Fine Art Auction

The following Terms and Conditions shall be the only Terms and Conditions under which the property listed in this catalogue shall be sold: 1. A buyer’s premium will be added to the successful bid of each lot sold. The buyer’s premium is twenty five (25%) percent of the final bid price and shall be payable by the buyer along with all applicable sales tax. Payment may be made by cash, credit card, Visa, MasterCard, Discover and American Express. 2. When bidding, a prospective buyer is acknowledging personal liability to pay the purchase price including the buyer’s premium and all applicable taxes. 3. The auctioneer shall have absolute discretion in accepting bids. In case of error or dispute the auctioneer may re-open the bidding and re-offer the item in dispute. 4. Vallot is acting as agent for the seller and as such the agreement of sale is between seller and buyer. We reserve the right to refuse admission to the sale and to reject any bid. 5. The buyer is obligated to make payment upon completion of the sale. We shall be entitled to retain any item sold until payment is made in full. We may at our discretion hold any item until clearance of funds has occurred. 6. Storage is available for all lots. The first 30 days are complimentary and $8.00 a month thereafter. 7. All lots are sold “AS IS” and all sales are final. Neither the auctioneer, nor the seller, of the property make any guarantees, warranties or representations expressed or implied with respect to the property or the correctness of any catalogue or other description or the authenticity of authorship, physical condition, size, quality, rarity, importance, provenance, exhibitions, literature or historical relevance or otherwise. No statement anywhere, whether oral or written, shall be deemed such a guarantee, warranty or representation. Prospective bidders should inspect the property before bidding to determine the condition, size, and whether or not it has been repaired or restored. Neither the auctioneer nor the consignor make any representations that property sold hereunder may or may not require restoration and whether or not damage or defects, if any, are capable of restoration. Buyer’s are advised to seek the advice of an independent expert for advice regarding any questions they have regarding the property to be sold and the descriptions contained herein prior to bidding. All statements by us in the catalogue entry for the property, or made orally or in writing elsewhere, are statements of opinion and are not to be relied upon as statements of fact. Such statements do not constitute a representation, warranty or assumption of liability by us of any kind. The absence of a reference to condition does not imply the lot is free from damage or has not had previous restoration. Nor does the reference to a particular defect imply the absence of other defects. Estimates of selling price should not be relied upon as statement that this is the price at which the item will sell or its value or any other purpose. Neither Vallot nor the Consignor is responsible in any way for any errors or omissions in the catalogue or any supplemental materials. All dimensions are approximate and some lots have been measured without removing them from the frame. 8. Explanation of opinion and qualified opinion as to authorship: 1. Henri Matisse. In our opinion, the creator of the work was Henri Matisse. 2. Henri Matisse (attributed to)* In our qualified opinion the work is the period of the artist and may be the work of Henri Matisse. 3. Henri Matisse (after)* In our qualified opinion a work of the period of the artist by a student or follower of Henri Matisse. 4. Henri Matisse (school of)* In our qualified opinion a work by an artist influenced by Henri Matisse. *While use of this term is based upon careful examination and research, we assume no risk, liability or responsibility for the authenticity of authorship of any lot in this catalogue described by the term(s) so noted. Where no artist is specified but the work is identified by Country and period or other similar term, then our qualified opinion is that the work is, without certainty, but likely to originate from the geographic area noted and at approximately the time period stated. In no event shall our unqualified opinion as to authorship apply to works that are by artists working prior to 1850. 9. BIDDING INCREMENTS $ BID INCREMENTS $0 - $100 by $25’s $100 - $1,000 by $50's $1,000 - $2,000 by $100's $2,000 - $5,000 by $250’s $5,000 - $10,000 by $500's $10,000 - $100,000 by $1,000's $100,000 - $200,000 by $10,000's $200,000 - $500,000 by $20,000 $500,000 - $1,00,000 by $50,000's $1,000,000 and up $100,000's 10. If a buyer fails to make a payment in full we shall be entitled to hold the defaulting buyer liable for the total amount due and to commence legal proceedings to collect same along with interest, at such a rate as we shall reasonably decide along with our fees and costs incurred in collecting same; or we may cancel the sale and sell the item immediately to another party. If the property shall be resold at a lesser sum to another party then the buyer shall be responsible for any deficiency between their purchase price and the resale price. 11. Some lots sold may be subject to a reserve, which is the confidential minimum price below which we will not sell the lot. The auctioneer may open bidding on any lot below the reserve by placing a bid on behalf of the seller up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to other bidders. In the event that bidding occurs, but the reserve is not met, the auctioneer will not declare the lot sold and the lot shall not be sold. Only when the auctioneer shall announce that a lot is sold shall that lot be deemed sold to the highest bidder. From time to time Vallot may offer for sale lots in which it has a partial or whole interest either by a guarantee, advance or by providing other financing to the Consignor; use of the • symbol next to that lot in the printed catalogue shall be used to indicate such a lot. 12. Any and all prior oral or written agreements shall be merged herein and these Terms and Conditions shall be the only such terms under which property shall be sold hereunder. This sale is governed and conducted under the laws of the State of Rhode Island. Any dispute arising hereunder shall be in exclusive jurisdiction in the Courts of the State of Rhode Island. No portion of this catalogue of sale may be reproduced without Vallot’s prior written consent.