Part of the RUBEL & MENASCHE non-catalog collection

AUCTIONEERS

Christophe JORON-DEREM

Isabelle AUFAUVRE

Marcos ELIADES

CVV approval no.: 2002-401

46, rue Sainte-Anne - 75002 Paris

Phone: +33 (0)1.40.20.02.82

contact@joron-derem.fr

STUDY CONTACTS

Marcos ELIADES

Julie DISCAZEAUX

Tel: + 33 (0)1.40.20.02.82

contact@joron-derem.fr

CENTRAL REGION CORRESPONDENT

Philippe SMITS-LEFRANC

Tel: +33 (0)6.07.32.31.86

PUBLIC EXHIBITIONS

ROOM 12

Wednesday February 28, 11am to 6pm

Thursday, February 29, 11am to 12pm

Tel: +33(0)1.48.00.20.12

Catalog on line :

www.joron-derem.com

www.drouot.com

- Lots kept in the bank vault

- Delivery of lots to bidders ONLY by appointment with the firm, after full payment of the consignment note.

- Lots packaged in sealed bags

- Buyers' fees reduced to 10% excl. tax (12% incl. VAT)

CONDITIONS OF SALE

= Taking part in the auction means full acceptance of the conditions of sale.

= The auction is to be paid in full. Buyers will pay the hammer price as well as transaction costs : 10% excl. VAT (12% incl. VAT)

= All the purchases performed through DrouotLive platform will be overated by 1,5% pre-tax value.

= Clients not domiciled in France will not be able to claim their purchase until payment has been confirmed in full.

= Delivery of the item may be deferred until clearance of payment.

= Buyers are advised to proceed with the claiming of their purchases as soon as possible to avoid incurring handling and storage charges, which are their responsibility.

= The auctioneer is in no way held responsible for handling or storage. Buyers can obtain information concerning the delivery and shipping of their purchases immediately after the auction.

= An exhibition prior to the sale permits buyers to establish the condition of the items for sale and thus, no claims will be accepted after the hammer has fallen.

Upon request, a “condition report” description may be obtained before the auction.

= Potential buyers are invited to examine the goods that interest them before the auction and particularly during the exhibitions. The auction house Joron- Derem remains at the disposal of potential buyers for supplying reports on the condition of lots.

= Description of lots leading to catalogues, reports, labels and verbal indications or announcements are only the evaluation of Joron-Derem’s perception of lots and will in no way constitute proof of the fact.

= The indications given by Joron-Derem about the existence of reparation work, of an accident or incident affecting the lot are to facilitate the inspection by the potential buyer but the buyer’s appreciation of the lot remains his own or that of his specialist. Absence of any indication of the existence of reparation work, of an accident or incident affecting the lot in the catalogue, the reports, on labels or indicated verbally, does not exempt that lot from having a current, past or repaired defect. Equally, the mention of one defect does not eliminate the existence of other possible defects.

= The auction is regulated by the French auctioneer’s guarantees in force at the time of purchase. The size and weight are only given as an indication. Repairs carried out for general upkeep are not indicated. No claim is accepted concerning the condition of the item under its gilt, paint, lacquer or varnish. Relining, inlay work and varnishing are considered a means of conservation.

= The same applies to keys, locks, bronze and iron works that may have been replaced at some undetermined period and are not guaranteed.

The highest and last bidder will be the purchaser.

The Auctioneer and Specialists agree to follow all the buying orders that are given to them, in particular by amateurs not able to attend the sale.

= In the case of being unable to attend, a buyer can give a bid form to the auctioneer.

The auctioneer refuses any responsibility as to the execution of the bid form.

= If you wish to bid by telephone, you must make the request at least two days before the sale in writing or by fax with a cheque made out to Joron-Derem.

= As soon as the sale is over, the item will become the complete responsibility of the buyer.

= The buyer is entirely responsible for insuring his purchases and Joron-Derem refuses any responsibility for damage occurring to the item once the sale has ended.

The exportation licence formalities may take from 5 to 10 weeks, but this delay may be considerably reduced according to the rapidity with which the buyer instructs Joron-Derem.

= Any bidder is deemed acting on his own behalf except when prior notification, accepted by Christophe JORON-DEREM SARL, is given that he acts as an agent on behalf of a third party.

= Any buyer in the European Community, subject to VAT, must indicate his VAT identification number at the time of the sale, with a view to delivery in a member state and he has 30 days to complete formalities.

= A non-European Community buyer must indicate at the time of the sale that he intends to export the item and he has 30 days to provide the exportation justifications.

= The auctioneer refuses any responsibility concerning legal or fiscal consequences arising from a false declaration made by the buyer.

= The buyer acknowledges :

= Becoming the owner and the person responsible for items as soon as the auction is over.

= Taking on the risks and fees of handling and storage.

= Delivery of the items takes place after full payment.

= Potential buyers can ask to examine the items that interest them before the auction and particularly during the exhibitions.

= The Auction House Joron-Derem remains at the disposal of potential buyers for providing reports on the condition of items.

= Description of lots leading to catalogues, reports, labels and verbal indications or announcements are only the evaluation of Joron-Derem’s perception of lots and will in no way constitute proof of the fact.

= The indications given by Joron-Derem about the existence of reparation work, of an accident or incident affecting the lot are to facilitate the inspection by the potential buyer but the buyer’s appreciation of the lot remains his own or that of his expert. Absence of any indication of the existence of reparation work, of an accident or incident affecting the lot in the catalogue, the reports, on labels or indicated verbally, does not exempt that lot from having a current, past or repaired defect. Equally, the mention of one defect does not eliminate the existence of other possible defects.

= Lots from outside the EU (lots preceded by *): in addition to the commissions and taxes indicated above an additional import TVA will be charged (5,5% of the hammer price).

This additional import TVA will be refund if the lot sold leaves the EU.

= This English language translation is provided for your convenience. These conditions of sale as drafted in the French language shall be the binding text. Any disputes concerning the interpretation of these terms shall be subject to the jurisdiction of the competent French court.

= A hyphen in front of the lot number indicates that the lot belongs to a person working for the auction house.

= In case of succesfull biding on ivory or horne lots, the bidder commission in his name the buying declaration planed by the article 2bis of the 08/2016 decree related to the trade prohibitionof elephants and rhinos

= The Storage is the responsability of the new owners and will have to be payed to the Hotel Drouot

= Any auction invoice that remains unpaid with the Christophe Joron-Derem auction house or that has been the subject of a delay in payment is subject to registration in the TEMIS file.