TERMS AND CONDITIONS OF THE WEBSITE

Article 1 – General Use

Expertissim is a public company with a capital of 181 544 €, whose head office is located at 10, rue d' Uzès, Paris 75002, and registered in the Registre du Commerce et des Sociétés de Paris under the number 498 739 630.

Expertissim provides to the sellers-consignors (hereinafter "Consignor(s)") an internet platform www.expertissim.com (hereinafter "The Website") so that they may put on sale, in the best conditions of transparency and security, their artworks (hereinafter "The Item(s)"), presented and appraised by specialized experts.

The terms and conditions presented here explain the rights and the obligations of all parties in relation to the use of the Website and to the sale of Items through it. The User of the Website ( hereinafter "User(s)"), Consignor or buyer (hereinafter "Buyer(s)"), declare he has understood and agreed these rights and obligations.

Expertissim reserves the right to change these Terms and Conditions at any time. Any new version will be beforehand indicated on the front page of the section " Help ". The Users who do not wish the contractual relations to be governed by this new version should inform Expertissim and stop using the Website.

On the supposition that one of stipulations of the Terms and Conditions would be considered illegal or non-invocable by a legal decision, the other conditions remain in effect.

Expertissim, as the representative of the Consignor, does not participate in the sale contract which is an agreement binding exclusively the Consignor and the Buyer.

Article 2 - Conditions of Registration and Use of the Website

The registration on the Website is free. Only the registered Users can request a pre-valuation, submit a sale order, submit a purchase order, accept a sale order and conclude an online sale.

The registration on the Website is subject to the following cumulative conditions: the User must indicate his phone number, email address, and a postal address in order to deliver the Item(s) he had purchased. He agrees to provide Expertissim accurate, complete and correct information and keep them up to date. He agrees to inform Expertissim promptly of any change, in particular information concerning address or email address. Failing this, the User shall bear the consequences.

When registering, an account is created in the name of the registered User who will beforehand have chosen a username (his email) and a password. The User can access his account via his Username (his email) and password.

The Username (his email) and password are kept strictly personal and confidential. The User registered on the Website should not divulge this information. Unless he can provide evidence of fraud, the User is solely responsible for any sale(s) conclude by a person using his User name and password, and he alone shall bear the consequences.

The User agrees to reveal any use by a third party of his Username and password as soon as he has knowledge of it.

The User must not create or use other accounts other than the sole account initially created. The User accepts that Expertissim save any documents, information and recordings relating to his activity on the Website.

In case of non-compliance with the present Terms and Conditions of use and sale, Expertissim reserves the possibility of removing the Item from sale at any time.

Article 3 – Consignor

a. Pre-valuation

The User who wishes to sell an Item on the Website or who wishes to have a temporary valuation must request a pre-valuation based on photos, by filling up the online form "Request a pre-valuation".Each pre-valuation costs 1 credit, that is 5 € (VAT included).The request is transferred to a general expert and a specialized expert if needed, who makes a first valuation based on photographs.Expertissim guarantees to answer within three weeks after receipt of all required information, that is when the status of your request is "in progress".The User will receive an email with the "Valuation Certificate".

Condition of execution: Since the pre-valuation is based on photos and on the description the User gave us, the Valuation Certificate is always given as a guideline, for personal use only and subject to change once we see the Item. It cannot replace the final valuation or appraisal. Then, with the agreement of the User, we will proceed to the final appraisal in Expertissim's premises.If the Item is sold, the credit used for the pre-valuation will be refunded.

b. Consignment

A Statement of object deposit is signed between the Consignor and Expertissim, a document which recognizes that Expertissim accepted the Consigned Items in its premises as described in their pre-valuation and their eventual sale. The assigned Consigned Item is appraised and estimated for the Consignor by a specialized expert (hereinafter the "Expert ") among the expert partners or employees of the Expertissim Website. Please review the expert’s details and presentation under "Experts" on the Website. Appraisal is made solely for the sale of the Consigned Item on the Website and may not be used for any other form of sale.

