Weekly Auctions of Exceptional Items
Collection of Itahashi Antique Doll Museum
The Collection of Itahashi Antique Doll Museum
Lot Number: Lowest
July 5th-6th, 2012
TOC Ariake Bldg. #W-5F,
3-5-7 Ariake, Koto-ku,
- 18% up to ¥500,000.00
- 13% above ¥500,000.00
Terms & Conditions
MAINICHI AUCTION CONDITIONS OF CONSIGNMENT AND SALE The following Conditions of Consignment and Sale are Mainichi Auction Inc. and the sellers' entire agreement with the buyers regarding selling and buying properties through Mainichi Auction, which is conducted by Mainichi Auction Inc. Before consigning your property as a seller or participating in Mainichi Auction as a buyer, please read the Conditions carefully and acknowledge that you are bound to these Conditions. --------------------------------------------------------- Please note that the catalogue description basically do not include the perfect information and condition of the lots. Prospective buyers acknowledge that all lots are of an age and type, which means that they are not in perfect condition. Buyers should note that each lot’s description is “as is” basis. Prospective buyers are strongly recommended to inspect the items in person by participating the viewings. In as much as buyers are given the opportunity to examine works displayed prior to the sale, no claim or cancellation may be after the sale is completed. Mainichi Auction may prepare and provide condition reports by e-mail (email@example.com) to assist buyers when they are inspecting lots, if requested. Prospective buyers are responsible for satisfying themselves concerning the condition of lots and the information referred to in the catalogue description and making bid on the basis of their own judgment. --------------------------------------------------------- BASIC GLOSSARY OF TERMS The followings will help explain and define some of the key words commonly used in this catalogue. Lot means any property deposited with us for sale at Mainichi Auction. Each Lot bears Lot number and our auctioneer conduct the sale according to this number. Lot sometimes comprises several items or works. Bid number means special identification number allocated to a registered Catalogue subscriber or a participant. Every participant receives the paddle bearing this number at the reception desk and makes bid by raising this paddle to our auctioneer. Seller means the institution, company or person who consigned the property to be sold at Mainichi Auction or the representative legally commissioned sole right to sell the property. The seller must be a sole owner of the property with an unrestricted right to transfer the title to the Buyer. Buyer means the person who made the highest bid accepted by our auctioneer. Hammer price means the amount of the highest bid accepted by our auctioneer regarding a Lot. According to this amount we calculate the total amount for Sellers and Buyers according to our designated seller commission, buyer's premium and Japanese Consumption Tax (JCT). Selling price means the total amount due to a Seller subtracted Seller's commission from Hammer price. We charge each Lot fixed amount of 10,000 yen when the hammer price is less than 70,000 yen and 18% of hammer price of each Lot fetched 70,000 yen or more and less than 500,000. And 13% Seller's commission is applicable to each Lot fetched 500,000 or more. Buyer's price means the total amount payable by the buyer. The buyer's premium will be added to the Hammer price at a rate of 18% of each lot less than ¥500,000 and 18% up to 500,000yen and 13% thereafter of each lot ¥500,000 or more. JCT must be always payable on the premium. Reserve price means the amount below which we agree with the Seller that property cannot be sold and cannot be above our low estimate. We negotiate the amount before accepting consignment and have the right to refuse the consignment in case of discrepancy between our estimate and the desirable selling price requested by the Seller. No estimate or Nariyuki in Japanese means that we are not able to suggest any reasonable opinion to estimate the Lot because of our uncertainty about authorship, circa, origin, provenance, signature, medium and/or other points. Or it means that we cannot suggest any concrete estimate because of lack of recent trade data. Regarding these lots indicated "No estimate" or "Nariyuki" in this catalogue we will not bear any responsibility if the authorship indicated in this catalogue is different from real author. Counterfeit means a Lot constituting an imitation conceived and executed originally with a fraudulent intention as a whole to deceive as to authorship, origin, age, period, culture or source where the correct description as to such matters is not reflected by the description in the catalogue and which at the date of the auction had a value materially less than it would have had if it had been in accordance with the description in the catalogue. Accordingly, no Lot shall be capable of being a counterfeit by reason of any damage and/or restoration work of any kind including repainting. TO PARTICIPATE IN MAINICHI AUCTION AS SELLER OR A BUYER (1)Participating in Mainichi Auction 1.Open to publicMainichi Auction is open to public. Anyone can participate in Mainichi Auction as a seller or a buyer by buying a Mainichi Auction Catalogue and finishing registration. Obtaining catalogue and registration can be accepted in advance or at the registration counter on the day of auction. We, however, have the right to refuse accepting registration at our complete discretion without notifying any reason. 