Payment shall be made in full in euros. In addition to the hammer price per lot and digressive
selling fees, buyers shall be required to pay the following taxes and charges:
• 24% tax-free of the hammer price up to and including € 50 000
• 20.50% tax-free of any amount in excess of 50 000 € up to and including € 500 000
• 17% tax-free of any amount in excess of € 500 000
Adding: V.A.T. (20%) The auction will follow the order of the catalogue numbers. The Auction
House and Experts reserve the right, in the interest of sales, to group together or split the
catalogue numbers. The sizes and weight of the works are provided on an indicative basis.
We have provided information on the condition of the objects in accordance with our means.
Goods are sold in the condition they are found at the time of sale. The condition of the items
noted in the catalogue is on a strictly indicative basis. In cases where there is no note in the
catalogue, this in no way implies that the lot is in perfect condition or does not need to be
restored, have wear and tear, cracks, require re-lining or contain other imperfections. As an
opportunity is afforded to examine the items described in the catalogue in the form of an
exhibition, no claims will be accepted with respect to the condition thereof, once the auction
has been completed and the item handed over. Re-Lining, cradling, and lining are considered
to be a conservation measure, not a defect. On request, a report on the condition of the item
can be provided for lots whose value is estimated at above €1000. Estimations are provided
on a purely indicative basis. The information on the source/origin of the item is provided by
the seller and OVV Binoche et Giquello may not be held liable for this.
All bidders who wish to make an offer or bid by telephone may send a request, by post, by
email or fax to O.V.V. Binoche et Giquello, along with their bank details. The telephone auctions
are a free service provided to customers who are not in a position to attend. O.V.V. Binoche et
Giquello and its staff cannot be held liable in the event of a problem with the telephone
connection. When two bids are identical, priority is given to the first bid received. In the event
of auction, the price to be paid is the auction price, plus fees, in accordance with the applicable
conditions at the time of sale.
A facility for online auctions is provided. Auctions are carried out on the www.drouotlive.com
website, a technical platform for remote participation in public auctions taking place in the
auction rooms. Auctions press is the partner company for users of the Drouot Live. Users wishing
to participate in online auctions via the Drouot Live platform must familiarize themselves, and
accept, without reservation, the conditions of use of this platform (available at
www.drouotlive.com), which are independent and additional to the present terms and
conditions of sale.
I/The purchaser shall be the highest and last bidder provided that the auction price is equal to
or greater than any reserve. If a reserve price has been stipulated by the seller, OVV Binoche et
Giquello reserves the right to make bids on behalf of the seller until the last auction increment
below that amount, either by making successive bids, or by making bids in response to other
bidders. However, the seller will not be permitted to make bids either directly or through an
agent. The fall of the hammer marks the end of the auction and the word “sold” or any other
equivalent shall result in the formation of a contract between the seller and the last accepted
bidder. In the event of a dispute at the end of the bidding, i.e. If it has been established that
one or more bidders simultaneously made an equivalent bid, either aloud, or by making a sign,
and claim the item after “sold” is pronounced, the object will be immediately put to auction
again at the price offered by the bidders and the public will be invited to bid again. Once sold,
the items become the sole responsibility of the buyer. The buyer should take measures to ensure
that the lot is insured as of the purchase. The buyer may not hold O.V.V. Binoche et Giquello,
liable in the event of loss, theft or damage to the lot.
II/VAT-Profit margin scheme- goods not marked by a symbol:
A/All unmarked goods will be sold under the profit margin scheme and the auction price will
not be increased by VAT. The purchase commission will be increased by a VAT equivalent amount
(20 % except for books at 5.5%) included in the margin. This VAT forms part of the purchase
commission and will not be mentioned separately in our documents.
III/Lots from outside the EU under the temporary admission scheme: (marked by a Ɵ in the
catalogue and/or stated at the beginning of the sale process). To the commissions and taxes
indicated above at the beginning of the sale conditions, additional costs of 5.5 %pre-tax should
be added to the auction price or 20 % pre-tax for jewels and watches, wines and spirits,
multiples and automobiles, additional costs increased by VAT currently 20% (5.5% for books).
IV /Reimbursement conditions for the additional costs and VAT (cf: 7th VAT Directive applicable
A/ If the lot is exported to a non-member state of the EU, the additional costs and VAT on the
commissions and on the additional costs may be reimbursed to the buyer non-resident of the
EU on presentation of proof of export outside the EU providing the buyer has sent to SARL
Binoche et Giquello copy n°3 of the customs export form and that this export took place within
two months as from the auction date (beyond this deadline, no reimbursement will be possible).