In case the deposit of the Consigned Item is not followed by a sale on the Website, the Consignor signs a Statement of objects with Expertissim which recognizes that the Consigned Item was returned to Consignor in unchanged condition. Storage fees of € 5 per day will be charged to the Consignor when beyond the three hundred sixty-five clear days has elapsed after the issue of statement of object.

c. Sale Mandate

As of the signing of the Sales Agreement, and throughout its implementation, the Consignor is prohibited from intervening or involve anyone in the sale in any manner whatsoever. The Consignor is specifically prohibited from removing the Consigned Item entrusted for sale. However, if the Consigned Item is removed from sale by the Consignor, before the ending period of the Sales Agreement, any administration fees remain with Expertissim. In addition, the Applicant shall be liable to Expertissim of the sum amount of € 500 (five hundred euros). This sum is not exclusive to any damages that Expertissim further reserves in the right to claim in compensation for damages.

d. Property and Guarantees

The Consignor certifies that he or she has reached majority of age and has full legal capacity. The Consignor certifies to Expertissim that he or she is the only and legitimate owner of the undisputed Consigned Item; and he or she can transfer the ownership of that Consigned Item properly. It ensures that the Consigned Item offered for sale is not subject to any judicial or extrajudicial action and that its origin is neither tort or questionable. Expertissim reserves the right to terminate at any time the Sales Agreement and withdraw from sale any object for which it would have a doubt on the owner’s provenance or identity (theft, receiving stolen, etc.).The Consignor must provide identification (identity card, passport , etc.) to Expertissim. Expertissim may refuse to place the Consigned Item on sale for legitimate reasons; especially if the Consigned Item’s quality is questionable.

e. Selling price

The estimate of the Item entrusted to Expertissim is made by the Expert in accordance with the Consignor, who determine a range of value in Euros.The high estimate of the Item corresponds to the price at the beginning of the sale.This value decreases automatically once a week during the whole term of the Sale Mandate, until reaching the low estimate.This range of value and this sale schedule are explicitly accepted by the Consignor when signing the Sale Mandate.Expertissim agrees not to offer the Item at a price below the low estimate agreed by the Consignor, unless otherwise noted.The selling price of the Item is received through an escrow account. The representation of the funds held on behalf of others is duly guaranteed.

f. Fees

The Consignor agrees to a commission equal to 15% including VAT tax on items sold at a price below 600 € and 5% including VAT tax on items sold at a higher or equal to 600 €. When the object is sold, the commission is deducted from the balance due . Additional charges (any taxes, customs fees and forwarding or transportation costs) may be proposed by Expertissim and agreed with the Consignor. The delivery costs of the Consigned Item to the Expertissim office are of the Consignor’s responsibility. When the consignor signs a contract of sale with one of our correspondents out of the French territory, the commission applied is the one of our partner company.

g. Start of Sale - End of Sale

Expertissim will make its best efforts to post on-line the Consigned Item after the signing of the Sales Agreement by the Consignor, within thirty days of the Consigned Item’s deposit at Expertissim, at 10, rue d'Uzes ( Paris 75002 ) or 4 / 8 Quai de Seine ( Saint-Ouen ). The online sale of the Consigned Item and the automatic price reduction for successive periods is suspended when a Buyer has agreed to its purchase. The Consigned Item is removed from online sale when Expertissim has cashed the entire amount of the acquired object from the Buyer.

