Page 131 - March 23, 2022 Sotheby's NYC Fine Chinese Works of Art

to merchantability and fitness for a 4. BUYER REPRESENTATIONS AND authority having jurisdiction over the seek to carry out absentee written bids, intervals unless a bid is placed within information shown in the “My Bids” as eligible for such in the Catalogue or the following: (1) you own the digital
particular purpose, except in so far as WARRANTIES purchase and with the prior express endeavoring to ensure that the first one minute of a Lot’s scheduled closing section of the Sotheby’s App and in by any oral or written announcement wallet and the cryptocurrency used to
such obligations cannot be excluded (a) You represent and warrant to us and written consent of Sotheby’s; received of identical written bids has time, in which case we will extend the the “Account Activity” section of “My or notice prior to or during the sale, and make payment; (2) the digital wallet
by law. Neither we nor the Seller give the Seller that at all relevant times: (x) if you are acting as agent on priority. Sotheby’s also offers clients the sale of that Lot by two minutes from Account” on our website is provided only in the following cryptocurrencies: or account is not directly or indirectly
you any guarantee, representation behalf of a principal, you have taken opportunity to bid through our Online the time of the last bid. The extension for your convenience only. In the event Bitcoin (BTC), Ether (ETH) and USD hosted, operated, or otherwise
or warranty as to the correctness (i) your bids on any Lot are genuine steps reasonably designed to ensure Platforms. If you elect to bid through an of any Lot’s closing time does not affect of any discrepancy between the online Coin (USDC). controlled by anyone that is the subject
of the Catalogue or other images and are not the product of any collusive compliance with Sanctions, anti- Online Platform, you are responsible for any other Lot’s closing time; therefore, purchase information and the invoice (ii) The amount due will be the of Sanctions or located, resident, or
or descriptions of the condition, or other anti-competitive agreement money laundering, anti-terrorism, and making yourself aware of all salesroom it is possible that Lots will close out of we send you following the sale, the cryptocurrency equivalent at the organized in a Sanctioned Jurisdiction;
completeness, size, quality, rarity, and are otherwise consistent with any anti-bribery or anti-corruption laws, notices and announcements, which will numerical Lot order. invoice will prevail. time payment is made of the amount (3) the cryptocurrency or any other
value, importance, medium, frame, applicable antitrust laws; including but not limited to, conducting be accessible on the Online Platforms. (c) NOTICE: The auctioneer (or, in a (ii) The Buyer’s Premium and Overhead invoiced, and Buyer will be responsible assets in the digital wallet or account
provenance, exhibition history, or (ii) your performance under this appropriate due diligence on your (e) Where available, written bids, timed auction, the online system) may Premium will be added to the Hammer for applicable network fees required to used for the bid or purchase were not
literary or historical relevance of any Lot, agreement has not and will not violate principal and screening source of funds. telephone bids and online bids are open bidding on any Lot by placing a Price on a per-Lot basis and are payable successfully conduct the transaction on sourced from anyone that is the subject
and no statement anywhere, whether any applicable law, regulation or code in You will retain and make available upon offered as a courtesy for no additional bid on behalf of the Seller below the by the Buyer as part of the Purchase the blockchain. of Sanctions or located, resident, or
oral or written, will be deemed such a any jurisdiction; request the documentation evidencing charge, at the Bidder›s risk and subject Reserve. The auctioneer may further Price. organized in a Sanctioned Jurisdiction;
warranty, representation or assumption such due diligence for at least five years to our other commitments at the time bid on behalf of the Seller, up to but not (iii) Any payment in cryptocurrency and (4) your payment in cryptocurrency
of liability. Except as expressly set (iii) regarding any alcoholic beverages after the purchase, and all commissions of the auction. We will not accept liability at the Reserve, by placing successive or (iii) The Buyer also must pay as part must be made within ten (10) business will not cause (or otherwise result in)