2.The fee for catalogue subscription and registration and Membership numberRegistration and a Catalogue for a particular Mainichi Auction as a buyer 3,000 yen Registration and a Catalogue for a particular Mainichi Auction as a seller (also eligible as a buyer) 5,000 yen One-year Catalogue subscription (automatic registration and eligible both as a seller and a buyer) 25,000 yen Three-year Catalogue subscription (automatic registration and eligible both as a seller and a buyer) 60,000 yen The fee includes JCT and additional postage will be payable for a subscriber living abroad. (Asia 12,000 yen, USA, Canada, Europe and Australia 15,000 yen per year) Please fill out the subscription form (on our web-site or will be sent upon request) and send it to us along with the designated fee. Our special bank account for this matter is: Sumitomo Mitsui Banking Corporation Marunouchi Branch Mainichi Auction, Inc. Current Account 6550793 A subscriber shall pay remittance charge. After receiving the form and fee, we will allocate particular Membership number to each subscriber that is used as an identification number for selling and buying at Mainichi Auction and this number is unchanged during the subscription period. Membership number is printed on the entrance ticket. 3.Catalogue and registration fee includes:??All Mainichi Auction Catalogues (regular and special) and entrance ticket including domestic postage. An entrance ticket enables each registered participant to accompany friends or relatives who are interested in buying at Mainichi Auction. - The right to sell or buy properties at Mainichi Auction. - Absentee bid or telephone bid service on behalf of registered prospective buyers. - Periodical information of auction results. - Evaluation service before consigning properties to Mainichi Auction. We, however, charge special fee if we think it is necessary to have the Lot examined by external appraisal institution. Traffic expense for a connoisseur further than greater Tokyo metropolitan area is also excluded. - Catalogue listing works of consigned properties including taking photos. - Special discount rate for the books published by us. CONDITIONS MAINLY CONCERNIG PROSPECTIVE BUYERS (2)Mainichi Auction CatalogueMainichi Auction Catalogue Catalogue will be sent to subscribers two weeks prior to the auction date or will be handed over to new subscribers registered at our reception desk on the day of auction or pre-sale viewing. 1. Catalogue description practice Our Catalogue practice is explained in these Conditions and in this Catalogue. Where terms have special meanings ascribed to them a glossary may appear in this Catalogue. 2. Extent of liability for catalogue description Statement or condition report by us, or made orally or in writing elsewhere, regarding the authorship, origin, date, age, size, medium, attribution, genuineness, provenance, condition of any Lot are merely statement of our opinion, and are not be relied on as statements of definitive fact. We, therefore, will not bear any legal responsibility regarding our opinion. For the items listed as table ware in the catalogue are not on condition of usage as table ware, but on condition of decorative arts. 3. Extent of liability for photographs and illustration Photographs and illustrations are for guidance only, and should not be relied on either to determine the tone or color of any lot or to reveal imperfections. 4. Estimate price Our estimate price is merely our opinion and should not be relied on as a statement that this price is either the price at which the Lot will sell or its value for any other purpose. 