92 Adjudication: The highest final bid will be deemed the successful bidder, all accepted means of bidding combined (order, internet, telephone, on-site, etc.). The adjudication is formalised by the pronouncement of the word “Sold” in French (“Adjugé”), which forms the sales agreement between the seller and the successful bidder. Each lot is identified with a number corresponding to the number assigned to it in the auction catalogue. Sellers are prohibited from bidding directly on the lots they own. In the event of a simultaneous “double-bid” recognised by the auctioneer, the lot will be put back up for auction again, with all bidders present being able to participate in this second adjudication. Withdrawal: Each bid and adjudication is final and binds the person who placed it. The successful bidder may not withdraw his or her bid, whether they are present in the auction room, on the telephone, online or have placed a purchase order. Transfer of risk and ownership: The transfer of ownership and risks between the seller and the successful bidder occurs when the auctioneer pronounces the word “sold” in French (“Adjugé”). AGUTTES disclaims any liability for losses and damages that the lots may suffer from the moment of adjudication. The successful bidder must insure the acquired lots as soon as the lot is adjudicated to him. III- EXECUTION OF THE SALE Buyer’s premium: In addition to the hammer price, the successful bidder must pay a fixed buyer’s premium, due for each acquired lot, calculated as follows: - 25% excl. tax + VAT at the rate in force, i.e. 30% including tax on the first €150,000 - 23% excl. tax + VAT at the rate in force, i.e. 27,6% including taxe for amounts over € 150,001. Exception: For books which benefit from a reduced VAT rate: 25% (excluding taxes), i.e. 26.37% (including taxes). In addition to the hammer price and the buyer’s premium, the successful bidder must pay all taxes and duties including VAT as well as any administrative, handling, and storage costs. Payment of the sums due must be made “in one single instalment” by the successful bidder, immediately after adjudication. Payment is made in euros. Any potential bank charges applicable will not be deducted from the amounts due. VAT: The VAT rate is 20% (or 5.5% for books). As a matter of principle, unmarked lots will be sold under the VAT gross margin scheme. The buyer’s premium and additional costs will be increased by an amount in lieu of VAT, which will not be separately mentioned in our sale slips. By way of exception, and at the request of the seller, the general VAT system may be applied to goods offered for auction by an EU professional. These goods will be marked by the ¤ sign. Possible VAT refunds apply for: 1- The professional from the European Union, (i) with an intra-Community VAT number and (ii) providing proof of the export of lots from France to another Member State; 2- Non-residents of the European Union upon provision of (i) a customs export document, on which AGUTTES appears as sender (ii) when the export occurs within three months of the auction date or the date of obtaining the export permit. Payment terms Legal payment methods accepted by AGUTTES’ accounting (payments by credit card or wire transfer are strongly recommended): - Credit card: bank charges, which usually vary between 1 and 2%, are not borne by the auction house; - American Express card: a commission of 2.95% (including taxes) will be charged for all payments. Remote card payments and split payments in several instalments for the same lot with the same card are not allowed; - Online payment: up to €10,000 to https://www.aguttes.com/paiement-enligne - Bank transfer: from the buyer’s account and indicating the invoice number: IBAN FR76 3006 6109 1300 0203 7410 222 BIC CMCIFRPP Account holder AGUTTES Direct debit CIC PARIS ETOILE ENTREPRISES 178 RUE DE COURCELLES - 75017 PARIS - Cash: Articles L.112-6 and D.112-3 of the French Monetary and Financial Code: (i) Up to €1,000 for French tax residents or individuals acting for the purposes of a professional activity; (ii) Up to €15,000 for individuals whose tax residence is abroad (upon presentation of a passport and proof of residence); - Cheque (as a last resort): Upon presentation of two forms of identification documents. No time limit for cashing is accepted in the event of payment by cheque. Issuance will only be possible twenty days after payment. Foreign cheques are not accepted. Defaulting auction winner: In the absence of timely payment by the buyer, the item may be put back up for auction upon reiteration of the bids at the seller’s request in accordance with the procedure of Article L.321-14 of the French Commercial Code. If the seller does not make this request within three months of the auction, the sale shall be automatically cancelled. In all cases, the defaulting buyer, due to lack of payment, shall be held liable to pay to AGUTTES: • All costs and incidental expenses incurred by AGUTTES relating to the collection of unpaid invoices (including legal fees); • Late payment penalties calculated by applying interest rates at the European Central Bank (ECB) semi-annual key rate (refinancing rate or Refi) increased by five points on the total amount; • Damages to compensate for the loss suffered by AGUTTES (purchase costs, fees and commissions, VAT, storage, etc.). AGUTTES reserves the right to: • Communicate the name and contact details of the defaulting buyer to the seller in order to enable the latter to assert their rights; • Exercise or have exercised all the rights and remedies, in particular the right of retention, over any property of the defaulting buyer, of which AGUTTES may have custody; • Prohibit the defaulting successful bidder from bidding in future auctions organised by AGUTTES or make the possibility of bidding in future auctions contingent upon the payment of a prior provision; • Proceed to the registration of the defaulting bidder on a database of bad payers shared among different participating auction houses. Indeed, AGUTTES is a member of the Central Register for the prevention of unpaid dues of auctioneers upon which incidents of non-payment are likely to be registered. The rights to access, rectify and object for legitimate reasons may be exercised by the concerned debtor at Symev 15 rue Freycinet 75016 Paris. Collection and storage of lots: An awarded lot may only be delivered to the buyer after full payment of the purchase slip, received by the AGUTTES bank account. The lots will be handed over to the purchaser in person after presentation of any document proving his identity or to the third party appointed by him and to whom he has entrusted an original power of attorney and a copy of his identity document. The lot is collected at the buyer’s sole risk and expenses. Lots that have not been collected on the same day after the end of the auction must be collected by the buyer upon appointment with the person mentioned for this purpose on the contact page at the beginning of the auction catalogue. The location of the collection place will be indicated in the email accompanying the invoice. The applicable storage fees are mentioned in the “Special Terms and Conditions” below. Resale of paid and non-collected lots: In the event that one or more lots awarded and paid for in the course of an auction have still not been collected by the buyer within the timeframe agreed upon in the “Special Terms and Conditions” below and that the applicable storage, custody and preservation costs exceed the auction value of the lot(s), AGUTTES reserves the right to put the lot(s) back up for auction or sale in order to reimburse all costs due.
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