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Absentee Bids

A friend or agent may place bids on your behalf , provided that we have been received your writtenauthorization prior to the sale. The same service may be provided by our auction house, provided we havebeen received your written bid price you are willing to pay. Our auction staff will try to bid just as you would,with the goal of obtaining the item at the lowest bid price possible. Absentee bids from are available at ourwebsite.

BID INCREMENTS

Calusari generally uses the following increment multiples as bidding progresses:

EUR 50-500 EUR 25 incrementsEUR 500-1000 EUR 50 increments

EUR 1.000-2.000 EUR 100 increments



EUR 10.000-20.000 EUR 1.000 increments






The auctioneer may split or reject any bid at any time at his or her discretion as outlined in the

CONDITIONS OF SALE.BUYER'S PREMIUM

A buyer's premium is added to the winning price of each individual lot purchased. In addition to the hammer

price, the buyer agrees to pay to us the buyers premium together with any applicable value added tax. Thebuyers premium is 10% of the final bid price of each lot up to and including EUR 10.000, 7.5% of the excessof the hammer price above EUR 10.000 and up to and including EUR 100.000 and 5% of the excess of thehammer price above EUR 100.000.PAYMENT

All buyers are asked to pay the full amount due (comprising the hammer price, buyers premium and anyapplicable taxes) not later than the seventh (7) calendar day following the sale. Payment may be made toCalusari by cash and wire transfer. Please note that payments by wire transfer may result in property notbeing released until purchase funds clear our bank.AUCTION RESULTS

Auctions results are published on our website immediately after the sale.

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LOT 1

Lot Description

SAM FRANCIS(1923-1994)UNTITLED1991.Color lithograph, edition of 50. Signed lower right by the artist in pencil. 118 x 75 cm.

Estimate

EUR 3.000-5.000Provenance

Private collection, Budapest

Literature and Illustration

Connie W. Lembark, The Prints of Sam Francis: A Catalogue Raisonne 1960-1991, Hudson Hill Press, 1992

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LOT 2

Lot Description

PETER CROY (1937-)PER ASPERA AD ASTRA

1978. Color etching, edition of 60, signed and dated by artist. Plate size 28.3 x 32.7 cm, sheet size 50 x 65cm

Estimate

EUR 500-1.000Provenance

Private collection, Bruxelles


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LOT 3

Lot Description

GIUSEPPE CAPOGROSSI (1900-1972)IN HOC SIGNO NO.5

1970. Color lithograph, edition of 75, signed by the artist. 30.7 x 20 cm.

Estimate


Private collection, Budapest.Literature and Illustration

Ulrike von Hase-Schmundt, Das graphische Werk, Erker Verlag, St Gallen, 1982

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LOT 4

Lot Description

SONIA DELAUNAY (1885-1979)UNTITLED

Color etching, edition of 100, signed in plate, 40.7 x 36.6cm.Estimate


Private collection, BruxellesLiterature and Illustration

Jacques Damase, Sonia Delaunay peintures, gouaches, lithographies, tapisseries,Espace 2000, Bruxelles, 1973

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LOT 5

Lot Description

FRANCIS BACON (1925-2000)LYING FIGURE

1966.Lithograph in colors on wove paper, edition of 200, signed by the artist. 50.0 x 37.0 cm.

Estimate

EUR 7.000-8.000Provenance

Private collection, Bruxelles


The lithograph was published by Maeght, Paris.

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LOT 7

Lot Description

SANDRO CHIA (1946-)UBU ROI

1988.Color lithograph, edition of 300.Signed and numbered by the artist, image size 75 x 56 cm, sheet size 86 x 66 cm.Estimate

EUR 500-1.000

Provenance

Private collection, Budapest


Dieter Honisch, Achille Bonito Oliva, Wulf Herzogenrath, Sandro Chia, Nationalgalerie Berlin, 1992

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LOT 8

Lot Description

TOMYS ORTIZ SANCHEZ (1983-)LA ANUNCIACION

2004. Color lithograph.

Signed, dated, stamped and titled by the artist, 71 x 49 cm. Unique, artist proof.Estimate

EUR 1.000-1.500

Provenance

Private collection, Oradea


VI Ecuentro Nacional de Grabado, Consejo Nacional de las Artes Plasticas, Ciudad de la Habana, Cuba,2004

Lot Notes

Tomys Ortiz Sanches lives and works in Ciudad de la Habana, Cuba.

