Page 325 - 中国当代书画

CONDITIONS OF BUSINESS

Chapter I General Provisions Buyer respectively.
These conditions are the terms by which we contract, as the Auctioneer, with the
Seller and with the Buyer as well as the terms by which the Seller and the Buyer
Article 1 Governing Law
conclude a contract concerning the Lot. Therefore, any Seller, Bidder, Buyer and
This Conditions of Business (hereinafter referred to as the “Conditions”) are other concerned parties participating in the auction should read the Conditions
made in accordance with the Auction Law of the People’s Republic of China, carefully and conform to the provisions hereof. All parties shall be liable for
other relevant laws implemented in the People Republic of China, regulations of their own actions at auction and any loss caused by failure to read the Conditions
the People’s Republic of China and the Articles of Association of this Company carefully.
with reference to international general practices.

Article 5 Exclusion of Liability

Article 2 Definitions and Interpretation We shall undertake no guarantee for the authenticity and/or quality of any Lot.
The terms used in these conditions shall have the following meanings: The Bidder and/or its agent shall bear the responsibility of carrying out its own
Ǻ “We/Us/Our/Company” means Beijing Hanhai Auctions Co., Ltd.. inspection and investigations as to the nature of the Lot and shall be liable for its
ǻ “the Company’s domicile” means 80 East Liulichang Xuanwu District, Bei- bid.
jing, People’s Republic of China.
Ǽ “the Bidder” means a natural person, legal person or any other organization Chapter II Conditions Concerning the Seller
that has full capacity of civil rights to bid at auction according to provisions of
the laws of People’s Republic of China and who has gone through the necessary
registration and procedural formalities of this company. The Bidder shall satisfy Article 6 Consignment Procedures
all provisions with respect to conditions of sale or qualification of the Bidder. When arranging for consignment, the Seller shall hold a valid identity card or

Under these Conditions, the Bidder shall include any of its agents unless other- passport or other certificates approved by the competent government of the
wise provided thereunder or in a particular context. People’s Republic of China in the case of the seller being a natural person, who
ǽ “the Buyer” means the person with the highest bid accepted by the auction- must also sign a contract with us. A valid certificate of registration, ID of legal

eer. representative or other legal authorization document is required in the case of the
Ǿ “the Seller” means a natural person, legal person or any other organization seller being a legal entity or other organization, which must also sign a consign-
who consigns the Lot to us for auction in accordance with these Conditions. Un- ment contract with us.
der these Conditions, the Seller shall include any of its agents unless otherwise When the Seller arranges for consignment, we shall be automatically authorized
provided thereunder or in a particular context. However, under no circumstances to make pictures, illustrations, catalogue, or other video images of the Lot.
shall China Guardian Auctions Co., Ltd be considered as the Seller.
Article 7 The Seller’s Agent
ǿ “Lot” means any item(s) deposited with us for sale at auction and, in particu-
When arranging for consignment, the Seller’s Agent shall submit to us a relevant
lar, the item or items assigned a lot number and described in a catalogue.

authorization letter and hold a valid identity card or passport or other certificates
Ȁ “Auction Date” means the published date on which the auction will formally
approved by the competent government of the People’s Republic of China in the
begin. In the case of any discrepancy between the actual date of auction and the
case of a natural person. A valid certificate of registration, ID of legal represen-

published date, the actual date of auction shall prevail.
tative or other legal authorization documents is required in the case of a legal
ȁ “Sale Date” means the date on which the auctioneer confi rms the sale of any
person or other organization.
lot in the auction by striking his hammer or in any other public manner.
We are reserve the right to examine and amend the above arrangement in any
Ȃ “Hammer Price” means the amount of the highest bid accepted by the auc-
manner we consider reasonable.
tioneer in relation to a Lot.
ȃ “Proceeds of Sale” means the net amount owed to the Seller from the Ham- Article 8 The Seller’s Warranties
mer Prices less commission pro rata and all expenses and other amounts owed to The Seller hereby makes irrevocable warranties to us and the Buyer with respect
us by the Seller. to the consigned Lot as follows:
ᶍ “Purchase Price” means the total amount payable by Buyer for its bid, includ- Ǻ the Seller has exclusive and absolute ownership and legal right to dispose of
ing Hammer Price, commission and other expenses payable by the Buyer as well the Lot. Without prejudice to any legal interest (including copyright) of any
as the charges caused by the Buyer’s defaults. third party, the auction of the Lot shall not violate any relevant law and regula-
ᶎ “Expenses” means charges and expenses including but not limited to expens- tion;
es with respect to Lot insurance, catalogue and other advertisement, packaging, ǻ the Seller has, to the best of its knowledge, made full and complete disclosure
transportation and storage, and any other expenses pursuant to relevant laws, and description to us with respect to the origin and any flaw or defect of the Lot

regulations and provisions hereof. without any concealment and fabrication; and
ᶏ “Reserve” means the price below which we agree with the Seller in writing Ǽ the Seller shall indemnify and hold us and/or the Buyer from and against any
that the Lot cannot be sold. claims, losses and damages or actions incurred or brought by the actual owner
ᶐ “Reference Price” means the price of the Lot provided in the catalogue or or any third party who claims to be the actual owner of the Lot as well as all ex-
other descriptive materials and estimated prior to the Auction. The Reference penses and costs incurred in connection therewith, arising out of, or in any way

Price is subject to possible changes and cannot be deemed as the fixed sale price. attributable to any breach of the above warranties.

Article 3 Enurement Article 9 Reserve
We organize auctions pursuant to Chinese laws, regulations and policies. These All Lots are offered subject to a Reserve, unless otherwise agreed by the Seller
Conditions shall enure to the benefit of and be binding upon the Seller, Bidder, and us. The Reserve shall be determined by the Seller and us in writing and no

Buyer and any other concerned parties participating in our auction in relation to modification or amendment of the Reserve shall be binding upon the parties un-

the artworks, crafts and other cultural relics presented by the auction activities of less subject to prior written consent of the other party.
this company. In no circumstances, shall we accept any liability for failure in sale due to bid-

Article 4 Special Notice ding lower than the Reserve at the auction.
We generally represent the Seller during the auction. When the auctioneer con- Article 10 Our Discretion

firms the highest bid by striking his hammer or in any other public manner, the We may decide the followings at our absolute discretion:
Bidder with the highest bid shall be the Buyer of the Lot and the sale contract Ǻ explanation and appraisal of any Lot as produced in the catalogue and/or
concerning the Lot between the Seller and the Buyer shall come into effect im- news media and/or in other ways;
mediately. Any legal effect accrued thereupon shall be born by the Seller and the ǻ adoption of expert’s opinion;