The words "pending purchase" appears on the Consigned Item when Expertissim is pending payment from the Buyer (see Article 4, paragraph b). The word "pending purchase" can not exceed 10 calendar days, a period beyond which the Item will be re-listed for sale by Expertissim.

h. Payment

Provided that the Buyer retract his offer, Expertissim guarantees to pay the Consignor the net proceeds of sale within 30 days. The seller's commission and possible additional costs previously agreed will be deducted from the total amount.

i. Effects of the Sale Mandate

As of the signing of the Sales Agreement, and throughout its implementation, the Consignor is prohibited from intervening or involve anyone in the sale in any manner whatsoever. The Consignor is specifically prohibited from removing the Consigned Item entrusted for sale. However, if the Consigned Item is removed from sale by the Consignor, before the ending period of the Sales Agreement, any administration fees remain with Expertissim. In addition, the Applicant shall be liable to Expertissim of the sum amount of € 500 (five hundred euros). This sum is not exclusive to any damages that Expertissim further reserves in the right to claim in compensation for damages.

j. Non-completion of Sale

If at the end of the Sales Agreement, the Consigned Item has not been sold, the Consignor may choose to either allow further sales of the Consigned Item and comply with new agreed provisions with Expertissim; or retrieve the Consigned Item at Expertissim. When the Consignor has not withdrawn the Consigned Item, he/she allows Expertissim to sell the Consigned Item at the low value of the estimate. If the Applicant does not wish to sign a new Sales Agreement and does not allow Expertissim to sell the Consigned Item at the low value of the estimate, the Consignor must either: - Remove the object only by appointment at Expertissim’s showroom in Paris, 75002 or warehouse at Quai de Seine, Saint-Ouen (93 - outside of Paris); - Have delivered, provided that the shipping costs are the responsibility of the Consignor.

Storage fees will be charged to the Consignor of € 5 (five euros) per day per subject beyond the three hundred sixty-five days has elapsed after the issuance of the statement of objects.

k. Taxes

In addition, the following taxes may be applicable:

Article 4 - Buyers

Only persons legally of age and registered can buy on the Website. Anyone interested in an item on the Website may make an appointment with Expertissim to see the item. Appointments are made at the following number: +33 1 75 43 05 24. Any person may also ask to speak with the Expert who presents the item by filling out the "Contact Us" form.

Expertissim reserves the right to reject any Buyer with whom there is a dispute or would not provide the necessary guarantees of solvency.

a. Selling Price

The purchase price of the Consigned Item that is registered on the Webite at the time the Buyer clicks the "Buy" button. Expertissim charges a commission of 25% VAT to the Buyer which is calculated and paid at the same time as the Consigned Item is acquired. Commission fees and taxes of the selling price are given distinctively on the Consigned Item’s page. The same fees apply for all Consigned Items presented. Delivery charges (including packing, insurance, and other formalities may be required) are at the discretion of the Buyer, added to the purchase price, in step 2 of the purchase process.

b. Terms of Purchase and Payment

The Buyer has the option to acquire exclusively on the Website. The Consigned Item is considered to be definitively established when a Buyer agrees to purchase. However, it is kept on-line with the phrasing "pending purchase" until full payment of the Consigned Item is completed; provided that if the payment is not made within 7 days of the agreement, the sale becomes null.

However Expertissim reserves in the case of agreement abuse, all rights to cancel the Item for the Buyer and take all appropriate measures to prohibit its Website from the Buyer for a timely period.

Payment is made in currency. Buyer may choose from the following methods of payment:

,- by check, issued by a French bank (a valid ID may also be requested),

The data registered with Expertissim constitute proof of all transactions between Buyer and Consignor on the Website.

Payment facilities can be arranged per Buyer’s request if the purchased object is acquired for an amount greater than €4,000 (four thousand euros).

c. Default on Payment

All payments must be completed by Expertissim within 7 days after registration of the online transaction. In case of non-recovery of payment by Expertissim within 10 calendar days after registration of the online transaction, Expertissim reserves the right to simply cancel the sale and re-list the Consigned Item on the Website.

d. Displaying sold Consigned Items

Buyer may choose to hide the sale price and the estimation of Consigned Item in step 3 of purchase process. In this case, the wording "NC" (for "non communicated") replaces the selling price and the estimated appraisal. Expertissim then agrees not to disclose the price and the estimation of Item has the caption "NC".

