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AUDAP & MIRABAUD (hereafter A&M) is a company

of voluntary auction sales regulated by the law of July

10th 2000. In such capacity it acts as the agent of the

seller who contracts with the buyer. The relationships

between A&M and the buyer are subject to the present Sale

Conditions which can be modified by saleroom notices or

oral indications given at the time of the sale, which will be

recorded in the official sale record. Purchased lots will have

to be paid immediately after the sale.

The sale will be conducted in Euros. Purchasers will pay

in addition to the hammer price, a buyer’s premium of

21,5%+VAT i.e. 22,68% for books and 25,8% for other

items.

GOODS FOR AUCTIONS / GUARANTEES

The auctioneer is bound by the indications in the catalogue,

modified only by announcements made at the time of the

sale noted in the legal records thereof. The order of the

catalog can be modified. An exhibition prior to the sale

permits buyers to establish the conditions of the lots offered

for sale and no claims will be accepted after the hammer has

fallen. Some differences may appear between the original

work and its illustration, there will be no claims in such

matter. The measurements are given only as an indication.

The statements about any restoration, mishape or harm

arisen concerning the lot are only made to facilitate the

inspection thereof by the prospective buyer and remain

subject to his/her own or to his/her expert’s appreciation.

The absence of statements 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. The indication of

any defect whatsoever does not imply the absence of any

other defects, being specified that basic restorations and

relining do not decrease the value of the good since they are

considered as conservatory measures. Dimensions are given

for guidance only. The state of the frames is not guaranteed.

Any changes to the conditions of sale or to the descriptions

in the catalogue shall be announced verbally during the sale,

and appended to the official sale record (procès-verbal).

An estimate in euros of the likely sale price is mentioned

in the catalogue, or on a separate sheet, for each lot. This

is provided for indication only. The hammer price may of

course be above or below this estimate.Pursuant to legal

rules, A&M is liable for 5 years, starting from the date of

the auction sale.

BIDS

The highest and final bidder is deemed to be the purchaser,

and must provide his/her name and address. Payment must

be made immediately after the sale. No lot will be transferred

to the purchaser before it has been paid for in full. In the

event of payment by cheque or bank transfer, property may

be withheld until payment has been cleared. Any storage

costs that may result are to be paid by the purchaser. In case

of dispute after the word « adjugé » has been pronounced,

i.e. if two or more bidders simultaneously make the same

bid, either vocally or by sign, and claim title to the lot after

the word « adjugé » has been pronounced, the said lot can

be immediately reoffered for sale by the auctioneer, and all

those present may take part in the bidding.

ABSENTEE BIDS

Bidders unable to attend the sale must complete the absentee

bid form in this catalogue that needs to be received by A&M

at least one day before the sale together with bank references

and a copy of the passport. A&M will act on behalf of the

bidder, in accordance with the instructions contained in

the absentee bid form, and try to purchase the lot(s) at the

lowest possible price, in no circumstances exceeding the

maximum amount stipulated by the bidder. A&M will act

in the bidder’s best interest and any information concerning

the latter will remain confidential. Telephone bidding are

services provided for clients. A&M declines responsibility

for any errors, omissions, technical problem that may occur

or if the call has not been answered. Should two written bids

be identical, the first one received takes precedence.

PREEMPTION OF THE PURCHASED LOTS

The 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 after the word «adjugé»

has been pronounced, the representative of the French state

expressing then the intention of the State to substitute for

the last bidder, provided he/she confirms the pre-emption

decision within fifteen days. If such confirmation has not

been made, the bidder will have to pay his/her item bought

without delay. A&Mwill not bear any liability/responsibility

for the conditions of the pre-emption by the French State.

PAYMENT

The sale shall be conducted in euros. Any payments must

be effected in euros. Payment is due immediately after the

sale. The payment is made once money has been deposited

to A&M‘s account.

Payments can be made in the following ways:

By credit card in the saleroom (VISA or MASTERCARD)

or on line

http://paiement.audap-mirabaud.com/

By certified cheque or crossed cheque in euros, upon

presentation of a valid passport. In case of payment by

non certified cheque, the collection of purchase may be

postponed until the money has been received on A&M’s

account.

By bank transfer in euros.

code Swift BNPPARB PARIS A CENTRALE FR

BIC BNPAFRPPPAC

IBAN : FR76 3000 4008 2800 0116 9748 076

AUDAP MIRABAUD SARL

dépot clients SVV art L321 6 CC

RIB

Bank code Branch code Account number Key

30004 00828

00011697480 76

Any buyer who wants to execute payment by bank transfer

issued from a foreign bank account must pay additional fee

of € 20.

In cash (Decret June 24, 2015) : up to € 1000 (inc.

premium) for French citizens or professionals. up to € 15 000

(inc. premium) for foreign citizens upon presentation of

valid passport and evidence of residence abroad.

IMPORTATION / EXPORTATION

The items marked with * fall under the scope of the

temporary importation rules. Additional fees of 5,5% will

apply, unless the buyer exports the goods outside the EU.

