ONE OWNER: ASIAN ART ESTATE AUCTION

The following is for the terms and conditions The absence of condition remarks in the description DOES NOT mean the item is in perfect condition. We encourage you to thoroughly examine the property before bidding. If you cannot personally inspect a lot, you may request a Condition Report prior to bidding. This service is provided for guidance only, without legal obligation. All lots are sold "AS IS" and there will be no returns based on condition. Measurements Please Note: All measurements are approximations. Terms and Conditions of Sale All property offered and sold through Vertus Estates & Associates shall be offered and sold on the terms and conditions set forth in these Conditions of Sale. By participating in any sale, you acknowledge that you are bound by these terms and conditions. Vertus has made every effort to describe accurately property to be sold. However, Vertus assumes no risk, liability or responsibility for the identification or authenticity or authorship, or weight, count, or measure of any property identified in its catalogue or lists of sale. This shall include, among others, the identity of the creator, the period, culture, source of origin, as the case may be, with which the creation of any property is identified in any publication. ALL PROPERTY IS SOLD "AS IS". THE CONSIGNOR MAKES NO WARRANTIES OR REPRESENTATIONS OF ANY KIND WITH RESPECT TO ANY PROPERTY OFFERED FOR SALE, SINCE THE AUCTIONEER IS ACTING SOLELY AS AN AUCTION BROKER, AND, UNLESS OTHERWISE STATED, DOES NOT OWN THE PROPERTY OFFERED FOR SALE. THEREFORE, THE AUCTIONEER MAKES NO WARRANTY OF TITLE, WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR ANY OTHER WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY. In no event shall Vertus be responsible for the correctness, nor deemed to have made any representation or warranty of description, genuineness, attribution, provenance or condition of the property and no statement by anyone or in any advertisement, or which is made at the sale, in the bill of sale or invoice, or elsewhere, shall be deemed such a warranty or representation or an assumption of liability. All bidders acknowledge their right to have made or requested full inspection of any and all properties prior to sale and agree to be charged with all matters such inspection may have disclosed or indicated. The company reserves the right to withdraw any property at any time before the fall of the hammer in its sole and exclusive discretion. The highest bidder acknowledged by the Auctioneer shall be the purchaser. In the event of any dispute between bidders, 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 sale, the sale record of the Auctioneer shall be conclusive in all respects. If the Auctioneer determines that any opening or later bid or any advance of bidding is not commensurate with the value of the article offered, the Auctioneer may reject the same and withdraw the article from sale. Upon the fall of the hammer, title to any offered lot or article will immediately pass to the highest bidder as determined in the exclusive discretion of the auctioneer. Such bidder thereupon assumes full risk and responsibility for the property sold, agrees to sign any requested confirmation of purchase, and agrees to pay the full purchase price therefore or such part upon such terms as Vertus may require. All property shall be paid for and removed by the purchaser at his/her expense within three (3) business days of the sale and, if not so removed, may be sold by Vertus, or sent to a public warehouse, at the sole risk and charge of the purchaser(s), and Vertus may prohibit the purchaser from participating, directly or indirectly, as a bidder or purchaser in any future sale or sales. Vertus will not be responsible for any loss, damage, theft, or otherwise responsible for any goods left in Vertus' possession after seven (7) business days. If the foregoing conditions or any applicable provisions of law are not complied with, in addition to other remedies available to Vertus and the Consignor (including without limitation the right to hold the purchaser(s) liable for the bid price) Vertus, at its option, may: a.) Hand over the debt to a collection agency. The company will not be responsible for the actions of the collection agency including reporting the debt to the credit bureaus, and communications to third parties such as employers, business associates, and family members. b.) Hold the defaulting buyer liable for the total amount due and begin legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law. c.) Resell the property publicly or privately with such terms as Vertus deems appropriate, resell the property at public auction without reserve. d.) Take other action as we find necessary and/or appropriate. Payment is a precondition to removal. Payment shall be by cash, certified check or similar bank draft, or any other method approved by Vertus. Checks will not be deemed to constitute payment until cleared. Vertus will charge interest of one and one-half percent (1 1/2%) per month on any balance remaining thirty (30) days after the day of sale. Unless the sale is advertised and announced as "without reserve", each lot is offered subject to a reserve and Vertus may implement such reserves by bidding through its representatives on behalf of the Consignors. In certain instances, the Consignor may pay less than the standard commission rate where Vertus or its representative is a successful bidder on behalf of the Consignor. Where the Consignor is indebted to Vertus, we may have an interest in the offered lots and the proceeds there from other than the broker's Commissions, and all sales are subject to any such interest. Shipping Shipping is the responsibility of the buyer. In the interest of our clients, Vertus Estates & Associates will recommend a list of local shippers to assist your shipping needs. Vertus takes no responsibility for any acts or omissions of any shipping company and will not be liable in any way once items have left our premises. We suggest purchasing insurance for the full value of your item. THERE WILL BE A 21% BUYERS PREMIUM APPLIED TO ALL SALES. ALL BUYERS LOCATED IN CANADA WILL BE CHARGED THE APPROPRIATE FEDERAL AND PROVINCIAL TAXES. THERE ARE NO EXCEPTIONS. Payment We accept Cash, Personal Checks, Certified Checks, Wire Transfers and Paypal. Auction purchases must be paid for within 5 days of the auction. International orders and all orders of $5,000 or more must be paid for by Wire Transfer. Import and Export Regulations Regarding Endangered Species Some items in our auctions require special permits in order to leave the country, either due to their value and cultural significance, or because they contain parts from species protected under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), for example rhinoceros horn, whalebone, tortoiseshell or ivory. If you have any questions about whether a lot may require a permit in order to be shipped to you, we recommend that you discuss the matter with a local customs broker. It is the sole responsibility of the buyer to ensure that the property is properly imported into the buyer's country. If you participate in the auction and as a result, purchase property that you plan to ship to another country, you agree that you are responsible for familiarizing yourself with and complying with any and all applicable import rules and regulations. Vertus makes no representation or warranty and accepts no liability whatsoever to the seller, the buyer, or any third party in respect of the availability or issuance of valid import and export permits or the existence or exercise of pre-emption or other rights to purchase by governmental or regulatory authorities anywhere.