Grand Estate & Asian Antiques

Auctioneer, Bidder, Buyer and Seller agree to be bound by the following terms & conditions for this Auction. These terms & conditions control this Auction in all regards and supersede all previous announcements, advertisements, catalogs and published information however distributed. All announcements from the Auction block will take precedence over any printed material. 1) REGISTRATION: Bidder must register with eBay Live before bidding. Proper identification will be required. Auctioneer reserves the right to refuse to register any prospective bidder for any reason including low (less then 5) or bad eBay feedback. 2) BUYER PREMIUMS: BP #1) All eBay Live Auction bidders are subject to a standard 17% buyer's premium which will be added to the hammer price for each lot sold on eBay Live Auctions. NO CHECKS. See payment terms below. All Auction absentee bidders (bidders leaving left bids and buyer's bidding via telephone) and onsite live bidders will bid subject to a 12% buyer's premium which will be added to the hammer price for each lot sold. 3) PAYMENT: For those in attendance, all purchases must be paid for in full by the end of the Auction. NO CHECKS. Internet sales must be paid for within 5 BUSINESS DAYS of the sale or Seller may void sale. Please do not make payment until you have received an official invoice from CIS Asset Solutions. Acceptable forms of payment include MasterCard, Visa, Discover, American Express, Bank Wire Transfer. Payments may also be made on business checks when accompanied by a bank letter of guarantee. No personal checks. Charge Cards may also be accepted via the internet through PayPal sent to ebay@cisassetsolutions.com and only when address can be verified. Non-Paying Bidder Alerts are issued with resulting negative feedback if not resolved. 4) BIDDING INCREMENTS: $0 - 199 $10 increments $200 - 499 $25 increments $500 - 999 $50 increments $1,000 -2,999 $100 increments $3,000- 9,999 $250 increments $10,000 -19,999 $500 increments $20,000 + $1,000 increments Important notice: CIS Asset Solutions usually auctions items at the rate of 70 - 90 lots per hour. On some occasions eBay Live bid software or the Internet may not be able to keep up with the pace of the auction. We recommend placing a realistic absentee bid now as insurance to avoid disappointment. Occasionally the auctioneer may eliminate or reject an eBay Live bid, and the auctioneer may also reopen a lot after the close of the eBay live bidding (usually because we missed an audience bid) and may reject your bid even if it shows you as the winning bidder. By bidding via eBay Live, you agree that CIS Asset Solutions may award the lot to another bidder at its sole discretion under the circumstances described above or any other reasonable circumstances. Since eBay bids are not shown to us until we open the lot on the floor, we treat those bids just like floor bids. In most cases the floor responds before the eBay bid is presented to us, due to Internet lag time. For consistency we have made it a policy that floor bids are always considered first over tie eBay live bids. Also please note that all CIS Asset Solutions lots purchased through eBay Live carry a 17% Buyer's Premium. Please make sure you have read the Terms and Conditions before you bid. All final auction and invoice information will be supplied by CIS Asset Solutions and all other information should be considered preliminary. Note to Internet Absentee Bidders: Please adhere to the bidding increments above. It is possible that a lot could go to another bidder for the same amount as your absentee bid. For example, if your maximum eBay bid on an item is $325.00 and the required opening bid is $300.00, eBay will only bid $300.00 since that is all that is required to start the Auction. The Auction begins with you at $300.00. The next increment would be $325.00. If no one else bids, you are the winner at $300.00. If a live auction bidder bids $325.00, they are at $325.00, not you. We always encourage bidders to bid by phone or to leave absentee bids through CIS Asset Solutions directly to avoid such a situation. 