Magnificent Jewels

STANDARD TERMS & CONDITIONS 1 APPLICABLE TERMS AND CONDITIONS Each lot in this Catalogue will be offered for sale subject to the terms and conditions set forth below, as changed or supplemented by provisions (i) written in other places in this Catalogue, (ii) written in supplements to this Catalogue or other written material prepared by us, and/or (iii) as stated by the auctioneer or posted in writing at the time of auction, prior to a bid being accepted for the lot. In offering property for sale, we are acting solely as agent for the consignor, unless otherwise indicated in this Catalogue or at the time of auction. By bidding at the auction, whether in person, through an agent, by written bid, by telephone bid, or by other means, the buyer and all bidders agree to be bound by these terms and conditions, as changed or supplemented as provided in this paragraph. 2 DEFINITIONS The use of “we,” “us,” “our” or “PHILLIPS, de PURY & COMPANY” in this Catalogue refers to Phillips Son & Neale Auctions, Ltd., a United Kindom corporation d/b/a PHILLIPS, de PURY & COMPANY, through a New York branch, and the use of “buyer” refers to the person or entity buying property at the auction or at a private sale. “Standard Terms and Conditions” refers to these terms and conditions, as changed or supplemented in the ways mentioned in Paragraph 1 above. The “consignor” refers to the seller(s) and any party(ies), acting as agent for the seller(s) in consigning the Property to us for sale. A “lot” refers to the lot in which Property is grouped by us. “Property” refers to each item of property listed for sale at auction or by private sale. The “reserve” refers to the minimum price at which the Property is to be sold, and does not include commissions or taxes, if any. 3 WARRANTY INFORMATION; BUYER’S REMEDIES Limited Warranty; Sole Remedy: The authorship of fine art is warranted only as set forth in the Authorship Warranty appearing in this Catalogue. The meaning of “fine art” and “authorship” is also set forth in the Authorship Warranty. Buyer’s sole rights and remedy for any nonconformity shall be as expressly set forth in the Authorship Warranty and as provided in this Paragraph 3, whether the claim arises in contract, warranty, tort, negligence, strict liability or otherwise. Disclaimer of Warranties: Except for rights that the buyer receives under the Authorship Warranty, (i) all Property is sold “AS-IS, WHERE-IS AND WITH ALL FAULTS,” and neither we nor the consignor make any guarantees, warranties or representations, express or implied, with respect to the Property, except as to warranty of title. All implied warranties of MERCHANTABILITY and FITNESS FOR PURPOSE ARE SPECIFICALLY DISCLAIMED by us and the consignor; (ii) specifically, neither we nor the consignor make any representation or warranty of any kind, express or implied, with respect to any of the following characteristics of the Property: age, authenticity, genuineness, attribution, provenance, origin, physical condition, importance, size, quality, quantity, rarity, value, exhibitions, historical references or significance, medium, material, period, culture, source or origin; (iii) all information in the Catalogue or elsewhere, concerning the characteristics mentioned in (ii) above, is offered to bidders as a statement of opinion only. It is not intended to contain statements of fact for which we or the consignor may be held liable. This disclaimer of liability on our part applies whether the information is included in the Catalogue, advertisements, announcements, or communicated through our representatives, bills of sale or elsewhere, and whether written or oral; and (iv) neither we, nor the consignor, shall be responsible for the correctness or accuracy of descriptions or other information in this Catalogue or elsewhere. The bidder assumes the full responsibility to inspect and evaluate the Property to its, his or her complete satisfaction prior to any purchase. The bidder must make an independent judgment about (a) the Property, (b) its value, and (c) descriptions or other information about the Property. We may, without in any way diminishing our disclaimers of liability contained in this Paragraph 3 and elsewhere, mention in the description of the lot significant damage, although this does not include all faults, imperfections and restorations. In addition, all measurements stated in the Catalogue are approximate. No Warranty of Reproduction: Neither we nor the consignor make any warranty or representation, express or implied, concerning any rights of copyright or reproduction in, to or of the Property. Price Estimates: The estimates provided in the Catalogue are merely our opinion of the price that a willing buyer would pay for the Property at auction. The actual price that might be realized at auction or upon resale of the Property may be substantially