FRANCK MULLER CHRONO MASTER OF COMPLICATION N. 48 IN YELLOW GOLD - From 1990

A surcharge of 3% will be applied to all lots purchased on Drouot platform in addition to the buyer's premium as describer below.

CONDITIONS OF SALE

Taking part in an Auction implies the entire and unconditional accep-

tance of the Conditions of Sale outlined in this Catalogue. Bidders are

required to read carefully the section of the Catalogue containing the

purchase terms of the Lots for sale by ART CONTACT SARL (hereafter

ART CONTACT).

ESTIMATES

Beside each Lot description in the Catalogue there is an indication of

the Estimate for poten-tial Purchasers. In each case, all the Lots, in light

of market interest, may achieve prices that are either superior to or in-

ferior to the indicated Estimates. The Estimates published in the Auc-

tion Catalogue may be subject to revision and do not include the

purchase commission (buyer’s premium) and VAT.

RESERVE

The reserve price corresponds to the minimum price agreed upon bet-

ween ART CONTACT and the SELLER, beneath which the Lot will not be

sold. Lots offered with no reserve are indi-cated in the Catalogue with

the Estimate in RED and with the description O.l. These Lots are sold to

the highest Bidder independently of the published Estimates.

VIEWING BEFORE THE AUCTION

Each Auction is preceded by a Viewing which is open, admission free,

to the public. Opening times are shown in the first few pages of this Ca-

talogue. The Viewing enables all Purchasers to undertake an appro-

priate examination of the Lots for sale and to verify all aspects related

to the Lot, such as authenticity, state of preservation, materials and pro-

venance etc.

WATCH AND CLOCK SALES

The descriptions in the catalogue for watches and clocks in relation to

preservation and/or restorations are given as guidelines to the pro-

spective buyer but may under no circumstance be considered all-in-

clusive.

The Condition Reports which ART CONTACT may send, on request of

a prospective buyer, do not reflect an exhaustive description and so-

me restorations or imperfections may not be mentioned.

Condition Reports are statements of opinion given by our Experts and

are purely subjective and do not constitute a guarantee that may sub-

stitute a direct examination by the prospective buyer.

Prospective buyers should personally inspect the condition of each lot

in order to ascertain its effective state, both from the technical and the

aesthetical points of view.

Lots are sold in their present state and the fact that an imperfection or

a restoration is not mentioned does not imply that the imperfection

or restoration does not exist. Watches, be-cause of their mechanical

and functional nature, are normally used and kept up and possibly re-

paired, in the course of their existence: they are examined by the Ex-

perts of ART CONTACT prior to the sale, but ART CONTACT gives no

guarantee that they are in working order, free of repairs or in the pre-

sence of non-original parts.

Wristwatches in water-resistant cases have been opened to examine

their movements: therefore, ART CONTACT suggests that such a watch

be controlled by an authorized dealer before using the same in condi-

tions where water is present.

As concerns quartz movement watches, no information is given

about working order if the battery, at the moment of examination,

is discharged.

All documents regarding watches, if not otherwise specified, are

not present.

All straps and bracelets, if not otherwise specified, are not to be considered

original.

Straps made of organic material are associated with the watch for di-

splay purposes only: prospective buyers are aware that the importa-

tion to foreign countries of materials derived from endangered or

otherwise protected species (purely as an example: tortoiseshell, ivory)

are subject to CITES international rules.

Prospective buyers should therefore acquire the necessary information

on such restrictions prior to their participation in the sale for lots con-

taining, even though partially, materials fal-ling under these rules.

Indications of weight, if included in the Condition Report, are to be

considered gross and pu-rely indicative, as are weights in carats of pre-

cious stones, indications of the nature of pre-cious stones or other pre-

cious materials and measures of cases.

STATE OF PRESERVATION

The Lots are sold in their current state. We recommend, therefore, that

potential Purchasers check the state of preservation of the Lots/s, as

well as the type of Lot/s being offered, before the Sale. The Experts of

ART CONTACT will be happy to provide upon request reports on the

state of preservation of the Lots on sale. The descriptions in the Cata-

logues merely represent the opinion of our Experts and may be subject

to further revisions that will, in due course, be given to the public du-

ring the Auction.

