August Asian Art Auction

Conditions of sale for auction: This constitutes Mosaic Art & Antique and the Consignor's entire agreement with the purchaser relative to the property to be sold at the auction. The following conditions of sale are the complete and only terms and conditions on which all property is offered for sale. 1. All property is sold "AS IS" and neither we nor the Consignor makes any guarantees, warranties or representations, expressed or implied, with respect to the property or the correctness of the catalog or other description of the authenticity of authorship, provenance, exhibitions, literature or historical relevance of the property or otherwise. No statement anywhere, whether oral or written, shall be deemed such a guarantee, warranty or representation. Any condition statement is given as a courtesy to a client, is only an opinion and should not be treated as a statement of fact. Mosaic Art & Antique 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 the effect of aging. Prospective bidders should inspect the property before bidding to determine its condition, size and whether or not it has been restored. We and the Consignor make no representation or warranty as to whether the purchaser acquires any reproduction rights in the property. We reserve the right to withdraw any property before sale. Unless otherwise announced by the auctioneer, all bids are per lot as numbered. We reserve the right to reject any bid. The highest bidder acknowledged by the online bidding system will be the purchaser. In the event of any dispute between bidders, or in the event of doubt on our part as to the validity of any bid, the auctioneer will have the 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 record is conclusive. Although in our discretion we will execute order bids or accept telephone bids as a convenience to clients who are not present at auctions, we are not responsible for any errors or omission in connection therewith (applies to Live Sales only, no phone/absentee bids for Online-Only Sales). If the auctioneer decided that any opening bid is below the value of the article offered, he may reject the same and withdraw the article from sale, and if, having acknowledged an opening bid, he decides that any advance thereafter is insufficient, he may reject the advance. 2. All sizes are approximate. All transactions must be complete before property is removed from the premise. If the sale is undeliverable prior to departure due to theft, damage or other damage, the sale shall be deemed to be cancelled and shall not be liable. Additional charges may apply to oversize lots. 3. Shipping can be arranged through any third-party shipper. 4. Merchandise not picked up will be re-auctioned or resold without further notice to the purchaser and payments will be forfeited. Further, in the event of loss or such resale, the original will be responsible. 5. Property not picked up within one (1) month may be re-auctioned or resold without further notice to the buyer, and payment will be forfeited. Merchandise will be packed and transported by the purchaser at his own risk and expense. Bidding on merchandise automatically constitutes agreement with these terms. IMPORTANT NOTICE: A premium of 25% will apply to all property sold online, to be paid by the buyer as part of the purchase price. 6. Bidders bid at all times represents an irrevocable offer by bidder to enter into a binding contract to purchase the lot in accordance with the specific provisions of the listing and these general terms and conditions as applicable, even if a higher bid was received by the Company. 7. In the event that any reserve price of a lot is not exceeded by any bidders bid, the Company in its sole discretion with or without the knowledge of or notice to any bidder, may reduce any reserve price to an amount below the bid of bidder at any time during an auction and accept the bid made by a bidder. 8. Reserve prices are always the confidential information of the Company and are not disclosed to bidders unless specifically stated as such during bidding. Nothing contained in any listing shall be construed to disclose any reserve price. In the placing of any bid the bidder understands and agrees that the bid once accepted by the Company will be the winning bid if there is no higher bid by another bidder and if any reserve or reduced reserve is exceeded by the bid. All bids are binding, irrevocable and non-cancellable by the bidder. The Company has final discretion on sale of a lot. The decision of the Company is final. 9. In the unlikely event that we lose our internet connection or items have inappropriate data due to technical errors in the system such as images mismatched or not available, items with incorrect information, price or certificate, the Company reserves the right in its sole and absolute discretion to cancel the remainder of the auction and/or rescind all winning bids. LIQUIDATED DAMAGES: IN THE EVENT THAT YOU BID AND ARE DEEMED THE WINNER OF ANY ITEM BY THE COMPANY BUT FAIL TO MAKE PAYMENT IN ACCORDANCE WITH THE INVOICE, OR CLAIM A DISPUTE WITH ANY THIRD-PARTY PAYMENT INTERMEDIARY, SUCH AS A CREDIT CARD COMPANY YOU WILL BE ASSESSED A CHARGE OF 15% OF THE HAMMER PRICE AS LIQUIDATED DAMAGES. BY BIDDING ON ANY SUCH LOT, YOU HEREBY AGREE TO THE PAYMENT OF SUCH LIQUIDATED DAMAGES AS A RESULT OF THE IRRPARABLE HARM THAT WILL BE SUSTAINED BY THE COMPANY. ADDITIONALLY, IN THE EVENT THAT A WINNING BIDDER FAILS TO MAKE ANY PAYMENT UNDER THESE TERMS AND CONDITIONS INCLUDING THE LIQUATED DAMAGES DESCRIBED HEREIN, WE RESERVE THE RIGHT TO REPORT SUCH NONPAYMENT TO CREDITOR AND COLLETION AGENCIES IN OUR SOLE DISCRETION. 10. The Company reserves the right to reject any bid at any time, and at its sole discretion. The Company additionally reserves the right it its sole and unlimited discretion at any time prior to, during or even after the close of the auction to exclude any person or individual bid and to award any lot to the highest accepted bid. The Company reserves the right to withdraw any lot at any time before, during or after the auction without liability. 