Page 173 - Important Chinese Art, Sotheby's London May 15 2019

advance the bidding at levels and in 8. REMEDIES FOR NON-PAYMENT (b) Where acting as agent, the principal is and representatives. No act, omission
increments he considers appropriate and Without prejudice to any rights the Seller not a Sanctioned Person(s) nor owned (or or delay by Sotheby’s shall be deemed a
is entitled to place a bid or series of bids may have, if the Buyer without prior partly owned) or controlled by Sanctioned waiver or release of any of its rights.
on behalf of the Seller up to the Reserve agreement fails to make payment for Person(s).
on the lot, without indicating he is doing so the lot within five days of the auction, (c) The Bidder and/or Buyer undertakes (e) The Contracts (Rights of Third Parties)
Act 1999 is excluded by these Conditions
and whether or not other bids are placed.
Sotheby’s may in its sole discretion that none of the Purchase Price will be of Business and shall not apply to any
(d) Subject to Condition 6(b), the (having informed the Seller) exercise one funded by any Sanctioned Person(s), nor contract made pursuant to them.
contract between the Buyer and the or more of the following remedies: will any party involved in the transaction (f) The materials listed in Condition 1(a)
Seller is concluded on the striking of the (a) store the lot at its premises or including financial institutions, freight above set out the entire agreement and
auctioneer’s hammer, whereupon the elsewhere at the Buyer’s sole risk and forwarders or other forwarding agents understanding between the parties with
Buyer becomes liable to pay the Purchase expense; or any other party be a Sanctioned respect to the subject matter hereof. It
Price. Person(s) nor owned (or partly owned) is agreed that, save in respect of liability
(b) cancel the sale of the lot; or controlled by a Sanctioned Person(s),
(e) Any post-auction sale of lots offered at for fraudulent misrepresentation, no
auction shall incorporate these Conditions (c) set off any amounts owed to the Buyer unless such activity is authorized in party has entered into any contract
writing by the government authority
as if sold in the auction. by a Sotheby’s Company against any pursuant to these terms in reliance on any
amounts owed to Sotheby’s by the Buyer having jurisdiction over the transaction or representation, warranty or undertaking
7. PAYMENT AND COLLECTION in respect of the lot; in applicable law or regulation. which is not expressly referred to in such
(a) Unless otherwise agreed, payment (d) apply any payments made to 10. FAILURE TO COLLECT PURCHASES materials.
of the Purchase Price for a lot and Sotheby’s by the buyer as part of the (a) If the Buyer pays the Purchase Price 13. DATA PROTECTION
any Buyer’s Expenses are due by the Purchase Price and Buyer’s Expenses
Buyer in pounds sterling immediately towards that or any other lot purchased and Buyer’s Expenses but fails to collect a Sotheby’s will hold and process the
purchased lot within thirty calendar days
on conclusion of the auction (the “Due by the Buyer, or to any shortfall on the Buyer’s personal information and may
Date”) notwithstanding any requirements resale of any lot pursuant to paragraph of the auction, the lot will be stored at the share it with another Sotheby’s Group
Buyer’s expense (and risk) at Sotheby’s
for export, import or other permits for (h) below, or to any damages suffered by company for use as described in, and
such lot. Sotheby’s as a result of breach of contract or with a third party. in line with, Sotheby’s Privacy Policy
(b) Title in a purchased lot will not pass by the Buyer; (b) If a purchased lot is paid for but not published on Sotheby’s website at www.
sothebys.com or available on request by
collected within six months of the auction,
until Sotheby’s has received the Purchase (e) reject future bids from the Buyer or the Buyer authorises Sotheby’s, having email to enquiries@sothebys.com.
Price and Buyer’s Expenses for that lot in render such bids subject to payment of given notice to the Buyer, to arrange a
cleared funds. Sotheby’s is not obliged a deposit; resale of the item by auction or private 14. LAW AND JURISDICTION
to release a lot to the Buyer until title sale, with estimates and reserves at
in the lot has passed and appropriate (f) charge interest at 6% per annum Sotheby’s discretion. The proceeds Governing Law These Conditions of
identification has been provided, and any above HSBC Bank plc Base Rate from of such sale, less all costs incurred Business and all aspects of all matters,
earlier release does not affect the passing the Due Date to the date the Purchase by Sotheby’s, will be forfeited unless transactions or disputes to which they
of title or the Buyer’s unconditional Price and relevant Buyer’s Expenses are collected by the Buyer within two years of relate or apply (including any online bids in
obligation to pay the Purchase Price and received in cleared funds (both before and the original auction. the sale to which these Conditions apply)
Buyer’s Expenses. after judgement); shall be governed by and interpreted in
accordance with English law.
