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BUYING AT AUCTION  may be compensated for providing   known until after the digital catalogue     Cryptocurrency Payments  art. However, the identity of the seller or   for sale, the auctioneer will execute the   and an overhead premium will be added   Payment by Check  Please contact
 the irrevocable bid by receiving a   is initially available for viewing, then   previous owners may not be disclosed   bid on your behalf, making every effort   to the hammer price and are payable   Post Sale Services for information
 The following will help in understanding   contingent fee, a fixed fee or both. From   Sotheby’s will notify bidders that an   We will accept cryptocurrency as   for a variety of reasons.  For example,   to purchase the item for as little as   by the purchaser as part of the total   regarding payment by check.
 the auction buying process as well   time to time, a Sotheby’s shareholder   interested party may bid on the lot by   payment for lots with this symbol,   such information may be excluded to   possible and never exceeding your limit.   purchase price. The applicable buyer’s
 as some of the terms and symbols   may be an irrevocable bidder. If the   one or more of the following means: the   within the parameters specified in the   accommodate a seller’s request for   This service is free and confidential.  premium and overhead premium rates   Payment by Wire Transfer   To pay for
                                                                                        a purchase by wire transfer, please
 Conditions of Business for Buyers (or
 commonly used in an auction catalogue.   irrevocable bidder is the successful   lot’s specific webpage will be updated to   confidentiality or because the identity of   Advance Bidding for Live Auctions   are as set forth in the Conditions of   refer to the payment instructions on
 All bidders should read the Conditions   bidder, any contingent fee, fixed fee or   include the  interested parties symbol,   where applicable, in the Conditions   prior owners is unknown given the age   Business for Buyers.
 of Business for Buyers, as well as the   both (as applicable) for providing the   a notice will be added to the Sotheby’s   of Sale and Additional Conditions of   of the work of art.  For certain live sales, where Advance   the invoice provided by Sotheby’s or
 Glossary or any other notices. By   irrevocable bid may be netted against   webpage for the auction, or a pre-sale   Sale for Payment by Cryptocurrency)   Specialist Advice Prospective   Bids are accepted, if you submit an   Currency Board As a courtesy to   contact Post Sale Services to request
                                                                                        instructions.
                                                               bidders, a currency board is operated
                                      “Advance Bid” (as described above in
 applicable to the sale and only on the
 bidding at auction, bidders are bound by   the irrevocable bidder’s obligation to   or pre-lot announcement will be made   bidders may be interested in specific   “BEFORE THE AUCTION”), and your   in many salesrooms. It displays the
 the Conditions of Business for Buyers,   pay the full purchase price for the lot   indicating that an interested party may   terms and conditions set out therein   Sales and Use Tax New York sales tax is
 as amended by any oral announcement   and the purchase price reported for the   bid on the lot.  as of the date of the sale. Please review   information not included in the   bid is not executed up to its maximum   lot number and current bid in both   charged on the hammer price, buyer’s
 or posted notices.   lot shall be net of any such fees. From   ◉  Restricted Materials  those terms and conditions if you are   catalogue description of a lot. For   value before the live auction begins,   U.S. dollars and foreign currencies.   premium, overhead premium and
 interested in paying in cryptocurrency,
                                                               Exchange rates are approximations
            additional information, please contact
                                      your bid will continue to be executed
 time to time, Sotheby’s may enter into                                                 any other applicable charges on any
 1.  SYMBOL KEY   irrevocable bid agreements that cover   Lots with this symbol have been   and contact Post Sale Services for more   either a Sotheby’s specialist in charge   automatically on your behalf during the   based on recent exchange rate   property picked up or delivered in New
 □  Reserves  multiple lots. In such instances, the   identified at the time of cataloguing as   information.  of the sale, or Sotheby’s Client Services   live auction up to your predetermined   information and should not be relied   York State, regardless of the state or
                                                               upon as a precise invoice amount.
