WATCHMAKING PLEASURE

GENERAL TERMS AND CONDITIONS OF SALE / LEGAL NOTICE DELIVERIES AND COLLECTIONS DELIVERY CONDITIONS: All our deliveries are handled with particular care. Each lot is packed with the utmost care. All our parcels are tracked and insured. SHIPPING COSTS: European Union: Contact us United Kingdom: Contact us Rest of Europe: Contact us Other destinations: Contact us USA and Canada: Contact us Rates negotiated with DHL. SPECIFIC DELIVERIES: Your lot delivered to your home in less than 72 hours* anywhere in the world (contact us for a quotation). * Please note that some countries do not allow express shipping for works of art and certain jewelry items COLLECTION POSSIBILITY: For security and insurance reasons, we no longer accept collections from our office. CUSTOMS INFORMATION: Other costs or fees, such as customs or import duties, customs clearance and handling charges, may also be claimed during the shipment of your lot. In this case, they will be invoiced to you subsequently by the relevant department. GENERAL TERMS AND CONDITIONS OF SALE (Effective as of 01/01/2026) Clause No. 1: Purpose The general terms and conditions of sale set out below detail the rights and obligations of Absolute Auction and its customer in connection with the sale of the following goods: Works of art, jewelry, watches, rugs, wines and spirits, leather goods, fashion accessories, etc. Any service performed by Absolute Auction therefore implies the buyer's unreserved acceptance of these general terms and conditions of sale. Clause No. 2: Price and Auction Fees Absolute Auction acts as an intermediary for its consignors (individuals, companies, associations, etc.). It conducts sales as a digital sales operator on partner platforms. In this capacity, it is remunerated in the amount of 22% excluding VAT of the winning bid amount. Bidders must therefore pay, in addition to their bids, the following selling fees: 26.62% incl. VAT selling fees The amount of the platform fees. Transport and any customs fees. Clause No. 3: Discounts and rebates No discount or rebate will be granted in the event of early payment. Clause No. 4: Cash discount No cash discount will be granted in the event of early payment. Clause No. 5: Payment terms Payment of auction purchases shall be made without delay: Either by credit card (Bancontact, Visa, Mastercard, American Express); or by Paypal, Apple Pay, GPay. Fees may be charged depending on the payment method in accordance with the rates applied by our provider (SUMUP). Or by bank transfer Upon registration of the sale, the buyer must pay the full amount. Clause No. 6: Late payment In the event of total or partial non-payment for the goods after 30 days following the close of the auction, the buyer must pay Absolute Auction a late-payment penalty equal to three times the legal interest rate, as well as storage and insurance costs for the lot during its warehousing. The legal interest rate applied shall be the rate in force on the day of the auction. This penalty is calculated on the amount inclusive of VAT remaining due, and runs from the due date of the price without any prior formal notice being necessary. In addition to late-payment penalties, any sum, including the deposit, not paid on its due date shall automatically give rise to payment of a fixed indemnity of 10% of the total amount inclusive of VAT of the auction purchase slip (bid amount and selling fees) due in respect of collection costs. In the event of termination of the sale, all sums received by the seller must be returned to Absolute Auction. The reminder procedure for unpaid amounts is as follows: D+1: issue of the invoice, which is sent to the successful bidder together with a secure payment link and our bank details. D+3: friendly reminder (by email) D+8: second reminder (by email) D+15: formal notice (by email) and copy to our Judicial Commissioner Registration in the TEMIS file (a file listing unpaid amounts in connection with judicial or voluntary auction sales) D+30: Transfer of the file to the FRIANT office (Bailiff / Judicial Commissioner) 102 Rue Truffaut, 75017 Paris FRANCE The latter is tasked with sending the debtor a formal notice granting the successful bidder a period of 15 days to pay all sums due. (ordinary and registered letters with acknowledgment of receipt) D+45: Application to the court for an order with enforceable title. The FRIANT office is instructed to make this application. +/- D+70: Seizure and enforcement of the order A bid is firm and final. Under no circumstances may a buyer request cancellation of his bid except in a case of force majeure, at the sole discretion of Absolute Auction. If approved by management, a buyer who wrongfully withdraws from a "chrono" or "live" bid will remain liable for the auction fees (which vary depending on the broadcasting platform). Clause No. 7: Termination clause If the buyer has failed to pay all sums due within fifteen (15) days following implementation of the "Late payment" clause, the sale may be terminated automatically, without further formal notice, for the benefit of Absolute Auction. Such termination shall entitle Absolute Auction to receive from the defaulting successful bidder a fixed indemnity corresponding to the amount of the selling fees, increased by ten percent (10%) of the total amount of the auction purchase slip (hammer price and fees included), in