Conditions of Sale
ABRIDED SALES CONDITIONS
• Absente bids are processed in the best interest of the client. they must arrive no later than the morning of the sale.
• The buyer's premium is 30% all taxes included added on the hammer price on every lot.
• Lots marked with * are subject to the law of VAT on imports.
• Buyers are required to pay for their purchases after the sale. Either by bank check, wire transfer on Boule Auctions account or by cash within Monaco's limit.
• The lots will be delivered after full payment of the invoice. Postal charges, including insurance, will be charged to the buyer. No lot will be refunded 10 days after the date of the auction.
• No garantie is given or working order of watches and clocks.
• A condition report can be given or request
• Definitive terms of sale are in french at the end of the catalogue
CONDITIONS OF SALE
These conditions apply to the auctions conducted by Antiquorum Management AG and Boule Auctions SARL in Monaco.
1 In these circumstances, the words and expressions below will have the following meanings:
1.1 - "The Auctioneer" - BOULE AUCTIONS SARL / Antiquorum Management AG;
1.2 - "Catalog" - Any advertisement, brochure, price list and other publications;
1.3 - "Expenses" incurred on the sale of any lot - The costs and expenses incurred by the auctioneer for insurance, illustrations, special advertising, packaging, transportation and all other costs and expenses VAT in relation.
1.4 - "The hammer price" - The price in Euros to which the lot is awarded to the Buyer;
1.5 - "Lot" - Any article filed with the intention that it be auctioned;
1.6 - "Purchase Price" - The hammer price plus any expenses. VAT, additional charges and expenses in Euros due by a defaulting buyer in accordance with clause 21.
1.7 - "Proceeds from sale" - The net amount due to the seller consisting of the hammer price minus the seller's commission, all relevant VAT, expenses and any other amount owed by the seller to the auctioneer in any capacity that this either and generated in any way;
1.8 - "VAT" - Value added tax.
1.9 - The lots marked * were consigned by an owner outside of the European Union. Buyers will have to pay the VAT at the rate in application in addition to the auction, which can be refunded to non-EU buyers upon presentation of the export documents within one month after the sale, failing which this VAT cannot be refunded.
1.10 - "Fees" - The buyer must pay to the auctioneer: 30% Tax included (25% without VAT) of the hammer price of each lot.
2. The auctioneer sells as an agent for the seller and is not responsible for any fault committed by the seller or buyer.
3. Despite the efforts made to ensure the accuracy of the description of each lot in the catalog, the auctioneer does not guarantee that such a description is accurate. Any declaration, whether printed in the catalog or not, in connection with, without limitation, the authenticity, provenance, origin, age, date, condition, estimated selling price, or quality of any lot, is only the affirmation of an opinion and neither the auctioneer, nor his staff will be held responsible for the accuracy of any given opinion. No one is authorized by the auctioneer to make any declaration if it is not already printed in the catalog. The auctioneer does not commit to the proper functioning or the waterproofness of watches and provides no guarantee in time on the proper functioning of all timepieces
4. The auctioneer, if instructed by a potential buyer, may accept bidding on his behalf, provided that neither the auctioneer nor his employees or agents will be held liable for negligence or error in the auction. execution of orders or for non-execution of such orders.
5. The auctioneer reserves the right, in its sole discretion, to refuse any person admission to its premises or attendance at its auctions.
6. The bailiff reserves the right, in its sole discretion, to reject an auction, to divide any lot, to collect two or more lots, to withdraw from the auction any lot in case of conflict, to re-submit any lot on sale and raise the bids as he or she suits him.
7. The auctioneer shall not be held liable for any injury, damage or loss suffered by any person while on the premises of the auctioneer's sale and exhibition except in the event of personal injury or death caused by the negligence of the auctioneer, its employees and agents.
8. Any notice of the auctioneer addressed to the seller, buyer or potential buyer or any other person may be delivered by hand or sent by post, telex or fax and will be presumed to be received.
(a) - At the time of delivery if delivered by carrier;
(b) - Within 7 days of transmission within one business day if sent by telex or fax;
(c) - Within 48 hours after the date of postage if the mail is from the country itself and within seven days if it is coming from abroad.
9.
9.1- Any transaction subject to these conditions and any related matter shall be governed by Monegasque law and all the parties concerned shall refer to the non-exclusive jurisdiction of the Monegasque courts.
