GENERAL TERMS AND CONDITIONS OF SALE

FOR BUYERS

SAS AGUTTES (“AGUTTES”) is a voluntary auction operator authorised to conduct public auction sales, registered with the Conseil des maisons de vente and governed by Articles L.321-4 et seq. of the French Commercial Code. In this capacity, AGUTTES acts as agent for the seller, who contracts directly with the successful bidder.

These General Terms and Conditions of Sale (“GTCS”) govern the relationship between AGUTTES and bidders in connection with public auction sales and private treaty sales organised by AGUTTES. By participating in an auction organised by AGUTTES, including via an online platform, bidders agree to be bound by these GTCS. By registering to bid and/or placing a bid at a sale, bidders acknowledge and accept these GTCS and are therefore advised to read them carefully.

The GTCS may be amended from time to time at AGUTTES’ discretion. The Specific Conditions of Sale applicable to a particular sale and set out in the auction catalogue may also be amended, in writing and/or orally, by AGUTTES prior to the sale. Any such amendments shall be recorded in the official sale report and shall be binding.

As a voluntary auction operator, AGUTTES is subject to the obligations set out in Articles L.561-2 (14°) et seq. of the French Monetary and Financial Code relating to the prevention of money laundering and the financing of terrorism, which it is required to enforce.

I – PROPERTY OFFERED FOR SALESpecific catalogue symbols

The symbols used in the catalogue have the following meanings:

1. Lots forming part of a court-ordered sale pursuant to a judicial decision, subject to buyer’s premium of 14.40% incl. VAT
2. ° Lots in which AGUTTES or one of its partners has a financial interest
3. Lots under temporary importation: subject to fees of 5.5% incl. VAT of the hammer price for works of art, antiques and collectibles (20% for wines and spirits, jewellery and multiples), payable by the buyer in addition to the buyer’s premium and hammer price. These fees may be refunded upon presentation of customs documentation proving re-export outside the European Union within the legal time limits and in accordance with the VAT reform effective as of 1 January 2025
4. ¤ Property sold under the standard VAT regime (on the full amount)

Lots available for viewing by appointment only

~ Lots made from materials derived from animal species; import restrictions may apply

= Lots duly identified and subject to a security deposit

Description of lots

Descriptions provided in the catalogue by AGUTTES and its experts are based on the information available and knowledge at the time of publication. Only the French-language descriptions are binding on AGUTTES. They may be amended or corrected in writing or orally up to the time of sale, with such amendments recorded in the sale report, which shall be conclusive evidence. Translations are provided for convenience only.

AGUTTES provides no other warranties. It is recalled that only the seller is liable for latent defects and any statutory warranty of conformity (which is excluded for second-hand goods). A certificate of authenticity will be provided only if expressly mentioned in the lot description.

Dimensions, weights and other information are given for guidance only and may be subject to reasonable margins of error. Conversions into imperial units (inches) are indicative only.

Conservation restorations that do not affect the original character of the lot, including its age and style, and that do not alter its intrinsic nature, may not be mentioned. The absence of reference to restoration, damage, loss or incident does not imply that the lot is free from defects. Conversely, the mention of a defect does not exclude the existence of others.

Only statements contained in the catalogue may serve as a basis for AGUTTES’ liability. Oral statements or assurances made by AGUTTES’ representatives that are not included in the catalogue shall not give rise to liability.

Condition of lots

Lots are sold “as is” at the time of sale, with all imperfections and defects. As second-hand goods, no guarantee as to condition is provided by AGUTTES. Prospective buyers are responsible for personally verifying the condition of the lots.

References to condition in catalogues, images, descriptions or condition reports (provided for information purposes only) are not exhaustive. Photographs and reports cannot replace personal inspection of the lot prior to bidding. Condition reports and additional photographs are available upon request and for guidance only.

Viewing

Prospective bidders are expressly invited to examine the lots and any available documentation prior to the sale, either during the public exhibition or by private appointment. Buyers are advised to seek independent expert advice.

Estimates

Estimates are based on current market knowledge, the quality, provenance and condition of the lot, and prevailing market conditions at the time of valuation. They are indicative only and do not constitute a guarantee of sale price.

Condition reports

Condition reports, additional photographs and related documents are available upon request up to 24 hours before the sale and should be consulted prior to bidding.

II – THE SALERegistration and bidding

The preferred method of bidding is attendance in the auction room. As a supplementary service, AGUTTES offers alternative bidding methods, subject to prior registration by 6:00 p.m. on the last business day preceding the sale:

1. Telephone bidding
2. Written absentee bids
3. Online bidding via live platforms, with platform fees payable exclusively by the bidder in addition to the buyer’s premium.

Identification of bidders

In compliance with anti-money laundering and counter-terrorist financing regulations, AGUTTES reserves the right to require proof of identity, company registration documents, bank references, deposits and information regarding the source of funds. All lots will be invoiced in the name of the registered bidder, with no post-sale amendments.

Failure to comply with identification requirements may result in refusal to accept bids, cancellation or termination of the sale.

Deposit

For certain sales or lots, AGUTTES may require a refundable security deposit prior to the sale. Refunds will be made within five business days following the sale, without interest, subject to set-off rights.

Bidding on behalf of a third party

Bidders acting under a mandate must disclose this and provide the relevant documentation. The bidder and principal shall be jointly and severally liable.

Conduct of the sale – Adjudication

The auctioneer conducts the sale, ensures fairness among bidders and may refuse bids or withdraw, combine or divide lots. The highest and final bidder shall be the successful bidder. The sale is concluded upon the auctioneer’s pronouncement of “Sold”, forming the contract of sale between seller and buyer.

Bids and adjudications are final and irrevocable.

Transfer of title and risk

Title and risk pass to the buyer upon adjudication. AGUTTES shall not be liable for loss or damage occurring thereafter. Buyers must insure their purchases immediately.

III – PERFORMANCE OF THE SALEBuyer’s premium

In addition to the hammer price, the buyer shall pay the applicable buyer’s premium and all taxes, VAT, handling, storage and any late payment charges.

Payment

Payment is due immediately upon adjudication, in euros. No payment extensions are granted without the seller’s express consent.

Default

In the event of non-payment, the lot may be re-offered for sale at the buyer’s risk, and the defaulting buyer shall remain liable for all losses, fees, penalties, interest and damages. AGUTTES reserves extensive rights of set-off, retention, resale, legal action and registration of the buyer on defaulting bidder databases.

Collection and storage

Lots shall not be released until full payment has been received. Storage fees apply as set out in the Specific Conditions. Lots not collected within the agreed timeframes may be resold to recover costs.

IV – RIGHT OF PRE-EMPTION

The French State may exercise a right of pre-emption over cultural property sold at public auction or private sale. The State has fifteen (15) days from the auction to confirm its intention to exercise this right.

V – EXPORT

Certain lots are subject to export formalities. Buyers are solely responsible for obtaining all necessary licences and permits. Delays or refusals by authorities shall not justify non-payment or cancellation.

VI – SPECIFIC CONDITIONS

(Detailed buyer’s premiums, storage fees, special provisions for watches, jewellery, wines, vehicles, protected species, mechanical objects, etc., as translated faithfully from the French text.)