Page 279 - Fine Japanese Art Bonhams London May 2018

APPENDIX 2 3 PAYMENT 4.4 If you have not collected the Lot by the date 7 FAILURE TO PAY OR TO REMOVE THE LOT 7.3 If you pay us only part of the sums due to us such 9.3 Paragraph 9 will not apply in respect of a Forgery if:
specified in the Notice to Bidders, you authorise us, AND PART PAYMENTS payment shall be applied firstly to the Purchase Price
BUYER’S AGREEMENT 3.1 Unless agreed in writing between you and us or as acting as your agent and on your behalf, to enter of the Lot (or where you have purchased more than 9.3.1 the Entry in relation to the Lot contained in the
otherwise set out in the Notice to Bidders, you must into a contract (the “Storage Contract”) with the 7.1 If all sums payable to us are not so paid in full at one Lot pro-rata towards the Purchase Price of each Catalogue reflected the then accepted general
IMPORTANT: These terms may be changed in advance of pay to us by not later than 4.30pm on the second Storage Contractor for the storage of the Lot on the the time they are due and/or the Lot is not removed Lot) and secondly to the Buyer’s Premium (or where opinion of scholars and experts or fairly indicated
the Sale of the Lot to you, by the setting out of different terms working day following the Sale: then current standard terms and conditions agreed in accordance with this agreement, we will without you have purchased more than one Lot pro-rata to that there was a conflict of such opinion or reflected
in the Catalogue for the Sale and/or by placing an insert in the between Bonhams and the Storage Contractor further notice to you be entitled to exercise one or the Buyer’s Premium on each Lot) and thirdly to any the then current opinion of an expert acknowledged
Catalogue and/or by notices at the Sale venue and/or by oral 3.1.1 the Purchase Price for the Lot; (copies of which are available on request). If the Lot more of the following rights (without prejudice to any other sums due to us. to be a leading expert in the relevant field; or
announcements before and during the Sale at the Sale venue. is stored at our premises storage fees at our current rights we may exercise on behalf of the Seller):
You should be alert to this possibility of changes and ask in 3.1.2 a Buyer’s Premium in accordance with the rates set daily rates (currently a minimum of £3 plus VAT per 7.4 We will account to you in respect of any balance we 9.3.2 it can be established that the Lot is a Forgery only
advance of bidding if there have been any. out in the Notice to Bidders on each lot, and Lot per day) will be payable from the expiry of the 7.1.1 to terminate this agreement immediately for your hold remaining from any monies received by us in by means of a process not generally accepted for
period referred to in paragraph 4.2. These storage breach of contract; respect of any Sale of the Lot under our rights under use until after the date on which the Catalogue was
1 THE CONTRACT 3.1.3 if the Lot is marked [ AR ], an Additional Premium fees form part of our Expenses. this paragraph 7 after the payment of all sums due to published or by means of a process which it was
which is calculated and payable in accordance with 7.1.2 to retain possession of the Lot; us and/or the Seller within 28 days of receipt by us of unreasonable in all the circumstances for us to have
1.1 These terms govern the contract between Bonhams the Notice to Bidders together with VAT on that sum 4.5 Until you have paid the Purchase Price and any all such sums paid to us. employed.
personally and the Buyer, being the person to whom if applicable so that all sums due to us are cleared Expenses in full the Lot will either be held by us as 7.1.3 to remove, and/or store the Lot at your expense;
a Lot has been knocked down by the Auctioneer. funds by the seventh working day after the Sale. agent on behalf of the Seller or held by the Storage 8 CLAIMS BY OTHER PERSONS IN RESPECT 9.4 You authorise us to carry out such processes and
Contractor as agent on behalf of the Seller and 7.1.4 to take legal proceedings against you for payment OF THE LOT tests on the Lot as we in our absolute discretion
1.2 The Definitions and Glossary contained in Appendix 3.2 You must also pay us on demand any Expenses ourselves on the terms contained in the Storage of any sums payable to us by you (including the consider necessary to satisfy ourselves that the Lot
3 to the Catalogue for the Sale are incorporated payable pursuant to this agreement. Contract. Purchase Price) and/or damages for breach of 8.1 Whenever it becomes apparent to us that the Lot is is or is not a Forgery.