Such buyers shall inform A&M on the day of the sale.They

will be entitled, under specific conditions, to deduct the VAT

due on the auctioneer’s fees. European buyers who pay VAT

can have the VAT deducted on the auctioneers’ fees upon

meetings of the legal requirements. A&M remains at the

disposal of any buyer should the buyer needs information

on this matter.

DEFAULT PAYMENT

Should the buyer fail to pay the amount due, and after

notice to pay has been given by A&M to the buyer without

success, the buyer will be be charged additional fees

of 10% of the hammer price, with a minimum of € 250,

together with late payment interest. A&M also reserves

the right to set off any amount. Such disposition does not

exclude compensatory damages and the enforcement of the

“procédure de folle enchère” as hereafter described. Should

the buyer fail to pay the amount due, and after notice to pay

has been given by A&M 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 2 month from

the date of the sale, the sale will be automatically cancelled,

without prejudice to any damages owed by the defaulting

buyer. In addition to the additional fees above mentionned,

the defaulting buyer will be liable for 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. The information

requested on the absentee bid form are mandatory to have

your order proceeded. You can ask for and modify any data

relating to you or your can refuse for legitimate purpose in

writing to us with a copy of your ID.

A&M has registered to the Central Register of Bad Buyers

to which any payment issue may be declared. To access to

such data, to modify these or to oppose to any proceeding

of the data, please contact SYMEV 15 rue Fressinet 75016

Paris, France.

STORAGE - COLLECTION OF PURCHASES -

SHIPING

1. Bulk items purchased at auction, and not collected from

the saleroom by 10 am the day after the sale, will be stored

in Basement Level 3 at the Hôtel Drouot.

The bidding slip (bordereau), indicating proof of payment,

must be presented when property is collected. Storage costs

are due at the current rate.

Storage fees will be applicable as follow :

Administrative fees / lot VAT incl.: 5 €

Storage and insurance fees / lot VAT incl.:

1€ / day, the first 4 working days

1€/ 5€/ 10€/ 20€/day, from the 5th working day, regarding

the nature of the lot* Storage fees are capped at 50€ Vat

incl. / withdrawal.

A 50% reduction on storage fees is applied for foreign

clients and province trader, on substantiating document.

Storage fees are offered for lots shipped

by Drouot TRANSPORT !

Shipping invoice accepted up to 10 days after the sale

Drouot Magasinage :

6bis, rue Rossini – 75009 Paris.

From Monday to Saturday, 9am-10am and 1pm-6pm.

Tél :

+33 (0)1 48 00 20 18

or 56 - mail :

magasinage@drouot.com

Drouot Transport :

9, rueDrouot – 75009 Paris.

From Monday to Friday, 9am-1pm and 2pm-6,5pm.

Tél :

+33 (0)1 48 00 22 49

- mail : transport@drouot-geodis.

com

Lots shall be released upon production of the paid invoice

and/ or the lot’s label.

Any lot that has not been collected within a year after

its arrival at Drouot storage facility will be considered

abandoned, and its property rights will be transferred to

Drouot as a guarantee to cover storage fees.

*Are considered:

Very small: jewellery, works on paper without frame, lots

with a volume up to 0,10m3 and which weigh under 10kg

Small: paintings smaller than 1,5 x 1,5m, lots with a volume

under 0,10m3 and which weigh between 10kg and 20kg,

lots with a volume between 0,10m3 and 0,50m3 and which

weigh under 20kg

Medium: lots with a volume under 0,50m3 and which weigh

between 20kg and 50kg, lots with a volume between 0,50m3

and 2m3 and which weigh under 50kg, paintings larger than

1,5 x 1,5 m

Large: lots with a volume above 2m3, lots which weigh

above 50kg, groups of lots

2. No item purchased will be transported to A&M’s offices

and kept free of charge for a fortnight.

No item will be sent by mail by A&M.

If the buyer has no carrier, any request forshipping by

mail will have to be made directly, upon presentation of

the invoice paid to DROUOT TRANSPORT (transport@

drouot-geodis.com

, tel + 33 1 48 00 22 49) who will be in

charge of the shipping, the wrapping and the following of

such shipping.

Payment for the transport must be made directly to the

carrier. Storage fees are offered for lots shipped by Drouot

TRANSPORT if the Shipping invoice accepted up to 10

days after the sale. A&M will not be liable for any misact of

DROUOT TRANSPORT.

3. Insurance. At the fall of the hammer the title of property

shall be transferred to the purchaser, who assumes

immediate responsibility for insurance. Uncollected

property will be stored at the costs, risks and perils of the

purchaser.

A&M declines liability for lots placed in storage. The clauses

of these general conditions of purchase are independent

from each other. Should a clause whatsoever be found

null and void, the others shall remain valid and applicable.

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 exclusivejurisdiction of the

Courts of France. The French language version of the Sales

Conditions prevails on the English version.

Δ

The lot is in accordance with regulation CE 338-97 of

1996/09/12, section 2-W and prior to 1947/06/01. For

any export from EU, the buyer will have to get an export

CITES.

SALES Conditions A&M