CONDITIONS OF BUSINESS FOR BUYERS (ONLINE ONLY)

These Conditions of Business for Buyers (Online Only) set out the terms upon which Sotheby’s and the Seller offer the lots for sale to Bidders.

You should read these Conditions of Business for Buyers (Online Only) and the Online Sale Information (including, but not limited to, the Guide to Buying in an Online Only Auction) carefully before placing a bid for any lot. Bidders' attention is specifically drawn to Conditions 3 and 4 below, which require them to investigate lots prior to bidding and which contain specific limitations and exclusions of the legal liability of Sotheby's and Sellers. The limitations and exclusions relating to Sotheby's are consistent with its role as auctioneer of large quantities of goods of a wide variety and Bidders should pay particular attention to these Conditions.

By bidding for a lot in an Online Only Auction on the Online Only Platform, you agree that these Conditions of Business for Buyers (Online Only) and the Online Sale Information shall be contractually binding on you. In the event that you are the successful Bidder for a lot in an Online Only Auction, you agree that these Conditions of Business for Buyers (Online Only) and the applicable Online Sale Information will constitute the contract which governs the relationship between Sotheby’s, Sellers and Bidders.

The nature of the relationship between Sotheby's, Sellers and Bidders and the terms on which Sotheby's (as auctioneer) and Sellers contract with Bidders are set out below.

1. INTRODUCTION

(a) Sotheby’s and Sellers’ contractual relationship with prospective Buyers is governed by:

(i) these Conditions of Business for Buyers (Online Only);

(ii) the Conditions of Business for Sellers (Online Only) a copy of which can be provided to you on request;

(iii) the Online Sale Information (including, but not limited to, the Auction details and the Guide to Buying in an Online Only Auction); and

(iv) Sotheby’s Authenticity Guarantee, as applicable to the item of Property (set out below).

(b) The Online Sale Information will identify the owner of the lot immediately prior to the start of the Online Only Auction as either (i) a third party (in which case, Sotheby’s acts as agent for the Seller) or (ii) Sotheby’s (in which case, Sotheby’s acts in principal capacity as Seller). In the case of (i), Sotheby’s provides services to the Seller including, but not limited to, concluding the sale contract which exists directly between the Seller and the Buyer (with Sotheby’s acting as agent on behalf of the Seller). In the case of (ii), Sotheby’s owns the lot in whole or in part and/or may have a legal, beneficial or financial interest in the lot as a secured creditor or otherwise.

(c) The Online Sale Information will also identify if the Seller is an Online Consumer (and therefore, by inference, not an Online Trader) for the purposes of the Consumer Contracts Regulations. This is important because the Consumer Contracts Regulations provide that if the Seller is an Online Trader and the Buyer is an Online Consumer, the Buyer shall have the right to cancel the purchase of a lot (in accordance with the procedure set out at Condition 12 of these Condition of Business for Buyers (Online Only)). In circumstances where the Seller is an Online Consumer, the right to cancel the purchase of a lot does not apply however the Buyer may have the right (under the Consumer Contracts Regulations) to cancel certain services provided by Sotheby’s in connection with the purchase of the lot (in accordance with the procedure set out at Condition 13 of these Conditions of Business for Buyers (Online Only)).

2. COMMON TERMS IN THESE CONDITIONS OF BUSINESS

In these Conditions of Business:

Bidder is any person considering, making or attempting to make a bid, by whatever means, and includes Buyers;

Buyer is the person who makes the highest bid or offer accepted by the auctioneer, and includes such person’s principal when bidding as agent;

Buyer’s Expenses are any costs or expenses due to Sotheby’s from the Buyer, including an amount in respect of any applicable VAT and duties payable in respect of the sale of the property;

Buyer’s Premium is the commission payable by the Buyer on the Hammer Price at the rates set out in the Buying At Auction Guide plus any applicable VAT;

Counterfeit is as defined in Sotheby’s Authenticity Guarantee;

DIFC means the Dubai International Financial Centre;

GCC means the Gulf Cooperation Council;

Hammer Price is the highest bid accepted by the auctioneer by the fall of the hammer (in the case of wine, as apportioned pro-rata by reference to the number of separately identified items in that lot), or in the case of a post-auction sale, the agreed sale price;

Online Sale Cancellation Period is the period of fourteen (14) days starting on the day after the Online Consumer (or a person, other than the carrier, identified by the Online Consumer) takes physical possession of the lot;

Online Services Cancellation Period is the period of fourteen (14) days starting from the day of conclusion of the contract which relates to provision of the delivery services by Sotheby’s in favour of the Online Consumer;

Online Consumer is an individual located in the European Union who purchases a lot and who is acting for purposes which are wholly or mainly outside that individual’s trade, business, craft or profession;

Online Only Auction is the sale of a lot which is conducted solely by means of the Online Only Platform provided by Sotheby’s and our partners;

Online Only Platform is the online only sale platform and associated technical services provided by Sotheby’s and our partners which is accessible solely by online means and which enables Buyers to bid for and buy lots in a time based auction;

Online Sale Information is the lot information including, but not limited to, any pre-sale estimates; any information regarding provenance; the online catalogue description of the lot; any catalogue available as a PDF on the Sotheby’s website in respect of the Online Only Auction, any condition report provided by Sotheby’s in relation to the lot (with any such condition report being deemed to include the online images of the lot); any other information relating to the lot or the conduct of the Online Only Auction published on the Online Only Platform (including, but not limited to, the Guide to Buying in an Online Only Auction); any on-screen notices relating to the Online Auction;

Online Trader is a person who is the Seller of a lot and is acting for purposes relating to that person’s trade, business, craft or profession;

Purchase Price is the Hammer Price and applicable Buyer’s Premium, VAT and duties;

Reserve is the (confidential) minimum Hammer Price at which the Seller has agreed to sell a lot;

Seller is the person offering a lot for sale including their agent (other than Sotheby’s), executors or personal representatives;

Sotheby’s means Sotheby’s Art Services Limited, a private limited company (with registered number 2388) which has it registered office at Unit 1, Level B2, Gate Village, Building No. 3, DIFC, Dubai, UAE;

Sotheby’s Company means both Sotheby's in the USA and any of its subsidiaries (including Sotheby's in London) and Sotheby's Diamonds S.A. and its subsidiaries (in each case, "subsidiary" having the meaning of Section 1159 of the UK Companies Act 2006); and

UAE means the United Arab Emirates.

