Page 144 - Sotheby's London Fine Japanese Art Nov. 2019

headed Property with a ‡ or a Ω symbol. advised to contact the Post Sale Manager amount in lieu of VAT; respect of any lot, including any estimate,
listed in the front of this catalogue before whether written or oral and including in-
• buyers carrying their own property arranging shipping. “Counterfeit” is as defined in Sotheby’s formation in any cataloguing, condition or
must obtain hand-carry papers from the Authenticity Guarantee; other report, commentary or valuation, is
Shipping Department for which a small “Hammer Price” is the highest bid ac- not a representation of fact but rather is a
administrative charge will be made. The CONDITIONS OF BUSINESS cepted by the auctioneer by the fall of the statement of opinion genuinely held by So-
VAT refund will be processed once the FOR BUYERS hammer, (in the case of wine, as appor- theby’s. Any estimate may not be relied on
appropriate paperwork has been returned tioned pro-rata by reference to the number as a prediction of the selling price or value
to Sotheby’s. The nature of the relationship between
Sotheby’s, Sellers and Bidders and the of separately identified items in that lot), of the lot and may be revised from time to
• Sotheby’s is not able to cancel or refund terms on which Sotheby’s (as auctioneer) or in the case of a post-auction sale, the time in Sotheby’s absolute discretion.
any VAT charged on sales made to UK and Sellers contract with Bidders are set agreed sale price; (e) No representations or warranties are
or EU private residents unless the lot is out below.
subject to Temporary Admission and the “Purchase Price” is the Hammer Price and made by Sotheby’s or the Seller as to
applicable Buyer’s Premium and VAT;
whether any lot is subject to copyright or
property is exported from the EU and Bidders’ attention is specifically drawn to
the requisite export papers provided to Conditions 3 and 4 below, which require “Reserve” is the (confidential) minimum whether the Buyer acquires copyright in
any lot.
Sotheby’s within one month of collection them to investigate lots prior to bidding Hammer Price at which the Seller has
of the property. and which contain specific limitations and agreed to sell a lot; (f) Subject to the matters referred to at
exclusions of the legal liability of Sotheby’s 3(a) to 3(e) above and to the specific
• Sotheby’s is not able to cancel or refund and Sellers. The limitations and exclusions “Seller” is the person offering a lot for exclusions contained at Condition 4 below,
any VAT charged on sales to UK or EU relating to Sotheby’s are consistent with sale (including their agent (other than Sotheby’s shall exercise such reasonable
private residents unless the lot is subject its role as auctioneer of large quantities Sotheby’s), executors or personal repre- care when making express statements
to Temporary Admission and is shipped as of goods of a wide variety and Bidders sentatives); in catalogue descriptions or condition
described above. should pay particular attention to these “Sotheby’s” means Sotheby’s, the un- reports as is consistent with its role as auc-
Buyers intending to export, repair, restore Conditions. limited company which has its registered tioneer of lots in the sale to which these
or alter lots sold under Temporary Admis- office at 34-35 New Bond Street, London Conditions relate, and in the light of:
sion (‡ or Ω symbols) and therefore trans- 1. INTRODUCTION W1A 2AA;
ferred to Customs Warehouse after sale (a) Sotheby’s and Sellers’ contractual “Sotheby’s Company” means both (i) the information provided to it by the
Seller;
should notify the Shipping Department relationship with prospective Buyers is
before collection. Failure to do so may governed by: Sotheby’s in the USA and any of its subsid- (ii) scholarship and technical knowledge;
iaries (including Sotheby’s in London) and
result in the import VAT becoming payable and
immediately and Sotheby’s being unable (i) these Conditions of Business; Sotheby’s Diamonds SA and its subsidiar- (iii) the generally accepted opinions of
ies (in each case “subsidiary” having the
to refund the VAT charged on deposit. (ii) the Conditions of Business for Sellers meaning of Section 1159 of the Companies relevant experts, in each case at the time
displayed in the saleroom and which are
6. VAT REFUNDS FROM HM REVENUE available upon request from Sotheby’s UK Act 2006); any such express statement is made.
AND CUSTOMS salerooms or by telephoning +44 (0)20 “VAT” is Value Added Tax at the prevailing 4. EXCLUSIONS AND LIMITATIONS OF
Where VAT charged cannot be cancelled or re- 7293 6482; rate. Further information is contained in LIABILITY TO BUYERS
funded by Sotheby’s, it may be possible to seek (iii) Sotheby’s Authenticity Guarantee as the guide to Buying at Auction. (a) Sotheby’s shall refund the Purchase
repayment from HM Revenue and Customs. published below; 3. DUTIES OF BIDDERS AND OF
Repayments in this manner are limited to busi- SOTHEBY’S IN RESPECT OF ITEMS FOR Price to the Buyer in circumstances where
it deems that the lot is a Counterfeit and
nesses located outside the UK. (iv) any additional notices and terms pub- SALE
lished by Sotheby’s, including the guide to each of the conditions of the Authenticity
Claim forms are available from: Buying at Auction; and (a) Sotheby’s knowledge in relation Guarantee has been satisfied.
