28 August 2020 • 4:00 AM GMT • Hong Kong
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28 August 2020 • 4:00 AM GMT • Hong Kong
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Please note that as of August 1st 2020, Overhead Premium, a fee payable by all auction buyers in our global salerooms and online sales, will be charged at 1% of the hammer price plus any applicable local taxes. It is an allocation of the overhead costs relating to our facilities, property handling and other administrative expenses. This fee and our Buyer’s Premium rates exclude local taxes and any applicable artist’s resale right.
To celebrate its 150th anniversary, the Tung Wah Group of Hospitals (TWGHs) is going to organize the Skateboard Deck Art Online Exhibition cum Charity Auction, fully supported by Sotheby’s Hong Kong, showcasing nearly 60 lots of ingenious skateboard deck art designed by renowned artists and celebrities from China, Hong Kong and Taiwan, as well as TWGHs i-dArt artists.
Each lot is unique and exclusively produced for this charity event only. The Online Charity Auction from 18 to 28 August 2020 is to raise funds in support of TWGHs students’ art and music education.
Please note that for this charity auction, Sotheby’s will donate all buyer’s premium and overhead premium to Tung Wah Group of Hospitals in support of the good cause.
For assistance with bidding and registration, please contact:
+852 2524 8121
For all enquiries please contact:
+852 2822 9007
Sotheby’s Hong Kong Gallery Team
+852 2886 7887
GUIDE TO BUYING IN AN ONLINE ONLY AUCTION
The following guidance is intended to give you useful information on how to buy in an Online Only Auction. We recommend that you read the guidance below carefully in order to familiarize yourself with the way that the Online Only Platform works before you start to participate in an Online Only Auction. It is also important that you read the Conditions of Business for Buyers (Online Only) which are set out below and note that Sotheby’s acts for the seller; you should refer in particular to Conditions 3 and 4 of the Conditions of Business for Buyers (Online Only). Terms defined in this Guide shall have the same meaning as in the Conditions of Business for Buyers (Online Only) unless the context otherwise requires.
1. REGISTER A VERIFIED ACCOUNT WITH SOTHEBY'S
In order to be eligible to participate in an Online Only Auction, you must have registered, and maintain, a Verified Account. The registration process requires you to enter your debit card or credit card information, your address and to confirm that you have read and accept our Conditions of Business for Buyers (Online Only), the Authenticity Guarantee and this Guide to Buying in an Online Only Auction. In order to bid in an Online Only Auction, you must be registered as a Verified Accountholder 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). Further details about how to become a Verified Accountholder are set out in Condition 5 of the Conditions of Business for Buyers (Online Only).
Once you have completed the registration process to become a Verified Accountholder, you can sign into the applicable Online Only Auction using your own username and password. To log in to your Verified Account, please follow the login instructions provided at:
2. BROWSE THE LOTS FOR SALE IN THE ONLINE ONLY AUCTION
Once the relevant Online Only Auction has opened, the Online Sale Information regarding each Lot for sale in the Online Only Auction is available for you to review.
As indicated in the Conditions of Business for Buyers (Online Only), the Online Sale Information for each Lot includes pre-sale estimates which are provided by Sotheby's as a guide for prospective Bidders to assist them with determining the appropriate amount to bid for a Lot. In our opinion, any bid for an amount which is between the high pre-sale estimate and the low pre-sale estimate stated in the Online Sale Information for the Lot would offer a chance of success. Having said that, it is important you appreciate that Lots can realize prices which are above or below the pre-sale estimates. It is advisable to check the pre-sale estimates prior to submission of a bid. Please note that the pre-sale estimates which are stated in the Online Sale Information do not include buyer's premium, overhead premium, any applicable taxes or tariffs.
Condition of Lots
The Online Sale Information includes the online catalogue description of the Lot; any online condition report provided in relation to the Lot by Sotheby's solely as a convenience (and the online images of the Lot shall be deemed to form part of any such condition report); any other information relating to the Lot or the conduct of the Online Only Auction which is published on the Online Only Platform (including this Guide to Buying in an Online Only Auction).
All Lots are offered for sale in the condition which they are in at the time of sale in an Online Only Auction. Any reference to condition in the Online Sale Information will not amount to a full description of the 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. It is important that you appreciate that you will not have an opportunity to inspect the condition of a Lot prior to submitting a bid in respect of such Lot. Please refer to Condition 3 of the Conditions of Business for Buyers (Online Only) for further information regarding the basis upon which your bid for a Lot is submitted.
In certain circumstances, Sotheby's may publish in the online catalogue description for a Lot the history of ownership of a work of art if such information contributes to scholarship or is otherwise well known and assists in distinguishing the work of art. However, the identity of the seller or previous owners may not be disclosed for a variety of reasons. For example, such information may be excluded to accommodate a seller's request for confidentiality or because the identity of prior owners is unknown given the age of the work of art.
In situations where a person who is allowed to bid on a Lot has a direct or indirect interest in such Lot, such as the beneficiary or executor of an estate selling the Lot, a joint owner of the Lot, or a party providing or participating in a guarantee of the Lot, Sotheby’s will notify you by email and publish a notification in the Online Sale Information that interested parties may bid on the Lot. In certain instances, interested parties may have knowledge of the reserves.
Sotheby’s employees may bid only if the employee does not know the reserve and fully complies with Sotheby’s internal rules governing employee bidding.
Information regarding shipping and delivery
Sotheby’s can advise buyers on exporting and shipping property. Our office is open between the hours of 9.30am and 6.00pm and you can contact Post Sale Services on the number set out in the online catalogue. Purchases will be dispatched as soon as possible upon clearance from Post Sale Services and receipt of your written dispatch instructions and of any export licence or certificates that may be required. Dispatch will be arranged at the buyer’s expense. Sotheby’s may receive a fee for its own account from the agent arranging the dispatch. Estimates and information on all methods can be provided upon request and enquiries should be emailed to email@example.com. Your shipper will include a quote for transit insurance. All shipments should be unpacked and checked on delivery and any discrepancies notified to the transit insurer or shipper immediately.