VAT is Value Added Tax at the prevailing rate. Further information is contained in the guide to Buying at Auction.

3. DUTIES OF BIDDERS AND OF SOTHEBY’S IN RESPECT OF ITEMS FOR SALE

(a) Sotheby’s knowledge in relation to each lot is partially dependent on information provided to it by the Seller, and Sotheby’s is not able to and does not carry out exhaustive due diligence on each lot. Bidders acknowledge this fact and accept responsibility for carrying out inspections and investigations to satisfy themselves as to the lots in which they may be interested.

(b) Bidders acknowledge that many lots are of an age and type which means that they are not in perfect condition. All lots are offered for sale in the condition they are in at the time of sale in the relevant Online Only Auction. Any reference to condition in the Online Sale Information will not amount to a full description of condition and the absence of any reference to the condition of a lot in the online catalogue description does not imply that the lot is free from faults or imperfections. Condition reports may be available to assist Bidders with assessing the condition of a lot and are for guidance only. The online images of the lot form part of the condition report provided by Sotheby’s. Certain online images of the lot may not accurately reflect the actual condition of the lot. In particular, the online images may represent colours and shades which are different to the lot’s actual colour and shades. The Online Sale Information and/or any condition report relating to the lot may make reference to particular imperfections of the lot but you should note that the lot may have other faults not expressly referred to in the condition report for the lot or shown in the online images of the lot. The condition report may not refer to all faults, restoration, alteration or adaptation because Sotheby’s is not a professional conservator or restorer but rather the condition report is a statement of opinion genuinely held by Sotheby’s. For that reason, Sotheby’s condition report is not an alternative to taking your own professional advice regarding the condition of the lot. Please note that all electrical and mechanical goods are sold on the basis of their artistic and decorative value only, and should not be assumed to be operative. It is essential that prior to any intended use, the electrical system for any lot is checked and approved by a qualified electrician.

(c) The Online Sale Information provided to Bidders in respect of a lot, and any other estimate, whether written or oral, or other report, commentary or valuation, is not a representation of fact but rather is a statement of opinion genuinely held by Sotheby’s. Any estimate may not be relied on as a prediction of the selling price or value of the lot and may be revised from time to time in Sotheby's absolute discretion.

(d) No representations or warranties are made by Sotheby’s or the Seller as to whether any lot is subject to copyright or whether the Buyer acquires copyright in any lot.

(e) Subject to the matters referred to at 3(a) to 3(e) above and to the specific exclusions contained at Condition 4 below, Sotheby’s shall exercise such reasonable care when making express statements in the Online Sale Information (including, but not limited to, the catalogue description and any condition report relating to the lot) as is consistent with the standard of care which a Bidder would reasonably expect from an auction house of Sotheby’s standing taking into account the estimate of the relevant lot and in the light of: (i) the information provided to it by the Seller; (ii) scholarship and technical knowledge; and (iii) the generally accepted opinions of relevant experts, in each case at the time any such express statement is made.

4. EXCLUSIONS AND LIMITATIONS OF LIABILITY TO BUYERS

(a) Sotheby’s shall refund the Purchase Price to the Buyer in circumstances where it deems that the lot is a Counterfeit and each of the conditions of the Authenticity Guarantee has been satisfied.

(b) In light of the matters in Condition 3 above and subject to Conditions 4(a) and 4(e), neither any Sotheby's Company nor the Seller:

(i) is liable for any errors or omissions in information provided to Bidders by Sotheby’s (or any Sotheby’s Company), whether orally or in writing, whether negligent or otherwise, except as set out in Condition 3(f) above;

(ii) gives any guarantee or warranty to Bidders and any implied warranties and conditions are excluded (save in so far as such obligations cannot be excluded by law) other than the express warranties given by the Seller to the Buyer in Condition 2 of the Conditions of Business for Sellers;

(iii) accepts responsibility to any Bidders in respect of acts or omissions (whether negligent or otherwise) by Sotheby’s in connection with the conduct of the Online Only Auction and/or the operation of the Online Only Platform or for any matter relating to the sale the conduct of auctions or for any matter relating to the sale of any lot.

(c) Unless Sotheby’s owns a lot offered for sale, it is not responsible for any breach of these conditions by the Seller.

(d) Without prejudice to Condition 4(b), any claim against Sotheby’s or the Seller by a Bidder is limited to the Purchase Price with regard to that lot. Neither Sotheby’s nor the Seller shall under any circumstances be liable for any consequential losses.

(e) None of this Condition 4 shall exclude or limit Sotheby's liability in respect of any fraudulent misrepresentation made by Sotheby's or the Seller, or in respect of death or personal injury caused by the negligent acts or omissions of Sotheby's or the Seller.

5. REGISTERING TO BID IN AN ONLINE ONLY AUCTION

(a) In order to bid in an Online Only Auction, you must have set up a Verified Account (in accordance with the procedures set out at 5(b) and 5(c) below).

