MAY 09TH ASIAN ART AUCTION DAY 2

TERMS & CONDITIONS All property offered and sold ("property") through Etna Art Gallery Inc ("ETNA," "WE," "US") shall be offered and sold on the terms and conditions set forth below, which constitutes the complete statement of the terms and conditions on which all property is offered for sale. By bidding at the auction, whether present in person or by agent, by written bid, telephone, internet, or other means, the Buyer agrees to be bound by these terms and conditions. 1. ETNA reserves the right to vary the terms of sale, and any such variance shall become part of these Conditions of Sale. 2. REGISTRATION & BEFORE THE SALE (a) Before you can bid, you must register. Please note that you must be registered at least 24 hours before the start of any Sale, or you may not be able to bid in that sale. (b) All prospective bidders must complete and sign a registration form and provide identification before bidding. ALL NEW BIDDERS ARE REQUIRED TO SUBMIT A CREDIT CARD FOR THE REGISTRATION AND BIDDING APPROVAL PURPOSES, AND THE CREDIT CARD WILL BE CHARGED FOR THE INVOICE AMOUNT IF THE INVOICE IS NOT PAID WITHIN SEVEN (7) DAYS. A $500 DEPOSIT MAY BE REQUIRED IN ORDER TO APPROVE REGISTRATION. If the Bidder is successful in winning a Lot, the deposit will be applied toward the purchase price. If the Bidder is unsuccessful in winning a Lot, the deposit will be returned to the unsuccessful Bidder within 5-7 business days. You may call us at 302-487-0008 to pay over the phone or complete the credit card authorization form. (c) Telephone Bids- On lots with a low estimate of $500 or above. If a bidder makes arrangements with us before the sale's commencement, we will use reasonable efforts to contact them to enable them to participate in the bidding by telephone. We do not accept liability for failure to do so or for errors and omissions in connection with telephone bidding. Bids should be submitted at least 24 hours before the auction. We require a credit card on file to register for bidding and A security deposit of USD 1500 paid ahead of a sale. THE CREDIT CARD WILL BE CHARGED FOR THE INVOICE AMOUNT IF THE INVOICE IS NOT PAID WITHIN SEVEN (7) DAYS. If the Bidder is successful in winning a Lot, the deposit will be applied toward the purchase price. If the Bidder is unsuccessful in winning a Lot, the deposit will be returned to the unsuccessful Bidder within 5-7 business days. You may call us at 302-487-0008 to pay over the phone or complete the credit card authorization form. (d) Absentee Bids- As a service to those wishing to place bids, we may, at our discretion, accept bids without charge in advance of auction online or in writing on bidding forms available from us. "Buy" bids will not be accepted; all bids must state the highest bid price the bidder is willing to pay. Our auction staff will try to bid just as you obtain the item at the lowest bid price possible. In the event identical bids are submitted, the earliest bid submitted will take precedence. Absentee bids shall be executed in competition with other absentee bids, any applicable reserve, and bids from other auction participants. (e) Online Registration and Bidding Approval is done at the sole discretion of the auction house. We recommend that online bidders sign up at least three days in advance of the auction to allow for time to complete the approval process. We make no guarantees that new online bidders who register within 24 hours of the sale will be approved for bidding. After signing up to bid, new online bidders may receive a message requesting additional information; we cannot approve any client without the requested information. Parties who wish to bid on premium lots may be asked to submit a deposit by wire transfer. Correspondence between prospective clients and the Auction House must be established directly with ETNA through phone, fax, or relevant email addresses. We make no guarantee that we can respond to requests submitted through third party messaging systems. Due to the high volume of inquiries made within 24 hours of the sale, we make no guarantee that clients who contact us during this period will receive a response. Bids left on Online platform are not executed until the item is offered in the live auction; therefore, the order in which those bids are received is not a factor. We will make every effort within reason to accept and process bids from online participants. ETNA will not accept liability for any bids missed due to clerking issues, operator error, equipment failure, connection delays, communication lapses, or technical malfunctions of any nature. (f) Estimated Prices- As a convenience to our clients, we furnish pre-sale