Page 184 - Sotheby's Junkunc Collection March 2019

to bidding, and whether during or after the impose from the date of sale a late charge of Code. You hereby agree that Sotheby’s may
CONDITIONS OF SALE sale, to determine the successful bidder, to the annual percentage rate of Prime + 6% file financing statements under the New
re-open the bidding, to cancel the sale or of the total purchase price if payment is not York Uniform Commercial Code without
The following Conditions of Sale and Terms to re-offer and re-sell the item in dispute. If made in accordance with the conditions set your signature. Payment will not be deemed
of Guarantee are Sotheby’s, Inc. and the any dispute arises after the sale, our sale forth herein. Please note Sotheby’s reserves to have been made in full until we have
Consignor’s entire agreement with the record is conclusive. In our discretion we will the right to refuse to accept payment from a collected good funds. Any claims relating to
purchaser and any bidders relative to the execute order or absentee bids and accept source other than the buyer of record. any purchase, including any claims under the
property listed in this catalogue. telephone bids and online bids via BIDnow, Unless otherwise agreed by Sotheby’s, Conditions of Sale or Terms of Guarantee,
The Conditions of Sale, Terms of eBay, Invaluable or other online platforms as all property must be removed from our must be presented directly to Sotheby’s.
Guarantee, the glossary, if any, and all other a convenience to clients who are not present premises by the purchaser at his expense In the event the purchaser fails to pay any
contents of this catalogue are subject to at auctions; Sotheby’s is not responsible for not later than 30 calendar days following or all of the total purchase price for any lot
amendment by us by the posting of notices any errors or omissions in connection there- its sale. Purchasers are reminded that and Sotheby’s nonetheless elects to pay the
or by oral announcements made during the with. Prospective bidders should also consult Sotheby’s liability for loss of or damage to Consignor any portion of the sale proceeds,
sale. The property will be offered by us as sothebys.com for the most up to date sold property shall cease upon the earlier the purchaser acknowledges that Sotheby’s
agent for the Consignor, unless the catalogue cataloguing of the property in this catalogue. of (a) 30 calendar days after the date of the shall have all of the rights of the Consignor to
indicates otherwise. By participating in the sale, you represent auction and (b) our release of the property to pursue the purchaser for any amounts paid
By partici pating in any sale, you and warrant that any bids placed by you, the purchaser or the purchaser’s designated to the Consignor, whether at law, in equity, or
acknowledge that you are bound by these or on your behalf, are not the product of agent. Upon the expiration of such 30 under these Conditions of Sale.
terms and conditions. any collusive or other anti-competitive calendar day period or upon such earlier
agreement and are otherwise consistent with release, as applicable: (i) the purchaser 10. Reserve All lots in this catalogue are
1. As Is Goods auctioned are often of some federal and state antitrust law. bears full liability for any and all loss of or offered subject to a reserve, which is the
age. The authenticity of the Authorship In order to bid on “Premium Lots” you damage to the property; (ii) the purchaser confidential minimum hammer price at
(as defined below) of property listed in must complete the required Premium Lot releases Sotheby’s, its affiliates, agents which a lot will be sold. No reserve will
the catalogue is guaranteed as stated in pre-registra tion application. Sotheby’s and warehouses from any and all liability exceed the low presale estimate stated in
the Terms of Guarantee and except for decision whether to accept any pre- and claims for loss of or damage to the the catalogue, or as amended by oral or
the Limited Warranty contained therein, registration application shall be final. You property; and (iii) the purchaser agrees to posted notices. We may implement such
all property is sold “AS IS” without any must arrange for Sotheby’s to receive your indemnify and hold Sotheby’s, its affiliates, reserve by opening the bidding on behalf of
representations or warranties by us or the pre-registration application at least three agents and warehouses harmless from the Consignor and may bid up to the amount
Consignor as to merchantability, fitness working days before the sale. Please bear in and against any and all liability for loss of of the reserve, by placing successive or
for a particular purpose, the correctness mind that we are unable to obtain financial or damage to property and any all claims consecutive bids for a lot, or bids in response
of the catalogue or other description of references over weekends or public holidays. related to loss of or damage to the property to other bidders. In instances where we
the physical condition, size, quality, rarity, Sotheby’s may require such necessary as of and from and after the time Sotheby’s have an interest in the lot other than our
importance, medium, frame, provenance, financial references, guarantees, deposits liability for loss or damage to the property commission, we may bid up to the reserve
exhibitions, literature or historical relevance and/or such other security, in its absolute ceases in accordance with this paragraph. to protect such interest. In certain instances,
of any property and no statement anywhere, discretion, as security for your bid(s). If any applicable conditions herein are the Consignor may pay us less than the
whether oral or written, whether made in the not complied with by the purchaser, the standard commission rate where a lot is
catalogue, an advertisement, a bill of sale, 7. Online Bids via BIDnow or other Online purchaser will be in default and in addition “bought-in” to protect its reserve.