into this agreement and a separate copy can also contract; the subject of a claim by someone other than you
be provided by us on request. Where words and 3.3 All payments to us must be made in the currency 4.6 You undertake to comply with the terms of any and other than the Seller (or that such a claim can 9.5 If we are satisfied that a Lot is a Forgery we will (as
phrases which are defined in the List of Definitions in which the Sale was conducted, using, unless Storage Contract and in particular to pay the 7.1.5 to be paid interest on any monies due to us (after reasonably be expected to be made), we may, at our principal) purchase the Lot from you and you will
are used in this agreement, they are printed in italics. otherwise agreed by us in writing, one of the charges (and all costs of moving the Lot into storage) as well as before judgement or order) at the annual absolute discretion, deal with the Lot in any manner transfer the title to the Lot in question to us, with
Reference is made in this agreement to information methods of payment set out in the Notice to due under any Storage Contract. You acknowledge rate of 5% per annum above the base lending rate which appears to us to recognise the legitimate full title guarantee, free from any liens, charges,
printed in the Notice to Bidders, printed in the Bidders. Our invoices will only be addressed to the and agree that you will not be able to collect the Lot of National Westminster Bank Plc from time to time interests of ourselves and the other parties involved encumbrances and adverse claims, in accordance
Catalogue for the Sale, and where such information registered Bidder unless the Bidder is acting as an from the Storage Contractor’s premises until you to be calculated on a daily basis from the date upon and lawfully to protect our position and our legitimate with the provisions of Sections 12(1) and 12(2) of
is referred to it is incorporated into this agreement. agent for a named principal and we have approved have paid the Purchase Price, any Expenses and all which such monies become payable until the date of interests. Without prejudice to the generality of the the Sale of Goods Act 1979 and we will pay to you
that arrangement, in which case we will address the charges due under the Storage Contract. actual payment; discretion and by way of example, we may: an amount equal to the sum of the Purchase Price,
1.3 Except as specified in paragraph 4 of the Notice to invoice to the principal. Buyer’s Premium, VAT and Expenses paid by you in
Bidders the Contract for Sale of the Lot between you 4.7 You will be wholly responsible for packing, handling 7.1.6 to repossess the Lot (or any part thereof) which has 8.1.1 retain the Lot to investigate any question raised or respect of the Lot.
and the Seller is made on the fall of the Auctioneer’s 3.4 Unless otherwise stated in this agreement all and transport of the Lot on collection and for not become your property, and for this purpose reasonably expected by us to be raised in relation to
hammer in respect of the Lot, when it is knocked sums payable to us will be subject to VAT at the complying with all import or export regulations in (unless you buy the Lot as a Consumer) you hereby the Lot; and/or 9.6 The benefit of paragraph 9 is personal to, and
down to you. At that moment a separate contract is appropriate rate and VAT will be payable by you on connection with the Lot. grant an irrevocable licence to us, by ourselves, our incapable of assignment by, you.
also made between you and Bonhams on the terms all such sums. servants or agents, to enter upon all or any of your 8.1.2 deliver the Lot to a person other than you; and/or
in this Buyer’s Agreement. 4.8 You will be wholly responsible for any removal, premises (with or without vehicles) during normal 9.7 If you sell or otherwise dispose of your interest in the
3.5 We may deduct and retain for our own benefit from storage, or other charges for any Lot not removed business hours to take possession of any Lot or part 8.1.3 commence interpleader proceedings or seek any Lot, all rights and benefits under this paragraph will
1.4 We act as agents for the Seller and are not the monies paid by you to us the Buyer’s Premium, in accordance with paragraph 4.2, payable at our thereof; other order of any court, mediator, arbitrator or cease.
