SH081 Fine Jewellery and Luxury Design

Terms and Conditions IMPORTANT INFORMATION FOR BUYERS AND SELLERS If you are new to Shapiro Auctioneers please read the following pages and our standard Conditions of Business. It must be read together with the Conditions of Business, which takes precedence in the event of an inconsistency. We will be happy to give assistance on any aspects about which you may be unclear. Tel: (612) 9326 1588. Specialists in charge of a sale can be consulted at any time, either in person or by telephone, to give advice on specific lots. See the title page for details of whom to contact. PROVENANCE In certain circumstances, Shapiro Auctioneers may print in the catalogue the history of ownership of a work of art if such information contributes to scholarship or is otherwise well known and assists in distinguishing the work of art. However, the identity of the seller or previous owners may not be disclosed for a variety of reasons. For example, such information may be excluded to accommodate a Seller’s request for confidentiality or because the identity of prior owners is unknown given the age of the work of art. PRE-SALE ESTIMATES The estimated selling price of each lot is printed beside the lot description and does not include the Buyer’s Premium (or GST, when this is payable on the hammer price, as indicated by the symbol <, see GST). The estimates are prepared well in advance of the sale, are not definitive, and are subject to revision. The pre-sale estimates are intended as a guide for prospective buyers. Any bid between the listed figures would, in our opinion, offer a reasonable chance of success. However, all lots, depending on the degree of competition, can realise prices either above or below the listed estimates. It is always advisable to consult Shapiro Auctioneers nearer the time of sale as estimates can be subject to revision. BUYER’S PREMIUM A Buyer’s Premium on each lot at a rate of Twenty Two percent (22%) payable on the hammer price of each lot. Online Bidders A Buyer’s Premium on each lot at a rate of Twenty Five percent (25%) payable on the hammer price of each lot. CONDITION OF LOTS The Buyer’s attention is specifically drawn to Clauses 4 and 5 of the Conditions of Business and should particularly note that all lots are sold ‘as is’. Shapiro Auctioneers makes no representation as to the condition of any lot sold and intending buyers should always satisfy themselves as to the condition of any lot prior to purchase. DAMAGE AND RESTORATION For your guidance, in this catalogue our senior specialists have indicated all defects, imperfections and restoration which they felt to be significant. This description is not intended to be definitive, and in no way guarantees that there are no other defects, imperfections or restoration present which have not been mentioned. CONDITION REPORTS Prospective buyers are encouraged to inspect property at presale viewings. If unable to personally inspect property, solely as a convenience, Shapiro Auctioneers may provide condition reports which are merely statements of opinion and not of fact. Shapiro Auctioneers staff are available during pre-auction viewing times and by appointment to advise prospective buyers on particular items or on any aspect of the auction procedure, but the ‘as is’ provision prevails. To assist intending purchasers who are unable to view the sale, Shapiro Auctioneers is happy to fax a detailed condition report listing any significant faults, such as severe wear or discolouration. Condition reports are prepared by our senior specialists and at busy periods there may be a delay of a few days in complying with such requests. These reports are for guidance only and are given without prejudice to our Standard Conditions of Business . Please note verbal requests will not be granted within 24 hours of the sale, or later than the end of the working day prior to a sale, as written confirmation of such reports must be received by clients prior to the sale. No condition reports will be provided on lots estimated less than $500 or on group lots. GST – INFORMATION FOR BUYERS AND SELLERS. This information is not intended to be definitive or complete and if you have any queries with regard to the applicability or effect of GST you should obtain your own independent legal and/or accounting advice. GST is a tax on Goods and Services. In all cases the GST legislation takes precedence and the GST rate which applies is that in effect on the day liability for GST arises in connection with the relevant transaction. Shapiro Auctioneers has to account for GST on the cost of goods and services provided by it. Accordingly GST is added by Shapiro Auctioneers to its Buyer’s Premium and Seller’s Commission. In addition GST will also be payable in respect of insurance, storage and other services supplied by Shapiro Auctioneers or its nominated suppliers. Additionally GST may also be payable in respect of some goods auctioned by Shapiro Auctioneers. Whether or not those goods attract GST will be indicated in the sale catalogue by a < symbol. If an item has the < symbol alongside it in the catalogue then GST is to be added to the Hammer Price because the Hammer Price does not include GST. The buyer will have to pay the Hammer Price as well as a further amount so that we will receive an amount (the GST inclusive amount) which after subtracting the relevant amount of GST payable will leave as the resulting amount an amount which is the same as the Hammer Price. Where there is no GST symbol GST will not be added to the