Page 49 - Sotheby's Imperial Chiense Porcelain Nov 4 2020 London

omission in the currency amounts shown. paying for their purchases on an extended notified immediately to the party identified British Historical Portraits bid in excess of the irrevocable bid, may be 吞) will be subject to payment of the Artist’s INFORMATION FOR BUYERS of shipment or, if the lots were carried by
3. AFTER THE AUCTION payment term basis. Credit terms must in your quotation and/or the accompanying UK LICENCE THRESHOLD: £10,000 compensated for providing the irrevocable Resale Right, at a percentage of the hammer hand, proof of travel and completion of a
be arranged prior to the sale. In advance of documentation. bid by receiving a contingent fee, a fixed price calculated as follows: The following paragraphs are intended to form available from the Post Sale Service
Invoices Successful bidders will receive an determining whether to grant the extended Sotheby’s recommends that you retain fee or both. If the irrevocable bidder is the give general guidance to buyers on the VAT Group.
invoice detailing their purchases and giving payment terms, Sotheby’s may require Export The export of any lot from the UK all import and export papers, including successful bidder, any contingent fee, fixed Portion of the hammer price (in €) and certain other potential tax implications
instructions for payment and clearance of credit references and proof of identity and or import into any other country may be licences, as in certain countries you may be fee or both (as applicable) for providing Royalty Rate of purchasing property at Sotheby’s. The 3. PROPERTY WITH A α SYMBOL
goods. residence. subject to one or more export or import required to produce them to governmental the irrevocable bid may be netted against From 0 to 50,000 4% information concerns the most usual
licences being granted. It is the buyer’s From 50,000.01 to 200,000 3% circumstances and is not intended to be Items sold to buyers whose address is in the
Payment Payment is due immediately after Collection It is Sotheby’s policy to responsibility to obtain any relevant export authorities. the irrevocable bidder’s obligation to pay From 200,000.01 to 350,000 1% EU will be assumed to be remaining in the
the sale and may be made by Sterling Wire request proof of identity on collection of or import licence. The denial of any licence Endangered Species Items made of or the full purchase price for the lot and the From 350,000.01 to 500,000 complete. In all cases the relevant tax EU. The property will be invoiced as if it had
Transfer or Sterling Cheque. Payments by a lot. Lots will be released to you or your required or delay in obtaining such licence incorporating plant or animal material, purchase price reported for the lot shall be 0.5% legislation takes precedence and the VAT no VAT symbol (see ‘Property with no VAT
rates in effect on the day of the live auction
net of any such fees. From time to time,
Sterling Cash and by Credit/Debit Cards are authorised representative when full and cannot justify the cancellation of the sale such as coral, crocodile, ivory, whalebone, Exceeding 500,000 will be the rates charged except for lots sold symbol’ above). However, if the property is
also accepted subject to certain restrictions cleared payment has been received by or any delay in making payment of the total tortoiseshell, etc., irrespective of age or Sotheby’s may enter into irrevocable bid 0.25% to be exported from the EU, Sotheby’s will
and/or surcharges – please see below. Sotheby’s. If you are in doubt about the amount due. Sotheby’s, upon request and value, may require a licence or certificate agreements that cover multiple lots. In such subject to Temporary Admission for which re-invoice the property under the normal
location of your purchases, please contact for an administrative fee, may apply for a prior to exportation and require additional instances, the compensation Sotheby’s will The Artist’s Resale Right payable will be the applicable rate will be that in force at the VAT rules (see ‘Property sold with a †
• It is against Sotheby’s general policy to pay the irrevocable bidder is allocated to the aggregate of the amounts payable time of collection. It should be noted that, for symbol’ above) as requested by the seller.
