Discovery Auction 722.2

Ritchie’s Terms and Conditions define and control the relationship with our clients, despite the bidding venue or method the bidder employs. In the case of any disputes or conflicts between our Conditions and those of eBay Live Auctions, Ritchie’s Terms and Conditions will control or prevail. TERMS AND CONDITIONS 1.) The word 'auctioneer' wherever used in these conditions of sale, means Ritchie's Inc. 2.) While the auctioneer has endeavoured to catalogue and describe correctly each lot to be sold, guarantee is not made of the correctness of the catalogue or other descriptions of the physical condition, merchantability, size, medium, importance authenticity, attribution, provenance, exhibitors, literature, historical relevance of any lot and not statement anywhere shall be deemed such a warranty, representation or condition, and no sale will be set aside on account of any imperfections not noted. Each lot is sold "as is", "where is" and without recourse. Further, all catalogue descriptions are subject to any variation announced by the auctioneer in the auction room prior to the time of sale. No representation is made in respect to any copyrights available to any purchaser. All prospective purchasers shall have an opportunity to inspect all lots prior to the time of the auction and it is recommended that they do so. 3.) The auctioneer has the right to refuse any bid and to advance the bidding and set bidding increments, at his absolute discretion. The highest bidder accepted by the auctioneer shall be the buyer. If any dispute should arise between bidders, or in the event of any doubt on the part of the auctioneer as to the validity of any bid, the auctioneer may, at his discretion, determine the successful bidder, or he may reoffer the lot. Note that Ritchie's acts solely as agent for the consignor and makes no representation as to any attribute of, title to, or restriction affecting the property consigned for sale. 4.) If the auctioneer decides that any opening bid is too low, he may reject the same. The auctioneer reserves the right to withdraw any lot from the sale or to divide any lot, or to combine any two or more lots at his sole discretion. 5.) The purchaser will be the highest bidder for the lot accepted by the auctioneer and such purchaser shall assume full risk and responsibility for such lot thereafter, and will thereupon pay the full purchase price therefore, or such part as may be required by Ritchie's. The purchaser shall at the time of such purchase make available to Ritchie's, the name, address and telephone number of the purchaser and make payment as aforesaid. Also, if the required payment is not complied with, Ritchie's may assert a lien and first security interest on any works consigned by the purchaser and any funds owing by Ritchie's to the purchaser and in addition to all other remedies may in its sole discretion resell any of the lots affected without notice to the original purchaser and in such case and the original purchaser shall be responsible to Ritchie's and the consignor for: (a) any deficiency in price between the resale amount and the amount that should have been paid by the original buyer, (b) reasonable charges for storage, (c) any excess commission which would have been earned by Ritchie's had the original sale been completed in full, and (d) such additional fees and charges as may be reasonably incurred by Ritchie's. 6.) Each lot sold is subject to a purchaser’s premium of 15% (20% for Internet bidders) of the purchase price, payable by all successful buyers, charged on the first $250,000.00 of each lot purchased and 12% (17% for Internet bidders) on the excess and shall form a lien and first security interest on any such purchased works. 7.) Each and every lot is sold by the vendor with all faults and defects and with all errors of descritption and is to be taken and paid for whether genuine and authentic or not and no compensation shall be paid for same. 8.) Notwithstanding the previous conditions of sale in paragraph 7 hereof, if within two weeks after the sale of the lot the purchaser gives notice in writing to Ritchie’s Inc. that the lot sold is a forgery and within seven days after such notification the buyer returns the same to Ritchie’s Inc. in the same condition as at the time of sale, Ritchie’s inc. shall have the right to have the purchaser obtain, at the purchaser’s expense, the written opinion of two recognized experts in the field, mutually acceptable to Ritchie’s and the purchaser, before Ritchie’s determines whether to rescind the sale. The purchaser’s sole and only remedy against Ritchie’s and the consignor shall be for a cancellation of the sale and the refund of the original purchase price paid for the particular lot - or alternatively a credit note towards future purchases – and neither Ritchie’s nor the consignor shall be liable in whole or in part for any other costs of transportation, insurance, special, incidental or consequential damages, including without limitation loss of profits. 9.) PAYMENT shall be made by CASH (Canadian or U.S. Currency), CERTIFIED CHEQUE, VISA, MASTERCARD, INTERAC or WIRE TRANSFER and all property shall be removed by the purchaser at purchaser's expense not later that one business day following the sale. If it is not so removed and paid for, and if the account is not settled in full, a handling charge of the greater of 5% of the purchase price or 2% of the purchase price per month (24% per year) until settled and removed, will be payable by the purchaser. In the event that the property is not removed within thirty (30) days after the sale, Ritchie's shall, in addition, have in its discretion the right to sell the property without notice to the buyer, similar to and subject to the same terms as outlined in paragraph 5 and Ritchie's may in its sole discretion send the purchased property to a public warehouse for the account, risk and expense of the purchaser. All charges are subject to applicable taxes including G.S.T. and P.S.T.. The purchaser is solely responsible to arrange and pay for the removal of the property purchased and any insurance, packing, crating or transport thereof. 