Terms of sale

AUCTION SALES

The sale will be made in cash and conducted in euros (€). The buyers will pay in addition to the auctions the following costs: 29% incl. This sum was calculated by batches and by slices. Payment for purchases, as well as any applicable taxes, may be made in euros exclusively to LOUIZA AUKTION & ASSOCIES. Bank: KBC Bank - Place Stéphanie, 6-1050 Brussels. Account number: 734-0282483-28 IBAN: BE37 7340 2824 8328 - SWIFT: KREDBEBB.

Lots in temporary importation are subject to an additional VAT of 6% (lots marked with •). For lots for which the seller is a non-resident, the successful tenderer will pay a VAT of 21% and 6% (lots marked with •), in addition of the auction, plus legal fees. For works on which the droit de suite will be applicable, the purchaser will have to pay in addition to the adjudication and additional legal costs 4% 1). For any information concerning the works subject to the resale right, it will be possible for the purchaser to inquire with LOUIZA AUKTION & ASSOCIES before the sale.

SCOPE

These conditions apply to all auctions and private sales concluded other than auctions organized by LOUIZA AUKTION & ASSOCIES. Participation in auctions implies unconditional acceptance of these conditions.

AUCTION

The auctions follow the order of the catalog numbers. LOUIZA AUKTION & ASSOCIES reserves the right to set the order of progression of the auctions and the bidders undertake to comply with it. The highest and last bidder will be the successful bidder. In the event of a dispute or an error in the adjudication, the lot will be resold. The acting bailiff will rule on any difficulty that may arise regarding the auction during the sale.

PURCHASE ORDER BY PHONE AUCTION

Any bidder who wishes to make an offer to purchase in writing or to bid by telephone can use the form provided for this purpose at the end of the sales catalog. This document must arrive at the latest two days before the sale, accompanied by the bank details of the bidder. Telephone auctions are a complimentary service to customers. LOUIZA AUKTION & ASSOCIES cannot be held responsible for a telephone connection problem.

RISKS AND OWNERSHIP

All formalities and transport remain the sole responsibility of the purchaser upon adjudication. In the event of payment by check or by bank transfer, the delivery of the objects may be deferred until full payment has been received, the purchaser only becoming the owner at the time of this collection. The purchaser will himself be responsible for ensuring his acquisitions. LOUIZA AUKTION & ASSOCIES declines any responsibility for the damage that the object could incur and this from the pronounced acquisition.

WITHDRAWAL OF PURCHASES

Transport costs are payable and under the responsibility of the purchaser. All formalities and transport remain the responsibility of the purchaser in the event of export outside the European Union, the purchaser undertakes to bear the financial consequences which could result for LOUIZA AUKTION & ASSOCIATES from this export. It also undertakes to submit a bank check as security covering the VAT which may be claimed from LOUIZA AUKTION & ASSOCIÉS in the event that the export documents are not provided to it by the purchaser. The buyer is required to take delivery of the lots awarded to him within 8 working days following the sale. After this period, LOUIZA AUKTION & ASSOCIATES reserve the right, without prior notice, to have paid for and not collected lots transferred to furniture storage at the buyer's expense and risk. After 3 months, these lots may be sold without prior notice to clear the buyer's charges; in this case, the price will be paid in the name of Louiza Auktion, less the costs borne by the buyer, the costs of resale and any difference in price. After 6 months, these lots paid for and not withdrawn, will be resold without prior notice, for the sole benefit of the LOUIZA AUKTION & ASSOCIÉS auction house. It will be the same for the lots deposited by the sellers and not recovered within 6 months after the first sale.

LATE PAYMENT

Any sum not paid within 30 days after the auction bears default interest as of right and without prior notice at the rate of 1% per month. In addition, in the event of non-payment on the due date, the amounts due are automatically increased by a lump sum indemnity of 15%. Without prejudice to the pursuit of payment at the expense of the defaulting purchaser. Lots unpaid within 8 working days following the auction may be adjudicated on a wild auction without prior formal notice; in this case the defaulting buyer will be required to pay any difference in price as well as all costs and disbursements relating to sales necessary to be able to re-award the lot and may not claim the excess if there is any.

RESPONSIBILITY

The indications appearing in all the catalogues, advertisements, brochures or any other writings issued by LOUIZA AUKTION & ASSOCIES must be considered as simple indications which in no way engage its responsibility. This does not guarantee the accuracy of a claim relating to the author, the origin, the date, the age, the attribution, the provenance, the weight, the dimensions, the state of the material of the batch. No employee is authorized to give guarantees in this respect. Consequently, buyers must ensure themselves, before the sale, the nature of the lots and their material condition. Detailed information on the condition of the lots described by the experts and the auction house is available to buyers who request it.

CLAIMS

Any complaint must, under penalty of forfeiture, reach LOUIZA AUKTION & ASSOCIÉS by registered letter within 10 days of the object's withdrawal. However, for sales subject to Article 1649 of the Civil Code, the seller is liable to the consumer for any lack of conformity which exists during the delivery of the goods and which appears within a period of one year from the date of delivery. The purchaser being required, on pain of forfeiture, to inform the seller of the existence of a lack of conformity within 2 months from the day on which the purchaser noticed the defect.

JURISDICTION AND APPLICABLE LAW

Auctions including the conduct of auctions are subject to Belgian law. Any dispute relating to their validity, interpretation, execution or dissolution will fall under the exclusive jurisdiction of the courts of the district of Brussels. 1) Resale right. The resale right is calculated on the sales price excluding tax as long as it reaches at least € 2,000. It is calculated as follows: 4% for the portion of the sale price up to € 50,000, 3% for the portion between 50,000 and 200,000 €, 0.25% for the portion of the sale price exceeding 500,000 euros. However, the total amount of the fee may not exceed 12,500 euros per work. (Law of 04/12/2006 and RD of 02/08/2007)