These Terms of Sale set out the terms under which Sotheby’s Hong Kong Limited (“Sotheby’s”) will sell the Bonsai to you (the “Property”).
1. Title to the Property will pass, and the Property will be released to you upon receipt by Sotheby’s of the Total Purchase Price in full in cleared funds.
2. You shall become solely responsible for care and insurance of the Property upon Sotheby’s receipt of the Total Purchase Price for the relevant item in full in cleared funds.
You acknowledge that (i) until the completion of the sale the Seller will be liable for any loss or damage to the Property and (ii) Sotheby’s will have no liability whatsoever for any loss or damage to the Property, whether before or after the sale.
3. After the close of the Exhibition on June 30th 2014, the Property will be stored at the premises of Wing Tak Hing (Holdings) Limited located at House 25, Shatin Knoll, 83 Ma Ling Path, Kau To Shan, Shatin, New Territories where it will remain until it is released to you. If you fail to collect a purchased item within thirty (30) calendar days after the date of the sale, the item will be stored at your expense and risk with a third party at a cost of HK$800 per day.
Upon receipt of the Total Purchase Price and any applicable storage charges from you, you agree that Sotheby’s will pass your name and address to Wing Tak Hing (Holdings) Limited in order to arrange the transport for the purchased item of Property. You are obliged to arrange collection of purchased item, at your expense, immediately after the sale but in any event not later than 4.30p.m. on Wednesday, July 30th 2014. Collection of the Property will be subject to prior arrangements with Sotheby’s; please contact Yuritzi Hernández R., Yuritzi.Hernandez@sothebys.com, tel. +852 2822 5594.
4. You shall be solely responsible for the payment of any import taxes or duties that may be due on the import of the Property into any jurisdiction where you may choose to ship the Property following your purchase of the Property. Please refer to Important Notices below for information about exportation restrictions applying to Bonsai.
5. The Property is sold “as is”, with all faults, imperfections and errors of description. Sotheby’s shall not be responsible for errors of description or for the genuineness or authenticity of the Property nor makes any representations or warranties with respect to merchantability, fitness for a particular purpose, the physical condition, size, quality, rarity, genuineness, attribution, age, importance, provenance, restoration, exportability, exhibitions, literature or historical relevance of the Property and no statement anywhere, whether oral or written, shall be deemed such a representation or warranty. Sotheby’s assumes no responsibility for the correctness of any catalogue or other description of the Property.
6. The Seller of the Property has warranted in respect of the Property (for the benefit of Sotheby’s and the purchaser) in particular that:
(a) they provided Sotheby’s with true and accurate information regarding ownership, condition, authenticity, attribution, size, age, quality, rarity, importance, provenance, exhibitions, literature or historical relevance of each item of Property;
(b) the Property is not suffering from any damage, illness or disease, including but not limited to: (i) fungal diseases affecting the roots, trunk, branches or foliage including root rot or other otherwise hidden diseases including but not limited to honey fungus; (ii) soil, tree based or airborne pests affecting the roots, trunk, branches or foliage including but not limited to greenfly, whitefly, blackfly, red spider mite, scale insects, adelgids, vine weevils or any other visible or invisible pests; or (iii) damage that may have been caused by recent styling or other maintenance work that may cause damage or potential damage to the health and vigour of the Property in general, including but not limited to damage to the normal flow of sap caused by pruning to the foliage or branches (perhaps leaving open wounds that may become infected or be attacked by pests in poor conditions) or over-zealous pruning of evergreens leaving too little foliage, or styling with wire (damage to the bark such as ring barking);
(c) the Property has not been exposed to natural or un-natural potentially damaging extremes of temperature or conditions, including excess damp, drought, heat or cold;
(d) the Property is not suffering and will not suffer from in the near future damage to the root ball;
(e) the Property has been potted in the most suitable compost or soil conducive to vigorous growth and promotion of health, such as calcifruges (lime hating plants) being planted into the correct lime free soils;
(f) the Property has been given an appropriate amount of fertilizer that will only promote and maintain general vigour and health rather than cause possible chemical poisoning or other damage such as osmosis and associated damage to the roots and so the general health and vigour of the Property; and
(g) the Property has sufficient root systems and adequately healthy and vigorous sap flows to maintain and support the growth of the Property as a whole.
The Seller has agreed to indemnify Sotheby's and the purchasers against any loss or damage resulting from (i) any breach or alleged breach of any of the Seller’s representations or warranties, (ii) the sale or transfer of the Property, (iii) the death or injury to the Property.
In order to fulfil the services you have requested, Sotheby's may disclose information to third parties (e.g. shippers). Some countries do not offer equivalent legal protection of personal information to that offered within Hong Kong. It is Sotheby's policy to require that any such third parties respect the privacy and confidentiality of our clients' information and provide the same level of protection for clients' information as provided within Hong Kong, whether or not they are located in a country that offers equivalent legal protection of personal information. By signing this Agreement, you agree to such disclosure. Clients can prevent the use of their personal information for marketing purposes by ticking this box or by contacting us at +852 2822 8142.
7. This Agreement shall be governed by and construed and enforced in accordance with Hong Kong law. In the event of a dispute hereunder, you agree to submit to the jurisdiction of the Courts of Hong Kong in favour of Sotheby’s. This Agreement shall be binding upon your heirs, executors, beneficiaries, successors and assigns, but you may not assign this Agreement without our prior written consent. This Agreement represents the entire agreement between you and Sotheby’s concerning the sale of the Property and neither party may amend or supplement any provision other than in writing signed by each party.