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PABLO PICASSO (1881-1973) Buste de jeune garçon signed “Picasso” (upper left); dated “15.12.64.I...
Currency:USD
Category:Everything Else / Other
Start Price:NA
Estimated At:400,000.00 - 600,000.00 USD
NOT SOLD (BIDDING OVER)
0.00USD+ applicable fees & taxes.
This item WAS NOT SOLD. Auction date was 2002 Jun 24 @ 07:00UTC-08:00 : PST/AKDT
PABLO PICASSO
(1881-1973)
Buste de jeune garçon
signed “Picasso” (upper left); dated “15.12.64.III” (on the reverse)
oil on canvas
73 x 54 cm (28 3⁄4 x 21 1⁄4 in.)
painted in December 1964
Estimate: £275,000–425,000
$400,000–600,000
Provenance
Galerie Louise Leiris, Paris (acquired from the artist)
Galleria Internazionale, Milan (acquired from the above in 1971)
Marisa Del Re Gallery,New york
Acquired from the above by the present owner on April 16, 1974
Literature
Christian Zervos, Pablo Picasso, Paris, 1983, vol. 24 (Oeuvres de 1964), no. 326 (illustrated, pl. 127)
<p>
This painting belongs to a series of works that Picasso embarked upon towards the end of 1964 based upon the visage of a young boy (Zervos, vol. 24, nos. 313-328). It is amongst the most resolved and successful of the group and demonstrates Picasso’s use of highly simplified, even calligraphic forms to describe human features. In many respects the virtuosity evident in such works recalls the fact that Picasso had by this stage in his career become one of the most prolific ceramicists in Modern Art. Decorating large quantities of ceramics through the rapid creation of powerful, emblematic images pared down to their most essential ingredients had a reciprocal influence on his painting. In the late paintings the viewer is carried away by the sheer vitality of his paint application and the fresh, youthful appeal of the resulting works, often, as here, rendered with the use of bright and primary colours. Furthermore his use of black pigment applied here in the main features and hair of the head, describes light as much as it does shadow. In this respect the lesson of Matisse is also apparent, as Matisse had always advocated the use of black to create the illusion of light. If Matisse’s late works appeared to be concerned with the regaining of youth and innocence in old age, this is no less true of Picasso. In the present work this is enacted not just in the expressive, impetuous technique, but also in the youth of the subject itself, who wears the striped sailor’s tee shirt that Picasso himself often sported. Indeed one of the best known anecdotes of Picasso’s late period is that when viewing an exhibition of children’s drawings he had commented that as a child he could draw like Raphael, and it had been his life’s work to learn to draw like a child.
Auction Location:
Previewing Details:
Wednesday June 19 10:00AM to 5:00PM - Thursday June 20 10:00AM to 5:00PM - Friday June 21 10:00AM to 5:00PM - Saturday June 22 CLOSED - Sunday June 23 1:00PM to 6:00PM - Monday June 24 10:00AM to 12:00 noon
Additional Fees:
Shipping Details:
No Info Available
Payment Details:
Acceptable cheques, wire transfer
<p>STANDARD TERMS AND CONDITIONS
<p>1 APPLICABLE TERMS AND CONDITIONS
<p>Each lot in this Catalogue will be offered for sale subject to the terms and conditions set forth below, as changed or supplemented by provisions (i) written in other places in this Catalogue, (ii) written in supplements to this Catalogue or other written material prepared by us, and/or (iii) as stated by the auctioneer or posted in writing at the time of auction, prior to a bid being accepted for the lot. In offering property for sale, we are acting as agent for the consignor, unless otherwise indicated in this Catalogue or at the time of auction. By bidding at the auction, whether in person, through an agent, by written bid, by telephone bid, or by other means, the buyer and all bidders agree to be bound by these terms and conditions, as changed or supplemented as provided in this paragraph.
<p>These Standard Terms and Conditions, as changed or supplemented as provided in this paragraph, contain all the terms on which the Company and the consignor contract with the buyer.