accept single or multiple related payments the Sale Administrator prior to arranging licence to export your lot(s) outside the UK. licences or certificates upon importation the lots for which the irrevocable bidder is under the above rate bands, subject to a VAT purposes only, Sotheby’s is not usually
in the form of cash or cash equivalents in collection. Please note that items marked Sotheby’s, upon request and for an to any country outside the EU. Please not the successful purchaser. Under such maximum royalty payable of 12,500 euros treated as an agent and most property is Items sold to buyers whose address is
excess of the local currency equivalent of with a ‘W’ in the catalogue will be sent to administrative fee, may apply for a licence to note that the ability to obtain an export circumstances, the total compensation to for any single work each time it is sold. The sold as if it is the property of Sotheby’s. outside the EU will be assumed to be
Sotheby’s Greenford Park Fine Art Storage
US$10,000. export your lot(s) outside the UK. licence or certificate does not ensure the irrevocable bidder will not exceed the maximum royalty payable of 12,500 euros exported from the EU. The property will be
Facility immediately following the sale and the ability to obtain an import licence or In the following paragraphs, reference to VAT invoiced under the normal VAT rules (see
• It is Sotheby’s policy to request any new therefore buyers are requested to arrange • An EU Licence is necessary to export certificate in another country, and vice total buyer’s premium, overhead premium applies to works sold for 2 million euros and symbols shall mean those symbols located ‘Property sold with a † symbol’ above).
clients or buyers preferring to make a cash early collection of their goods as they cultural goods subject to the EU Regulation versa. For example, it is illegal to import and other amounts paid to Sotheby’s in above. Calculation of the artist’s resale right beside the lot number or the pre-sale Although the hammer price will be subject
will be based on the pound sterling / Euro
respect of any lots for which the irrevocable
payment to provide: proof of identity (by will be subject to handling and storage on the export of cultural property (EEC African elephant ivory into the United bidder is not the successful bidder. If the estimates in the cataloguing (or amending to VAT this will be cancelled or refunded
providing some form of government issued charges after 30 days. Removal, storage No. 3911/92, Official Journal No. L395 of States and there are other restrictions on reference exchange rate quoted on the date sale room notice). upon export - see ‘Exports from the
identification containing a photograph, and handling charges may be levied on 31/12/92) from the European Community. the importation of ivory into the US under irrevocable bid is not secured until after of the sale by the European Central Bank. European Union’. However, buyers who are
such as a passport, identity card or driver’s uncollected lots. Please refer to Condition certain US regulations which are designed the printing of the auction catalogue, ◉ Restricted Materials 1. PROPERTY WITH NO VAT SYMBOL not intending to export their property from
Sotheby’s will notify bidders that there is an
licence) and confirmation of permanent 7 of the Conditions of Business for Buyers • A UK Licence is necessary to move cultural to protect wildlife conservation. Sotheby’s irrevocable bid on the lot by one or more of Lots with this symbol have been identified Where there is no VAT symbol, Sotheby’s is the EU should notify our Client Accounts
address. Thank you for your co-operation. published below. goods valued at or above the relevant UK suggests that buyers check with their at the time of cataloguing as containing
Licence limits from the UK. the following means: a pre-sale or pre-lot able to use the Auctioneer’s Margin Scheme Department on the day of the sale and the
Cheques should be made payable to Storage Storage and handling charges may own government regarding wildlife import announcement, by written notice at the organic material which may be subject to and VAT will not normally be charged on the property will be re-invoiced showing no VAT
restrictions regarding import or export.
requirements prior to placing a bid. It is the
Sotheby’s. Although personal and company apply. For information concerning post sale For export outside the European auction or by including an irrevocable bid hammer price. on the hammer price (see ‘Property sold
cheques drawn in pounds sterling on UK storage and charges, please see Sotheby’s Community, an EU Licence will be required buyer’s responsibility to obtain any export or symbol in the e-catalogue for the sale prior The information is made available for the Sotheby’s must bear VAT on the buyer’s with no VAT symbol’ above).
banks are accepted, you are advised that Greenford Park, Storage and Collection for most items over 50 years of age with import licences and/or certificates as well as to the auction. From time to time, Sotheby’s convenience of Buyers and the absence premium and overhead premium and
property will not be released until such Information published below. Please refer to a value of over £41,018. The following is a any other required documentation (please or any affiliated company may provide the of the Symbol is not a warranty that there hence will charge an amount in lieu of VAT 4. PROPERTY SOLD WITH
refer to Condition 11 of the Conditions of
A ‡ OR Ω SYMBOL
are no restrictions regarding import or
cheques have cleared unless you have a Condition 7 of the Conditions of Business for selection of categories of items for which irrevocable bidder with financing related to at the standard rate on these premiums.
