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Lot 89: BILLY YALWANGA (BORN 1952) Nawarrang - The Giant Oenpelli Python ochre pigments on stringy bark

Est: $800 AUD - $1,200 AUDSold:
Mossgreen AuctionsJune 07, 2017Woolahra, Australia

Item Overview

Description

BILLY YALWANGA (BORN 1952)
Nawarrang - The Giant Oenpelli Python
natural earth pigments on eucalyptus bark
cat. YAL 23
80 x 36 cm

PROVENANCE
Maningrida Arts & Crafts, Northern Territory (label verso)

Artist or Maker

Payment & Shipping

Accepted forms of payment: Wire Transfer

Auction Details

SG17 - The Colin Davies Collection

by
Mossgreen Auctions
June 07, 2017, 06:00 PM AEST

36-40 Queen Street, Woolahra, NSW, 2025, AU

Terms

Buyer's Premium

27.0%

Bidding Increments

From:To:Increment:
$0$499$20
$500$999$50
$1,000$1,999$100
$2,000$4,999$200
$5,000$9,999$500
$10,000$19,999$1,000
$20,000$49,999$2,000
$50,000$99,999$5,000
$100,000$199,999$10,000
$200,000$499,999$20,000
$500,000+$50,000

Terms and Conditions of Sale

The terms and conditions of sale listed here contain the policies of Mossgreen Pty Ltd. They are the terms on which Mossgreen Pty Ltd and the Seller contract with the Buyer. They may be amended by printed Saleroom Notices or oral announcements made before and during the sale. By bidding at auction you agree to be bound by these terms.

1. Background to the Terms used in these Conditions
The conditions that are listed below contain terms that are used regularly and may need explanation. They are as follows:

"the Buyer" means the person with the highest bid accepted by the Auctioneer.

"the Lot" means any item depicted within the sale for auction and in particular the item or items described against any lot number in the catalogue.

"the Hammer price" means the amount of the highest bid accepted by the auctioneer in relation to a lot.

"the Buyers Premium" means the charge payable by the Buyer to the auction house as a percentage of the hammer price.

"the Reserve" means the lowest amount at which Mossgreen has agreed with the Seller that the lot can be sold.

"Forgery" means an item constituting an imitation originally conceived and executed as a whole, with a fraudulent intention to deceive as to authorship, origin, age, period, culture or source, where the correct description as to such matters is not reflected by the description in the catalogue. Accordingly no lot shall be capable of being a forgery by reason of any damage or restoration work of any kind (Including re-painting).

"the insured value" means the amount that Mossgreen in its absolute discretion from time to time shall consider the value for which a lot should be covered for insurance (whether or not insurance is arranged by Mossgreen).

All values expressed in Mossgreen Pty Ltd catalogues (in any format) are in Australian Dollars (AU$). All bids, "hammer price", "reserves", "Buyers Premium" and other expressions of value are understood by all parties to be in Australian Dollars (AU$) unless otherwise specified.

2. Mossgreen Auctions as Agent
Except as otherwise stated Mossgreen Pty Ltd acts as agent for the Seller.

The contract for the sale of the property is therefore made between the Seller and the Buyer.

3. Before the Sale
EXAMINATION OF PROPERTY
Prospective Buyers are strongly advised to examine in person any property in which they are interested before the Auction takes place. Neither Mossgreen nor the Seller provides any guarantee in relation to the nature of the property apart from the Limited warranty in the paragraph below.

The property is otherwise sold "AS IS"

CATALOGUE AND OTHER DESCRIPTIONS
All statements by Mossgreen in the catalogue entry for the property or in the condition report, or made orally or in writing elsewhere, are statements of opinion and are not to be relied upon as statements of fact. Such statements do not constitute a representation, warranty or assumption of liability by Mossgreen of any kind. References in the catalogue entry to the condition report to damage or restoration are for guidance only and should be evaluated by personal inspection by the bidder or a knowledgeable representative. The absence of such a reference does not imply that an item is free from defects or restoration, nor does a reference to particular defects imply the absence of any others. Estimates of the selling price should not be relied on as a statement that this is the price at which the item will sell or it's value for any other purpose. Neither Mossgreen nor The Seller is responsible for any errors or omissions in the catalogue or any supplemental material.

Images are measured height by width (sight size). Illustrations are provided only as a guide and should not be relied upon as a true representation of colour or condition. Images are not shown at a standard scale.

An item bought "on Extension" must be paid for in full before it will be released to the purchaser or his/her agreed expertising committee or specialist. Payments received for such items will be held "in trust" for up to 90 days or earlier, if the issue of authenticity has been resolved more quickly. Extensions must be requested before the auction.

Foreign buyers should note that all transactions are in Australian dollars so there may be a small exchange rate risk. The costs associated with acquiring a good certificate will be carried by the purchaser. If the item turns out to be forged or otherwise incorrectly described, all reasonable costs will be borne by the vendor.

BUYERS RESPONSIBILITY
All property is sold "as is" without representation or warranty of any kind by Mossgreen or the Seller. Buyers are responsible for satisfying themselves concerning the condition of the property and the matters referred to in the catalogue by requesting a condition report.

No lot to be rejected if, subsequent to the sale, it has been immersed in liquid or treated by any other process unless the Auctioneer's permission to subject the lot to such immersion or treatment has first been obtained in writing.

