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Sotheby’s will pay the irrevocable bidder financial references over weekends Registration Sotheby’s may require such
BUYING AT AUCTION is allocated to the lots for which the or public holidays. Sotheby’s decision necessary financial references, guarantees,
irrevocable bidder is not the successful whether to accept any pre-registration deposits and/or such other security, in its
The following will help in understanding the purchaser. Under such circumstances, application shall be final. If your application absolute discretion, as security for your
auction buying process as well as some of the total compensation to the irrevocable is accepted, you will be provided with a bid. If you are not successful on any lot,
the terms and symbols commonly used bidder will not exceed the total buyer’s special paddle number. If all lots in the Sotheby’s will arrange for a refund (subject
in an auction catalogue. All bidders should premium and other amounts paid to catalogue are “Premium Lots”, a Special to any right of set off) of the deposit amount
read the Conditions of Sale and Terms of Sotheby’s in respect of any lots for which Notice will be included to this effect and paid by you without interest within 14
Guarantee in this catalogue, as well as the the irrevocable bidder is not the successful this symbol will not be used. working days of the date of the sale. Any
Glossary or any other notices. By bidding bidder. If the irrevocable bid is not secured exchange losses or fees associated with the
at auction, bidders are bound by the until after the printing of the auction 2. BEFORE THE AUCTION refund shall be borne by you. Registration to
Conditions of Sale and Terms of Guarantee, catalogue, Sotheby’s will notify bidders that bid on Premium Lots must be done at least
as amended by any oral announcement there is an irrevocable bid on the lot by one The Catalogue A catalogue prepared by 3 business days prior to the sale.
or posted notices, which together form or more of the following means: a pre-sale Sotheby’s is published for every scheduled
the sale contract among Sotheby’s, or pre-lot announcement, by written notice live auction and is available prior to the sale 3. DURING THE AUCTION
the seller (consignor) of the lot and any at the auction or by including an irrevocable date. The catalogue will help familiarize
bidders, including the successful bidder bid symbol in the e-catalogue for the you with property being offered at the The Auction Auctions are open to
(purchaser). sale prior to the auction. From time to designated auction. Catalogues may be the public without any admission fee or
time, Sotheby’s or any affiliated company purchased at Sotheby’s or by subscription obligation to bid. The auctioneer introduces
may provide the irrevocable bidder with
1. SYMBOL KEY in any categories. For information, please the objects for sale — known as “lots” — in
financing related to the irrevocable bid. If call +1 212 606 7000 or visit sothebys. numerical order as listed in the catalogue.
the irrevocable bidder is advising anyone
□ Reserves com. Prospective bidders should also Unless otherwise noted in the catalogue
Unless indicated by a box ( □ ), all lots with respect to the lot, Sotheby’s requires consult sothebys.com for the most up to or by an announcement at the auction,
in this catalogue are offered subject to the irrevocable bidder to disclose his or her date cataloguing of the property in this Sotheby’s acts as agent on behalf of the
a reserve. A reserve is the confidential financial interest in the lot. If an agent is catalogue. seller and does not permit the seller to bid
minimum hammer price at which a lot will advising you or bidding on your behalf with on his or her own property. It is important
be sold. The reserve is generally set at a respect to a lot identified as being subject Estimates Each lot in the catalogue is for all bidders to know that the auctioneer
percentage of the low estimate and will not to an irrevocable bid, you should request given a low and high estimate, indicating may open the bidding on any lot by placing
exceed the low estimate of the lot. If any that the agent disclose whether or not he to a prospective buyer a range in which the a bid on behalf of the seller. The auctioneer
lots in the catalogue are offered without or she has a financial interest in the lot. lot might sell at auction. When possible, may further bid on behalf of the seller, up
reserve, such lots will be designated by the estimate is based on previous auction to the amount of the reserve, by placing
a box ( □ ). If every lot in a catalogue is ⊻ Interested Parties records of comparable pieces. The responsive or consecutive bids for a lot.
offered without a reserve, the Conditions of Lots with this symbol indicate that parties estimates are determined several months The auctioneer will not place consecutive
Sale will so state and this symbol will not be with a direct or indirect interest in the lot before a sale and are therefore subject bids on behalf of the seller above the
used for each lot. may be bidding on the lot, including (i) the to change upon further research of the reserve.