forth elsewhere in these Conditions, Lots, where required by applicable law, payable to you for this consignment for failure to place written, telephone or consecutive bids for a Lot, or by placing of the Purchase Price any applicable days of your receipt of the invoice us, Sellers, or anyone else to violate
neither we nor the Seller make any you are properly licensed, permitted have been authorized by your principal; online bids. bids in response to other Bidders; in a sales tax, compensating use tax, VAT, from us, and payment must be made any Sanctions, anti-money laundering,
representations or warranties as to or otherwise authorized to purchase, timed auction, such bids will be counted consumption tax, goods or services tax between the hours of 9:00am and anti-terrorism, anti-bribery or anti-
whether any Lot is subject to copyright receive, possess and/or cause to (xi) your purchase will not cause (or (f) All bidding will be in the currency of toward the total bid count displayed on or other indirect taxes, luxury tax, excise 12:00pm Eastern Time, Monday corruption laws, or any other applicable
or whether the Buyer acquires any transport alcoholic beverages; otherwise result in) us, Sellers, or anyone the sale location. Online Bidders will not the Online Platform. tax, and duties or tariffs (collectively, through Friday (and not on a U.S. public laws. We may, in our sole discretion,
copyrights, including but not limited to, (iv) your purchase of a Lot and, if you else to violate any Sanctions, anti-money be able to see the currency conversion “Taxes”), as well as any applicable ARR, holiday). refuse payment in cryptocurrency from
any reproduction rights in any Lot. laundering, anti-terrorism, or anti- board that may be displayed in the (d) The auctioneer (or, in a timed on the purchase of a Lot where and as any Buyer if we reasonably determine
are acting as an agent on behalf of a bribery or anti-corruption laws. auction room. auction, the online system) may required by applicable law. Sotheby’s (iv) Payment must be made from an any of the Buyer’s representations or
(ii) In the case of NFTs, in addition to principal, the arrangement between refuse or reject any bid, including bids will collect any applicable Taxes and account or digital wallet in your name warranties are, or would be as a result of
the above and except for the express you and your principal, will not facilitate (xii) you have full legal authority without (g) You shall not bid on any Lot unless that have previously been accepted, ARR on the purchase of a Lot where and maintained with one of the following such payment, inaccurate, incomplete
representations and warranties given tax crimes; any further action or other party’s your bids are genuine and are not withdraw any Lot, or reopen or continue as required by applicable law. The Buyer platforms: (1) Coinbase Custody or breached.
by the Seller (which may differ from any (v) you have no knowledge or reason consent to enter into and perform the product of any collusive or other the bidding (including after the fall of shall pay the Purchase Price in full Trust; (2) Coinbase, Inc. (including
published Conditions of Business for to suspect that (1) the funds used to this agreement and to give these anti-competitive agreement and the hammer or, in a timed auction, the without any deduction for taxes of any Coinbase, Coinbase Pro and Coinbase (viii) We shall have no liability
Sellers) and the Authenticity Guarantee, purchase a Lot are connected with representations and warranties; if you are otherwise consistent with any close of a Lot). If the Reserve for a Lot is kind, unless such deduction is required Prime accounts); (3) Fidelity Digital for any payment made by you in
which we, as principal, provide to the the proceeds of criminal activity, or are an entity, the individual bidding applicable antitrust laws; and your not met, the auctioneer may withdraw by law. In any such case, the amount Assets Services, LLC; (4) Gemini cryptocurrency that is not received by
Buyer, neither we nor the Seller make (2) you or your principal, if applicable on your behalf is authorized to do so bidding will not violate any applicable the Lot from sale, and the auctioneer due to Sotheby’s from the Buyer will Trust Company, LLC; or (5) Paxos us for whatever reason.
