Conditions of purchase
CONDITIONS OF PURCHASE
Artcurial-Briest-Poulain-F.?Tajan
Artcurial-Briest-Poulain-F.?Tajan Artcurial-Briest-Poulain-F.?Tajan is a company of voluntary auction sales regulated by the law of the 10 July 2000.
In such capacity Artcurial-Briest-Poulain-F.?Tajan acts as the agent of theseller who contracts with the buyer.
The relationships between Artcurial-Briest-Poulain-F.?Tajan and the buyer are subject to the present general conditions of purchase which can be modified bysaleroom notices or oral indications given at the time of the sale, which will berecorded 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-Briest-Poulain-F.?Tajan is at disposal of the prospective 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-Briest-Poulain-F.?Tajan of their perception of the lot, but cannot constitute the proof of a fact.
c) The statements by made Artcurial-Briest-Poulain-F.?Tajan 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 statements Artcurial-Briest-Poulain-F.?Tajan by 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. Inversely, the indication of any defect whatsoever 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 organisation of the sales, prospective buyers are invited to make themselves known to Artcurial-Briest-Poulain-F.?Tajan before the sale, so as to have their personal identity data recorded.
Artcurial-Briest-Poulain-F.?Tajan reserves the right to ask any prospective buyer to justify his identity as well as his bank references.
Artcurial-Briest-Poulain-F.?Tajan 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-Briest-Poulain-F.?Tajan, is given that he acts as an agent on behalf of a third party.
c) The usual way to bid consists in attending the sale on the premises. However, Artcurial-Briest-Poulain-F.?Tajan may graciously accept to receive some bids by telephone from a prospective buyer who has expressed such a request before the sale.
Artcurial-Briest-Poulain-F.?Tajan 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, Artcurial-Briest-Poulain-F.?Tajan 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-Briest-Poulain-F.?Tajan may accept to execute orders to bid which will have been submitted before the sale and by Artcurial-Briest-Poulain-F.?Tajan which have been deemed acceptable.
Should Artcurial-Briest-Poulain-F.?Tajan receive several instructions to bid for the same amounts, it is the instruction to bid first received which will be given preference.
Artcurial-Briest-Poulain-F.?Tajan will bear no liability/responsibility 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-Briest-Poulain-F.?Tajan 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.
f) Artcurial-Briest-Poulain-F.?Tajan will conduct auction sales at their discretion, in accordance with established practices.
Artcurial-Briest-Poulain-F.?Tajan 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-Briest-Poulain-F.?Tajan reserves the right to designate the successful bidder, to continue the bidding or to cancel it, or to put the lot back up for bidding.
g) Subject to the decision of the person conducting the bidding for Artcurial-Briest-Poulain-F.?Tajan, 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.
3- The performance of the sale
a) in addition of the lot's hammer price, the buyer must pay the following costs and fees/taxes?:
1) Lots from the EEC?:
• From 1 to 15 000 euros?:
23 % + current VAT (for books, VAT = 1.265% of the hammer price?; for other categories, VAT = 4.508%
of the hammer price).
• From 15 001 to 600 000 euros?:
20 % + current VAT (for books, VAT = 1.1% of the hammer price?; for other categories, VAT = 3.92%
of the hammer price).
• Over 600 001 euros?:
12 % + current VAT (for books, VAT = 0.66% of the hammer price?; for other categories,
VAT = 2.35% of the hammer price).
2) Lots from outside the EEC?:
(indentified by an ).
In addition to the commissions and taxes indicated above, an additional import VAT will be charged (5,5% of the hammer price, 19,6% for jewelry).
3) The taxes (VAT on commissions and VAT on importation) can be retroceded to the purchaser on presentation of written proof of exportation outside the EEC.
An EEC purchaser who will submit his intra-Community VAT number will be exempted from paying the VAT on commissions.
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 3 000 euros, costs and taxes included, for French citizen, up to 7 600 euros, costs and taxes included, for foreign citizen on presentation of their identity papers.
