Page 192 - Sothebys Fine Chinese Art London, November 2018

VAT Overseas Repayments Unit (v) in respect of online bidding via the provided to it by the Seller, and Sotheby’s (b) In the light of the matters in Condition 3
internet, the BidNOWConditions on the is not able to and does not carry out above and subject to Conditions 4(a) and

PO Box 34, Foyle House
Sotheby’s website, exhaustive due diligence on each lot. 4(e), neither any Sotheby’s Company nor
Duncreggan Road, Londonderry Bidders acknowledge this fact and accept the Seller:
in each case as amended by any saleroom
Northern Ireland, BT48 7AE notice or auctioneer’s announcement at responsibility for carrying out inspections (i) is liable for any errors or omissions
and investigations to satisfy themselves as
the auction. in information provided to Bidders by
Tel: +44 (0)2871 305100 to the lots in which they may be interested. Sotheby’s (or any Sotheby’s Company),
(b) As auctioneer, Sotheby’s acts as agent
Fax: +44 (0)2871 305101 (b) Each lot offered for sale at Sotheby’s whether orally or in writing, whether
for the Seller. A sale contract is made
enq.oru.ni@hmrc.gsi.gov.uk directly between the Seller and the Buyer. is available for inspection by Bidders prior negligent or otherwise, except as set out in
However, Sotheby’s may own a lot (and to the sale. Sotheby’s accepts bids on Condition 3(f) above;
8. SALES AND USE TAXES in such circumstances acts in a principal lots solely on the basis that Bidders (and (ii) gives any guarantee or warranty to
Buyers should note that local sales capacity as Seller) and/or may have a legal, independent experts on their behalf, to Bidders and any implied warranties and
the extent appropriate given the nature
taxes or use taxes may become payable beneficial or financial interest in a lot as a and value of the lot and the Bidder’s own conditions are excluded (save in so far as
upon import of items following purchase secured creditor or otherwise. expertise) have fully inspected the lot prior such obligations cannot be excluded by law)
(for example, use tax may be due when 2. COMMON TERMS to bidding and have satisfied themselves other than the express warranties given by
purchased items are imported into certain as to both the condition of the lot and the the Seller to the Buyer in Condition 2 of the
states in the US). Buyers should obtain their In these Conditions of Business: accuracy of its description. Sellers’ Conditions of Business;
own advice in this regard.
“Bidder” is any person considering, making (c) Bidders acknowledge that many lots (iii) accepts responsibility to any Bidders
In the event that Sotheby’s ships items for a or attempting to make a bid, by whatever are of an age and type which means that in respect of acts or omissions (whether
purchaser in this sale to a destination within means, and includes Buyers; they are not in perfect condition. All lots are negligent or otherwise) by Sotheby’s in
a US state in which Sotheby’s is registered “Buyer” is the person who makes the offered for sale in the condition they are in connection with the conduct of auctions or
to collect sales tax, Sotheby’s is obliged to highest bid or offer accepted by the at the time of the auction (whether or not for any matter relating to the sale of any lot.
collect and remit the respective state’s sales auctioneer, and includes such person’s Bidders are in attendance at the auction). (c) Unless Sotheby’s owns a lot offered for
/ use tax in effect on the total purchase price principal when bidding as agent; Condition reports may be available to sale, it is not responsible for any breach of
(including hammer price, buyer’s premium, assist when inspecting lots. Catalogue these conditions by the Seller.
shipping costs and insurance) of such “Buyer’s Expenses” are any costs or descriptions and condition reports may
items, regardless of the country in which expenses due to Sotheby’s from the Buyer on occasions make reference to particular (d) Without prejudice to Condition 4(b), any
the purchaser resides or is a citizen. Where and any Artist’s Resale Right levy payable in imperfections of a lot, but Bidders should claim against Sotheby’s or the Seller by a
the purchaser has provided Sotheby’s with respect of the sale of the Property, including note that lots may have other faults not Bidder is limited to the Purchase Price with
a valid Resale Exemption Certificate prior an amount in respect of any applicable VAT expressly referred to in the catalogue regard to that lot. Neither Sotheby’s nor
to the release of the property, sales / use thereon; or condition report. Illustrations are for the Seller shall under any circumstances be
tax will not be charged. Clients who wish to “Buyer’s Premium” is the commission identification purposes only and will not liable for any consequential losses.
provide resale or exemption documentation payable by the Buyer on the Hammer Price convey full information as to the actual (e) None of this Condition 4 shall exclude
for their purchases should contact Post Sale at the rates set out in the guide to Buying condition of lots. or limit Sotheby’s liability in respect of
Services.
at Auction plus any applicable VAT or an (d) Information provided to Bidders in any fraudulent misrepresentation made
Clients who wish to have their purchased amount in lieu of VAT; respect of any lot, including any estimate, by Sotheby’s or the Seller, or in respect
lots shipped to the US by Sotheby’s are whether written or oral and including of death or personal injury caused by the
advised to contact the Post Sale Manager “Counterfeit” is as defined in Sotheby’s information in any catalogue, condition or negligent acts or omissions of Sotheby’s or
Authenticity Guarantee;
listed in the front of this catalogue before other report, commentary or valuation, the Seller.
