GENERAL CONDITIONS OF SALE BY PUBLIC AUCTION
Daniel Maghen Enchères et Expertises is a company whose business is the public auction of chattels governed by articles L 321-4 et seq of the French Commercial Code and by the French laws of 10th July 2000 and 20th July 2011, and consequently subject only to French Law. Daniel Maghen Enchères et Expertises is the representative of the seller, who is deemed to have entered into a contract with the purchaser. The relationship between Daniel Maghen Enchères et Expertises and the purchaser for the auctions organised by the auction house is subject to the following conditions:
b) For good order, potential purchasers are asked to make themselves known to Daniel Maghen Enchères et Expertises prior to the auction, so that their personal data may be registered. Daniel Maghen Enchères et Expertises reserves the right to request each potential purchaser to provide proof of identity, banker’s references, and to pay a deposit. Daniel Maghen Enchères et Expertises will manage the auction in a discretionary manner, ensuring freedom of Bidding and equality between bidders while respecting established practice, and reserves the right to refuse any Bid or to deny access to the auction room to any potential purchaser for just cause.
c) The usual method of bidding consists in being present in the auction room. However, bidders who wish to make absentee bids in writing or by telephone should make themselves known before the auction. Daniel Maghen Enchères et Expertises does not charge for bids in writing or by telephone. In any event, Daniel Maghen Enchères et Expertises cannot be held liable for any telephone connection problems or for any errors or omissions in the execution of orders so received. If two identical absentee bids are made, the oldest will take precedence. If a bid is made in the auction room for an amount equal to an absentee bid, the bidder who is present in the room will take priority. If the auctioneer declares a double-bidding to have occurred the lot will be re-offered for sale and all persons present may respond to the second invitation to bid.
d) The winning bidder shall be the person who has made the highest bid, subject to it being equal to or higher than the reserve price. The fall of the hammer marks the end of bidding and the pronouncement of the word "adjugé" ("sold") or its equivalent shall lead to the creation of a sales contract between the seller and the last recognised bidder. Bidders are deemed to act in their own name and on their own behalf, subject to any contrary agreement made with Daniel Maghen Enchères et Expertises prior to the auction.
e) Lots preceded by the sign
are the property, directly or indirectly, of Daniel Maghen Enchères et Expertises, its directors, employees or experts.
3. FEES
Sales are made for cash, in euros and in French. Settlement must be made by the winning bidder immediately after the sale. If the winning bidder has not provided their personal data prior to the sale, they must provide proof of identity and banker's references.
a) Auctioneer's commission: In addition to the auction price, the purchaser agrees to pay a commission of 23% excluding VAT to Daniel Maghen Enchères et Expertises, + VAT at the current rate (i.e. 27.6 % including tax). Additional fees and special taxes may be due for some lots, over and above the usual fees and taxes. The lots concerned are identified by a special symbol placed in front of the number of the object in the sales catalogue or by an announcement made by the accredited auctioneer during the auction.
b) Lots from outside the EU: VAT of 5.5% on imports should be added to the auction price for lots from non-EU countries, indicated by the sign
, in addition to the taxes and commissions set out above.
c) VAT: VAT on commissions and import duties may be refunded to the winning bidder on presentation of proofs of export of the lot outside the EU. A winning bidder from the EU holding an intra-Community VAT number and a document proving delivery in their member state may obtain the refund of the VAT on the commission.
d) Droit de suite (Artists’ Resale Right): In application of article L.122-8 of the French intellectual property code, authors of graphic and plastic works have, notwithstanding any transfer of the original work, the inalienable right to a share in the proceeds of any sale of this work at public auction. After the death of the author, this droit de suite continues to benefit their heirs during the calendar year of the decease and for the following 70 years. The purchaser shall bear the payment of the droit de suite at the rate applying on the day of the sale. Lots affected by this are indicated by the symbol
. If droit de suite applies to a lot you have acquired, you will be liable for the corresponding sum in addition to the auction price.
The amount owing under droit de suite is determined by a decreasing scale according to the auction price as follows:
– 4 % for the portion of the price up to €50,000
– 3 % for the portion of the price between €50,000.01 and €200,000
– 1 % for the portion of the price between €200,000.01 and €350,000
– 0.5 % for the portion of the price between €350,000.01 and €500,000
– 0.25 % for the portion of the price above €500,000.01
The amount of the droit de suite cannot exceed €12,500
The winning bidder may settle by any of the following methods:
- In cash: up to €1000 including fees and taxes for private persons residing in France and professionals; up to €15000 including fees and taxes for private persons residing outside France, on presentation of proof of identity, proof of residence and proof of the source of the funds.
