Page 159 - Fine Classical Chinese Paintings SOthebys Hong Kong April 1 2019

Sotheby’s means Sotheby’s Hong Kong 4. EXCLUSIONS AND LIMITATIONS OF 6. CONDUCT OF THE AUCTION
CONDITIONS OF BUSINESS Ltd., which has its registered offi ce at Level LIABILITY TO BUYERS (a) Unless otherwise specifi ed, all lots are
54, Hopewell Centre, 183 Queen’s Road East, (a) Sotheby’s shall refund the Purchase Price off ered subject to a Reserve, which shall be
The nature of the relationship between Hong Kong; to the Buyer in circumstances where it deems no higher than the low presale estimate at the
Sotheby’s, Sellers and Bidders and the Sotheby’s Company means Sotheby’s in that the lot is a Counterfeit and each of the time of the auction.
terms on which Sotheby’s (as auctioneer) the USA and any of its subsidiaries (including conditions of the Authenticity Guarantee has
and Sellers contract with Bidders are set Sotheby’s) and Sotheby’s Diamonds SA and been satisfi ed. (b) The auctioneer has absolute discretion at
out below. its subsidiaries (in each case ‘subsidiary’ any time to refuse or accept any bid, withdraw
having the meaning of Section 2 of the (b) In the light of the matters in Condition any lot, re-off er a lot for sale (including after
Bidders’ attention is specifi cally drawn to Companies Ordinance Cap.622). 3 above and subject to Conditions 4(a) and the fall of the hammer), and take such other
Conditions 3 and 4 below, which require 4(e), neither any Sotheby’s Company nor the action as he reasonably thinks fi t.
Seller:
them to investigate lots prior to bidding 3. DUTIES OF BIDDERS AND OF (c) The auctioneer will commence and
and which contain specifi c limitations and SOTHEBY’S IN RESPECT OF ITEMS (i) is liable for any errors or omissions in advance the bidding at levels and in
exclusions of the legal liability of Sotheby’s FOR SALE information provided to Bidders by Sotheby’s increments he considers appropriate and
and Sellers. The limitations and exclusions (a) Sotheby’s knowledge in relation to each lot (or any Sotheby’s Company), whether orally is entitled to place a bid or series of bids on
is partially dependent on information provided
relating to Sotheby’s are consistent with to it by the Seller, and Sotheby’s is not able or in writing, whether negligent or otherwise, behalf of the Seller up to the Reserve on the
its role as auctioneer of large quantities to and does not carry out exhaustive due except as set out in Condition 3(f) above; lot, without indicating he is doing so and
of goods of a wide variety and Bidders diligence on each lot. Bidders acknowledge (ii) gives any guarantee or warranty to whether or not other bids are placed.
should pay particular attention to these this fact and accept responsibility for carrying Bidders and any implied warranties and
Conditions. out inspections and investigations to satisfy conditions are excluded (save in so far as (d) Subject to Condition 6(b), the contract
themselves as to the lots in which they may such obligations cannot be excluded by law) between the Buyer and the Seller is concluded
1. INTRODUCTION be interested. other than the express warranties given by on the striking of the auctioneer’s hammer,
(a) Sotheby’s and Sellers’ contractual the Seller to the Buyer in Condition 2 of the whereupon the Buyer becomes liable to pay
relationship with prospective Buyers is (b) Each lot off ered for sale at Sotheby’s is Sellers’ Conditions of Business; the Purchase Price.
governed by: available for inspection by Bidders prior to the (iii) accepts responsibility to any Bidders
sale. Sotheby’s accepts bids on lots solely in respect of acts or omissions (whether (e) Any post-auction sale of lots off ered at
(i) these Conditions of Business; on the basis that Bidders (and independent negligent or otherwise) by Sotheby’s in auction shall incorporate these Conditions as
(ii) the Conditions of Business for Sellers experts on their behalf, to the extent connection with the conduct of auctions or for if sold in the auction.
displayed in the saleroom and which are appropriate given the nature and value of the any matter relating to the sale of any lot
available upon request from Sotheby’s Hong lot and the Bidder’s own expertise) have fully 7. PAYMENT AND COLLECTION
Kong salerooms or by telephoning (852) inspected the lot prior to bidding and have (c) Unless Sotheby’s owns a lot off ered for (a) Unless otherwise agreed, payment of
2524 8121; satisfi ed themselves as to both the condition sale, it is not responsible for any breach of the Purchase Price for a lot and any Buyer’s
(iii) Sotheby’s Authenticity Guarantee as of the lot and the accuracy of its description. these conditions by the Seller. Expenses are due in Hong Kong dollars
printed in the sale catalogue; immediately on conclusion of the auction
(iv) any additional notices and terms printed (c) Bidders acknowledge that many lots are (d) Without prejudice to Condition 4(b), any (the “Due Date”) notwithstanding any
in the sale catalogue including the Guide for of an age and type which means that they are claim against Sotheby’s or the Seller by a requirements for export, import or other
Prospective Buyers; and not in perfect condition. All lots are off ered Bidder is limited to the Purchase Price with permits for such lot.
