The Tudor Sale: Part II

WADDINGTON MCLEAN & CO. LIMITED BUYERS TERMS IMPORTANT Waddington's charges a buyer's premium of 20% on the hammer price. Buyer's premium and applicable Canadian taxes are added to the hammer price. Taxes are exempt for any items directly shipped from our premises out of Canada. A charge of 13% HST (Harmonized Sales Tax) is applicable on the hammer price and buyer`s premium, except for purchases exported from Canada. In the case where purchases are shipped out of the province of Ontario, the HST or GST is charged based on the tax status of that province. ALL TRANSACTIONS ARE CONDUCTED IN CANADIAN DOLLARS (CDN) Buying at Waddington's Condition: All lots will be offered and sold subject to this Condition of Sale as well as any Glossary and posted announcements. By bidding at auction, bidders are bound by those Conditions and Glossary, as amended by any announcements or posted notices, which together form the contract of sale between the successful bidder (buyer), Waddington`s' (auctioneer), and the consignor (seller) of the lot. Description or photographs of lots are not warranties and each lot is sold 'as is' in accordance with the Conditions of Sale. Condition of Lots: All of the items are to be considered, unless otherwise noted in the description, in good condition. The definition of 'good' when used in reference to condition, describes an object as having had no major damage or repair but as with the nature of the material, may show minor surface wear, discolouration etc., which indicates the acceptable wear that the piece may acquire with age. If you are particular about minor flaws, you should have our staff answer any questions before bidding. Sizes are approximate. Frames on artwork are not included as part of purchase or condition. It is the sole responsibility of the bidder to inquire as to the condition of a lot before bidding. Condition reports are available upon request by phone, fax, email or in person. You are advised to make any requests well in advance of the sale. Shipping: The Auctioneers will not undertake packing or shipping. The purchaser must designate and arrange for the services of an independent shipper and be responsible for all shipping and insurance expenses. The Auctioneers will, upon request, provide names of professional packers and shippers but will not be held responsible for the service or have any liability for providing this information. Reliable pre-auction estimates of shipping costs of lots offered in this sale may be obtained from: PakShip Attn: Taurus Chan 905 470 6874 416 293 8225 905 470 6875 (fax) taurus@pakship.ca Envoy Business Services Attn: Perry Hehn 416 299 3367 416 299 9750 (fax) ph@envoy.ca Restrictions exist regarding the import and export of species protected under CITES (Convention on International Trade in Endangered Species). This includes but is not limited to items made of or containing bone (whalebone etc.), ivory, tortoise shell, seal skin, rhinoceros horn and any other animal part and is strictly controlled or forbidden by most countries. Please review your country's laws before bidding on pieces made of or containing these restricted items. It is the sole responsibility of the buyer to inquire about and obtain the proper permits for artwork purchased that may contain restricted materials, if such permit can be obtained. Please contact the department for further assistance. For more information please visit www.cites.org. CONDITIONS OF SALE FOR ALL AUCTIONS EXCLUDING FINE WINE AND SPIRITS 1. Each lot sold is subject to a premium of 20% of the successful bid price of each lot as part of the purchase price. 2. Unless exempted by law, the buyer is required to pay Ontario Retail Sales Tax and Federal Goods and Services Tax on the total purchase price including the buyer`s premium. 3. The auctioneer reserves the right to withdraw any lot from sale at any time, to divide any lot or to combine any two or more lots at his sole discretion, all without notice. 4. The auctioneer has the right to refuse any bid and to advance the bidding at his absolute discretion. The auctioneer reserves the right not to accept and not to reject any bid. Without limitation, any bid which is not commensurate with the value of the article offered, or which is merely a nominal or fractional advance over the previous bid may not be recognized. 5. Each lot may be subject to an unpublished reserve which may be changed at any time by agreement between the auctioneer and the consignor. The auctioneer may bid, or direct an employee to bid, on behalf of the consignor as agreed between them. In addition, the auctioneer may accept and submit absentee and telephone bids, to be executed by an employee of the auctioneer, pursuant to the instructions of prospective purchasers not in attendance at the sale. 6. The highest bidder accepted by the auctioneer for any lot shall be the buyer and such buyer shall forthwith assume full risk and responsibility for the lot and must comply with such other Conditions of Sale as may be applicable. If any dispute should arise between bidders the auctioneer shall have the absolute discretion to designate the buyer or, at his option, to withdraw any disputed lot from the sale, or to re-offer it at the same or a subsequent sale. The auctioneer`s decision in all cases shall be final. 7. Immediately after the purchase of a lot, the buyer shall pay or undertake to the satisfaction of the auctioneer with respect to payment of the whole or any part of the purchase price requested by the auctioneer, failing which the auctioneer in his sole discretion may cancel the sale, with or without re-offering the item for sale. 8. The buyer shall pay for all lots within 48 hours from the date of the sale, after which a late charge of 2% per month on the total invoice may be incurred or the auctioneer, in his sole discretion, may cancel the sale. The buyer shall not become the owner of the lot until paid for in full. Items must be removed within 10 days from the date of sale , after which storage charges may be incurred. 