Pair of earrings set with pearls In yellow gold 14 Karat, each one decorated with nine pearls of

Buyer's premium:
28% VAT INC.

General terms and conditions of sale relating to the purchaser

(Free translation of the original French text, which prevails in case of discrepancy)

Article 1. ‘Haynault Public Auctions’ in this text refers to Haynault SPRL (BCE nº 0631.780.992), its managers, personnel, consultants, and experts in the execution of their duties for Haynault SPRL, and its representatives.
The following terms and conditions apply to all public auctions organized by Haynault Public Auctions. The purchaser shall be deemed to have agreed to them without reservation simply by participating in the auction. There shall be no exemption from these terms and conditions except by written confirmation from Haynault Public Auctions.

These terms and conditions shall be included in any catalogues, as well as on the website at www.haynault.be and are available at the reception during auctions. Extracts thereof shall also be announced at the opening of auctions.

Description of lots – exhibition

Article 2.

1. Description of lots

(a) Description refers to any communication in writing, drawings, or photographs, verbal or electronic, made by Haynault before, during or after the public auction, relating to any feature of a lot offered for public auction, whether pertaining to its characteristics, its condition, its authenticity, the identification of its artist, etc.

(b) Certain words used in the catalogue descriptions have specific meanings. Greater detail is provided on the page entitled "Important notices and explanation of cataloguing practices".

(c) Any description of a lot, particularly relating to its nature or condition, its artist, its period, its materials, its approximate dimensions or its provenance, are an expression of our perception of that lot, and should not be considered factual or taken as proof of fact. We do not carry out extensive research such as that done by professional or academic historians. The dimensions and weight are provided for reference purposes only.

2. Lot condition

(a) The condition of lots sold at our auctions can vary considerably based on factors such as age, variations in temperature and humidity, previous deterioration, restoration, repairs, and wear. By nature, they are rarely in mint condition. Lots sold "in present condition", i.e. "as is", in the condition they are in at the moment of sale, are without any warranties or responsibility on Haynault’s part as to their condition or fitness for a particular use.

(b) Any reference to a lot’s condition in a description shall not constitute a comprehensive report of its condition. Please note that images may not provide a clear picture of a lot. Colours and nuances may appear different on paper or on screen from their actual appearance when inspected in person.

(c) Condition reports may be available for certain lots to assist purchasers in evaluating them and are provided for reference purposes only.

Any mention in the description of existing restoration, damage, or an incident affecting the lot is communicated to facilitate its inspection by a potential purchaser and remain subject to personal or expert assessment. The absence of such mention in no way implies that a work is free of any present, past or repaired defects. Conversely, the mention of a defect does not imply the absence of any other defect, as members of our personnel are not professional conservators or custodians. Such mentions cannot replace personal examination of the lot by the purchaser or an expert.

3. Our responsibility with regard to the description of lots

We provide no warranty with regards to lot descriptions.

4. Website - exhibition 

The website and online catalogue are also made available for reference purposes only, with the printed version of the catalogue prevailing in the event of discrepancy.

With regards to jewellery, the colours and quality of the stones are provided, upon request, for reference purposes only, as it is not possible to remove the stones from their setting.

Any party purchasing online, by phone, or via written purchase order, shall be deemed to have inspected the lot or lots, and may not contest the purchase in the event the items are inconsistent. Photos and additional details may be requested prior to any purchase.

Any damage to a lot or lots included in the catalogue, to other goods, or to parties during the deposition, exhibition, purchase, or collection of goods, shall be compensated by the party responsible, with Haynault Public Auctions bearing no responsibility.

Purchase orders

Article 3. Any purchaser who so wishes may submit written purchase orders. In this case, the purchaser must submit their purchase orders at the latest 2 hours before the auction starts, provide their identity and any information requested by Haynault Public Auctions, who reserves the right to request bank details. Haynault Public Auctions disclaims any responsibility for errors either in a customer’s indication of the lot they wish to acquire, or in the re-transcription of a partially illegibly-written purchase order. If two purchase orders are submitted for the same lot, at the same bidding price, preference will be given to the order that arrived first.

Telephone bidding

Article 4. Any purchaser who so wishes may participate in the auction by phone. In this case, the purchaser must confirm their participation in the auction 24 hours in advance by letter, fax, or e-mail, providing their identity and any information requested by Haynault Public Auctions, who reserves the right to request bank details. Haynault Public Auctions disclaims any responsibility for errors either in a customer’s indication of the lot they wish to acquire, or in their phone number, nor for any telephonic issues that may arise, (busy line, disconnections, mobile, etc.).

Online bidding

Article 5. Any purchaser who so wishes may submit purchase orders or participate in the auction online. In this case, the purchaser must register 24 hours in advance and provide their identity and any information requested by Haynault Public Auctions, who reserves the right to request bank details. Haynault Public Auctions also reserves the right to accept or refuse the registration and disclaims any responsibility either for errors in a customer’s indication of the lot they wish to acquire, or for any technical issues of any kind that may arise.

The sale

Article 6. Bidding shall be carried out by means of purchaser number, verbally or by a signal unequivocally reflecting the intention to bid. Haynault Public Auctions reserves the right to refuse offers from purchasers who have not registered prior to the auction or offers made in bad faith. The usual bid amount is set between 5 and 10% above the previous bid, per the following rule: up to 200 €, by 10 €; from 200 to 500 €; by 20 or 30 €; from 500 to 1,000 €, by 50 €; from 1,000 to 2,000 €, by 100 €, etc. The auctioneer reserves the right to accept half bids as long as they exceed the upper estimate amount.

