The activities of Rossini SA, Société Anonyme with a capital of 470.000€ (Paris Trade Register No B 428 867 089), are governed by the Terms and conditions of purchase herewith, which are enforceable against vendors, bidders and buyers as well as their agents
The relationships between Rossini SA and the buyer are subject to the present general terms and conditions of purchase which can be modified by saleroom notices or oral indications given at the time of the sale, which will be recorded in the official sale record.
Participation in the sale constitutes acceptance of the Terms and Conditions of purchase herewith. The Terms and Conditions herewith, every sale and everything related thereto are governed by French law.
Relationship between seller and Rossini
Rossini is a company of voluntary auction sales regulated by the law of the 10 July 2000.
In such capacity Rossini acts as the agent of the seller who contracts with the buyer.
The vendor warrants to Rossini and to the buyer
-that he/she is the uncontested owner or that he/she is duly authorised by the uncontested owner of the property offered for sale, that the property is free from all claims, seizures, links, repurchase agreements, rights, charges, warranties, or securities of any kind and that he/she may fully and validly transfer the ownership of the said property;
- that the property conforms with French customs regulations;
- that he/she has provided to Rossini all the information concerning the property, offered for sale, in particular all the information regarding title of the ownership, authenticity, provenance and tax and/or customs obligations.
The vendor expressly confers to Rossini the right to advert and/or photograph and reproduce, to engage any arrangement fees, handling, storage and shipping charges judged necessary; and accepts Rossini to be represented by any experts or specialists of his choice.
c) Reserve price: The Reserve is the (confidential) minimum Hammer Price at which the Seller has agreed to sell a lot. As of July 10th, 2000, it cannot be higher than the low estimate made public.
Should the property not have a reserve price, Rossini may not be held liable vis-à-vis the vendor if the property is sold at a price below the low pre sale estimate published.
d) Seller's commision
The vendor undertakes to pay Rossini a vendor commission as well as any sales expenses. The calculation and the amount of the vendor's commission will have been formerly defined.
e) Payment to consignor
After the payment has been made in full by the buyer, payment in Euros to consignors is made by Rossini 45 days after the date of the sale, together with a final settlement statement.
The amount of payment is the hammer price of each lot successfully sold, less the commission, any other fees and sale expenses due to Rossini as well as taxes (taxe forfaitaire), droit de suite, reproduction rights, or guarantee costs, pursuant to the applicable law. The vendor undertakes to provide to Rossini all information requiered to determine if any of the above mentioned taxes or rights are applicable or not.
f) Folle enchère (Crazy Bid)
By exemption, clause 14 from law from the 10th of July 2000 stipulates: «Should the buyer fail to pay the amount due, and after notice to pay has been given by Rossini to the buyer without success, the lot is re-offered for sale at the seller’s request, under the French procedure known as “procédure de folle enchère”(crazy bid). If the seller does not make this request within two months from the date of the sale, the sale will be automatically cancelled, without prejudice to any damages owed by the defaulting buyer».
g) Withdrawal of property
If any lot is withdrawn from the sale, after signature of the sale agreement by the vendor, or by Rossini following the breach by the vendor of any of his/her warranties or obligations, or following an opposition formulated by a third party or in application of a judicial decision, regardless of the nature of the action, the vendor shall pay Rossini a withdrawal fee equal to 15 % of the pre-sale mid estimate and shall reimburse all expenses incurred by Rossini.
h) Expertise and catalogue descriptions
Rossini shall exercise such due care when making express statements in catalogues descriptions as amended by any sale room notices psted in the sale room or by annoucement made by the auctioneer at the beginning of the auction and noted in the minutes of the sale, as is consistent with its role of an auction house and in the light of the information provided to it by vendor, of the scientific, technical and artistic knowledge and the generally accepted opinions of relevant experts, at the time any such express statement is made.
a) Withdrawal of property
Rossini may withdraw any property from the sale, without any liability, for a legitime reason, such as breach of vendor's warranties or obligations, or legitime doubt regarding the authenticity of the property proposed for sal or following an opposition formulated by a third party or in application of a judicial decision regardless of the nature of the action.
b) Direction of the sale
The auctioneer, authorized to direct the sale, conducts it with discretion it and is entitled to take any action he considers as acceptable
- At the beginning of the auction, the auctioneer shall inform bidders of the rules of the sale and for placing bids ;
- The auctioneer is entitled to place consecutive and responsive bids bids on behalf of the vendor until the reserve price is achieved;
- The auctioneer may reject any bids which are not made pursuant to the conditions herein and pursuant the law ;
- Pursuant to the law, the auctioneer is entitled to combine or divide the property into lots as well as to withdraw lots before or during the sale ;
- The auctioneer is entitled to determinate the buyer. In case of doubt, during or after the sale, at his discretion, the auctioneer may cancel the bid or the sale and continue the auction..
The purchaser is the highest and last bidder. He becomes the owner of the item upon full payment of the hammer price plus commissions, expenses and taxes to Rossini. Without regards to these conditions of transmission of the title deed as just mentionned, the buyer is responsible for the good he just bought on price hammered, and, to this extent, is in charge of all risks pertaining to the asforesaid good at this point of time.
d) Pre-emption of the French state
The French state in entitled to use a right of pre-emption on works of art, pursuant to the rules of law in force.
The use of this right comes immediately after the hammer stroke, the representative of the French state expressing then the intention of the State to substitute for the last bidder, provided he confirms the pre-emption decision within fifteen days.
Rossini will not bear any liability/responsibility for the conditions of the pre-emption by the French State.