102 Fine Arts and Antiques

1. Participation in an Auction states the entire and unconditional acceptance of the Sale Conditions. 2. Bidders are required to read carefully the section of the Catalogue containing the purchase terms of the Lots for sale by the Gallery. 3. Aqua Art and Antiques LTD. (hereinafter: the Gallery) acts on behalf of the sellers of the items offered for auction through it (hereinafter: the Sale). The Gallery will produce for each sale a catalog (hereinafter: the Catalog) which will detail, among other things, the items offered for sale, their numbers and value estimations. 4. For the avoidance of doubt, all the data appearing in the catalog, including the estimations and descriptions of the items, and other data regarding them, are intended to be used for informational purposes only for the buyer and are not intended to be a representation on the part of the gallery and/or to impose on it and/or those acting on its behalf, liability of any kind . 5. The gallery will appoint a sales manager, who will be responsible on its behalf, among other things, for holding and managing the auction. 6. The sale will be conducted according to the order of the numbers appearing next to the items indicated in the catalog. 7. The sale manager will be entitled at any stage, at his absolute discretion, to add or remove an item from the sale, to add or omit in data in relation to the items offered for sale, according to information received in the gallery after the catalog is published. 8. "Hammer price" for the purpose of the auction means the amount stated as a bid by a buyer whose bid was accepted according to these conditions. 9. Immediately after the bow of the hammer and the announcement of the buyer by the sales manager, the buyer's offer will be considered accepted and the item presented for sale will become the property of that buyer who made the offer (hereinafter: the "winning buyer"), subject to the full fulfillment of his payment obligations according to this agreement. In the event of disagreements regarding the identity of the winning buyer, the decision rests with the sales manager to determine, at his absolute discretion, who the winner is or, alternatively, whether to put the item up for resale. 10. The buyer whose offer is accepted will pay the gallery, in addition to the hammer price, a commission at the rate of 30%. The full payment will be made immediately at the end of the sale and no later than the end of 5 business days from the date of receipt of the winning buyer's offer. 11. A buyer who does not settle a payment will be subject to fines in the form of an increased buyer's fee: a delay of one month from the day of the sale in settling the payment and collecting the items will increase the buyer's fee to: 35% and a delay of two months from the day of the sale will increase the buyer's fee to: 40% 12. Any delay in payment will result in arrears interest being charged on the amount due at a rate of 2% per month plus the differences in the US dollar exchange rate from the date it is supposed to be paid until the actual payment date. 13. Failure to pay the hammer price and/or the gallery fee will give the gallery the right to take any way it deems appropriate to protect the seller's rights, including delaying the purchased item, confiscation, and offsetting amounts. 14. It is clarified that some of the items offered for sale are subject to a minimum price determined between the seller and the gallery. 15. The gallery is responsible towards the buyer with the power to provide information regarding the creator of the item and/or who was inspired to create and/or design the item. 16. Without detracting from the above, it is hereby clarified that the information provided by the gallery is given in its capacity as an extension on behalf of the seller and is based on cumulative information and expert experience on its behalf. Every buyer must check during the presentation of the items to the public on the dates before the sale (hereinafter: the 'preliminary display'), the condition, size, origin, nature, and value of the item. 17. All items are sold 'as is' (as is), the sales manager is not responsible for the condition and quality of the item, what's more, due to the difficulty in defining the condition of the items for sale, the buyer of the item will be seen as the one who checked the condition of the item before selling it. 18. Without detracting from the aforementioned, the winning buyer has the right to obtain in writing from the gallery with regard to the origin of the item and/or the identity of its manufacturer, and this no later than 21 days from the date of sale. If it is proven to the gallery that there was indeed a mistake in the information provided regarding the item, the gallery will return to the winning buyer the amount paid against returning the item to its possession. 19. If 21 days have passed since the date of sale, no claim regarding the origin of the item or the identity of its manufacturer will be accepted. 20. The buyer is responsible to take possession of the item he purchased and complete his obligations for payment no later than 4 days from the date of sale. A delay in receiving the item will result in a charge for storage and insurance fees at a rate determined by the gallery. (A delay of more than a month in collecting the item will result in a charge of 10% of the account value for each month of delay or part of it in a corresponding ratio). 21. For the avoidance of doubt, delivery of possession of the item will be made only after the buyer has completed all his payment obligations. 22. For the avoidance of doubt, any act and/or omission in connection with such representation shall not impose any kind of liability on the gallery and/or those acting under its authority. 23. Customers who wish to participate during the sale by telephone, are requested to contact in advance and as soon as possible for coordination. 24. The sale manager reserves the right to prevent participation in the sale from people he is not interested in participating in. 25. Everything stated in this agreement is in the singular and even plural in its meaning and vice versa, and everything that is said in a person even in a corporation in its meaning and vice versa. 26. The competent courts in the city of Tel-Aviv-Jaffa are granted the sole and exclusive jurisdiction in any dispute concerning matters arising from and/or related to the purchase and/or delivery of the item between the gallery and the buyer. 27. The conditions detailed in this document include the agreement between the parties in full, on all the understandings, agreements, charges, and conditions between the parties. 28. Any change, amendment or addition to this contract will be made in writing, otherwise, they will have no effect. 29.All previous agreements between the parties are hereby cancelled.