Page 240 - Sotheby's NYC September 21 2022 Important Chinese Art

the sole responsibility of the Buyer as any bidder or Buyer expects or anti-money laundering, anti-terrorism, necessary or appropriate. increments in the auction room and on of a Lot, or re-offer and re-sell a Lot is due from the Buyer in the currency wallet used to make payment.
unless otherwise expressly stated in the without error or mistake; (4) the and anti-bribery or anti-corruption laws; (b) To bid on a Lot containing an NFT, the telephone but Bidders using Online (including after the fall of the hammer of the relevant sale (except to the (v) Payments in cryptocurrency
Experience description. uniqueness of the Referenced Content; (viii) the Purchase Price will not be you must have a digital wallet capable of Platforms may not be able to place a or, in a timed auction, the close of a extent permitted in Condition 8(b)) will not be accepted other than in
(5) that the NFT is reliable, correctly bid that is less than a whole bidding Lot), and take such other action as we immediately upon conclusion of
(j) The Buyer is solely responsible for programmed, compatible with your or funded directly or indirectly by or from supporting and accepting the NFT. increment above the previous bid. reasonably deem appropriate. In the the auction, notwithstanding any accordance with this Condition 8(b). If
identifying and obtaining any necessary others’ computer systems, up-to-date, anyone that is the subject of Sanctions (c) To bid on any auction Lot Where bidders are permitted to submit case of any dispute, our sale record requirements for export, import or you make payment in cryptocurrency
export, import, firearm, endangered error-free, compatible with your digital or located, organized, or resident in a designated as a “Premium Lot,” you online bids in advance of some live will be absolute and final. In the event other permits. The Buyer’s obligation other than in accordance with
species or other permit for a purchased wallet or meeting your requirements, Sanctioned Jurisdiction; must complete the required Premium auctions, we reserve the right to adjust of any discrepancy between any online to pay the full Purchase Price and any Condition 8(b), including where we
Lot. Any symbols or notices in the or that defects in the NFT can or will (ix) no party directly or indirectly Lot pre-registration application. We the opening bid prior to the start of the records or messages provided to you applicable Buyer’s Expenses is absolute determine or reasonably believe, in
Catalogue reflect our reasonable opinion be corrected; or (6) the accuracy or involved in the transaction is the subject must receive your application at auction. and our sale record, our sale record will and unconditional and is not subject to our sole discretion, that any of your
at the time of cataloguing and are reliability of any simulation or videos of Sanctions or is owned (in whole or in least 3 business days prior to the prevail. Where we decide to cancel the any defenses, setoffs or counterclaims representations and warranties are
included for informational purposes depicting the intended performance part) or controlled by any individual or commencement of the auction, and (b) In a timed auction, bidding opens sale of a Lot or to re-offer and sell a Lot of any kind whatsoever. inaccurate, incomplete or breached, we
only. Without prejudice to Condition of the NFT or the Referenced Content, entity that is the subject of Sanctions our decision whether to accept your at an amount that is at or below the following an error or dispute with respect may, in our sole discretion, return those
3(k), neither we nor the Seller make whether displayed on our websites or or otherwise located, organized, or application will be final. Online bidding low estimate for the Lot and escalates to bidding, we will notify the Buyer of (v) We will not accept payment from funds to you, hold you responsible for
any representations or warranties as to on any other platform. resident in a Sanctioned Jurisdiction, may not be available for Premium Lots. in bid increments that we determine. such decision as soon as reasonably a source other than the Buyer. If you all third-party fees (including, without
whether any Lot is subject to export or except as expressly authorized in We may vary the amount of the bid practicable. are registered to bid as a company, limitation, network fees, taxes, transfer
import restrictions or any embargoes. 4. BUYER REPRESENTATIONS AND writing by the government authority (d) We advise Bidders to attend the increments during a timed auction. Lots your company will need to pay for any fees, etc.), and require you to pay in the
The denial of any permit or license will WARRANTIES having jurisdiction over the purchase auction, either in person or through will be closed sequentially, either by the (g) Subject to Condition 7(e), the purchases in the name of the company fiat currency of the sale. In addition, in