TAKING PART IN AN AUCTION

Taking part in an Auction may occur by means of the Bidder being pre-

sent in the Auction Room, or by means of written or telephone Bids

that ART CONTACT will gladly carry out for potential Purchasers. This

service is free of charge and, therefore, ART CONTACT bears no form of

responsibility for this service. ART CONTACT will, therefore, not be re-

sponsible for any Bids inadvertently mislaid or for mistakes in relation

to the latter. New Purchasers will have to provide sufficient bank refe-

rences by means of a Presentation Letter supplied by the Purchaser’s

bank to ART CONTACT, 6 avenue Saint Michel, 98000 Monaco.

BIDDING IN PERSON

In order to bid in person, potential Purchasers have to register and col-

lect a bidding number by filling out the Bidding Form and providing a

valid document of identification and tax code number. All Lots sold will

be invoiced to the name and address supplied when collecting the

Bidding Number and they will not be able to be transferred to other na-

mes and/or addresses. Should a potential Purchaser wish to bid on be-

half of a third party, s/he should inform ART CONTACT before the

beginning of the Auction.

ABSENTEE AND TELEPHONE BIDS

In order to bid by means of written or telephone Bids potential pur-

chasers have to fill out the Bidding Form in this Catalogue and send it

by fax to the number +39 010 2517767 or email to info@artcontact-

monaco.com at least SEVEN hours before the beginning of the Auc-

tion. Bids must be in euro and do not include Auction commissions

and charges and taxation as laid down by the Law. Written Bids are car-

ried out on behalf of the Bidder at the lowest price possible in consi-

deration of the reserve price and the other Bids offered. In the absence

of a higher Bid, written Bids undertaken on Lots without a reserve (in-

dicated by the Estimate in RED) will be sold at approximately 50% of the

lowest estimate or at the figure corresponding to the Bid, even though

lower than 50% of the lowest Estimate. Telephone Bids are organised

by ART CONTACT according to the availability of the telephone lines

being used and exclusively for Lots that have a maximum Estimate of

at least 500 euro. Telephone calls during the Auction may be recorded.

Potential purchasers who bid by telephone consent to the recording of

their conversations.

LIVE BIDDING

You can bid online going on the website https://wannenesgroup.com

on the on-air sale section and following the instructions

HAMMER PRICE

The Hammer Price indicates that a Sale of a Lot has been made and at

that moment the Purchaser assumes full responsibility for the Lot. As

well as the hammer price the Purchaser has to recognise the commis-

sions (buyer’s premium) to be paid to ART CONTACT and the taxes to

be paid as laid down by the Law.

PAYMENT

Purchasers have to carry out payment for the Lot/s by 10 working days

from the date of the Auction by means of:

A) Cash payments are accepted, according to the law of Principality of Mo-

naco.

B) Bank transfer payable to ART CONTACT SARL

Bank: Société Générale

IBAN: MC58 3000 3023 0800 0200 0551 238

SWIFT BIC: SOGEMCM1

C) Certain credit/debit cards are accepted with a surcharge on the to-

tal invoice value for foreign cards. Please contact ART CONTACT for fur-

ther information.

If paying by bank transfer, the amount received after the deduction of any

bank fee and/or conversion of the currency of payment to euro must not

be less than the euro amount payable, as set out on the invoice

ART CONTACT may, upon agreement with the Seller, offer those Pur-

chasers it deems reliable the possibility to pay for Lots in instalments.

Potential purchasers who wish to undertake payment by instalments

should contact the Management of ART CONTACT before the Sale.

COLLECTION OF LOTS

Purchasers must collect the Lot/s by 15 working days from the date of

the Auction. At the end of this span of time, ART CONTACT will not be

responsible either for the custody of the Lot/s or for any damage that

may occur to the Lot/s upon their removal to an appropriate ware-

house. ART CONTACT will charge the Purchaser with the costs of insu-

rance and storage as laid down in the Chart available to Customers in

the headquarters of the Company. When collecting the Lot/s, the Pur-

chaser must provide ART CONTACT with a valid document of identity.

