Page 197 - 2019 September 10th Sotheby's Important Chinese Art Junkunc Collection

6. Bidding We reserve the right to reject 7. Online Bids via BIDnow or other Online agents and warehouses harmless from
CONDITIONS OF SALE any bid. The highest bidder acknowledged Platforms: Sotheby’s may offer clients and against any and all liability for loss of
by the auctioneer will be the purchaser. The the opportunity to bid online via BIDnow, or damage to property and any all claims
The following Conditions of Sale and Terms auctioneer has absolute and sole discretion eBay, Invaluable or other Online Platforms related to loss of or damage to the property
of Guarantee are Sotheby’s, Inc. and the in the case of error or dispute with respect for selected sales. By participating in a as of and from and after the time Sotheby’s
Consignor’s entire agreement with the to bidding, and whether during or after the sale via any of these Online Platforms, you liability for loss or damage to the property
purchaser and any bidders relative to the sale, to determine the successful bidder, to acknowledge that you are bound by these ceases in accordance with this paragraph.
property listed in this catalogue. re-open the bidding, to cancel the sale or Conditions of Sale as well as the Additional If any applicable conditions herein are
The Conditions of Sale, Terms of to re-offer and re-sell the item in dispute. If Terms and Conditions for Live Online Bidding not complied with by the purchaser, the
Guarantee, the glossary, if any, and all other any dispute arises after the sale, our sale (“Online Terms”). By participating in a sale purchaser will be in default and in addition
contents of this catalogue are subject to record is conclusive. In our discretion we will via any Online Platform, Bidders accept to any and all other remedies available to us
amendment by us by the posting of notices execute order or absentee bids and accept the Online Terms, as well as the relevant and the Consignor by law, including, without
or by oral announcements made during the telephone bids and online bids via BIDnow, Conditions of Sale. Online bidding may not be limitation, the right to hold the purchaser
sale. The property will be offered by us as eBay, Invaluable or other online platforms as available for Premium Lots. liable for the total purchase price, including
agent for the Consignor, unless the catalogue a convenience to clients who are not present all fees, charges and expenses more fully
indicates otherwise. at auctions; Sotheby’s is not responsible for 8. Bids Below Reserve If the auctioneer set forth herein, we, at our option, may (x)
By partici pating in any sale, you any errors or omissions in connection there- deter mines that any opening bid is below the cancel the sale of that, or any other lot or
acknowledge that you are bound by these with. Prospective bidders should also consult reserve of the article offered, he may reject lots sold to the defaulting purchaser at the
terms and conditions. sothebys.com for the most up to date the same and withdraw the article from sale, same or any other auction, retaining as
cataloguing of the property in this catalogue. and if, having acknowledged an opening bid, liquidated damages all payments made by
1. As Is Goods auctioned are often of some By participating in the sale, you represent he deter mines that any advance thereafter is the purchaser, or (y) resell the purchased
age. The authenticity of the Authorship and warrant that any bids placed by you, insufficient, he may reject the advance. property, whether at public auction or by
(as defined below) of property listed in or on your behalf, are not the product of private sale, or (z) effect any combination
the catalogue is guaranteed as stated in any collusive or other anti-competitive 9. Purchaser’s Responsibility Subject thereof. In any case, the purchaser will be
the Terms of Guarantee and except for agreement and are otherwise consistent with to fulfill ment of all of the conditions set liable for any deficiency, any and all costs,
the Limited Warranty contained therein, federal and state antitrust law. forth herein, on the fall of the auctioneer’s handling charges, late charges, expenses
all property is sold “AS IS” without any By participating in the sale, you represent hammer, the contract between the consignor of both sales, our com missions on both
representations or warranties by us or the and warrant that: and the purchaser is concluded, and the sales at our regular rates, legal fees and
Consignor as to merchantability, fitness (a) The bidder and/or purchaser is not winning bidder thereupon will immediately expenses, collection fees and incidental
for a particular purpose, the correctness subject to trade sanctions, embargoes pay the full purchase price or such part as damages. We may, in our sole discretion,
of the catalogue or other description of or any other restriction on trade in the we may require. Title in a purchased lot will apply any proceeds of sale then due or
the physical condition, size, quality, rarity, jurisdiction in which it does business as well not pass until Sotheby’s has received the thereafter becoming due to the purchaser
importance, medium, frame, provenance, as under the laws of the European Union, full purchase price in cleared funds. The from us or any affiliated company, or any
exhibitions, literature or historical relevance the laws of England and Wales, or the laws purchaser’s obligation to immediately pay payment made by the purchaser to us or any
of any property and no statement anywhere, and regulations of the United States, and is the full purchase price or such part as we affiliated company, whether or not intended
whether oral or written, whether made in the not owned (nor partly owned) or controlled may require is absolute and unconditional to reduce the purchaser’s obligations with