not justify cancellation or rescission (a) You represent and warrant to us and with our prior express written our Online Platforms. We also offer online system or, in some cases, by a Buyer will be: in a live auction, the via an accepted payment method. the event we make any refund of Taxes
of the sale or excuse any delay in and the Seller that at all relevant times: consent; Bidders the opportunity to bid through live auctioneer. If closed by the online highest Bidder accepted for a Lot at the Partial payment for a Lot, or payment to you and you paid such Taxes using
payment. We will not deliver a firearm our Online Platforms. If you elect to system, Lots will close sequentially fall of the hammer; in a timed auction, across multiple credit cards for a single cryptocurrency, you understand and
to a Buyer unless the Buyer has first (i) your bids on any Lot are genuine (x) if you are acting as agent on bid through an Online Platform, you in one-minute intervals unless a bid the highest Bidder accepted for a Lot Lot, is not permitted. agree that we, at our sole discretion,
supplied evidence to our satisfaction of and are not the product of any collusive behalf of a principal, you have taken are responsible for making yourself is placed within one minute of a Lot’s on the close of the Lot; in the case of a (vi) Title in a purchased Lot will not may refund you (1) the same amount(s)
compliance with this Condition. or other anti-competitive agreement steps reasonably designed to ensure aware of all salesroom notices and scheduled closing time, in which case Bidder bidding as agent, such Bidder’s pass to the Buyer until we have received of the same cryptocurrency that you
and are otherwise consistent with any compliance with Sanctions, anti- announcements, which will be available we will extend the sale of that Lot by two principal will be the Buyer. This means paid to us for such Taxes; (2) the
(k) DISCLAIMER OF WARRANTIES: applicable antitrust laws; money laundering, anti-terrorism, and on the Online Platforms. minutes from the time of the last bid that, subject to Condition 7(e), the sale the full Purchase Price in cleared funds. amount(s) in fiat currency that we
We will release a Lot to the Buyer after
(i) All Lots are offered for sale “AS IS,” (ii) your performance under these anti-bribery or anti-corruption laws, (e) Written bids and telephone bids are and such extensions may be repeated contract between the Buyer and the we have received the full Purchase Price invoiced to you for such Taxes; or (3)
without any guarantee, representations Conditions of Business for Buyers including but not limited to, conducting offered as a courtesy for no additional for a maximum period of two hours. The Seller is concluded on the striking of the and any applicable Buyer’s Expenses the fiat currency equivalent at the time
or warranties by us or the Seller, except has not and will not violate any appropriate due diligence on your charge, at the Bidder’s risk and subject extension of any Lot’s closing time does auctioneer’s hammer in a live auction, in cleared funds and appropriate the refund is made of the amount(s) of
for the express representations and applicable law, regulation or code in any principal and screening source of funds. to our other commitments at the time not affect any other Lot’s closing time; or on the close of a Lot in a timed identification has been provided, unless cryptocurrency that you paid for such
warranties given by the Seller and jurisdiction; You will retain and make available upon of the auction. We will seek to carry out therefore, it is possible that Lots will auction, whereupon the Buyer becomes we are prevented from doing so by an Taxes. In no circumstance will you be
the Authenticity Guarantee, which request the documentation evidencing absentee written bids, endeavoring to close out of numerical Lot order. liable to pay the full Purchase Price and event beyond our control. Any earlier entitled to receive any appreciation
we, as principal, provide to the Buyer. (iii) regarding any Lots containing such due diligence for at least five years ensure that the first received of identical (c) With respect to Parcels, at the any applicable Buyer’s Expenses. The release does not affect the passing on the value of the cryptocurrency
We and the Seller disclaim all implied alcoholic beverages, where required by after the purchase, and all commissions written bids has priority. We will not auctioneer’s discretion, the successful sale contract between the Seller and the of title or the Buyer’s unconditional that you provided to us as payment in
warranties, including but not limited applicable law, you are properly licensed, payable to you for this consignment accept liability for failure to place written Bidder of the first Lot in a Parcel will Buyer of a Lot will be final at the end of obligation to pay the full Purchase Price connection with a refund.
