Sale 105

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BUYER'S GUIDE

CATALOGS

Before each auction we publish illustrated catalogs. Our catalogues provides illustrations, descriptions andestimated values for each "lot". A lot may refer to a single item or to a group of items auctioned together.The catalogues also include the dates and the times for previews and auctions. The online catalogues are

available on our website, http://www.calusari-auctions.com. We offer our catalogues by subscription or bysingle copy. PREVIEWS

All Calusari preview are free and open to the public. Auction previews are your chance to inspect each lotprior to the auction. Therefore, prospective buyers are strongly advised to examine personally any property inwhich they are interested, before the auction takes place, in order to determine its condition, size and whether or not it has been repaired or restored . Items are sold "AS IS" and with all faults; illustrations in our catalogs,website and other materials are provided for identification only. Condition reports may be available uponrequest.

ESTIMATESCalusari catalogs include estimates for each lot , exclusive of buyer's premium. The estimates are providedas an approximate guide to the current market value and should not be interpreted as a representationor prediction of actual selling prices. They are determined well in advance of a sale and are subject torevision. Unless specifically illustrated and noted, fine art frames are not included in the estimate or purchaseprice.Calusari accepts no liability for damage or loss to frames during storage or shipment. RESERVES

All lots in a catalog are subject to a reserve, unless otherwise indicated. The reserve is the minimum pricethat the seller is willing to accept for a lot. The reserve is confidential and does not exceed the low estimatedvalue.

BIDDING AT AUCTION

At Calusari, you can bid in many ways: in person, via absentee bid, or over the phone. Absentee bids maybe submitted in person or via email. A valid Calusari account is required in order to participate in biddingactivity. You can obtain registration information online from our website. By participating in any sale, youare acknowledge that you are bound by our CONDITIONS OF SALE, published in all catalogs and website.Lots are auctioned in consecutive numerical order as they appear in the catalog. Bidding normally beginsbelow the low estimate. The auctioneer will accept bids from interested parties present in the saleroom,from telephone bidders, and from absentee bidders who have left written bids in advance of the sale. Theauctioneer may also execute bids on behalf of the consignor up to the amount of the reserve, but never aboveit. We assume no responsibility for the failure to execute bids for any reason whatsoever.

In Person

If you are planning to bid at auction for the first time, you will need to register at reception desk in order to receive a numbered bod card. To place a bid, hold up your card so that the auctioneer can clearly seeit. Decide on the maximum amount that you wish to pay, exclusive of buyers premium , and continuebidding until your bid prevails or reach your limit. If you are the successful bidder on a lot the auctioneer willacknowledge your paddle number and bid amount. By Telephone

Under special circumstances, we can arrange for you to bid by telephone. Telephone bids will be acceptedno later than 24 hours prior to the sale and only if the capacity of our pool of staff phone bidders allows.Telephone bids may be recorded. By bidding on the telephone, prospective purchasers consent tothe 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.

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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 our website.

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 2.000-5.000 EUR 200 increments

EUR 5.000-10.000 EUR 500 increments EUR 10.000-20.000 EUR 1.000 increments

EUR 20.000-50.000 EUR 2.000 increments

EUR 50.000-100.000 EUR 5.000 increments EUR 100.000-200.000 EUR 10.000 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 buyer’s premium together with any applicable value added tax. Thebuyer’s 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, buyer’s 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

MARC KOPIL (1973-)COUNTERSTRIKE

2005. Acrylic on canvas, 120 x 100 cm.Signed and dated lower right. Estimate

EUR 4.000-5.000 Provenance

Private collection, Oradea

Literature and Illustration

Marc Kopil 2005-2010 , catalogue of the exhibition held at Posticum, Oradea.

Exhibitions

2010, Posticum, Oradea Lot Notes

Marc Kopil about computer games: Computer games [...] represent people's need to escape from the mundane and commonplace world around

us, into a more fantastic realm, in which, paradoxically, things seem to be more safe and well-ordered than

in the real world. I know it is not a serious alternative to reality, but what I'm trying to say is that we all tend to

run away from the toxic reality that sorounds us.