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LOT 10

Lot Description

TOMYS ORTIZ SANCHEZ (1983-)DE LA FRESA Y EL FRESADO

2004. Color lithograph.Signed, dated, stamped and titled by the artist, 71.5 x 50 cm. Unique, artist proof.Estimate

EUR 1.000-1.500

Provenance

Private collection, Oradea


VI Ecuentro Nacional de Grabado, Consejo Nacional de las Artes Plasticas, Ciudad de la Habana, Cuba,

2004Lot Notes

Tomys Ortiz Sanches lives and works in Ciudad de la Habana, Cuba.

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CONDITIONS OF SALE

These CONDITIONS OF SALE contain all the terms on which Calusari and the Seller contract with the Buyer. Byparticipating in any sale, you are acknowledge that you are bound by these terms and conditions.

1. CALUSARI AS AGENTExcept as otherwise stated, Calusari acts as agent for the Seller. The property will be offered by us as agent for theSeller, unless the catalogue indicates otherwise. Therefore, the contract for the sale of the property is therefore madebetween the Seller and the Buyer.2. AS ISGoods auctioned are often of some age. The authenticity of property listed in the catalogue is guaranteed as statedin the LIMITED WARRANTY, in paragraph 6. We and the Seller are no responsible for errors and omissions inthe printed catalogue, online catalogue, or in any supplemental material. All property is sold "AS IS" without anyrepresentations and warranties by Calusari or the Seller as to:(a) merchantability, (b) fitness for a particular purpose,(c) quality, (d) rarity, (e) importance, (f) size, (g) medium, (h) provenance, (i) exhibitions, (j) literature, (k) historicalrelevance, and (l) the correctness of the catalogue or other descriptions of the physical conditions of any property andno statement anywhere whether oral or written, whether made in the catalogue, an advertisement, a bill of sale, a

saleroom posting or announcement, or elsewhere shall be deemed such a warranty, representations or assumptionsof liability.3. BEFORE THE SALE(a) Examination of propertyProspective buyers are strongly advised to examine personally any property in which they are interested, before theauction takes place, in order to determine its condition, size and whether or not it has been repaired or restored .CONDITIONS REPORTS are usually available on request. Neither Calusari nor the Seller provides any guaranteein relation to the nature of the property apart from the LIMITED WARRANTY in paragraph 7 below. The property isotherwise sold "AS IS".(b) All statements made by us in the catalogue entry for the property or in the condition report, or made orally or in

writing elsewhere, are statements of opinion and are not to be relied on as statements of fact. Such statements donot constitute a representation, warranty or assumption of liability by us of any kind. References in the catalogueentry or the condition report to damage or restoration are for guidance only and should be evaluated by personalinspection by the bidder or a knowledgeable representative. The absence of such a reference does not imply thatan item is free from defects or restoration, nor does a reference to particular defects imply the absence of anyothers. Estimates of the selling price should not be relied on as a statement that this is the price at which the itemwill sell or its value for any other purpose. Except as set forth in paragraph 6 below, neither Calusari nor the Seller isresponsible in any way for errors and omissions in the catalogue or any supplemental material.(c) Buyers responsibilityExcept as stated in the LIMITED WARRANTY in paragraph 6 below, all property is sold "AS IS" without anyrepresentation or warranty of any kind by Calusari or the Seller. Buyers are responsible for satisfying themselvesconcerning the condition of the property and the matters referred to in the catalogue entry.

(d) WithdrawalWe reserve the right to withdraw any property before the sale and have no liability whatsoever for such withdrawal.