Haynault Public Auctions reserves the to divide, combine, or remove lots without any justification.

The lot will be auctioned to the highest bidder, who shall be required to pay the auction price to the accountant, including fees and any applicable droit de suite, as outlined in article 8.

Immediate dispute during the auction

Article 7. In the event of immediate dispute or error during auctioning, the lot will be offered a second time. The presiding bailiff will adjudicate on any dispute arising during the bidding.

Fees and payment

Article 8. Any risks relating to objects sold shall be transferred to the acquirer at the close of the auction. Between sale and delivery, Haynault Public Auctions shall retain the goods and ensure their safekeeping. Ownership of the objects sold shall only be transferred to the acquirer upon payment of the object price, including sales fees and any shipping, handling, and insurance fees, if applicable.

All purchasers shall be deemed to have acted for their own account and will be personally liable for lots which they are authorized to acquire for another party. They shall be held personally responsible for payment before collection.

The following payment methods are accepted:

• payment in cash (with a maximum of 2,999 euros per purchase order)
• payment by debit or credit card (Bancontact/Mistercash/Visa/Mastercard), this method is only available when picking up the lots in person.
• payment by certified check
• wire transfer credited to Haynault Public Auctions’ account on the date of collection of the lots.
• payment by foreign check (± 10-day deadline for cashing, acceptance left to the discretion of management)

In the event of payment by non-certified check, delivery of objects may be deferred until the check is cashed.

 All sales are subject to the special margin scheme, non-deductible VAT (ECC residents).

 Droit de suite / Resale right

Article 9. The sale of certain original works is subject to droit de suite (resale rights) for the benefit of the artist or their heirs, if the artist has died less than 70 years ago.

Droit de suite is collected by Haynault Public Auctions and transmitted to organizations with collection authority (SABAM-SOFAM), as provided for in current legislation.

Droit de suite is calculated based on the pre-tax sale price, for minimum sales of € 2,000. The droit de suite amount is set as follows:

·         4% for sale prices up to € 50,000

·         3% for sale prices between € 50,000.01 et € 200,000

·         1% for sale prices between € 200,000.01 et € 350,000

·         0.5% for sale prices between € 350,000.01 et € 500,000

·         0.25% for sale prices over € 500,000

However, the maximum amount of droit de suite may not exceed € 12,500 per work of art (per resale).

Haynault Public Auctions takes every measure possible to announce during an auction the potential application of droit de suite to a lot. However, as the determination of such application is complex, Haynault Public Auctions disclaims any responsibility as to the later determination of droit de suite application post-sale. In such case, Haynault Public Auctions is legally obligated to collect the droit de suite from the purchaser at the time of payment, and the buyer expressly disclaims any recourse of any kind, and irrevocably agrees to pay the droit de suite upon first request.

Non-payment

Article 10. In the event of non-payment for a lot within 5 days, the buyer shall owe, without prior notice, late interest of 2% per month, counting from the end of the collection deadline.

Furthermore, Haynault Public Auctions expressly reserves the right to take the following measures of their choice, subject to all other rights and claims, and after notice of their choice by simple or registered letter or e-mail:

a-  storing the lot, insuring it at the expense of the purchaser, and refusing delivery until full payment has been made;
b-  legally constraining the purchaser to pay for and/or collect the lot, under penalty of periodic fines;
c-  cancelling the sale of the lot and of any other lots that may have been acquired as part of the sale or previous sales;
d-  offering the lot for second auction at the risk of the defaulting purchaser, with any deficit from the first sale at the expense of the defaulting purchaser, as well as resale fees, with the defaulting purchaser disclaiming any benefit from the resale;
e-  retaining the hammer price of any other lot sold by the defaulting purchaser during the same auction or during previous auctions until the total amount has been paid;
f- selling any good belonging to the purchaser that is on deposit with Haynault Public Auctions, putting any amount collected towards payment of the amounts owed by the purchaser;
g-  refusing any future bids made by the defaulting purchaser or in their name.

Collection of lots or failure to collect

Article 11. Purchasers must also collect their purchases within 5 days of the close of the auction,

With regards to purchases that have been paid for but cannot be collected immediately, particularly furniture, Haynault Public Auctions may hold them for 10 days at no cost. After this date, holding fees shall apply. In the event of a breach of the deadline, absence of a reaction by the purchaser, or hindrance to the running of operations, Haynault Public Auctions retains full rights as to the future disposal of the objects and furniture in question, as provided for in article 10.

Shipping of lots

Article 12. Haynault generally accepts, by express request of the purchaser, to arrange the transportation of lots, or to ship them by express delivery or postal service, in their entirety, and at the full risk and expense of the purchaser, for shipping or handling of lots. This service is billed.

In the event of damage discovered upon receipt of lots shipped by Haynault, the purchaser is obligated to notify Haynault within 24 hours and to retain the entire packaging. Haynault shall then launch a claims procedure with the postal service or express delivery company and shall keep the purchaser informed of the outcome.

The monitoring of this procedure is a service to the purchaser, and Haynault claims no obligation as to the means or outcome.

Haynault takes no action in the event of damage during transportation of lots which it has coordinated, but for which it was not paid for packing/shipping, as the contractual relation in this case is between the purchaser and the transporter.

Disputes – court jurisdiction

Article 13. No dispute shall be permissible following the final auction, even if it pertains to the description of lots.

Any disputes which may arise from the sale shall be exclusively subject to the jurisdiction of Brussels courts.