Paul De Grande Collection: Day 1

Sale terms - The sale is conducted by: Rob Michiels Auctions AARM bv Address: Genthof 9, 8000 Brugge, Belgium VAT: BE 0568.546.989 Tel.: +32(0)50 343603 E-mail: info@rm-auctions.com - Sales are conducted by auction according to the Belgian law. - All sales are final and irrevocable. Cancellations and/or refunds are impossible. - Payments for lots purchased are expected within 5 working days after the last day of auction. Invoices remaining unpaid or only partly paid, 30 calendar days after the auction, will be subject to the following late payment interest fees: On day 31: Administrative fee of 25 Euro per lot and a late payment fee of 1.5% of the total invoice amount. Per additional 14 calendar days: an additional late payment fee of 1.5% of the total invoice amount. These fees do not cover storage fees, which are explained further in this document. - According to Belgian anti-money laundering laws, amounts from 3.000 Euro onwards can not be settled by cash payments. - Bidding increments are: 0-100 Euro: + 10 Euro 100-1000 Euro: + 50 Euro 1000-2000 Euro: + 100 Euro 2000-5000 Euro: + 200 Euro 5000-20000 Euro: + 500 Euro 20000-50000 Euro: + 2000 Euro 50000-200000 Euro: + 5000 Euro + 100000 Euro: + 10000 Euro Alterations of the bidding increments are possible at the auctioneer's discretion. - Commission bids or absentee bids which don't comply with these increments will be rounded up or down to the nearest bid amount following these increments. This means that, for example, a bid of 1240 Euro will be rounded down to 1200 Euro and a bid of 1250 Euro will be rounded up tot 1300 Euro. - Sales commission is 30%, all taxes included. This means that the final price to be paid will be the hammer price plus 30% of the hammer price. However, invoices paid by bank transfer, European debit card or cash (up to ?2.999 Euro), within 14 days after the auction (payments reaching us by the 15th alendar day after the last auction day), will be subject to the premium rate of 27.5%. For lots exceeding 50.000 Euro, the buyer?s premium on the excess above 50.000 will be lowered to 20%. On this lowered premium, no discounts can be applied. - External partners allowing their clients to bid with us, may charge a fee for this, which will then be added to our sales commission. These fees vary per partner and are subject to change at the partner's discretion. We have no influence on this and payments not including this fee will be seen as incomplete. - Goods are sold "as is" at the moment of adjudication. - All statements made by the auctioneer, be it in writing, digitally or orally, are not to be relied on as statements of fact. They are only an opinion, given to the best of our knowledge and are for guidance only. The buyer is due to verify the condition of the goods by personal inspection. On request every opportunity will be provided to conduct additional expertise as long as the goods are not damaged. As a result, after the adjudication no complaint will be accepted. - Anyone damaging goods during viewing days or at any other moment, is obliged to inform us. Failure to do so may result in legal action. Should the auctioneer deem compensation necessary, the amount will be set at the high estimate multiplied by 1.275. - After adjudication the buyer is responsible for his/her purchases. The auctioneer will guard and store the items(s) to the best of his ability but can not be held liable for any damage occurred after adjudication. During the auction goods can not be collected. - Every buyer needs to provide identification. A bidding number can be acquired during the viewing days and before the auction. During the auction this is also possible through the front desk. However, we strongly advise acquisition of said number before the auction to allow a smooth auction process. Identification measures include but are not necessarily limited to: requesting a copy of your passport or identity document, a transcription of your personal contact details. Your personal details will not be shared with third parties, can be consulted at your request and may be removed from our database on simple request. - Each person is assumed to bid on his own account. Bids are binding contracts. In default of payment, liability to another person will not be accepted. - Any dispute occurring during the auction can only be resolved by the acting bailiff/notary. His or her decision is definite and irrevocable. He may decide to recall any lot, cancel any adjudication, during or even after the sale, for whichever reason. His word is final. -The international rules on copyright law (droit de suite) oblige us to require an extra premium on the hammer price of original works of art made by still living artists, or within seventy years after his or her decease. The premium is required only on hammer prices from ?2.000. The amounts required are: 4% on the total sum up to ?50.000 3% on the amount from ?50000,01 up to ?200000 1% on the amount from ?200000,01 up to ?350000 0.5% on the amount from ?350.000,01 up to ?500000 0.25% on the amount from ?500000 The maximum amount of the right should not exceed ?12500. Even in the unlikely event where this resale right was not charged to the buyer, he will still be obliged to pay this premium up to 5 years after the sale. All info on Resale rights in Belgium can be found on www.resaleright.be - Collection of purchases is only possible after the auctioneer has received full payment. Collection dates will be announced individually per auction and are also available on request. It is the buyer's duty to inquire about collection options. Goods not collected within 14 calendar days, counted from and including the first day after the sale day on which the item was sold, will be subject to a storage fee of 1,5 Euro per item per day, even if the payment is completed in full, unless other arrangements have been made to our satisfaction. - We accept payments by means of: Cash (under ?3.000) Bank transfer of the full amount, indicating the invoice number in the commentary section. Any and all fees should be handled by the sender, on this bank account: Beneficiary: AARM bv Beneficiary address: Genthof 9, 8000 Bruges, Belgium Bank: BNP Paribas Fortis Bank address: Vlamingstraat 78, 8000 Bruges, Belgium IBAN: BE48001746875727 BIC: GEBABEBB Credit and debit card payments, as well as Unionpay payments, can be accepted with the cardholder present in our rooms. Most credit and debit cards can also be accepted online, on our payment page. Credit card payments with cards issued outside the EU are subject to