4. At the Sale
REFUSAL OF ADMISSION
Mossgreen reserves the right at our complete discretion to refuse admission to the auction premises or participation in any auction and to reject any bid.

REGISTRATION BEFORE BIDDING
Any prospective new buyer must complete and sign a registration form and provide photo identification before bidding. Mossgreen may request bank, trade or other financial references to substantiate this registration.

BIDDING AS A PRINCIPAL
When making a bid, a bidder is accepting personal liability to pay the purchase price including the buyers premium and all applicable taxes, plus all other applicable charges, unless it has been explicitly agreed in writing with Mossgreen before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to Mossgreen and that Mossgreen will only look to the principal for payment.

INTERNATIONAL REGISTRATIONS
All International clients not known to Mossgreen will be required to scan or fax through an accredited form of photo identification and pay a deposit at our discretion in cleared funds into Mossgreen's account at least 24 hours before the commencement of the auction. Bids will not be accepted without this deposit. Mossgreen also reserves the right to request any additional forms of identification prior to registering an overseas bid.

This deposit can be made using a credit card, however the balance of any purchase price in excess of $5,000 can not be charged to this card without prior arrangement.

This deposit is redeemable against any auction purchase.

ABSENTEE BIDS
Mossgreen will use reasonable efforts to execute written bids delivered to us AT LEAST 24 Hours before the sale for the convenience of those clients who are unable to attend the auction in person. If we receive identical written bids on a particular lot, and at the auction these are the highest bids on that lot, then the lot will be sold to the person whose written bid was received and accepted first. Execution of written bids is a free service undertaken subject to other commitments at the time of the sale and we do not accept liability for failing to execute a written bid or for errors or omissions which may arise. It is the bidder's responsibility to check with Mossgreen after the auction if they were successful. Unlimited or "Buy" bids will not be accepted.

TELEPHONE BIDS
Priority will be given to overseas and interstate bidders. Please refer to the catalogue for the Telephone Bids form. Arrangements for this service must be confirmed AT LEAST 24 HOURS PRIOR to the auction commencing. Mossgreen accepts no responsibility whatsoever for any errors or failure to execute bids. In telephone bidding the buyer agrees to be bound by all terms and conditions listed here and accepts that Mossgreen cannot be held responsible for any miscommunications in the process. The success of telephone bidding cannot be guaranteed due to circumstances that are unforeseen. Buyers should be aware of the risk and accept the consequences should contact be unsuccessful at the time of Auction. You must advise Mossgreen of the lots in question and you will be assumed to be a buyer at the minimum price of 75% of estimate (ie. reserve) for all such lots. Mossgreen will advise Telephone Bidders who have registered at least 24 hours before the auction of any relevant changes to descriptions, withdrawals or any other sale room notices.

ONLINE BIDDING
Mossgreen offers an online bidding service. When bidding online the buyer agrees to be bound by all terms and conditions listed here by Mossgreen.

Mossgreen accepts no responsibility for any errors, failure to execute bids or any other miscommunications regarding this process. It is the online bidder's responsibility to ensure the accuracy of the relevant information regarding bids, lot numbers and contact details.

RESERVES
Unless otherwise indicated, all lots are offered subject to a reserve, which is the confidential minimum price below which the Lot will not be sold. The reserve will not exceed the low estimate printed in the catalogue. The auctioneer may open the bidding on any Lot below the reserve by placing a bid on behalf of the Seller. The auctioneer may continue to bid on behalf of seller up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to other bidders.

AUCTIONEERS DISCRETION
The Auctioneer has the right at his absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as he may decide, to withdraw or divide any lot, to combine any two or more lots and, in the case or error or dispute and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the item in dispute. If any dispute arises after the sale, then Mossgreen's sale record is conclusive.

SUCCESSFUL BID AND PASSING OF RISK
Subject to the auctioneer's discretion, the highest bidder accepted by the auctioneer will be the buyer and the striking of his hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the Seller and the Buyer. Risk and responsibility for the lot (including frames or glass where relevant) passes immediately to the Buyer.

INDICATIVE BIDDING STEPS, ETC.
Mossgreen reserves the right to refuse any bid, withdraw any lot from sale, to place a reserve on any lot and to advance the bidding according to the following:

Increment Amount Dollar Range
$20 $0-$500
$50 $500-$1,000
$100 $1,000-$2,000
$200 $2,000-$5,000
$500 $5,000-$10,000
$1,000 $10,000-$20,000
$2,000 $20,000-$50,000
$5,000 $50,000-$100,000
$10,000 $100,000-$200,000
$20,000 $200,000-$500,000
$50,000 $500,000+
Absentee bids must follow these increments and any bids that don't follow the steps will be rounded up to the nearest acceptable bid.
5. After the Sale
BUYERS PREMIUM
In addition to the hammer price, the buyer agrees to pay to Mossgreen the buyers premium. The buyer's premium is 24% of the hammer price plus GST. (Goods and Services Tax) where applicable.

PAYMENT AND PASSING OF TITLE
The buyer must pay the full amount due (comprising the hammer price, buyers premium and any applicable taxes and GST) not later than 5 days after the auction date.