The description of the object, as well as photographs of the object on the Site remain online after the sale, in perpetuity. Pursuant to the exercise of its copyright, Expertissim reserves the right to unilaterally refuse any request by the Buyer that seeks to challenge the publication, dissemination and reproduction of photographs, and Expert’s description of purchased Item.

e. Delivery – Withdrawal of Item

Expertissim will notify the Buyer systematically by e-mail, on behalf of the Consignor, the fully paid price and the conditions for retrieving the acquired Item. No Item will be given to the Buyer before payment of all sums due and ratification of the sale.

The Consigned Item may, at the option of the buyer:

Expertissim can administer all the paperwork necessary for the export of purchase (customs, export license, etc.). However Expertissim not be held liable due to a refusal or an administrative withdrawal.

f. Right to Withdraw

Under the legislation on sales of goods and services at a distance, especially of Article L. 121-20 of the Consumer Code, the Buyer-consumer has a period of 14 calendar days of receiving the purchase, to withdraw without any reasons and incurring penalties, except, where applicable, the cost of return. It is stated that the legal right of withdrawal only applies when the Seller is professional and the Buyer is a personal consumer. If possible exercise of the right of withdrawal, the Buyer shall be refunded as soon as possible and no later than 30 days following the date on which the right of withdrawal is exercised. This reimbursement shall be made by any means of payment except cash. Expertissim disclaims all liability in respect of a parcel returned by the Buyer without tracking. No refund will be given if the item is not returned to Expertissim in full, in its sold condition, and packaged in the original material. No refunds will be given to the Buyer past the statutory period of withdrawal, except in the cases expressly mentioned in Article 4f of these Terms and Conditions.

g. Complaint

Items are sold by Expertissim are works of art, antiques and used items, sold as described by the Expert on the Website and on the invoice. Expertissim reserves the right to unilaterally refuse any request to impose on the Company any costs of repair or restoration due to the wear and use of the object.

If the Buyer declares a loss, chip, crack, or any other damages on the Item that had not been described by the Expert or not visible on the Item’s photographs of the object; and losses, chips, cracks or damage that occurred post-Purchase, the Buyer shall have 48 hours to make a claim by contacting the Logistics Department at the following number +33 1 81 82 24 20 or Customer Service at the following number: +33 1 75 43 05 24. After review and acceptance of the complaint in writing by Expertissim, the Buyer has 14 calendar days to return the Item. Return costs are the responsibility of Expertissim based on the published rates per Colissimo La Poste, and upon presentation of proof of shipment. Expertissim will reimburse the Buyer within 30 calendar days of receiving the Item. This reimbursement shall be made by any means of payment except cash. Expertissim disclaims all liability in respect of a parcel returned without tracking from the Buyer. No refund will be given if the item is not returned to Expertissim in full, sold condition, and packaged in the original material. No other refunds will be given on behalf of Buyer except in the precise cases.

The expert’s description listed on the Website and invoice is the responsibility of Expertissim for a period of ten years from the delivery of the purchased Item. Expertissim will reimburse the Buyer the price of a purchased object if the error of the Item’s identification is proven.

h. VAT refund - Refund of VAT on exportations outside the European Union

Any VAT charged will be refunded to non-residents of the European Union, provided that they make a written request to the Purchase Manager or Customer Service within three months after the validation of the purchase payment and upon presentation the appropriate copy of the customs document of exportation (SAD) which should note Expertissim as Seller. The export must occur within the statutory period of three months from the date of purchase.

The VAT charged will be refunded to professional buyers of another member state of the European Union, provided that they make a written request to the Purchase Manager, Logistics Service or Customer Service within one month from the date of purchase. VAT will be refunded upon presentation of the intra-community number and tracking number of shipped lots to that other State in accordance with the administrative rules within one month from the date of purchase.

For further information on measures taken by Expertissim for the reimbursement of VAT please contact Camille Heurtaut, Purchase Manager via phone at the following number +33 1 82 83 74 10 or email at achats@expertissim.com.

