20th-Century Work - Lot 656

A great auction at Galerie Moderne on October 7 at 2 p.m.,

lots 557 through 804 --> 414 Chaussée de Waterloo, 1050 Ixelles.

Public viewing at 10 rue de la Grange Batelière, 75009 Paris

—Monday, September 14, through Friday, September 18, from 11 a.m. to 6 p.m.

Public viewing at the Cercle Royal Gaulois --> , 5 Rue de la Loi, 1000 Brussels

- October 2 from 10 a.m. to 7 p.m.,

-October 3 from 10 a.m. to 7 p.m.,

- October 4, from 10 a.m. to 7 p.m.

The hammer price plus a 28% fee (including tax); please note that for any purchase made via digital platforms, this fee will be increased by an additional 2%.

GENERAL TERMS AND CONDITIONS OF PURCHASE

These General Terms and Conditions of Purchase apply to all purchases made in connection with a public auction organized by Galerie Moderne SRL (Chaussée de Waterloo 414, 1050 Brussels, BCE 1028.208.611).

These general terms and conditions of purchase are reproduced in the catalog, on the website https://galeriemoderne.be, and in excerpts on the written bid forms and telephone communication request forms. Excerpts will also be read aloud at the start of the sale. All buyers are deemed to be fully aware of these terms and conditions and to accept them by virtue of the purchase itself.

1. The Buyer

The sale takes place by auction to the highest bidder. The buyer is the successful bidder (the person to whom a lot is awarded). In the event of a dispute, only the bailiff or auctioneer present may decide that the lot will be re-auctioned. Every buyer is deemed, in relation to Galerie Moderne, to be acting in their own name, even for lots they may have acquired as an agent. The buyer shall provide Galerie Moderne with their name, address, telephone number, ID card or passport, as well as any information, particularly banking details, that may be requested by Galerie Moderne.

2. Description of Lots

Lots are offered for sale with all their imperfections, defects, and any errors in their description. Galerie Moderne is not liable for any errors in the description or valuation of lots, which are provided for informational purposes only. The same applies to the artist, signature, date, provenance, attribution, origin, authenticity, and/or condition of the lots. The buyer shall form their own opinion regarding the lot, and once the lot has been sold, no claims of any kind will be accepted, even if they pertain to the description in the catalog.

3. Condition Report

Any request for a condition report must be made by 5:00 p.m. on the day before the sale. No requests will be processed after this deadline. No claims will be accepted if you have not requested a condition report prior to your purchase.

4. Written Buy Order

Buy orders may be sent to Galerie Moderne no later than 5:00 p.m. on the day before the sale, by mail or email. The bidder must clearly state their identity, the lot(s) they wish to bid on, and their purchase order(s). Galerie Moderne is not responsible for errors made by the client in indicating the lot number(s) or for delays in transmitting the order. If two purchase orders are for the same lot and the same amount, preference will be given to the purchase order received first.

5. Telephone Bidding

A written request to participate in the auction by telephone may be submitted to Galerie Moderne no later than 5:00 p.m. on the day before the auction, by letter or email. The bidder must clearly state their identity, specify the lot they wish to bid on, and provide any information requested by Galerie Moderne, which reserves the right to request bank references. By requesting a telephone bid, the bidder irrevocably agrees to bid at least the low estimate. Galerie Moderne is not responsible for any errors made by the client in indicating the lot number(s) they wish to purchase or the phone number where they should be reached, nor for any communication issues (busy lines, dropped calls, network failures, computer problems, etc.).

If Galerie Moderne is unable to contact the customer, the customer agrees that bids may be placed on their behalf up to the lower estimate listed in the catalog or the amount the customer has specified in their written request. In the event of identical bids placed online and in the auction room, a bid made in the auction room always takes precedence.

6. Sale Price

The buyer agrees to pay Galerie Moderne, without prejudice to the resale right referred to in Article 7 and/or the surcharges referred to in Article 8:

- An administrative fee of 10 euros (including tax) per slip summarizing all purchase orders;

- The hammer price plus 28% in fees (including tax), it being specified that for any purchase made via digital platforms, these fees will be increased by an additional 2%.

