Page 243 - Sotheby's Asia Week March 2024 Chinee Art

(i) Experiences will be fulfilled by the relevant entity 4. Buyer Representations and Warranties (xi) your purchase will not cause (or otherwise result Bidders; the value and status of your Advance Bid will auctioneer and Sotheby’s representatives may further where and as required by applicable law. We will collect
or entities specified in its description in the Catalogue. (a) You represent and warrant to us and the Seller that in) us, Sellers, or anyone else to violate any Sanctions, be visible only to you, unless it is the leading bid. Once bid by placing successive or consecutive bids for a any applicable Taxes and artist resale right royalty
We do not plan, host, operate, fulfill, endorse, verify, at all relevant times: anti-money laundering, anti-terrorism, or anti-bribery the live auction begins, the auctioneer will open bidding Lot up to the amount of the Reserve, or if there is an on the purchase of a Lot where and as required by
vouch for, investigate or vet any Experience. For or anti-corruption laws; and at the current leading bid. The system will continue to irrevocable bid on the Lot, up to the amount of the applicable law. The Buyer shall pay the Purchase Price
each Experience, any incidental costs and expenses (i) your bids on any Lot are genuine and are not the (xii) you have full legal authority without any further bid on your behalf up to your predetermined maximum irrevocable bid. In a timed auction, such bids will be in full without any deduction for taxes of any kind,
such as fees for travel, food or lodging are the sole product of any collusive or other anti-competitive action or other party’s consent to enter into and bid, or you may continue to bid via the Online Platforms counted toward the total bid count displayed on the unless such deduction is required by law. In any such
responsibility of the Buyer unless otherwise expressly agreement and are otherwise consistent with any perform under these Conditions of Business for Buyers during the live auction at the next increment. Online Platform. case, the amount due to us from the Buyer will be
stated in the Experience description. applicable antitrust laws; increased to an amount that after deduction for any
and to give these representations and warranties; if you (g) All bidding will be in the currency of the sale (e) The auctioneer (or, in a timed auction, the online
(j) The Buyer is solely responsible for identifying (ii) your performance under these Conditions of are an entity, the individual bidding on your behalf is location. As a courtesy to Bidders, a currency board system) may refuse or reject any bid, including bids such taxes leaves an amount equal to the Purchase
and obtaining any necessary export, import, firearm, Business for Buyers has not and will not violate any authorized to do so and the entity is duly incorporated is operated in many salerooms for live auctions for that have previously been accepted, withdraw any Lot, Price.
endangered species or other permit for a purchased applicable law, regulation or code in any jurisdiction; or formed, validly existing and in good standing in the informational purposes only. Online Bidders will not be or reopen or continue the bidding (including after the (iv) Payment of the Purchase Price for a Lot and any
Lot. Any symbols or notices in the Catalogue reflect (iii) regarding any Lots containing alcoholic beverages, jurisdiction where it is incorporated or formed. able to see any such currency conversion board that fall of the hammer or, in a timed auction, the close of a Buyer’s Expenses is due from the Buyer in the currency
our reasonable opinion at the time of cataloguing and where required by applicable law, you are properly (b) We may, in our sole discretion, rescind the sale may be displayed in the auction room. Lot). If the Reserve for a Lot is not met, the auctioneer of the relevant sale (except to the extent permitted in
are included for informational purposes only. Without licensed, permitted or otherwise authorized to of a Lot if we reasonably determine that (i) any of the (h) We reserve the right to refuse or revoke permission may withdraw the Lot from sale, and the auctioneer Condition 8(b)) immediately upon conclusion of the
prejudice to Condition 3(k), neither we nor the Seller purchase, receive, possess and/or cause to transport Seller’s representations or warranties is inaccurate, to bid before or during a sale for any reason. For or online system will announce that the withdrawn Lot auction, notwithstanding any requirements for export,
make any representations or warranties as to whether alcoholic beverages; incomplete or breached; or (ii) the sale has subjected live auctions with bidding in person, we may refuse has been “passed”, “withdrawn”, “returned to owner,” import or other permit. The Buyer’s obligation to pay
any Lot is subject to export or import restrictions or or might subject us or the Seller to liability. admission to the auction. For timed auctions, we also “unsold,” “bought-in” or the equivalent. the full Purchase Price and any applicable Buyer’s
any embargoes. The denial of any permit or license (iv) your purchase of a Lot and, if you are acting as reserve the right to deactivate your account at any time (f) In the case of error or dispute with respect to Expenses is absolute and unconditional and is not
will not justify cancellation or rescission of the sale an agent on behalf of a principal, the arrangement 5. Indemnity prior to, during, or after an auction. bidding, either during or after the auction, we in our subject to any defenses, setoffs or counterclaims of
or excuse any delay in payment. We will not deliver a between you and your principal, will not facilitate tax You shall indemnify and hold us, each Sotheby’s sole discretion may refuse any bid, withdraw a Lot, any kind whatsoever.