different from these estimates. We shall not be liable in any way for such a difference. Remedies for Breach of any Warranty: If there is any breach of a warranty, buyer’s sole remedy shall be to rescind the sale and receive a refund of the purchase price, including the buyer’s premium. This means that neither we, nor the consignor, shall have any liability for other damages, such as but not limited to, direct, indirect, special, incidental or consequential damages. No refund will be made until the Property is returned at buyer’s expense to the premises of PHILLIPS, de PURY & COMPANY where the Property was purchased, in the same condition as at the time of sale. We act only as agent for the consignor and make no independent warranty of any kind. Nothing in this Paragraph 3 is intended to exclude any warranty of title required to be given under the Regulations of the New York City Department of Consumer Affairs. 4 THE AUCTION Bidding by Paddle: All persons attending the auction must obtain a bidder’s paddle prior to bidding. The bidder must qualify to bid and may be asked to provide a financial reference. The Auctioneer may refuse to recognize any person without a bidder’s paddle. If you are not able to attend the auction you may submit an Absentee Bid. Absentee Bids: As a convenience to buyers who cannot attend a sale in person, we may, if so instructed, execute written absentee bids on a buyer’s behalf, without additional cost. Absentee bidders are required to submit bids on the “Absentee Bid Form,” a copy of which is inserted into the Catalogue or otherwise available from us. The buyer must clearly indicate the maximum amount buyer intends to bid, excluding the buyer’s premium. “Buy” bids will not be accepted. For bidders requesting the opportunity to bid by telephone, we reserve the right to have a completed telephone bid form on file prior to any such bidding. We also reserve the right to require written confirmation of a successful bid from the telephone bidder, by fax or otherwise, immediately after such bid is accepted by the Auctioneer. Telephone bids may be recorded, and by bidding on the telephone, bidder consents to a recording of the conversation. Absentee bids, whether written, executed by telephone, or otherwise, is an accommodation for the buyer, and we will not be liable for errors, omissions or failure to execute bids. Lots are bought for absentee bidders at the lowest possible price permitted against other bidders and the reserve. Employee Bidding: Employees of PHILLIPS, de PURY & COMPANY, including an auctioneer, may bid at the auction through absentee bids so long as they do not know the reserve and otherwise comply with PHILLIPS, de PURY & COMPANY’s employee bidding procedures. Bidding Intervals: For your convenience, bidding generally commences at an increment below the low estimate and may proceed at the following intervals: $1,000-3,000 by $100; $3,000-$5,000 by $250; $5,000- $30,000 by $1,000; $30,000 onward, at Auctioneer’s discretion. Auctioneer Announcements: All terms, conditions, notices, descriptions, statements and other matters in the Catalogue and elsewhere concerning any lot may be changed or added to by the Auctioneer, prior to any bid being accepted for the lot. RESERVES: ALL LOTS ARE OFFERED SUBJECT TO A RESERVE UNLESS OTHERWISE INDICATED BY THE SYMBOL •. WE (OR THE AUCTIONEER) MAY IMPLEMENT THE RESERVE BY BIDDING ON BEHALF OF THE CONSIGNOR AT THE AUCTION. THIS MEANS THAT WE (OR THE AUCTIONEER) MAY OPEN THE BIDDING ON ANY LOT BY PLACING A BID ON BEHALF OF THE CONSIGNOR. WE OR THE AUCTIONEER MAY FURTHER BID ON BEHALF OF THE CONSIGNOR BY PLACING SUCCESSIVE OR CONSECUTIVE BIDS FOR A LOT, OR BY PLACING BIDS IN RESPONSE TO OTHER BIDDERS UP TO THE AMOUNT OF THE RESERVE. THE RESERVE, WHICH IS CONFIDENTIAL, IS DETERMINED BY AGREEMENT WITH THE CONSIGNOR AND MAY EQUAL, BUT WILL NOT EXCEED, THE LOW ESTIMATE OF THE LOT. IF WE HAVE AN INTEREST IN A LOT OTHER THAN OUR COMMISSION, WE MAY BID UP TO THE RESERVE TO PROTECT SUCH INTEREST. Sale to the Highest Bidder: A lot shall be sold to the highest bidder determined by the Auctioneer, subject to the terms and conditions of sale. Title to the lot shall pass upon the fall of the Auctioneer’s hammer. The buyer shall be obligated to pay the purchase price, including buyer’s premium and applicable taxes, as set forth in the terms and conditions. Upon title passing to buyer, buyer assumes all risk of loss and damage to the Property and all responsibility with respect to the Property, such as but not limited to the obligations, costs and expenses for handling, shipping, insurance, taxes and export of the Property. Discretion: The Auctioneer has the right to: (i) reject any bid, (ii) refuse to acknowledge any bidder, (iii) challenge bids, (iv) withdraw a lot from sale or pass the lot, (v) reject any advance in the bidding if the Auctioneer deems it insufficient, and (vi) otherwise regulate the bidding and its increments. In the event of a dispute between bidders, the Auctioneer has the absolute right to determine the successful bidder or to re-offer the lot in dispute. If any dispute arises after the sale, PHILLIPS, de PURY & COMPANY’s sales records shall be deemed conclusive. We also reserve the right to divide any lot and to combine any two or more lots. The discretion of the Auctioneer as described in this Paragraph 4 may be fully exercised in the absolute discretion of either PHILLIPS, de PURY & COMPANY or the Auctioneer, without liability of any kind on the part of PHILLIPS, de PURY & COMPANY or the Auctioneer. 