pre-arranged Cheque Acceptance Facility. Buyers published below. other value limits apply and for which Business for Buyers published below). the irrevocable bid. If the irrevocable bidder export of the Lot; Bidders should refer to This amount will form part of the buyer’s These items have been imported from
Forms to facilitate this are available from the an EU Licence may be required. It is not Please note that Sotheby’s is not able to is advising anyone with respect to the lot, Condition 11 of the Conditions of Business premium and overhead premium on our outside the EU to be sold at auction under
Post Sale Services Department. Purchases remaining at our New Bond exhaustive and there are other restrictions. assist buyers with the shipment of any lots Sotheby’s requires the irrevocable bidder for Buyers. Please also refer to the section invoice and will not be separately identified. Temporary Admission. When Sotheby’s
Street premises 90 days after the sale may containing ivory and/or other restricted on Endangered Species in the Buying
Bank transfers Our bank account details be transferred to Sotheby’s Greenford Park EU Licence Thresholds Archaeological materials into the US. A buyer’s inability to to disclose his or her financial interest in the at Auction Guide. As indicated in the A limited range of goods, including most releases such property to buyers in the
lot. If an agent is advising you or bidding on
are shown on our invoices. Please include Fine Art Storage (see Sotheby’s Greenford objects export or import these lots cannot justify a Endangered Species section, Sotheby’s is books, are not liable to VAT and therefore UK, the buyer will become the importer
your name, Sotheby’s account number Park, Storage and Collection information). EU LICENCE THRESHOLD: ZERO delay in payment or a sale’s cancellation. your behalf with respect to a lot identified not able to assist buyers with the shipment no amount in lieu of VAT will be added to the and must pay Sotheby’s import VAT at the
as being subject to an irrevocable bid, you
following rates on the hammer price:
and invoice number with your instructions All such transferred purchases will be should request that the agent disclose of any lots with this symbol into the US. A premiums.
to your bank. Please note that we reserve subject to further storage and handling Elements of artistic, historical or EXPLANATION OF SYMBOLS whether or not he or she has a financial buyer’s inability to export or import any lots Please see ‘Exports from the European ‡ - the reduced rate
the right to decline payments received charges from the point of transfer. religious monuments with this symbol cannot justify a delay in Union’ for the conditions to be fulfilled Ω - the standard rate
from anyone other than the buyer of record Loss or Damage Buyers are reminded EU LICENCE THRESHOLD: ZERO The following key explains the symbols you interest in the lot. payment or a sale’s cancellation. before the amount in lieu of VAT on the
and that clearance of such payments may see beside the lots of property included ⊻ Interested Parties buyer’s premium and overhead premium You should also note that the appropriate
will be required. Please contact our Post that Sotheby’s accepts liability for loss or Manuscripts, documents and in this sale. Lots with this symbol indicate that parties ∏ Monumental may be cancelled or refunded. rate will be that in force on the date of
Sale Services Department if you have any damage to lots for a maximum period of archives (excluding printed matter) with a direct or indirect interest in the lot Lots with this symbol may, in our opinion, collection of the property from Sotheby’s
questions concerning clearance. thirty (30) days after the date of the live EU LICENCE THRESHOLD: ZERO ○ Guaranteed Property may be bidding on the lot, including (i) the require special handling or shipping services (VAT-registered buyers from within the and not that in force at the date of the sale.
