Public Auction no. 105 - June 25th, 2006

Conditions of sale 1. The auction will be conducted by the representatives of Matsa for Public Auction and Lucien Krief Gallery.
2. The auctioneers are the sole authority as per their discretion to determine at any time the winner of any lot and/or to withdraw any lot or lots from the sale and/or to re-offer and resell any lot. Purchasing an item is legitimate only when the auctioneer lowers his hammer and announces a card number of a participant in the room or a bidder in writing or a bidder by phone or by the internet live bidding. Notwithstanding the above mentioned, the auctioneer may decide to reopen the bidding if according to his discretion such is warranted.
3. The prices quoted in the catalogue are estimation prices of the lots. These prices are estimations, normally different than the minimum prices. A sale will be affected only at the minimum price or above. The auctioneer reserves the right to sell a lot below the minimum provided that the seller receives his reserve price.
4. The auction will be conducted in U.S. dollars. Payment in N.I.S., is possible and will be calculated according to the rate of purchasing of bank notes by Bank Hapoalim on the date of payment or at the rate on the day of sale, according to the auctioneers discretion.
5. The highest bidder acknowledged by the auctioneer shall be the buyer, from among the bidders present at the auction room in the time of sale or the bidders in writing or by phone or by the internet live bidding. The bidders in writing or by phone or by the internet live bidding, authorize Matsa for Public Auctions and/or Lucien Krief Gallery representatives to bid on their behalf at the time of auction. Any bid placed on behalf of an absentee bidder is binding.
6. Any bid, whether by a bidder present in the auction room at the time of sale or in writing or by phone or by the internet live bidding, whether for himself or for any third party, is an irrevocable commitment. The high bidder as determined by the auctioneer is committed to pay for the article and to accept it. In the event that the high bidder does not abide by his commitment, the auctioneers and/or Matsa for Public Auctions may take any legal measures necessary as representative of the seller to insure the completion of the transaction including buyer's commission and any expenses incurred as a result.
7. All lots are sold "as is". Neither Matsa for Public Auctions nor the seller makes any express or implied warranty of any kind with respect to the description, attribution, literature, former owners, period, provenance, condition or frames concerning the lots offered in the auction. No statement in the sale or the invoice or the bill or sale given to purchasers shall be deemed such a warranty, the auctioneer accepts information also from data given by the seller if he trusts his reliability. It is the responsibility of the bidder to request condition report prior to opening of auction.
8. A 20% buyer's commission (not including 16.5% VAT) is to be added to the hammer price. All foreign residents exporting the lots may be exempt from the 16.5% VAT
9. Payment for the article, buyer's commission and VAT must be paid in full immediately and not later than three days from the date of sale. Acceptable methods of payment are: cash, checks (a clearing period may be required prior to release of paintings), wire transfers, Credit cards: Visa, American Express and MasterCard (an addition of 3.5% fee is applicable).
10. Matsa can help arrange packing, shipping, and insurance of all purchases as per high bidder's instruction. Under no circumstance does Matsa for Public Auction accept liability for the services rendered by the packers, shippers, etc.
11. All articles must be picked up within 30 days from the end the auction. After this period, any expenses incurred by storing the article will be charged to buyer and must be paid prior to release of article.
12. Your bid is a contract. Placing a bid is a legally binding commitment to buy the item if you are the high bidder. You should contact the seller to resolve any questions before bidding. A bid can not be revoked in any form and is an obligation to purchase. Seller requires all bidders to contact and obtain permission to bid. All bidders must register prior to sale with eBay Live Auctions in order to participate in live bidding. Visit www.ebayliveauctions.com. Unlike eBay procedures, bidders do not have the right to withdraw a bid once a Matsa auctioneer accepts it as a winning bid.
13. A special sign by an item represents an item that arrived from outside Israel and is subjected to 16.5% value added tax on the purchasing price and the buyer's commission. Items exported from Israel to the address of a foreign resident will be exempt from VAT.
14. It is important and recommended to come and examine all items in the exhibition before the public auction. The details of this exhibition will be published in the catalogue.
15. Only the Tel Aviv-Jaffa courts of law have jurisdiction of any matter related to this auction unless "Matsa for Public Auctions" decides otherwise.

Local Taxes Apply. Please see the conditions of sale for more information