Page 180 - 古董珍玩专场一

CONDITIONS OF BUSINESS

Article 36 Our Option The Buyer shall make full payments in a lump sum to us and collect the Lot
We may forbid anyone from participating in auction, admission to the premis- (package and transportation at the Buyer’s expense) within seven days after
es, taking a picture , making a sound recording or making a video recording the Sale Date; otherwise, the Buyer shall be liable for breach of contract.
during auction, as the case maybe.
Article 48 Currency
Article 37 Abnormal Events All payments shall be made in the currency designated by us. In the event
In case of any abnormal events, we have the right to take necessary actions that the Buyer makes payments in currency other than the designated one,
as the case may be. In the case that any dispute arises at auction, we have the currency shall be converted at the rate agreed upon by the Buyer and
rights to mediate and settle. us or at the rate announced by People’s Bank of China one ᶃ business day
prior to the payment. The Buyer shall reimburse us for any bank charges,
Article 38 Bidding as Principal commission and other expenses for converting the currency into RMB.
Any person who bids shall be deemed as principal, unless the Bidder repre-
sents to us a written certificate showing that it is the agent of a principal and Article 49 Passing of Title
is also subject to our approval in written form before Auction Date. The Buyer will acquire ownership of the Lot after having paid the full Pur-
chase Price.
Article 39 Telephone Commission Bids
The Bidder shall attend the auction personally; otherwise it may give us a Article 50 Transfer of Risks
telephone commission in writing to bid on its behalf. We shall have the right After a successful bid, any Lot purchased shall be entirely at the Buyer’s risk
to but no obligation to accept such commission. as early as one of the following conditions is met:
ᶃ the Buyer collects the Lot purchased; or
Article 40 Procedures of Telephone Commission Bids ᶄ the Buyer pays to us full Purchase Price for the Lot; or
The Bidder who intends to give us a telephone commission to bid on its ᶅ expiry of seven days after Sale Date.
behalf shall present us with a written authorization certificate and hand in a
deposit in accordance with the provisions in Article 35 herein within certain Article 51 Collection
period (not later than 24 hours before Auction Date) . The Buyer shall collect the purchased Lot at our Company’s domicile or other
place appointed by us no later than seven days after Sale Date. In case of
Article 41 Non-liability of Telephone Commission Bids failure to do so, the Buyer shall be solely responsible for all risks and losses
Since we charge no fee for bidding on behalf of the Bidder, in the case that of the Lot and bear all expenses for transportation, storage and insurance
the Bidder cannot attend the auction personally, we and our employees shall in connection therewith due to delay. Nevertheless the Lot is still preserved
not be liable for any failure in bidding or any negligence or fault in the tele- by us or any other agents, we and our employees or its agents shall not be
phone commission bids. Bidders shall attend the auction in person to assure liable for any losses and damages of the Lot caused by any reason.
the success of bidding.
Article 52 Package and Transportation
Article 42 Auctioneer’s Discretion We may arrange packing and handling of the purchased Lot on behalf of
The auctioneer is entitled to represent us and to increase or decrease the the Buyer as the case may be on its request and the Buyer shall be liable for
bidding ladder, refuse any bidding, or restart auction in the case of any dis- any loss arising from such arrangements. In no circumstances shall we take
pute arising. any liability for any damages or losses of glass, frames, drawer, bottom mat,
trestle, mounting, insert pages, roller or other similar accessories arising out
Article 43 Screen of Video Images of any reason. In addition, we shall undertake no liability for any fault, omis-
At some auctions, there will be a video screen or other screens in opera- sions, damages or losses caused by the packers or carriers we recommend.
tion for the convenience of Bidders, which is only for reference. However,
there may be errors in amounts, numbers or pictures of the Lot, or in foreign Article 53 Export of Lot
exchange rate on the screen. We shall not be liable for any losses and dam- We will explain in the catalogue or at the auction those Lots which are pro-
ages caused by such errors. hibited to be exported pursuant to the Protection Law of Cultural Relics of the
People’s Republic of China and other relevant laws and regulations.
Article 44 Successful Bid The Buyer shall be responsible for applying for an export license in accor-
When the highest bidding is confirmed by striking the auctioneer’s hammer dance with laws of the People’s Republic of China for the Lot permitted to
or in other public manners, the Bidder with the highest bidding succeeds in be exported pursuant to the Protection Law of Cultural Relics of the People’s
the bid and the sale contract of the Lot between the Buyer and the Seller is Republic of China and other relevant laws and regulations.
concluded.
Article 54 Remedies for Non-payment
Article 45 Auction Record In the case that the Buyer fails to make full payment within the period pro-
We will prepare a written record with respect to the auction signed by the vided in Article 47 herein, we shall be entitled to exercise one or more of the
auctioneer and the recorder. following remedies:
At the auction, the Buyer shall sign the written record showing the successful ᶃ If following a successful bid the Buyer fails to make payment within the
bid after the highest bid is confirmed by striking the auctioneer’s hammer or stipulated period, the Buyer will lose the right to request us to refund the
in another public manner. deposit and we shall keep the deposit. Besides which, the Buyer shall also
undertake any liability may occur in accordance with these Conditions;
Article 46 Remuneration and Expenses ᶄ If within seven days after a successful bid the Buyer fails to pay us the
The Bidder will be deemed as the Buyer of the Lot after succeeding in bid- purchase price, we shall have the right to provide all or part of the data or
ding and shall pay us a remuneration equal to 15% of Hammer Price and information about the Buyer to any third party in cooperation with us for pur-
other Expenses and acknowledge that we are entitled to charge commission poses of entrusting such third party to collect all or part of the default pay-
and other costs payable by the Seller in accordance with Article 21 hereof. ment from the Buyer;
ᶅ charge the Buyer an interest at a rate of three ten-thousandths per day on
Article 47 Payment the due and unpaid amount until such payment is made fully, to the extent