auction. Please refer to Condition 7 of the The seller of lots with this symbol has due to size or other physical considerations. European Union (EU) should note that the
Card payment Sotheby’s accepts payment Conditions of Business for Buyers published Architectural, scientific and engineering been guaranteed a minimum price from beneficiary of an estate selling the lot, or Buyers are advised to inspect the lot and amount in lieu of VAT contained within the These lots will be invoiced under the margin
(ii) the joint owner of a lot. If the interested
by Visa, MasterCard, American Express below. drawings produced by hand one auction or a series of auctions. This to contact Sotheby’s prior to the sale to buyer’s premium and overhead premium scheme. Sotheby’s must bear VAT on the
and CUP credit and debit cards. Card Shipping Sotheby’s offers a comprehensive guarantee may be provided by Sotheby’s party is the successful bidder, they will be discuss any specific shipping requirements. cannot be cancelled or refunded by buyer’s premium and overhead premium
required to pay the full buyer’s premium and
payments may not exceed £30,000 per EU LICENCE THRESHOLD: £13,271 or jointly by Sotheby’s and a third party. overhead premium. In certain instances, Sotheby’s or HM Revenue and Customs.) and hence will charge an amount in lieu of
sale. All cards are accepted in person at shipping service. Except if otherwise Photographic positive or negative or Sotheby’s and any third parties providing interested parties may have knowledge Premium Lot VAT at the standard rate on this premium.
Sotheby’s premises at the address noted in indicated in this Buying At Auction Guide, any assemblage of such photographs a guarantee jointly with Sotheby’s benefit In order to bid on “Premium Lots” ( in Buyers requiring an invoice under the This amount will form part of the buyer’s
the catalogue. With the exception of CUP, our Shipping Department can advise buyers financially if a guaranteed lot is sold of the reserve. In the event the interested print catalogue or  in eCatalogue) normal VAT rules, instead of a margin premium and overhead premium on our
party’s possible participation in the sale
on exporting and shipping property, and
card payments may also be made (a) online EU LICENCE THRESHOLD: £13,217 successfully and may incur a loss if the sale is not known until after the printing of the you will be requested to complete a scheme invoice, should notify the Post invoice and will not be separately identified.
at http://www.sothebys.com/en/invoice- arranging delivery. If you are bidding via an Textiles (excluding carpets and tapestries) is not successful. A third party providing auction catalogue, a pre-lot announcement Premium Lot pre-registration application. Sale Service Group or the Client Accounts (VAT-registered buyers from the EU
payment.html; (b) via the Sotheby’s App; (c) Online Platform, our shipping calculator is a guarantee jointly with Sotheby’s may You must arrange for Sotheby’s to receive Department on the day of the live auction should note that the import VAT charged
by calling Post Sale Services at +44 (0)20 available to help you determine the delivery EU LICENCE THRESHOLD: £44,236 provide an irrevocable bid, or otherwise will be made indicating that interested your pre-registration application at least and an invoice with VAT on the hammer on property released in the UK cannot
charges in relation to the item of property on
parties may be bidding on the lot.
7293 5220; or (d) in person at Sotheby’s Paintings in oil or tempera bid, on the guaranteed property. If the three working days before the sale. Please price will be raised. Buyers requiring be cancelled or refunded by Sotheby’s,
premises in London. which you wish to bid. Guaranteed Property symbol for a lot (□) No Reserve bear in mind that we are unable to obtain re-invoicing under the normal VAT rules however you may be able to seek
For further assistance please contact: Post EU LICENCE THRESHOLD: £132,708 Unless indicated by a box (﹤), all lots financial references over weekends or subsequent to a margin scheme invoice repayment) by applying to HM Revenue
We reserve the right to seek identification Sale Services (Mon-Fri 9am to 5pm) Tel is not included in the printing of the included in this sale are offered subject public holidays. Sotheby’s decision whether having been raised should contact the Client
of the source of funds received. Watercolours, gouaches and pastels auction catalogue, a pre-sale or pre-lot to accept any pre-registration application Accounts Department for assistance. and Customs - see ‘VAT Refunds from HM
+44 (0)20 7293 5220 Fax +44 (0)20 7293 announcement will be made indicating that to a reserve. A reserve is the confidential Revenue and Customs’)
New Clients If you have opened a new 5910 Email: ukpostsaleservices@sothebys. EU LICENCE THRESHOLD: £26,542 there is a guarantee on the lot. If every lot in hammer price established between shall be final. If your application is accepted,
account with Sotheby’s since 1 December com Prints, Engravings, Drawings and Mosaics a catalogue is -guaranteed, the Important Sotheby’s and the seller and below which a you will be provided with a special paddle 2. PROPERTY WITH A † SYMBOL (VAT-registered buyers from the UK should
2002, and have not already provided Notices in the sale catalogue will so state lot will not be sold. The reserve is generally number. If all lots in the catalogue are These items will be sold under the normal note that the invoice issued by Sotheby’s
appropriate identification, you will be asked We will send you a quotation for shipping EU LICENCE THRESHOLD: £13,271 and this symbol will not be used for each lot. set at a percentage of the low estimate “Premium Lots”, a Special Notice will be UK VAT rules and VAT will be charged at the for these items is not suitable evidence in
to present documentation confirming your purchase(s). Transit risk insurance There are separate thresholds for exporting and will not exceed the low estimate for included to this effect and this symbol will standard rate on the hammer price, buyer’s respect of import VAT.)