Sotheby's is always happy to discuss any Lot in which you are interested. Further information requests can be submitted via the 'Request Info' button which appears at Lot level on the Online Only Platform.
3. SUBMISSION OF A BID FOR A LOT IN AN ONLINE ONLY AUCTION
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 section 4 below.
Bids can be submitted through the Online Only Platform from the start of the Online Only Auction until the Lot closes.
You may bid at or above the starting bid displayed on the Online Only Platform. You may also input a maximum bid which, upon confirmation, will be executed automatically up to this predefined maximum value in response to other bids, including bids placed by Sotheby’s on behalf of the Seller, up to the amount of the Reserve (if applicable). Bids placed by Sotheby’s on behalf of the Seller, up to the amount of the Reserve, will be counted toward the total bid count displayed on the Online Only Platform. The current leading bid will be visible to all Bidders; the value and status of your maximum bid will be visible only to you, unless it is the leading bid. If the status of your bid changes, you will receive notifications via email and push (if you have the Sotheby’s App installed).
Enter your maximum bid (being the highest price you are willing to pay on the Lot). The Online Only Platform will then place incremental bids on your behalf up to your maximum bid for as long as you are the highest bidder. Sotheby’s uses pre-determined bidding increments. Please refer to the bidding increments link which appears at Lot level on the Online Only Platform. In cases where two equivalent maximum bids are submitted, the first bid received will take priority.
4. MONITORING AND INCREASING YOUR BIDS
If you are outbid at any time you will receive an email notification informing you accordingly and providing a link to follow to increase your bid. We encourage you to monitor the bids on Lots throughout the duration of the Online Only Auction to ensure your status as the highest bidder up until the close of the Online Only Auction. 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.
5. EXPLANATION OF SYMBOLS
Symbol Key The following key explains the symbols you may see inside this catalogue.
Premium Lots In order to bid on “Premium Lots” (
in print catalogue or
in eCatalogue), Sotheby’s may request from prospective bidders to complete the pre-registration application form and to deliver to Sotheby’s a deposit of HK$5,000,000 or such other higher amount as may be determined by Sotheby’s (for any items of Chinese Works of Art, Fine Chinese Paintings, Fine Classical Chinese Paintings, Magnificent Jewels & Jadeite and Modern & Contemporary Art – Evening Sale) and of HK$2,000,000 or such other higher amount as may be determined by Sotheby’s (for any items in other categories), and any financial references, guarantees and/or such other security as Sotheby’s may require in its absolute discretion as security for the bid. Please bear in mind that we are unable to obtain financial references over weekends or public holidays. Sotheby’s decision whether to accept any pre-registration application shall be final. If your application is accepted, you will be provided with a special paddle number. If all lots in the catalogue are “Premium Lots”, a Special Notice will be included to this effect and this symbol will not be used.
○ Guaranteed Property
The seller of lots with this symbol has been guaranteed a minimum price from one auction or a series of auctions. This guarantee may be provided by Sotheby’s, by a third party or jointly by Sotheby’s and a third party. Third parties providing all or part of a guarantee benefit financially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful. A third party providing a guarantee jointly with Sotheby’s may provide an irrevocable bid, or otherwise bid, on the guaranteed property. If the Guaranteed Property symbol for a lot is not included in the printing of the auction catalogue, a pre-sale or pre-lot announcement will be made indicating that there is a guarantee on the lot. If every lot in a catalogue is guaranteed, the Important Notices in the sale catalogue will so state and this symbol will not be used for each lot.
△ Property in which Sotheby’s has an Ownership Interest
Lots with this symbol indicate that Sotheby’s owns the lot in whole or in part or has an economic interest in the lot equivalent to an ownership interest. If all lots in the catalogue are lots in which Sotheby’s has an ownership interest, a Special Notice will be included to this effect and the triangle symbol will not be used.
⋑ Irrevocable Bids
Lots with this symbol indicate that a party has provided Sotheby’s with an irrevocable bid on the lot that will be executed during the sale at a value that ensures that the lot will sell. The irrevocable bidder, who may bid in excess of the irrevocable bid, will be compensated based on the final hammer price in the event he or she is not the successful bidder. If the irrevocable bidder is the successful bidder, he or she will be required to pay the full Buyer’s Premium and Overhead Premium and will not be otherwise compensated. If the irrevocable bid is not secured until after the printing of the auction catalogue, a pre-lot announcement will be made indicating that there is an irrevocable bid on the lot. If the irrevocable bidder is advising anyone with respect to the lot, Sotheby’s requires the irrevocable bidder to disclose his or her financial interest in the lot. If an agent is advising you or bidding on your behalf with respect to a lot identified as being subject to an irrevocable bid, you should request that the agent disclose whether or not he or she has a financial interest in the lot.
⊻ Interested Parties
Lots with this symbol indicate that parties with a direct or indirect interest in the lot may be bidding on the lot, including (i) the beneficiary of an estate selling the lot, or (ii) the joint owner of a lot. If the interested party is the successful bidder, they will be required to pay the full Buyer’s Premium and Overhead Premium. In certain instances, interested parties may have knowledge of the reserve. In the event the interested party’s possible participation in the sale is not known until after the printing of the auction catalogue, a pre-lot announcement will be made indicating that interested parties may be bidding on the lot.
□ No Reserve
Unless indicated by a box ( ), all lots in this catalogue are offered subject to a reserve. A reserve is the confidential hammer price established between Sotheby’s and the seller and below which a lot will not be sold. The reserve is generally set at a percentage of the low estimate and will not exceed the low estimate for the lot. Where a lot is offered “without reserve” absentee bids will be executed at a minimum of 10% of the low estimate. If any lots in a sale are offered without a reserve, these lots are indicated by a box ( ). If all lots in a sale are offered without a reserve, a Special Notice will be included to this effect and the box symbol will not be used.
