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IMPORTANT NOTICE                                           Bidding in advance of the Live Auction                         contributes to scholarship or is otherwise well   at Sotheby’s discretion. By bidding on the   Bidding, which are published below and can also
                                                                            Certain auctions have a period of online bidding               known and assists in distinguishing the item   telephone, prospective buyers consent thereto.    be viewed at sothebys.com.
                 Please note that all lots are sold subject to   BUYING AT AUCTION  followed by a live auction.  In such cases, if you     of property. However, the identity of the seller   Please refer to Condition 5 of the Conditions of
                 our Conditions of Business for Buyers and   Please note that this guide to Buying at Auction   are unable to attend the live auction in person   or previous owners may not be disclosed   Business for Buyers published below.  Interested Parties Announcement In
                 Authenticity Guarantee, which are set forth at             and wish to place bids, or simply wish to bid in               for a variety of reasons. For example, such               situations where a person who is allowed to bid
                 the back of this catalogue and Conditions of   and the subsequent Conditions of Business   advance of the live auction, you may do so on   information may be excluded to accommodate   Absentee Bids For some sales (other than   on a lot has a direct or indirect interest in such

                 Business for Sellers, which are available from   for Buyers are up to date as of the time of   sothebys.com or via the Sotheby’s App (each   a seller’s request for confidentiality or because   where the option to Advance Bid (as defined   lot, such as the beneficiary or executor of an
                                               publication of this catalogue and are subject to


                 Sotheby’s offices on request. Prospective   change. We therefore advise that you consult   an “Online Platform” and together, the “Online   the identity of prior owners is unknown given   below) is enabled and a current bid is visible   estate selling the lot, a joint owner of the lot, or a
                 bidders should review the Conditions of                    Platforms”).  In order to do so, you must register             the age of the item of property.  on the Online Platforms), if you are unable to   party providing or participating in a guarantee of
                 Business, Authenticity Guarantee and the   the sale page on sothebys.com shortly before   an account with Sotheby’s and provide the                    attend the live auction in person, you may place   the lot, Sotheby’s will make an announcement
                 Guide for Prospective Buyers. Nevertheless,   the auction for any updates.  requested information. Once you have done so,   2.  BIDDING IN THE SALE    your maximum bid prior to the start of the live   in the sale room that interested parties may bid
                 prospective buyers are reminded that all lots are   Buying at Auction The following pages are   navigate to your desired lot and click the “Place   Bidding at the Live Auction Following any   auction on an Online Platform or by submitting   on the lot. In certain circumstances, interested
                 sold as shown and their attention is drawn to   designed to give you useful information on   Bid” button to start the process. You may bid   applicable online bidding period, bids may be   your maximum bid in writing to Sotheby’s.    parties may have knowledge of the reserves.
                 Condition 3 of Conditions of Business for Buyers   how to buy at auction. Sotheby’s staff as listed   at or above the starting bid displayed on the   executed during the live auction in person, on   When the lot that you are interested in comes   US Economic Sanctions The United States

                 printed in this catalogue.    at the front of this catalogue will be happy to   Online Platforms. Please note that Sotheby’s   the telephone or online via an Online Platform.    up for sale, the auctioneer will execute the bid on   maintains economic and trade sanctions
                                               assist you. However, it is important that you                                                                            your behalf, making every effort to purchase the

                 Ivory  Some items in this sale contain ivory               reserves the right to amend the starting bid                   Auction speeds vary, but average between 50   lot for as little as possible and never exceeding   against targeted foreign countries, groups and
                 which may be subject to export and import   read the following information carefully and note   prior to the start of the live auction. You may   and 120 lots per hour. The bidding steps are   your limit.  This service is free and confidential.  organisations. There may be restrictions on the

                 restrictions. In addition, African elephant ivory   that Sotheby’s acts for the seller; you should   also input your maximum bid which, upon   generally in increments of approximately 10%   import into the United States of certain items
                                               refer in particular to Conditions 3 and 4 of the
                 cannot be imported into the United States.   Conditions of Business for Buyers printed in this   confirmation, will be executed automatically up   of the previous bid.  Advance Bidding   For certain sales, bidders   originating in sanctioned countries, including


                 Please refer to the Endangered Species section             to this predefined maximum value, in response                  Please refer to Conditions 5 and 6 of the   may submit bids in advance of the live auction   Burma, Cuba, Iran, North Korea and Sudan. The
                 in the Buying at Auction guide printed in the   catalogue.  to other bids, including bids placed by Sotheby’s             Conditions of Business for Buyers published   (“Advance Bid”) through an Online Platform,   purchaser’s inability to import any item into the
                 catalogue. Your attention is also drawn to   Prospective bidders should also consult   on behalf of the seller, up to the amount of the   below.       as described above or by submitting your   US or any other country as a result of these or
                 Condition 10 of the Conditions of Business for   www.sothebys.com for the most up to date   reserve (if applicable).  The current leading              maximum bid in writing to Sotheby’s. For these   other restrictions shall not justify cancellation or
                 Buyers.                       cataloguing of the property in this catalogue.  bid will be visible to all bidders; the value and   Bidders using an Online Platform are subject   sales, if you submit an Advance Bid prior to   rescission of the sale or any delay in payment.
                                                                            status of your maximum bid will be visible only                to the Additional Terms and Conditions for   the live auction, the system will automatically   Please check with the specialist department if
                 重要通知                          Buyer’s Premium and Overhead Premium   to you. If the status of your bid changes, you       Online Bidding, which are published below and   bid on your behalf up to and including your   you are uncertain as to whether a lot is subject
                                               A buyer’s premium and overhead premium will