5) SHIPPING AND PACKING: WE DO NOT SHIP! ALL SHIPPING IS OUTSOURCED. Arrangements and costs are the sole responsibility of the buyer. Buyer will pay packing, shipping and insurance costs as charged directly to the professional company of his/her choice. Buyer should request a shipping quote prior to bidding. Shipping is not refundable. b) All shippers will be responsible for picking up purchases at our auction site no later than 5:00 P.M. of the fifth business day following the end of the Auction unless prior arrangements have been made with CIS Asset Solutions. Please note that Navis Pack & Ship is our default shipper unless we are notified otherwise. Items not removed by the specified time will be charged storage and handling fees of $15 per item per day until removal (maximum 10 days). Navis Pack & Ship can be contacted at (512) 997-9674, 10200 McKalla Place, Suite 100, Austin TX 78758. 6) ESTIMATES & RESERVES: Pre-sale estimates are intended as guides and may not be reflective of actual gavel price. Some of the items in this Auction are subject to a reserve. The reserve is a confidential minimum price agreed upon by the consignor and CIS Asset Solutions. The reserve will not be higher than the low estimate. 7) SALE CATALOGS: Catalogs, brochures and eBay descriptions are guides only based on information from sources believed to be reliable, but their accuracy cannot be guaranteed or warranted. Auctioneer will not be liable for any errors or omissions. Statements made by Auctioneer and/or staff of Auctioneer whether oral or written, are opinions only and should not be construed as statements of fact. 8) AGENCY: Auctioneer has been hired by Seller to act as Seller's agent in conduction of the Auction. The Auctioneer is not serving as an agent for Bidder or any Buyer. 9) AUCTIONEER DISCRETION: The Auctioneer at his/her discretion may reject any bid not commensurate with the value of the article offered. Auctioneer reserves the right to withdraw any lot, or portion of a lot, from the Auction or to cancel the entire Auction without notice or liability to Auctioneer or Seller. One bid only does not necessarily constitute an Auction and the lot therefore may be withdrawn if only one bid is realized. The Auctioneer may reject nominal bids, small opening bids or very nominal advances made with purpose of disparaging an item. 10) GUARANTEES: Each lot will be sold AS IS, WHERE IS with all defects and faults. No warranties or guarantees of any kind will be given by Seller or Auctioneer including no warranty of fitness, merchantability or suitability. Bidders should carefully inspect each lot to determine condition and contents. All weights, counts and measurements are approximate. Bidder acknowledges that all lots were available for inspection prior to the Auction and that he or she relied solely on their own inspection of the lots and not any information listed in the catalog or otherwise provided by Auctioneer, the Auction staff or Seller. 11) EBAY LIVE INTERNET AUCTION BIDDERS: a) Buyer's premium for all internet bidders is 17%, plus applicable sales taxes to determine the final selling price for that lot. b) Limited Returns: Limited returns are permitted for eBay Live Auctions only as follows: 1) If it is determined to CIS Asset Solutions satisfaction that the physical condition of the property materially differs from what was described in the information listed and/or contained in the written condition reports received or if the description is, in any material respect, inaccurate and 2) The buyer had requested and received a written condition report prior to bidding and 3) The buyer provides of notice of intent to return the item within 24 hours following receipt of the property and 4) The buyer returns the property to CIS Asset Solutions in the same condition as when sold within 10 (ten) days of receiving the property. Shipping is non refundable c) It is also a CIS Asset Solutions policy to have the purchaser obtain, at the purchasers expense, the opinion of one (or two in some cases) recognized experts in the field, mutually acceptable to CIS Asset Solutions and the purchaser, before CIS Asset Solutions determines whether to rescind the sale under the above guarantee. 12) TERMS OF GUARANTEE: CIS Asset Solutions does not guarantee the names or patterns of any Oriental rugs. All rug dimensions are approximate. Regarding jewelry, all weights, grades, sizes, and metal content(s) are approximate. Due to their delicate nature, all clocks and watches are sold as not working even though they may be just fine. Additionally, antiques, by the very nature of their age, have wear that reflects their years of use. As a result, honest wear earned from use is to be expected and is sometimes the proof that an item is an antique. Normal wear will not be noted in the description. Buyers who would like to know the fine points regarding condition should call 1.512.482.8256 prior to the Auction. We would prefer that you examine the items before you place a bid. All other guarantees of authenticity of authorship, expressed or implied, are hereby disclaimed. There is no other warranty, expressed or implied. Each and every lot is sold AS IS. All announcements from the Auction block will take precedence over any printed material. 