6. CLOSING THE ONLINE ONLY AUCTION
An end time is displayed for each Lot at Lot level on the Online Only Platform. Lots will close at the time stated at Lot level on the Online Only Platform unless a bid is placed within 1 minute of a Lot's scheduled end time. If this occurs, Sotheby’s will extend the sale of that Lot by 2 minutes from the time of the last bid. The extension of any Lot's closing time does not affect the closing time of the following Lots. This may result in Lots closing out of numerical order. Upon the closing of each Lot, you will receive another email and push notification indicating whether you have won or lost each Lot on which you have placed a bid.
7. HOW TO PAY FOR YOUR LOT
If you are a successful Buyer of a Lot, Sotheby's will email you the Buyer's Invoice for the total amount due by you (together with payment instructions) as soon as reasonably practicable after the final Lot in the relevant Online Only Auction closes. Payment from the invoiced party is due in full by the payment date stated in the Buyer’s Invoice. Please note that we reserve the right to decline payments received from anyone other than the buyer of record and that clearance of such payments will be required. Please contact our Post Sale Services Department if you have any questions concerning clearance.
A Buyer’s Premium and Overhead Premium is payable by the successful Bidder on a Lot in an Online Only Auction. The Buyer's Premium and Overhead Premium is added to the Hammer Price and are included as part of the total Purchase Price payable by the successful Bidder. In an Online Only Auction conducted by Sotheby's in Hong Kong, the Buyer’s Premium rate is as follows: 25% of the Hammer Price up to and including HK$3,500,000, 20% of any amount in excess of HK$3,500,000 up to and including HK$31,000,000 and 13.9% of any amount in excess of HK$31,000,000. The overhead premium, which covers an allocation of Sotheby's overhead costs relating to our facilities, property handling and other administrative expenses, is 1% of the hammer price.
Sotheby's will also email you the Buyer's Shipping Quote upon request in respect of the Buyer's Shipping Costs payable by the Buyer in consideration of Sotheby's delivery services for the purchased Lot at which point Sotheby’s will ask you to confirm your delivery address.
Provided that the Buyer’s Invoice has been settled in full by the payment date stated in the Buyer's Invoice and the Buyer’s Shipping Quote has been settled in full by the payment date stated in the Buyer’s Shipping Quote, and financial release of the property has been completed and any requisite export licence or certificate that may be required has been provided to Sotheby’s, Sotheby’s will ship the purchased property to your delivery address no later than thirty (30) days from the closing date of the relevant Online Only Auction unless due to circumstances outside of Sotheby’s control or otherwise explicitly agreed. .
If you are a successful Buyer of a Lot, you will also be required to pay where applicable: Sales Tax, import tax, customs duty and any local clearance fees applicable for your country e.g. US Merchandise Processing Fee, Buyer's Shipping Costs (which include the transit insurance fee). Please refer to the Conditions of Business for Buyers (Online Only) for more information.
Please note the following information regarding Sotheby's accepted payment policies:
•It is against Sotheby’s general policy to accept single or multiple related payments in the form of cash or cash equivalents in excess of the local currency equivalent of HK$80,000.
•It is Sotheby’s policy to request any new clients or new buyers preferring to make Hong Kong Dollar cash payment to provide: proof of identity (by providing some form of government issued identification containing a photograph, such as a passport, identity card or driver’s licence) and confirmation of permanent address. Thank you for your co-operation.
•Cheques: should be made payable to Sotheby’s Hong Kong Limited. Although personal and company cheques drawn in Hong Kong dollars on Hong Kong banks are accepted, you are advised that property will not be released until such cheques have cleared unless you have a pre-arranged Cheque Acceptance Facility.
•Bank transfers: our bank account details are shown on our invoices. Please include your name, Sotheby’s account number and invoice number with your instructions to your bank.
•Card payments: All charges are subject to acceptance by Sotheby’s and by American Express, MasterCard, China UnionPay or Visa, as the case may be. In the case a charge is not approved, you will nevertheless be liable to Sotheby’s for all sums incurred by you. Credit card purchases may not exceed HK$1,000,000. For all new clients to Sotheby’s or those whom we have not transacted before, we reserve the right to accept credit card payments presented in person only. For further details please contact the Post Sale Services Department on +852 2822 5533.
•Payments by Hong Kong Dollar cash can only be accepted at Sotheby’s premises at 5th Floor, One Pacific Place, 88 Queensway, Hong Kong.
•We reserve the right to seek identification of the source of funds received.
Please note that for this charity auction, Sotheby’s will donate all buyer’s premium and overhead premium to Tung Wah Group of Hospitals in support of the good cause
8. FURTHER INFORMATION REGARDING SHIPPING, EXPORT OF PROPERTY AND RELATED MATTERS
All shipments should be unpacked and checked on delivery and any discrepancies notified immediately to the party identified in your quotation and/or the accompanying documentation. The export of any lot from Hong Kong or import into any other country may be subject to one or more export or import licences being granted. It is the buyer's responsibility to obtain any relevant export or import licence. The denial of any licence required or delay in obtaining such licence cannot justify the cancellation of the sale or any delay in making payment of the total amount due. Sotheby's, upon request and for an administrative fee, may apply for a licence to export your lot(s) outside Hong Kong. Sotheby's recommends that you retain all import and export papers, including licences, as in certain countries you may be required to produce them to governmental authorities.
Items made of or incorporating plant or animal material, such as coral, crocodile, ivory, whalebone, tortoiseshell, etc., irrespective of age or value, may require a licence or certificate prior to exportation and require additional licences or certificates upon importation to any country outside Hong Kong. Please note that the ability to obtain an export licence or certificate does not ensure the ability to obtain an import licence or certificate in another country, and vice versa. For example, it is illegal to import African elephant ivory into the US and there are other restrictions on the importation of ivory into the US under certain US regulations which are designed to protect wildlife conservation.
