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ARTCURIAL
Artcurial SAS is an operator of voluntary auction sales
regulated by the law articles L321-4 and following of the Code
de Commerce.
In such capacity Artcurial SAS acts as the agent of the seller
who contracts with the buyer. The relationships between
Artcurial SAS and the buyer are subject to the present general
conditions of purchase which can be modified by saleroom
notices or oral indications before the sale, which will be
recorded in the official sale record.
1. GOODS FOR AUCTION
a)
The prospective buyers are invited to exa-
mine any goods in which they may be interested,
before the auction takes place, and notably during
the exhibitions.
Artcurial SAS 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 SAS of their perception
of the lot, but cannot constitute the proof of a fact.
c)
The statements by made Artcurial SAS
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
SAS 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 es-
timates.
Estimates cannot constitute any warranty assu-
rance whatsoever.
The estimations can be provided in several cur-
rencies; 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 SAS before
the sale, so as to have their personal identity data
recorded.
Artcurial SAS reserves the right to ask any pros-
pective buyer to justify his identity as well as his
bank references and to request a deposit.
Artcurial SAS reserves the right to refuse admis-
sion to the auction sales premises to any prospec-
tive 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 SAS, 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 SAS
may graciously accept to receive some bids by
telephone from a prospective buyer who has
expressed such a request before the sale.
Artcurial SAS will bear no liability / responsabi-
lity 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
SAS 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 SAS may accept to execute orders
to bid which will have been submitted before
the sale and by Artcurial SAS which have been
deemed acceptable. Artcurial SAS is entitled to
request a deposit which will be refunded within
48hours after the sale if the lot id not sold to this
buyer.
Should Artcurial SAS receive several instructions
to bid for the same amounts, it is the instruction to
bid first received which will be given preference.
Artcurial SAS 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 SAS 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 or publicly modified before the sale.
f)
Artcurial SAS will conduct auction sales at
their discretion, ensuring freedom auction and
equality among all bidders, in accordance with
established practices.
Artcurial SAS 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 SAS re-
serves 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 SAS, 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 considera-
tion.
No lot will be delivered to the buyer until full
payment has been
made.Incase of payment by
an ordinary draft/check, payment will be deemed
made only when the check will have been cashed.
h)
So as to facilitate the price calculation for
prospective buyers, a currency converter may be
operated by Artcurial SAS as guidance. Never-
theless, the bidding cannot be made in foreign
currency and Artcurial SAS will not be liable for
errors of conversion.
3 . THE PERFORMANCE
OF THE SALE
a)
In addition of the lot’s hammer price, the
buyer must pay the different stages of following
costs and fees/taxes:
1) Lots from the EU:
• From 1 to 150 000 euros: 25 % + current VAT.
• From 150 001 to 2 000 000 euros: 20 % + current
VAT.
• Over 2 000 001 euros: 12 % + current VAT.
2) Lots from outside the EU: (identified by
an
m
).In addition to the commissions and taxes
indicated above, an additional import fees will
be charged (5,5% of the hammer price, 20% for
jewelry and watches, motorcars, wines and spirits
and multiples).
3) VAT on commissions and import fees can
be retroceded to the purchaser on presentation
of written proof of exportation outside the EU.
An EU purchaser who will submit his intra-com-
munity VAT number and a proof of shipment of his
purchase to his EU country home address will be
refunded of VAT on buyer’s premium.
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 fol-
lowing means:
- In cash: up to 1 000 euros, costs and taxes
included, for French citizens and people acting on
behalf of a company, up to 15 000 euros,
costs and taxes included, for foreign citizens
on presentation of their identity papers;
- By cheque drawn on a French bank on presen-
tation of identity papers and for any company, a
KBis dated less than 3 months (cheques drawn on
a foreign bank are not accepted);
- By 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).
4)The distribution between the lot's hammer price
and cost and fees can be modified by particular
agreement between the seller and Artcurial SAS
without consequence for the buyer.
b)
Artcurial SAS will be authorized to repro-
duce 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 res-
ponsible for any false information given. Should
the buyer have neglected to give his personal in-
formation 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
CONDITIONS OF PURCHASE
IN VOLUNTARY AUCTION SALES