5 PURCHASE AND PAYMENT Purchase Price; Buyer’s Premium; Taxes: The purchase price to buyer for the lot shall be (i) the amount of the successful bid price, plus (ii) a premium of 20% on the first $200,000 of the successful bid price, and 12% on any portion of the price which exceeds $200,000. In addition, buyer shall pay all applicable sales, use, excise and other taxes, whether federal, state or local. For U.S. dealers, only valid resale certificates will be accepted as proof of exemption. All foreign buyers should contact the Accounting Department about tax matters. Purchases will not be released to a buyer unless all tax requirements are satisfied. Payment for accommodation services, such as packing, handling, insurance, shipping or other services requested by the buyer, shall be made as provided in Paragraph 6 below. Payment: Buyers are required to pay for successful purchases immediately following the auction unless other arrangements are agreed to in writing in advance of the auction. All payments must be made in United States dollars. Acceptable payment options are as follows: (i) when paying in cash, payments should be made in person at the Client Accounting Desk at 450 West 15 Street during business hours. Proof of identity is required. Please note that PHILLIPS, de pury & company is obligated to report to the Department of Treasury any cash or cash equivalent in excess of $10,000. (ii) money orders, bank checks and personal checks are accepted with a valid driver’s license. Checks should be made payable to “PHILLIPS SON & NEALE AUCTIONS LIMITED” for the total amount due. If payment is made by mail, please send the checks to the attention of the Client Accounting Department at PHILLIPS, de PURY & COMPANY, 450 West 15 Street, New York, New York 10011 and ensure that the sale number is written on the check. We reserve the right to withhold delivery of the Property until funds represented by check have been collected or credited or the authenticity of bank or cashier’s checks has been determined. Payment will not be deemed to have been made until we have collected funds represented by checks or other instruments. Checks drawn by third parties will not be accepted. (iii) Payment in United States dollars by wire transfer may be sent directly to: JP Morgan Private Bank 500 Stanton Christiana Road Newark, DE 19713-2107 ABA routing: 021 000 021 SWIFT: CHASUS33 For the account of PHILLIPS SON & NEALE AUCTIONS LIMITED Account# 967 33 6813 Please reference the relevant sale number, lot number, and the buyer’s bid number. 6 REMOVAL OF PROPERTY; LATE CHARGES; WORK OF OTHERS Collection of Purchased Property. Details are located under the section titled Special Terms and Conditions. No purchase may be claimed or removed until it has been fully paid for, unless otherwise agreed to by PHILLIPS, de PURY & COMPANY in writing. All authorized lots should be removed at the purchaser’s risk and expense no later than 5:00 pm of the next business day after the sale. When full payment is received, the buyer will receive a “Collection Order.” This is buyer’s proof of payment and must be presented when collecting purchases. Storage and Late Payment Charges. After 35 days, an administrative fee of $45 and a storage fee of $5 per day per lot will be charged. We reserve the right to charge a late payment fee of 11⁄2% per month on the purchase price if payment is not received on time as provided in these Standard Terms and Conditions. We also reserve the right to place Property in public storage, in which case buyer shall be charged the amount of such storage and appropriate insurance, and other reasonable costs associated with storage of the Property. Accommodation Services: Any packing, handling, insurance, shipping or other services, which we agree to provide or arrange for, are recommended or furnished only as a courtesy to the buyer. All costs and risks associated with such services shall be fully assumed by the buyer. The costs of such services shall be paid in advance or promptly reimbursed to us, at our discretion. If assisted by PHILLIPS, de PURY & COMPANY in finding a fine art shipper for your Property, please note that PHILLIPS, de PURY & COMPANY shall not under any circumstances