2022 Selected Asian Art Summer Sale DAY1

Miwa Auction The Conditions of Sale 1.General Provisions *There are Chinese, Japanese, and English versions of these rules. In principle, the Japanese version shall be the governing and prevailing version. *These rules apply to the laws of Japan and refer to international rules ?1.1?The auction held by Miwa Auction Inc. (hereinafter referred to as the "Miwa") shall be conducted in accordance with these rules. All bidders and other relevant personnel who participate in the auction activities organized by Miwa are deemed to fully accept and agree to abide by the provisions of these rules. Miwa has the right to make corresponding amendments to these rules according to the actual situation. The right to interpret these rules belongs to Miwa Auction Inc. ?1.2?Miwa's auction items are auctioned in the state at the time of auction, and we do not assume any guaranteed responsibility for any blemishes, dirt, or scratches on the auction items. Bidders must carefully check the detailed pictures and product status reports and bear legal responsibility for their behavior in bidding for auction items. ?1.3?The auction items uploaded in our catalogue contain works with the author's name clearly. When it is found out that the work is not the author's work after the transaction, Miwa is not responsible for any payment responsibilities such as refunds and damages. ?1.4?The auction is executed by an auctioneer entrusted by Miwa. The price of the hammer is determined through bidding based on the estimated price in advance. The auctioneer has the right to raise or lower the bidding ladder on behalf of Miwa according to the implementation of the auction, reject any bid, decide the final bidder, and execute the bidding procedures. Bidders participating in the auction must unconditionally accept the ruling of the auctioneer. ?1.5?When the highest bid price is confirmed by the auctioneer's hammer, the bidder is considered a successful bidder. ?1.6?After the bidder succeeds in bidding, he becomes the buyer of the auction item. The buyer has to pay the bidding price, that is, the hammer price, as well as 16.5% of the hammer price (tax included) of the commission to Miwa. ?1.7?The buyer shall not modify the contract for any reason except for the special provisions of Miwa. ?1.8?Miwa has the right to refuse to go through the registration procedures for the applicant who has an unfavorable behavior to Miwa, and has the right to revoke those who have already done so. ?1.9?Regarding other matters not stipulated in these rules or differences in the interpretation of these rules, the two parties shall resolve them through consultation. ?1.10?Based on this rule, all disputes between Miwa and bidders or other persons participating in the auction shall be submitted to the Japan Commercial Arbitration Commission for arbitration in accordance with the arbitration rules currently in effect at the time of application for arbitration. The arbitration award is final and binding on both parties. The address when registering for the auction is the address where all relevant arbitration materials will be mailed. 2. Auction process (2.1) Read the paper or online catalogs and choose your favorite lot. (2.2) Participate in online auction preview. (2.3) We will hold an online preview before the auction. All auction items of the auction will be displayed when the online catalogue is previewed on the Miwa's official website and major auction platforms, and any participant can freely review it. In addition, there may be differences between the hue, color, or state of the lot in the online catalogue and the actual object. Please check carefully before bidding, ask for detailed pictures and video information from Miwa's customer service department, and fully confirm the relevant information. If you have any questions, please consult our company. (2.4) Choose the bidding method that suits you: written entrustment/telephone entrustment/online bidding. Bidders are required to confirm the auction items they want to buy and participate in the auction within their own judgment and responsibility. Miwa is an online auction company and does not provide on-site bidding. (2.5) Register as a bidder Fill the bidder registration form Provide identification documents Bidders must present valid identification (passport, health insurance card, driver's license, etc.) to Miwa in advance. (2.6) Pay the deposit and receive the bidding card: The bidders participating in the auction shall pay the bidding deposit (1 million yen) to receive the bidding number plate by check, money order, wire transfer or credit card. If you have any questions, please call our customer service department for inquiries. Bidders participating in the online auction shall have a margin ratio of 1:3 in accordance with the requirements of each auction platform. 3. Responsibilities of Bidders When a bidder participates in the bidding, it confirms the following matters and assumes corresponding responsibilities on its behalf: (3.1) Bidders participating in the bidding will be deemed to have been satisfied with their status and description before the auction, instead of relying on all written or oral descriptions, explanations or evaluations made by Miwa on the auction items. (3.2) Except as otherwise stated in these rules, all written or oral descriptions, explanations or evaluations (whether or not contained in catalogs, reports, documents, video products or any other promotional materials) made by Miwa on auction items are merely expressions of opinions , Under any circumstances, should not be regarded as Miwa's statement or guarantee in any aspect of the auction item (including but not limited to its authenticity, originality, commercial value, suitability for a specific purpose, quality or other conditions, etc.) ; (3.3) The description, explanation, or evaluation of the defects of the auction item by Miwa is for reference only. it does not mean that the auction item is free of other defects and should not be regarded as a statement or guarantee of the auction item by Miwa under any circumstances. 