Page 368 - 2019 September 11th Sotheby's Important Chinese Art

6. Bidding We reserve the right to reject 7. Online Bids via BIDnow or other Online from and against any and all liability for
CONDITIONS OF SALE any bid. The highest bidder acknowledged Platforms: Sotheby’s may offer clients loss of or damage to property and any
by the auctioneer will be the purchaser. The the opportunity to bid online via BIDnow, all claims related to loss of or damage to
The following Conditions of Sale and Terms auctioneer has absolute and sole discretion eBay, Invaluable or other Online Platforms the property as of and from and after the
of Guarantee are Sotheby’s, Inc. and the in the case of error or dispute with respect for selected sales. By participating in a time Sotheby’s liability for loss or damage
Consignor’s entire agreement with the to bidding, and whether during or after the sale via any of these Online Platforms, you to the property ceases in accordance
purchaser and any bidders relative to the sale, to determine the successful bidder, to acknowledge that you are bound by these with this paragraph. If any applicable
property listed in this catalogue. re-open the bidding, to cancel the sale or Conditions of Sale as well as the Additional conditions herein are not complied with
The Conditions of Sale, Terms of to re-offer and re-sell the item in dispute. If Terms and Conditions for Live Online by the purchaser, the purchaser will be in
Guarantee, the glossary, if any, and all other any dispute arises after the sale, our sale Bidding (“Online Terms”). By participating default and in addition to any and all other
contents of this catalogue are subject to record is conclusive. In our discretion we in a sale via any Online Platform, Bidders remedies available to us and the Consignor
amendment by us by the posting of notices will execute order or absentee bids and accept the Online Terms, as well as the by law, including, without limitation, the
or by oral announcements made during accept telephone bids and online bids via relevant Conditions of Sale. Online bidding right to hold the purchaser liable for the
the sale. The property will be offered by BIDnow, eBay, Invaluable or other online may not be available for Premium Lots. total purchase price, including all fees,
us as agent for the Consignor, unless the platforms as a convenience to clients who charges and expenses more fully set forth
catalogue indicates otherwise. are not present at auctions; Sotheby’s is 8. Bids Below Reserve If the auctioneer herein, we, at our option, may (x) cancel
By partici pating in any sale, you not responsible for any errors or omissions deter mines that any opening bid is below the sale of that, or any other lot or lots
acknowledge that you are bound by these in connection there with. Prospective the reserve of the article offered, he may sold to the defaulting purchaser at the
terms and conditions. bidders should also consult sothebys.com reject the same and withdraw the article same or any other auction, retaining as
for the most up to date cataloguing of the from sale, and if, having acknowledged liquidated damages all payments made by
1. As Is Goods auctioned are often property in this catalogue. an opening bid, he deter mines that any the purchaser, or (y) resell the purchased
of some age. The authenticity of the By participating in the sale, you represent advance thereafter is insufficient, he may property, whether at public auction or by
Authorship (as defined below) of property and warrant that any bids placed by you, reject the advance. private sale, or (z) effect any combination
listed in the catalogue is guaranteed as or on your behalf, are not the product of thereof. In any case, the purchaser will
stated in the Terms of Guarantee and any collusive or other anti-competitive 9. Purchaser’s Responsibility Subject be liable for any deficiency, any and all
except for the Limited Warranty contained agreement and are otherwise consistent to fulfill ment of all of the conditions set costs, handling charges, late charges,
therein, all property is sold “AS IS” without with federal and state antitrust law. forth herein, on the fall of the auctioneer’s expenses of both sales, our com missions
any representations or warranties by us or By participating in the sale, you hammer, the contract between the on both sales at our regular rates, legal
the Consignor as to merchantability, fitness represent and warrant that: consignor and the purchaser is concluded, fees and expenses, collection fees and
for a particular purpose, the correctness (a) The bidder and/or purchaser is not and the winning bidder thereupon will incidental damages. We may, in our sole
of the catalogue or other description of subject to trade sanctions, embargoes immediately pay the full purchase price discretion, apply any proceeds of sale
the physical condition, size, quality, rarity, or any other restriction on trade in the or such part as we may require. Title in a then due or thereafter becoming due to
importance, medium, frame, provenance, jurisdiction in which it does business as well purchased lot will not pass until Sotheby’s the purchaser from us or any affiliated
exhibitions, literature or historical relevance as under the laws of the European Union, has received the full purchase price in company, or any payment made by the
of any property and no statement the laws of England and Wales, or the laws cleared funds. The purchaser’s obligation purchaser to us or any affiliated company,
anywhere, whether oral or written, whether and regulations of the United States, and is to immediately pay the full purchase price whether or not intended to reduce the
made in the catalogue, an advertisement, not owned (nor partly owned) or controlled or such part as we may require is absolute purchaser’s obligations with respect to
