Fine Asian Works of Art Auctions

1. Shuma's Auction Co., Ltd. services are provided upon the following terms and conditions, and by participating in an Auction you are deemed to have accepted these terms and conditions in their entirety. 2. Our services are available only to those who can form legally binding contracts under applicable law. Our services are not available to minors. 3. Auctions will be subject to a buyer's premium (unless otherwise noted). Buyers Premium is 20% (18%) of the first $5,000 of the bid price, 18% (15%) of the amount of the bid price above $5,000 up to and including $100,000 and 15% (12%) of the amount of the bid price over $100,000. % in the ( ) is for V.I.P. members. V.I.P. Membership must be acquired before the auction in order to be eligible for such buyer's premium. 4. Unless otherwise announced, all bids are per lot as numbered in the catalog. 5. Online bidding during an Auction is a fast process, and therefore there is no confirmation given - bids will be taken immediately and are irrevocable. 6. Shuma's Auction Co., Ltd. will not be responsible for technical problems resulting in your telephone or online bid not reaching us in a timely manner; no bid received after the auction ends will be considered for any reason. 7. As a convenience to our clients, we furnish pre-sale estimates for all lots included in the auctions. These estimates are only our approximate valuations and should be taken as educated guess based upon comparable auction values, not as "prices". The final bid price may well be less than or more than any estimates. 8. The highest bidder shall be the purchaser (herein referred to the Purchaser) upon the completion of bid verification. Bid verification will commence upon the conclusion of a live auction and may last 24 hours. All Purchasers shall be notified by email within the 24-hour bid verification period. 9. No bidder shall retract their bid. In the event of a dispute between two or more bidders, the decision of Shuma's Auction Co., Ltd. will be final decision. 10. A bidder is deemed to have accepted an item when making a bid. 11. Absentee and Telephone bids are executed by a designated Shuma's Auction Co., Ltd. employee. All such bids will be executed at the lowest price taking into account the reserve price and other bids. If two or more parties have entered matching bids, the first bid received shall take preference. Arrangements for telephone bidding must be confirmed in advance. Shuma's Auction Co., Ltd. assumes no responsibility for failure to execute absentee bids or telephone bids on behalf of the prospective buyer for any reason whatsoever. 12. Shuma's Auction Co., Ltd. reserves the right to withdraw any lot at any time prior to the time of sale of such lot. 13. Shuma's Auction Co., Ltd. reserves the right not to accept any bid that is only a partial advance over the preceding bid. 14. Shuma's Auction Co., Ltd. may break down or consolidate any lot or lots at its sole discretion. 15. The starting bid for any given lot is intended solely as a guide to prospective bidders. The actual starting bid will be determined by Shuma's Auction Co., Ltd. conducting the auction. 16. All sizes, weights and ages are approximate. 17. Except as set out herein, there shall be no warranties or guarantees expressed or implied, statutory or otherwise, of any nature. 18. Items are sold "As Is, Where Is" - catalogues are prepared only as a guide. No sale shall be invalidated by any reason or defect or inaccuracy of description in catalogue or otherwise, and no liability shall be borne by Shuma's Auction Co. Ltd. by virtue of any such fault or error. 19. All lots must be paid for by a certified check, money order, personal check, bank wire transfer or Paypal where acceptable within 7 days (5 business days) upon receipt of their email notification. 20. All applicable excise and sales taxes shall be added to the purchase price unless satisfactory proof of exemption is filed with the Shuma's Auction Co. Ltd. 21. The Purchaser is not entitled to possession until all items have been paid for in full. In the event that the purchase price is not paid within the prescribed time, Shuma's Auction Co. Ltd. shall have the right to resell such items in whatever manner it sees fit without notice to the purchaser. Any shortfall from such sale plus commission and expenses thereof shall be paid by the Purchaser. 