11. On the fall of the hammer or expiration of time in an online auction, ownership of the offered lot will pass to the highest bidder acknowledged by the auctioneer, subject of fulfillment by the bidder, of all the conditions set forth herein, and such bidder thereupon, assumes full risk and responsibility thereof, but not limited to, insurance, fire, theft, removal and storage or damage from any and all causes, will pay the full Purchase Price or such part as we may require. In addition to other remedies available to us by law, we reserve the right to impose a late charge of 1.5% per month of the total Purchase Price if the payment is not made in accordance with the conditions set forth herein. 12. If any applicable conditions are not complied with by the purchaser, in addition to other remedies available to us and the consignor by law, including but not limited to, the right to hold the purchaser liable for the total Purchase Price, we at our option may cancel the sale, retain all payments made by the purchaser, resell the property at public auction with or without reserve, and the purchaser will be liable for any deficiency costs, including handing charges, the expenses of both sales, our commissions on both sales at our regular rates, reasonable attorney?s fees, including damages and all other charges due hereunder and to reject future bids from the buyer or render such bids subject to payment of a deposit and or charge interest at 18% per annum from the date payment became due until it is received in full and funds cleared our account. 13. The Company may also notify the buyer of an exercise of a lien over any of the buyers? property which is in the possession of the Company and no earlier than 30 days from the date of such notice arrange the sale of such property and apply the proceeds to the amount owed to the Company or any of our affiliated companies after the deduction from sale proceeds of our standard commission rates and sale related expenses. Or alternately, commence legal proceedings to recover the Purchase Price, together with interest and the costs of such proceedings, set off the outstanding amount remaining unpaid by the buyer against any amounts which the Company or our affiliated companies may owe the buyer in any other transactions or take such other action as we deem necessary or appropriate. 14. In the event that such a buyer pays a portion of the Purchase Price for any or all lots purchased, the Company shall apply the payment received to such lot or lots that the Company, in its sole discretion, deems appropriate. In the case of default, purchaser shall be liable for legal fees, costs and expenses associated with the attempted collection of payment from purchaser. In addition, 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. Furthermore, in the event that a purchaser fails to make any payments under these terms and conditions, a 15% charge as liquidated damages will be administered as described in Section 9. We hereby reserve the right to report such non- payment to credit and collection agencies in our sole discretion. 15. IMPORTANT NOTICE TO PROSPECTIVE BIDDERS: The Company, and consignors, reserve the right to bid on any lots. Unless specifically stated otherwise, all lots are subject to reserve price that shall be hidden from bidders. The Company shall act to protect the reserve by bidding in the auction process if need. The Company may open bidding on any lot below the reserve by placing its own bid. The Company may continue to bid on behalf of itself up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to other bidders. 16. The terms and conditions, the contents of any listing and the contractual relationship between the Company and the bidder shall be interpreted under and governed by the laws of the State of California. UNDER THE TERMS OF THIS AGREEMENT, YOU, THE BIDDER, HAVE ACKNOWLEDGED THAT THERE ARE NO REFUNDS OR EXCHANGES. IN THE EVENT THAT YOU REQUEST AND ARE GRANTED BY THE COMPANY A RETURN OR REFUND, YOU AGREE THAT YOU ARE STILL RESPONSIBLE FOR PAYING THE 15% RESTOCKING FEE BASED UPON THE HAMMER PRICE OF EACH ITEM THAT IS BEING RETURNED, LESS APPLICABLE TAXES, PLUS THE ENTIRE BUYERS PREMIUM, AS APPLICABLE, FOR EACH ITEM AS WELL AS ALL OF THE SHIPPING AND HANDLING CHARGES. ACCORDINGLY, THE RESTOCKING FEE, BUYERS PREMIUM AND ANY SHIPPPING AND HANDLING COSTS ARE NEVER ELIGIBLE FOR A RETURN, REFUND OR CREDIT. IN THE EVENT YOU REFUSE PAYMENT FOR A WINNING BID YOU WILL BE SUBJECT TO A 15% LIQUIDATED DAMAGE CHARGE OF THE HAMMER PRICE AS MORE FULLY DESCRIBED IN SECTION 9 HEREIN. SHIPPING AND HANDLING WILL BE HANDLED BY THE COMPANY, EXCEPT FOR MERCHANDISE WHICH WILL REQUIRE PICK UP FROM A SPECIFIC LOCATION OF SALE OR OTHER ARRANGEMENT DUE TO ITEM VALUATION, OR OTHERWISE APPROPRIATE FOR SAFETY OR CONVENIENCE REASONS. IF AN ITEM NEEDS TO BE RETURNED THE BIDDER HAS TO PROVIDE THE COMPANY WITH WRITTEN NOTICE WITHIN 7 DAYS FROM RECEIPT OF THE ITEM. UNTIL THE ITEM IS PROVEN TO BE NON-CONFORMING TO THE DESCRIPTION AT THE TIME OF THE AUCTION. THE COMPANY HAS THE SOLE DISCRETION TO APPROVAL ANY RETURN. ANY PERMITTED RETURNS MUST BE RECEIVED BY THE COMPANY IN THE EXACT SAME CONDITION AS WHEN SHIPPED TO THE BUYER. THERE ARE NO RETURNS ON SHIPPING CHARGES OR PREMIUMS PAID. ALL NON-CONFORMING OR UNAUTHORIZED RETURNS WILL BE REJECTED. 17. For all sales across any platform, the Company has full and complete discretion to cancel a sale for any issue whatsoever. For all products, we conduct a thorough final quality check right before shipping products to the buyer. If in the course of the final quality check, the product does not meet our quality standards, we will cancel the sale and issue the buyer a refund.