The buyer will not acquire title for the lot until Mossgreen receives full payment in cleared funds, and no goods under any circumstances will be released without confirmation of cleared funds received. This applies even if the buyer wishes to send items interstate or overseas.

Payment can be made by direct transfer, cash (not exceeding $10,000AUD, if wishing to pay more than $10,000AUD then this must be deposited directly into a Bank of Melbourne / St George branch and bank receipt supplied) and EFTPOS (please check the daily limit). Payments can also be made by credit card in person with a 1.3% (+GST) merchant fee for Visa and Mastercard and 2.85% (+GST) for American Express. Invoices that are in excess of $5,000 and where the card holder is not present, can not be charged to a credit card without prior arrangement. Personal cheques are accepted, but funds must be cleared before goods will be released. Bank cheques are subject to three days clearance. The buyer is responsible for any bank fees and charges applicable for the transfer of funds into Mossgreen's account.

COLLECTION OF PURCHASES & INSURANCE
Mossgreen is entitled to retain items sold until all amounts due to us have been received in full in good cleared funds. Subject to this, the Buyer shall collect purchased lots within 5 days from the date of the sale unless otherwise agreed in writing between Mossgreen and the Buyer.

At the fall of the hammer, insurance is the responsibility of the purchaser.

PACKING, HANDLING AND SHIPPING
Mossgreen will be able to suggest removals companies that the buyer can use but takes no responsibility whatsoever for the actions of any recommended third party. Mossgreen can pack and handle goods purchased at the auction by agreement and a charge will made for this service. All packing, shipping, insurance, postage & associated charges will be borne by the purchaser.

CULTURAL HERITAGE EXPORT LICENCES
Unless otherwise agreed by us in writing, the fact that the buyer wishes to apply for an export licence does not affect his or her obligation to make full payment immediately, nor our right to charge interest or storage charges on late payment. It is the Buyer's responsibility to check Australia's Protection of Moveable Cultural Heritage Act 1986 before purchase. If the Buyer requests Mossgreen to apply for an export licence then we shall be entitled to charge a fee for this service. We shall not be obliged to rescind a sale nor to refund any interest or other expenses incurred by the Buyer where payment is made by the Buyer in circumstances where an export licence is not granted.

REMEDIES FOR NON-PAYMENT
If the Buyer fails to make full payment immediately, Mossgreen is entitled to exercise one or more of the following rights or remedies (in addition to asserting any other rights or remedies available under the law)

to charge interest at such a rate as we shall reasonably decide.

to hold the defaulting Buyer liable for the total amount due and to commence legal proceedings for it's recovery along with interest, legal fees and costs to the fullest extent permitted under applicable law.

to cancel the sale.

to resell the property publicly or privately on such terms as we see fit.

to pay the Seller an amount up to the net proceeds payable in respect of the amount bid by the defaulting Buyer. In these circumstances the defaulting Buyer can have no claim upon Mossgreen in the event that the item(s) are sold for an amount greater than the original invoiced amount.

to set off against any amounts which Mossgreen may owe the Buyer in any other transactions, the outstanding amount remaining unpaid by the Buyer.

where several amounts are owed by the Buyer to us, in respect of different transactions, to apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not the Buyer so directs.

to reject at any future auction any bids made by or on behalf of the Buyer or to obtain a deposit from the Buyer prior to accepting any bids.

to exercise all the rights and remedies of a person holding security over any property in our possession owned by the Buyer whether by way of pledge, security interest or in any other way, to the fullest extent permitted by the law of the place where such property is located. The Buyer will be deemed to have been granted such security to us and we may retain such property as collateral security for such Buyer's obligations to us.

to take such other action as Mossgreen deem necessary or appropriate

If we do sell the property under paragraph (iv), then the defaulting Buyer shall be liable for payment of any deficiency between the total amount originally due to us and the price obtained upon reselling as well as for all costs, expenses, damages, legal fees and commissions and premiums of whatever kinds associated with both sales or otherwise arising from the default.

If we pay any amount to the Seller under paragraph (v) the Buyer acknowledges that Mossgreen shall have all of the rights of the Seller, however arising, to pursue the Buyer for such amount.

FAILURE TO COLLECT PURCHASES
Where purchases are not collected within 48 hours from the sale date, whether or not payment has been made, we shall be permitted to remove the property to a warehouse at the buyer's expense, and only release the items after payment in full has been made of removal, storage handling, insurance and any other costs incurred, together with payment of all other amounts due to us.

6. Extent of Mossgreen Liability
Mossgreen agrees to refund the purchase price in the circumstances of the Limited Warranty set out in paragraph 7 below. Apart from that, neither the Seller nor we, nor any of our employees or agents are responsible for the correctness of any statement of whatever kind concerning any lot, whether written or oral, nor for any other errors or omissions in description or for any faults or defects in any lots. Except as stated in paragraph 7 below, neither the Seller ourselves, our officers, agents or employees give any representation warranty or guarantee or assume any liability of any kind in respect of any lot with regard to merchantability, fitness for a particular purpose, description, size, quality, condition, attribution, authenticity, rarity, importance, medium, provenance, exhibition history, literature or historical relevance. Except as required by local law any warranty of any kind is excluded by this paragraph.

