Page 308 - Fine Chinese Art Bonhams London May 2018
P. 308

APPENDIX 2                         3    PAYMENT                      4.4   If you have not collected the Lot by the date
                                                                                  specified in the Notice to Bidders, you authorise us,
       BUYER’S AGREEMENT                  3.1    Unless agreed in writing between you and us or as   acting as your agent and on your behalf, to enter
                                               otherwise set out in the Notice to Bidders, you must   into a contract (the “Storage Contract”) with the
       IMPORTANT: These terms may be changed in advance of   pay to us by not later than 4.30pm on the second   Storage Contractor for the storage of the Lot on the
       the Sale of the Lot  to you, by the setting out of different terms   working day following the Sale:  then current standard terms and conditions agreed
       in the Catalogue for the Sale and/or by placing an insert in the           between Bonhams and the Storage Contractor
       Catalogue and/or by notices at the Sale venue and/or by oral   3.1.1    the Purchase Price for the Lot;   (copies of which are available on request).  If the Lot
       announcements before and during the Sale at the Sale venue.                is stored at our premises storage fees at our current
       You should be alert to this possibility of changes and ask in   3.1.2    a Buyer’s Premium in accordance with the rates set   daily rates (currently a minimum of £3 plus VAT per
       advance of bidding if there have been any.  out in the Notice to Bidders on each lot, and  Lot per day) will be payable from the expiry of the
                                                                                  period referred to in paragraph 4.2.  These storage
       1    THE CONTRACT                  3.1.3    if the Lot is marked [ AR ], an Additional Premium   fees form part of our Expenses.
                                               which is calculated and payable in accordance with
       1.1    These terms govern the contract between Bonhams   the Notice to Bidders together with VAT on that sum   4.5    Until you have paid the Purchase Price and any
            personally and the Buyer, being the person to whom   if applicable so that all sums due to us are cleared   Expenses in full the Lot will either be held by us as
            a Lot has been knocked down by the Auctioneer.   funds by the seventh working day after the Sale.  agent on behalf of the Seller or held by the Storage
                                                                                  Contractor as agent on behalf of the Seller and
       1.2    The Definitions and Glossary contained in Appendix   3.2    You must also pay us on demand any Expenses   ourselves on the terms contained in the Storage
            3 to the Catalogue for the Sale are incorporated   payable pursuant to this agreement.  Contract.
            into this agreement and a separate copy can also
            be provided by us on request. Where words and   3.3    All payments to us must be made in the currency   4.6    You undertake to comply with the terms of any
            phrases which are defined in the List of Definitions   in which the Sale was conducted, using, unless   Storage Contract and in particular to pay the
            are used in this agreement, they are printed in italics.   otherwise agreed by us in writing, one of the   charges (and all costs of moving the Lot into storage)
            Reference is made in this agreement to information   methods of payment set out in the Notice to   due under any Storage Contract. You acknowledge
            printed in the Notice to Bidders, printed in the   Bidders. Our invoices will only be addressed to the   and agree that you will not be able to collect the Lot
            Catalogue for the Sale, and where such information   registered Bidder unless the Bidder is acting as an   from the Storage Contractor’s premises until you
            is referred to it is incorporated into this agreement.   agent for a named principal and we have approved   have paid the Purchase Price, any Expenses and all
                                               that arrangement, in which case we will address the   charges due under the Storage Contract.
       1.3    Except as specified in paragraph 4 of the Notice to   invoice to the principal.
            Bidders the Contract for Sale of the Lot between you            4.7    You will be wholly responsible for packing, handling
            and the Seller is made on the fall of the Auctioneer’s   3.4    Unless otherwise stated in this agreement all   and transport of the Lot on collection and for
            hammer in respect of the Lot, when it is knocked   sums payable to us will be subject to VAT at the   complying with all import or export regulations in
            down to you. At that moment a separate contract is   appropriate rate and VAT will be payable by you on   connection with the Lot.
            also made between you and Bonhams on the terms   all such sums.
            in this Buyer’s Agreement.                                      4.8    You will be wholly responsible for any removal,
                                          3.5    We may deduct and retain for our own benefit from   storage, or other charges for any Lot not removed
       1.4    We act as agents for the Seller and are not   the monies paid by you to us the Buyer’s Premium,   in accordance with paragraph 4.2, payable at our
            answerable or personally responsible to you for any   the Commission payable by the Seller in respect   current rates, and any Expenses we incur (including
            breach of contract or other default by the Seller,   of the Lot, any Expenses and VAT and any interest   any charges due under the Storage Contract), all of
            unless Bonhams sells the Lot as principal.  earned and/or incurred until payment to the Seller.  which must be paid by you on demand and in any
                                                                                  event before any collection of the Lot by you or on
       1.5    Our personal obligations to you are governed by   3.6    Time will be of the essence in relation to any   your behalf.
