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The Auction House Cornette de Saint Cyr

is a voluntary sales company governed by

the law of 20 July 2011 and deontological

rules. The Auction House acts as agent for

the seller who enters into a sale contract with

the purchaser. The auction sales organised

by the Auction House Cornette de Saint Cyr

are hereby subject to the following conditions

of sale:

Goods put up for sale

Potential purchasers are invited to examine

the goods that might be of interest

to them during the exhibitions which are

organized by the Auction House Cornette

de Saint Cyr before the auctions.

Condition reports may be requested from

the Auction House by letter, telephone or

electronic mail. They will be sent free of

charge but are to be used for information

only. The reports will include the artistic

and scientific information known to the

Auction House at the date of the sale and

cannot substitute the physical examination

by the purchaser.

The descriptions in the catalogue are established

by the Auction House and where

applicable by the expert who assists the

former, subject to notices and corrections

given when the lot is presented and included

in the bill of sale. Sizes, weights

and estimates are given for information

purposes only. The colors of the works

included in the catalogue may vary due to

printing techniques.

The lack of information on the condition

of the goods in the catalogue will by no

means imply that the lot is in a perfect

state of preservation or free from restoration,

wear, cracks, relining or other imperfections.

The goods are sold in the state they are

found at the time of sale. The prior exhibition

has enabled potential purchasers to

examine the object.

According to the article L221-28 of the

French Consumer Code, the buyer cannot

use a right of withdrawal after the public

auction.

In the event of a withdrawal of an article

prior to the sale by a depositor and after

the publication of the catalogue or, in

the event of a modification to the minimum

price rendering it impossible to

put the article up for sale immediately,

the seller will be obliged to pay the purchaser

and seller fees calculated on the

basis of the median estimate stipulated

in the catalogue to the Auction House

Cornette de Saint Cyr by way of compensation.

The article which has been

withdrawn will not be returned to the seller

until the aforementioned fees are paid.

If no payment is forthcoming, the article

will be put up for sale once again in line

with the terms of the initial sale requisition.

Auction sales

The auction sales are carried out in the

order of the catalogue numbers. The bidders

are invited to make themselves known

to the Auction House Cornette de Saint

Cyr before the sale to ensure that their

personal details are recorded beforehand.

Bidders are generally present in the room.

However, the bidders can use our purchase

order forms to place a bid or our telephone

bidding form. The documents are available

at the end of the sale catalogue, on the

website www.cornette.auction.fr., or on

request. The form should be sent to the

Auction House Cornette de Saint Cyr together

with an ID card or passport, a bank

identification slip [RIB in France] or bank

details at least two days before the sale.

The Auction House Cornette de Saint Cyr

will handle auction sales by telephone and

absentee bids free of charge. The Auction

House Cornette de Saint Cyr cannot be

held responsible for a problem with the

telephone link along with an error or omission

in the execution of the absentee bids

received.

It is also possible to bid though our three

partners online auction sites Drouot Live,

Interenchères and Invaluable.

The auction house cannot be held liable

during the auction in the event of a technical

problem on a platform.

ln the event of two identical absentee bids,

preference will be given to the earliest

absentee bid. The successful bidder will be

deemed to be the individual who has made

the highest bid. In the

event of a double bid which is confirmed as

such by the auctioneer, the lot will be put up

for sale again and any or all persons present

will have the right to take part in the second

sale by auction. French State has a preemption

right for sold cultural goods.

French State could substitute the final

bidder within 15 days after the auction.

Payment

Payment must be paid immediately after the

sale in euros by the bidder. In the event that

the successful bidder has not given their

personal information before the sale, they

will be required to provide proof of identity

and bank details.

ln addition to the hammer price, purchasers

will be required to pay the folIowing

costs and taxes per lot and per block:

- from 1 to 150 000 €: 25% before tax

(30% inclusive of tax except for books

26.37% inclusive of tax)

- from 150 001 € to 1 200 000 €: 20%

before tax (24% inclusive of tax except

for books 21.10% inclusive of tax)

- above 1 200 001 €: 12% before tax

(14.40% inclusive of tax except for books

12.66% inclusive of tax)

For lots from countries outside the European

Union, import tax will be added as

follows:

For lots with numbers preceded by the sign:

* additional tax of 5.5% of the hammer price.

