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:

https://www.sothebys.com/accountcreation

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. Some Online Only Auctions may also have a PDF catalogue available on the website.

Pre-sale estimates

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.

Provenance

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.

Bidding practices

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 hkpostsaleservices@sothebys.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.

◉ Restricted Materials

Lots with this symbol have been identified at the time of cataloguing as containing organic material which may be subject to restrictions regarding import or export. The information is made available for the convenience of Buyers and the absence of the Symbol is not a warranty that there are no restrictions regarding import or export of the Lot; Bidders should refer to Condition 11 of the Conditions of Business for Buyers. Please also refer to the section on Endangered Species in the Buying at Auction Guide. As indicated in the Endangered Species section, Sotheby’s is not able to assist buyers with the shipment of any lots with this symbol into the US.

A buyer’s inability to export or import any lots with this symbol cannot justify a delay in payment or a sale’s cancellation.

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 are 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.

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.

Endangered Species: 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 Online Only Auction 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.

TREATMENT AND CONDITION OF GEMSTONES

Traditionally, gemstones have been treated by a variety of techniques to enhance color and generally to improve their appearance. Typically, rubies and sapphires have been heat treated and emeralds have been treated by oil or resin to improve color and clarity. These or other techniques, such as dyeing, irradiation, coating and impregnation, may be used on other gemstones. Although it is widely believed that heat treatments are permanent, purchasers should assume that any treatment may not be permanent and that over time special care of the stone may be required. Prospective buyers are reminded that, unless the catalogue description specifically states that a stone is natural, we have assumed that some form of treatment may have been used and that such treatment may not be permanent. Our presale estimates reflect this assumption.

To the extent that Sotheby’s has laboratory reports containing specific information on the treatment of a stone, these reports are made available for review by prospective buyers. Available reports from internationally recognized gemmological laboratories will be noted in the description of the item. New forms of treatments and new scientific methods to discern them are constantly being developed. Consequently, there may be a lack of consensus among laboratories as to whether gemstones have been treated, the extent of the treatment or the permanence of the treatment.

References in the e-catalogue descriptions to certificates or reports issued by gemmological laboratories are provided only for the information of bidders, and Sotheby’s does not guarantee and accepts no responsibility for the accuracy, terms or information contained in such certificates or reports. Please also note that laboratories may differ in their assessment of a gemstone (including its origin and presence, type and extent of treatments) and their certificates or reports may contain different results.

Regarding diamonds, Sotheby’s shares the concerns expressed by the United Nations Security Council with respect to uncut diamonds potentially coming from Angola and Sierra Leone. We will comply fully with the Security Council’s resolutions regarding these matters.

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.

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 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 the Guide to Buying in an Online Only Auction set out above;

"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:

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 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. The cancellation right does not apply to the purchase of a Lot made to the Buyer’s specifications or a Lot that is clearly personalised.

(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. 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.

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]

Date:

[*] 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.

(d) Withdrawal

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.

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.

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.

15. General

(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

Sotheby’s will hold and process the Buyer’s personal information and may share it with another Sotheby’s Group company for use as described in, and in line with, Sotheby’s Privacy Policy published on Sotheby’s 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 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.

SOTHEBY’S AUTHENTICITY GUARANTEE FOR JEWELLERY

If Sotheby’s sells any gemstone or pearls which the Buyer subsequently shows to Sotheby’s reasonable satisfaction not to be genuine or of natural origin, 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 such gemstones or pearls, in the currency of the original sale.

This Guarantee is provided for a period of twenty one (21) days 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 such 21 day period of the reasons for not believing the gemstones or pearls to be genuine or of natural origin, specifying the lot number, date of the auction at which it was purchased; 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.

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 Conditions of Business for Buyers (Online Only) and the Authenticity Guarantee set out above, in particular Conditions 3 and 4 of the Conditions of Business for Buyers (Online Only).

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. MANNER OF GIOVANNI BELLINI

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

6. AFTER GIOVANNI BELLINI

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

7.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.

8. 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.

9. Dimensions are given height before width.

WRISTWATCHES

All wristwatches are sold as viewed and cannot be returned on the grounds that repairs have been carried out or parts supplied by anyone other than the named makers.

Watches may not be taken apart whilst on view. Prospective buyers or their agents wishing to do so should make an appointment with the Watch Department for a private view the week before the sale. Although condition reports may be given on request, such reports are statements of opinion only and may not specify all mechanical replacements or imperfections in the movement, case and dial. All dimensions are approximate.

Watches in water-resistant cases have been opened to examine movements but no warranties are made that the watches are currently water-resistant.

Please note that we do not guarantee the authenticity of any individual component parts, such as wheels, hands, crowns, crystals, screws, bracelets and leather bands, since subsequent repairs and restoration work may have resulted in the replacement of original parts.

Please be advised that straps made of material derived from endangered or otherwise protected species (i.e. alligator and crocodile) are not sold with the watches and are for display purposes only. We reserve the right to remove these straps prior to shipping. Furthermore, in reference to watch bands, we do not guarantee the material of manufacture. Please be advised that the purchaser will be responsible for complying with any applicable export and import matters, particularly in relation to endangered species and the United States Department of Fish and Wildlife Services.

We make no representation or warranty as to the condition of any lot sold.

網上專場拍賣購買指引

以下指引為閣下提供於網上專場拍賣進行競投之有用資訊。我方建議閣下仔細閱讀以下指引，在參與網上專場拍賣前，了解網上專場（競投）平台之運作。閣下也請務必閱讀下文中載列的買家之業務規則（網上專場），留意蘇富比作為賣家代理人的角色；閣下應該特別參閱買家之業務規則（網上專場）第3及第4條。除非文意另有所指，否則本指引裡的條款與買家之業務規則（網上專場）涵義相同。

1. 在蘇富比登記已認證賬戶

如欲取得資格參與網上專場拍賣，閣下必須登記並持有一個已認證賬戶。登記手續要求閣下提供借記卡或信用卡資料、地址，以及確認閱讀並接受我方的買家之業務規則（網上專場）、真品保證及本網上專場拍賣購買指引。如欲參與網上專場拍賣競投，閣下必須在希望競投之相關網上專場拍賣的第一項拍品競投結束前，登記為已認證賬戶之持有人（閣下也需要在申請期間按要求向蘇富比提供相關資料）。關於如何成為已認證賬戶之持有人，請詳見買家之業務規則（網上專場）第5條。

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。

2. 瀏覽網上專場拍賣拍品

相關網上專場拍賣開售後，專場內每項拍品之網上拍賣資料即可供閣下參考。部分網上專場拍賣或備PDF圖錄，可於網站查閱。

拍前估價

如買家之業務規則（網上專場）所述，蘇富比提供的每項拍品之網上拍賣資料包括拍前估價，作為準買家之指引，協助他們決定競投拍品的合適出價。以我方所見，拍品網上拍賣資料裡高位及低位拍前估價之間任何金額的出價，均有可能競投成功。儘管如此，閣下請務必理解，拍品的最終售價有可能高於或低於拍前估價。建議閣下在提交出價前查閱拍前估價。請注意，網上拍賣資料裡的拍前估價不包括買家酬金、營運附加費、任何適用稅款或關稅。