9. Each lot purchased, unless the sale is cancelled as above, shall be held by the auctioneer at his premises or at a public warehouse at the sole risk of the buyer until fully paid for and taken away. 10. All lots are sold 'AS IS'. Any description issued by the auctioneer of an article to be sold is subject to variation to be posted on line and/or announced via email prior to the time of sale. While the auctioneer has endeavored not to mislead in the description issued, and the utmost care is taken to ensure the correct cataloguing of each item, such descriptions are purely statements of opinion and are not intended to constitute a representation to the prospective purchasers and no warranty of the correctness of such description is made. Some lots are of an age and/or nature which preclude their being in pristine condition and some catalogue descriptions make reference to damage and/or restoration. The lack of such a reference does not imply that a lot is free from defects nor does any reference to certain defects imply the absence of others. It is the responsibility of prospective purchasers to inspect or have inspected each lot upon which they wish to bid and to bid accordingly. 11. Payment for purchases must be by cash, INTERAC direct debit (Cdn clients in person only), certified cheque (U.S. & Overseas not applicable), travelers cheque, bank draft, electronic transfer (fee applies), and VISA or Mastercard (up to $25,000). 12. In the event of failure to pay for or remove articles within the aforementioned time limit, the auctioneer, without limitation of the rights of the consignor and the auctioneer against the buyer, may resell any of the articles affected, and in such case the original buyer shall be responsible to the auctioneer and the consignor for: (a) any deficiency in price between the re-sale amount and the amount to have been paid by the original buyer (b) any reasonable charge by the auctioneer for the storage of such articles until payment and removal by the subsequent buyer and (c) the amount of commission which the auctioneer would have earned had payment been made in full by the original buyer. 13. It is the responsibility of the buyer to make all arrangements for insuring, packing and removing the property purchased and any assistance by the auctioneer or his servants, agents or contractors, in packing or removal shall be rendered as a courtesy and without any liability to them. 14. The auctioneer acts solely as agent for the consignor and makes no representation as to any attribute of, title to, or restriction affecting the articles consigned for sale. Without limitation, the buyer understands that any item bought may be affected by the provisions of the Cultural Property Export Act (Canada). 15. The auctioneer reserves the right to refuse admission to the sale or to refuse to recognize any or all bids from any particular person or persons at any auction. IMPORTANT NOTICE FOR OUR INTERNATIONAL CLIENTS ' CITES Restrictions exist regarding the import and export of species protected under CITES (Convention on International Trade in Endangered Species). This includes but is not limited to items made of or containing bone (whalebone etc.), ivory, tortoise shell, seal skin, rhinoceros horn and any other animal part and is strictly controlled or forbidden by most countries. Please review your country's laws before bidding on pieces made of or containing these restricted items. It is the sole responsibility of the buyer to inquire about and obtain the proper permits for artwork purchased that may contain restricted materials, if such permit can be obtained. Please contact the department for further assistance. For more information please visit www.cites.org CONDITIONS OF SALE FOR FINE WINE AND SPIRITS AUCTIONS 1. Waddington's conducts auctions of fine wine and rare spirits as agent for the Liquor Control Board of Ontario (the 'LCBO') and all such auctions are authorized by the LCBO. All auction sales shall be deemed to take place in Toronto, Ontario, Canada. 2. All purchasers of alcoholic beverages through an auction must be nineteen (19) years of age or older. Proof of age may be required prior to the transfer of any purchased goods, including, but not limited provision of photo identification. 3. All lots are sold 'AS IS'. Any description issued by the auctioneer of an article to be sold is subject to variation to be posted or announced verbally in the auction room prior to the time of sale. While the auctioneer has endeavoured not to mislead in the description issued, and the utmost care is taken to ensure the correct cataloguing of each item, such descriptions are purely statements of opinion and are not intended to constitute a representation to the prospective purchasers and no warranty of the correctness of such description is made. No opportunity of inspection is offered prior to the time of sale. No sale will be set aside on account of lack of correspondence of the article with its description or its reproduction, if any, whether colour or black & white. Some lots are of an age and/or nature which preclude their being in pristine condition and some catalogue descriptions make reference to damage and/or restoration. The lack of such a reference does not imply that a lot is free from defects nor does any reference to certain defects imply the absence of others. 4. Each lot sold is subject to a buyer's premium of 20% of the successful bid price as part of the purchase price. 5. Unless exempted by law, the buyer is required to pay Harmonized Sales Tax on the total purchase price including the buyer's premium. For international buyers, taxes are not applicable when purchases are shipped out of country. Items shipped out of Ontario, the buyer is required to pay taxes as per the tax status of that province, whether it HST or GST (Goods and Services Tax). Purchasers are solely responsible for ensuring that they comply with all laws or regulations in relation to international shipping or the import of alcohol, including, but not limited to the payment of customs charges and duties. 