IMPORTANT FINE ARTS AUCTION

The following are Walker's standard Terms & Sales conditions which apply to all buyers and agents intending to purchase at any sales. 1. The term "Auctioneer", wherever used in this catalogue, means Walker's Fine Art & Estate Auctioneers Inc. 2. Prospective bidders should inspect the property before bidding to determine its size, condition and whether or not it has been repaired, restored or altered. It is advised that all lots be viewed personally. Imperfections are not necessarily stated in any version of the auction catalogue, however, specific condition reports are provided upon request. (All statements are solely the opinion of the Auctioneer who is neither a professional restorer nor conservator) 3. The Auctioneer has made a reasonable attempt to ensure accuracy in the description of every lot to be sold. However, guarantee is not made as to the correctness of the catalogue entries and no sale shall be set aside on account of any imperfections not noted. Each lot is sold on an "AS IS," "WHERE IS" basis. 4. All bids are per lot as listed in the catalogue. However, the auctioneer reserves the right to divide or join lots, without prior warning, as they may see fit upon announcement of same. 5. The auctioneer reserves the right to withdraw or add to the items as listed in prepared catalogues without notice. 6. The auctioneer has the right to advance the bidding at their absolute discretion. The highest bidder is to be deemed the buyer. If a dispute arises, the auctioneer may, at their discretion, resell the lot or announce a decision immediately. The auctioneer may refuse to accept a bid from any individual or party at their absolute discretion. The auctioneer has the right to restrict attendance or participation in the auction rooms or during preview or to any party without explanation. 7. Title to the offered lot immediately passes to the highest bidder upon full payment by the purchaser to the auctioneer however the purchaser assumes full risk and responsibility from the fall of the auction hammer. 8. All lots are sold by the vendor with all faults and defects, with all errors of description and are to be paid for whether genuine and authentic or not. No compensation shall be paid for same. 9. Notwithstanding the previous conditions of sale, if within (14) fourteen days after the auction the purchaser gives notice in writing to the auctioneer that the lot sold is a deliberate forgery and within (7) seven days of such notification the buyer returns the same to the auctioneer in the same condition as at the time of sale and satisfies the auctioneer that the claim is justified, pursuant to any special requests the auctioneer may make, then the sale of the lot will be rescinded and the purchase price, buyer's premium & sales tax on the purchase price of the same will be refunded. All action and decisions made by the auctioneer are final and will not be influenced by the opinion of either the seller or purchaser. (All packing, handling, customs fees, taxes, insurance, valuations, opinions, lodging or travel directly or indirectly related to any returned & refunded lots will be the sole responsibility of the purchaser and no compensation will be paid for same). Any judicial proceedings deemed necessary to resolve a dispute or claim will be settled in the Province of Ontario. 10. The auctioneer shall have the right to bid or commission their staff to bid on behalf of any consignor up to the reserve price if applicable, but not above. 11. Each lot is sold subject to a 17% live auction buyer's premium (live attendance, telephone or absentee bid placed directly with the auctioneer) or 20% internet buyer's premium, payable by all buyers on top of the purchase price. 12. The purchaser must pay Ontario Harmonized Sales Tax (HST - 7%) on the total purchase price (aggregate of hammer price & buyer's premium) in addition to Federal Goods & Services Tax (GST - 5%) on all purchases. Buyers not resident in Ontario are exempt from paying HST on the purchase price of property IF the lot(s) is shipped by approved carrier directly from the auctioneer to the purchasers address outside of Ontario but within Canada. In this case only GST is charged on the lot(s). The buyer is exempt from paying HST & GST on the purchase price if the lot(s) is shipped by approved carrier from the auctioneer directly to the buyers address outside of Canada. 