accordance with clause 6 of these general terms and conditions. The following may also be added to this indemnity, where applicable: ? storage and insurance costs for the lot, ? as well as legal interest until full payment. In any event, the defaulting successful bidder shall remain liable for the total amount of the auction purchase slip, including the hammer price and the selling fees in their original amount. Consequences for the seller In the event of termination of the sale, any sums that may have been received by the seller must be returned to Absolute Auction. Consequences for the defaulting successful bidder In the event of termination of the sale, Absolute Auction may, in accordance with the seller's instructions: ? either put the lot back up for sale, ? or return the lot to the seller. If the lot is re-offered for sale, the difference between the new hammer price and the initial price, if negative, shall be borne entirely by the first defaulting successful bidder. If this difference is positive, it shall remain with the seller. In all cases, the defaulting successful bidder shall remain liable for payment of the fees and indemnities referred to above and may under no circumstances claim ownership of the lot or lots concerned, whether they have been resold or returned. Clause No. 8: Retention of title clause Absolute Auction retains title, on behalf of its consignor, to the goods sold until full payment of the price, principal and ancillary amounts. In this respect, if the buyer becomes subject to judicial reorganization or liquidation proceedings, Absolute Auction reserves the right to claim, within the framework of the collective proceedings, the goods sold and remaining unpaid. Clause No. 9: Delivery Delivery is made: Either by sending a notice of availability at our premises for the attention of the buyer; Or to the place indicated by the buyer on the sale slip. The delivery period indicated when the sale is registered is given for information purposes only and is in no way guaranteed. Consequently, any reasonable delay in the delivery of the products shall not entitle the buyer to: damages; cancellation of the sale. The transport risk is borne in full by the buyer. In the event of missing or damaged goods during transport, the buyer must make all necessary reservations on the order form upon receipt of said goods. These reservations must also be confirmed in writing within five days following delivery, by registered letter with acknowledgment of receipt. The buyer has 8 working days to arrange shipment of his lots. Beyond this period, the buyer shall bear storage fees calculated on the volumetric weight of the goods, as well as insurance costs. After a period of 3 calendar months following the sale, and in the absence of payment of transport and/or storage fees, the sale shall be terminated automatically and shall result in retention of the fees as damages (provided for in clause 7). The balance shall be returned by bank transfer. In the event of termination of the sale, all sums received by the seller must be returned to Absolute Auction. Clause No. 10: Force majeure Absolute Auction shall not be held liable if the non-performance or delay in the performance of one of its obligations described in these general terms and conditions of sale results from a case of force majeure. In this respect, force majeure means any external, unforeseeable and irresistible event. Clause No. 11: Competent court Any dispute relating to the interpretation and performance of these general terms and conditions of sale shall be governed by Belgian law. In the absence of an amicable settlement, the dispute shall be brought before the Belgian courts and/or those of the successful bidder's country. Clause No. 12: Bailiff's Office and Judicial Commissioner Within the framework of its legal obligations, Absolute Auction appoints, at its discretion and according to the availability of each office: ? Ma?tre DEBRAY, Bailiff EDKD SRL Val des Seigneurs 15 ? B-1150 Brussels (Belgium) BCE: BE0479.100.321 Register of Legal Entities of Brussels (Belgium) OR ? Ma?tres Luc INDEKEU & Ann VAN DEN DAELE, Bailiffs 15 Place Jean Jacobs 1000 BRUSSELS For the registration formalities, writing duties and the signing of the minutes of our sales In the context of debt recovery in France, Absolute Auction appoints: ? Ma?tre El?onore FRIANT, Bailiff and Judicial Commissioner 102 Rue Truffaut, 75017 Paris, +33 1 43 26 18 16 Clause No. 13: Resale right In Belgium, the resale right grants an artist a percentage on successive resales of his or her original work of art, calculated on the resale price excluding tax. The rate is progressive and the resale must reach a minimum price of 2,000 euros for the right to apply. The rates are 4% up to ?50,000, then decrease by brackets, with the total amount capped at ?12,500. Conditions of application ? Minimum price: The resale right only applies if the resale price of the work is equal to or greater than ?2,000. ? Nature of the work: It concerns original works of art, such as paintings, sculptures, drawings or engravings. ? Persons concerned: It applies to authors of graphic and visual arts. Calculation of the royalty The resale right is calculated according to a progressive scale applied to the sale price excluding tax: ? 4% on the price bracket from ?2,001 to ?50,000. ? 3% on the bracket between ?50,000.01 and ?200,000. ? 