Page 172 - Important Chinese Art, Sotheby's London May 15 2019

for a purchaser in this sale to a destination “Bidder” is any person considering, lot and the accuracy of its description. the Seller to the Buyer in Condition 2 of the
within a US state in which Sotheby’s is making or attempting to make a bid, by Sellers’ Conditions of Business;
registered to collect sales tax, Sotheby’s is whatever means, and includes Buyers; (c) Bidders acknowledge that many lots (iii) accepts responsibility to any Bidders
are of an age and type which means that
obliged to collect and remit the respective
state’s sales / use tax in effect on the total “Buyer” is the person who makes the they are not in perfect condition. All lots in respect of acts or omissions (whether
negligent or otherwise) by Sotheby’s in
highest bid or offer accepted by the
are offered for sale in the condition they
purchase price (including hammer price,
buyer’s premium, shipping costs and auctioneer, and includes such person’s are in at the time of the auction (whether connection with the conduct of auctions
or not Bidders are in attendance at the
principal when bidding as agent;
or for any matter relating to the sale of
insurance) of such items, regardless of the
country in which the purchaser resides “Buyer’s Expenses” are any costs or auction). Condition reports may be any lot.
available to assist when inspecting lots.
or is a citizen. Where the purchaser has expenses due to Sotheby’s from the (c) Unless Sotheby’s owns a lot offered
provided Sotheby’s with a valid Resale Buyer and any Artist’s Resale Right levy Catalogue descriptions and condition for sale, it is not responsible for any
reports may on occasions make reference
Exemption Certificate prior to the release payable in respect of the sale of the breach of these conditions by the Seller.
of the property, sales / use tax will not Property, including an amount in respect to particular imperfections of a lot, but (d) Without prejudice to Condition 4(b),
Bidders should note that lots may have
be charged. Clients who wish to provide of any applicable VAT thereon;
resale or exemption documentation for “Buyer’s Premium” is the commission other faults not expressly referred to any claim against Sotheby’s or the Seller
in the catalogue or condition report.
by a Bidder is limited to the Purchase
their purchases should contact Post Sale
Services. payable by the Buyer on the Hammer Illustrations are for identification purposes Price with regard to that lot. Neither
Price at the rates set out in the guide to only and will not convey full information as Sotheby’s nor the Seller shall under
Clients who wish to have their Buying at Auction plus any applicable VAT to the actual condition of lots. any circumstances be liable for any
purchased lots shipped to the US by or an amount in lieu of VAT; (d) Information provided to Bidders in consequential losses.
Sotheby’s are advised to contact the Post “Counterfeit” is as defined in Sotheby’s respect of any lot, including any estimate, (e) None of this Condition 4 shall exclude
Sale Manager listed in the front of this Authenticity Guarantee; whether written or oral and including or limit Sotheby’s liability in respect of
catalogue before arranging shipping. information in any catalogue, condition or any fraudulent misrepresentation made
“Hammer Price” is the highest bid other report, commentary or valuation, by Sotheby’s or the Seller, or in respect
accepted by the auctioneer by the fall
CONDITIONS OF BUSINESS of the hammer, (in the case of wine, as is not a representation of fact but rather of death or personal injury caused by the
is a statement of opinion genuinely held
negligent acts or omissions of Sotheby’s
FOR BUYERS apportioned pro-rata by reference to the by Sotheby’s. Any estimate may not be or the Seller.
number of separately identified items in
The nature of the relationship between that lot), or in the case of a post-auction relied on as a prediction of the selling price
Sotheby’s, Sellers and Bidders and the sale, the agreed sale price; or value of the lot and may be revised 5. BIDDING AT AUCTION
terms on which Sotheby’s (as auctioneer) from time to time in Sotheby’s absolute (a) Sotheby’s has absolute discretion to
and Sellers contract with Bidders are set “Purchase Price” is the Hammer Price discretion. refuse admission to the auction. Bidders
out below. and applicable Buyer’s Premium and VAT; must complete a Paddle Registration
(e) No representations or warranties are
Bidders’ attention is specifically drawn to “Reserve” is the (confidential) minimum made by Sotheby’s or the Seller as to Form and supply such information and
Conditions 3 and 4 below, which require Hammer Price at which the Seller has whether any lot is subject to copyright references as required by Sotheby’s.
