Sales are governed by Articles L312-4 of the French Code of
Commerce. SVV Thierry de Maigret, as Sales Operator, shall
serve as the Seller’s agent, and all relations with bidding parties
shall take place as described in the present Terms of Sale.
Goods put up for auction: The details found in the Catalogue
are legally binding upon the Auction House and Experts assisting
it, taking into account any and all corrections announced
upon submission of the object and subsequently listed in the
Record of Sale. Lining, parquet work and sheathing shall be
considered a preventive measure, and not a defect; size, weight
and estimated value shall be determined for guidance purposes
only. Prior exhibition of the item enables potential buyers to
form their own judgment of the condition of the objects put up
for sale. Consequently, no claims shall be considered once a lot
has been sold. The SVV remains at the buyers’ disposal for any
information required and invites all interested parties to seek
information about the lots.
Bidding: The Buyer is defined as the highest and fi nal bidder,
and will be required to provide name, address, proof of identity
and bank details. All buyers are assumed to be bidding on their
own behalf and shall hold sole responsibility for their bidding.
Should a buyer bid on behalf of a third-party, the buyer shall
provide the identity of the latter beforehand, so that the invoice
can be correctly drawn up. No changes will be accepted after
the sale. Should the auctioneer declare double bidding to have
occurred, the lot shall be immediately put up for repeat sale, and
all interested parties will be invited to take part in the bidding.
The auctioneer and experts reserve the right, in the interest of
the sale, to combine, split or remove any lot from the sale.
Purchase Orders: The Auction House may fulfil free of charge
any purchase order submitted in writing, by Internet or by
telephone. Buyers wishing to proceed in this manner may send
in their request in writing, 24 hours prior to the date of sale, by
completing the form provided along with a check or bank details.
SVV Thierry de MAIGRET will act on behalf of the bidding
party, in accordance with the instructions given in the form, in
an effort to purchase the relevant lot at the lowest possible price,
not exceeding the stated maximum figure. Should an equivalent
bid be submitted in the room on the day of auction, the bidding
party present shall be given priority.
Telephone bidding shall be accepted where the lowest estimated
price of the lot is greater than €300. It is recommended that
telephone bidders provide a back-up purchase order which we
will be able to execute on your behalf, should we be unable to
reach you. The Auction House may not be held responsible for
having failed to execute a purchase order due to error, omission
or dysfunction in telephone/Internet/Drouot Live services, or
for any other reason.
Payment of Agreed Price: Payment shall be made in Euros,
immediately after the sale. The successful bidder shall,
furthermore, pay sales taxes and fees in addition to the hammer
price, amounting to 28.8% inclusive of tax (24% before tax +
20% VAT) and 25.32% inclusive of tax on books (24% before
tax + 5.5% VAT). No lots shall be delivered to successful bidders
until the amounts due are paid in full.
Methods of payment:
- by check, along with valid personal ID, whereby due settlement
and transfer property will be subject to actual collection of the
non-certified check. C hecks drawn on foreign banks shall be
subject to prior approval by the Auction House. Bidders are
advised to secure, prior to sale, a letter of credit from their bank
in an amount close to their intended highest bid and to provide
it to the Auction House.
- in cash, not to exceed, taxes and fees included, €1,000 where
the bidder is a private individual or professional entity residing in
France, and €15,000 where the bidder is a private individual residing
abroad, subject to proof of identity, proof of origin of funds, and
statement of declaration of the relevant amount to the Customs
Authorities, further to Decreedated 16 June 2010.
- by bank transfer (list order number)
- by Visa or MasterCard
VAT: Buyers not residing in the European Union may seek
reimbursement of the VAT included in the margin by sending
the export customs document (copy 3) to SVV, duly stamped
by the Customs Authorities, within two months following the
sale. No tax-exclusive sales document will be drawn up without
official proof of export, as the intra-Community VAT number
does not constitute adequate proof.
Default of Payment: Payment by over-drafted checks or failure
to pay shall not incur the responsibility of the Auction House
and, consequently, releases it from the obligation to pay the
Seller. In the event of failure to pay within one month of being
served official notice by certified letter with proof of receipt at
the addressee’s expense, and in the event of failure to pay the
amount due, the Buyer shall be charged an additional fee of 10%
of the final bidding price to cover collection fees, amounting to
no less than €300.
Enforcement of this clause shall neither: preclude the allocation
of damages or compensation; come at the expense of required
proceedings; nor pre-determine possible implementation of the
“irresponsible bidding” proceedings.
Irresponsible bidding: in the event of default of payment on
the part of the successful bidder, the item shall be put up for
sale at the request of the Seller, on the grounds of irresponsible
bidding on the part of the defaulting bidder. Should the Seller
fail to make a request to this effect within one month of the sale’s
closing, the said sale shall be cancelled by right of law, without
prejudice to damages. Interest payable by the defaulting bidder.
Collection of property: No lot may be collected until the
related invoice has been paid in full. In the event of payment
of non-certified check, collection of property may be delayed
until actual collection. Bulky items sold and not collected from
Drouot premises by 10 AM on the day following sale will be
placed in the Hôtel Drouot warehouse and remain entirely the
responsibility of the successful bidder. Storage fees payable by
the latter shall be paid to the Hôtel Drouot warehouse before
release of the lots and upon presentation of proof of payment.
Small objects may be kept at the offices for 15 days following
sale. Beyond this point, €3 will be charged per day and per item
for storage.
Shipment of Lots: SVV may, as a service, arrange for lots to
be shipped to its customers, but denies all responsibility for lot
transport. Lots will be shipped only upon express written request
on the part of the successful bidder, following the sale, along with
a liability release letter, and shall be at the Buyer’s expense.
Export of Lots: Export of lots may be subject to approval, subject
to the Buyer’s responsibility. Neither the approval, denial of
approval or approval application time may be invoked as grounds
for change in payment deadline or cancellation of sale.
Pre-Emptive Rights: The French Government holds preemptive
rights on the works sold, by declaration immediately
upon the conclusion of sale, to the auctioneer. It may confirm
exercise of this right within a period of 15 days following the
sale, in which case it replaces the highest bidd