1% on the bracket between ?200,000.01 and ?350,000. ? 0.25% above ?350,000. ? The total amount of the resale right is capped at ?12,500 per resale. Notifications and payments ? The buyer shall be required to declare his purchase to SOFAM ? SOFAM is the copyright management company in Belgium responsible for collecting and redistributing these rights. ? Absolute Auction cannot be held liable for non-payment of the resale right resulting from the buyer's default. Conditions for application of the resale right for sales in FRANCE. Conditions relating to the author: The resale right applies during the author's lifetime and for 70 years after his death (taking into account the end of the calendar year of death). You may ask us for the list of countries whose nationals benefit from the resale right. The author must: ? be a national of the European Union or the European Economic Area, or; ? of a State recognizing the resale right for authors of the European Union (principle of reciprocity), or; ? have participated in French artistic life and resided in France for 5 years, even if not consecutive (principle of assimilation). Conditions relating to the work: Scope The work must fall within the graphic and visual arts. Examples: painting, drawing, collage, sculpture, print, illustration, ceramics, glassware, photography, plastic creation on audiovisual and digital media, design work, furniture, etc. Originality The work must be original, that is to say: ? created by the author himself or herself; or ? produced under the author's responsibility in a limited number of numbered or signed copies or otherwise duly authorized by the author. The law provides for a specific number of copies for certain works: ? 12 copies for sculpture editions (numbered copies and artist's proofs combined); ? 8 copies for tapestries and hand-made textile works of art, based on original models supplied by the artist; ? 8 numbered and signed copies and 4 signed artist's proofs for enamels executed entirely by hand; ? 30 signed copies for photographs, regardless of format and medium; ? 12 copies for plastic creations on audiovisual or digital media. For other types of works, the limiting criterion means that the number of copies produced must be determined, without any maximum limit on the number of copies. Conditions relating to the sale: Three cumulative conditions: ? an art-market professional (auction house, gallery, broker, bookseller, etc.) must be involved in the sale, whether physical or dematerialized, as seller, buyer or intermediary; ? the sale must be carried out in French territory or be subject to VAT there ; ? the sale price must be equal to or greater than ?750 excluding tax. Two exceptions to the application of the resale right: ? the first transfer of the work by the author or his beneficiaries; ? the first resale if the work is resold less than three years after its direct purchase from the artist or his beneficiaries and if its price is less than or equal to ?10,000. The resale right must be paid by the seller or the buyer of the work. For practical and financial reasons, Absolute Auction does not collect the resale right. Done in Brussels, on 1 January 2026. LEGAL NOTICE NOTICES Absolute Auction, a limited liability company with share capital of ?1,500 whose registered office is at Avenue Louise 367, 1050 Brussels (Belgium), registered with the Brussels Register of Commerce and Companies under number 1008.200.083, publishes the website accessible at www.absolute-auction.com.www.absolute-auction.com The Website is hosted by IONOS USE OF THE WEBSITE ? Quality of information Absolute Auction exercises the greatest care and implements every means to publish quality information on the Website. However, Absolute Auction cannot absolutely guarantee the accuracy and completeness of this information, which is not contractual in nature. Absolute Auction is bound by an obligation of means and cannot be held liable for any direct or indirect damage resulting from information that has been misused and/or has proved inaccurate or incomplete. ? Access to the Website Absolute Auction cannot be held liable for any direct or indirect damage resulting from access to its Website and those of its partners, or conversely from the inability to access them. ? Distribution of mail/email Absolute Auction cannot be held liable for any delay, loss or misdelivery of mail/email, nor for its being sent or not sent to an incorrect email address. ? Links to other websites The Website provides access to external partner websites, through hypertext links or through the integration of partner content into the Website. Although the selection of links to external websites has been made with care and vigilance, Absolute Auction cannot be held liable for their availability or editorial content. In general, Absolute Auction cannot be held liable for the actions or any omissions of its partners. ? Intellectual property The presentation and content of this Website constitute a work protected by the laws in force on intellectual property, of which Absolute Auction is the sole owner. The information provided on the Website may only be used for strictly personal purposes. Any use for commercial purposes or any other purpose is prohibited. The elements appearing on the Website are protected by the Intellectual Property Code, treaties and international