GREAT WINES & SPIRITS

WINES AND SPIRITS 2024

SAS AGUTTES ("AGUTTES") is an operator of voluntary public auctions, declared with the Conseil des Ventes Volontaires and governed by Articles L.321-4 et seq. of the French Commercial Code. As such, AGUTTES acts as an agent of the seller who enters into a contract with the successful bidder.

These General Terms and Conditions of Sale ("GTC") govern the relationship between AGUTTES and bidders for public auctions and private sales organized by AGUTTES.

The GTC may be modified in writing or verbally by AGUTTES prior to the sale of the lot; these modifications will be recorded in the sale minutes.

I. THE ITEM UP FOR SALE

Description of Lots: The details provided in the catalog are the responsibility of AGUTTES and its expert, subject to the provisions mentioned below. Only the information in French is binding on AGUTTES; translations are free and non-binding. Changes or corrections may be made up to the moment of the sale, either in writing or orally. These modifications will be recorded in the sale minutes, which shall have probative value.

No other warranties are provided by AGUTTES; it is recalled that only the seller is bound by the warranty against hidden defects and the legal warranty of conformity. A certificate of authenticity will only be available if mentioned in the lot description.

Dimensions, weights, and other information about the lots are provided as a guide with a reasonable margin of error.

Conservation restorations that do not alter the age and style characteristics of the lot and do not modify its inherent character will not be mentioned in the description.

The absence of mention of a restoration, accident, or incident in the catalog or reports does not imply that the lot is free of any defect, present, past, or repaired. Conversely, the mention of any defect does not imply the absence of other defects.

Special mentions in the catalog have the following meanings:

• Lots that are part of a judicial sale following a court order: buyer’s premium: 14.40% incl. tax;

° Lots in which AGUTTES or one of its partners has financial interests;

• Lots under temporary import: subject to fees of 20% for wines and spirits, jewelry, and multiples (or 5.5% for books), payable by the buyer in addition to the sales fee and hammer price, except for buyers outside the EU;

¤ Goods sold under the general VAT regime (on the total price);

~ Lots made from materials from animal species. Import restrictions may apply.

Condition of Lots: Lots are sold as is at the time of sale, with their imperfections and defects. As second-hand goods, no warranty can be given on their condition.

References to the condition of a lot in a catalog or condition report cannot be considered an exhaustive description of the lot’s condition and can in no way replace the personal inspection of the lot as indicated below. Condition reports will be sent on request and for informational purposes only.

Old bottles may naturally become fragile over time and during transportation. AGUTTES cannot be held responsible for the condition of the cork.

Viewing of Lots: Potential bidders are invited to personally inspect the lots during a private appointment prior to the sale to verify their condition. Buyers are advised to bring an expert from the relevant field to the sale.

Reproduction of Lots: All defects and imperfections of the lots are not visible in the photographs reproduced in catalogs, online, or in any communication medium. Photographs may not accurately reflect the actual condition of a lot and may differ from what a direct observer perceives (size, color, etc.).

Estimates: Estimates are based on the technical knowledge available at the time of estimation, the quality of the lot, its provenance, its condition, and the market at the time of estimation. They are provided purely as a guide and cannot be considered a guarantee that the lot will be sold at the estimated price.

II. THE SALE

Registration for the Sale:

Important: The normal and priority mode of bidding is to be present in the auction room. As a service, other modes are available, requiring prior registration:

• By telephone: AGUTTES will graciously accept telephone bids only for bidders who have come forward before 6 p.m. on the last working day before the sale. The potential bidder must have received a prior confirmation email from AGUTTES to be called.

• Absentee bids: Any person who has previously registered and wishes to bid may request the recording of absentee bids with AGUTTES on their behalf. The bid must be submitted in writing before 6 p.m. on the last working day before the sale, and the bidder must have received a confirmation email from AGUTTES to be called. No unlimited bids will be accepted. If AGUTTES receives several identical absentee bids, the earliest bid will be preferred.

• Online via Live platforms: Online bidding is available on technical platforms allowing participation remotely by electronic means in auctions, subject to prior registration. Buyers via Live platforms are informed that the fees charged by these platforms will be at their sole expense.

Bidding by telephone, internet, or absentee bid is at the bidder’s own risk, and AGUTTES cannot be held responsible if the bidder is unable to participate in the auction for any reason, including malfunction or failure of execution (lack of response from the bidder, error, interruption, or omission in the receipt of bids). In the event of a malfunction or interruption of the telephone or live service, the auction may continue under the direction of AGUTTES.

Bidder Identification Procedure: AGUTTES reserves the right to request any potential bidder to prove their identity and, for a legal entity, a Kbis extract less than three months old, noting that only the legal representative of the company or any duly authorized person may bid and provide banking references. In case of failure to comply with identification procedures, AGUTTES reserves the right to refuse registration for the auction. All lots sold will be invoiced in the name and address on the registration form. No subsequent modifications can be made. The bidder is deemed to be acting on their own behalf and will be solely responsible for the bid unless prior notification of their capacity as an agent is given under the conditions indicated below. Any false information will engage the responsibility of the successful bidder.