to merchantability and fitness for a permitted or otherwise authorized to have been authorized by your principal; or telephone bids. have the option, but not the obligation, the auction session. and any applicable Buyer’s Expenses. (vi) Once you initiate a cryptocurrency
particular purpose, except in so far as purchase, receive, possess and/or cause (xi) your purchase will not cause (or to purchase in consecutive order one or (h) Any post-auction sale of Lots will transaction, the transaction cannot be
such obligations cannot be excluded to transport alcoholic beverages; otherwise result in) us, Sellers, or anyone (f) All bidding will be in the currency more of the remaining Lots in the Parcel, be sold pursuant to these Conditions of (b) Payment in cryptocurrency: reversed; this is inherent in the nature of
by law. Neither we nor the Seller give (iv) your purchase of a Lot and, if you else to violate any Sanctions, anti-money of the sale location. As a courtesy to each at the same successful bid price Business for Buyers. for Lots eligible for payment in cryptocurrencies and not a policy set by
you any guarantee, representation are acting as an agent on behalf of a laundering, anti-terrorism, or anti- Bidders, a currency board is operated as the first Lot. If any Lots in the Parcel cryptocurrencies, payments made in us. You are responsible for verifying that
or warranty as to the correctness principal, the arrangement between bribery or anti-corruption laws; and in many salerooms for live auctions for are not purchased, the auctioneer will 8. PAYMENT cryptocurrency shall be subject to the you have sent the correct amount to the
of the Catalogue or other images you and your principal, will not facilitate informational purposes only. Online open the bidding on the next unsold (a) Generally. terms in this Condition 8(b) in addition correct digital wallet address.
or descriptions of the condition, tax crimes; (xii) you have full legal authority Bidders will not be able to see any such Lot in the Parcel, and the successful to the terms set forth in Condition 8(a)
completeness, size, quality, rarity, without any further action or other currency conversion board that may be Bidder of that Lot will have the option, (i) Buyers will be invoiced after the above. (vii) If you make payment in
value, importance, medium, frame, (v) you have no knowledge or reason party’s consent to enter into and displayed in the auction room. but not the obligation, to purchase in sale. For online Bidders, the purchase (i) We will accept payment in cryptocurrency from a digital wallet or
provenance, exhibition history, or to suspect that (1) the funds used to perform under these Conditions of (g) We reserve the right to refuse or consecutive order one or more, if any, information shown in the “My Bids” cryptocurrency only for Lots designated account, you represent and warrant
literary or historical relevance of any purchase a Lot are connected with Business for Buyers and to give these revoke permission to bid before or of the remaining Lots in the Parcel, each section of the Sotheby’s App and in as eligible for such in the Catalogue or the following: (1) you own the digital
Lot, and no statement anywhere, the proceeds of criminal activity, or representations and warranties; if you during a sale for any reason. For live at the newly-established successful the “Account Activity” section of “My by any oral or written announcement wallet and the cryptocurrency used to
whether oral or written, will be deemed (2) you or your principal, if applicable are an entity, the individual bidding auctions with bidding in person, we bid price. Account” on our website is provided or notice prior to or during the sale, and make payment; (2) the digital wallet
such a warranty, representation or (or, if you are an entity, any person(s) on your behalf is authorized to do so may refuse admission to the auction. for your convenience only. In the event only in the following cryptocurrencies: or account is not directly or indirectly
assumption of liability. Except as or entity(ies) with a beneficial or and the entity is duly incorporated or For timed auctions, we also reserve the (d) The auctioneer (or, in a timed of any discrepancy between the online Bitcoin (BTC), Ether (ETH) and USD hosted, operated, or otherwise