Hammer Price for the item sold (note the Buyer’s Premium plus the GST on the Buyer’s Premium is to be added to the Hammer Price). Exported goods will be GST free when the goods are exported before or within 60 days of the date any payment is made for the goods or if earlier the date on which an invoice for the goods is provided. Overseas Buyers: Full amount including GST should be paid. However, if proof of export within 60 days is provided to Shapiro Auctioneers by way of an export certificate, Shapiro Auctioneers will then arrange for a GST refund. If the export is not made before the end of the 60 days period the GST free status of those goods will be lost unless the commissioner of taxation allows further time. The exported goods will not be GST free if they are reimported into Australia. CAPITAL GAINS TAX In accordance with Australian capital gains tax legislation, valuation and date of purchase of property has now become extremely important. All assets which have been purchased prior to 20th September 1985, are generally not subject to capital gains tax if sold by the individual who originally purchased it. However, in the event of death the property may be passed on to the beneficiary. The beneficiary is deemed to acquire the asset at its market value at the date of the death and will be subject to capital gains tax on subsequent disposal. Hence valuation of property is extremely important to ensure capital gains tax liability is minimised. In some circumstances corporations owning property upon reorganisation will also trigger capital gains tax liabilities. ELECTRICAL GOODS It is essential that lots which were originally operated by mains electricity be checked by the buyer prior to use. They may not comply with the current statutory requirements and as such are offered for sale solely for display or historical purposes and may or may not be suitable for connection to the mains electricity supply. TRADE EMBARGOES Trade embargoes are currently imposed by the United Nations against Iraq, Serbia and Montenegro. For assistance and further details please contact Client Services prior to bidding. EXPORT The export of any lot from Australia or import into any other country may be subject to one or more export or import licences, as the case may be. It is the Buyer’s responsibility to obtain any relevant export or import licences. If requested, Shapiro Auctioneers will assist in obtaining required permits with any and all associated costs payable by the Buyer. Lots purchased shall be paid for in accordance with the Conditions of Business and the denial of any export or import licences or any delay in the obtaining of such licences shall not justify the rescission or cancellation of any sale or any delay in making payment of the total amount due under the Conditions of Business for the lot. ENDANGERED SPECIES Items made of or incorporating animal material such as ivory, whale bone, tortoiseshell, skins etc., irrespective of age or value, may require a specific licence prior to transportation interstate or overseas. Shapiro Auctioneers suggests that prior to the auction, prospective buyers check with their local government department regarding the importation and exportation of such items. CULTURAL HERITAGE ITEMS It shall be the responsibility of the buyer of a lot to obtain any permit required under the Protection of the Movable Cultural Heritage Act 1986, the Wildlife Protection (Regulations of Exports and Imports) Act 1982 and any other legislation (all as amended) which may restrict or prohibit the export of a lot outside a State or the Commonwealth of Australia. BIDDING ABSENTEE BIDS If instructed, Shapiro Auctioneers will execute bids for an intending buyer. This service is free. Absentee bids, when placed by telephone, are accepted only at the sender’s risk and should be confirmed before the sale by letter or facsimile. We urge you most strongly to send bids so that they are received at least twenty-four (24) hours before commencement of the auction. Lots will always be bought as cheaply as is allowed by other bids and the reserves on Shapiro Auctioneers’ books. In the event of identical bids, the first bid received will take precedence. Always indicate a top limit - the amount to which you would bid if you were attending the auction yourself. ‘Buy’ or unlimited bids will not be accepted. We will not advise any such bidder of the existence of a higher bid. TELEPHONE BIDS If you wish to bid on a lot by telephone during the auction, complete the absentee bid form giving lot number and description, your name, address and telephone number where you can be contacted during the sale. Send it to one of Shapiro Auctioneers’ offices. Just prior to the lot, a Shapiro Auctioneers representative will telephone you and bid on your behalf in the room, if they are able to connect with you on the phone. Technical faults can interfere with telephone bidding. Shapiro Auctioneers is happy to execute bids by telephone, but stress that it is not a secure manner by which to bid and therefore, Shapiro Auctioneers cannot be held responsible for any telephone failure or missed bids. ABSENTEE BID FORMS For absentee bids please use the absentee bid form provided at the back of catalogues as available from Shapiro Auctioneers’ offices. Always quote the auction title, code and date and check lot numbers and descriptions. Each absentee bid form should contain bids for one auction only. Alternative bids can be placed by using the word ‘OR’ between lot numbers. A bid by these methods is accepted at the sender’s