Should the Purchaser request a Third Party to collect the Lot/s already

paid for, the latter should possess a piece of written permission signed

by the Purchaser and a photocopy of the Purchaser’s document of

identity. The Lot/s are given to the Purchaser or the Third Party only

upon payment having taken place. If purchased Lot/s are collected af-

ter the above mentioned time limit the Auction House may debit the

costs of storage (by month or part of a month) as follows:

100 euro + VAT for Furniture

50 euro + VAT for Paintings

25 euro + VAT for Objects of art

SHIPPING OF LOTS

ART CONTACT staff will be glad to ship Lots purchased according to writ-

ten instructions given by the Purchaser, following payment of the Lot/s con-

cerned. Shipping will be at the risk and expense of the Purchaser who, by

means of a written communication, will have to sub-tract ART CONTACT

from any responsibility concerning such an operation. Furthermore, our

Staff is available for evaluations and advice in relation to the shipping me-

thods employed and insurance of the Lot/s.

EXPORT OF THE LOTS PURCHASED

Certificates of exportation may be required for a cater of lots and a cu-

stom authorization may be requested. The French State has the option

of giving or not the export license in the case the lot is regarded as na-

tional treasure. ART CONTACT has no responsibility in case the export

license is denied.

NOTICE

Every lot with any electric equipment is sold as "not working" and it

should be totally re-conditioned. ART CONTACT is not responsible for

any incorrect, wrong use of sold lots or for any non-compliance with in-

structions.

The words “....year.....” or the date cited in the lots description indica-

tes the period from when the said lot was first produced, unless other-

wise specified.

The descriptive image in the catalogue and website might not faithfully

represent the lots at auction. The Auction House always recommends

directly viewing the lots before making any bids. In case it is not pos-

sible to directly view the lots in person, a bidder may request a condi-

tion report in order to receive additional and detailed images of the

lot/s. The Purchaser explicitly authorises ART CONTACT. to use freely

and at no cost the photographs depicting the auction lots for any pur-

pose whatsoever for exemplary - but not necessarily exhaustive pur-

poses - in terms of publicity, internet usage or usage by any other

means, as well as publication in the Magazine and/or magazines pu-

blished by third parties.

TERMINOLOGY AND DEFINITIONS

Affirmations concerning the Author, attribution, origin, period, prove-

nance and conditions of the Lot/s in the Catalogue are to be conside-

red as the personal opinion of the Experts and Scholars who may have

been consulted and do not necessarily represent fact.

TITIAN: in our opinion, the work is the work of the artist.

ATTRIBUTED TO TITIAN: in our opinion, the work is probably by the artist,

but there is no absolute certainty.

TITIAN’S WORKSHOP/STUDIO: in our opinion, the work is by an unknown

painter working in the artist’s workshop/studio who may or may not have

undertaken the painting under the artist’s supervision.

TITIAN’S CIRCLE: in our opinion, the work is by an unknown painter who is

in some way connected or associated to the artist, although not necessari-

ly a pupil of the artist.

STYLE OF/FOLLOWER OF TITIAN: in our opinion, the work is by a painter

who was contemporary or almost contemporary to the artist, working in

the same style as the artist, without being necessarily connected to him by

an artist-pupil relationship.

MANNER OF TITIAN: in our opinion, the work has been carried out in the

style of the artist but subsequent to the period of the artist.

FROM TITIAN: in our opinion, the work is a copy of a painting by the artist.

IN THE STYLE OF...: in our opinion, the work is in the style mentioned but

from a later period.

SIGNED – DATED – INSCRIBED: in our opinion, the signature and/or da-

te and/or inscription are by the artist.

BEARING SIGNATURE – DATE – INSCRIPTION: in our opinion, the signa-

ture and/or date and/or inscription have been added.

The dimensions supplied are HEIGHT first, followed by WIDTH.

GENERAL CONDITIONS OF SALE

Art. 1

The objects may be sold in Lots or individually according to the final opinion of ART CONTACT SARL (hereafter referred to as ART

CONTACT or AUCTION HOUSE). The Auctions will be held in premises that are open to the public by ART CONTACT which acts

simply as AGENT in the name and interests of each Seller (the name of the said Seller is written in all the Registers required by

Law). The Sale directly concerns the Purchaser and the Seller. ART CONTACT does not assume any responsibility in relation to

the Purchaser, the Seller or any Third Party concerned.

Art. 2

The objects are sold to the highest Bidder for cash. Should any disputes arise among more than one Purchaser, the Auctioneer

(his/her decision is final) will put the object up for sale once more so it can be purchased again in the same Sale. In each case,

the Purchasers who disputed the former Sale of the object in question are still bound by the initial Bid (which gave rise to the

subsequent Sale of the object). Should the subsequent purchase fall through once again the Auctioneer (his/her decision is fi-

nal) will decide which person may successfully purchase the Lot/s. Each transfer to Third Parties of the Lot/s purchased does not

become the responsibility of ART CONTACT which considers the Purchaser as the sole person/s responsible for payment. Bid-

ding at an Auction in the name of and for Third Parties may be accepted by ART CONTACT only after sufficient bank references

as well as a power of attorney have been received by the AUCTION HOUSE at least three days before the Auction.

