Estates, Collections & Luxembourg Art

I. Definitions

For the purposes of these Terms and Conditions, the following terms shall have the following definitions : Catalog : Paper and/or digital document indicating the Terms and Conditions of Sale, presenting and describing the items to be presented at a sale organized by GoldField Auction. General Sales Conditions (GSC) : Refers to the terms and conditions of a sale established by GoldField Auction. In particular, they specify the amount of buyer's fees. Automatic Bid : In the context of an Online Sale, a bid for a maximum amount recorded by a User in his or her Personal Account. During an Online Sale, the platform automatically places bids on behalf of the User, in indicated bidding steps, until the User is the successful bidder or until the maximum amount registered by the User is reached. Telephone Order : Bid transmitted by telephone to GoldField Auction during an Online Sale. Any person wishing to bid by telephone must, prior to the sale, send an email to GoldField Auction in order to transmit their contact details with a view to being called back at the time of the closing of the sale and to communicate the lot number for which they wish to bid. Purchase Order : A firm and definitive commitment to buy, at a maximum purchase price, transmitted by a User to GoldField Auction. GoldField Auction Platform : Platform allowing Users, who have previously created a Personal Account via the Site, to place Purchase Orders, place Automatic Auctions, and participate in the closing of Online Sales organized by GoldField Auction. Partner Platforms : Partner platforms independent of GoldField Auction. Drouot, Invaluable, The Saleroom, Lot-tissimo, Live Auctioneers, 51BidLive. Our General Terms and Conditions of Sale also apply to purchases via these Platforms. Site : GoldField Auction website. Bidder : Any person acting on his own behalf, in his own name and held personally responsible for payment of the lot(s) won even if he has acted as agent for a third party. Acquirer : Bidder who has won one or several lot(s) during the sale. Online Sale : Online sale organized by GoldField Auction, accessible from the GoldField Auction Platform and Partner Platforms.

II. Purpose The purpose of these GTC is to define the conditions under which GoldField Auction implements sales, as well as the rights and obligations of the Bidders concerned. III. Before the sale

A. Lot estimates Pre-sale estimates are provided for information only. Any bid within the range of the low and high estimates has a reasonable chance of success. Estimates are based on expert opinion or the accepted market price for the item in question. B. Condition of lots All items are sold in the condition they are in at the time of sale and without warranty. Descriptions and information (weight, measurements, material, condition, etc.) are given for information purposes only (PLEASE CHECK THE INFORMATION YOU CONSIDER ESSENTIAL BEFORE THE SALE). C. Display of lots The exhibition prior to the sale is open to all, by appointment. GoldField Auction is concerned about your safety on its premises, and makes every effort to display items in the safest possible way. Any handling of items is at your own risk. IV. The Sale Any changes to the catalog descriptions may be announced during the sale and will be countersigned in the Sales Minutes. The prices indicated are in EUROS and do not include selling expenses and applicable taxes. A. The Auction 1. Online Auctions It is possible to bid online on GOLDFIELD AUCTION (with video feedback) but also on LOT-TISSIMO, DROUOT DIGITAL, THE SALEROOM, INVALUABLE, LIVE AUCTIONNEERS and 51BIDLIVE. 2. Automatic Auctions The system automatically bids on another bidder until the defined maximum amount of the automatic auction is reached. 3. Purchase Orders GoldField Auction executes the Purchase Orders entrusted to them free of charge. Purchase Orders are a convenience for customers. Purchase Orders are accepted only after a request has been made at least 24 hours before the sale and confirmed by email. GoldField Auction cannot be held responsible for failing to execute an order by mistake or for any other reason. 4. Telephone Orders Telephone Orders are accepted after making a request at least 24 hours before the sale and after confirming by e-mail. Any person requesting a Telephone Order is deemed to have purchased at the low estimate.

GoldField Auction cannot be held responsible for failure to execute an order in error or for any other reason.

V.   After the sale

Winning bids will be confirmed to Buyers. They will be asked for their shipping and payment options. In accordance with articles L. 222-4, L. 222-9 and L. 222-10 of the French Consumer Code, the buyer/consumer has a right of withdrawal. The buyer/consumer has a period of 14 days after receipt of the purchased lot(s) to exercise his right of withdrawal. After dispatch or collection of the lot(s), the condition for exercising this right of withdrawal is the request, prior to the sale, for confirmation of the information/description elements that appear essential. The lots are supposed to be collected from our offices in Weiswampach. As delivery of the lot(s) is an optional service, delivery costs will not be reimbursed if the right of withdrawal is exercised. In addition, the buyer is responsible for the cost of returning the lot(s), and the lot(s) must be received by GoldField Auction in good condition, or at least in the condition in which they were sent by GoldField Auction. The right of withdrawal does not apply (even if the information has been confirmed) to precious metal objects (gold, silver, platinum, ...), precious stones (diamond, pearl, ...) and perishable goods (wine, ...). No claims will be accepted for wear and tear restorations and minor accidents, as the exhibition will have allowed examination of the items offered for sale.