拍品狀況

網上拍賣資料包括電子圖錄之拍品描述；蘇富比僅出於方便而提供的任何與拍品相關之電子狀況報告（拍品電子圖像應被當作任何上述狀況報告之一部分）；任何與拍品或網上專場（競投）平台發表的網上專場拍賣指引（包括本網上專場拍賣購買指引）相關之其他資料。

所有拍品均以網上專場拍賣上拍時的狀況出售。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。閣下請務必理解，閣下在提交某項拍品的出價前，將不會有機會檢驗該項拍品之狀況。關於閣下提交拍品出價之詳細準則，請參閱買家之業務規則（網上專場）第3條。

來源

在某些情況下，如藝術品之收藏歷史具備學術意義，或因知名藏家收藏而價值提升，蘇富比或會將此編入拍品之電子圖錄。然而基於各種原因，圖錄未必會透露賣家或先前擁有人之身份。例如，此等資訊不包括在內的原因可能由於賣家要求身份保密，或先前擁有人之身份因藝術品年份久遠而無法得知。

實際競投操作

在有身為出售拍品之遺產受益人或執行人、拍品之聯權共有人、提供或參與拍品擔保之一方等與拍品有直接或間接利害關係之人士參與競投的情況下，蘇富比會透過電郵通知閣下，並於網上拍賣資料裡發出通知，表明有利害關係之競投方可能會就該項拍品出價，而且有利害關係之競投方可能知悉底價。

蘇富比員只可在不知底價及全面遵守蘇富比監管僱員競投之內部規例的情況下參與競投。

付運及交付資訊

蘇富比可為買家就出口及物品付運事宜提供建議。蘇富比辦事處於上午九時半至下午六時開放，閣下可以透過電子圖錄裡的電話號碼聯絡售後服務部。購買物品將於售後服務部批准並收到閣下之書面寄送指示及任何所需之出口許可證或證書後儘快寄送。寄送安排費用由買家承擔。蘇富比可能會收到安排寄送代理人所支付之酬金。所有寄送方式的預算及資料均可查詢，查詢請電郵至hkpostsaleservices@sothebys.com。閣下之付運人將會提供一個貨運保險報價。所有貨物應在交付時取出檢驗，任何不符之處應立刻通知貨運承保人或付運人。

蘇富比樂意討論任何閣下感興趣之拍品。如欲進一步查詢詳情，閣下可以點擊網上專場（競投）平台拍品詳情頁面上的「索取資料」按鈕提交問題。

3. 在網上專場拍賣提交拍品出價

網上專場拍賣可以進行得非常迅速。彼此的競爭出價通常快速上升。閣下設立已認證賬戶後，只需輸入閣下的最高出價並點擊網上專場（競投）平台拍品詳情頁面上的「出價」按鈕，即可提交出價。如閣下尚未登記已認證賬戶，系統此時會指示閣下完成有關手續。閣下然後須按要求檢視及確認最高出價，並點擊「繼續確認出價」按鈕，完成提交程序。閣下接受並同意出價透過「繼續確認出價」按鈕提交，提高出價的方式在以下第4節中詳述。

從網上專場拍賣開始至拍品競投結束期間，可透過網上專場（競投）平台出價。

閣下出價可與網上專場（競投）平台顯示之起標價相同，或高於此金額。閣下亦可輸入一個最高出價，經確認後，平台會自動代閣下出價，以回應競投對手，包括蘇富比代表賣家以底價為最高限額（如適用）之出價，直至達到閣下之最高出價為止。蘇富比代表賣家以底價為最高限額之出價，會計算入網上專場（競投）平台顯示之總共出價次數中。目前最高出價將顯示給所有競投人士；閣下之最高出價金額及狀態僅顯示給閣下本人，除非它是目前最高出價。如閣下之出價狀態有變，閣下將收到電郵通知及推送提示（如閣下安裝了蘇富比應用程式）。

輸入閣下之最高出價（即閣下願意為拍品所付之最高金額）。只要閣下是最高出價者，網上專場（競投）平台就會代閣下逐口提高叫價，直至達到閣下之最高出價為止。蘇富比使用預定的每口叫價。請參閱網上專場（競投）平台拍品詳情頁面上的每口叫價數目網頁連結。如出現兩個相同的最高出價，首先收到的出價將獲優先處理。

4. 關注及提高出價

閣下之出價如被超越，將會收到電郵通知，電郵裡還會提供一條網頁連結，方便閣下提高出價。我方建議閣下在網上專場拍賣期間留意拍品出價，確保閣下直至網上專場拍賣結束前仍是最高出價者。閣下可點擊「繼續確認出價」按鈕，提交最新出價。

閣下如使用蘇富比移動應用程式，亦可透過「快速出價」出價，方法包括(i)將「快速出價」按鈕一直掃向螢幕右側；或(ii) 先後點擊「快速出價」及「出價」按鈕。

5. 符號說明　

符號以下為本圖錄所載符號之說明。

高估價拍賣品 蘇富比可要求競投高估價拍賣品（在目錄內標有

符號或網上目錄內標有✧符號）的準競投人完成預先登記程序及交付蘇富比港幣5,000,000元或其他由蘇富比決定之更大金額的訂金（此適用於任何中國藝術品，中國書畫，中國古代書畫，瑰麗珠寶與翡翠手飾及現當代藝術晚間拍賣）及交付港幣2,000,000元或其他由蘇富比決定之更大金額的訂金（此適用於任何其他類別之拍賣品）及任何財務狀況証明、擔保或/及其他由蘇富比可全權酌情決定要求的抵押作為參加蘇富比競投的保障。閣下請留意，我司無法在週末或公眾假期獲取財務證明。蘇富比是否接受任何預先登記申請的決定即為最終決定。若閣下的預先登記申請被接受，我司將為閣下提供特殊的號碼板。若在同一目錄中所有拍賣品均為高估價拍賣品，則會就此作出特別通知而不會使用此符號。

○保證拍賣品

附上○符號之拍賣品表示賣家獲本公司保證可在一次或一連串拍賣中得到最低售出價。此保證可由蘇富比、第三方或由蘇富比與第三方共同提供。若成功售出保證拍賣品，提供全部或部份保證之第三方可能會取得財務利益；惟銷售不成功則可能會產生虧損。與蘇富比共同提供保證的第三方就保證拍賣品或會提供不可撤銷投標或以其他方式投標。若拍賣品在拍賣圖錄/PDF圖錄完成出版後方獲保證，該拍賣品之專屬網站頁面將附加此符號及「重要拍賣通知」亦會有附加註明。若同一拍賣會之所有拍賣品均得到此保證，「重要通知」將會註明，而此符號將不會用於每一項拍賣品。

△蘇富比擁有拍賣品擁有權權益

附有△符號之拍賣品表示蘇富比全部或部份擁有該拍賣品，或在拍賣品中擁有相等於擁有權權益之經濟利益。如蘇富比擁有圖錄內全部拍賣品之擁有權權益，則會就此作出特別通知而不會使用△符號。

