Page 112 - Christie's Fine Chinese Paintings March 19 2019 Auction

8 SUCCESSFUL BIDS 2 OUR AUTHENTICITY WARRANTY (vi) defects stated in any condition report or 3 TRANSFERRING RISK TO YOU
Unless the auctioneer decides to use his or her We warrant, subject to the terms below, that the lots in announced at the time of sale. The risk in and responsibility for the lot will transfer to
discretion as set out in paragraph C3 above, when the our sales are authentic (our “authenticity warranty”). (b) To make a claim under this paragraph you must you from whichever is the earlier of the following:
auctioneer’s hammer strikes, we have accepted the If, within 5 years of the date of the auction, you give give written details of the defect and return the (a) When you collect the lot; or
last bid. This means a contract for sale has been formed notice to us that your lot is not authentic, subject to the lot to the sale room at which you bought it in (b) At the end of the 30th day following the date of the
between the seller and the successful bidder. We will terms below, we will refund the purchase price paid the same condition as at the time of sale, within auction or, if earlier, the date the lot is taken into
issue an invoice only to the registered bidder who by you. The meaning of authentic can be found in the 21 days of the date of the sale. care by a third party warehouse as set out on the page
made the successful bid. While we send out invoices by glossary at the end of these Conditions of Sale. The terms (k) South East Asian Modern and Contemporary headed ‘Storage and Collection’, unless we have
mail and/or email after the auction, we do not accept of the authenticity warranty are as follows: Art and Chinese Calligraphy and Painting. agreed otherwise with you.
responsibility for telling you whether or not your bid (a) It will be honored for claims notified within a In these categories, the authenticity warranty
was successful. If you have bid by written bid, you period of 5 years from the date of the auction. After does not apply because current scholarship does not 4 WHAT HAPPENS IF YOU DO NOT PAY
should contact us by telephone or in person as soon as such time, we will not be obligated to honor the permit the making of definitive statements. Christie’s (a) If you fail to pay us the purchase price in full by
possible after the auction to get details of the outcome authenticity warranty. does, however, agree to cancel a sale in either of the due date, we will be entitled to do one or more
of your bid to avoid having to pay unnecessary storage (b) It is given only for information shown in these two categories of art where it has been proven of the following (as well as enforce our rights under
charges. UPPERCASE type in the first line of the the lot is a forgery. Christie’s will refund to the paragraph F5 and any other rights or remedies we
catalogue description (the “Heading”). It does original buyer the purchase price in accordance have by law):
9 LOCAL BIDDING LAWS not apply to any information other than in the with the terms of Christie’s Authenticity Warranty, (i) we can charge interest from the due date at a rate of
You agree that when bidding in any of our sales that you Heading even if shown in UPPERCASE type. provided that the original buyer notifies us with full up to 1.34% per month on the unpaid amount due;
will strictly comply with all local laws and regulations in (c) The authenticity warranty does not apply to any supporting evidence documenting the forgery claim (ii) we can cancel the sale of the lot. If we do this,
force at the time of the sale for the relevant sale site. Heading or part of a Heading which is qualified. within twelve (12) months of the date of the auction. we may sell the lot again, publically or privately
Qualified means limited by a clarification in a lot’s Such evidence must be satisfactory to us that the on such terms we shall think necessary or
D THE BUYER’S PREMIUM AND TAXES catalogue description or by the use in a Heading property is a forgery in accordance with paragraph appropriate, in which case you must pay us any
1 THE BUYER’S PREMIUM of one of the terms listed in the section titled E2(h)(ii) above and the property must be returned shortfall between the purchase price and the
In addition to the hammer price, the successful bidder Qualified Headings on the page of the catalogue to us in accordance with E2h(iii) above. Paragraphs proceeds from the resale. You must also pay all
agrees to pay us a buyer’s premium on the hammer headed “Important Notices and Explanation of E2(b), (c), (d), (e), (f) and (g) and (i) also apply to a costs, expenses, losses, damages and legal fees we
price of each lot sold. On all lots we charge 25% of the Cataloguing Practice”. For example, use of the term claim under these categories. have to pay or may suffer and any shortfall in the
hammer price up to and including US$300,000, 20% “ATTRIBUTED TO…” in a Heading means that seller’s commission on the resale;
on that part of the hammer price over US$300,000 the lot is in Christie’s opinion probably a work by F PAYMENT (iii) we can pay the seller an amount up to the net
and up to and including US$4,000,000, and 13.5% of the named artist but no warranty is provided that 1 HOW TO PAY proceeds payable in respect of the amount bid
that part of the hammer price above US$4,000,000. the lot is the work of the named artist. Please read (a) Immediately following the auction, you must pay by your default in which case you acknowledge
the full list of Qualified Headings and a lot’s full the purchase price being: and understand that Christie’s will have all of
2 TAXES catalogue description before bidding. (i) the hammer price; and the rights of the seller to pursue you for
The successful bidder is responsible for any applicable (d) The authenticity warranty applies to the (ii) the buyer’s premium; and such amounts;