risk. Telephone bids must be confirmed in writing. For Sydney: Tel: (612) 9326 1588. Fax: (612) 9326 1305. By Post: 162 Queen Street, Woollahra NSW 2025 Australia PADDLE BIDDING To assist the progress of the sale, all intending buyers must register and collect a bidding paddle/card before the commencement of the sale. All intending buyers should bring with them some means of identification. The numbered paddle/card must be used to indicate your bids to the auctioneer during the sale. Should you be the successful buyer of any lot, please ensure that your bidding paddle/card can be seen by the auctioneer and that it is your number which is called out. Should there be any doubts as to price or buyer, please draw the auctioneer’s attention to it immediately. All lots sold will be invoiced to the name and address given against the issue of the numbered bidding paddles/cards and cannot be transferred to other names and addresses. Please do not mislay your paddle/card; in the event of loss, inform staff at the registration desk. This system does not apply to absentee bidders – i.e. bidders who have left bids with the auctioneer prior to the sale. CONSECUTIVE AND SUCCESSIVE BIDDING The auctioneer may open the bidding on any lot by placing a bid on behalf of the seller. The auctioneer may further bid on behalf of the seller, up to the amount of the reserve, by placing responsive or consecutive bids for a lot. SUCCESSFUL BIDS Successful bidders receive an invoice detailing purchases, which may be collected from the sale venue or Shapiro Auctioneers’ office following the auction (please contact Shapiro Auctioneers’ offices to confirm collection point). Successful commission bidders are advised as soon as possible after the sale and given instructions regarding payment and collection of purchases. BIDDING INCREMENTS GUIDELINES The following bidding intervals are generally used subject to the auctioneer’s full discretion. Postal and commission bids that do not conform with these intervals may be lowered to the next bidding interval: $A 500-1 000 by $A 50 $A1 000-2 000 by $A 100 $A 2 000-5 000 by $A 200 $A 5 000-10 000 by $A 500 $A 10 000-20 000 by $A 1 000 $A 20 000-50 000 by $A 2 000 $A 50 000 onwards at auctioneer’s discretion. CHALLENGES TO BIDDING INCREMENTS Challenges are occasionally made to the bidding increment suggested by the auctioneer. For example, if the auctioneer calls for a bid of $A 3 200, the maximum that a bidder may wish to bids $A 3 100. The auctioneer may accept or decline any challenge to the bidding increment as he/she, in their sole discretion, shall determine. However, the general rule is that, to maintain the pace of the sale, the auctioneer will accept a single challenge from one bidder. Thereafter, for that lot, the bidder who challenged the increment will not have his bid recognized. Any bidder, at any time, may call out a bid exceeding the sum asked for by the auctioneer, and continue to bid thereafter. GST is also payable on the hammer price of any lot indicated in the catalogue or saleroom notices with a †, or any lot as announced by the auctioneer on sale nights. PAYMENT OPTIONS Cash, or Bank Draft in Australian currency payable to Shapiro Auctioneers. Direct Deposit or International Bank Transfer (EFT, TT): ACCOUNT NAME: SHAPIRO AUCTIONEERS WESTPAC BANK: 345 Oxford Street, Paddington, NSW, 2021 BRANCH: 032 040 ACCOUNT:208996 SWIFT CODE: WPACAU2S (international use only) Note: Please fax through deposit slip or transfer documentation after completion as the bank will not notify us of the payment. Credit Card (Amex, Visa and Mastercard), Please note, this service is subject to a 2% surcharge on the invoice total (plus GST). or Eftpos. COLLECTIONS Items will NOT be available for collection during the auction. Deliveries will be available afterwards, time permitting. If you have not collected, or notified us of your collection arrangements by this time, access thereafter will be limited, and will be arranged by appointment only. Collections and deliveries are to be arranged by the purchaser. Recommended carriers are noted below but purchasers are free to make arrangements with their preferred carriers. Please confirm all 3rd party collection arrangements to departmental staff on 9326 1588. RECOMMENDED CARRIERS INTERNATIONAL SHIPPING International Art Services www.iasdas.com.au tel +612 9667 1077 Matzen Cargo www.matzencargo.com tel +612 9316 4482 Pack & Send email bondijunction@packsend.com.au FURNITURE - LOCAL Local A&A Smart Move Removals, 0402 404 616, 9665 3582 Local Michael Montgomery, MTM Movers 0412 258 458 Local Hardwick Removals, 0414 362 163 Syd-Blue Mtns Milestone Movers, Stephen Weiley, 1300 788 810 SMALLER CARRIERS Local A&A Smart Move Removals, 0402 404 616, 9665 3582 Local Peter Firmager, Get Moving, 0411 046 796 Local Chris Gane, Chequers, 0411 110 351 Local Grant, East Sydney Taxi Trucks, 0417 242 908 Local Roger Saliba, Double Removals, 0419 418 777 FURNITURE - INTERSTATE Melb Geoff Yates, High Country Removals, 0418 347 628 Brisb/Melb Milestone Movers, Stephen Weiley, 1300 788 810 WA Eric Bilston Removals, 08 9353 6100 QLD Caloundra Removals, 07 5493 8811 SA Aarons Removals, 08 8268 9945 PAINTINGS Local and all States Artwook Transport 9695 1471 Local and all states International Art Services, 9667 1077 Local, Melb, SA Woollahra Art Removals, 9669 2688 Local TED Fine Art, 9666 5225 Local Burchall Art Transport, 9417 5119 SMALLER CARRIERS Local SmArtshift, 0412 734 349 Local A&A Smart Move Removals, 0402 404 616, 9665 3582

Local Taxes Apply