A. LOEFFLER (1864-1946), 8. Regiment Armory, New York, around 1890, albumen paper print

All works in this sale are offered with differential taxation according to § 25 a of the Value Added Tax Act (UStG/Vat law), art objects/special regulation. Vat for the artwork purchase price is not shown on the invoice. A buyer's premium of 25% will be charged on all purchases. The buyer's premium includes VAT, but is not shown on the invoice.

Please refere only this english version as the original version of the General Terms and Conditions.

We offer inhouse shipping and handling and will take utmost care to ensure that your purchase arrives safely.

General Terms and Conditions and Client Information of H. W. Fichter Kunsthandel e.K.

Arndtstr. 49

60325 Frankfurt am Main / Germany

VAT-ID-Nr. DE 212112751

HRA Nr. 29667, Ort: Frankfurt am Main

Table of Contents

1. Scope of Application

1. Conclusion of the Contract

1. Maximum Price and Fixed Price

1. Price and delivery costs

1. Shipment and Delivery Conditions

1. Right of Cancellation for Clients

1. Warranty

1. Accessibility of the Online Platform

1. Client's account

1. Privacy policy

1. FINAL PROVISIONS

1) Scope of Application

These General Terms and Conditions (GTC) of the company H. W. Fichter Kunsthandel e.K. (hereinafter referred to as "Seller") shall apply to all contracts concluded between the Buyer (hereinafter referred to as "Client") and the Seller related to all goods and/or services presented by the Seller on the online trading platform.

2) Conclusion of the Contract

1. The product descriptions presented by the Seller on the online trading platform do not constitute binding offers on the part of the Seller, but merely serve the purpose of submitting a binding offer by the Client.

1. The Seller sets a starting price for each work of art presented in an online only auction as well as a deadline within which purchase offers for this work of art can be submitted (hereinafter referred to as the Offer Period).

1. The Client can submit a purchase offer by transmitting a purchase price offer via the relevant functions on the online Portal. A submitted purchase offer is binding for the Client.

1. The Client can correct all the data entered via the usual keyboard and mouse function prior to submitting his binding order. In addition, prior to submitting the order, all data entered will be displayed in a confirmation window and can be corrected here as well, via the usual keyboard and mouse function.

1. The Client's purchase offer will be confirmed by email. This does not constitute a binding acceptance of the offer.

1. At the end of the Offer Period the Seller shall accept the purchase offer of the Client with the highest purchase price submitted through the online trading platform during the Offer Period. This results in a purchase agreement between the Seller and the Client for the specific work of art. Only the highest offer is valid, all other purchase offers by other Clients for this object shall expire.

3) Maximum Price and Fixed Price

1. Within the scope of the online only auction, the Client can immediately state the purchase price he is prepared to pay for the respective work of art (hereinafter referred to as the Maximum Price) when submitting a purchase price offer. If two Clients specify an identical Maximum Price, only the earlier quotation shall be considered; the Client who submitted the later quotation will be informed of this by email.

1. The Maximum Price is not displayed to other Clients; only the current highest bid is always visible.

1. As long as the Client's Maximum Price is higher than the current highest bid of other Clients for the respective work of art, the Client's purchase price offer shall be increased automatically as far as it is necessary for the Client to remain the highest bidder with the Maximum Price bid when submitting further purchase price bids. The automatic increase of the purchase price offer shall take place in the bidding steps specified in the bidding table.

4) Price and delivery costs

1. Prices are indicated in Euro excluding taxes and shipping costs.

1. The shipping costs can be taken from the shipping costs list on the offer page.

1. For deliveries outside of the EU, additional costs may arise such as transfer fees charged by the bank and taxes and/or customs duties. Those costs have to be borne by the Client.

1. Payment can be made using one of the methods mentioned by the Seller on the online trading platform. If payment in advance is agreed, payment is due immediately after conclusion of the contract.

1. All items are offered with differential tax pursuant to § 25a of the Value Added Tax Act (UStG). Vat for the artwork purchase price is not shown on the invoice.

1. The Client will be charged per individual object a premium of 25% on the purchase price. The buyer's premium includes VAT, but is not shown on the invoice.

1. The Seller has the right, in accordance with legal obligations, to ask the purchaser to present a valid identity card, passport, similar identity document and, if necessary, further information to establish the identity of the beneficial owner, to make copies of these for its records and to keep them for 30 years. The buyer undertakes to cooperate in the fulfilment of this legal obligation.

5) Shipment and Delivery Conditions

1. The purchased object shall only be delivered to the Client after receiving the complete purchase price including shipping costs and the buyer's premium.