7. limited Warranty
Subject to the terms and conditions of this paragraph, the Seller warrants for the period of thirty days from the date of the sale that any property described in this catalogue (noting such description may be amended by any saleroom notice or announcement) which is stated without qualification to be the work of a named author or authorship is authentic and not a forgery. The term "Author" or "authorship" refers to the creator of the property or to the period, culture, source, or origin as the case may be, with which the creation of such property is identified in the catalogue. The warranty is subject to the following:

it does not apply where a) the catalogue description or saleroom notice corresponded to the generally accepted opinion of scholars and experts at the date of the sale or fairly indicated that there was a conflict of opinions, or b) correct identification of a lot can be demonstrated only by means of a scientific process not generally accepted for use until after publication of the catalogue or a process which at the date of the publication of the catalogue was unreasonably expensive or impractical or likely to have caused damage to the property.

the benefits of the warranty are not assignable and shall apply only to the original buyer of the lot as shown on the invoice originally issued by Mossgreen when the lot was sold at Auction.

the Original Buyer must have remained the owner of the lot without disposing of any interest in it to any third party.

The Buyer's sole and exclusive remedy against the Seller in place of any other remedy which might be available, is the cancellation of the sale and the refund of the original purchase price paid for the lot less the buyers premium which is non refundable. Neither the Seller nor Mossgreen will be liable for any special, incidental nor consequential damages including, without limitation, loss of profits not for interest.

The Buyer must give written notice of claim to us within thirty days of the date of the Auction. The Seller shall have the right, to require the Buyer to obtain two written opinions by recognised experts in the field, mutually acceptable to the Buyer and Mossgreen to decide whether or not to cancel the sale under warranty.

the Buyer must return the lot to Seller in the same condition that it was purchased.

8. Severability
If any part of these Conditions of Sale is found by any court to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the Conditions shall continue to be valid to the fullest extent permitted by law.

9. Copyright
The copyright of all images, illustrations and written material produced by Mossgreen relating to a lot including the contents of this catalogue, is and shall remain the property at all times of Mossgreen and shall not be used by the Buyer, nor by anyone else without our prior written consent. Mossgreen and the Seller make no representation or warranty that the Buyer of a property will acquire any copyright or other reproduction rights in it.

10. law and Jurisdiction
These terms and conditions and any matters concerned with the foregoing fall within the exclusive jurisdiction of the courts of the state in which the auction is held.

11. Pre-Sale Estimates
Mossgreen publishes with each catalogue our opinion as to the estimated price range for each lot. These estimates are approximate prices only and are not intended to be definitive. They are prepared well in advance of the sale and may be subject to revision. Interested parties should contact Mossgreen prior to auction for updated pre-sale estimates and starting prices.

12. Sale results
Mossgreen will provide auction results, which will be available as soon as possible after the sale. Results will include buyer's premium. These results will be posted at www.mossgreen.com.au.

13. goods and Service Tax
In accordance with A New Tax System (Goods and Services Tax) Act 1999 Mossgreen Auctions will collect on behalf of the Australian tax office (ATO) a Goods and Service Tax (GST) of 10% on all applicable transactions.

GST is applicable on the hammer price in the case where the seller is selling property that is owned by an entity registered for GST. GST is also applicable on the hammer price in the case where the seller is not an Australian resident. These lots are denoted by a dagger symbol † placed next to the estimate.

GST is also applicable on the buyer's premium.

Overseas buyers and buyers non-resident in Australia will not be charged GST on both hammer price and premiums under the following conditions:

The items are exported through a Mossgreen approved freight company including Australia Post

The items are exported within 60 days of the date of the sale

The invoice supplied by Mossgreen for purchases will be regarded as a Tax invoice for GST purposes.

14. Resale Royalty Scheme
Under the legal obligations of the Resale Royalty Scheme for Visual Artists Act 2009, sellers must provide the following information to comply with the act:

was the artwork acquired after 8 June 2010?

is the sale/reserve price (including GST) $1,000 or more?

is the artist from Australia or a country listed in the Regulations to the Act?

is the artist alive, or deceased less than 70 years?

The seller:

acknowledges that he or she understands his or her legal obligations under the Resale Royalty for Visual Artists Act 2009 (the Act)

undertakes to comply with all requirements of the Act, including by providing its agent, the company, with accurate information sufficient for compliance with sections 28 and 29 of the Act

undertakes to indemnify the company for any loss incurred by the company as a result of the vendor's failure to comply with any of the vendor's legal obligations under the Act

acknowledges that if he or she fails to comply with any of his or her legal obligations under the Act, the company may provide the vendor's name and contact details to Copyright Agency Limited (CAL)

Lots subject to payment of the Resale Royalty Scheme will be denoted by the §. The Australian Resale Royalty is a flat rate of 5% on the hammer price (including GST). The Australian Resale Royalty is payable by the buyer in addition to the buyers premium plus any applicable GST.

Payments & Collections

• TAJAN is an auction house specialised in moveable property governed byFrench Act no. 2000-642 of July 10th 2000.TAJAN acts as the seller's agent. The auctioneer is not a party to the saleagreement, which is solely binding on the seller and the successful bidder.

GENERAL TERMS

These general terms and conditions of sale, the sale and all matters relating thereto are governed by French law; the sellers, buyers and their agents accept that the courts of Paris (France) alone shall have jurisdiction over any legal action. These general terms and conditions are independent. Purchases must be made in cash and prices are stated in euros (€).