For lots with numbers preceded by the sign:

** additional tax of 20% of the hammer

price.

In addition, the buyers who purchased

their items through a platform online will

pay:

- 1.5 % before tax (1.8% inclusive of tax)

of the hammer price if they used Drouot

Live (Digital) services

- 3% before tax (3.6% inclusive of tax)

of the hammer price if they used Interencheres

- 5 % of the hammer price for Invaluable

services. The successful bidder may pay

using one of the following methods:

- in cash within the limits of the legislation

in force.

- by bank transfer.

- by cheque, with the presentation of identity

papers being compulsory.

Cheques drawn on a foreign bank will only

be accepted provided prior consent is obtained

from the Auction House Cornette

de Saint Cyr. Purchasers are advised to

provide a letter of credit from their bank for

an amount which is close to their intended

purchase figure.

- by bank card except American Express.

The resale right if is due, is at the seller’s

charge according to the articles R122-6

and L122-8 of the French intellectual

property Code.

Failure to pay

ln the event of failure to pay the hammer

price and fees, formal notice will be sent

to the purchaser by registered letter with

acknowledgement of receipt. In the event of

failure to pay at the end of the deadline of

one month after the sending of the formal

notice, the purchaser will be required to pay

delay penalties of 1% per month of the hammer

price as well as the collection costs.

In case of an intervention of our attorney

at law to collect the outstanding amount,

the costs will be in charge of the purchaser

with a minimum of 500 euros. Each month

started counting as a full month.

This clause being applied will not hinder

the awarding of damages and costs for the

legal proceedings which will be required,

and does not exclude the article being

put up for sale again in a new auction

which is governed by article L 321 -14 of

the Commercial Code.

Within the framework of this new auction,

the Auction House hereby has

the right to claim the payment of the

difference between the initial hammer

price and the subsequent hammer

price obtained from this reiteration of

auction, if this last is lower, together

with the costs incurred due to the second

Auction sale from the defaulting successful

bidder.

The Auction House Cornette de Saint Cyr

hereby reserves the right to offset against

the amounts owed to the defaulting successful

bidder. Furthermore, the Auction

House Cornette de Saint Cyr hereby

reserves the right to exclude any or all

successful bidder who has not complied

with these conditions of sale from its future

auction sales.

The Auction House Cornette de Saint Cyr

is member of the Central Registry for auctioneers

for the prevention of outstanding

invoices of the auctioneers where a default

in payment can be inscribed.

The debtor can access, modify or make

an opposition for a legitimate reason

before the SYMEV at the following address:

15 rue Freycinet 75016 Paris.

All auction sales invoices remaining unpaid

or subject to delays in payment may be

added to the Auction Access restriction

file ‘TEMIS File’ maintained by Commissaires-

Priseurs Multimédia (CPM). Bidders

listed on the TEMIS File may face restrictions

on their bidding activity at auctions

and also be temporary suspended of

access to the www.interencheres.com

live service.

Bidders listed on the TEMIS File can

contest it or exercise their rights of access,

rectification and objection under applicable

data protection legislation by

submitting in writing by post to CPM,

37 rue de Châteaudun 75009 Paris or

by email to contact@temis.auction. The bidder

may also submit a complaint to the

CNIL, 3 Place de Fontenoy TSA 80,715

75334 Paris Cedex 07.

Important notifications relating to the

auction process will be sent to the mail and

postal address that the bidder provided

the auctioneer at the time of the auction.

The bidder must notify the auction house

of any changes to their contact details.

Collection of purchases

No lot will be handed over to the purchasers

before all of the amounts owed are

settled.

ln the event of payment with a non-certified

cheque or by bank transfer, delivery

of the articles may be differed until receipt

of the amounts owed. As soon as the auction

sale is concluded, the articles will be

placed under the purchaser’s full responsibility.

With regard to the collection of lots which

have not been taken on the date of the

sale, you are advised to contact the

Auction House Cornette de Saint Cyr prior

to collection on +33 (0)1 47 27 11 24.