answerable or personally responsible to you for any the Commission payable by the Seller in respect current rates, and any Expenses we incur (including government body; and/or
breach of contract or other default by the Seller, of the Lot, any Expenses and VAT and any interest any charges due under the Storage Contract), all of 7.1.7 to sell the Lot Without Reserve by auction, private 9.8 Paragraph 9 does not apply to a Lot made up of or
unless Bonhams sells the Lot as principal. earned and/or incurred until payment to the Seller. which must be paid by you on demand and in any treaty or any other means on giving you three 8.1.4 require an indemnity and/or security from you in including a Chinese painting or Chinese paintings, a
event before any collection of the Lot by you or on months’ written notice of our intention to do so; return for pursuing a course of action agreed to by motor vehicle or motor vehicles, a Stamp or Stamps
1.5 Our personal obligations to you are governed by 3.6 Time will be of the essence in relation to any your behalf. you. or a Book or Books.
this agreement and we agree, subject to the terms payment payable to us. If you do not pay the 7.1.8 to retain possession of any of your other property in
below, to the following obligations: Purchase Price, or any other sum due to us in 5 STORING THE LOT our possession for any purpose (including, without 8.2 The discretion referred to in paragraph 8.1: 10 OUR LIABILITY
accordance with this paragraph 3, we will have the limitation, other goods sold to you or with us for Sale)
1.5.1 we will, until the date and time specified in the Notice rights set out in paragraph 7 below. We agree to store the Lot until the earlier of your until all sums due to us have been paid in full; 8.2.1 may be exercised at any time during which we have 10.1 We will not be liable whether in negligence, other
to Bidders or otherwise notified to you, store the Lot removal of the Lot or until the time and date set out actual or constructive possession of the Lot, or at tort, breach of contract or statutory duty or in
in accordance with paragraph 5; 3.7 Where a number of Lots have been knocked down in the Notice to Bidders, on the Sale Information 7.1.9 to apply any monies received from you for any any time after such possession, where the cessation restitution or under the Misrepresentation Act 1967
to you, any monies we receive from you will be Page or at the back of the catalogue (or if no date purpose whether at the time of your default or at any of such possession has occurred by reason of any or in any other way for lack of conformity with or
1.5.2 subject to any power of the Seller or us to refuse to applied firstly pro-rata to pay the Purchase Price of is specified, by 4.30pm on the seventh day after the time thereafter in payment or part payment of any decision, order or ruling of any court, mediator, any inaccuracy, error, misdescription or omission in
release the Lot to you, we will release the Lot to you each Lot and secondly pro-rata to pay all amounts Sale) and, subject to paragraphs 6 and 10, to be sums due to us by you under this agreement; arbitrator or government body; and any Description of the Lot or any Entry or Estimate
in accordance with paragraph 4 once you have paid due to Bonhams. responsible as bailee to you for damage to or the in respect of it, made by us or on our behalf or by
to us, in cleared funds, everything due to us and the loss or destruction of the Lot (notwithstanding that it 7.1.10 on three months’ written notice to sell, Without 8.2.2 will not be exercised unless we believe that there or on behalf of the Seller (whether made in writing,
Seller; 4 COLLECTION OF THE LOT is not your property before payment of the Purchase Reserve, any of your other property in our exists a serious prospect of a good arguable case in including in the Catalogue, or on the Bonhams’
Price). If you do not collect the Lot before the time possession or under our control for any purpose favour of the claim. Website, or orally, or by conduct or otherwise) and
1.5.3 we will provide guarantees in the terms set out in 4.1 Subject to any power of the Seller or us to refuse and date set out in the Notice to Bidders (or if no (including other goods sold to you or with us for whether made before or after this agreement or prior
paragraphs 9 and 10. to release the Lot to you, once you have paid to us, date is specified, by 4.30pm on the seventh day Sale) and to apply any monies due to you as a result 9 FORGERIES to or during the Sale.
