non certified check, only the cashing of the check is considered to be payment intends to use this right is made immediately to the Auctioneer or Auction - By bank transfer: all costs and fees are for the buyer house after the hammer stroke. - By credit card: VISA and MasterCard only - Foreign checks are not accepted. The decision of the administrative authority must be confirmed within a delay of 15 days as of the auction or the sale. FRAYSSE & ASSOCIÉS cannot be hold 4 – Collecting of purchases and transfer of risks liable for the conditions of the pre-emption by the French State. No lot shall be delivered to buyers before the full payment of all amounts due. The export of certain cultural goods is subject to a certificate authorizing the In case of payment with a non certified check or by bank transfer, the delivery free movement of cultural goods. FRAYSSE & Associés and/or the seller cannot of the goods shall be differed until the amounts are cashed. be hold liable in case the authorities refuse the certificate. From the moment of purchase on auction, the goods are under the entire res- 7 – Applicable Law and Jurisdiction ponsibility of the buyer. The lot must tobe insured by the buyer immediately after the purchase. The buyer will have no recourse against FRAYSSE & ASSO- Pursuant to article L. 321-17 of the French commercial Code, civil liability CIÉS in case of theft, loss or deterioration of the lot after the purchase, or if the proceedings relating to voluntary auction sales are subject to a five-year limi- compensation he will receive from the insurer would be insufficient. tation period starting from the date of the auction. For sales at Drouot, the lots shall be collected at the storage place of the Hôtel Any dispute relating to the present sale conditions and to all sales shall be Drouot. Only fragile or very valuable items shall be collected within a delay of governed exclusively by French Law and shall be submitted to the jurisdiction 7 days at the premises of FRAYSSE & Associés or at the specialized warehouse of the competent Court of Paris, whatever the place of residence of the seller of which the address shall be given to the buyer. or the buyer. In any event, all costs for storage and shipping will be at the expense of the The present general conditions of sale on auction are a translation of the buyer and will be billed directly either by the Hôtel Drouot, either by the war- French version for information purposes only. Only the French version is le- ehouse, according to their rates in effect. The Auction house cannot be hold gally binding. liable for storage of goods. The buyer is solely liable and responsible for the shipping of goods and the related costs. FRAYSSE & ASSOCIÉS may invoice In order to settle a dispute that has arisen after the sale between the seller and the buyer for costs of storage, handling and shipping incurred on behalf of the the buyer, FRAYSSE & ASSOCIES reserves its discretional right to buy the goo- buyer since the date of the sale. d(s) from the Purchaser and to resell it (them) on its own behalf, pursuant to the conditions set forth in Article L 321-5 II of the Code of Commerce. 5 – Default of Payment For any dispute with an operator of a voluntary auction sale, a complaint In case the buyer does not pay within a delay of three months from the date of may be filed with the “Commissaire du Gouvernement” of the “Conseil des auction and after a formal notice remained unsuccessful, the item will be put Ventes Volontaires de Meubles aux Enchères publiques”, by post (19 avenue on sale again on « folle enchère » at the request of the seller. de l’Opéra, 75001 PARIS) or via Internet (www.conseildesventes.fr). If the seller does not make such a request within a delay of three months as 8 – VAT refund for trade european buyers of the date of auction, the sale is rescinded as of right, without prejudice of damages due by the defaulting buyer. VAT registered businesses from France may have all VAT invoiced refunded to them if they request so in writing to the shipping department within a In case the Buyer does not pay all amounts due within a delay of three months delay of 1 month of the date of sale and if they provide their VAT registration or in case of annulment of the sale by a Court decision, auction fees remain number and proof that the property has been shipped to another EU country, due by the Buyer. in the respect of administrative rules and within one month of the date sale. SVV FRAYSSE & ASSOCIES will charge €50 for each refund processed. In such case FRAYSSE & ASSOCIÉS is authorized to cash the check given as a guarantee or to charge the bank account of the defaulting Buyer with the Personal Data amount corresponding to the guarantee reuired in application of the salesq conditions. The amount will be affected pro rata to the Seller and to FRAYSSE For the purpose of sales on auction, private sales, marketing and services, & ASSOCIÉS to indemnify totally or partially their losses caused by the failure FRAYSSE & ASSOCIES may collect personal data from sellers and buyers, in- of the Buyer, without prejudice of complementary indemnification due. cluding by recording video images, telephone conversations and electronic messages. In any event, FRAYSSE & ASSOCIÉS reserves its right to claim from the de- faulting buyer FRAYSSE & ASSOCIÉS may use personal data to comply with its legal obli- -Interests equal to the key rate of the European Central Bank on the 1st of gations and for the purpose of its professional activities, namely for com- January or July, increased by 10 points ; mercial and marketing purposes. FRAYSSE & ASSOCIÉS commits to not sell, - The reimbursement of extra costs resulting from the failure to pay, including rent, transfer or give access to third parties to your personal data without your storage, transport, catalogue, legal fixed recovery costs and any additional consent, unless FRAYSSE & ASSOCIÉS is legally required to do so or for a recovery costs , etc. …; legitimate reason (legal and accounting duties, fight against fraud and abuse, - Buyingfees and costs and the loss corresponding to the Seller’s fees and costs transport, for the purpose of its rights of defense, etc.) suffered by FRAYSSE & ASSOCIÉS; - The payment of the difference between the initial hammer price and In accordance with the Law « informatique et libertés » of 6 January 1978 HEU either the hammer price of the re-sale on « folle enchères » if it is lower, modifies and the European Regulation n°2016/679/UE of 27 April 2016, any as well as the costs relating to the re-sale, person has the right of access, rectification, portability and deletion of his/hers HEU or the low estimate of the item, if the sale is rescinded as of right. data or to limit its use. You may also refuse to accept the use of you personal data. You may exercise your rights upon justification of a proof of your identity FRAYSSE & ASSOCIÉS also reserves its right to make compensation by offset- by contacting Maître Vincent FRAYSSE ting any amounts due by the defaulting seller. FRAYSSE & ASSOCIÉS reserves (contact@fraysse.net – tel : 01 53 45 92 10 - Fax : 01 53 45 92 19). its rightto exclude from any of itsfuture sales, a defaulting buyer or any bidder who does not comply with the present general sale conditions. 6 – Legislation concerning Cultural Goods The French State is entitled to exercise a pre-emption right on art works pur- suant to therules set forth in Article L 321-9 of the Code of Commerce, right by which the State is subrogated to the buyer. The declaration that the State 1Sociétés par actions simplifiées, RCS Paris 443 513 643 00017, siège 16, rue de la Banque, 75002 PARIS, Tél 01 53 45 92 10, Email : contact@fraysse.net - Agrément Conseil des Ventes volontaires n° 2002035 en date du 10/01/2002 Commissaires priseurs habilités : Vincent FRAYSSE et Christophe du REAU 2 Texts are available on www.legifrance.gouv.fr 3 Société Anonyme, RCS Paris 682 004 338, siège social 10, rue du Faubourg Montmartre, 75009 Paris 4In accordance with the Law « informatique et libertés » of 6 January 1978 modified in 2004, you have a right of access and rectification of information which concern you by contacting FRAYSSE & ASSOCIÉS. You may also object to the treatment of such information for legitimate purposes.