<p>2 DEFINITIONS
<p>The use of “we”, “us”, “our”, or “the Company” in this Catalogue refers to PHILLIPS, de pury & Luxembourg limited, a company incorporated in England and Wales under registration no.4228373, with its registered office at 49 Grosvenor Street, London W1K 3HP, operating for the purposes of this sale as de pury & Luxembourg, and the use of “buyer” refers to the person or entity buying property at the auction or at a private sale. “Standard Terms and Conditions” refers to these terms and conditions, as changed or supplemented in the ways mentioned in Paragraph 1 above. The “Agreement” means any agreement which incorporates these Standard Terms and Conditions. The “consignor” refers to the seller(s) and any party(ies), acting as agent for the seller(s) in consigning the Property to us for sale. A “lot” refers to the lot in which Property is grouped by us. “Property” refers to each item of property listed for sale at auction or by private sale. The “reserve” refers to the minimum price at which the Property is to be sold, and does not include commissions or taxes, if any.
<p>3 WARRANTY INFORMATION; BUYER’S REMEDIES
<p>Limited Warranty; Sole Remedy: The authorship of fine art is warranted only as set forth in the Authorship Warranty appearing in this Catalogue. The meaning of “fine art” and “authorship” is also set forth in the Authorship Warranty. Buyer’s sole rights and remedy for any nonconformity shall be as expressly set forth in the Authorship Warranty and as provided in this Paragraph 3, whether the claim arises in contract, warranty, tort, negligence, strict liability or otherwise.
<p>Disclaimer of Warranties: Except for rights that the buyer receives under the Authorship Warranty,
<p> (i) all Property is sold “AS-IS,” and our liability under the Authorship Warranty shall be to the exclusion of all other liability of the Company and the consigner to the buyer whether contractual, tortious or otherwise for defects in the Property or for any loss or damage to or caused by the Property, and (subject to the exception contained in the final paragraph of this Paragraph 3) all other conditions, warranties, stipulations or other statements whatsoever concerning the Property, whether express or implied, by statute, at common law or otherwise howsoever, are hereby excluded; in particular (but without limitation of the foregoing) the Company and the consignor grant no warranties regarding the fitness for purpose, performance, use, nature or quality of the goods, whether express or implied, by statute, at common law or otherwise howsoever;
<p> (ii) specifically, neither we nor the consignor make any representation or warranty of any kind, express or implied, with respect to any of the characteristics of the Property including (but without limitation): age, authenticity, genuineness, attribution, provenance, origin, physical condition, importance, size, quality, quantity, rarity, value, exhibitions, historical references or significance, medium, material, period, culture, source or origin;
<p> (iii) all information in the Catalogue or elsewhere, concerning the characteristics mentioned in (ii) above, is offered to bidders as a statement of opinion only. It is not intended to contain statements of fact for which we or the consignor may be held liable. This disclaimer of liability on our part applies whether the information is included in the Catalogue, advertisements, announcements, or communicated through our representatives, bills of sale or elsewhere, and whether written or oral; and
<p> (iv) neither we, nor the consignor, shall be responsible for the correctness or accuracy of descriptions or other information in this Catalogue or elsewhere. The bidder assumes the full responsibility to inspect and evaluate the Property to its, his or her complete satisfaction prior to any purchase. The bidder must make an independent judgment about (a) the Property, (b) its value, and (c) descriptions or other information about the Property. We may, without in any way diminishing our disclaimers of liability contained in this Paragraph 3 and elsewhere, mention in the description of the lot significant damage, although this does not include all faults, imperfections and restorations. In addition, all measurements stated in the Catalogue are approximate.
<p>No Warranty of Reproduction: Neither we nor the consignor make any warranty or representation, express or implied, concerning any rights of copyright or reproduction in, to or of the Property.
<p>Price Estimates: The estimates provided in the Catalogue are merely our opinion of the price that a willing buyer would pay for the Property at auction. The actual price that might be realized at auction or upon resale of the Property may be substantially different from these estimates. We shall not be liable in any way for such a difference.
