Prestige Sale - Modern Paintings

HÔTEL DROUOT - Room 9

tuesday, november 25, 2025 - 2:00 pm

AUCTIONEERS

Christophe JORON-DEREM

CVV approval no.: 2002-401

46, rue Sainte-Anne - 75002 Paris

Tel: +33(0)1.40.20.02.82

contact@joron-derem.fr

STUDY CONTACTS

Julie DISCAZEAUX

Charles-Alban de PONTANEL

Bénédicte ZAKINE

Tel : + 33(0)1.40.20.02.82

contact@joron-derem.fr

PUBLIC EXHIBITIONS

ROOM 9

Saturday, November 22nd, 11am to 6pm

Monday, November 24, 11am - 6pm

Tuesday, November 25, 11am to 12pm

Telephone during exhibitions and sales

+33(0)1.48.00.20.09

Adagp, Paris, 2025

EXPERTS :

ESTAMPES

Sylvie COLLIGNON

Member of SFEP

+33(0)6.11.11.79.00

collignonsylvie@cegetel.net

Lots 1 to 15 and 23

ANTIQUE PAINTINGS

René MILLET

+33(0)1.44.51.05.90

expert@rmillet.net

Lot 163

MODERN PAINTINGS

Alexis BRIMAUD

+351.937.460.224

alexbrimaud@gmail.com

Lots 22, 32, 34, 44 to 46, 48 to 52

MODERN PAINTINGS

CABINET MARECHAUX

Elisabeth MARECHAUX

Member of SFEP and expert for the Paris Court of Appeal

Tel: +33(0)1.44.42.90.10

cabinet.marechaux@orange.fr

Lot 63

CONSULTANT :

Pascal PERRIN

+33(0)6.88.89.71.07

pascalperrin.art@gmail.com

Lot 83 and for the painting by Pierre-Auguste RENOIR, lot 164

Conditions of Sale – Buyer

• By registering and/or bidding, you confirm that you have read and fully accepted the following Conditions of Sale.

• The highest and last bidder will be the purchaser.

• Christophe JORON-DEREM auctionhouse acts as agent for the sellers.

Before the Sale

Condition of the work presented

• The works are sold as is, without warranty or commitment as to its condition from Christophe JORON-DEREM auctionhouse or the sellers.

• 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.

• Condition notes in the catalogue or in a condition report are not exhaustive.

• Complimentary condition reports may be provided on request, for information purposes only. This statement has been drafted in good faith, but we would like to remind you that we are not professional restorers and that this statement, written in accordance with the terms and conditions of sale printed in our sales catalogs, does not replace or modify the description provided in the catalog. In no way does this service engage the liability of our auction house.

Colours may differ between screen/paper and physical inspection.

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 indications given by Christophe JORON-DEREM auctionhouse 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.

Pre-sale exhibition

• Prior to bidding, the bidder shall have examined the work personally or through a qualified representative. Advice from a restorer and/or professional is recommended.

• The exhibition is free of charge and open to all.

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.

• Experts and the Christophe JORON-DEREM auctionhouse team are available to answer questions during the exhibition or by appointment.

• By appointment with our experts, some works may be presented to bidders prior to the official exhibition dates at Drouot, if conditions permit.

Estimates

• Provided upon request, estimates are based on the condition, rarity, quality, provenance, and recent results for comparable works.

• Estimates may vary and are neither a forecast nor a guarantee of the final price or value.

• Estimates are given exclusive of fees and taxes.

Registration to bid

• Only buyers who have duly registered with Christophe JORON-DEREM auctionhouse will be entitled to bid.

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

New bidders

• First-time participation (or no purchase with Christophe JORON-DEREM auctionhouse within the past 2 years): registration required at least 48 hours prior to the sale for verification. Christophe JORON-DEREM auctionhouse reserves the right to refuse registration.

•Required documents:

- Individuals: valid photo ID + proof of address if not stated an ID.

- Companies: certificate of incorporation (Kbis or equivalent) + documents regarding directors/beneficial owners.

- Trusts / associations / joint ownership / foundations and museums: documents evidencing legal existence, as well as mandates and details of the agent or representative.

- Agents/mandatories: photo ID + written authorization (business card alone not sufficient).

