Page 114 - 韩美林、孙其峰、王子武、石齐、赖少其、黄永玉——现当代六大家作品保真专场

of the Conditions from eighth day after the ceasing of the contract. If the Seller does not collect the Lot
Article 16 Insurance Period
In case of sold of the Lot, the insurance period shall terminate on the earlier expiry of either thirty days within ninety days after the ceasing of the consignment auction contract, the Company has right to deal
after Sale Date or the date when the Buyer collects the Lot. In case of unsold of the Lot, the insurance with according to Article 30 of the Conditions.
period shall terminate upon the expiry of thirty days after the Seller has received the Company’s notice to Article 30 Risks and Losses
take back the Lot. The Seller shall take liability for any risk and/or loss that occurs after the period mentioned above in the
Article 17 Insurance by the Seller case of failed retrieval of the Lot within the designated period.
In the event that the Seller notifi es the Company not to apply insurance for the Lot in writing, it shall In the event that the Seller shall take back the Lot in accordance with the Conditions as a result of
undertake all the risks and the following liabilities (unless otherwise judged by court or arbitration unauctionable Lot, withdrawal by the Seller, unsold Lot, cancellation of transaction by the Seller and
commission) : other circumstances, and the Seller fails to do so, the Company has right to public auction or sell the Lot
(1) to indemnify the Company from and against any claims or actions incurred or brought by any third by a proper way and conditions. The amount, which is arising from forgoing disposal by the Company
party with respect to the losses or damages of the Lot; after deducting all loss, expense (Storage Fee, insurance premium, cartage and notarization fee)
(2) to hold the Company and/or any other parties from and against any losses and expenses in relation incurred, shall be collected by the Seller with no interests.
to the damages and/or losses of the Lot caused by any reason; and If the Seller requires the Company to assist in returning the Lot, whatever deferred collection of the Lot or
(3) to notify the terms of indemnity hereunder to any insurer of the Lot. not, the Seller shall be liable for all risks and/or all losses and bear all expenses. Generally, the Company
Article 18 Uninsured are not responsible for arrangement of transportation insurance unless the Seller specifi cally instructs the
The Company will not be liable for the damages or losses of the Lot caused by natural wear, inherent Company to do so and bears the insurance premium.
flaws, inherent or potential defects, inherent material changes, self-combustion, self-warming, Chapter III Conditions Concerning the Bidder and the Buyer
oxidation, rust, leakage, rat-bite, woodworm, changes in atmospheric (climate, temperature or humidity) Article 31 Catalogue of Lot
conditions, changes in normal water level, or other reasons of natural changes or caused by earthquake, At the auction, the Company will prepare a catalogue to introduce the status of the Lot with words
tsunami, war, actions similar to war, hostile actions, armed confl icts, terrorism, rebellion, coup, strike, and/or pictures for the convenience of Bidders and Sellers. The words, Reference Price, pictures in
riots, or nuclear fi ssion, nuclear fusion, nuclear weapon, nuclear material, nuclear radiation, or radioactive the catalogue and other images and public materials are only references for Bidders and are subject to
pollution. The Company will also not take responsibility for any damages to or any losses of frames, revision before auction. The Company provides no guarantee for the authenticity, value, tone, quality or
glass, drawer, bottom mat, trestle, mounting, insert pages, roller or other similar accessories caused by for any fl aw or defect of any Lot.
any reason. Article 32 Uncertainty of Catalogue
Article 19 Insurance Indemnity In case that the tone, color, graduation and shape shown in catalogue and/or any other illustrations,
Any damages or losses of the Lot caused by incidents or disasters covered by insurance the Company images and public materials diff ers from those of the original Lot due to print, photograph and other
purchased for the Lot shall be handled in accordance with Chinese laws and regulations regarding technical reasons, the original shall take precedence.
insurance. The Company shall pay insurance indemnities after deducting all expenses incurred by the Any statement and appraisal in any way (including but not limited to the certifi cate, catalogue, status
Company (except for commissions) to the Seller after the Company obtains such indemnities from the explanation, slide show and news media) of any Lot made by the Company and its employees or its
insurance company. agents are only for reference and should not relied on as any guarantee for the Lot. The Company and
Article 20 Non-Bidding its employees or agents shall undertake no liability for any inaccuracy or omission in the statements and
The Seller shall not bid for the Lot consigned to the Company by himself/herself/itself, nor authorize any appraisals mentioned above.
other person to bid on his/her/its behalf. The Seller shall be liable for and indemnify the Company for any The publications quoted in any explanation of the Lot by the Company and its staff or its agent are only
losses and damages caused by violation of this provision. reference for the Buyer. The Company shall not provide the original or copy of such publications and
Article 21 Commission and Expenses other materials, and reserve the right to modify such quotation in explanation.
Unless otherwise agreed upon by the Seller and the Company, the Seller shall authorize the Company to Article 33 Inspection by Bidders
deduct 10% of the Hammer Price as commission and any other Expenses. The Company especially declares that the Company cannot guarantee the genuineness or fakery or
The Seller agrees that the Company is entitled to the Buyer’s commission equal to 15% of the Hammer the quality of the Lot, and the Company shall not bear the liability for guaranteeing the drawbacks. The
Price and other Expenses payable by the Buyer in accordance with provisions in Article 46 of the Bidder and/or his/her/its agents shall inspect and investigate the actual status of the Lot and take liability
Conditions. for his/her/its bidding.
Article 22 Service Fee for Unsold Lot The Company strongly advises the Bidders to personally inspect the original Lot on which they intend
In case of unsold of the Lot due to bidding lower than the Reserve, the Seller shall authorize the to bid before the Auction Date by identifi cation or other methods. Bidders shall judge the genuineness
Company to charge the Seller a service fee for unsuccessful auctioning equal to 3% of the Reserve and or fakery or the quality of the Lot by themselves rather than relying on the Company’s catalogue, status
other expenses payable by the Seller. explanation and other images and public materials of the Lot.
Article 23 Payment Proceeds of Sale Article 34 Registration of Bidders