Source: Omagiu , Isoni Design, 2008

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LOT 2

Lot Description

Lot Description

MARC KOPIL (1973-)

ALICE IN WONDERLAND 2007. Acrylic on canvas,120 x 120 cm. Signed and dated lower right. Estimate

EUR 6.000-8.000

Provenance

Private collection, Oradea Literature and Illustration

Omagiu , Isoni Design, 2008Marc Kopil 2005-2010 , catalogue of the exhibition held at Posticum, Oradea. Exhibitions

2010, Posticum, Oradea Lot Notes

Marc Kopil about his angels: To be honest, I don't know what angels are, what they look like, or how to explain them. But the church,

and the religion in general, doesn't have exclusive copyright on them. Maybe they are the people of the

future, unaltered by urban despair; maybe angels are us in a future or past life; maybe they are the purest expression of our need for love - that need which we always postpone because of being too busy with our

immediate and rather ridiculous 'needs' as consumers.

Source: Omagiu , Isoni Design, 2008.

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LOT 3

Lot Description

Lot Description

MARC KOPIL (1973-)JULIO CORTAZAR REVISITED

2010. Acrylic on canvas, 70 x 70 cm. Signed and dated lower left. Estimate

EUR 2.000-3.000

Provenance



Omagiu ,

Marc Kopil 2005-2010 , catalogue of the exhibition held at Posticum, Oradea. Exhibitions

2010, Posticum, Oradea

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LOT 4

Lot Description

WANG DELONG (1940-)DELUGE

2003. Acrylic and colage on canvas.92 x 120 cm. Signed and dated by artist lower right. Estimate


Private collection, Oradea. Aquired from the artist in 2008 by the present owner.


COUNTERPOINT NO4

Lot Notes

Wang Delong lives and works in Qinghai, China. For this abstract expressionist composition the artistfound inspiration from Salvador Dali painting, The Temptation of St.Anthony, and the cave paintingsfrom Cueva de las Manos, Argentina.

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LOT 5

Lot Description

Lot Description

SUGAR ÁNDOR (1903-1944)TOWERS FROM SAN GIMIGNANO

1930. Tempera and oil on hessian. Signed in monogram and dated by artist, S.A.930 , 96 x 56 cm. Estimate


Private collection, Budapest.


Sugár Andor studied painting at Artúr Podolini-Volkmann School and worked in Italy as a silversmith. He was

member of the Socialist Artists Union, Szocialista Képzőművészek Csoportjának.

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LOT 6

Lot Description

KÁDÁR BÉLA (1877-1956)L'EMBRACE

1940's. Wax crayons on paper. Signed lower right Kadar/Bela, 62.8 x 46.4 cm Estimate

EUR 4.000-4.500

Provenance

Private collection, Budapest.

Lot Notes

Kadar Bela adopted in his art most of 20th century international trends such as Cubism,Futurism, Neo-Privitivism, Constructivism and the Metaphysical School. The influence of German

Expressionism and the style of Carl Hofer is showed in this work. Reference

Auction 145, Lot 58, 2007, Villa Grisebach, Germany

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LOT 7

Lot Description

ARMAND SCHÖNBERGER(1885 - 1974)GIRL READING

1940's. Pastel on wove paper.Signed lower right,Schönberger Armand , 64 x 48.2 cm Estimate

EUR 1.000-1.500

Provenance

Dr. Istvan Schlegl Gallery, Zurich,circa 1970

Private collection, Budapest

Lot Notes

Armand Schönberger studied in Munich and at the Society of Plastic Artists from Baia Mare.He painted metropolitan and industrial landscapes, still lifes and portraits but he is especially known for painting the exuberance of Budapest night life in 20’s and 30’s at the coffee houses and at the concerts.