agreements dealing with provisions relating to the protection of copyright. Accordingly, any full or partial modification, representation and reproduction are strictly prohibited. This prohibition applies regardless of the process of reproduction, representation and/or modification and regardless of its duration. Absolute Auction owns the Website domain name and the Absolute Auction ? trademark. In general, Absolute Auction cannot be held liable for any direct or indirect damage resulting from the unauthorized use of the information or any other element provided on the Website. PRIVACY POLICY Collection of your personal data: During your visits to the Website, Absolute Auction may collect and process certain information concerning you that is personal in nature. Purposes of processing: These data are collected and processed in order to be able: ? To identify you when you make contact and in order to respond to your request for information, ? To improve the Website and listen to your needs, ? To manage and send a newsletter to which you subscribe. Data processed: Your personal data are collected on the basis of your consent through the contact form and our newsletter subscription form and are as follows: surname, first name, email, telephone number, country. Certain information concerning you must be provided if you wish to access the service concerned. Information that is mandatory is indicated by an asterisk. Recipients of the data: These data are not transmitted to any other third party, except for technical service providers involved in management of the Website. Data retention: Personal data are processed, used and kept by Absolute Auction within the limits of what is necessary for the proper functioning of the Website and compliance with the applicable regulations: Newsletter subscription: Absolute Auction keeps your name and email address for as long as the person concerned does not unsubscribe (via the unsubscribe link included in the newsletter). ? Request via the contact form: your data will be kept for the period necessary to process your request for information. o Security of your personal data: Absolute Auction ensures optimal security measures against loss, misuse and alteration of the information entrusted to it by internet users. Right to object: In accordance with the applicable regulations on personal data protection, you may, at any time, exercise your rights of access, rectification and deletion of data concerning you, as well as your rights of restriction and objection to the processing of your personal data. You may also unsubscribe from the newsletter. In addition, under the law, you have the right to define instructions regarding the fate of your personal data after your death. These rights may be exercised by sending a message stating your identity and your request to the following address: contact@absolute-auction.com.contact@absolute-auction.com. Further details may be requested in order to process your request. COOKIES When browsing the Website, information relating to navigation on your terminal (computer, tablet, smartphone, etc.) may be recorded in files called "cookies" installed on it. Cookies are small pieces of information sent from a website and stored on your computer when you connect to the Website. Cookies intended to facilitate navigation on the Website and to measure its audience may thus be recorded on your terminal when you access our Website. Data relating to the Website's audience are collected by Google Analytics, a website analysis service provided by Google Inc. When you first access the Website on a given browser, you are offered the option of accepting or refusing the installation of cookies. You may modify your choice at any time by changing your browser settings: For example: Microsoft Internet Explorer: 1. Click the Internet Explorer menu button in the browser toolbar 2. Select Internet Options 3. Under the Privacy tab, you can configure cookies Mozilla Firefox: 1. Click the Mozilla menu button in the browser toolbar 2. Select Options 3. Select the Privacy panel 4. In the History area, for the History settings option, select use custom settings for history. 5. An area for accepting and configuring cookies allows you to modify cookie settings. Google Chrome: 1. Click the Chrome menu in the browser toolbar 2. Select Settings 3. Click Show advanced settings 4. In the "Privacy" section, click the Content settings button 5. In the "Cookies" section, you can change the settings. Deleting cookies may prevent satisfactory use of the Website. APPLICABLE LAW AND JURISDICTION This Website is governed by Belgian law. In the event of a dispute, the Belgian courts shall have sole jurisdiction except in debt recovery proceedings for non-payment. In such a case, Absolute Auction reserves the right to initiate proceedings in the debtor's country. TEMIS: Unpaid invoice management system Auction sale access restrictions file INFORMATION NOTICE ABSOLUTE AUCTION subscribes to the TEMIS Service, which allows consultation and updating of the Auction Sale Access Restrictions File (the "TEMIS File") implemented by Commissaires-Priseurs Multim?dia (CPM), a public limited company with executive board, having its registered office at (75001) Paris, 14 rue des Pyramides, registered with the Paris Trade and Companies Register under number 437 868 425. Any auction purchase slip