13) WINNING BIDDERS: The highest bidder for a lot as recognized by the Auctioneer, will be the Buyer subject to the satisfaction of any reserve amount for that lot. A lot is sold when the Auctioneer indicates such in customary manner. Bidder agrees, without exception, that if he is the highest bidder for a lot and it is sold to him, an enforceable contract of sale is immediately formed and no further writing of any kind will be required from him to satisfy any decision, principle, rule, statute or other requirement in law or equity. Buyers should assume that all listed items are reserved unless otherwise stated. We reserve the right to bid on behalf of consignors up to, but not more than, the reserve to protect against selling at a price below the reserve. This will be accomplished as necessary by a proxy placing successive bids, or bids in response to buyers' bids. Auctioneers reserve the right to invoke Auctioneers discretion at any time during the bidding process. 14) ABSENTEE BIDS: We accept absentee bids by mail, fax, in person and on computer via eBay Live on the Internet. Written absentee bids must be processed by no later than 10 AM on the day of the Auction. If you fax your absentee bids, please call us to confirm receipt. All absentee bidding is handled as though you are in attendance. All absentee bidder names and bids are held in strictest confidence, disclosed only in the event of a question after the sale. Absentee bidding is a convenience offered to our customers and, while we will make every effort to execute your instructions, the Auction House is not liable or responsible for any errors or failure to do so. Auctioneer and the Auction Staff are not responsible for any failure to execute absentee bids of any type when failure is caused by human error, electronic or technical failure of any kind. If you place absentee bids with the Auction House, then choose to attend in person, bid by phone or by any other means, it is solely your responsibility to cancel any or all absentee bids prior to the start of the Auction. eBay Live bids may not be canceled. The Auction House is not liable or responsible for any errors or failure to do so. Absentee bid forms are available by calling 512.482.8256. A) "BACK UP BID": Your best bet is to be present at the Auction however, if you can't and you wish to bid by telephone, to help ensure your participation, you might want to consider a "Back Up Bid" at the time you make arrangements for phone bidding. A "Back Up Bid" allows your phone contact here at CIS Asset Solutions to still execute a bid for you in the event they can't get through to you on the telephone. Your phone agent is the only person who will have this bid and will only use it to bid in the event that he/she cannot reach you. Assuming you are reached via telephone, they would not use your bid while you are on the phone. While you are on the phone you may bid greater or lesser than your "Back Up Bid" amount. A "Back Up Bid" is not mandatory; you can place one at your discretion. They are simply a safety device in the event you cannot be reached by telephone in time. B) TIE BIDS: INTERNET BIDDERS PLEASE TAKE NOTE. In the event of a tie between (a) an absentee or internet bidder and (b) a live bidder (persons attending the Auction or participating on the telephone), the live bidder will be the winner of the bid. In the event of a tie between (a) an absentee bid submitted in house, and (b) an eBay live bid or eBay absentee bid, the in house bid will take precedence. 15) POOLING: Bid rigging is a very serious crime and any illegal conduct by bidder or others will be immediately reported by Auctioneer to the U.S.Attorney and Department of Justice for investigation and prosecution to THE FULLEST EXTENT OF THE LAW. Title 15, Section 1 of the U.S. Code provides any agreement among potential bidders not to bid against one another, or otherwise to dampen the bidding process, is a felony under federal law. The law provides for fines of up to $10 million per violation for a corporate offender and $350,000 per violation for others, as well as imprisonment of up to three years. Auctioneer reserves the right to advance the bidding to protect the Seller during any instance where Bid Rigging may be occurring. 