a salesroom posting or announcement, or Platforms: Sotheby’s may offer 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. Tax Unless 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 for selected sales. By participating in a liable for the total purchase price, including combined New York State and local sales
and warranties, express or implied, as sale via any of these Online Platforms, you all fees, charges and expenses more fully tax, any applicable compensating use tax of
to whether the purchaser acquires any acknowledge that you are bound by these set forth herein, we, at our option, may (x) another state, and if applicable, any federal
copyrights, including but not limited to, any Conditions of Sale as well as the Additional 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 Terms and Conditions for Live Online Bidding lots sold to the defaulting purchaser at the price. The rate of such combined tax is
the Consignor are not responsible for errors (“Online Terms”). By participating in a sale same or any other auction, retaining as 8.875% in New York City and ranges from 7%
and omissions in the catalogue, glossary, or via any Online Platform, Bidders accept liquidated damages all payments made by to 8.625% elsewhere in New York.
any supplemental material. Sotheby’s will not the Online Terms, as well as the relevant the purchaser, or (y) resell the purchased
be responsible or liable for damage to frames Conditions of Sale. Online bidding may not be property, whether at public auction or by 12. Export and Permits It is the
and glass coverings, regardless of the cause. available for Premium Lots. private sale, or (z) effect any combination purchaser’s sole responsibility to identify
thereof. In any case, the purchaser will be and obtain any necessary export, import,
2. Inspection Prospective bidders should 8. Bids Below Reserve If the auctioneer liable for any deficiency, any and all costs, firearm, endangered species or other permit
inspect the property before bidding to deter mines that any opening bid is below the handling charges, late charges, expenses for the lot. Any symbols or notices in the
determine its condition, size, and whether or reserve of the article offered, he may reject of both sales, our com missions on both sale catalogue reflect Sotheby’s reasonable
not it has been repaired or restored. the same and withdraw the article from sale, sales at our regular rates, legal fees and opinion at the time of cataloguing and are for
and if, having acknowledged an opening bid, expenses, collection fees and incidental bidders’ general guidance only; Sotheby’s
3. Buyer’s Premium A buyer’s premium he deter mines that any advance thereafter is damages. We may, in our sole discretion, and the Consignor make no representations
will be added to the hammer price and is insufficient, he may reject the advance. apply any proceeds of sale then due or or warranties as to whether any lot is or is not
payable by the purchaser as part of the total thereafter becoming due to the purchaser subject to export or import restrictions or
purchase price. The buyer’s premium is 25% 9. Purchaser’s Responsibility Subject from us or any affiliated company, or any any embargoes.
of the hammer price up to and including to fulfill ment of all of the conditions set payment made by the purchaser to us or any
$400,000, 20% of any amount in excess of forth herein, on the fall of the auctioneer’s affiliated company, whether or not intended 13. Governing Law and Jurisdiction These
$400,000 up to and including $4,000,000, hammer, the contract between the consignor to reduce the purchaser’s obligations with Conditions of Sale and Terms of Guarantee,
and 13.9% of any amount in excess of and the purchaser is concluded, and the respect to the unpaid lot or lots, to the as well as bidders’, the purchaser’s and our
$4,000,000. winning bidder thereupon will immediately deficiency and any other amounts due to respective rights and obligations hereunder,
pay the full purchase price or such part as us or any affiliated companies. In addition, a shall be governed by and construed and
4. Withdrawal We reserve the right to we may require. Title in a purchased lot will defaulting purchaser will be deemed to have enforced in accordance with the laws of
withdraw any property before the sale and not pass until Sotheby’s has received the granted and assigned to us and our affiliated the State of New York. By bidding at an
shall have no liability whatsoever for such full purchase price in cleared funds. The companies, a continuing security interest of auction, whether present in person or by
withdrawal. purchaser’s obligation to immediately pay first priority in any property or money of or agent, order bid, telephone, online or other
the full purchase price or such part as we owing to such purchaser in our possession, means, all bidders including the purchaser,
5. Per Lot Unless otherwise announced may require is absolute and unconditional custody or control or in the possession, shall be deemed to have consented to the
custody or control of any of our affiliated
by the auctioneer, all bids are per lot as and is not subject to any defenses, setoffs companies, in each case whether at the time exclusive jurisdiction of the state courts of,
numbered in the catalogue. or counterclaims of any kind whatsoever. and the federal courts sitting in, the State
Sotheby’s is not obligated to release a lot of the auction, the default or if acquired at of New York. All parties agree, however, that
6. Bidding We reserve the right to reject to the purchaser until title to the lot has any time thereafter, and we may retain and Sotheby’s shall retain the right to bring
apply such property or money as collateral
any bid. The highest bidder acknowledged passed and any earlier release does not security for the obligations due to us or to proceedings in a court other than the state
by the auctioneer will be the purchaser. The affect the passing of title or the purchaser’s any affiliated company of ours. We shall have and federal courts sitting in the State of New
auctioneer has absolute and sole discretion unconditional obligation to pay the full all of the rights accorded a secured party York.
in the case of error or dispute with respect purchase price. In addition to other remedies
available to us by law, we reserve the right to under the New York Uniform Commercial

182 JUNKUNC: ARTS OF ANCIENT CHINA