                 請注意,所有拍賣品均須按載於本圖錄背面之          be added to the hammer price and are payable   will receive notifications via email and push (if   can also be viewed at sothebys.com, as well as   predetermined maximum Advance Bid in   to these import restrictions, or any other

                                                                                                                                                                                                     restrictions on importation or exportation.
                                                                                                                                           the Conditions of Business applicable to the
                                                                            you have enabled push notifications on your
                                                                                                                                                                        response to other bids and will alert you via
                 買家業務規則及真品保證及賣家業務規則出           by the buyer as part of the total purchase price.   device) prior to the start of the live auction. You   sale. Online bidding may not be available for   email and push notifications (if enabled on

                 售,有關業務規則及真品保證可向蘇富比辦事          The buyer’s premium is 25% of the hammer   may raise your maximum bid at any time in        Premium Lots.                your device). During the live auction, if your   Currency Board As a courtesy to bidders, a
                 處索取。準買家應省閱業務規則、保證書及給          price up to and including HK$3,500,000, 20%   advance of the live auction. Please note that in                           Advance Bid remains as the leading bid,   currency board is operated in many salerooms.
                 準買家之指引。然而,謹此提醒準買家,所有          of any amount in excess of HK$3,500,000 up   certain circumstances clients who have been    Bidding in Person If you would like to bid in   the auctioneer will execute your bid on your   It displays the lot number and current bid in
                 拍賣品均按本圖錄所載之買家業務規則第 3  條       to and including HK$31,000,000, and 13.9%   outbid may be reinstated as the leading bidder   person at the live auction, you may register for   behalf in response to other bids.  You may also   both Hong Kong dollars and foreign currencies.
                 出售,務請垂注有關業務規則。保存狀況報告          of any amount in excess of HK$31,000,000.   and will receive notification via email or push (if   a paddle prior to the start of the live auction   continue to bid during the live auction above   Exchange rates are approximations based on

                 請參閱英文註解。                      The overhead premium, which covers an   enabled on your device).  Please refer further      through an Online Platform or by contacting   your predetermined maximum Advance Bid via   recent exchange rate information and should
                                               allocation of Sotheby's overhead costs relating                                             Sotheby’s. Alternatively, you may register for            not be relied upon as a precise invoice amount.
                 ൥˫ 本拍賣有部分拍品包含象牙,其出口及          to our facilities, property handling and other   to the “BIDDING IN THE SALE section below.    a paddle upon entering the saleroom. Proof of   an Online Platform using the Live Online Bidding   Sotheby’s assumes no responsibility for any
                 進口可能受到限制。此外,非洲象牙不能進口          administrative expenses, is 1% of the hammer   Online bids are made subject to the Additional   identity will be required. If you are a first-time   method described below.  error or omission in the currency amounts

                 至美國。請參閱圖錄內「給準買家之指引」下          price.                       Terms and Conditions for Online Bidding, which                 bidder, you will also be asked for your address,   Live Online Bidding If you cannot attend   shown.
                 的「瀕危物種」條目。另務請閣下細閱「買家                                       are published below and can also be viewed                     phone number, email address and signature   the live auction, it is possible to bid live online
                 之業務規則」第 10 條。                 1.  BEFORE THE AUCTION       at sothebys.com, as well as the Conditions of                  in order to create your account.  If you have   via an Online Platform. For information about   4.  AFTER THE AUCTION
                                                                            Business applicable to the sale.  Online bidding
                                               Deposit If you wish to bid on ( ) lots in the   may not be available for Premium Lots.      a Sotheby’s Client Card, it will facilitate the   registering to bid via an Online Platform please   Invoices Successful bidders will receive an
                                               printed catalogue and ( ) lots in the                                                       registration process. If you wish to register to   refer to www.sothebys.com.  invoice detailing their purchase and giving
                                               eCatalogue, you may be requested by Sotheby’s   Pre-sale Estimates Pre-sale estimates are   bid on a Premium Lot, please see the paragraph   The online bidding service is not available for   instructions for payment and clearance of
                                               to deliver to Sotheby’s a deposit of   intended as a guide for prospective buyers. Any      above.                       premium lots.                goods.
                                               HK$5,000,000 or such other higher amount as   bid between the high and low pre-sale estimates   Should you be the successful buyer of a lot,          Payment Payment is due in HK dollars