be liable for acts or omissions by shippers’ packers, handlers or others, even if their acts or omissions result in the loss of or damage to Property. Export and Import Matters: An export license issued by the U.S. Fish and Wildlife Service or other U.S. federal agency may be required for the export of any item made of or incorporating (irrespective of percentage) animal material, such as but not limited to, ivory, whalebone, rhinoceros horn or tortoiseshell. Bidders are advised that some countries completely prohibit the importation of property containing such materials. Accordingly, prior to bidding, bidders considering export of the Property should familiarize themselves with relevant export and import regulations of the countries concerned. It is solely the buyer’s responsibility to comply with these laws and to obtain any necessary export and import licenses. Failure to obtain a license or delay in doing so shall not constitute a basis for rescission or cancellation of a purchase or delay in making payment for a purchase. 7 BUYER’S BREACH Remedies Upon Buyer’s Breach: If buyer fails to comply with any of its obligations, buyer will be in default. In that case, the buyer will be liable for the full purchase price, including fees and charges. In addition, at our option we may (i) cancel the sale of the lot(s) on which buyer is in default and on all other lots sold to buyer, and keep all payments made by buyer as liquidated damages, (ii) resell the lot(s) at private or public sale, without reserve, and (iii) exercise any other rights given by law. In any event, we shall be entitled to recover from the defaulting buyer any amounts that remain due us on the purchase price, together with all fees and charges. We shall also be entitled to recover all damages, including costs of collection incurred in connection with buyer’s default. These costs of collection include, but are not limited to, handling charges, normal sales commissions and expenses (on both the sale for which buyer defaulted and on any resale), and reasonable attorneys’ fees and expenses. Security Interest: As security for full payment to us of all amounts due from buyer, PHILLIPS, de PURY & COMPANY retains, and the buyer grants to PHILLIPS, de PURY & COMPANY, a security interest in the Property purchased by buyer at auction and in any other property or money in our possession or coming into our possession. We may apply such money or deal with such property as the Uniform Commercial Code or other applicable law permits a secured creditor to do. This security interest shall cease upon actual physical delivery of the property to buyer or buyer’s agent. 8 PRIVATE SALES These Standard Terms and Conditions shall also apply to any private sale by us of Property. 9 RESCISSION BY US If an adverse claim is asserted with respect to Property purchased by a buyer, we shall have the right, but not the obligation, to rescind the sale. Upon notice of our election to rescind the sale, the buyer will promptly return the Property to our premises in the same condition as at the time of purchase. We will then refund the purchase price and buyer’s premium. The refund shall constitute the sole remedy and recourse of buyer against us and the consignor with respect to such claim. 10 Limitation of Liability We are acting as agent only in connection with sale of Property. We disclaim any responsibility for a breach or default by the consignor, except as specifically stated above. In no event will our liability for any breach, act or omission (including, but not limited to, any breach of the Authorship Warranty or any breach of a warranty of title) exceed the purchase price actually paid by buyer. BUYER AGREES THAT WE SHALL HAVE NO LIABILITY UNDER ANY CIRCUMSTANCES FOR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, whether in contract, warranty, tort, strict liability, negligence or otherwise, arising out of, resulting from, or relating in any way to (i) the Property or its purchase, sale, delivery or non-delivery, or (ii) the acts or omissions of us or our agents, representatives, affiliates, officers, directors or employees. 11 GOVERNING LAW; SUBMISSION TO JURISDICTION The laws of the State of New York (excluding its conflicts of law rules) shall be used to interpret the meaning of these Standard Terms and Conditions and the Authorship Warranty. By bidding at an auction or otherwise purchasing Property, whether personally or by an agent, and whether physically present at an auction or bidding by way of written, telephone, electronic or other bid means, BUYER CONSENTS TO THE JURISDICTION OF (I) THE STATE COURTS OF THE STATE OF NEW YORK LOCATED IN NEW YORK, NEW YORK, AND (II) THE FEDERAL COURTS FOR THE SOUTHERN AND EASTERN DISTRICTS OF NEW YORK. BUYER ALSO AGREES THAT ANY LAWSUIT BUYER MAY BRING AGAINST US WILL BE BROUGHT ONLY (I) IN THE STATE COURTS OF THE STATE OF NEW YORK LOCATED IN NEW YORK, NEW YORK, OR (II) IN A FEDERAL COURT FOR THE SOUTHERN OR EASTERN DISTRICTS OF NEW YORK. 12 WAIVER Any provision of the Standard Terms and Conditions and of the Authorship Warranty may be waived by us, provided that such waiver is in a writing signed by one of our duly authorized officers. A waiver on one occasion shall not be a waiver on any other occasion, nor shall any waiver of one provision affect our ability to insist on strict performance by buyer of all other provisions. 