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ଣ͟i   ʞ   ν͉ʮ̡ீཀ"11͜˒၌˙ό೯̈ٙdۆ೯৔຅˚މᘩҳɛʿ൯࢕  CONDITIONS OF BUSINESS FOR BUYERS
 ਗ਼ًرၾቖਯʚ൯࢕຅˚޴ΝdԨঐᔷ୅ՉѼഛהϞᛆ˲Іቖਯ˚ಂܝ  ϗՑ༈ஷٝ˚ಂf
 Ԩೌ̈ତ΂Оୋɧ˙͡॰ʘשርۜৗᒔʚ͉ʮ̡f
  ɧ   Ϟᗫତ˾ʿ຅˾ᖵஔeʕ਷ذ೥˸ʿʕ਷ࣣ೥dᒱ್ͦۃኪஔޢʔ  ୋɧɤɖૢ  ̙ʱ௲׌
 ࢙஢࿁ϤᗳйЪ̈ᆽྼʘႭ׼dШ͉ʮ̡ڭव৤ઋᛆ͉ܲڭᗇШ˸שር  ν͉஝ۆʘ΂Оૢಛא௅ʱΪ΂Оଣ͟஗Ⴉ֛މೌࣖeʔΥجאʔ̙ੂ
 ˚ܝɓϋʫމࠢ՟ऊᗇྼމᑐۜʘତ˾ʿ຅˾ᖵஔeʕ਷ذ೥˸ʿʕ਷  Бd͉஝ۆՉ˼ૢಛא௅ʱʥ್Ϟࣖd޴ᗫ΢˙Ꮠ຅፭ςeੂБf
 ࣣ೥שርۜʘʹ׸iʊ˹ʘಛධ͉ܲૢ஝֛ৗᒔʚ൯࢕dШ൯࢕̀඲ί
 שር˚ৎɓϋʫΣ͉ʮ̡౤Զᗇኽ ͉ܲૢୋ ɚ e ̬ ಛ஝֛ٙ˙ό d  ୋɧɤɞૢ  جܛʿ၍ᒍᛆ
 ᗇྼ༈שርۜމᑐۜi   ɓ   ͉஝ۆʿՉ޴ᗫԫ֝eʹ׸eΪԱ๫͉஝ۆਞ͉̋ʮ̡שርݺਗϾ
  ̬   ͉ʮ̡̙৤ઋӔ֛ᒀеɪࠑ΂О஝֛f͉ʮ̡ϞᛆࠅӋ൯࢕॰՟Շ  ˏৎאၾʘϞᗫٙ΂Оنᙄdѩա࠰ಥجܛ஝၍Ԩ͟࠰ಥجܛ༆ᙑf
           The following provisions may be amended by public notice or verbal notifi cation   incurred in seeking recourse against a defaulting Buyer;
 Τމ͉ʮ̡ʿ൯࢕ᕐ˙ટॶʘዹͭʿБʫႩ̙ਖ਼࢕ʘజѓd൬͜͟൯࢕   ɚ   աՓ׵ୋɧɤɞ€ɧૢٙ஝֛d࠰ಥج৫࿁͉ʮ̡שርݺਗϾˏ  during the auction.  By bidding at the auction, the Bidder agrees to be bound by the   (14)  “Reserve” means the confidential minimum selling price for an Auction
 וዄf͉ʮ̡ೌ඲ա൯࢕̈ͪʘ΂Оజѓה஝ࠢdԨڭवᛆлరӋᕘ̮  ৎאၾʘϞᗫٙ΂Оنᙄ€¨༈نᙄ©ኹϞਖ਼᙮၍ᒍᛆf͉ʮ̡e൯  following provisions.   Property determined by the Seller and the Company;
                                                                (15)  “Estimated Price” means the estimated sales price of an Auction Property
 ʘਖ਼࢕จԈd൬͉͜͟ʮ̡ІБוዄf  ࢕ʿᘩҳɛΝจ࠰ಥج৫މ௰Υቇʿکлٙج৫˸༆Ӕ༈نᙄfΪϤd
           Article 1  China Guardian (Hong Kong) Auctions Co., Ltd. as the Auction Agent  indicated in the catalogue or after other descriptive text, and excluding the
 ΂Оɓ˙ʔึఱϤ౤̈ˀ࿁f  Unless otherwise provided, China Guardian (Hong Kong) Auctions Co., Ltd. shall   Buyer’s Commission;
 ୋɧɤ̬ૢ  ༟ࣘᐏ՟e፽ᅂ   ɧ   ͉ୋɧɤɞ€ɧૢ̥աू׵͉ʮ̡f͉ʮ̡Ϟᛆ׵΂ОՉ˼Ո၍  serve as the Seller’s agent. The contract for the sale of the Auction Property shall   (16)  “Storage Fee” means the charge for storage that the Buyer is required to pay
           be the contract between the Seller and the Buyer. These Conditions, the Conditions   to the Company in accordance herewith.