                                      maximum bid. You may also continue to
            Department. You may also request a
 compensation Sotheby’s will pay the   containing organic material which may   2.  BEFORE THE AUCTION  country in which the purchaser resides
 Unless indicated by a box (□), all lots   irrevocable bidder is allocated to the lots   be subject to restrictions regarding   condition report from the specialist in   bid via the Online Platforms at the next   Sotheby’s assumes no responsibility   or does business. Purchasers who wish
 in this catalogue are offered subject to   for which the irrevocable bidder is not   import or export. The information is   Bidding in advance of the live auction     charge.  increment above your maximum bid.   for any error or omission in foreign or   to use their own shipper who is not a
 a reserve. A reserve is the confidential   the successful purchaser. Under such   made available for the convenience of   For certain sales, you may bid in   Viewing Property will be available for   Online bidding may not be available for   United States currency amounts shown.  considered a “common carrier” by the
 minimum hammer price at which a lot   circumstances, the total compensation   bidders and the absence of the symbol   advance of the live auction (“Advance   viewing at an exhibition of the auction   Premium Lots.  Results  Sale results are available on   New York Department of Taxation and
 will be sold. The reserve is generally   to the irrevocable bidder will not exceed   is not a warranty that there are no   Bids”) on sothebys.com or the   property or by appointment only at   In Person Bidding for Live Auctions   sothebys.com and on the Sotheby’s   Finance will be charged New York sales
 set at a percentage of the low estimate   the total buyer’s premium and other   restrictions regarding import or export   Sotheby’s App. In order to do so, you   our New York premises or such other   For the most up-to-date information   App.  tax on the entire charge regardless of
 and will not exceed the low estimate of   amounts paid to Sotheby’s in respect   of the Lot. Please also refer to the   must register an account with Sotheby’s   location as we may indicate from time   regarding in person bidding, please   the destination of the property. Please
 the lot. If any lots in the catalogue are   of any lots for which the irrevocable   section on Endangered Species in the   and provide requested information.   to time as indicated on the webpage for   call Sotheby’s or visit Sothebys.com.   International Auctions If you need   refer to “Information on Sales and Use
 offered without reserve, such lots will be   bidder is not the successful bidder. If   information on Buying at Auction.  Once you have done so, navigate to   the sale.   Bidders are encouraged to submit bids   assistance placing bids, obtaining   Tax Related to Purchases at Auction”.
 designated by a box (□). If every lot in a   this auction has a printed catalogue,   your desired lot, and click the “Place   online on Sothebys.com or through the   condition reports or receiving auction
 catalogue is offered without a reserve,   a PDF catalogue or both and the   ∏  Monumental  Bid” button. You may bid at or above   Salesroom Notices Salesroom notices   Sotheby’s App.  results for a Sotheby’s sale outside   Collection and Delivery
 the Conditions of Business for Buyers   irrevocable bid is not secured until after   Lots with this symbol may, in our   the starting bid displayed on the Online   amend the catalogue description after   the United States, please contact   Post Sale Services
 will so state and this symbol will not be   such catalogue is finalized or if there is   opinion, require special handling or   Platforms. Please note that we reserve   our catalogue is available. They are   Telephone Bidding for Live Auctions In   our International Client Services
 used for each lot.  the right to amend the starting bid prior   announced by the auctioneer and/or   some circumstances, we offer the   Department.   + 1 212 606 7444
 no printed catalogue or PDF catalogue   shipping services due to size or other   posted on the sale page. Please take   ability to place bids by telephone
 ○  Guaranteed Property   and the irrevocable bid is not secured   physical considerations. Bidders are   to the start of the live auction. You may   note of them.  live to a Sotheby’s representative on   4.  AFTER THE AUCTION  FAX: + 1 212 606 7043
