Page 201 - 2019 September 10th Sotheby's Important Chinese Art Junkunc Collection

The Art Loss Register As part of Sotheby’s Where Sotheby’s Collects Sales Tax Local Tax Advisors As sales tax laws vary
efforts to support only the legitimate art SOTHEBY’S SERVICES Sotheby’s is currently registered to collect from state to state, Sotheby’s recommends
market and to combat the illegitimate market sales tax in the following states: Alabama, that clients with questions regarding the
in stolen property, Sotheby’s has retained Sotheby’s also offers a range of other Arkansas, California, Colorado, Connecticut, application of sales or use taxes to property
the Art Loss Register to check all uniquely services to our clients beyond buying District of Columbia, Florida, Georgia, Hawaii, purchased at auction seek tax advice from
identifiable items offered for sale in this and selling at auction. These services are Idaho, Illinois, Indiana, Iowa, Kentucky, their local tax advisors.
catalogue that are estimated at more than summarized below. Further information on Maine, Maryland, Massachusetts, Michigan,
the equivalent of US$1,500 against the Art any of the services described below can be Minnesota, Missouri, Nebraska, Nevada,
Loss Register’s computerized database found at sothebys.com. New Jersey, New Mexico, New York, North IMPORTANT NOTICES
of objects reported as stolen or lost. The Carolina, Ohio, Oklahoma, Pennsylvania,
Art Loss Register is pleased to provide Valuations and Appraisals Sotheby’s Rhode Island, South Carolina, Texas, Utah, Property Collection All property that is
purchasers with a certificate confirming Valuations and Appraisals Services offers Vermont, Virginia, Washington, Wisconsin sold, has bought in, or is to be returned to the
that a search has been made. All inquiries advice regarding personal property assets and Wyoming. For any property collected or consignor will remain at 1334 York Avenue for
regarding search certificates should be to trusts, estates, and private clients received by the purchaser in New York City, collection. Exceptions to this policy may
directed to The Art Loss Register, First Floor, in order to help fiduciaries, executors, such property is subject to sales tax at t include property considered to be oversized
63-66 Hatten Garden, London EC1N 8LE or advisors, and collectors meet their goals. he existing New York State and City rate and monumental works of art.
by email at artloss@artloss.com. The Art Loss We provide efficient and confidential advice of 8.875%. Invoices and statements will indicate your
Register does not guarantee the provenance and assistance for all appraisal and auction property’s location. Refer to our Property
or title of any catalogued item against which services. Sotheby’s can prepare appraisals Sotheby’s Arranged Shipping If the Collection information at www.sothebys.com/
they search, and will not be liable for any to suit a variety of needs, including estate property is delivered into any state in which pickup.
direct or consequential losses of any nature tax and planning, insurance, charitable Sotheby’s is registered, Sotheby’s is required
howsoever arising. This statement and the contribution and collateral loan. Our by law to collect and remit the appropriate Property Payment All property must be
ALR’s service do not affect your rights and appraisals are widely accepted by the sales tax in effect in the state where the paid in full before collection or release from
obligations under the Conditions of Sale Internal Revenue Service, tax and estate property is delivered. any Sotheby’s location. Payment must be
applicable to the sale. planning professionals, and insurance firms. made through Sotheby’s New York Post Sale
In the event that a sale is considered, we are Client Arranged Shipping Property Services by way of our acceptable forms
pleased to provide auction estimates, sales collected from Sotheby’s New York premises of payment methods mentioned on your
SELLING AT AUCTION proposals and marketing plans. When sales by a common carrier hired by the purchaser invoice. To arrange for payment, please
are underway, the group works closely with for delivery at an address outside of New
the appropriate specialist departments to York is not subject to New York Sales Tax, contact Post Sale Services at +1 212 606
If you have property you wish to sell, Sotheby’s ensure that clients’ needs are met promptly 7444 or USPostSaleServices@sothebys.com.
team of specialists and client services and efficiently. but if the property is delivered into any state Payment will not be accepted at the offsite
representatives will assist you through the in which Sotheby’s is registered, Sotheby’s facility. Dealers and resale clients should fill
entire process. Simply contact the appropriate Financial Services Sotheby’s offers a is required by law to collect and remit the out the appropriate forms where applicable or
specialist (specialist departments are listed in wide range of financial services including appropriate sales tax in effect in the state contact Post Sale Services with any questions.