taxes including any sales or use tax or equivalent tax Heading as amended by any Saleroom Notice. (iii) any applicable duties, goods, sales, use, (iv) we can hold you legally responsible for
wherever such taxes may arise on the hammer price, (e) The authenticity warranty does not apply where compensating or service tax, or VAT. the purchase price and may begin legal
the buyer’s premium, and/or any other charges scholarship has developed since the auction leading Payment is due no later than by the end of the proceedings to recover it together with other
related to the lot. to a change in generally accepted opinion. Further, 7th calendar day following the date of the auction losses, interest, legal fees and costs as far as we are
For lots Christie’s ships to or within the United States, it does not apply if the Heading either matched the (the “due date”). allowed by law;
a sales or use tax may be due on the hammer price, generally accepted opinion of experts at the date of the (b) We will only accept payment from the registered (v) we can take what you owe us from any amounts
buyer’s premium, and/or any other charges related auction or drew attention to any conflict of opinion. bidder. Once issued, we cannot change the buyer’s which we or any company in the Christie’s
to the lot, regardless of the nationality or citizenship (f) The authenticity warranty does not apply if the name on an invoice or re-issue the invoice in a different Group may owe you (including any deposit or
of the successful bidder. Christie’s will collect sales tax lot can only be shown not to be authentic by a name. You must pay immediately even if you want to other part-payment which you have paid to us);
where legally required. The applicable sales tax rate will scientific process which, on the date we published export the lot and you need an export licence. (vi) we can, at our option, reveal your identity and
be determined based upon the state, county, or locale the catalogue, was not available or generally accepted (c) You must pay for lots bought at Christie’s in the contact details to the seller;
to which the lot will be shipped. Christie’s shall collect for use, or which was unreasonably expensive or United States in the currency stated on the invoice in (vii) we can reject at any future auction any bids made
New York sales tax at a rate of 8.875% for any lot impractical, or which was likely to have damaged one of the following ways: by or on behalf of the buyer or to obtain a
collected from Christie’s in New York. the lot. (i) Wire transfer deposit from the buyer before accepting any bids;
In accordance with New York law, if Christie’s arranges (g) The benefit of the authenticity warranty is only JP Morgan Chase Bank, N.A., (viii) we can exercise all the rights and remedies of
the shipment of a lot out of New York State, New available to the original buyer shown on the invoice 270 Park Avenue, New York, NY 10017; a person holding security over any property
York sales tax does not apply, although sales tax or other for the lot issued at the time of the sale and only if ABA# 021000021; FBO: Christie’s Inc.; in our possession owned by you, whether by
applicable taxes for other states may apply. If you hire on the date of the notice of claim, the original buyer Account # 957-107978, way of pledge, security interest or in any other
a shipper (other than a common carrier authorized by is the full owner of the lot and the lot is free from for international transfers, SWIFT: CHASUS33. way as permitted by the law of the place where
Christie’s), to collect the lot from a Christie’s New York any claim, interest or restriction by anyone else. The (ii) Credit Card. such property is located. You will be deemed
location, Christie’s must collect New York sales tax benefit of this authenticity warranty may not be We accept Visa, MasterCard, American Express to have granted such security to us and we may
on the lot at a rate of 8.875% regardless of the ultimate transferred to anyone else. and China Union Pay. Credit card payments at retain such property as collateral security for
destination of the lot. (h) In order to claim under the authenticity warranty the New York premises will only be accepted for your obligations to us; and
If Christie’s delivers the lot to, or the lot is collected you must: New York sales. Christie’s will not accept credit (ix) we can take any other action we see necessary
by, any framer, restorer or other similar service provider (i) give us written notice of your claim within 5 years card payments for purchases in any other sale site. or appropriate.
in New York that you have hired, New York law of the date of the auction. We may require full To make a ‘cardholder not present’ (CNP) payment, (b) If you owe money to us or to another Christie’s
considers the lot delivered to the successful bidder in details and supporting evidence of any such claim; you must complete a CNP authorisation form which Group company, we can use any amount you do
New York and New York sales tax must be imposed (ii) at Christie’s option, we may require you to you can get from our Post-Sale Services. You must send pay, including any deposit or other part-payment
regardless of the ultimate destination of the lot. In this provide the written opinions of two recognised a completed CNP authorisation form by fax to +1 212 you have made to us, or which we owe you, to pay
circumstance, New York sales tax will apply to the lot experts in the field of the lot mutually agreed by 636 4939 or you can mail to the address below. Details off any amount you owe to us or another Christie’s
even if Christie’s or a common carrier (authorized by you and us in advance confirming that the lot is of the conditions and restrictions applicable to credit card Group company for any transaction.
