Page 249 - important chinese art mar 22 2018

in the case of error or dispute with respect available to us by law, we reserve the right to Code. You hereby agree that Sotheby’s may
CONDITIONS OF SALE to bidding, and whether during or after the impose from the date of sale a late charge of ! le ! nancing statements under the New
sale, to determine the successful bidder, to the annual percentage rate of Prime + 6% York Uniform Commercial Code without
The following Conditions of Sale and Terms re-open the bidding, to cancel the sale or of the total purchase price if payment is not your signature. Payment will not be deemed
of Guarantee are Sotheby’s, Inc. and the to re-o" er and re-sell the item in dispute. If made in accordance with the conditions set to have been made in full until we have
Consignor’s entire agreement with the any dispute arises after the sale, our sale forth herein. Please note Sotheby’s reserves collected good funds. Any claims relating to
purchaser and any bidders relative to the record is conclusive. In our discretion we will the right to refuse to accept payment from a any purchase, including any claims under the
property listed in this catalogue. execute order or absentee bids and accept source other than the buyer of record. Conditions of Sale or Terms of Guarantee,
The Conditions of Sale, Terms of telephone bids and online bids via BIDnow, Unless otherwise agreed by Sotheby’s, must be presented directly to Sotheby’s.
Guarantee, the glossary, if any, and all other eBay, Invaluable or other online platforms as all property must be removed from our In the event the purchaser fails to pay any
contents of this catalogue are subject to a convenience to clients who are not present premises by the purchaser at his expense or all of the total purchase price for any lot
amendment by us by the posting of notices at auctions; Sotheby’s is not responsible for not later than 30 calendar days following and Sotheby’s nonetheless elects to pay the
or by oral announcements made during any errors or omissions in connection there- its sale. Purchasers are reminded that Consignor any portion of the sale proceeds,
with. Prospective bidders should also consult Sotheby’s liability for loss of or damage to the purchaser acknowledges that Sotheby’s
the sale. The property will be o: ered by
us as agent for the Consignor, unless the sothebys.com for the most up to date sold property shall cease upon the earlier shall have all of the rights of the Consignor to
cataloguing of the property in this catalogue. of (a) 30 calendar days after the date of the pursue the purchaser for any amounts paid
catalogue indicates otherwise.
By partici pating in any sale, you By participating in the sale, you represent auction and (b) our release of the property to to the Consignor, whether at law, in equity, or
and warrant that any bids placed by you, the purchaser or the purchaser’s designated under these Conditions of Sale.
acknowledge that you are bound by these
terms and conditions. or on your behalf, are not the product of agent. Upon the expiration of such 30
any collusive or other anti-competitive calendar day period or upon such earlier 10.#ReserveLAll lots in this catalogue
agreement and are otherwise consistent release, as applicable: (i) the purchaser are o" ered subject to a reserve, which is
1.#As Is#Goods auctioned are often of some
with federal and state antitrust law. bears full liability for any and all loss of or the con! dential minimum hammer price
age. The authenticity of the Authorship In order to bid on “Premium Lots” you damage to the property; (ii) the purchaser at which a lot will be sold. No reserve will
(as de! ned below) of property listed in must complete the required Premium Lot releases Sotheby’s, its a& liates, agents exceed the low presale estimate stated in
the catalogue is guaranteed as stated in pre-registra tion application. Sotheby’s and warehouses from any and all liability the catalogue, or as amended by oral or
the Terms of Guarantee and except for
decision whether to accept any pre- and claims for loss of or damage to the posted notices. We may implement such
the Limited Warranty contained therein, registration application shall be ! nal. You property; and (iii) the purchaser agrees to reserve by opening the bidding on behalf of
all property is sold “AS IS” without any must arrange for Sotheby’s to receive your indemnify and hold Sotheby’s, its a& liates, the Consignor and may bid up to the amount
representations or warranties by us or the pre-registration application at least three agents and warehouses harmless from of the reserve, by placing successive or
Consignor as to merchantability, ! tness
working days before the sale. Please bear in and against any and all liability for loss of consecutive bids for a lot, or bids in response
for a particular purpose, the correctness mind that we are unable to obtain ! nancial or damage to property and any all claims to other bidders. In instances where we
of the catalogue or other description of references over weekends or public holidays. related to loss of or damage to the property have an interest in the lot other than our
the physical condition, size, quality, rarity, Sotheby’s may require such necessary as of and from and after the time Sotheby’s commission, we may bid up to the reserve
importance, medium, frame, provenance,
! nancial references, guarantees, deposits liability for loss or damage to the property to protect such interest. In certain instances,
exhibitions, literature or historical relevance and/or such other security, in its absolute ceases in accordance with this paragraph. the Consignor may pay us less than the
of any property and no statement anywhere, discretion, as security for your bid(s). If any applicable conditions herein are standard commission rate where a lot is
whether oral or written, whether made in the not complied with by the purchaser, the “bought-in” to protect its reserve.