- A bank reference and/or security deposit may be required, for identified lots.

Missing documentation

If the above procedures are not complied with Christophe JORON-DEREM auctionhouse may refuse registration or cancel the sale..

Bidding on behalf of a third party

• The third party must be preregistered and provide the bidder with written authorization, which must be submitted to Christophe JORON-DEREM auctionhouse.

• Undisclosed agency: the bidder remains personally liable for payment and guarantees to have carried out due diligence regarding the ultimate buyer, particularly with respect to anti-money laundering regulations, and to provide supporting documents upon request for 5 years.

• Unless otherwise agreed in writing naming an accepted third party, each bidder is personally liable for payment.

Bidding services (offered free of charge, without liability of Christophe JORON-DEREM auctionhouse in case of failure/errors)

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

• 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.

• The completed absentee bid form must be received at least 24 hours prior to the sale, in euros, subject to prior registration; in the event of identical bids, priority is given to the earliest received.

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 email with a cheque made out to Christophe JORON-DEREM auctionhouse, and copy of a valid ID card.

• Via Internet on Drouot Digital Live: subject to validated prior registration; additional fees charged by the platform amount to 1,5% without VAT (1.8% incl. VAT) in addition to the hammer price.

• As this is a free service provided at the request of bidders, Christophe JORON-DEREM auctionhouse is not subject to any obligation of result.

During the Sale

Powers of the auctioneer

• The auctioneer may refuse access to the saleroom, refuse a bid, reopen bidding after the hammer has fallen, or cancel/resell in case of error or dispute. The auctioneer’s decision is final.

• The auctioneer reserves the right to withdraw a lot if he deems the bids insufficient.

Sources of bidding

In-room, by telephone, via Internet (Drouot Digital Live), and by absentee bids.

Bidding increments

Bidding starts below the low estimate and advances in increments at the auctioneer’s discretion.

Currency conversion

Any amounts displayed in other currencies online or on the conversion screen during the sale are indicative only; Christophe JORON-DEREM auctionhouse makes no commitment as to exchange rates.

Hammer price

• At the fall of the hammer, the last bid is accepted, forming a contract between the sellers to the estate and the successful bidder.

• The invoice is issued solely in the name of the successful bidder or their accepted principal. In case of absentee bids, the bidder must promptly contact Christophe JORON-DEREM auctionhouse after the sale to know the outcome and avoid storage charges.

Applicable Law and Jurisdiction

• The sale is conducted under French laws and regulations.

• French law applies; Paris courts have jurisdiction.

• Mediation may be considered before judicial action, if both Christophe JORON-DEREM auctionhouse and the buyer agree.

• Civil liability claims relating to voluntary sales are time-barred five years from the sale (Art. L.321-17 French Commercial Code).

Buyer’s Premium and Taxes

Buyer’s premium (in addition to the hammer price)

The auction is to be paid in full. Buyers will pay the hammer price as well as transaction costs :

25% without VAT + 20% VAT (= 30% incl. VAT)

For the book sales :

25% without VAT + 5,5% VAT (= 26,37% incl. VAT)

Sliding scale fees regarding lot 164 (painting of Renoir) :

• From €1 to €850,000: 27% + VAT at 20% (i.e. 32.4% incl. VAT).

• From €850,001 to €4,000,000: 22% + VAT at 20% (i.e. 26,4% incl. VAT).

• Above €4,000,001: 14% + VAT at 20% (i.e. 16.8% incl. VAT).

• No artist’s resale right on this lot

VAT and export

French and EU tax/customs regulations apply.

• VAT on the margin scheme applies for second-hand goods/works of art: non-recoverable by the buyer.

• Export: VAT exemption on fees may apply if export takes place within 3 months and proof is provided; a deposit equal to the VAT may be required and refunded upon proof of export.

Consult your tax advisor regarding VAT matters.

Artist’s resale right

Artist’s resale right, when it is due, is the responsibility of the seller.

Right of Pre-emption

The French State may exercise its right of pre-emption over the work (Art. L123-1 and L123-2 French Heritage Code), by substituting itself for the last bidder. Confirmation is made within 15 days. Christophe JORON-DEREM auctionhouse bears no responsibility for pre-emption decisions.