arranging shipping. “Hammer Price” is the highest bid is not a representation of fact but rather 5. BIDDING AT AUCTION
accepted by the auctioneer by the fall is a statement of opinion genuinely held
of the hammer, (in the case of wine, as by Sotheby’s. Any estimate may not be (a) Sotheby’s has absolute discretion to
CONDITIONS OF BUSINESS apportioned pro-rata by reference to the relied on as a prediction of the selling price refuse admission to the auction. Bidders
FOR BUYERS number of separately identified items in that or value of the lot and may be revised must complete a Paddle Registration Form
lot), or in the case of a post-auction sale, the and supply such information and references
The nature of the relationship between agreed sale price; from time to time in Sotheby’s absolute as required by Sotheby’s. Bidders act as
Sotheby’s, Sellers and Bidders and the discretion. principal unless they have Sotheby’s prior
terms on which Sotheby’s (as auctioneer) “Purchase Price” is the Hammer Price and (e) No representations or warranties are written consent to bid as agent for another
and Sellers contract with Bidders are set applicable Buyer’s Premium and VAT; made by Sotheby’s or the Seller as to party. Bidders are personally liable for their
out below. “Reserve” is the (confidential) minimum whether any lot is subject to copyright or bid and are jointly and severally liable with
Bidders’ attention is specifically drawn to Hammer Price at which the Seller has whether the Buyer acquires copyright in their principal if bidding as agent.
Conditions 3 and 4 below, which require agreed to sell a lot; any lot. (b) Sotheby’s advises Bidders to attend
them to investigate lots prior to bidding “Seller” is the person offering a lot for (f) Subject to the matters referred to at 3(a) the auction but will seek to carry out
and which contain specific limitations and sale (including their agent (other than to 3(e) above and to the specific exclusions absentee written bids which are in pounds
exclusions of the legal liability of Sotheby’s Sotheby’s), executors or personal contained at Condition 4 below, Sotheby’s sterling and, in Sotheby’s opinion, clear and
and Sellers. The limitations and exclusions representatives); shall exercise such reasonable care when received sufficiently in advance of the sale
relating to Sotheby’s are consistent with making express statements in catalogue of the lot, endeavouring to ensure that the
its role as auctioneer of large quantities of “Sotheby’s” means Sotheby’s, the descriptions or condition reports as is first received of identical written bids has
goods of a wide variety and Bidders should unlimited company which has its registered consistent with its role as auctioneer of lots priority.
pay particular attention to these Conditions. office at 34-35 New Bond Street, London in the sale to which these Conditions relate,
W1A 2AA; and in the light of: (c) Where available, written, telephone
1. INTRODUCTION and online bids are offered as an additional
“Sotheby’s Company” means both (i) the information provided to it by the
(a) Sotheby’s and Sellers’ contractual Sotheby’s in the USA and any of its Seller; service for no extra charge, at the
relationship with prospective Buyers is subsidiaries (including Sotheby’s in Bidder’s risk and shall be undertaken with
reasonable care subject to Sotheby’s other
governed by: London) and Sotheby’s Diamonds SA and (ii) scholarship and technical knowledge;
its subsidiaries (in each case “subsidiary” and commitments at the time of the auction;
(i) these Conditions of Business; Sotheby’s therefore cannot accept liability
having the meaning of Section 1159 of (iii) the generally accepted opinions of
(ii) the Conditions of Business for Sellers the Companies Act 2006); relevant experts, in each case at the time for failure to place such bids save where
such failure is unreasonable. Telephone
displayed in the saleroom and which are any such express statement is made.
available upon request from Sotheby’s UK “VAT” is Value Added Tax at the prevailing and online bids may be recorded. Online
bids (“BidNOW”) are made subject to
rate. Further information is contained in the
salerooms or by telephoning +44 (0)20 4. EXCLUSIONS AND LIMITATIONS
7293 6482; guide to Buying at Auction. OF LIABILITY TO BUYERS the BidNOW Conditions available on the
Sotheby’s website or upon request. The
(iii) Sotheby’s Authenticity Guarantee as 3. DUTIES OF BIDDERS AND (a) Sotheby’s shall refund the Purchase BidNOW Conditions apply in relation to
OF SOTHEBY’S IN RESPECT
printed in the sale catalogue; Price to the Buyer in circumstances where online bids, in addition to these Conditions
OF ITEMS FOR SALE it deems that the lot is a Counterfeit and
(iv) any additional notices and terms printed (a) Sotheby’s knowledge in relation to each each of the conditions of the Authenticity of Business.
in the sale catalogue, including the guide to lot is partially dependent on information Guarantee has been satisfied.
Buying at Auction; and
190 SOTHEBY’S