Page 242 - Sotheby's NYC September 21 2022 Important Chinese Art

introduction or intrusion of malicious to recover the Purchase Price and refund any shipping charges, packing capable of supporting and accepting loss or damage until it is returned to us. on your own behalf and on behalf of not process the reimbursement unless Period. Alternatively, you may use the
code or software; the risk of hacking Buyer›s Expenses for that Lot, or to charges, or fees. the NFT, that you own, and to which (iii) For Lots (or portions of Lots) that your insurer(s), irrevocably release us and until the Lot is returned to us or following model cancellation form:
or unauthorized access to your digital claim damages for the Buyer’s breach (iii) Following the auction, we will you have access. You understand and are NFTs: After transfer of the NFT to and the Seller from all liability for loss of you have supplied us with evidence of To: Sotheby’s [insert the name of the
wallet or information stored therein, or of contract, together with interest and invoice the Buyer, and such invoice may acknowledge that not all digital wallets the digital wallet specified by you, you or damage to such Lot and irrevocably having returned the Lot to us. company within the Sotheby’s Group
of theft or diversion of funds therefrom; the costs of such proceedings on a full include a shipping quote outlining the can support storage of a non-fungible are responsible for secure storage of waive all rights and claims that you (iv) We will make the reimbursement conducting the relevant sale]
volatility and unstable or unfavorable indemnity basis; and Buyer’s shipping costs (the “Buyer’s token, and that if your wallet does not might have against us or the Seller in to the Buyer using the same method
exchange rates; and the risk of (x) release the name and address of Shipping Quote”). For international support storage of the NFT purchased the NFT in the wallet or other storage connection with the same. of payment as the Buyer used for the I/We* hereby give notice that I/We*
mechanism you use to receive and/or
unfavorable regulatory intervention the Buyer to the Seller to enable the Buyers, the Buyer’s Shipping Quote by you, you may lose access to that hold the NFT. You are solely responsible 12. CONSUMER CANCELLATION initial transaction, unless expressly cancel [my/our online purchase of the
and/or tax treatment in relation to Seller to commence legal proceedings will be exclusive of any taxes or duties, NFT. If you fail to provide us with an agreed otherwise. We will not charge following goods[*]][the provision of the
transaction in such currency. We will to recover the amounts due and legal and it is your responsibility to ascertain address for a digital wallet that is for any risks associated with the (a) Timed Auction Cancellation of the Buyer any fee in connection with following delivery services [*]],
have no liability for any of the foregoing. capable of supporting and accepting transferring, creating, holding, storing, Purchase
costs, and in such case, we will take and pay all international duties, custom or use of NFTs or a digital wallet, as processing the reimbursement. Ordered on [*]/received on [*],
9. Consequences of Late- or Non- reasonable steps to notify the Buyer charges, taxes, charges and tariffs the NFT within five business days of applicable, including network failures (i) If you are a “Consumer” (namely (v) We will not reimburse the Buyer for Name of Consumer(s):
the conclusion of the sale, we may,
payment prior to releasing such details to the owed to the appropriate government in our sole discretion, treat the NFT or disruptions; corrupted wallet files; a person acting for purposes that any supplementary costs that arose if
Seller. entity or that otherwise need to be viruses, phishing, bruteforcing, hacking, are wholly or mainly outside of your Address of Consumer(s):
(a) The Buyer is required to pay the as transferred to you for purposes of you chose a type of delivery other than
full Purchase Price for a Lot and any (b) In the event the Buyer fails to pay paid prior to shipment and/or delivery Condition 11(a)(iii), treat the NFT Lot security breaches, mining attacks, or trade, business, craft or profession) the least expensive type of standard Signature of Consumer(s) [only if the
including any third-party charges
who habitually resides in the European
