ASIAN ART WEEK SALE 2

METRO GALLERY & AUCTION INC TERMS OF SALE All properties offered and sold though Metro Gallery & Auction Inc, LLC as owner or as agent for consignor are subject to the following Terms of Sale. Where Metro Gallery & Auction Inc is agent, the contract is between seller and buyer. All bidders are responsible for reading and understanding these Terms of Sale before bidding. By bidding at auction, whether in person or by agent, by absentee bid, by telephone bid or other means, the buyer agree to be bound by these terms and conditions. AS IS All properties are sold "AS IS" and ALL SALES ARE FINAL. There are NO RETURNS and EXCEPTIONS. It is the buyer's responsibility to determine conditions, size, color, age, value or any other factor. All measurements and weight are approximate. All properties are sold AS IS and without recourse. Metro Gallery & Auction Inc may attempt to describe the property on the internet and at the auction for reference only, but makes no warranty, representation or assumption of liability. Neither Metro Gallery & Auction Inc nor the seller is responsible in any way for errors or omissions in the catalog or any supplemental material. Buyers shall be the sole judge of value. Especially in online auction, errors may occur in its operation and in the quality of the image, and Metro Gallery & Auction Inc does not accept liability for such errors. CATALOG DESCRIPTIONS AND CONDITION OF PROPERTY The knowledge of each property is partially on information provided to us by the seller and Metro Gallery & Auction Inc is not able to and does not carry out exhaustive due diligence on each property. The buyers acknowledge this fact and accept responsibility for carrying out inspection and investigation to satisfy themselves as to the properties in which they may be interested. AUCTIONEER'S DETERMINATION A property will sell to the highest bidder as determined in the exclusive judgment of the auctioneer. The auctioneer will have the sole and exclusive power and authority to the followings: a.The auctioneer has the right to determine the bidding increments and has the right to reject a bid. b.The auctioneer has the right to resolve any disputes between bidders. If any dispute arises after the sale, the Metro Gallery & Auction Inc sale record shall be conclusive. c.The auctioneer has the right to exclude any bidder from the premises. d.If a price does not reach reserve (the confidential minimum price), the auctioneer has the right to pass over the property. RESERVES Unless otherwise indicated, all properties that are offered subject to a reserve, which is the confidential minimum price below which such property will not be sold. No reserve will exceed the low estimate of the property. Reserves are agreed, upon with the consignor or in the absolute discretion of Metro Gallery & Auction Inc. The auctioneer may implement the reserve by opening bidding on any property by planning a bid on behalf on the seller. The auctioneer will not specifically identify bids placed on behalf of the seller. The auctioneer may further bid on behalf of the seller, up to the amount of the reserve. Unless otherwise noted in the catalog or by an announcement at the auction, Metro Gallery & Auction Inc acts as agent on behalf of the seller and does not permit the seller to bid on his or her own property. CONDITION REPORTS It is the responsibility of the prospective buyer to inquire as to the condition of a specific property PRIOR to bidding. All completed condition reports are posted with the property as an additional image; condition report will NOT be included in the description of the lot. BUY'S RESPONSIBILITY The highest bidder acknowledged by the auctioneer should be the buyer. The property title passes upon the fall of the auctioneer's hammer to the highest acknowledged bidder; such bidder thereupon assumes full risk and responsibility; including all costs and expenses of handling, shipping, insurance, taxes, export, and otherwise, and is liable for the full purchase price, plus the buyer's premium, applicable taxes, and any other associated expenses. Metro Gallery & Auction Inc shall not be responsible for insuring buyer's property after purchase. Although in our service we will execute orders or absentee bids or accept telephone bids to clients, we are not responsible for any errors or omissions in connection therewith. The total purchase price to be paid by buyer is the amount of the successful bid price plus 25% buyer's premium. All successful bidders will be sent invoice by mail or email. All successful bids must be claimed; payment must be paid in full within seven (7) days after the auction. All payments shall me made in US dollars. Successful bidder can only collect the purchased property after full payment. METHODS OF PAYMENT Metro Gallery & Auction Inc accepts payment by bank check, personal check, traveler's check, cash and bank wire. All invoices will be sent by mail or email after the auction. Payments for all purchased items are due immediately upon receipt of invoice. Metro Gallery & Auction Inc will reserve the right to hold all goods paid for by check until payment has cleared. The purchaser agrees to pay Metro Gallery & Auction Inc a handling charge of $25 for any check dishonored. If payment is not received within seven (7) days of invoice, Metro Gallery & Auction Inc reserves the right to impose from the date of sale a late charge of 2% a month of the total purchase price and hold the defaulting buyer liable for the amount due plus interest and losses due to purchaser's default. BIDDER QUALIFICATION As a security measure for our consignors and Metro Gallery & Auction Inc, all buyers must establish credit. Buyers will be asked to submit identification and a valid credit card number, credit reference, certificate bank check, and/or (for live bidding, absentee biding and phone bidding) an initial deposit in the form of a pre-authorization hold equal to 10% of the low estimate of the total number of properties on which you are bidding. If you are acting as buyer's agent or principal, we may request a letter of authorization. If you are successful bidder and do not remit payment as specified, the amount owed will be charged to your credit card together with such charges set forth in these Terms of sale.