Christie’s that you hire) subsequently delivers the lot not authentic. If we have any doubts, we reserve payments are available from our Post-Sale Services, whose
outside New York. the right to obtain additional opinions at our details are set out in paragraph (d) below. 5 KEEPING YOUR PROPERTY
Successful bidders claiming an exemption from sales tax expense; and (iii) Cash If you owe money to us or to another Christie’s
must provide appropriate documentation to Christie’s (iii) return the lot at your expense to the saleroom We accept cash payments (including money Group company, as well as the rights set out in F4
prior to the release of the lot or within 90 days after from which you bought it in the condition it orders and traveller’s checks) subject to a above, we can use or deal with any of your property we
the sale, whichever is earlier. For shipments to those was in at the time of sale. maximum global aggregate of US$7,500 per hold or which is held by another Christie’s Group
states for which Christie’s is not required to collect sales (i) Your only right under this authenticity warranty buyer per year at our Post-Sale Services only company in any way we are allowed to by law. We will
tax, a successful bidder may have a use or similar tax is to cancel the sale and receive a refund of the (iv) Bank Checks only release your property to you after you pay us or the
obligation. It is the successful bidder’s responsibility to pay all purchase price paid by you to us. We will not, You must make these payable to Christie’s Inc. relevant Christie’s Group company in full for what
taxes due. Christie’s recommends you consult your own under any circumstances, be required to pay you and there may be conditions. you owe. However, if we choose, we can also sell your
independent tax advisor with any questions. more than the purchase price nor will we be liable (v) Checks property in any way we think appropriate. We will use
for any loss of profits or business, loss of opportunity You must make checks payable to Christie’s Inc. the proceeds of the sale against any amounts you owe us
or value, expected savings or interest, costs, damages, and they must be drawn from US dollar accounts and we will pay any amount left from that sale to you.
E WARRANTIES
1 SELLER’S WARRANTIES other damages or expenses. from a US bank. If there is a shortfall, you must pay us any difference
(j) Books. Where the lot is a book, we give an (d) You must quote the sale number, your invoice between the amount we have received from the sale and
For each lot, the seller gives a warranty that the seller: additional warranty for 21 days from the date number and client number when making a payment. the amount you owe us.
(a) is the owner of the lot or a joint owner of the lot of the auction that any lot is defective in text or All payments sent by post must be sent to:
acting with the permission of the other co-owners illustration, we will refund your purchase price,
or, if the seller is not the owner or a joint owner of Christie’s Inc. Post-Sale Services, G COLLECTION AND STORAGE
subject to the following terms: 20 Rockefeller Center, New York, NY 10020. (a) You must collect purchased lots within seven days
the lot, has the permission of the owner to sell the (a) This additional warranty does not apply to: (e) For more information please contact our Post-Sale
lot, or the right to do so in law; and (i) the absence of blanks, half titles, tissue guards or Services by phone at +1 212 636 2650 or fax at +1 from the auction (but note that lots will not be
(b) has the right to transfer ownership of the lot to advertisements, damage in respect of bindings, released to you until you have made full and
the buyer without any restrictions or claims by 212 636 4939 or email PostSaleUS@christies.com. clear payment of all amounts due to us).
stains, spotting, marginal tears or other defects (b) Information on collecting lots is set out on the storage
anyone else. not affecting completeness of the text or 2 TRANSFERRING OWNERSHIP TO YOU
If either of the above warranties are incorrect, the seller illustration; and collection page and on an information sheet
shall not have to pay more than the purchase price (as (ii) drawings, autographs, letters or manuscripts, You will not own the lot and ownership of the lot will which you can get from the bidder registration staff or
defined in paragraph F1(a) below) paid by you to us. not pass to you until we have received full and clear Christie’s Post-Sale Services Department on
signed photographs, music, atlases, maps payment of the purchase price, even in circumstances +1 212 636 2650.
The seller will not be responsible to you for any reason or periodicals;
for loss of profits or business, expected savings, loss of (iii) books not identified by title; where we have released the lot to you. (c) If you do not collect any lot within thirty days
opportunity or interest, costs, damages, other damages (iv) lots sold without a printed estimate; following the auction we may, at our option
or expenses. The seller gives no warranty in relation to (i) charge you storage costs at the rates set out at
(v) books which are described in the catalogue as www.christies.com/storage.
any lot other than as set out above and, as far as the seller sold not subject to return; or
is allowed by law, all warranties from the seller to you,
and all other obligations upon the seller which may be
added to this agreement by law, are excluded.