may on occasions make reference to particular
imperfections of a lot, but Bidders should note
that lots may have other faults not expressly
referred to in the cataloguing or condition report.
Illustrations are for identification purposes only
and will not convey full information as to the
actual condition of lots.
for such lot.
activity; and
has been charged with or convicted of money
laundering, terrorist activities or other criminal
(d) Information provided to Bidders in respect
of any lot, including any estimate, whether
written or oral and including information
in any cataloguing, condition or other
report, commentary or valuation, is not a
representation of fact but rather is a statement
of opinion genuinely held by Sotheby’s.
that lot.
Neither Sotheby’s nor the Seller shall
under any circumstances be liable for any
consequential losses.
(e) None of this Condition 4 shall exclude or limit
Sotheby’s liability in respect of any fraudulent
misrepresentation made by Sotheby’s or the
Seller, or in respect of death or personal injury
caused by the negligent acts or omissions of
Sotheby’s or the Seller.
In the event such resale is for less than the
Purchase Price and Buyer’s Expenses for that
lot, the Buyer will remain liable for the shortfall
together with all costs incurred in such resale;
(i) commence legal proceedings to recover the
Purchase Price and Buyer’s Expenses for that
lot, together with interest and the costs of such
proceedings on a full indemnity basis; or
(j) release the name and address of the Buyer
to the Seller to enable the Seller to commence
legal proceedings to recover the amounts due
and legal costs.
PAYMENT AND COLLECTION
(a) Unless otherwise agreed, payment of
the Purchase Price for a lot and any Buyer’s
Expenses are due by the Buyer in pounds
sterling immediately on conclusion of the live
auction (the “Due Date”) notwithstanding any
requirements for export, import or other permits
(b) Title in a purchased lot will not pass until
Sotheby’s has received the Purchase Price
and Buyer’s Expenses for that lot 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 Purchase Price and Buyer’s
Expenses.
(c) The Buyer is obliged to arrange collection
of purchased lots no later than thirty (30)
calendar days after the date of the live auction.
Purchased lots are at the Buyer’s risk (and
therefore their sole responsibility for insurance)
from the earliest of i) collection or ii) the thirty-
first calendar day after the live auction.
Until risk
passes, Sotheby’s will compensate the Buyer for
any loss or damage to the lot up to a maximum
of the Purchase Price paid.
Buyers should note
that Sotheby’s assumption of liability for loss
or damage is subject to the exclusions set out
in Condition 6 of the Conditions of Business for
Sellers.
9.
BIDDER’S AND/OR 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.
12.
(b) Where the Bidder is bidding on behalf of
another person or acting as agent (in either
case, for the purposes of this Condition 9(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
(i) the Principal(s) is not a Sanctioned Person(s)
nor owned (or partly owned) or controlled by
(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
9(a)) that:
Sanctioned Person(s);
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 of the sale.
Notices to Sotheby’s clients shall be addressed
to the last address formally notified by them to
Sotheby’s.
(c) Should any provision of these Conditions of
Business be held unenforceable for any reason,
the remaining provisions shall remain in full force
and effect.
(d) These Conditions of Business are not
assignable by any Buyer without Sotheby’s
prior written consent, but are binding on Buyers’
successors, assigns and representatives.
No
act, omission or delay by Sotheby’s shall be
deemed a waiver or release of any of its rights.
(e) The Contracts (Rights of Third Parties)
Act 1999 is excluded by these Conditions of
Business and shall not apply to any contract
made pursuant to them.
(f) The materials listed in Condition 1(a) above
set out the entire agreement and understanding
between the parties with respect to the subject
matter hereof.
It is agreed that, save in respect
of liability for fraudulent misrepresentation, no
party has entered into any contract pursuant to
these terms in reliance on any representation,
warranty or undertaking which is not expressly
referred to in such materials.
(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.
5.
BIDDING AT AUCTION
(a) Sotheby’s has absolute discretion to refuse
admission to the live auction.
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.
(e) 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.
(f) Subject to the matters referred to at 3(a)
to 3(e) above and to the specific exclusions
contained at Condition 4 below, Sotheby’s shall
exercise such reasonable care when making
express statements in catalogue descriptions
or condition reports as is consistent with its role
as auctioneer of lots in the sale to which these
Conditions relate, and in the light of:
Bidders who
wish to bid in person must complete a Paddle
Registration Form and supply such information
and references as required by Sotheby’s.
Bidders act as principal unless they have
Sotheby’s prior written consent to bid as agent
for another party.
Bidders are personally liable
for their bid and are jointly and severally liable
with their principal if bidding as agent.
(b) Where available, telephone bids are offered
as an additional service for no extra charge, at
the Bidder’s risk and shall be undertaken with
reasonable care subject to Sotheby’s other
commitments at the time of the live auction;
Sotheby’s therefore cannot accept liability
for failure to place such bids save where such
failure is unreasonable.
Telephone bids may be
recorded.
Sotheby’s will take reasonable
steps to notify the Buyer prior to releasing such
details to the Seller.
(d) For all items stored by a third party and not
available for collection from Sotheby’s premises,
the supply of authority to release to the Buyer
shall constitute collection by the Buyer.
(e) All packing and handling is at the Buyer’s
(i) the information provided to it by the Seller; (c) Online bids are made subject to the risk.
Sotheby’s will not be liable for any acts or
Additional Terms and Conditions for Online omissions of third party packers or shippers.
(ii) scholarship and technical knowledge; and Bidding (published below and available on www.
(iii) the generally accepted opinions of relevant sothebys.com or via the Sotheby’s App) which 8.
