MIRALLES - Lot 136

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:

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 24% excluding VAT to Daniel Maghen Enchères et Expertises, + VAT at the current rate (i.e. 28.8 % 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