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AMOUNTS PAYABLE BY THE BUYER

The buyer must pay Tajan, in addition to the “hammer price”, commission

of 25 % excl. tax of the sale price on the first € 60 000, 20 % excl. tax after

€ 60 001 and up to € 1 200 000, 12 % excl. tax for the portion above

€ 1 200 000. In addition, VAT shall be charged at the rate of 20 % (5.5 %

for books).

Items originating from a country outside the European Union shall

be marked with the symbol ƒ and ƒƒ.

ƒ : In addition to the regular buyer’s premium, a commission of 5.5 %

(i.e.,

6.6 % inclusive of VAT) will be charged to the buyer.

ƒƒ : In addition to the regular buyer’s premium, a commission of 20 %

(i.e. 24 % incl. VAT) will be charged to the buyer.

These additional costs may, in certain cases, be reimbursed to the buyer.

For more information, please contact our payment department on :

+33 1 53 30 30 33.

PAYMENT

Payment must be made immediately after the sale.

If the successful bidder did not register before the sale, he/she must

provide proof of identity and bank references.

Payments may be made by one of the following methods :

- Bank transfer in euros,

- Visa card or Master Card (subject to the presentation of valid proof of

identity).

- In cash in euros :

for

individual european union resident, and for

all professionals, to an equal or lower amount of €1 000.

- In cash in euros : for individual only and non european union resident, to

an equal or lower amount of € 15 000. - Certified banker’s draft in euros

subject to the presentation of valid proof of identity.

Cheques drawn on a foreign bank will not be accepted.

Cheques and bank transfers must be denominated in euros and made

out to the order of TAJAN SA ; you have the choice to pay on either

banks :

NON-PAYMENT

In accordance with Article 14 of French Act no. 2000-642 of July 10

th

2000,

if the successful bidder fails to pay for an item after the issuance of a formal

demand that remains without effect, the item shall be reauctioned at the

seller’s request. If the price of the new bid is lower than the original false

bidder’s price, the false bidder shall pay the difference. If the seller does

not make such a request within three months of the auction, the sale

shall be cancelled by operation of law, without prejudice to the damages

payable by the false bidder.

TAJAN adhere to the “Registre central de prévention des impayés des

Commissaires priseurs” to which payment incidents may be reported.

Debtors may exercise their rights of access, rectification and opposition.

Tajan reserves the right to claim the following from the false bidder :

- interest at the statutory rate,

- the reimbursement of the additional costs incurred by reason of his/ her

default,

- payment of the sale price or :

- the difference between this price and the resale price if the latter is

lower, as well as the costs incurred in relation with the re-auction.

- the difference between this price and the original false bidder’s price if

the latter is lower, as well as the costs incurred by the re-auction.

Tajan also reserves the right to offset any amounts which the false

bidder owes to it.

Tajan reserves the right to ban any bidder who fails to comply with its

general terms and conditions of sale from attending any future auction.

FRENCH STATE’S RIGHT OF PRE-EMPTION

The French State has a right of pre-emption in respect of certain works of

art offered at auction. If the State wishes to exercise this right in respect of

a sale, it must express its intention to do so within 15 days of the sale. In

this case, the State shall be substituted for the last highest bidder.

IMPORT AND EXPORT

The import and export of goods may be subject to authorisation (export

certificates, customs authorisations). It is the buyer’s responsibility to check

which authorisations are required.

COLLECTION OF ITEMS PURCHASED

The buyer may not take receipt of any lot until such time as he/she has

paid all amounts due in full delivery of the goods.

In the event of a payment by cheque or bank transfer, delivery of the

goods may be deferred until such time as the payment has cleared.

In this case, storage costs shall be borne by the buyer and Tajan shall

incur no liability whatsoever in this respect.

COLLECTION OF UNSOLD ITEMS

The seller must collect any unsold items as soon as possible and in any

case within 14 days of the auction.

If the unsold items are not collected, the cost of storage shall be paid by

the seller at the usual rate applicable in such matters.

Tajan shall not be bound by any warranty vis-à-vis the seller in respect of

such storage.

Tajan’s payment department is open every working day from :

9:00 AM to 12:30 PM and from 2:00 PM to 5:30 PM.

T.

+33 1 53 30 30 33,

or

+33 1 53 30 30 27.

Buyers may only take possession of items sold after Tajan has received

full payment of the sale price and the related commission and costs.

As soon as an item is pronounced "sold", it shall be placed under

the soleresponsibility of the buyer.

It shall be the buyer’s responsibility to insure the item purchased

immediately.

BANQUE HSBC

- Paris Lafayette, 75009 Paris, France

Code SWIFT IBAN

CCFRFRPP FR 76 3005 6009 2409 2400 1375 856

Code banque Code guichet Compte Clé

30056 00924 0924

0013758 56

BANQUE OBC

- 3, avenue Hoche, 75008 Paris, France

Code SWIFT IBAN

NSMBFRPP FR76 3078 8009 0001 1409 5000 159

Code banque Code guichet Compte Clé

30788 00900 01140950001 59