Page 141 - Sotheby's London Fine Japanese Art Nov. 2019

BUYING AT AUCTION ing the live auction at the next increment. an Online Platform or otherwise) should line Platform are subject to the Additional
Upon the closing of each lot in the live auc- read them carefully. They may be amended Terms and Conditions for Online Bidding,
The following is intended to give you useful tion, you will receive an email notification by way of notices posted in the saleroom which are published below and can also
information on how to buy at auction
(including guidance on how to bid during and a push notification (if you have bid via or by way of announcement made by the be viewed below at www.sothebys.com,
the Sotheby’s App and enabled the push
auctioneer.
as well as the Conditions of Business ap-
the online pre-bidding period prior to
the live auction). All bidders should read notification facility) indicating whether Bidding at the Live Auction Bids may be plicable to this sale.
you have won or lost each lot on which you
the following information carefully and executed prior to the start of the live auc- Consecutive and Responsive Bidding
note that Sotheby’s act for the seller. have placed a bid. Alternatively, you may tion by the method explained above and The auctioneer may open the bidding on
continue to bid during the live auction in
Bidders’ attention is specifically drawn to bids may be executed during the live auc- any lot by placing a bid on behalf of the
Conditions 3 and 4, which require them to person or on the telephone, in each case tion in person, on the telephone or online seller. The auctioneer may further bid on
pursuant to the Conditions of Business
investigate lots prior to bidding and which via an Online Platform. behalf of the seller, up to the amount of the
contain specific limitations and exclusions applicable to the relevant sale. Please note Auction speeds vary, but average between reserve, by placing consecutive or respon-
that traditional absentee bids submitted in
of the legal liability of Sotheby’s and sell- sive bids for a lot. Please refer to Condition
ers. The limitations and exclusions relating writing through our Bids Department will 50 and 120 lots per hour. The bidding 6 of the Conditions of Business for Buyers
steps are generally in increments of ap-
not be accepted for this sale.
to Sotheby’s are consistent with its role published below.
as auctioneer of large quantities of goods Pre-sale Estimates Pre-sale estimates proximately 10% of the previous bid. Interested Parties Announcement In situa-
of a wide variety and bidders should pay are intended as a guide for prospective Please refer to Conditions 5 and 6 of
particular attention to these Conditions. buyers. Any bid between the high and low the Conditions of Business for Buyers tions where a person who is allowed to bid
on a lot has a direct or indirect interest in
Prospective bidders should also consult pre-sale estimates would, in our opinion, published below.
www.sothebys.com for the most up to offer a chance of success. However, lots Bidding in Person If you would like to bid in such lot, such as the beneficiary or execu-
tor of an estate selling the lot, a joint owner
date cataloguing of the property. can realise prices above or below the pre-
sale estimates. It is advisable to consult us person at the live auction, you may register of the lot, or a party providing or participat-
Buyer’s Premium A buyer’s premium for a paddle prior to the start of the live ing in a guarantee of the lot, Sotheby’s will
will be added to the hammer price and is nearer the time of sale as estimates can be auction through an Online Platform or by make an announcement in the saleroom
payable by the buyer as part of the total subject to revision. The estimates do not contacting the Bids Department. Alterna- that interested parties may bid on the lot.
purchase price. The buyer’s premium include the buyer’s premium or VAT. tively, you may register for a paddle upon In certain instances, interested parties
is 25% of the hammer price up to and Pre-sale Estimates in US Dollars and entering the saleroom. Proof of identity may have knowledge of the reserves.
including £300,000; 20% on any amount Euros Although the sale is conducted in will be required. If you have a Sotheby’s
in excess of £300,000 up to and including pounds sterling, the pre-sale estimates Client Card, it will facilitate the registration Employee Bidding Sotheby’s employees
£3,000,000; and 13.9% on any remaining in some cases are also published in US process. may bid only if the employee does not
amount in excess of £3,000,000. dollars and/or Euros. The rate of exchange know the reserve and fully complies
These rates are exclusive of any applicable is the rate at the time of publication of Should you be the successful buyer of a with Sotheby’s internal rules governing
VAT. this guide. Therefore, you should treat lot, please ensure that your paddle can employee bidding.