13 INFORMATION If you need further information or have any questions about these Standard Terms and Conditions, the Authorship Warranty or any other provisions applicable to a sale, please call us at +1 212 940 1200. 14 ART LOSS REGISTER All items advertised in this catalogue for sale by auction, have, insofar as they are uniquely identifiable from the description given, been checked against the computerized database of stolen or lost artwork, antiques and other cultural objects maintained by the Art Loss Register. A search certificate can be provided by the Art Loss Register. The Art Loss Register can be reached by post at Suite 101, Luton House, 164-180 Union Street London SE1 0lH, or by email at artloss@artloss.com. The Art Loss Register cannot, however, guarantee the provenance of any catalogued item against which they search, and will not be liable for any direct or consequential losses of any nature howsoever arising. This statement is not intended to affect, detract from, or override PHILLIPS, de PURY & COMPANY’s Conditions of Sale, and in the event of any conflict the Conditions of Sale will take priority to the terms of this statement. IMPORTANT NOTICE TO ALL PURCHASERS OF JEWELRY JEWELRY Clients are advised that many colored gemstones are treated to enhance their properties. For example, heating is commonly used to improve the color or transparency of rubies and sapphires; and oiling is used to enhance clarity in emeralds. Such enhancement procedures are widely accepted by the international jewelry profession. While the color of heat-treated stones is permanent, oiling may need to be repeated after a number of years in order for emeralds to retain optimum clarity. As a matter of policy, Phillips, de Pury & Company will obtain gemological reports from officially recognized laboratories for certain gemstones offered for sale. The contents of these reports are given in our catalogues. It is not feasible, however, for Phillips, de Pury & Company to obtain such reports for all gemstones offered at auction and prospective buyers should therefore bear in mind that, unless otherwise stated, such enhancement methods could have been used. Enhancement of gemstones may affect market values, and clients are advised that if official gemological reports are not available, gemstones may have been enhanced. All weights are approximate, whether or not qualified by the terms “stated to be” or “approximately.” Illustrations are rarely actual size and cannot be used as precise indications of size or weight. Subject to the limitations in the Terms and Conditions for this sale found in the back of this catalogue, information about size, weight and other important matters can be found in the description accompanying each lot. Further information can be obtained from the specialists in charge of this sale and through your own inspection of the lot. Watches No warranty is made that any watch is in working order and nothing in the catalogue description of any lot should be taken as implying such. Purchasers are advised to have watches checked by a competent watchmaker before use. Phillips, de Pury & Company cannot arrange for the delivery of Rolex, Piaget, Franck Muller and Corum watches to the United States because U.S. laws restrict the import of Rolex, Piaget, Franck Muller and Corum watches. These lots are marked with the symbol . The buyer or a designated agent may collect the property in the country of sale. BUYERS Buyers are advised that all purchases not collected on the day of the sale will be held for collection at no charge for 28 days. Payment by wire transfer may be sent directly to: Phillips, de pury and company limited Union de Banques Suisses 8, rue du Rhône 1211 Genève 11 a/c: U.B.S. WCHZH12A 240-404 813.00Q COLLECTION TIMES Items can be collected at Phillips, de Pury & Company, 23 quai des Bergues, 1201 Genève, at agreed times. INFORMATIONS DESTINÉES AUX ACHETEURS Croissance des enchères – directives Les intervalles des enchères décrits ci-dessous sont généralement appliqués, mais restent à l’entière discrétion du crieur. Les enchères par délégation ou par écrit qui ne se conformeraient pas à ces périodes pourront être abaissées au prochain intervalle: CHF. 500 – 1,000 par CHF. 50 | CHF. 1,000 – 2,000 par CHF. 100 CHF. 2,000 – 5,000 par CHF. 200 | CHF. 5,000 – 10,000 par CHF. 500 CHF. 10,000 – 20,000 par CHF.1,000 | CHF. 20,000 – 50,000 par CHF. 2,000 CHF. 50,000 et plus la discrétion du crieur Contestation de l’intervalle des enchères En certaines occasions, l’intervalle proposé par le crieur est contesté. Par exemple, le crieur fait un appel pour une enchère de CHF. 3 200, alors que l’enchérisseur ne désire pas enchérir pour plus de CHF. 3 100. Le crieur est en droit d’accepter ou de refuser cette contestation de la périodicité, qu’il a toute discrétion de déterminer. Cependant, en règle générale et cela pour assurer la bonne marche de la vente, le crieur acceptera une seule contestation d’un enchérisseur. Après contestation, ce même enchérisseur n’aura pas le droit de prendre part à la suite des enchères pour ce lot. Tout enchérisseur peut, à tout moment, enchérir pour une somme plus importante que celle proposée par le crieur et continuer d’enchérir. Estimations Pour le bénéfice de notre clientèle internationale, les estimations sont données en francs suisses et en dollars américains. Les estimations en francs suisses ont été converties au change suivant et arrondies: CHF. 1 = US$ 0.804 US$ 1 = CHF. 1.243 La vente sera conduite en francs suisses et les paiements effectués en francs suisses. Les estimations données en dollars sont donc approximatives et ne peuvent être utilisées que comme guide. Les paiements en monnaie étrangère ne seront acceptés qu’à condition qu’un arrangement ait été préalablement agréé par Phillips, de Pury & Company. Le taux de change utilisé sera alors le cours billet du franc suisse à la vente établi par l’Union de Banques Suisses le jour du paiement et soumis aux charges bancaires. INFORMATION FOR BUYERS Bidding increments – Guidelines The following bidding intervals are generally used subject to the auctioneer’s full discretion. Postal and commission bids that do not conform with these intervals may be lowered to the next bidding interval: CHF. 500 –1,000 by CHF. 50 | CHF. 1,000 – 2,000 by CHF. 100 CHF. 2,000 – 5,000 by CHF. 200 | CHF. 5,000 – 10,000 by CHF. 500 CHF. 10,000 – 20,000 by CHF. 1,000 | CHF. 20,000 – 50,000 by CHF. 2,000 CHF. 50,000 and more at auctioneer’s discretion Challenges to bidding increments Challenges are occasionally made to the bidding increment suggested by the auctioneer. For example, if the auctioneer calls for a bid of CHF. 3,200, the maximum that a bidder may wish to bid is CHF. 3,100. The auctioneer may accept or decline any challenge to the bidding increment as he, in his sole discretion, shall determine. However, the general rule is that, to maintain the pace of the sale, the auctioneer wiIl accept a single challenge from one bidder. Thereafter, for that lot, the bidder who challenged the increment will not have his bid recognized. Any bidder, at any time, may call out a bid exceeding the sum asked for by the auctioneer, and continue to bid thereafter. Estimates For the benefit of international clients, estimates are shown in both Swiss Francs and US$. The Swiss Franc estimates have been converted at the following rate and rounded up: CHF. 1 = US$ 0.804 US$ 1 = CHF. 1.243 The sale will be conducted in Swiss Francs and payment is due in Swiss Francs. Estimates in US$ are approximate and for guidance only. Payment in any other currency will be accepted on condition that an arrangement is made with Phillips, de Pury & Company prior to the sale. The rate will be the Swiss Franc sell-rate for cash as quoted by the Union de Banques Suisses on the day of payment and subject to bank charges. CONDITIONS DE VENTE APPLICABLES AUX ACHETEURS 1 L’acheteur paie une surtaxe de 20% en sus du prix d’adjudication de chaque lot, ce jusqu’à un montant d’adjudication de 250.000 francs suisses. au-dessus de ce montant, la surtaxe est réduite à 12%. La TVA de 7.6% est prélevée dans tous les cas sur le prix d’adjudication et sur l’émolument dû par l’acheteur. Cette taxe sera remboursée aux acquéreurs domiciliés à l’étranger qui auront, dans les 30 jours suivant la vente, présenté à Phillips, de Pury & Company Limited. (ci-après désigné Phillips, de Pury & Company) une déclaration d’exportation dûment timbrée par les douanes suisses, déclaration attestant de la sortie hors de Suisse des objets acquis.Les déclarations non timbrées ne donneront droit à aucun remboursement. 2 Phillips, de Pury & Company décline toute responsabilité en ce qui concerne l’âge, l’origine, l’état ou la qualité des pièces. Les poids, qualifiés ou non des termes “stated to be” ou “approximately”, sont tous approximatifs. Le jour de la vente, tous les ouvrages métaux précieux sont marqués conformément à la loi. Les similis ne portent aucun marquage. Indépendamment de notre volonté, lors de l’impression du catalogue, des erreurs de composition concernant les ouvrages peuvent apparaître. “Seules les marques apposées sur les lots font foi.” Les acheteurs ont la possibilité, au cours de l’exposition précédant la vente, de se renseigner sur l’état et la valeur des collections, mais aucune personne employée par Phillips, de Pury & Company n’est autorisée à donner une garantie à cet égard. 