1. Delivery of goods shall be made on the dispatch route to the delivery address indicated by the Client, unless otherwise agreed upon. The delivery time is specified on the Seller's order detail page.

1. Should delivery to the Client not be possible, the assigned transport company returns the goods to the Seller and the Client bears the cost for the unsuccessful dispatch.

6) Right of Cancellation for Clients

1. Clients are entitled to the right to cancel.

1. Detailed information about the right to cancel are provided at the end of these General Terms and Conditions.

1. If the Client make use of your right of cancellation, the Client shall bear the costs of the return.

7) Warranty

All items offered by the Seller at the Online Platform are used. The state of the condition is mentioned in the offer by the Seller upon reviewing the overall visual appearance of the object. The absence of information on the state of preservation thus has no explanatory effect and in particular does not constitute a guarantee or quality agreement in the sense of purchasing law.

8) Accessibility of the Online Platform

1. The Seller shall not be liable for the uninterrupted and fault-free accessibility and usability of the Online Platform insofar as the Seller is not responsible for this. This applies in particular to damages and disadvantages arising from the fact that the buyer was unable to submit his purchase price bids or was late in submitting them due to such a fault, or that these bids were not received or were received late.

1. If no purchase price offers can be submitted at times due to a fault, the Seller may extend the Offer Period by the duration of the fault.

9) Client's account

1. The Client requires an account at online trading platform and shall hold auctions via the platform. The participation in the online only auctions requires the registration of a client's account. When entering the personal data required for registration, the client is responsible for the complete and truthful provision of this information. The transmission of the entered data takes place by clicking the "Register" button. The registration and activation of the client's account will be confirmed to you by email.

1. There is no legal claim to the acceptance of a Client for an online only auction by the seller. The seller is free to accept or reject an participation.

10) Privacy policy

1. Personal data will only be collected if the Client provides this information on his accord for the processing of a contract or when registering for a newsletter. Those data will only be used for the processing of a contract and for Client's inquiries.

1. The Client's e-mail will be used solely for own advertising purposes, if he has expressly consented in this regard. The Client can withdraw his consent vis-à-vis the Seller at any time.

1. In the framework of contract processing the Client's personal data will be transferred to the transport enterprise in charge of delivery, as far as this is necessary for delivering the goods.

1. After full implementation of the contract and complete purchase price payment the Client's data will be stored on account of the preservation period in accordance with tax and commerce laws. Upon expiry of such period those data will be deleted, unless the Client has expressly consented to the further use of his data.

1. The Client has a right to get information free of charge about his stored data and, if he so wishes, he has the right to correction, blocking or deletion of those data. For questions regarding the collection, processing or use of his personal data he can turn to the Seller, free of charge.

11) FINAL PROVISIONS

1. German law shall apply exclusively. The place of performance and jurisdiction is, as far as legally permissible, Frankfurt am Main.

1. If one or several provisions of these General Terms and Conditions should be or become invalid, then the validity of the remaining other provisions shall not be affected thereof. In this case, the contracting parties undertake to replace the invalid provision with a valid provision that comes as close as possible to the meaning and purpose of the invalid provision.

1. These General Terms and Conditions shall govern all relations between the seller and the client. General terms and conditions of the client shall not apply. No verbal ancillary agreements have been concluded. Amendments to these General Terms and Conditions are to be made in writing; this shall also apply for the relinquishment and waiver of this writing requirement.

Instructions for cancellation & Cancellation form

Clients, i.e. any individual acting for purposes which are wholly or mainly outside those individual's trade, business, craft or profession, are entitled to cancel any contract on the following conditions:

A. Instructions for cancellation

Right to cancel

You have the right to cancel this contract within 1 month without giving any reason.

The cancellation period will expire after 1 month from the day on which you acquire, or a third party other than the carrier and indicated by you acquires, physical possession of the goods.

To exercise the right to cancel, you must inform us (H. W. Fichter Kunsthandel e.K., Arndtstr. 49, 60325 Frankfurt, Deutschland, Tel.: +49 (0) 69-74389030, Fax: +49 (0) 69-747946, E-Mail: [email protected]) of your decision to cancel this contract by a clear statement (e.g. a letter sent by post, fax or e-mail). You may use the attached model cancellation form, but it is not obligatory.

To meet the cancellation deadline, it is sufficient for you to send your communication concerning your exercise of the right to cancel before the cancellation period has expired.