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LOT 8

Lot Description

NAGY OSZKÁR(1883 - 1965)LANDSCAPE FROM BAIA MARE

1930's. Oil on cardboard.Signed lower right, Nagy Oszkár.

54.5 x 74 cm

Estimate

EUR 5.000-6.000

Provenance


Lot Notes

Nagy Oszkár studied painting with Károly Ferenczy at the Academy of Fine Arts, Budapest and withIstván Réti, the founder of Society of Plastic Artists from Baia Mare. After his one year scholarship inItaly he returned to Baia Mare where he soon developed his artistic style. He painted mostly landscapesfrom Baia Mare and portraits. Althought unique, his art cand be traced to Paul Cézanne landscapes andGerman Expressionism. He exhibited in 1922 at Satu Mare, in 1936, at Carlton Hotel, Timisoara, in 1942 atUniversity Library, Cluj-Napoca and in 1944 at Széchenyi Square Kiosk, Oradea. Nagy Oszkár founded theartists colony in Baia Sprie (Felsőbánya) which was intended to be the rival of the Baia Mare (Nagybánya)colony.Due to the facts that he worked remote in Baia Mare, Baia Sprie and never exhibited his paintings in major cities he unfortunately did not achieved a fame in Europe.

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LOT 9

Lot Description

CORNELIU BABA(1906-1997)PORTRAIT OF A YOUNG GIRL

1930's. Oil on cardboard.Signed lower right, Baba.

49.5 x 66.3 cm

Estimate

EUR 40.000-50.000

Provenance

Ex-collection ALEXANDRU HASAŞ, Oradea.

Lot Notes

Corneliu Baba did not joined the modernism of 20th century. He rather developed a sui generis style,somethimes considered unfashionably for a 20th century painter, focusing on what Baba himself cited, ElGreco, Rembrandt, and Goya as particularly strong influences. I have asked myself so many times, as others

have asked me too, why I am held in such thrall by El Greco, by Rembrandt, and by Goya… Rembrandt is the

nearest to me. (quoted by Pavel Susara in his book Corneliu Baba, London: Parkstone, 2001. p. 123).

Corneliu Baba favourite subjects were the psychological portrait, the harlequin, and the mad king. Thepresent lot represent, probably , the most profound psychological child portrait in the history of Romanian

painting.

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LOT 10

Lot Description

MAX HERMAN MAXY(1895 - 1971)

THREE MUSICIANS 1926. Oil on canvans.Signed and dated lower right, maxy/1926.

49.5 x 57.7 cm

Estimate

EUR 70.000-80.000

Provenancecirca 1930 to circa 1956, Horovitz, Bucharest,circa 1956 to 2003, Mitrutz collection, Romania,2005 to present, private collection, Basel, Switzerland

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Max Herman Maxy was a painter, designer and editor who played a major role in RomanianModernism. Together with Ilarie Voronca, Stephan Roll, Filip Brunea-Fox, Benjamin Fondane,Claude Sernet, and Ion Călugăru, Max Herman Maxy gave the modernist art movements (cubism,dadaism, futurism) the shape of Integralism. The therm (translated from Romanian Integralist) shouldnot be confused with National Integralism ideology.

Max Herman was born in Braila on 26 October 1895, in the family of carpenter Iancu Herman and hiswife Eti.He studied in Bucharest under Camil Ressu and Iosif Iser in 1913-1915 and under Arthur Segal in1922 at Berlin. It was Iosif Iser who suggested him “Maxy” pseudonym.

