Page 91 - Sotheby's Jie Rui Tang Collection Part II Kangxi Porcelain March 2019

6. Bidding We reserve the right to reject or such part as we may require is absolute have granted and assigned to us and our
CONDITIONS OF SALE any bid. The highest bidder acknowledged and unconditional and is not subject to any affiliated companies, a continuing security
by the auctioneer will be the purchaser. The defenses, setoffs or counterclaims of any interest of first priority in any property or
The following Conditions of Sale and Terms auctioneer has absolute and sole discretion kind whatsoever. Sotheby’s is not obligated money of or owing to such purchaser in
of Guarantee are Sotheby’s, Inc. and the in the case of error or dispute with respect to release a lot to the purchaser until title to our possession, custody or control or in
Consignor’s entire agreement with the to bidding, and whether during or after the the lot has passed and any earlier release the possession, custody or control of any
purchaser and any bidders relative to the sale, to determine the successful bidder, to does not affect the passing of title or the of our affiliated companies, in each case
property listed in this catalogue. re-open the bidding, to cancel the sale or purchaser’s unconditional obligation to pay whether at the time of the auction, the
The Conditions of Sale, Terms of to re-offer and re-sell the item in dispute. If the full purchase price. In addition to other default or if acquired at any time thereafter,
Guarantee, the glossary, if any, and all other any dispute arises after the sale, our sale remedies available to us by law, we reserve and we may retain and apply such property
contents of this catalogue are subject to record is conclusive. In our discretion we the right to impose from the date of sale a or money as collateral security for the
amendment by us by the posting of notices will execute order or absentee bids and late charge of the annual percentage rate obligations due to us or to any affiliated
or by oral announcements made during accept telephone bids and online bids via of Prime + 6% of the total purchase price company of ours. We shall have all of the
the sale. The property will be offered by BIDnow, eBay, Invaluable or other online if payment is not made in accordance with rights accorded a secured party under
us as agent for the Consignor, unless the platforms as a convenience to clients who the conditions set forth herein. Please note the New York Uniform Commercial Code.
catalogue indicates otherwise. are not present at auctions; Sotheby’s is Sotheby’s reserves the right to refuse to You hereby agree that Sotheby’s may file
By partici pating in any sale, you not responsible for any errors or omissions accept payment from a source other than financing statements under the New York
acknowledge that you are bound by these in connection there with. Prospective the buyer of record. Uniform Commercial Code without your
terms and conditions. bidders should also consult sothebys.com Unless otherwise agreed by Sotheby’s, signature. Payment will not be deemed
for the most up to date cataloguing of the all property must be removed from our to have been made in full until we have
1. As Is Goods auctioned are often property in this catalogue. premises by the purchaser at his expense collected good funds. Any claims relating
of some age. The authenticity of the By participating in the sale, you represent not later than 30 calendar days following to any purchase, including any claims
Authorship (as defined below) of property and warrant that any bids placed by you, its sale. Purchasers are reminded that under the Conditions of Sale or Terms of
listed in the catalogue is guaranteed as or on your behalf, are not the product of Sotheby’s liability for loss of or damage to Guarantee, must be presented directly
stated in the Terms of Guarantee and any collusive or other anti-competitive sold property shall cease upon the earlier to Sotheby’s. In the event the purchaser
except for the Limited Warranty contained agreement and are otherwise consistent of (a) 30 calendar days after the date of the fails to pay any or all of the total purchase
therein, all property is sold “AS IS” without with federal and state antitrust law. auction and (b) our release of the property price for any lot and Sotheby’s nonetheless
any representations or warranties by us or In order to bid on “Premium Lots” you to the purchaser or the purchaser’s elects to pay the Consignor any portion
the Consignor as to merchantability, fitness must complete the required Premium Lot designated agent. Upon the expiration of the sale proceeds, the purchaser
for a particular purpose, the correctness pre-registra tion application. Sotheby’s of such 30 calendar day period or upon acknowledges that Sotheby’s shall have
of the catalogue or other description of decision whether to accept any pre- such earlier release, as applicable: (i) the all of the rights of the Consignor to pursue
the physical condition, size, quality, rarity, registration application shall be final. You purchaser bears full liability for any and all the purchaser for any amounts paid to the
importance, medium, frame, provenance, must arrange for Sotheby’s to receive loss of or damage to the property; (ii) the Consignor, whether at law, in equity, or
exhibitions, literature or historical relevance your pre-registration application at least purchaser releases Sotheby’s, its affiliates, under these Conditions of Sale.
