ARMS & ASIAN WORKS OF ART

TERMS AND CONDITIONS HIGHLIGHT OF TERMS AND CONDITIONS OF SALE Quick points to keep in mind. Detailed terms are below: I.By bidding you are entering into a legal contract, please take this seriously. II. Please ask questions about items before you bid, all items are sold as is/ where is. III. Our terms are very clearly listed and are non negotiable please take the time to read them as they are legally binding. IV.There are absolutely no returns on any items for any reason** V. For items purchased via in person, phone or absentee bidding, your credit card will be charged the day after the auction. If other payment arrangements have been made and good funds have not been received by the 7th business day after the auction, your credit card will be charged. If you are unable to do this, please do not bid with us. Invoices not paid within seven (7) days will be treated as "non-paying bidders" and immediately reported to liveauctioneers and legal action will be taken. No exceptions. VI. Due to the increasing numbers of nonpaying customers, starting from December 2012 Auction, all bidders are required to submit a credit card and government issued identification for the registration and bidding approval purposes, and the credit card will be charged for the invoice amount the day after the auction for all winning bidders. VII. If a deposit has been requested, the deposit will be used as payment towards the invoice for winning bids. If the bids are not successful, only then will the deposit be refunded. TERMS AND CONDITIONS OF SALE 1. Unless otherwise indicated, all Property will be offered by Wichita Auctioneer's as agent for Consignor. 2. Wichita Auctioneer's reserves the right to vary the terms of sale and any such variance shall become part of these Conditions of Sale. 3. All items are sold AS IS, WHERE IS with all faults. There are no warranties or representations of merchantability, of fitness, nor of any other kind, express or implied. All items are available for your examination prior to bidding. Written and oral descriptions are our opinions and should in no way be construed as a guarantee of any kind as to authenticity, age, condition, materials or any other feature of items being sold. Wichita Auctioneers attempts to catalog every lot correctly and will attempt to point out any defects but will not be responsible or liable for the correctness of the catalog or other descriptions of the lot. We recommend prospective bidders examine all items in which they have an interest. By placing a bid, either in person, by phone, absentee or via the Internet, you signify that you have examined the items as fully as you desire to or that you have chosen not to examine them. If you require absolute certainty in all areas of authenticity, and the results of your evaluation leave uncertainty in your mind, we recommend you have an expert examine the lot for you or do not bid on the item in question. If your item(s) are damaged in shipping, you will need to contact the shipper to file a claim. If your item(s) are being shipped and there is a condition problem upon receipt, you are expected to notify us immediately by phone at 212-221-3700. Any condition concerns will be null and void after the 10th business day following the end of the auction. Please note that if you pay late and thus receive your item(s) late, this does not qualify you for special privileges. We do not give refunds! All sales are final! 4. All property is sold AS IS, WHERE IS and neither Wichita Auctioneers nor the consignor makes any warranties or representations of any kind or nature with respect to property or its value, and in no event shall be responsible for the correctness of description, genuineness, attribution, provenance, authenticity, authorship, completeness, condition of property or estimate of value. We do not guarantee authorship or signatures of paintings. Oil paintings No statement (oral or written) in this catalog, at the sale, or elsewhere shall be deemed such a warranty or representation, or any assumption of responsibility. All measurements are approximate. 5. The highest bidder acknowledged by the auctioneer shall be the buyer. The auctioneer has the right to reject any bid, to advance the bidding at this absolute discretion and in the event of any dispute between bidders, the auctioneer shall have the sole and final discretion either to determine the successful bidder or to re-offer and resell the article in dispute. If any dispute arises after sale, the Wichita Auctioneer's sale record shall be conclusive in all respects. 6. If the auctioneer determines that any opening or later bid or any advance bid is not commensurate with the value of the Property offered, he may reject the same and withdraw the Property from sale. 7. Upon the fall of the hammer, title to any offered lot or article will immediately pass to the highest bidder as determined in the exclusive discretion of the auctioneer. Such bidder thereupon assumes full risk and responsibility for the property sold, agrees to sign any requested confirmation of purchase, and agrees to pay the full purchase price therefore or such part upon such terms as the Company may require. All property shall be paid for and removed by the purchaser at his/her expense within seven (7) days of sale and, if not so removed, may be sold by the Company, or sent by the Company to a public warehouse, at the sole risk and charge of the purchaser(s), and the Company may prohibit the purchaser from participating, directly or indirectly, as