any representations or warranties as (or, if you are an entity, any person(s) and the entity is duly incorporated or law, regulation or code in any or online system will announce that be increased to an amount that after Trust Company, LLC. Partial payments (ix) You acknowledge the risks inherent
to the following: (1) whether the NFT or entity(ies) with a beneficial or formed, validly existing and in good jurisdiction. the withdrawn Lot has been “passed”, deduction for any such taxes leaves an from multiple digital wallets will not to the use of cryptocurrency, including
or any Referenced Content is subject ownership interest in you), are under standing in the jurisdiction where it is (h) We reserve the right to refuse or “withdrawn”, “returned to owner,” amount equal to the Purchase Price. be accepted, and you will be required without limitation the risk of faulty
to copyright; (2) the nature, character, investigation, charged with, or convicted incorporated or formed. revoke permission to bid and to remove “unsold,” “bought-in” or the equivalent. to provide documentation reasonably or insufficient hardware, software,
contents, condition, behavior, operation, of any substantive or predicate money (b) We may, in our sole discretion, bidding privileges before or during a (iv) Payment of the Purchase Price requested to confirm that you own the and internet connections; the risk of
performance, security, integrity, laundering or economic sanctions rescind the sale of a Lot if we reasonably sale for any reason. For live auctions (e) In the case of error or dispute with for a Lot and any Buyer›s Expenses wallet used to make payment. introduction or intrusion of malicious
metadata, persistence, quality, technical crime, terrorist activity, tax evasion or determine any of the Buyer’s with bidding in person, we may refuse respect to bidding, either during or after is due from the Buyer in the currency (v) Payments in cryptocurrency will not code or software; the risk of hacking
details or terms of the smart contract, act in violation of any anti-bribery or representations or warranties are admission to the auction. For timed the auction, we in our sole discretion of the relevant sale (except to the be accepted other than in accordance or unauthorized access to your digital
NFT or the Referenced Content, anti-corruption law (including the UK inaccurate, incomplete or breached. auctions, we also reserve the right to may refuse any bid, withdraw a Lot, extent permitted in Condition 8(b)) with Condition 8(b). If you make wallet or information stored therein, or
including without limitation any further Bribery Act 2010 and the US Foreign deactivate your account at any time determine who the Buyer is, continue immediately upon conclusion of payment in cryptocurrency other of theft or diversion of funds therefrom;
iterations of the same; (3) that the Corrupt Practices Act); 5. INDEMNITY prior to, during, or after an auction. or re-open the bidding, cancel the sale the auction, notwithstanding any than in accordance with Condition volatility and unstable or unfavorable
smart contract, NFT or Referenced You shall indemnify and hold us, of a Lot, or re-offer and re-sell a Lot requirements for export, import or 8(b), including where we determine exchange rates; and the risk of
Content or the delivery mechanism for (vi) you (and your principal, if each Sotheby’s Group company, (i) You agree that your bids, regardless (including after the fall of the hammer other permits. The Buyer’s obligation in our sole discretion that any of your unfavorable regulatory intervention
the NFT does not contain vulnerabilities, applicable) are not, nor are you (or our and their respective officers and of the means by which you have placed or, in a timed auction, the close of a to pay the full Purchase Price and any representations and warranties are and/or tax treatment in relation to
viruses or malware or other harmful your principal, if applicable) owned (in employees, and the Seller harmless the bid, are final and acknowledge that Lot), and take such other action as we applicable Buyer’s Expenses is absolute inaccurate, incomplete or breached, transaction in such currency. We will
components, or that either will function whole or in part), controlled, or acting against any and all claims, causes of you will not be permitted to amend or reasonably deem appropriate. In the and unconditional and is not subject to we may, in our sole discretion, return have no liability for any of the foregoing.