beneficiary of an estate selling the lot, or property, or to reflect market conditions
○ Guaranteed Property (ii) the joint owner of a lot. If the interested or currency fluctuations. Estimates should Bidding in Person If you would like to
party is the successful bidder, they will be
The seller of lots with this symbol has not be relied upon as a representation or bid, you must register for a paddle upon
been guaranteed a minimum price from required to pay the full Buyer’s Premium. prediction of actual selling prices. entering the salesroom. The paddle is
one auction or a series of auctions. This In certain instances, interested parties may numbered so as to identify you to the
guarantee may be provided by Sotheby’s have knowledge of the reserve. In the event Provenance In certain circumstances, auctioneer. To register, you will need a
or jointly by Sotheby’s and a third party. the interested party’s possible participation Sotheby’s may print in the catalogue the form of identification such as a driver’s
Sotheby’s and any third parties providing in the sale is not known until after the history of ownership of a work of art if such license, a passport or some other type of
a guarantee jointly with Sotheby’s benefit printing of the auction catalogue, a pre-sale information contributes to scholarship government issued identification. If you
financially if a guaranteed lot is sold or pre-lot announcement will be made or is otherwise well known and assists in are a first-time bidder, you will also be
successfully and may incur a loss if the indicating that interested parties may be distinguishing the work of art. However, asked for your address, phone number
sale is not successful. If the Guaranteed bidding on the lot. the identity of the seller or previous owners and signature in order to create your
Property symbol for a lot is not included ◉ may not be disclosed for a variety of account. If you are bidding for someone
in the printing of the auction catalogue, a Restricted Materials reasons. For example, such information else, you will need to provide a letter from
pre-sale or pre-lot announcement will be Lots with this symbol have been identified may be excluded to accommodate a seller’s that person authorizing you to bid on that
made indicating that there is a guarantee at the time of cataloguing as containing request for confidentiality or because the person’s behalf. Issuance of a bid paddle is
on the lot. organic material which may be subject to identity of prior owners is unknown given in Sotheby’s sole discretion.
restrictions regarding import or export.
Once the first bid has been placed,
△ Property in which Sotheby’s has an The information is made available for the the age of the work of art. the auctioneer asks for higher bids, in
Ownership Interest convenience of bidders and the absence of Specialist Advice Prospective bidders increments determined by the auctioneer.
Lots with this symbol indicate that Sotheby’s the symbol is not a warranty that there are may be interested in specific information To place your bid, simply raise your paddle
owns the lot in whole or in part or has an no restrictions regarding import or export not included in the catalogue description until the auctioneer acknowledges you.
economic interest in the lot equivalent to an of the Lot; bidders should refer to Condition of a lot. For additional information, please You will know when your bid has been
ownership interest. 12 of the Conditions of Sale. Please also contact either a Sotheby’s specialist in acknowledged; the auctioneer will not
refer to the section on Endangered Species charge of the sale (all of whom are listed mistake a random gesture for a bid.
⋑ Irrevocable Bids in the information on Buying at Auction. in the front of the catalogue), or Sotheby’s If you wish to register to bid on a
Lots with this symbol indicate that a party Client Services Department. You may Premium Lot, please see the paragraph
has provided Sotheby’s with an irrevocable ∏ Monumental also request a condition report from the above.
bid on the lot that will be executed during Lots with this symbol may, in our opinion, specialist in charge. All lots sold will be invoiced to the name
the sale at a value that ensures that the lot require special handling or shipping and address in which the paddle has been
will sell. The irrevocable bidder, who may services due to size or other physical The Exhibition An exhibition of the registered and cannot be transferred to
bid in excess of the irrevocable bid, may be considerations. Bidders are advised to auction property will be held the week prior other names and addresses. Sotheby’s
compensated for providing the irrevocable inspect the lot and to contact Sotheby’s to the auction on the days listed in the front reserves the right to refuse to accept
bid by receiving a contingent fee, a fixed prior to the sale to discuss any specific of the catalogue. There you will have the payment from a source other than the
fee or both. If the irrevocable bidder is the shipping requirements. opportunity to view, inspect and evaluate buyer of record.
successful bidder, any contingent fee, fixed the property yourself, or with the help of a
fee or both (as applicable) for providing Premium Lot Sotheby’s specialist. Absentee Bidding If it is not possible
the irrevocable bid may be netted against In order to bid on “Premium Lots” ( in for you to attend the auction in person,
the irrevocable bidder’s obligation to pay print catalogue or  in eCatalogue) you Salesroom Notices Salesroom notices you may place your bid ahead of time. In
the full purchase price for the lot and the must com plete the required Premium amend the catalogue description of a lot the back of every catalogue there is an
purchase price reported for the lot shall Lot pre-registration application. You must after our catalogue has gone to press. absentee bid form, which you can use to
be net of any such fees. From time to time, arrange for Sotheby’s to receive your They are posted in the viewing galleries indicate the item you wish to bid on and
Sotheby’s may enter into irrevocable pre-registration application at least three and salesroom or are announced by the the maximum bid you are willing to make.
bid agreements that cover multiple lots. working days before the sale. Please auctioneer. Please take note of them. Return the completed absentee bid form
In such instances, the compensation bear in mind that we are unable to obtain