firearm to a Buyer unless the Buyer has first supplied crimes; Group Company, our and their respective officers and (i) For timed auctions, live auctions with Advance determine who the Buyer is, continue or re-open the (v) We will not accept payment from a source
evidence to our satisfaction of compliance with this (v) you have no knowledge or reason to suspect that employees, and the Seller harmless against any and Bidding, and online sales, you may cancel a bid after bidding, cancel the sale of a Lot, or re-offer and re-sell a other than the Buyer. If you are registered to bid as
Condition. (1) the funds used to purchase a Lot are connected all claims, causes of action, liabilities, damages, losses, you place it only if (i) the description of or the condition Lot (including after the fall of the hammer or, in a timed a company, your company will need to pay for any
(k) DISCLAIMER OF WARRANTIES: with the proceeds of criminal activity, or (2) you or and expenses (including but not limited to reasonable report for the Lot has been materially revised after the auction, the close of a Lot), and take such other action purchases in the name of the company via an accepted
your principal, if applicable (or, if you are an entity, any attorneys’ fees), arising out of or in connection with bid was placed; or (ii) a notice regarding the Lot has as we reasonably deem appropriate. In the case of any payment method. Partial payment for a Lot is not
(i) All Lots are offered for sale “AS IS,” without any person(s) or entity(ies) with a beneficial or ownership any inaccuracy, incompleteness or breach of any of been posted on our website after the bid was placed.
guarantee, representations or warranties by us or interest in you), are under investigation, charged with, your representations or warranties or breach of your Other than in the foregoing limited circumstances, you dispute, our sale record will be absolute and final. In the permitted.
event of any discrepancy between any online records or
the Seller, except for the express representations and or convicted of any substantive or predicate money obligations under these Conditions of Business for agree that any bid you place, regardless of the means (vi) Title in a purchased Lot will not pass to the Buyer
warranties given by the Seller and the Authenticity laundering or economic sanctions crime, terrorist Buyers to the fullest extent permitted by law. by which you have done so, is final and you will not be messages provided to you and our sale record, our sale until we have received the full Purchase Price in cleared
record will prevail. Where we decide to cancel the sale
Guarantee, which we, as principal, provide to the Buyer. activity, tax evasion or act in violation of any anti- permitted to amend or retract it. For all auctions and funds. We will release a Lot to the Buyer or Buyer’s
We and the Seller disclaim all implied warranties, bribery or anti-corruption laws or regulations; 6. Bidding sales, should your bid be successful, you irrevocably of a Lot or to re-offer and sell a Lot following an error or agent after we have received from the Buyer the full
dispute with respect to bidding, we will notify the Buyer
including but not limited to merchantability and (a) You must create an account and provide the agree to pay the full Purchase Price and any applicable Purchase Price and any applicable Buyer’s Expenses
fitness for a particular purpose, except in so far (vi) you (and your principal, if applicable) are not, requested information in order to bid. We may require Buyer’s Expenses. We are not responsible for any of such decision as soon as reasonably practicable. in cleared funds and appropriate identification of
as such obligations cannot be excluded by law. nor are you (or your principal, if applicable) owned (in financial references, guarantees, deposits or other errors that you make or that are made through your (g) Subject to Conditions 7(e) and 7(f), the Buyer the Buyer and Buyer’s agent (if any), unless we are
Neither we nor the Seller give you any guarantee, whole or in part), controlled, or acting on behalf of, an security, as we determine necessary or appropriate. Sotheby’s account in placing a bid on a Lot. will be: in a live auction, the highest Bidder accepted prevented from doing so by an event beyond our
representation or warranty as to the correctness of entity or individual that is: (1) the subject of economic 7. Conduct of an Auction for a Lot at the fall of the hammer; in a timed auction, control. Any earlier release does not affect the passing
the Catalogue or other images or descriptions of the sanctions, embargoes or other trade restrictions in (b) To bid on a Lot containing an NFT, you must have the highest Bidder accepted for a Lot on the close of of title or the Buyer’s unconditional obligation to pay
condition, completeness, size, quality, rarity, value, any jurisdiction, including those administered and a digital wallet capable of supporting and accepting (a) An auction is by its nature fast-moving and bidding the Lot; in the case of a Bidder bidding as agent, such the full Purchase Price and any applicable Buyer’s
importance, medium, frame, provenance, exhibition enforced by the United States, European Union or the NFT. may progress very quickly. In a live auction, the Bidder’s principal will be the Buyer. This means that, Expenses.