He joined Novembergruppe in October 1922 and exhibited at Der Sturm on May 1923 together with: Alexey von Jawlensky, Arthur Segal, Cesar Domela, El Lissitzky, Erich Buchholz, Hans Richter,Hannah Hoch, Ivan Puni, Lazlo Peri, Lazlo Moholy-Nagy, Teo Van Doesburg, and Vilmos Huszar. Returning in Bucharest he organized First International Contimporanul Exhibition with theparticipation of: Arthur Segal, Constantin Brancusi, Erich Buchholz, Hans Mattis-Teitsch, Hans Arp,

Hans Richter, Karel Teige, Kurt Schwitters, Lajos Kassak, Marcel Iancu, Mieczysław Szczuka, MilițaPetrașcu, Paul Klee, Victor Brauner, and Viking Eggeling. The exhibition was followed by the secondin 1930 held together with the Facla Group, honouring the visit of F.T. Marinetti in Romania, by thethird in 1935 and by the fourth in 1936. In January 1925, using the Bauhaus as a the model he organized Academia Artelor Decorative (TheAcademy for Applied Arts).In May 1929 at Exposicion Internacional held in Barcelona, Max Herman Maxy was awarded withgold medal for his decorative work “Tea Set”.In May 1930 M.H.Maxy exhibited at the Gemeente Museum voor Moderne Kunst, The Hague andin June at Stedelijk Museum, Amsterdam.

In July 1930 M.H.Maxy exhibited at Galerie Giroux, Bruxelles.

With the invitation of Filippo Tommaso Marinetti, in December 1933, Max Herman Maxy exhibited atFuturist Art Exhibition, held in Rome.

M.H.Maxy exhibited at Romanian Pavilion, Exposition Universale, on September 1937.

After World War II he exhibited at Prague in 1956 and at Budapest in 1959. He died in 1971 inBucharest.

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Max Herman Maxy contributions (costume design or/and scenic design) to Romanian

theatre:

YEAR TITLE AUTHOR THEATRE DIRECTOR M.H.MAXY

1925 Cantaretul tristetiisaleDer Zinger fun

zayn troyer

Ossip Dimov(JosephPerlman)

