$1 IMPORTANT CHINESE ARTS ESTATE NO RESERVE

By participating in this auction the bidder agrees to the following terms and conditions: Disclaimer: All lots sell as is, where is, with all faults. Marchant Auction & Estate Sales, LLC and the seller do not give or make any type of guarantee or warranty regarding the lots to be sold, implied or otherwise. All bidders are encouraged to contact Marchant Auction & Estate Sales, LLC directly for additional information of any lot. Marchant Auction & Estate Sales, LLC is not responsible for incorrect listing information, if any. Marchant Auction & Estate Sales, LLC has attempted to provide accurate descriptions of all items, however, it is the bidder's responsibility to determine the condition and authenticity of each lot. Printed statements or descriptions by Marchant Auction & Estate Sales, LLC staff are provided in good faith and are matters of opinion. Terms of Sale: The auctioneer and Marchant Auction & Estate Sales, LLC shall have the right to withdraw any item at any time for any reason and to default any sale in the event of an error or dispute. The auctioneer will also have full discretion to reopen the bidding, cancel the sale or re-offer and resell the property. Should a dispute arise after the auction, our sale record is conclusive. No Reserves: Each lot will sell to the highest bidder without reserve. No Buybacks: All sellers are contractually prohibited from bidding on lots they have consigned to the auction. No Returns: All sales are final. There are no returns, refunds, or adjustments. Buyer's Premium: The buyers premium will be in the amount equal to 18% of the final bid price up to and including $200,000, plus 13% of the final bid over $200,000. Sales Tax: Buyers are required to pay any applicable state and local sales tax. Payment: Invoices for Marchant Auction & Estate Sales, LLC are sent at the end of the sale. The buyer must pay the entire amount due (including the hammer price, buyer's premium, all applicable taxes and other charges) no later than 5 p.m. on the seventh (7) business day following the sale. Marchant Auction & Estate Sales, LLC accepts the following forms of payment: Wire Transfers (For wire transfer instructions, please email auctions@marchantauctions.com) Credit Cards (MasterCard, Visa, American Express and Discover) (Please note: Marchant Auction & Estate Sales, LLC will only accept payment by credit card for invoices of $30,000 or less. Payment for invoices greater than $30,000 must be made via wire transfer.) PayPal Merchandise becomes the full responsibility of the bidder at time of payment and the bidder assumes all risk of loss and damage to property at that time. Marchant Auction & Estate Sales, LLC reserves the right to resell any property not paid for in full by the conclusion of the stated period. In any such event, the bidder will still be responsible for payment for the original purchase and the costs of collection of this payment and/or damages resulting from the resale of the property. Shipping: Marchant Auction & Estate Sales, LLC offers in house packing and shipping services for most items at the buyer's expense and may take up to 7 days after payment is received to process and ship. Will ship internationally (worldwide). Overseas duty charges are the responsibility of the successful bidder. After payment, delivery destination and shipping instructions are received, the items will be packed. Shipment is generally made via UPS Ground or USPS Global Express. Please Note: Responsibility and all liability of items as well as safe delivery is assumed by carrier, shipper or packing company upon acceptance of merchandise. Buyer will not hold Marchant Auction & Estate Sales, LLC liable for any damage or loss after merchandise has been released from our possession. Guaranty Agreement: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment to Marchant Auction & Estate Sales, LLC of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney's fee.

Local Taxes Apply

We have been instructed by the estate lawyers which we work with settling estates to sell the whole collection of the deceased collector with absolutely No Reserves.