FINE ART, ESTATE ANTIQUES, ASIAN ART

Bidding in any manner at any of Our auctions or purchasing at any of Our sales indicates that You have read, understood and accepted the following terms and conditions of sale ("Terms and Conditions"). By so bidding/purchasing You agree to comply with and be bound by these Terms and Conditions. 1. Definitions. The following terms, definitions and references apply to these Terms and Conditions: (a) "Bidder", "You" and/or "Your" refer to a person or entity who bids at an auction or purchases at a sale conducted by Z.A.K.S. Art Auction (see definition below). (b) "Buyer?s Premium" is a payment due Z.A.K.S. Art Auction from a Purchaser equal to 27% of the Successful Bid Amount of a Lot at auction or the purchase price of an Item in a sale (see definitions below). The Buyer?s Premium is due and payable by the Purchaser in addition to the Successful Bid Amount or the purchase price as part of the Total Purchase Price (see definitions below). (c) "Commitment Fee" (as applicable) is defined in Paragraph 13 below. (d) "Consignor" refers to a person who has consigned Property to Z.A.K.S. Art Auction for auction or sale (see definitions below). (e) "Z.A.K.S. Art Auction", "We", "Us", "Our" and/or "Auctioneer" refer to Z.A.K.S. Art LTD. (f) "Property", "Lot" and/or "Item" refer to one or more pieces of personal property identified for auction or sale by Z.A.K.S. Art Auction. (g) "Purchaser" refers to a person who is determined by Z.A.K.S. Art Auction to be the successful Bidder for Property at an auction or who purchases Property at a sale. (h) "Reserve" (as applicable) is defined below. (i) "Successful Bid Amount" is the highest bid for Property acknowledged by Z.A.K.S. Art Auction at an auction. (j) "Total Purchase Price" is the Successful Bid Amount at an auction or the purchase price at a sale plus the Buyers Premium. In addition to the Total Purchase Price other fees, charges and taxes may apply and are due and payable with the Total Purchase Price. 2. No Representation, Warranty or Guaranty; Duty to Inspect. All Property is sold in "AS-IS" / "WHERE-IS" condition and neither Z.A.K.S. Art Auction or the Consignor makes any representation, warranty or guaranty, express or implied, about any Property as to authenticity, origin, description, provenance, condition, attribution, age, date, value, restoration, repair or any other matter, including merchantability or fitness for a particular purpose. No catalog, written material, photograph or statement by Z.A.K.S. Art Auction, its employees or agents, shall be deemed a representation, warranty or guaranty as to any Property described or portrayed. Estimates of value provided in any catalog represent Our opinion of a range of possible values. Actual prices realized can fall below or above this range. Any indications of measurement are approximate. Prospective Bidders are responsible for making all inspections of and determinations about Property, in person or through an agent, before bidding. 3. Payment of the Total Purchase Price of Property plus applicable fees, charges and taxes must be made in full by wire transfer or other acceptable method within seven (7) days after the date of sale of said Property. After approval by Z.A.K.S. Art Auction, which it may withhold in its discretion, payment in an amount less than $5,000.00 may be made by acceptable wire transfer. Property will not be released to You or Your agent until full payment has been made as provided above. ? 4. Remedies for Nonpayment. If a Purchaser fails to pay the Total Purchase Price of Property plus applicable fees, charges and taxes in full by wire transfer or other acceptable method within seven (7) days after the date of sale, in addition to other remedies available to Us and the Consignor by law, including without limitation the right to hold the Purchaser liable for all sums due together with costs of collection, including attorneys fees, We may retain as damages all payments made by the Purchaser. 5. Right to Reject Bids; Disputes. We reserve the right to reject any bid. The highest Bidder acknowledged by the Auctioneer will be the Purchaser. In the event of any dispute or question regarding a bid, the Auctioneer will have sole and final discretion to determine the Purchaser or to withdraw or re-offer the Property for auction or sale. If any dispute arises after an auction or sale, Our records shall be deemed determinative. At Our discretion We may accept order bids or telephone bids, but We are not responsible for any errors or omissions in connection with any such bids. 6. Bidding. If the Auctioneer decides that the amount of the opening bid is less than the value of the Property being offered, the Auctioneer may reject the bid and remove the Property from sale. If, having accepted an opening bid, the Auctioneer decides that an advance is not sufficient, the Auctioneer may reject the advance. 7. Recognized Buyer. After the Auctioneers indication that a Lot has been sold, ownership rights to the Lot will pass to the highest Bidder acknowledged by the Auctioneer upon fulfillment by such Bidder of all the conditions set forth herein. At the conclusion of bidding for a specific Lot, the Bidder (a) assumes full risk and responsibility for the Lot, and (b) is firmly committed to pay the Total Purchase Price of the Lot. 8. Time of the Essence. By submitting a bid on Property You indicate Your agreement to these Terms and Conditions and further agree that time is of the essence with respect to Your obligations under these Terms and Conditions.