- By cheque or 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).
b) Artcurial-Briest-Poulain-F.?Tajan 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-Briest-Poulain-F.?Tajan has a right of access and of rectification to the nominative data provided to Artcurial-Briest-Poulain-F.?Tajan 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-Briest-Poulain-F.?Tajan, 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-Briest-Poulain-F.?Tajan would prove unsufficient.
d) The lot will be delivered to the buyer only after the entire payment of the price, costs and taxes.In the meantime Artcurial-Briest-Poulain-F.?Tajan may invoice to the buyer the costs of storage of the lot, and if applicable the costs of handling and transport.
Should the buyer fail to pay the amount due, and after notice to pay has been given by Artcurial-Briest-Poulain-F.?Tajan 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 a 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, Artcurial-Briest-Poulain-F.?Tajan 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 generated 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-Briest-Poulain-F.?Tajan also reserves the right to set off any amount Artcurial-Briest-Poulain-F.?Tajan may owe the defaulting buyer with the amounts to be paid by the defaulting buyer.
Artcurial-Briest-Poulain-F.?Tajan reserves the right to exclude from any future auction, any bidder who has been a defaulting buyer or who has not fulfilled 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-Briest-Poulain-F.?Tajan will be authorized to move them into a storage place at the defaulting buyer's expense, and to release them to same after payment of corresponding costs, in addition to the price, costs and taxes.
4- The incidents of the 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-Briest-Poulain-
F.?Tajan 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-Briest-Poulain-F.?Tajan shall bear no liability/responsability whatsoever, and will have sole discretion to decide whether or not the bidding will take place again.
c) So as to facilitate the price calculation for prospective buyers, a currency converter may be operated by Artcurial-Briest-Poulain-F.?Tajan as guidance. Nevertheless, the bidding cannot be made in foreign currency and Artcurial-Briest-Poulain-F.?Tajan will not be liable for errors of conversion.
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-Briest-Poulain-F.?Tajan 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-Briest-Poulain-F.?Tajan.
Any reproduction thereof is forbidden and will be considered as counterfeiting to their detriment.
Furthermore, Artcurial-Briest-Poulain-F.?Tajan 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-Briest-Poulain-F.?Tajan catalogue may therefore constitute an illegal reproduction of a work which may lead its perpetrator 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 falling within the scope of specific rules
For sales of cars - including both cars of collection
and ordinary cars - special additional conditions apply, as stated hereafter.
In addition to the lot's hammer price, the buyer will have to pay the following costs per lot and by degressive brackes?:
• From 1 to 100 000 euros?: 16% + current VAT (i.e. 3,13% of the hammer price).
• Over 100 000 euros?: 10% + current VAT (i.e.1,96% of the hammer price).
a) Only the authenticity of the vehicle is guaranteed, taking into consideration the possible reservations made the description.
b) The vehicles are sold in their current condition. The information in the catalogue is not binding. Indeed, the condition of a car may vary between the time of its description in the catalogue and the time of its presentation at the sale. The exhibition taking place for several days prior to the sale and allowing awareness of the condition of the vehicles, no complaint will be accepted once the sale by auction is pronounced.
c) For administrative reasons, the designations
of the vehicles use the information given on the official vehicle registration documentation.
d) Considering the possible evolution of the condition of the cars, as stated under b), it is specified that the price ranges are given strictly for informational purposes and on a provisional basis. Now, the estimations will be put out at the beginning of the exhibition and if need be, corrected publicly at the time of the sale and recorded in the minutes thereof.
e) The bidders are deemed to have read the documentation relating to each vehicle, notably the technical inspections which are available at the auction sales company. However, some vehicles may be sold without having been submitted to the examination of technical inspection because of their age, of their noncirculating condition or of their competition aspect. The public will have to inquire about it at the time of the preview and sale.
f) The vehicles preceded by an asterisk (*) have been consigned by owners from outside the EEC. The buyers will have to pay a VAT of 5.5% in addition to the hammer price, for which buyers from outside the EEC will be able to be reimbursed on presentation of export documentation within a time limit of one month after the sale, failing which it will not be possible to obtain reimbursement of such VAT.
g) The buyer has the burden and the exclusive responsibility for the change of registration of vehicles, notably within the time limit set forth by law.
h) The removal of vehicles must absolutely take place on the day after the auction sale, at the latest. Beyond this time limit, they will bestored at the costs and risks of their owner.
8- 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.
9- Law and Jurisdiction
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.
