Asian Art

1. Definitions (a) "seller" means the owner of the Goods. It is implied that the Seller is the legitimate owner and is authorised to sell the Lot. (b) "bidder" means any registered person participating in the auction, and the Buyer is the successful Bidder for a particular Lot. (c) "Lot" means the item(s) put up for sale by Blanc de Chine Auctions Ltd and to which the present Terms and Conditions apply. 2. Catalogue descriptions (a) Any representation in any catalogue or otherwise as to the origin, date, age, attribution, authenticity or estimated selling price of any lot is a statement of opinion only. Such statements do not constitute a representation warranty or assumption of liability by BdC Ltd in relation to the Lot. Any prospective Buyer should satisfy themselves prior to the sale as to the reliability of the catalogue description. (b) The absence of mention related to prior restorations in the catalogue descriptions does not imply that the good is exempt thereof. (c) Photographs of any Lot provided by BdC Ltd are for indicative purposes only and are not deemed to be a precise representation of the said Lot. (d) The Buyer is advised to seek independent expert advice in order to be assured of the authenticity and true state of the good. 3. Inspection Prior to auction, prospective purchasers are strongly advised to personally examine any property in which they are interested to satisfy themselves in relation to matters which may concern them. 4. Condition report (a) BdC Ltd may issue a Condition Report on request prior to the sale. (b) This Condition Report is for identification purposes only and cannot be considered as giving a precise account of the Lot?s true state. Thus, some imperfections and faults may not be accounted for in the Condition Report. (c) This Condition Report is for identification purposes only and cannot be considered as giving a precise account of the Lot?s true state. Thus, some imperfections and faults may not be accounted for in the Condition Report. 5. Estimates Estimates are based on various factors inherent to the situation of the market at the time of the sale, as well as considerations such as the condition, rarity, or quality of the item etc. Estimates are only indicative and represent the opinion of BdC Ltd. Estimates provided by BdC Ltd cannot constitute a guarantee as to the value of the good. Subsequently, goods may sell at prices lower or higher than the provided estimates. 6. Contract of sale (a) The contract of sale is between the Buyer and the Seller. (b) The Buyer shall be the bidder at the highest price at the fall of the hammer. The sale is deemed complete once the auctioneer announces its completion by the fall of the hammer and the contract shall be binding thereafter between the Buyer and the Seller and BdC Ltd. (c) When a Buyer purchases multiple Lots, each Lot is the subject of a separate contract of sale. 7. Transfer of property Property of the goods shall pass to the Buyer only once BdC Ltd has received full payment for the goods, this includes the price at the fall of the hammer as well as Buyer?s premium, relevant taxes, and costs in relation to shipping. 8. Transfer of risks Purchased Lots shall be at the Buyer?s risk in all respects from the fall of the hammer, and neither BdC Ltd nor their agents shall be responsible for any loss or damage of any kind, whether caused by negligence or otherwise. 9. Cancellation of the sale (a) At the fall of the hammer, the contract is formed between the Buyer and BdC Ltd and is binding thereafter. (b) Under no circumstances can the Buyer cancel the sale. (c) BdC Ltd 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 Buyer, and up to a period of 6 months after the said sale. (d) 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. (e) In the event of internet-only auctions (where are no offered advanced physical viewing times), the Buyer shall have a 14 day right to retract, after receipt of the Lot, under EU Consumer Law. 10. Payment (a) All purchased lots must be paid for on the day of the auction. Commission bids must be paid for no later than the day after the auction. Payment must be made by cash, debit, credit card or bank transfer. We do not accept cheques. We do not currently accept American Express. (b) BdC Ltd adheres strictly to current anti-money laundering regulations and reserves the right to refuse payment or cancel the sale of any lot, should suspicion or evidence of regulation infringement arise. The 2020 guidelines reference ?Art Works? but are as yet to be fully defined. As such, BdC Ltd reserves the right to adapt buying/selling rules at any time, in order to maintain compliance. (c) Cash payments shall not be receivable for amounts over ?10,000, regardless of the payment being for one or multiple Lots. As of 2020, new directives also extend to other forms of payment where the amount is in excess of ?10,000 and this may require further information sharing covering both buyers and sellers. (d) Should it encounter contravention of said regulations, or is unable to bring buyers/sellers into line with said regulations through advice and support, BdC Ltd reserves the right to cancel any lot transaction and offer said lots to underbidders and where applicable will notify the relevant authority of the suspected contravention if deemed intentional. (e) Payments made by someone other than the registered Buyer shall not be accepted. (f) Title will not pass to the Buyer until BdC Ltd has received all amounts due to them in cleared funds even if the Lot has been released to the Buyer. 11. Taxes (a) bVAT is payable on the buyer?s premium, and for some lots, VAT is payable on the hammer price. The successful bidder will be responsible to ascertain and pay any applicable taxes including VAT, sales tax or any equivalent tax arising on sale of a particular lot. (b) W.e.f. 1st January 2021 (Post Brexit), Private individual buyers based outside UK will now be charged VAT at the applicable rate and will not be able to claim a VAT refund. 12. Remedies for non-payment If the Buyer fails to make full payment in cleared funds within the time required as aforementioned, BdC Ltd shall be entitled to exercise any one or more of the following rights or remedies additional to such other rights or remedies available: (a) To cancel the sale (b) To resell the Lot on such terms by auction or otherwise entirely at BdC Ltd?s discretion. The Buyer will be liable for all costs including legal fees incurred in the sale and will remain liable for any shortfall arising upon sale. (c) To offset against any sums which BdC Ltd may owe the Buyer the outstanding sums unpaid by the said Buyer (d) Where the Buyer owes sums to BdC Ltd in respect of different transactions, to discretionarily apply any sum paid by the Buyer for discharge of any owed sums. (e) To refuse entry to the Buyer at any future auction and/or reject any future bids by the Buyer and/or seek a deposit from the Buyer entirely in the discretion of BdC Ltd. (f) To exercise a lien over the Buyer?s property in the possession of BdC Ltd as collateral for any outstanding sums owed and to exercise all the rights and remedies of a person holding security over any such property, whether by way of pledge, security interest or in any other way to the extent permitted by Law. (g) To commence legal proceedings for the recovery of the total amount due together with interest, legal fees and costs. (h) To take such other action as is permissible by Law and in the discretion of BdC Ltd. 13. Shipping (a) Any shipping costs that may arise subsequent to the sale shall be at the Buyer?s expense. Such costs may include but not limited to postage, import and export permits where required and any other licence necessary for goods to be shipped outside of the European Union. (b) BdC Ltd does not offer insurance for shipping. However, BdC Ltd may arrange insurance upon the Buyer?s request and at the Buyer?s expense. (c) BdC Ltd cannot be held responsible for any damages that may be incurred to goods prior to the fall of the hammer. 14. Loss or Damage BdC Ltd does not accept liability for loss or damage occurring to Lots after the sale. BdC Ltd will use reasonable efforts when handling Lots but shall not be responsible for any loss or damages that may occur whilst the said Lot is in any third party?s care. 15. Law and Jurisdiction (a) The rights and obligations of the parties with respect to these Conditions of Sale and the conduct of the auction and any matters related to any of the foregoing shall be governed by and interpreted in accordance with the Law of England and Wales. (b) For the benefit of BdC Ltd all bidders and sellers agree that the Courts of England are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Sale and Authorship warranty relate or apply. (c) All parties agree that BdC Ltd shall retain the right to bring proceedings in any court other than the Courts of England.