In the case that the Buyer makes full payment to the Company in accordance with provisions in Article The Bidder shall register, check-in and receive a paddle affi xed with number before the Auction Date, in

47 herein, the Company shall pay the Proceeds of Sale to the Seller in RMB currency after thirty-fi ve accordance with the condition and procedure for the paddle affi xed with number as announced by the
days from the Sale Date. Company, with a valid identity card, or passport or other certifi cates approved by the People’s Republic
Article 24 Deferred Payment of China and other materials required by the Company in the case of a natural person, or with a valid
In the case that the Company do not receive the full payment from the Buyer upon the expiry of the certifi cate of registration, ID of legal representative or other legal authorization certifi cates and other
payment period under Article 47 herein, the Company will pay the Sale Proceeds to the Seller within materials required by the Company in the case of a legal entity or other organization.
seven working days (meanwhile such payment should be made after thirty-fi ve days of Sale Date as well) Article 35 Paddle Affixed With Number

after receipt of full payment from the Buyer. The Company will announce the condition and procedure to deal with the paddle affi xed with number by

Article 25 Cancellation the Bidder before the Auction Date, including but not limited to require qualifi cations of the Bidder for the
In the event that the Buyer does not make full payment to the Company within ninety days of the Sale paddle affi xed with number, in accordance with diff erent conditions and manners of auction.

Date, the Seller has right to cancel the transaction after giving the Company a notice in writing and The Company seriously notices that the paddle affi xed with number is the only evidence of the Bidder’s

receiving prior approval from the Company. A cancellation notice is to be dispatched to the Buyer participation in bid. Each Bidder shall take good care of his or her paddle affi xed with number and may

within seven working days after such decision approving the cancellation as made by the Company. In not lend it to any third person. In case of losing such paddle, the Bidder shall go through the procedure
the event that the Buyer makes full payment and/or fi nishes collection procedure before the service of for report of losing in the form of writing agreed by the Company.
the cancellation notice of the Seller to the Company, such notice should be deemed to be terminated The person holding the paddle is deemed to be the registered owner of the paddle, whatever he/or she
automatically, and the transaction is to be carried out in accordance with regulations stipulated in is entrusted by the Bidder or not. The Bidder shall be liable for using his or her paddle bid in the auction
Article 24, under which the Seller should cooperate with the Company and under no circumstance process, unless the Bidder goes through the procedure for report of losing in the form of writing agreed

