Payment shall be made in full in euros. In addition to the hammer price per lot and
digressive selling fees, buyers shall be required to pay the following taxes and charges:
• 25% tax-free of the hammer price up to and including € 150 000
• 20.50% tax-free of any amount in excess of € 150 000 up to and including € 500 000
• 17% tax-free of any amount in excess of € 500 000
All the lots of this collection are coming from the US, therefore the buyer’s
premium indicated above will possibly be increased with importation fees of
5,5% without VAT, with the current VAT .
For more details, please refer to the paragraph purchaser part III.
Adding: V.A.T. (20%)
The auction will follow the order of the catalogue numbers. The Auction House and
Experts reserve the right, in the interest of sales, to group together or split the catalogue
numbers. The sizes and weight of the works are provided on an indicative basis.
CONDITION OF THE OBJECTS
We have provided information on the condition of the objects in accordance with our
means. Goods are sold in the condition they are found at the time of sale. The condition
of the items noted in the catalogue is on a strictly indicative basis. In cases where there
is no note in the catalogue, this in no way implies that the lot is in perfect condition or
does not need to be restored, have wear and tear, cracks, require re-lining or contain other
imperfections. As an opportunity is afforded to examine the items described in the
catalogue in the form of an exhibition, no claims will be accepted with respect to the
condition thereof, once the auction has been completed and the item handed over. Re-
Lining, cradling, and lining are considered to be a conservation measure, not a defect. On
request, a report on the condition of the item can be provided for lots whose value is
estimated at above €1000. Estimations are provided on a purely indicative basis. The
information on the source/origin of the item is provided by the seller and Binoche et
Giquello SARL may not be held liable for this.
BIDDING
All bidders who wish to make an offer or bid by telephone may send a request, by post,
email or fax to Binoche et Giquello SARL, along with their bank details. The telephone
auctions are a free service provided to customers who are not in a position to attend.
Binoche et Giquello SARL and its staff cannot be held liable in the event of a problem
with the telephone connection. When two bids are identical, priority is given to the first
bid received. In the event of auction, the price to be paid is the auction price, plus fees, in
accordance with the applicable conditions at the time of sale.
ONLINE AUCTIONS
A facility for online auctions is provided. Auctions are carried out on the
www.drouotlive.com website, a technical platform for remote participation in public
auctions taking place in the auction rooms. Auctions press is the partner company for
users of Drouot Live. Users wishing to participate in online auctions via the Drouot Live
platform must familiarize themselves, and accept, without reservation, the conditions of
use of this platform (available at www.drouotlive.com), which are independent and
additional to the present terms and conditions of sale.
PURCHASER
I/The purchaser shall be the highest and last bidder provided that the auction price is
equal to or greater than any reserve. If a reserve price has been stipulated by the seller,
Binoche et Giquello SARL reserves the right to make bids on behalf of the seller until the
last auction increment below that amount, either by making successive bids, or by making
bids in response to other bidders. However, the seller will not be permitted to make bids
either directly or through an agent. The fall of the hammer marks the end of the auction
and the word “sold” or any other equivalent shall result in the formation of a contract
between the seller and the last accepted bidder. In the event of a dispute at the end of
the bidding, i.e. If it has been established that one or more bidders simultaneously made
an equivalent bid, either aloud, or by making a sign, and claim the item after “sold” is
pronounced, the object will be immediately put to auction again at the price offered by
the bidders and the public will be invited to bid again. Once sold, the items become the
sole responsibility of the buyer. The buyer should take measures to ensure that the lot is
insured as of the purchase. The buyer may not hold Binoche et Giquello SARL, liable in
the event of loss, theft or damage to the lot.
II/VAT-Profit margin scheme- goods not marked by a symbol:
A/All unmarked goods will be sold under the profit margin scheme and the auction price
will not be increased by VAT. The purchase commission will be increased by a VAT
equivalent amount (20 % except for books at 5.5%) included in the margin. This VAT
forms part of the purchase commission and will not be mentioned separately in our
documents.
III/Lots from outside the EU under the temporary admission scheme: (marked by a Ɵ in
the catalogue and/or stated at the beginning of the sale process). To the commissions
and taxes indicated above at the beginning of the sale conditions, additional costs of 5.5
% pre-tax should be added to the auction price or 20 % pre-tax for jewels and watches,
wines and spirits, multiples and automobiles, additional costs increased by VAT currently
20% (5.5% for books).