(b) If you have not already bid online in a Sotheby’s sale, you will have to create a Verified Account in order to register for a particular Online Only Auction and to be eligible to bid in that particular Online Only Auction. The registration process requires that you submit your request to open a Verified Account no later than 24 hours prior to the closing of the first lot in the relevant Online Only Auction in which you wish to bid (you will also be required to provide certain information to Sotheby’s as part of the application process) to create a Verified Account, please follow the registration instructions provided at:

www.sothebys.com/accountcreation

(c) If you have already set up a Verified Account, you can sign into the applicable Online Only Auction using your existing username and password. Once you have registered for a particular Online Only Auction, you can submit bids using your existing Verified Account (if you have multiple accounts, you will need to select the account under which you wish to transact in a particular Online Only Auction). To login to your Verified Account, please follow the login instructions provided at:

www.sothebys.com/accountcreation

(d) By registering to bid in an Online Only Auction (whether in an individual capacity or on behalf of a company), you acknowledge and agree that by submitting a bid in an Online Only Auction (i) in your individual capacity, in which case you accept personal liability to pay the amounts identified at Condition 8(b) below as principal and (ii) in your capacity as agent for an identified third party, in which case you accept joint and several liability to pay the Purchase Price with your principal.

(e) In order to set up a Verified Account, you are required to supply the information requested, including valid credit card or other accepted payment method information. Sotheby's has absolute discretion to refuse an application to register for, or bid in, an Online Only Auction. Throughout the registration process, Sotheby’s has absolute discretion to request Bidders to supply such additional information and references as may be required by Sotheby's.

(f) Sotheby’s reserves the right to deactivate your Verified Account at any time prior to, during, or after an Online Only Auction.

6. BIDDING AT AUCTION

(a) Bidding opens at a specified amount (which is below the presale low estimate for the lot) and escalates in bid increments which are set out in the Online Sale Information relating to the lot and which are determined at Sotheby’s discretion). Sotheby’s may vary the amount of the bid increments during the course of an Online Only Auction, at our sole discretion. Bids for a lot may only be submitted between the dates and times specified in the Online Sale Information relating to the applicable Online Only Auction.

(b) An Online Only Auction can be fast moving. Competitive bidding can often escalate very quickly. Once you have set up a Verified Account, you will be able to submit a bid for a lot by entering your maximum bid and clicking the ‘Place Bid’ button which appears at lot level on the Online Only Platform. If you haven’t already registered as a Verified Accountholder, you will be prompted to do so at that point. You will then be asked to review and confirm your maximum bid by pressing ‘Continue to Confirm Bid’ and in doing so your bid is submitted. You accept and agree that a bid is submitted using the ‘Continue to Confirm Bid’ button and increased bids are submitted as set out in (d) below.

If a bid is successfully submitted on a lot in an Online Only Auction from a Bidder’s computer or mobile device, the Bidder irrevocably agrees to pay the amounts identified in Condition 8(b) below, in full. Sotheby’s is not responsible for any errors that the Bidder makes in bidding on a lot.

(c) The Online Only Platform requires that you submit a bid which correlates to one of the increments set out in the bidding increment table which is available to view at lot level.

(d) If you have the leading bid on a lot, you will receive a notification on the Online Only Platform informing you that you are the highest bidder. If you are outbid by another Bidder, you will receive an email notification to inform you accordingly and providing a link to follow to increase your bid. Your updated bid is submitted by pressing ‘Continue to Confirm Bid’.

If you are using the Sotheby’s mobile application then the ‘Quick Bid’ option can also be used to submit a bid by either (i) swiping the ‘Quick Bid’ button all the way to the right of the screen; or (ii) pressing the ‘Quick Bid’ Button and then pressing the ‘Place Bid’ Button.

(e) In the event that you submit a bid for an amount at which a bid has already been accepted, your bid shall be rejected.

(f) Unless Sotheby’s decides to exercise its discretion in accordance with Condition 6(h) below, the highest bid when the lot closes will be the successful Bidder. This means that a contract for sale has been formed between the Seller and the successful Bidder when the lot closes. The successful Bidder will receive an email notification of any successful bid and will be invoiced by Sotheby’s in accordance with Condition 8 below.

(g) The sale record for an Online Only Auction maintained by Sotheby’s will be taken as absolute and final in all disputes. In the event of any discrepancy between the sale record for an Online Only Auction maintained by Sotheby’s and any message or notification provided to you in relation to your bid on a lot and/or the applicable Online Only Auction, the sale record for the Online Only Auction maintained by Sotheby’s shall prevail.

(h) Sotheby’s reserves the right, in our sole and absolute discretion, to

(i) reject, revoke or refuse to accept any bid submitted for a lot using the Online Only Platform even those bids which have previously been accepted;

(ii) to withdraw any lot or cancel the Online Only Auction whether prior to or during the Online Only Auction and Sotheby’s shall have no liability whatsoever in connection with such withdrawal or cancellation; and

(iii) to divide or combine any lots.

(i) A Bidder may cancel a bid placed in an Online Only Auction only if either (A) the description of the lot or the condition report for the lot listed in the e-catalogue has been materially revised after the bid was placed; or (B) a notice regarding the lot has been posted on Sotheby’s website

after the bid was placed. For further information, please contact the Sotheby’s Bids Department in London at bids.dubai@sothebys.com.

7. OPERATION OF THE ONLINE ONLY PLATFORM

(a) Unless otherwise specified, all Lots are offered subject to a Reserve, which shall be no higher than the low presale estimate at the opening time for the applicable Online Only Auction. If any Lot is not subject to a Reserve, the ‘No Reserve’ symbol will be displayed against the Lot in the Online Sale Information. Under no circumstances will the system place any bid on behalf of the Seller at or above the Reserve.

(b) Sotheby’s offers the Online Only Platform as a convenience to its clients and the Online Only Platform shall be operated by Sotheby’s using reasonable care. The application that enables participation in an Online Only Auction via the Online Only Platform is optimized for broadband connectivity (DSL or cable modem). Broadband or other internet capacity constraints, corporate firewalls and other technical problems beyond our reasonable control may create difficulties for some users including, for example, in relation to accessing an Online Only Auction via the Online Only Platform and in maintaining continuity of such access. Sotheby’s will not be liable for any errors or failure by Bidders to place bids using the Online Only Platform via the internet or a mobile device (except where any such error or failure is within Sotheby’s reasonable control) including, without limitation, errors or failures caused by: (i) any loss of connection between Bidders and the Online Only Platform; (ii) a breakdown or fault with the online bidding software or other technical services which relate to the Online Only Platform; and/or (iii) a breakdown or fault with any internet connection, computer, mobile device or system.

