25 Blythe Road Wednesday 28th March 2018

Important Information for Buyers All lots are offered subject to 25 Blythe Road Ltd.’s Conditions of Business and to reserves. The Conditions of Business for Buyers are also published in this catalogue. Estimates are published as a guide only and are subject to review. The actual hammer price of a lot may well be higher or lower than the range of figures given and there are no fixed “starting prices”. A Buyer’s Premium of 24% is applicable to all lots in this sale. The Buyer’s Premium is subject to VAT at the standard rate (currently 20%). Unless otherwise indicated, lots are offered for sale under the auctioneer's margin scheme and VAT on the Buyer’s Premium is payable by all buyers. A webcast fee of 3% + plus VAT is payable on the hammer price for items bought online. Cataloguing Practice A work catalogued with the name(s) or recognised designation of an artist, without any qualification, is, in our opinion, a work by the artist. In other cases, the following expressions with the following meanings are used: “Attributed to……” In our opinion probably a work by the artist in whole or in part. “Studio of….” “Workshop of….” In our opinion a work executed in the studio or workshop of the artist, possibly under his supervision. “Circle of….” In our opinion a work of the period of the artist and showing his influence. “Follower of…” In our opinion a work executed in the artist’s style but not necessarily by a pupil. “ Manner of….” In our opinion a work executed in the artist’s style but of a later date. “ After….” In our opinion a copy (of any date) of a work of the artist. “Signed….”, “Dated….”, “Inscribed….” In our opinion the work has been signed/dated/inscribed by the artist. The addition of a question mark (?) adds an element of doubt. “Bears signature…”, “Bears date….”, “Bears inscription….” In our opinion the signature/date/inscription/stamp is by a hand other than that of the artist. Symbols VAT Lots marked with the symbol ‘*’ mean normal VAT rules apply and the standard VAT will be charged on both hammer price and premium. Premium Lots Lots marked with the symbol ‘ø’ are “Premium Lots” you must complete the required Premium Lot preregistration application and deliver to BR such necessary financial references, guarantees, deposits and/or such other security as BR may in its absolute discretion require, as security for your bid. BR’s decision whether to accept any pre-registration application shall be final. We recommend you contact BR at least 3 working days prior to the relevant sale in order to process the pre-registration, and please bear in mind that we are unable to obtain financial references over weekends or public holidays. Online bidding services are not available for premium lots. Artist Resale Right On certain Lots marked '•' in the catalogue that are sold for a Hammer Price of €1,000 or greater (converted into GBP using the European Central Bank Reference rate prevailing on the Auction End date) an additional premium will be payable by the Buyer to cover the payment of royalties under the Artist Resale Right Regulations 2006. The additional premium will be a percentage of the amount of the hammer price calculated in accordance with the table below, and shall not exceed the equivalent of €12,500. Hammer Price Percentage Amount From €0 to €50,000 4% From €50,000.01 to €200,000 3% From €200,000.01 to €350,000 1% From €350,000.01 to €500,000 0.5% Exceeding €500,000 0.25% 25 Blythe Road Ltd will be pleased to execute bids on behalf of those clients unable to attend the sale in person, subject to our Conditions of Business. All bids must be submitted in writing in good time and lots will always be purchased as cheaply as possible (depending on any other bids received, reserves and competition). This service is offered free of charge.

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