4. Bidding Method Written entrusted bidding/telephone entrusted bidding/online bidding: Bidders need to submit photo identification documents and residential address certificates issued by relevant government departments and other relevant information. If the bidder is a company or other organization, please contact our customer service department connect. 1. Written bidding ?4.1.1?The minimum bid amount for a written commissioned bid is 100,000 yen. Bidders need to submit a written bidding registration form to entrust Miwa to bid on their behalf, but Miwa can decide whether to accept the entrustment. For successful bidding, Miwa will charge the bidder?s buyer?s commission and consumption tax on the commission according to the hammer price? ?4.1.2?Written bidding requires a deposit fee (1 million yen). If the written power of attorney and the deposit of 1 million yen do not arrive 24 hours before the date of the auction, it will be deemed that the auction number plate has not been received and will not be eligible to participate in the auction. ?4.1.3?In a written bidding, if two or more bidders bid for the same auction item at the same price and the final auction item is sold at that price, Miwa may decide on its own to sell the auction item to the bidder who has served the written bidding registration form earlier. ?4.1.4?Under any circumstance, Miwa will not assume any responsibility for the unsuccessful bidding of the written bidder or any errors or omissions in the written bidding process. ?4.1.5?The deadline for the application of written bidding is subject to the announcement on the registration form. If the written bidder fails to submit the application form and the bid deposit specified in the application form and other documents required to be submitted before the deadline set out in the registration form, they cannot participate in the bidding. Miwa will not bear any responsibility. 2. Telephone bidding ?4.2.1?The minimum bid amount for telephone bidding is 100,000 yen. Bidders can choose to bid by telephone and submit a telephone bidding entrustment registration form to entrust Miwa to bid on their behalf, but Miwa can decide whether to accept the entrustment. If the bid is successful, Miwa will charge the bidder's buyer's commission according to the hammer price. ?4.2.2?Telephone bidding requires a deposit fee (1 million yen). If the telephone power of attorney and the deposit of 1 million yen do not arrive 24 hours before the date of the auction, it will be deemed that the auction number plate has not been received and will not be eligible to participate in the auction. ?4.2.3?During the bidding on behalf of Miwa, we will try our best to contact the bidders in accordance with the information provided by the bidders on the telephone bidding registration form. The bid information received by Miwa through the contact method provided by the bidder on the telephone bid registration form will be regarded as the bidder's own behavior, and the bidder shall be legally responsible for the instructions issued by it. ?4.2.4?Under any circumstance, Miwa will not bear any responsibility for the unsuccessful bidding by telephone bidders or any errors or omissions in the telephone bidding process. ?4.2.5?The deadline for applications for telephone bidding is subject to the announcement on the registration form. For telephone bidders who fail to submit the application form and the bid deposit specified in the application form and other documents required to participate in the bidding before the deadline listed in the registration form, Miwa will not bear any responsibility. (4.2.6) In order to ensure the accuracy of the telephone bidding, Miwa has the right to record the content of the telephone bidding process according to the specific circumstances. 3. Online bidding (4.3.1) Bidders who wish to bid through online bidding shall apply to Miwa before the auction and shall follow the instructions of Miwa. (4.3.2) Bidders who apply for online entrustment must pay a deposit, and the amount is subject to the announcement before the auction. The above deposit shall be remitted to the account designated by Miwa within the specified period and the registration procedures shall be completed. If Miwa does not receive the deposit from the bidder within the specified period, the online bidding application of the bidder shall be deemed invalid. (4.3.3) Bidders who apply for online bidding must fill in the required information on the "Online Bidding Registration Form" and mail or fax it to our company within the specified time limit. Moreover, Miwa will not be held responsible for any losses caused by the failure of the online bidder to contact the online bidder through the contact information recorded in the above application form, regardless of the reason. (4.3.4) The method of determining the buyer of the online bidding auction is consistent with the method of determining in the on-site auction venue, that is, the bidder with the highest online bid is confirmed by the auctioneer's hammer, and the sale and purchase contract is established. (4.3.5) Miwa has the right to reject bidders? online bidding applications without giving reasons. Regardless of whether the written decision of refusal is delivered to the bidder, Miwa shall not be liable. (4.3.6) If the bidding fails or causes losses to the bidder due to the following reasons, Miwa will not bear any responsibility. (4.3.6.1) During online bidding, Miwa or the bidder?s network