⋑不可撤銷投標

附有此符號之拍賣品表示已有競投方就拍賣品向蘇富比做出不可撤銷投標的承諾。於拍賣進行時該投標將會以一確保拍賣品定能拍出之價格執行。該不可撤銷競投方可以超過不可撤銷投標之價格競投。如該方競投不成功，該方將會得到以最後落槌價作基準的補償。倘不可撤銷競投方競投成功，則須支付全數買家酬金及營運附加費，並且不會得到任何其他報酬補償。蘇富比或會不時就數項拍品達成不可撤銷投標協議。如有此情況，蘇富比會按照不可撤銷競投方未有成功得標的拍品，向其分配並支付賠償。在此情況下，不可撤銷競投方就其未能成功得標的任何拍品所獲的賠償，將不多於蘇富比所收取之買家酬金及其他支付給蘇富比款項相加的總額。倘不可撤銷投標於在拍賣圖錄印製後才接獲，蘇富比會以下列其中一種或一種以上的方式通知競投人：拍賣前或該拍品開拍前、拍賣會上的書面通告、於拍賣開始前在電子圖錄裡附載不可撤銷投標符號。蘇富比或任何附屬公司或會不時就該不可撤銷投標，為不可撤銷競投方提供籌資。。如不可撤銷競投方向任何人士對拍賣品作出建議，蘇富比要求不可撤銷競投方必須向該人士披露己方與拍賣品有經濟利害關係。如有顧問建議閣下或代閣下競投有不可撤銷投標之拍賣品，閣下應要求該顧問披露是否與拍賣品有經濟利害關係。

⊻ 有利害關係各方

附有此符號之拍賣品表示對拍賣品有直接或間接利害關係的各方可能對拍賣品作出競投，包括(i)出售拍賣品之遺產受益人，或(ii)拍賣品之聯權共有人。倘有利害關係的一方為成功競投人，他們須支付全數買家酬金及營運附加費，在某些情況下，有利害關係的各方可能知悉底價，倘在拍賣圖錄印製後才獲悉有利害關係的一方可能參與拍賣，一則示意有利害關係的各方可能對拍賣品作出競投之公告將於該拍賣品拍賣前作出。

□無底價

除以□符號另作註明外，所有在此圖錄之拍賣品均有底價。底價是由蘇富比和賣家共同設定之落槌價位，且絕對機密。拍賣品不會以低於該價售出。底價通常以低位估價之一定比例來設定，且不會高於低位估價。拍賣品如不設底價，缺席競投將以低位估價的10%開始出價。圖錄中之拍賣品如不設底價，均會以□符號註明。若在同一圖錄中之所有拍賣品均並非以底價出售，則會就此作出特別通知而不會使用此符號。

◉ 受限制物料

附有此符號之拍賣品於編制目錄當時已識別為含有有機物料，而有關物料可能受到進出口之限制。有關資料為方便買家查閱，而無附有該符號並不保證該拍賣品並無進出口之限制。競投人應參閱《買家之業務規則》第11條，亦請參閱「於拍賣會上購買指引」有關瀕危物種一節。一如「瀕危物種」條目所載，蘇富比無法協助買家將任何附有此符號的拍品運送到美國。

買家無法出口或進口任何附有此符號之拍品，並不能構成延遲付款或取消買賣的理由。

6. 結束網上專場拍賣

網上專場（競投）平台拍品詳情頁面會顯示每項拍品的競投截止時間。拍品會於網上專場（競投）平台拍品詳情頁面顯示的時間結束競投，除非該項拍品在預定結束時間的一分鐘內有人出價。如有最後一分鐘出價，蘇富比會把該項拍品的拍賣時段，從最後出價起計算，延長兩分鐘。任何一項拍品的拍賣時段延長，並不影響餘下拍品的結束時間。因此拍品未必按照項數次序結束競投。每項拍品結束前，閣下將收到另一封電郵通知及推送提示，告知閣下是否成功投得出價拍品。

7. 如何支付購買拍品之費用

如閣下是拍品之成功買家，蘇富比會在相關網上專場拍賣最後一項拍品競投結束後，在合理可行範圍內，儘快將列明應由閣下支付之總金額（及付款指引）的買家賬單電郵至閣下。買家賬單上列明之付款日期為收到賬單一方全數付款之到期日。請注意，我方保留拒絕來自登記買家以外人士付款、並要求審核此等付款之權利。閣下如有任何關於審核的問題，請聯絡我方之售後服務部。

網上專場拍賣拍品之成功競投人需支付買家酬金及營運附加費。在落槌價之上，成功競投人須額外支付買家酬金及營運附加費，作為買入價總額之一部分。在香港蘇富比舉行的網上專場拍賣中，買家酬金費率如下：拍品落槌價為港幣 3,500,000 元或以下，酬金以落槌價之25% 計算；港幣3,500,000元以上、至 31,000,000 元，則以20% 計算；超過港幣 31,000,000 元，則以 13.9% 計算。營運附加費涵蓋有關蘇富比設施、拍品處理及其他行政開支等蘇富比的部份營運成本，為落槌價之1%。

蘇富比亦會就蘇富比之已購拍品付運服務，應詢將列明由買家支付之買家付運費用的買家付運報價電郵至閣下，屆時蘇富比將會要求閣下確認交付地址。

除非情況超出蘇富比掌控或另有明確協議，當買家賬單上列明之款項於買家賬單上列明之付款日期前全數付訖、買家付運報價上列明之款項於買家付運報價上列明之付款日期前全數付訖、物品完成財務交付手續並向蘇富比提供任何所需出口許可證或證書後，蘇富比將於網上專場拍賣結束日期不超過三十(30)天後，將已購物品運送至閣下之交付地址。

如閣下是拍品之成功買家，亦須繳付以下適用費用：銷售稅、進口稅、關稅及適用於閣下國家之任何當地清關費用，例如美國貨物處理費、買家運費（包括貨運保險費）。詳情請參閱買家之業務規則（網上專場）。

請注意以下蘇富比收取款項之政策：

•蘇富比一般不會接納相當於80,000港元以上當地貨幣的現金或現金等值形式之單次或多次相關付款。

•蘇富比政策要求任何選擇以港元現金形式付款之新客戶或新買家提供：身份證明（政府簽發之含照片身份證明文件，例如護照、身份證或駕駛執照）及永久地址確認文件。感謝閣下合作。

•支票：支付予蘇富比香港有限公司。雖然以港元開出的香港銀行個人及公司支票均獲接納，但是除非閣下已預先安排支票承兌協議，否則物品須待此等支票兌現後方會交付。

•銀行匯款：我方發出之賬單會列明我方銀行賬戶之詳細資料。向閣下銀行發出之匯款指引請包括閣下姓名、蘇富比賬戶編號及賬單編號。

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。

•以港元現金形式及銀聯付款只能在蘇富比位於香港金鐘道88號太古廣場一期五樓之辦事處進行。

•我方保留向已收取款項來源索取證明之權利。

8. 付運、物品出口及相關事宜之其他資訊

所有貨物應在交付時取出檢驗，任何不符之處應立刻通知閣下報價單及／或附帶文件上列明的一方。任何拍品出口香港或進口至任何其他國家可能受限於一個或多個進出口許可證的批准。買家須負責取得任何相關進出口許可證。任何許可證申領遭到拒絕或取得此等許可證遭到延誤，均不得作為取消出售物品或任何延遲全額付款之理由。蘇富比在應詢並收取行政費的情況下，可代為申領將閣下拍品出口香港之許可證。蘇富比建議閣下保存包括許可證在內的所有進出口文件，因某些國家可能要求閣下向政府機構出示上述文件。

