Important Asian Art Auction

AUCTIONEERS TERMS 1. Bidding Procedures a. Bidders are required to register their name and address, provide proof of identity and satisfy and security arrangements before entering the auction room to view or bid. b. Subject to any reserve price and the Vendors right to bid, the highest bidder shall be the purchaser and in the event of any dispute the lot may be re-offered and the Auctioneers decision shall be final. c. The bidder shall be deemed to be the Principal unless prior to the sale they have disclosed to the company that they will be bidding on behalf of a Principal whose name and address shall be disclosed to the Auctioneer. d. Once made no bid may be withdrawn 2. Online Bidding Aalders Auctions offer an online bidding service via liveauctioneers.com for bidders who cannot attend the sale. In completing the bidder registration on www.liveauctioneers.com and if requested providing your credit card details and unless alternative arrangements are agreed with Aalders Auctions: * authorise Aalders Auctions, if they so wish, to charge the credit card given in part or full payment, including all fees, for items successfully purchased in the auction via liveauctioneers.com, and * confirm that you are authorised to provide these credit card details to Aalders Auctions through www.liveauctioneers.com and agree that Aalders Auctions are entitled to ship the goods to the card holder name and card holder address provided in fulfilment of the sale. 3. Increments Advances in the bidding shall be regulated by the Auctioneer and shall be at the sole discretion of the Auctioneer. 4. Purchase Price a. The buyer shall pay the hammer price together with a buyer premium of 20.5% + GST (10%) per lot (GST not applicable for buyers overseas). b. All prices are in $AUD 5. Goods & Services Tax (GST) Goods & Services Tax on the hammer price is imposed by law on all items and is payable on the buyers premium. 6. Payment, Title & Collection a. On the fall of the hammer each lot shall be at the purchasers risk and expense. b. No purchases may be removed until after the conclusion of the Auction c. All purchases must be paid for and collected within five (5) working days after the completion of the sale (unless by prior arrangement). d. Payments accepted include Cash, Eftpos, Visa, MasterCard (1% surcharge applies to the total invoice for Visa & Mastercard), and Telegraphic/Wire Transfer. Cheque is available only to buyers known to Aalders Auctions. If paying by credit card items will be held for a period of 21 days before shipping. e. If not paid for and collected within the specified time frame the purchaser will be liable for a $5 per day per lot storage charge. f. Ownership of any Lots purchased shall not pass until the purchaser has made payment in full. 7. Shipping Buyers need to be aware of rules and regulations in regards to exporting from Australia and importing into their chosen country, especially in relation to animal products (eg ivory, horn,tortiseshell etc) and weapons. Please be aware of the cost involved in shipping large & bulky items, and shipping items internationally. Please seek shipping quotes prior to bidding. All shipping and related costs are the responsibility of the buyer. Aalders Auctions may be able to assist with in house shipping, please check prior to bidding. If inhouse shipping is requested Aalders Auctions takes no responsibility for any breakages. Please note Aalders Auctions will not ship items containing animal products. For a shipping quote please contact: PACK & SEND Mascot, Phone: + 61 2 9317 3616 Fax: +61 2 9317 5508 mascot@packsend.com.au or Grace Fine Art Email: finearts@grace.com.au Phone: Australia wide 1300 766 233 International +61 2 9838 5666. Grace Fine Art are able to assist with the application for CITES Certificates. 8. Failure to Pay or Collect Purchases a. If any Lot is not paid for in full and taken away in accordance with these terms and conditions or if there is any breach of these terms and conditions we, as agent for the seller and on our own behalf, shall be entitled to exercise one or more of the following rights and remedies: b. To proceed against you for damages for breach of contract, c. To rescind the sale of that Lot and/or any other Lots sold by us to you d. To resell the Lot (by auction or private treaty) in which case you shall be responsible for any resulting deficiency in the total amount due (after crediting any part payment and adding any resale costs). Any surplus so arising shall belong to the seller. e. To remove, store and insure the Lot at your expense and, in the case of storage, either at our premises or elsewhere f. To charge interest at a rate not exceeding 2% per month on the total amount due to the extent it remains unpaid for more than 3 working days after the sale g. To retain that or any other Lot sold to you until you pay the total amount due h. To reject or ignore bids from you or your agent at future auctions or to impose conditions before any such bids shall be accepted i. To apply any proceeds of sale of other Lots due or in future becoming due to you towards the settlement of the total amount due and to exercise a lien on any of your property in our possession for any purpose until the debt due is satisfied j. We shall, as agent for the seller and on our own behalf pursue these rights and remedies only so far as is reasonable to make appropriate recovery in respect of breach of these terms and conditions. 9. Commission Bids a. We will if so instructed clearly and in writing execute bids on behalf of a registered bidder. b. Neither the auctioneer nor our employees or agents shall be responsible for any failure to do so. c. Where two or more commission bids at the same level are recorded we reserve the right in our absolute discretion to prefer the first bid so made. 10. Description & Conditions Whilst we seek to describe lots accurately: a. Except as otherwise provided by State or Federal Law, no condition or warranty is implied by the Auctioneer with any lot offered. As all lots are open for inspection prior to the commencement of the sale, it is assumed that the goods have been inspected and are sold with all faults, if any. Except as otherwise provided by State or Federal law, no compensation shall be made in respect of any fault or error of description of any lots sold, no lot shall be sold or deemed to be sold by catalogue description. b. Any statement as to the quantity of goods is approximate only and is represented to the Company. The company gives no warranty that quantities as stated are correct. In addition to any other rights the Purchaser may have compensation for shortages in quantity shall be given if demanded in writing before delivery of the goods. In the event of any dispute as to compensation, dispute shall be settled by an arbitrator who shall be a person mutually agreed upon by the parties.

Local Taxes Apply. Overseas buyers are exempt from paying local taxes but are responsible for all taxes, fees and duties in relation to exportingimporting items into their country.

Please request a condition report before bidding. No condition or warranty is implied by the Auctioneer with any lot offered. As all lots are open for inspection prior to the commencement of the sale, it is assumed that the goods have been inspected and are sold with all faults, if any.