Art. 3

ART CONTACT reserves the right to withdraw any Lot/s from the Auction. The Auctioneer starts the Auction beginning with the

Bid that s/he believes to be the most opportune, based upon both the value of the Lot/s as well as the competing Bids. The Auc-

tioneer may make further Bids or in response to other Bids, until the reserve price is reached. The Auctioneer, during the Auc-

tion, may group together or separate Lot/s and vary the order of the Sale. The Auctioneer may (and his/her decision is final)

withdraw Lot/s that do not reach the reserve price agreed upon between ART CONTACT and the Seller.

Art. 4

In addition of the lot’s hammer price, the Purchaser will pay ART CONTACT a Buyer’s Premium as follows: 22,5% + VAT (27% VAT

included)

For cars:

14% + VAT (16,80% VAT included) up to 900.000 €

11% + VAT (13,20% VAT included) over 900.001 €

Lots from outside EU, marked with the symbol **, are subject to import taxes.

ART CONTACT being subject to VAT on the Margin Scheme, no document mentions VAT.

The VAT on Buyer’s Premium and importation expenses may be refund to the purchaser on presentation of a written proof of

exportation outside the EU.

Art. 5

In order to guarantee the highest levels of transparency during the Auction for all those who intend to make Bids, prospective Bidders

are required to fill out a participation form with personal information and bank details. ART CONTACT reserves the right to make checks

on the details/references provided and to refuse those who might not be welcome. Upon completion of the form ART CONTACT will

supply a numbered identification paddle which will have to be shown to the Auctioneer in order to proceed with Bidding.

Art. 6

ART CONTACT may accept absentee Bids (by means both of written as well as telephone Bids) that will be undertaken by the

Auctioneer, in direct competition with those present in the Auction Room. Should there be a case of identical Bids, the written

Bid will prevail upon the oral Bid.

Art. 7

Should there be two written Bids that are not beaten by Bids made in the Auction Room or telephone Bids, ART CONTACT will

consider the Purchaser to be the one who made the Bid first. ART CONTACT reserves the right to refuse – its decision is final –

Bids made by Purchasers who are not known or welcome. ART CONTACT may, however, partially in reference to the above-

mentioned, accept Bids if there is a guaranteed sum deposited equal to the value of the Lot that is requested, apart from com-

missions (buyer’s premium), taxes and expenses. In each case, at the moment of Purchase, the Purchaser will immediately inform

the AUCTION HOUSE of his/her personal information and taxation details.

Art. 8

ART CONTACT acts exclusively as the agent for the Sellers and bears no responsibility in terms of descriptions of the objects in

the Catalogues or in any other illustrated publication. All the descriptions of objects are intended purely as illustrative and in-

dicative. They may not generate any form of reliance as far as the Purchaser is concerned. The Auction will be preceded by a pu-

blic viewing of the objects in order to allow for a careful examination of the objects on behalf of aspiring Bidders. In this way,

potential Purchasers will have the opportunity to and be responsible for a complete examination of all the qualities of the ob-

ject/s in question: for example, the authenticity, the state of preservation, the type, the material and the provenance of the ob-

jects being auctioned. Following the Purchase, no one will be able to dispute or criticise ART CONTACT or the Sellers for the lack

of any form of quality in reference to the object being auctioned. ART CONTACT and its employees/consultants will issue no gua-

rantee of authenticity. All those indications relative to the carats and the weight of metals or precious stones, as well as their re-

lative marks, are merely indicative. ART CONTACT is not responsible for any potential errors or falsifications. Notwithstanding any

potential reference to descriptions by experts external to the AUCTION HOUSE, ART CONTACT does not either guarantee the

accuracy or the authenticity of such comments.

