Page 179 - 古董珍玩专场一

CONDITIONS OF BUSINESS

Article 23 Payment Proceeds of Sale at the Seller’s own expense) and pay us fees for failed auction and all other
In the case that the Buyer makes full payment to us in accordance with pro- expenses. If the Seller fails to do so, we reserve the right to resell the Lot by
visions in Article 48 herein, we shall pay the Proceeds of Sale (after having public auction or in other ways under the conditions we consider appropriate
paid the taxes described in Article 26 of these Conditions) to the Seller in and pay to the Seller the Sale Proceeds, after having deducted all agreed
RMB currency after 35 days from the Sale Date. upon fees and other expenses accrued in the first auction and all costs in-
curred in the resale of the Lot.
Article 24 Deferred Payment
In the case that we do not receive the full payment from the Buyer upon the Article 30 Risks and Losses
expiry of the payment period under Article 49 herein, we will pay the Sale The Seller shall take liability for any risk and/or loss that occurs after the
Proceeds (after having paid the taxes described in Article 26 of these Condi- period mentioned above in the case of failed retrieval of the Lot within the
tions) to the Seller within seven business days (meanwhile such payment designated period. In the case that the Seller requires us to assist in return-
should be made after 35 days of Sale Date as well) after receipt of full pay- ing the Lot, the Seller shall be liable for all risks and/or all losses and bear all
ment from the Buyer. expenses. Generally, we are not responsible for arrangement of transporta-
tion insurance unless the Seller specifically instructs us to do so and bears
Article 25 Cancellation the insurance premium.
In the event that the Buyer does not make full payment to us within 60 days
of the Sale Date, the Seller is authorized to cancel the transaction after giv- Chapter III Conditions Concerning the Bidder and the Buyer
ing us a notice in writing and receiving prior approval from us. A cancellation
notice is to be dispatched to the Buyer within 7 working days after such deci- Article 31 Catalogue of Lot
sion approving the cancellation as made by the Company. In the event that At the auction, we will prepare a catalogue to introduce the status of the Lot
the Buyer make full payment and/or finishes collection procedure before the with words and/or pictures for the convenience of Bidders and Sellers. The
service of the cancellation notice of the Seller to the Company, such notice words, Reference Price, pictures in the catalogue and other images and
should be deemed to be terminated automatically, and the transaction is to advertisements are only references for Bidders and are subject to revision
be carried out in accordance with regulations stipulated in Article 24, under before auction. We provide no guarantee for the authenticity, value, tone,
which the Seller should cooperate with the Company and under no circum- quality or for any flaw or defect of any Lot.
stance raise objection. In the event that the Seller cancels the transaction,
the Seller must collect the Lot within 30 days from the date of our notice be- Article 32 Uncertainty of Catalogue
ing dispatched (fees for the packaging and handling shall be paid by the In case that the tone, color, graduation and shape shown in catalogue and/
seller) . In the event the Lot has not been collected within the above period, or any other illustrations, images and advertisements differs from those of the
the Company is authorized to sell the Lot by means of auction or in other original Lot due to print, photograph and other technical reasons, the original
ways under conditions the Company considers appropriate. The Seller holds shall take precedence.
responsibility to collect the net amount of expenses incurred by the Com- Any statement and appraisal in any way (including but not limited to the cer-
pany. tificate, catalogue, slide show and news media) of any Lot made by us and
our employees or their agents are only for reference and should not relied on
Article 26 Taxes as any guarantee for the Lot. We and our employees or agents shall under-
In the case the Seller has a duty to pay a tax to the government of People’s take no liability for any inaccuracy or omission in the statements and apprais-
Republic of China, the Auctioneer should withhold and pay the tax to the als mentioned above.
competent authority in accordance with the relevant laws or administrative
regulations of the People’s Republic of China, and the Auctioneer should de- Article 33 Inspection by Bidders
liver receipt notice of tax payment to the Seller after the Auctioneer has paid We shall undertake no guarantee for the authenticity and/or quality of the Lot.
the tax. The Bidder and/or its agents shall inspect and investigate the actual status of
the Lot and take liability for its bidding.
Article 27 Assistance in Collecting Deferred Payments We strongly advise the Bidders to personally inspect the original Lot on
In the event the Buyer fails to make full payment to us within seven days of which they intend to bid before the Auction Date by identification or other
the Sale Date, we are entitled to recover the remuneration and other Expens- methods. Bidders shall judge whether the Lot is in accord with its description
es payable by the Buyer in accordance with provisions in Article 56 herein by themselves rather than relying on our catalogue and other images and
and to take necessary measures to assist the Seller in collecting deferred advertisements of the Lot.
payments upon the Seller’s request as soon as practicable. However, we
shall have no obligation to sue the Buyer on behalf of the Seller in any cir- Article 34 Registration of Bidders
cumstances. The Bidder shall register and receive a bidding number before the Auction
Date with a valid identity card, or passport or other certificates approved by
Article 28 Our Discretion the People’s Republic of China in the case of a natural person, or with a valid
We may determine the following matters, as the case may be, upon authori- certificate of registration, ID of legal representative or other legal authoriza-
zation of the Seller (at the Seller’s expense) tion certificates in the case of a legal entity or other organization, otherwise it
ᶃ to agree to special terms on how to make the payment of the Purchase will not be deemed as a legal Bidder.
Price;
ᶄ to remove, store and arrange insurance for sold Lot; Article 35 Deposit
ᶅ to settle claims brought by the Buyer or the Seller in accordance with rel- We will charge a deposit before the Bidder receives bidding number. The
evant terms and conditions herein; amount of deposit will be announced before Auction Date. We will refund all
ᶆ to take other necessary steps to collect the deferred payment by the the deposit mentioned above with no interest to the Bidder within five busi-
Buyer to the Seller. ness days after auction in case the Bidder fails in auction. In the event that
the Bidder succeeds at auction, the deposit will be taken as part of the Pur-
Article 29 Unsold Lot chase Price payable by the Buyer and the balance (if any) will be refunded
In the event that the Lot is not sold in its first offering, the Seller shall take at collection.
back the Lot within 30 days after receipt of our notice (packing and shipping