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insurance for the Auction Property he or she purchased once the risks pass to him 7.To off set any amount related to the Auction Property owed by the Buyer to the 3.With respect to contemporary and modern art, Chinese oil paintings and Chinese Article 38 Laws and Jurisdiction
or her. If the Buyer fails to collect the Auction Property within seven days from the Company against any amount owed from any other transaction by the Company, its paintings and calligraphy, although academic circles do not permit the making (1) These Conditions and related matters, transactions and any disputes arising

Sale Date, he or she shall bear all of the relevant costs for storing, handling, insuring, divisions, affi liates, subsidiaries or parent, or China Guardian, its divisions, affi liates, of defi nitive statements in respect thereof at present, the Company reserves the from, or in connection with, participation in the auction conducted by the Company
etc. the Auction Property in question, and he or she shall bear all of the liability subsidiaries or parent to the Buyer; discretion, pursuant to this warranty, to cancel transactions of contemporary and pursuant hereto shall be governed by, and construed in accordance with, the laws
for the Auction Property he or she purchased. Furthermore, notwithstanding the 8.To decide at its discretion to use any monies paid by the Buyer to discharge the modern art, Chinese oil paintings and Chinese paintings and calligraphy that are of Hong Kong.

Auction Property remaining in the custody of the Company or another agent, none amount owed by the Buyer to the Company, its divisions, affi liates, subsidiaries or confi rmed to be forgeries, but only within one year after the Sale Date. The amount (2) The Buyer and the Bidder agree that the Hong Kong courts have exclusive
of the Company, its employees or agents shall be liable for damage to or loss of the parent, or China Guardian, its divisions, affi liates, subsidiaries or parent in connection paid shall be refunded to the Buyer pursuant to this Article, provided that the Buyer jurisdiction to settle any disputes arising out of or in connection with any auctions

Auction Property, regardless of the reason the same arises. with the Auction Property or other transaction; provides to the Company evidence (by the methods set forth in clauses 2 and 4 of conducted by the Company (the “Disputes”).
Article 29 Packing and Shipping 9.To refuse any future bids made by the Buyer or his or her agent, or to charge him this Article) confi rming that the Auction Property is a forgery within one year from the (3) This Article 38.3 is for the benefi t of the Company only. The Buyer and the Bidder
The packing and processing by the employees of the Company of the purchased or her a bid deposit before accepting his or her bids; Sale Date; agree that the Company shall not be prevented from taking any proceedings relating
Auction Property as required by the Buyer shall solely be deemed as a service The Company is aware that the Auction Property is unique and irreplaceable, if either 4.The Company may, at its discretion, decide to waive any of the foregoing to the Disputes in any other courts with jurisdiction. To the extent allowed by law, the
provided by the Company to the Buyer, and the Company may decide at its own the Seller or the Buyer defaults, the payment of damages by one party to another provisions. The Company shall have the right to request that the Buyer obtain, at Company may take concurrent proceedings in any number of jurisdictions.

