Page 120 - Ming Porcelain Sothebys march 2018

118 SOTHEBY’S NEW YORK 20 MARCH 2018 MING: LUMINOUS DAWN OF EMPIRE

6.#Bidding!We reserve the right to reject not pass until Sotheby’s has received the payment made by the purchaser to us or any
CONDITIONS OF SALE any bid. The highest bidder acknowledged full purchase price in cleared funds. The a! liated company, whether or not intended
by the auctioneer will be the purchaser. The purchaser’s obligation to immediately pay to reduce the purchaser’s obligations with
The following Conditions of Sale and Terms auctioneer has absolute and sole discretion the full purchase price or such part as we respect to the unpaid lot or lots, to the
of Guarantee are Sotheby’s, Inc. and the in the case of error or dispute with respect may require is absolute and unconditional de" ciency and any other amounts due to
Consignor’s entire agreement with the to bidding, and whether during or after the and is not subject to any defenses, seto$ s us or any a! liated companies. In addition, a
purchaser and any bidders relative to the sale, to determine the successful bidder, to or counterclaims of any kind whatsoever. defaulting purchaser will be deemed to have
property listed in this catalogue. re-open the bidding, to cancel the sale or Sotheby’s is not obligated to release a lot granted and assigned to us and our a! liated
The Conditions of Sale, Terms of to re-o$ er and re-sell the item in dispute. If to the purchaser until title to the lot has companies, a continuing security interest of
Guarantee, the glossary, if any, and all other any dispute arises after the sale, our sale passed and any earlier release does not " rst priority in any property or money of or
contents of this catalogue are subject to record is conclusive. In our discretion we will a$ ect the passing of title or the purchaser’s owing to such purchaser in our possession,
amendment by us by the posting of notices or execute order or absentee bids and accept unconditional obligation to pay the full custody or control or in the possession,
by oral announcements made during the sale. telephone bids and online bids via BIDnow, purchase price. In addition to other remedies custody or control of any of our a! liated
The property will be o" ered by us as agent for eBay, Invaluable or other online platforms as available to us by law, we reserve the right to companies, in each case whether at the time
the Consignor, unless the catalogue indicates a convenience to clients who are not present impose from the date of sale a late charge of of the auction, the default or if acquired at
otherwise. at auctions; Sotheby’s is not responsible the annual percentage rate of Prime + 6% any time thereafter, and we may retain and
By partici pating in any sale, you for any errors or omissions in connection of the total purchase price if payment is not apply such property or money as collateral
acknowledge that you are bound by these there with. Prospective bidders should also made in accordance with the conditions set security for the obligations due to us or to
terms and conditions. consult sothebys.com for the most up to date forth herein. Please note Sotheby’s reserves any a! liated company of ours. We shall have
cataloguing of the property in this catalogue. the right to refuse to accept payment from a all of the rights accorded a secured party
1.#As Is#Goods auctioned are often of some By participating in the sale, you represent source other than the buyer of record. under the New York Uniform Commercial
age. The authenticity of the Authorship and warrant that any bids placed by you, or Unless otherwise agreed by Sotheby’s, Code. You hereby agree that Sotheby’s may
(as de" ned below) of property listed in on your behalf, are not the product of any all property must be removed from our " le " nancing statements under the New
the catalogue is guaranteed as stated in collusive or other anti-competitive agreement premises by the purchaser at his expense York Uniform Commercial Code without
the Terms of Guarantee and except for and are otherwise consistent with federal and not later than 30 calendar days following its your signature. Payment will not be deemed
the Limited Warranty contained therein, state antitrust law. sale. Purchasers are reminded that Sotheby’s to have been made in full until we have
all property is sold “AS IS” without any In order to bid on “Premium Lots” you liability for loss of or damage to sold property collected good funds. Any claims relating to
representations or warranties by us or the must complete the required Premium Lot shall cease upon the earlier of (a) 30 calendar any purchase, including any claims under the
Consignor as to merchantability, " tness pre-registra tion application. Sotheby’s days after the date of the auction and (b) our Conditions of Sale or Terms of Guarantee,
for a particular purpose, the correctness decision whether to accept any pre- release of the property to the purchaser or must be presented directly to Sotheby’s.
of the catalogue or other description of registration application shall be " nal. You the purchaser’s designated agent. Upon the In the event the purchaser fails to pay any
the physical condition, size, quality, rarity, must arrange for Sotheby’s to receive your expiration of such 30 calendar day period or or all of the total purchase price for any lot
importance, medium, frame, provenance, pre-registration application at least three upon such earlier release, as applicable: (i) and Sotheby’s nonetheless elects to pay the
exhibitions, literature or historical relevance working days before the sale. Please bear in the purchaser bears full liability for any and Consignor any portion of the sale proceeds,
of any property and no statement anywhere, mind that we are unable to obtain " nancial all loss of or damage to the property; (ii) the the purchaser acknowledges that Sotheby’s
whether oral or written, whether made in the references over weekends or public holidays. purchaser releases Sotheby’s, its a! liates, shall have all of the rights of the Consignor to
catalogue, an advertisement, a bill of sale, Sotheby’s may require such necessary agents and warehouses from any and all pursue the purchaser for any amounts paid
a salesroom posting or announcement, or " nancial references, guarantees, deposits liability and claims for loss of or damage to to the Consignor, whether at law, in equity, or
elsewhere, shall be deemed such a warranty, and/or such other security, in its absolute the property; and (iii) the purchaser agrees under these Conditions of Sale.