9.2- The reproduction rights of any writing and illustration referring to the prizes will be and remain at all times absolute property of the auctioneer and may not be used even partially by any person without the prior written consent of the auctioneer.
10. Seller's guarantee
10.1-The seller guarantees to the bailiff, the auctioneer and the buyer that he is the true owner of the lot or that he is a authorized agent and that he is able to transfer the full ownership of the lot, free from any privilege, pledge and charge to the benefit of a third party.
10.2-With regard to the lots imported in France and Monaco for auction, the seller guaranteed to the bailiff, the auctioneer and the buyer, that he has completed all formalities relating to the export such lots from their country of origin or from any other intermediate country and to imports into France and Monaco, including (without limitation) the payment of any duty and tax thereon, and the obtaining of any license, permit, or other authorization necessary for the export and import.
10.3-The seller will compensate the bailiff, the auctioneer and the buyer against all claims made or proceedings brought in the case of violation by the seller of clause 10.1 or 10.2 and will reimburse the bailiff, the auctioneer and to the buyer demands, any loss, expense, or resulting damage.
11. Reserve price
11.1 The Monegasque law does not allow a minimum price to be fixed, known as the "reserve price".
Consequently, the auctioneer, in order to guarantee the interests of the seller, will be able to bid in the name and on behalf of the seller and to redeem the lot if the other bids are not equal to or higher than the amount agreed upon. between the seller and the auctioneer ("the minimum price").
11.2 If no reserve price has been agreed between the auctioneer and the seller, the auctioneer will not be liable in any case if the lot is awarded at a price lower than the low estimate of the lot in the catalog.
11.3 If the agreed minimum bid price is expressed in a currency other than the Euro, the sum will be calculated according to the closing exchange rate provided to the auctioneer by C.M.B. the last bank business day before the date of the auction.
11.4 The equivalent in Euros of the minimum reserve price in foreign currency, may be increased or decreased during the auction to the nearest multiple in Euro depending on the progress of the auction.
11.5 The seller authorizes the auctioneer to accept lower bids at the agreed minimum bid price provided that, for the sole purpose of determining the amounts payable by or to the seller pursuant to these terms, the hammer price for any lot sold below the agreed minimum contract price will be estimated to be equal to the entire agreed minimum contract price and not to the lower price at which the lot was actually sold.
12. Unsold lots
Prizes redeemed or otherwise not sold by auction must be removed at the seller's expense within 24 hours of receipt by the seller of a notice from the auctioneer asking him to remove the property or according to the catalog section. "General Information".
At the end of such period, the auctioneer will have the right to sell such lots by public or private sale on the conditions that suit him and deduct from the proceeds of sale all amounts due to the auctioneer including (without limitation) the cost of warehouse and insurance removal and any other reasonable costs, and this before handing over the balance to the seller. The lots returned at the request of the seller will be returned at his risk as well as his expenses and will not be insured in transit unless the auctioneer receives instructions from the seller. In this clause the word "seller" includes a sender of goods and the term "proceeds of sale" will have the same meaning for a private sale as for an auction.
13. Photography and illustration
The auctioneer reserves the right to photograph and illustrate any lot and to make use of such photographs and illustrations, as well as those that the seller at his discretion will have provided, whether or not they relate to the auction.
14. Discretion of the auctioneer
The auctioneer may exercise its functions at its discretion and reserves the right without limitation to refuse a bid for a lot or to withdraw a lot from the sale and the seller cannot engage the responsibility of the auctioneer for any loss or damage suffered by the exercise of rights by the auctioneer.
15. Conditions of the buyer
Anyone wishing to bid will be held, and must before the sale, fill in the auctioneer a "registration form". The completed, signed and dated form will be returned to the auctioneer before the sale commences and a registration number will be made to each potential bidder. A bidder is only allowed to bid against delivery of an identification number and provided that he has signed these terms of sale to which the auctioneer expressly refers. The fact of bidding will automatically imply for the bidder that he has read, understood and accepted the said terms of sale.
16. The bailiff
16.1 The sale will be carried out by a bailiff in Monaco who will issue the auctions, ensure that the bids are properly made, and more generally take all necessary measures to maintain order during the sale.
16.2 The bailiff reserves the right in its sole discretion and without obligation to give reasons for its decision, to continue or stop the sale, to withdraw one or more lots, to accept or reject an auction, to proceed with any and all division, meeting or withdrawal of the lot.