discretion whether to provide such service. If any losses arise therefrom, they shall not be a suffi cient remedy to the observant party. Accordingly, the Company, his or her expense, reports from two experts acceptable to the Company and the Article 39 Language
shall solely be borne by the Buyer. Under no circumstance shall the Company be the Buyer and the Seller agree that any such breach, the observant party may apply Buyer who are independent and recognized in the industry. The Company shall not The Chinese language version hereof shall be the governing version and the English
liable for damage to glass or frame, box, backing sheet, stand, mounting, inserts, to the court to order specifi c performance, requiring the defaulting party to perform be subject to any report presented by the Buyer, and reserves the right to seek the language version shall be for reference only.
rolling rod or other similar auxiliary object arising for any reason. Furthermore, the his/her obligations under these Conditions or their ancillary documents. opinion of additional experts at its own expense. In the event of a discrepancy between the English language version and the Chinese
Company shall not be liable for any errors, omissions, damage or loss caused by Article 32 Remedies for Delay in Collecting the Auction Property Article 34 Obtaining Information and Video Taking language version, the Chinese language version shall prevail.
the packing company or removal company recommended by the Company to the If the Buyer fails to collect the purchased Auction Property within seven days from With respect to the operation of the Company’s auction business, the Company may Article 40 Ownership of Copyright in the Conditions
Buyer. the Sale Date, the Company shall have the right to take one or more of the following make audio recordings, video recordings or keep a record of any auction process, These Conditions are formulated and shall be revised by the Company, and the
Article 30 Import/Export and Permits measures: and may need to collect personal information from the Bidder or request information relevant copyrights shall vest in the Company. Without the prior written permission
The Buyer shall himself or herself be responsible for securing any relevant import 1.To take out insurance coverage for the Auction Property and/or store the same about the Bidder from third parties (such as requesting a credit review from a bank). of the Company, no one may use these Conditions in any manner or way to obtain
and export, endangered species or other permit for the Auction Property. A failure on Company premises or elsewhere, with all of the costs (including but not limited Such information will be processed and kept confi dential by the Company. However, commercial benefits, and may not take copies of, communicate or store in any
or delay in obtaining any required permit shall not be deemed as grounds for to charging the Storage Fee specifi ed on the Bidder Registration Form from the relevant information may be provided to the Company, its divisions, affiliates, searchable system any part hereof.
cancelling the purchase or delaying payment of the Purchase Price by the Buyer. 31st day following the Sale Date) and/or risks arising therefrom borne by the Buyer. subsidiaries or parent, or China Guardian, its divisions, affiliates, subsidiaries or Article 41 Term of Applicability
The Company shall not bear any liability for the failure to duly complete or submit the In such a case, the Buyer may collect the Auction Property (packing and handling parent in order to assist the Company in providing excellent services to Bidders, These Conditions shall apply solely to the upcoming auction. The Company
required import or export waybill, list or documents. charges, freight and insurance charges, export related charges at the sole expense carrying out client analyses, or providing services that satisfy the requirements of may update these Conditions from time to time. When the Bidder and the Buyer
If the Buyer requests that the Company apply for an export permit on his or her of the Buyer) only after he or she has paid all of the Purchase Price in full; Bidders. Once the sale under these Conditions is completed (if applicable), the participate in another auction, then applicable Conditions of Business for Buyers
behalf, the Company shall have the right to charge him or her a separate service 2.If the Buyer fails to collect the relevant Auction Property by the deadline prescribed Company may save and use the collected personal information within a reasonable shall prevail.
fee for such service. However, the Company does not warrant that such export herein, he or she shall solely be liable for all the risks and expenses arising after the time permitted by law. If a bidder or buyer wishes to access and/or amend his or her Article 42 Right of Interpretation
permit will be issued. Neither the Company nor the Seller gives any representations expiration of such deadline. personal information stored with the Company, he or she may contact the customer During routine performance hereof, the right to interpret these Conditions shall be
or warranties as to whether or not any Auction Property is subject to import/export Article 33 Limited Warranties service department or make the relevant request to the Company in writing (together exercised by the Company. In the event of a legal dispute between the Buyer and
restrictions or any embargo. 1.The general warranties provided to the Buyer by the Company are as set forth with a reasonable administrative fee). For the benefi t of the Bidder, the Company the Company, the right of interpreting these Conditions, when resolving the dispute,
Article 31 Remedies for Non-Payment and Specific Performance below: may also be required to provide certain personal information of the Bidder to third shall be exercised by the competent court.