the estimates in US dollars or Euros as a be seen by the auctioneer and that it is US Economic Sanctions The United States
1. BEFORE THE AUCTION guide only. your number that is called out. Should maintains economic and trade sanctions
there be any doubts as to price or buyer,
Catalogue Subscriptions If you would Condition of Lots Prospective buyers are please draw the auctioneer’s attention to against targeted foreign countries, groups
like to take out a catalogue subscription, encouraged to inspect the property at it immediately. and organisations. There may be restric-
please ring +44 (0)20 7293 5000. the pre-sale exhibition. Solely as a conve- tions on the import into the United States
nience, Sotheby’s may also provide condi- All lots sold will be invoiced to the name of certain items originating in sanctioned
Bidding in advance of the live auction If tion reports. The absence of reference and address in which the paddle has been countries, including Burma, Cuba, Iran,
you are unable to attend the live auction in to the condition of a lot in the catalogue registered and cannot be transferred to North Korea and Sudan. The purchaser’s
person, and wish to place bids, or simply description does not imply that the lot is other names and addresses. inability to import any item into the US or
wish to bid in advance of the live auction, free from faults or imperfections. Please Please do not mislay your paddle; in the any other country as a result of these or
you may do so on www.sothebys.com refer to Condition 3 of the Conditions of event of loss, inform the Sales Clerk imme- other restrictions shall not justify cancella-
or via the Sotheby’s App or via any other Business for Buyers below. diately. At the end of the sale, please return tion or rescission of the sale or any delay in
online platform through which bidding is your paddle to the registration desk. payment. Please check with the specialist
made available (each an “Online Platform” Electrical and Mechanical Goods All department if you are uncertain as to
and together, the “Online Platforms”). electrical and mechanical goods are sold Advance Bidding Please note that tradi- whether a lot is subject to these import
In order to do so, you must register an on the basis of their artistic and decorative tional absentee bids submitted in writing restrictions, or any other restrictions on
account with Sotheby’s and provide re- value only, and should not be assumed to through our Bids Department will not be importation or exportation.
quested information. Once you have done be operative. It is essential that prior to accepted for this sale. If you submit an 3. AFTER THE AUCTION
so, navigate to the item of property on any intended use, the electrical system “Advance Bid” (as described above in “BE-
which you want to bid, and click the “Place is checked and approved by a qualified FORE THE AUCTION”) and your bid is not Payment Payment is due immediately
Bid” button. You may bid at or above the electrician. executed up to its maximum value before after the sale and may be made by Sterling
starting bid displayed on the relevant On- Provenance In certain circumstances, the live auction begins, your bid will con- Wire Transfer or Sterling Cheque. Pay-
line Platform. Please note that Sotheby’s Sotheby’s may publish the history of tinue to be executed automatically on your ments by Sterling Cash and by Credit/
reserves the right to lower the starting bid ownership of an item of property if such in- behalf during the live auction up to your Debit Cards are also accepted subject to
prior to the start of the live auction. You formation contributes to scholarship or is predetermined maximum bid. You may certain restrictions and/or surcharges –
may also input your maximum bid which, otherwise well known and assists in distin- also continue to bid during the live auction please see below.
upon confirmation, will be executed auto- guishing the item of property. However, the above your predetermined maximum bid
matically up to this predefined maximum identity of the seller or previous owners via an Online Platform at the next incre- • It is against Sotheby’s general policy to
accept single or multiple related payments
value, in response to other bids, including may not be disclosed for a variety of rea- ment above your maximum bid.
bids placed by Sotheby’s on behalf of the sons. For example, such information may Telephone Bids If you cannot attend the in the form of cash or cash equivalents in
excess of the local currency equivalent of
seller, up to the amount of the Reserve (if be excluded to accommodate a seller’s live auction, we will be happy to execute
applicable). The current leading bid will be request for confidentiality or because the written bids on your behalf or you can bid US$10,000.
visible to all bidders; the value and status identity of prior owners is unknown given on the telephone for lots with a minimum • It is Sotheby’s policy to request any new
of your maximum bid will be visible only the age of the work of art. low estimate of £3,000. Please contact the clients or buyers preferring to make a cash
to you. If the status of your bid changes, Bids Department for further assistance. payment to provide: proof of identity (by
you will receive an email notification and 2. DURING THE AUCTION providing some form of government issued
a push notification (if you have bid via Live Online Bidding If you cannot attend identification containing a photograph,
the Sotheby’s App and enabled the push Conditions of Business The live auction (of the live auction, it is possible to bid live such as a passport, identity card or driver’s
which any bidding in advance of the start
notification facility) prior to the start of the of the live auction (via an Online Platform online via an Online Platform in this sale licence) and confirmation of permanent
04/19 NBS_LIVE AUCTION bid at any time in advance of the live the Conditions of Business and Authentic- ‘’Bidding in advance of the live auction’ Cheques should be made payable to So-
(both before the live auction using the
address. Thank you for your co-operation.
live auction. You may raise your maximum
or otherwise) forms a part) is governed by
method described in the section headed
auction. Once the live auction begins, the
theby’s. Although personal and company
ity Guarantee. These apply to all aspects
‘BEFORE THE AUCTION’ above and during
auctioneer will open bidding at the current
cheques drawn in pounds sterling on UK
of the relationship between Sotheby’s and
the live auction via an Online Platform).
leading bid. The system will automatically
continue to bid on your behalf up to your
property will not be released until such
ers. Anyone considering bidding in the live
an Online Platform on www.sothebys.com
predetermined maximum bid, or you may actual and prospective bidders and buy- For information about registering to bid via banks are accepted, you are advised that
cheques have cleared unless you have a
auction (including by submission of a bid
continue to bid via an Online Platform dur- or via the Sotheby’s App, please refer to
in advance of the start of the live action via www.sothebys.com. Bidders using an On- pre-arranged Cheque Acceptance Facility.
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