit his intra-com-
munity VAT number and a proof of shipment of
his purchase to his EU country home address
will be refunded of VAT on buyer’s premium.
The payment of the lot will be made cash, for the
whole of the price, costs and taxes, even when
an export licence is required.
The purchaser will be authorized to pay
by the following means:
- In cash: up to 1 000 euros, costs and taxes
included, for French citizens and people acting
on behalf of a company, up to 15 000 euros,
costs and taxes included, for foreign citizens
on presentation of their identity papers;
- By cheque drawn on a French bank on presen-
tation of identity papers and for any company,
a KBis dated less than 3 months (cheques drawn
on a foreign bank are not accepted);
- By bank transfer;
- By credit card: VISA, MASTERCARD or AMEX
(in case of payment by AMEX, a 1,85% additional
commission corresponding to cashing costs will
be collected).
The distribution between the lot's hammer price
and cost and fees can be modified by particular
agreement between the seller and Artcurial SAS
without consequence for the buyer.
b) Artcurial SAS will be authorized to
reproduce in the official sale record and on the
bid summary the information that the buyer
will have provided before the sale. The buyer
will be responsible for any false information
given. Should the buyer have neglected to give
his personal information before the sale, he will
have to give the necessary information as soon
as the sale of the lot has taken place.
Any person having been recorded by Artcurial
SAS has a right of access and of rectification to
the nominative data provided to Artcurial SAS
pursuant to the provisions of Law of the 6 July
1978.
c) The lot must to be insured by the buyer
immediately after the purchase. The buyer
will have no recourse against Artcurial SAS,
in the event where, due to a theft, a loss or
a deterioration of his lot after the purchase, the
compensation he will receive from the insurer
of Artcurial SAS would prove unsufficient.
d) The lot will be delivered to the buyer only
after the entire payment of the price, costs and
taxes. If payment is made by cheque, the lot will
5 . PRE-EMPTION
OF THE FRENCH STATE
The French state in entitled to use a right
of pre-emption on works of art, pursuant
to the rules of law in force.
The use of this right comes immediately after
the hammer stroke, the representative of the
French state expressing then the intention of the
State to substitute for the last bidder, provided he
confirms the pre-emption decision within fifteen
days.
Artcurial SAS will not bear any liability/
responsibility for the conditions of
the pre-emption by the French State.
6 . INTELLECTUAL
PROPERTY RIGHT -
COPYRIGHT
The copyright in any and all parts of the
catalogue is the property of Artcurial SAS.
Any reproduction thereof is forbidden and will
be considered as counterfeiting to their
detriment.
Furthermore, Artcurial SAS benefits from a legal
exception allowing them to reproduce the lots for
auction sale in their catalogue, even though the
copyright protection on an item has not lapsed.
Any reproduction of Artcurial SAS catalogue
may therefore constitute an illegal reproduction
of a work which may lead its perpetrator to
be prosecuted for counterfeiting by the holder
of copyright on the work.The sale of a work of art
does not transfer to its buyer any reproduction
or representation rights thereof.
7 . ITEMS FALLING WITHIN
THE SCOPE OF SPECIFIC
RULES
The International regulation dated March
3rd 1973, protects endangered species and
specimen. Each country has its own lawmaking
about it. Any potential buyer must check before
bidding, if he is entitled to import this lot within
his country of residence.
Any lot which includes one element in ivory,
rosewood…cannot be imported in the United
States as its legislation bans its trade whatever
its dating may be. It is indicated by a (s).
8. REMOVAL OF
PURCHASES
The buyer has to insure its purchase, and
Artcurial SAS assumes no liability for any
damage items which may occur after the sale.
All transportation arrangements are the sole
responsibility of the buyer.
9. SEVERABILITY
The clauses of these general conditions
of purchase are independant from each other.
Should a clause whatsoever be found null
and void, the others shall remain valid
and applicable.
10. LAW AND
JURISDICTION
In accordance with the law, it is added that
all actions in public liability instituted on the
occasion of valuation and of voluntary and
court-ordered auction sales are barred at the
end of five years from the hammer price or
valuation.
These Conditions of purchase are governed
by French law exclusively. Any dispute relating
to their existence, their validity and their binding
effect on any bidder or buyer shall be submitted
to the exclusive jurisdiction of the Courts
of France.
PROTECTION OF
CULTURAL
PROPERTY
Artcurial SAS applies a policy to prevent
the sale of looted or stolen cultural
property.