5. Extent of liability for condition Many items are of an age or nature which preclude their being in perfect condition and we will make reference to damage and/or restoration in this Catalogue or by other means of condition report when we find such defects. We provide this information for guidance only and the description of ?being in good condition? or absence of such reference does not imply that an item is free from any defects or restoration nor does a reference to particular defects imply the absence of any others. Please note that the nature and capacity of Catalog, as a printed medium, is very limited to convey perfect information and condition and we are unable to get rid of misprints completely. Prospective buyers, therefore, are strongly advised to examine personally any Lot in which they are interested at pre-sale viewing. Prospective buyers are responsible for satisfying themselves concerning the condition of Lots and the matters referred to in the Catalogue description and making bid on the basis of their own judgment. We will not accept any cancellation of sales contract because of the difference between Catalogue description and real state of the Lot. (3)Pre-sale viewing exhibition Pre-sale viewing exhibition is held on the day before auction from 10:00 am to 6:00 pm and in the morning of auction day from 9:00 am to 12:00 noon. We will notify any change of schedule by this Catalogue. Prospective buyers are strongly recommended to participate in Mainichi Auction after making final decision by examining any interested Lot thoroughly. In our exhibition room our staffs are very much pleased to offer any service that might help making such decision. We, however, have right to refuse any service that may physically damage a Lot. To supplement Catalogue information we offer telephone examination service on behalf of our registered subscribers who cannot attend pre-sale exhibition. We also offer free mailing service of color-copied photos of interested Lots (within 20 titled Lots) for our registered subscribers. We do not bear any responsibility regarding the influence on prospective buyers' decision making in connection with these services. (4)Conduct of Mainichi Auction1. Settlement currency, commission and premium Mainichi Auction is conducted as an auction system open to any registered participants. Pricing, bidding and payment will be made in Japanese yen. The Buyer's premium will be added to the Hammer price at a rate of 18% of each Lot less than ¥500,000 and 18% up to 500,000yen and 13% thereafter of each lot ¥500,000 or more. JCT must be always payable on the premium. 2. Participating in Mainichi Auction Only registered participants or official representatives of one year or three year subscribers can make bid although auction room is open to visitors. By showing entrance ticket at the reception desk, participants will be handed over the paddle numbered his/her own registered Bid number. Bids may be executed in person by this paddle during the auction. By raising this paddle, participants show their intension to buy interested Lot to our auctioneer and lowering this paddle indicates no intension to make further bid. Participants may supplement raising a paddle with oral appeal to attract auctioneer's attention. 3. Admission to auction room Mainichi Auction take place on our own auction room or premises over which we have complete control for the sale. We have the right, at our absolute discretion and without notifying any reason, to refuse to allow any person to participate in our auction and to refuse admission to our premises. 4. Auctioneer's discretion During the course of the auction the auctioneer has the rights at his absolute discretion to: - Commence and advance the bidding in levels that he considers appropriate in the light of the value of the Lot under auction. - Decide a successful Buyer in the case of two or more identical highest absentee bids. - Decide a successful Buyer or withdraw any Lot and re-offer it for another sale. - Ruling a dispute regarding auction such as successful Buyer, Hammer price, etc. - Refuse a bid regardless of it's indicated price. - Divide a Lot or combine any two or more Lots. 5. Successful bid Subject to auctioneer's discretion, the striking of his hammer marks the acceptance of the highest bid and identifies the Hammer price at which the Lot is knocked down to the Buyer and the conclusion of a contract for sale between the Seller and the Buyer through our agency. However, the auctioneer may continue to accept higher bid if such bids were made indistinguishably and immediately after striking his hammer. Following the sale, the Buyer must provide Confirming Document with the Buyer's signature if so requested by us. A dispute with regard to identifying successful Buyer and/or Hammer price shall be ruled only by our documents. The successful bidder is unable for any reason including the conditions of the work or frame to cancel the bid. 6. Telephone bids If a prospective buyer make an arrangement with us we shall use reasonable efforts to contact the bidders to enable them to participate in bidding by telephone for the Lots with the set price of the Company. We will bear no liability to either the Seller or any prospective buyers as a result of failure to do so because of the following reasons: - Interruption of communication because of mechanical trouble or failure of communication line. - Unable to reach the prospective buyer at the very moment of the auction of the Lot. - Unable to respond appropriately