FRAYSSE & Associés. LIVRES D'HEURES. MANUSCRITS. INCUNABLES.....

44 / 46

b) Lots coming from non EU countries (mentioned in the catalogue by
«HEU» ):
In addition to the above-mentioned fees and taxes,VAT on the import is due
(currently it is 5,5 % of the hammer price for art works and goods and items
of collection and antiquities).
Taxes (VAT on fees and VAT on import) may be reimbursed to the buyer
on presentation of proof of export of the goods from the European Union.
A buyer who has his/her residence or head office in the European Union
and submits an intra-Community VAT number will be exempted from
paying the VAT on commissions.
The buyer may pay by the following means:
- Cash: maximum 1,000 Euros including fees and costs for French residents,
maximum 15,000 Euros including fees and taxes for non professional forei-
gners upon presentation of their identity papers and a proof of their fiscal
residence;
- By check upon presentation of identity papers: in case of payment with
a non certified check, only the cashing of the check is considered to be
payment
- By bank transfer: all costs and fees are for the buyer
- By credit card: VISA and MasterCard only
- Foreign checks are not accepted.
4 – Collecting of purchases and transfer of risks
No lot shall be delivered to buyers before the full payment of all amounts
due. In case of payment with a non certified check or by bank transfer, the
delivery of the goods shall be differed until the amounts are cashed.
From the moment of purchase on auction, the goods are under the entire
responsibility of the buyer. The lot must to be insured by the buyer imme-
diately after the purchase. The buyer will have no recourse against FRAYSSE
& ASSOCIÉS in case of theft, loss or deterioration of the lot after the pur-
chase, or if the compensation he will receive from the insurer would be
insufficient.
For sales at Drouot, the lots shall be collected at the storage place of the
Hôtel Drouot. Only fragile or very valuable items shall be collected within
a delay of 7 days at the premises of FRAYSSE & Associés or at the specia-
lized warehouse of which the address shall be given to the buyer.
In any event, all costs for storage and shipping will be at the expense of the
buyer and will be billed directly either by the Hôtel Drouot, either by the
warehouse, according to their rates in effect. The Auction house cannot be
hold liable for storage of goods. The buyer is solely liable and responsible
for the shipping of goods and the related costs. FRAYSSE & ASSOCIÉS may
invoice the buyer for costs of storage, handling and shipping incurred on
behalf of the buyer since the date of the sale.
5 – Default of Payment
In case the buyer does not pay within a delay of three months from the date
of auction and after a formal notice remained unsuccessful, the item will be
put on sale again on « folle enchère » at the request of the seller.
If the seller does not make such a request within a delay of three months as
of the date of auction, the sale is rescinded as of right, without prejudice of
damages due by the defaulting buyer.
In case the Buyer does not pay all amounts due within a delay of three
months or in case of annulment of the sale by a Court decision, auction fees
remain due by the Buyer.
In such case FRAYSSE & ASSOCIÉS is authorized to cash the check given
as a guarantee or to charge the bank account of the defaulting Buyer with
the amount corresponding to the guarantee required in application of the
sales conditions. The amount will be affected pro rata to the Seller and to
FRAYSSE & ASSOCIÉS to indemnify totally or partially their losses caused
by the failure of the Buyer, without prejudice of complementary indemni-
fication due.
In any event, FRAYSSE & ASSOCIÉS reserves its right to claim from the
defaulting buyer
-Interests equal to the key rate of the European Central Bank on the 1st of
January or July, increased by 10 points ;
- The reimbursement of extra costs resulting from the failure to pay, inclu-
ding storage, transport, catalogue, legal fixed recovery costs and any addi-
tional recovery costs , etc. …;
- Buying fees and costs and the loss corresponding to the Seller’s fees and
costs suffered by FRAYSSE & ASSOCIÉS;
- The payment of the difference between the initial hammer price and
• either the hammer price of the re-sale on « folle enchères » if it is lower,
as well as the costs relating to the re-sale,
• or the low estimate of the item, if the sale is rescinded as of right.
FRAYSSE & ASSOCIÉS also reserves its right to make compensation by off-
setting any amounts due by the defaulting seller. FRAYSSE & ASSOCIÉS
reserves its right to exclude from any of its future sales, a defaulting buyer or
any bidder who does not comply with the present general sale conditions.
6 – Legislation concerning Cultural Goods
The French State is entitled to exercise a pre-emption right on art works pur-
suant to the rules set forth in Article L 321-9 of the Code of Commerce, right
by which the State is subrogated to the buyer. The declaration that the State
intends to use this right is made immediately to the Auctioneer or Auction
house after the hammer stroke.
The decision of the administrative authority must be confirmed within a
delay of 15 days as of the auction or the sale. FRAYSSE & ASSOCIÉS cannot
be hold liable for the conditions of the pre-emption by the French State.
The export of certain cultural goods is subject to a certificate authorizing
the free movement of cultural goods. FRAYSSE & Associés and/or the seller
cannot be hold liable in case the authorities refuse the certificate.
7 – Applicable Law and Jurisdiction
Pursuant to article L. 321-17 of the French commercial Code, civil liability
proceedings relating to voluntary auction sales are subject to a five-year
limitation period starting from the date of the auction.
Any dispute relating to the present sale conditions and to all sales shall be
governed exclusively by French Law and shall be submitted to the jurisdic-
tion of the competent Court of Paris, whatever the place of residence of the
seller or the buyer.
The present general conditions of sale on auction are a translation of the
French version for information purposes only. Only the French version is
legally binding.
In order to settle a dispute that has arisen after the sale between the seller
and the buyer, FRAYSSE & ASSOCIES reserves its discretional right to buy
the good(s) from the Purchaser and to resell it (them) on its own behalf,
pursuant to the conditions set forth in Article L 321-5 II of the Code of
Commerce.
For any dispute with an operator of a voluntary auction sale, a complaint
may be filed with the “Commissaire du Gouvernement” of the “Conseil des
Ventes Volontaires de Meubles aux Enchères publiques”, by post (19 ave-
nue de l’Opéra, 75001 PARIS) or via Internet .
1 Société à Responsabilité limitée, RCS Paris 443 513 643 00017, siège 16, rue de la Banque, 75002 PARIS, Tél 01 53 45 92 10, Email : - Agrément Conseil des
Ventes volontaires n° 2002035 en date du 10/01/2002 Commissaires priseurs habilités : Vincent FRAYSSE et Christophe du REAU
2Texts are available on
3Société Anonyme, RCS Paris 682 004 338, siège social 10, rue du Faubourg Montmartre, 75009 Paris
4 In accordance with the Law « informatique et libertés » of 6 January 1978 modified in 2004, you have a right of access and rectification of information which concern you by
contacting FRAYSSE & ASSOCIÉS. You may also object to the treatment of such information for legitimate purposes.