Guarantees (sellers)

The sellers to the estate guarantee:

• Their ownership rights to sell;

• Their ability to transfer clear title, free of third-party claims.

Payment

Terms

• Sales are payable in full immediately: hammer price+ premium + applicable taxes/VAT.

• Deadline: no later than 7 calendar days after the sale.

• Payment may only be made by the registered bidder; the name on the invoice cannot be changed.

• Payment in euros, by secure bank transfer to :

CHRISTOPHE JORON-DEREM (BRED)

IBAN : FR76 1010 7002 9300 4200 4567 297

BIC : BREDFRPPXXX

Reference: sale number, invoice number.

Transfer of title and risk

• As soon as the sale is over, the item will become the complete responsibility of the buyer. Risk passes to the buyer at the fall of the hammer.

• Title passes upon receipt of full payment.

• The buyer is entirely responsible for insuring his purchases as soon as the sale is over, and Joron-Derem refuses any responsibility for damage occurring to the item once the sale has ended. The exportation licence formalities may take from 4 months, but this delay may be considerably reduced according to the rapidity with which the buyer instructs Joron-Derem.

AFTER THE SALE

Default of payment

• After formal notice remaining unsuccessful: resale at the buyer’s risk (“folle enchère”) may be pursued by the sellers (Art. L.321-14 French Commercial Code).

• Christophe JORON-DEREM auctionhouse may also: charge statutory interest, initiate legal proceedings, offset sums due, refuse future bids or require deposits, exercise liens, resell the work and charge any shortfall and costs to the defaulting buyer, and record the incident internally.

• If Christophe JORON-DEREM auctionhouse partially settles the sellers, it is subrogated in their rights against the buyer.

Retention right

• Christophe JORON-DEREM auctionhouse may retain, manage or sell the work until full payment by the buyer; any surplus is returned to the buyer, any shortfall remains due.

Collection and Delivery of Purchases

• The work may only be collected once it has been paid for in full.

• Purchased lots may be collected free of charge until 7 p.m. on the evening of the sale and between 8 a.m. and 10 a.m. the following day at the auction venue.

• After 10 a.m. on the day after the sale:

• Large or heavy lots will automatically be stored at the Hôtel Drouot warehouse: 6 bis, rue Rossini - 75009 Paris.

This storage service is at the expense of the successful bidder until the auction invoice and storage fees indicated on the drouot.com website have been paid.

• Small lots may be collected from the offices: 46, rue Sainte Anne - 75002 Paris.

Items will be stored free of charge for two weeks after the sale. After this 15-day period, storage fees, payable directly to the auction house, will be €10 (euros) per day per item.

If the invoice exceeds the auction price, the goods will be discarded.

Christophe Joron-Derem will not provide any packaging or shipping services.

The buyer is free to use any transport company or freight handler of their choosing.

Export / Import

• The work may be subject to specific export/import regulations depending on the destination country.

• The sale cannot be cancelled in case of refusal or customs seizure. The buyer must pay the invoice in full even if authorization is delayed or denied.

• The buyer is responsible for taxes and duties related to export/import.

• The contact details of a freight forwarder are provided on the first page of the catalog.

Miscellaneous Provisions

• The sale may be cancelled if the transaction appears unlawful, entails excessive liability, or damages the reputation of Christophe JORON-DEREM auctionhouse

• Recordings: sales may be filmed/recorded (data processed in accordance with legal obligations and, unless opposed, for operational/marketing purposes). Public recordings cannot be made without consent.

• Copyright: Christophe JORON-DEREM auctionhouse holds copyright on images/texts produced; their use is subject to written authorization.

Catalogue

• Severability: if any clause is invalid, the remainder remains applicable.

• Assignment: the buyer may not assign rights or obligations without prior written consent.

• Translation: in case of discrepancy, the French version prevails.

• Personal data: collected and processed for sales activity and legal obligations; rights of access/rectification/deletion via Christophe JORON-DEREM auctionhouse contact; may be shared with authorities

as required.

• Waiver: no tolerance shall constitute a waiver of Christophe JORON-DEREM auctionhouse’ rights.

• 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