TERMS OF SALE
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
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.
The lots 2, 7 and 10 are coming from the US or out of EU, therefore
the buyer’s premium indicated above will possibly be increased with
importation fees of 5,5% without VAT, with the current VAT.
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 relining
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 Giquello et Associés 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 Giquello et Associés SARL, along with
their bank details. The telephone auctions are a free service provided
to customers who are not in a position to attend. Giquello et Associés
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, Giquello et Associés 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 Giquello et Associés 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 Giquello
et Associés 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). Giquello et Associés 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, Giquello et Associés
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.
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. Giquello
et Associés will not accept liability with respect to the conditions of preemptive
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 Giquello et Associés SARL and/or the Seller be held liable should
the authorities refuse to deliver the said certificate.
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 Giquello et Associés. 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 1.30 pm to 6pm. The Storage facility
must be paid for by the buyer. The prices on february 2023 are as follow:
Administrative fee per lot: 5€/ 10€ / 15€ / 20€ / 25€ incl. VAT, limited to
100€ incl. VAT. Storage fees and insurance: 1€/ 5€ / 10€ / 15€ / 20€ incl.
VAT/day, as of the 3th working day, depending on the size of the lot. A 50%
discount on storage is granted to foreign clients. After one calendar year,
the lots will be stored outside the Hôtel Drouot warehouse. OVV Giquello et
Associés may not be held liable for storage of the items in the Hotel on any
grounds whatsoever.