            this agreement and we agree, subject to the terms   payment payable to us. If you do not pay the
            below, to the following obligations:   Purchase Price, or any other sum due to us in   5    STORING THE LOT
                                               accordance with this paragraph 3, we will have the
       1.5.1    we will, until the date and time specified in the Notice   rights set out in paragraph 7 below.      We agree to store the Lot until the earlier of your
            to Bidders or otherwise notified to you, store the Lot                removal of the Lot or until the time and date set out
            in accordance with paragraph 5;  3.7    Where a number of Lots have been knocked down   in the Notice to Bidders, on the Sale Information
                                               to you, any monies we receive from you will be   Page or at the back of the catalogue (or if no date
       1.5.2    subject to any power of the Seller or us to refuse to   applied firstly pro-rata to pay the Purchase Price of   is specified, by 4.30pm on the seventh day after the
            release the Lot to you, we will release the Lot to you   each Lot and secondly pro-rata to pay all amounts   Sale) and, subject to paragraphs 6 and 10, to be
            in accordance with paragraph 4 once you have paid   due to Bonhams.   responsible as bailee to you for damage to or the
            to us, in cleared funds, everything due to us and the                 loss or destruction of the Lot (notwithstanding that it
            Seller;                       4    COLLECTION OF THE LOT              is not your property before payment of the Purchase
                                                                                  Price).  If you do not collect the Lot before the time
       1.5.3   we will provide guarantees in the terms set out in   4.1    Subject to any power of the Seller or us to refuse   and date set out in the Notice to Bidders (or if no
            paragraphs 9 and 10.               to release the Lot to you, once you have paid to us,   date is specified, by 4.30pm on the seventh day
                                               in cleared funds, everything due to the Seller and   after the Sale) we may remove the Lot to another
       1.6    We do not make or give and do not agree to make   to us, we will release the Lot  to you or as you may   location, the details of which will usually be set out
            or give any contractual promise, undertaking,   direct us in writing. The Lot will only be released on   in the relevant section of the Catalogue. If you have
            obligation, Guarantee, warranty, representation of   production of a buyer collection document, obtained   not paid for the Lot in accordance with paragraph 3,
            fact in relation to any Description of the Lot or any   from our cashier’s office.  and the Lot is moved to any third party’s premises,
            Estimate in relation to it, nor of the accuracy or                    the Lot will be held by such third party strictly to
            completeness of any Description or Estimate which   4.2    You must collect and remove the Lot at your own   Bonhams’ order and we will retain our lien over the
            may have been made by us or on our behalf or by   expense by the date and time specified in the Notice   Lot until we have been paid in full in accordance with
            or on behalf of the Seller (whether made orally or in   to Bidders, or if no date is specified, by 4.30pm on   paragraph 3.
            writing, including in the Catalogue or on Bonhams’   the seventh day after the Sale.
            Website, or by conduct, or otherwise), and whether              6     RESPONSIBILITY FOR THE LOT
            made before or after this agreement or prior to or   4.3    For the period referred to in paragraph 4.2, the Lot
            during the Sale.  No such Description or Estimate is   can be collected from the address referred to in the   6.1    Only on the payment of the Purchase Price to us
            incorporated into this agreement between you and   Notice to Bidders for collection on the days and   will title in the Lot pass to you. However under the
            us. Any such Description or Estimate, if made by us   times specified in the Notice to Bidders. Thereafter,   Contract for Sale, the risk in the Lot passed to you
            or on our behalf, was (unless Bonhams itself sells   the Lot may be removed elsewhere for storage and   when it was knocked down to you.
            the Lot as principal) made as agent on behalf of the   you must enquire from us as to when and where you
            Seller.                            can collect it, although this information will usually be   6.2    You are advised to obtain insurance in respect of the
                                               set out in the Notice to Bidders.  Lot as soon as possible after the Sale.
       2    PERFORMANCE OF THE CONTRACT FOR
            SALE
            You undertake to us personally that you will
            observe and comply with all your obligations and
            undertakings to the Seller under the Contract for
            Sale in respect of the Lot.

                                                                                                  NTB/MAIN/1.2018/V2
   303   304   305   306   307   308   309   310   311   312   313