Chinese Paintings from European Collectors

BUYERS CONDITIONS 1. Bids The highest accepted bid shall be the purchaser. Anyone wishing to participate in the bidding (bidders) should apply in advance to IVY?s customer services office for a paddle with a bidder number. The auctioneer is entitled to ignore a bid from a particular bidder and to determine whether bidding shall be resumed after the hammer has fallen on a bid owing to uncertainty concerning for instance the last bid made. The auctioneer is also entitled to determine the increment by which a bid must be raised to be considered a new bid. Both bidding and payment for lots bought shall be made in pounds sterling. 2. Absentee bids and telephone bidding IVY undertakes commission bidding assignments (absentee bids). Such assignments should be submitted to IVY?s customer services office or faxed no later than two hours before the auction starts. Bids received later will not be taken into account. When submitting a commission bidding/ telephone bidding assignment, proof of identity shall be produced/ attached. IVY is entitled to decline an assignment if it considers that the client may be unable to pay for the bids made. Bidders who wish to participate per telephone shall give notice of this to the customer services office no later than 5 pm on the day before the auction. Telephone bidders undertake to bid at least for the lowest estimate price of the lot. The customer services office will deal with the commission bidding assignment confidentially and place the most favourable bid possible on behalf of the client. In the case of identical bids, the first bid submitted has priority for the purchase. IVY is not responsible for damage that may be caused to the client if the customer services office or telephone bidder fails to perform the assignment. The client is responsible for purchases that are registered owing to an unclear or erroneous commission bidding assignment. 3. Purchase The Purchaser is the party who has placed the highest bid, upon which a binding contract arises between the bidder and IVY. In the event of identical bids and other disputes that may arise in the course of the bidding, the auctioneer shall solely and finally decide which bid shall be deemed to have priority for the purchase. The purchaser shall give his name and place of abode at the fall of the hammer. Purchasers paying by cheque must be prepared, if required, to produce a letter of credit from their banks. The ownership of the Lot purchased shall not pass to the buyer until he has made payment in full to ?IVY AUCTIONS LTD? of the ?Total amount due?. The Auctioneers are to be the sole arbitrators in every matter of dispute and their decision shall be final. 4. Purchase fees VAT - If the Vendor is registered for VAT the Lots entered will be sold as VAT inclusive. A Vendor is not deemed to be registered for VAT unless he informed us of their VAT Registration Number. THERE IS A BUYERS PREMIUM OF 20% PLUS VAT which shall be payable in addition to the bid price. Please note that any lots purchased via the-saleroom.com and Liveauctioneers.com live auction service will be subject to an additional 3% commission charge + VAT at the rate imposed on the hammer price. 5. Results It is an obligation of the Purchaser to check whether the commission bidding assignment has resulted in a purchase. The result of the auction can be obtained by telephone, +44(0)2074091047, or via the Internet, http://www.ivyauctions.co.uk. Purchasers receive payment instructions with their invoice, which is mailed immediately after the sale. 6. Payment Payment should be sent to by IVY and cleared no later than seven (7) working days after the auction. Payment can be made by a bank card or cash at IVY?s cash desk or, alternatively, via IVY?s bank or postal giro account. If payment is not made in time according to the above, IVY is entitled to implement one or more of the following measures: ?Revoke the sale ?Demand payment ?Charge interest for delay of 2% per month until payment is made. ?Resell the lot on behalf of the Purchaser without any special notice to the Purchaser. IVY has a full and unrestricted right to determine the estimate and whether the object should be assigned a reserve price. IVY is entitled to deduct, from the proceeds of sale received, compensation for all claims that IVY has in relation to the Purchaser. 7. Collection Lots purchased can be collected as soon as full payment has been made to and cleared by IVY. The lot shall be collected within seven (7) working days after the auction. For Lots that have not been collected within the above- mentioned time, a storage fee of £5 per calendar day and lot is chargeable. A doubled fee will be charged for furniture and/ or bulky lots. IVY?s responsibility for care of the lots ceases if collection is not made in time according to the above. For lots that are not collected within 7 working days after the purchase, IVY is entitled to transfer lots to warehouse of any forwarding company. All transport and storage costs will be charged to the purchaser. 8. Liability for faults All lots are sold as found. It is an obligation of the Purchaser to conduct his/ her own inspection of the lot before the date of the auction to assess the condition and nature of the lot. IVY is not liable under any circumstances for any natural wear and tear, minor damage and defects such as, for instance, any stretching of canvases, condition of frames, natural changes to organic material, such as fading of paper and formation of cracks in wood, or other equivalent forms of damage to the lot. Clocks and clockworks are sold as works of art and IVY is not responsible for their technical function as timepieces. IVY is responsible for information in catalogues regarding the originator of a lot correctly reflecting the generally accepted opinion prevailing at the time the catalogue is printed. Depiction in catalogues and on the Internet is only permitted for the purpose of identification. IVY is not responsible for damage and inadequacies that are not indicated by such depiction. Any complaints of faults should be forwarded in writing immediately after the Purchaser has noticed (or ought to have noticed) the fault, though no later than ten (10) working days after the date of the auction. However, complaints regarding the provenance of the object must be made within two (2) years from the date of the auction.