- By bank transfer
- By banker's card (VISA or MASTERCARD)
- By a certified bank cheque drawn on a French bank payable to Daniel Maghen Enchères et Expertises, on presentation of proof of identity
Purchasers are responsible for insuring their acquisitions; Daniel Maghen Enchères et Expertises declines any liability for damage that the object may suffer after the fall of the hammer. All formalities and transportation are the exclusive responsibility of the purchaser.
The personal data demanded of the potential purchaser within the framework of these conditions of sale at public auction are essential for the latter’s correct operation.
They will be stored for the time required to this end; however, and in compliance with the French law “INFORMATIQUE ET LIBERTE” of 6th January 1978, potential purchasers have the right to access their personal data, and if necessary modify, rectify or object to them by writing to the following address: Société Daniel Maghen Enchères et Expertises 36, rue du Louvre 75001 Paris.
Applicable law and jurisdiction: these general conditions of sale at public auctions are subject to French law.
Any difficulty with regard to their interpretation or their execution shall be submitted to the Paris Law Courts. Goods subject to specific legislation: It is the responsibility of every bidder to verify his country's legislation with regard to any object prior to its acquisition, since Daniel Maghen Enchères et Expertises cannot be held liable for any such provision.
1. THE LOTS PUT UP FOR SALE
Potential purchasers are invited to examine the lots which may be of interest to them prior to the auction sales, and specifically during the exhibitions organised before the auctions. Daniel Maghen Enchères et Expertises makes reports on the conditions of lots available to potential purchasers. These reports are based upon artistic and scientific knowledge available at the time of the sale, and Daniel Maghen Enchères cannot be held liable for any errors or omissions. The references shown in the catalogue are prepared by Daniel Maghen Enchères and the expert who assists them as necessary, subject to any notifications and rectifications made when the lot is presented and included in the official sales record. Sizes, weights and estimates are for information only. The colours of the works illustrated in the catalogue may differ due to the printing process. The absence of a statement of condition in the catalogue is not intended to imply that the lot is in a perfect condition or exempt from restoration, wear, craquelures, relining or any other imperfections. Lots are auctioned in their condition at the time of sale. Estimates are provided for information only and may not be considered to imply any certainty that the item will be sold at the estimated price, or even at a price close to that. No claims will be accepted after the fall of the hammer, since the pre-auction exhibition allows the object to be examined.2. AUCTION PROCEDURE
a) Auctions will follow the order of the numbers shown in the catalogue.b) For good order, potential purchasers are asked to make themselves known to Daniel Maghen Enchères et Expertises prior to the auction, so that their personal data may be registered. Daniel Maghen Enchères et Expertises reserves the right to request each potential purchaser to provide proof of identity, banker’s references, and to pay a deposit. Daniel Maghen Enchères et Expertises will manage the auction in a discretionary manner, ensuring freedom of Bidding and equality between bidders while respecting established practice, and reserves the right to refuse any Bid or to deny access to the auction room to any potential purchaser for just cause.
c) The usual method of bidding consists in being present in the auction room. However, bidders who wish to make absentee bids in writing or by telephone should make themselves known before the auction. Daniel Maghen Enchères et Expertises does not charge for bids in writing or by telephone. In any event, Daniel Maghen Enchères et Expertises cannot be held liable for any telephone connection problems or for any errors or omissions in the execution of orders so received. If two identical absentee bids are made, the oldest will take precedence. If a bid is made in the auction room for an amount equal to an absentee bid, the bidder who is present in the room will take priority. If the auctioneer declares a double-bidding to have occurred the lot will be re-offered for sale and all persons present may respond to the second invitation to bid.
d) The winning bidder shall be the person who has made the highest bid, subject to it being equal to or higher than the reserve price. The fall of the hammer marks the end of bidding and the pronouncement of the word "adjugé" ("sold") or its equivalent shall lead to the creation of a sales contract between the seller and the last recognised bidder. Bidders are deemed to act in their own name and on their own behalf, subject to any contrary agreement made with Daniel Maghen Enchères et Expertises prior to the auction.
e) Lots preceded by the sign
are the property, directly or indirectly, of Daniel Maghen Enchères et Expertises, its directors, employees or experts.3. FEES
Sales are made for cash, in euros and in French. Settlement must be made by the winning bidder immediately after the sale. If the winning bidder has not provided their personal data prior to the sale, they must provide proof of identity and banker's references.
a) Auctioneer's commission: In addition to the auction price, the purchaser agrees to pay a commission of 23% excluding VAT to Daniel Maghen Enchères et Expertises, + VAT at the current rate (i.e. 27.6 % including tax). Additional fees and special taxes may be due for some lots, over and above the usual fees and taxes. The lots concerned are identified by a special symbol placed in front of the number of the object in the sales catalogue or by an announcement made by the accredited auctioneer during the auction.
