COLLECTION OF RUSSIAN WORKS OF ART AND ICONS

1.Most items auctioned are of considerable age and may exhibit wear, usage, repairs and damage. Therefore, all lots are sold ?AS 1S? except for the 60-date limited warranty contained herein and referred to in Paragraph 9 below, and neither the Auctioneer nor the Consignor makes any warranties , as to the title, merchantability, fitness, or condition with respect to such lots. All statements contained in the catalog or in any bill of sale, invoice, or elsewhere as to authorship, period , source of origin, measurement, quality, rarity, provenance, exhibition and literature references, or physical condition are qualified statements of opinion and not representations or warranties. Auctioneer and the Consignor are not responsible for errors or omissions in the catalogue or any supplemental material. 2.Auctioneer reserves the right to withdraw any property before the sale and shall have no liability whatsoever for withdrawal of property. 3.Auctioneer reserves the right to reject any bid. The highest bidder acknowledged by Auctioneer will be the Buyer. In the event of a dispute between bidders, Auctioneer has final discretion to determine the successful bidder. 4.On the fall of the Auctioneer?s hammer, title to the offered lot will pass to the highest bidder acknowledged by Auctioneer, and such bidder thereupon assumes full risk and responsibility and will pay the full purchase price plus Buyer?s Premium and any applicable fees (such as sales tax, storage and shipping) IMMEDIATELY upon receipt of invoice. 5.A Buyer?s Premium of 15 % of the successful bid price will be added to the purchase price and is payable by the Buyer as part of the total purchase price. 6.If any applicable conditions herein are not complied with by the Buyer, in addition to other remedies available to Auctioneer and the Consignor by law, including without limitation the right to hold the Buyer liable for the total purchase price, Auctioneer at his option may either (a) cancel the sale, retaining as liquidated damages all payments (including deposits) made by the Buyer or (b) resell the property either privately or at public auction in either event the Buyer will be liable for any deficiency in the purchase price & all costs & expenses, including: storage fees, handling charges, the expenses of both sales & commissions on both sales at Auctioneer?s regular rates, all other charges due hereunder, including attorney fees & incidental damages. In addition, Auctioneer may retain as collateral security for such Buyer?s obligations to use, any property, in Auctioneer?s possession owned by such Buyer. 7.Auctioneer warrants the authorship of a lot only for a period of sixty (60) days from date of sale (not date of receipt) of such lot and only to the original Buyer of record at the auction. Upon being notified in writing within the sixty (60) day limited warranty period, if it is determined to Auctioneer?s satisfaction that the authorship is incorrect, the sale will be rescinded provided that the lot is returned to Auctioneer in the same condition in which it was at the time of sale. Auctioneer shall have the right to have the Buyer obtain, at the Buyer?s expense, the opinion of two recognized experts in the field, mutually acceptable to Auctioneer and Buyer, before Auctioneer determines whether to rescind a sale under this limited warranty. If requested, Auctioneer will provide Buyer with the names of acceptable recognized experts. Buyer is advised that said lot should be inspected by him or herself or his or her agents to his or her own level of satisfaction prior to bidding and purchase. 8.Prospective buyers must complete and sign a registration form with his or her name and permanent address, and provide identification before bidding. Auctioneer may require the production of bank details from which payment will be made or other financial references. 9.Absentee Bids must be placed in the currency of the place of the sale. If Auctioneer receive written bids on a particular lot for identical amounts, and at the auction these are the highest bids on the lot, it will be sold to the person whose written bid was received and accepted first. Execution of written bids is a free service undertaken subject to other commitments at the time of the sale and provided that Auctioneer have exercised reasonable care in the handling of written bids, the volume of goods is such that we cannot accept liability in any individual instance for failing to execute a written bid or for errors and omissions in connection with it arising from circumstances beyond our reasonable control. 10.If a prospective buyer makes arrangements with Auctioneer prior to the commencement of the sale Auctioneer will use reasonable efforts to contact them to enable them to participate in the bidding by telephone but he do not accept liability for failure to do so or for errors and omissions in connection with telephone bidding arising from circumstances beyond our reasonable control. 11.Where purchases are not collected within 60 calendar days from the date of the sale, whether or not payment has been made, Auctioneer shall be permitted to remove the property to a third party warehouse at the buyer?s expense, and only release the items after payment in full has been made of removal, storage, handling, and any other costs reasonably incurred, together with payment of all other amounts due to us.