raise objection. In the event that the Seller cancels the transaction, the Seller must collect the Lot within by the Company and such paddle affi xed number has been cancelled by the auctioneer’s announcement
thirty days from the date of the Company’s notice being dispatched (fees for the packaging charge and in the auction process.
cartage shall be paid by the Seller) . In the event the Lot has not been collected within the above period, Article 36 Guarantee Money

the Seller shall pay the Company Storage Fee according to the standard set forth in Article 2 (15) of the The Company will charge a guarantee money before the Bidder receives paddle affi xed with number.
Conditions from eighth day after the ceasing of the contract. If the Seller does not collect the Lot within The amount of guarantee money will be announced before Auction Date. The Company will refund all
ninety days after the foregoing time limit, the Company has right to deal with according to Article 30 of the guarantee money mentioned above with no interest to the Bidder within fi ve working days after
the Conditions. auction in case that the Bidder fails in auction. In the event that the Bidder becomes to be the Buyer,
Article 26 Claim on Behalf of the Seller the guarantee money will automatically turn to be deposit as part of the Purchase Price payable by the
If the Buyer does not fully pay the Purchase Price, and the Seller requires the Company to claim for the Buyer.
outstanding payment on behalf of the Seller to the Buyer, the Seller shall undertake reasonable expense Article 37 The Company’s Option
arising from it (including but not limited to litigation costs and attorney fee) . The Company may forbid anyone from participating in auction, admission to the premises, taking a
Article 27 Taxes picture, making a sound recording or making a video recording during auction, as the case maybe.
In the case that the Seller has a duty to pay a tax to the government of People’s Republic of China, the Article 38 Abnormal Events
auctioneer should withhold and pay the tax to the competent authority in accordance with the relevant In case of any abnormal events aff ecting the success of the auction process, the Company has the right
laws or administrative regulations of the People’s Republic of China, and the auctioneer should deliver to take necessary actions as the case may be, even terminate the auction process. In the case that any
receipt of tax payment to the Seller after payment of the tax. dispute arises at auction, the Company has right to mediate and settle.
Article 28 The Company’s Discretion Article 39 Bidding as Principal
The Company may determine the following matters: Any person who bids shall be deemed as principal, unless the Bidder represents to the Company a
(1) to agree to special conditions of the payment of the Purchase Price; written certifi cate showing that it is the agent of a principal and is also subject to the Company’s approval
(2) to remove, store and apply for insurance for sold Lot; in written form before Auction Date.
(3) to settle claims brought by the Buyer or the Seller in accordance with relevant terms and conditions Article 40 Authorized Bids
herein; The Bidder shall attend the auction personally; otherwise it may give the Company an authorization in
(4) to take other necessary measures to collect the outstanding payment by the Buyer to the Seller. writing to bid on his/her/its behalf. The Company shall have the right to but no obligation to accept such
Article 29 Unsold Lot authorization.
In the event that the Lot is not sold, the Seller shall take back the Lot within thirty days after receipt of The Bidder who intends to give the Company an authorization to bid on his/her/its behalf shall present
the Company’s notice (packing charges and cartage at the Seller’s own expense) and pay the Company the Company with a written authorization letter and hand in guarantee money in accordance with the
fees for failed auction and all other expenses. The consignment auction contract between the Seller and provisions in Article 36 herein within certain period (not later than twenty-four hours before Auction Date) .
the Company will cease on the date of collection of the Lot by the Seller. If during the abovementioned The Bidder who entrusts the Company to bid on his/her/its behalf shall inform the Company of bid
period the Seller fails to collect the Lot, the consignment auction contract will automatically cease. If cancellation in writing not later than twenty-four hours before Auction Date.
within seven days after the ceasing of the consignment auction contract, the Seller does not collect the In the event that the Bidder entrusts the Company to bid on his/her/its behalf, such biding outcome and
Lot, the Seller shall pay the Company Storage Fee according to the standard set forth in Article 2 (15) relevant liabilities shall be borne on the Bidder.