(v) in respect of online bidding via the for sale in the condition they are in at the regard to that lot. Neither Sotheby’s nor the
internet, the BID now Conditions on the time of the auction (whether or not Bidders Seller shall under any circumstances be liable (b) Title in a purchased lot will not pass until
Sotheby’s website, in each case as amended are in attendance at the auction). Condition for any consequential losses. Sotheby’s has received the Purchase Price
by any saleroom notice or auctioneer’s reports may be available to assist when and Buyer’s Expenses for that lot in cleared
announcement at the auction. inspecting lots. Catalogue descriptions and (e) None of this Condition 4 shall exclude funds. Sotheby’s is not obliged to release
condition reports may on occasions make or limit Sotheby’s liability in respect of any a lot to the Buyer until title in the lot has
(b) As auctioneer, Sotheby’s acts as agent reference to particular imperfections of a lot, fraudulent misrepresentation made by passed and appropriate identification has
for the Seller. A sale contract is made directly but Bidders should note that lots may have Sotheby’s or the Seller, or in respect of death been provided, and any earlier release does
between the Seller and the Buyer. However, other faults not expressly referred to in the or personal injury caused by the negligent not aff ect the passing of title or the Buyer’s
Sotheby’s may own a lot (and in such catalogue or condition report. Illustrations acts or omissions of Sotheby’s or the Seller. unconditional obligation to pay the Purchase
circumstances acts in a principal capacity as are for identifi cation purposes only and will Price and Buyer’s Expenses.
Seller) and/or may have a legal, benefi cial or not convey full information as to the actual 5. BIDDING AT AUCTION
fi nancial interest in a lot as a secured creditor condition of lots. (a) Sotheby’s has absolute discretion to (c) The Buyer is obliged to arrange collection
or otherwise. refuse admission to the auction. Bidders of purchased lots no later than thirty (30)
(d) Information provided to Bidders in must complete a Paddle Registration Form calendar days after the date of the auction.
2. COMMON TERMS respect of any lot, including any estimate, and supply such information and references Purchased lots are at the Buyer’s risk
In these Conditions of Business: whether written or oral and including as required by Sotheby’s. Bidders act as (and therefore their sole responsibility for
information in any catalogue, condition or principal unless they have Sotheby’s prior insurance) from the earliest of
Bidder is any person considering, making or other report, commentary or valuation, is written consent to bid as agent for another
attempting to make a bid, by whatever means, not a representation of fact but rather is party. Bidders are personally liable for their (i) collection or
and includes Buyers; a statement of opinion genuinely held by bid and are jointly and severally liable with (ii) the thirty-first calendar day after the
Buyer is the person who makes the highest Sotheby’s. Any estimate may not be relied on their principal if bidding as agent. auction. Until risk passes, Sotheby’s will
bid or off er accepted by the auctioneer, and as a prediction of the selling price or value of compensate the Buyer for any loss or damage
includes such person’s principal when bidding the lot and may be revised from time to time (b) Sotheby’s advises Bidders to attend the to the lot up to a maximum of the Purchase
as agent; in Sotheby’s absolute discretion. auction but will seek to carry out absentee Price paid. Buyers should note that Sotheby’s
Buyer’s Expenses are any costs or written bids which are in Hong Kong dollars assumption of liability for loss or damage is
expenses due to Sotheby’s from the Buyer; (e) No representations or warranties are and, in Sotheby’s opinion, clear and received subject to the exclusions set out in Condition
Buyer’s Premium is the commission made by Sotheby’s or the Seller as to whether suffi ciently in advance of the sale of the lot, 6 of the Conditions of Business for Sellers.
payable by the Buyer on the Hammer Price at any lot is subject to copyright or whether the endeavouring to ensure that the fi rst received
the rates set out in the Guide for Prospective Buyer acquires copyright in any lot. of identical written bids has priority. 8. REMEDIES FOR NON-PAYMENT
Buyers; Without prejudice to any rights the Seller may
Counterfeit is as defined in Sotheby’s (f) Subject to the matters referred to at 3(a) (c) Where available, written, telephone have, if the Buyer without prior agreement
Authenticity Guarantee; to 3(e) above and to the specifi c exclusions and internet bids are offered as an fails to make payment in full for the lot within
Hammer Price is the highest bid accepted contained at Condition 4 below, Sotheby’s additional service for no extra charge, at the fi ve days of the auction, or in accordance with
by the auctioneer by the fall of the hammer, shall exercise such reasonable care when Bidder’s risk and shall be undertaken with any payment schedule agreed with Sotheby’s,
Sotheby’s may in its sole discretion (having
reasonable care subject to Sotheby’s other
(in the case of wine, as apportioned pro-rata making express statements in catalogue commitments at the time of the auction; informed the Seller) exercise one or more of
by reference to the number of separately descriptions or condition reports as is Sotheby’s therefore cannot accept liability the following remedies:
identifi ed items in that lot), or in the case of a consistent with its role as auctioneer of lots in for failure to place such bids save where
post-auction sale, the agreed sale price; the sale to which these Conditions relate, and such failure is unreasonable. Telephone and (a) store the lot at its premises or elsewhere
Purchase Price is the Hammer Price and in the light of internet bids may be recorded. Internet bids at the Buyer’s sole risk and expense;
applicable Buyer’s Premium; (“BID now ”) are made subject to the BID now
Reserve is the (confidential) minimum (i) the information provided to it by the Conditions available on the Sotheby’s website (b) terminate the contract of the sale of the
Hammer Price at which the Seller has agreed Seller; or upon request. The BID now Conditions apply lot, retaining the right to damages for the
(ii) scholarship and technical knowledge; and
to sell a lot; (iii) the generally accepted opinions of in relation to online bids, in addition to these Buyer’s breach of contract;
Seller is the person off ering a lot for sale relevant experts, in each case at the time any Conditions of Business.
(including their agent (other than Sotheby’s), such express statement is made.
executors or personal representatives);
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