6. The auctioneer reserves the right to withdraw any lot from sale at any time, to divide any lot or to combine any two or more lots at his sole discretion, all without notice. 7. The auctioneer has the right to refuse any bid and to advance the bidding at his absolute discretion. The auctioneer reserves the right not to accept and not to reject any bid. Without limitation, any bid which is not commensurate with the value of the article offered, or which is merely a nominal or fractional advance over the previous bid may not be recognized. 8. Each lot may be subject to an unpublished reserve which may be changed at any time by agreement between the auctioneer and the consignor. As previously agreed to as between the auctioneer and the consignor, the auctioneer may bid, or direct an employee to bid. In addition, the auctioneer may accept and submit absentee and telephone bids, to be executed by an employee of the auctioneer, pursuant to the instructions of prospective purchasers not in attendance at the sale. 9. The highest bidder accepted by the auctioneer for any lot shall be the buyer and such buyer shall forthwith assume full risk and responsibility for the lot and must comply with such other Conditions of Sale as may be applicable. If any dispute should arise between bidders the auctioneer shall have the absolute discretion to designate the buyer or, at his option, to withdraw any disputed lot from the sale, or to re-offer it at the same or a subsequent sale. The auctioneer's decision in all cases shall be final. 10. The auctioneer will notify the successful buyer that they have won the bid. 11. The buyer shall pay for all lots within 48 hours from the date of the sale, after which a late charge of 2% per month on the total invoice may be incurred or the auctioneer, in his sole discretion, may cancel the sale. The buyer shall not become the owner of the lot until paid for in full. Items must be removed within 30 days from the date of sale, after which storage charges will be incurred at a rate of $4.00 per case per month. 12. Each lot purchased, unless the sale is cancelled as above, shall be held by the auctioneer at his premises at the sole risk of the buyer until fully paid for and taken away. 13. Notwithstanding Section 3, if the buyer, prior to removal of a lot, makes arrangements satisfactory to the auctioneer for the inspection of such lot by a fully qualified person acceptable to the auctioneer to determine the genuineness or authenticity of the lot, to be carried out promptly following the sale of the lot, and if, but only if, within a period of 14 days following the sale a written opinion of such person is presented to the auctioneer to the effect that the lot is not genuine or authentic, accompanied by a written request by the buyer for rescission of the sale, then the sale of the lot will be rescinded and the sale price refunded to the buyer. 14. Payment for purchases must be by INTERAC direct debit (applicable to Canadian in-person clients only), certified cheque (not applicable to U.S. and international sales), travelers cheque, bank draft, electronic transfer (fee applies), and VISA or Mastercard (up to $25,000). 15. In the event of failure to pay for or remove articles within the time limit set out in Section 11, the auctioneer, without limitation of the rights of the consignor and the auctioneer against the buyer, may resell any of the articles affected, and in such case the original buyer shall be responsible to the auctioneer and the consignor for: (a) any deficiency in price between the re-sale amount and the amount to have been paid by the original buyer (b) charges in relation to the storage of such articles in accordance with Section 11 until payment and removal by the subsequent buyer and (c) the amount of commission which the auctioneer would have earned had payment been made in full by the original buyer. 16. It is the responsibility of the buyer to make all arrangements for insuring, packing and removing the Consigned Goods purchased and any assistance by the auctioneer or his servants, agents or contractors, in packing or removal shall be rendered as a courtesy and without any liability to them. 17. The auctioneer acts solely as agent for the consignor and makes no representation as to any attribute of, title to, or restriction affecting the articles consigned for sale. 18. The auctioneer reserves the right to refuse admission to the sale or to refuse to recognize any or all bids from any particular person or persons at any auction. 19. If you are a licensee licensed to sell liquor under the Liquor License Act and you purchase alcoholic beverages in an auction to resell pursuant to your license, you must provide Waddington's with a copy of your license. 20. With respect to our collection of your personal information, you acknowledge the following: (a) The personal information required is collected on behalf of the LCBO under the authority of Sections 3(1)(b),(n) and (o) and 3(2)(f) of the Liquor Control Act, for the purposes of controlling the purchase and sale of liquor by auction in Ontario. (b) The collection of your personal information will be collected in compliance with the Freedom of Information and Protection of Privacy Act (c) We may disclose information relating to the auction, including but not limited to your personal information, to the LCBO. Any questions in relation to the collection of your personal information pursuant to the Freedom of Information and Protection of Privacy Act should be forwarded to us and we will forward the question on your behalf to the Manager of Freedom of Information and Privacy at the LCBO.