16.3 In general, the bailiff has full jurisdiction to make any decision to settle any dispute arising during the sale.
16.4 The bailiff and the auctioneer expressly reserve the right to make any declaration, before the opening of the sale or prior to the auctioning of the lot, constituting modifications, descriptions, declarations, references to the catalog or of the present general conditions of the sale, these modifications will be binding on the bidder.
16.5 The bailiff will inform the bidders, before the sale begins, the conditions of the auctions and in particular the additional costs to be incurred.
16.6 The bailiff may accept bids from any person present in the room. He may also take orders from bidders, who are not present as soon as they have been given to the agents of the auctioneer by telephone, fax, telex or any other civil order and approved by the organizer and the bailiff. In no case can the bailiff be held responsible in case of negligence, error or any fault in the execution of orders received. In any case, the auctioneer and the bailiff cannot be held responsible for the non-performance for any reason whatsoever, of an order that would have reached them.
17. Auctions
17.1 The auctions are made in Euros. The auctioneer reserves the right to install a currency conversion table but disclaims any liability in the event of failure or display error. only the amount of the last bid as expressed by bailiff should be taken into consideration. The auctioneer also reserves the right to organize a simultaneous translation service. The responsibility of the auctioneer cannot be sought because of the deficiency of this system of translation and only the amount of the last bid as expressed by the bailiff will be taken into consideration.
17.2 Any bidder will be considered and presumed to have acted on his own account, unless, before the sale, he has expressly informed the auctioneer, in writing, that he was acting on behalf of a third party and that third party has been approved by the auctioneer.
17.3 In the event of a dispute by this third party, the bidder and the third party will both be considered responsible for the auction.
18. Adjudication
18.1 The highest bidder and the last bidder accepted by the bailiff will be declared successful bidder, he will have the obligation to pay cash according to the terms hereafter exposed.
18.2 At the time of the auction, the buyer must immediately inform the auctioneer of the number assigned to him. The auctioneer or the bailiff expressly reserves the right in their sole discretion to immediately put back on sale lot without recourse possible of the last bidder.
18.3 In the event of a dispute, the public officer who is the bailiff has the right to resolve the sale and immediately return the lot concerned to auction.
18.4 In addition to the auction, the buyer must pay a premium of the final auction 25% and VAT (20% on the premium) if applicable.
18.5 For users of the Antiquorum auction platform, there will be no additional fees.
For users of the drouot Live auction platform, there will be no extra charge
For users of the auction platform Auction.fr, additional fees (3% of the hammer price) will be charged.
For users of the Invaluable auction platform, additional fees (5% of the hammer price) will be charged.
19. VAT for non-European buyers
Non-European buyers will receive the VAT invoice directly under certain conditions: the item must be shipped outside Europe within 1 months from the date of sale and Boule Auctions SARL must appear as sender on the export document and the buyer as consignee. The export must be made within the legal deadlines and at most 1 months from the date of the sale.
20. Payment
20.1 The hammer price and the additional costs shall be paid immediately, the seller however confers on the auctioneer and the bailiff the right to grant at their discretion, the opportunity to pay the price of the hammer and additional fees mentioned above by bank check, transfer to the bank account of Boule Auctions, by credit card Mastercard or Visa for a fee of 1% or in cash within the limits of Monegasque law. In any case, the payment must imperatively intervene no later than 12h00 of the first working day after the sale with the Monegasque bank of Boule. For credit card buyers, a delivery time of 3 to 7 business days may apply to allow additional checks.
20.2 In the event of non-performance or partial performance of the obligations placed on the buyer under these conditions and in particular in case of non-payment of price and costs or in case of partial payment within the 24 hours following the sale, if the lot has not been immediately put on sale during the relevant vacation, the auctioneer reserves the right in its sole discretion to exercise the following rights and actions:
-Cancel the auction without recovering to a judicial proceeding and remove the object of said sale.
-Apply as indemnity and final penalty clause a percentage of 0.5% per day late on the price or fraction of the price and unpaid fees until full payment
-Reclaim compensatory damages which must cover not only any loss arising from the resale of the lot in question, but also the costs relating to this resale, as well as the damage suffered by the auctioneer.
- Fix on the amount of the sums due by the purchaser an interest at the rate of 16% per year
-Pay the compensation between the amount of the sums due by the buyer with any sums held or that would come to be by the auctioneer and on behalf of the buyer.
20. Transfer of ownership
The transfer of ownership of the lot to the benefit of the buyer will take place only after full payment of the hammer price and additional fees mentioned above. However, as soon as the hammer is auctioned, all the risks relating to the lot will be transferred to the auction in their entirety and without the slightest reservation.