AMOUNTS PAYABLE BY THE BUYER
The buyer must pay TAJAN, in addition to the "hammer price", commission of 20% excl. tax of the sale price VAT shall be charged at the rate of 20% . Items originating from a country outside the European Union shall be marked with the symbol f and ff.
f: In addition to the regular buyer's premium, a commission of 5.5% (i.e., 6.6% inclusive of VAT) will be charged to the buyer.
ff: In addition to the regular buyer's premium, a commission of 20% (i.e.24% incl. VAT) will be charged to the buyer.
These additional costs may, in certain cases, be reimbursed to the buyer.
For more information, please contact our payment department on
+33 1 53 30 30 33.

PAYMENT

Payment must be made immediately after the sale. If the successful bidder did not register before the sale, he/she must provide proof of identity and bank references.
Payments may be made by one of the following methods:
- Bank transfer in euros,
- Visa card or Master Card (subject to the presentation of valid proof of identity).
- In cash in euros: for Individual European Union resident, and for all professionals, to an equal or lower amount of €1000.
- In cash in euros: for Individual only and non European Union resident, to an equal or lower amount of €15 000.
- Certified banker's draft in euros subject to the presentation of valid proof identity.
Cheques drawn on a foreign bank will not be accepted.
Cheques and bank transfers must be denominated in euros and made out to the order of TAJAN SA; you have the choice to pay on either banks:

BANQUE HSBC -Saint Augustin, 75008 Paris, France
IBAN FR 76 3005 6009 2409 2400 1375 856
Code SWIFT CCFRFRPP
Code banque 30056
Code guichet 00924
Compte 0924001 3758
Clé 56




TAJAN's payment department is open every working day from 9:00 AM to 12:30 PM and from 2:00 PM to 5:30 PM.
T. +33 1 53 30 30 33, or +33 1 53 30 30 36.

Buyers may only take possession of items sold after TAJAN has received full payment of the sale price and the related commission and costs.
As soon as an item is pronounced "sold", it shall be placed under the sole responsibility of the buyer. It shall be the buyer's responsibility to insure the item purchased immediately.

NON-PAYMENT
In accordance with Article 14 of French Act no. 2000-642 of July 10th 2000, if the successful bidder fails to pay for an item after the issuance of a formal demand that remains without effect, the item shall be re-auctioned at the seller's request. If the price of the new bid is lower than the original false bidder's price, the false bidder shall pay the difference. If the seller does not make such a request within one month of the auction, the sale shall be cancelled by operation of law, without prejudice to the damages payable by the false bidder.
TAJAN reserves the right to claim the following from the false bidder:
- interest at the statutory rate,
- the reimbursement of the additional costs incurred by reason of his/her
default,
- payment of the sale price or:
- the difference between this price and the resale price if the latter is
lower, as well as the costs incurred in relation with the re-auction.
- the difference between this price and the original false bidder's price if the latter is lower, as well as the costs incurred by the re-auction.
TAJAN also reserves the right to offset any amounts which the false bidder owes to it.
TAJAN reserves the right to ban any bidder who fails to comply with its general terms and conditions of sale from attending any future auction.

FRENCH STATE'S RIGHT OF PRE-EMPTION

The French State has a right of pre-emption in respect of certain works of art offered at auction. If the State wishes to exercise this right in respect of a sale, it must express its intention to do so within 15 days of the sale. In this case, the State shall be substituted for the last highest bidder.

IMPORT AND EXPORT

The import and export of goods may be subject to authorisation (export certificates, customs authorisations). It is the buyer's responsibility to check which authorisations are required.

COLLECTION OF ITEMS PURCHASED

The buyer may not take receipt of any lot until such time as he/she has paid all amounts due in full delivery of the goods. In the event of a payment by cheque or bank transfer, delivery of the goods may be deferred until such time as the payment has cleared.
In this case, storage costs shall be borne by the buyer and TAJAN shall incur no liability whatsoever in this respect.
• TAJAN is an auction house specialised in moveable property governed byFrench Act no. 2000-642 of July 10th 2000.TAJAN acts as the seller's agent. The auctioneer is not a party to the saleagreement, which is solely binding on the seller and the successful bidder.

GENERAL TERMS

These general terms and conditions of sale, the sale and all matters relating thereto are governed by French law; the sellers, buyers and their agents accept that the courts of Paris (France) alone shall have jurisdiction over any legal action. These general terms and conditions are independent. Purchases must be made in cash and prices are stated in euros (€).

WARRANTIES

The seller warrants to TAJAN and to the buyer that he/she is the undisputed owner of the items offered for sale or that he/she has been authorised by the undisputed owner, that the said items are not encumbered by any claim, dispute, attachment, reservation or pledge and that he/she can legally transfer ownership of these items.

