Page 162 - Sothebys Chinese Art St. George St London May 2018

printed in the sale catalogue, including the vestigations to satisfy themselves as to the otherwise, except as set out in Condition (c) The auctioneer will commence and
guide to Buying at Auction; and lots in which they may be interested. 3(f) above; advance the bidding at levels and in incre-
(v) in respect of online bidding via the (b) Each lot o! ered for sale at Sotheby’s (ii) gives any guarantee or warranty to Bid- ments he considers appropriate and is

internet, the BidNOWConditions on the ders and any implied warranties and condi- entitled to place a bid or series of bids on
is available for inspection by Bidders prior
Sotheby’s website, to the sale. Sotheby’s accepts bids on lots tions are excluded (save in so far as such behalf of the Seller up to the Reserve on
in each case as amended by any saleroom obligations cannot be excluded by law) the lot, without indicating he is doing so
solely on the basis that Bidders (and inde-
notice or auctioneer’s announcement at pendent experts on their behalf, to the ex- other than the express warranties given by and whether or not other bids are placed.
the auction. the Seller to the Buyer in Condition 2 of the
tent appropriate given the nature and value (d) Subject to Condition 6(b), the contract
Sellers’ Conditions of Business;
(b) As auctioneer, Sotheby’s acts as agent of the lot and the Bidder’s own expertise) between the Buyer and the Seller is con-
for the Seller. A sale contract is made have fully inspected the lot prior to bidding (iii) accepts responsibility to any Bidders cluded on the striking of the auctioneer’s
in respect of acts or omissions (whether
directly between the Seller and the Buyer. and have satisÞ ed themselves as to both hammer, whereupon the Buyer becomes
However, Sotheby’s may own a lot (and in the condition of the lot and the accuracy of negligent or otherwise) by Sotheby’s in liable to pay the Purchase Price.
connection with the conduct of auctions or
such circumstances acts in a principal ca- its description. (e) Any post-auction sale of lots o! ered at
pacity as Seller) and/or may have a legal, for any matter relating to the sale of any lot.
(c) Bidders acknowledge that many lots auction shall incorporate these Conditions
beneÞ cial or Þ nancial interest in a lot as a are of an age and type which means that (c) Unless Sotheby’s owns a lot o! ered for as if sold in the auction.
secured creditor or otherwise. sale, it is not responsible for any breach of
they are not in perfect condition. All lots
these conditions by the Seller.
are o! ered for sale in the condition they 7. PAYMENT AND COLLECTION
2. COMMON TERMS
are in at the time of the auction (whether or (d) Without prejudice to Condition 4(b), (a) Unless otherwise agreed, payment
In these Conditions of Business: not Bidders are in attendance at the auc- any claim against Sotheby’s or the Seller of the Purchase Price for a lot and any
“Bidder” is any person considering, mak- tion). Condition reports may be available by a Bidder is limited to the Purchase Price Buyer’s Expenses are due by the Buyer in
ing or attempting to make a bid, by what- to assist when inspecting lots. Catalogue with regard to that lot. Neither Sotheby’s pounds sterling immediately on conclusion
ever means, and includes Buyers; descriptions and condition reports may nor the Seller shall under any circum- of the auction (the “Due Date”) notwith-
“Buyer” is the person who makes the high- on occasions make reference to particular stances be liable for any consequential standing any requirements for export,
est bid or o! er accepted by the auctioneer, imperfections of a lot, but Bidders should losses. import or other permits for such lot.
and includes such person’s principal when note that lots may have other faults not (e) None of this Condition 4 shall exclude
bidding as agent; expressly referred to in the catalogue or or limit Sotheby’s liability in respect of (b) Title in a purchased lot will not pass
“Buyer’s Expenses” are any costs or condition report. Illustrations are for iden- any fraudulent misrepresentation made until Sotheby’s has received the Purchase
expenses due to Sotheby’s from the Buyer tiÞ cation purposes only and will not convey by Sotheby’s or the Seller, or in respect Price and Buyer’s Expenses for that lot in
and any Artist’s Resale Right levy pay- full information as to the actual condition of death or personal injury caused by the cleared funds. Sotheby’s is not obliged to
able in respect of the sale of the Property, of lots. negligent acts or omissions of Sotheby’s release a lot to the Buyer until title in the lot
including an amount in respect of any ap- (d) Information provided to Bidders in or the Seller. has passed and appropriate identiÞ cation
plicable VAT thereon; has been provided, and any earlier release
respect of any lot, including any estimate, does not a! ect the passing of title or the
“Buyer’s Premium” is the commission whether written or oral and including 5. BIDDING AT AUCTION
payable by the Buyer on the Hammer Price Buyer’s unconditional obligation to pay the
information in any catalogue, condition or (a) Sotheby’s has absolute discretion to Purchase Price and Buyer’s Expenses.
