Sales are governed by Articles L312-4 of the French Code of Commerce.
SVV Hôtel des Ventes Nice Riviera, as Sales Operator, shall serve as the
Seller’s agent, and all relations with bidding parties shall take place as
described in the present Terms of Sale.
Goods put up for auction: The details found in the Catalogue are legally
binding upon the Auction House and Experts assisting it, taking into
account any and all corrections announced upon submission of the object
and subsequently listed in the Record of Sale. Lining, parquet work and
sheathing shall be considered a preventive measure, and not a defect; size,
weight and estimated value shall be determined for guidance purposes only.
Prior exhibition of the item enables potential buyers to form their own
judgment of the condition of the objects put up for sale. Consequently,
no claims shall be considered once a lot has been sold. The SVV remains
at the buyers’ disposal for any information required and invites all
interested parties to seek information about the lots.
Bidding: The Buyer is defined as the highest and final bidder, and will be
required to provide name, address, proof of identity and bank details. All
buyers are assumed to be bidding on their own behalf and shall hold sole
responsibility for their bidding. Should a buyer bid on behalf of a
third-party, the buyer shall provide the identity of the latter beforehand,
so that the invoice can be correctly drawn up. No changes will be accepted
after the sale. Should the auctioneer declare double bidding to have
occurred, the lot shall be immediately put up for repeat sale, and all
interested parties will be invited to take part in the bidding. The auctioneer
and experts reserve the right, in the interest of the sale, to combine, split
or remove any lot from the sale.
Purchase Orders: The Auction House may fulfil free of charge any
purchase order submitted in writing, by Internet or by telephone. Buyers
wishing to proceed in this manner may send in their request in writing,
24 hours prior to the date of sale, by completing the form provided along
with a check or bank details. SVV Hôtel des Ventes Nice Riviera will act
on behalf of the bidding party, in accordance with the instructions given
in the form, in an effort to purchase the relevant lot at the lowest possible
price, not exceeding the stated maximum figure. Should an equivalent bid
be submitted in the room on the day of auction, the bidding party present
shall be given priority.
Telephone bidding shall be accepted where the lowest estimated price of
the lot is greater than EUR300. It is recommended that telephone bidders
provide a back-up purchase order which we will be able to execute on your
behalf, should we be unable to reach you. The Auction House may not be
held responsible for having failed to execute a purchase order due to error,
omission or dysfunction in telephone/Internet/Drouot Live services, or
for any other reason.
Payment of Agreed Price: Payment shall be made in Euros, immediately
after the sale. The successful bidder shall, furthermore, pay sales taxes and
fees in addition to the hammer price, amounting to :
1) in the eventuality of a volontary auction :
20,833 % H.T., soit 25 % T.T.C. (Frais volontaires)
2) *in the eventuality of a court imposed auction :
* 12 % H.T., soit 14,40 % T.T.C. (Frais judiciaires)
3) **in the eventuality of Pawnshop auction :
15 % TTC.
No lots shall be delivered to successful bidders until the amounts due are
paid in full.
Methods of payment:
- by check, along with valid personal ID, whereby due settlement
and transfer property will be subject to actual collection of the
non-certified check. Checks drawn on foreign banks shall be subject to
prior approval by the Auction House. Bidders are advised to secure, prior
to sale, a letter of credit from their bank in an amount close to their
intended highest bid and to provide it to the Auction House.
- in cash, not to exceed, taxes and fees included, EUR1,000 where the bidder
is a private individual or professional entity residing in France, and
EUR15,000 where the bidder is a private individual residing abroad, subject
to proof of identity, proof of origin of funds, and statement of declaration
of the relevant amount to the Customs Authorities, further to Decree
2010 - 662 dated 16 June 2010.
- by bank transfer (list order number)
- by Visa or MasterCard
VAT: Buyers not residing in the European Union may seek reimbursement
of the VAT included in the margin by sending the export customs document
(copy 3) to SVV, duly stamped by the Customs Authorities, within
two months following the sale. No tax-exclusive sales document will be
drawn up without official proof of export, as the intra-Community VAT
number does not constitute adequate proof.
Default of Payment: Payment by over-drafted checks or failure to pay shall
not incur the responsibility of the Auction House and, consequently, releases
it from the obligation to pay the Seller. In the event of failure to pay
within one month of being served official notice by certified letter with
proof of receipt at the addressee’s expense, and in the event of failure to
pay the amount due, the Buyer shall be charged an additional fee of 10%
of the final bidding price to cover collection fees, amounting to no less
than EUR300.
Enforcement of this clause shall neither: preclude the allocation of damages
or compensation; come at the expense of required proceedings; nor
pre-determine possible implementation of the
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