DECORATIVE ARTS AND PAINTINGS AUCTION

Auction purchase rules The data in the catalog are obtained after careful research and advice. However, the descriptions included in it are exclusively the opinions of experts of Sala Retiro or expressly designated by the same and, as such, should be considered by buyers, and interested parties should form their own. For this purpose, the objects to be auctioned are exposed to the public several days before the celebration of the Auction. Any statement printed in the catalog and referring to the authorship, attribution, nature, origin, date, provenance and condition of the lots, is governed by generally accepted interpretative terms and expressions. The catalogues, certifications or opinions cited in the catalog are offered and held by Sala Retiro as valuable and useful complementary information about the lots catalogued, but in no way shall they be binding or determine the responsibilities of Sala Retiro for them. Therefore, the interested party in the purchase of any of the lots catalogued, will be able to carry out by its own account and prior to its acquisition, the inquiries and verifications that it considers opportune. Each lot is sold as a "certain body". By intervening in the auction, the interested party DECLARES that he/she knows and agrees with the physical, legal and authorship situation of the objects/lots acquired, and that the bidding and eventual acquisition is carried out according to his/her own criteria and/or that of his/her advisors, especially as far as the authorship of the work is concerned, releasing Sala Retiro from any responsibility for the opinions expressed in relation to the objects/lots. The weights of the lots expressed in the Catalog should be understood as approximate. These weights may include non-precious metals, trimmings or other elements that make up the jewelry. When the catalog includes the mark of a watch, only the mark on the dial is transcribed. Coins show their face value and weight, but their authenticity or numismatic value is not guaranteed in any case. The indication "gold" and "silver" in the Catalog is used only for first grade gold and first grade silver. In accordance with international customs and practices, Sala Retiro will not be responsible for any damage, breakage, restoration, running of the watches, etc., even if they have not been included in the Catalog. In Sala Retiro, lists and catalogs are exhibited with a complete review of the numbers, descriptions and starting prices of each of the lots. Sala Retiro may agree, at the request of the owners and prior to the auction, to withdraw any lot included in the Catalog. This circumstance will be announced before the beginning of the auction or during it. The starting prices shall appear in the Catalogue, below each lot, for the information of the buyers. This starting price shall constitute the minimum sale price for each lot, except in exceptional cases where a reserve may be agreed with the seller. The terms used in the catalog have the meaning indicated below: Artist's name and/or surname: In the opinion of Sala Retiro this is a work by the artist. tribute to: In the qualified opinion of Sala Retiro it is probably a work by the artist, either in whole or in part. Studio of... School of... Workshop of....: In the qualified opinion of Sala Retiro this is work done in the artist's studio or school. Circle of: In the qualified opinion of Sala Retiro it is a work made in the artist's period and therefore shows his influence. Follower of. Following models of: In the qualified opinion of Sala Retiro it is a work made following the style of the artist or School, but not necessarily by a pupil of his, nor in his period. Copy of....: In Sala Retiro's qualified opinion it is a copy (of any date) of a work by the artist. Signed... / Dated... / inscribed....: In Sala Retiro's qualified opinion the signature, date, inscription are the artist's. Signed... / Dated... / Dated... / bears mark... It bears label... / It bears a stamp... / It bears a seal..: In the qualified opinion of Sala Retiro the signature/ date/ mark/ label/ stamp appear to have been included by persons other than the artist. Cast from a model of: In Sala Retiro's qualified opinion, the work is cast from a model of the artist. In a live session, "bidding" is understood as each of the increases, due to the different bids, that the price of the lot being auctioned undergoes. The bids will be made starting from the starting price, according to the following scale: From 0 Up to 190€. From 10€ From 200€ up to 200€. Up to 475€. From 25€ From 500€ Up to 950€. From 50€ From 1.000€ Up to 1.1900€. From €100 From 2.000 Up to 4.750€. From 250€ From 5.000€ Up to 9.500€ Up to 9.500€ From 500€ From 10.000€ Up to 19.000€. From 1.000€ From 20.000€ Up to 47.500€ Up to 47.500 From 2.500€ From 50.000€ or more Up to 95.500€. From 5.000€ From 100.000€ or more At the discretion of the table When the price of the lot being auctioned reaches a higher range of the scale during the bidding, the successive bids will be adjusted to the corresponding "bid increments". In any case, the auction manager may vary the bidding increment during the course of the auction. The auction manager shall have the power to place any bid that does not exceed the preceding bid by the amount applicable in each case. The auction manager may also request confirmation of a bid placed. In the Internet session, the bidding scale is established by the portal where the auction is held, which automatically notifies the user's email if his bid has been exceeded, giving him the opportunity to place a higher bid, and so on, successively until the exact closing time of the auction, which is indicated in each lot. (The bidding scale may be different in the on-site and Internet sessions). In the on-site session, the persons who are going to take part in the auction, must accredit their personality at the entrance of the Room, where they will be provided with a "buyer number" (racket) that will identify them during the celebration of the act. This number must be shown by the bidder at the time of bidding, and returned to Reception at the exit. In the Internet session, the persons who are going to take part in the auction must register as users of the portal where the auction is held, completing the steps that will be indicated to them at all times. In the on-site session, purchase orders -open bidding or written bids- will be accepted up to 24 hours before the beginning of the session corresponding to the lot/s requested, by means of the forms that Sala Retiro has available for this purpose, both in the Sala Retiro itself and in the final pages of this Catalogue, "Model Purchase Order (Written