Sotheby’s suggests that buyers check with their own government regarding wildlife import requirements prior to placing a bid. It is the buyer’s responsibility to obtain any export or import licences and/or certificates as well as any other required documentation (please refer to Condition 10 of the Conditions of Business for Buyers (Online Only). Please note that Sotheby’s is not able to assist buyers with the shipment of any Lots containing ivory and/or other restricted materials into the US. A buyer’s inability to export or import these Lots cannot justify a delay in payment or a sale’s cancellation.
US Economic Sanctions: The United States maintains economic and trade sanctions against targeted foreign countries, groups and organisations. There may be restrictions on the import into the United States of certain items originating in sanctioned countries, including Burma, Cuba, Iran, North Korea and Sudan. The purchaser’s inability to import any item into the US or any other country as a result of these or other restrictions shall not justify cancellation or rescission of the sale or any delay in payment. Please check with the specialist department if you are uncertain as to whether a Lot is subject to these import restrictions, or any other restrictions on importation or exportation.
TAX INFORMATION FOR BUYERS
Buyers should note that local sales taxes or use taxes may become payable upon import of items following purchase (for example, use tax may be due when purchased items are imported into certain states in the US). Buyers should obtain their own advice in this regard.
In the event that Sotheby’s ships items for a purchaser in this sale to a destination within a US state in which Sotheby’s is registered to collect sales tax, Sotheby’s is obliged to collect and remit the respective state’s sales /use tax in effect on the total purchase price (including hammer price, buyer’s premium, overhead premium, shipping costs and insurance), of such items, regardless of the country in which the purchaser resides or is a citizen. Where the purchaser has provided Sotheby’s with a valid Resale Exemption Certificate prior to the release of the property, sales / use tax will not be charged. Clients who wish to provide resale or exemption documentation for their purchases should contact Post Sale Services Department.
Clients who wish to provide resale or exemption documentation for their purchases and/or clients who wish to have their purchased lots shipped to the US by Sotheby’s are advised to contact the Post Sale Services Department before arranging shipping.
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 set out above) carefully before placing a bid for any Lot. In particular, Bidders’ attention is specifically drawn to Condition 4 below, which contains specific limitations and exclusions of the legal liability of Sotheby’s and Sellers.
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.
(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 set out above); 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 EU Consumer Rights Directive. This is important because the EU Consumer Rights Directive provides 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 11 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 EU Consumer Rights Directive) 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 12 of these Conditions of Business for Buyers (Online Only)).
2. Common Terms
In these Conditions of Business for Buyers (Online Only):
"Additional Buyer's Expenses" are any other costs or expenses due to Sotheby's from the Buyer which are payable in respect of the sale of the Property;
"Bidder" is any person considering, making or attempting to make a bid in an Online Only Auction and includes Buyers (also referred to as “you” in these Conditions of Business for Buyers (Online Only));
"Buyer" is the person who makes the highest bid for a Lot in an Online Only Auction via the Online Only Platform (also referred to as “you” in these Conditions of Business for Buyers (Online Only));
"Buyer's Premium" is the commission payable by the Buyer on the Hammer Price (at the rates set out in the Guide to Buying in an Online Only Auction set out above);
“Buyer’s Shipping Costs” are any packing, handling and shipping costs and charges (including any costs covering transit insurance) payable by the Buyer to Sotheby’s for provision of delivery services of the purchased Lot to the Buyer;
"Counterfeit" is as defined in Sotheby's Authenticity Guarantee (set out below);
“Experience” is each activity experience included in the Online Only Auction;
“Experience Listing” is the information on the Online Only Platform and in the online catalogue in relation to each Experience;
"Hammer Price" is the highest bid accepted from a Bidder for a Lot during an Online Only Auction;
“EU Consumer Rights Directive” is Directive 2011/83/EU of the European Parliament and the Council of 25 October 2011 on consumer rights;
“Lot” is an item to be offered for sale at an Online Only Auction on the Online Only Platform (and “Lots” shall be construed accordingly);
“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 that may be 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 set out above); 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;
"Overhead Premium" is the allocation of Sotheby’s overhead costs relating to Sotheby’s facilities, property handling and other administrative expenses that is payable by the Buyer on the Hammer Price at the rates set out in the guide to Buying at Auction in the sale catalogue;
"Purchase Price" is the Hammer Price, applicable Buyer's Premium and applicable Overhead Premium;
"Reserve" is the confidential minimum price which the Seller has agreed to accept for a Lot below which the Lot cannot be sold;
"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 Hong Kong Ltd., which has its registered office at Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong;
"Sotheby's Company" means both Sotheby's in the USA and any of its subsidiaries (including Sotheby's in London) and Sotheby’s Diamonds SA and its subsidiaries (in each case “subsidiary” having the meaning of Section 2 of the Companies Ordinance (Cap. 622);
“Standard Online Delivery Costs” means the sums charges for delivery of the Lot to a Buyer using Sotheby’s standard online delivery service;
“Verified Account” refers to the category of Sotheby’s account which is required to enable the account holder to (i) register for a sale; and (ii) to bid in an auction (including, but not limited to, an Online Only Auction); and
“Verified Accountholder” means an individual or entity who/which maintains a Verified Account.
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 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(d) 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 applicable Authenticity Guarantee has been satisfied.
(b) In the 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(e) 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 Sellers' Conditions of Business;
(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 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 amount of Purchase Price with regard to that Lot. Neither Sotheby’s nor the Seller shall under any circumstances be liable for any indirect or consequential losses.
(e) Nothing in 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:
(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:
(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 in an Online Only 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 Hong Kong.
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.
(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 for a purchased Lot
(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) The invoice for the Purchase Price of the purchased Lot (the “Buyer’s Invoice”) which will include:
(i) the Hammer Price;
(ii) the Buyer’s Premium;
(iii) the Overhead Premium.