瀕危物種:由植物或動物材料（如珊瑚、鱷魚、象牙、鯨骨、玳瑁等）製成或含有植物或動物材料之物品，不論其年份或價值，均可能須申領許可證或證書方可出口至香港境外，且由香港境外國家進口時可能須申領其他許可證或證書。請注意，能取得出口許可證或證書並不確保可在另一國家取得進口許可證或證書，反之亦然。例如進口非洲象牙至美國境內乃屬非法，在某些旨在保育野生動植物的美國規例約束下，進口象牙至美國境內還有其他限制。

蘇富比建議買家向相關政府查核有關野生動植物進口之規定後再參與競投。買家須負責取得任何進出口許可證及／或證書，以及任何其他所需文件（請參閱買家之業務規則（網上專場）第10條）。請注意，蘇富比無法協助買家將任何含有象牙及／或其他受限制材料的拍品運送至美國境內。買家無法出口或進口此等拍品，均不得作為延遲付款或取消出售物品之理由。

美國經濟制裁：美國維持對目標海外國家、集團及組織之經濟及貿易制裁。來自緬甸、古巴、伊朗、北韓及蘇丹等被制裁國家之某些物品可能在進口美國時受到限制。因上述或其他限制而導致買家無法將物品進口至美國或任何其他國家，不應作為取消或撤回出售物品或延遲付款之理由。如閣下不確定拍品是否受上述進口限制或任何其他進出口限制影響，請向專家部門查詢。

買家稅項資訊

買家應注意，購買後入口物品時，可能須繳付本地之綜合銷售稅或使用稅（例如已購物品進口至美國某些州份時可能會徵收使用稅）。買家應該就此自行徵詢意見。

如蘇富比為買家將本網上專場拍賣中之物品付運至蘇富比已註冊收取銷售稅之美國州份，不論買家居住於任何國家或是否該國公民，蘇富比必須按法例規定，根據該物品之買入價總額（包括落槌價、買家酬金、營運附加費、付運費用及保險），收取並繳交相應州份之現行銷售／使用稅額。如買家在交付物品前向蘇富比提供有效的轉售豁免證明書，將不會獲徵收銷售／使用稅。希望為已購買物品提供轉售或豁免證明書之客戶應聯絡售後服務部。

希望蘇富比將其已購買拍品付運至美國境內之客戶，請在安排付運前聯絡售後服務部。

寶石處理及狀況

傳統上而言，寶石經過各種技術處理，以提升顏色及改善整體外觀。其中最典型的紅寶石和藍寶石經過加熱、祖母綠經過浸油及樹脂填充，改善顏色及淨度。此類或其他技術，如染色、輻照、鍍膜及灌注，均可能用於其他寶石。雖然加熱處理效果永久一說已獲廣泛接受，但是買家理應假設任何處理皆非永久，隨時間推移，寶石或須特別保養。準買家請注意，除非圖錄資料特別說明寶石為天然，否則我方假設寶石或經過處理，而此等處理未必具有永久性。我方之拍前估價將此等假設考慮其中。

在蘇富比取得含有寶石處理資料的實驗室報告的情況下，該報告會供準買家參閱。由國際認可之寶石實驗室簽發的可參閱報告會在拍品描述裡列明。全新的處理手法及全新的科學識別方式一直不斷研發。因此，實驗室之間也許未能就寶石是否經過處理、處理之程度或處理之永久性達成一致意見。

載於電子圖錄的拍品描述及證書或寶石實驗室簽發之報告僅供競投人參考，蘇富比不就上述證書或報告之準確性及內含條款或資料作出保證，並不為此承擔責任。請注意，實驗室對寶石的評估方式（包括來源及外觀、種類及處理程度）及其證書或報告內含之結果或有不同。

鑽石方面，蘇富比與聯合國安全理事會同樣關注可能來自安哥拉及塞拉利昂的未經切割鑽石。我方全面遵從安全理事會有關此等事宜的決議。

買家之業務規則（網上專場）

本買家之業務規則（網上專場）載列蘇富比及委託拍品予競投人購買之賣家須遵從的條款。

閣下應在出價競投任何拍品前，仔細閱讀本買家之業務規則（網上專場）及網上拍賣資料（包括但不限於上文之網上專場拍賣購買指引）。競投人應特別留意下文規則第4條，當中包括蘇富比及賣家在法律責任方面之特定限制及免除條文。

在網上專場（競投）平台之網上專場拍賣競投拍品，閣下同意本買家之業務規則（網上專場）及網上拍賣資料於閣下具有合約約束力。如閣下是網上專場拍賣拍品之成功競投人，即同意本買家之業務規則（網上專場）及適用之網上拍賣資料為規管蘇富比、賣家及競投人關係之合約的組成部分。

1. 引言

(a) 蘇富比及賣家與準買家之間的合約關係由以下條文規管：

(i) 本買家之業務規則（網上專場）；

(ii) 賣家之業務規則（網上專場），可供閣下索取；

(iii) 網上拍賣資料（包括但不限於上述之網上專場拍賣購買指引）；及

(iv) 蘇富比真品保證，適用於物品一項（詳見下文）。

(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。

(c) 根據歐盟消費者權益指令，網上拍賣資料亦會顯示賣家是否網上消費者（據此推論並非網上交易者）。此做法之所以重要，是因為歐盟消費者權益指令規定，如賣家是網上交易者且買家是網上消費者，買家應有權取消購買拍品（須依照本買家之業務規則（網上專場）第11條之程序進行）。如賣家是網上消費者，則無權取消購買拍品，然而買家（根據歐盟消費者權益指令）可能有權取消蘇富比提供的某些與購買拍品相關之服務（須依照本買家之業務規則（網上專場）第12條之程序進行）。

2. 一般條款

於本買家之業務規則（網上專場拍賣）:

「額外之買家費用」指買家就該拍品之出售應向蘇富比支付的任何其他成本或費用

「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

「買家」指透過網上拍賣平台在一場網上專場拍賣上的最高出價者（在本「買家之業務規則（網上專場拍賣）」亦稱為「閣下」）；

「買家酬金」指買家按落槌價應付之佣金（根據上述「網上專場拍賣購買指引」所載的費率）

「買家付運成本」 指買家就蘇富比為買家已購買的拍品所提供的送貨服務所需支付之任何包裝、處理及付運成本和收費（包括任何涵蓋運輸保險的成本）；

「贋品」之涵義一如蘇富比「真品保證」條目所定（下文）；

「體驗活動」指網上專場拍賣所包括的每項活動體驗；

「體驗活動資料」 指網上專場平台及網上圖錄所載關於每項活動的資料；

「落槌價」指在一項拍品在網上專場拍賣中獲接納之最高出價；

「歐盟消費者權益指令」指2011年10月25日就消費者權益頒布之歐洲議會及歐盟理事會第2011/83/EU號指令；

「拍品」指在網上專場平台上進行的網上專場拍賣中提供作銷售的項目；

「網上拍賣取消期限」 指自網上消費者（或除承運人外、由網上消費者指定之個人）實質管有拍賣品起計算的十四(14)天；

「網上服務取消期限」 指自蘇富比就為網上消費者提供的送貨服務而締結合約當日起十四(14)天；

「網上消費者」指身處歐盟之個人，而該人士購買拍賣品，其行為目的與個人之行業、業務、工藝或專業完全或大部分無關；

「網上專場拍賣」指僅透過蘇富比及我方合作者提供的網上專場平台進行的拍賣；

「網上專場平台」指由蘇富比及我方合作者提供的網上專場拍賣平台及相關技術服務，並僅可透過網絡使用，讓買家在以時間為依據的拍賣會中競投及購買拍品。

「網上拍賣資料」指拍品資訊，包括但不限於任何拍賣前估價；任何關於來源的資料；網上圖錄中關於該拍品的描述；任何在蘇富比網頁上以PDF格式出現的該網上專場拍賣圖錄；任何由蘇富比提供、關於該拍品的狀況報告（此類狀況報告應被視為包括該拍品的網上圖片）；任何其他關於該拍品的資料，或網上專場平台公佈的網上專場拍賣之進行（包括但不限於上述的「網上專場拍賣購買指引」）；任何關於該場網上拍賣的屏幕通知；

