Page 80 - 2019 September 12th Sotheby's Important Chinese Paintings New York

6. Bidding We reserve the right to reject sale via any of these Online Platforms, you default and in addition to any and all other
CONDITIONS OF SALE any bid. The highest bidder acknowledged acknowledge that you are bound by these remedies available to us and the Consignor
by the auctioneer will be the purchaser. The Conditions of Sale as well as the Additional by law, including, without limitation, the
The following Conditions of Sale and Terms auctioneer has absolute and sole discretion Terms and Conditions for Live Online right to hold the purchaser liable for the
of Guarantee are Sotheby’s, Inc. and the in the case of error or dispute with respect Bidding (“Online Terms”). By participating total purchase price, including all fees,
Consignor’s entire agreement with the to bidding, and whether during or after the in a sale via any Online Platform, Bidders charges and expenses more fully set forth
purchaser and any bidders relative to the sale, to determine the successful bidder, to accept the Online Terms, as well as the herein, we, at our option, may (x) cancel
property listed in this catalogue. re-open the bidding, to cancel the sale or relevant Conditions of Sale. Online bidding the sale of that, or any other lot or lots
The Conditions of Sale, Terms of to re-offer and re-sell the item in dispute. If may not be available for Premium Lots. sold to the defaulting purchaser at the
Guarantee, the glossary, if any, and all other any dispute arises after the sale, our sale same or any other auction, retaining as
contents of this catalogue are subject to record is conclusive. In our discretion we 8. Bids Below Reserve If the auctioneer liquidated damages all payments made by
amendment by us by the posting of notices will execute order or absentee bids and deter mines that any opening bid is below the purchaser, or (y) resell the purchased
or by oral announcements made during accept telephone bids and online bids via the reserve of the article offered, he may property, whether at public auction or by
the sale. The property will be offered by BIDnow, eBay, Invaluable or other online reject the same and withdraw the article private sale, or (z) effect any combination
us as agent for the Consignor, unless the platforms as a convenience to clients who from sale, and if, having acknowledged thereof. In any case, the purchaser will
catalogue indicates otherwise. are not present at auctions; Sotheby’s is an opening bid, he deter mines that any be liable for any deficiency, any and all
By partici pating in any sale, you not responsible for any errors or omissions advance thereafter is insufficient, he may costs, handling charges, late charges,
acknowledge that you are bound by these in connection there with. Prospective reject the advance. expenses of both sales, our com missions
terms and conditions. bidders should also consult sothebys.com on both sales at our regular rates, legal
for the most up to date cataloguing of the 9. Purchaser’s Responsibility Subject fees and expenses, collection fees and
1. As Is Goods auctioned are often property in this catalogue. to fulfill ment of all of the conditions set incidental damages. We may, in our sole
of some age. The authenticity of the By participating in the sale, you represent forth herein, on the fall of the auctioneer’s discretion, apply any proceeds of sale
Authorship (as defined below) of property and warrant that any bids placed by you, hammer, the contract between the then due or thereafter becoming due to
listed in the catalogue is guaranteed as or on your behalf, are not the product of consignor and the purchaser is concluded, the purchaser from us or any affiliated
stated in the Terms of Guarantee and any collusive or other anti-competitive and the winning bidder thereupon will company, or any payment made by the
except for the Limited Warranty contained agreement and are otherwise consistent immediately pay the full purchase price purchaser to us or any affiliated company,
therein, all property is sold “AS IS” without with federal and state antitrust law. or such part as we may require. Title in a whether or not intended to reduce the
any representations or warranties by us or By participating in the sale, you purchased lot will not pass until Sotheby’s purchaser’s obligations with respect to
the Consignor as to merchantability, fitness represent and warrant that: has received the full purchase price in the unpaid lot or lots, to the deficiency
for a particular purpose, the correctness (a) The bidder and/or purchaser is not cleared funds. The purchaser’s obligation and any other amounts due to us or
of the catalogue or other description of subject to trade sanctions, embargoes to immediately pay the full purchase price any affiliated companies. In addition, a
the physical condition, size, quality, rarity, or any other restriction on trade in the or such part as we may require is absolute defaulting purchaser will be deemed to
importance, medium, frame, provenance, jurisdiction in which it does business as well and unconditional and is not subject to any have granted and assigned to us and our
exhibitions, literature or historical relevance as under the laws of the European Union, defenses, setoffs or counterclaims of any affiliated companies, a continuing security
of any property and no statement the laws of England and Wales, or the laws kind whatsoever. Sotheby’s is not obligated interest of first priority in any property or
anywhere, whether oral or written, whether and regulations of the United States, and is to release a lot to the purchaser until title to money of or owing to such purchaser in
made in the catalogue, an advertisement, not owned (nor partly owned) or controlled the lot has passed and any earlier release our possession, custody or control or in
a bill of sale, a salesroom posting or by such sanctioned person(s) (collectively, does not affect the passing of title or the the possession, custody or control of any
announcement, or elsewhere, shall be “Sanctioned Person(s)”); purchaser’s unconditional obligation to pay of our affiliated companies, in each case
deemed such a warranty, representation (b) Where acting as agent (with the full purchase price. In addition to other whether at the time of the auction, the
or assumption of liability. We and the Sotheby’s prior written consent), the remedies available to us by law, we reserve default or if acquired at any time thereafter,
Consignor make no representations principal is not a Sanctioned Person(s) nor the right to impose from the date of sale a and we may retain and apply such property
and warranties, express or implied, as owned (or partly owned) or controlled by late charge of the annual percentage rate or money as collateral security for the
to whether the purchaser acquires any Sanctioned Person(s); and of Prime + 6% of the total purchase price obligations due to us or to any affiliated
copyrights, including but not limited to, (c) The bidder and/or purchaser if payment is not made in accordance with company of ours. We shall have all of the
any reproduction rights in any property. undertakes that none of the purchase the conditions set forth herein. Please note rights accorded a secured party under
We and the Consignor are not responsible price will be funded by any Sanctioned Sotheby’s reserves the right to refuse to the New York Uniform Commercial Code.