The information included in the catalogue is prepared by TAJAN with the assistance of the Expert, if necessary, with the care required for public auctions, subject to the notices, declarations and amendments announced upon presentation of the item and noted in the record of sale. This information, including the dimensions set out in the catalogue, is provided to help the potential buyer inspect items and must be assessed personally by him/her.
If no information on restoration, an accident, retouching or any other incident is provided in the catalogue, the condition reports or labels or during a verbal announcement, this does not mean that the item is void of defects.
Inasmuch as buyers are given the opportunity to examine works displayed prior to the sale, no claim may be made after the sale is complete.
Buyers may obtain a condition report on items included in the catalogue that are estimated at more than €1000 upon request. The information contained in such reports is provided free of charge and solely to serve as an indication.
It shall by no means incur the liability of TAJAN. In the event of a dispute concerning inter alia the authenticity or origin of items sold, TAJAN is bound by a best endeavours obligation; its liability may only be incurred if evidence is provided that it committed a wrongdoing.

ESTIMATES AND RESERVE PRICES

The estimated sale price appears beside each lot included in the catalogue.
It does not include the buyer's premium or VAT. The reserve price is the minimum confidential price agreed with the seller. If the reserve price is not met, the item will not be sold. The reserve price may not exceed the lowest estimate set out in the catalogue or announced publicly by the accredited auctioneer and noted in the auction house's files.
If no reserve price is set, TAJAN shall not incur any liability vis-à-vis the seller if the item concerned is sold at a price lower than the lowest estimate published in the sale catalogue.

BIDS

All individuals who register with Tajan shall have the right to access and rectify the personal data they provide to Tajan in accordance with the French Data Protection Act of 6 January 1978, as amended by the Act of 6 August 2004. Auctions will be carried out following the order of the lot numbers as they appear in the catalogue. Tajan is free to set the increment of each bid and all bidders must adhere to this process. The highest and last bidder will be the successful bidder. In the event of a dispute during the bidding process, that is, if two or more bidders simultaneously place the same bid, either orally or by a signal, and each claim the item concerned when the auctioneer has declared the item "sold", the said item will be re-auctioned immediately at the price offered by the bidders and all those present may take part in this second auction.
Any individual who makes a bid during the sale shall be deemed to be doing so in his/her own name; he/she shall assume full responsibility for his/her bid, unless he/she registered him/herself as an agent with Tajan and stipulated that the bid was being made for a designated third party. In the event the seller sets a reserve price, Tajan reserves the right to propose
bids on the seller's behalf until such time as the reserve is met.

ABSENTEE BID FORMS AND TELEPHONE BIDS

For significant purchases, a buyer may be asked to provide a bank letter of credit. If several absentee bid forms are submitted for the same item, the first order received will take priority. Telephone bids may be placed by clients who cannot attend the auction. Telephone bidding can only be arranged for lots with sale estimates over €400.
This is a service graciously provided free of charge to the client. TAJAN, its employees, agents and representatives shall not incur any liability in the event of an error or omission in the execution of orders received or the non execution of orders.


CURRENCY CONVERSION

Sales are carried out in euros. A currency conversion panel will be displayed at certain auctions. The currency rates shown are provided for information purposes only. TAJAN shall under no circumstances be held liable for any errors that occur in the conversion of currencies. Information provided in euros by the accredited auctioneer alone shall be valid.

AMOUNTS PAYABLE BY THE BUYER
The buyer must pay TAJAN, in addition to the "hammer price", commission of 25% excl. tax of the sale price on the first €60 000, 20% excl. tax after €60 001 and up to €1 200 000, 12% excl. tax for the portion above €1 200 000. In addition, VAT shall be charged at the rate of 20% . Items originating from a country outside the European Union shall be marked with the symbol f and ff.
f: In addition to the regular buyer's premium, a commission of 5.5% (i.e., 6.6% inclusive of VAT) will be charged to the buyer.
ff: In addition to the regular buyer's premium, a commission of 20% (i.e.24% incl. VAT) will be charged to the buyer.
These additional costs may, in certain cases, be reimbursed to the buyer.
For more information, please contact our payment department on
+33 1 53 30 30 33.

PAYMENT

Payment must be made immediately after the sale. If the successful bidder did not register before the sale, he/she must provide proof of identity and bank references.
Payments may be made by one of the following methods:
- Bank transfer in euros,
- Visa card or Master Card (subject to the presentation of valid proof of identity).
- In cash in euros: for Individual European Union resident, and for all professionals, to an equal or lower amount of €1000.
- In cash in euros: for Individual only and non European Union resident, to an equal or lower amount of €15 000.
- Certified banker's draft in euros subject to the presentation of valid proof identity.
Cheques drawn on a foreign bank will not be accepted.
Cheques and bank transfers must be denominated in euros and made out to the order of TAJAN SA; you have the choice to pay on either banks:

BANQUE HSBC -Saint Augustin, 75008 Paris, France
IBAN FR 76 3005 6009 2409 2400 1375 856
Code SWIFT CCFRFRPP
Code banque 30056
Code guichet 00924
Compte 0924001 3758
Clé 56


BANQUE OBC - 3, avenue Hoche, 75008 Paris, France
IBAN FR 76 3078 8009 0001 1409 5000 159
Code SWIFT NSMBFRPP
Code banque 30788
Code guichet 00900
Compte 01140950001
Clé 59

TAJAN's payment department is open every working day from 9:00 AM to 12:30 PM and from 2:00 PM to 5:30 PM.
T. +33 1 53 30 30 33, or +33 1 53 30 30 36.