history, or literary or historical relevance of any Lot, any of its member states, United Kingdom, United (c) To bid on any auction Lot designated as a auctioneer will commence and advance the bidding subject to Condition 7(e), the sale contract between (b) Payment in cryptocurrency: for Lots eligible for
and no statement anywhere, whether oral or written, Nations Security Council, or other applicable sanctions “Premium Lot,” you must complete the required at levels and in increments the auctioneer considers the Buyer and the Seller is concluded on the striking payment in cryptocurrencies, payments made in
will be deemed such a warranty, representation or authority (collectively, “Sanctions”), or (2) located, Premium Lot pre-registration application. We must appropriate (including by reference to any advance of the auctioneer’s hammer in a live auction, or on cryptocurrency shall be subject to the terms in this
assumption of liability. Except as expressly set forth organized, or resident in a country or territory that receive your application at least 3 business days prior bids made). The auctioneer has discretion to vary bid the close of a Lot in a timed auction, whereupon the Condition 8(b) in addition to the terms set forth in
elsewhere in these Conditions of Business for Buyers, is the subject of Sanctions (including Crimea, Cuba, to the commencement of the auction, and our decision increments in the auction room and on the telephone Buyer becomes liable to pay the full Purchase Price Condition 8(a) above.
neither we nor the Seller make any representations or Iran, North Korea, Syria, the Russian Federation and whether to accept your application will be final. Online but Bidders using Online Platforms may not be able to and any applicable Buyer’s Expenses. The sale contract
warranties as to whether any Lot is subject to copyright Belarus) (collectively, “Sanctioned Jurisdictions”); bidding may not be available for Premium Lots. place a bid that is less than a whole bidding increment between the Seller and the Buyer of a Lot will be final at (i) We will accept payment in cryptocurrency only for
or whether the Buyer acquires any copyrights, (vii) you (and your principal, if applicable) are above the previous bid. the end of the auction session. Lots designated as eligible for such in the Catalogue
including but not limited to, any reproduction rights in currently in compliance, and for the past five years (d) We advise Bidders to place their bids directly, (b) In a timed auction, bidding opens at an amount (h) Any post-auction sale of Lots will be made or by any oral or written announcement or notice
any Lot. have complied, with applicable Sanctions, anti-money either in person at the auction (where available) or that is at or below the low estimate for the Lot and pursuant to these Conditions of Business for Buyers. prior to or during the sale, and only in the following
(ii) In the case of NFTs, in addition to the above and laundering, anti-terrorism, and anti-bribery or anti- through our Online Platforms. If you elect to bid or escalates in bid increments that we determine. We may 8. Payment cryptocurrencies: Bitcoin (BTC), Ether (ETH) and USD
to participate in an auction held through an Online
Coin (USDC).
except for the express representations and warranties corruption laws; Platform, you are responsible for making yourself vary the amount of the bid increments during a timed
given by the Seller and the Authenticity Guarantee, (viii) the Purchase Price will not be funded directly aware of all salesroom notices and announcements, auction. Lots will be closed sequentially, either by the (a) Generally. (ii) The amount due will be the cryptocurrency
which we, as principal, provide to the Buyer, neither or indirectly by or from anyone that is the subject which will be available on the Online Platforms. online system or, in some cases, by a live auctioneer. If (i) Buyers will be invoiced after the sale. For online equivalent at the time payment is made of the amount
we nor the Seller make any representations or of Sanctions or located, organized, or resident in a closed by the online system, Lots will close sequentially Bidders, the purchase information shown in the “My invoiced, and Buyer will be responsible for applicable
warranties as to the following: (1) whether the NFT or Sanctioned Jurisdiction; (e) We also accept written bids and telephone bids, in 30-second or one-minute intervals (as indicated on Bids” section of the Sotheby’s App and in the “Account network fees required to successfully conduct the
any Referenced Content is subject to copyright; (2) by arrangement with the Bids Department. A written the sale page) unless a bid is placed within one minute Activity” section of “My Account” on our website is transaction on the blockchain.