to the auctioneer's advancement of bidding level and the auctioneer deemed such delay as no intension for making further bids. 7. Absentee bids If a prospective buyer gives us instructions to bid on his/her behalf, by sending (either mailing or fax) Absentee Bid Form which can be found at the back of this Catalogue, we shall use reasonable efforts to do so, provided these instructions are received not later than 10:00 am of the day of auction. Bids should be placed in Japanese yen. A prospective buyer must confirm the receipt of the Form by calling our office. The Form will be received either by bringing to our office or posting in absentee bid box at pre-sale viewing exhibition room. No Absentee bid application by telephone or oral instruction shall be accepted. Lots will always be bought as cheaply as is consistent with other bids within instructed price. We, however, cannot exclude completely such mistakes as misreading of the Form and cannot accept liability for failure to make successful bid for any reason. Prospective buyers should therefore always attend personally if they wish to be certain of bidding. (5)After the sale(from successful bid to collection of purchases) 1. Buyer's price and payment deadline The Buyer must pay us Buyer's price in full within ten days after the next day of auction. Buyer's price is the total amount of the Hammer price, buyer's premium and JCT defined in (4)-1 "Conduct of Mainichi Auction". If the buyer failed to meet the payment deadline, clauses defined in (6)"Our rights and remedies for non-payment" shall be applicable to the Buyer. 2. Payment by cash The Buyer can make payment in cash at our auction room or at our office within 10 days after the next day of auction. After finishing payment in full, the Buyer can collect the Lot. We are ready to arrange packing and shipment as the Buyer's agent. If the Buyer want to collect the Lot on the spot of auction room, please instruct our staff at our reception desk as early as possible showing the Buyer's Bid number. 3. Transfer to our bank account We issue an invoice to the Buyer within 4 days after the sale and the buyer must make remittance accordingly to our bank account by bank transfer. (Buyers are responsible for remittance charge): Sumitomo Mitsui Banking Corporation Marunouchi Branch Mainichi Auction, Inc. Current Account 6550793 Please note that payment will not be deemed to have been made until we are in receipt of cash or cleared funds. 4. Collection of purchases The Buyer may acquire title to the Lot after making remittance of the total amount due and this is the settlement of a contract for sale. The Buyer shall collect the Lot either on the spot of our auction room or at our depository or arrange shipment of the purchased Lot, at the Buyer's expense and responsibility, no later than ten days after the next day of the sale. We may arrange packing and shipping as the Buyer's agent. Although we shall suggest carriers, we cannot accept liability in this respect. We shall retain purchases for ten days after the next day of the sale whether or not payment has been made. Where purchases are not collected within this period, unless we specifically agree to the contrary, we have the right to arrange external storage at the Buyer's risk and expense. A storage fee will be payable by the purchaser. It is purchaser's responsibility to insure such lots during this period. Due to the transportation policy of DHL Japan, shipments via DHL are not available at our auction house. 5. Risk-bearing after the sale Any Lot purchased is entirely at the Buyer's risk from the time that the payment in full has been made. The Buyer shall insure the Lot, based upon any amount of insured value for which the Lot should be covered, by his/her own discretion, expense and responsibility by notifying us to do so. We, however, as a good-will agent of a contract for sale, insure the Lot purchased until the Buyer collect the Lot and the maximum insured period is ten days after the next day of the sale. The buyer will be compensated only by the insurance in case of damage and theft and the maximum amount of compensation shall be ?Buyer's price? of the Lot. Please note that we will not, in any circumstances, be liable for any loss or damage caused to frames or to glass which is covering prints, paintings or other works although we will make an all-out efforts to deliver the Lot safely if we are commissioned packing and shipping. Conditions of Movable Property Comprehensive Insurance Policy of our contracting insurance company are applicable in case of compensation. It is solely the Buyer's risk bearing in case of exporting the Lot because we do not insure any Lot in such case. 6. Claims from third party after the sale We, the Seller, the Buyer agree that Japanese Civil Law and Law of Curio Dealing have exclusive jurisdiction to settle any dispute in case of claims or/and rights of pledge from the third party that both we and the Seller could not predict or investigate before the sale. (6)Our rights and remedies for non-payment by the Buyer 1. Additional payment of interest We charge interest at an annual rate of 18 % on the full amount of the Buyer's price to the extent it remains unpaid for more than 10 days after the next day of the sale. The buyer must pay interest in addition to the Buyer's price. 