May Painting and Sculpture

1.- SUBASTAS SEGRE S.L. will appoint an auctioneer responsible for the auction direction. The lots will be for the highest bidder, being the auctioneer, in case of doubt about the bidder or the closing price, the one who considers with no appeal, being even able to proceed with the auction again. Also, the auctioneer will be able not to take into account the bids made by people whose solvency has not been properly credited. 2.- The buyer will have to pay a 16% commission on the closing price increased in the VAT corresponding to this percentage 3.- The bids will be increased according to the following scale: Bids till 100 Euros will be increased by steps of 5 Euros. Bids between 100 and 200 Euros will be increased by steps of 10 Euros. Bids between 200 and 500 Euros will be increased by steps of 20 Euros. Bids between 500 and 1.000 Euros will be increased by steps of 50 Euros. Bids between 1.000 and 2.000 Euros will be increased by steps of 100 Euros. Bids between 2.000 and 5.000 Euros will be increased by steps of 200 Euros. Bids between 5.000 and 10.000 Euros will be increased by steps of 500 Euros. Bids between 10.000 and 20.000 Euros will be increased by steps of 1.000 Euros. Bids between 20.000 and 50.000 Euros will be increased by steps of 2.000 Euros. Bids over 50.000 Euros will be increased by steps of 5.000 Euros or according to the auctioneer's judgement. 4.- Buyers will also be able to make their offers in writing, using the forms SUBASTAS SEGRE S.L. will make available for this purpose. The auctioneer will defend the offer till the expressed limit, trying to adjudge the offered lot in the lowest possible price. Between two or more written bids offering the same amount for the same lot , the oldest one will have priority as well as the written bids have priority before the ones made in auction. 5.- It will also be possible to bid by telephone having established it before with SUBASTAS SEGRE S.L. The fact of asking for a telephone bid, implicates the desire of covering the starting price. Once the communication has been established it will be, anyway, as if the buyer was in the room. In case of bad or interrupted communications SUBASTAS SEGRE S.L. is not responsible for it and it is its right to cover, in the buyer's name, the starting price of the lot for which the phone bidding was requested. 6.- Payment is due immediately after the sale by following methods: cash and Banker's Draft. Wire tranfer: BANKIA, Paseo de la Castellana 95. Edificio Torre Europa 28046 Madrid IBAN: ES28 2038 1852 38 6000836086 Nº de cuenta: 2038 1852 38 6000836086 SWIFT: CAHMESMMXXX For payments made in any currency with variable exchange rate accepted by SUBASTAS SEGRE S.L. the exchange rate of the day in which the payment is made will apply. If this one comes from abroad, it should be made by banker 7.- Data and descriptions showed in the catalogues are the result of the researches and knowledge of experts in SUBASTAS SEGRE S.L., who try to make easy the buyers selection, being data accuracy out of their responsibility. The lots will be available for their examination during the previous exhibition to auction, where the buyers will be able to form their own opinion. In the same way, SUBASTAS SEGRE S.L. will not either accept claims of flaws, restorations,etc., already existing during the object exhibition, although they have not been described in the catalogue. 8- The buyer will have to pay and remove the lots acquired by him in a later term of 7 working days, owing 6 daily Euros for storage once the term has finished. If the buyer has not paid and removed the lots thirty working days after the auction date, SUBASTAS SEGRE S.L. may consider the sale as finished without prejudicing the legal actions to be taken in a situation like this. 9.- If the buyer requests the sending of the lot or the ones acquired by him, the expenses for packing and dispatch will be charged to him. If he wishes to get an insurance covering this sending, he will have to communicate and pay it before to SUBASTAS SEGRE S.L., since without this requisite the insurance will not be considered formalized.