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the bidders and may be revised before the auction. These Article 37. Handling of abnormality Article 47. Payment time
information and materials shall not be deemed as guarantee In case of any abnormality the Company has the right The buyer shall pay in the price of the auction item one-off
of the Company to the authenticity, value, tone, texture and to take corresponding action according to the actual within seven days after conclusion of the auction and take
perfectness of the auction item. situation. In case of any dispute arising out at the auction the object of auction. The buyer shall pay the packaging,
site, the Company has the right to coordinate and solve the handling fees, transport premium and border exit appraisal
Article 31. Uncertainties of catalog problem. fee if any. Otherwise the buyer shall be liable for the default.
In case of any divagation from the original in the catalog
and/or diagram, video and promotion in any form on the Article 38. Bidding as the bidder itself Article 48. Payment currency
tone, color, layer and configuration caused by the technical The bidder shall be deemed as the registered bidder in The payment shall be made in the currency designated by
reasons such as printing or photography, the original shall person unless the bidder has presented the written certificate the Company. In the event the buyer pays in other currency
prevail. Any introduction or appraisal from the Company testifying it is the agent of a bidder and approved by the than the designated one, the payment shall be converted
and its employees or agents to the auction item in any form Company in writing before the auction date. at the exchange rate agreed between the buyer and the
(including certificate, catalog, slide and news carriers) are Company or the exchange rate publicized by the People's
for reference only and shall not constitute any guarantee of Article 39. Bidding authorization Bank of China on the previous working day of the payment
the Company to the auction item. The Company and its day. All the bank charges, commission or other charges the
employees or agents shall not be liable for the inaccuracy or The bidder shall participate in the auction in person. In case Company paid for exchanging the foreign currency into
omission of the introduction and appraisal. the bidder cannot be present at the auction, it may entrust RMB shall be borne by the buyer.
the Company with the bidding in writing. The Company
The publication or record of the quotation the Company has the right to decide to accept the authorization or not.
and its employees or agents made to the auction item in Article 49. Ownership transfer
the introduction is for reference of the bidders only. The The bidder shall go through the authorization procedure The buyer will obtain the ownership of the auction item
Company shall not be liable for offering the original or within the stipulated time (no less than 24 hours before the after paying in the price in full.
duplicate of the record or the other materials and shall auction date), present the written bidding authorization
reserve the right to modify the quotation. letter to the Company and pay in the deposit in accordance Article 50. Risk transfer
with provisions of Article 35.
Article 32. Bidder's scrutiny respon-sibility The bidder shall notify the Company in writing with After successful bidding, the risks of the auction item shall
be borne by the buyer after any of the following condition is
The Company shall not be liable for the authenticity and/or 24 hours in advance before the auction in the event of met (the condition at the earlier date shall prevail):
quality warranty. The bidder and/or its agent is responsible cancellation of the authorization.
for learning the actual condition of the auction item and 1.The buyer takes the purchased auction item; or
shall take legal responsibilities for the deed bidding for an Article 40. Exemption of bidding aut-horization 2.The buyer pay in the price in full to the Company; or
auction item. The Company and its employees shall not bear any 3.The period of seven days from the auction conclusi- on
The Company sincerely suggests that the bidder shall responsibility for the failure of bidding, neglect, mistake date expires.
authenticate or examine in person the original before the or failure of execution of the bidding authorization in the
auction date and judge whether the auction item accords auction because the service is offered free of charge for the Article 51. Auction item taking
with the description other than relying on the catalog and bidders who could not be present at the auction site. The The buyer shall take the purchased auction item within
other video and promotion of the Company. bidder shall be present at the auction in person to ensure seven days from the place designated by the Company.
successful bidding. In the event the buyer fails to take the object within seven
Article 33. Registration of bidder Article 41. Priority principle days after conclusion of the auction, the handling, storage
The bidder, if a natural person, shall fill in and sign the and insurance charges and the other costs in relation to the
registration document with the valid ID/passport or other In the event two or more bidders entrusted the Company object of auction shall be borne by the buyer and the buyer
valid identification certificate acceptable in the P.R.C before with the same price for the same object of auction and the shall bear all the responsibilities of the purchased auction
the auction date; if a legal person or other organization, transaction concludes at the price, the bidder from which item. Even the object of auction is under administration of
shall fill in and sign the registration document with the the Company receives the bidding authorization letter the Company or its agent, the Company and its employees
valid registration certificate, identity certificate of the legal earliest shall be the buyer of the object of auction. or agent shall not be liable for the damage or loss caused by
representative and valid certificate of authorization before any reason.