Central I.M. Daniel costume design and

scenic design

Saul André Gide Central I.M. Daniel costume design and

scenic design

1926 Omul, Bestia siVirtuteaL'Uomo, La Bestia

e La Virtù

Luigi Pirandello Central Henry Tarlo costume design and

scenic design

Got fun Nekomeh Sholem Asch Central Sandu Eliad scenic design

Manechinulsentimental

Ion Minulescu Central Paul Gusty costume design and

scenic design

Gandul LeonidNikolaievichAndreyev

Central Alexander Stein

scenic design

1927 Greierul de pe

vatraThe Cricket on the

Hearth

Charles Dickens Central Alexander

Stein

costume design and

scenic design

RatatiiLes Ratés

Henri RenéLenormand

Caragiale Sandu Eliad scenic design

CamaraziiKamraterna

AugustStrindberg

Caragiale YankevShternberg

scenic design

1930 CroitorasulfermecatDer farkishefter

shnayder

Sholem Aleichem BITSBukareshter

Idishe Teater-

Studie

JacobSternberg

scenic design

Le Couturier enchanté

Salom Asch BITSBukareshter

Idishe Teater-

Studie

JacobSternberg

scenic design

Noaptea in targulvechi A Night in the Old

Marketplace

Isaac Leib PeretzandJacob Gordin

BITSBukareshter

Idishe Teater-

Studie

JacobSternberg

scenic design

1932 Maia Simon Gantillon Liber MariettaSadova(Sadoveanu)

scenic design

1933 Kukuriku, Sholem-Aleykhem

YankevShternberg

Sophia I. LieblichGardenJignitza

YankevShternberg

costume designand scenic design

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1934 Bukaresht-Yerusholaim

YankevShternberg

Sophia I. LieblichGardenJignitza

YankevShternberg

costume design and

scenic design

1941 Fratii Sanger The Constant

Nymph

MargaretKennedy

Barasheum MoniGhelerter

costume design and

scenic design

1942 Cutia cu iluzii(?) Isac Ludo Barasheum MoniGheleter

design decor

1943 Cantaretul tristetiisaleDer Zinger fun

zayn troyer

Osip Dimov Barasheum Sandu Eliad costume design and

scenic design

1944 Melo Henri Bernstein Barasheum MoniGhelerter

scenic design

Potopul

Syndafloden

Johan Henning

Berger

Barasheum Moni

Ghelerter

scenic design

The Big LotteryDos groyse gevins

Sholem Aleichem Barasheum Sandru Eliad scenic design

Nopti fara luna Mihail Sebastian Barasheum MoniGhelerter

scenic design

1948 FundaturaDead End

Sidney Kingsley National Studio DinuNegreanu

scenic design

1970 Noaptea in targulvechi

A Night in the Old Marketplace

Isaac Leib Peretzand

Jacob Gordin

Evreiesc de Stat Iso Schapira scenic design

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Personal exhibitions of M.H.Maxy:

Date Location 1920 November Bucharest Unirea Association Hall

1921 November Bucharest Mozart Hall

1923 April Berlin Galerie Der Sturm

1927 February Bucharest Academy of Decorative Arts

October Bucharest Academy of Decorative Arts

1928 November Bucharest Academy of Decorative Arts

1937 April Bucharest Mozart Hall

1943 December? Bucharest in his appartment

1945 December Bucharest Dalles Hall

1965 October Bucharest Dalles Hall

Important group exhibitions of M.H. Maxy:

1918 April Iasi Gandul Liber Hall

1921 May Bucharest Arta Romana (Exhibition Romanian Art )

1922 May Bucharest Arta Romana (Exhibition Romanian Art )

October Berlin Jury-Free Art Show

1923 May Berlin Gallery Der Sturm

1924 May Bucharest Salonul OficialOfficial Salon

November Bucharest First International Contimporanul Exhibition

1925 May Bucharest Salonul OficialOfficial Salon

1926 October Bucharest Academia Artelor Decorative Academy for Decorative Arts

1927 April Berlin Arthur Segal School, first exhibitionat Kunsthaus Twardy

May Bucharest Hasefer Library and Publishing House

September Bucharest Congres de la Presse Latine /Exposition d’art roumain

1929 April Bucharest Academia Artelor Decorative/Grupul de Arta Noua

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Academy for Decorative Arts/ New Art

Group

May Barcelona Exposicion InternacionalInternational Exhibition

M. H. Maxy was awarded with gold medalfor his decorative work “Tea Set”

1930 April Bucharest Salonul OficialOfficial Salon

May Bucharest Second Contimporanul Exhibitionorganized together with newspaper FACLA(flame) honouring the visit of F.T. Marinettiin Romania.

May The Hague Gemeente Museum voor Moderne Kunst,Tentoonsteling van Roemeensche KunstRomanian Art Exhibtion

June Amsterdan Stedelijk MuseumTentoonsteling van Roemeensche KunstRomanian Art Exhibition

July Bruxelles Exposition d’Art Roumain a l’occasion duCentenaire de l’independance a BelgeRomanian Art Exhibition at the Centenary

of Belgium Independence

1931 May Bucharest Salonul Oficial de Arhitecture si

Arta DecorativaOfficial Salon of Achitecture and Design

1932 January Bucharest Grupul de Arta NouaNew Art Group

1933 February Bucharest Sala Dalles, Grupul Plastic CriterionDalles Hall together with Criterion Group

1933 December Rome Futurist Art Exhibition

1934 April Bucharest Grupul Plastic

1935 February Bucharest Expozitia Grupului Contimporanul,Sala MozartThird Contimporanul Group Exhibition,

Mozart Hall

May Bucharest Comedia Theatre

1936 January Bucharest Expozitia Grupului ContimporanulFourth Contimporanul Group Exhibition

May BucharestSalonul OficialOfficial Salon

1937 September Paris Romanian Pavilion, Exposition Universale

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Regarding the present lot, a year before Max Herman Maxy painted Three Musicians, he designed thecostumes and the scenes for the play Der Zinger fun zayn troyer by Ossip Dimov (Joseph Perlman) and for Saul by André Gide. Both were played at the Teatrul Central and directed by I.M. Daniel.In the 1926 Max Herman Maxy designed the costumes (i) and/or the scenes (ii) for:

L'Uomo, La Bestia e La Virtù by Luigi Pirandello, directed by Henry Tarlo, ( i and ii)

Got fun Nekomeh by Sholem Asch, directed by Sandu Eliad, (ii) Manechinul Sentimental by Ion Minulescu, directed by Paul Gusty,( i and ii).