catalogue, an advertisement, a bill of sale, by such sanctioned person(s) (collectively, and is not subject to any defenses, setoffs respect to the unpaid lot or lots, to the
a salesroom posting or announcement, or “Sanctioned Person(s)”); or counterclaims of any kind whatsoever. deficiency and any other amounts due to
elsewhere, shall be deemed such a warranty, (b) Where acting as agent (with Sotheby’s Sotheby’s is not obligated to release a lot us or any affiliated companies. In addition, a
representation or assumption of liability. We prior written consent), the principal is not to the purchaser until title to the lot has defaulting purchaser will be deemed to have
and the Consignor make no representations a Sanctioned Person(s) nor owned (or passed and any earlier release does not granted and assigned to us and our affiliated
and warranties, express or implied, as partly owned) or controlled by Sanctioned affect the passing of title or the purchaser’s companies, a continuing security interest of
to whether the purchaser acquires any Person(s); and unconditional obligation to pay the full first priority in any property or money of or
copyrights, including but not limited to, any (c) The bidder and/or purchaser purchase price. In addition to other remedies owing to such purchaser in our possession,
reproduction rights in any property. We and undertakes that none of the purchase price available to us by law, we reserve the right to custody or control or in the possession,
the Consignor are not responsible for errors will be funded by any Sanctioned Person(s), impose from the date of sale a late charge of custody or control of any of our affiliated
and omissions in the catalogue, glossary, or nor will any party be involved in the the annual percentage rate of Prime + 6% companies, in each case whether at the time
any supplemental material. Sotheby’s will not transaction including financial institutions, of the total purchase price if payment is not of the auction, the default or if acquired at
be responsible or liable for damage to frames freight forwarders or other forwarding agents made in accordance with the conditions set any time thereafter, and we may retain and
and glass coverings, regardless of the cause. or any other party be a Sanctioned Person(s) forth herein. Please note Sotheby’s reserves apply such property or money as collateral
nor owned (or partly owned) or controlled by the right to refuse to accept payment from a security for the obligations due to us or to
2. Inspection Prospective bidders should a Sanctioned Person(s), unless such activity source other than the buyer of record. any affiliated company of ours. We shall have
inspect the property before bidding to is authorized in writing by the government Unless otherwise agreed by Sotheby’s, all of the rights accorded a secured party
determine its condition, size, and whether or authority having jurisdiction over the all property must be removed from our under the New York Uniform Commercial
not it has been repaired or restored. transaction or in applicable law or regulation. premises by the purchaser at his expense Code. You hereby agree that Sotheby’s may
In order to bid on “Premium Lots” you not later than 30 calendar days following file financing statements under the New
3. Buyer’s Premium A buyer’s premium must complete the required Premium Lot its sale. Purchasers are reminded that York Uniform Commercial Code without
will be added to the hammer price and is pre-registra tion application. Sotheby’s Sotheby’s liability for loss of or damage to your signature. Payment will not be deemed
payable by the purchaser as part of the total decision whether to accept any pre- sold property shall cease upon the earlier to have been made in full until we have
purchase price. The buyer’s premium is 25% registration application shall be final. You of (a) 30 calendar days after the date of the collected good funds. Any claims relating to
of the hammer price up to and including must arrange for Sotheby’s to receive your auction and (b) our release of the property to any purchase, including any claims under the
$400,000, 20% of any amount in excess of pre-registration application at least three the purchaser or the purchaser’s designated Conditions of Sale or Terms of Guarantee,
$400,000 up to and including $4,000,000, working days before the sale. Please bear in agent. Upon the expiration of such 30 must be presented directly to Sotheby’s.
and 13.9% of any amount in excess of mind that we are unable to obtain financial calendar day period or upon such earlier In the event the purchaser fails to pay any
$4,000,000. references over weekends or public holidays. release, as applicable: (i) the purchaser or all of the total purchase price for any lot
Sotheby’s may require such necessary bears full liability for any and all loss of or and Sotheby’s nonetheless elects to pay the
4. Withdrawal We reserve the right to financial references, guarantees, deposits damage to the property; (ii) the purchaser Consignor any portion of the sale proceeds,
withdraw any property before the sale and and/or such other security, in its absolute releases Sotheby’s, its affiliates, agents the purchaser acknowledges that Sotheby’s
shall have no liability whatsoever for such discretion, as security for your bid(s). and warehouses from any and all liability shall have all of the rights of the Consignor to
withdrawal. and claims for loss of or damage to the pursue the purchaser for any amounts paid
property; and (iii) the purchaser agrees to to the Consignor, whether at law, in equity, or
5. Per Lot Unless otherwise announced indemnify and hold Sotheby’s, its affiliates, under these Conditions of Sale.
by the auctioneer, all bids are per lot as
numbered in the catalogue.

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