(c) As a potential Bidder, you acknowledge and accept that you shall not be given an opportunity to inspect the property prior to bidding in the Online Only Auction.

(d) You acknowledge and accept that Sotheby’s shall have the right in its absolute discretion to reduce the Reserve for any Lot at any time during the Online Only Auction provided this has been agreed with the Seller prior to any such reduction.

8. PAYMENT AND COLLECTION

(a) If you are a successful Buyer of a lot, you will receive by email an invoice from Sotheby’s as soon as reasonably practicable after the final lot in the relevant Online Only Auction closes. In the event of any discrepancy between the any email notifications received by you from the Online Only Platform and the invoice emailed to you by Sotheby’s after the relevant Online Only Auction closes, the invoice prevails. Terms and conditions regarding payment of the invoice are set out below.

(b) Sotheby’s charges a Buyer’s Premium to the Buyer on the Hammer Price for each lot sold. The amount of the Buyer’s Premium is set out in the Guide to Buying in an Online Only Auction above.

(i) the Hammer Price;

(ii) the Buyer’s Premium;

(iii) any other duties, goods, sales or service tax or VAT.

The Buyer of a lot is solely responsible for the payment of any VAT (including, but not limited to, any import VAT), sales tax or value added sales tax, sales or compensating use tax or any other similar tax payable as a result of the sale of a lot. Further information and guidance as to the application of such taxes is provided in the Guide to Buying in an Online Only Auction set out above. For international Buyers, the terms of sale are Delivery Duty Unpaid. [RD1] If you have purchased a lot for delivery outside of Dubai, you acknowledge and agree that it is your responsibility to ascertain and pay all international duties, custom charges, taxes, charges and tariffs owed to the appropriate government entity or that otherwise need to be paid prior to shipment and/or delivery including any third party charges necessary to facilitate shipment.

(c) Any Lot sold in an Online Only Auction may be affected by laws on exports from the country in which it is sold and the import restrictions of other countries. Many countries require a declaration of export for property leaving the country and/or an import declaration on entry of property into the country. Obtaining the necessary permits and/or licences may result in additional costs and subsequent delays. Local laws may prevent you from importing a Lot or may prevent you from selling a Lot in the country which you import into. It is the Buyer's sole responsibility to identify and obtain any necessary export, import, firearm, endangered species or other permit for the lot. Any symbols or notices in the sale catalogue reflect Sotheby’s reasonable opinion at the time of cataloguing and offer Bidders general guidance only. For further guidance on export/import restrictions, please refer to the Guide to Buying in an Online Only Auction set out above.

(d) Without prejudice to Conditions 3 and 4 above, Sotheby's and the Seller make no representations or warranties as to whether any lot is or is not subject to export or import restrictions or any embargoes. The denial of any permit or licence shall not justify cancellation or rescission of the sale contract or any delay in payment.

(e) Unless otherwise agreed, payment of the total amount specified on the purchase invoice for a lot is due by the Buyer immediately following receipt of the Sotheby’s invoice for the relevant purchased lot and in any event no later than 48 hours after receipt of the Sotheby’s receipt (the "Due Date") notwithstanding any requirements for export, import or other permits for such lot. Sotheby’s will only accept payment from the registered Bidder and we cannot change the Buyer’s name on an invoice or reissue the invoice in a name which differs to the name of the registered Bidder. If you are registered to bid as a company, your company will need to pay for any purchases in the name of the company via an accepted payment method. Partial payment of a lot, or payment across multiple credit cards for a single lot, is not permitted. Further information regarding accepted payment methods is set out in the Guide to Buying in an Online Only Auction set out above.

(f) Title in a purchased lot will not pass until Sotheby's has received the total amounts due for that lot in accordance with Condition 8(c) above in cleared funds. Sotheby's is not obliged to release a lot to the Buyer until title in the lot has passed and appropriate identification has been provided, and any earlier release does not affect the passing of title or the Buyer's unconditional obligation to pay the total amounts due for that lot in accordance with Condition 8(b) above.

(g) If you fail to pay us the total amounts due for the purchased lot(s) in accordance with Condition 8(b) above in full by the Due Date, Sotheby’s will be entitled to exercise any of the remedies identified at Condition 9 below.

(h) The Buyer is obliged to arrange collection of purchased lots no later than thirty (30) calendar days after the date of the Online Only Auction. Purchased lots are at the Buyer’s risk (and therefore their sole responsibility for insurance) from the earliest of i) collection or ii) the thirty-first (31st) calendar day after the Online Only Auction. Until risk passes, Sotheby’s will compensate the Buyer for any loss or damage to the lot up to a maximum of the Purchase Price paid. Buyers should note that Sotheby’s assumption of liability for loss or damage is subject to the exclusions set out in Condition 6 of the Conditions of Business for Sellers.[RD2]

(i) For all items stored by a third party and not available for collection from Sotheby’s premises, the supply of authority to release to the Buyer shall constitute collection by the Buyer.

(j) All packing and handling is at the Buyer’s risk. Sotheby’s will not be liable for any acts or omissions of third party packers or shippers.