Bidders act as principal unless they
them to investigate lots prior to bidding agreed to sell a lot; or whether the Buyer acquires copyright
and which contain specific limitations “Seller” is the person offering a lot for in any lot. have Sotheby’s prior written consent to
bid as agent for another party. Bidders
and exclusions of the legal liability of sale (including their agent (other than (f) Subject to the matters referred to at
Sotheby’s and Sellers. The limitations Sotheby’s), executors or personal 3(a) to 3(e) above and to the specific are personally liable for their bid and
are jointly and severally liable with their
and exclusions relating to Sotheby’s are representatives); exclusions contained at Condition 4
consistent with its role as auctioneer below, Sotheby’s shall exercise such principal if bidding as agent.
of large quantities of goods of a wide “Sotheby’s” means Sotheby’s, the reasonable care when making express (b) Sotheby’s advises Bidders to attend
variety and Bidders should pay particular unlimited company which has its statements in catalogue descriptions or the auction but will seek to carry out
attention to these Conditions. registered office at 34-35 New Bond condition reports as is consistent with absentee written bids which are in pounds
Street, London W1A 2AA; sterling and, in Sotheby’s opinion, clear
1. INTRODUCTION its role as auctioneer of lots in the sale to and received sufficiently in advance of the
“Sotheby’s Company” means both which these Conditions relate, and in the
(a) Sotheby’s and Sellers’ contractual Sotheby’s in the USA and any of its light of: sale of the lot, endeavouring to ensure
relationship with prospective Buyers is subsidiaries (including Sotheby’s in that the first received of identical written
governed by: London) and Sotheby’s Diamonds SA and (i) the information provided to it by the bids has priority.
Seller;
its subsidiaries (in each case “subsidiary”
(i) these Conditions of Business; (c) Where available, written, telephone
having the meaning of Section 1159 of the (ii) scholarship and technical knowledge; and online bids are offered as an
(ii) the Conditions of Business for Sellers Companies Act 2006); and additional service for no extra charge, at
displayed in the saleroom and which are “VAT” is Value Added Tax at the (iii) the generally accepted opinions of the Bidder’s risk and shall be undertaken
available upon request from Sotheby’s UK with reasonable care subject to Sotheby’s
salerooms or by telephoning +44 (0)20 prevailing rate. Further information relevant experts, in each case at the time other commitments at the time of the
any such express statement is made.
is contained in the guide to Buying at
7293 6482; auction; Sotheby’s therefore cannot
Auction.
(iii) Sotheby’s Authenticity Guarantee as 4. EXCLUSIONS AND LIMITATIONS accept liability for failure to place
printed in the sale catalogue; 3. DUTIES OF BIDDERS AND OF LIABILITY TO BUYERS such bids save where such failure is
OF SOTHEBY’S IN RESPECT unreasonable. Telephone and online bids
(iv) any additional notices and terms OF ITEMS FOR SALE (a) Sotheby’s shall refund the Purchase may be recorded. Online bids are made
printed in the sale catalogue, including the (a) Sotheby’s knowledge in relation Price to the Buyer in circumstances where subject to the Conditions of Business
it deems that the lot is a Counterfeit and
guide to Buying at Auction; and for Live Online Bidding available on the
to each lot is partially dependent on each of the conditions of the Authenticity
(v) in respect of online bidding via the information provided to it by the Seller, Guarantee has been satisfied. Sotheby’s website or upon request. The
internet, the Conditions of Business for and Sotheby’s is not able to and does Conditions of Business for Live Online
Live Online Bidding on the Sotheby’s not carry out exhaustive due diligence on (b) In the light of the matters in Condition 3 Bidding apply in relation to online bids, in
website, in each case as amended by each lot. Bidders acknowledge this fact above and subject to Conditions 4(a) and addition to these Conditions of Business.
any saleroom notice or auctioneer’s and accept responsibility for carrying out 4(e), neither any Sotheby’s Company nor 6. CONDUCT OF THE AUCTION
announcement at the auction. inspections and investigations to satisfy the Seller:
themselves as to the lots in which they (i) is liable for any errors or omissions (a) Unless otherwise specified, all lots are
(b) As auctioneer, Sotheby’s acts as may be interested. offered subject to a Reserve, which shall
agent for the Seller. A sale contract is in information provided to Bidders by be no higher than the low presale estimate
Sotheby’s (or any Sotheby’s Company),
made directly between the Seller and the (b) Each lot offered for sale at Sotheby’s at the time of the auction.
Buyer. However, Sotheby’s may own a is available for inspection by Bidders prior whether orally or in writing, whether
negligent or otherwise, except as set out in
lot (and in such circumstances acts in a to the sale. Sotheby’s accepts bids on (b) The auctioneer has discretion at any
principal capacity as Seller) and/or may lots solely on the basis that Bidders (and Condition 3(f) above; time to refuse any bid, withdraw any lot,
have a legal, beneficial or financial interest independent experts on their behalf, to (ii) gives any guarantee or warranty to re-offer a lot for sale (including after the
in a lot as a secured creditor or otherwise. the extent appropriate given the nature Bidders and any implied warranties and fall of the hammer) if he believes there
and value of the lot and the Bidder’s conditions are excluded (save in so far as may be error or dispute, and take such
2. COMMON TERMS own expertise) have fully inspected the such obligations cannot be excluded by law) other action as he reasonably thinks fit.
In these Conditions of Business: lot prior to bidding and have satisfied other than the express warranties given by (c) The auctioneer will commence and
themselves as to both the condition of the
170 SOTHEBY’S