A Magificent Asian Arts Auction

TERMS & CONDITIONS These conditions of sale for auction constitute Real Auction Co. and the Consignor's entire agreement with the purchaser relative to the property to be sold at the auction. The following conditions of sale are the complete and only terms and conditions on which all property is offered for sale. Anyone wants to participate in the auction must read these important notices and explanations carefully before bidding. 1. AGENT IDENTITY Except as otherwise stated Real Auction Co. acts as agent for the seller. The contract for the sale of the property is therefore made between the seller and the buyer. 2. BEFORE THE SALE (a) Buyer?s responsibility Buyers are responsible for satisfying themselves concerning the condition of the property and the matters referred to in the catalogue entry. Bidders bid at all times represents an irrevocable offer by bidder to enter into a binding contract to purchase the property in accordance with the specific provisions of the listing and these general terms and conditions as applicable, even if a higher bid was received by the Company. (b) Condition The nature of the lots sold in our auctions is such that they will rarely be in perfect condition, and are likely, due to their nature and age, to show signs of wear and tear, damage, other imperfections, restoration or repair. Any reference to condition in a catalogue entry will not amount to a full description of condition. Any condition statement is given as a courtesy to a client, is only an opinion and should not be treated as a statement of fact. The absence of a condition statement does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections or the effect of aging. We and the Consignor make no representation or warranty as to whether the purchaser acquires any reproduction rights in the property. We reserve the right to withdraw any property before sale. (c) Catalogue Descriptions All statements by us in the catalogue entry for the property or in the condition report, or made orally or in writing elsewhere, are statements of opinion and are not to be relied on as statements of fact. Such statements do not constitute a representation, warranty or assumption of liability by us of any kind. References in the catalogue entry or the condition report to damage or restoration are for guidance only and should be evaluated by personal inspection by the bidder or a knowledgeable representative. The absence of such a reference does not imply that an item is free from defects imply the absence of any others. Estimates of the selling price should not be relied on as a statement that this is the price at which the item will sell ot its value for any other purpose. (d) Estimates Estimates of the selling price should not be relied on as a statement that this is the price at which the item will sell or its value for any other purpose. All sizes are approximate. If the sale is undeliverable prior to departure due to theft, damage or other damage, the sale shall be deemed to be canceled and shall not be liable. (e) Fitness for Purpose Lots sold are enormously varied in terms of age, category and condition, and may be purchased for a variety of purposes. Unless otherwise specifically agreed, no promise is made that a lot is fit for any particular purpose. 3. AT THE SALE (a) Refusal of admission We have the right to refuse admission to the premises or participation in any auction and to reject any bid. (b) Bidding as principal When making a bid, a bidder is accepting personal liability to pay the purchase price, including the buyer?s premium and all applicable taxes, plus all other applicable charges. (c) Reserve prices In the event that any reserve price of the property is not exceeded by any bidder?s bid, the Company in its sole discretion with or without the knowledge of or notice to any bidder, may reduce any reserve price to an amount below the bid of bidder at any time during an auction and accept the bid made by a bidder. Reserve prices are always the confidential information of the Company and are not disclosed to bidders unless specifically stated as such during bidding. Nothing contained in any listing shall be construed to disclose any reserve price. In the placing of any bid the bidder understands and agrees that the bid once accepted by the Company will be the winning bid if there is no higher bid by another bidder and if any reserve or reduced reserve is exceeded by the bid. All bids are binding, irrevocable and non-cancellable by the bidder. The Company has final discretion on sale of the property. The decision of the Company is final. (d) Technical issue In the unlikely event that we lose our internet connection or items have inappropriate data due to technical errors in the system such as images mismatched or not available, items with incorrect information, price or certificate, the Company reserves the right in its sole and absolute discretion to cancel the remainder of the auction and/or rescind all winning bids. (e) Rejection and Cancellation For all sales across any platform, the Company has full and complete discretion to cancel a sale for any issue whatsoever. For