Effects of cancellation

If you cancel this contract, we will reimburse to you all payments received from you, including the costs of delivery (except for the supplementary costs arising if you choose a type of delivery other than the least expensive type of standard delivery offered by us) without undue delay and not later than fourteen days after the day on which we are informed about your decision to cancel this contract. We may make a deduction from the reimbursement for loss in value of any goods supplied, if the loss is the result of unnecessary handling by you. We will make the reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise. In any event, you will not incur any fees as a result of the reimbursement. We may withhold reimbursement until we have received the goods back or you have supplied evidence of having sent back the goods, whichever is the earliest.

You shall send back the goods or hand them over to us without undue delay and in any event not later than fourteen days from the day on which you communicate your cancellation from this contract to us. The deadline is met if you send back the goods before the period of 14 days has expired.

You will bear the cost of returning the goods.

You are only liable for any diminished value of the goods resulting from the handling other than what is necessary to establish the nature, characteristics and functioning of the goods.

Exclusion and/or premature expiration of the right to cancel

The right to cancel does not apply for consumers who, at the time of concluding the contract, are not nationals of a member state of the European Union and whose exclusive residence and address of delivery are located outside of the European Union.

General information

1. Please prevent damage to and contamination of the goods. Please return the goods, if possible, in the original packaging with all accessories and all packaging components. If necessary, please use protective outer packaging. If you are no longer in possession of the original packaging, please use suitable packaging providing adequate protection against potential transport damage.

1. Please do not return the goods freight forward.

1. Please note that the above general information in section 1 and 2 is not a precondition for effectively exercising your right to cancel.

B. Cancellation form

If you wish to cancel this contract, please complete and submit this form.

H. W. Fichter Kunsthandel e.K.

Arndtstr. 49

60325 Frankfurt

Deutschland

Fax: +49 (0) 69-747946

E-Mail: [email protected]

I/We (*) hereby give notice that I/We (*) cancel my/our (*) contract of sale of the following goods (*) /for the supply of the following service (*),

Ordered on (*) / received on (*)

Name of consumer(s)

Address of consumer(s)

Signature of consumer(s) (only if this form is notified on paper)

Date

(*) Delete as appropriate

H.W.Fichter's 1st Timed Sale on Drouot, this Auction features artworks by the following artists:

Aberli, Johann Ludwig; Achenbach, Andreas; Adam, Victor Vincent; Agricola, Luigi; Ahrendts, Konrad; Aloja, Vincenzo; Alt, Rudolf; Amadeus-Dier, Erhard; Anderson, Domenico; Artaria, Mathias d. J.; Atkinson, John Augustus; Balestrieri, Lionello; Barocci, Federico; Bary, Eduard Robert; Bayonne, A; Beham, Hans Sebald; Bella, Stefano; Bellangé, Hippolyte; Bellermann, Ferdinand Konrad; Benoist, Philippe; Bergmüller, Johann Georg; Bergner, Jakob Christian; Bertrault, Louis; Borch, Gerard Ter; Boris, Laszlo; Bouguereau, William Adolphe; Bree, Philippe Jacques; Bretenières, Edmond; Brogi, Giacomo; Brueghel, Jan; Brusa, Giovanni Battista; Bülow, ; Bunbury, Henry William; Burney, Edward Francis; Bussière, Théodore; Cambiaso, Luca; Camphausen, Wilhelm; Cassas, Louis François; Castiglione, Giovanni Benedetto; Caylus, Anne Claude Philippe; Chagall, Marc; Chéron, Elisabeth; Choulant, Ludwig Theodor; Cignani, Carlo; Clarke, William Barnard; Clasen, Carl; Cortona, Pietro; Cottafavi, Gaetano; Creti, Donato; Czerny, Ludwig; d'Anna, Alessandro; Danse, Louise; Daumier, Honoré; de Keyser, Nicaise; de Pian, Antonio; Deuchar, David; Devéria, Achille; Dielmann, Jakob Fürchtegott; Dies, Albert Christoph; Dinkel, Markus; Dolcibene, V.; Dura, Gaetano; Dürer, Albrecht; Duvivier, Ignace; Dyck, Anthonis; Eilers, Gustav; Erler, Georg; Ermels, Johann Franz; Eyck, Jan; Faber du Faur, Otto; Fergola, Luigi; Ferri, Ciro; Fischer-Gurig, Carl Franz Adolf; Fischer, Ludwig Hans; Florianello, V.; Frank, Hans; Fratelli Alinari, ; Freudweiler, Heinrich; Frith, Francis; Füssli, Rudolf Heinrich; Gabbiani, Anton Domenico; Gamelin, Jacques; Gauermann, Friedrich; Géniole, Alfred-André; Gigante, Giacinto; Girodet-Trioson, Anne-Louis; Götzloff, Carl Wilhelm; Grass, Herbert; Grasso, Carlo; Grobon, ; Guérard, Nicolas; Haach, Ludwig; Haccou, Johannes Cornelis; Handmann, Emanuel; Hänisch, Alois; Heintz, Josef; Helleu, Paul César; Hemken, Ernst; Hersent, Louis; Hertel, Albert; Heseltine, John Postle; Hess, Heinrich Maria; Hessemer, Friedrich Maximilian; Hilair, Jean-Baptiste; Hilgers, Carl; Hoffmann, E.T.A.; Hogarth, William; Hogenberg, Franz; Hoguet, Charles; Hoguet, Louis; Hone, Nathaniel; Horner, Friedrich; Ihle, Johann Eberhard; India, Bernardino; Jones, Samuel John Egbert; Kaulbach, Wilhelm; Kehren, Josef; Kilian, Wolfgang Philipp; Kindler, Albert; Klein, Johann Adam; Klengel, Johann Christian; Kobell, Ferdinand; Kobell, Franz; Kölliker, David; Krauskopf, Justus; Kunike, Adolph Friedrich; Lallemand, Jean-Baptiste; Langley, Walter; Lasch, Carl Johann; Lefebvre, Claude; Lindahl, Axel; Linder, Philippe Jacques; Loeffler, August; Loeillot-Hartwig, Karl; Lucq, Eugène; Lyon, Anton Vincentius; Mantegna, Andrea; Maratta, Carlo; Marchand, Célestin-Eugène; Martin, William; Maurin, Antoine; Mechau, Jakob Wilhelm; Merian, Matthäus; Metz, Cäsar; Meyer, Eduard; Morel Fatio, Antoine Léon; Mühlig, Bernhard; Münster, Sebastian; Naya, Carlo; Oberländer, Adolf; Overbeck, Friedrich; Paris, Alfred; Parlo, Percy; Pauwels, Ferdinand Wilhelm; Peipers, Jakob Friedrich; Pfeiffer, Carl Hermann; Piranesi, Francesco; Piranesi, Giovanni Battista; Piroli, Tommaso; Poirot, J.; Potter, Paulus; Potthast von Minden, Olga; Prell, Hermann; Preller, Friedrich; Price, William Lake; Primavesi, Leo; Prout, Samuel; Püttner, Richard; Quinkhard, Jan Maurits; Reinhart, Johann Christian; Reni, Guido; Rentsch, Fritz; Retzsch, Moritz; Reynolds, Joshua; Rhomberg, Hanno; Richter, Adolf Heinrich; Rigaud, Hyacinth; Rijn, Rembrandt Harmenszoon; Ritter, Henry; Robert, Hubert; Rohr, Wilhelm; Rops, Félicien; Rubens, Peter Paul; Rugendas, Georg Philipp; Ruß, Karl; Saftleven, Herman; Salviati, Paolo; Sanzio da Urbino, Raffaello; Savigny, Marie; Schall, Fréd; Scheffer von Leonhartshoff, Johann Evangelist; Schellenberg, Johann Rudolf; Schick, Rudolf; Schindler, Johann Josef; Schleuen, Johann David; Schmidt, ; Schmidt, Martin Johann; Schönchen, Leopold; Schrader, Julius; Seale, R. W.; Selmer, Marcus; Seutter, Matthäus; Simon-Schaefer, Hans Albert; Sirani, Elisabetta; Sommer, Giorgio; Sonntag, Eduard; Stadler, Toni; Stanfield, Clarkson Frederick; Stauffer-Bern, Karl; Steinmüller, Christian; Stengel & Co., ; Steppes, Edmund; Stieler, Joseph Karl; Sturm, Friedrich; Swanevelt, Herman; Taylor, Leonard Campbell; Teniers, David; Thierry, Joseph François Désiré; Thoma, Hans; Thorén, Per Adolf; Tyroff, Martin; Uffenbach, Johann Friedrich Armand; Uppink, Willem; Vauthier, Jules Antoine; Vautier, Benjamin; Vecellio, Tiziano; Velde, Esaias; Venus, Albert; Vernet, Claude Joseph; Wagner, Ludwig Christian; Wallis, George Augustus; Wallis, Trajan; Waterloo, Anthonie; Weber, August; Wichura, Ernst; Wieschebrink, Franz; Wilkins, Henry; Zürner, Adam Friedrich