<p>Remedies for Breach of any Warranty: If there is any breach of a warranty, buyer’s sole remedy shall be to rescind the sale and receive a refund of the purchase price, including the buyer’s premium. This means that neither we, nor the consignor, shall have any liability for other direct, indirect or consequential loss or damage (whether for loss of profit, loss of business, depletion of goodwill or otherwise), costs, expenses or other claims for consequential compensation whatsoever (however caused). No refund will be made until the Property is returned at buyer’s expense to the registered office of the Company, in the same condition as at the time of sale. We act only as agent for the consignor and make no independent warranty of any kind.
<p>Except in relation to an Agreement which is an “international supply contract” as defined in Section 26 of the Unfair Contract Terms Act 1977, nothing in these Standard Terms and Conditions shall:
<p> (i) restrict or exclude liability for death or personal injury caused by the negligence of the Company or the consignor; or
<p> (ii) if the buyer is a consumer (as defined in Section 2 of the Unfair Terms in Consumer Contracts Regulations 1994), restrict or exclude liability for death or personal injury caused by an act or omission of the Company or the consignor; or
<p> (iii) restrict or exclude any liability of the Company or the consignor for fraudulent misrepresentation.
<p>4 THE AUCTION
<p>Bidding by Paddle: All persons attending the auction must obtain a bidder’s paddle prior to bidding. The bidder must qualify to bid and may be asked to provide a financial reference. We have the right, at our complete discretion, to refuse admission to the premises or participation in any auction. The Auctioneer may refuse to recognize any person without a bidder’s paddle. If you are not able to attend the auction, you may submit an Absentee Bid.
<p>Bidding as Principal: When making a bid, a bidder is accepting personal liability to pay the purchase price, including buyer’s premium and all applicable taxes, plus all other applicable charges, unless it has been explicitly agreed in writing with the Company before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to the Company, and that the Company will only look to the principal for payment.
<p>Absentee Bids: As a convenience to buyers who cannot attend a sale in person, we may, if so instructed, execute written absentee bids on a buyer’s behalf, without additional cost. Absentee bidders are required to submit bids on the “Absentee Bid Form,” a copy of which is printed in the Catalogue or otherwise available from us. The buyer must clearly indicate the maximum amount buyer intends to bid, excluding the buyer’s premium. “Buy” bids will not be accepted. For bidders requesting the opportunity
to bid by telephone, we reserve the right to have a completed telephone bid form on file prior to any such bidding. We also reserve the right to require written confirmation of a successful bid from the telephone bidder, by fax or otherwise, immediately after such bid is accepted by the Auctioneer. Telephone bids may be recorded, and by bidding on the telephone, bidder consents to a recording of the conversation. Absentee bids, whether written, executed by telephone, or otherwise, is an accommodation for the buyer, and we will not be liable for errors, omissions or failure to execute bids. Lots are bought for absentee bidders at the lowest possible price permitted against other bidders and the reserve.
<p>Bidding Intervals: For your convenience, bidding generally commences at an increment below the low estimate and may proceed at the following intervals: £1,000-£3,000 by £100; £3,000-£5,000 by £250; £5,000-£30,000 by £1,000; £30,000 onward, at Auctioneer’s discretion.
<p>Auctioneer Announcements: All terms, conditions, notices, descriptions, statements and other matters in the Catalogue and elsewhere concerning any lot may be changed or added to by the Auctioneer, prior to any bid being accepted for the lot.
<p>Reserves: We (or the Auctioneer) may implement the reserve by bidding on behalf of the consignor at the auction. This means that we (or the Auctioneer) may open the bidding on any lot by placing a bid on behalf of the consignor. We (or the Auctioneer) may further bid, on behalf of the consignor by placing successive or consecutive bids for a lot, or by placing bids in response to other bidders up to the amount of the reserve. The reserve, which is confidential, is determined by agreement with the consignor and may equal, but will not exceed, the low estimate of the lot.
<p>Sale to the Highest Bidder: A lot shall be sold to the highest bidder determined by the Auctioneer, subject to these Standard Terms and Conditions. The contract of sale incorporating these Standard Terms and Conditions shall be concluded on the fall of the Auctioneer’s hammer. The buyer shall be obligated to pay the purchase price, including buyer’s premium and applicable taxes, as set forth in these Standard Terms and Conditions.