10.) Each lot offered for sale may be subject to an unpublished reserve in consultation between the consignor and Ritchie's. The auctioneer may bid on behalf of the consignor. Ritchie's may also execute telephone bids as a convenience to a purchaser but will not be held responsible for errors or failures to execute such telephone bid. The purchaser consents to the recording of any telephone conversation as may be required by law and/or Ritchie's. Ritchie's also, as a service, may provide absentee order bids for purchasers who cannot attend the auction. Ritchie's shall attempt to execute the absentee bid at the lowest possible price taking into account the reserve price and other bids. If identical bids are left by two or more parties, the first bid received by Ritchie's will take priority. Ritchie's shall not be responsible for errors or failures to execute such bids. 11.) Parties attending Ritchie's premises before, during or after the sale, do so at their own risk and shall have no claim against Ritchie's in respect to any personal or property damage which may be sustained however caused. Ritchie's reserves the right to refuse admission to any preview or sale or to accept any bids from any particular person or persons at any auction in Ritchie's sole discretion. 12.) The law of the Province of Ontario shall apply to these conditions and any purchase arrangement. In the event of any dispute such dispute shall be settled by way of mediation by a mediator to be chosen by Ritchie's and the purchaser. Failing the ability to chose such mediator or the in the event of the failure of the mediation, the parties agree that this dispute shall be settled by arbitration, pursuant to The Arbitrations Act of Ontario. The decision of the arbitrator shall be final and binding and not subject to appeal. The mediation and/or arbitration shall be held in the City of Toronto, in the Province of Ontario. 13.) Without exception, in order to be considered tax-exempt, you must provide a fully completed, signed, legible, valid copy of your retail sales tax purchase exemption certificate at the time of registration in order to obtain a bidding number. If not available at time of registration, sales tax will be applied to all purchases. You can obtain a refund for the sales tax after providing a copy of the certificate. 14.) Buyers are required to pay any sales tax which may be due, unless exempt by law. The purchaser is liable to pay all taxes in their jurisdiction upon export of an item – accompanied by a document showing proof of export (i.e., waybill or courier chit). ADDITIONAL CONDITIONS OF SALE FOR ON-LINE CUSTOMERS HOW TO BUY - OVERVIEW There are a variety of ways to purchase items at auction: in person, by telephone, live on-line, or through absentee bidding (including via the Internet). ATTENDING THE AUCTION All auctions are preceded by a preview where items can be viewed and handled. Specialists are on hand to answer questions and to provide condition reports. Images may be viewed on-line where available. Please note that Ritchie’s is not responsible for any variations in appearance of on-line photographs. Register prior to the auction and you will be provided with a bidding paddle. The auction proceeds in the lot order published in the catalogue. Please note that in some instances the on-line catalogue will not reflect last-minute changes as it cannot be modified in time for the sale. These changes may be revised estimates/descriptions or withdrawal of an item from the sale. Ritchie’s will make every effort to alert on-line bidders of such changes at the time the lot is presented but we do not guarantee that we can do so in every instance and assume no liability if we cannot. After receiving an opening bid, the auctioneer will proceed in standard increments, receiving bids from the floor, the phones, live on-line, and through absentee bidding (including via the Internet). The auction generally proceeds at a rate of 80-100 lots per hour. BUYER’S PREMIUM A premium per lot is payable by the purchaser of 15% (20% for Internet bidders) of the first $250,000.00 of the hammer price and 12% (17% for Internet bidders) of the amounts over $250,000.00. ABSENTEE BIDDING Ritchie’s shall as a courtesy, undertake to make absentee bids for responsible parties in their absence, yet reserves the right to decline to do so and in no case shall be responsible for failure to do so. Absentee Bidding enables you to leave a bid on an item if you are unable to attend the auction in person. Simply fill out the Absentee Bid Form indicating the lot number of the item(s) you wish to bid on, and the maximum amount you would like to leave. These bids are executed by a member of Ritchie’s staff, or by the auctioneer. Please make note of the option to allow us to bid one increment above your stated maximum. There is also the option of placing an absentee bid on-line. Please note that every bid you make on eBay sites is binding. Bidders do not have the right to withdraw a bid after it has been accepted as the winning bid. Under exceptional circumstances, eBay Live Auctions allows you to retract bids up to two hours prior to the sale. In order to do so you must contact eBay Live Auctions. TELEPHONE BIDDING If you are unable to attend the auction in person, it may be possible to have a representative from Ritchie’s call you to execute bids on your behalf. Simply fill out the Absentee Bid Form and write your telephone number on the form under the column Maximum Bid. The Absentee Bid Form may be downloaded from Ritchies website at: http://www.ritchies.com/ritchies/pdf/absentee.pdf PAYMENT Funds may be wired in CANADIAN OR U.S. DOLLARS to: Bank of Montreal 6 King Street West, Toronto, Ontario M5H 1C3 (416) 867-5325 Bank #001 Account #1122795 Transit #24112 Swift #BOFMCAM2-Transit99 Please add $20.00 for service charges if wiring funds. SHIPPING POLICY Upon receipt of payment in full the following shipping arrangements can be made: Using its discretion, solely as an accommodation to our purchasers, Ritchie’s Auctioneers and Appraisers will pack on its premises certain small, non-fragile, modest value items. All items are the purchaser’s sole responsibility to insure during transit. All clients will be required to sign a waiver releasing Ritchie’s Auctioneers and Appraisers from any liability for damages sustained as a result of such packing or shipping. Packing and shipping will be performed on a first come, first serve basis following receipt of payment in full. Please allow 4-6 weeks for shipment. For large, bulky, fragile or high value items Ritchie’s maintains the following list of independent shipping agents who have indicated a willingness to contract with customers of Ritchie’s on a free-lance basis for a fee. Envoy: 1-416-299-3367 Pacific Art Handling (Pac-Art): 1-416-754-0000 Bren-Art: 1-416-461-7538 The Packaging Store: 1-416-201-4441 Trans Art (Ottawa/Montreal): 1-514-748-5441 SKR: 1-416-285-5355 Fero Transport : 1-514-983-0907 Please be advised that these independent shipping agents have no association with Ritchie’s and do not act on behalf of Ritchie’s. Ritchie’s does not endorse their company, quality of service or rates and is in no way liable for their actions or failure to act, including negligence, and any such liability is totally denied.