9. REMEDIES FOR NON-PAYMENT

Without prejudice to any rights the Seller may have, if the Buyer without prior agreement fails to make payment for the lot within five days of the Online Only Auction , Sotheby’s may in its sole discretion (having informed the Seller) exercise one or more of the following remedies:

(a) store the lot at its premises or elsewhere at the Buyer’s sole risk and expense;

(b) cancel the sale of the lot;

(c) set off any amounts owed to the Buyer by a Sotheby’s Company against any amounts owed to Sotheby’s by the Buyer in respect of the lot;

(d) apply any payments made to Sotheby’s by the Buyer as part of the Purchase Price and Buyer’s Expenses towards that or any other lot purchased by the Buyer, or to any shortfall on the resale of any lot pursuant to paragraph (h) below, or to any damages suffered by Sotheby’s as a result of breach of contract by the Buyer;

(e) reject future bids from the Buyer or render such bids subject to the payment of a deposit;

(f) charge interest at 6% per annum above Emirates Interbank Offered Rates (EIBOR) from time to time from the Due Date to the date the Purchase Price and relevant Buyer’s Expenses are received in cleared funds (both before and after judgement);

(g) exercise a lien over any of the Buyer’s property which is in the possession of a Sotheby’s Company. Sotheby’s shall inform the Buyer of the exercise of any such lien and within fourteen (14) days of such notice may arrange the sale of such property and apply the proceeds to the amount owed to Sotheby’s;

(h) resell the lot by auction or private sale, with estimates and reserves at Sotheby’s discretion. In the event such resale is for less than the Purchase Price and Buyer’s Expenses for that lot, the Buyer will remain liable for the shortfall together with all costs incurred in such resale;

(j) commence legal proceedings to recover the Purchase Price and Buyer’s Expenses for that lot, together with interest and the costs of such proceedings on a full indemnity basis; or

(j) release the name and address of the Buyer to the Seller to enable the Seller to commence legal proceedings to recover the amounts due and legal costs. Sotheby’s will take reasonable steps to notify the Buyer prior to releasing such details to the Seller.

10. FAILURE TO COLLECT PURCHASES

(a) If the Buyer pays the Purchase Price and Buyer’s Expenses but fails to collect a purchased lot within thirty (30) calendar days of the Online Only Auction, the lot will be stored at the Buyer’s expense (and risk) at Sotheby’s or with a third party.

(b) If a purchased lot is paid for but not collected within six (6) months of the Online Only, the Buyer authorises Sotheby’s, having given notice to the Buyer, to arrange a resale of the item by Online Only Auction or private sale, with estimates and reserves at Sotheby’s discretion. The proceeds of such sale, less all costs incurred by Sotheby’s, will be forfeited unless collected by the Buyer within two years of the original Online Only Auction.

11. EXPORT AND PERMITS

It is the Buyer’s sole responsibility to identify and obtain any necessary export, import, firearm, endangered species or other permit for the lot. Any symbols or notices in the cataloguing for the lot reflect Sotheby’s reasonable opinion at the time of cataloguing and offer Bidders general guidance only. Without prejudice to Conditions 3 and 4 above, Sotheby’s and the Seller make no representations or warranties as to whether any lot is or is not subject to export or import restrictions or any embargoes. The denial of any permit or licence shall not justify cancellation or rescission of the sale contract or any delay in payment.

12. CANCELLATION OF AN ONLINE ONLY SALE FOR EU CONSUMERS

(a) If the Buyer is an Online Consumer and the Seller is an Online Trader, the Buyer shall have the right to cancel the sale contract which exists directly between the Online Trader (as Seller) and the Online Consumer (as Buyer) during the Online Sale Cancellation Period for any reason provided that (i) the Online Consumer duly informs Sotheby’s during the Online Cancellation Period of their intention to cancel the purchase of the lot; and (ii) the Online Consumer returns the lot to Sotheby’s without undue delay and in any event not later than fourteen (14) calendar days from the day after the Online Consumer has communicated their intention to cancel the purchase of the lot to Sotheby’s.

(b) To exercise the right to cancel the sale contract in relation to a lot, the Online Consumer must inform Sotheby’s (being the company within the Sotheby’s Group and specified in the Online Sale Information which offers to sell the lot either as agent for the Seller or as principal) of their decision to cancel the sale contract by a clear statement (e.g. a letter sent by post, fax or email). Alternatively, the Online Consumer may use the model cancellation form set out below. Provided that the Online Consumer sends the communication to inform the Online Trader of the cancellation prior to the end of the Online Sale Cancellation Period, the Online Consumer will be deemed to have cancelled the sales contract within the Online Sale Cancellation Period.(c) If the Online Consumer cancels the sales contract within the Online Sale Cancellation Period, Sotheby’s will reimburse (without undue delay and in any event within fourteen (14) calendar days after receipt of the returned lot from the Online Consumer within the time frame specified in Condition 12(a)(ii) payments received by Sotheby’s from the Online Consumer (including the Purchase Price and any Standard Online Delivery Costs). Sotheby’s shall not process the reimbursement unless and until the lot is returned to Sotheby’s or you have supplied Sotheby’s with evidence of having returned the lot to us. Please note that lots should be returned to Sotheby’s in the same condition they were received by the Online Consumer or their representative. Sotheby’s will make a deduction from the reimbursement for loss in value of the returned lot, if the loss is the result of unnecessary handling by you.

(d) Sotheby’s will make the reimbursement to the Online Consumer using the same method of payment as the Online Consumer used for the initial transaction, unless expressly agreed otherwise. Sotheby’s will not charge the Online Consumer any fee in connection with processing the reimbursement.

(e) Sotheby’s shall not reimburse the Online Consumer by the amount of any supplementary costs which arise if you chose a type of delivery other than the least expensive type of standard delivery offered by Sotheby’s or any import duties we incur as a result of you returning the lot to us. Sotheby’s is entitled to deduct from the reimbursement the amount of any loss in value of the lot which is caused as a result of unnecessary handling by you.

(f) You shall send back the lot or hand it over to us at such address as we may specify for the purpose, without undue delay and in any event no later than 14 calendar days from the day after which you communicate your cancellation of your purchase of the lot to us. This deadline is met if you send back the lot before the period of 14 calendar days has expired. You will have to bear the direct costs of returning the lot. If we arranged for the lot to be delivered we estimate that the cost of returning the lot by the same means is likely to be similar to the cost of delivery but it is not possible for us to be more accurate as to this cost due to the many variables involved in our worldwide business model and the means by which a return might be made.