estimates for all materials included in the auctions. These estimates are approximate valuations and are based upon comparable auction values. These estimates are NOT prices. Bidding usually begins at about one-half of the low estimate, but the final bid price may well be less than or more than any estimate printed. (g) Reserved Prices - Some lots in the sale are subject to a reserve, which is the confidential minimum price below which such lot will not be sold. The reserve will not exceed the high estimate of the lot. Reserves are agreed upon with consignors or, in the absence thereof, the absolute discretion of ETNA. The auctioneer may open bidding on any lot below reserves by placing a bid on behalf of the seller. The auctioneer may continue to bid on behalf of the seller up to the reserve amount, either by placing consecutive bids or by placing bids in response to other bidders. For lots that are offered without reserves, unless there are already competing bids, the auctioneer, in his or her discretion, will generally open the bidding at half of the low estimate for the lot. In the absence of a bid at that level, the auctioneer may proceed backward at his or her discretion until a bid is recognized, and then continue up from that amount. CONSIGNORS ARE NOT ALLOWED TO BID ON THEIR ITEMS. 3. DURING THE SALE (a) Unless otherwise announced by the auctioneer at the time of sale, all bids are per lot as numbered in the catalog. ETNA reserves the right to determine all matters regarding the order, precedence, or appropriate increment of bids or lots' constitution. (b) ETNA reserves the right to reject a bid from any bidder and advance the bidding in any manner the auctioneer may decide. In the event of any dispute between bidders, or the event the auctioneer doubts the validity of any bid, 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 the sale, our sales records shall be conclusive in all respects. (c) On the fall of the auctioneer's hammer, the highest bidder shall have purchased the offered lot in accordance and subject to compliance with all of the conditions of sale and (i) assumes full risk and responsibility therefor, (ii) if requested, will sign a confirmation of purchase, and (iii) will pay the purchase price in full, plus Buyer's Premium, or such part as we may require for all lots purchased. No lot may be transferred. Any person placing a bid as agent on behalf of another (whether or not such person has disclosed that fact or the principal) may be jointly and severally liable with the principal under any contract resulting from the acceptance of a bid. (d) Condition Reports- The bidder assumes responsibility for ensuring that the condition of the item(s) meets with their satisfaction before bidding. Any condition statement is given as a courtesy to a client, and is only an opinion and should not be treated as a statement of fact. ETNA art gallery shall have no responsibility for any error or omission. The absence of a condition statement does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections, or aging.? 4. AFTER THE SALE FOR PAYMENT, IF YOU HAVE A CARD ON FILE WITH LIVEAUCTIONEERS, IT WILL BE AUTOMATICALLY CHARGED 72 HOURS AFTER YOU RECEIVE YOUR INVOICE. (a) 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 25% of the successful bid price up to and including $100,000, 23% between $100,000 and $500,000, and 20% on any amount in excess of $500,000. (b) ALL ITEMS SOLD IN ETNA IS TAX EXCEPTION BECAUSE OF SALE TAX-FREE IN DELAWARE STATE. (c) ALL PAYMENT MUST BE RECEIVED IN SEVEN BUSINESS DAYS AFTER THE SALE. We accept personal or company checks, cashier's check, money order, Visa, MasterCard, Discover payments. For items purchased online, Buyer will be emailed an invoice within 48 hours after the auction. This email provides instructions on how to make your payment. If paying by check, money order, or cashier's check, ETNA reserves the right to hold all purchases until the check has cleared to ETNA's satisfaction and bank. Check, money order or Cashier's Check should be made payable the name listed on the invoice. The Buyer agrees to pay ETNA a handling charge of $50 for any check dishonored by the drawee. Visa, MasterCard, or Discover Card is no greater than $5,000 with a 3% Credit Card Transaction Fee; all orders of more than $5,000 must be paid for by Certified Check or Money Transfer. PLEASE NOTE: Bank-to-Bank wire payments sometimes take several days to appear in our account, so, at the very minimum, you must submit to us, within the five business days' time period, an email with a scanned copy of the order for your Bank Wire Payment, along with the contact name of your banking representative, their email address