Subject to Condition 10(e), Sotheby’s will also email you a shipping quote upon request covering the Buyer’s Shipping Costs (the “Buyer’s Shipping Quote”) to the address registered on your Verified Account. Please refer to Condition 10 of these Conditions of Business for Buyers (Online Only) for further information. For international Buyers, the terms of sale are Delivery Duty Unpaid. If you have purchased a Lot for delivery outside of Hong Kong, 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) Sotheby’s charges a Buyer’s Premium and an Overhead Premium to the Buyer on the Hammer Price for each Lot sold. The amount of the Buyer’s Premium and Overhead Premium is set out in the Guide to Buying in an Online Only Auction set out above.
(d) The Buyer of a Lot is solely responsible for the payment of any 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.
(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(b) 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) Risk in and responsibility for the purchased Lot will transfer to the Buyer as follows: (i) if Sotheby’s dispatches the Lot to the Buyer using the method of shipping specified for the Lot in the relevant Online Only Auction, when the Lot comes into the physical possession of the Buyer or a person identified by the Buyer to take physical possession of the Lot on the Buyer’s behalf; or (ii) if collection by the Buyer in person is permitted for the relevant Online Only Auction, when the Buyer collects the Lot. As a Buyer, you acknowledge and agree that the Lot is at your risk if you choose to exercise any right you may have to cancel the contract for the purchase of the Lot (in accordance with the procedure set out at Condition 11 below) and that you should therefore ensure that you insure the Lot against loss or damage until it is returned to Sotheby’s.
(h) 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.
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 by the Due Date, 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 amounts due pursuant to Condition 8(b) above 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 payment of a deposit;
(f) charge interest at a rate not exceeding 2% per month from the Due Date to the date the Purchase Price and relevant Additional 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 Additional Buyer's Expenses for that Lot, the Buyer will remain liable for the shortfall together with all costs incurred in such resale;
(i) commence legal proceedings to recover the Purchase Price and Additional 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. Transport and Shipping
(a) As stated in Condition 8 above, you will be emailed the Buyer’s Shipping Quote upon request. 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 as soon as possible.
(b) 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.
(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) All items will be held by Sotheby’s free of charge for up to 30 days from the date of the sale, after this date the following rates apply: Storage charge: HK$1,200 per lot per month. To arrange shipping or collection, please contact Post Sale Services. Lots will be released to you or your authorised representative when full and final payment has been received by Sotheby’s, appropriate photographic identification has been made, and a release note has been provided by Sotheby’s (open Monday to Friday 9:30am - 6pm).
11. Cancellation of an Online Only Sale
(a) If the Buyer is an Online Consumer and the Seller is an Online Trader, the Buyer may 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 11(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.
(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.
12. Cancellation of Services
(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 11 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 12(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 in 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]
[*] Delete as appropriate
13. Additional Provisions which apply where a Lot is an Experience
(a) As Is
Each Experience is sold “AS IS” without any representations or warranties of any kind. Without limiting the generality of the foregoing, Sotheby's expressly disclaims any implied representations or warranties of merchantability or fitness for a particular purpose, representations and warranties as to the condition, size, quality, rarity, importance, provenance, literature or historical relevance of an Experience, or as to the quality, accuracy, timeliness, non-infringing nature, completeness or reliability of any Online Sale Information which relates to an Experience, including any Experience Listing or other description of any Experience and any representations or warranties arising out of course of dealing or usage of trade. No statement anywhere, whether oral or written, whether made in the catalogue, an advertisement, or elsewhere, shall be deemed such a warranty, representation or assumption of liability. Sotheby's is not responsible for errors and omissions in any Online Sale Information which relates to an Experience, including any Experience Listing, or any supplemental material.
(b) No Endorsement
Sotheby's does not plan, host, operate, or fulfil the Experiences. Sotheby's does not endorse, verify, vouch for, investigate or vet any Experience. Sotheby's does not make any representations or warranties, express or implied, of any kind with respect to any Experience. Sotheby's is not responsible for estimates, descriptions or any other matters relating to the offer and sale of any Experiences. Information about Experiences is provided by the Seller. Sotheby's does not verify the accuracy of this information.
(c) Costs and Expenses
For each Experience, any incidental costs and expenses such as fees for travel, food or lodging are the sole responsibility of the Purchaser unless otherwise expressly stated in the Experience Listing for the applicable Experience.
Sotheby's reserves the right to withdraw any Experience before, during and after the Online Only Auction and shall have no liability whatsoever for such withdrawal.
(e) Limitation of Liability
In connection with the sale of any Lot which is an Experience, in no event will Sotheby's aggregate total liability to a Purchaser exceed the portion of purchase price actually paid for a Lot equal to the value of the respective Experience. The Purchaser acknowledges and agrees that, as between the Purchaser and Sotheby's, in each case to the maximum extent permitted by law, the Purchaser assumes the entire risk arising out of or in connection with the Purchaser's purchase of and participation in an Experience or otherwise arising out of or in connection with the fulfillment of a purchased Experience. None of Sotheby's, its affiliates, or any of their respective employees, shareholders, officers or directors (each, a "Sotheby's Party") (a) are liable for any negligence or willful act or omission of any person or entity providing any goods or services arising out of or in connection with Purchaser's purchase of or participation in any Experience or otherwise arising out of or in connection with the fulfillment of a purchased Experience, or (ii) are responsible for and each expressly disclaims and you release each such person or entity from any liability for any injury, damage or harm to any person or entity or to real or personal property, financial or physical loss, death, inconvenience or delay arising out of or in connection with Purchaser's purchase of or participation in any Experience or otherwise arising out of or in connection with the fulfillment of a purchased Experience.
In connection with the sale of any Lot which is an Experience, without limiting the generality of the foregoing, no Sotheby's Party will be liable for any incidental, punitive, special, exemplary or consequential damages, including lost profits, loss of data or goodwill, service interruption, computer damage or system failure or the cost of substitute services arising out of or in connection with Purchaser's purchase of or participation in any Experience or otherwise arising out of or in connection with the fulfillment of a purchased Experience, whether based on warranty, contract, tort (including negligence), product liability or any other legal theory, and whether or not such person or entity has been informed of the possibility of such damage, even if a limited remedy set forth herein is found to have failed of its essential purpose.