3 L’huissier ou le crieur ont le droit d’avancer les enchères, de les séparer, de joindre ou retirer n’importe quel lot, cela à son absolue discrétion. 4 L’adjudication est faite au plus offrant. En cas de litige entre deux ou plusieurs acheteurs, le lot contesté sera immédiatement remis aux enchères. Il n’est admis aucune réclamation une fois l’adjudication prononcée. Les adjudicataires donneront à Phillips, de Pury & Company leur nom et adresse et, éventuellement, verseront un acompte sur l’objet. Dans le cas où un prix de réserve a été fixé, l’huissier ou le crieur ont le droit d’enchérir pour le compte du vendeur. 5 Lorsque le prix de réserve fixé n’a pas été atteint, il sera passé à la criée du lot suivant par un simple coup de marteau. 6 Le prix de vente doit être payé au comptant, en francs suisses. Phillips, de Pury & Company se réserve le droit de refuser ou de soumettre à certaines conditions tout paiement au moyen de chèques tirés sur une banque ayant son siège en Suisse ou à l’étranger. 7 Les personnes inconnues de l’huissier judiciaire, du crieur ou de Phillips, de Pury & Company pourront être amenées soit à se légitimer, soit à fournir des garanties bancaires ou des versements de provisions. L’huissier judiciaire, le crieur ou Phillips, de Pury & Company pourront refuser les ordres émanant d’inconnus. 8 Phillips, de Pury & Company distribuera aux personnes intéressées des numéros qui permettront leur identification lors de la vente. 9 Les personnes qui ne sont pas présentes à la vente peuvent remettre au crieur ou à l’huissier judiciaire des ordres d’achat écrits. Les prix mentionnés sur les ordres d’achat sont réputés être les prix maximums d’adjudication sans frais, ni commission, ni TVA. Les modifications des ordres d’achat ne sont acceptées que par écrit, au plus tard la veille de la vente. Les ordres d’achat provenant de clients inconnus de Phillips, de Pury & Company ne seront acceptés que s’ils sont accompagnés d’un acompte ou d’une référence bancaire. Ces derniers doivent parvenir en temps voulu à Phillips, de Pury & Company pour être pris en considération lors de la vente aux enchères. 10 Aucun lot ne sera retiré avant la fin de la vente. Tous les lots dûment payés seront retirés le lendemain de la vente, faute de quoi Phillips, de Pury & Company déclinera toute responsabilité en cas de perte, vol, dommages ou destruction de la marchandise. Les lots qui ne seraient pas retirés sont soumis à des frais d’entreposage, qui s’élèveront à 10 CHF. par lot et par jour. Les lots qui n’auront pas été retirés dans la semaine qui suit la vente peuvent être remis aux enchères ou revendus directement par Phillips, de Pury & Company sans avis préalable à l’acheteur. En cas de perte quelconque, la responsabilité de Phillips, de Pury & Company se limite au maximum au prix payé par l’acquéreur du lot. L’enlèvement des objets, effectué par un tiers, ne pourra être accompli que par une personne instruite par écrit par l’acheteur. Sur demande, Phillips, de Pury & Company fournira un devis pour le transport porte à porte des objets acquis. Tous les frais de transport, de douane ou d’assurance seront à la charge de l’acquéreur. 11 La participation aux enchères implique l’acceptation inconditionnelle des présentes conditions de vente. Phillips, de Pury & Company se réserve le droit de recouvrer toute perte intervenant à la suite de la remise en vente d’un lot, ainsi que les frais y relatifs. Phillips, de Pury & Company pourra retenir toute somme déposée en paiement partiel comme garantie sur les objets des défaillants. Au cas où le paiement ne serait pas effectué dans les sept jours qui suivent la vente, Phillips, de Pury & Company exigera un intérêt de 1.5% par mois (frais compris) sur le prix de vente. 12 Toute personne participant aux enchères s’y trouve à ses risques et périls. En cas d’accident, Phillips, de Pury & Company n’engage pas sa responsabilité. 13 Toute personne qui commet un dommage aux œuvres d’art ou objets mis en vente sera tenue pour responsable de ce dommage. 14 L’avis de toute vente sera préalablement publié dans la Feuille d’Avis Officielle et tout intéressé a le droit de consulter les Conditions de Vente dès cette publication. 15 Juridiction: Tout litige relatif à la vente est soumis à l’application exclusive du droit suisse et à la juridiction des tribunaux du Canton de Genève, sous réserve de recours au Tribunal fédéral de Lausanne. CONDITIONS OF SALE APPLICABLE TO BUYERS 1 Buyer’s premium will be charged at 20% on the first CHF. 250,000 of the hammer price of each lot, and at 12% thereafter. Swiss Value Added Tax (VAT) of 7.6% is applicable in all cases on the hammer price and the buyer’s premium. This VAT is refundable to non-Swiss resident buyers who, within 30 days following the sale, present to Phillips, de Pury & Company Limited (hereinafter Phillips, de Pury & Company) the export declaration, duly stamped by Swiss customs, proving that the goods have left Switzerland. Non-stamped declarations are invalid. 