<p>Discretion: The Auctioneer has the right to: (i) reject any bid, (ii) refuse to acknowledge any bidder, (iii) challenge bids, (iv) withdraw a lot from sale or pass the lot, (v) reject any advance in the bidding if the Auctioneer deems it insufficient, and (vi) otherwise regulate the bidding and its increments. In the event of a dispute between bidders, the Auctioneer has the absolute right to determine the successful bidder or to re-offer the lot in dispute. If any dispute arises after the sale, the Company’s sales records shall be deemed conclusive. We also reserve the right to divide any lot and to combine any two or more lots. The discretion of the Auctioneer as described in this Paragraph 4 may be fully exercised in the absolute discretion of either the Company or the Auctioneer, without liability of any kind on the part of the Company or the Auctioneer.
<p>5 TITLE AND RISK
<p>Risk and liability in respect of the lot shall pass to the buyer on the earlier of collection by the buyer or 5 days from the date of the sale but property and ownership of the lot shall not pass to the buyer until:
<p> (i) the buyer has paid us unconditionally and in full all monies due under the Agreement; and
<p> (ii) no other sums are then outstanding from the buyer to us on any account whatsoever whether or not such sums have become due for payment.
<p>In exceptional circumstances, the Company may agree in writing for the buyer to collect a purchase before payment has been made in full. Until property in the lot passes
to the buyer in accordance with this Paragraph 5 the buyer shall hold the lot on a fiduciary basis as bailee for us and shall not permit any charge or lien whatsoever to be created over any property of the Company. The buyer shall store the lot separately from all other goods in its possession and marked in such a way that they are clearly identifiable as our property. The buyer shall insure and keep insured the lot to its full value against “all risk” until the date that the property in the lot passes from us and shall upon reasonable notice furnish us with the satisfactory evidence that adequate policies of insurance are being maintained and that the premiums are paid up to date.
<p>Where the buyer resells the lot before payment in respect thereof has been received in full, the buyer shall hold as trustee for us all monies recovered from the sale of the lot. In relation to any resale, the buyer does not sell as our agent and we accept no liability in this respect.
<p>6 PURCHASE AND PAYMENT
<p>Purchase Price; Buyer’s Premium; Taxes: The purchase price to buyer for the lot shall be (i) the amount of the successful bid price, plus (ii) a premium of 15% on the first £30,000 of the successful bid price, and 10% on any portion of the price which exceeds £30,000. In addition, buyer shall pay Value Added Tax on the buyer’s premium at the appropriate rate and on the hammer price at the appropriate rate if applicable on that lot and all other applicable sales, use, excise and other taxes. Purchases will not be released to a buyer unless all tax requirements are satisfied. Payment for accommodation services, such as packing, handling, insurance, shipping or other services requested by the buyer shall be made as provided in Paragraph 7 below.
<p>Payment: Buyers are required to pay for successful purchases immediately following the auction unless other arrangements are agreed to in writing in advance of the auction.
<p>All payments must be made as follows:
<p> (i) personal cheques are accepted with suitable identification. Cheques should be made payable to “Pdepl” for the total amount due. If payment is made by mail, please send the cheque to the attention of the Client Accounting Department at 49 Grosvenor Street, London W1K 3HP and ensure that the sale number is written on the cheques. We reserve the right to withhold delivery of the Property until funds represented by cheque have been collected or credited. Payment will not be deemed to have been made until we have collected funds. Cheques drawn by third parties will not be accepted.
<p> (ii) Payment by wire transfer may be sent directly to:
<p>
Bank of Scotland
11 Renfield Street
Glasgow G2 5EZ
For the account of
pdepl
Sort Code: 80-54-01
Account No.: 00440780
<p>Please reference the relevant sale number, the lot number, and the buyer’s bid number.
<p>7 REMOVAL OF PROPERTY; LATE CHARGES; WORK OF OTHERS
<p>Collection of Purchased Property: Property will be stored in accordance with the provisions of the section entitled Payment and Collection on page 118. No purchase may be claimed or removed until it has been fully paid for, unless otherwise agreed to by the Company in writing. All authorized lots shall be removed at the purchaser’s risk and expense no later than 5:00 pm of the next business day after the sale. When full payment is received, the buyer will receive a “Collection Order.” This is buyer’s proof of payment and must be presented when collecting purchases.