「網上交易者」指作為拍品賣家之人士，其行為目的與其行業、業務、工藝或專業相關；

「營運附加費」指根據拍賣圖錄內之「網上專場拍賣購買指引」所載費率，買家應按落槌價支付之有關蘇富比設施、拍品處理及其他行政開支等蘇富比的部份營運成本；

「買入價」指落槌價加上適用之買家酬金及營運附加費；

「底價」指賣家同意出售拍賣品之最低價格，此底價為保密，該拍品不可以低於此價格出售；

「賣家」指提供拍賣品出售之人士（包括其代理人（不計蘇富比在內）、遺囑執行人或遺產代理人）；

「蘇富比」指蘇富比香港有限公司，註冊地址為香港皇后大道東183號合和中心54樓；

「蘇富比公司」指位於美國的蘇富比及任何其附屬公司（包括位於倫敦的蘇富比）、蘇富比鑽石及其附屬公司（在各情況下，「附屬公司」的意義均按《公司條例》第622章第2條所指）；

「標準網上送貨費用」指使用蘇富比網上送貨服務將拍品送貨至買家所產生的收費款額；

「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

「已認證賬戶之持有人」指維持一個已認證賬戶的個體或實體。

3. 競投人及蘇富比有關銷售物品之責任

(a) 蘇富比對各項拍品之認識部份依賴賣家向其提供之資料，蘇富比無法並不會就各拍賣品進行全面盡職審查。競投人知悉此事，並承擔檢查及檢驗之責任，以使彼等滿意彼等可能感興趣之拍品。

(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。

(c) 提供予競投人有關任何拍品之網上拍賣資料，及任何其他估價資料（不論書面或口述），或其他報告、評論或估值，並非事實之陳述，而是蘇富比所持有之確實意見聲明，故任何估價均不能成為對拍品售價或價值的預測，且可由蘇富比不時全權酌情決定修改。

(d) 蘇富比或賣家概無就任何拍品是否受任何版權所限或買家是否已購買任何拍品之版權而作出代表陳述或擔保。

(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：

(i) 賣家向其提供之資料；

(ii) 學術及技術知識；及

(iii) 相關專家普遍接納之意見，在各情況下作出任何該等明示聲明之時，作出謹慎處理。

4. 對買家之責任豁免及限制

(a) 如蘇富比視拍品為膺品，所適用之真品保證的每項規則已滿足，則我方會將買入價退還予買家。

(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（競投）平台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。

(c) 除非蘇富比擁有出售之拍品，否則毋須就賣家違反任何此等規則而負責。

(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。

5. 登記參與網上專場拍賣競投

(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）。

(b) 如閣下未曾在蘇富比拍賣會中參與網上競投，閣下需建立一個已認證賬戶，才能登記參與特定的網上專場拍賣，並有資格在該特定的網上專場拍賣上出價競投。在註冊過程中，閣下需要在有意競投的網上專場拍賣的首項拍品結束競投前二十四小時提交開啟已認證賬戶之申請（作為申請過程之一部分，閣下亦需向蘇富比提供某些資料），以建立已認證賬戶，請跟從以下網址所提供的註冊指引：

www.sothebys.com/accountcreation

(c) 如閣下已經建立已認證賬戶，您可使用現有的使用者名稱及密碼，登入適用的網上專場拍賣。當您完成登記該特定網上專場拍賣後，您可使用現有的已認證賬戶提交出價（如閣下擁有多個賬戶，需為特定網上專場拍賣選擇一個交易賬戶）。請跟從以下網址提供的登入指引，以登入您的已認證賬戶：

(d) 在一場網上專場拍賣上登記競投（不論是以個人身份或代表公司），即表示閣下在網上專場拍賣提交出價時明白並同意 (i) 如閣下以個人身份競投，即以當事人身份接受下列條款8(b)所定義的款額的個人支付責任，及(ii) 如閣下以已指明身份的第三者之代理人身份競投，則接受與閣下的當事人支付買入價的連帶責任。

(e) 為建立已認證賬戶，閣下須按要求提供資料，包括有效信用卡或可接納之付款方式的資料。蘇富比全權酌情決定拒絕在網上專場拍賣上登記或競投的申請。在整個註冊過程中，蘇富比全權酌情決定要求競投人提供蘇富比或會要求的此類額外資料及參考。

(f) 蘇富比保留在網上專場拍賣之前、期間或之後任何時候停止閣下已認證賬戶的權利。

6. 在網上專場拍賣會上競投

(a) 競投以特定金額起標（低於該拍品的拍賣前低估價）並按每口叫價遞增，每口叫價在與該拍品相關的網上拍賣資料中有列明，並由蘇富比決定。在網上專場拍賣期間，蘇富比可能會更改每口叫價的數目，並由我方全權自行決定。競投者只可在特定的日期和時間期間就拍品提出競投，此日期和時間在與適用的網上專場拍賣相關的網上拍賣資料中有列明。

(b) 網上專場拍賣或會迅速發展。競價通常會快速遞增。閣下建立已認證賬戶後，輸入您的最高出價並點擊位於網上專場平台的拍品旁邊的「出價」按鈕，即可提交出價。如閣下仍未註冊為已認證賬戶持有人，到時系統會提醒您註冊。之後，系統會要求閣下覆查及確認您的最高出價，當點擊「繼續確認出價」後，閣下的出價即已提交。閣下接受並同意，點擊「繼續確認出價」後即已提交出價，而增加出價並則按下文(d)所列明的規則提交。

如競投人的電腦或移動設備成功在網上專場拍賣上提交出價，則表示競投人不可撤回地同意支付下列條款8(b)所定義的款額。蘇富比不會為競投人在出價競投期間的錯誤負責。

(c) 網上專場平台要求閣下提交的出價與每口叫價數目表列明的其中一組每口叫價，此數目表附於拍品旁邊，可供閱覽。

(d) 如閣下就某項拍品的出價領先，您會在網上專場平台收到通知，告知您是目前的最高出價者。如閣下被其他競投者超越，您會收到電郵通知，告知您相關情況，並附上鏈接，閣下可點擊鏈接以增加出價。您點擊「繼續確認出價」後，即已提交新的出價。

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」。

(e) 如閣下提交一個早已獲接受的出價金額，您的出價會被拒絕。

(f) 除非蘇富比決定根據下文第6(h)條行使著酌情權，拍品競投結束時的最高出價者就是成功競投人。此意味著，賣家與成功競投人之合約在拍品競投結束時已經締結。成功競投人將會收到電郵通知其任何成功的競投，蘇富比將按下文第8條向該位成功競投人發出賬單。

