CONTEMPORARY AFRICAN ART FROM CONGO - Dispersal of the Lumumba Library Collection

CONTEMPORARY AND MODERN AFRICAN ART FROM CONGO

Sale to benefit the relocation of the Lumumba Library in Congo

Online sale ending: May 15 from 4 pm

Exhibition: by appointment only.

Address :

Stanley's auction

Kouterveldstraat 2

1831 Diegem

(between the 4 arms of Tervuren and the airport of Zaventem)

www.stanleysauction.com

info@stanleysauction.com

+32477621274

+32478386696

TERMS AND CONDITIONS OF SALE

Premium ONLINE : 25% + 3% DROUOT

Frais d'achat ONLINE : 25% + 3% DROUOT

1-Nature of the prestation/ Stanley's auction sprl is mandated by the depositor to put an object up for sale in a condition that will have been checked by the buyer during the exhibition. Stanley's auction sprl does not sell but puts the seller and the buyer in contact without any responsibility for the nature, the origin or the condition of the object. 2-Capacity/ The depositor assures to be the capable and legal owner of the object or the fully authorized agent for its sale.

In case of withdrawal before the sale and whatever the reason, the depositor is obliged to reimburse Stanley's auction sprl for the seller's commission applied to the high estimate. No withdrawal will be accepted from the first day of exhibition preceding the sale.

Any withdrawal forced by the public authority would lead to legal proceedings and damages against the defaulting depositor in addition to the selling commission on the high estimate before the sale and on the auction price after the sale.

3-The Object / The depositor declares that the deposited object is available, lawful, lawfully owned and in the case of an extra-European object that it was acquired in its country of origin before 1970 and/or according to all applicable regulations and rules. Any failure to do so or any erroneous information on the latter points would engage the exclusive responsibility of the depositor who asserts by signing this contract that Stanley's Auction SPRL has indeed requested the provenance and origin of the object and has obtained answers confirming the availability and legality of the deposited object. Stanley's is authorised to communicate these data to the authorities and to the future purchaser. In the event of a lie, Stanley's auction sprl would be released from all responsibility, reserving the right to inform the authorities in order to prevent any detected fraud. Furthermore, Stanley's auction sprl reserves the right to take legal action against the false bidder.

4-Intellectual property/ The depositor renounces all intellectual property restrictions on the object and authorises any exploitation of the illustrations or photographs of the object before, during and after the sale.

5-Reserve value/ The depositor has the possibility, when depositing a lot, to indicate a reserve value, i.e. a minimum auction price below which the lot cannot be sold. This reserve value will be indicated next to the estimates on the deposit slip. However, Stanley's has the right to sell the goods, at its own discretion, for an amount less than the reserve value but equal to or greater than the net amount payable. In such a case the amount payable to the seller will be calculated on the basis of the proceeds of sale that would have been obtained if the goods had been sold at the reserve value. No reserve for items estimated below 500€.

If the reserve value has not been reached during the auction Stanley's auction sprl then has the authorisation to negotiate for private sale at the limit and to include this lot, as long as it remains in stock, again in a later sale but without reserve unless the owner takes back the unsold lot within one month after the sale and by paying 10 eur of insurance and administration costs.

6-Payment, commission and made-up bid/ In case of sale, the amount of the auction minus the commission of 15% or _% (expert's initials) and 10 eur of costs will be paid to the depositor as soon as the payment is received by the buyer. The amount can be paid in cash below 3000 euro or by transfer to the following bank account

Stanley's is not required to pay for a lot not paid for by the buyer, who is then declared to be an insane bidder. In the latter case: - either the depositor decides to attack the mad bidder by his own means to force him to finalize the purchase.

-or the depositor asks Stanley's auction to put the property back on sale by mutual agreement or at the next auction. These instructions should be confirmed by e-mail or post.

-either the sale is cancelled and the item is returned to the depositor free of charge.

Stanley's auction only acts as an intermediary for the seller and the buyer and is therefore not responsible in case of any renunciation of these two parties.

7-Description and estimation / The description of the object is only an opinion given as an indication and cannot engage the responsibility of Stanley's auction sprl. Any error or omission revealed before, during or after the sale could not be blamed on Stanley's auction sprl whose only mission is to try to put a seller and buyer in contact and not to certainly appraise the item. The depositor declares to leave all freedom to Stanley's auction sprl in the description of the object.

The valuation of the item is only an opinion and Stanley's auction sprl could not be held to achieve this result or any damage whatsoever following the sale. The depositor declares that he wants to offer his object for sale according to these estimates which he approves, thinking that they are the most relevant to lead to the actual sale of the object. Any subsequent sale of the same object in any auction house, salon or gallery will not lead to any claims against Stanley's auction sprl.

8- Freedom of sale / Stanley's auction sprl has the right not to auction one or more lots, to postpone the lots to later auctions, to split or combine the lots.

9- Auctioning / The auctioneer can open the bidding on each lot by making a bid on behalf of the seller. In addition, the auctioneer has the right to make successive bids on behalf of the seller, or bids in reaction to other bids on behalf of the seller, until the amount of the reserve value is reached.

10- The bidder bids for an amount of which he is solvent, including costs, and does so with full knowledge of the matter, and that he is present at the sale, whether he bids by written order in commission or by telephone or any other means of communication.

11- In the event of a dispute in the moment following the auction and this because of a bid from a third party that has not been observed, Stanley's auction sprl has the right to shout the object again. For this purpose, only the hammer blow confirmed by "Adjudicated" will mark the auction.

12- Once the lot has been awarded, the winner of the auction assumes the risks on the item. However, the complete transfer of ownership will take place upon receipt of the payment of the awarded item.

13- The amount to be paid by the buyer will be the amount of the adjudication increased by 24% and if the adjudication is by Drouot the fee is majoreted of 3%. If the item is subject to resale rights, an additional 4% of the auctioned amount will be charged.

14-The object is to be paid and withdrawn during the week following the sale. Thereafter, a storage fee of 10 eur per day of custody will be charged, unless Stanley auction bvba grants a delay. The risks pass to the buyer at the time of the auction.

15-Stanleys auction sprl being subject to the special margin regime, there is no VAT. 16-Any dispute shall be settled before the court of Brussels.

STANLEY'S AUCTION SPRL/BVBA BE 0684.507.323