REMEDIES FOR NON-PAYMENT
experts, in each case at the time any such apply in relation to bids submitted via an Online
Without prejudice to any rights the Seller may
express statement is made.
Platform, in addition to these Conditions of 13.
have, if the Buyer without prior agreement fails
Business
to make payment for the lot within five days
4.
EXCLUSIONS AND LIMITATIONS
of the live auction, Sotheby’s may in its sole
OF LIABILITY TO BUYERS
10. discretion (having informed the Seller) exercise
FAILURE TO COLLECT PURCHASES
(a) Sotheby’s shall refund the Purchase Price one or more of the following remedies:
to the Buyer in circumstances where it deems
(a) store the lot at its premises or elsewhere at
that the lot is a Counterfeit and each of the
Buyer’s sole risk and expense; con
itions of the Authenticity Guarantee has bee
satisfied.
14. LAW AND JURISDICTION
(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(f) above;
(ii) gives any guarantee or warranty to Bidders
and any implied warranties and conditions are
excluded (save in so far as such obligations
cannot be excluded by law) other than the
express warranties given by the Seller to the
Buyer in Condition 2 of the 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 auctions or for any matter
relating to the sale of any lot
6.
CONDUCT OF THE AUCTION
(a) Unless otherwise specified, all lots are
offered subject to a Reserve, which shall be no
higher than the low presale estimate at the start
of the live auction.
(b) The auctioneer has discretion at any time to
refuse any bid, withdraw any lot, re-offer a lot for
sale (including after the fall of the hammer) if he
believes there may be error or dispute, and take
such other action as he reasonably thinks fit.
(c) During the live auction, the auctioneer will
commence and advance the bidding at levels
and in increments he considers appropriate
and is entitled to place a bid or series of bids on
behalf of the Seller up to the Reserve on the lot,
without indicating he is doing so and whether or
not other bids are placed.
(d) Subject to Condition 6(b), the contract
between the Buyer and the Seller is concluded
on the striking of the auctioneer’s hammer,
whereupon the Buyer becomes liable to pay the
Purchase Price.
(e) Any post-auction sale of lots offered at
auction shall incorporate these Conditions as if
sold in the live auction.
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.
(a) If the Buyer pays the Purchase Price and
Buyer’s Expenses but fails to collect a purchased
lot within thirty calendar days of the live auction,
the lot will be stored at the Buyer’s expense (and
risk) at Sotheby’s or with a third party.
(b) If a purchased lot is paid for but not collected
within six months of the live auction, the Buyer
authorises Sotheby’s, having given notice to the
Buyer, to arrange a resale of the item by auction
or private sale, with estimates and reserves at
Sotheby’s discretion.
The proceeds of such
sale, less all costs incurred by Sotheby’s, will be
forfeited unless collected by the Buyer within
two years of the original live auction.
(b) cancel the sale of the lot;
(c) set off any amounts owed to the Buyer by a
Sotheby’s Company against any amounts owed
to Sotheby’s by the Buyer in respect of the lot;
(d) apply any payments made to Sotheby’s
by the buyer as part of the Purchase Price and
Buyer’s Expenses towards that or any other lot
purchased by the Buyer, or to any shortfall on
the resale of any lot pursuant to paragraph (h)
below, or to any damages suffered by Sotheby’s
as a result of breach of contract by the Buyer;
(e) reject future bids from the Buyer or render
such bids subject to payment of a deposit;
(f) charge interest at 6% per annum above
HSBC Bank plc Base Rate from the Due Date to
the date the Purchase Price and relevant Buyer’s
Expenses are received in cleared funds (both
before and after judgement);
(g) exercise a lien over any of the Buyer’s
property which is in the possession of a
Sotheby’s Company.
Governing Law These Conditions of Business
and all aspects of all matters, transactions or
disputes to which they relate or apply (including
any online bids in the sale to which these
Conditions apply) shall be governed by and
interpreted in accordance with English law.
Jurisdiction All Bidders and Sellers agree
that the Courts of England and Wales are to
have exclusive jurisdiction to settle all disputes
(including non-contractual disputes) arising
in connection with all aspects of all matters
or transactions to which these Conditions of
Business relate or apply.
Service of Process All Bidders and Sellers
irrevocably consent to service of process
or any other documents in connection with
proceedings in the Courts of England and Wales
by personal service, delivery by mail or delivery
by email at the last address of the relevant
Bidder or Seller known to Sotheby’s or any
other usual address, or in any other manner
permitted by English law, or by the law of the
place of service.
11.
EXPORTS AND PERMITS
It is the Buyer’s sole responsibility to identify and
obtain any necessary export, import, firearm,
endangered species or other permit for the lot.
Any symbols or notices published in respect of
the lot reflect Sotheby’s reasonable opinion at
the time of cataloguing and offer Bidders general
guidance only.
Without prejudice to Conditions
3 and 4 above, Sotheby’s and the Seller make
no representations or warranties as to whether
any lot is or is not subject to export or import
restrictions or any embargoes.
The denial of any
permit or licence shall not justify cancellation
or rescission of the sale contract or any delay
in payment.
(iv) the Agent has conducted appropriate
customer due diligence on the Principal(s)
of the lot(s) in accordance with all applicable
7. 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
laws or regulations;
(c) Unless Sotheby’s owns a lot offered for sale,
it is not responsible for any breach of these
conditions by the Seller.
(d) Without prejudice to Condition 4(b), any
claim against Sotheby’s or the Seller by a Bidder
is limited to the Purchase Price with regard to
SOTHEBY’S
Sotheby’s shall inform the
Buyer of the exercise of any such lien and within
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.
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