expressly set forth elsewhere in these ownership interest in you), are under formed, validly existing and in good right to deactivate your account at any auction, the online system) may open purchase information and the invoice Coin (USDC). controlled by anyone that is the subject
Conditions of Business for Buyers, investigation, charged with, or convicted standing in the jurisdiction where it is time prior to, during, or after an auction. bidding on any Lot by placing a bid on we send you following the sale, the of Sanctions or located, resident, or
neither we nor the Seller make any of any substantive or predicate money incorporated or formed. behalf of the Seller below the Reserve. invoice will prevail. (ii) The amount due will be the organized in a Sanctioned Jurisdiction;
representations or warranties as to laundering or economic sanctions (b) We may, in our sole discretion, (h) For timed auctions and online sales, The auctioneer may further bid on (ii) For auction Lots, the Buyer’s cryptocurrency equivalent at the (3) the cryptocurrency or any other
whether any Lot is subject to copyright crime, terrorist activity, tax evasion or rescind the sale of a Lot if we reasonably you may cancel a bid after you place behalf of the Seller, up to but not at Premium and Overhead Premium will time payment is made of the amount assets in the digital wallet or account
it only if (i) the description of or the
or whether the Buyer acquires any act in violation of any anti-bribery or determine any of the Buyer’s the Reserve, by placing successive or be added to the Hammer Price on a per- invoiced, and Buyer will be responsible used for the bid or purchase were not
copyrights, including but not limited to, anti-corruption laws or regulations; representations or warranties are condition report for the Lot has been consecutive bids for a Lot, or by placing Lot basis and are payable by the Buyer for applicable network fees required to sourced from anyone that is the subject
any reproduction rights in any Lot. (vi) you (and your principal, if inaccurate, incomplete or breached. materially revised after the bid was bids in response to other Bidders; in a as part of the Purchase Price. successfully conduct the transaction on of Sanctions or located, resident, or
timed auction, such bids will be counted
organized in a Sanctioned Jurisdiction;
placed; or (ii) a notice regarding the Lot
the blockchain.
(ii) In the case of NFTs, in addition to applicable) are not, nor are you (or 5. INDEMNITY has been posted on our website after toward the total bid count displayed on (iii) The Buyer also must pay as part and (4) your payment in cryptocurrency
the above and except for the express your principal, if applicable) owned (in the bid was placed. Other than in the the Online Platform. of the Purchase Price any applicable (iii) Any payment in cryptocurrency will not cause (or otherwise result in)
representations and warranties given whole or in part), controlled, or acting You shall indemnify and hold us, foregoing limited circumstances, you sales tax, compensating use tax, VAT, must be made within ten (10) business us, Sellers, or anyone else to violate
by the Seller and the Authenticity on behalf of, an entity or individual each Sotheby’s Group Company, agree that any bid you place, regardless (e) The auctioneer (or, in a timed consumption tax, goods or services tax days of your receipt of the invoice any Sanctions, anti-money laundering,
from us, and payment must be made
auction, the online system) may
Guarantee, which we, as principal, that is: (1) the subject of economic our and their respective officers and of the means by which you have done so, or other indirect taxes, luxury tax, excise anti-terrorism, anti-bribery or anti-
provide to the Buyer, neither we nor sanctions, embargoes or other trade employees, and the Seller harmless is final and you will not be permitted to refuse or reject any bid, including bids tax, and duties or tariffs (collectively, between the hours of 9:00am and corruption laws, or any other applicable
the Seller make any representations restrictions in any jurisdiction, including against any and all claims, causes of amend or retract it. For all auctions and that have previously been accepted, “Taxes”), as well as any applicable artist 12:00pm Eastern Time, Monday laws. We may, in our sole discretion,
withdraw any Lot, or reopen or continue
through Friday (and not on a U.S. public