In connection with the sale of any Lot which is an Experience, no Sotheby's Party assumes any responsibility for any other third party's failure to comply with any applicable laws and regulations. Each Sotheby's Party explicitly disclaims and you release each Sotheby's Party from any and all liability for any act or omission of any other third person or entity. Sotheby's cannot control the Purchaser's or any guest's interaction with the Seller or any third party and each Sotheby's Party expressly disclaims and you release each Sotheby's Party from any liability arising out of or in connection with such interaction.
You agree that any legal remedy or liability that you seek to obtain arising out of or in connection with any Experience or the Online Only Auction will be limited to a claim against the Seller or other third parties. You agree not to impose or attempt to impose any liability on any Sotheby's Party or seek any legal remedy from any Sotheby's Party with respect to any Experiences or the Online Only Auction.
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.
(a) All images and other materials produced for the 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 at the beginning of the sale catalogue. 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 for Buyers (Online Only) be held unenforceable for any reason, the remaining provisions shall remain in full force and effect.
(d) These Conditions of Business for Buyers (Online Only) 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) Ordinance (Cap. 623) is excluded by these Conditions of Business for Buyers (Online Only) 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
17.Law and Jurisdiction
Governing Law - These Conditions of Business for Buyers (Online Only) 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 apply) shall be governed by and interpreted in accordance with Hong Kong law.
Jurisdiction - For the benefit of Sotheby’s, all Bidders and Sellers agree that the Hong Kong Courts are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Business for Buyers (Online Only) relate or apply. All parties agree that Sotheby’s shall retain the right to bring proceedings in any court other than the Hong Kong Courts.
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 Hong Kong law, the law of the place of service or the law of the jurisdiction where proceedings are instituted, at the last address of the Buyer or Seller known to Sotheby’s or any other usual address.
SOTHEBY’S AUTHENTICITY GUARANTEE FOR ANY PROPERTY (EXCEPT BOOKS AND JEWELLERY TO WHICH THE AUTHENTICITY GUARANTEES SET OUT BELOW APPLY)
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 opinions of scholars and experts 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 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 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 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 mutually approved independent expert reports.