and the direct contact telephone number for your banker. All bank wire transfer fees, including the receiving bank wire fees charged to ETNA for this convenience, are at the expense of and are to be paid by the Buyer, and those fees will be included in the invoice we send to you. (d) No lot may be removed from ETNA premises until the Buyer has paid in full the purchase price, including Buyer's Premium or has satisfied such terms that Etna's in its sole discretion, shall require. (e) If for any reason, a purchased lot cannot be delivered in the same condition as at the time of sale, or should any purchased lot be stolen, miss-delivered, or lost before delivery, ETNA shall not be liable for any amount in excess of that paid by the purchaser. (f) ETNA may, as a service to buyers, arrange to have purchased property posted and shipped at the Buyer's expense. We also can provide you with a list of shippers or use your shipping providers. ETNA is not responsible for any acts or omissions in packing or shipping purchased lots, whether ETNA recommends such carriers. Packing and handling of purchased lots are at the responsibility of the Buyer and is at the entire risk of the Buyer. (g) International buyers are responsible for all import/export customs duties and taxes. An invoice stating the actual purchase price will accompany all international purchases. (h) Non Payment- If we do not receive payment in full, in good cleared funds, within seven (7) business days following the sale, we are entitled in our absolute discretion to exercise one or more of the following measures and any additional actions available to us by law: a) to impose a late charge of one and a half percent (1.5%) per thirty (30) days of the total purchase price b) to hold the defaulting Buyer liable for the total amount due and to begin legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law c) to cancel the sale d) to resell the property publicly or privately with such terms as we find appropriate, to resell the property at public auction without a reserve, and with the purchaser liable for any deficiency, cost, including handling charges, the expenses of both sales, our commission on both sales at our regular rate, all other charges due hereunder and incidental damages. Besides, a defaulting purchaser will be deemed to have granted us a security interest in, and we may retain as collateral security for such purchasers obligations to us, any property in our possession owned by such purchaser. At our option, payment will not be deemed to have been made in full until we have collected funds represented by checks, or in the case of bank or cashier's checks, we have confirmed their authenticity. e) to offset against any amount owed f) to not allow any bids at any upcoming auction by or on behalf of the Buyer g) to take other action as we find necessary or appropriate (i) Failure to Collect Purchases- If a property is not picked up within seven (7) business days following the sale, whether or not payment has been made, Etna Art Gallery Inc reserves the right to charge $5 per lot per day or to deliver said property to a public warehouse for storage at the purchaser's expense. Etna Art Gallery Inc shall have no liability for any damage to property left on its premises for more than seven (7) business days following the sale. Besides, we reserve the right to impose a late charge of one and a half percent (1.5%) per month of the total purchase price if payment is not made in accordance with the conditions set forth herein. For property that is not picked up after thirty (30) calendar days, an additional administration fee of $75 will be charged. Property which is paid for but left on our premises for any reason in excess of sixty (60) calendar days is subject to sale by us with the balance of any funds recovered in excess of storage charges and any other fees being remitted to you. (j) Legal Ramifications- The parties' rights and obligations with respect to these Conditions of Sale, the conduct of the auction, and any matters connected with any of the foregoing shall be governed and interpreted by Delaware's jurisdiction laws. If any part of these Conditions of Sale is found by any court to be invalid, illegal, or unenforceable, that part shall be discounted, and the rest of the conditions shall continue to be valid to the fullest extent permitted by law. 5.DISCLAIMERS ETNA has made available to the Buyer the opportunity to- a) view the lot online. b) submit a request for a condition report either through the online lot listing or by contacting the ETNA directly. Buyer acknowledges that it has had the right to take advantage of the aforementioned inspections prior to the sale