<p>Storage and Late Payment Charges: After five days, a storage fee of £5 per day per lot will be charged on lots not removed by 5:00 pm of the next business day after the sale. In addition, an administrative fee of £45 will be charged on each lot not removed within 28 days of the sale. We reserve the right to charge interest at the rate of 11⁄2 % per month or part thereof on the purchase price if payment is not received on time as provided in these Standard Terms and Conditions and interest will accrue after, as well as before, any judgement. We also reserve the right to place Property in public storage, in which case buyer shall be charged the amount of such storage, and other reasonable costs associated with storage of the Property. All costs and risks associated with public storage shall be fully assumed by the buyer.
<p>Accommodation Services: Any packing, handling, insurance, shipping or other services, which we agree to provide or arrange for, are recommended or furnished only as a courtesy to the buyer. All costs and risks associated with such services shall be fully assumed by the buyer. The costs of such services shall be paid in advance or promptly reimbursed to us, at our discretion. We shall not under any circumstances be liable for acts or omissions of packers, handlers, carriers or others, even if their acts or omissions result in loss of or damage to Property.
<p>Export and Import Matters: Bidders are advised to make their own enquiries as to whether an export licence is required before seeking to export any lot(s). Bidders are advised that some countries completely prohibit the importation of property made of or incorporating (irrespective of percentage) animal material, such as but not limited to, ivory, whalebone, rhinoceros horn or tortoiseshell. Accordingly, prior to bidding, bidders considering export of the Property should familiarize themselves with relevant export and import regulations of the countries concerned. It is solely the buyer’s responsibility to comply with these laws and to obtain any necessary export and import licences. Failure to obtain a licence or delay in doing so shall not constitute a basis for rescission or cancellation of a purchase or delay in making payment for a purchase.
<p>8 BUYER’S BREACH
<p>Remedies Upon Buyer’s Breach: If buyer fails to comply with any of its obligations, buyer will be in default. In that case, buyer will be liable for the full purchase price, including fees and charges. In addition, at our option we may (i) cancel the sale of the lot(s) on which buyer is in default and on all other lots sold to buyer, (ii) resell the lot(s) at private or public sale, without reserve, and (iii) exercise any other rights given by law. In any event, we shall be entitled to recover from the defaulting buyer any amounts that remain due to us on the purchase price, together with all fees and charges. We shall also be entitled to recover all damages, including costs of collection incurred
in connection with buyer’s default. These costs of collection include, but are not limited to, handling charges, normal sales commissions and expenses (on both the sale for which buyer defaulted, and on any resale), and reasonable legal fees and expenses. We shall be entitled to set off all payments made by buyer against sums owing to us by buyer.
<p>8 PRIVATE SALES
<p>These Standard Terms and Conditions shall also apply to any private sale by us of Property.
<p>9 RESCISSION BY US
<p>If an adverse claim is asserted with respect to Property purchased by a buyer, we shall have the right, but not the obligation, to rescind the sale. Upon notice of our election
to rescind the sale, the buyer will promptly return the Property to our premises in the same condition as at the time of purchase. We will then refund the purchase price and buyer’s premium. The refund shall constitute the sole remedy and recourse of buyer against us and the consignor with respect to such claim.
<p>10 RIGHTS ETC CUMULATIVE AND OTHER MATTERS
<p> (i) The rights, powers, privileges and remedies provided in these Standard Terms and Conditions are cumulative and are not exclusive of any rights, powers, privileges or remedies provided by law or otherwise.
<p> (ii) No failure to exercise nor any delay in exercising by any party to the Agreement
of any right, power, privilege or remedy under the Agreement shall impair or operate as a waiver thereof in whole or in part.
<p> (iii) No single or partial exercise of any right, power, privilege or remedy under the Agreement shall prevent any further or other exercise thereof or the exercise
of any other right, powers, privilege or remedy.