applicable Buyer’s Expenses in cleared any or all of the Purchase Price for a necessary to facilitate shipment. as a Lot for which the Buyer has failed other means of attack against the NFT; Union or United Kingdom and the delivery offered by us or any import notification is in hard copy]
funds within five days of the auction. If Lot and we elect to pay the Seller any Once you have accepted the Buyer’s to pay in full for purposes of Condition risk of losing access to the NFT due to Seller is a “Trader” (namely a Seller duties you incur as a result of you Date:
the Buyer fails to do so without our prior portion or all of the sale proceeds, the 9, and hold you responsible for all loss of private key(s); custodial or buyer returning the Lot to us. We are entitled
agreement, the Buyer will be in default. Buyer acknowledges that we will have Shipping Quote and we have received resulting third-party fees (including, error; regulatory interference in one acting for purposes relating to their to deduct from the reimbursement [*] Delete as appropriate
in full the Purchase Price, Buyer’s
trade, business, craft or profession,
In any such case, without prejudice to all of the rights that the Seller would Expenses and you have paid in full the without limitation, custodial fees, or more jurisdictions; token taxation; whether acting personally or through the amount of any loss in value of 13. EXCLUSIONS AND LIMITATIONS
any rights or remedies the Seller may otherwise have against the Buyer for amount stated in the Buyer’s Shipping insurance, network fees, taxes, transfer personal information disclosure; another person acting in the trader’s the Lot that is caused as a result of OF LIABILITY
have, we may in our sole discretion any such amount, whether at law, in fees, etc.). uninsured losses; failure to provide unnecessary handling by you.
exercise one or more of the following equity, or under these Conditions of Quote by the payment deadline, we (ii) We or the Seller will mint or transfer appropriate maintenance (including name or on the trader’s behalf), then (vi) If you exercise a Consumer (a) Generally
you have the right to cancel your online
will arrange shipment of the Lot to you
rights or remedies in respect of each Business for Buyers. to the address you provided on your the NFT to the digital wallet that you without limitation hosting); and other purchase of goods (except for goods Cancellation Right pursuant to this (i) Neither we nor the Seller will
Lot for which the Buyer has failed to pay (c) A defaulting Buyer will be deemed account following conclusion of the sale. have specified, after you have met the unanticipated risks. Neither we nor the that are personalized or made to the Condition 12 and you paid any amount(s) be liable for errors or omissions in
in full, to the fullest extent permitted to have granted and assigned to us and Seller will not be responsible for any due using cryptocurrency, we may, at our the glossary of terms, if any, or the
by law, in addition to any and all other each other Sotheby’s Group Company Purchased Lots cannot be delivered to conditions in Condition 8 herein and such risks or losses. Buyer’s specifications) (the “Consumer sole discretion, refund you (1) the same Catalogue or other descriptions of the
Cancellation Right”) for any reason
subject to any additional timing or criteria
P.O. boxes, and we are unable to arrange
rights or remedies available to us or the a continuing security interest of first delivery to those locations specified as included in the Catalogue or other (b) Once risk passes to the Buyer, during the period of 14 calendar days amount(s) of the same cryptocurrency Lot, though if we discover a material
Seller by law or in equity: the Buyer irrevocably releases us and
priority in any property or money of or excluded zones in the shipping costs descriptions of the Lot. We and the Seller after you or your designated agent that you paid to us; (2) the amount(s) in error or omission in such materials
(i) store the Lot at our premises or, if owing to such Buyer in the possession, calculator that is available on the Online will transfer the NFT to the wallet address each other Sotheby’s Group Company, (other than the carrier) acquires physical fiat currency that we invoiced to you; or prior to the auction, we will endeavor to
the Lot is an NFT, in our or the Seller’s custody or control of us or any other Platform. If you request delivery of a Lot specified by you and are not responsible our and their respective officers and possession of the Lot or, if the Lot is (3) the fiat currency equivalent, based on provide a correction, time permitting.
