CONDITIONS OF SALE BY PUBLIC AUCTION

1. Company Identification

Expertisez SAS, a simplified joint-stock company with a share capital of €12,000, founded in 2002, is an operator of voluntary public auctions (“O.V.V.”) governed by the French law of July 20, 2011 and registered with the French Auction Houses Council under registration number 068-2015.

Its registered office is located at 75 boulevard Haussmann, 75008 Paris, France.

2. Organization of the Sale

The auctions organized by Expertisez SAS are public sales broadcast live online.

The works are presented on the Expertisez, Encherissez and Drouot.com websites, where the sale dates and times are indicated.

The auction is conducted in euros, even when relayed through foreign platforms using another currency.

The successful bidder shall be the highest and last bidder.

Viewing of the lots takes place at the offices of Expertisez SAS, strictly by appointment only, according to the dates and times specified in the sale information.

Expertisez SAS invites bidders to consult the information specific to each sale, which may supplement these conditions.

The auctioneer reserves the right to withdraw any lot before or during the sale. Such withdrawal will be announced before the lot is offered for sale.

3. Condition of the Lots and Responsibility of Bidders

Prospective buyers are encouraged to examine any lot of interest before bidding and to satisfy themselves as to its condition.

The lots are sold “as is”. The condition of frames is not guaranteed.

Upon request, Expertisez SAS may provide condition reports for the described lots. These reports are provided for guidance only.

High-definition photographs may also be supplied upon request to assist bidders in assessing the condition of the works.

It is the responsibility of potential buyers to inspect each lot personally or by any other appropriate means and to form their own opinion before the sale.

4. Specific Lots and Liability

Lots marked with an asterisk (*) are sold by a member of the auction house, the auction house itself, or one of its experts, in accordance with Article L.321-5 II of the French Commercial Code.

In accordance with Article L.321-17 of the French Commercial Code, any action relating to the liability of the auction operator is time-barred after five years from the valuation or auction sale.

5. Photographs and Reproductions

Photographs published in catalogues, on websites or on platforms relaying the sale are not contractual.

Colours, shades, dimensions and conditions may differ from the actual appearance of the works or objects offered for sale.

Photographs may not show all defects, restorations, wear or specific characteristics of the lots.

Additional high-definition photographs may be supplied upon request to allow bidders to better assess the condition of the works.

Potential buyers are responsible for requesting any additional information prior to the sale and, whenever possible, examining the lots during the viewing sessions held by appointment.

No claim shall be accepted regarding elements visible in the photographs or that could reasonably have been identified prior to the sale.

6. Bidding Procedures

Subject to having provided sufficient financial guarantees prior to the sale, bidders may participate:

1. in the auction room;
2. by absentee bid;
3. by telephone bidding request;
4. online through the platforms relaying the sale.

Estimates are provided for guidance only and do not guarantee the final hammer price.

All prospective buyers must register beforehand on the Drouot platform for verification purposes, including those participating by telephone.

The auction house reserves the right to request additional documents relating to the bidder’s ability to pay.

The bidding increments remain at the auctioneer’s discretion.

7. Technical Failure — Internet and Platforms

Participation in online auctions implies acceptance of the risks inherent in electronic communication networks.

Expertisez SAS shall not be held liable for interruptions, malfunctions, delays, transmission errors, technical failures or unavailability of the internet network, the website or any third-party platform relaying the sale, including Drouot.com, beyond its control.

Consequently, Expertisez SAS shall not be liable for any inability of a bidder to place bids, follow the sale live, or for any error or omission resulting from technical failure.

Online bidding is conducted under the sole responsibility of the bidders, who must ensure the reliability of their internet connection and equipment.

In the event of proven technical malfunction, Expertisez SAS reserves the right, at its sole discretion, to suspend, extend or interrupt the sale without liability.

8. Ownership and Responsibility After the Sale

The buyer shall receive an invoice.

Ownership of the lot shall transfer only upon full and effective payment to Expertisez SAS of the hammer price, commissions and related fees.

From the fall of the hammer, the purchased lots are under the full responsibility of the buyer.

It is the buyer’s responsibility to insure the lots immediately after adjudication.

Payment must be made in full upon receipt of the invoice.

9. Payment and Buyer’s Premium

In addition to the hammer price, the successful bidder shall pay a buyer’s premium of 30% inclusive of taxes.

An additional commission of 1.8% applies to bids placed through internet platforms.

Automatic bids generated by Drouot are subject to the same additional 1.8% commission.

Payment must be made immediately after the sale.

An invoice indicating the available payment methods will be issued at the end of the auction.

Accepted payment methods are:

1. bank transfer to Société Générale, Paris Saint-Honoré branch, 74 rue du Faubourg Saint-Honoré, 75008 Paris, France
2. Account No.: 0303100022073657 33
3. IBAN: FR76 3000 3030 3100 0220 7365 733
4. BIC: SOGEFRPP;
5. cash payments within the limits permitted by applicable law;
6. Visa and MasterCard payments at the office or online through secure payment systems.

Expertisez SAS reminds buyers that it does not have access to the banking information provided during registration on the platforms relaying the auction.

All payments must therefore be made directly after the sale according to the methods proposed by the auction house.

10. Default of Payment

In accordance with Article 14 of French Law No. 2000-642 of July 10, 2000, failing payment by the successful bidder after formal notice has remained unsuccessful, the lot may be reoffered for sale at the request of the seller at the defaulting bidder’s expense and risk.

If the seller does not make such request within one month from the adjudication, the sale shall automatically be cancelled, without prejudice to any damages owed by the defaulting bidder.

The auction operator is a member of the Central Register for the Prevention of Unpaid Debts maintained by French auctioneers, where payment incidents may be recorded.

Rights of access, rectification and objection for legitimate reasons may be exercised by the debtor concerned with SYMEV, 15 rue Freycinet, 75016 Paris, France.

11. Collection of Purchases

Lots will only be released to the buyer after full payment of all sums due.

Collection procedures depend on the nature of the lots and the specific information relating to each sale.

For lots kept at the auction house, collection is strictly by appointment only.

Sold lots may be transferred to the Hôtel Drouot storage facilities unless a prior request has been made to the auction house before the sale for small or fragile lots.

Once lots have been transferred to storage, Expertisez SAS will not be able to retrieve them for the buyer.

Storage fees at Drouot are payable by the buyer.

Return to the auction house is possible only upon prior request.

Large items will be stored at TSE Storage Facility, 36-56 rue Louis David, 93170 Bagnolet, France.

Paintings, sculptures and small works of art returned to the auction house benefit from one month of free storage.

Lots not collected within one month after the sale may be transported and stored at the buyer’s expense, risk and peril at TSE or an equivalent storage facility.

In all cases, a minimum storage fee of €5 per day may be charged.

12. Governing Law and Jurisdiction

In accordance with French law, all civil liability actions relating to valuations and voluntary or judicial public auctions are subject to a limitation period of five years from the adjudication or valuation.

These general conditions of sale are governed exclusively by French law.

Any dispute relating to their existence, validity, enforceability against any bidder or buyer, or their execution, shall be submitted to the competent courts within the jurisdiction of Paris, France.