 until after the digital catalogue is initially   advised to inspect the lot and to contact   also input your maximum bid which,
 The seller of lots with this symbol has   available for viewing, then Sotheby’s   Sotheby’s prior to the sale to discuss   upon confirmation, will be executed   Registration Sotheby’s may require   the auction floor. Please contact the   Payment If your bid is successful,   uspostsaleservices@sothebys.com
 been guaranteed a minimum price from   will notify bidders that there is an   any specific shipping requirements.  automatically up to this predefined   such necessary financial references,   Bid Department prior to the sale to   your invoice will be mailed to you. The   All collections and deliveries for
 one auction or a series of auctions.   irrevocable bid on the lot by one or more   maximum value, in response to other   guarantees, deposits and/or such other   make arrangements or to answer any   final price is determined by adding the   purchased property will be handled by
 This guarantee may be provided by   of the following means:  the lot’s specific   ✧  Premium Lot  bids, including bids placed by Sotheby’s   security, in its absolute discretion, as   questions you may have. Telephone   buyer’s premium, overhead premium   Post Sale Services in coordination with
 Sotheby’s or jointly by Sotheby’s and   webpage will be updated to include the    In order to bid on “Premium Lots”   on behalf of the seller up to the amount   security for your bid.    bids are accepted only at Sotheby’s   and any other applicable charges to   purchasers after the auction. Unless
 a third party. Sotheby’s and any third   irrevocable bid symbol, a notice will   (in print catalogue or ✧ in the lot’s   of the reserve (if applicable). The   If you are not successful on any lot,   discretion and at the caller’s risk. Calls   the hammer price on a per-lot basis.   otherwise agreed by Sotheby’s, all
 parties providing a guarantee jointly   be added to the Sotheby’s webpage   specific webpage) you may be   current leading bid will be visible to all   Sotheby’s will arrange for a refund   may also be recorded at Sotheby’s   Sales tax, where applicable, will be   property must be removed from our
 with Sotheby’s benefit financially if   for the auction, or a pre-sale or pre-lot   required to complete a Premium Lot   bidders; the value and status of your   (subject to any right of set off) of the   discretion. By bidding on the telephone,   charged on the entire amount. Payment   or our vendor’s premises (as indicated
 a guaranteed lot is sold successfully   announcement will be made indicating   pre-registration application. You must   maximum bid will be visible only to you.   deposit amount paid by you without   prospective buyers consent thereto.   is due in full immediately after the sale.   on the invoice) by the purchaser at his
 and may incur a loss if the sale is not   that there is an irrevocable bid on the   arrange for Sotheby’s to receive your   If the status of your bid changes, you will   interest within 14 working days of the   Online Bidding  Bidders are   However, under certain circumstances,   expense not later than 30 calendar
 successful. A third party providing a   lot. From time to time, Sotheby’s or any   pre-registration application at least   receive notifications via email and push   date of the sale. Any exchange losses   encouraged to submit bids online on   Sotheby’s may, in its sole discretion,   days following the close of the auction.
 guarantee jointly with Sotheby’s may   affiliated company may provide the   three working days before the sale.   (if you have enabled push notifications)   or fees associated with the refund shall   Sothebys.com or through the Sotheby’s   offer bidders an extended payment   As a reminder your property cannot
 provide an irrevocable bid, or otherwise   irrevocable bidder with financing related   Please bear in mind that we are unable   leading up to the live auction. You   be borne by you. Registration to bid on   App. For information about registering   plan. Such a payment plan may provide   be released until payment has been
 bid, on the guaranteed property. If this   to the irrevocable bid. In addition, from   to obtain financial references over   may raise your maximum bid at any   Premium Lots  must be done at least 3   to bid on sothebys.com or through the   an economic benefit to the bidder.   received and cleared.