2. Cancellation of the contract for sale If the Buyer fails to make payment in full in spite of our repeated re-issuing of invoice after the deadline of payment, we shall have the right to cancel the contract for sale with the Buyer. We also deem it as no intension of payment by the Buyer and have right to cancel the contract if the invoices cannot reach the Buyer because of refusal of receipt, absence or unknown new address despite of correct registered mailing address. We shall cancel the contract by sending a letter of cancellation to the registered address regardless of refusal of receipt or unknown new address. 3. Cancellation of subscription In case of above (6)-2, we shall, without any obligation, cancel the Catalogue subscription of the Buyer and not refund remaining Catalogue fee. 4. Compensation by the Buyer After the cancellation of the contract, the Buyer shall lose any right over the Lot. We shall have the sole right to arrange a resale of the Lot, publicly or privately, and, if the re-auctioned Buyer's price or privately-sold price results in a lower price than the original Buyer's price, claim the balance from the Buyer together with any costs incurred in connection with the Buyer's failure to make payment. (7)Our guarantee extent of liability in respect of counterfeit Lots1. Procedure and the deadline for Counterfeit claim Within one year after the sale based upon our Catalogue description, the Buyer shall be entitled to ask refund of the Buyer's price by notifying us in writing that in his/her view the Lot concerned is Counterfeit. The Buyer must then return the Lot to us in the same condition as at the auction date with our invoice or receipt concerned and the evidence satisfactory to us that the Lot is a Counterfeit. A sale will be cancelled and the Buyer's price paid refunded to the Buyer if a Lot sold by us proved to have been a Counterfeit. The Lot must be free from any third party claims. This condition shall not be applied to the following Lots: - Lots described as "No estimate" or "Nariyuki" - Lots of deceased foreign artists other than Japanese whose authoritative authentication specialists or institutions, commonly admitted as reliable by major fine art institutions, do not exist. We shall not deem the opinion of other specialists as necessary proof to replace our opinion. - Lots of reproduction prints which are not listed on the catalogue raisonne. - Items which are accompanied as set items to the titled piece with no photographs listed on the catalogue. - Lots of ceramics, porcelain, glass works, industrial art objects, medals and jewelry. 2. Commission of authenticity appraisal Regarding authorship, we are entitled to choose a right and reliable appraisal institution, if available, to decide the authenticity at our own discretion according to following manner: - Paintings and other works of deceased artists: Our designated appraisal institution affiliated with specialized art dealers, an official connoisseur of the artist or a specialized research institution (or person). - Paintings and other works of living artists: An artist himself/herself or an officially appointed connoisseur or a concerned person designated law. - Prints: The same manner as is defined in ? and ? . However, we mostly rely on catalogue raisonne in general because such appraisal institutions are very limited in the field of prints and prints artists. We ourselves have the right to decide the authenticity if the Lot is excluded from catalogue raisonne, no catalogue raisonne has been published ever or mistakes are found in catalogue raisonne. (Please refer to the list of external appraisal institutions regarding famous Japanese artists that is attached in this catalogue) 3. No obligation to refund We shall not be obliged to refund any amount if either the Catalogue description or auction room notice at the auction date corresponded to the generally accepted opinion of the scholars or experts at that time, or fairly indicated that there was a conflict of opinions; or it can be demonstrated that the Lot is a Counterfeit only by means of either a scientific process not generally accepted for use until after the publication of the Catalogue or a process which at the date of the auction was unreasonably expensive or incapable or likely to have caused damage to the Lot. 4. Entitled person to claim refund The benefit of this guarantee of refund is not capable of being transferred, and is solely for the benefit of the person to