for errors and omissions in the catalogue, Person(s), nor will any party be involved accept payment from a source other than You hereby agree that Sotheby’s may file
glossary, or any supplemental material. in the transaction including financial the buyer of record. financing statements under the New York
Sotheby’s will not be responsible or liable institutions, freight forwarders or other Unless otherwise agreed by Sotheby’s, Uniform Commercial Code without your
for damage to frames and glass coverings, forwarding agents or any other party all property must be removed from our signature. Payment will not be deemed
regardless of the cause. be a Sanctioned Person(s) nor owned premises by the purchaser at his expense to have been made in full until we have
(or partly owned) or controlled by a not later than 30 calendar days following collected good funds. Any claims relating
2. Inspection Prospective bidders should Sanctioned Person(s), unless such its sale. Purchasers are reminded that to any purchase, including any claims
inspect the property before bidding to activity is authorized in writing by the Sotheby’s liability for loss of or damage to under the Conditions of Sale or Terms of
determine its condition, size, and whether government authority having jurisdiction sold property shall cease upon the earlier Guarantee, must be presented directly
or not it has been repaired or restored. over the transaction or in applicable law or of (a) 30 calendar days after the date of the to Sotheby’s. In the event the purchaser
regulation. auction and (b) our release of the property fails to pay any or all of the total purchase
3. Buyer’s Premium A buyer’s premium In order to bid on “Premium Lots” you to the purchaser or the purchaser’s price for any lot and Sotheby’s nonetheless
will be added to the hammer price and is must complete the required Premium Lot designated agent. Upon the expiration elects to pay the Consignor any portion
payable by the purchaser as part of the pre-registra tion application. Sotheby’s of such 30 calendar day period or upon of the sale proceeds, the purchaser
total purchase price. The buyer’s premium decision whether to accept any pre- such earlier release, as applicable: (i) the acknowledges that Sotheby’s shall have
is 25% of the hammer price up to and registration application shall be final. You purchaser bears full liability for any and all all of the rights of the Consignor to pursue
including $400,000, 20% of any amount must arrange for Sotheby’s to receive loss of or damage to the property; (ii) the the purchaser for any amounts paid to the
in excess of $400,000 up to and including your pre-registration application at least purchaser releases Sotheby’s, its affiliates, Consignor, whether at law, in equity, or
$4,000,000, and 13.9% of any amount in three working days before the sale. Please agents and warehouses from any and all under these Conditions of Sale.
excess of $4,000,000. bear in mind that we are unable to obtain liability and claims for loss of or damage
financial references over weekends or to the property; and (iii) the purchaser 10. Reserve All lots in this catalogue are
4. Withdrawal We reserve the right to public holidays. agrees to indemnify and hold Sotheby’s, its offered subject to a reserve, which is the
withdraw any property before the sale and Sotheby’s may require such necessary affiliates, agents and warehouses harmless confidential minimum hammer price at
shall have no liability whatsoever for such financial references, guarantees, deposits from and against any and all liability for which a lot will be sold. No reserve will
withdrawal. and/or such other security, in its absolute loss of or damage to property and any exceed the low presale estimate stated
discretion, as security for your bid(s). all claims related to loss of or damage to in the catalogue, or as amended by oral
5. Per Lot Unless otherwise announced 7. Online Bids via BIDnow or other Online the property as of and from and after the or posted notices. We may implement
by the auctioneer, all bids are per lot as time Sotheby’s liability for loss or damage such reserve by opening the bidding on
numbered in the catalogue. Platforms: Sotheby’s may offer clients to the property ceases in accordance behalf of the Consignor and may bid up
the opportunity to bid online via BIDnow, with this paragraph. If any applicable to the amount of the reserve, by placing
eBay, Invaluable or other Online Platforms conditions herein are not complied with successive or consecutive bids for a lot,
for selected sales. By participating in a by the purchaser, the purchaser will be in or bids in response to other bidders. In

76 SOTHEBY ’S FINE CLASSICAL CHINESE PAINTINGS & CALLIGRAPHY