Page 53 - Sotheby's Falancai Poppy Bowl Oct. 3, 2018

(c) The auctioneer will commence and transaction or otherwise, towards (i) any (b) If a purchased lot is paid for but not Courts are to have exclusive jurisdiction to
advance the bidding at levels and in costs, Buyer’s Expenses or debts owed by collected within six months of the auction, settle all disputes arising in connection with
increments he considers appropriate and the Buyer to any Sotheby’s Company, and/ the Buyer authorises Sotheby’s, having given all aspects of all matters or transactions to
is entitled to place a bid or series of bids on or (ii) any shortfall in the Purchase Price and notice to the Buyer, to arrange a resale of the which these Conditions of Business relate or
behalf of the Seller up to the Reserve on the Buyer’s Expenses in the event of a resale item by auction or private sale, with estimates apply. All parties agree that Sotheby’s shall
lot, without indicating he is doing so and under Condition 8(h) below (on a pro-rata and reserves at Sotheby’s discretion. The retain the right to bring proceedings in any
whether or not other bids are placed. basis where more than one lot is purchased proceeds of such sale, less all costs incurred court other than the Hong Kong Courts.
by the Buyer at the auction and is then by Sotheby’s, will be forfeited unless collected
(d) Subject to Condition 6(b), the contract resold), and/or (iii) any claim by Sotheby’s by the Buyer within two years of the original Service of Process All Bidders and Sellers
between the Buyer and the Seller is concluded against the Buyer for damages for the auction. irrevocably consent to service of process
on the striking of the auctioneer’s hammer, Buyer’s breach of contract (including but or any other documents in connection
whereupon the Buyer becomes liable to pay not limited to the Buyer’s Premium in the 10. EXPORT AND PERMITS with proceedings in any court by facsimile
the Purchase Price. event of a termination of the sale contract). It is the Buyer’s sole responsibility to identify transmission, personal service, delivery
For the avoidance of doubt, if more than one and obtain any necessary export, import, by mail or in any other manner permitted
(e) Any post-auction sale of lots off ered at lot is purchased by the Buyer at the auction fi rearm, endangered species or other permit by Hong Kong law, the law of the place of
auction shall incorporate these Conditions as and the Buyer makes a partial payment but for the lot and to complete any required export service or the law of the jurisdiction where
if sold in the auction. fails to pay in full the Purchase Price of all or import manifest, list or documentation. proceedings are instituted, at the last address
lots purchased by him within fi ve days of the Any symbols or notices in the sale catalogue of the Buyer or Seller known to Sotheby’s or
7. PAYMENT AND COLLECTION auction or in accordance with any payment refl ect Sotheby’s reasonable opinion at the any other usual address.
(a) Unless otherwise agreed, payment of schedule agreed with Sotheby’s, Sotheby’s time of cataloguing and off er Bidders general
the Purchase Price for a lot and any Buyer’s is entitled, at its absolute discretion, to guidance only. Without prejudice to Conditions General Authenticity Guarantee:
Expenses are due in Hong Kong dollars reject any instruction or request that the 3 and 4 above, Sotheby’s and the Seller If Sotheby’s sells an item which subsequently
immediately on conclusion of the auction whole or a part of such partial payment be make no representations or warranties as to is shown to be a “counterfeit”, subject to the
(the “Due Date”) notwithstanding any applied towards the Purchase Price of, and/ whether any lot is or is not subject to export terms below Sotheby’s will set aside the sale
requirements for export, import or other or the shortfall and/or Sotheby’s claim for or import restrictions or any embargoes. and refund to the Buyer the total amount paid
permits for such lot. damages in respect of, any particular lot(s) The denial of any permit or licence shall not by the Buyer to Sotheby’s for the item, in the
purchased by the Buyer; justify cancellation or rescission of the sale currency of the original sale.
(b) Title in a purchased lot will not pass until contract or any delay in payment. We shall For these purposes, “counterfeit” means
Sotheby’s has received the Purchase Price (e) reject future bids from the Buyer or render not be responsible for any liability arising a lot that in Sotheby’s reasonable opinion
and Buyer’s Expenses for that lot in cleared such bids subject to payment of a deposit; from any failure to complete or submit the is an imitation created to deceive as to
funds. Sotheby’s is not obliged to release such deposit to be applied at Sotheby’s required export or import manifest, list or authorship, origin, date, age, period, culture
a lot to the Buyer until title in the lot has discretion in the event of subsequent non- documentation. or source, where the correct description
passed and appropriate identifi cation has payment or late payment; of such matters is not refl ected by the
been provided, and any earlier release does 11. GENERAL description in the catalogue (taking into
not aff ect the passing of title or the Buyer’s (f) charge interest at a rate not exceeding 2% (a) All images and other materials produced account any Glossary of Terms). No lot shall
unconditional obligation to pay the Purchase per month from the Due Date to the date the for the auction are the copyright of Sotheby’s, be considered a counterfeit by reason only
Price and Buyer’s Expenses. Purchase Price and relevant Buyer’s Expenses for use at Sotheby’s discretion. of any damage and/or restoration and/or
are received in cleared funds; modifi cation work of any kind (including
(c) The Buyer is obliged to arrange collection (b) Notices to Sotheby’s should be in repainting or over-painting).
of purchased lots no later than thirty (30) (g) exercise a lien over any of the Buyer’s writing and addressed to the department
calendar days after the date of the auction. property which is in the possession of in charge of the sale, quoting the reference Please note that this Guarantee does not
Purchased lots are at the Buyer’s risk a Sotheby’s Company. Sotheby’s shall number specifi ed at the beginning of the sale apply if either:-
(and therefore their sole responsibility for inform the Buyer of the exercise of any catalogue. Notices to Sotheby’s clients shall
insurance) from the earliest of such lien and within 14 days of such notice be addressed to the last address formally (i) the catalogue description was in
may arrange the sale of such property and notifi ed by them to Sotheby’s. accordance with the generally accepted
(i) collection or apply the proceeds to the amount owed opinions of scholar(s) and expert(s) at the
(ii) the thirty-fi rst calendar day after the to Sotheby’s, and/or any shortfall in the (c) Should any provision of these Conditions date of the sale, or the catalogue description
auction. Until risk passes, Sotheby’s will Purchase Price and Buyer’s Expenses in of Business be held unenforceable for any indicated that there was a confl ict of such
compensate the Buyer for any loss or damage the event of a resale under Condition 8(h) reason, the remaining provisions shall remain opinions; or
to the lot up to a maximum of the Purchase below (on a pro-rata basis where more in full force and eff ect.