Buyers may only take possession of items sold after TAJAN has received full payment of the sale price and the related commission and costs.
As soon as an item is pronounced "sold", it shall be placed under the sole responsibility of the buyer. It shall be the buyer's responsibility to insure the item purchased immediately.

NON-PAYMENT
In accordance with Article 14 of French Act no. 2000-642 of July 10th 2000, if the successful bidder fails to pay for an item after the issuance of a formal demand that remains without effect, the item shall be re-auctioned at the seller's request. If the price of the new bid is lower than the original false bidder's price, the false bidder shall pay the difference. If the seller does not make such a request within one month of the auction, the sale shall be cancelled by operation of law, without prejudice to the damages payable by the false bidder.
TAJAN reserves the right to claim the following from the false bidder:
- interest at the statutory rate,
- the reimbursement of the additional costs incurred by reason of his/her
default,
- payment of the sale price or:
- the difference between this price and the resale price if the latter is
lower, as well as the costs incurred in relation with the re-auction.
- the difference between this price and the original false bidder's price if the latter is lower, as well as the costs incurred by the re-auction.
TAJAN also reserves the right to offset any amounts which the false bidder owes to it.
TAJAN reserves the right to ban any bidder who fails to comply with its general terms and conditions of sale from attending any future auction.

FRENCH STATE'S RIGHT OF PRE-EMPTION

The French State has a right of pre-emption in respect of certain works of art offered at auction. If the State wishes to exercise this right in respect of a sale, it must express its intention to do so within 15 days of the sale. In this case, the State shall be substituted for the last highest bidder.

IMPORT AND EXPORT

The import and export of goods may be subject to authorisation (export certificates, customs authorisations). It is the buyer's responsibility to check which authorisations are required.

COLLECTION OF ITEMS PURCHASED

The buyer may not take receipt of any lot until such time as he/she has paid all amounts due in full delivery of the goods. In the event of a payment by cheque or bank transfer, delivery of the goods may be deferred until such time as the payment has cleared.
In this case, storage costs shall be borne by the buyer and TAJAN shall incur no liability whatsoever in this respect.
• TAJAN is an auction house specialised in moveable property governed byFrench Act no. 2000-642 of July 10th 2000.TAJAN acts as the seller's agent. The auctioneer is not a party to the saleagreement, which is solely binding on the seller and the successful bidder.

GENERAL TERMS

These general terms and conditions of sale, the sale and all matters relating thereto are governed by French law; the sellers, buyers and their agents accept that the courts of Paris (France) alone shall have jurisdiction over any legal action. These general terms and conditions are independent. Purchases must be made in cash and prices are stated in euros (€).

WARRANTIES

The seller warrants to TAJAN and to the buyer that he/she is the undisputed owner of the items offered for sale or that he/she has been authorised by the undisputed owner, that the said items are not encumbered by any claim, dispute, attachment, reservation or pledge and that he/she can legally transfer ownership of these items.

The information included in the catalogue is prepared by TAJAN with the assistance of the Expert, if necessary, with the care required for public auctions, subject to the notices, declarations and amendments announced upon presentation of the item and noted in the record of sale. This information, including the dimensions set out in the catalogue, is provided to help the potential buyer inspect items and must be assessed personally by him/her.
If no information on restoration, an accident, retouching or any other incident is provided in the catalogue, the condition reports or labels or during a verbal announcement, this does not mean that the item is void of defects.
Inasmuch as buyers are given the opportunity to examine works displayed prior to the sale, no claim may be made after the sale is complete.
Buyers may obtain a condition report on items included in the catalogue that are estimated at more than €1000 upon request. The information contained in such reports is provided free of charge and solely to serve as an indication.
It shall by no means incur the liability of TAJAN. In the event of a dispute concerning inter alia the authenticity or origin of items sold, TAJAN is bound by a best endeavours obligation; its liability may only be incurred if evidence is provided that it committed a wrongdoing.

ESTIMATES AND RESERVE PRICES

The estimated sale price appears beside each lot included in the catalogue.
It does not include the buyer's premium or VAT. The reserve price is the minimum confidential price agreed with the seller. If the reserve price is not met, the item will not be sold. The reserve price may not exceed the lowest estimate set out in the catalogue or announced publicly by the accredited auctioneer and noted in the auction house's files.
If no reserve price is set, TAJAN shall not incur any liability vis-à-vis the seller if the item concerned is sold at a price lower than the lowest estimate published in the sale catalogue.

BIDS

All individuals who register with Tajan shall have the right to access and rectify the personal data they provide to Tajan in accordance with the French Data Protection Act of 6 January 1978, as amended by the Act of 6 August 2004. Auctions will be carried out following the order of the lot numbers as they appear in the catalogue. Tajan is free to set the increment of each bid and all bidders must adhere to this process. The highest and last bidder will be the successful bidder. In the event of a dispute during the bidding process, that is, if two or more bidders simultaneously place the same bid, either orally or by a signal, and each claim the item concerned when the auctioneer has declared the item "sold", the said item will be re-auctioned immediately at the price offered by the bidders and all those present may take part in this second auction.
Any individual who makes a bid during the sale shall be deemed to be doing so in his/her own name; he/she shall assume full responsibility for his/her bid, unless he/she registered him/herself as an agent with Tajan and stipulated that the bid was being made for a designated third party. In the event the seller sets a reserve price, Tajan reserves the right to propose
bids on the seller's behalf until such time as the reserve is met.