digital wallet, or elsewhere at the Sotheby’s Group Company, in each case to any such destination, we reserve the for confirming that you have supplied employees, agents, warehouses and the an NFT, after the date that you have the exchange rate quoted by a financial (ii) We reserve the right to withdraw
Buyer’s sole risk and expense; whether at the time of the applicable right to require you to collect the Lot us with the correct or a valid address. Seller, from any and all claims, causes of submitted payment but before we or the entity designated by us, at the time any Lot before the conclusion of the sale
sale, the default or if acquired at any from us or to arrange delivery of the Lot We and the Seller are not responsible action, liabilities, damages, losses, and Seller have initiated the transfer of the the refund is made of the amount(s)
(ii) cancel the sale of the Lot; expenses (including but not limited to and will have no liability to you for such
time thereafter, and we and each other by a third-party carrier. if the transfer of the NFT to your wallet NFT to the wallet specified by you (the of cryptocurrency that you paid. In no withdrawal. Regarding Experiences,
(iii) set off any amounts owed to the Sotheby’s Group Company may retain (iv) If the Buyer pays the Purchase fails unless such failure is the result of us reasonable attorneys’ fees) for loss of or “Consumer Cancellation Period”). Once, circumstance will you be entitled to we reserve the right to withdraw any
Buyer by a Sotheby’s Group Company and apply such property or money as Price and Buyer›s Expenses but fails to sending the NFT to a wallet address other damage to the Lot. however, we or the Seller have initiated receive any appreciation on the value of Experience before or after the sale, and
against any amounts outstanding from collateral security for the obligations than the one provided by you. (c) Before risk and responsibility for a the transfer of the NFT to the wallet the cryptocurrency that you provided we will have no liability to you for such
the Buyer in respect of the Lot; due to us or to any other Sotheby’s collect a Lot within 30 calendar days of 11. RISK AND RESPONSIBILITY FOR purchased Lot transfers to the Buyer in specified by you, you agree that you will to us as payment in connection with a withdrawal.
the conclusion of the auction, we will
Group Company. We and each other no longer have the right to cancel the refund.
(iv) apply any payments made to us by Sotheby’s Group Company will have store the Lot at the Buyer›s expense LOTS accordance with this Condition 11, we sale under the terms of this Condition. (iii) We offer the Online Platforms as a
the Buyer as part of the Purchase Price all of the rights accorded a secured and risk at our premises or with a third assume liability for loss or damage to a (b) Cancellation of Delivery Services convenience to clients. The application
and Buyer’s Expenses towards such party. Please note that storage charges (a) Risk and responsibility for a Lot, subject to the exclusions set out in To exercise the Consumer Cancellation that enables participation via the Online
Lot or any other Lot purchased by the party under the New York Uniform can be found at https://www.sothebys. purchased Lot will transfer to the Buyer paragraph (d) below. In the event of loss Right in relation to a Lot, the Consumer (i) If you are a Consumer who Platforms is optimized for broadband
habitually resides in the European Union
Commercial Code. A defaulting Buyer
must (1) notify us of intention to cancel
as follows:
Buyer, or to any shortfall on the resale hereby agrees that we and each other com/en/about/services/sothebys- or damage for which we have assumed by a clear statement (e.g. a letter sent or United Kingdom, then you have the connectivity (DSL or cable modem).
