ASIAN WORKS OF ART, ANTIQUITIES & JEWELRY

AUCTION RULES I. GENERAL PROVISIONS 1. Artefino s.r.o., with its registered seat at Vodi?kova 677/10, Nové M?sto, 110 00 Prague 1, ID No. 063 19 467, registered in the Commercial Register administrated by the Municipal Court in Prague, Section C, Insert 279 723, (hereinafter referred to as ?Auction House?), organizes and performs the sale of movable items (hereinafter referred to as ?Auctioned Items? or individually as ?Auctioned Item?). The sale of the Auctioned Items is in form of a non-public auction (hereinafter referred to as ?Auction?). 2. The Auction may also be organized on the basis of an auction sale agreement (hereinafter referred to as ?Agreement?), concluded between the Auction House and the owner of the Auctioned Items, who wishes to sell these (hereinafter referred to as ?Seller?). 3. The Auction House acts under the Agreement as an agent between the Seller and third parties intending to buy the Auctioned Items. The Auction House is authorized to collect auctioned price as well as buyer's premium and VAT. 4. The Auction according to the conditions defined in the Auction Rules is not an auction in the sense of Act No. 26/2000 Coll., On Public Auctions, as amended. II. COURSE OF THE AUCTION 1. The Auction is open to everyone who have properly registered in the Auction and whose registration has been approved by the Auction House (hereinafter referred to as ?Bidder?). Natural persons must be at least 18 years of age and in their full legal capacity, legal persons must be represented by a natural person authorized to act on their behalf. The Bidder can register during the public preview or on the day of sale until the Auction stars by filling out a registration form. Upon registration a valid proof of identity (state issued ID card or passport) must be presented. A registered and approved Bidder is allocated a paddle. 2. The Auction House is entitled without giving any reason to refuse any registration of anyone without limitation and to deny such person the right to participate in the Auction. 3. Bidding is possible in person, by telephone, by absentee bidding and online. The telephone/absentee bid form is available in the auction catalog and on the website of the Auction House (www.artefinoauction.com). In case of the telephone bidding the Bidder must specify the catalog lot numbers he wishes to bid on. In case of the absentee bidding it is necessary to set a financial limit for which the Bidder is willing to purchase the Auctioned Items. The financial limit does not include buyer`s premium. 4. The registration for the telephone or absentee bidding must be made no later than 24 hours before the auction starts, including a copy of a proof of identity (valid state issued ID card or passport). The bid form can be delivered to the Auction House or can be send scanned to e-mail artefinoauction@gmail.com. The Bidder can ask for the bid form to be sent and signed electronically as well. 5. The Auctioned Items are labelled and described, including the estimate price in the auction catalog. The estimate prices do not include buyer`s premium and VAT. The auction catalog is available on the website of the Auction House (www.artefinoauction.com) and in the Auction House. The Auctioned Items are auctioned in the order listed in the catalog. The Auctioned Item is announced by a person authorized by the Auction House to lead the Auction (hereinafter referred to as ?Auctioneer?), then the Bidders may place their bids by visibly raising their paddle. All bids are executed competitively and confidentially. The Auctioned Item is auctioned as long as the Bidders are placing their bids. Before closing the lot, the Auctioneer gives ?fair warning? and states the hammer price and the paddle number of the successful Bidder. The minimum bid increments are determined according to the current auction price of the Auctioned Items. 6. The sequence of increments is settled by the Auctioneer. The Bidders in the auction hall take precedence. At the coincidence of the same written limits the sequence is settled by the Auctioneer. 7. All Auctioned Items may be subject to a reserve, to be predetermined by the Auction House prior to bidding. The reserve is the confidential minimal at which a lot is sold. The Auction House may implement such reserve by bidding on behalf of the Seller and may bid up to the amount of the reserve by placing consecutive bids for a lot or bids in response to other bidders. The Auction House reserves the right to withdraw the Auctioned Item from the Auction, should the reserve not be met. 8. Once the bidding has been closed, no Auctioned Items will be reopened unless the Auction House determines an error. 4. By placing a bid, the Bidder undertakes to buy the Auctioned Items for the Total Price. 