13. CANCELLATION OF SERVICES FOR EU CONSUMERS

(a) If the Buyer is an Online Consumer and the Seller is an Online Consumer, the Buyer shall not have the right to cancel the sale contract (in accordance with Condition 12 above). However, the Buyer shall be entitled to cancel the contract for any delivery services which Sotheby’s agrees to provide to the Buyer in connection with your purchase of the lot during the Services Online Sale Cancellation Period without giving any reason.

(b) As a Buyer in an Online Auction, you request Sotheby’s immediately to begin performance of the delivery services during the Online Services Cancellation Period. If you subsequently decide to exercise your right to cancel the provision of services (in accordance with Condition 13(a) above) during the Online Services Cancellation Period, you shall pay to Sotheby’s an amount which is in proportion to the value of the services that have been performed by the time you exercise your cancellation right. Sotheby’s will make any reimbursement due to you without undue delay and in any event, not later than fourteen (14) days after the date on which we are informed about your decision to cancel the services. Sotheby’s will make the reimbursement to the Online Consumer using the same method of payment as the Online Consumer used for the initial transaction, unless expressly agreed otherwise. Sotheby’s will not charge the Online Consumer any fee in connection with processing the reimbursement.

(c) To exercise the right to cancel the contract for delivery services in relation to a purchased lot, the Online Consumer must inform Sotheby’s of their decision to cancel the provision of services by a clear statement (e.g. a letter sent by post, fax or email). Alternatively, the Online Consumer may use the model cancellation form set out below. Provided that the Online Consumer sends the communication to inform the Online Trader of the cancellation prior to the end of the Online Services Cancellation Period, the Online Consumer will be deemed to have cancelled the sales contract within the Online Services Cancellation Period.

Model form of cancellation – sale of goods/provision of services

To: Sotheby’s [insert the name of the company within the Sotheby’s Group and specified in the Online Sale Information]

I/We* hereby give notice that I/We* cancel my/our sale of the following goods [*]/for the provision of the following services [*],

Ordered on [*]/received on [*],

Name of Online Consumer(s):

Address of Online Consumer(s):

Signature of Online Consumer(s) [only if the notification is in hard copy]

Date:

[*] Delete as appropriate

14. BIDDER’S/BUYER’S WARRANTIES

(a) The Bidder and/or Buyer warrants that:

(i) the Bidder and/or Buyer is not subject to trade sanctions, embargoes or any other restriction on trade in the jurisdiction in which it does business as well as under the laws of the European Union, the laws of England and Wales, or the laws and regulations of the United States, and is not owned (nor partly owned) or controlled by such sanctioned person(s) (collectively, “Sanctioned Person(s)”); and

(ii) the funds used for purchase and settlement of the lot(s) are not connected with nor have any link to nor are derived from any criminal activity, including without limitation tax evasion, money laundering, terrorist activities or other criminal activity, and the Bidder/Buyer is neither under investigation, nor has been charged with or convicted of without limitation, tax evasion, money laundering, terrorist activities or other criminal activity.

(b) Where the Bidder is bidding on behalf of another person or acting as agent (in either case, for the purposes of this Condition 14(b), the “Agent”) for another party (the “Principal(s)”), the Agent warrants in its own capacity (in addition to the warranties set out in Condition 14(a)) that:

(i) the Principal(s) is not a Sanctioned Person(s) nor owned (or partly owned) or controlled by Sanctioned Person(s);

(ii) the funds used for purchase and settlement of the lot(s) are not connected with, nor have any link to any criminal activity, including without limitation tax evasion, money laundering, terrorist activities or other criminal activity and that the arrangements between the Agent and the Principal(s) of the lot(s) or otherwise do not, in whole or in part facilitate tax crimes;

(iii) the lot(s) purchased by the Agent or the Principal(s) is not being purchased for the purposes of, or being used in any way connected with, or to facilitate breaches of any applicable tax, anti-money laundering or anti-terrorism laws or regulations;

(iv) the Agent has conducted appropriate customer due diligence on the Principal(s) of the lot(s) in accordance with all applicable anti-money laundering and sanctions laws and regulations and the Agent does not know and has no reason to suspect that the funds used for settlement are derived from or connected with proceeds of any criminal activity including without limitation tax evasion, or that the ultimate buyer(s) is under investigation, or has been charged with or convicted of money laundering, terrorist activities or other criminal activity;

(v) the Agent consents to Sotheby’s relying on the Agent’s customer due diligence, and the Agent will retain for a period of not less than 5 years the documentation evidencing the Agent’s customer due diligence. The Agent will make such documentation promptly available for immediate inspection by an independent third-party auditor upon Sotheby’s written request to do so.

(c) The Bidder and/or Buyer hereby undertakes and warrants that none of the funds used for purchase and settlement will be funded by any Sanctioned Person(s), nor will any party involved in the transaction including financial institutions, freight forwarders or other forwarding agents or any other party be a Sanctioned Person(s) nor owned (or partly owned) or controlled by a Sanctioned Person(s), unless such activity is authorized in writing by the government authority having jurisdiction over the transaction or in applicable law or regulation.

(d) Sotheby’s reserves the right to seek identification of the source of funds received, and to make enquiries about any person transacting with Sotheby’s. If Sotheby’s has not completed its enquiries in respect of anti-money laundering, anti-terrorist financing or other checks as it considers appropriate concerning the Bidder and/or Buyer or the Seller to Sotheby’s satisfaction at its discretion, Sotheby’s shall be entitled either not to complete or to cancel the sale of any lot, as appropriate, and to take any further action required or permitted under applicable law without any liability to the Bidder and/or Buyer.

15. GENERAL

(a) All images and other materials produced for the Online Only Auction are the copyright of Sotheby’s, for use at Sotheby’s discretion.

(b) Notices to Sotheby’s should be in writing and addressed to the department in charge of the sale, quoting the reference number specified on the Auction Details page on Sotheby’s website. Notices to Sotheby’s clients shall be addressed to the last address formally notified by them to Sotheby’s.