the back of this catalogue), General Inquiries advances on consignments, as well as loans where the property is delivered. New York
Department or a Sotheby’s regional office secured by art collections not intended for State recognizes shippers such as the Loss and Liability Unless otherwise agreed
representative for suggestions on how best to sale. United States Postal Service, United Parcel by Sotheby’s, all sold property must be
arrange for evaluation of your property. Service, FedEx, or the like as “common removed from any of our premises (including
carriers”. If a purchaser hires a shipper
Museum Services Tailored to meet the other than a common carrier to pick up the SLP Warehouse) by the buyer at their
Property Evaluation There are three unique needs of museums and non profits expense no later than 30 calendar days
general ways evaluation of property can be in the marketplace, Museum Services offers property, Sotheby’s will collect New York following its sale. Buyers are reminded that
conducted: sales tax at a rate of 8.875% regardless of Sotheby’s liability for loss or damage to sold
personal, professional assistance and advice the ultimate destination of the goods. If a
in areas including appraisals, deaccessions, purchaser utilizes a freight-forwarder who is property shall cease no later than 30 calendar
(1) In our galleries acquisitions and special events. days after the date of the auction.
You may bring your property directly to our registered with the Transportation Security
galleries where our specialists will give you Corporate Art Services Devoted to Administration (“TSA”) to deliver property Collection & Shipping Where applicable,
auction estimates and advice. There is no servicing corporations, Sotheby’s Corporate outside of the United States, no sales tax the SLP Warehouse requires 24 hours
charge for this service, but we request that Art Services Department can prepare would be due on this transaction. advanced notice for collection of property.
you telephone ahead for an appointment. appraisal reports, advise on acquisitions Please arrange this through our Post Sale
Inspection hours are 9:30 am to 5 pm, and deaccessions, manage all aspects of Where Sotheby’s is Not Required to Services team at +1 212 606 7444 or
Monday through Friday. Collect Sales Tax Sotheby’s is not required USPostSaleServices@sothebys.com.
consignment, assist in developing arts- to collect sales tax on property delivered
(2) By photograph management strategies and create events to states other than those listed above. If For in-person collections at our offsite
If your property is not portable, or if you are catering to a corporation’s needs. the property is delivered to a state where location, please alert Post Sale Services of
not able to visit our galleries, you may bring Sotheby’s is not required to collect sales tax, your proposed collection date, ensure that all
in or send a clear photograph of each item. If it is the responsibility of the purchaser to self- outstanding invoices have been paid for, and
you have a large collection, a representative INFORMATION ON SALES assess any sales or use tax and remit it to that you or your agent have the appropriate
selection of photographs will do. Please AND USE TAX RELATED TO taxing authorities in that state. photo identification upon arrival.
be sure to include the dimensions, artist’s PURCHASES AT AUCTION If you are using your own shipper to
signature or maker’s mark, medium, physical Sotheby’s is not required to collect sales collect property, please provide a letter of
condition and any other relevant information. To better assist our clients, we have prepared tax for property delivered to the purchaser authorization and instruct your shipper to
Our specialists will provide a free preliminary the following information on Sales and Use outside of the United States. email their bill of lading to billsoflading
auction estimate subject to a final estimate Tax related to property purchased at auction. @sothebys.com and ensure the correct
upon first-hand inspection. Restoration and Other Services
Regardless of where the property is collection location is specified.
(3) In your home Why Sotheby’s Collects Sales Tax subsequently transported, if any framing or
Evaluations of property can also be made in Virtually all State Sales Tax Laws require restoration services are performed on the Sotheby’s can arrange for delivery of your
your home. The fees for such visits are based a corporation to register with the State’s property in New York, it is considered to be a property through one of our contracted ven-
on the scope and diversity of property, with Tax Authorities and collect and remit sales delivery of the property to the purchaser in dors or can coordinate pick up at our offsite
travel expenses additional. These fees may tax if the corporation either establishes or New York, and Sotheby’s will be required to location with you or your shipper directly.
be rebated if you consign your property for maintains physical or economic presence collect the 8.875% New York sales tax. Please contact Post Sale Services at +1 212
sale at Sotheby’s. If there is considerable within the state. In the states that impose 606 7444 or USPostSaleServices
property in question, we can arrange for an sales tax, Tax Laws require an auction house, Certain Exemptions Most states that @sothebys.com to start your collection
informal “walkthrough.” with such presence in the state, to register impose sales taxes allow for specified process.
as a sales tax collector, and remit sales tax exemptions to the tax. For example, a
Once your property has been evaluated, collected to the state. New York sales tax
Sotheby’s representatives can then help you is charged on the hammer price, buyer’s registered re-seller such as a registered art
determine how to proceed should you wish premium and any other applicable charges dealer may purchase without incurring a
to continue with the auction process. They on any property picked up or delivered in tax liability, and Sotheby’s is not required to
will provide information regarding sellers’ New York, regardless of the state or country collect sales tax from such re-seller. The art
commission rates and other charges, auction in which the purchaser resides or does dealer, when re-selling the property, may
venue, shipping and any further services you business. be required to charge sales tax to its client,
may require. or the client may be required to self-assess
sales or use tax upon acquiring the property.

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