ABSENTEE BID FORMS AND TELEPHONE BIDS

For significant purchases, a buyer may be asked to provide a bank letter of credit. If several absentee bid forms are submitted for the same item, the first order received will take priority. Telephone bids may be placed by clients who cannot attend the auction. Telephone bidding can only be arranged for lots with sale estimates over €400.
This is a service graciously provided free of charge to the client. TAJAN, its employees, agents and representatives shall not incur any liability in the event of an error or omission in the execution of orders received or the non execution of orders.


CURRENCY CONVERSION

Sales are carried out in euros. A currency conversion panel will be displayed at certain auctions. The currency rates shown are provided for information purposes only. TAJAN shall under no circumstances be held liable for any errors that occur in the conversion of currencies. Information provided in euros by the accredited auctioneer alone shall be valid.

AMOUNTS PAYABLE BY THE BUYER
The buyer must pay TAJAN, in addition to the "hammer price", commission of 25% excl. tax of the sale price on the first €60 000, 20% excl. tax after €60 001 and up to €1 200 000, 12% excl. tax for the portion above €1 200 000. In addition, VAT shall be charged at the rate of 20% . Items originating from a country outside the European Union shall be marked with the symbol f and ff.
f: In addition to the regular buyer's premium, a commission of 5.5% (i.e., 6.6% inclusive of VAT) will be charged to the buyer.
ff: In addition to the regular buyer's premium, a commission of 20% (i.e.24% incl. VAT) will be charged to the buyer.
These additional costs may, in certain cases, be reimbursed to the buyer.
For more information, please contact our payment department on
+33 1 53 30 30 33.

PAYMENT

Payment must be made immediately after the sale. If the successful bidder did not register before the sale, he/she must provide proof of identity and bank references.
Payments may be made by one of the following methods:
- Bank transfer in euros,
- Visa card or Master Card (subject to the presentation of valid proof of identity).
- In cash in euros: for Individual European Union resident, and for all professionals, to an equal or lower amount of €1000.
- In cash in euros: for Individual only and non European Union resident, to an equal or lower amount of €15 000.
- Certified banker's draft in euros subject to the presentation of valid proof identity.
Cheques drawn on a foreign bank will not be accepted.
Cheques and bank transfers must be denominated in euros and made out to the order of TAJAN SA; you have the choice to pay on either banks:

BANQUE HSBC -Saint Augustin, 75008 Paris, France
IBAN FR 76 3005 6009 2409 2400 1375 856
Code SWIFT CCFRFRPP
Code banque 30056
Code guichet 00924
Compte 0924001 3758
Clé 56


BANQUE OBC - 3, avenue Hoche, 75008 Paris, France
IBAN FR 76 3078 8009 0001 1409 5000 159
Code SWIFT NSMBFRPP
Code banque 30788
Code guichet 00900
Compte 01140950001
Clé 59

TAJAN's payment department is open every working day from 9:00 AM to 12:30 PM and from 2:00 PM to 5:30 PM.
T. +33 1 53 30 30 33, or +33 1 53 30 30 36.

Buyers may only take possession of items sold after TAJAN has received full payment of the sale price and the related commission and costs.
As soon as an item is pronounced "sold", it shall be placed under the sole responsibility of the buyer. It shall be the buyer's responsibility to insure the item purchased immediately.

NON-PAYMENT
In accordance with Article 14 of French Act no. 2000-642 of July 10th 2000, if the successful bidder fails to pay for an item after the issuance of a formal demand that remains without effect, the item shall be re-auctioned at the seller's request. If the price of the new bid is lower than the original false bidder's price, the false bidder shall pay the difference. If the seller does not make such a request within one month of the auction, the sale shall be cancelled by operation of law, without prejudice to the damages payable by the false bidder.
TAJAN reserves the right to claim the following from the false bidder:
- interest at the statutory rate,
- the reimbursement of the additional costs incurred by reason of his/her
default,
- payment of the sale price or:
- the difference between this price and the resale price if the latter is
lower, as well as the costs incurred in relation with the re-auction.
- the difference between this price and the original false bidder's price if the latter is lower, as well as the costs incurred by the re-auction.
TAJAN also reserves the right to offset any amounts which the false bidder owes to it.
TAJAN reserves the right to ban any bidder who fails to comply with its general terms and conditions of sale from attending any future auction.

FRENCH STATE'S RIGHT OF PRE-EMPTION

The French State has a right of pre-emption in respect of certain works of art offered at auction. If the State wishes to exercise this right in respect of a sale, it must express its intention to do so within 15 days of the sale. In this case, the State shall be substituted for the last highest bidder.

IMPORT AND EXPORT

The import and export of goods may be subject to authorisation (export certificates, customs authorisations). It is the buyer's responsibility to check which authorisations are required.

COLLECTION OF ITEMS PURCHASED

The buyer may not take receipt of any lot until such time as he/she has paid all amounts due in full delivery of the goods. In the event of a payment by cheque or bank transfer, delivery of the goods may be deferred until such time as the payment has cleared.
In this case, storage costs shall be borne by the buyer and TAJAN shall incur no liability whatsoever in this respect.



Shipping Terms