a bidder or purchaser in any future sale or sales. The Company will not be responsible for any loss, damage, theft, or otherwise responsible for any goods left in the Company's possession after seven (7) days. If the foregoing conditions or any applicable provisions of law are not complied with, in addition to other remedies available to the Company and the Consignor (including without limitation the right to hold the purchaser(s) liable for the bid price) the Company, at its option, may either cancel the sale, retaining as liquidated damages all payments made by the purchaser(s), or resell the property. In such event, the purchaser(s) shall remain liable for any deficiency in the original purchase price and will also be responsible for all costs, including warehousing, the expense of the ultimate sale, and the Company's commission at its regular rates together with all related and incidental charges, including legal fees. Payment is a precondition to removal. Payment shall be by cash, certified check or similar bank draft, Visa or MasterCard or any other method approved by the Company. For credit cards issued out of the U.S, we accept no exceeding $5000 altogether per invoice. Checks will not be deemed to constitute payment until cleared. The Company will charge interest of one and one-half percent (1 1/2%) per month on any balance remaining thirty (30) days after the day of sale. Any exceptions must be made upon the Company's written approval of credit prior to sale. 8. Unless the sale is advertised and announced as "without reserve", each lot is offered subject to a reserve and the Company may implement such reserves by bidding through its representatives on behalf of the Consignors. In certain instances, the Consignor may pay less than the standard commission rate where the Company or its representative is a successful bidder on behalf of the Consignor. Where the Consignor is indebted to the Company, the Company may have an interest in the offered lots and the proceeds there from other than the broker's Commissions, and all sales are subject to any such interest. 9. No "buy" bids shall be accepted at any time for any purpose. 10. Any pre-sale bids must be left in writing with the Company prior to commencement of offer of the first lot of any sale. The Company's copy of any such bid shall conclusively be deemed to be the sole evidence of same, and the Company shall not be held responsible for any failure to execute any pre-sale bid. 11. A buyer's premium will be added to the successful bid price and is payable by the purchaser as part of the total purchase price. The buyer's premium is 22% of the successful bid price up to and including $20,000, 20 % between $20,001 and $500,000, and 18% on any amount in excess of $500,000. And there will be additional 3% buyer premium for internet live bid winner for LiveAuctioneers and additional 5% for Invaluable. 12. If any applicable conditions herein are not complied with by the purchaser, in addition to other remedies available to it by law, including without limitation the right to hold the purchaser liable for the total purchase price, Wichita Auctioneers at its option may either (a) cancel the sale, retaining as liquidated damages all payments made by the purchaser or (b) resell the property at public auction without reserve or minimum selling price, and the purchaser will be liable for any deficiency and costs, including handling charges, expenses of both sales, the commission on both sales at regular rates, all other charges due hereunder and incidental damages. 13. In the unlikely event that we lose our internet connection, Wichita Auctioneers reserves the right in its sole and absolute discretion to cancel the remainder of the auction. 14. These terms and conditions of sale, as well as the respective rights and obligations of Wichita Auctioneers and any purchasers or bidder at any sale of Wichita Auctioneers, shall be governed by and construed and enforced in accordance with the laws of the State of New York. 15. The auctioneer is licensed and regulated by the Department of Licensing and Regulation. License with the Department does not imply approval or endorsement by the State of New York. If you have an unresolved complaint, it should be directed to: New York City Consumer Affairs Department. ENDANGERED SPECIES AND CITES PERMITS The export of a lot from the United States or import into certain countries may be subject to export and import regulations, licensure and/or other restrictions; in particular, lots containing animal material such as ivory, rhinoceros horn, tortoise shell, coral or whalebone may require the granting of one or more export or import licenses or may banned from import altogether by some countries. Lots that contain these aforementioned materials may also not be eligible for exportation if they are not over one hundred years of age. It is the buyer?s responsibility to investigate any such restrictions and to obtain any relevant export or import licenses. Please note that this process is governed by local authorities and may take considerable time. Regardless of any delay in the obtaining of an export or import license or denial of license?s issuance, purchased lots shall be paid for in accordance with the Terms and Conditions, and any such delay or denial shall not serve as the basis for cancellation of any sale. Prospective buyers are advised to obtain information from the relevant regulatory authorities regarding export and import restrictions, requirements, and costs prior to bidding.