Hermès: a silk carré by Leila Manchari “Jouvence”, signed towards the bottom right, first issued

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1. Introduction

The following informative notes are intended to assist Buyers, particularly those inexperienced or new to our salerooms. All sales are conducted on our printed Conditions of Sale which are readily available for inspection and normally accompany catalogues. Our staff will be happy to help you if there is anything you do not fully understand.

2. Agency

As auctioneers we usually contract as agents for the seller whose identity, for reasons of confidentiality, is not normally disclosed. Accordingly if you buy your primary contract is with the seller.

3. Estimates

Estimates are designed to help buyers gauge what sort of sum might be involved for the purchase of a particular lot. The lower estimate may represent the reserve price and certainly will not be below it. Estimates do not include the Buyer’s Premium or VAT (where chargeable). Estimates are prepared some time before the sale and may be altered by announcement before the sale. They are in no sense definitive.

4. Buyer’s Premium

The Conditions of Sale oblige buyers to pay a buyer’s premium at 20% on the hammer price of each lot purchased. In addition, VAT is chargeable on this premium (see below). Please see note under live bidding on the following page.  Lots purchased online with ATG media will attract an additional charge for this service in the sum of 4.95% of the hammer price plus VAT at the rate imposed

5. VAT

(*) indicates that there is a VAT element payable by the purchaser at the standard rate (presently 20%) within the hammer price as well as being payable on the buyer’s premium. This imposition of VAT is likely to be because the seller is registered for VAT within the European Union and is not operating the Dealers Margin Scheme or because VAT is due at 20% on importation into the UK. Lots which appear without the above symbol indicate that no VAT is payable on the hammer price. This may be because such lots are sold using the Auctioneers’ Margin Scheme and if so it should be noted that the VAT included within the Premium is not recoverable as input tax.

6. Conditions of lots

Please note carefully the exclusion of liability for the condition of lots contained in the Conditions of Sale. Intending buyers have ample opportunity for inspection of goods and neither the seller nor we as the auctioneers accept any responsibility for their condition. In particular, mechanical objects of any age are not guaranteed to be in working order. However, in specified circumstances lots misdescribed because they are ‘deliberate forgeries’ may be returned and repayment made. There is a 3 week time limit. (The expression ‘deliberate forgery’ is defined in our Conditions of Sale).

7. Condition reports

We may be able to assist buyers unable to view by providing a condition report, but these reports are based solely on our own opinion and are for guidance only and no responsibility is accepted for their accuracy. Intending buyers are strongly encouraged to view. (Please see our Conditions of Sale).  Please note this service is not available on our general Bazaar sales.

8. Electrical goods

Collectable items which are electrical are sold as ‘antiques’ only and if bought for use must be checked over for compliance with safety regulations by a qualified electrician first.

9. Export of goods

Buyers intending to export goods should ascertain (a) whether an export licence is required and (b) whether there is any specific prohibition on importing goods of that character because, e.g. they may contain prohibited materials such as ivory.

10. Bidding

Bidders may be required to register before the sale commences and lots will be invoiced to the name and address on the registration form. Some form of identification may be required if you are unknown to us. Please enquire in advance about our arrangements for telephone bidding.

11. Commission bidding

Commission bids may be left with the auctioneers indicating the maximum amount to be bid excluding buyer’s premium. They will be executed as cheaply as possible having regard to the reserve (if any) and competing bids. If two buyers submit identical commission bids the auctioneers may prefer the first bid received. Please enquire in advance about our arrangements for the leaving of commission bids by telephone or e-mail.

12. Methods of Payment

Unsupported cheques will not be accepted unless prior arrangements have been made. As a general rule any cheques tendered will need to be cleared before removal of the goods is permitted. Please discuss with our Office in advance of the sale if other methods of payment are envisaged (except cash).

13. Collection and storage

Please note what the Conditions of Sale state about collection and storage. It is important that goods are paid for and collected promptly. Any delay may involve the buyer in paying our storage charges.

Glossary of Terms concerning the attribution of paintings

and drawings:-

(i)            The christian name(s) and surname of the artist indicates in our opinion a work by the artist.

(ii)           The initials of the christian name(s) and the surname of the artist indicate in our opinion a work of the period of the artist which may be wholly or in part his work.

(iii)          The surname only of the artist indicates in our opinion a work of the school or by one of the followers of the artist or in his style and of uncertain date.

(iv)         ‘‘Bears signature’’ indicates in our opinion that this is not the signature of the artist.

(v)          The name of the artist preceded by ‘‘After’’ indicates in our opinion a copy of the work of the artist.

NOTICE TO BUYERS OF GEMSTONES/JEWELS

Many coloured gemstones have been subjected to a variety of treatments designed to enhance their appearance, for example heating is regularly used to improve colour or transparency in rubies and sapphires. Other treatments such as oiling, enhance the clarity of emeralds. Other coloured gemstones may have undergone permanent or semi-permanent treatments such as dyeing, irradiation, coating and impregnation, which may require further re-treatment in order to retain their appearance. The jewellery trade generally accepts these treatments. Prospective purchasers should assume all gemstones will have been treated unless statements are made to the contrary.