Thought by Leonid Nikolaievich Andreyev, directed by Alexander Stein, (ii) All were played at the Teatrul Central. Taking into account the work in the collection of National Museum of Art of Romania entitled Devils, study for costumes design for the play Saul by André Gide”, the present lot represent the costumes for the same play.

Biography

Israil Bercovici, O suta de ani de teatru evreiesc in Romania, Editura Integral, Bucuresti, 1998Petre Oprea, M.H.Maxy , Editura Meridiane, Bucuresti, 1974Stephan Roll, Optzeci de ani de teatru evreiesc in Romania (1876-1956), TESB, Bucuresti, 1956

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CONDITIONS OF SALE

These CONDITIONS OF SALE contain all the terms on which Calusari and the Seller contract withthe Buyer. By participating in any sale, you are acknowledge that you are bound by these terms andconditions.

1. CALUSARI AS AGENTExcept as otherwise stated, Calusari acts as agent for the Seller. The property will be offered by us asagent for the Seller, unless the catalogue indicates otherwise. Therefore, the contract for the sale of theproperty is therefore made between the Seller and the Buyer. 2. AS ISGoods auctioned are often of some age. The authenticity of property listed in the catalogue is guaranteedas stated in the LIMITED WARRANTY, in paragraph 6. We and the Seller are no responsible for errors and omissions in the printed catalogue, online catalogue, or in any supplemental material. Allproperty is sold "AS IS" without any representations 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) historical relevance, and (l) the correctnessof the catalogue or other descriptions of the physical conditions of any property and no statementanywhere whether oral or written, whether made in the catalogue, an advertisement, a bill of sale, asaleroom posting or announcement, or elsewhere shall be deemed such a warranty, representations or assumptions of liability. 3. BEFORE THE SALE(a) Examination of propertyProspective buyers are strongly advised to examine personally any property in which they are interested,before the auction 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 Calusarinor the Seller provides any guarantee in relation to the nature of the property apart from the LIMITEDWARRANTY in paragraph 7 below. The property is otherwise sold "AS IS". (b) All statements made by us in the catalogue entry for the property or in the condition report, or madeorally or in writing elsewhere, are statements of opinion and are not to be relied on as statements of fact.Such statements do not constitute a representation, warranty or assumption of liability by us of any kind.References in the catalogue entry or the condition report to damage or restoration are for guidance onlyand should be evaluated by personal inspection by the bidder or a knowledgeable representative. Theabsence of such a reference does not imply that an item is free from defects or restoration, nor doesa reference to particular defects imply the absence of any others. Estimates of the selling price should

not be relied on as a statement that this is the price at which the item will sell or its value for any other purpose. Except as set forth in paragraph 6 below, neither Calusari nor the Seller is responsible in anyway for errors and omissions in the catalogue or any supplemental material. (c) Buyer’s responsibilityExcept as stated in the LIMITED WARRANTY in paragraph 6 below, all property is sold "AS IS" withoutany representation or warranty of any kind by Calusari or the Seller. Buyers are responsible for satisfyingthemselves concerning 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 suchwithdrawal.