16) OWNERSHIP: Ownership, possession and the risk of loss from any cause passes immediately to Buyer when Auctioneer announces the sale of a lot. Buyers are solely responsible for their purchases, and Seller and Auctioneer will have no responsibility for lost, stolen or damaged lots. Auctioneers clerking records will be absolute in the event of a dispute. 17) SALES TAX EXEMPTION: Travis County Texas State Sales tax is 8.25%. Applicable Sales or use taxes will be added to the purchase price of all taxable purchases. To be sales tax exempt, a current sales tax exemption certificate, including sales tax exemption number, must be presented to and retained by cashier to avoid paying sales tax. 18) BIDDER DISPUTES: Should a dispute arise between two or more bidders, the decision of Auctioneer will be final. Bidder is encouraged to make bids clearly visible to Auctioneer to avoid being missed. Auctioneer may determine minimum acceptable increments to advance the bidding. 19) LEGAL DISPUTES: Bidder agrees that any controversy or claim arising out of this Auction, or any related dealings with Auctioneer or Seller, must be resolved by final and binding arbitration with no appeal permitted except as provided by Texas statute. The parties voluntarily waive their rights to seek traditional remedies in any court including the right to a trial by jury. The prevailing party will be entitled to collect from the other its costs associated with the arbitration, including reasonable attorneys fees. Not withstanding, this requirement for binding arbitration, the parties agree Auctioneer and Seller retain their right to pursue a traditional lawsuit against any Buyer for the collection of any payment due them by the Buyer for any purchase at the Auction and it is agreed that in that event the defaulting bidder will be responsible for all of Auctioneers and/or Sellers costs of collection including reasonable attorneys fees of THIRTY THREE AND ONE THIRD PERCENT (33 1/3%), plus a finance charge of TWO PERCENT (2%) PER MONTH (24 PERCENT PER ANNUM) from the date of the Auction until the balance is paid in full. This Agreement will be construed and governed solely in accordance with the laws of the State of Texas and that the exclusive venue for any controversy or claim between them will be in Travis County, Texas. Legal action will be instituted to collect any unpaid account and Buyers agrees to pay all costs of collection. 20) ACCIDENTS: Persons attending the Auction understand that the Auction and site may pose both obvious and hidden dangers, defects and other perils and each person assumes the risk of all injury, loss and/or death from any cause whatsoever and Auctioneer and Seller will have no liability whatsoever. Bidder agrees to indemnify Auctioneer and Seller and hold them harmless for any injury, death or other damage to person or property at the Auction site which was caused by Bidder. 21) DAMAGE: Auctioneer will have no responsibility for any loss or damage resulting from Auctioneer's staff carrying, handling or loading any item(s) for any person. 22) ACCEPTANCE OF TERMS: Registering to bid and or attending the Auction and or placing a bid of any kind indicates full understanding and acceptance of these terms along with the agreement to be so bound. Terms may not be amended in any way except by a signed, written agreement between Auctioneer and Bidder. If there is anything relevant to this Auction that you do not understand, please ask Auctioneer or a member of Auctioneer's staff to assist you. We want your Auction experience to be an informed and positive one. 23) TEXAS LICENSURE: Auctioneer is licensed by the State of Texas and covered by Recovery Fund managed by the Texas Department of Licensing and Regulation. P.O. Box 12157 • Austin, TX 78711, 800-803-9202 • 512-463-2906 • Fax 512-475-2872. Any unresolved complaint should be directed to this department. Linda Mardi is a licensed TX auctioneer, License#16028 24) This Agreement will be construed and governed solely in accordance with the laws of the State of Texas and that the exclusive venue for any controversy or claim between them will be in Travis County, Texas. Consider It Sold, LLC dba CIS ASSET SOLUTIONS Main Office: 8204 N Lamar, Suite B12, Austin Texas 78753 smcclain@cisasetsolutions.com 512.482.8256

Texas sales tax 8.25% applies.