(g) 在所有爭議中，蘇富比持有的網上專場拍賣紀錄是絕對和最終的紀錄。如果閣下就您對拍品的競投及/或適用的網上專場拍賣所收到的任何訊息或通知與蘇富比持有的網上專場拍賣紀錄有差異，概以蘇富比持有的網上專場拍賣紀錄為準。

(h) 蘇富比保留權利，可全權酌情

I. 否定、收回或拒絕接納在網上專場平台所提交的任何出價，即使是較早前已獲接納的出價；

II. 不論是在網上專場拍賣開始前或期間撤回任何拍品或取消網上專場拍賣，而蘇富比與此等撤回或取消之相關責任一概無關；及

III. 分割或合併任何多於一項的拍品。

(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。

7. 網上專場平台的運作

(a) 除非另有說明，全部拍品均設底價，此底價不高於適用之網上專場拍賣開拍時的低估價。任何拍品如不設底價，在網上拍賣資料的拍品旁邊會顯示「無底價」符號。無論在任何情況下，系統均不會代賣家提出相等於或高於底價的出價。

(b) 蘇富比為客戶之便利而提供網上專場平台，而網上專場平台是由蘇富比合理謹慎地營運。利用網上專場平台讓人參與網上專場拍賣的應用程式，以寬頻連接（DSL或纜線數據機）達到最佳效果。超越我方合理控制範圍以外的寬頻或其他網絡載容量制約、企業防火牆及其他技術問題，或會為一些用家造成困難，包括例如透過網上專場平台進入網上專場拍賣，及維持此連接等相關問題。蘇富比不對競投人透過網絡或移動設備使用網上專場平台的任何錯誤或失敗負責（除非此錯誤或失敗是在蘇富比合理控制範圍內），該錯誤或失敗包括但不限於：(i) 競投人與網上專場平台之間失去連接；(ii) 與網上專場平台有關的網上競投軟件或其他技術服務出現故障或問題；及/或(iii) 任何網絡連接、電腦或移動設備出現故障或問題。

(c) 作為準競投人，閣下明白並接受閣下在網上專場拍賣會競投出價前，將不會有機會檢驗拍品。

(d) 閣下明白並接受蘇富比擁有絕對酌情權，在與賣家事先協議下於網上專場拍賣期間任何時候降低任何拍品的底價。

8. 已購拍品付款

(a) 如閣下是拍品的成功買家，閣下將會在相關網上專場拍賣最後一項拍品競投結束後，在合理可行的範圍內儘快收到蘇富比以電郵形式寄出的賬單。如閣下從網上專場競投平台收到的任何電郵通知與蘇富比在相關網上專場拍賣結束後寄予閣下的賬單出現差異，則以賬單為準。有關賬單付款之條款及規則載列如下。

(b) 已購拍品之買入價賬單（「買家賬單」）將包括：

(i) 落槌價；

(ii) 買家酬金；

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」）。如欲了解更多詳情，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。

(c) 蘇富比會按每項已售拍品之落槌價向買家收取買家酬金及拍賣營運酬金。買家酬金及拍賣營運酬金之金額載列於上文的網上專場拍賣購買指引。

(d) 拍品之買家須全權負責繳付因拍品出售而導致之任何銷售稅或增值稅、銷售或補償使用稅或任何其他類似的應付稅項。有關該等稅項收費之更多詳情及指引，請參閱上文中載列的網上專場拍賣購買指引。

(e) 除非另獲蘇富比同意，否則買家在收到蘇富比所寄出之相關已購拍品賬單後，應立即支付拍品購買賬單上所列明之全部款項，以及在收到蘇富比所寄出之收據（「到期日」）後，不論該等拍品是否需要任何出口、進口或其他許可，均不得遲於四十八小時付款。蘇富比只會接受已登記競投人之付款，亦不能更改賬單上之買家姓名，或重新簽發一張與已登記競投人姓名不符之賬單。如閣下以公司名義登記競投，貴公司需以可接納之付款方式，以公司名義支付任何購買費用。支付部份拍品款項，或以多張信用卡為單項拍品付款，均不獲接納。有關可接納之付款方式的更多詳情，載列於上文中載列的網上專場拍賣購買指引。

(f) 根據上述規則第8(b)條，已購拍品之擁有權將於蘇富比悉數收取該項拍品之全部款項後方可轉移。直至拍品之擁有權已轉移及合適身份證明已提供，蘇富比概無責任將拍品交付予買家，而任何提早交付均不會影響擁有權之轉移或上述規則第8(b)條所規定之買家支付該項拍品全部款項的無條件義務。

(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。

(h) 如閣下無法根據上述規則第8(b)條在到期日前向本公司支付已購拍品之全部款項，蘇富比將有權行使下文規則第9條所列明之任何補償方法。

9. 欠繳款之補償方法

在不損害賣家可能擁有之任何權利的情況下，如買家在未經事先協定之情況下無法在到期日前支付拍品款項，蘇富比可全權酌情決定（在已知會賣家的情況下）行使以下一項或多項補償方法：

(a) 將該項拍品貯存在其處所內或其他地方，風險及費用完全由買家承擔；

(b) 取消出售該項拍品；

(c) 以蘇富比公司欠付買家之任何款項抵銷買家就該項拍品欠付蘇富比的任何款項；

(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；

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

(e) 拒絕買家未來所作出的競投，或就該等競投收取訂金；

(f) 自到期日起至本公司收到全數結清之買入價及相關額外買家費用之日（判決前後），以每月不超過2％的利率收取利息；

(g) 對蘇富比公司擁有之任何買家的物品行使留置權。蘇富比應將該等留置權的任何行使情況通知買家，並可在該等通知發出後的十四（14）日內安排出售該等物品，並將所得收益用以支付欠付蘇富比的款項；

(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；

(i) 展開法律訴訟，以追討該項拍品之買入價及額外買家費用，連同利息及在全額彌償基準下之該等訴訟費用；或

(j) 向賣家透露買家之姓名及地址，讓賣家展開法律訴訟，就買家違反合約追討賠償及法律費用。向賣家透露該等資料前，蘇富比會將採取合理步驟通知買家。

10. 運輸及付運

(a) 如上文規則第8條所列明，如有要求，閣下將會以電郵形式收到買家付運報價。一旦閣下接受買家付運報價，而買家亦在列明之付款期限前支付了已購拍品及買家付運報價上列明的全部款項，則蘇富比會根據閣下在已驗證賬戶上所提供之地址，將已購拍品儘快交付予買家。

(b) 買家有責任支付買家付運報價上列明的買家付運費用。雖然蘇富比應儘適當之努力謹慎處理、包裝及為已購拍品之任何付運提供協助，但蘇富比對為此等目的（包括但不限於已購拍品之任何包裝、付運或交付）而聘用之任何第三方的行為或疏忽概不負責。同樣，如蘇富比應買家之要求建議或推薦任何第三方處理人、包裝人或承運人，即表示閣下承認並同意蘇富比對其行為或疏忽不承擔任何法律責任，且閣下亦同意免除蘇富比承擔任何該等法律責任。