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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 inany auction and to reject any bid. (b) Registration before bidding

A prospective buyer must complete and sign a registration form and provide identification before bidding.We may require 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 thebuyer’s premium and all applicable taxes, plus all other applicable charges, unless it has been explicitlyagreed in writing with before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to Calusari, and that Calusari will only look to the principal for payment. (d) Absentee bids

We will use reasonable efforts to carry out written bids delivered to us prior to the sale for theconvenience of clients who are not present at the auction in person, or by an agent or by telephone.Please refer to the catalogue for the ABSENTEE 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 theperson whose written bid was received and accepted first. Execution of written bids is a free serviceundertaken subject to other commitments at the time of the sale and we do not accept liability for failing toexecute 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 staff phone bidders allows. Telephone bids may be recorded. By bidding on the telephone,

prospective purchasers consent to the recording of their conversations. Calusari offers all absenteeand telephone bidding services as a convenience 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 minimumprice below which the lot will not be sold. The reserve will not exceed the low estimate printed in thecatalogue. If any lots are not subject to a reserve, they will be identified with the symbol • next to thelot number. The auctioneer may open the bidding on any lot below the reserve by placing a bid onbehalf of the Seller. The auctioneer may continue to bid on behalf of the seller up to the amount of thereserve, either by placing consecutive bids or by placing bids in response to other bidders. With respect

to lots that are offered without reserve, unless there are already competing bids, the auctioneer, in hisor her discretion, will generally open the bidding at 50% of the low pre-sale estimate for the lot. In theabsence 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 executed at approximately 50% of the low pre-sale estimate or at the amount of the bid if it is less than50% of the low pre-sale estimate. In the event that there is no bid on a lot, the auctioneer may deem suchlot unsold. (i) Calusari’s discretionThe Calusari has the right at his absolute and sole discretion to refuse any bid, to advance the bidding insuch a manner as he may decide, to withdraw or divide any lot, to combine any two or more lots and, inthe case of error or dispute, and whether during or after the sale, to determine the successful bidder, tocontinue the bidding, to cancel the sale or to re-offer and resell the item in dispute. If any dispute arisesafter the sale, our sale record is conclusive. (j) Successful bid and passing of riskSubject to the auctioneer’s discretion, the highest bidder accepted by the auctioneer will be the Buyer andthe striking of his hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the Seller and the Buyer. Risk and responsibility for the lot (including frames or glass where

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relevant) passes to the Buyer at the expiration of seven calendar days from the date of the sale or oncollection by the Buyer if earlier.

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5. AFTER THE SALE(a) Buyer’s premiumIn addition to the hammer price, the buyer agrees to pay to us the buyer’s premium together with anyapplicable value added tax. The buyer’s premium is 10% of the final bid price of each lot up to andincluding EUR 10,000, 7.5% of the excess of the hammer price above EUR 10,000 and up to andincluding EUR 100,000 and 5% of the excess of the hammer price above EUR 100,000.

(b) Payment and passing of titleThe Buyer must pay the full amount due (comprising the hammer price, buyer’s premium and anyapplicable taxes) not later than the seventh (7th) calendar day following the sale. The buyer will notacquire title to the lot until all amounts due to us from the buyer have been received by us in good clearedfunds. (c) Collection of purchasesWe shall be entitled to retain items sold until all amounts due to us, have been received in full in goodcleared funds. Subject to this, the Buyer shall collect purchased lots within seven (7) calendar daysfrom the date of the sale unless otherwise agreed between us and the Buyer. Where purchases are not

collected within seven (7) calendar days from the date of the sale, whether or not payment has beenmade, we shall additionally charge the Buyer for administration, handling, insurance and any other costsincurred. (d) Packing, handling and shippingAlthough we shall use reasonable efforts to take care when handling, packing and shipping a purchasedlot, we are not responsible for the acts or omissions of third parties whom we might retain for thesepurposes. Similarly, where we may suggest other handlers, packers or carriers if so requested, we do notaccept responsibility or liability for their acts or omissions. (f) Remedies for non payment

If the buyer fails to make payment in full in good cleared funds within the time required by paragraph 5(b)above, we shall be entitled in our absolute discretion to exercise one or more of the following rights or remedies (in addition to asserting 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 itsrecovery together 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 paymentof any deficiency between 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 kindassociated with both sales or otherwise arising from the default. If we pay any amount to the Seller, theBuyer acknowledges that Calusari shall have all of the rights of the Seller, however arising, to pursue theBuyer 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 payment has been made, we shall additionally charge the Buyer for administration, handling,insurance and any other costs incurred.