IV /Reimbursement conditions for the additional costs and VAT (cf: 7th VAT Directive
applicable on 01.01.1995)
A/ If the lot is exported to a non-member state of the EU, the additional costs and VAT
on the commissions and on the additional costs may be reimbursed to the buyer non-
resident of the EU on presentation of proof of export outside the EU providing the buyer
has sent to SARL Binoche et Giquello copy n°3 of the customs export form and that this
export took place within two months as from the auction date (beyond this deadline, no
reimbursement will be possible). Binoche et Giquello SARL should be shown as the sender
of the said customs document.
B/ If the lot is delivered in a member state of the EU, the VAT on the commissions and on
the additional costs may be reimbursed to an EU buyer who proves having an
Intracommunity VAT number and a document proving delivery in their member state
subject to providing proof of transport from France to another member state, within one
month as from the sale date (beyond this deadline, no reimbursement will be possible).
PAYMENT
The buyer is required to pay in full and provide their name and address. In accordance
with TRACFIN rules, payment may not be made by a third party. In the event of payment
by non-certified cheque, the delivery of the items may be postponed until the cheque
has been processed. A number of weeks may be required. The buyers may not take delivery
of their purchases until payment has been received by the bank. Cheques from foreign
banks will only be authorised after prior agreement by the Auction House. To that end,
buyers are encouraged to obtain, before the auction, a letter of credit from their bank for
an approximate value of the amount they intend to spend, to be provided to the Auction
House. Payment in cash in accordance with Decree n°2010-662 of 16 June 2010 pursuant
to Article L. 112-6 of the Monetary and Financial Code on the prohibition on payment in
cash for certain debts. For exports outside the EU, reimbursement of VAT may only be
obtained after obtaining proof that the item has been exported within 2 months of the
sale. Reimbursement will be made in the name of the buyer. (cf: 7th VAT Directive
applicable as of 01.01.1995). Buyer slips are payable at the reception. Failing payment
within 30 days, Binoche et Giquello SARL may require as of right and without any prior
notice, the payment of compensation of € 40 for recovery costs (Art L 441-3 and Art L
441-6 of the Commercial Code).
FAILURE TO MAKE PAYMENT
In accordance with the provisions of Article L. 321-14 of the Commercial Code, should
the buyer fail to make the payment, after notice has remained without effect, the item
will be placed for sale on the request of the seller for false bidding; if the seller does not
formulate a request within one month of the auction, they give us all rights to act in
their name and on their behalf, as we choose, to pursue the buyer for cancellation of the
sale three months after the sale, or to pursue execution of the payment of the said sale,
in both cases claiming all damages and interest, fees and other sums we deem to be
desirable.
COLLECTION AND DISPATCH OF PURCHASES
Unless agreed in advance with the buyer, large objects and furniture should be
collected from storage at Hôtel Drouot. Other lots should be collected within 15 days
from OVV Binoche et Giquello. Once the deadline has passed, storage will be invoiced
at 2€ minimum per working day. Drouot storage: Any item/lot that remains in the
room the day after the sale at 10am, which has not been removed by the Auction
House, will be placed in storage at Hôtel Drouot. Access via 6bis rue Rossini - 75009
Paris. Open from Monday to Saturday from 9am to 10am and 1pm to 6pm. The
Storage facility must be paid for by the buyer. The prices on January 2020 are as
follow: Administrative fee per lot: 5€/ 10€ / 15€ / 20€ / 25€ incl. VAT. Storage fees
and insurance: 1€/ 5€ / 10€ / 15€ / 20€ incl. VAT/day, as of the 5th working day,
depending on the size of the lot.
A 50% discount on storage is granted to foreign clients. OVV Binoche et Giquello
may not be held liable for storage of the items in the Hotel on any grounds
whatsoever.
For all delivery, a minimum fee of 36 € applies.
CULTURAL ITEMS
The French State has a pre-emptive right to purchase art works or private documents
offered for sale to the public. The exercise of this right applies just after the hammer falls,
and the State representative notifies their intention to acquire the item and to substitute
itself for the highest bidder, and must confirm the acquisition within 15 days. Binoche et
Giquello will not accept liability with respect to the conditions of pre-emptive acquisition
by the French State. Export of certain cultural goods is subject to the acquisition of a
certificate of free circulation for cultural goods. Under no circumstances may the time
required to obtain the certificate be invoked to justify late payment. Under no
circumstances may Binoche et Giquello SARL and/or the Seller be held liable should the
authorities refuse to deliver the said certificate.
