L&H 2015 Spring Auction

Notice to Bidders BUYER'S PREMIUM There is a Buyer's Premium of 18% for floor bidders, telephone bidders and email and/or fax bidders. There is a Buyer Premium of 21% for internet bidders that the bid is submitted through www.liveauctioneers.com. REFERENCE OF PROPERTY CONDITION All items are offered 'AS IS'. There is no return privilege, and all sales are final. L&H Auction Co., Ltd. (Hereinafter called 'L&H Auction') has sought to express a useful general guide to the condition of each Lot. Bidders should note that our descriptions in this catalogue cannot be taken as an absolutely definitive and complete describe of any damage or restoration. The absence of defect or restoration reference does not imply that a Lot is free from defects. The description of a Lot and condition of it is given for reference only and the condition of any Lot, and the nature and extent of any damage or restoration have not been confirmed by any examination prior to the Auction. In terms of functionality, common sense should prevail. One should assume that many of the Lots have seen little recent use, and therefore, have not recently been cleaned, lubricated, or adjusted. This means that some Lots, especially older cameras, might have shutter speeds and/or light meters that might require adjustment and that lenses and the optical items might require lubrication and/or cleansing. GUIDE TO RATINGS OF CONDITION The ratings of condition are personal opinions for general guidance purpose. It only reflects the overall condition of a Lot and some defects may not be described or mentioned in the Lot text. A+ Brand New A Like New. No significant signs of use A- Very good condition with insignificant signs of use B+ Signs of use B Visible signs of use B- Average condition. Signs of normal use C+ Well used, but working all right C Below normal used condition C- Heavily used L&H Auction shall not be liable to any party in any circumstance that they rely on the rating of condition to make any bidding decision. ESTIMATES & RESERVES All estimates in the catalogue are in Hong Kong Dollars (HKD). The estimate does not take into account the Buyer's Premium. Estimates are prepared well in advance of the Auction sale and are subject to revision. Estimate is not definitive and meant only to represent general guideline of a Lot that it is likely to fall into; they should not be relied on as an indication of the actual selling price or value of a Lot. Every item in the auction has a private Reserve Price. Offers under the Reserve Price would not be taken into account. Terms and Conditions of Sale The Following provisions constitute the entire agreement between L&H Auction Co., Ltd. (Hereinafter called 'L&H Auction'), the Consignor, and the Buyer, and will govern the sale of property sold through live and internet bidding at the Auction to be conducted at Grand Hyatt Hotel on 3 May, 2014 and on line at www.liveauctioneers.com. 1. BUYER'S COMMISSION Floor bidders, telephone bidders and email and/or fax bidders will pay to L&H Auction a Buyer's Premium of 18% on top of the winning bid price. Internet bidders will pay a Buyer's Premium of 21% on top of the winning bid price. 2. CONDITION OF LOT All Lots are sold to Buyer on 'AS IS' basis, with all defects and imperfection, without warranty or guaranty of any kind. L&H Auction explicitly draws your attention to the fact that the property is offered as collector's items and that the sales of them gives rise to neither warranty nor responsibility for any visible or invisible defects whatsoever. L&H Auction has taken all reasonable care to describe the condition of the Lots in the catalogue as accurate as possible. The rating of condition and description of a Lot is given by the experts of L&H Auction at their best knowledge. However, they should not be relied on as full description of a Lot's condition. All bidders must rely solely on their own knowledge and inspection before bidding to determine such issues as age, quality, character, physical condition, mechanical and electrical function and rarity. 3. VIEWING All Lots are available for inspection prior to the Auction by appointment. Representative of L&H Auction will attempt to answer questions related to the Lots. 4. WITHDRAWAL OF LOT L&H Auction and Consignor reserve, in their unfettered discretion, the right to withdraw any item from Auction before sale. 5. BIDS, REJECTION AND RESERVES The Buyer will be the bidder who makes the highest bid acceptable to the Auctioneer for any Lot (subject to any applicable reserve) to whom the Lot is knocked down by the Auctioneer at the striking of the Auctioneer's hammer. Any dispute regarding the highest acceptable bid will be settled by the Auctioneer in his/her discretion. The hammer price is the net purchase price, excluding the Buyer's Premium and other possible additional charges stipulated in section 9 and section 10 of this Terms and Conditions of Sales. Each item has a Private Reserve Price. The Auctioneer has complete discretion to refuse any opening bid that deem too low and withdraw a Lot from sale. During the course of bidding the Auctioneer may reject any increment as being too low at his/her sole discretion. 