Article 5 - Responsibility / Liability

a. General

Expertissim is responsible with respect to the Consignor as well as Buyer, the representation of the price and delivery of the Item which it made for sale. The sold Item may not however, be given to the Buyer when the full price is not paid to Expertissim or when any guarantee is not fulfilled for payment by the Buyer.

b. Appraisal

Expertissim declares having contracted insurance covering professional liability. This coverage extends involved Experts. In this respect, the following provisions, enacted by Decree No. 81-255 dated March 3, 1981 concerning the suppression of fraud in transactions involving art and collectibles as outlined :

c. Delivery

Expertissim will only ship the items when they have been paid for in full (receipt of payment). The delivery period shall be maximum 30 days after receipt of payment in the case of deliveries within the EU, and 40 days for deliveries to countries outside the EU. Delivery periods can be postponed, especially in case of goods which are related to the protection of species and cultural assets, because of official requirements for the ex- and import (for example export and import licenses). Expertissim shall not be liable for delays based on aforementioned circumstances. It is at the expense of a buyer, if a successful delivery to the buyer is not possible due to import regulations. This means that the buyer has to ensure before the conclusion of a purchase agreement with Expertissim that import regulations do not interfere a successful delivery.

If, immediately upon receipt of the item, it should be discovered that the item has suffered severe damage during shipping, the customer should retain the packaging as evidence, since otherwise proving that the damage occurred during transit is considerably more difficult for Expertissim or may even be impossible. Please contact us within 48 hours in such a case.

For consumers, the statutory provisions shall apply, i.e. under no circumstances shall the consumer bear the risk of conveyance during shipping.

Article 6 - Personal data

Expertissim undertakes not to disclose to third parties the information provided by Users on the Website. These are private. They will be used by Expertissim’s internal services only for the management of offers of sale and purchase, and to reinforce and personalize the communication including letters and e-mails. Such information may be used within the framework of customizing the site according to the preferences of the users.

Expertissim does not sell, commercialize and rent to third parties any information about its Users. Expertissim may send to its Users information and commercial offers from its partners when they have accepted so upon registration on the Website. In case of sale or use by third parties of personal data, Expertissim agrees in advance to inform the User to allow them to exercise their right to object. Expertissim may also provide consolidated statistics about its Users, sales, or any other information on the Website to trusted third parties, but these statistics will include no personal data. This article shall not prevent the sale or transfer of business to a third party. Therefore, in accordance with the Data Protection Act of January 6, 1978, the User can exercise their right of access to the file and the right to correct and delete information about the User, by sending a request (indicating e -mail, name, and postal address), via the Contact form online under "I want to change my contact information" and "I want to cancel my account Expertissim", or by email to one of two following addresses: contact@expertissim.com or paulinebalayer@expertissim.com, or by mail at the following address: 10 rue Expertissim Uzès, 75002 Paris.

Article 7 - Customer Service

For any information, question or complaint, the User may contact Expertissim Monday to Friday from 9:30 to 18:30 Central European Time in Customer Services located at 10 rue d'Uzès, 75002 Paris, via telephone at: +33.1 .75.43.05.24, and email at the following address: paulinebalayer@expertissim.com.

Article 8 - Disputes - Applicable law

These terms and conditions initially transcribed in French than translated into English, will be executed and interpreted in accordance with French law. In case of litigation, the User and Expertissim will use their best efforts to reach an amicable solution. Otherwise, the French courts will have jurisdiction

Article 9 - Amendment of service or conditions of use

Expertissim reserves the right to make changes to the Website, procedures, Terms and Conditions, including presented Sales Conditions at any time.

Buyer is subject to Terms and Conditions, procedures and Sales Conditions enacted when ordering an Item, unless a change to these Terms and Conditions, or presented Sales Conditions is required by an administrative or governmental authority (in this case, the change could also potentially be applied to previous orders the Buyer has made).

If any provision of these Terms and Conditions is deemed invalid, void or unenforceable, for whatever reason, that provision shall be deemed severable and shall not affect the validity and effectiveness of the remaining provisions.