representation or assumption of liability. We discretion, as security for your bid(s). to indemnify and hold Sotheby’s, its a! liates,
and the Consignor make no representations agents and warehouses harmless from 10.#Reserve!All lots in this catalogue are
and warranties, express or implied, as 7.#Online Bids via BIDnow or other Online and against any and all liability for loss of or o$ ered subject to a reserve, which is the
to whether the purchaser acquires any Platforms: Sotheby’s may o$ er clients damage to property and any all claims related con" dential minimum hammer price at which
copyrights, including but not limited to, any the opportunity to bid online via BIDnow, to loss of or damage to the property as of and a lot will be sold. No reserve will exceed the
reproduction rights in any property. We and eBay, Invaluable or other Online Platforms from and after the time Sotheby’s liability low presale estimate stated in the catalogue,
the Consignor are not responsible for errors for selected sales. By participating in a for loss or damage to the property ceases or as amended by oral or posted notices. We
and omissions in the catalogue, glossary, or sale via any of these Online Platforms, you in accordance with this paragraph. If any may implement such reserve by opening
any supplemental material. Sotheby’s will not acknowledge that you are bound by these applicable conditions herein are not complied the bidding on behalf of the Consignor and
be responsible or liable for damage to frames Conditions of Sale as well as the Additional with by the purchaser, the purchaser will be may bid up to the amount of the reserve, by
and glass coverings, regardless of the cause. Terms and Conditions for Live Online Bidding in default and in addition to any and all other placing successive or consecutive bids for
(“Online Terms”). By participating in a sale remedies available to us and the Consignor a lot, or bids in response to other bidders. In
2.#Inspection!Prospective bidders should via any Online Platform, Bidders accept by law, including, without limitation, the right instances where we have an interest in the lot
inspect the property before bidding to the Online Terms, as well as the relevant to hold the purchaser liable for the total other than our commission, we may bid up to
determine its condition, size, and whether or Conditions of Sale. Online bidding may not be purchase price, including all fees, charges the reserve to protect such interest. In certain
not it has been repaired or restored. available for Premium Lots. and expenses more fully set forth herein, instances, the Consignor may pay us less
we, at our option, may (x) cancel the sale than the standard commission rate where a
3.#Buyer’s Premium!A buyer’s premium will 8.#Bids Below Reserve!If the auctioneer of that, or any other lot or lots sold to the lot is “bought-in” to protect its reserve.
be added to the hammer price and is payable deter mines that any opening bid is below the defaulting purchaser at the same or any other
by the purchaser as part of the total purchase reserve of the article o$ ered, he may reject auction, retaining as liquidated damages 11.#Tax!Unless exempted by law, the
price. The buyer’s premium is 25% of the the same and withdraw the article from sale, all payments made by the purchaser, or (y) purchaser will be required to pay the
hammer price up to and including $300,000, and if, having acknowledged an opening bid, resell the purchased property, whether at combined New York State and local sales
20% of any amount in excess of $300,000 up he deter mines that any advance thereafter is public auction or by private sale, or (z) e$ ect tax, any applicable compensating use tax of
to and including $3,000,000, and 12.9% of insu! cient, he may reject the advance. any combination thereof. In any case, the another state, and if applicable, any federal
any amount in excess of $3,000,000. purchaser will be liable for any de" ciency, any luxury or other tax, on the total purchase
9.#Purchaser’s Responsibility!Subject and all costs, handling charges, late charges, price. The rate of such combined tax is
4.#Withdrawal!We reserve the right to to ful" ll ment of all of the conditions set expenses of both sales, our com missions 8.875% in New York City and ranges from 7%
withdraw any property before the sale and forth herein, on the fall of the auctioneer’s on both sales at our regular rates, legal fees to 8.625% elsewhere in New York.
shall have no liability whatsoever for such hammer, the contract between the consignor and expenses, collection fees and incidental
withdrawal. and the purchaser is concluded, and the damages. We may, in our sole discretion, 12.#Export and Permits!It is the purchaser’s
winning bidder thereupon will immediately apply any proceeds of sale then due or sole responsibility to identify and obtain
5.#Per Lot!Unless otherwise announced pay the full purchase price or such part as thereafter becoming due to the purchaser any necessary export, import, " rearm,
by the auctioneer, all bids are per lot as we may require. Title in a purchased lot will from us or any a! liated company, or any endangered species or other permit for
numbered in the catalogue.