Pao's Family Asian Art Collection Auction II

TERMS & CONDITIONS STUNNING ARTS GALLERY AND AUCTION INC AS AGENT The lots listed in this catalog will be offered by Stunning Arts Gallery and Auction Inc as owner or as agent for consignor(s) subject to the following terms and conditions. By bidding at auction you agree to be bound by these Conditions of Sale. BEFORE THE AUCTION Prospective buyers are strongly advised to personally examine any property in which they are interested before the auction takes place. All lots are sold ?AS IS? and without recourse and neither Stunning Arts Gallery and Auction Inc nor its consignor(s) makes any warranties or representations, express or implied with respect to such lots. No statement, whether written or oral, and whether made in catalog, or in supplements to the catalog, an advertisement, a bill of sale, a saleroom posting or announcement, the remarks of an auctioneer, or otherwise, shall be deemed to create any warranty, representation or assumption of liability. It is the responsibility of prospective purchasers to inspect or have inspected each lot upon which they wish to bid, relying upon their own advisers, and to bid accordingly. BIDDING IN THE SALE Refusal of Admission Stunning Arts Gallery and Auction Inc has the right, at our complete discretion, to refuse admission to the premises or participation in any auction and to reject any bid. Registration before Bidding A prospective buyer must complete and sign a registration form and provide identification before bidding. We require bank or other financial references. Bidding as Principal To bid in person, the bidder will need to register for and collect a numbered paddle before the auction begins. Proof of identity will be required. Should you be the successful buyer of a lot, please ensure that your paddle can be seen by the auctioneer and that it is your number that is called out. All lots sold will be invoiced to the name and address in which the paddle has been registered and cannot be transferred to other names and addresses. When making a bid, a bidder is accepting personal liability to pay the purchase price, including the buyer?s premium, all applicable taxes and all other applicable charges Absentee Bids If the bidder cannot attend the auction, we will be happy to execute written bids on your behalf. Absentee bids in writing must be submitted to Stunning Arts Gallery and Auction Inc at least 24 hours prior to the sale by letter or fax. In the event of identical bids, the earliest received will take precedence. Reserves Each lot may be subject to an unpublished reserve which may be changed at any time by agreement between the auctioneer and the consignor. Auctioneer?s Discretion The auctioneer has the right at his or her absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as he or she may decide, to withdraw any lot, and in the case of error or dispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to re-offer and resell the item in dispute. If any dispute arises after the sale, our sale record is conclusive. Successful Bid The highest bidder acknowledged by the auctioneer will be the purchaser. In the case of a tie bid, the winning bidder will determined by the auctioneer at his or her sole discretion In the event of a dispute between bidders, the auctioneer has final discretion to determine the successful bidder or to re-offer the lot in dispute. AFTER THE SALE Buyer?s Premium In addition to the hammer price, the buyer agrees to pay Stunning Arts Gallery and Auction Inc a buyer?s premium and the applicable sales tax added to the final total. Each lot sold is subject to a premium of 20% of the successful bid price of each lot up to and including $50,000 and 18% on any amount in excess of $50,000 as part of the purchase price. Online bidding is subject to a 23% buyers premium. Deposit The contact information provided by the purchase must be accurate and true. The auctioneer reserves the right to request a deposit to be provided before bidding and will be used against any and all purchases made at the auction. Taxes Unless exempted by law, the buyer is required to pay HST on the total purchase price including buyer?s premium. For international buyers, taxes are not applicable when purchases are shipped out of country. Items shipped out of Ontario, the buyer is required to pay taxes as per the tax status of that province, whether is HST or GST. Payment Immediately after the purchase of a lot, the buyer shall pay or undertake to the satisfaction of the auctioneer with respect to payment of the whole or any part of the purchase price requested by the auctioneer, failing which the auctioneer in his sole discretion may cancel the sale, with or without re-offering the item for sale. The buyer shall pay for all lots within 7 business days from the date of the sale, after which a late charge of 2% per month on the total invoice may be incurred or the auctioneer, in his sole discretion, may cancel the sale. The buyer shall not become the owner of the lot until paid for in full. Items must be removed within 10 days from the date of sale, after which storage charges may be incurred. Each lot purchased, unless the sale is cancelled as above, shall be held by the auctioneer at his premises or at a public warehouse at the sole risk of the buyer until fully paid for and take away. Payment for purchases must be by cash, INTERAC direct debit (Canadian clients in person only), certified cheque (U.S. and Overseas not applicable), bank draft, electronic transfer (fee applies), and VISA or MASTER or AMERICAN EXPRESS card. Should the item not be paid for within the time limit stated, the auctioneer, without limitation of the rights of the consignor and the auctioneer against the buyer, may resell any of the articles affected. Shipping Shipping is provided at the buyers' expense. Stunning Arts Gallery will provide a list of shippers. The purchased items will be released with the buyers' written consent and until payment has been made in full. Shipping, packing and handling is at the entire risk of the buyer. SAG will have no liability of any loss or damage to such items.