at the rates set out in the guide to Buying other report, commentary or valuation, is
at Auction plus any applicable VAT or an refuse admission to the auction. Bidders (c) The Buyer is obliged to arrange collec-
not a representation of fact but rather is a must complete a Paddle Registration Form
amount in lieu of VAT; statement of opinion genuinely held by So- tion of purchased lots no later than thirty
“Counterfeit” is as deÞ ned in Sotheby’s and supply such information and refer- (30) calendar days after the date of the
theby’s. Any estimate may not be relied on ences as required by Sotheby’s. Bidders
Authenticity Guarantee; as a prediction of the selling price or value auction. Purchased lots are at the Buyer’s
“Hammer Price” is the highest bid ac- act as principal unless they have Sotheby’s risk (and therefore their sole responsibility
of the lot and may be revised from time to prior written consent to bid as agent for
cepted by the auctioneer by the fall of the time in Sotheby’s absolute discretion. for insurance) from the earliest of i) collec-
hammer, (in the case of wine, as appor- another party. Bidders are personally liable tion or ii) the thirty-Þ rst calendar day after
tioned pro-rata by reference to the number (e) No representations or warranties are for their bid and are jointly and severally li- the auction. Until risk passes, Sotheby’s
of separately identiÞ ed items in that lot), made by Sotheby’s or the Seller as to able with their principal if bidding as agent. will compensate the Buyer for any loss or
or in the case of a post-auction sale, the whether any lot is subject to copyright or (b) Sotheby’s advises Bidders to attend damage to the lot up to a maximum of the
agreed sale price; whether the Buyer acquires copyright in the auction but will seek to carry out ab- Purchase Price paid. Buyers should note
“Purchase Price” is the Hammer Price any lot. sentee written bids which are in pounds that Sotheby’s assumption of liability for
and applicable Buyer’s Premium and VAT; (f) Subject to the matters referred to at sterling and, in Sotheby’s opinion, clear loss or damage is subject to the exclusions
“Reserve” is the (conÞ dential) minimum 3(a) to 3(e) above and to the speciÞ c and received su' ciently in advance of the set out in Condition 6 of the Conditions of
Hammer Price at which the Seller has exclusions contained at Condition 4 below, sale of the lot, endeavouring to ensure that Business for Sellers.
agreed to sell a lot; Sotheby’s shall exercise such reasonable the Þ rst received of identical written bids (d) For all items stored by a third party and
“Seller” is the person o! ering a lot for care when making express statements in has priority. not available for collection from Sotheby’s
sale (including their agent (other than catalogue descriptions or condition reports (c) Where available, written, telephone and premises, the supply of authority to release
Sotheby’s), executors or personal repre- as is consistent with its role as auctioneer online bids are o! ered as an additional ser- to the Buyer shall constitute collection by
sentatives); of lots in the sale to which these Conditions vice for no extra charge, at the Bidder’s risk the Buyer.
“Sotheby’s” means Sotheby’s, the un- relate, and in the light of: and shall be undertaken with reasonable
limited company which has its registered (i) the information provided to it by the care subject to Sotheby’s other commit- (e) All packing and handling is at the
o' ce at 34-35 New Bond Street, London Seller; ments at the time of the auction; Sotheby’s Buyer’s risk. Sotheby’s will not be liable for
W1A 2AA; (ii) scholarship and technical knowledge; therefore cannot accept liability for failure any acts or omissions of third party pack-
“Sotheby’s Company” means both So- and to place such bids save where such failure ers or shippers.
theby’s in the USA and any of its subsidiar- (iii) the generally accepted opinions of rel- is unreasonable. Telephone and online bids (f) The Buyer of any Þ rearm is solely
ies (including Sotheby’s in London) and evant experts, in each case at the time any may be recorded. Online bids (“BidNOW”) responsible for obtaining all valid Þ rearm
Sotheby’s Diamonds SA and its subsidiar- such express statement is made. are made subject to the BidNOW Condi- or shotgun certiÞ cates or certiÞ cates of
ies (in each case “subsidiary” having the registration as a Þ rearms dealer, as may be
tions available on the Sotheby’s website
meaning of Section 1159 of the Companies 4. EXCLUSIONS AND LIMITATIONS or upon request. The BidNOW Conditions required by the regulations in force in Eng-
Act 2006); OF LIABILITY TO BUYERS land and Wales or Scotland (as applicable)
apply in relation to online bids, in addition
“VAT” is Value Added Tax at the prevailing (a) Sotheby’s shall refund the Purchase to these Conditions of Business. relating to Þ rearms or other weapons at
rate. Further information is contained in Price to the Buyer in circumstances where the time of the sale, and for complying with
the guide to Buying at Auction. it deems that the lot is a Counterfeit and 6. CONDUCT OF THE AUCTION all such regulations, whether or not notice
each of the conditions of the Authenticity of such is published in the Sale Catalogue.
3. DUTIES OF BIDDERS AND Guarantee has been satisÞ ed. (a) Unless otherwise speciÞ ed, all lots are Sotheby’s will not deliver a Þ rearm to a
OF SOTHEBY’S IN RESPECT o! ered subject to a Reserve, which shall be Buyer unless the Buyer has Þ rst supplied
OF ITEMS FOR SALE (b) In the light of the matters in Condition 3 no higher than the low presale estimate at
evidence to Sotheby’s satisfaction of com-
(a) Sotheby’s knowledge in relation to each above and subject to Conditions 4(a) and the time of the auction. pliance with this Condition.
4(e), neither any Sotheby’s Company nor
lot is partially dependent on information (b) The auctioneer has discretion at any
provided to it by the Seller, and Sotheby’s the Seller: time to refuse any bid, withdraw any lot, 8. REMEDIES FOR NON!PAYMENT
(i) is liable for any errors or omissions in
is not able to and does not carry out ex- re-o! er a lot for sale (including after the fall Without prejudice to any rights the Seller
haustive due diligence on each lot. Bidders information provided to Bidders by Sothe- of the hammer) if he believes there may be
by’s (or any Sotheby’s Company), whether may have, if the Buyer without prior agree-
acknowledge this fact and accept respon- error or dispute, and take such other action ment fails to make payment for the lot
sibility for carrying out inspections and in- orally or in writing, whether negligent or as he reasonably thinks Þ t.
within Þ ve days of the auction, Sotheby’s
160 SOTHEBY’S