TERMS OF SALE AND BIDS
The sale will be conducted in Euros (€). Purchasers pay in addition to the hammer price, a buyer’s premium from 0 to € 500 000: 25,20% (21 % + VAT). For amounts superior to € 500 000: 19% (15,83% + VAT). Lots from outside the EEC: (indentified by an*). In addition to the commissions and taxes indicated above, an additional import VAT will be charged (7% of the hammer price, 20% for jewelry). For any member of the EEC, non assembled stones are liable to VAT 20%. The auctioneer is bound by the indications in the catalogue, modified only by eventual announcements made at the time of the sale noted into the legal records thereof. Prospective bidders should inspect the property before bidding to determine its condition, size, and wether or not it has been repaired, restored or repainted. Exhibitions prior to the sale at Marc-Arthur KOHN SARL or on the sale point permits buyers to establish the condition of the works offered for sale, and therefore no claims will be accepted after the fall of the hammer. Pictures may differ from actual product.
Biddings will be in accordance with the lot numbers listed in the catalogue or as announced by the auctioneer, and will be in increments determined by the auctioneer. The highest and last bidder will be the purchaser. Should the auctioneer recognize two simultaneous bids on an object, the lot will be put up for sale again and all those present in the sale room may participate in this second opportunity to bid.
ABSENTEE BIDS AND TELEPHONE BIDS
If you wish to make a bid in writing or a telephone bid, we have to receive no later than two days before the sale your instructions accompanied by your bank references. In the event of identical bids, the earliest will take precedence. Telephone bids are a free service designed for clients unable to be present at an auction. Marc- Arthur KOHN SARL cannot be held responsible for any problems due to technical difficulties.
Any purchased lot that was not collected the day after the sale by 10am and that was not taken care by the auction house will be placed in Drouot storage facility. Storage fees will be applicable as follow: Administrative fees / lot VAT incl.: 5 €. Storage and insurance fees / lot VAT incl.: - 1€ / day, the first 4 working days - 1€ / 5€ / 10€ / 20€ /day, from the 5th working day, regarding the nature of the lot *** . Storage fees are capped at 50€ VAT incl. / withdrawal. A 50% reduction on storage fees is applied for foreign clients and province traders on subtantiating document. Storage fees are offered for lots shipped by Drouot TRANSPORT (shipping invoice accepted up to 10 days after the sale) Drouot Magasinage: 6bis rue Rossini - 75009 Paris – From Monday to Saturday, 9am-10am & 1pm-6pm - Tel. +33 (0) 1.48.00.80.18/56 - mail: email@example.com Drouot Transport: 9 rue Drouot – 75009 Paris- From Monday to Friday, 9am-1pm & 2pm-6,5pm – Tel: +33(0)1.48.00.22.49 – mail: firstname.lastname@example.org Lots shall be released upon production of the paid invoice and/or the lot’s label. Any lot that has not been collected within a year after its arrival at Drouot storage facility will be considered abandoned and its property rights will be transferred to Drouot as a guarantee to cover storage fees. ***Are considered : Very small: jewelry, books, works on paper without frame , lots with a volume up to 0,10m3 and which weigh under 10kg. Small: paintings smaller than 1,5 x 1,5 m, lots with a volume under 0,10m3 and which weigh between 10kg and 20kg, lots with a volume between 0,10m3 and 0,50m3 and which weigh under 20kg. Medium: Paintings larger than 1,5 x 1,5 m, lots with a volume under 0,50m3 and a which weigh between 20kg and 50kg, lots with a volume between 0,50m3 and 2m3 and which weigh under 50kg. Large: lots with a volume above 2m3, lots which weigh above 50kg, groups of lots.
COLLECTION OF PURCHASES
If payment is made by cheque or by wire transfer, lots cannot be withdrawn until the payment has been cleared. From the moment the hammer falls, sold items will become the exclusive responsibility of the buyer. The buyer will be solely responsible for the insurance. Marc-Arthur KOHN SARL assumes no liability for any damage to items. Buyers at Marc-Arthur KOHN SARL are requested to confirm with Marc-Arthur KOHN SARL before withdrawing their purchases. Kohn has several storage warehouses. An export licence can take four or six weeks to process, although this time may be significantly reduced depending upon how promptly the buyer supplies the necessary information to Marc-Arthur KOHN SARL.
Law and jurisdiction:
These Conditions of purchase are governed by french law exclusively. Any dispute shall be submitted to the exclusive jurisdiction of the Courts of Paris. For variety of reasons Marc-Arthur KOHN SARL reserves the right to record all telephone calls during the auction. Such records shall be kept until complete payement of the auction price, except claims. Toutes les conversations téléphoniques sont susceptibles d’être enregistrées.