If the Buyer fails to make payment in full pursuant to these Conditions or any If it is discovered after an Auction Property is sold by the Company that the same party service providers (such as shipping companies or warehousing companies).
payment arrangement agreed with the Company, the Company shall have the right is a forgery, the Company will, in accordance herewith, cancel the transaction and By participating in the auction by the Company, the Bidder indicates that he or she Date of this version: 26th February, 2024
to take one or more of the following measures: refund to the Buyer in the original currency the Hammer price together with the consents to the foregoing. Address of the Company: 5th Floor, Tower One, Lippo Centre, 89 Queensway, Hong
1.If the Buyer fails to pay all of the Purchase Price in full to the Company within 7 Buyer’s Commission paid by the Buyer to the Company in respect of the Auction Article 35 Copyright Kong
days from the Sale Date, the Company shall have the right to engage a third party Property. The Seller authorizes the Company to produce photos, illustrations, a catalogue, or
organization to collect all or part of the outstanding Purchase Price from the Buyer; For the purposes of the foregoing, a forgery, based on the reasonable opinion of other form of video recording of, and publicity materials for, any Auction Property
2.If the Buyer fails to pay the Purchase Price in full within 7 days from the Sale Date, the Company, means such things as a forged work or intentional concealment or that he or she has consigned to the Company for auction, and the Company enjoys
the Company shall have the right to charge interest at the rate 0.03% per day on a fraudulent claim in respect of the source, place of origin, date, production year, the copyrights therein, and has the right to use free of charge or authorize others
the Buyer’s outstanding amount starting from the 8th day after the Sale Date until age, culture or origin, etc. of a work, and a correct description of the foregoing is not to use the same in accordance with the law. Without the prior written consent of
the date on which the Buyer pays the entire amount in full, unless the Buyer and the included in the catalogue (considering any terms of art). Any damage to an Auction the Company, neither the Buyer nor anyone else may use the same. Neither the
Company agree otherwise; Property and/or any manner of restored piece and/or any repaired piece (including Company nor the Seller gives any representations or warranties as to whether the
3.All risks and charges relating to insurance coverage taken out on the Auction repainting or overpainting) shall not be deemed a forgery. Auction Property is subject to copyright or whether the Buyer secures any copyright
Property, removal thereof, or storage thereof, at or from the Company or elsewhere Please note that the foregoing warranty shall not apply if: in the Auction Property.
shall be borne by the Buyer; (1)The information in the catalogue is based on the generally accepted opinions Article 36 Notices
4.To institute a legal action against the Buyer, demanding that he or she compensate of academics and experts on the selling date, or said information in the catalogue The Bidder and the Buyer shall inform the Company of their fixed and valid
it for all the losses incurred as a result of his or her breach of contract, including the indicates that there exist confl icts in such opinions; or correspondence address and contact information by the method specifi ed in the
interest losses arising due to delay in payment or refusal to pay by the Buyer; (2)On the selling date, the only means of proving that the Auction Property in bidding registration documents or other method approved by the Company. In the
5.To exercise a lien on the Auction Property in question and any other Auction question is a forgery is not generally available or recognized at such time, is event of a change, the Company shall be promptly informed thereof in writing.
Property of the Buyer purchased under the auspices of the Company, and any extremely expensive or is impractical; or may already have caused damage to the The notices mentioned herein only refer to written notices sent by post, by email, by
other property or property rights of the Buyer that may be in the Company’s Auction Property or may (in the reasonable opinion of the Company) already have fax or by the Company’s mobile app (“Mobile App”). A notice shall be deemed as
possession for any reason, and all expenses and/or risks arising during the duration caused the Auction Property to lose value; or served at the following times:
of the lien shall be borne by the Buyer. If the Buyer fails to perform all of his or her (3)If, based on its description, the Auction Property has not lost any material value. 1.If served by hand, at the time it reaches the address of the relevant Party;
relevant obligations by the deadline designated by the Company, the Company 2.The period specifi ed by this warranty simply provides the Buyer an exclusive non- 2.If by post, the seventh day after it is posted;
shall have the right to dispose of the subject matter of the lien after issuing notice transferrable benefi t for 5 years after the Sale Date. To lodge a claim based on this 3.If by fax, when transmission is confi rmed by the sending fax machine;
to the Buyer that it is exercising its lien rights and if the Buyer fails to discharge all warranty, the Buyer must: 4.If by email, when delivery is confi rmed by the email record;
outstanding amounts within 30 days after issuance of such notice. If the proceeds (1) notify the Company in writing within three months after the receipt of any 5.A notice sent by the Company through Mobile App shall be deemed to be

from the disposal of the subject matter of the lien are insuffi cient to off set all the information which leads the Buyer to doubt the authenticity or attributes of the received by the Bidder and the Buyer on the date when it is delivered.
monies payable by the Buyer to the Company, the Company shall have the right to Auction Property, specifying the reference number of the Auction Property, the date Article 37 Severability
separately recover the same; on which the Auction Property was purchased and the reasons for believing that the If any provision or part hereof is found invalid, unlawful or unenforceable for any
6.If the Buyer still has not paid all of the Purchase Price in full to the Company within Auction Property is a forgery; reason, the other provisions and parts hereof shall remain valid, and the relevant
90 days from the Sale Date, the Company shall have the right (but shall not be (2)return the Auction Property to the Company in a condition identical to that on parties shall abide by and perform the same.
obliged) to decide, at its absolute discretion, to cancel the transaction or agree to the date on which it was sold to the Buyer, and provided that good title thereto is
cancellation of the transaction by the Seller, and reserves the right to recover all of transferrable and no third party claims have been made in respect thereof since the
the losses suff ered by the Company due to cancellation of the transaction; selling date.