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6. LIMITED WARRANTY 6.1 Subject to the terms and conditions of this paragraph, CALUSARI warrants for a period of five (5)years from the date of the sale that any property described in headings printed in UPPER CASE TYPE(i.e. headings having all capital-letter type) in this catalogue which is stated without qualification to be thework of a named author or authorship, 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, withwhich the creation of such property is identified in the UPPER CASE TYPE description of the propertyin this catalogue. Only UPPER CASE TYPE headings of lots in this catalogue indicate what is beingwarranted by Calusari. Calusari warranty does not apply to supplemental material which appears belowthe UPPER CASE TYPE headings of each lot and Calusari is not responsible for any errors or omissionsin 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 opinionof scholars or experts at the date of the sale or fairly indicated that there was a conflict of opinions; or (b) correct identification of a lot can be demonstrated only by means of either a scientific process notgenerally accepted for use until after publication of the catalogue or a process which at the date of publication of the catalogue was unreasonably expensive 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 asshown on the 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 Buyer’ssole and exclusive remedy against Calusari and the Seller, in place of any other remedy which mightbe available, is the cancellation of the sale and the refund of the hammer price paid for the lot. Neither Calusari nor the Seller will be liable 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 the lot to question the accuracy of UPPER CASE TYPE type heading, specifying lot number,date of the auction at which it 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 thefield, which question 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 inparagraph 6 above. Apart from that, neither the seller nor we, nor any of our officers, employees or agents, are responsible for the correctness of any statement of whatever kind concerning any lot, whether written or oral, nor for any other errors or omissions in description or for any faults or defects in any lot.

Except as stated in paragraph 2 and 6, neither the Seller, ourselves, our officers, employees or agents,give any representation, warranty or guarantee or assume any liability of any kind in respect of anylot with regard to merchantability, fitness for a particular purpose, description, size, quality, condition,attribution, authenticity, rarity, importance, medium, provenance, exhibition history, literature or historicalrelevance. 8. COPYRIGHTThe copyright in all images, illustrations and written material produced by or for Calusari relating to alot including the contents of this catalogue, is and shall remain at all times the property of Calusari andshall not be used by the Buyer, nor by anyone else, without our prior written consent. Calusari and theSeller make no representation or warranty that the 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 shall be discounted and the rest of the conditions shall continue to be valid to the fullest extentpermitted by law.The rights and obligations of the parties with respect to these CONDITIONS OF SALE, the conduct of theauction and any matters connected with any of the foregoing shall be governed and interpreted by the laws

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of the jurisdiction in which the auction 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 that country.

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ABSENTEE BID FORM

Please print and complete by hand this Absentee Bid Form bellow.The scanned Absentee 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 sentby e-mail at: info(at)calusari-auctions(dot)com. All the scanned documents should bear the signature of aNotary Office in your country.We accepting bid amounts in EURO, and please use block letters when writing them in the bellow table.Bidders who have newer purchased at Calusari Auctions will be required to deposit in advance 10% of the maximum price they are 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 indicatedfor each lot. I understand that submiting this bid, I have entered into a bidding contract, to purchase theindividual lots if my bid is successful, I will be obligated to pay the purchase price which will be the sum of my final bid plus buyer’s premium. Signature Date Print 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.Lots which did not sell, or have beenwithdrawn do not appear bellow. The buyer’spremium is 10% of the final bid price of each lotup to and including EUR 10,000, 7.5% of theexcess of the hammer price above EUR 10,000and up to and including EUR 100,000 and 5%of the excess of the hammer price above EUR100,000.Calusari Auctions is not responsible for errors or omissions. For catalogue subscriptions please write [email protected].

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Sale 105

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Transcript of Sale 105