Payment shall be made in full in euros. In addition to the hammer price per lot and range of price,
buyers shall be required to pay the following taxes and charges:
• 24% tax-free of the hammer price up to and including € 50 000
• 20.50% tax-free of any amount in excess of € 50 001 up to and including € 500 000
• 17% tax-free of any amount in excess of € 500 001
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.
CATALOGUE
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 OVV Binoche et Giquello may not be held liable for this.
CITES
The CITES appendices I and II transcribe in appendices A and B in the European Union which can be
more restrictive.
Important : The documents needed by the Convention for specimen belonging to Appendices A or B
species authorize their trade and transport within the EU, but doesn’t authorize their export. To export
them out of the EU, you will need to apply for an export license at the CITES service with territorial
jurisdiction.
Attention : An export license can be denied by the UE, but if it is not, that doesn’t mean an import
license will be automatically delivered by the country of destination : please inquire beforehand.
All these procedures are the client’s responsibility.
In any case, we strongly advise to keep the invoice and the auction catalogue.
BIDDING
All bidders who wish to make an offer or bid by telephone may send a request, by post, by email or fax
to O.V.V. Binoche et Giquello, along with their bank details. The telephone auctions are a free service
provided to customers who are not in a position to attend. O.V.V. Binoche et Giquello 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 the 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, OVV Binoche et Giquello 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 O.V.V. Binoche
et Giquello, 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 Ɵin 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 3 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, O.V.V. Binoche et Giquello 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 euros 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 price on 1 September 2016 is as follows: Administrative fee
per lot: €5 excl. VAT Storage fees and insurance: €1 excl. VAT/day, for the first 5 working days;
€5/€9/€16 excl. VAT/day, as of the 6th working day, depending on the size of the lot. One week of
storage is offered free of charge for clients of Drouot Transport. OVV Binoche et Giquello may not be
held liable for storage of the items in the Hotel on any grounds whatsoever. For all deliveries, a minimum
fee of 36 euros 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 O.V.V. Binoche et Giquello and/or the Seller be held liable should the authorities refuse to deliver
the said certificate.