(c) The Buyer is obliged to arrange (g) exercise a lien over any of the Buyer’s 11. EXPORT AND PERMITS
collection of purchased lots no later than property which is in the possession of It is the Buyer’s sole responsibility to Jurisdiction For the benefit of Sotheby’s,
thirty (30) calendar days after the date a Sotheby’s Company. Sotheby’s shall identify and obtain any necessary export, all Bidders and Sellers agree that the
of the auction. Purchased lots are at the inform the Buyer of the exercise of any import, firearm, endangered species or Courts of England are to have exclusive
Buyer’s risk (and therefore their sole such lien and within 14 days of such notice other permit for the lot. Any symbols jurisdiction to settle all disputes arising in
responsibility for insurance) from the may arrange the sale of such property or notices in the sale catalogue reflect connection with all aspects of all matters
earliest of i) collection or ii) the thirty-first and apply the proceeds to the amount Sotheby’s reasonable opinion at the or transactions to which these Conditions
calendar day after the auction. Until risk owed to Sotheby’s; time of cataloguing and offer Bidders of Business relate or apply. All parties
passes, Sotheby’s will compensate the (h) resell the lot by auction or private sale, general guidance only. Without prejudice agree that Sotheby’s shall retain the right
Buyer for any loss or damage to the lot with estimates and reserves at Sotheby’s to Conditions 3 and 4 above, Sotheby’s to bring proceedings in any court other
up to a maximum of the Purchase Price discretion. In the event such resale is and the Seller make no representations than the Courts of England.
paid. Buyers should note that Sotheby’s for less than the Purchase Price and or warranties as to whether any lot is Service of Process All Bidders and Sellers
assumption of liability for loss or damage Buyer’s Expenses for that lot, the Buyer or is not subject to export or import irrevocably consent to service of process
is subject to the exclusions set out in will remain liable for the shortfall together restrictions or any embargoes. The denial or any other documents in connection
Condition 6 of the Conditions of Business with all costs incurred in such resale; of any permit or licence shall not justify with proceedings in any court by facsimile
for Sellers. cancellation or rescission of the sale transmission, personal service, delivery
(i) commence legal proceedings
(d) For all items stored by a third party to recover the Purchase Price and contract or any delay in payment. by mail or in any other manner permitted
and not available for collection from Buyer’s Expenses for that lot, together 12. GENERAL by English law, the law of the place of
Sotheby’s premises, the supply of with interest and the costs of such service or the law of the jurisdiction where
authority to release to the Buyer shall proceedings on a full indemnity basis; or (a) All images and other materials proceedings are instituted, at the last
constitute collection by the Buyer. produced for the auction are the copyright address of the Buyer or Seller known to
(j) release the name and address of the of Sotheby’s, for use at Sotheby’s Sotheby’s or any other usual address.
(e) All packing and handling is at the Buyer to the Seller to enable the Seller discretion.
Buyer’s risk. Sotheby’s will not be liable to commence legal proceedings to
for any acts or omissions of third party recover the amounts due and legal costs. (b) Notices to Sotheby’s should be in
packers or shippers. Sotheby’s will take reasonable steps to writing and addressed to the department
(f) The Buyer of any firearm is solely notify the Buyer prior to releasing such in charge of the sale, quoting the
reference number specified at the
responsible for obtaining all valid firearm details to the Seller. beginning of the sale catalogue. Notices
or shotgun certificates or certificates of 9. BIDDER’S / BUYER’S WARRANTIES to Sotheby’s clients shall be addressed to
registration as a firearms dealer, as may the last address formally notified by them
be required by the regulations in force (a) The Bidder and/or Buyer is not to Sotheby’s.
in England and Wales or Scotland (as subject to trade sanctions, embargoes
applicable) relating to firearms or other or any other restriction on trade in the (c) Should any provision of these
weapons at the time of the sale, and jurisdiction in which it does business as Conditions of Business be held
for complying with all such regulations, well as under the laws of the European unenforceable for any reason, the
whether or not notice of such is published Union, the laws of England and Wales, remaining provisions shall remain in full
in the Sale Catalogue. Sotheby’s will or the laws and regulations of the United force and effect.
not deliver a firearm to a Buyer unless States, and is not owned (nor partly (d) These Conditions of Business are
the Buyer has first supplied evidence to owned) or controlled by such sanctioned not assignable by any Buyer without
Sotheby’s satisfaction of compliance with person(s) (collectively, “Sanctioned Sotheby’s prior written consent, but are
this Condition. Person(s)”). binding on Buyers’ successors, assigns
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