7. Resale Right

Pursuant to Articles IX.175 et seq. of the Economic Code, which impose a tax on public sales of works of art for the benefit of the artists and authors of the works sold, the buyer must pay, in addition to the sale price, a resale right calculated on the pre-tax sale price (provided that the sale price is at least 2,000 EUR), which amounts to 4% for the portion of the sale price up to 50,000 EUR, 3% up to EUR 200,000, 1% up to EUR 350,000, 0.5% up to EUR 500,000, and 0.25% above that amount, provided that the resale right may not exceed EUR 12,500 per work of art and per resale. The resale right expires when the artist has been deceased for more than 70 years.

The resale right is collected by Galerie Moderne and remitted to the relevant tax authorities.

Galerie Moderne makes every effort to announce the application of the resale right on a work at the time of sale. However, if it turns out after the sale that a work not announced as such is subject to the resale right, Galerie Moderne will be legally obligated to claim the resale right from the buyer at the time of payment, pickup, or even after pickup, with the buyer expressly waiving any recourse of any kind and irrevocably agreeing to pay the resale right upon first request.

8. Payment – Invoicing – VAT

Upon the lot being sold to a buyer, ownership of the lot is transferred to the buyer at the time of sale, such that the risks are borne by the buyer. Payment must be made within 5 calendar days of receipt of the invoice. Payment is made in cash in euros (EUR).

Galerie Moderne accepts cash payments up to a maximum amount of 3,000 EUR. If the sale amount exceeds 3,000 EUR, the buyer may pay up to 3,000 EUR in cash, but the balance must be paid electronically (Bancontact debit card, Visa, or Mastercard).

The sale price, calculated in accordance with Article 6, will be increased by:

- 2% of the total for any payment made by Visa or Mastercard;

- 4% of the total for any payment made via payment links (QR code).

After the sale, the buyer agrees that they cannot change the buyer’s name and/or split a purchase invoice. The buyer therefore undertakes to:

- Register each buyer as a bidder for the lot(s) they wish to acquire;

- Ensure that payment is made exclusively by the person whose name appears on the purchase.

9. Pickup of Lots

Lots are not picked up during the auction. The buyer agrees to pick up the lot(s) or have them picked up at their own expense by a carrier of their choice no later than 7 calendar days following the auction and after full payment has been made. Any lot not collected within the specified time limit will be stored at the buyer’s expense, at a flat rate of 5 EUR per lot per day of delay. Galerie Moderne is not liable for any damage or loss occurring during the storage, packaging, handling, or transport of the purchased lots.

10. Non-payment or Failure to Pick Up Lots

In the event of failure to pay for the lot and/or to pick it up within the specified time limit, the buyer shall be liable, without prior notice, for late payment interest of 2% per month, effective from the end of the pickup period. Galerie Moderne is further authorized, at its discretion and without prejudice to any other rights or remedies, to take the following action(s) after sending a formal notice by certified mail:

- Store the lot, insure it at the buyer’s expense, and release it only after full payment of storage and/or insurance costs;

- To compel the buyer by legal action to pay and/or collect the lot, if necessary under penalty of a daily fine;

- Cancel the sale of the lot and, if applicable, other lots acquired during the same sale or previous sales;

- Resell the lot at public auction, with any shortfall compared to the first sale to be borne by the defaulting buyer, as well as the costs associated with the resale; the defaulting buyer may not claim any amount in the event of a surplus from the resale;

- Retain any other lot sold to the buyer during the same sale or during previous sales until the total amount has been paid;

- Sell any property belonging to the buyer and held in consignment at Galerie Moderne, with the proceeds applied toward payment of the amounts owed by the buyer;

- Refuse any subsequent bids made by the defaulting buyer or on their behalf.

11. Disputes

In the event of a dispute, Belgian law shall be the sole applicable law, and the courts of the judicial district of Brussels shall have exclusive jurisdiction.