Recent advancements in technology have led to some diamonds being treated in a variety of ways designed to enhance their appearance.  These treatments can include fracture filling, laser drilling, irradiation and coating.  Every effort is made to identify such treatments, however it is not possible for Morphets to guarantee that all lots containing diamonds are free of these enhancements.

Selling at Morphets

Selling by auction is a simple and efficient way of disposing of either a single item or an entire household on the open market with professional advice. Morphets’ staff are available to assist you with your sale.

Morphets hold quarterly catalogue sales which include fine art, antique furniture, works of art and regular sales of household content and Victoriana. Your consignment will be individually assessed for the most suitable sale.

If your items are too large or numerous to bring to the office an appointment can be made for our valuers to call at your home.

Live bidding is available for this Sale

Any bids made via www.the-saleroom.com live auction service will be subject to an additional 4.95% commission on the hammer price.

Artists Resale Rights

In accordance with Artists Resale Rights Regulations 2006  all lots marked ARR which sell for 1,000 or more are subject to a resale royalty charge ("Royalty"). This Royalty is payable by the Bidder.  The Royalty will be charged at a rate of 4% of the total hammer price (exclusive of Bidder's premium which is payable under clause 8a) for lots selling for amounts up to €50,000.  For lots selling in excess of €50,001, the Royalty shall be calculated at a reduced rate (details available on request). The Royalty is not subject to VAT and is payable in sterling calculated on the day of sale at the prevailing rate of exchange. Payment shall be passed directly to the Design and Artists Copyright Society (DACS) 33 Great Sutton Street, London EC1V 0DX. For further information please contact the Auctioneers or DACS on 0845 4103410 or visit their website at www.dacs.org.uk

Conditions of Sale

Morphets carries on business with bidders, buyers and all those present in the auction room prior to or in connection with a sale on the following General Conditions and on such other terms, conditions and notices as my be referred to herein.

1. DEFINITIONS

In these Conditions:

(a) “auctioneer” means the firm of Morphets or its authorised auctioneer, as appropriate;

(b) “deliberate forgery” means an imitation made with the intention of deceiving as to authorship, origin, date, age, period, culture or source but which is unequivocally described in the catalogue as being the work of a particular creator and which at the date of the sale had a value materially less than it would have had if it had been in accordance with the description;

(c) “hammer price” means the level of bidding reached (at or above any reserve) when the auctioneer brings down the hammer;

(d) “terms of consignment” means the stipulated terms and rates of commission on which Morphets accepts instructions from sellers or their agent;

(e) “total amount due” means the hammer price in respect of the lot sold together with any premium, Value Added Tax chargeable and any additional charges payable by a defaulting buyer under these Conditions;

(f) “sale proceeds” means the net amount due to the seller, being the hammer price of the lot sold less commission at the stated rate, Value Added Tax chargeable and any other amounts due to us by the seller in whatever capacity and however arising;

(g) “You”, “Your”, etc. refer to the buyer as identified in Condition 2.

(h) The singular includes the plural and vice versa as appropriate.

2. BIDDING PROCEDURES AND THE BUYER

(a) Bidders are required to register their particulars before bidding and to satisfy any security arrangements before entering the auction room to view or bid.

(b) The maker of the highest bid accepted by the auctioneer conducting the sale shall be the buyer at the hammer price and any dispute about a bid shall be settled at the auctioneer’s absolute discretion by reoffering the Lot during the course of the auction or otherwise.

(c) Bidders shall be deemed to act as principals.

(d) Once made, no bid may be withdrawn.

(e) Our right to bid on behalf of the seller is expressly reserved up to the amount of any reserve and the right to refuse any bid is also reserved.

3. INCREMENTS

Bidding increments shall be at the auctioneers sole discretion.

4. THE PURCHASE PRICE

The buyer shall; pay the hammer price together with a premium thereon of 20% plus VAT on the premium at the rate imposed by law. Any bids made via

www.the-saleroom.com live auction service will be subject to an additional 4.95% commission on the hammer price.

5. VALUE ADDED TAX

Value Added Tax on the hammer price is imposed by law on all items affixed with an asterisk. Value Added Tax is charged at the appropriate rate prevailing by law at the date of sale and is payable by buyers of relevant Lots. (Please refer to “Information for Buyers” for a brief explanation of the VAT position).

6. PAYMENT

(1) Immediately a Lot is sold you will:

(a) give to us, if requested, proof of identity, and (b) pay to us the total amount due in cash or in such other way as is agreed by us.

(2) Any payments by you to us may be applied by us towards any sums owing from you to us on any account whatever without regard to any direction of you or your agent, whether express or implied.

7. TITLE AND COLLECTION OF PURCHASES

(1) The ownership of any Lots purchased shall not pass to you until you have made payment in full to us of the total amount due.

(2) You shall at your own risk and expense take away any lots that you have purchased and paid for not later than two working days following the day of auction after which you shall be responsible for any removal, storage and insurance charges.

(3) No purchase can be claimed or removed until it has been paid for.