(c) 任何在網上專場拍賣出售之拍品均可能受其出售國的出口法律及其他國家之進口限制影響。許多國家均要求出口該國的物品呈交出口報關單，及/ 或進口該國的物品呈交進口報關單。取得所需許可證及 / 或執照或會導致額外費用及後續延遲。當地法律可能會禁止閣下進口某項拍品，或禁止閣下在拍品之進口國出售拍品。買家須自行負責為該項拍品識別並取得任何必須的出口、進口、軍火槍械、瀕危物種及其他許可證。本圖錄所載之任何符號或告示反映蘇富比於編制圖錄時所持之合理意見，並僅為競投人提供一般指引而已。如欲獲取更多有關出 / 進口限制的指引，請參閱上文中載列的網上專場拍賣購買指引。

(d) 在不影響上文規則第3及第4條的情況下，蘇富比及賣家概無就任何拍品是否受進出口限制或任何禁運作出代表陳述或擔保。不獲發任何許可證或執照並非取消或撤銷銷售合約或任何延遲付款之充分理由。

(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）。

11. 取消網上專場拍賣

(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文件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。請注意，拍品退還予蘇富比時之狀態，應與網上消費者或其代表人收取該拍品時相同。如退還之拍品的價值有損失，而該損失是閣下處理不當而導致的結果，蘇富比將扣除部分退還之款項。

(d) 除非另獲明確同意，否則蘇富比將以網上消費者在首次交易時所使用的付款方式，將款項退還予網上消費者。蘇富比不會就退還手續向網上消費者收取任何費用。

(e) 如閣下選擇之交付方式並非蘇富比所提供之最便宜的標準交付方式，或因閣下將拍品退還予我方而導致我方產生任何進口稅，則蘇富比將不會按所產生的任何額外支出金額向網上消費者作出退還。蘇富比有權從退還款項中扣除因閣下之不必要處理而導致的任何拍品價值損失之金額。

(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地址。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。

12. 取消服務

(a) 如買家和賣家均為網上消費者，則買家無權取消銷售合約（遵循上文規則第11條）。不過，買家有權在網上拍賣取消期限內，取消蘇富比同意就閣下購買拍品向買家提供之任何交付服務的合約，而毋須給予任何解釋。

(b) 作為網上拍賣之買家，閣下要求蘇富比在網上拍賣取消期限內立即開始執行交付服務。如閣下其後在網上拍賣取消期限內決定行使閣下的權利以取消使用服務（遵循上文規則第12條），閣下應向蘇富比支付與閣下行使取消權時已提供之服務價值成比例的金額。蘇富比在得悉閣下取消服務之決定的第二日起，會不作無故拖延並在任何情況下不遲於十四（14）日內，向閣下退還款項。除非另獲明確同意，否則蘇富比將以網上消費者在首次交易時所使用的付款方式，將款項退還予網上消費者。蘇富比不會就退還手續向網上消費者收取任何費用。

(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文件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

收件人：蘇富比 [輸入蘇富比集團旗下並在網上拍賣資料中指定之公司名稱]

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，

網上消費者姓名：

網上消費者地址：

網上消費者簽署 [只適用於紙本通知]

日期：

[*] 刪去不適用者

13. 適用於「體驗活動」拍品之額外條文

(a) 現況

每項「體驗活動」皆按「現況」出售，並無任何形式之代表陳述或擔保。在不局限於上述之一般性原則下，蘇富比明確否認某特定用途的商售性或適用性之暗示代表陳述或擔保、狀況的代表陳述及擔保、「體驗活動」的尺寸、質量、稀有程度、重要程度、來源、文獻或歷史關係、或與「體驗活動」有關之任何網上拍賣資料的質量、準確性、及時性、非侵權性、完整性或可靠性，包括任何「體驗活動資料」或任何「體驗活動」之其他描述，及在處置或交易使用過程中所產生的任何陳述或擔保。不論口述或書面、不論在圖錄、廣告，或任何地方張貼之告示，皆不可視為我方之擔保、代表陳述或法律責任之承擔。蘇富比毋須就任何網上拍賣資料與「體驗活動」有關之內容錯誤及遺漏負責，包括任何「體驗活動資料」或任何補充資料。

(b) 不具認可

蘇富比並不計劃、舉辦、營運或履行該項「體驗活動」。蘇富比並無認可、驗證、擔保、調查或審查任何「體驗活動」。蘇富比對任何「體驗活動」均不作任何明示或暗示的代表陳述或擔保。蘇富比對與任何「體驗活動」之供應及銷售有關之估價、描述或任何其他事項概不負責。有關「體驗活動」之資料由賣家提供。蘇富比並無驗證此資料的準確性。

(c) 費用及開支

就每項「體驗活動」而言，除非「體驗活動」列表中就適用之「體驗活動」另有明確列明，否則任何附帶的費用及開支（例如旅行、食物或住宿費用）均由買家自行承擔。

(d) 撤回拍品

蘇富比可在網上專場拍賣開始前、拍賣期間及拍賣結束後撤回任何「體驗活動」，而毋須就此承擔任何法律責任。

(e) 有限法律責任

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。

就任何「體驗活動」拍品之銷售而言，在不局限於上述之一般性原則下，蘇富比方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」所產生或與之相關任何附帶的、懲罰性的、特殊的、示例性的或後果性的損害，包括利潤損失、數據或商譽損失、服務中斷、計算機損壞或系統故障或替代服務的成本承擔法律責任，不論是否基於擔保、合約、侵權（包括疏忽）、產品責任或任何其他法律理論，以及是否已知會該等人士或實體該等損壞的可能性，即使發現本文所述之有限補償方法未能達到其基本目的。

就任何「體驗活動」拍品之銷售而言，蘇富比方對任何其他第三方未遵守任何適用法律及法規概不負責。各蘇富比方明確否認及閣下免除各蘇富比方為任何其他第三方或實體的任何行為或遺漏承擔任何及所有法律責任。蘇富比無法控制買家或任何客人與賣家或任何第三方之互動，各蘇富比方亦明確否認，及閣下免除各蘇富比方承擔就該等互動所產生或與之相關的任何法律責任。

閣下同意，閣下就任何「體驗活動」或網上專場拍賣所產生或與之相關而尋求獲取的任何法律補償方法或法律責任，將僅限於向賣家或其他第三方的申索。閣下同意不對任何蘇富比方施加或試圖施加任何法律責任，或就任何「體驗活動」或網上專場拍賣向任何蘇富比方尋求法律補償方法。

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（除規則第 14(a) 條所載列之擔保以外）：

(i) 當事人並非受制裁人士，或非由受制裁人士擁有（或部分擁有）或控制；

(ii) 用於購買拍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，且代理人與當事人之間對拍品的安排或其他方式並無全部或部份助長稅務犯罪；

(iii) 代理人或當事人之已購拍品並非出於以下目的購買，或以與之相關的任何方式使用，或助長違反任何使用稅務、反洗錢或反恐法律或法規；

(iv) 代理人已根據所有適用的反洗錢及制裁法律及法規，向拍品之當事人進行適當的客戶盡職審查，且代理人並不知情亦無理由懷疑用於結算款項的資金源自任何犯罪活動之收益或與犯罪活動之收益有關，或最終買家正遭受調查，或被指控或裁定涉及（包括但不限於）逃稅、洗錢、恐怖主義活動或其他犯罪活動；

(v) 代理人同意蘇富比依靠代理人之客戶盡職審查，且代理人將保留證明代理人已進行客戶盡職審查之文件不少於五年。代理人將根據蘇富比之書面要求立即提供此類文件，以供一名獨立的第三方核數師立即審核。