whom the original invoice was made out by us in respect of the Lot when sold and who, since the sale, has remained the sole owner of the Lot without disposing of any interest in it to any third party and being capable of transferring title to us. 5. Our rights and extent of our liability We shall be entitled, to counter the claim of Counterfeit, to rely on any scientific or other process to establish that the Lot is not a Counterfeit, whether or not such process was used or in use at the date of auction. Although the Buyer's price will be refunded to the Buyer if the Lot is proved to have been Counterfeit, in no circumstances shall we be required to pay the Buyer any more than the total amount of Buyer's price paid by him/her for the Lot concerned and the Buyer shall have no claim for interest. Neither the Seller nor we, nor any of our employees or agents, are responsible for the correctness of any statement as to the authorship, origin, date, age, attribution, genuineness or provenance of any Lot nor for any other errors of description or for any faults or defects in any Lot. Neither the Seller, ourselves, our employees or agents, give any guarantee in respect of any Lot. Any warranty of any kind whatsoever is excluded by this clause. CONDITIONS MAINLY CONCERNING SELLERS (8)Our role and Seller's commission Our sales at Mainichi Auction are undertaken as agent, on behalf of the Seller. And through our mediation and Mainichi Auction Conditions, the contract for the sale of the Lot will be concluded between the Seller and the Buyer and will be settled according to this contract. Calculated by reference to Hammer price, we shall charge fixed amount of 10,000 yen to each Lot less than 70,000 yen and 18% Seller's commission of the Hammer price of each Lot 70,000 or more and less than 500,000 and 13% of the Hammer price of each Lot 500,000 or more. Please note that we shall have complete discretion and no obligation to disclose the information as to which persons should be admitted to the auction, and as to which bids should be accepted since Mainichi Auction is a public auction. (9)Procedures from consignment to receiving Selling price1. Registration as a seller A prospective seller must start his/her consignment procedure by registering with Mainichi Auction to sell any property at Mainichi Auction. Please refer to (1) Participating in Mainichi Auction. 2. Sending Auction Estimate Questionnaire Please send us a photograph (normal color print is OK) of your property and an Auction Estimate Questionnaire Form informing name of artist, title, size, signature, medium, circa, condition, catalogue raisonne number, provenance, attachment and other information which a prospective seller think useful to sell property at auction. The Form is attached to this catalogue. 3. Auction estimate We give a prospective seller a free verbal or written auction estimate after examining a photograph and information. If a prospective seller agrees with our estimate we will proceed to consignment procedure. Please note that any estimate given, orally or in writing, is a matter of our opinion only at that moment and is not an assurance in relation to the price the work for consignment will eventually fetch. 4. Reserve price A prospective seller can set up Reserve price below which the work cannot be sold and cannot be above our lower estimate after negotiating the price with us. We, however, have the right to refuse the consignment in case of uncompromising discrepancy between our estimate and the desirable selling price requested by a prospective seller. 5. Packing, shipping and storage The Seller may bring or send the Lot by bearing packing and shipping cost. After receiving and examining the Lot, we fill out ?Application Form for Mainichi Auction? on behalf of the Seller and register all information in our computer. The Seller will receive the Seller's copy of ?Application Form for Mainichi Auction?, which also serves as a receipt of the Lot, and a copy of computerized data. Please read and confirm computerized data carefully because it comprises basic information for Catalogue description. The Lot will be in our custody until the collection by the Buyer. 6. Catalogue listing Except the Seller's special instruction to us, All administrative works for Catalogue listing such as taking photograph and drafting description will be done by us and included in the Seller's Catalogue and registration fee. 7. Conclusion of contract for sale The striking of auctioneer's hammer marks the conclusion of a contract for sale between the Seller and the Buyer through our agency. 