 auction has a printed catalogue, a PDF   time to time, an irrevocable bidder   weekends or public holidays. Sotheby’s   time in advance of the live auction.   business days prior to the sale.  Sotheby’s App, please see sothebys.  Credit terms should be requested at
 catalogue or both and the guaranteed   may have knowledge of the amount of   decision whether to accept any pre-  Please note in certain circumstances,   com. Online bidding may not be   least one business day before the sale.   Shipping Services Sotheby’s offers
 property symbol for a lot is not included   a guarantee. If the irrevocable bidder   registration application shall be final. If   clients who have been outbid may be   3.  DURING THE AUCTION  available for Premium Lots.  However, there is no assurance that an   a comprehensive shipping service to
 in such catalogue or if there is no   is advising anyone with respect to the   all lots in the catalogue are “Premium   reinstated as the leading bidder and will   extended payment plan will be offered.   meet all of your requirements. If you
 printed catalogue or PDF catalogue   lot, Sotheby’s requires the irrevocable   Lots”, a Special Notice will be included   receive notification via email or push   The Auction Auctions are open to the   Employee Bidding Sotheby’s   Please contact Post Sale Services or   received a shipping quotation or have
            public (subject to any governmental
 and the guaranteed property symbol   bidder to disclose his or her financial   to this effect and this symbol will not   notifications (if enabled on your device).   health or safety restrictions) without   employees may bid in a Sotheby’s   the specialist in charge of the sale for   any questions about the services we
 for a lot is not included at the time the   interest in the lot. If an agent is advising   be used.  any admission fee or obligation to   auction only if the employee does not   information on credit arrangements   offer please contact us.
 digital catalogue is initially available   you or bidding on your behalf with   The Catalogue  The catalogue will   know the reserve and if the employee   for a particular lot. Please note that   Collecting your Property All collections
 for viewing, then Sotheby’s will notify   respect to a lot identified as being   ⊖  US Import Tariff  help familiarize you with property being   bid. The auctioneer introduces the   fully complies with Sotheby’s internal   Sotheby’s will not accept payments for   and deliveries for purchased property
            objects for sale — known as “lots”
 offered at the designated auction.
 bidders that there is a guarantee on   subject to an irrevocable bid, you should   Please note that this lot is subject to an   — in numerical order as listed in the   rules governing employee bidding.   purchased lots from any party other   will be handled by Post Sale Services
 the lot by one or more of the following   request that the agent disclose whether   import tariff. The amount of the import   Prospective bidders should consult   catalogue. Unless otherwise noted   US Economic Sanctions The United   than the purchaser, unless otherwise   in coordination with purchasers after
 means: the lot’s specific webpage will   or not he or she has a financial interest   tariff due is a percentage of the value   sothebys.com for the most up to date   States maintains economic and trade   agreed between the purchaser and   the auction. Unless otherwise agreed
 be updated to include the guaranteed   in the lot.  declared upon entry into the United   cataloguing of the property in this   in the catalogue, on the sale page or   sanctions against targeted foreign   Sotheby’s prior to the sale.  by Sotheby’s, all property must be
            by an announcement at the auction,
 catalogue.
 property symbol, a notice will be   States. The amount of the import tariff   Sotheby’s acts as agent on behalf of   countries, groups and organizations.   Payment by Cash It is against   removed from our or our vendor’s
 added to the Sotheby’s webpage for   ⊻  Interested Parties   is not based on the final hammer price.   Estimates Each lot in the catalogue is   the seller and does not permit the seller   There may be restrictions on the import   Sotheby’s general policy to accept   premises (as indicated on the invoice)
 the auction, or a pre-sale or pre-lot   Lots with this symbol indicate that   The buyer should contact Sotheby’s   given a low and high estimate, indicating   into the United States of certain items   by the purchaser at his expense not
 announcement will be made indicating   parties with a direct or indirect interest   prior to the sale to determine the   to a prospective buyer a range in which   to bid on his or her own property. It is   originating in sanctioned countries,   payments in the form of cash or cash   later than 30 calendar days following
            important for all bidders to know that
                                                               equivalents.