or warranties as to the following: (1) those administered and enforced by action, liabilities, damages, losses, and sales, should your bid be successful, you the bidding (including after the fall of resale right royalty, on the purchase of a holiday). refuse payment in cryptocurrency from
whether the NFT or any Referenced the United States, European Union expenses (including but not limited to irrevocably agree to pay the full Purchase Lot where and as required by applicable any Buyer if we reasonably determine
Content is subject to copyright; (2) the or any of its member states, United reasonable attorneys’ fees), arising out Price and any applicable Buyer’s the hammer or, in a timed auction, the law. We will collect any applicable Taxes (iv) Payment must be made from an any of the Buyer’s representations or
close of a Lot). If the Reserve for a Lot is
nature, character, contents, condition, Kingdom, United Nations Security of or in connection with any inaccuracy, Expenses. We are not responsible for not met, the auctioneer may withdraw and artist resale right royalty on the account or digital wallet in your name warranties are, or would be as a result of
behavior, operation, performance, Council, or other applicable sanctions incompleteness or breach of any of any errors that you make or that are the Lot from sale, and the auctioneer purchase of a Lot where and as required maintained with one of the following such payment, inaccurate, incomplete
security, integrity, metadata, authority (collectively, “Sanctions”), or your representations or warranties or made through your Sotheby’s account in by applicable law. The Buyer shall pay platforms: (1) Coinbase Custody or breached.
persistence, quality, technical details (2) located, organized, or resident in a breach of your obligations under these placing a bid on a Lot. or online system will announce that the Purchase Price in full without any Trust; (2) Coinbase, Inc. (including (viii) We shall have no liability
the withdrawn Lot has been “passed”,
or terms of the smart contract, NFT country or territory that is the subject Conditions of Business for Buyers to the 7. CONDUCT OF AN AUCTION “withdrawn”, “returned to owner,” deduction for taxes of any kind, unless Coinbase, Coinbase Pro and Coinbase for any payment made by you in
or the Referenced Content, including of Sanctions (including Crimea, Cuba, fullest extent permitted by law. “unsold,” “bought-in” or the equivalent. such deduction is required by law. In Prime accounts); (3) Fidelity Digital cryptocurrency that is not received by
without limitation any further iterations Iran, North Korea, Syria, the Russian 6. BIDDING (a) An auction is by its nature fast- any such case, the amount due to us Assets Services, LLC; (4) Gemini us for whatever reason.
of the same; (3) that the smart Federation and Belarus) (collectively, moving and bidding may progress very (f) In the case of error or dispute with from the Buyer will be increased to an Trust Company, LLC; or (5) Paxos
contract, NFT or Referenced Content “Sanctioned Jurisdictions”); (a) You must create an account and quickly. In a live auction, the auctioneer respect to bidding, either during or after amount that after deduction for any Trust Company, LLC. Partial payments (ix) You acknowledge the risks inherent
or the delivery mechanism for the (vii) you (and your principal, if provide the requested information in will commence and advance the the auction, we in our sole discretion such taxes leaves an amount equal to from multiple digital wallets will not to the use of cryptocurrency, including
NFT does not contain vulnerabilities, applicable) are currently in compliance, order to bid. We may require financial bidding at levels and in increments the may refuse any bid, withdraw a Lot, the Purchase Price. be accepted, and you will be required without limitation the risk of faulty
viruses or malware or other harmful and for the past five years have references, guarantees, deposits auctioneer considers appropriate. The determine who the Buyer is, continue (iv) Payment of the Purchase Price to provide documentation reasonably or insufficient hardware, software,
components, or that either will function or other security, as we determine auctioneer has discretion to vary bid or re-open the bidding, cancel the sale requested to confirm that you own the and internet connections; the risk of
complied, with applicable Sanctions, for a Lot and any Buyer›s Expenses
236 SOTHEBY’S COMPLETE CATALOGUING AVAILABLE AT SOTHEBYS.COM/N11074 237