in cleared funds, everything due to the Seller and after the Sale) we may remove the Lot to another of such Sale in payment or part payment of any
1.6 We do not make or give and do not agree to make to us, we will release the Lot to you or as you may location, the details of which will usually be set out amounts owed to us; 9.1 We undertake a personal responsibility for any 10.2 Our duty to you while the Lot is at your risk and/or
or give any contractual promise, undertaking, direct us in writing. The Lot will only be released on in the relevant section of the Catalogue. If you have Forgery in accordance with the terms of this your property and in our custody and/or control is to
obligation, Guarantee, warranty, representation of production of a buyer collection document, obtained not paid for the Lot in accordance with paragraph 3, 7.1.11 refuse to allow you to register for a future Sale or to paragraph 9. exercise reasonable care in relation to it, but we will
fact in relation to any Description of the Lot or any from our cashier’s office. and the Lot is moved to any third party’s premises, reject a bid from you at any future Sale or to require not be responsible for damage to the Lot or to other
Estimate in relation to it, nor of the accuracy or the Lot will be held by such third party strictly to you to pay a deposit before any bid is accepted by 9.2 Paragraph 9 applies only if: persons or things caused by:
completeness of any Description or Estimate which 4.2 You must collect and remove the Lot at your own Bonhams’ order and we will retain our lien over the us at any future Sale in which case we will be entitled
may have been made by us or on our behalf or by expense by the date and time specified in the Notice Lot until we have been paid in full in accordance with to apply such deposit in payment or part payment, 9.2.1 your name appears as the named person to whom 10.2.1 handling the Lot if it was affected at the time of Sale
or on behalf of the Seller (whether made orally or in to Bidders, or if no date is specified, by 4.30pm on paragraph 3. as the case may be, of the Purchase Price of any Lot the original invoice was made out by us in respect of to you by woodworm and any damage is caused as
writing, including in the Catalogue or on Bonhams’ the seventh day after the Sale. of which you are the Buyer. the Lot and that invoice has been paid; and a result of it being affected by woodworm; or
Website, or by conduct, or otherwise), and whether 6 RESPONSIBILITY FOR THE LOT
made before or after this agreement or prior to or 4.3 For the period referred to in paragraph 4.2, the Lot 7.2 You agree to indemnify us against all legal and other 9.2.2 you notify us in writing as soon as reasonably 10.2.2 changes in atmospheric pressure; nor will we be
during the Sale. No such Description or Estimate is can be collected from the address referred to in the 6.1 Only on the payment of the Purchase Price to us costs, all losses and all other Expenses (whether or practicable after you have become aware that the liable for:
incorporated into this agreement between you and Notice to Bidders for collection on the days and will title in the Lot pass to you. However under the not court proceedings will have been issued) incurred Lot is or may be a Forgery, and in any event within
us. Any such Description or Estimate, if made by us times specified in the Notice to Bidders. Thereafter, Contract for Sale, the risk in the Lot passed to you by us as a result of our taking steps under this one year after the Sale, that the Lot is a Forgery; and 10.2.3 damage to tension stringed musical instruments; or
or on our behalf, was (unless Bonhams itself sells the Lot may be removed elsewhere for storage and when it was knocked down to you. paragraph 7 on a full indemnity basis together with
the Lot as principal) made as agent on behalf of the you must enquire from us as to when and where you interest thereon (after as well as before judgement or 9.2.3 within one month after such notification has been 10.2.4 damage to gilded picture frames, plaster picture
Seller. can collect it, although this information will usually be 6.2 You are advised to obtain insurance in respect of the order) at the rate specified in paragraph 7.1.5 from given, you return the Lot to us in the same condition frames or picture frame glass; and if the Lot is or
set out in the Notice to Bidders. Lot as soon as possible after the Sale. the date upon which we become liable to pay the as it was at the time of the Sale, accompanied by becomes dangerous, we may dispose of it without
2 PERFORMANCE OF THE CONTRACT FOR same until payment by you. written evidence that the Lot is a Forgery and details notice to you in advance in any manner we think fit
SALE of the Sale and Lot number sufficient to identify the and we will be under no liability to you for doing so.
Lot.
You undertake to us personally that you will
observe and comply with all your obligations and
undertakings to the Seller under the Contract for
Sale in respect of the Lot.
NTB/MAIN/1.2018/V2 NTB/MAIN/1.2018/V2