your identity before your property or sale may also be included in your quotation. If within the European Community. A UK △ Property in which Sotheby’s has an the lot. Where a lot is offered “without not be used. premium and overhead premium. On request, immediately after sale, the
the quotation is accepted, we will arrange
proceeds can be released to you. We Licence will be required for most items over Ownership Interest reserve” absentee bids will be executed at a Please refer to VAT information for Buyers Temporary Admission Department can
may also contact you to request a bank the shipping for you and will despatch the 50 years of age with a value of over £65,000. Lots with this symbol indicate that minimum of 10% of the low estimate. If any for VAT symbols used in this sale. Value Please see ‘Exports from the European either ask HM Revenue and Customs to
reference. Please provide government property as soon as possible after receiving Some exceptions are listed below:- Sotheby’s owns the lot in whole or in part lots included in a sale are offered without a Added Tax (VAT) may be payable on the Union’ for the conditions to be fulfilled generate a C79 certificate (for UK buyers),
issued photographic identification such as your written agreement to the terms of or has an economic interest in the lot reserve, these lots are indicated by a box ( hammer price and/or the buyer’s premium before the VAT charged on the hammer or obtain a copy of the import C88 (for
the quotation, financial release of the
a passport, identity card or driver’s licence UK Licence Thresholds equivalent to an ownership interest. ﹤). If all lots included in a sale are offered and overhead premium. Buyer’s premium price may be cancelled or refunded. other EU VAT registered buyers), which
and confirm your permanent address. property and receipt of any export licence or without a reserve, a Special Notice will be and overhead premium may attract a (VAT-registered buyers from other EU may be used to claim recovery of the VAT.
certificates that may be required. Despatch Photographic positive or negative or ⋑ Irrevocable Bids included to this effect and the box symbol
The Conditions of Business require buyers will be arranged at the buyer’s expense. any assemblage of such photographs Lots with this symbol indicate that a party will not be used for each lot. charge in lieu of VAT. Please read carefully countries may have the VAT cancelled or Otherwise Sotheby’s may re-invoice the lot
to pay immediately for their purchases. Sotheby’s may charge an administrative fee UK LICENCE THRESHOLD: £10,000 has provided Sotheby’s with an irrevocable the “VAT INFORMATION FOR BUYERS” refunded if they provide Sotheby’s with their as if it had been sold with a † symbol and
However, in limited circumstances and with for arranging the despatch. bid on the lot that will be executed during ⊕ Property Subject to the Artist’s Resale printed below. VAT registration number and evidence that charge VAT at the standard rate on both the
the seller’s agreement, Sotheby’s may grant Textiles (excluding carpets and tapestries) the sale at a value that ensures that the lot Right the property has been removed from the UK hammer price and premium and provide a
buyers it deems creditworthy the option of All shipments should be unpacked and will sell. The irrevocable bidder, who may Purchase of lots marked with this symbol ( VAT AND OTHER TAX within three months of the date of sale. The tax invoice to the buyer. This may enable a
checked on delivery and any discrepancies UK LICENCE THRESHOLD: £12,000 evidence of removal required is a certificate buyer who is VAT registered elsewhere in the
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