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4. AT THE SALE(a) Refusal of admission.Calusari has the right, at our complete discretion, to refuse admission to the premises or participation in any auctionand to reject any bid.(b) Registration before bidding

A prospective buyer must complete and sign a registration form and provide identification before bidding. We mayrequire the bank financial references and in some cases a warranty deposit.(c) Bidding as principalWhen making a bid, a bidder is accepting personal liability to pay the purchase price, including the buyers premiumand all applicable taxes, plus all other applicable charges, unless it has been explicitly agreed in writing with beforethe commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable toCalusari, and that Calusari will only look to the principal for payment.(d) Absentee bidsWe will use reasonable efforts to carry out written bids delivered to us prior to the sale for the convenience of clientswho are not present at the auction in person, or by an agent or by telephone. Please refer to the catalogue for theABSENTEE BIDS FORM. If we receive written bids on a particular lot for identical amounts, and at the auction

these are the highest bids on the lot, it will be sold to the person whose written bid was received and accepted first.Execution of written bids is a free service undertaken subject to other commitments at the time of the sale and we donot accept liability for failing to execute a written bid or for errors and omissions in connection with it.(e) Telephone bidsTelephone bids will be accepted no later than 24 hours prior to the sale and only if the capacity of our pool of staffphone bidders allows. Telephone bids may be recorded. By bidding on the telephone, prospective purchasersconsent to the recording of their conversations. Calusari offers all absentee and telephone bidding services as aconvenience to our clients, but will not be responsible for errors or failures to execute bids.(h) ReservesUnless otherwise indicated, all lots are offered subject to a reserve, which is the confidential minimum price below

which the lot will not be sold. The reserve will not exceed the low estimate printed in the catalogue. If any lots arenot subject to a reserve, they will be identified with the symbol next to the lot number. The auctioneer may open thebidding on any lot below the reserve by placing a bid on behalf of the Seller. The auctioneer may continue to bid onbehalf of the seller up to the amount of the reserve, either by placing consecutive bids or by placing bids in responseto other bidders. With respect to lots that are offered without reserve, unless there are already competing bids,the auctioneer, in his or her discretion, will generally open the bidding at 50% of the low pre-sale estimate for thelot. In the absence of a bid at that level, the auctioneer will proceed backwards in his or her discretion until a bid isrecognized, and then continue up from that amount. Absentee bids will, in the absence of a higher bid, be executedat approximately 50% of the low pre-sale estimate or at the amount of the bid if it is less than 50% of the low pre-saleestimate. In the event that there is no bid on a lot, the auctioneer may deem such lot unsold.(i) Calusaris discretionThe Calusari has the right at his absolute and sole discretion to refuse any bid, to advance the bidding in such a

manner as he may decide, to withdraw or divide any lot, to combine any two or more lots and, in the case of error ordispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancelthe sale or to re-offer and resell the item in dispute. If any dispute arises after the sale, our sale record is conclusive.(j) Successful bid and passing of riskSubject to the auctioneers discretion, the highest bidder accepted by the auctioneer will be the Buyer and the strikingof his hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the Sellerand the Buyer. Risk and responsibility for the lot (including frames or glass where relevant) passes to the Buyer at theexpiration of seven calendar days from the date of the sale or on collection by the Buyer if earlier.

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5. AFTER THE SALE(a) Buyers premiumIn addition to the hammer price, the buyer agrees to pay to us the buyers premium together with any applicablevalue added tax. The buyers premium is 10% of the final bid price of each lot up to and including EUR 10,000, 7.5%of the excess of the hammer price above EUR 10,000 and up to and including EUR 100,000 and 5% of the excess ofthe hammer price above EUR 100,000.