Binoche et Giquello SARL should be shown as the sender of the said customs document.
B/ If the lot is delivered in a member state of the EU, the VAT on the commissions and on the
additional costs may be reimbursed to an EU buyer who proves having an Intracommunity VAT
number and a document proving delivery in their member state subject to providing proof of
transport from France to another member state, within one month as from the sale date
(beyond this deadline, no reimbursement will be possible).
The buyer is required to pay in full and provide their name and address. In accordance with
TRACFIN rules, payment may not be made by a third party. In the event of payment by noncertified
cheque, the delivery of the items may be postponed until the cheque has been
processed. A number of weeks may be required. The buyers may not take delivery of their
purchases until payment has been received by the bank. Cheques from foreign banks will only
be authorised after prior agreement by the Auction House. To that end, buyers are encouraged
to obtain, before the auction, a letter of credit from their bank for an approximate value of the
amount they intend to spend, to be provided to the Auction House. Payment in cash in
accordance with Decree n°2010-662 of 16 June 2010 pursuant to Article L. 112-6 of the
Monetary and Financial Code on the prohibition on payment in cash for certain debts. For
exports outside the EU, reimbursement of VAT may only be obtained after obtaining proof that
the item has been exported within 3 months of the sale. Reimbursement will be made in the
name of the buyer. (cf: 7th VAT Directive applicable as of 01.01.1995). Buyer slips are payable
at the reception. Failing payment within 30 days, O.V.V. Binoche et Giquello may require as of
right and without any prior notice, the payment of compensation of € 40 for recovery costs
(Art L 441-3 and Art L 441-6 of the Commercial Code).
FAILURE TO MAKE PAYMENT
In accordance with the provisions of Article L. 321-14 of the Commercial Code, should the
buyer fail to make the payment, after notice has remained without effect, the item will be
placed for sale on the request of the seller for false bidding; if the seller does not formulate a
request within one month of the auction, they give us all rights to act in their name and on
their behalf, as we choose, to pursue the buyer for cancellation of the sale three months after
the sale, or to pursue execution of the payment of the said sale, in both cases claiming all
damages and interest, fees and other sums we deem to be desirable.
COLLECTION AND DISPATCH OF PURCHASES
Unless agreed in advance with the buyer, large objects and furniture should be collected from
storage at Hôtel Drouot. Other lots should be collected within 15 days from OVV Binoche et
Giquello. Once the deadline has passed, storage will be invoiced at 2 euros minimum per working
Drouot storage: Any item/lot that remains in the room the day after the sale at 10am, which
has not been removed by the Auction House, will be placed in storage at Hôtel Drouot. Access
via 6bis rue Rossini - 75009 Paris. Open from Monday to Saturday from 9am to 10am and 1pm
to 6pm. The Storage facility must be paid for by the buyer. The price on 1 September 2016 is as
follows: Administrative fee per lot: €5 excl. VAT Storage fees and insurance: €1 excl. VAT/day,
for the first 5 working days; €5/€9/€16 excl. VAT/day, as of the 6th working day, depending
on the size of the lot. One week of storage is offered free of charge for clients of Drouot
Transport. OVV Binoche et Giquello may not be held liable for storage of the items in the Hotel
on any grounds whatsoever. For all deliveries, a minimum fee of 36 euros applies.
The French State has a pre-emptive right to purchase art works or private documents offered
for sale to the public. The exercise of this right applies just after the hammer falls, and the State
representative notifies their intention to acquire the item and to substitute itself for the highest
bidder, and must confirm the acquisition within 15 days. Binoche et Giquello will not accept
liability with respect to the conditions of pre-emptive acquisition by the French State. Export
of certain cultural goods is subject to the acquisition of a certificate of free circulation for
cultural goods. Under no circumstances may the time required to obtain the certificate be
invoked to justify late payment. Under no circumstances may O.V.V. Binoche et Giquello and/or
the Seller be held liable should the authorities refuse to deliver the said certificate.
Following the August, 16th 2016 decree relating to elephant ivory and rhinoceros horn trade
on national soil, amended by the May 4th 2017 decree, manufactured ivory objects dating from
before 1947 are subject to declaration to French official authorities. This declaration will be
completed after the sale with the buyer’s contact details for the latter to move freely with the
object within the EU. For an expedition outside the EU, the object is subject to obtaining an
export CITES certificate.