(c) Should any provision of these Conditions of Business be held unenforceable for any reason, the remaining provisions shall remain in full force and effect.

(d) These Conditions of Business are not assignable by any Buyer without Sotheby’s prior written consent, but are binding on Buyers’ successors, assigns and representatives. No act, omission or delay by Sotheby’s shall be deemed a waiver or release of any of its rights.

(e) The Contracts (Rights of Third Parties) Act 1999 is excluded by these Conditions of Business and shall not apply to any contract made pursuant to them.

(f) The materials listed in Condition 1(a) above set out the entire agreement and understanding between the parties with respect to the subject matter hereof. It is agreed that, save in respect of liability for fraudulent misrepresentation, no party has entered into any contract pursuant to these terms in reliance on any representation, warranty or undertaking which is not expressly referred to in such materials.

16. DATA PROTECTION

We will hold and process your personal information and may share it with another Sotheby’s Group company for use as described in, and in line with, our Privacy Policy published on our website at www.sothebys.com or available on request by email to enquiries@sothebys.com.

17. LAW AND JURISDICTION

Governing Law These Conditions of Business and all aspects of all matters, transactions or disputes to which they relate or apply (including any online bids in the sale to which these Conditions of Business apply) shall be governed by and interpreted in accordance with English law.

Jurisdiction For the benefit of Sotheby’s, all Bidders and Sellers agree that any dispute arising out of or in connection with all aspects of all matters or transactions to which these Conditions of Business relate or apply shall, at Sotheby’s sole option: (i) be subject to the non-exclusive jurisdiction of the DIFC Courts and all Bidders and Sellers irrevocably submit to the jurisdiction of the DIFC Courts and each waive any objection they may have to disputes arising out of or in connection with these Conditions of Business being heard in the DIFC Courts on the grounds that it is an inconvenient forum (forum non conveniens); or (ii) be referred to arbitration under the Arbitration Rules of the DIFC-LCIA Arbitration Centre, which Rules are deemed to be incorporated by reference into this clause. The seat, or legal place, of arbitration shall be the DIFC. The language to be used in the arbitration shall be English.

Service of Process All Bidders and Sellers irrevocably consent to service of process or any other documents in connection with proceedings in any court by facsimile transmission, personal service, delivery by mail or in any other manner permitted by English law, the law of the place of service or the law of the jurisdiction where proceedings are instituted, at the last address of the Bidder or Seller known to Sotheby’s or any other usual address.

SOTHEBY’S AUTHENTICITY GUARANTEE

If Sotheby’s sells an item which subsequently is shown to be a “counterfeit”, subject to the terms below, Sotheby’s will set aside the sale and refund to the Buyer the total amount paid by the Buyer to Sotheby’s for the item, in the currency of the original sale.

For these purposes, “counterfeit” means a lot that in Sotheby’s reasonable opinion is an imitation created to deceive as to authorship, origin, date, age, period, culture or source, where the correct description of such matters is not reflected by the description in the catalogue (taking into account any Glossary of Terms). No lot shall be considered a counterfeit by reason only of any damage and/or restoration and/or modification work of any kind (including repainting or over-painting).

Please note that this Guarantee does not apply if either:-

(i) the catalogue description was in accordance with the generally accepted opinion(s) of scholar(s) and expert(s) at the date of the sale, or the catalogue description indicated that there was a conflict of such opinions; or

(ii) the only method of establishing at the date of the sale that the item was a counterfeit would have been by means of processes not then generally available or accepted, unreasonably expensive or impractical to use; or likely to have caused damage to the lot or likely (in Sotheby’s reasonable opinion) to have caused loss of value to the lot; or

(iii) there has been no material loss in value of the lot from its value had it been in accordance with its description.

This Guarantee is provided for a period of five (5) years after the date of the relevant Online Only Auction, is solely for the benefit of the Buyer and may not be transferred to any third party. To be able to claim under this Guarantee, the Buyer must:-

(i) notify Sotheby’s in writing within three (3) months of receiving any information that causes the Buyer to question the authenticity or attribution of the item, specifying the lot number, date of the Online Only Auction at which it was purchased and the reasons why it is thought to be counterfeit; and

(ii) return the item to Sotheby’s in the same condition as at the date of sale to the Buyer and be able to transfer good title in the item, free from any third party claims arising after the date of the sale.

Sotheby's has discretion to waive any of the above requirements. Sotheby’s may require the Buyer to obtain at the Buyer’s cost the reports of two (2) independent and recognised experts in the field, mutually acceptable to Sotheby’s and the Buyer. Sotheby’s shall not be bound by any reports produced by the Buyer and reserves the right to seek additional expert advice at its own expense. In the event Sotheby’s decides to rescind the sale under this Guarantee, it may refund to the Buyer the reasonable costs of up to two (2) mutually approved independent expert reports.

IMPORTANT NOTICES

THE SALE IS BEING CONDUCTED IN USD AND ESTIMATES ARE IN USD

LIABILITY FOR LOSS OR DAMAGE FOR PURCHASED LOTS

Purchasers are requested to arrange clearance as soon as possible and are reminded that Sotheby’s accepts liability for loss or damage to lots for a maximum period of thirty (30) calendar days following the date of the Online Only Auction. Please refer to Condition 8 of the Conditions of Business for Buyers.

IMPORTATION OF PERSIAN/IRANIAN WORKS OF ART TO THE U.S

Please note that there may be restrictions on importing certain types of property of Persian/Iranian origin into the US. Clients should enquire with the US Office of Foreign Assets Control (OFAC) regarding the proper importation of items subject to such restrictions. Please check with the Middle Eastern department if you are uncertain as to whether a lot is subject to these or any other restrictions or if you need assistance with such enquiries.