as any bidder or Buyer expects or on behalf of, an entity or individual action, liabilities, damages, losses, and retract your bid. Should your bid be case of any dispute, our sale record will any defenses, setoffs or counterclaims those funds to you and hold you
without error or mistake; (4) the that is: (1) the subject of economic expenses (including but not limited to successful, you irrevocably agree to be absolute and final. In the event of any of any kind whatsoever. responsible for all third-party fees 9. Consequences for Late- or Non-
uniqueness of the Referenced Content; sanctions, embargoes or other trade reasonable attorneys’ fees), arising out pay the full Purchase Price and any discrepancy between any online records (v) We will not accept payment from (including, without limitation, network payment
(5) that an NFT is reliable, correctly restrictions in any jurisdiction, including of or in connection with any inaccuracy, applicable Buyer’s Expenses. We are or messages provided to you and our a source other than the Buyer. If you fees, taxes, transfer fees, etc.), and in (a) Without prejudice to any rights or
programmed, compatible with your or those administered and enforced by the incompleteness or breach of any of not responsible for any errors that you sale record, our sale record will prevail. are registered to bid as a company, such circumstances we may require remedies the Seller may have, if the
others’ computer systems, up-to-date, United States, European Union, United your representations or warranties or make or that are made through your In any such case in which we decide to your company will need to pay for any you to pay in the fiat currency of the Buyer without prior agreement fails
error-free, compatible with your digital Kingdom, United Nations Security breach of your obligations under this Sotheby’s account in bidding on a Lot. cancel the sale of a Lot or to re-offer and purchases in the name of the company sale. In addition, in the event we make to pay the full Purchase Price for a Lot
wallet or meeting your requirements, Council, or other applicable sanctions agreement. 7. CONDUCT OF AN AUCTION re-sell a Lot following an error or dispute via an accepted payment method. any refund of Taxes to you and you and any applicable Buyer’s Expenses
or that defects in the NFT can or will authority (collectively, “Sanctions”), or with respect to bidding, we will notify Partial payment for a Lot, or payment paid such Taxes using cryptocurrency, in cleared funds within five days of the
be corrected; or (6) the accuracy or (2) located, organized, or resident in a 6. BIDDING (a) An auction is by its nature fast- the Buyer of such decision as soon as across multiple credit cards for a single you understand and agree that we, at auction, the Buyer will be in default.
reliability of any simulation or videos country or territory that is the subject of (a) You must create an account and moving and bidding may progress very reasonably practicable. Lot, is not permitted. our sole discretion, may refund you In any such case, we may in our sole
depicting the intended performance Sanctions (including Crimea, Cuba, Iran, provide the requested information in quickly. The auctioneer will commence (f) Subject to Condition 7(e), the Buyer (1) the same amount(s) of the same discretion (having informed the Seller)
of the NFT or the Referenced Content, North Korea, and Syria) (collectively, order to bid. We may require financial and advance the bidding at levels and will be: in a live auction, the highest (vi) Title in a purchased Lot will not pass cryptocurrency that you paid to us exercise one or more of the following
whether displayed on our website or on “Sanctioned Jurisdictions”); references, guarantees, deposits in increments the auctioneer considers Bidder accepted for a Lot at the fall of to the Buyer until we have received the for such Taxes; (2) the amount(s) rights or remedies in respect of each
any other platform. (vii) you (and your principal, if or other security, as we determine appropriate. The auctioneer has the hammer; in a timed auction, the full Purchase Price in cleared funds. We in fiat currency that we invoiced to Lot for which the Buyer has failed to pay
(k) The Buyer is solely responsible for applicable) are currently in compliance, necessary or appropriate, as security discretion to vary bid increments in the highest Bidder accepted for a Lot on will release a Lot to the Buyer after we you for such Taxes; or (3) the fiat in full, in addition to any and all other
auction room and on the telephone but
have received the full Purchase Price
identifying and obtaining any necessary and for the past five years have for your bid(s). Bidders using Online Platforms may the close of the Lot; in the case of a and any applicable Buyer’s Expenses currency equivalent at the time the rights or remedies available to us or the