 ఱ຾ᐄ͉ʮ̡ٙשርุਕ˙ࠦd͉ʮ̡̙ঐ࿁΂Оשርཀ೻ආБ፽ࠪe  ᒍᛆٙج৫ఱ༈نᙄ౤ৎൡதϾʔա΂ОࠢՓfίجܛʪ஢ٙᇍఖʫd  of Business for Sellers, and all other terms, conditions and notices contained in the   2.  As required by the context, the singular of a term herein includes the plural
 ፽ᅂʿা፽d͵ცࠅΣᘩҳɛฤණࡈɛ༟ࣘאΣୋɧ˙॰՟Ϟᗫᘩҳ  ͉ʮ̡̙ί߰ʍ̡ج၍ᒍਜΝࣛආБൡதf  catalogue, announced by the Auctioneer or provided in the auction venue in the   thereof, and vice versa. Unless otherwise required by the context:
           form of an announcement shall constitute the terms agreed among the Seller, the   (i)  the Buyer and the Company are herein collectively referred to as the “Parties”,
 ɛٙ༟ࣘ ԷνΣვБ॰՟ڦ͜ᄲࣨ fவԬ༟ࣘึ͉͟ʮ̡ஈଣԨ˲ڭ
           Buyer and/or China Guardian (Hong Kong) Auctions Co., Ltd. as the auction agent.   and a “Party” refers to either Party;
 ੗dਬϞᗫ༟ࣘϞ̙ঐ࣬ኽ͉஝ۆٙͦٙאՉ̴Υجͦٙd౤Զഗ͉ʮ  ୋɧɤɘૢ  ႧԊ˖͉                   (ii)  Any mention of legal provisions shall be construed as including any future

 ̡e͉ʮ̡ٙʱ௅eڝ᙮ʮ̡eɿʮ̡e͎ʮ̡eʕ਷ྗᅃeʕ਷ྗᅃ  ͉஝ۆ˸ʕ˖މᅺ๟˖͉dߵ˖˖͉މਞϽ˖͉f  Article 2  Definitions and Explanations  amendments to, or re-enactment of, such provisions;
           1.  The following terms herein shall have the meanings assigned to them below:  (iii)  Any mention of “person” shall include natural persons, companies, legal
 ٙʱ௅eڝ᙮ʮ̡eɿʮ̡e͎ʮ̡d˸՘п͉ʮ̡މᘩҳɛ౤Զҁഛ  ߵ˖˖͉νၾʕ˖˖͉Ϟ΂Оʔɓߧʘஈd˸ʕ˖˖͉މ๟f  (1)  “Company” means China Guardian (Hong Kong) Auctions Co., Ltd.;  persons, enterprises, partnerships, individual proprietorships, governmental
 ٙ؂ਕeආБ܄˒ʱؓdא˸ک౤ԶୌΥᘩҳɛࠅӋٙ؂ਕfί͉஝ۆ  (2)  “China Guardian” means China Guardian Auctions Co., Ltd., with its domicile   or social organizations and organizations comprised of more than one of the
              at 3/F, Offi ce Area, Guardian Art Center, No.1 Wangfujing Street, Dongcheng   foregoing;

 ධɨٙʹ׸ҁϓܝ νቇ͜ d͉ʮ̡̙ίجܛ࢙஢ٙΥଣࣛගʫdڭπ  ୋ̬ɤૢ  ஝ۆوᛆהϞ
              District, Beijing, People’s Republic of China;    (iv)  Any mention of “Article” or “Clause” refers to the Articles or Clauses hereof;
 ʿԴ͜ʊϗණٙࡈɛ༟ࣘfνᘩҳɛא൯࢕૧ݟቡʿāאһ͍π׵͉ʮ  ͉஝ۆ͉͟ʮ̡Փࠈձࡌҷd޴Ꮠوᛆᓥ͉ʮ̡הϞf͊຾͉ʮ̡ԫ΋  (3)  “Seller” means any person, company, body corporate or entity that offers   (v)  The headings are provided for ease of reference only, and shall not aff ect the
 ̡ٙࡈɛ༟ࣘd̙ࣣࠦߧՌ͉ʮ̡ ஹΝΥଣٙБ݁൬ ౤̈ϞᗫࠅӋf  ࣣࠦ஢̙d΂Оɛʔ੻˸΂О˙όא˓ݬdл͉͜஝ۆᐏ՟ਠุлूd  Auction Property for sale. Unless otherwise stated or specifi cally required by the   interpretation hereof.