閣下完成登記程序，成為已認證賬戶之持有人後，即可使用自己的賬戶名稱及密碼，登入適用的網上專場拍賣。如欲登入閣下的已認證賬戶，請跟隨網頁 https://www.sothebys.com/accountcreation 上的登入步驟。
•信用卡付款：如以American Express、MasterCard、銀聯或Visa信用卡付款，必須親身向香港蘇富比出示信用卡。視具體情況而定。蘇富比及American Express、MasterCard、銀聯或Visa決定是否接納該等付款。如付款不獲通過，閣下仍須為己方招致的全數費用向蘇富比承擔責任。信用卡付款金額不得超過1,000,000港元。不超過400,000港元的信用卡付款（銀聯除外）可透過填妥蘇富比缺席委託信用卡付款表格遙距進行。所有蘇富比新客戶或未曾與我方進行過交易之客戶，必須親身持卡付款。詳情請致電+852 2822 5533聯絡售後服務部。
(b) 網上拍賣資料在網上專場拍賣開始前，會立刻顯示擁有人身份為(i) 第三方（此種情況下蘇富比為賣家代理人）或(ii)蘇富比（此種情況下蘇富比為賣家委託人）。在第(i)種情況下，蘇富比為賣家提供之服務包括但不限於簽訂賣家與買家雙方直接的銷售合約（蘇富比代表賣家擔任代理人角色）。在第(ii)種情況下，蘇富比以有抵押債權人或其他身份，全部或部分擁有拍品及／或可能擁有拍品之法律、實益或財務利益。
「競投人」指以任何方式考慮、作出或嘗試競投之任何人士 , 包括買家在內 （在本「買家業務規則（網上專場拍賣）」亦稱為「閣下」） ；
「已認證賬戶」指蘇富比賬戶的類別，賬戶持有人有此類賬戶，方可 (i) 在拍賣會上登記 (ii)在拍賣會上競投（包括但不限於網上專場拍賣）；及
(b) 競投人承認，眾多拍品年月已久及種類特殊，意味拍品並非完好無缺。所有拍品均以相關網上專場拍賣時之狀況出售。任何在網上拍賣資料裡提及之狀況並不等同於狀況之完整描述，電子圖錄裡未提及之任何拍品狀況並不意味該拍品沒有缺陷或瑕疵。狀況報告可能有助競投人評估拍品之狀況，僅供參考。拍品電子圖像為蘇富比所提供的狀況報告之一部分。某些拍品電子圖像可能無法準確反映拍品的真實狀況。其中，電子圖像所反映之顏色及陰影，可能與拍品之實際顏色及陰影有所不同。網上拍賣資料及 / 或任何與拍品相關之狀況報告可用作某些拍品瑕疵之參考，然而閣下應注意，拍品可能存在其他在拍品狀況報告內並無明確提及，或拍品電子圖像內並無顯示之瑕疵。由於蘇富比並非專業之維護員或修復員，因此狀況報告可能未提及所有缺陷、修復、更改或改裝，狀況報告為蘇富比所持有之確實意見聲明。因此，蘇富比之狀況報告並不可作為閣下就拍品狀況徵詢專業意見之替代品。所有電器及機械貨品僅按其藝術及裝飾價值出售，不應假設其可運作。任何拍品之電器系統作任何用途前，必須經由合格之電器技師檢驗和批核。
(e) 受上文規則第 3(a) 至 3(d) 條所載事項及下文規則第 4 條所載之特定豁免所限，蘇富比在網上拍賣資料（包括但不限於目錄描述及與拍品相關之任何狀況報告）中作出明示聲明時，應以符合競投人對蘇富比拍賣行地位之合理預期的審慎標準，考慮相關拍品之估價，並根據：
(b) 就上文規則第 3 條之事項而言，以及受規則第 4(a) 及 4(e) 條所限，蘇富比或賣家均毋須：
(i) 對蘇富比（或任何蘇富比公司）向競投人以口述或書面提供之資料的任何錯誤或遺漏負責，不論由於疏忽或因其他原因所導致，惟上文規則第 3(e) 條所載列者除外；
(ii) 向競投人作出任何保證或擔保，於賣家之業務規則第 2 條賣家向買家作出之明示擔保以外之任何暗示保證及規則則不包括在內（惟法律規定不可免除之該等責任除外）；
(iii) 就蘇富比有關網上專場拍賣及 / 或網上專場平臺之營運或有關銷售任何拍品之任何事宜的行動或遺漏（不論由於疏忽或其他原因所導致）向任何競投人負責。
(d) 在不影響規則第 4(b) 條之情況下，競投人對蘇富比或賣家提出之任何申索以該項拍品之買入價為限。蘇富比或賣家在任何情況下均毋須承擔任何間接或後果性損失。
(e) 本規則第 4 條概無就蘇富比或賣家作出之任何具欺詐成份之失實聲明，或就蘇富比或賣家之疏忽行為或遺漏導致之人身傷亡，免除或限制蘇富比之法律責任。
(a) 如欲參與網上專場拍賣競投，閣下必須建立一個已認證賬戶（須依照下列 5(b) 和 5(c) 所載列之步驟進行）。
如閣下使用蘇富比移動應用程式，亦可選用「快速出價」（Quick Bid），您可(i)按著「Quick Bid」向右滑，或(ii)按「Quick Bid」一次，然後按「出價」。
(i) 僅於下列其中一種情況下，競投人或可取消在網上專場拍賣的一次出價：(A) 在競投人已經出價後，電子圖錄所載的該拍品之描述或該拍品之狀況報告有重大修訂；或 (B) 在競投人已經出價後，蘇富比網站刊登關於該拍品的通知。詳情請聯絡香港蘇富比競投部。
(b) 已購拍品之買入價賬單（「買家賬單」） 將包括：
根據規則第10(e)條之規定，蘇富比會根據要求，向閣下在已認證賬戶上註冊的電郵地址發送涵蓋買家付運費用的付運報價（「買家付運報價」）。如欲瞭解更多詳情，請參閱本買家之業務規則（網上專場）第10條。就國際買家而言，銷售條款為未完稅交貨條件。如閣下將已購拍品交付至香港境外，即表示閣下承認並同意，閣下有責任確認並繳付所有欠付相關政府實體之國際關稅、海關費用、稅項、費用及關稅，或其他需在付運及 / 或交付前支付之費用，包括協助付運所需之任何第三方費用。
(g) 已購拍品之風險和責任將按以下方式轉移予買家： (i) 如蘇富比根據相關網上專場拍賣所指定之拍品付運方式將拍品交付予買家，在拍品由買家實際持有，或由買家指定的代表人士以買家名義實際持有時；或 (ii) 如相關網上專場拍賣允許買家親自領取拍品，在買家領取拍品時。作為買家，閣下承認並同意如閣下選擇行使任何權利，閣下可能需要取消該項拍品之購買合約（根據下文規則第11條所載列的程序），拍品之風險由閣下承擔，因此閣下應確保該項拍品在退還予蘇富比之前免受損失或損毀。
(d) 將買家根據上述規則第8 (b) 條應付予蘇富比之任何款項，用以支付該項拍品或買家購買之任何其他拍品，或根據下文段落 (h) 所規定之任何轉售差額，或因買家違反合約而導致蘇富比遭受的任何損失；
(h) 透過拍賣或私人洽購重售該項拍品，並由蘇富比酌情決定估價及底價。 如該等重售所得之金額低於該項拍品的買入價及額外買家費用，則買家仍須承擔差額，連同該等重售所產生之所有費用；
(e) 在拍賣會後三十日內，蘇富比會免費保管所有物品，此日以後將收取以下費用：儲存費：每件拍品每月港幣1,200 元。如欲安排付運或領取，請聯絡售後服務部。當蘇富比收到全數結清之付款、附有照片之合適身份證明及蘇富比提供之領貨單時，會將拍品交付予閣下或閣下所授權之代表人（辦公時間為星期一至五上午 9 時 30 分至下午 6 時）。