a 2.5% surcharge. Bidders using a third-party platform to submit their bids and have registered cards with the platform, may be charged through this third-party platform within 4 working days after the auction. - We can also assist you in obtaining shipping quotes for most purchases. There is a list of recommended shippers available and we will do what we can to facilitate their work. Weighs and sizes will be made available where necessary. - Both foreign and national buyers who can't be present during the auction, can bid by telephone or bid live online on our website or through one of our third party partners. As we can not guarantee the proper functioning of available communication channels, we strongly suggest to also send in a back-up absentee bid, or book a telephone line and arrange for online bidding simultaneously. - Foreign buyers will need to identify themselves in full at least 24 hours before the auction. If necessary, a bank guarantee or deposit will be requested which will serve as a guarantee in case of non-payment. Failure to provide requested bank guarantees or deposits may result in the non-acceptance of any bids. - The auctioneer can not be held responsible in case of disfunctioning of the available communication channels and any consequences related to this, nor from unavailability on the bidders' side. - Professionals are required to identify themselves as such and disclose their business details when bidding or requesting a bid number. - In case of non-payment the lots may be put up for sale in a later sale. The non-paying bidder will be obliged to reimburse the difference in case of a lower hammer price, according to Belgian law. He will not have any claims over the possible difference above the original hammer price. He will also need to cover all costs related to the re-offering. - Every buyer is supposed to know and comply with the import regulations of his or her country of destination. The auction house can not be held responsable for any problems arising with the export of certain goods, be they legal or illegal in any country. - Every buyer and seller is supposed to know the current regulations regarding the sale or exposition of animals or wildlife species, such as, but not limited to, ivory, minerals, gems, rhino horn, bone, taxidermy, ... but also for works of art partially consisting of such material. The auction house denies any responsability in regard to possible seizure, destruction or penalties imposed by Belgian or foreign governments. The full 100% responsability for any issue arising lies with the consignor-seller and/or bidder-buyer. - By taking part in our sales any person agrees to these condition, be it directly through us or through one of our partners which allow bidders to bid with us. - The auction house reserves the right to refuse bidders or to request a deposit from certain bidders. Deposits will be deducted from payable invoices for winning bidders or completely refunded within 10 working days following the auction, in case of a non-winning bidder. - VAT on commission is refundable only from a minimal amount of 250 Euro (for invoices of 5300 Euro hammer price and more). Special paperwork is required and may take up to 5 working days to establish. The fee for this service is 200 Euro per invoice. A VAT-refund is possible exclusively for non-EU buyers. - Every participant to our sales is supposed to be aware of and comply with these conditions. - Any arising dispute shall only be governed by the Belgian law and only the justice court in Bruges, Belgium, can deal with these disputes. Payments - We accept payments by means of: Cash (under ?3.000) Bank transfer of the full amount, indicating the invoice number in the commentary section. Any and all fees should be handled by the sender, on this bank account: Beneficiary: AARM bv Beneficiary address: Genthof 9, 8000 Bruges, Belgium Bank: BNP Paribas Fortis Bank address: Vlamingstraat 78, 8000 Bruges, Belgium IBAN: BE48001746875727 BIC: GEBABEBB Credit and debit card payments, as well as Unionpay payments, can be accepted with the cardholder present in our rooms. Most credit and debit cards can also be accepted online, on our payment page. Credit card payments with cards issued outside the EU are subject to a 2.5% surcharge. Bidders using a third-party platform to submit their bids and have registered cards with the platform, may be charged through this third-party platform within 4 working days after the auction. - Payments for lots purchased are expected within 5 working days after the last day of auction. Invoices remaining unpaid or only partly paid, 30 calendar days after the auction, will be subject to the following late payment interest fees: On day 31: Administrative fee of 25 Euro per lot and a late payment fee of 1.5% of the total invoice amount. Per additional 14 calendar days: an additional late payment fee of 1.5% of the total invoice amount. These fees do not cover storage fees, which are explained below. - Collection of purchases is only possible after the auctioneer has received full payment. Collection dates will be announced individually per auction and are also available on request. It is the buyer's duty to inquire about collection options. Goods not collected within 14 calendar days, counted from and including the first day after the sale day on which the item was sold, will be subject to a storage fee of 1,5 Euro per item per day, even if the payment is completed in full, unless other arrangements have been made to our satisfaction. Shipping We can assist you in obtaining shipping quotes for most purchases. Weights and sizes will be made available where necessary. VAT VAT on commission is refundable only from a minimal amount of 250 Euro (for invoices of 5300 Euro hammer price and more). Special paperwork is required and may take up to 5 working days to establish. The fee for this service is 200 Euro per invoice. A VAT-refund is possible exclusively for non-EU buyers.

Invoices paid by bank transfer, European debit card or cash (up to €2.999), within 14 days after the auction (payments reaching us by the 15th calendar day after the last auction day), will be subject to the premium rate of 27.5%.

The absence of a condition report does not imply that a lot is in perfect condition. Please contact us to let us know which lots are of interest, so we can make the requested reports for you. Once complete, they will be published on our website. High resolution pictures are already available on our website at www.rm-auctions.com. Further questions are always welcome at info@rm-auctions.com