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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 indica-
tions 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 prospec-
tive 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 state-
ments Artcurial SAS by relating to a resto-
ration, 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 what-
soever 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 organi-
sation of the sales, prospective buyers are
invited to make themselves known to Artcurial
SAS before the sale, so as to have their per-
sonal 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
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 atten-
ding the sale on the premises. However, Artcu-
rial 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, Artcu-
rial 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 instruc-
tions 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/res-
ponsibility 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 success-
ful bidder, to continue the bidding or to can-
cel 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 calcu-
lation 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 the different stages of
following costs and fees/taxes:
1) Lots from the EU:
• From 1 to 150 000 euros: 25 % + current VAT.
• From 150 001 to 2 000 000 euros: 20 % +
current VAT.
• Over 2 000 001 euros: 12 % + current VAT.
2) Lots from outside the EU: (identified by
an
m
).In addition to the commissions and taxes
indicated above, an additional import fees
will be charged (5,5% of the hammer price, 20%
for jewelry and watches, motorcars, wines and
spirits and multiples).
3) VAT on commissions and import fees can
be retroceded to the purchaser on presenta-
tion of written proof of exportation outside
the EU.
An EU purchaser who will submit his intra-
community 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).
4)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 unsuffi-
cient.
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 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
CONDITIONS OF PURCHASE
IN VOLUNTARY AUCTION SALES
will be charged to the buyer, starting on the
first Monday following the 90
th
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 gene-
rated 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 fulfil-
led 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 de-
faulting 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.
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 repro-
duction of a work which may lead its perpe-
trator 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 FALLINGWITHIN
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 (
▲
).
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. LAWAND 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.
PROTECTIONOF CULTURAL
PROPERTY
Artcurial SAS applies a policy to prevent
the sale of looted or stolen cultural
property.
Bank:
V_9_FR