<p>11 INVALIDITY
<p>If any provision of these Standard Terms and Conditions shall be held to be illegal, void, invalid or unenforceable under the laws of any jurisdiction, the legality, validity and enforceability of the remainder of these Standard Terms and Conditions in that
jurisdiction shall not be affected, and the legality, validity and enforceability of the whole of these Standard Terms and Conditions in any other jurisdiction shall not be affected.
<p>12 LAW AND JURISDICTION
<p>English Law: The Agreement shall be governed by, and construed in accordance with, English law.
<p>Jurisdiction: In relation to any legal action or proceedings arising out of or in connection with the Agreement (“Proceedings”), each of the parties irrevocably submits to the exclusive jurisdiction of the English courts and waives any objection to Proceedings in such courts on the grounds of venue or on the grounds that Proceedings have been brought in an inappropriate forum.
<p>13 THIRD PARTY RIGHTS
<p>No person who is not a party to the Agreement shall have any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Agreement.
<p>14 LIMITATION OF LIABILITY
<p>We are acting as agent only in connection with sale of Property. We disclaim any responsibility for a breach or default by the consignor, except as specifically stated in these Standard Terms and Conditions.
<p>Subject to Paragraph 3:
<p> (i) Our total liability in contract, tort (including negligence or breach of statutory duty), misrepresentation or otherwise, arising in connection with the performance or contemplated performance of the Agreement shall be limited to the purchase price actually paid by buyer; and
<p> (ii) We shall not be liable to buyer for any indirect or consequential loss or damage (whether loss of profit, loss of business, depletion of goodwill or otherwise), costs, expenses or other claims for consequential compensation whatsoever (howsoever caused) which arise out of or in connection with the Agreement.
<p>15 USE OF PERSONAL INFORMATION
<p>As part of the Agreement, the Company will use and otherwise process personal
information on individuals as described in this Paragraph15. By agreeing to be bound by these Standard Terms and Conditions, each bidder consents to processing of personal information as described in this Paragraph15. Where the personal information concerns an individual who is an employee, agent or other representative of the bidder, the bidder undertakes to bring this Paragraph15 to the attention of the relevant individual and to ensure all relevant consents are given and maintained.
<p>The personal information the Company will process includes the following:
<p> (i) name and contact details of bidders and employees, agents or representatives
of bidders (including absentee bidders);
<p> (ii) account and financial details of bidders;
<p> (iii) details of each bidder’s use of auction and related services provided by the Company.
<p>The Company will use personal information for the following purposes:
<p> (i) providing auction and related services (including billing and payment collection services, customer care, technical and record maintainance, notification of changes to services, improvement and development of services, arrangements for absentee bidding and related services);
<p> (ii) record-keeping for up to six years following termination of the Agreement;
<p> (iii) operation and enforcement of the terms and conditions of the Agreement;
<p> (iv) credit checks on prospective bidders;
<p> (v) transferring our business to a purchaser;
<p> (vi) in relation to resolution of legal and regulatory matters, including:
<p> (1) compliance with laws and applicable regulations, orders of courts and other competent tribunals;
<p> (2) co-operation with the police or any government or regulatory body;
<p> (3)investigation of claims that use of any service that the Company provides infringes any rights or breaches any law, rule, regulation or order.
<p>The Company will disclose personal information to the legal advisors of any person claiming that any bidder’s use of services provided by the Company infringes any right or breaches any law, rule, regulation or order. Where a breach of the Agreement is suspected, personal information may be disclosed or passed to other parties as needed to assist the Company in recovering payment or otherwise enforcing a term or condition of the Agreement.
<p>The Company may contact bidders with information about products or services offered by affiliates of the Company. The Company will not sell, rent or otherwise transfer personal information to a third party for marketing purposes. Unless the bidder has opted out of receiving marketing information from the Company on the registration or absentee bidder form, the bidder consents to receiving such information from the Company and to processing of his personal information for this purpose. If at any time the bidder no longer wishes to receive such information, he must write to the Company at the Company’s registered office. Implementation of such notice will take place within 30 days of receipt at the correct address.