a bill of sale, a salesroom posting or by such sanctioned person(s) (collectively, and unconditional and is not subject to any the unpaid lot or lots, to the deficiency
announcement, or elsewhere, shall be “Sanctioned Person(s)”); defenses, setoffs or counterclaims of any and any other amounts due to us or
deemed such a warranty, representation (b) Where acting as agent (with kind whatsoever. Sotheby’s is not obligated any affiliated companies. In addition, a
or assumption of liability. We and the Sotheby’s prior written consent), the to release a lot to the purchaser until title to defaulting purchaser will be deemed to
Consignor make no representations principal is not a Sanctioned Person(s) nor the lot has passed and any earlier release have granted and assigned to us and our
and warranties, express or implied, as owned (or partly owned) or controlled by does not affect the passing of title or the affiliated companies, a continuing security
to whether the purchaser acquires any Sanctioned Person(s); and purchaser’s unconditional obligation to pay interest of first priority in any property or
copyrights, including but not limited to, (c) The bidder and/or purchaser the full purchase price. In addition to other money of or owing to such purchaser in
any reproduction rights in any property. undertakes that none of the purchase remedies available to us by law, we reserve our possession, custody or control or in
We and the Consignor are not responsible price will be funded by any Sanctioned the right to impose from the date of sale a the possession, custody or control of any
for errors and omissions in the catalogue, Person(s), nor will any party be involved late charge of the annual percentage rate of our affiliated companies, in each case
glossary, or any supplemental material. in the transaction including financial of Prime + 6% of the total purchase price whether at the time of the auction, the
Sotheby’s will not be responsible or liable institutions, freight forwarders or other if payment is not made in accordance with default or if acquired at any time thereafter,
for damage to frames and glass coverings, forwarding agents or any other party the conditions set forth herein. Please note and we may retain and apply such property
regardless of the cause. be a Sanctioned Person(s) nor owned Sotheby’s reserves the right to refuse to or money as collateral security for the
(or partly owned) or controlled by a accept payment from a source other than obligations due to us or to any affiliated
2. Inspection Prospective bidders should Sanctioned Person(s), unless such the buyer of record. company of ours. We shall have all of the
inspect the property before bidding to activity is authorized in writing by the Unless otherwise agreed by Sotheby’s, rights accorded a secured party under
determine its condition, size, and whether government authority having jurisdiction all property must be removed from our the New York Uniform Commercial Code.
or not it has been repaired or restored. over the transaction or in applicable law or premises by the purchaser at his expense You hereby agree that Sotheby’s may file
regulation. not later than 30 calendar days following financing statements under the New York
3. Buyer’s Premium A buyer’s premium In order to bid on “Premium Lots” you its sale. Purchasers are reminded that Uniform Commercial Code without your
will be added to the hammer price and is must complete the required Premium Lot Sotheby’s liability for loss of or damage to signature. Payment will not be deemed
payable by the purchaser as part of the pre-registra tion application. Sotheby’s sold property shall cease upon the earlier to have been made in full until we have
total purchase price. The buyer’s premium decision whether to accept any pre- of (a) 30 calendar days after the date of the collected good funds. Any claims relating
is 25% of the hammer price up to and registration application shall be final. You auction and (b) our release of the property to any purchase, including any claims
including $400,000, 20% of any amount must arrange for Sotheby’s to receive to the purchaser or the purchaser’s under the Conditions of Sale or Terms of
in excess of $400,000 up to and including your pre-registration application at least designated agent. Upon the expiration Guarantee, must be presented directly
$4,000,000, and 13.9% of any amount in three working days before the sale. Please of such 30 calendar day period or upon to Sotheby’s. In the event the purchaser
excess of $4,000,000. bear in mind that we are unable to obtain such earlier release, as applicable: (i) the fails to pay any or all of the total purchase
financial references over weekends or purchaser bears full liability for any and all price for any lot and Sotheby’s nonetheless
4. Withdrawal We reserve the right to public holidays. loss of or damage to the property; (ii) the elects to pay the Consignor any portion
withdraw any property before the sale and Sotheby’s may require such necessary purchaser releases Sotheby’s, its affiliates, of the sale proceeds, the purchaser
shall have no liability whatsoever for such financial references, guarantees, deposits agents and warehouses from any and all acknowledges that Sotheby’s shall have
withdrawal. and/or such other security, in its absolute liability and claims for loss of or damage all of the rights of the Consignor to pursue
discretion, as security for your bid(s). to the property; and (iii) the purchaser the purchaser for any amounts paid to the
5. Per Lot Unless otherwise announced agrees to indemnify and hold Sotheby’s, its Consignor, whether at law, in equity, or
by the auctioneer, all bids are per lot as affiliates, agents and warehouses harmless under these Conditions of Sale.
numbered in the catalogue.

366 SOTHEBY ’S IMPORTANT CHINESE ART