The buyer exonerates the auction house from any responsibility for the color reproduction of the objects in the catalo-

gue, which may differ from what perceived by direct sight. Buyers are invited to examine the objects before the auction

during the exhibition, in particular it is advisable to ask for photos and conditions reports of the lots in addition to those

already illustrated on the website and in the catalogue

Art. 9

The Estimates relative to the initial sale price, indicated beneath the description of each object in the Catalogue, are intended

as NET and do not include, for example, the commissions (buyer’s premium), taxes etc. Since the printing time employed for the

making of the Catalogue requires price Estimates in advance, these latter may be subject to change, as may also the descrip-

tion of the object. Each and every change will be communicated to the Auctioneer before the beginning of the Auction in re-

lation to each object concerned. The Lot/s will, however, only be sold upon reaching the reserve price.

Art. 10

The entire payment of the hammer price, the commissions applied (buyer’s premium) as well as all other expenses must be paid

for within ten working days of the Auction date, in the legal currency of the State in which the Auction has taken place. In the

case of lack of due payment, after full compensation of damages made to ART CONTACT, the AUCTION HOUSE may:

return the object to the Seller and demand full payment from the Purchaser of the due commissions/premium;

undertake action in order to forcefully obtain the obligations of purchase;

sell the Lot/s privately or in subsequent Auctions, to the disadvantage of the original Purchaser, treating any sums paid by the

latter as a form of sanction. If the Lot/s is kept by ART CONTACT this will be at the risk and expense of the Purchaser and the ori-

ginal Seller. In each case, until the collection or return dates the Purchaser will pay ART CONTACT the costs of storage (by month

or parts of month) as follows: 100 euro + vat for furniture, 50 euro + vat for paintings, 20 euro + vat for objects. This sum must

be paid from the sixteenth day following the Auction.

Art. 11

The Purchaser, after having paid all the sums due, must collect the Lot/s acquired within fifteen working days of the Auction da-

te, at his/her own risk and expense, in full consideration of the opening hours of ART CONTACT. Should the Purchaser not col-

lect the Lot/s during the above-mentioned times ART CONTACT will keep them at the risk and expense of the Purchaser in the

AUCTION HOUSE for a further five working days. Once this period has passed, ART CONTACT will remove the object/s (at the

Purchaser’s own risk and expense) to the storage space deemed most appropriate by the AUCTION HOUSE. The AUCTION HOU-

SE will inform the Purchaser of the place where the object/s are kept. Let it be clearly understood that in order to collect the ob-

ject/s the Purchaser will have to pay, apart from the price plus commissions (buyer’s premium) etc, any refund due to subsequent

expenses incurred by the AUCTION HOUSE.

Art. 12

In each case, ART CONTACT may agree with the Purchaser/s upon different forms of payment, storage, private sale, insurance

of the object/s and/or granting of any other service requested in order to achieve the most successful results possible.

Art. 13

Everybody has, obviously, to respect the current Laws within the State where the Auction is held. In particular, ART CONTACT

assumes no responsibility in relation to potential restrictions concerning the export of purchased objects and/or in relation to

licenses or permits that the Purchaser might have to request on the basis of current Laws. The Purchaser will not be able to re-

quest any refund either from the Seller or from ART CONTACT should the State exercise its right to pre-emption or any other

right it may possess. The rights that have matured in relation to the hammer price of a sale that has been annulled on account

of it not receiving authorization for export due to the lack of agreement of the cultural authorities concerned are, nevertheless,

to be paid by the vendor to ART CONTACT if permission was not given because the vendor did not previously inform ART CON-

TACT of the existence of authorization (for export) given by the relevant authority upon the request of the vendor him/herself.

Art. 14

In the case of disputes that are revealed to be well-founded and accepted by ART CONTACT subsequent to the sale of false ob-

jects, the AUCTION HOUSE may, at its own discretion, declare the sale null and void and, if requested, reveal the name of the

Seller to the Purchaser. The Purchaser may make use of this Article (Article 14) only and exclusively in the case that s/he has no-

tified ART CONTACT – according to Articles 137 and following in the Code of Civil Procedure – of the dispute in question with

the relative proof within fifteen days of the Auction date. In each case, subsequent to an accepted claim the Purchaser has the

right to receive exclusively what was paid as the disputed hammer price without the addition of interests or other sums for any

other reason.

Art. 15

The current Sale Conditions are accepted automatically upon signing the form (see Article 5) and by all those individuals who

take part in the Sale. The above-mentioned Conditions are at the disposal of any individual who requests to see them. Any ca-

se of controversy is within the jurisdiction of the Principality of Monaco.

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