MAY ANTIQUES AND FINE ART AUCTION PT. 1

CONDITIONS OF SALE All property offered and sold through World of Antiques Inc., ("Auctioneer", or "Broker", or the "Company") shall be offered and sold on the terms and conditions set forth in these Conditions of Sale. By participating in any sale, you acknowledge that you are bound by these terms and conditions. World of Antiques Inc. has made every effort to catalogue and describe accurately property to be sold. The Company, however, assumes no risk, liability or responsibility for the identification or authenticity or authorship, or weight, count, or measure of any property identified in its catalogue or lists of sale. This shall include, among others, the identity of the creator, the period, culture, source of origin, as the case may be, with which the creation of any property is identified in any publication. ALL PROPERTY IS SOLD "AS IS". THE CONSIGNOR MAKES NO WARRANTIES OR REPRESENTATIONS OF ANY KIND WITH RESPECT TO ANY PROPERTY OFFERED FOR SALE, SINCE THE AUCTIONEER IS ACTING SOLELY AS AN AUCTION BROKER, AND, UNLESS OTHERWISE STATED, DOES NOT OWN THE PROPERTY OFFERED FOR SALE. THEREFORE, THE AUCTIONEER MAKES NO WARRANTY OF TITLE, WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR ANY OTHER WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY. 1. Some of the lots in this sale are offered subject to a reserve. The reserve is a confidential minimum price agreed upon by the consignor and World of Antiques Inc. below which the lot will not be sold. In most cases, the reserve will be set below the estimated range, but in no case will it exceed the estimates listed. A representative of World of Antiques Inc. will execute such reserves by bidding for the consignor. In any event and whether or not a lot is subject to a reserve, the auctioneer may reject any bid or raise not commensurate with the value of such lot. 2. All property is sold ?as is? and neither the auctioneer nor any consignor makes any warranties or representation of any kind or nature with respect to the property, and in no event shall they be responsible for the correctness, nor deemed to have made any representation or warranty, of description, genuineness, authorship, attribution, provenance, period, culture, source, origin, or condition of the property and no statement made at the sale, or in the bill of sale, or invoice or elsewhere shall be deemed such a warranty of representation or an assumption of liability. 3. Except as provided in paragraph 1 above, the highest bidder as determined by the auctioneer shall be the purchaser. In the case of a disputed bid, the auctioneer shall have sole discretion in determining the purchaser and may also, at his or her election, withdraw the lot or reoffer the lot for sale. The auctioneer shall have sole discretion to refuse any bid, or refuse to acknowledge any bidder. Any bidder that plans on spending in excess of $100,000 should make arrangements with the accounting department at least five (5) days in advance of the sale, as a deposit may be required to participate. 4. All invoices must be paid and shipped within 10 days of the auction, after 10 days there will be a $5 a day storage fee assessed, and after 30 days the lot will be taken from our warehouse and sold/donated. 5. World of Antiques Inc. accepts cash or check for payment. Personal checks will be acceptable only if credit has been established with World of Antiques Inc. or if a bank authorization has been received guaranteeing a personal check. World of Antiques Inc. reserves the right to hold merchandise purchased by personal check until the check has cleared the bank. The purchaser agrees to pay World of Antiques Inc. a handling charge of $25.00 to $50.00 for any dishonored payment method. Please contact accounting department for additional payment methods and/or additional fees. 6. If the purchaser breaches any of its obligations under these Conditions of Sale, including its obligation to pay in full the purchase price of all items for which it was the highest successful bidder, World of Antiques Inc. may exercise all of its rights and remedies under the law including, without limitation, (a) canceling the sale and applying any payments made by the purchaser to the damages caused by the purchaser?s breach, and/or (b) offering at public auction, without reserve, any lot or item for which the purchaser has breached any of its obligations, including its obligation to pay in full the purchase price, holding the purchaser liable for any deficiency plus all costs of sale. 7. In no event will the liability of World of Antiques Inc. to any purchaser with respect to any item exceed the purchase price actually paid by such purchaser for such item. 8. Shipping is the responsibility of the purchaser. Upon request, our staff will provide the list of shippers who deliver to destinations within the United States and overseas. Some property that is sold at auction can be subject to laws governing export from the U.S., such as items that include material from some endangered species. Import restrictions from foreign countries are subject to these same governing laws. Granting of licensing for import or export of goods from local authorities is the sole responsibility of the buyer. Denial or delay of licensing will not constitute cancellation or delay in payment for the total purchase price of these lots. 9. All purchases are subject to the California 8.75% sales tax unless the purchaser possesses a California sales tax exemption number. Exemption numbers from other states are accepted in California if presented with a business card or letterhead. Dealers, museums, and other qualifying parties can apply for a California exemption number prior to the auction by contacting the California Department of Corporations and Taxation at 100 Cambridge Street in Boston. 10. Except for property purchased via On?line Auctions, a premium equal to 20% of the final bid price up to and including $500,000, plus 12% of the final bid over $500,000, will be applied to each lot sold, to be paid by the Buyer as part of the purchase price. The buyer?s premium on property purchased via On?line Auctions will be in an amount up to 23% of the final bid price. 11. Bidding on any item indicates your acceptance of these terms and all other terms announced at the time of sale whether bidding in person, through a representative, by phone, by Internet, or other absentee bid. 12. World of Antiques Inc. and its consignors make no warranty or representation, express or implied that the purchaser will acquire any copyright or reproduction rights to any lot sold. World of Antiques Inc. expressly reserves the right to reproduce any image of the lots sold in this catalogue. The copyright in all images, illustrations and written material produced by or for World of Antiques Inc. relating to a lot, including the contents of this catalogue, is, and shall remain at all times, the property of World of Antiques Inc. and shall not be used by the purchaser, nor by anyone else, without our prior written consent. 13. These conditions of sale shall be governed by the laws of the Commonwealth of California (excluding the laws applicable to conflicts or choice of law). The buyer/bidder agrees that any suit for the enforcement of this agreement may be brought, and any action against World of Antiques Inc. in connection with the transactions contemplated by this agreement shall be brought, in the courts of the Commonwealth of California or any federal court sitting therein. The bidder/buyer consents to the nonexclusive jurisdiction of such courts and waives objections that it may now or hereafter have to the venue of any such suit. 14. Product / Merchandise sizing and weight: All product and/or merchandise sizes are in approximation and may not be the actual measurements. World of Antiques Inc. is not liable for any exact size and measurement discrepancies. All sizing and measurements are done to the closest unit of measure; this also applies to the weight of the product/merchandise. Please contact World of Antiques Inc. for more details of a product / merchandise.