of any Lot pursuant to paragraph (viii) Sotheby’s Group Company may file fine-art-storage-facility. Regarding (i) for Lots (or portions of Lots) that liability, we will determine the extent of Broadband or other internet capacity
below, or to any damages suffered by uncollected Lots from a Wine & Spirits are not NFTs in live auctions: on the depreciation to the Lot, if any, caused by by post, fax or email or you may use the right to cancel the contract for any constraints, corporate firewalls and
us as a result of breach of contract by financing statements under the New auction, if a purchased Lot remains earlier of: (1) collection of the Lot, or the loss or damage and compensate the model cancellation form provided in delivery services in connection with other technical problems beyond
York Uniform Commercial Code without
your purchase of a Lot (the “Services
Condition 12(c)) prior to the end of the
st
the Buyer; uncollected after 90 days, we may (2) the 31 calendar day after the sale, Buyer in respect of that loss up to the
the Buyer’s signature. amount of the Purchase Price paid by Consumer Cancellation Period, and (2) Cancellation Right”) for any reason our reasonable control may create
(v) reject future bids from the Buyer or send it to our wine warehouse, upon or if applicable, the expiry of the time the Buyer for the Lot. for Lots that are not NFTs, return the during the period of 14 calendar days difficulties for some users including,
render such bids subject to payment of 10. COLLECTION AND DELIVERY OF which time applicable state and local specified in the special sale information Lot to us in the same condition as when after the conclusion of the contract for example, in relation to accessing
a deposit; PURCHASES sales tax will be charged. The Buyer available on our website, except that (d) We will not be liable for any loss you or your representative received it, for delivery services (the “Services an auction via the Online Platforms
hereby agrees to the Virtual Cellar
risk and responsibility for wine or
(vi) charge interest at the annual (a) The provisions of this Condition Terms of Use, Storage Terms of Use spirits casks will transfer to the Buyer or damage (1) caused by any process by no later than 14 calendar days after Cancellation Period”). and in maintaining continuity of such
undertaken by independent contractors
access. Neither we nor the Seller will be
percentage rate of 6% above the prime 10(a) apply to all Lots (or portions of and Auto-Renewal Policy with regard to upon the fall of the hammer. For any engaged with your consent, including providing notice of intent to cancel. (ii) If you request us to begin liable to you for any failure to execute
rate, but in no event greater than the Lots) that are not NFTs: the storage of such Lot(s), which can Lots stored at a third-party location but not limited to for restoration, (ii) You shall return the Lot or deliver performance of the delivery services
maximum rate permitted by law, from (i) The Buyer is obliged to arrange be found at https://www.sothebyswine. and not available for collection from conservation, framing or cleaning; it to us at such address as we may during the Services Cancellation Period bids through our Online Platforms,
or errors or omissions in connection
the date on which payment is due collection of purchased Lots no later com/ny/storage. our premises, your provision to us of (2) caused to frames or to glass specify for the purpose, without undue and subsequently decide to exercise therewith, including, without limitation,
to the date the Purchase Price and than 30 calendar days after the date instructions authorizing the release covering prints, paintings or other flat delay and in any event no later than 14 your right to cancel the provision errors or failures caused by (1) any loss
relevant Buyer›s Expenses are received of sale, or if applicable, within the (v) If a purchased Lot is not collected to you or your agent shall constitute works; or (3) caused by changes in calendar days from the day after which of services during the Services
in cleared funds (both before and after time stipulated in the relevant sale within six months of the auction, the collection by the Buyer. humidity or temperature (as long as you notify us of your intention to cancel Cancellation Period, you shall pay of connection between you and our
Online Platforms; (2) a breakdown on
Buyer authorizes us, having given
judgement); information available on our website. notice to the Buyer, to arrange a resale (ii) for Lots (or portions of Lots) that we take reasonable care in handling your purchase of the Lot. This deadline us the amount in proportion to the or problem with our Online Platforms
(vii) retain or exercise a lien over (ii) Except as set out in this Condition of the Lot by auction or private sale, are not NFTs in timed auctions: (1) if we the Lot), normal wear and tear, gradual is met if you send back the Lot before value of the services that have been or other technical services; or (3)
any of the Buyer’s property that is in 10(a)(ii), all packing and handling are with estimates and reserves at our dispatch the Lot to the Buyer (using the deterioration or inherent vice or defect the period of 14 calendar days has performed by the time you exercise a breakdown or problem with your
the possession of a Sotheby’s Group at the Buyer›s risk. We will not be liable discretion. Any such sale conducted method of shipping the Buyer specified (including woodworm), war, any act expired. You must bear the direct costs your cancellation right. We will make internet connection, computer, mobile
any reimbursement due to you not later
of returning the Lot. If we arranged for
Company, in which case we will inform for any acts or omissions of third-party by a Sotheby’s Group Company will for the Lot), when the Lot comes into or acts of terrorism (as defined by our device or system.
