WINES & SPIRITS

LIBERT ET ASSOCIÉS (ovv n° 2002-406) is an operator of voluntary sales of furniture by public auction governed by Articles L 321-4 et seq. of the French Commercial Code (hereinafter referred to as ‘LIBERT’).

‘LIBERT"). In this capacity, LIBERT acts as agent for the seller who contracts with the buyer. The relationship between LIBERT and the purchaser is subject to these general terms and conditions of sale, which may be amended by written or oral notices before or during the sale and which will be mentioned in the minutes of sale.

WINES AND SPIRITS

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The condition of the bottles (levels, labels, corks and capsules) as well as the CB (Caisse Bois) designation are given for information only.

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No claim will be possible once the auction has been announced on the basis of these indications. The information given on the labels, collars and corks constitutes the identification of the beverages and cannot in any way engage the responsibility of LIBERT.

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For items with a low estimate of more than €1,000 listed in the sale catalogue, a condition report on the state of conservation of the lots may be provided on request. The information contained therein is provided free of charge and for information purposes only. LIBERT cannot be held responsible in any way for this information.

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In the event of disputes, in particular concerning the authenticity or origin of the items sold, LIBERT is bound by an obligation of best endeavours; its liability, if any, shall in no way be engaged by LIBERT.

SALE

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All successful bidders are deemed to be acting on their own behalf, unless LIBERT accepts that they are acting on behalf of a third party.

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All successful bidders must provide proof of their name and address in order for the minutes to be properly recorded, by presenting a valid form of identification. LIBERT reserves the right to ask any potential buyer to provide proof of identity and bank references and to pay a deposit.

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LIBERT will conduct the sale in a discretionary manner, ensuring free bidding and equality between all bidders, while respecting established practices. The successful bidder will be the highest and last bidder provided that the bid is equal to or higher than any reserve price indicated by the seller. LIBERT reserves the right to refuse any bid for just cause, to organise the auction in the most appropriate manner, to move certain lots during the sale, to withdraw any lot from the sale, to combine or separate lots.

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The blow of the hammer and the pronouncement of the word ‘adjugé’ mark the end of the auction. As soon as the hammer is struck, the contract of sale between the seller and the last successful bidder is immediately formed and ownership of the lot is transferred. The successful bidder will only be able to obtain delivery of the lot once the full price, costs and taxes have been paid.

BUY ORDERS AND TELEPHONE AUCTIONS

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If the buyer is unable to attend the sale in person, LIBERT offers the possibility of bidding by purchase order, by telephone. Purchase orders or telephone bids are a facility for customers; registration must be made before 12 noon on the day of the sale. Only purchase orders and telephone bids confirmed in writing will be considered, accompanied by a photocopy of the bidder's identity document and a means of payment. Please check after sending that your purchase order has been duly registered. LIBERT reserves the right not to register the purchase order if it is not complete

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if it considers that the customer does not provide all the guarantees for the security of the transactions; without possible recourse. To guarantee the buyer's goodwill, a deposit may be requested prior to the sale, which will only be validated in the event of the auction.

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LIBERT will act on behalf of the bidder, according to the instructions contained in the purchase order form, in order to try to purchase the lot(s) at the last price and not exceeding the maximum amount indicated by the bidder. If LIBERT receives several orders for identical bid amounts, the oldest order will be preferred.

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LIBERT may not be held liable for failure to execute the purchase order if the telephone connection is not established or is established late, or in the event of error or omission relating to the receipt of bids by telephone. In the event that LIBERT is unable to reach bidders by telephone, the latter automatically undertake to bid up to the amount of the low estimate. For all practical purposes, LIBERT reserves the right to record telephone communications during the sale.

The recordings will be kept until the price has been paid, unless disputed.

ONLINE AUCTIONS

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Buyers may participate remotely by electronic means in public auctions held in auction rooms. Users wishing to participate in an online auction via Drouotlive must read and accept, without reservation, the terms and conditions of use of this platform (available at https://drouot.com), which are independent of and in addition to these general terms and conditions of sale. As Drouotlive or any other online auction system are independent services, LIBERT accepts no liability in the event of malfunction.

SALE FEES & PAYMENT

In addition to the amount of the bid, the successful bidder must pay the following fees and taxes per lot:

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30% INCLUSIVE OF TAX

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an additional 5.5% temporary import tax for lots marked with an asterisk. In certain cases, these charges may be reimbursed to the buyer.

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The costs payable by the successful live bidders are increased by 1.5% excluding VAT (i.e. 1.8% including VAT). Payment must be made in cash for the full price, including costs and taxes. As the sale is subject to the margin system (art. 297-A of the CGI), the sales slip given to the successful bidder will not show any recoverable VAT. Payment must be made immediately after the sale:

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in cash (euro) up to €1,000 including taxes and charges for French nationals and persons acting on behalf of a company, or up to €15,000 including taxes and charges for foreign nationals (on presentation of proof of address, tax notice, etc.; in addition to the passport).

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by cheque (in euros) made payable to LIBERT, with proof of identity. Foreign cheques are not accepted. If a cheque is presented, only the cashing of the cheque will be considered as payment. LIBERT reserves the right not to deliver the prize until the cheque has been cashed.

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by bank card (except American Express).

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by ‘3D Secure’ payment on the LIBERT website. https://libert-associes.com.

