[POSTCARDS]. DETACHABLE BOOKLETS OF VIEWS. - Lot 18

PHIDIAS acts as an operator of voluntary sales of furniture by public auction governed by articles L321-4 et seq. of the French Commercial Code and as the seller's agent.

The relationship between PHIDIAS and the buyer is subject to the present terms and conditions of purchase, which may be amended by written or oral notices prior to the sale and mentioned in the minutes of the sale.

Participation in auctions, whether in the auction room, by telephone or via the Internet, implies acceptance of these conditions.

Live auctions are carried out through Drouotlive.com, which is a technical platform enabling remote and electronic participation in public auctions. The user wishing to participate in a sale via drouotlive.com shall take cognizance of and accept without reservation the terms and conditions of use of this service provider, which can be consulted at www. drouotlive.com.

These conditions are independent and are in addition to the present general terms of sale.

GENERAL TERMS AND CONDITIONS

In accordance with the legislation in force, the sale will be made expressly in cash and in euros.

All goods are sold in the state they are in at the time of the sale. No claim will be possible once the sale has been made, especially with regard to restoration and/or minor accidents. As the successive exhibitions have allowed us to observe the condition of the items presented, it is the responsibility of the bidders to examine each item before the sale and to rely on their own judgments as to its conformity with the description in the catalog.

THE BIDDING

Buyers will pay the main price of the last bid plus a sales commission of 20% (excluding VAT) or 24% (including VAT) per lot.

An additional fee of 1,5 % HT or 1,8 % TTC will be added for all internet buyers.

The lots preceded by * are under the regime of temporary importation in France. The buyer agrees to pay in addition to the main commission an import VAT of 5.5% on the auction price for furniture and works of art and 20% for jewelry, watches, wines or multiples.

The order of the catalog will be respected. However, the auctioneer conducting the sale reserves the right to change the order by informing the bidders.

The buyer will be the highest and last bidder. He will be obliged to give his name and address.

PHIDIAS will consider that the bidder present at the auction is the only one responsible for the bids made, even if he/she acts on behalf of a third party, unless a written mandate specifies otherwise.

In the event of a dispute at the time of the auction, i.e. if it is established that two or more bidders have simultaneously made an equivalent bid, aloud, by sign or by any other means, and claim the item at the same time after the word "adjudicated" has been pronounced, the said item will be immediately put back up for sale at the last price proposed by the bidders, and any member of the public will be allowed to bid again.

The transfer of ownership will be effective once the adjudication is pronounced, the purchaser then becoming entirely responsible for the lot(s) purchased. The buyer will be required to insure his lots and PHIDIAS or the expert will not be held responsible in case of damage.

The French State has a right of pre-emption on items sold at public auctions in accordance with the laws in force. This right is exercised immediately after the hammer has been struck, with the representative of the French State expressing the latter's wish to substitute for the last bidder. The pre-emption must be confirmed within fifteen days of the sale. PHIDIAS cannot be held responsible for the conditions of the pre-emption.

PURCHASE ORDERS

For persons unable to attend the sale, the purchase order or telephone bidding is a facility granted.

PHIDIAS or the auction expert cannot be held responsible for any error or omission in their execution or for any other reason.

The client is invited to verify that his order has been registered. Thus, any request for bidding by telephone or internet must be confirmed.

Purchase orders must be sent at the latest the day before the sale.

Any telephone bidding order presupposes a bidding order equal to the low estimate plus one bid.

The purchase order form must be completed by the bidders and sent to the address indicated.

All purchase orders received by PHIDIAS or by the expert remain confidential. In the event of identical orders for the same lot and for the same amount, the order that arrives first will be given priority, the date of receipt being taken as proof.

The signatory of the order undertakes to purchase the lot(s) allocated to him/her and to make payment on the first demand by choosing one of the methods of payment and/or delivery.

A purchase slip will be sent personally to each buyer.

PAYMENT

Payment must be made immediately after the sale:

- in cash (euros) up to 1000 euros commission and taxes included for French nationals or foreign nationals acting in a professional capacity. Up to 15000 euros commission and taxes included for non-professional foreign nationals only.

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