21. Responsibilities of the buyer
21.1 Without limitation, the successful buyer shall be solely responsible for the loss, theft or destruction, in whole or in part, or any damage that may occur between the auction and the transfer of ownership after full payment of the hammer price and additional costs.
21.2 The successful bidder shall be required to proceed at his own expense to the withdrawal of the lot of which he will become the owner within 48 hours from the date of the adjudication.
21.3 Likewise, the successful bidder shall be responsible for all warehouse and insurance costs advanced by the auctioneer for the period between the auction and the payment of the price and fees (transfer of ownership).
21.4 It shall be the responsibility of the buyer of a lot to carry out all the necessary formalities of any kind whatsoever, in accordance with the legislation in force, both in Monaco and the country of the buyer. Since the successful buyer is presumed to know this legislation, in no event shall the auctioneer or the bailiff be held liable for the contractor's non-compliance with the said formalities.
21.5
In the event of the buyer not withdrawing the lots within the period provided for in article 21.2, the auctioneer reserves the right to proceed with the withdrawal of the lots at the expense and risk of the buyer and to send them to the buyers. same conditions in any other country that the buyer has indicated.
22. Catalog descriptions
The descriptions and information appearing on the catalog are given only for information purposes, the auctioneer and bailiff do not guarantee its accuracy. The sale of the lots is done at the risk of the purchaser without guarantee of the description, the origin, the time, the age, the origin, the authenticity or the hidden defects. The lots are sold in the state where they are at the time of the sale and no recourse can be exerted against the bailiff, the auctioneer, for imperfections or latent defects affecting the lot to be adjudged, whatever the importance imperfection or vice. It will be up to prospective bidders, prior to the auction, during the public exhibition of the lots offered for sale, to check the condition, quality and authenticity of the lots.
23. Specificities for watchmaking
Unless otherwise specified, watches are not guaranteed waterproof. Collectible watches are sold in the state.
24. Exporting lots
Since Monaco is part of the French Customs Union, exports outside Monaco are subject to the same regulations as those in France. Any lot coming from the customs union or beneficiary of the temporary importation regime if it remains in the customs union may be removed on presentation of the purchase price receipt. If, on the other hand, the successful bidder intends to export the lot outside the customs union, he will, under his sole responsibility, carry out all the formalities and formalities required by the law in force. In any case, the auctioneer or the bailiff cannot be sought for non-compliance or completion of said formalities.
25. Mandate of the auctioneer
The auctioneer happens to have the quality of agent of his seller who will have authorized him to sell one or more lots. In this capacity, neither the auctioneer nor the bailiff will be parties to the contract binding their seller, to the purchaser; the responsibility of the auctioneer or the bailiff cannot therefore be sought if one of the parties to this contract does not perform any of its obligations.
26. Right of pre-emption
The French State has the possibility to use the right of pre-emption on the works of art presented at the auction, by order of the Minister responsible for culture after the hammer blow. The State has a period of 15 days from the date of the sale to confirm its right of pre-emption. In case of confirmation, the French State will be subrogated in the position of the buyer.
27. Regulation Cites
The documents provided by the auctioneer for CITES articles of the species listed in Annexes A, B or C of Regulation EC338 / 97 are only valid in the EU. All exits to a third country are subject to an export or re-export permit issued by the CITES Management Authority in the country of residence of the buyer. We advise you to contact the CITES Management Authority of the country of destination to confirm the possibility of importing such items. Some countries may prohibit the importation of certain items in accordance with their own legislation. These actions must be undertaken by the buyer and at his expense. Contact the auctioneer for more information.
28. Import / export restrictions
Buyers are advised that we will remove watchbands made of materials derived from endangered or otherwise protected species (alligator, caiman, lizard, snake, etc.) prior to consignment shipment abroad. Buyers are responsible for compliance with all applicable export and import regulations. In addition, some tortoiseshell and ivory articles may be subject to import restrictions in some countries.
Please consult local customs authorities for more information on importing articles made from these materials. The buyer is responsible for the payment of all import and export duties and taxes applicable to the purchased batches.
29. Jurisdiction
The sale and these conditions are expressly governed by Monaco law. Any dispute relating to the sale or to these conditions will be subject to the jurisdiction of the Monaco courts. In the event of a conflict between the French version and the foreign language versions of the conditions, the French version will prevail.