22. All costs and responsibilities of removal shall be borne by the Purchaser within the time prescribed by Shuma's Auction Co., Ltd., who may require proof of adequate insurance from the Purchaser. The Purchaser herby indemnifies Shuma's Auction Co. Ltd. and the Consignor against any and all damages arising from the dismantling and removal of any lots. 23. Any lots paid for but not removed within the prescribed time shall be subject to storage, moving, disposal and service charges at the sole risk and expense of the Purchaser. All such lots shall be deemed abandoned and shall be subject to resale for the recovery of such charges. The Purchaser shall also be liable for any rent or damages sustained by Shuma's Auction Co., Ltd. for failure to remove any lot. 24. We pack small purchases ourselves. Larger, more difficult items will be packed professionally (by a reputable outside company selected by Shuma's Auction Co., Ltd.), insured and shipped to the address provided by the Purchaser at the time of registration for bidding unless the Purchaser has notified us of different shipping arrangements. A separate charge may appear on the Purchaser's credit card for packing, insurance and shipping. Shuma's Auction Co. Ltd. cannot accept cheques for packing, insurance and shipping. If you have purchased a large number of items and/or your shipment requires extraordinary handling, we will contact you before shipping. 25. The Purchaser is responsible to meet all customs/import-export regulations. Shuma's Auction Co. Ltd. will assist but cannot be held liable for international laws affecting the delivery of your items. 26. DELIVERY: PLEASE ALLOW APPROX. 2-4 WEEKS FROM THE TIME YOUR PAYMENT IS CLEARED BY US. Payment by credit card or other secure methods will expedite the shipping of your purchases. Items paid for by personal or business checks will be held for 3-30 days before processing by the shipping department. 27. Shipping cost includes Packing fees and the costs of Shipping Materials, such as bubble wrap, peanuts and corrugated boxes. INSURANCE costs will be US$2.00 per US$100.00 in value (based on the hammer price + the buyers premium). You may of course elect not to insure your items; in this case we will require you to sign a release absolving Shuma's Auction Co., Ltd. of any liability. FEDERAL EXPRESS or other shippers CHARGES will also be applied. 28. INTERNATIONAL BUYERS PLEASE NOTE: Some international shipping companies will provide insurance; however most common carriers will not make full restitution on damages or lost packages. It is our recommendation that you secure insurance on your end. We will not declare less than the full sale price on any paperwork. 29. If you use Paypal as your method of payment, the shipping address must be a confirmed address which means the same address as on the Paypal's file. 30. All buyers should inspect packages upon receipt of delivery and inform the shipping company to obtain the damage report and Shuma's Auction Co., Ltd. immediately if any damage was sustained. 31. If for any reason such as theft, breakage or other damage, Shuma's Auction Co., Ltd. is unable to deliver any or all of an awarded lot or title thereof, the sole liability of Shuma's Auction Co., Ltd. shall be the refund of any monies paid on the lot. 32. Shuma's Auction Co., Ltd. offers a one-year return policy if the item is proven to be a fake or a reproduction. Proof that the item is a fake or a reproduction must be given by letters from two different recognized experts, accepted by Shuma's Auction Co., Ltd. If the item or its provenance has been materially misrepresented by the seller, the buyer will have a three day period after the buyer receives the item to request a refund from Shuma's Auction Co., Ltd. Late requests for a refund will not be considered. Please note that a difference in the colour of an item from what is shown in the catalogue or online is not an acceptable reason for return. All returns must be agreed to by Shuma's Auction Co., Ltd. prior to return of the item, and final discretion to accept any item for a refund rests with Shuma's Auction Co., Ltd. 33. The copyright in the text of the catalog and the photographs, digital images and illustrations of lots in the catalog belong to Shuma's Auction Co., Ltd or its licensors. You will not reproduce or permit anyone else to reproduce such text, photographs, digital images or illustrations without our prior written consent. Shuma's Auction Co., Ltd. reserves the right to publish any or all prices realized and to reproduce photographically, any items Shuma's Auction Co. Ltd. photographed and received for auction.

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