remaining unpaid with ABSOLUTE AUCTION or having been the subject of a late payment may be entered in the TEMIS file. (1) Purpose and legal basis of the TEMIS File The TEMIS File records payment incidents relating to auction purchase slips (late payments and non-payments), regardless of the bidder's method of participation (in person or remotely), and may be consulted by all auction sale entities subscribing to the service. The bidder is informed that, failing regularization of his auction purchase slip within the period mentioned on the slip, a procedure for registration in the said file may be initiated by ABSOLUTE AUCTION. The implementation of the TEMIS File and its use by ABSOLUTE AUCTION are necessary for the legitimate interest of TEMIS Service subscribers in preventing unpaid invoices and thus securing auction sales. (2) Entities authorized to consult the TEMIS File (recipients) The TEMIS File may be consulted by any subscribed sales entity (professionals and companies authorized to conduct public auctions of movable goods in accordance with the applicable regulations and in particular with the provisions of Title II "Auctions" of Book III of the Commercial Code (hereinafter the "Subscribed Professionals")), wishing to protect themselves against unpaid invoices and thus secure participation in the auction sales they organize. Consequence of an entry in the TEMIS File Where a bidder is entered in the TEMIS File, ABSOLUTE AUCTION may make access to the auction sales it organizes conditional upon the use of specific means of payment or guarantees, or may temporarily refuse the participation of bidders in auction sales for which such guarantees cannot be implemented. Registration in the TEMIS File may have the effect of limiting the bidder's ability to bid with professionals subscribing to the TEMIS service. Page 3 of 10 It also results in the temporary suspension of access to the ?live? service of the platforms www.interencheres.com managed by CPM, in accordance with the general terms of use of these platforms.www.interencheres.com (3) Period of registration Bidders are informed that the duration of registration in the TEMIS File is determined by the number of auction purchase slips remaining unpaid with Professionals Subscribing to the TEMIS File, by their cumulative amounts and by whether or not they are regularized. The duration of registration in the TEMIS File is reduced if the Bidder regularizes all Payment Incidents. It is increased when the bidder is concerned by several unpaid slips entered in the TEMIS File. Registration of an auction purchase slip as a payment incident is automatically removed no later than after a period of 24 months where the bidder is the subject of only one registration, and 36 months where the bidder is the subject of several registrations. (4) Responsibilities For the application of personal data protection legislation, CPM and ABSOLUTE AUCTION both have the status of data controller. CPM is responsible for implementation of the TEMIS File, which includes in particular collection of data from subscribers, pooling and dissemination of the personal data recorded therein, as well as the security of the information system hosting the TEMIS File. ABSOLUTE AUCTION, as a subscriber, is responsible for its use of the TEMIS File, which includes in particular the communication of personal data relating to successful bidders to CPM for the purpose of registration in the TEMIS File, verification of the accuracy and updating of the data, consultation, as well as reuse of the information in the TEMIS File. (5) Rights of individuals Bidders wishing to know whether they are entered in the File or to contest their registration may send their requests in writing, justifying their identity by producing a copy of an identity document: - - For entries made by ABSOLUTE AUCTION: in writing to ABSOLUTE AUCTION Rue Lebeau 27 1000 BRUSSELS BELGIUM, For entries made by other Subscribed Professionals: in writing to Commissaires-Priseurs Multim?dia 14 rue des Pyramides, 75001 Paris, or by e-mail to contact@temis.auction.contact@temis.auction. Any request seeking to exercise the rights of erasure, restriction and objection available to the Bidder under personal data protection legislation, as well as any other challenge to an entry, must be addressed to the Professional at the origin of the entry, who will submit an update request to CPM. In the event of difficulties, the bidder may refer the matter to CPM, providing all details and supporting documents so that CPM may examine the complaint. Page 4 of 10 The bidder also has the right to lodge a complaint with the Commission nationale de l?informatique et des libert?s (CNIL) [3 Place de Fontenoy - TSA 80715 - 75334 PARIS CEDEX 07, www.cnil.fr] concerning his registration in the TEMIS File. To learn more about the TEMIS File, the bidder is invited to consult thewww.cnil.fr CPM privacy policy available at temis.auction. (6) Bidder's contact details Important notifications relating to the outcome of the auction purchase will be sent to the email address and/or postal address declared by the bidder to the entity at the time of the auction purchase. The bidder must inform ABSOLUTE AUCTION of any change to his contact details. UPDATES Absolute Auction reserves the right to update these terms at any time. Last update: 24/01/2026 Photo credits: ? AbsoluteAuction