All Of items are final sale, and sold as is, where is, with inspection of the item being the responsibility of the bidder. Please be aware that your bid is a contract that is to be honored by both parties, DO NOT BID IF YOU DO NOT INTEND TO PURCHASE.
1. Some of the lots in this sale are offered subject to a reserve. The reserve is a confidential minimum price agreed upon by the consignor and China Luban below which the lot will not be sold. In most cases, the reserve will be set below the estimated range, but in no case will it exceed the estimates listed. A representative of China Luban will execute such reserves by bidding for the consignor. In any event and whether or not a lot is subject to a reserve, the auctioneer may reject any bid or raise not commensurate with the value of such lot.
2. All property is sold ?as is,? and neither the auctioneer nor any consignor makes any warranties or representation of any kind or nature with respect to the property, and in no event shall they be responsible for the correctness, nor deemed to have made any representation or warranty, of description, genuineness, authorship, attribution, provenance, period, culture, source, origin, or condition of the property and no statement made at the sale, or in the bill of sale, or invoice or elsewhere shall be deemed such a warranty of representation or an assumption of liability.
3. Except as provided in paragraph 1 above, the highest bidder as determined by the auctioneer shall be the purchaser. In the case of a disputed bid, the auctioneer shall have sole discretion in determining the purchaser and may also, at his or her election, withdraw the lot or reoffer the lot for sale. The auctioneer shall have sole discretion to refuse any bid, or refuse to acknowledge any bidder. Any bidder that plans on spending in excess of $100,000 should make arrangements with the accounting department at least five (5) days in advance of the sale, as a deposit may be required to participate.
4. All merchandise purchased must be paid for and removed from the premises the day of the auction. China Luban may impose, and the purchaser agrees to pay, a monthly interest charge of 1.5% of the purchase price of any lot or item lot not paid for within thirty-five (35) days of the date of sale.
5. China Luban shall have no liability for any damage or loss to property left on its premises for more than Seven (7) days from the date of sale. If any property has not been removed within Seven (7) days from the date of sale, at the option of China Luban may impose, and the purchaser agrees to pay, a monthly storage charge of 1.5% of the purchase price of any lot or portion of a lot not removed within the Seven days, and/or China Luban (. may place the merchandise in a subsequent auction, without Reserve, to be sold to the highest bidder, and after deducting the standard commission and any additional charges that may apply, remit the proceeds to the purchaser.
6. If the purchaser breaches any of its obligations under these Conditions of Sale, including its obligation to pay in full the purchase price of all items for which it was the highest successful bidder, China Luban may exercise all of its rights and remedies under the law including, without limitation, (a) canceling the sale and applying any payments made by the purchaser to the damages caused by the purchaser?s breach, and/or (b) offering at public auction, without reserve, any lot or item for which the purchaser has breached any of its obligations, including its obligation to pay in full the purchase price, holding the purchaser liable for any deficiency plus all costs of sale.
7. In no event will the liability of China Luban to any purchaser with respect to any item exceed the purchase price actually paid by such purchaser for such item.
8. A premium equal to 23% of the final bid price up to and including $100,000, plus 20% of the final bid price from $100,001 up to and including $1,000,000, plus 12% of the final bid price from $1,000,001 and over will be applied to each lot sold, to be paid by the buyer as part of the purchase price.
9. Bidding on any item indicates your acceptance of these terms and all other terms printed within, posted, and announced at the time of sale whether bidding in person, through a representative, by phone, by Internet, or other absentee bid.
10. China Luban and its consignors make no warranty or representation, express or implied, that the purchaser will acquire any copyright or reproduction rights to any lot sold. China Luban expressly reserves the right to reproduce any image of the lots sold in this catalog. The copyright in all images, illustrations and written material produced by or for China Luban relating to a lot, including the contents of this catalog, is, and shall remain at all times, the property of China luban and shall not be used by the purchaser, nor by anyone else, without our prior written consent.
11. These conditions of sale shall be governed by the laws of the Commonwealth of Maryland (excluding the laws applicable to conflicts or choice of law). The buyer/bidder agrees that any suit for the enforcement of this agreement may be brought, and any action against China Luban in connection with the transactions contemplated by this agreement shall be brought, in the courts of the Commonwealth of Maryland or any federal court sitting therein. The bidder/buyer consents to the nonexclusive jurisdiction of such courts and waives objections that it may now or hereafter have to the venue of any such suit.