Session 3: Imperial Chinese Artworks

1. Buyers? Premium Buyers to pay a premium at 28% on the hammer price of each lot purchased. 2. Import taxes Any lots are subject to the payment of import taxes, which shall be paid by the buyers. It is buyers? responsibility to ensure that any items etc. can legally be imported into their countries. 3. Description and condition of lot: 1) All catalogue descriptions, verbal descriptions, and advertisements for sales concerning attribution, genuineness, authorship origin date, age, quality and estimated price are statements of opinion only and not to be taken as statements or representation of fact nor basis of warrant or guarantee. Many lots will be of an age that precludes them being in perfect condition and purchasers should satisfy themselves as to the condition of any lot before the commence of the auction. 2) Treasure Art Sociedad Ltda acts in all respects, only as agent for the seller of each lot. Treasure Art Sociedad Ltda?s job is to sell the lot at the highest price obtainable at the Sale to a Bidder. Treasure Art Sociedad Ltda?s do not act for Buyers or Bidders in this role and does not give advice to Buyers or Bidders. 3) Members of Treasure Art Sociedad Ltda?s staff are not trained restorers or conservators and for higher value lots, you should obtain and opinion from professional personnel. Treasure Art Sociedad Ltda undertakes no obligation to examine, investigate or carry out any tests, either in sufficient depth or at all, on each Lot to establish the accuracy or otherwise of any descriptions or opinions given by Treasure Art Sociedad Ltda, or by any person on Treasure Art Sociedad Ltda?s behalf, whether in the catalogue or elsewhere. 4) If buyers are intending to buy from any lots, it is buyers? responsibilities to satisfy themselves the items that they are buying meet their acceptable standard. Descriptions provided in the catalogue do not imply the item is in a good condition or without fault. Buyers should ensure the item is to their satisfaction. 4. Bidding: 1) Bidders are required to register online before auction. Once you have successfully registered for Online Bidding in a Sale, you will be eligible to bid online at that Sale. 2) The maker of the highest bid accepted by the auctioneer conducting the sale shall be the buyer at the hammer price and any dispute about a bid shall be settled at the auctioneer?s absolute discretion by reoffering the Lot during the course of the auction or otherwise. The auctioneer shall act reasonably in exercising this discretion. 3) Bidders shall be deemed to act as principals. 4) Once bid, no bid maybe withdrawn. Our right to bid on behalf of the seller is expressly reserved up to the amount of any reserve and the right to refuse any bid is also reserved. 5) Please note that Treasure Art Sociedad Ltda reserves the right to reject a registration to bid online, withdraw its permission for you to use Online Bidding, or terminate an Online Bidding account, for any reason at any time prior to, during or after a Sale. 5. Removals of lots: In the event of a buyer failing to pay a lot, Treasure Art Sociedad Ltda are at their absolute discretion and without prejudice, to any other rights or remedies there may be, be entitled to exercise one or more of the following: 1) Issue proceedings against the buyer for breach of contract together with the costs of any proceedings on a full indemnity basis. 2) To resell the lot or cause it to be resold by public auction or private treaty. The original Buyer shall pay any deficiency in the purchase price resulting from any such resale, together with costs incurred. 3) To charge interest at a rate of 3% per month on the purchase price after 7 days from the date of sales. 4) To retain that or any other lot sold to you until you pay the total amount due. 6. Transfer of property Property of the goods shall pass to the buyers only once Treasure Art Sociedad Ltda has received full payment for the goods, this includes the price at the fall of the hammer as well as buyers? premium, and costs in relation to packaging and shipping. 7. Loss and Damage of goods Treasure Art Sociedad Ltda is not liable for ANY damage of the items. If the items in/out of transit, it is buyers? responsibility to resolve the issue with the logistic company. 8. Cancellation of the sale At the fall of the hammer, the contract is formed between the buyers and Treasure Art Sociedad Ltda and is binding thereafter. Under no circumstances can the buyers cancel the sale. Treasure Art Sociedad Ltda may at its entire discretion, during or after the auction, cancel the sale of the Lot or reoffer and resell the Lot if it becomes aware of any error or dispute of any nature, whether or not title has passed to the buyers, and up to a period of 6 months after the said sale. Grounds for cancellation under the present section shall include but not be limited to any dispute relating to the attribution or provenance of the Lot, ownership and title, fraud or deceit, lack of relevant licences or certificates, any subsequent changes in domestic or international legislations restricting the sale of export of goods etc. 9. Governing Law, etc. These conditions shall be governed by and construed in accordance with the laws of European Union. These terms and conditions may be varied from time to time at the sole and absolute discretion of Treasure Art Sociedad Ltda.