Page 50 - 嘉享——生活尚品

CONDITIONS OF BUSINESS FOR BUYERS

The following provisions may be amended by public notice or verbal notifi cation against a defaulting Buyer;
during the auction. By bidding at the auction, the Bidder agrees to be bound by the (14)“Reserve” means the confi dential minimum selling price for an Auction Property
following provisions. determined by the Seller and the Company;
Article 1 China Guardian (Hong Kong) Auctions Co., Ltd. as the Auction Agent (15)“Estimated Price” means the estimated sales price of an Auction Property
Unless otherwise provided, China Guardian (Hong Kong) Auctions Co., Ltd. shall indicated in the catalogue or after other descriptive text, and excluding the Buyer’s
serve as the Seller’s agent. The contract for the sale of the Auction Property shall Commission;
be the contract between the Seller and the Buyer. These Conditions, the Conditions (16)“Storage Fee” means the charge for storage that the Buyer is required to pay to
of Business for Sellers, and all other terms, conditions and notices contained in the the Company in accordance herewith.
catalogue, announced by the Auctioneer or provided in the auction venue in the 2.As required by the context, the singular of a term herein includes the plural thereof,
form of an announcement shall constitute the terms agreed among the Seller, the and vice versa. Unless otherwise required by the context:
Buyer and/or China Guardian (Hong Kong) Auctions Co., Ltd. as the auction agent. (i)the Buyer and the Company are herein collectively referred to as the “Parties”, and

Article 2 Definitions and Explanations a “Party” refers to either Party;
1.The following terms herein shall have the meanings assigned to them below: (ii)Any mention of legal provisions shall be construed as including any future
(1)“Company” means China Guardian (Hong Kong) Auctions Co., Ltd.; amendments to, or re-enactment of, such provisions;
(2)“China Guardian” means China Guardian Auctions Co., Ltd., with its domicile at (iii)Any mention of “person” shall include natural persons, companies, legal persons,

3/F, Offi ce Area, Guardian Art Center, No.1 Wangfujing Street, Dongcheng District, enterprises, partnerships, individual proprietorships, governmental or social
Beijing, People’s Republic of China; organizations and organizations comprised of more than one of the foregoing;
(3)“Seller” means any person, company, body corporate or entity that off ers Auction (iv)Any mention of “Article” or “Clause” refers to the Articles or Clauses hereof;
Property for sale. Unless otherwise stated or specifi cally required by the context, (v)The headings are provided for ease of reference only, and shall not affect the
the term “Seller” herein shall include the Seller’s agent (excluding the Company), interpretation hereof.
executor or personal representative; Article 3 Applicable Scope
(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
or specifi cally required by the context, the term “Bidder” herein shall include the Company shall act in accordance herewith.
Bidder’s agent; Article 4 Special Notice
(5)“Buyer” means the Bidder, including the principal of a person bidding as an agent, All Bidders and Buyers participating in the auction by the Company shall carefully
the highest bid or off er of whom is accepted by the Auctioneer in the auction held read and abide by these Conditions, and, in particular, they shall carefully read the
by the Company; provisions hereof on the liability of the Company, the restrictive provisions, and the
(6)“Buyer’s Commission” means the commission that the Buyer must pay to the disclaimers. The Bidder and/or his or her agent is/are responsible for viewing the
Company based on the Hammer Price at the rate specifi ed herein; original Auction Properties in person, and shall be legally liable for his or her bidding
(7)“Auction Property” means the item(s) that the Seller consigns to the Company for on the Auction Properties. The Company may at its own discretion postpone or
auction and which are auctioned off at the auction; cancel any auction due to weather or other reasons and shall not be liable to make
(8)“Auction Date” means, for a particular auction, the date announced by the any compensation to the Bidder.

company on which the auction will offi cially commence; Article 5 Responsibilities of the Bidder and the Company in Respect of the
(9)“Sale Date” means the date on which the transaction of an Auction Property is Auction Properties
confi rmed by the striking of the hammer by the Auctioneer or other public indication 1.The Company’s perception of an Auction Property is partly dependent on the
by the Auctioneer that a transaction has been struck in the auction held by the information provided by the Seller, the Company is in no position to and will not carry
Company; out comprehensive due diligence of the Auction Properties. The Bidder is aware
(10)“Auctioneer” means the person that the Company designates to preside over a of this and shall be responsible for inspecting and examining the original Auction
particular auction; Properties so as to satisfy himself or herself in respect of those Auction Properties
(11)“Hammer Price” means the price at which the Auctioneer strikes the hammer, which he or she may be interested in.
deciding the sale of the Auction Property to the Buyer, or, in the case of a post- 2.All Auction Properties to be sold by the Company are available for viewing by
auction transaction, the agreed upon sale price; the Bidder before sale. Where the Bidder and/or his or her agent participates in
(12)“Purchase Price” means the total amount that the Buyer is required to pay for his bidding, the Bidder shall be deemed as having thoroughly examined the Auction
or her purchase of an Auction Property, including the Hammer Price plus the Buyer’s Properties, and to be satisfied with the condition of, and the accuracy of the
Commission, and the taxes, levies, interest and various charges payable by the description of, the Auction Properties.
Buyer; 3.The Bidder confi rms that numerous Auction Properties are of great age and of
(13)“Buyer Charges” means the expenditures and expenses relating to the sale of special types, meaning that they are not necessarily sound and free from defects.
an Auction Property by the Company, including but not limited to the charges for All Auction Properties are sold “as is” at the time of the auction (whether or not the
insurance, packing, transport, storage and custody that the Company is required Bidder attends the auction in person). Condition reports may be provided at the
to purchase in respect of the Auction Property, expenses for testing, investigation, time of viewing the Auction Properties. Under certain circumstances, the catalogue
searching or authentication of an Auction Property additionally requested by the descriptions and condition reports may serve as reference about certain defects
Buyer and additional expenditures and legal expenses incurred in seeking recourse in the Auction Properties. Nevertheless, the Bidder should note that the Auction