the Buyer, and we may thereafter packers or shippers. For Lots from be conducted under the standard the physical possession of the Buyer or insurers), nuclear fission, radioactive the Lot to be delivered, we estimate than 14 days after the date on which (iv) We are not liable to you for any acts
arrange the sale of such property and a Wine & Spirits auction where we Conditions of Business for Sellers and the Buyer’s designated agent or (2) if contamination, or chemical, bio- that the cost of returning the Lot by the we are informed about your decision to
apply the proceeds to the amount arrange for domestic shipping at your the Conditions of Business for Buyers, if collection by the Buyer is available, when chemical or electromagnetic weapons. same means is likely to be similar to the cancel the services. We will make the or omissions in connection with the
conduct of the auction or for any matter
reimbursement to you using the same
cost of delivery, but it is not possible for
outstanding; request on your behalf, we will charge any, applicable to the relevant sale. If the the Buyer or the Buyer’s designated If the Lot is an NFT, in addition to the us to be more accurate as to this cost method of payment as you used for relating to the sale of any Lot, other than
(viii) resell the Lot at the Buyer’s you a non-refundable fee at a rate of 1% Lot sells, we will be entitled to deduct agent collects the Lot, except that above, we will not be liable for any loss due to the many variables involved in the initial transaction, unless expressly as set out in the Authenticity Guarantee,
related to damage or corruption to the
expense at auction or by private sale, of the Purchase Price for all domestic from the sale proceeds our standard in either of the foregoing, risk and our worldwide business model and the agreed otherwise. We will not charge or as may be required by applicable law.
with estimates and reserves set at our shipments arranged. Such fee covers seller’s commission and any other responsibility for wine or spirits casks Referenced Content, failure of the NFT means by which a return might be made. any fee in connection with processing (v) The Seller of any Lot is not liable
costs we incur in selling the Lot, and any
to reference the Referenced Content, or
discretion, and in the event such resale property handling and administration will transfer to the Buyer upon the fall of loss of, or other security or persistence the reimbursement. to you for any acts or omissions in
is for less than the sum of the Purchase and bearing liability for loss or damage excess will be remitted to the Buyer. the hammer. If you choose to exercise issues related to, the Referenced (iii) If the foregoing conditions for connection with any matter relating to
Price and Buyer›s Expenses for that to the Property while in our possession. (b) The provisions of this Condition any right you may have to cancel the exercising the Consumer Cancellation (c) To exercise a Consumer or Services
Lot, the Buyer will remain liable for the We will only be liable for breakage or 10(b) apply to all Lots (or portions of contract for the purchase of the Lot (in Content. Right are met, we will reimburse the Cancellation Right, you must notify us the sale of such Lot, other than a breach
of your intention to cancel by a clear
of the express representations and
shortfall together with all costs incurred loss during transit. All packages must be Lots) that are NFTs: accordance with the procedure set out (e) Upon your receipt of payment from Buyer for Purchase Price, if paid, plus warranties given by the Seller.
in such resale; inspected upon receipt and breakage or at Condition 12 below), you acknowledge us for any loss or damage to a Lot in standard delivery charges, if we are statement (e.g. a letter sent by post,
loss reported to us immediately upon (i) In order to receive an NFT, you that the Lot is at your risk and that you required to do so in accordance with the fax or email) prior to the end of the (vi) Unless we own a Lot offered for
(ix) commence legal proceedings delivery of the property. We will not must have a digital wallet that is should therefore insure the Lot against accordance with this Condition 11, you, Consumer Cancellation Right. We will Consumer or Services Cancellation sale, we are not responsible for any
238 SOTHEBY’S COMPLETE CATALOGUING AVAILABLE AT SOTHEBYS.COM/N11074 239