(b) Payment and passing of titleThe Buyer must pay the full amount due (comprising the hammer price, buyers premium and any applicable taxes)not later than the seventh (7th) calendar day following the sale. The buyer will not acquire title to the lot until allamounts due to us from the buyer have been received by us in good cleared funds.(c) Collection of purchasesWe shall be entitled to retain items sold until all amounts due to us, have been received in full in good clearedfunds. Subject to this, the Buyer shall collect purchased lots within seven (7) calendar days from the date of the saleunless otherwise agreed between us and the Buyer. Where purchases are not collected within seven (7) calendardays from the date of the sale, whether or not payment has been made, we shall additionally charge the Buyer foradministration, handling, insurance and any other costs incurred.

(d) Packing, handling and shippingAlthough we shall use reasonable efforts to take care when handling, packing and shipping a purchased lot, we arenot responsible for the acts or omissions of third parties whom we might retain for these purposes. Similarly, wherewe may suggest other handlers, packers or carriers if so requested, we do not accept responsibility or liability for theiracts or omissions.(f) Remedies for non paymentIf the buyer fails to make payment in full in good cleared funds within the time required by paragraph 5(b) above, weshall be entitled in our absolute discretion to exercise one or more of the following rights or remedies (in addition toasserting any other rights or remedies available to us by law):(i) to cancel the sale;(ii) the warranty deposit of the Buyer will not be returned;

(iii) to hold the defaulting Buyer liable for the total amount due and to commence legal proceedings for its recoverytogether with interest, legal fees and costs to the fullest extent permitted under applicable law;(iv) to resell the property publicly or privately on such terms as we shall think fit;If we resell the property under paragraph (iv) above, the defaulting buyer shall be liable for payment of any deficiencybetween the total amount originally due to us and the price obtained upon resale as well as for all costs, expenses,damages, legal fees and commissions and premiums of whatever kind associated with both sales or otherwisearising from the default. If we pay any amount to the Seller, the Buyer acknowledges that Calusari shall have all ofthe rights of the Seller, however arising, to pursue the Buyer for such amount.(g) Failure to collect purchasesWhere purchases are not collected within seven (7) calendar days from the date of the sale, whether or not paymenthas been made, we shall additionally charge the Buyer for administration, handling, insurance and any other costs

incurred.

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6. LIMITED WARRANTY6.1 Subject to the terms and conditions of this paragraph, CALUSARI warrants for a period of one (1) year fromthe date of the sale that any property described in headings printed in UPPER CASE TYPE (i.e. headings havingall capital-letter type) in this catalogue which is stated without qualification to be the work of a named author orauthorship, is authentic and not a forgery. The term author or authorship refers to the creator of the property or to

the period, culture, source or origin, as the case may be, with which the creation of such property is identified in theUPPER CASE TYPE description of the property in this catalogue. Only UPPER CASE TYPE headings of lots in thiscatalogue indicate what is being warranted by Calusari. Calusari warranty does not apply to supplemental materialwhich appears below the UPPER CASE TYPE headings of each lot and Calusari is not responsible for any errors oromissions in such material. The warranty is subject to the following conditions:(i) It does not apply where (a) the catalogue description corresponded to the generally accepted opinion of scholarsor experts at the date of the sale or fairly indicated that there was a conflict of opinions; or (b) correct identificationof a lot can be demonstrated only by means of either a scientific process not generally accepted for use untilafter publication of the catalogue or a process which at the date of publication of the catalogue was unreasonablyexpensive or impractical or likely to have caused damage to the property.(ii) The benefits of the warranty are not assignable and shall apply only to the original buyer of the lot as shown onthe invoice originally issued by Calusari when the lot was sold at auction.(iv) In no event will our liability to a Buyer will exceed the hammer price price actually paid. The Buyers sole and

exclusive remedy against Calusari and the Seller, in place of any other remedy which might be available, is thecancellation of the sale and the refund of the hammer price paid for the lot. Neither Calusari nor the Seller will beliable for any special, incidental or consequential damages including, without limitation, loss of profits nor for interest.6.2 To be able to claim under this LIMITED WARRANTY the original purchaser of record must:(i) notify Calusari in writing within three (3) months of receiving any information that causes the original buyer of thelot to question the accuracy of UPPER CASE TYPE type heading, specifying lot number, date of the auction at whichit was purchased and the reasons for such question; and(ii) return the Lot to Calusari original selling location in the same condition as at the day of the sale; and(iii) obtain at the original Buyer's costs, the reports of three independent and recognized experts in the field, whichquestion the accucy of UPPER CASE TYPE type heading.