8. REMEDIES FOR NON-PAYMENT OR FAILURE TO COLLECT PURCHASES

If any Lot is not paid for in full and taken away in accordance with these Conditions or if there is any other breach of these Conditions, we as agent for the seller shall at our absolute discretion and without prejudice to any other rights we may have, be entitled to exercise all or any of the following rights and remedies:

(a) to proceed against you for damages for breach of contract;

(b) to rescind the sale of that Lot and/or any other Lots sold by us to you;

(c) to resell the Lot (by auction or private treaty) in which case you shall be responsible for any resulting deficiency in the total amount due (after crediting any part payment and adding any resale costs). Any surplus so arising shall belong to the seller;

(d) to remove, store and insure the Lot at your expense and, in the case of storage, either at our premises or elsewhere;

amount due to the extent it remains unpaid for more than two working days after the sale;

(e) to charge interest at a rate not exceeding 2% above Barclay's Bank P.L.C. base rate per day on the total amount due to the extent it remains unpaid for more than two working days after the sale.

(f) to retain that or any other Lot sold to you until you pay the total amount due;

(g) reject or ignore bids from you or your agent at future auctions or to impose conditions before any such bids shall be accepted.

(h) to apply any proceeds of sale or other Lots due or in future becoming due to you towards the settlement of the total amount due and to exercise a lien on any of your property in our possession for any purpose.

9. THIRD PARTY LIABILITY

All members of the public on our premises are there at their own risk and must note the lay-out of the accommodation and security arrangements. Accordingly, neither the auctioneer nor our employees or agents shall incur liability for death or personal injury (except as required by law by reason of our negligence) or similarly for the safety of the property of persons visiting prior to or at a sale.

10. COMMISSION BIDS

Whilst prospective buyers are strongly advised to attend the auction and are always responsible for any decision to bid for a particular Lot and shall be assumed to have carefully inspected and satisfied themselves as to its condition we will if so instructed clearly and in writing execute bids on their behalf. Neither the auctioneer nor our employees or agents shall be responsible for any neglect or default in so doing or failing to do so. Where two or more commission bids at the same level are recorded we reserve the right in our absolute discretion to prefer the first bid so made.

11. WARRANTY OF TITLE AND AVAILABILITY

The seller warrants to the auctioneer and you that the seller is the true owner of the property consigned or is properly authorised by the true owner to consign it for sale and is able to transfer good and marketable title to the property free from any third party claims.

12. AGENCY

The auctioneer normally acts as agent only and disclaims any responsibility for default by sellers or buyers.

13. TERMS OF SALE

The seller acknowledges that Lots are sold subject to the stipulation of these Conditions in their entirety and on the Terms of Consignments as notified to the consignor at the time of the entry of the Lot.

14. DESCRIPTIONS

(1) Subject to the next following Condition concerning deliberate forgeries, any representation or statement by us in any catalogue as to authorship, genuineness, origin, date, age, provenance, condition or estimated

selling price is a statement of opinion only. Prospective buyers are given ample opportunities to view and inspect before any sale and prospective buyers must satisfy themselves as to all such matters. Neither the auctioneer nor its employees or agents nor the seller accept liability for the correctness of such opinions and all conditions and warranties, whether relating to description, condition or quality of Lots, expressed, implied or statutory are hereby excluded.

(2) Private treaty sales made under these Conditions are deemed to be sales by auction for purposes of consumer legislation.

15. FORGERIES

Notwithstanding the proceeding Condition, any Lot which proves to be a deliberate forgery (as defined) may be returned to us by you within 21 days of the auction provided it is in the same condition as when bought, and is accompanied by particulars identifying it from the relevant catalogue description and a written statement of defects. If we are satisfied from the evidence presented that the Lot is a deliberate forgery we shall refund the money paid by you for the Lot including any buyer’s premium (but not the amount of any consequential loss, damages, expenses or interest) provided that (1) if the catalogue description reflected the accepted view of scholars and experts as at the date of sale or (2) you personally are not able to transfer a good and marketable title to us, you shall have no rights under this condition.

GENERAL

16. We shall have the right at our discretion, to refuse admission to our premises or attendance at our auctions by any person.

17. Any idemnity or exclusion under these Conditions shall extend to all actions, costs, expenses, claims and demands whatsoever suffered or incurred by the person entitled to the benefit of it and the auctioneer declares itself to be a trustee of the benefit of every such clause so far as it is expressed to be for the benefit of its employees and agents.

18. Any notice to any buyer, seller, bidder or viewer may be given by first class mail in which case it shall be deemed to have been received by the addressee 48 hours after posting.

19. Special terms may be used in catalogue descriptions of particular classes of items in which case the descriptions must be interpreted in accordance with any glossary appearing within the catalogue.

20. Any indulgence extended to buyers or sellers by us notwithstanding the strict terms of these conditions or of the Terms of Consignment shall effect the position at the relevant time only and in respect of that particular concession only; in all other respects these conditions shall be construed as having full force and effect.

21. English law applies to the interpretation of these Condition

Lots purchased online with ATG media will attract an additional charge for this service in the sum of 4.95% of the hammer price plus VAT at the rate imposed