connection is interrupted in any way (4.3.6.2) Malfunction or problem with online bidding software (4.3.6.3) Any internet connection, computer, mobile device or system malfunction or problem. ?4.3.6.4?Any errors due to the quality of digital images ?4.3.6.5?Operation errors of bidders in the bidding process ?4.3.6.6?Information reception delay caused by network delay 5. Payment ?5.1?Buyer commission ratio Examples are as follows: Hammer price 200,000 yen Hammer price commission (16.5%) including tax 33,000 yen Payment amount 233,300 yen ?5.2?Payment method Swift Code: MHCBJPJT Bank Name: Mizuho Bank, Ltd Branch Name: KAWAGUCHI BRANCH Branch Address: 3-5-1 Sakaecho, Kawaguchi-shi, Saitama 332-0017, Japan BANK TEL: +81-48-255-2711 Account Number:300-3062030 Account Name: Miwa Auction Co., Ltd. Miwa Auction Co,. Ltd. Company Address: ROOM 1107, LIONZ CITY KAWAGUCHI 1-3-31 SAIWAI-CHO KAWAGUCHI-CITY SAITAMA-KEN JAPAN 332-0016 Handy Phone: +81-80-9463-0621 Miwa Auction Co, Ltd. President Name: TATSUYA SHINODA ?5.3?Cash payment: only Japanese yen ?5.4?Credit card payment: VISA, MasterCard, UnionPay. Miwa stipulates that the limit of credit card payment is 300,000 yen. If you need to pay more than 300,000 yen, the buyer must pay by wire transfer or remittance, such as When paying with a credit card, the buyer is required to pay with credit card handling fee of 5% based on the purchase price. ?5.5?Payment after the event: After the auction is over, please fill in the "Power of Attorney for Delivery of Hammered Auction Items" in accordance with the Miwa's requirements, and remit the payment to Miwa's account within 7 days .Miwa will mail the auction item to the buyer after confirming the payment. (5.6) Online payment methods: PayPal, Alipay PayPal account: please confirm PayPal account information Alipay account: please confirm Alipay account information (5.7) After the auction is completed, cash (cash can only be used in Japanese yen), credit card, or UnionPay card is the principle of settlement on the auction day. If the settlement cannot be made on the same day, please settle by bank transfer within 7 days. The buyer needs to remit the payment to Miwa's account within 7 days after the lot is sold. If the payment is not received by the buyer within the payment period, Miwa has the right to cancel the transaction and return the lot to the seller. When using a credit card for settlement, a handling fee of 5% based on the purchase price must be paid. (5.8) After the auction is completed, the buyer has no right to cancel the transaction. In the event of disputes such as the buyer's failure to pay the corresponding price as scheduled, Miwa has the right to charge a cancellation transaction fee. The transaction cancellation fee is 30% of the hammer price. If it cannot be resolved through negotiation, a ruling shall be made in accordance with Japanese law. The buyer shall bear all litigation costs, and Miwa has the right to prohibit it from participating in future auction activities. After the settlement between Miwa and the producer is completed, no claims will be accepted. 6. Delivery, custody, and transfer of ownership of auction items Delivery, custody, and transfer of ownership of auction items (6.1) After paying the full price, you can receive the auction works. If the settlement cannot be made on the same day, the auction works can be received and sent after Miwa confirms the receipt of the payment. When requesting to package and mail the auction works purchased on behalf of the buyer, the buyer shall bear the costs incurred in the packaging and mailing. After the full payment is made, the buyer can withdraw the auction item. The buyer shall bear all the transportation, insurance and other expenses after the hammer is dropped. (6.2) After the bidder has paid the full payment, the ownership of the traded goods will be transferred to the bidder from the moment Miwa delivers the goods. (6.3) The bidder will bear all the risk factors brought by the goods from the moment the hammer is dropped. All the damages caused by Miwa will be borne by the bidder. (6.4) Whether directly or indirectly, Miwa will not bear the responsibility for product storage caused by natural disasters such as earthquakes, volcanic eruptions, tsunamis, typhoons, storms, and force majeure such as wars. (6.5) Special reminder: According to Japanese laws and regulations and the "Washington Convention", endangered species of wild animals and plants (ivory, rhino horn, coral, etc.) are restricted from exiting the country. The buyer should handle the auction items restricted for export with caution. If a legal dispute arises, the buyer will bear all responsibilities; for the auction items allowed to be exported, the buyer should go through the exit formalities by himself in accordance with the relevant regulations of Japan. 7. Explanation of terms Auctioneer: Refers to the person who presides over the auction on behalf of Miwa and decides to drop the hammer. Hammer Price: Refers to the highest bid price at which the auctioneer drops the hammer or announces an auction transaction by other customary methods. Lot number: Refers to the lot number attached to the auction item. A number is not limited to one auction item, and a case where a number represents a group of auction items also exists. Auctions are conducted in the order of auction numbers. The reference price: Refers to the estimated price of the auction item indicated by Miwa in the catalogue. Bid number plate refers to the number plate delivered to the bidder who has completed the registration procedures. Bidding: Refers to the act of proposing a bid price at an auction. Buyer: Refers to the bidder or the agent of the above-mentioned person accepted by the auctioneer to make the highest bid at the auction held by Miwa