catalogue, an advertisement, a bill of sale,
7.#Online Bids via BIDnow or other Online purchaser will be in default and in addition
a salesroom posting or announcement, or Platforms: Sotheby’s may o" er clients to any and all other remedies available to us
elsewhere, shall be deemed such a warranty, the opportunity to bid online via BIDnow, and the Consignor by law, including, without 11.#TaxLUnless exempted by law, the
representation or assumption of liability. We eBay, Invaluable or other Online Platforms limitation, the right to hold the purchaser purchaser will be required to pay the
and the Consignor make no representations liable for the total purchase price, including combined New York State and local sales
and warranties, express or implied, as for selected sales. By participating in a all fees, charges and expenses more fully tax, any applicable compensating use tax of
sale via any of these Online Platforms, you
to whether the purchaser acquires any set forth herein, we, at our option, may (x) another state, and if applicable, any federal
copyrights, including but not limited to, any acknowledge that you are bound by these cancel the sale of that, or any other lot or luxury or other tax, on the total purchase
reproduction rights in any property. We and Conditions of Sale as well as the Additional lots sold to the defaulting purchaser at the price. The rate of such combined tax is
the Consignor are not responsible for errors Terms and Conditions for Live Online same or any other auction, retaining as 8.875% in New York City and ranges from 7%
and omissions in the catalogue, glossary, or Bidding (“Online Terms”). By participating liquidated damages all payments made by to 8.625% elsewhere in New York.
any supplemental material. Sotheby’s will in a sale via any Online Platform, Bidders the purchaser, or (y) resell the purchased
not be responsible or liable for damage to accept the Online Terms, as well as the property, whether at public auction or by 12.#Export and PermitsLIt is the
frames and glass coverings, regardless of relevant Conditions of Sale. Online bidding private sale, or (z) e" ect any combination purchaser’s sole responsibility to identify
the cause. may not be available for Premium Lots. and obtain any necessary export, import,
thereof. In any case, the purchaser will be ! rearm, endangered species or other permit
liable for any de! ciency, any and all costs,
2.#InspectionLProspective bidders should 8.#Bids Below ReserveLIf the auctioneer handling charges, late charges, expenses for the lot. Any symbols or notices in the
inspect the property before bidding to deter mines that any opening bid is below the of both sales, our com missions on both sale catalogue re* ect Sotheby’s reasonable
determine its condition, size, and whether or reserve of the article o" ered, he may reject sales at our regular rates, legal fees and opinion at the time of cataloguing and are for
not it has been repaired or restored. the same and withdraw the article from sale, expenses, collection fees and incidental bidders’ general guidance only; Sotheby’s
and if, having acknowledged an opening bid, damages. We may, in our sole discretion, and the Consignor make no representations
he deter mines that any advance thereafter is or warranties as to whether any lot is or is not
3.#Buyer’s PremiumLA buyer’s premium apply any proceeds of sale then due or subject to export or import restrictions or
will be added to the hammer price and is insu& cient, he may reject the advance. thereafter becoming due to the purchaser
payable by the purchaser as part of the total from us or any a& liated company, or any any embargoes.
purchase price. The buyer’s premium is 25% 9.#Purchaser’s ResponsibilityLSubject payment made by the purchaser to us or any
of the hammer price up to and including to ful! ll ment of all of the conditions set a& liated company, whether or not intended 13.#Governing Law and Jurisdiction These
$300,000, 20% of any amount in excess of forth herein, on the fall of the auctioneer’s to reduce the purchaser’s obligations with Conditions of Sale and Terms of Guarantee,
$300,000 up to and including $3,000,000, hammer, the contract between the consignor respect to the unpaid lot or lots, to the as well as bidders’, the purchaser’s and our
and 12.9% of any amount in excess of and the purchaser is concluded, and the de! ciency and any other amounts due to respective rights and obligations hereunder,
$3,000,000. winning bidder thereupon will immediately us or any a& liated companies. In addition, a shall be governed by and construed and
pay the full purchase price or such part as defaulting purchaser will be deemed to have enforced in accordance with the laws of
we may require. Title in a purchased lot will the State of New York. By bidding at an
4.#WithdrawalLWe reserve the right to granted and assigned to us and our a& liated auction, whether present in person or by
withdraw any property before the sale and not pass until Sotheby’s has received the companies, a continuing security interest of agent, order bid, telephone, online or other
shall have no liability whatsoever for such full purchase price in cleared funds. The ! rst priority in any property or money of or
purchaser’s obligation to immediately pay means, all bidders including the purchaser,
withdrawal. owing to such purchaser in our possession,
the full purchase price or such part as we custody or control or in the possession, shall be deemed to have consented to the
may require is absolute and unconditional exclusive jurisdiction of the state courts of,
5.#Per LotLUnless otherwise announced custody or control of any of our a& liated
and is not subject to any defenses, seto" s and the federal courts sitting in, the State
by the auctioneer, all bids are per lot as or counterclaims of any kind whatsoever. companies, in each case whether at the time of New York. All parties agree, however, that
numbered in the catalogue. of the auction, the default or if acquired at
Sotheby’s is not obligated to release a lot any time thereafter, and we may retain and Sotheby’s shall retain the right to bring
to the purchaser until title to the lot has apply such property or money as collateral proceedings in a court other than the state
6.#BiddingLWe reserve the right to reject passed and any earlier release does not and federal courts sitting in the State of
any bid. The highest bidder acknowledged a" ect the passing of title or the purchaser’s security for the obligations due to us or to New York.
by the auctioneer will be the purchaser. The unconditional obligation to pay the full any a& liated company of ours. We shall have
auctioneer has absolute and sole discretion all of the rights accorded a secured party
purchase price. In addition to other remedies under the New York Uniform Commercial
IMPORTANT CHINESE ART 247