<p>The Company may transfer personal information between affiliates of the Company, for administration and auction-related purposes, including companies based outside the United Kingdom and the European Economic Area in countries which may not provide an equivalent level of data protection to that provided in the United Kingdom. By agreeing to be bound by these Standard Terms and Conditions, each bidder consents to the transfer of personal information abroad as required by the Company.
<p>16 INFORMATION
<p>If you need further information or have any questions about these Standard Terms and Conditions, the Authorship Warranty or any other provisions applicable to a sale, please call us at +44 20 7318 4010.
<p>
<p>AUTHORSHIP WARRANTY
<p>The Company provides the following limited warranty for each lot offered in the Catalogue. The Standard Terms and Conditions shall fully apply to this warranty.
<p>Definitions: The term “authorship” means the creator, period, culture, source or origin of a work of fine art or other property as identified in the description of the work in the Catalogue. The term “fine art” means a painting, sculpture, drawing, photograph or work of graphic art and prints.
<p>Limited Warranty: The Company warrants the authorship of fine art for a period of five years from the date of the sale by the Company, subject to the exclusions and limitations set forth below. This warranty only covers the original buyer of record from the Company (that is, the registered bidder).
<p>The provisions of Paragraph 3 of the Standard Terms and Conditions fully apply.
<p>Exclusions and Limitations: This Authorship Warranty does not cover:
<p> (i) subsequent owners or assigns of the Property, such as purchasers from, or donees of, the original buyer, and heirs, successors, beneficiaries and assigns;
<p> (ii) fine art created prior to 1870, unless the Property is determined to be counterfeit (a forgery made less than 50 years ago with an intent to deceive) and has a value at the date of the claim under this warranty, which is materially less than the purchase price paid;
<p> (iii) any description which states that there is a conflict of specialist opinion on the authorship of the Property;
<p> (iv) any description which on the date of sale was consistent with the generally accepted opinions of specialists, scholars or other experts, despite the later discovery of new information;
<p> (v) descriptions or dating of the Property proved inaccurate by means of scientific methods or tests not generally accepted for use at the time of the publication of the Catalogue, or which were at such time deemed unreasonably expensive or impractical to use.
<p>PAYMENT & COLLECTION
<p>PLACE OF PAYMENT AND COLLECTION OF PURCHASED PROPERTY
<p>A Please note that payment for purchases will be accepted during or after the sale at 49 Grosvenor Street, London W1K 3HP.
<p>B No purchase may be claimed or removed unless full payment has been received, or otherwise agreed to in writing by the Company.
<p>C All purchased lots will be transferred after the sale to 49 Grosvenor Street, London W1K 3HP, where lots may be collected by purchasers beginning on 25 June 2002.
<p>D As a service to our clientele, the Shipping Coordinator is available to assist in arranging for collection, estimates of the shipping costs and shipment of purchased lots.
<p>E For packing, crating or shipping of lots, Purchasers must complete a Shipping Instruction Form and return the form to the Company along with payment. All shipping costs will be billed directly to the Purchaser by the shipper. Please refer to Paragraph 7 of the Standard Terms and Conditions for further provisions concerning these arrangements. Purchasers have the option to choose their own shipper and should notify the Company in writing. It is important to instruct the outside shipper to contact the Company at least 24 hours in advance of collection in order to provide a bill of lading and schedule pick-up.
<p>F After 28 days from the date mentioned in paragraph C, uncollected property may be placed into public storage. Costs of storage and other charges as set forth in the Standard Terms and Conditions shall apply and be billed by the Company. Property will not be released until all payments due for storage and otherwise have been paid in full.
<p>G VAT:
The symbol ° next to a lot number indicates that VAT is payable by the buyer at the standard rate, on the hammer price. The symbol * next to a lot number indicates that the lot has been imported from outside the European Union under HMCE Temporary Importation Regulations, and that the effective rate of 5% will be payable by the buyer on the hammer price and on the premium. For lots which appear without either of the above symbols, no VAT will be payable on the hammer price and the premium will be shown inclusive of VAT. The VAT inclusive with the premium is not normally recoverable by the buyer. Note: There is no VAT payable on the hammer price, or on the premium, for books bought at auction.