 that there is a guarantee on the lot.  in the lot may be bidding on the lot,   amount of the import tariff. If the buyer   the lot might sell at auction. When   the auctioneer may open the bidding on   including Cuba, Iran, North Korea and   the close of the auction. As a courtesy to
 △  Property in which Sotheby’s has an   including (i) the beneficiary of an estate   instructs Sotheby’s to arrange shipping   possible, the estimate is based on   any lot by placing a bid on behalf of the   Sudan. The purchaser’s inability to   Payment by Credit Cards Sotheby’s   purchasers who come to Sotheby’s to
                                                               accepts payment by credit card for Visa,
 Ownership Interest  selling the lot, or (ii) the joint owner   of the lot to a foreign address, the buyer   previous auction records of comparable   seller. The auctioneer may further bid   import any item into the US or any   collect property, Sotheby’s will assist in
 of a lot. If the interested party is the   will not be required to pay the import   pieces. The estimates are determined   on behalf of the seller, up to the amount   other country as a result of these   MasterCard, and American Express   the packing of lots, although Sotheby’s
 Lots with this symbol indicate that   successful bidder, they will be required   tariff. If the buyer instructs Sotheby’s to   several months before a sale and are   of the reserve, by placing responsive   or other restrictions shall not justify   only. Credit card payments may not   may, in the case of fragile articles,
 Sotheby’s owns the lot in whole or in   to pay the full buyer’s premium and   arrange shipping of the lot to a domestic   therefore subject to change upon   or consecutive bids for a lot. The   cancellation or rescission of the sale   exceed $50,000 per sale. Payment by   choose not to pack or otherwise handle
 part or has an economic interest in the   overhead premium. In certain instances,   address, or if the buyer collects the   further research of the property, or to   or any delay in payment. Please check   credit card may be made (a) online   a purchase.
 lot equivalent to an ownership interest.  reflect market conditions or currency   auctioneer will not place consecutive   at https://www.sothebys.com/en/
 interested parties may have knowledge   property in person, or if the buyer   bids on behalf of the seller above the   with the specialist department if you   If you are using your own shipper to
 ⋑  Irrevocable Bids  of the reserve. If this auction has a   arranges their own shipping (whether   fluctuations. Estimates should not   reserve.  are uncertain as to whether a lot is   invoice-payment.html, (b) through the   collect property from Sotheby’s, please
 printed catalogue, a PDF catalogue or   domestically or internationally), the   be relied upon as a representation or   subject to these import restrictions, or   Sotheby’s App, (c) by calling in to Post
 Lots with this symbol indicate that   both and the interested party’s possible   buyer will be required to pay the import   prediction of actual selling prices.   Absentee Bidding for Live Auctions   any other restrictions on importation or   Sale Services at +1 212 606 7444, or (d)   provide a letter of authorization and
 a party has provided Sotheby’s with   participation in the sale Is not known   tariff. The import tariff is included in the   If you do not wish to bid online during   exportation.  in person at Sotheby’s premises at the   kindly instruct your shipper that they
 an irrevocable bid on the lot that   until after such catalogue is finalized or   purchase price and, where applicable,   Provenance In certain circumstances,   a live auction, you may place your bid   address noted in the catalogue (subject   must provide a Bill of Lading prior to
 will be executed during the sale at   if there is no printed catalogue or PDF   sales tax will be added to the purchase   Sotheby’s may include in the catalogue   ahead of time, either via sothebys.  Hammer Price and the Buyer’s   to any governmental health or safety   collection. Both documents must be
 a value that ensures that the lot will   catalogue and the interested party’s   price as per our Sales and Use Tax   the history of ownership of a work of   com or the App, or by submitting your   Premium and the Overhead Premium    restrictions). Please contact Post Sale   sent to Post Sale Services prior to
 sell. The irrevocable bidder, who may   possible participation in the sale Is not   section.  art if such information contributes to   bid in writing to the Bids Department.   For lots which are sold, the last price for   Services for more information regarding   collection.
 bid in excess of the irrevocable bid,   scholarship or is otherwise well known   Once the live auction opens, when the   a lot as announced by the auctioneer is   paying in person.
 and assists in distinguishing the work of
            lot that you are interested in comes up   the hammer price. A buyer’s premium
 242  SOTHEBY’S  COMPLETE CATALOGUING AVAILABLE AT SOTHEBYS.COM/N11074                                      243
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