2 Every lot is sold with all faults and errors of description and Phillips, de Pury & Company disclaim, for themselves and for the vendors, all responsibility for authenticity, age, origin, condition or quality. All weights are approximate, whether or not qualified by the terms “stated to be” or “approximately.” The day of the sale, all precious metals works are stamped in accordance with the law. All other metals do not bear any marks. Beyond our control, when the catalogue is prepared, errors of composition might appear concerning the works. Only the marks stamped on the lots are trustworthy. Purchasers are deemed to have satisfied themselves on authenticity, condition, etc., before bidding and no one in the employment of Phillips, de Pury & Company has the authority to make any representation of fact. 3 The Auctioneer has absolute discretion to divide any lot, to combine two or more lots, to withdraw any lots, to refuse bids, and to regulate the bidding. He may bid on the vendor’s behalf for all goods which are being offered subject to a reserve or at the Auctioneer’s discretion. 4 The highest bidder shall be the buyer. In case of disagreement the lot or lots will immediately be reoffered by the Auctioneer. No claim will be accepted once the adjudication has been given. When a reserve price has been set, the Auctioneer has the right to bid on behalf of the vendor. 5 When the reserve price has not been reached, the lot will be passed at the fall of the hammer. 6 Payment must be made in cash and in Swiss Francs. Phillips, de Pury & Company reserves the right to refuse immediate clearance of goods when paid for by cheque, whether drawn on a Swiss or foreign bank. 7 Clients unknown to Phillips, de Pury & Company, the Auctioneer, or the Huissier might be requested to submit proper identification, or a bank guarantee, or advance payment. Phillips, de Pury & Company, the Auctioneer, or the Huissier retain full authority to refuse bids from unknown clients. 8 Phillips, de Pury & Company requires that all prospective buyers use a bidding number in place of their names. 9 Persons not present at the sale may leave their bids with the Auctioneer or the Huissier. The prices on these bidding forms will be treated as minimum hammer price, excluding premium or taxes. Alterations to these forms can only be accepted in writing up to the evening preceeding the sale. 10 No purchase shall be claimed or removed until the sale has been concluded. All lots shall be paid for and removed at the buyer’s risk and expense the day following the sale, failing which Phillips, de Pury & Company shall not be responsible if the same are lost, stolen, damaged or destroyed, and all lots not so removed shall remain at the risk of the buyer and subject to a minimum warehousing charge of 10 CHF. per lot per day. If purchases are not removed within seven days of the sale, Phillips, de Pury & Company may resell them by auction or privately without notice to the buyer. Any liability which there may be on the part of Phillips, de Pury & Company in respect of any loss shall be restricted to a maximum of the price paid by the purchaser of the lot. Clearance of purchases, other than by the purchaser, must be carried out by a person specified on the written direction of the buyer. On request, Phillips, de Pury & Company will quote for door-to-door transport of purchased items. All costs incurred by shipping, customs and insurance will be at the expense of the buyer. 11 If any buyer fails to comply with any of the above conditions, the damages recoverable from the defaulter shall include all loss arising from any resale of the lot together with the charges and expenses in respect of both sales, and any money deposited in part payment shall be held by Phillips, de Pury & Company against the defaulter’s liability. Interest of 1.5% per month (including expenses) on the purchase price will be charged if payment is not received within seven days after the sale. 12 Every person attending the public exhibition or the sales shall be deemed to be there at his own risk. He shall have no claim against Phillips, de Pury & Company in respect of any injury he may sustain or any accident which may occur. 13 Any person causing damage to an item will be held legally responsible. 14 Notice of all forthcoming Auction Sales will appear in “La Feuille d’Avis Officielle” and all interested parties are welcome to consult the Conditions of Sale at this time. 15 Any dispute concerning the sale shall be governed by Swiss law and settled by the courts of the Canton of Geneva subject to appeal to the Supreme Court in Lausanne.