Bid)" is included. Through the Internet portal, by means of the bidding form that is displayed in each lot, sending it 24 hours before the corresponding session. In the extraordinary auctions, bids may also be placed by telephone, and must cover the starting price and be accompanied by a photocopy of the ID card or passport, in this case, prior communication to Sala Retiro and acceptance by the latter prior to the start of the auction, being Sala Retiro who will represent the buyer. Telephone bids for amounts less than 1,000 Euros will not be accepted. If two or more open bids are submitted for the same lot, the Committee shall defend the one with the highest bid. In the event that there are several equal bids for the same lot, the one corresponding to the bid received in the Room earlier shall be defended by the Committee. For the bidding session, bids must also be submitted 24 hours prior to the corresponding session. Sala Retiro is not responsible for processing purchase orders (open bids or written bids), or Internet forms, which have been received outside the time limit established for them. In the Internet session, Sala Retiro reserves the right to repeat the auction, in the event of any technical incident affecting the proper functioning of the same. In the on-site session, the lots shall be awarded to the highest bidder, present in the Room or represented by the Room by telephone, or who has made previous bids through the open bidding system (written bid) or through the bidding form that is displayed in each lot by means of the following form. If there is a bid in the room that equals the maximum bid in the bidding documents, the bid submitted earlier, i.e., the bid in the bidding documents, shall take precedence. In the Internet session, the lots will be awarded to the highest "winning" bidder at the time of closing of the lot in question. The "winner" will automatically receive an e-mail message announcing him/her as the successful bidder of the lot in question. Sala Retiro, in compliance with the provisions of Law 16/85 of Spanish Historical Heritage, will notify the corresponding Autonomous Community and the Ministry of Culture, with the required advance notice, the content of their catalogs. Likewise, it will notify the specific alienations that could be carried out in accordance with the provisions of the legislation in force. On the goods subject to Law 16/85, the Administration may exercise its right of first refusal when the sale is made at public auction, only during the Auction and expressing its exercise at the time of the auction. The rights of the author or his heirs over the catalogued lots shall be respected in accordance with the Intellectual Property Law. To withdraw the lot awarded, both in the On-Site session and in the Internet sessions, Bidding Documents, Extraordinary Auction lots and Direct Sale, the buyer must pay the auction price plus 21% (VAT included). The title of the acquired lot shall not pass to the buyer until the latter has made the full payment of said amount, having a term of ten working days to make the full payment. The payment of the auction must be made in cash (with the limits set by law) by transfer to the account that Sala Retiro has opened in BANCO SANTANDER, or by any other means of payment to the satisfaction of Sala Retiro. BIC: BSCHESMMXXX BANCO SANTANDER IBAN: ES72 0049 0089 1527 1000 2207 Office located at Avda. Menéndez Pelayo, 3 - 28009, Madrid (Spain) In the Internet session, new customers must make the payment of the amount through a deposit from a bank account opened in a financial institution domiciled in Spain or in the European Union, in the name of the same customer, and send a copy of their identification document. In the Presencial and Pliegos session, the withdrawal of the purchased lots must be made by the buyer before the expiration of ten working days following the date of the Auction, with payment of the total amount due to Sala Retiro. All transportation costs shall be borne by the buyer. In the Internet session, for amounts less than 1.000 €, once the payment of the lot and the transport and insurance costs have been made, the lot will be sent by courier to the address indicated. For payments in Sala Retiro, the buyer will be able to pick up the lot at the same time of payment. Storage costs: the lots purchased and not withdrawn by the successful bidder will accrue an expense of 6 € per day for storage, from the aforementioned period, to which the corresponding VAT will be added. Sala Retiro shall not be liable for any damage caused to the lots of the Auction, whatever its cause. The buyer shall be liable for any damage, injury or loss affecting the objects, from the time payment is made or after ten working days following the date of the auction. The Chairman of the Auction Committee or, as the case may be, the Auction Director, shall ensure that the auction is held in due order and with the necessary guarantees for the interests of the participants and owners, having the power to settle any controversy. The Sala Retiro reserves the right of admission. Likewise, the Room may request references of those who intend to participate as bidders in an Auction. Likewise, the Room may require from the successful bidder or buyer of one or several lots, whenever it deems it convenient, bank references or other type of guarantees. The Room may refuse any bid without the need for any justification or explanation. In case of litigation between SALA RETIRO S.A. and the buyer, the parties submit to Spanish law and to the jurisdiction of the courts of the capital city of Madrid. The above rules for the purchase at auction shall be deemed to be known and accepted by all participants in the auction, without reservation. Personal data protection clause: We inform you that the personal data you have provided will be incorporated into a file owned by Sala Retiro S.A., solely and exclusively for the purpose of managing your request for bids in this on-line auction. Sala Retiro S.A. undertakes to treat your personal data as absolutely confidential, using them only for the purpose indicated, and states that it has implemented all those technical and organizational measures necessary to ensure the security of the same. The data marked with (*) are mandatory, so that, if not provided, Sala Retiro S.A. will not be able to proceed to execute your bidding request in this auction. You may revoke at any time the consents provided in this application, as well as exercise your rights of access, rectification, cancellation and opposition, by sending your request, in writing, proving your identity, to Sala Retiro S.A. Avenida. Menéndez Pelayo, 3 y 5, 28009, Madrid, indicated "LOPD-ARCO".