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FRAYSSE & ASSOCIÉS
1
is a company organizing voluntary auction sales
regulated by Articles L 312-4 and further of the Code of Commerce and
the Ministerial Order of 21 February of 2012 defining ethical obligations of
voluntary action operators
2
.
FRAYSSE & ASSOCIÉS acts as the agent of the seller. The relationships
between FRAYSSE & ASSOCIÉS and the buyer are subject to the present ge-
neral conditions of purchase, which can be modified by saleroom notices
or oral indications given at the time of the sale and which will be recorded
in the official sale record. Participation in auction sales in the salesroom,
by telephone or via Internet, implies the unconditional acceptation of these
sales conditions.
Online auction sales are organized on the Internet site
www.drouotlive.
com, which is a technical platform allowing to participate at distance by
electronic media in the auction that takes place in the salesroom. The com-
mercial partner of users of Drouot Live is the company Auctionpress
3
. Users
who want to participate in the sale online via the platform Drouot Live
should take note and accept without any reserve the Terms of Use of this
platform
(www.drouotlive.com”), which are independent and additional to
these sales conditions.
For certain sales and namely judicial sales on public auction, specific
conditions apply in addition to these sales conditions. Potential buyers
should take note of the specific conditions and publicities, available from
FRAYSSE & ASSOCIÉS and on its Internet site.
1 – Goods put at auction
The prospective buyers are invited to inspect any goods in which they may
be interested, before the auction takes place, and notably during the exhibi-
tions. FRAYSSE & ASSOCIÉS is at disposal of prospective buyers to provide
them with reports about the conditions of the lots. On demand, a condition
report will be provided for lots starting of an estimation above 1000 Euros.
The description of lots in catalogues are made by the Auction house and
the Expert who assists it and may be amended at the moment the lot is pre-
sented on auction, which will be recorded in the official sale record. The
description of goods are made in accordance with the knowledge available
at the date of the sale and FRAYSSE & Associés cannot be hold liable for
any error or omission. The description concerning the provenance and/or
the origin of the item is given upon indications from the seller and FRAYSSE
& Associés cannot not be hold liable for any error, omission or false decla-
ration.
Dimensions, weight and estimates are given for guidance only. The colors
of art works in the catalogue may differ because of the printing process.
The absence of statements in the catalogue, condition reports, on labels or
in oral statements relating to a restoration, mishap or harm, does not imply
that the item is in a perfect state of condition, nor that it is exempt from any
restoration, wear, cracks, relining or other defects. Among others, relining,
re-parketing or lining or any other conservation measure of the item is not
mentioned.
Goods are sold in the condition they are in at the date of sale and no claim
is admissible after the auction, the buyer being responsible for inspecting
and verifying the condition of the item before the sale.
Estimates are provided by the Auction house for guidance only and confer
no guarantee. They cannot be considered as a giving the certainty that the
item will be sold for the estimated price or even within the bracket of esti-
mates.
2 – The Sale
Prospective buyers are invited to make themselves known to FRAYSSE &
ASSOCIÉS before the sale, so as to have their personal identity data re-
corded
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.
FRAYSSE & ASSOCIÉS reserves the right to ask any prospective buyer to jus-
tify his identity as well as his bank references. Any bidder is deemed acting
on his own behalf except when prior notification, accepted by FRAYSSE &
ASSOCIÉS, is given that he acts as an agent on behalf of a third party.
FRAYSSE & ASSOCIÉS, as a sales intermediary, is subject to obligations
concerning the fight against money laundering and the financing of terrorist
organizations in accordance with article L 621-2 of the French Monetary
and Financial Code.
The usual way to bid consists in attending the sale on the premises.
FRAYSSE & ASSOCIÉS reserves its right to refuse access to the sales room
for legitimate reasons.
Any bidder may file a purchase order by written, or may by telephone or by
Internet (online bidding). To this effect, the bidder must fill in a registration
form and send bank references or give a French check or signed credit card
imprint for an amount corresponding at least to 30 % of the estimate value
of the lot. two days before the sale. For certain sales additional financial
guarantees may be requested as specified in specific sales conditions. If
the ordering customer does not obtain the lot, FRAYSSE & ASSOCIÉS will
destroy the bank references, check or credit card imprint.
If the ordering client is declared to be the Buyer of the lot, FRAYSSE & AS-
SOCIÉS is authorized in case of failure to pay, to cash the check or use the
bank references or credit card imprint for the use of total or partial payment
of the hammer price and fees, increased by interests, costs, etc. as indicated
below (“Default of payment”).
FRAYSSE & Associés takes care without charges of bids by telephone and
purchase orders. FRAYSSE & Associés cannot be hold liable in case of pro-
blems of telephone contact, malfunctioning of Internet or of Drouot Live,
nor in case of mistakes or omissions in the performance of purchase orders
and bids. The present general sales conditions prevail over the conditions
of use of Drouot Live for online bids.
In case of two identical purchase orders, the purchase order made first shall
have priority. In case a bid is made in the sales room for an equivalent
amount of a purchase order, the bidder who is present in the sales room
shall have the priority.
The bidder who made the highest and final bid is declared to be the buyer
by the hammer stroke and the pronouncing of the word “Adjugé”. At the
instant the bid is accepted, the sale is perfect and irrevocable and the lots
are under the entire responsibility of the Buyer. In accordance with Article
L 121-21-8 of the French Commercial Code, the delay of retraction does
not apply.
FRAYSSE & ASSOCIÉS is authorized to mention on the official record of the
sale all information provided for by the buyer before the sale. The buyer will
be hold liable for any false declaration.
In the event that the auctioneer admits that two bidders made a bid simulta-
neously for the same amount, the lot will immediately be offered again for
sale and all potential buyer will be entitled to bid again.
In case the seller has stipulated a reserve price, FRAYSSE & Associés re-
serves the right to bid on behalf of the seller until the reserve price has been
reached. The reserve price cannot exceed the minimum estimate mentio-
ned in the sale catalogue or modified publicly before the sale.
FRAYSSE & ASSOCIÉS conducts the auction sales at their discretion and
ensures that the liberty of auction is respected as well as the equality
between all bidders, in accordance with established practices. FRAYSSE &
ASSOCIÉS reserves the right to refuse any bid, to organize the bidding in
the most appropriate manner, to withdraw any lot from the sale, to combine
or to divide lots.
3 – Payment of the hammer price and auction fees & costs
The Sale is made in cash and in Euros. The buyer commits him/herself to
pay personally and immediately the hammer price and the fees and costs
which are at his/her expense and any taxes which could be due. The buyer
will have to give or confirm immediately his/her identity and bank refe-
rences.
In addition to the hammer price, the buyer will have to pay for each lot the
following fees, costs and taxes:
a) Lots coming from the European Union:
The standard rate is 24,84 % including VAT (20,70 % without VAT) and
for books 22 % including VAT ( 20,85% without VAT)
This rate may however vary for some sales and potential buyers should
consult the particular conditions and announcements of each sale and
inform with the Auction house. The rate is also announced at the beginning
of the sale on auction.
GENERAL CONDITIONS OF SALE ON AUCTION LOTS 120 UP TO 383