Page 327 - 中国当代书画

lation notice of the Seller to the Company, such notice should be deemed to be In case that the tone, color, graduation and shape shown in catalogue and/or any
terminated automatically, and the transaction is to be carried out in accordance other illustrations, images and advertisements differs from those of the original
with regulations stipulated in Article 24, under which the Seller should cooper- Lot due to print, photograph and other technical reasons, the original shall take
ate with the Company and under no circumstance raise objection. In the event precedence.
that the Seller cancels the transaction, the Seller must collect the Lot within 30 Any statement and appraisal in any way (including but not limited to the cer-

days from the date of our notice being dispatched (fees for the packaging and tificate, catalogue, slide show and news media) of any Lot made by us and our
handling shall be paid by the seller) . In the event the Lot has not been collected employees or their agents are only for reference and should not relied on as any
within the above period, the Company is authorized to sell the Lot by means of guarantee for the Lot. We and our employees or agents shall undertake no liabil-
auction or in other ways under conditions the Company considers appropriate. ity for any inaccuracy or omission in the statements and appraisals mentioned
The Seller holds responsibility to collect the net amount of expenses incurred by above.
the Company.

Article 33 Inspection by Bidders
Article 26 Taxes We shall undertake no guarantee for the authenticity and/or quality of the Lot.
In the case the Seller has a duty to pay a tax to the government of People’s Re- The Bidder and/or its agents shall inspect and investigate the actual status of the
public of China, the Auctioneer should withhold and pay the tax to the compe- Lot and take liability for its bidding.
tent authority in accordance with the relevant laws or administrative regulations We strongly advise the Bidders to personally inspect the original Lot on which
of the People’s Republic of China, and the Auctioneer should deliver receipt they intend to bid before the Auction Date by identification or other methods.

notice of tax payment to the Seller after the Auctioneer has paid the tax. Bidders shall judge whether the Lot is in accord with its description by them-
selves rather than relying on our catalogue and other images and advertisements
Article 27 Assistance in Collecting Deferred Payments

of the Lot.
In the event the Buyer fails to make full payment to us within seven days of the
Sale Date, we are entitled to recover the remuneration and other Expenses pay- Article 34 Registration of Bidders
able by the Buyer in accordance with provisions in Article 56 herein and to take The Bidder shall register and receive a bidding number before the Auction Date
necessary measures to assist the Seller in collecting deferred payments upon the with a valid identity card, or passport or other certificates approved by the Peo-

Seller’s request as soon as practicable. However, we shall have no obligation to ple’s Republic of China in the case of a natural person, or with a valid certificate

sue the Buyer on behalf of the Seller in any circumstances. of registration, ID of legal representative or other legal authorization certificates

in the case of a legal entity or other organization, otherwise it will not be deemed
Article 28 Our Discretion

as a legal Bidder.
We may determine the following matters, as the case may be, upon authorization

of the Seller (at the Seller’s expense) Article 35 Deposit
Ǻ to agree to special terms on how to make the payment of the Purchase Price; We will charge a deposit before the Bidder receives bidding number. The
ǻ to remove, store and arrange insurance for sold Lot; amount of deposit will be announced before Auction Date. We will refund all
Ǽ to settle claims brought by the Buyer or the Seller in accordance with relevant the deposit mentioned above with no interest to the Bidder within five business

terms and conditions herein; days after auction in case the Bidder fails in auction. In the event that the Bidder
ǽ to take other necessary steps to collect the deferred payment by the Buyer to succeeds at auction, the deposit will be taken as part of the Purchase Price pay-
the Seller. able by the Buyer and the balance (if any) will be refunded at collection.

Article 29 Unsold Lot Article 36 Our Option

In the event that the Lot is not sold in its first offering, the Seller shall take back We may forbid anyone from participating in auction, admission to the premises,
the Lot within 30 days after receipt of our notice (packing and shipping at the taking a picture , making a sound recording or making a video recording during
Seller’s own expense) and pay us fees for failed auction and all other expenses. auction, as the case maybe.
If the Seller fails to do so, we reserve the right to resell the Lot by public auction
Article 37 Abnormal Events
or in other ways under the conditions we consider appropriate and pay to the
In case of any abnormal events, we have the right to take necessary actions as
Seller the Sale Proceeds, after having deducted all agreed upon fees and other
the case may be. In the case that any dispute arises at auction, we have rights to
expenses accrued in the first auction and all costs incurred in the resale of the

mediate and settle.
Lot.
Article 38 Bidding as Principal
Article 30 Risks and Losses
Any person who bids shall be deemed as principal, unless the Bidder represents
The Seller shall take liability for any risk and/or loss that occurs after the period

to us a written certificate showing that it is the agent of a principal and is also
mentioned above in the case of failed retrieval of the Lot within the designated
subject to our approval in written form before Auction Date.
period. In the case that the Seller requires us to assist in returning the Lot, the
Seller shall be liable for all risks and/or all losses and bear all expenses. Gener- Article 39 Commission Bids
ally, we are not responsible for arrangement of transportation insurance unless The Bidder shall attend the auction personally; otherwise it may give us a com-
the Seller specifically instructs us to do so and bears the insurance premium. mission in writing to bid on its behalf. We shall have the right to but no obliga-

tion to accept such commission.
Chapter III Conditions Concerning the Bidder Article 40 Procedures of Commission Bids
and the Buyer The Bidder who intends to give us a commission to bid on its behalf shall pres-

ent us with a written authorization certificate and hand in a deposit in accordance
Article 31 Catalogue of Lot with the provisions in Article 35 herein within certain period (not later than 24
hours before Auction Date) .
At the auction, we will prepare a catalogue to introduce the status of the Lot with
words and/or pictures for the convenience of Bidders and Sellers. The words, Article 41 Cancellation of Commission Bids
Reference Price, pictures in the catalogue and other images and advertisements The Bidder who entrusts us to bid on its behalf shall inform us of bid cancella-
are only references for Bidders and are subject to revision before auction. We tion in writing not later than 24 hours before Auction Date.

provide no guarantee for the authenticity, value, tone, quality or for any flaw or
Article 42 Non-liability of Commission Bids
defect of any Lot.
Since we charge no fee for bidding on behalf of the Bidder, in the case that the
Article 32 Uncertainty of Catalogue
Bidder cannot attend the auction personally, we and our employees shall not be