Bidding by Proxy: Bidders with a proxy must inform AGUTTES during the identification and registration process and provide a copy of the proxy and any other documents requested by AGUTTES. In such cases, the bidder and the principal will be jointly liable.

Sale Management: AGUTTES will manage the sale at its discretion, ensuring the freedom of bidders and equality among all bidders, while respecting established industry practices. The sale will be conducted by designation of the lots.

Awarding of Bids: The highest and last bidder will be the successful bidder, using any means accepted (order, internet, telephone, on-site, etc.). The awarding of the bid is marked by the word "Adjudged," which forms the sales contract between the seller and the successful bidder.

Each lot is identified with a number corresponding to the number assigned to it in the sale catalog.

It is forbidden for sellers to bid directly on their own lots.

In the event of a simultaneous "double bid" recognized as effective by the auctioneer, the lot will be re-offered for sale, with all present bidders eligible to participate in the second awarding.

Withdrawal: Each bid awarded and bid placed is final and binding on the person who placed it, whether in the room, on the phone, online, or on an absentee bid.

Transfer of Risks and Ownership: The transfer of ownership and risks between the seller and the successful bidder occurs when AGUTTES pronounces the word "adjudged." AGUTTES declines all responsibility for losses and damages that the lots may suffer from the time of the adjudication; the successful bidder must insure the acquired lots immediately upon adjudication.

III. EXECUTION OF THE SALE

Buyer’s Premium: The successful bidder must pay, in addition to the hammer price, buyer's fees of 25% incl. tax per lot.

In addition to the hammer price and the buyer's fees, the successful bidder must pay all taxes, including VAT, and any handling and storage fees.

The payment of the amounts due must be made "cash" by the successful bidder, immediately upon adjudication. Payment is made in euros, excluding any applicable bank charges.

VAT: The VAT rate is 20% (or 5.5% for books). By default, lots not marked will be sold under the margin VAT regime. The buyer's fee and general fees will be increased by an amount in lieu of VAT, which will not be separately mentioned on our invoices.

Exceptionally, and at the seller’s request, the general VAT regime may be applied to goods sold by a professional from the EU, marked with the symbol ¤.

Possible VAT Refunds:

1. The EU professional who (i) has an intra-Community VAT number and (ii) provides proof of export of the lots from France to another member state;

2. Non-EU residents upon provision of (i) a customs export document listing AGUTTES as the sender (ii) when export occurs within two months of the auction date or the date of obtaining the export passport.

Payment Methods: Legal payment methods accepted by AGUTTES (payments by credit card or bank transfer are strongly recommended):

• Credit Card: Bank fees, usually between 1 and 2%, are not charged by the auction house;

• American Express Card: A 2.95% incl. tax commission will be charged for all payments. Payments by card at a distance and split payments for a single lot with the same card are not allowed;

• Online Payment up to €10,000: at https://https://aguttes.com/paiement/index.jsp;

• Bank Transfer: From the buyer’s account, indicating the invoice number:

IBAN FR76 3006 6109 1300 0203 7410 222

BIC CMCIFRPP

Account holder: AGUTTES

Direct debit CIC PARIS ETOILE ENTREPRISES

178 RUE DE COURCELLES - 75017 PARIS

• Cash: Articles L.112-6 and D.112-3 of the French Monetary and Financial Code: (i) Up to €1,000 for French tax residents or persons acting in a professional capacity; (ii) Up to €15,000 for individuals with a tax residence abroad (with passport and proof of residence);

• Cheque (last resort): Upon presentation of two pieces of identification. No clearing delay is accepted for cheque payments. Delivery will only be possible twenty days after payment. Foreign cheques are not accepted.

Defaulting Successful Bidder: In the event of non-payment by the buyer, the item may be resold by auction at the request of the seller in accordance with the procedure of Article L.321-14 of the French Commercial Code. If the seller does not make this request within three months of the adjudication, the sale will be automatically canceled.

In all cases, the defaulting buyer will be required to pay AGUTTES:

• All costs and expenses incurred by AGUTTES for the collection of unpaid invoices (including attorney’s fees);

• Late penalties calculated by applying an interest rate five points above the legal rate on the total amounts due;

• Damages to compensate for the prejudice suffered by AGUTTES (fees, commissions, VAT, storage, etc.).

AGUTTES reserves the right to:

• Provide the name and contact details of the defaulting buyer to the seller to enable them to exercise their rights.

• Exercise or have exercised all rights and remedies, including the right of retention, on any property of the defaulting buyer that AGUTTES holds;

• Prohibit the defaulting bidder from bidding in future AGUTTES sales or make bidding conditional on a prior deposit.