An appointment can be made to collect

small paintings and objects of art

at 6 avenue Hoche, 75008 Paris, from

Monday to Friday from 9:00 a.m. to

1:00 p.m. and from 2:00 p.m. to 6:00 p.m.

(5:00 p.m. on Fridays). Fifteen days of free

storage is offered. Thereafter, the storage

will be invoiced at 36 euros inclusive of tax

per month and per lot (or 9 euros inclusive

of tax per week and per lot). If the article is

collected after the beginning of the week

payment for a full week will be requested.

Furniture and in general terms any bulky

articles are stored at our partner’s warehouse.

Storage costs are to be paid

by the purchaser and will be invoiced

directly by our partners to the purchaser

with the tariffs in force as following: free

of charge the first two weeks of storage;

from the 15th day, a fee of €24 inclusive

of tax per two-week period (the first two

weeks after the auction will also be invoiced

from the 15th day, as well as the

following two weeks). In addition to these

storage fees, a handling charge of €54

inclusive of tax is to be included (not invoiced

the first two weeks). Hence, from

the 15th day after the auction, the total

storage and handling fees for the month

will be of €102 per item.

The Auction House will not be responsible

for the storage of articles.

Transport of the lots is to be carried out at

the successful bidder’s expense and under

their full responsibility.

Items subject to specific legislation

Sales of arms: Except as permitted by law,

only licence holders are able to bid.

The sale of some items is governed by the

Washington Convention of the 3rd March

1973 relative to the protection of specimens

and species threatened by extinction

(CITES). The buyers have to check

the legislation applicable in their country

before bidding.

Export

Tax refund

The VAT will be refunded to the buyers who

are non-European Union residents upon

presentation to our accountant of the export

declaration (SAD) of the good(s) purchased

duly endorsed by the competent

customs authority, within 3 months after

the sale. The export declaration must mention

the auction house Cornette de Saint

Cyr as the consignor and the buyer as the

consignee of the good(s).

The export of the works of art considered

as ‘cultural goods’ must be authorized by

the Ministry for the Arts (see article L 111-2

of the Patrimony Code).

The export to a country within the European

Union requires a certificate of export

issued by the Ministry of the Arts with a

delay up to 4 months.

This certificate could be asked by the Auction

House on behalf of the buyer after the

sale.

The export to a country outside the European

Union requires a certificate of export

as well as an export licence and a customs

declaration.

In this case, the buyer has to pass through

a transit company in order to ask for these

export authorizations.

The Ministry of the Arts issues or refuses

the certificate of export within a maximum

delay of 4 months and the licence export

need two further weeks to be obtained.

The documents required must be presented

to the customs officers.

The law punishes to penalties the person

who exports or tries to export a cultural

good without the authorizations required

(see article L 114-1 of the Patrimony Code).

The works of art are considered as cultural

goods according to their age (generally

from 50 years) and their value

(price with taxes included) which varies

by categories (€150,000 or more for

paintings, €15,000 or more for prints…).

These thresholds are set by the decree

n° 93-124 of the 29th January 1993

and by the European Regulation of the

18th December 2008 (n° 116/2009).

The buyer cannot make the export certificate

as a condition of his payment.

The Auction House is not responsible for

the delay or the refusal of the export certificate

from the Ministry for the Arts.

Governing law and jurisdiction

These conditions of sale are governed by

French law. Any or all disputes relating to

the wording, validity and performance that

is not settled amicably with the auction

house or through the Sale Council will be

settled by the court or competent jurisdiction

in Paris.

According to the law, all liability actions

against the auction house or the expert of

the sale are limited to five years from the

auction.

Compliance with the General Data

Protection Regulation (GDPR)

For its activities, our auction house collects

personal data regarding sellers and

buyers. Consequently, sellers and buyers

have right to access, rectification and opposition

on their personal data contacting

directly the auction house. Our society

guarantees the confidentiality of the data

received. The auction house could use the

data in order to satisfy its legal obligations

or, with the client agreement, for its activity

(sale advertising). The data could be forwarded

to the competent authorities when

it is required by the law and regulation.

Hammer prices can be found on the internet

site www.cornette-saintcyr.com or upon

request at the following telephone number

+33 (0) 1 47 27 11 24.