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TERMS AND CONDITIONS OF SALE
Payment shall be made in full in euros. In addition to the auctioned price per lot, buyers shall be required to pay the following taxes and charges: 27% VAT incl. 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. 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 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 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 li