Collection and Storage of Lots: A lot awarded cannot be delivered to the buyer until the full invoice amount has been paid and credited to AGUTTES’ bank account. Lots will be delivered to the buyer in person upon presentation of proof of identity or to a third party designated by the buyer with an original power of attorney and a copy of their ID. Collection of lots is done at the buyer’s sole expense and risk.

Once paid, lots will be available from October 9, at iCave's premises. After receipt of payment by AGUTTES, our accounting department will send you the paid invoice, and iCave will prepare your purchases. You will receive an email notification from iCave informing you that your lots are ready. You will then need to present yourself during opening hours at the address below:

Collection Address:

iCave des Montquartiers - 5 Chemin des Montquartiers 92130 ISSY-LES-MOULINEAUX - FRANCE.

Opening hours: Monday to Thursday 9 a.m. to 1 p.m. and 2 p.m. to 6 p.m. Friday 9 a.m. to 1 p.m. and 2 p.m. to 5 p.m.

Storage fees will apply for lots sold at auction or by private sale that are not collected by the buyer within one month of October 1st: €1 per case per calendar day, in addition to any fees applied by iCave.

Resale of Paid and Uncollected Lots: For lots sold and paid for at auction but not collected by buyers for more than a year, AGUTTES reserves the right to resell them. Storage, custody, conservation, and any other expenses incurred by AGUTTES for the sale will be deducted from the proceeds of the sale, benefiting AGUTTES. The balance will be held in a designated bank account.

IV. RIGHT OF PREEMPTION

The French State may exercise a right of preemption on any public or private sale of cultural property. The State has a period of 15 days from the public sale to confirm the exercise of its right of preemption and substitute itself for the buyer.

V. EXPORT

The export formalities (requests for a cultural property certificate, export license) of subject lots are the responsibility of the buyer and may require up to four months. AGUTTES is available to assist buyers in these steps.

AGUTTES cannot be held responsible for delays and will not be liable for any refusal or delay in the administrative decision. The refusal of a certificate cannot justify non-payment or delay in payment by the buyer or cancellation of the sale.

VI. APPLICABLE LAW AND COMPETENT COURT

Civil liability actions related to valuations and voluntary and judicial public auctions of movable property are time-barred five years from the adjudication or valuation.

Only French law governs the GTC. Any dispute relating to their existence, validity, execution, and enforceability against any bidder with the status of a trader shall be settled by the Commercial Court of Nanterre (France).

If the bidder or buyer is not a trader, the dispute will be settled by the competent court according to legal provisions.

The Government Commissioner with the Conseil des Ventes Volontaires de Meubles aux Enchères Publiques may be contacted in writing for any difficulty to seek an amicable solution if necessary.

VII. PERSONAL DATA

Bidders are informed that AGUTTES may collect and process data concerning them in accordance with the General Data Protection Regulation No. 2016/679 of April 27, 2016 (GDPR) and the "Informatique et Libertés" law No. 78-17 of January 6, 1978, as amended by law No. 2018-493 of June 20, 2018, on the protection of personal data.

Data is collected for managing contractual or pre-contractual relationships (registration for the sale, invoicing, accounting, payments, communication...). This data includes information such as: names, surnames, postal address, email address, phone number, and bank details.

Bidders are informed that they have the right to access, rectify, erase, port, object to, and restrict their data held by AGUTTES. Requests should be submitted in writing to: communication@aguttes.com. Any complaint regarding applicable data protection legislation may be addressed to the CNIL: https://cnil.fr.

VIII. INTELLECTUAL PROPERTY

AGUTTES owns all reproduction rights to its catalog. Any reproduction is prohibited and constitutes counterfeiting. The sale of a lot does not imply any transfer of intellectual property rights (representation and/or reproduction) applicable to the work.

IX. SPECIAL CONDITIONS

1. Mechanical and Electrical Objects

Mechanical or electrical objects offered for sale by AGUTTES are proposed solely as decorative items. As second-hand goods, AGUTTES does not certify their working condition. Buyers are recommended to attend public viewing with an expert and have the electrical or mechanical mechanism checked by a professional before use.

2. Protected Plant and Animal Species

Objects partly or wholly made from materials from endangered and/or protected flora and fauna species are marked with the symbol ~ in the catalog. Strict rules apply to the commercial use of these materials, particularly regarding the trade of ivory.

Buyers are informed that the importation of any goods composed of these materials is prohibited by many countries or requires a permit or certificate issued by the competent authorities of the countries of export and import. Buyers are fully responsible for complying with the regulatory and legal standards applicable to the export or import of goods made wholly or partly from endangered and/or protected species materials. AGUTTES will not be liable for the inability to export or import such goods, and this cannot be used to justify a request for resolution or cancellation of the sale.