                                               may be determined by Sotheby’s (for any items   would, in our opinion, offer a chance of success.   please ensure that your paddle can be seen by   Consecutive and Responsive Bidding The   immediately after the sale and may be made
                                               of Chinese Works of Art, Fine Chinese Paintings,   However, all lots can realise prices above or   the auctioneer and that it is your number that   auctioneer may open the bidding on any lot   by the following methods: Cash, Banker’s
                                               Fine Classical Chinese Paintings, Magnificent   below the pre-sale estimates.               is called out. Should there be any doubts as to   by placing a bid on behalf of the seller.  The   Draft, Cheque, Wire Transfer and Credit Card
                                               Jewels & Jadeite and Modern & Contemporary   It is advisable to consult us nearer the time of   price or buyer, please draw the auctioneer’s   auctioneer may further bid on behalf of the   (American Express, MasterCard, Union Pay &
                                               Art – Evening Sale) and of HK$2,000,000 or   sale as estimates can be subject to revision. The   attention to it immediately.  seller, up to the amount of the reserve, by   Visa).
                                               such higher amount as may be determined by   estimates do not include the buyer’s premium                                placing consecutive or responsive bids for a lot.
                                               Sotheby’s (for any items in other categories),   and overhead premium.                      All lots sold will be invoiced to the name and   Please refer to Condition 6 of the Conditions of   It is against Sotheby’s general policy to accept
                                               and any financial references, guarantees and/or                                             address in which the paddle has been registered   Business for Buyers published below.  single or multiple related payments in the form
                                               such other security as Sotheby’s may require in   Condition of Lots Prospective buyers are   and cannot be transferred to other names and   Employee Bidding Sotheby’s employees   of cash or cash equivalents in excess of the local
                                               its absolute discretion as security for the bid.  encouraged to inspect the property at the   addresses.                 may bid only if the employee does not know   currency equivalent of US$10,000.
                                                                            pre-sale exhibitions. Solely as a convenience,
                                               For any lots other than Premium Lots,   Sotheby’s may provide condition reports.  The       Please do not mislay your paddle; in the event   the reserve and fully complies with Sotheby’s   It is Sotheby’s policy to request any new clients
                                               regardless of the low pre-sale estimate for the   absence of reference to the condition of a lot   of loss, inform the Sales Clerk immediately. At   internal rules governing employee bidding.  or buyers preferring to make a cash payment to
                                               lot, Sotheby’s reserves the right to request   in the catalogue description does not imply   the end of the sale, please return your paddle to   3.  THE AUCTION  provide proof of identity (by providing some form
                                               from prospective bidders to complete the pre-   that the lot is free from faults or imperfections.   the registration desk                            of government issued identification containing a
                                               registration application form and to deliver                                                                             Conditions of Business Sotheby’s auctions   photograph, such as a passport, identity card or
                                                                            Please refer to Condition 3 of the Conditions of               Telephone Bids If you cannot attend the
                                               to Sotheby’s a deposit of HK$1,000,000 or   Business for Buyers below.                      auction, it may be possible to bid on the   are governed by the Conditions of Business   driver’s licence) and confirmation of permanent
                                                                                                                                                                        for Sellers and Buyers and the Authenticity
                                                                                                                                                                                                     address. Thank you for your co-operation.
                                               such higher amount as may  be determined   Electrical and Mechanical Goods All electrical   telephone on lots with a minimum low   Guarantee. These apply to all aspects of the
                                               by Sotheby’s (for any items of Chinese Works   and mechanical goods are sold on the basis   estimate of HK$40,000. As the number of   relationship between Sotheby’s and actual   Cheques and drafts should be made payable to
                                               of Art, Fine Chinese Paintings, Fine Classical   of their artistic and decorative value only and   telephone lines is limited, it is necessary to   and prospective bidders and buyers. Anyone   Sotheby’s Hong Kong Limited.
                                               Chinese Paintings, Magnificent Jewels & Jadeite   should not be assumed to be operative. It is   make arrangements for this service 24 hours   considering bidding in the auction should read   Although personal and company cheques drawn
                                               and Modern & Contemporary Art – Evening   essential that prior to any intended use, the     before the sale.  We also suggest that you leave   them carefully. They may be amended by way   in HK dollars on Hong Kong banks are accepted,
                                               Sale) and of HK$500,000 or such other higher   electrical system is checked and approved by a   a maximum bid which we can execute on your   of notices posted in the saleroom or by way   you are advised that property will not be
                                               amount as maybe determined by Sotheby’s (for   qualified electrician.                       behalf in the event we are unable to reach you   of announcement made by the auctioneer.    released until such cheques have cleared unless

                                               any items in other categories) and any financial                                            by telephone. Multi-lingual staff are available   Online bids are made subject to the Conditions   you have a pre-arranged Cheque Acceptance
                                               references, guarantees and/or such other   Provenance In certain circumstances,             to execute bids for you. Telephone bids are   of Business applicable to the sale and the   Facility. Forms to facilitate this are available from
                                               security as Sotheby’s may require in its absolute   Sotheby’s may publish the history of ownership   accepted only at Sotheby’s discretion and at   Additional Terms and Conditions for Online   the Finance Department in Hong Kong.
                                               discretion as security  for the bid.  of an item of property if such information            the caller’s risk. Calls may also be recorded
           206    SOTHEBY’S                                                                                                                                                                                                        207
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