Price paid. Buyers should note that Sotheby’s than one lot is purchased by the Buyer at (ii) the only method of establishing at the date
assumption of liability for loss or damage is the auction and is then resold), and/or any (d) These Conditions of Business are of the sale that the item was a counterfeit
subject to the exclusions set out in Condition claim by Sotheby’s against the Buyer for not assignable by any Buyer without would have been by means of processes
6 of the Conditions of Business for Sellers. damages for the Buyer’s breach of contract Sotheby’s prior written consent, but are not then generally available or accepted,
(including but not limited to the Buyer’s binding on Buyers’ successors, assigns and unreasonably expensive or impractical to use;
8. REMEDIES FOR NON-PAYMENT Premium in the event of a termination of the representatives. No act, omission or delay by or likely to have caused damage to the lot or
Without prejudice to any rights the Seller may sale contract); Sotheby’s shall be deemed a waiver or release likely (in Sotheby’s reasonable opinion) to
have, if the Buyer without prior agreement of any of its rights. have caused loss of value to the lot; or
fails to make payment in full for the lot within (h) resell the lot by auction or private sale,
fi ve days of the auction, or in accordance with with estimates and reserves at Sotheby’s (e) The materials listed in Condition 1(a) (iii) there has been no material loss in
any payment schedule agreed with Sotheby’s, discretion. In the event such resale is for above set out the entire agreement and value of the lot from its value had it been in
Sotheby’s may in its sole discretion (having less than the Purchase Price and Buyer’s understanding between the parties with accordance with its description.
informed the Seller) exercise one or more of Expenses for that lot, the Buyer will remain respect to the subject matter hereof. It is
the following remedies: liable for the shortfall together with all costs agreed that, save in respect of liability for This Guarantee is provided for a period of
incurred in such resale; fraudulent misrepresentation, no party has fi ve (5) years after the date of the relevant
(a) store the lot at its premises or elsewhere entered into any contract pursuant to these auction, is solely for the benefi t of the Buyer
at the Buyer’s sole risk and expense; (i) commence legal proceedings to recover terms in reliance on any representation, and may not be transferred to any third party.
the Purchase Price and Buyer’s Expenses for warranty or undertaking which is not To be able to claim under this Guarantee, the
(b) terminate the contract of the sale of the that lot, or to claim damages for the Buyer’s expressly referred to in such materials. Buyer must:-
lot, retaining the right to damages for the breach of contract, together with interest
Buyer’s breach of contract; and the costs of such proceedings on a full 12. DATA PROTECTION (i) notify Sotheby’s in writing within three
indemnity basis; or We will hold and process your personal (3) months of receiving any information that
(c) set off any amounts owed to the Buyer by information and may share it with causes the Buyer to question the authenticity
a Sotheby’s Company against any amounts (j) release the name and address of the another Sotheby’s Company for use as or attribution of the item, specifying the lot
owed to Sotheby’s by the Buyer in respect of Buyer to the Seller to enable the Seller to described in, and in line with, our Privacy number, date of the auction at which it was
the lot and/or any shortfall in the Purchase commence legal proceedings to recover Policy published on our website at www. purchased and the reasons why it is thought
Price and Buyer’s Expenses in the event of the amounts due or claim damages for the sothebys.com or available on request by to be counterfeit; and
a resale under Condition 8(h) below (on a Buyer’s breach of contract and legal costs. email to enquiries@sothebys.com.
pro-rata basis where more than one lot is Sotheby’s will take reasonable steps to notify (ii) return the item to Sotheby’s in the same
purchased by the Buyer at the auction and is the Buyer prior to releasing such details to the 13. LAW AND JURISDICTION condition as at the date of sale to the Buyer
then resold), and/or any claim by Sotheby’s Seller. and be able to transfer good title in the item,
against the Buyer for damages for the Buyer’s free from any third party claims arising after
breach of contract (including but not limited 9. FAILURE TO COLLECT PURCHASES Governing Law These Conditions of the date of the sale.
to the Buyer’s Premium in the event of a (a) If the Buyer pays the Purchase Price Business and all aspects of all matters,
termination of the sale contract); and Buyer’s Expenses but fails to collect a transactions or disputes to which they relate Sotheby’s has discretion to waive any of the
purchased lot within thirty calendar days or apply shall be governed by and interpreted above requirements. Sotheby’s may require
(d) apply as Sotheby’s sees fi t any of the auction, the lot will be stored at the in accordance with Hong Kong law. the Buyer to obtain at the Buyer’s cost the
payments, including deposits, made by or Buyer’s expense (and risk) at Sotheby’s or reports of two independent and recognised
on behalf of the Buyer in respect of this with a third party. Jurisdiction For the benefi t of Sotheby’s, all experts in the fi eld, mutually acceptable to
Bidders and Sellers agree that the Hong Kong Sotheby’s and the Buyer. Sotheby’s shall

THE FALANGCAI POPPY BOWL 51