7. EXTENT OF LIMITED WARRANTYWe agree to refund the purchase price in the circumstances of the LIMITED WARRANTY set out in paragraph 6above. Apart from that, neither the seller nor we, nor any of our officers, employees or agents, are responsible forthe correctness of any statement of whatever kind concerning any lot, whether written or oral, nor for any other errorsor omissions in description or for any faults or defects in any lot. Except as stated in paragraph 2 and 6, neither theSeller, ourselves, our officers, employees or agents, give any representation, warranty or guarantee or assume anyliability of any kind in respect of any lot with regard to merchantability, fitness for a particular purpose, description,size, quality, condition, attribution, authenticity, rarity, importance, medium, provenance, exhibition history, literatureor historical relevance.8. COPYRIGHTThe copyright in all images, illustrations and written material produced by or for Calusari relating to a lot including thecontents of this catalogue, is and shall remain at all times the property of Calusari and shall not be used by the Buyer,

nor by anyone else, without our prior written consent. Calusari and the Seller make no representation or warranty thatthe Buyer of a property will acquire any copyright or other reproduction rights in it.9. LAW AND JURISDICTIONIf any part of these CONDITIONS OF SALE is found by any court to be invalid, illegal or unenforceable, that part shallbe discounted and the rest of the conditions shall continue to be valid to the fullest extent permitted by law.The rights and obligations of the parties with respect to these CONDITIONS OF SALE, the conduct of the auction and anymatters connected with any of the foregoing shall be governed and interpreted by the laws of the jurisdiction in which theauction is held. By bidding at auction, whether present in person or by agent, by written bid, telephone or other means,the Buyer shall be deemed to have submitted, for the benefit of Calusari, to the exclusive jurisdiction of the courts of thatcountry.

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ABSENTEE BID FORM

Please print and complete by hand this Absentee Bid Form bellow.The scannedAbsentee Bid Form together with scans of Identification (Passport or National Identity )and Proof of Address (Utility Bill and Bank Statement issued within the last six months ) should be sent by e-mail at:info(at)calusari-auctions(dot)com. All the scanned documents should bear the signature of a Notary Office in your

country.We accepting bid amounts in EURO, and please use block letters when writing them in the bellow table. Bidders whohave newer purchased at Calusari Auctions will be required to deposit in advance 10% of the maximum price theyare submitted.

Billing Name Client Number

Address

City Country Postal Code

Email Address Telephone

Sale Date Sale Number

I request that Calusari Auctions enters bids to the following lots up to the maximum price, I have indicated for eachlot. I understand that submiting this bid, I have entered into a bidding contract, to purchase the individual lots if my bidis successful, I will be obligated to pay the purchase price which will be the sum of my final bid plus buyers premium.Signature DatePrint Name (IN BLOCK LETTERS)

Lot Number Description Bid

Amount

Maximum price in use BLOCK LETTERS

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PRINTS AND MULTIPLESSALE NUMBER 102, RESULTS

LOT NUMBER PRICE

1 8802 2203 2204 4405 27506 27507 44008 25309 330010 990

The following prices in EUR include the buyer'spremium and are rounded to the nearest euro.Lotswhich did not sell, or have been withdrawn do not

appear bellow. The buyers premium is 10% of the finalbid price of each lot up to and including EUR 10,000,7.5% of the excess of the hammer price above EUR10,000 and up to and including EUR 100,000 and5% of the excess of the hammer price above EUR100,000.Calusari Auctions is not responsible for errorsor omissions.For catalogue subscriptions please write [email protected].

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Sale 103

Documents

Transcript of Sale 103