to determine the condition, size, repair, or property restoration. Therefore, ALL PROPERTY IS SOLD "AS-IS". NEITHER ETNA NOR THE CONSIGNOR MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE MERCHANTABILITY, FITNESS OR CONDITION OF THE PROPERTY OR AS TO THE CORRECTNESS OF DESCRIPTION, GENUINENESS, ATTRIBUTION, PROVENANCE OR PERIOD OF THE PROPERTY OR AS TO WHETHER THE PURCHASER ACQUIRES ANY COPYRIGHTS OR OTHER INTELLECTUAL PROPERTY RIGHTS IN LOTS SOLD OR AS TO WHETHER A WORK OF ART IS SUBJECT TO THE ARTIST'S MORAL RIGHTS OR OTHER RESIDUAL RIGHTS OF THE ARTIST. THE BUYER EXPRESSLY ACKNOWLEDGES AND AGREES THAT IN NO EVENT SHALL ETNA BE LIABLE FOR ANY DAMAGES INCLUDING, WITHOUT LIMITATION, ANY COMPENSATORY, INCIDENTAL OR CONSEQUENTIAL DAMAGES. All statements contained in the catalog or any bill of sale, condition report, invoice, or elsewhere as to authorship, period, culture, source, origin, measurement, quality, rarity, provenance, importance, exhibition, and literature of historical relevance, or physical condition ARE QUALIFIED STATEMENTS OF OPINION AND NOT REPRESENTATIONS OR WARRANTIES. No employee or agent of ETNA is authorized to make on our behalf or on that of the consignor any representation or warranty, oral or written, with respect to any property. YOU ARE SOLELY RESPONSIBLE FOR ALL OF YOUR COMMUNICATIONS AND INTERACTIONS WITH OTHER USERS OF THE SITE AND SERVICES AND WITH OTHER PERSONS WITH WHOM YOU COMMUNICATE OR INTERACT AS A RESULT OF YOUR USE OF THE SITE OR SERVICES. YOU UNDERSTAND THAT ETNA ART GALLERY INC DOES NOT SCREEN OR INQUIRE INTO THE BACKGROUND OF ANY USERS OF THE SITE OR SERVICES, NOR DOES ETNA ART GALLERY INC MAKE ANY ATTEMPT TO VERIFY THE STATEMENTS OF USERS OF THE SITE OR SERVICES. ETNA ART GALLERY IN MAKES NO REPRESENTATIONS OR WARRANTIES AS TO THE CONDUCT OF USERS OF THE SITE OR SERVICES OR THEIR COMPATIBILITY WITH ANY CURRENT OR FUTURE USERS OF THE SITE OR SERVICES. YOU AGREE TO TAKE REASONABLE PRECAUTIONS IN ALL COMMUNICATIONS AND INTERACTIONS WITH OTHER USERS OF THE SITE AND SERVICES AND WITH OTHER PERSONS WITH WHOM YOU COMMUNICATE OR INTERACT AS A RESULT OF YOUR USE OF THE SITE OR SERVICES, PARTICULARLY IF YOU DECIDE TO MEET OFFLINE OR IN PERSON. INDEMNITY- You agree to defend, indemnify, and hold ETNA Art Gallery Inc, its officers, directors, employees, and agents, harmless from and against any claims, liabilities, damages, losses, and expenses, including, without limitation, reasonable legal and accounting fees, arising out of or in any way connected with your access to or use of the Site, Services or Collective Content, or your violation of these Terms. 6. DISPUTE RESOLUTION You and ETNA agree that any dispute, claim, or controversy arising out of or relating to these Terms or the breach, termination, enforcement, interpretation or validity thereof or the use of the Site or Services (collectively, Disputes) will be settled by binding arbitration, except that each party retains the right to bring an individual action in small claims court and the right to seek injunctive or other equitable relief in a court of competent jurisdiction to prevent the actual or threatened infringement, misappropriation or violation of a party's copyrights, trademarks, trade secrets, patents or other intellectual property rights. You acknowledge and agree that you and ETNA waive the right to a trial by jury or to participate as a plaintiff or class User in any purported class action or representative proceeding. Further, unless both you and ETNA otherwise agree in writing, the arbitrator may not consolidate more than one person's claims and may not otherwise preside over any form of any class or representative proceeding. If this specific paragraph is held unenforceable, then the entirety of this Dispute Resolution section will be deemed void. Except as provided in the preceding sentence, this Dispute Resolution section will survive any Terms termination. 7. GENERAL The failure of ETNA Art Gallery Inc to enforce any right or provision of these Terms will not constitute a waiver of future enforcement of that right or provision. The waiver of any such right or provision will be effective only if in writing and signed by a duly authorized representative of ETNA Art Gallery Inc. Except as expressly set forth in these Terms, the exercise by either party of any of its remedies under these Terms will be without prejudice to its other remedies under these Terms or otherwise. If for any reason, a court of competent jurisdiction finds any provision of these Terms invalid or unenforceable, that provision will be enforced to the maximum extent permissible, and the other provisions of these Terms will remain in full force and effect.