(a) 如買家為一名網上消費者，而賣家為一名網上交易者，則買家可能有權在網上拍賣取消期限內以任何理由取消網上交易者（作為賣家）與網上消費者（作為買家）直接訂立的銷售合約，只要 (i) 網上消費者在網上取消期限內已將其取消購買拍品的意向及時通知蘇富比；且 (ii) 在網上消費者將其取消購買拍品的意向通知蘇富比之第二日起，網上消費者不作無故拖延並在任何情況下不遲於十四（14）日內將拍品退還予蘇富比。
(b) 如要行使取消有關拍品之銷售合約的權利， 網上消費者必須將其取消銷售合約之決定，以明確聲明（例如以郵寄、傳真或電郵方式寄出的信函）通知蘇富比（屬蘇富比集團旗下之公司，並在網上拍賣資料中指定以賣家代理人或當事人身份出售拍品）。或者，網上消費者可使用下文中載列的取消表格範例。如網上消費者在網上拍賣取消期限結束前將檔寄予網上交易者以通知取消事宜，則網上交易者將被視為已在網上拍賣取消期限內取消了銷售合約。
(c) 如網上消費者在網上拍賣取消期限內取消銷售合約，蘇富比將退還（在收到網上消費者所退還之拍品後，不作無故拖延並在任何情況下於十四（14）日內按規則 11(a)(ii) 所列明之時間範圍內）我方向網上消費者收取之款項（包括買入價及任何標準網上送貨費用）。除非及直至該項拍品已退還予蘇富比，或閣下已向蘇富比提供拍品已退還予我方之證明，蘇富比方會辦理退還手續。
(f) 閣下應從通知我方取消購買拍品之第二日起，不作無故拖延並在任何情況下不遲於十四日內，將拍品送還或交至我方為此目的所指定之有關位址。如閣下在十四日期限結束前將拍品送還，即 已遵守此期限。閣下須承擔退還拍品之直接開支。如我方為拍品安排交付服務，我方估計以相同方式退還拍品的開支可能會與交付開支相似；但由於本公司之全球業務模式及可能採取的退還方式涉及許多可變因素，我方未能為這筆費用作出更準確的估算。
(c) 如要行使取消有關已購拍品之交付服務合約的權利， 網上消費者必須將其取消使用服務之決定，以明確聲明（例如以郵寄、傳真或電郵方式寄出的信函）通知蘇富比。或者，網上消費者可使用下文中載列的取消表格範例。如網上消費者在網上拍賣取消期限結束前將檔寄予網上交易者以通知取消事宜，則網上交易者將被視為已在網上拍賣取消期限內取消了銷售合約。
取消表格範例——銷售物品 / 使用服務
本人 / 我方 * 特此通知，本人 / 我方 * 取消本人 / 我方對以下物品 [*] 之銷售 / 使用以下服務 [*] ，
在 [*] 訂購 / 在 [*] 接收，
就任何「體驗活動」拍品之銷售而言，蘇富比對買家之累計法律責任總額在任何情況下均不會超過與相關「體驗活動」價值相同的拍品實際支付之部份買入價。買家承認並同意，在買家與蘇富比之間，在法律允許之最大範圍內的每種情況下，買家需承擔就買家購買及參與「體驗活動」所產生或與之相關或就其他履行已購買之「體驗活動」所產生或與之相關的全部風險。蘇富比、其附屬公司，或任何其僱員、股東、人員或董事（各稱為「蘇富比方」） (a) 均毋須就買家購買及參與「體驗活動」所產生或與之相關或就其他履行已購買之「體驗活動」所產生或與之相關，提供任何物品或服務的任何個人或實體之疏忽或故意作為或遺漏而承擔責任，或 (ii) 為之負責，並明確否認，及閣下免除各該等人士或實體就買家購買及參與「體驗活動」所產生或與之相關，或就其他履行已購買之「體驗活動」所產生或與之相關，對任何人或實體或房地產或個人財產所造成之任何傷害、損害或危害、財務或實際損失、死亡、不便或延遲承擔任何法律責任。
14. 競投人 / 買家擔保
(a) 競投人及 / 或買家擔保：
(i) 競投人及 / 或買家在其開展業務的司法管轄區內、以及在歐盟法律、英格蘭及威爾斯法律或美國法律及法規之下，不受貿易制裁、禁運或任何其他交易限制，而且非由該等受制裁人士（統稱「受制裁人士」）擁有（或部分擁有）或控制；及
(ii) 用於購買物品及結算款項的資金，與任何犯罪活動（包括但不限於逃稅、洗錢、恐怖主義活動或其他犯罪活動）並無聯繫或關連，亦並非源自該等犯罪活動；且競投人 / 買家未遭受調查，亦未被指控或裁定涉及（包括但不限於）逃稅、洗錢、恐怖主義活動或其他犯罪活動。
(b) 如競投人代另一位人士或以另一方（『當事人』）之代理人身份（在兩種情況下，就本規則第 14(b) 條而言，均為『代理人』 ）競投，代理人以自身身份擔保（在規則第 14(a) 條所載列之擔保之上）：
(c) 競投人及 / 或買家在此承諾及擔保，所有用於購買及結算款項的資金並無任何一部分由任何受制裁人士或任何參與該交易的一方（包括金融機構、貨運代理商或其他貨運代理人或任何其他受制裁人士）支付，或由受制裁人士擁有（或部分擁有）或控制，除非該等活動獲得對該項交易具司法管轄權的政府機關以書面形式或適用法律或法規授權。
(d) 蘇富比保留尋求識別所收到資金之來源、及向任何與我方交易之人士作出查詢的權利。如蘇富比在我方酌情決定其滿意程度之情況下，未就與競投人及 / 或買家相關之反洗錢、反恐融資或其他檢查完成其認為合適之查詢，蘇富比有權不完成或取消任何拍品之銷售（如適用），並採取適用法律所要求或允許之任何進一步行動，而毋需向競投人及 / 或買家承擔任何法律責任。
(f) 上文規則第 1(a) 條所列之資料載列了有關本文主題之整份協議及各方之間就此方面之理解。各方已協定，除有關具欺詐成分之失實聲明的責任以外，概無訂約方根據該等條款依賴並無明確指明該等資料之任何聲明、保證或承諾而訂立任何合約。
蘇富比會存留及處理買家之個人資料，並可能將該資料與另一蘇富比集團旗下公司分享，其用途符合刊登於蘇富比網址 www.sothebys.com 的私隱政策之描述，閣下或可電郵至 firstname.lastname@example.org 索取。
監管法例 - 該等買家之業務規則（網上專場）及其有關或適用之所有事宜、交易或紛爭之各方面（包括本規則所適用的拍賣會之任何網上競投）均受香港法例規管並按其詮釋。
司法管轄權 – 收益於蘇富比，所有競投人及賣家同意香港法院擁有專有司法管轄權，調解所有因與該等買家之業務規則（網上專場）有關或適用之所有事宜或交易之各方面而產生之紛爭。各方均同意蘇富比將保留權利在香港法院以外之任何法院提出訴訟。
送達法律程序檔 - 所有競投人及賣家不可撤回地同意透過傳真、面送方式、郵寄或香港法例、送達地點之法例或提出訴訟之司法權區之法例允許之其他方式，將有關任何法院訴訟之法律程序文件或任何其他文件送發至買家或賣家知會蘇富比之最新位址或任何其他常用位址。
本保證所規定之年期為有關拍賣日期後五 (5) 年，純為買家之利益，且不可轉移至任何第三方。為可根據本保證作出申索，買家必須：
(i) 在收到任何導致買家質疑物品之真偽或屬性的資料後，在三 (3) 個月內以書面形式通知蘇富比，列明拍品編號、購買該拍品之拍賣日期及其被認為是贗品之理由；及