all products, we conduct a thorough final quality check right before shipping products to the buyer. If in the course of the final quality check, the product does not meet our quality standards, we will cancel the sale and issue the buyer a refund. The Company reserves the right to reject any bid at any time, and at its sole discretion. The Company additionally reserves the right it its sole and unlimited discretion at any time prior to, during or even after the close of the auction to exclude any person or individual bid and to award any lot to the highest accepted bid. The Company reserves the right to withdraw any lot at any time before, during or after the auction without liability. The highest bidder acknowledged by the online bidding system will be the purchaser. In the event of any dispute between bidders, or in the event of doubt on our part as to the validity of any bid, the auctioneer will have the final discretion either to determine the successful bidder or to re-offer and resell the article in dispute. If any dispute arises after the sale, our sales record is conclusive. (f) Notice to prospective bidders The Company, and consignors, reserve the right to bid on any lots. Unless specifically stated otherwise, all lots are subject to reserve price that shall be hidden from bidders. The Company shall act to protect the reserve by bidding in the auction process if need. The Company may open bidding on any lot below the reserve by placing its own bid. The Company may continue to bid on behalf of itself up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to other bidders. (g) Telephone bids Prospective buyer should fill out the telephone bidder form and make arrangements with us prior to the commencement of the sale, and we will use reasonable efforts to them to participate in the bidding by telephone but we do not accept liability for failure to do so or for errors and omissions in connection with telephone bidding arising from circumstances beyond our reasonable control. 4. AFTER THE SALE (a) Buyer?s premium In addition to the hammer price, the buyer agrees to pay to us the buyer?s premium together with any applicable value added tax. The buyer?s premium is 25% of the final bid price of each lot up to and including $800,000, 20% of the excess of the hammer price above $800,000 and up to and including $15,000,000, and 12% of the excess of the hammer price above $15,000,000. (b) Payment and ownership The buyer must pay the full amount due (comprising the hammer price, buyer?s premium and any applicable taxes or resale royalty) immediately after the sale. The buyer will not acquire title to the lot until all amounts due to us from the buyer have been received by us in good cleared funds even in circumstances where we have released the lot to the buyer. For items purchased online, you will be emailed an invoice within 24 hours after the auction. The buyer should pay all the fees within 10 days after the transaction. The Company accepts paypal and Bank Wire Transfer Payment. Invoices over $2000 require a wire transfer as do the sale of the jewelry and the well-made high-of-the-high items in our discretion. It is your responsibility to contact the Company at 626-380-7328 or email?fiona755@outlook.com, if you are unable to pay through online check system. (c) Collections of purchases We shall be entitled to retain items sold until all amounts due to us have been received in full in good cleared funds or until the buyer has performed any other outstanding obligation as we, in our sole discretion, shall require, including, for the avoidance of doubt, completing any anti-money laundering or anti-terrorism financing checks we may require to our satisfaction. We have the right to cancel the sale and to take any other actions that are required or permitted under applicable law. (d) Packing, handling and shipping All shipping and handling will be done by the company and third party licensed shippers. Charges will be included in your invoice. Additional charges may apply to oversize lots. The company will arrange shipping as soon as the payment is confirmed. Usually the packages would be sent out within 6 to 12 business days (mostly we ship before this time). Followed by their payment and upon bank clearance which may depends on the item and its value, the delivery may be delayed. Although we shall use reasonable efforts to take care when handling, packing and shipping a purchased lot and in selecting third parties, we are not responsible for the acts or omissions of any such third parties. Please let us know if you need any shipping instructions or specific date of delivery. For more information, please feel free to call us 24x7 at 626-380-7328 or email us with fiona755@outlook.com (e) Remedies for non payment If buyer fails to make payment in full in good cleared funds within 10 days after the sale, we shall have the right to exercise a number of legal rights and remedies. In addition to other remedies available to us by law, we reserve the right to impose a late charge of 1.5% per month of the total Purchase Price if the payment is not made in accordance with the conditions set forth herein.