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by bank transfer in euros or by SWIFT to the following address

BNP PARIBAS - Paris Centre Affaires et Conseil (03120) 8-10 avenue Ledru Rollin - 75012 PARIS

IBAN: FR76 3000 4008 2800 0106 8295 776 BIC: BNPAFRPPPCP

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LIBERT will not be obliged to pay the seller until it has itself been paid by the successful bidder.

RIGHT OF WITHDRAWAL

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The right of withdrawal applies only to ‘Online-only’ auctions, which take place over the Internet and involve the display of goods, the taking of bids and the awarding of bids at the end of a given period. They do not allow for the presence of the auctioneer, who intervenes to formalise the bids at the end of the process, or of the public, who can only bid remotely. In this context, where the seller is a professional and the successful bidder is a private consumer not acting for professional purposes, the successful bidder has, in accordance with the law, a right of withdrawal which may be exercised with LIBERT within 14 calendar days of taking possession of the lot.

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In the event of exercising the right of withdrawal within the aforementioned period, the successful bidder must inform LIBERT in a clear and unambiguous manner of his intention to exercise his right of withdrawal.

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From the date of notification of his decision to withdraw, the successful bidder must return the item to LIBERT as soon as possible. In order to guard against fraudulent manoeuvres, LIBERT reserves the right to ensure the integrity of the item returned by the successful bidder.

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Once the item has been returned to LIBERT, the successful bidder will be reimbursed by LIBERT for all the sums paid.

NON-PAYMENT, MEDIATION & DISPUTES

In the event of non-payment of the auction price and costs, formal notice will be sent to the successful bidder by registered letter with acknowledgement of receipt. On expiry of the one-month period following this formal notice and in the absence of payment of the sum due, an additional fee of 10% of the hammer price, with a minimum of €250, will be levied on the successful bidder to cover recovery costs. The application of this clause does not preclude the award of damages and costs of any proceedings that may be necessary, and does not prejudice the possible implementation of the ‘folle enchère’ (irresponsible bidding) procedure. If the seller does not make this request within one month of the auction, the sale is cancelled ipso jure, without prejudice to any damages owed by the defaulting buyer.

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In the event of a dispute between the successful bidder and LIBERT, LIBERT invites the successful bidder to contact its teams in order to attempt to resolve the dispute amicably. In this respect, LIBERT informs the successful bidder of the possibility of submitting a complaint to the Government Commissioner at the Sales Council before initiating legal proceedings.

The successful bidder may consult the procedures for filing a claim and contact the mediator at the following address: https ://https://conseildesventes.fr/fr/reclamation (or by post: Le commissaire du Gouvernement auprès du Conseil des ventes volontaires - 19, avenue de l'Opéra - 75001 Paris).

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In accordance with the law, it is specified that all civil liability claims arising from auctions and voluntary and judicial sales of furniture by public auction are subject to a limitation period of five years from the date of the auction. These general terms and conditions of purchase are governed solely by French law. Any dispute relating to

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their existence, their validity, their enforceability against any bidder or purchaser, and their performance shall be decided by the competent court in the jurisdiction of Paris (France).

WITHDRAWAL OF PURCHASES

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All wines are stored at the CAVES DE MONTQUARTIERS in Issy-les-Moulineaux. Lots can be collected by appointment (confirmation at least 24 hours in advance) from Monday to Thursday from 8am to 6pm and on Friday from 8am to 5pm at the following address:

Les Caves de Montquartiers

5, chemin de Montquartiers 92130 Issy-les-Moulineaux

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Wines may only be collected once payment has been made and the slip has been cashed in full, and on presentation of the slip with the mention ‘acquittée’. Bottles must be inspected on site at the time of collection. No claims will be accepted once the bottles have left the storage area.

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Bottles are stored free of charge until the 31st day after the sale.

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You will be invoiced 25 euros (excl. VAT) per slip for management costs and preparation for the auction in addition to the costs. Beyond this date, you will be billed directly for storage costs of €3 excl. tax/lot/month. Bottles may only be collected after payment of any storage costs.

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Delivery of lots: the Caves de Montquartiers are able to deliver your stored wines (to Paris and its suburbs within 48 hours).

CONDITIONS OF EXPORT

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The export of certain goods from France, whether to a member country of the European Union or not, is subject to the issue of a certificate by the Ministry of Culture (decree no. 2004-709 amending decree 93-124), which it is the responsibility of the successful bidder to request. The fact that an export authorisation is late or refused shall not justify cancellation of the sale, nor any delay in payment of the amount due.

PRE-EMPTION BY THE FRENCH STATE

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The French State has a right of pre-emption in respect of works sold in accordance with current legislation. This right is exercised immediately after the hammer has been struck, the representative of the State expressing the State's wish to take the place of the last bidder, and must confirm the pre-emption within 15 days. LIBERT cannot be held responsible for the conditions of pre-emption by the French State.

DATA PROTECTION

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As part of our auction activities, LIBERT collects personal data concerning sellers and buyers. The latter therefore have a right of access, rectification and opposition to their personal data by contacting the firm directly. LIBERT may use this personal data to meet its legal obligations and, unless the persons concerned object, for the purposes of carrying out its business (in particular, sales and marketing operations). It may also be communicated to the competent authorities where required by law.