Lot 37: LE CYKLOP CyKlop en flammes, 2011 Pochoir à la bombe de peinture sur potelet métallique H_80 cm D_24 cm, poids : 15 kg

Live bidding may start higher or lower

€0 - 500,000:3.0%

€500,001+:3.0%

CONDITIONS OF SALE

The auction will be conducted in euros (e) and lots will be paid full in cash. As well as the hammer price, buyers will pay the followin g
premium : up to 500 000 e, 24% inclusive of tax (either 20, 07 + 19. 6% VAT), above 500 000 e, 17, 94% inclusive of tax (either 15 + 19.
6% VAT). For lots sold by a non - resident the buyer will pay a 5, 5 % V. A. T. (lots marked by a ) or 19, 6% VAT (lots marked by a ) on
the hammer price plus the premium (the buyer will be refunded of this V. A. T.. when he will be presenting to our cashier the proof of export
out of EEC). This calculation applies to each lot individually.

GARANTEES

The auctioneer is bound by the indications in the catalogue, modified only by eventual annoucements made at the time of the sale noted into
the legal records there of. An exhibition prior to the sale permits buyers to establish the condition of the works offered for sale and therefore
no claims will be accepted after the hammer has fallen. Catalogue photographs are not contractually binding.

BIDS

Biddin g will be in accordance with the lot numbers listed in the catalogue or as announced by Pierre Bergé & associés, and will be in increments
determinated by the auctioneer. The highest and last bidder will be the purchaser. Should Pierre Bergé & associés recognise two simultaneous
bids on an object, the lot will be put up for sale again and all those present in the saleroom may participate in this second opportunity
to bid.

ABSENTEE BIDS AND TELEPHONE BIDS

Those wishin g to make a bid in writin g or by telephone should use the form provided with the auction catalogue. This form, accompanied
by the bidder's bank details, must be received by PBA no later than two days before the sale. Telephone bids are a free service designed for
clients who are unable to be present at auction. Pierre Bergé & associés cannot be held responsible for any problems due to technical difficulties.

REMOVAL OF PURCHASES

From the moment the hammer falls, sold items will be in the exclusive responsibility of the buyer. If payment is made by cheque or by wire transfer,
the objects can only be delivered once the full amount has been received in our account, the buyer becoming the owner only at this moment.
From the moment the hammer falls, sold items will be in the exclusive responsability of the buyer. Transportation and storage will be invalided to
the buyer. The buyer will be solely responsible for insurance, and Pierre Bergé & associés assume no fiability for any damage items may incur from
the time the hammer falls. All transportation arrangements are the sole responsability of the buyer.

PRE - EMPTION

In certain cases, the French State is entitled to use its right of pre - emption on works of art or private documents. This means that the state
substitutes itself for the last bidder and becomes the buyer. In such a case, a representative of the French State announces the exercise of the
pre - emption right durin g the auction and immediately after the lot has been sold, and this declaration will be recorded in the official sale
record. The French State will have then fifteen (15) days to confirm the pre - emption decision. Pierre Bergé & associés will not be held
responsible for any administrative decisions of the French State regardin g the use of its right of pre - emption.

DEFAULT OF THE BUYER

Any lot unpaid by the buyer within 3 months since the day of the auction will be re-ordered for sale by Pierre Bergé & associés, after the legal
former notice, the possible difference of price remaining to the buyer in default. As a result, the owner mandates PBA to decide and carry out
the procedure legally applied in the case of default of the buyer.

Any lot unpaid by the buyer within 3 months since the day of the auction will be re-ordered for sale by Pierre Bergé & associés, after the legal
former notice, the possible difference of price remaining to the buyer in default. As a result, the owner mandates PBA to decide and carry out
the procedure legally applied in the case of default of the buyer.

Les oeuvres seront à retirer sur place ou avant le vendredi 10 juin 2011 contre preuve d'achat à la société Catherine Delannoy et Associés : Catherine Delannoy ou Christine Breugnon, 12 rue de Chatillon, 75014 Paris. Tel : 01 42 65 20 95. De 10 heures à 17 heures.

PERRE BERGÉ & ASSOCIÉS PRÉCISE QU'IL N'Y A AUCUN FRAIS ACHETEUR SUR LE MONTANT ADJUGÉ
Les trois quarts de la vente seront reversés au profit de SOS Racisme et un quart aux artistes

The auction will be conducted in euros (e) and lots will be paid full in cash. As well as the hammer price, buyers will pay the followin g
premium : up to 500 000 e, 24% inclusive of tax (either 20, 07 + 19. 6% VAT), above 500 000 e, 17, 94% inclusive of tax (either 15 + 19.
6% VAT). For lots sold by a non - resident the buyer will pay a 5, 5 % V. A. T. (lots marked by a ) or 19, 6% VAT (lots marked by a ) on
the hammer price plus the premium (the buyer will be refunded of this V. A. T.. when he will be presenting to our cashier the proof of export
out of EEC). This calculation applies to each lot individually.

The auctioneer is bound by the indications in the catalogue, modified only by eventual annoucements made at the time of the sale noted into
the legal records there of. An exhibition prior to the sale permits buyers to establish the condition of the works offered for sale and therefore
no claims will be accepted after the hammer has fallen. Catalogue photographs are not contractually binding.