HM Revenue and Customs to each lot is partially dependent on (b) In the light of the matters in Condition 3
VAT Overseas Repayments Unit (v) in respect of online bidding via an information provided to it by the Seller, and above and subject to Conditions 4(a) and
PO Box 34, Foyle House Online Platform, the Additional Terms and Sotheby’s is not able to and does not carry 4(e), neither any Sotheby’s Company nor
Duncreggan Road, Londonderry Conditions for Online Bidding published be- out exhaustive due diligence on each lot. the Seller:
Northern Ireland, BT48 7AE low and available on www.sothebys.com and Bidders acknowledge this fact and accept
Tel: +44 (0)2871 305100 the Sotheby’s App, in each case as amended responsibility for carrying out inspections (i) is liable for any errors or omissions in in-
Fax: +44 (0)2871 305101 by any saleroom notice or auctioneer’s an- and investigations to satisfy themselves as formation provided to Bidders by Sotheby’s
enq.oru.ni@hmrc.gsi.gov.uk nouncement at the live auction. to the lots in which they may be interested. (or any Sotheby’s Company), whether
(b) As auctioneer, Sotheby’s acts as agent orally or in writing, whether negligent or
7. SALES AND USE TAXES for the Seller. A sale contract is made (b) Each lot offered for sale at Sotheby’s otherwise, except as set out in Condition
Buyers should note that local sales taxes directly between the Seller and the Buyer. is available for inspection by Bidders prior 3(f) above;
to the sale. Sotheby’s accepts bids on
or use taxes may become payable upon However, Sotheby’s may own a lot (and lots solely on the basis that Bidders (and (ii) gives any guarantee or warranty to
import of items following purchase (for in such circumstances acts in a principal independent experts on their behalf, to Bidders and any implied warranties and
example, use tax may be due when capacity as Seller) and/or may have a the extent appropriate given the nature conditions are excluded (save in so far as
purchased items are imported into certain legal, beneficial or financial interest in a lot and value of the lot and the Bidder’s own such obligations cannot be excluded by law)
states in the US). Buyers should obtain as a secured creditor or otherwise. expertise) have fully inspected the lot prior other than the express warranties given by
their own advice in this regard. to bidding and have satisfied themselves the Seller to the Buyer in Condition 2 of the
2. COMMON TERMS
In the event that Sotheby’s ships items for as to both the condition of the lot and the Sellers’ Conditions of Business;
a purchaser in this sale to a destination In these Conditions of Business: accuracy of its description. (iii) accepts responsibility to any Bidders
within a US state in which Sotheby’s is “Bidder” is any person considering, (c) Bidders acknowledge that many lots in respect of acts or omissions (whether
registered to collect sales tax, Sotheby’s is making or attempting to make a bid, by are of an age and type which means that negligent or otherwise) by Sotheby’s in
obliged to collect and remit the respective whatever means, and includes Buyers; they are not in perfect condition. All lots connection with the conduct of auctions
state’s sales / use tax in effect on the total are offered for sale in the condition they or for any matter relating to the sale of
purchase price (including hammer price, “Buyer” is the person who makes the high- are in at the time of the auction (whether any lot.
buyer’s premium, shipping costs and est bid or offer accepted by the auctioneer, or not Bidders are in attendance at the
insurance) of such items, regardless of the and includes such person’s principal when auction). Condition reports may be (c) Unless Sotheby’s owns a lot offered for
country in which the purchaser resides bidding as agent; available to assist when inspecting lots. sale, it is not responsible for any breach of
or is a citizen. Where the purchaser has “Buyer’s Expenses” are any costs or Catalogue descriptions and condition these conditions by the Seller.
provided Sotheby’s with a valid Resale expenses due to Sotheby’s from the Buyer reports may on occasions make reference (d) Without prejudice to Condition 4(b),
Exemption Certificate prior to the release and any Artist’s Resale Right levy payable to particular imperfections of a lot, but any claim against Sotheby’s or the Seller
of the property, sales / use tax will not in respect of the sale of the Property, Bidders should note that lots may have by a Bidder is limited to the Purchase Price
be charged. Clients who wish to provide including an amount in respect of any ap- other faults not expressly referred to in the with regard to that lot. Neither Sotheby’s
resale or exemption documentation for plicable VAT thereon; cataloguing or condition report. Illustra- nor the Seller shall under any circumstanc-
their purchases should contact Post Sale tions are for identification purposes only es be liable for any consequential losses.
Services. “Buyer’s Premium” is the commission and will not convey full information as to
payable by the Buyer on the Hammer Price (e) None of this Condition 4 shall exclude
Clients who wish to have their purchased at the rates set out in the guide to Buying the actual condition of lots. or limit Sotheby’s liability in respect of
lots shipped to the US by Sotheby’s are at Auction plus any applicable VAT or an (d) Information provided to Bidders in any fraudulent misrepresentation made
143 SOTHEBY’S