export, import, firearm, endangered complied, with applicable Sanctions, (b) To bid on a Lot containing an NFT, not be able to place a bid in an amount Bidder bidding as agent, such Bidder’s in cleared funds and appropriate refund is made of the amount(s) of Seller by law or in equity:
species or other permit for a purchased anti-money laundering, anti-terrorism, prior to bidding, you must have a other than a whole bidding increment. principal will be the Buyer. This means identification has been provided, unless cryptocurrency that you paid for such (i) store the Lot at our premises or, if
Lot. Any symbols or notices in the and anti-bribery or anti-corruption laws; digital wallet capable of supporting and Where bidders are permitted to submit that, subject to Condition 7(e), the sale we are prevented from doing so by an Taxes. In no circumstance will you be the Lot is an NFT, in our or the Seller’s
Catalogue reflect our reasonable (viii) the Purchase Price will not be accepting the NFT. online bids in advance of some live contract between the Buyer and the event beyond our control. Any earlier entitled to receive any appreciation digital wallet, or elsewhere at the
opinion at the time of cataloguing and funded directly or indirectly by or from auctions, we reserve the right to adjust Seller is concluded on the striking of the release does not affect the passing on the value of the cryptocurrency Buyer’s sole risk and expense;
are included for informational purposes anyone that is the subject of Sanctions (c) To bid on any Lot designated as a the opening bid prior to the start of the auctioneer’s hammer in a live auction, of title or the Buyer’s unconditional that you provided to us as payment in
only. Without prejudice to Condition or located, organized, or resident in a “Premium Lot,” you must complete the auction. or on the close of a Lot in a timed obligation to pay the full Purchase Price connection with a refund. (ii) cancel the sale of the Lot;
3(j), neither we nor the Seller make Sanctioned Jurisdiction; required Premium Lot pre-registration auction, whereupon the Buyer becomes and any applicable Buyer’s Expenses. (vi) Once you initiate a cryptocurrency (iii) set off any amounts owed to the
any representations or warranties as to application. We must receive your (b) In a timed auction, bidding opens liable to pay the full Purchase Price and transaction, the transaction cannot be Buyer by a Sotheby’s Group Company
whether any Lot is subject to export or (ix) no party directly or indirectly application at least 3 business days at an amount at or below the low any applicable Buyer’s Expenses. (b) Payment in cryptocurrency: for Lots reversed; this is inherent in the nature of against any amounts outstanding from
import restrictions or any embargoes. involved in the transaction will be the prior to the auction, and our decision estimate for the Lot and escalates in bid (g) Any post-auction sale of Lots will be eligible for payment in cryptocurrencies, cryptocurrencies and not a policy set by the Buyer in respect of the Lot;
The denial of any permit or license will subject of Sanctions, nor owned (in whether to accept your application increments that we determine. We may sold pursuant to these Conditions. payments made in cryptocurrency shall us. You are responsible for verifying that
not justify cancellation or rescission whole or in part) or controlled by any will be final. Online bidding may not be vary the amount of the bid increments be subject to the terms in this Condition you have sent the correct amount to the (iv) apply any payments made to us by
of the sale or excuse any delay in individual or entity that is the subject available for Premium Lots. during a timed auction. Lots will be 8. PAYMENT 8(b) in addition to the terms set forth in correct digital wallet address. the Buyer as part of the Purchase Price
payment. We will not deliver a firearm of Sanctions or otherwise located, (d) Sotheby’s advises Bidders to closed sequentially, either by the online (a) Generally. Condition 8(a) above. and Buyer’s Expenses towards such
to a Buyer unless the Buyer has first organized, or resident in a Sanctioned attend the auction, either in person or system or, in some cases, by a live (i) We will accept payment in (vii) If you make payment in Lot or any other Lot purchased by the
supplied evidence to our satisfaction of Jurisdiction, unless expressly through our Online Platforms, but will auctioneer. If by the online system, Lots (i)Buyers will be invoiced after the cryptocurrency only for Lots designated cryptocurrency from a digital wallet or Buyer, or to any shortfall on the resale
compliance with this Condition. authorized in writing by the government will close sequentially in one-minute sale. For online Bidders, the purchase account, you represent and warrant of any Lot pursuant to paragraph (viii)
258 SOTHEBY’S COMPLETE CATALOGUING AVAILABLE AT SOTHEBYS.COM/N10917 259