of any property and no statement three working days before the sale. Please agents and warehouses from any and all
anywhere, whether oral or written, whether bear in mind that we are unable to obtain liability and claims for loss of or damage 10. Reserve All lots in this catalogue are
made in the catalogue, an advertisement, financial references over weekends or to the property; and (iii) the purchaser offered subject to a reserve, which is the
a bill of sale, a salesroom posting or public holidays. agrees to indemnify and hold Sotheby’s, its confidential minimum hammer price at
announcement, or elsewhere, shall be Sotheby’s may require such necessary affiliates, agents and warehouses harmless which a lot will be sold. No reserve will
deemed such a warranty, representation financial references, guarantees, deposits from and against any and all liability for exceed the low presale estimate stated
or assumption of liability. We and the and/or such other security, in its absolute loss of or damage to property and any in the catalogue, or as amended by oral
Consignor make no representations discretion, as security for your bid(s). all claims related to loss of or damage to or posted notices. We may implement
and warranties, express or implied, as the property as of and from and after the such reserve by opening the bidding on
to whether the purchaser acquires any 7. Online Bids via BIDnow or other Online time Sotheby’s liability for loss or damage behalf of the Consignor and may bid up
copyrights, including but not limited to, Platforms: Sotheby’s may offer clients to the property ceases in accordance to the amount of the reserve, by placing
any reproduction rights in any property. the opportunity to bid online via BIDnow, with this paragraph. If any applicable successive or consecutive bids for a lot,
We and the Consignor are not responsible eBay, Invaluable or other Online Platforms conditions herein are not complied with or bids in response to other bidders. In
for errors and omissions in the catalogue, for selected sales. By participating in a by the purchaser, the purchaser will be in instances where we have an interest in the
glossary, or any supplemental material. sale via any of these Online Platforms, you default and in addition to any and all other lot other than our commission, we may bid
Sotheby’s will not be responsible or liable acknowledge that you are bound by these remedies available to us and the Consignor up to the reserve to protect such interest.
for damage to frames and glass coverings, Conditions of Sale as well as the Additional by law, including, without limitation, the In certain instances, the Consignor may
regardless of the cause. Terms and Conditions for Live Online right to hold the purchaser liable for the pay us less than the standard commission
Bidding (“Online Terms”). By participating total purchase price, including all fees, rate where a lot is “bought-in” to protect
2. Inspection Prospective bidders should in a sale via any Online Platform, Bidders charges and expenses more fully set forth its reserve.
inspect the property before bidding to accept the Online Terms, as well as the herein, we, at our option, may (x) cancel
determine its condition, size, and whether relevant Conditions of Sale. Online bidding the sale of that, or any other lot or lots 11. Tax Unless exempted by law, the
or not it has been repaired or restored. may not be available for Premium Lots. sold to the defaulting purchaser at the purchaser will be required to pay the
same or any other auction, retaining as combined New York State and local sales
3. Buyer’s Premium A buyer’s premium 8. Bids Below Reserve If the auctioneer liquidated damages all payments made by tax, any applicable compensating use tax
will be added to the hammer price and is deter mines that any opening bid is below the purchaser, or (y) resell the purchased of another state, and if applicable, any
payable by the purchaser as part of the the reserve of the article offered, he may property, whether at public auction or by federal luxury or other tax, on the total
total purchase price. The buyer’s premium reject the same and withdraw the article private sale, or (z) effect any combination purchase price. The rate of such combined
is 25% of the hammer price up to and from sale, and if, having acknowledged thereof. In any case, the purchaser will tax is 8.875% in New York City and ranges
including $400,000, 20% of any amount an opening bid, he deter mines that any be liable for any deficiency, any and all from 7% to 8.625% elsewhere in New York.
in excess of $400,000 up to and including advance thereafter is insufficient, he may costs, handling charges, late charges,
$4,000,000, and 13.9% of any amount in reject the advance. expenses of both sales, our com missions 12. Export and Permits It is the
excess of $4,000,000. on both sales at our regular rates, legal purchaser’s sole responsibility to identify
9. Purchaser’s Responsibility Subject fees and expenses, collection fees and and obtain any necessary export,
4. Withdrawal We reserve the right to to fulfill ment of all of the conditions set incidental damages. We may, in our sole import, firearm, endangered species or
withdraw any property before the sale and forth herein, on the fall of the auctioneer’s discretion, apply any proceeds of sale other permit for the lot. Any symbols
shall have no liability whatsoever for such hammer, the contract between the then due or thereafter becoming due to or notices in the sale catalogue reflect
withdrawal. consignor and the purchaser is concluded, the purchaser from us or any affiliated Sotheby’s reasonable opinion at the
and the winning bidder thereupon will company, or any payment made by the time of cataloguing and are for bidders’
5. Per Lot Unless otherwise announced immediately pay the full purchase price purchaser to us or any affiliated company, general guidance only; Sotheby’s and the
whether or not intended to reduce the
by the auctioneer, all bids are per lot as or such part as we may require. Title in a Consignor make no representations or
numbered in the catalogue. purchased lot will not pass until Sotheby’s purchaser’s obligations with respect to warranties as to whether any lot is or is not
has received the full purchase price in the unpaid lot or lots, to the deficiency subject to export or import restrictions or
cleared funds. The purchaser’s obligation and any other amounts due to us or any embargoes.
to immediately pay the full purchase price any affiliated companies. In addition, a
defaulting purchaser will be deemed to
KANGXI: THE JIE RUI TANG COLLECTION, PART II 89