6. BIDDING BY POST, FAX, E-MAIL OR TELEPHONE L&H Auction is pleased to make commission bids on your behalf. Catalogue, registration form and bid form(s) as well as additional information in relation to this auction can be downloaded from our website. Registration form and bidding form(s) must be fully completed and signed by you for any bidding by post, fax, email or telephone. The form must be received by us at least 24 hours prior to the Auction started; failure to do this may result in your bid not being placed. Written acknowledgement of your bidding form(s) being received will be sent to you in order to confirm your bidding instruction has been properly received. Please note that all bids will be executed at the lowest possible price consistent with this Terms and Conditions of Sale. It is in bidders' interest to return your form as soon as possible, as if two or more bidders submit identical bid for a Lot, the first bid received takes preference. Telephone bidder will be called by L&H Auction before bidding starts on relevant Lot(s). However, there is no guarantee that telephone connection can be made successfully. Such bids are made at your own risk and we shall not be liable for any failure to receive and/or place any bids by post, fax, e-mail or telephone. 7. INTERNET BIDDING Please visit www.liveauctioneers.com/help/bidders/ for details of how to bid via the internet. You may register there for biding before the Auction. Internet bidders pay a Buyer's Premium of 21%. 8. POSSESSION, TITLE AND RISK OF LOSS Buyer will receive possession of the property only when payment has made in full and all funds have cleared. Title and risk of loss will pass to the Buyer when the Buyer has taken possession of the property. 9. SHIPPING Buyer bears all transportation and shipping cost. L&H Auction packs and ships Lot(s) as a courtesy to the Buyer; L&H Auction does not bear any responsibility or liability for any damage or loss during transportation or shipment. However, L&H Auction will buy insurance on all shipments on behalf of the Buyer as agreed in written. Buyer is charged at the direct cost of shipping and insurance plus a modest additional fee for packaging and handling. It is the Buyer's sole responsibility to comply with all Hong Kong export and overseas import regulations relating to the shipment and also to obtain any relevant export and/or import license(s). 10. TERMS OF PAYMENT AND REMEDIES Buyer agrees to pay the knocked down price of a Lot and Buyer's Premium within five (5) days of the Auction conducted. Payment must be made in Hong Kong Dollars (HKD) and be made in any one of the following: cash, check, credit card, debit card, bank draft or bank wire transfer. Please note that credit card payment has a 3% surcharge on the total invoice value when payments are made using credit cards. It may be advisable to notify your card issuer of your intended payment in advance to avoid delays caused by us having to seek authority when you come to pay. Purchased property will not be released to the Buyer until payment in full has cleared. In the event Buyer fails to pay for the property within five (5) days of the Auction conducted, L&H Auction may in its sole discretion and in addition and without prejudice to any other right or remedy available to it in law or equity, exercise one or more of the following rights and remedies: a. Bring an action against Buyer seeking damages for breach of contract including court costs and attorney's fees. b. Rescind the sale of the property or any other lot sold to the Buyer. c. Resell the property at auction or private sale and bring an action to recover any deficiency between (i) full amount owed by Buyer plus court costs and attorney's fees and (ii) the net proceeds, after payment of all expenses, received from the resale. If there is a surplus, the surplus will be paid to Consignor. d. Store the property and release it to Buyer only upon payment of the full purchase price and Buyer's Premium plus all direct and indirect costs of storage. e. To charge interest at 18% per annum commencing immediately after failing to pay on time. f. To retain any other Lot(s) sold to the Buyer at Auction. 11. LIMITATION OF LIABILITY A) In any circumstances where L&H Auction or Consignor's liability to a Buyer shall not exceed the purchase price actually paid. B) L&H Auction acts solely for and in the interest of Consignors. L&H Auction will sell the Lot at the highest price obtainable at the sale. L&H Auction does not give advice to bidders for their bidding. L&H Auction will have no liability for any branch by either Consignors or Buyers. C) L&H Auction takes no responsibility for any mistakes, errors or omissions. All information in this catalogue is compiled solely for the Auction; L&H Auction shall not be liable in any circumstance for further use of information provided in this catalogue. Reproduction of all or any part(s) of this catalogue is not allowed without written permission from L&H Auction. 12. TERMS OF ADHESION By bidding at the Auction, the bidder acknowledges and agrees that: A) Notice to Bidder and Terms and Conditions of Sale will represent the entire agreement of the parties, provided that the terms may be altered by L&H Auction prior to or at the time of Auction by oral or written announcement or posted notice. B) All transactions to which the Notice to Bidder and Terms and Conditions of Sale applied and all connected matters will be governed by and in construed in accordance with the laws of Hong Kong SAR. C) Notice to Bidder and Terms and Conditions of Sale are published in both Chinese and English. If there is any dispute in its interpretation, the English version will prevail.