May Fine Chinese Art & Antiques Auction, Day1

HIGHLIGHT OF TERMS AND CONDITIONS OF SALE Quick points to keep in mind. Detailed terms are below: I. By bidding you are entering into a legal contract, please take this seriously. II. Please ask questions about items before you bid, all items are sold as is/ where is. III. Our terms are very clearly listed and are non-negotiable, please take the time to read them as they are legally binding. IV. There are absolutely no returns on any items for any reason** V. For items purchased via in person, phone or absentee bidding, your credit card will be charged the day after the auction. If other payment arrangements have been made and good funds have not been received by the 7th business day after the auction, your credit card will be charged. If you are unable to do this, please do not bid with us. Invoices not paid within seven (7) days will be treated as "non-paying bidders" and immediately reported to Liveauctioneer or Invaluable and legal action will be taken. No exceptions. VI. Due to the increasing numbers of nonpaying customers, starting from December 2012 Auction, all bidders are required to submit a credit card and government issued identification for the registration and bidding approval purposes, and the credit card will be charged for the invoice amount the day after the auction for all winning bidders. VII. If a deposit has been requested, the deposit will be used as payment towards the invoice for winning bids. If the bids are not successful, only then will the deposit be refunded. FOOXWOOD AUCTIONEER INC AS AGENT The lots listed in this catalog will be offered by Foxwood Auctioneer Inc as owner or as agent for consignor(s) subject to the following terms and conditions. By bidding at auction you agree to be bound by these Conditions of Sale. BEFORE THE SALE Prospective buyers are strongly advised to personally examine any property in which they are interested before the auction takes place. Condition reports are usually available on request, on lots with a low estimate of $300 and above. All lots are sold ?AS IS" and without recourse and neither Foxwood Auctioneer Inc.. nor its consignor(s) makes any warranties or representations, express or implied with respect to such lots. Neither Foxwood Auctioneer Inc.. nor its consignor(s) makes any express or implied warranty or representation of any kind or nature with respect to merchantability, fitness for purpose, correctness of the catalog or other description of the physical condition, size, quality, rarity, importance, medium, material, genuineness, attribution, provenance, period, culture, source, origin, exhibitions, literature or historical significance of any lot sold. The absence of any reference to the condition of a lot does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections or the effects of aging. No statement, whether written or oral, and whether made in the catalog, or in supplements to the catalog, an advertisement, a bill of sale, a salesroom posting or announcement, the remarks of an auctioneer, or otherwise, shall be deemed to create any warranty, representation or assumption of liability. Foxwood Auctioneer Inc.. and its consignor(s) make no warranty or representation, express or implied that the purchaser will acquire any copyright or reproduction rights to any lot sold. Foxwood Auctioneer Inc. expressly reserves the right to reproduce any image of the lots sold in the catalogue. AT THE SALE Refusal of Admission Foxwood Auctioneer Inc. has the right, at our complete discretion, to refuse admission to the premises or participation in any auction and to reject any bid. If the auctioneer determines that any opening or later bid or any advance bid is not commensurate with the value of the Property offered, he may reject the same and withdraw the Property from sale. In the unlikely event that we lose our internet connection, Foxwood Auctioneer Inc. reserves the right in its sole and absolute discretion to cancel the remainder of the auction. Registration before Bidding A prospective buyer must complete and sign a registration form and provide government issued identification and a credit card before bidding. We may require bank or other financial references. Bidding as Principal When making a bid, a bidder is accepting personal liability to pay the purchase price, including the buyer's premium, all applicable taxes and all other applicable charges, unless it has been explicitly agreed upon in writing with Foxwood Auctioneer Inc.. before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to Foxwood Auctioneer Inc. and that Foxwood Auctioneer Inc. will only look to the principal for payment. Absentee Bids We will use reasonable efforts to carry out written bids given to us at least 24 hours prior to the sale for the convenience of clients who are not present at the auction in person, by an agent or by telephone. Bids must be placed in U.S. dollars. If we receive written bids on a particular lot for identical amounts, and these are the highest bids on the lot at the auction, it will be sold to the person whose written bid was received and accepted first. Execution of written bids is a free service undertaken subject to other commitments at the time of the sale and we do not accept liability for failing to execute a written bid or for errors and omissions in connection with the written bid. Online Bids We will use reasonable efforts to carry out online bids and do not accept liability for equipment failure, inability to access the Internet or software malfunctions related to the execution of online bids. Reserves some lots in the sale are subject to a reserve which is the confidential minimum price below which such lot will not be sold. The reserve will not exceed the low estimate of the lot. Reserves are agreed upon with consignors or, in the absence thereof, the absolute discretion of Foxwood Auctioneer Inc.. The auctioneer may open the bidding on any lot below the reserve by placing a bid on behalf of the seller. The auctioneer may continue to bid on behalf of the seller up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to other bidders. With respect to lots that are offered without reserve, unless there are already competing bids, the auctioneer, in his or her discretion, will generally open the bidding at half of the low estimate for the lot. In the absence of a bid at that level, the auctioneer may proceed backwards at his or her discretion until a bid is recognized, and then continue up from that amount. Auctioneer's Discretion The auctioneer has the right at his or her absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as he or she may decide, to withdraw any lot, and in the case of error or dispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to re-offer and resell the item in dispute. If any dispute arises after the sale, our sale record is conclusive. Successful Bid The highest bidder acknowledged by the auctioneer will be the purchaser. In the case of a tie bid, the winning bidder will determined by the auctioneer at his or her sole discretion. In the event of a dispute between bidders, the auctioneer has final discretion to determine the successful bidder or to re-offer the lot in dispute. If any dispute arises after the sale, the Foxwood Auctioneer Inc. sale record shall be conclusive. Title passes upon the fall of the auctioneer's hammer to the highest acknowledged bidder subject to the Conditions of Sale set forth herein, and the bidder assumes full risk and responsibility. AFTER THE SALE Buyer's Premium In addition to the hammer price, the buyer agrees to pay Foxwood Auctioneer Inc. a buyer's premium and the applicable sales tax added to the final total. A buyer's premium will be added to the successful bid price and is payable by the purchaser as part of the total purchase price. The buyer's premium is 18% of the successful bid price up to and including $20,000, 16 % between $20,001 and $500,000, and 14% on any amount in excess of $500,000. And there will be additional 5% buyer premium for internet live bid winner for LiveAuctioneers and Invaluable.