SAFETY AT SOTHEBY’S

Sotheby’s is concerned for your safety while you are on our premises and we endeavour to display items safely so far as is reasonably practicable. Nevertheless, should you handle any items on view at our premises, you do so at your own risk.

Some items can be large and/or heavy and can be dangerous if mishandled. Should you wish to view or inspect any items more closely please ask for assistance from a member of Sotheby’s staff to ensure your safety and the safety of the property on view.

Some items on view may be labelled “PLEASE DO NOT TOUCH”. Should you wish to view these items you must ask for assistance from a member of Sotheby’s staff who will be pleased to assist you. Thank you for your co-operation.

GLOSSARY OF TERMS

The following are examples of the terminology used in this catalogue. Any statement as to authorship, attribution, origin, date, age, provenance and condition is a statement of opinion and is not to be taken as a statement of fact.

Please read carefully the terms of the Authenticity Guarantee and the Conditions of Business for Buyers set out in this catalogue, in particular Conditions 3 and 4.

1 GIOVANNI BELLINI

In our opinion a work by the artist. (When the artist’s forename(s) is not known, a series of asterisks, followed by the surname of the artist, whether preceded by an initial or not, indicates that in our opinion the work is by the artist named.

2 ATTRIBUTED TO GIOVANNI BELLINI

In our opinion probably a work by the artist but less certainty as to authorship is expressed than in the preceding category.

3 STUDIO OF GIOVANNI BELLINI

In our opinion a work by an unknown hand in the studio of the artist which may or may not have been executed under the artist's direction.

4 CIRCLE OF GIOVANNI BELLINI

In our opinion a work by an as yet unidentified but distinct hand, closely associated with the named artist but not necessarily his pupil.

5 STYLE OF…….; FOLLOWER OF GIOVANNI BELLINI

In our opinion a work by a painter working in the artist's style, contemporary or nearly contemporary, but not necessarily his pupil.

6 MANNER OF GIOVANNI BELLINI

In our opinion a work in the style of the artist and of a later date.

7 AFTER GIOVANNI BELLINI

In our opinion a copy of a known work of the artist.

8 The term signed and/or dated and/or inscribed means that in our opinion the signature and/or date and/or inscription are from the hand of the artist.

9 The term bears a signature and/or date and/or inscription means that in our opinion the signature and/or date and/or inscription have been added by another hand.

10 Dimensions are given height before width.

11 Pictures are framed unless otherwise stated.

WAREHOUSE STORAGE, COLLECTION AND SHIPPING INFORMATION – DUBAI

Sale date Thursday 25^th June 2020

Sotheby’s Post Sale Services Department can be contacted by email: uaepostsaleservices@sothebys.com.

Post Sale Storage:

Storage is free of charge until 24 July 2020 only.

All imported items subject to 5% import duty and 5% Import VAT (marked ∑ in the catalogue) will be relocated to Crown Warehouse, for customs inspection, prior to collection or onward shipping. Collection by appointment only from Wednesday 1July2020, subject to Sotheby’s financial release and customs approval having been granted.

Address:

Crown Fine Art

Dubai Investment Park 2

Warehouse 597-607

Street 23 off Street 74

Dubai, United Arab Emirates

Contact: James Campbell. Telephone: +971 (0) 506 536 429. Email: jcampbell@crownww.com

By appointment only, warehouse opening times Sunday - Thursday 0900 - 1700

Collection and Shipping options:

WHEN

LOT CATALOGUE SYMBOL

METHOD

WHERE

CHARGES DUE

1 July 2020

∑ symbol

Client or Agent Collection

Crown Fine Art

By appointment only

Subject to Sotheby’s financial release and customs approval having been granted.

Handling Fee

Customs clearance fee

1 July 2020

∑ symbol International/GCC purchases

Sotheby's shipping

To UAE destinations

To GCC member states

To Outside GCC

Quote on request, to include:

5% GCC import duty + 5% Import VAT, where applicable (UAE/GCC destinations)

Customs clearance

Airfreight / Transportation fees

Packing fees

Storage, where applicable

Transit insurance if required

Please note:

Buyers carrying their own property should contact the Sotheby’s Post Sale Services Department 3-4 working days in advance of flight departure to facilitate this process.

lots will only be released to you or your authorised representative when full and cleared payment has been received by Sotheby’s, appropriate identification has been provided, and a release note has been produced by Sotheby’s Post Sale Services Department. Please ensure that your payment has been cleared prior to collection and that a release note has been forwarded to the storage warehouse by Sotheby’s Post Sale Services Department if your lots have been relocated to Crown.

Shipments arranged via Sotheby’s in accordance with our request can only be made if the purchase has been fully paid including any potential additional costs such as handling and storage charges. You will be emailed the Buyer’s Shipping Quote as soon as is reasonably possible after you are emailed the Buyer’s Invoice. Once you have accepted the Buyer’s Shipping Quote and provided that the purchased Lot and the amount stated in the Buyer’s Shipping Quote have each been paid for in full by the Buyer by the payment deadline stated, Sotheby’s will ship the purchased Lot to the Buyer to the address provided by you on your Verified Account, no later than thirty (30) days from conclusion of the sale contract between the Seller and the Buyer, unless due to circumstances outside of Sotheby’s control or otherwise explicitly agreed. We may not be able to assist with delivery of Purchased Lots to P.O. boxes.

The Buyer is responsible for payment of the Buyer’s Shipping Costs as specified in the Buyer’s Shipping Quote. Although Sotheby’s shall use reasonable efforts to take care when handling, packing and facilitating any shipment of a purchased Lot, Sotheby’s is not responsible for any acts or omissions by any third party retained for these purposes including, without limitation, any packing, shipping or delivery of purchased Lots. Similarly, where Sotheby’s may suggest or recommend any third party handler, packer or carrier if so requested by a Buyer, you acknowledge and agree that Sotheby’s does not accept liability for their acts or omission and you agree to release Sotheby’s from any such liability.

LARA BALADI | JUSTICE FOR THE MOTHERLAND