the nature, character, contents, condition, behavior, (ix) no party directly or indirectly involved in the bid, also known as an absentee bid, is where a Bidder of a Lot’s scheduled closing time, in which case we provided for your convenience only. In the event of any (iii) Any payment in cryptocurrency must be made
operation, performance, security, integrity, metadata, transaction is the subject of Sanctions or is owned submits a maximum bid ahead of a live auction, will extend the sale of that Lot by two minutes from discrepancy between the online purchase information within ten (10) business days of your receipt of the
persistence, quality, technical details or terms of (in whole or in part) or controlled by any individual or which will be executed on the Bidder’s behalf by the the time of the last bid and such extensions may be and the invoice we send you following the sale, the invoice from us, and payment must be made between
the smart contract, NFT or the Referenced Content, entity that is the subject of Sanctions or otherwise auctioneer at the lowest bid increment possible, as repeated for a maximum period of two hours. The invoice will prevail. We may process payments through the hours of 9:00am and 12:00pm Eastern Time,
including without limitation any further iterations of the located, organized, or resident in a Sanctioned may be determined at the auctioneer’s discretion, and extension of any Lot’s closing time does not affect any third-party service providers, which may post operating Monday through Friday (and not on a U.S. public
same; (3) that the smart contract, NFT or Referenced Jurisdiction, except as expressly authorized in writing never for more than the maximum amount the Bidder other Lot’s closing time; therefore, it is possible that rules related to payment on their respective websites holiday).
Content or the delivery mechanism for the NFT does by the government authority having jurisdiction over indicates. Written bids and telephone bids are offered Lots will close out of numerical Lot order. and change such rules from time to time. For credit
not contain vulnerabilities, viruses or malware or the purchase and with our prior express written as a courtesy for no additional charge, at the Bidder’s (c) With respect to Parcels, at the auctioneer’s card payments, you authorize us, and our third-party (iv) Payment must be made from an account or
other harmful components, or that either will function consent; risk and subject to our other commitments at the discretion, the successful Bidder of the first Lot in service providers, to immediately charge your selected digital wallet in your name maintained with one of the
as any bidder or Buyer expects or without error or (x) if you are acting as agent on behalf of a principal, time of the auction. We will seek to carry out written a Parcel will have the option, but not the obligation, payment method for all amounts presented to you in following platforms: (1) Coinbase Custody Trust; (2)
mistake; (4) the uniqueness of the Referenced Content; you have taken steps reasonably designed to ensure bids, endeavoring to ensure that the first received of to purchase in consecutive order one or more of the checkout and purchase process. Coinbase, Inc. (including Coinbase, Coinbase Pro and
(5) that the NFT is reliable, correctly programmed, compliance with Sanctions, anti-money laundering, identical written bids has priority. We will not accept the remaining Lots in the Parcel, each at the same Coinbase Prime accounts); (3) Fidelity Digital Assets
compatible with your or others’ computer systems, anti-terrorism, and anti-bribery or anti-corruption laws, liability for failure to place written or telephone bids. successful bid price as the first Lot. If any Lots in the (ii) For auction Lots, the Buyer’s Premium and Services, LLC; (4) Gemini Trust Company, LLC; or (5)
up-to-date, error-free, compatible with your digital including but not limited to, conducting appropriate (f) For certain sales, Bidders are permitted to submit Parcel are not purchased, the auctioneer will open the Overhead Premium will be added to the Hammer Price Paxos Trust Company, LLC. Partial payments from
wallet or meeting your requirements, or that defects in due diligence on your principal and screening source of via the Online Platform a maximum bid before the start bidding on the next unsold Lot in the Parcel, and the on a per-Lot basis and are payable by the Buyer as part multiple digital wallets will not be accepted, and we
the NFT can or will be corrected; or (6) the accuracy funds. You will retain and make available upon request of a live auction (an “Advance Bid”). Advance Bids successful Bidder of that Lot will have the option, but of the Purchase Price. may require you to provide documentation to confirm
or reliability of any simulation or videos depicting the the documentation evidencing such due diligence will be executed on your behalf automatically up to not the obligation, to purchase in consecutive order (iii) The Buyer also must pay as part of the Purchase that you own the wallet used to make payment.
intended performance of the NFT or the Referenced for at least five years after the purchase, and all your predefined maximum value in response to other one or more, if any, of the remaining Lots in the Parcel, Price any applicable sales tax, compensating use tax, (v) Payments in cryptocurrency will not be accepted
Content, whether displayed on our websites or on any commissions payable to you for this consignment have bids placed on the Lot, including bids placed by us on each at the newly-established successful bid price. VAT, consumption tax, goods or services tax or other other than in accordance with this Condition 8(b). If
other platform. been authorized by your principal; behalf of the Seller, up to the amount of the Reserve (if indirect taxes, luxury tax, excise tax, and duties or you make payment in cryptocurrency other than in
applicable). The current leading bid will be visible to all (d) The auctioneer (or, in a timed auction, the online tariffs (collectively, “Taxes”), as well as any applicable accordance with Condition 8(b), including where we
system) may open bidding on any Lot by placing a artist resale right royalty, on the purchase of a Lot determine or reasonably believe, in our sole discretion,
bid on behalf of the Seller below the Reserve. The
482 COMPLETE CATALOGUING AVAILABLE AT SOTHEBYS.COM/N11410 483