A.   Fees

1.   Auction fees

For bids via the goldfield.auction website, via a Purchase Order, or via a Telephone Order, the purchaser will pay 28% in fees (all taxes included) in addition to the bid.

A supplement of 4% will be charged if the bids come from a partner platform: LOT-TISSIMO, DROUOT, THE SALEROOM, 51BIDLIVE, INVALUABLE and LIVE AUCTIONEERS.

2.   Resale rights

Extract from the Grand-Ducal regulation of August 25, 2006 on resale rights.

Art. 3 The minimum selling price for which droit de suite is levied is 3,000 euros, exclusive of tax.

The droit de suite is set as follows

4% for the first 50,000 euros of the sale price, excluding tax ;

3% for the portion of the sale price between 50,000.01 and 200,000 euros, exclusive of tax;

1% for the portion of the sales price between 200,000.01 and 350,000 euros, exclusive of tax;

0.5% for the portion of the sales price between 350,000.01 and 500,000 euros, exclusive of tax;

0.25% for the portion of the sales price exceeding 500,000 euros, exclusive of tax;

However, the total amount of droit de suite may not exceed 12,500 euros.

B.   Payment

The Buyer undertakes to pay the hammer price as well as the sale costs and taxes within 72 hours of the close of the sale.

Payment, in euros, may be made :

- in cash (less than €15,000) ;

- by credit card (VISA or MASTERCARD) ;

- by bank transfer (SEPA zone) to the following account:

Account holder: GoldField Auction

Bank: OlkyPay

IBAN: LU53 6060 0020 0000 0986

BIC: OLKILUL1XXX

The Buyer must indicate his name and the auction slip number when making payment.

C.   Removal of lot(s)

The lot(s) may only be collected after full payment has been received. In the case of payment by bank transfer, delivery of the items may be deferred until payment has been received.

D.   Storage charges

We strongly recommend that buyers take delivery of their lot(s) as soon as possible. GoldField Auction cannot be held liable in any way whatsoever for tolerating storage, as the item is under the buyer's exclusive guarantee as soon as the auction has been announced. Buyers who have not collected their purchase(s) within 30 days of the sale will be charged a storage fee of €5 per day per item.

E.   Shipment of lot(s)

Parcel delivery is a service offered by GoldField Auction. The buyer is entirely responsible for this shipment. In the event of loss, breakage or packages being blocked at customs, GoldField Auction cannot be held liable under any circumstances. The buyer can therefore never demand reimbursement. However, GoldField Auction will do its utmost to limit the risks, as this is a guarantee of means and not of results.

Certain lots are considered undeliverable by GoldField Auction (size, bulk, weight, etc.). GoldField Auction reserves the right to propose or not to propose the shipment of a lot(s).

1.   Geographic zones

Zone 1: Luxembourg, Germany, France, Belgium, Netherlands;

Zone 2: Azores, Austria, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Madeira, Malta, Isle of Man, Monaco, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden;

Zone 3: Albania, Andorra, Belarus, Bosnia-Herzegovina, Canary Islands, Faroe Islands, Georgia, Gibraltar, Guernsey, Iceland, Jersey, Liechtenstein, Macedonia, Moldavia, Montenegro, Norway, Russia, Serbia, Switzerland, Turkey, Ukraine, Vatican, Algeria, Egypt, Israel, Jordan, Morocco, Syria, Tunisia, USA, UK;

Zone 4: rest of the world;

2.   Prices (packaging and shipping - gross weight of item and packaging)

               ZONE 1 ZONE 2 ZONE 3 ZONE 4

from 0 to 1 kg 46 EUROS 77 EUROS 112 EUROS 140 EUROS

from 1 to 2 kg 53 EUROS 82 EUROS 134 EUROS 170 EUROS

from 2 to 5 kg 68 EUROS 93 EUROS 165 EUROS 280 EUROS

from 5 to 10 kg 88 EUROS 122 EUROS 272 EUROS 560 EUROS

from 10 to 20 kg 120 EUROS 170 EUROS 330 EUROS 600 EUROS

from 20 to 30 kg 152 EUROS 248 EUROS 380 EUROS 715 EUROS 

Packages over 30 kg cannot be shipped. Except in exceptional cases, at GoldField Auction's discretion and on quotation.

VI.  Miscellaneous information

Participation in a sale implies de facto acceptance of these conditions.

The special conditions of sale define, where applicable, for each sale, inter alia, the right of withdrawal granted to buyers/consumers and the conditions of implementation.

The courts of the Grand Duchy of Luxembourg shall have exclusive jurisdiction over any dispute relating to the interpretation or execution of the GTCS.