b) Lots from outside the EU: VAT of 5.5% on imports should be added to the auction price for lots from non-EU countries, indicated by the sign
, in addition to the taxes and commissions set out above.c) VAT: VAT on commissions and import duties may be refunded to the winning bidder on presentation of proofs of export of the lot outside the EU. A winning bidder from the EU holding an intra-Community VAT number and a document proving delivery in their member state may obtain the refund of the VAT on the commission.
d) Droit de suite (Artists’ Resale Right): In application of article L.122-8 of the French intellectual property code, authors of graphic and plastic works have, notwithstanding any transfer of the original work, the inalienable right to a share in the proceeds of any sale of this work at public auction. After the death of the author, this droit de suite continues to benefit their heirs during the calendar year of the decease and for the following 70 years. The purchaser shall bear the payment of the droit de suite at the rate applying on the day of the sale. Lots affected by this are indicated by the symbol
. If droit de suite applies to a lot you have acquired, you will be liable for the corresponding sum in addition to the auction price.The amount owing under droit de suite is determined by a decreasing scale according to the auction price as follows:
– 4 % for the portion of the price up to €50,000
– 3 % for the portion of the price between €50,000.01 and €200,000
– 1 % for the portion of the price between €200,000.01 and €350,000
– 0.5 % for the portion of the price between €350,000.01 and €500,000
– 0.25 % for the portion of the price above €500,000.01
The amount of the droit de suite cannot exceed €12,500
4. SETTLEMENT
Settlement is in cash for the total price, fees and taxes, even if an export licence must be obtained.The winning bidder may settle by any of the following methods:
- In cash: up to €1000 including fees and taxes for private persons residing in France and professionals; up to €15000 including fees and taxes for private persons residing outside France, on presentation of proof of identity, proof of residence and proof of the source of the funds.
- By bank transfer
- By banker's card (VISA or MASTERCARD)
- By a certified bank cheque drawn on a French bank payable to Daniel Maghen Enchères et Expertises, on presentation of proof of identity
5. FAILURE TO PAY
In application of article L.321-14 of the French Commercial Code, in the event of payment default by the purchaser and following an official notification remaining without effect, the lot shall be offered for sale again at the request of the seller, on the basis of irresponsible bidding by the defaulting bidder. If the seller does not make this request within three months with effect from the date of the auction, the sale shall be cancelled ipso jure without prejudice to any damages for which the defaulting bidder may be liable. Moreover, Daniel Maghen Enchères et Expertises reserves the right to demand that the latter pays interest at the legal rate, reimbursement of any costs incurred for the recovery of sums owing by him and the payment of the difference between the initial auction price and the final price, if the latter is lower, and the costs incurred by the new auction.6. REMOVAL OF LOTS
The object will be the entire responsibility of the winning bidder as soon as the auction is over. The lots sold will only be remitted to the winning bidders after the total payment of the purchase. Absentee bidders who have not taken possession of their lots before the closure of the auction room must go to the following address: 36, rue du Louvre 75001 Paris to settle and take possession of their lots.Purchasers are responsible for insuring their acquisitions; Daniel Maghen Enchères et Expertises declines any liability for damage that the object may suffer after the fall of the hammer. All formalities and transportation are the exclusive responsibility of the purchaser.
7. PRE-EMPTIVE RIGHT OF THE FRENCH STATE
The French State has a right of pre-emption for works offered for sale at public auction. The exercise of this right in respect of an auction is confirmed within two weeks of the date of the sale. In this event the State takes the place of the winning bidder. Daniel Maghen Enchères et Expertises cannot be held liable for the conditions of pre-emption by the French State.8. INTELLECTUAL PROPERTY
Daniel Maghen Enchères et Expertises is the owner of all rights of reproduction of its catalogue. Any reproduction of the latter is forbidden and constitutes passing off to its detriment. It is hereby explicitly stated that the sale of an original work does not give its purchaser the right of reproduction, distribution or representation.
9. PERSONAL DATA PROTECTION CLAUSE
The personal data demanded of the potential purchaser within the framework of these conditions of sale at public auction are essential for the latter’s correct operation.They will be stored for the time required to this end; however, and in compliance with the French law “INFORMATIQUE ET LIBERTE” of 6th January 1978, potential purchasers have the right to access their personal data, and if necessary modify, rectify or object to them by writing to the following address: Société Daniel Maghen Enchères et Expertises 36, rue du Louvre 75001 Paris.
10. APPLICABLE LEGISLATION AND JURISDICTION
Applicable law and jurisdiction: these general conditions of sale at public auctions are subject to French law.Any difficulty with regard to their interpretation or their execution shall be submitted to the Paris Law Courts. Goods subject to specific legislation: It is the responsibility of every bidder to verify his country's legislation with regard to any object prior to its acquisition, since Daniel Maghen Enchères et Expertises cannot be held liable for any such provision.