13. Payment is to be made by pre-approved cheque, Visa, MasterCard, Interac or wire transfer. Property is released only after funds have cleared our bank. Local purchases must be removed immediately after the sale provided payment has been received by the Auctioneer. Items sold to foreign and non-local buyers will be transported to our offices where they must be removed within three (3) working days. Buyers not known to the Auctioneer are required to provide financial and banking details at least three (3) days prior to the auction. The auctioneer will send an invoice by email or fax after the auction but your credit card may be used immediately to settle your purchase account. A maximum of $20,000 per client per auction may be paid using a credit card if presenting the card in person with photo identification; $5,000 is the maximum for fax authorized credit card payment within North America. (All purchasers using a credit card to settle an account must complete & sign a specific "Credit Card Use" form and return it to Walker's by fax on +613.224.6329) 14. If the buyer's account is not settled in full with regard to fore-mentioned conditions, then a finance charge of 5% per month above the Bank of Canada base rate will be applied to the purchase price until settled in addition to a 2% monthly charge for storage and insurance. If in the opinion of the Auctioneer the lot or lots must be resold then any deficiencies or handling charges against same will be charged to the original purchaser. 15. In order to export certain property from Canada, a Cultural Property Export Permit may be required. Various objects and values are affected and it is incumbent on a prospective purchaser to fully understand any restrictions prior to sale. No sale shall be rescinded if a Cultural Property Export Permit cannot be obtained, regardless of the reason. 16. Under the CITES (the Convention on International Trade in Endangered Species of Wild Fauna and Flora) agreement, items offered for sale which contain restricted materials such as ivory, tortoiseshell, whalebone, eagle feathers, etc. are not allowed by law to leave Canada. It is the buyer's responsibility to verify whether this restriction applies to their purchases prior to bidding. No sale shall be rescinded if the buyer is remiss in this regard. The prospective purchaser's attention is directed specifically, but not exclusively, to objects contained within the "Inuit Arts" & "Decorative Arts" chapters. It is strongly suggested that they contact the auctioneer in writing prior to sale for a statement of opinion regarding whether restricted materials are contained in any given lot. 17. Pre-sale auction estimates are educated approximations based upon the sale of similar items. These are not necessarily selling prices, as the final bid may be above or below any estimate. 18. Persons attending a preview, the auction or collecting goods, assume all risks of damage of or loss to person and property and specifically release the Auctioneer from liability. Neither the Auctioneer nor his principle shall be liable by reason of any defect in or condition of the premises on which the sale is held. 19. Registration: All bidders are required to provide full name, address, phone number(s) and postal code in addition to government issued photo identification. The registrant is fully and solely responsible for all bids placed using their bidding number. Registered buyers are not permitted to bid for third parties or to transfer purchased lots from one account to another. The Auctioneer reserves the right to determine credit worthiness prior to registering a buyer and may require banking or credit information and/or credit card information when doing so. 20. All packing and handling of purchased lots by the auctioneer or an associated company is undertaken as a service to the purchaser. There will be fees for this service and the auctioneer or handler will proceed only at the purchasers risk and expense. Please inquire directly with the auctioneer for a packing/sipping/insurance quote prior to sale. Customs, Duty and brokerage fees as assessed by Government or third party firms are separate from any shipping quote the auctioneer or associate may provide and are the sole responsibility of the purchaser. Lots damaged in transit as a result of Customs or Government inspection or improper repacking are not covered by any insurance offered by the auctioneer or shipper regardless if insurance has been paid for or not. 21. All bidders and others attending this sale agree that they have read and have full knowledge of these Conditions of Business and agree to be bound by same.

Please register for telephone, internet and absentee bidding well in advance of live auction. Lots will be auctioned in sequential order.

The purchaser must pay Ontario Harmonized Sales Tax (HST - 7%) on the total purchase price (aggregate of hammer price buyer's premium) in addition to Federal Goods Services Tax (GST - 5%) on all purchases. Buyers not resident in Ontario are exempt from paying HST on the purchase price of property IF the lot(s) is shipped by approved carrier directly from the auctioneer to the purchasers address outside of Ontario but within Canada. In this case only GST is charged on the lot(s). The buyer is exempt from paying HST GST on the purchase price if the lot(s) is shipped by approved carrier from the auctioneer directly to the buyers address outside of Canada.