5. The Auctioned Item is sold to the Bidder who makes the highest bid (hereinafter referred to as ?Auction Winner?), whereby a contract is concluded. The right for handing the Auctioned Items over to the Auction Winner arises after the Total Price has been paid to the Auction House. The Total Price must be paid within ten (10) days from the moment of the conclusion of the contract. The Auction Winner is to collect the Auctioned Items within twenty (20) days from paying the Total Price, the deadline may be extended by an agreement. A written handover protocol confirming the handover of the Auctioned Items will be created. All costs related to the collecting of the Auctioned Items are carried by the Auction Winner. 6. The Auction House reserves the right to require a deposit by wire transfer if the Bidder wishes to bid on premium lots marked in the auction catalog as premium lots. In case the deposit is submitted, it will be included in the payment of the Total Price and other liabilities of the Auction Winner towards the Auction House. 7. Within 48 hours of the end of the Auction, the Auction House notifies the Auction Winner of an invoice and relevant shipping information. The Bidder shall contact the Auction House for the shipping quote before the Auction starts. On request, the Auction House can arrange packing and shipping at the Auction Winner`s cost. The Auction House ships via FedEx, TNT, DHL and Balíkdozahrani?í.cz. Small items can be shipped via Post Office. Shipping arrangements are made only after the invoice is paid. The payment for shipping is separate charge from the Total Price. As soon as the Auctioned Items are handed over to the Auction Winner or to the shipping company, the Auction House does not accept liability for loss or damage. 8. If, counter to the Auction Rules, the Auction Winner does not pay the Total Price, the Auction House may withdraw from the sale immediately with the effects as of the day of the withdrawal. In such case, the Auction House shall be entitled the payment of a contractual penalty in the amount corresponding to the deposit paid by the Bidder. 9. The conditions stipulated by the Auction Rules apply similarly to post-auction sale. IV. GUARANTEE 1. The Auctioned Items are sold as is and where is. The Bidders are advised to examine and inspect all the Auctioned Items during the preview. The data on the Auctioned Items are merely informative and are only the Auction House`s opinion. The Auction House makes no warranty regarding the size, weight, authenticity, description, period, material, provenance or condition or any other warranty to the Auctioned Items. Appraisals, descriptions, photographs are offered as a service and are not intended to be a complete analysis of the qualities and conditions of the Auctioned Items. If the Bidder is interested the Auction House may provide additional photographs. 2. No statement written or oral made by the Auctioneer or by the Auction House shall be deemed a warranty or assumption of liability by the Auction House or by the Seller. 3. The Auction House reserves the right to remove or withdraw any Auctioned Item from the Auction at its discretion, at any time, for any reason and holds no liability due to the removal of the Auctioned Item. 4. The Auction House does not accept liability for any bids missed due to clerking issues, operator error, equipment failure, connection delays, communication lapses, or technical malfunctions of any nature. V. FINAL PROVISIONS 1. By bidding, the Bidder signifies having examined the Auctioned Items and agrees to comply with the Auction Rules. The Bidder is obligated to get acquainted with the Auction Rules. 2. The legal relationships associated with the Auction, the Auction Rules, the Agreement and all related matters shall be governed by the legal order of the Czech Republic. In case of any dispute the jurisdiction of the competent courts of the Czech Republic shall be stated. 3. All correspondence directed at the Auction House must be established directly with the Auction house through telephone or one of the relevant e-mail addresses. 4. Export and import of some Auctioned Items abroad and to foreign countries may be regulated by legal regulations of the Czech Republic, the European Union, international treaties and legal orders of other importing countries, and it may require obtaining specific formal conditions, among others export permissions and the payment of fees determined and judged by the competent state authorities of given country. Neither the Auction House nor the Seller provide the Auction Winner or any third party with any warranty, guarantee or declaration, nor are they liable in any other way for whether or not the Auctioned Item is or is not subject to export or import restrictions or fees or any other prohibitions, restrictions or legal regulation requirements of the Czech Republic, the European Union, other legal regulations, international treaties or legal orders of other importing countries, which apply to such an export or import. The Auction House is not liable for any damages, lost profit or any other claims that may arise for the Auction House, the Seller, the Auction Winner or a third party in connection with the export or import of the Auctioned Items. 33. SELLING AT AUCTION We invite you to contact us for a complimentary auction