              context, the term “Seller” herein shall include the Seller’s agent (excluding the
 މəᘩҳɛٙᛆूd͉ʮ̡͵̙ঐცࠅΣୋɧ˙؂ਕԶᏐਠ Էν୵༶ʮ  ͵ʔ੻࿁͉஝ۆʘ΂О௅ʱආБልႡeෂ৔אᎷπ׵̙Ꮸ॰ӻ୕ʕf  Company), executor or personal representative;    Article 3  Applicable Scope
 ̡אπࡑʮ̡ ౤Զᘩҳɛٙ௅΅ࡈɛ༟ࣘfᘩҳɛਞၾ͉ʮ̡ٙשርd  (4)  “Bidder” means any person, company, body corporate or entity that   All Bidders, Buyers and other concerned parties participating in the auction of such
              contemplates, makes or attempts a bid in any manner. Unless otherwise stated   collectibles as cultural artifacts, works of art, etc. organized and conducted by the
 уڌͪᘩҳɛΝจɪ˖הࠑfνᘩҳɛ૧ᐏ՟אһҷࡈɛ༟ࣘdሗၾ܄  ୋ̬ɤɓૢ  ቇࣛ͜ಂ
              or specifi cally required by the context, the term “Bidder” herein shall include the   Company shall act in accordance herewith.
 ˒؂ਕ௅ᑌഖf  ͉஝ۆ̥ቇ͜׵͉ϣשርd͉ʮ̡̙ʔࣛһอ͉஝ۆdᘩҳɛձ൯࢕ਞ  Bidder’s agent;
 ၾ̤ɓϣשርٙࣛࡉᏐ˸຅ࣛቇٙ͜൯࢕ุਕ஝ۆމ๟f  (5)  “Buyer” means the Bidder, including the principal of a person bidding as an   Article 4  Special Notice
              agent, the highest bid or off er of whom is accepted by the Auctioneer in the   All Bidders and Buyers participating in the auction by the Company shall carefully
 ୋɧɤʞૢ  وᛆ    auction held by the Company;                      read and abide by these Conditions, and, in particular, they shall carefully read the
 ር࢕બᛆ͉ʮ̡࿁Չ։ৄ͉ʮ̡שርٙ΂ОשርۜႡЪ๫˪eྡͪeྡ  ୋ̬ɤɚૢ  ༆ᙑᛆ  (6)  “Buyer’s Commission” means the commission that the Buyer must pay to the   provisions hereof on the liability of the Company, the restrictive provisions, and the
              Company based on the Hammer Price at the rate specifi ed herein;  disclaimers. The Bidder and/or his or her agent is/are responsible for viewing the
 ፽אՉ˼Җόٙᅂ྅Ⴁۜձ܁ෂۜd͉ʮ̡ԮϞɪࠑ๫˪eྡͪeྡ፽  ˚੬ੂБ͉஝ۆࣛd͉஝ۆٙ༆ᙑᛆ͉͟ʮ̡БԴfν൯࢕eር࢕ၾ͉
           (7)  “Auction Property” means the item(s) that the Seller consigns to the Company   original Auction Properties in person, and shall be legally liable for his or her bidding
 אՉ˼Җόٙᅂ྅Ⴁۜձ܁ෂۜٙوᛆdϞᛆ࿁ՉԱج̋˸ೌᎵԴ͜f  ʮ̡೯͛جܛنᙄdί༆Ӕ༈نᙄࣛd͉஝ۆٙ༆ᙑᛆ͟Ո၍ᒍᛆٙج  for auction and which are auctioned off  at the auction;  on the Auction Properties. The Company may at its own discretion postpone or
 ͊຾͉ʮ̡ԫ΋ࣣࠦΝจd൯࢕ʿ΂Оɛʔ੻Դ͜f͉ʮ̡ʿር࢕ѩԨ  ৫БԴf  (8)  “Auction Date” means, for a particular auction, the date announced by the   cancel any auction due to weather or other reasons and shall not be liable to make

              company on which the auction will offi cially commence;  any compensation to the Bidder.