(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。

15. 一般資料

(a) 拍賣會之全部影像及其他物料均屬蘇富比版權所有，由蘇富比酌情決定其用途。

(b) 向蘇富比發出之通知應以書面發出，註明銷售之負責部門及銷售圖錄開端指定之參考號碼。向蘇富比客戶發出之通知應以彼等正式通知蘇富比之最新地址為收件地址。

(c) 如因任何理由無法執行該等買家之業務規則（網上專場）的任何條文，則餘下條文應仍然具有十足效力及作用。

(d) 未經蘇富比之事先書面同意前，任何買家均不得轉讓該等買家之業務規則（網上專場），但對買家之繼承人、承付人及遺產執行人具有約束力。蘇富比之行動、遺漏或延遲不應視為豁免或解除其任何權利。

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(e) 該等買家之業務規則（網上專場）不包括合約（第三方權利）條例（第623章），且不適用於根據其訂立之任何合約。

(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。

16. 資料保護

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enquiries@sothebys.com 索取。

17. 法例及司法管轄權

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 - 就蘇富比之利益而言，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。

送達法律程序文件 - 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地址或任何其他常用地址。

蘇富比對任何物品之真品保證（除書本及珠寶外，適用於下文中載列的真品保證）

如蘇富比所出售之物品其後被發現為「贗品」，根據下文之條款，蘇富比將取消該銷售，並將買家就該項物品支付予蘇富比之總金額，以原銷售之貨幣退還予買家。

就此而言，根據蘇富比之合理意見，「贗品」是指為了欺騙作品出處、原產地、日期、產出年數、年期、文化或來源等各方面而仿製的拍品，而上述各項之正確描述並無收錄於目錄內容（考慮任何專有詞彙）。拍品之任何損毀及／或任何類型之復元品及／或修改品（包括重新塗漆或在其上塗漆），均不應視為贗品。

請注意，如發生以下任何一種情況，本保證將不適用：－

(i) 圖錄內容乃根據學者及專家於銷售日期獲普遍接納之意見，或該圖錄內容顯示該等意見存在衝突；或

(ii) 於銷售日期，證明該物品乃贗品之唯一方法，為有關工序並非當時普遍可用或認可、價格極高或用途不切實際；或可能已對拍品造成損壞或可能（根據蘇富比合理之意見）已令拍品喪失價值之方法；或

(iii) 根據拍品之描述，該項拍品並無蒙受重大之價值損失。

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

(ii) 將狀況與銷售予買家當日相同，並能轉移其妥善所有權且自銷售日期後並無出現任何第三方申索之物品退還予蘇富比。

蘇富比可酌情決定豁免上述任何規定。蘇富比可要求買家賣名由蘇富比及買家雙方接納之獨立及業內認可專家之報告，費用由買家承擔。蘇富比毋須受買家出示之任何報告所規限，並保留權利尋求額外之專家意見，費用由蘇富比自行承擔。如蘇富比決定根據本保證取消銷售，蘇富比可將最多兩份經雙方審核之獨立專家報告所需之合理費用退還予買家。

蘇富比對珠寶之真品保證

如蘇富比所出售之任何寶石或珍珠，隨後被買家向蘇富比證明為並非真品或天然來源，根據下文之條款，蘇富比將取消該銷售，並將買家就該等寶石或珍珠支付予蘇富比之總金額，以原銷售之貨幣退還予買家。

本保證所規定之年期為有關拍賣日期後二十一 (21)日，純為買家之利益，且不可轉移至任何第三方。為可以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寶石或珍珠之真偽或屬性的資料後，在二十一 (21) 日內以書面形式通知蘇富比，列明拍品編號及購買該拍品之拍賣日期；及

(ii) 將狀況與銷售予買家當日相同，並能轉移其妥善所有權且自銷售日期後並無出現任何第三方申索之物品退還予蘇富比。

蘇富比可酌情決定豁免上述任何規定。蘇富比可要求買家取得獲蘇富比及買家雙方接納、由兩位獨立及業內認可專家撰寫的報告，費用由買家承擔。蘇富比毋須受買家出示之任何報告所規限，並保留權利尋求額外專家的意見，費用由蘇富比自行承擔。如蘇富比決定根據本保證取消銷售，蘇富比可將最多兩份經雙方審核的獨立專家報告所需之合理費用退還予買家。

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辭彙表

以下是在本圖錄中出現的辭彙例子。任何關於作者、推測之作者、出處、日期、年數、來源及狀況的陳述皆為觀點陳述，不應被視為事實陳述。請仔細參閱上文買家之業務規則（網上專場）及真品保證內載列的條款，尤其是買家之業務規則（網上專場）第3及第4條。

1. 喬瓦尼・貝利尼

蘇富比認為作品出自所指藝術家之手。當藝術家名字不詳，將在藝術家姓氏前以星號代替，無論姓氏前是否有字母縮寫，均代表蘇富比認為作品出自所指藝術家之手。

2. 傳為喬瓦尼・貝利尼

蘇富比認為作品可能出自所指藝術家之手，對藝術家的身份比上述第1種情況較為不肯定。

3. 喬瓦尼・貝利尼工作室

蘇富比認為作品出自所指藝術家工作室裡的不知名藝術家之手，而該不知名藝術家可能或可能並非受該藝術家的指示創作該作品。

4. 喬瓦尼・貝利尼周邊人士

蘇富比認為作品出自身份不詳但風格鮮明的藝術家之手，該藝術家與所指藝術家關係密切，但不一定是其學生。

5. 喬瓦尼・貝利尼風格

蘇富比認為作品以所指藝術家的風格創作，創作時間較為後期。

6. 隨喬瓦尼・貝利尼

蘇富比認為作品是所指藝術家已知作品的摹本。

7. 「簽名」及／或「紀年」及／或「題款」等辭彙表示蘇富比認為簽名及／或紀年及／或題款出自藝術家之手。

8. 「附簽名」及／或「附紀年」及／或「附題款」等辭彙表示蘇富比認為簽名及／或紀年及／或題款由其他人添加。

9. 尺寸為高度乘以寬度。

腕錶

所有腕錶皆按所見現況出售，不能以經過修理或零件並非所標示之製造商提供為由退還。

腕錶不能在陳列期間拆開。有此需要的準買家或其代理人應在拍賣前一星期與鐘錶部預約私人參觀時段。狀況報告可經查詢索取，然該等報告僅為觀點陳述，可能未具體列明所有機械零件更換或機芯、錶殼及錶盤的瑕疵。所有尺寸量度皆為約數。

配備防水錶殼的腕錶曾被拆開檢查機芯，但不保證腕錶目前防水。

請注意，我方不保證任何個別零件的真確性，例如齒輪、指針、錶冠、水晶錶蓋、螺絲、鍊帶及皮革錶帶，因為後期修復可能導致原廠零件更換。

請注意，以瀕危或受保護物種（例如短吻鱷及鱷魚）身體部位製成的錶帶不與腕錶一併出售，只作展示用途。我方保留在付運前移除此類錶帶的權利。而且我方不保證錶帶或錶鍊的製造物料。請注意，買家須負責遵守任何適用的進出口事宜，特別是關於瀕危物種及美國魚類及野生動物管理局的法規。

我方不對任何已出售拍品的狀況作出申述或保證。