8. Payment of Selling price After the sale we shall require payment in full from the Buyer. Provided this has occurred, we shall remit to the Seller a total amount of Seller's price 20 days after the auction date and this is the settlement of a contract for sale. We may, sometimes, divide the payment if several Buyers bought the Lots. 9. Unsold Lot If any Lot unsold we will consult the Seller whether to withdraw or resale at auction or privately. The Seller will bear the cost of packing and shipping in case of withdrawal. We shall offer free storage of 14 days after the auction in case of withdrawal of the Lot. The Lot, however, must be colleted from us after the expiration of this service and we have the right to store it at external warehouse. (10)Risk-bearing of the lot during shipping, storage and exhibitonWe will automatically insure the Lot on behalf of the Seller, from the arrival date of the Lot to the date of title transfer after the Buyer's remittance in full. If the Lot has not been sold it will remain insured until the expiry of 14 days collection deadline for the Seller. Unless we agree otherwise, the insured value that we consider to be its appropriate value by our absolute discretion is as follows: - The Lot without Reserve price: intermediate price between our upper estimate and lower estimate minus Seller's commission. - The Lot with Reserve price: Reserve price minus Seller's commission. - The Lot described as "No estimate": 50,000 yen regardless of its category. The Seller will be compensated only by the insurance in case of damage and theft and Conditions of Movable Property Comprehensive Insurance Policy of our contracting insurance company are applied in case of compensation. The maximum amount of compensation shall be our insured value defined. We will not, in any circumstances, insure and be liable for any loss or damage caused to frames or to glass which is covering prints, paintings or other works during consignment. Please note that our insurance principle is entirely based upon our good will as an agent of a contract for sale and the Seller shall be fully responsible for risk bearing until the title passes to the Buyer. The Seller, we recommend to do so especially for the Lot in higher price, may insure the Lot based on any amount of insured value for which the Lot should be covered, by his/her own discretion and responsibility by notifying us. (11)Seller's warranties and responsible expenses excluded from Catalogue and registration fee1. Sole ownership of the Lot The Seller must be the sole owner of the Lot or the representative legally commissioned from the sole owner with an unrestricted right to transfer title to the Buyer free from all third party's rights or claims. If the ownership information proves incorrect the Seller will indemnify us and/or the Buyer in full on demand against all claims, costs or expenses incurred by us or the Buyer as a result. And we or the Buyer have the right to take legal action against the Seller. 2. Obligation to report the truth The Seller must provide us with all information to the best of his/her knowledge concerning the name of artist, title, size, signature, medium, circa, condition, catalogue raisonne number, provenance, attachment and so on. If we find intentional forgeries with regard to such information before auction we have the right, at our complete discretion, to withdraw the Lot from sale and return it to the Seller at any time. If such Lot with incorrect and forged description, which we could not find at the examination procedure before the auction, has been sold, we or/and the Buyer have the right to cancel the contract for sale, return the Lot and ask full compensation for any costs or expenses incurred by the forgery information or/and concealed defects and faults. We have the right to take legal action against the Seller in both cases. 3. Prohibition of the Seller's bid To raise the bid price the Seller may not bid for his/her Lot nor employ any person to do so on the Seller's behalf. 4. Withdrawal of the Lot After the agreement of consignment, the Seller may not withdraw the consigned Lot from sale without our consent. 5. Expenses of the Seller's responsibility The Seller will bear all costs relating to: - Packing and shipping the Lot to us for sale and from us in case of unsold. - Any applicable insurance from the date of shipping to the settlement of the contract for sale or to the date of returning to the Seller in case of unsold. - Any examination by external appraisal institution that we believe necessary. - Any certificate of authenticity issued by right appraisal institution. - Any restoration and framing of the Lot. - Storage of the Lot after 20 days from the auction date. (12)Our righs and responsibility regarding the sale of Lot 1. Editing Catalogue and copyright We shall have the complete discretion regarding photograph, description, how to arrange coverage for the Lot, numbering and listing order of the Lot in Catalogue and have the right to use them in whatever way we see it. No Sellers can be allowed to inspect them in advance. The copyright in all photographs, illustrations and descriptions in Catalogue is and remain at all times our property and shall not be used by anyone without our prior permission. 