 ͊Ъ̈שርۜ݊щաوᛆהࠢא൯࢕݊щ՟੻שርۜʘ΂Оوᛆٙ௓ࠑ  (9)  “Sale Date” means the date on which the transaction of an Auction Property
 ʿڭᗇf  و͉˚ಂj    ϋ ˜  ˚  is confi rmed by the striking of the hammer by the Auctioneer or other public   Article 5  Responsibilities of the Bidder and the Company in Respect of the
              indication by the Auctioneer that a transaction has been struck in the auction   Auction Properties
 ͉ʮ̡ήѧj࠰ಥږᙒ༸  ໮ɢᘒʕːɓࢭʞᅽ
              held by the Company;                              1.  The Company’s perception of an Auction Property is partly dependent on the
 ୋɧɤʬૢ  ஷٝ  (10)  “Auctioneer” means the person that the Company designates to preside over   information provided by the Seller, the Company is in no position to and will not
 ᘩҳɛʿ൯࢕ѩᏐਗ਼Չո֛Ϟࣖٙஷৃήѧձᑌഖ˙ό˸ᘩҳ೮া˖  a particular auction;             carry out comprehensive due diligence of the Auction Properties.  The Bidder is
           (11)  “Hammer Price” means the price at which the Auctioneer strikes the hammer,   aware of this and shall be responsible for inspecting and examining the original
 ΁אՉ˼͉ʮ̡Ⴉ̙ٙ˙όѓ͉ٝʮ̡d߰ϞҷᜊdᏐͭуࣣࠦѓٝ  deciding the sale of the Auction Property to the Buyer, or, in the case of a   Auction Properties so as to satisfy himself or herself in respect of those Auction
 ͉ʮ̡f          post-auction transaction, the agreed upon sale price;  Properties which he or she may be interested in.
           (12)  “Purchase Price” means the total amount that the Buyer is required to pay for   2.  All Auction Properties to be sold by the Company are available for viewing by
 ͉஝ۆʕה౤ʿʘஷٝdසܸ˸ڦՌeཥɿඉ΁eෂॆאீཀ͉ʮ̡
               his or her purchase of an Auction Property, including the Hammer Price plus   the Bidder before sale.  Where the Bidder and/or his or her agent  participates
 "11͜˒၌ ¨"11͜˒၌© Җό೯ࣣ̈ٙࠦஷٝf༈ഃஷٝίɨΐࣛග  the Buyer’s Commission, and the taxes, levies, interest and various charges   in bidding, the Bidder shall be deemed as having thoroughly examined the
 ൖމ৔༺j         payable by the Buyer;                               Auction Properties, and to be satisfi ed with the condition of, and the accuracy
           (13)  “Buyer Charges” means the expenditures and expenses relating to the sale of   of the description of, the Auction Properties.
  ɓ  ν݊ਖ਼ɛ৔༺ٙd຅৔ՑϞᗫ˙ʘήѧࣛi  an Auction Property by the Company, including but not limited to the charges   3.  The Bidder confi rms that numerous Auction Properties are of great age and
  ɚ  ν݊˸ඉ੔˙ό೯̈ٙdۆމඉ੔˚ʘܝୋɖ˂i  for insurance, packing, transport, storage and custody that the Company is   of special types, meaning that they are not necessarily sound and free from
               required to purchase in respect of the Auction Property, expenses for testing,   defects.  All Auction Properties are sold “as is” at the time of the auction
  ɧ  ν݊˸ෂॆ˙ό೯̈ٙd຅೯৔ෂॆዚᆽႩ೯̈ࣛi
               investigation, searching or authentication of an Auction Property additionally   (whether or not the Bidder attends the auction in person).  Condition reports
  ̬  ν؈݊˸ཥɿඉ΁Җό೯̈ٙd຅ίཥɿඉ΁া፽ɪᆽႩ೯̈ʘࣛi  requested by the Buyer and additional expenditures and legal expenses   may be provided at the time of viewing the Auction Properties.  Under certain
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