the auction date; only after fulfilling this step can the bidder Article 42. Decision-making right of auctioneer
get the bidding paddle and take part in the bidding. The auctioneer has the right to increase or decrease the Article 52. Package and transport
bidding scale, refuse any bidding and re-auction the auction The packaging and handling of the object of auction offered
Article 34. Bidding paddle item on behalf of the Company. by the Company's employees shall be deemed as services
It is reminded that the bidding paddle is the only voucher offered by the Company to the buyers only. The Company
for the bidder taking part in the on-site bidding. It shall Article 43. Video display and curre-ncy exchange has the discretion to decide whether to offer the service.
be handled properly and shall not be lent to the others. display Any consequent loss shall be borne by the buyer. Under any
The owner shall go through the loss procedure in writing The Company may use image projection or display in other condition, the Company shall not be liable for the damage
acceptable by the Company once the paddle is lost. forms in the auction to offer convenience for bidders and to the glass, frame, case, cushion, support, mounting,
Whether entrusted by the bidder or not, the bidding the content displayed is for reference only. There may be foldout, scroll head or similar accessories. In addition, the
implemented by the bidding paddle holder at the auction error in the image projection or display in other forms on Company shall not be liable for any mistake, omission,
shall be deemed as acts of the registered bidder. The bidder the number, auction item number, picture or reference damage or loss caused by the packaging company and the
shall take legal responsibilities to the behaviors unless the foreign currency sum and the Company shall not be liable transport company recommended by the Company.
bidder has gone through the loss procedure in writing for any loss caused by the error.
acceptable to the Company and the auctioneer has declared Article 53. Border exit of auction item
cancellation of the bidding paddle at the auction site. Article 44. Auction conclusion In accordance with the Law of the People's Republic of
When the highest price is confirmed through the China on the Protection of Cultural Relics and other laws
Article 35. Bidding deposit auctioneer's hammer or any other way of public and regulations, the Company will explain the objects of
The bidder shall pay in the bidding deposit before getting confirmation, the bidder wins the bidding and becomes auction that are prohibited to leave the territory of China in
the bidding paddle. The specific sum of deposit will be the buyer of the object of auction. The buyer shall sign the the catalog or at the auction site.
publicized by the Company before auction. In the event confirmation letter/the minute of auction. In accordance with the Law of the People's Republic of
the bidder fails to win any bid of the objects of auction, China on the Protection of Cultural Relics and other laws
the deposit will be refunded in full without interests to the Article 45. Minute of auction and regulations, the buyer shall handle the border exit
bidder within five working days after the conclusion of During auction of the Company, the minute of auction will procedure in accordance with the relevant provisions of
auction. In the event the bidder purchases any object of be taken with signature of the auctioneer and the recorder. China for the objects of auction that can be taken out of the
auction and becomes a buyer, the deposit will be taken as After the highest offer is confirmed by the auctioneer territory of China.
part of the purchase payment; in the event of any balance by knocking the hammer or any other way of public
after the purchase, the balance will be refunded to the bidder confirmation, the buyer shall sign on the conclusion record. Article 54. Remediation of unpaid price
when the bidder takes the purchased object of auction. In the event the buyer fails to pay in the price in full in
Article 46. Commission and costs accordance with the provisions of Article 47, the Company
Article 36. Choice of the Company After the bidder wins the bidding, it shall be the buyer of the has the right to take any or several of the following
The Company has the discretion to reject any person to object of auction. The buyer shall pay the Company 15% of measures:
participate in the company-sponsored activities, or to enter the conclusion price as commission and other costs without 1.The bidding deposit will not be refunded and the buyer
the auction site or take photos, audio or video recording at objection to the practice that the Company charges the shall bear the liabilities accordingly in accordance with
the auction site. commission and other costs in accordance with provisions provisions of the rules; in the event the buyer wins several
of Article 21. objects of auction with the same bidding paddle but fails