2. Sale arrangement Regarding sale arrangement, we shall have complete discretion as to the way the Lot is exhibited at pre-sale viewing, the place and manner of auction, combination or division of the Lot for sale, deciding a successful Buyer and withdrawing any Lot and re-offering it for another sale. 3. Selling below the Reserve price Although we will make every efforts to sell the Lot above the Reserve price if the price is agreed, we shall in no circumstances be liable if bids are not received at the level of the Reserve price. We, however, shall be entitled to sell the Lot below the Reserve price. If we do so, we shall be obliged to account to the Seller as if the Hammer price was equal to the Reserve price by compensating the discrepancy. 4. Unsold Lot If the Lot is unsold we shall in no circumstances be liable to the Seller to pay or lend the money relevant to our estimate price. 5. Non-payment by the Buyer In the event of late payment from the Buyer because of unintentional or clerical reasons we will make every effort to collect the money as soon as possible and make such payment of Selling price to the Seller after confirming the remittance. If we judge that the Buyer has no capability to pay the Buyer's price or breached the contract for sale, we shall cancel the contract according to (6)- ?Our rights and remedies for non-payment by the Buyer? and shall take any steps we consider necessary to collect the amount due incurred by the Buyer. However, we shall not be obliged to compensate the Selling price due to the Seller ourselves and it is our own decision whether or not to proceed to legal action on the Seller's behalf. (13)Our rights and the Seller's liability case of counterfeit Lot If within one year of the date of the auction the Buyer satisfies us that the Lot is a Counterfeit after the process defined in (7)-"Our guarantee and extent of liability in respect of counterfeit Lots", we will proceed to following procedures against the Seller: 1. In case of non-payment If the Buyer at that time has not yet paid the full amount due, we shall have the right to cancel the contract and send the Lot back to the Seller. 2. In case of the payment has been made If we have at that time paid the Seller the whole or part of the full amount of Selling price, then the Seller must refund to us, on demand, the total amount paid. In this case we shall exercise a lien over any property of the Seller under our control as security for the amount due. (14)Our liability regarding jewelry, designer items, watches including clocks and music boxes References of gemological reports, diamond grading report, analysis report, or sorting memo issued by gemological laboratories appointed by us in the catalogue entry are for guidance only, and the correctness and relevance to the lots should be evaluated by personal inspection by the bidder, and we accept no responsibility for their correctness and relevance to the lots. As many colored gemstones are treated to enhance their appearance, which have been accepted by international jewelry trade, we do not guarantee that the lack of the description in the catalogue entry is equal to the lot without such treatment. Regarding designer items, catalogue descriptions and comments are compiled by MA with due care and attention. Nevertheless, they are solely reference and guidance for the prospective buyers, and the correctness and relevance to the lots should be evaluated by personal inspection by the bidders, and MA shall not be responsible or liable for any claims for the correctness of the catalogue descriptions and their relevance to the lots.Regarding such items as watches, wristwatches, clocks and music boxes that contain mechanical parts and movements, we have checked whether they work well or not before the sale. We, however, have not had inspected any of them by an appropriate mechanical specialist to examine the original genuineness of movements and parts, timekeeping, water-resistant and waterproof. The description in this catalogue is entirely based upon the manufacturers' statement, sellers' information and our opinion. The original genuineness of movements and parts, timekeeping, water-resistant and waterproof cannot be guaranteed under any circumstances. We do not guarantee that any kind of accompanied items such as box, guarantee, booklet and the others are original to the timepiece, and we accept no responsibility for their condition, discrepancies between the lot and the catalogue entry or relevance to the lot. LAW AND JURISDICTIONThese conditions of Mainichi Auction are subject to Japanese Law, which shall apply to their construction as well as to their effect. We, the Seller and the Buyer submit to the exclusive jurisdiction to Tokyo District Court or Tokyo Summary Court.
Local Taxes Apply
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