Archives International Auctions - Hong Kong
77
12 April, 2014
Archives International Auctions
CONDITIONS OF SALE
THE PLACING OF A BID SHALL CONSTITUTE ACCEPTANCE OF THESE CONDITIONS OF SALE
BIDDING
1. Unless announced otherwise by the auctioneer, all bids are per lot, as
numbered in the printed Catalogue. Archives International Auctions in as-
sociation with Dynasty, as agent for the consignor or vendor, shall regulate
the bidding and shall determine the manner in which the bidding shall be
conducted. Archives International Auctions in association with Dynasty, re-
serves the right to withdraw any lot prior to sale (without liability to any po-
tential purchaser or agent), to re-offer any withdrawn lot, to divide a lot or
to group two or more lots belonging to the same consignor or vendor, and
to refuse any bid believed not made in good faith. Estimates of sales prices
contained in the printed Catalogue reflect the best judgment of Archives In-
ternational Auctions in association with Dynasty,and are not minimum or
upset prices.
2. (a) Bids shall be made in the steps set forth on the bidding page (ii).
(b) The highest bid acknowledged by the auctioneer shall prevail. Should
a dispute arise between bidders (including a dispute between a floor
or nternet bidder and the auctioneer acting on behalf of a mail bid
der, consignor or vendor), the auctioneer alone shall determine who
the successful bidder is and whether to reoffer the lot in dispute.
Should a dispute arise after the sale, the auctioneer’s sale records
shall be conclusive. On all lots sold, a commission of 18% on the
hammer price is payable by the buyer to the auctioneer together with
any sales and use tax or customs duties.
3. (a) The auctioneer reserves the right to bid on behalf of clients (and con
signors or vendors) but shall not be liable for errors and omissions
in executing instructions to bid, however received, and whether such
errors or omissions be those of the bidder or agent or those of the
auctioneer.
(b) Lots are offered subject to a reserve price. The auctioneer will im
plement such reserve price by bidding on behalf of the consignor
vendor.
(c) Purchases made by a consignor or vendor or his agent on his own
lots shall be considered as a sale subject to commissions.
PAYMENT FOR PURCHASES
4. Payment for lots, including those on which opinions are desired
(Condition of Sale 7), shall be as follows:
(a) Floor Bidders. Payment of the purchase price, or such part there of
as Archives International Auctions in association with Dynasty, shall
require, shall be made by the purchaser in cash or bank or certified
check or in such other manner as Archives International Auctions in
association with Dynasty, may determine.
(b) Mail Bidders. A successful mail bidder will be notified of lots pur
chased. Before Archives International Auctions in association with
Dynasty, will send such lots, payment in full must be received by
Archives International Auctions in association with Dynasty, within
three (3) business days of receipt of the aforesaid notification by the
mail bidder. However, a purchaser known to Archives International
Auctions in association with Dynasty, at its option may have pur
chases delivered or forwarded for immediate payment. Mailed de
livery will be to the ad dress on the bid sheet and proof by Archives
International Auctions in association with Dynasty of receipt of a
sending at the advised address shall constitute delivery. All charges
for handling, delivery and insurance obtained by Archives Interna
tional Auctions in association with Dynasty on behalf of the pur
chaser shall be added to the purchase price..
5. Title shall not pass to the purchaser until full payment has been received
by Dynasty as agents for the consignor or vendor.
6. (a) Purchasers agree to pay for lots as specified in Condition of Sale 4
(or as the same may be modified by Condition of Sale 8), and no
credit is extended; a late payment charge of 2% per month or fraction
thereof shall be added if payment is not made in accordance with
the aforesaid conditions.
(b) In the event that a bidder shall fail to comply with these Conditions
of Sale (“Non-Complying Bidder”), then, as to any lot with respect to
which such failure to comply occurs, Archives International Auctions
in association with Dynasty, may, in its sole discretion, re-offer such
lot during the same auction or at an auction at a later time, or by pri
vate treaty at such time as D Archives International Auctions in as
sociation with Dynasty Auctions, in its sole discretion, deems appro
priate and the Non-Complying Bidder shall be liable for the defi
ciency, if any, between the hammer price and the net proceeds of a
sale to a subsequent purchaser, whether at auction or by private
treaty, as well as for all costs and expenses of both sales, all other
charges due there under, including commissions with respect to both
sales, whether payable to Dynasty or to a third party and all inciden
tal damages It shall be Archives International Auctions in associa
tion with Dynastys’ sole discretion to determine whether to re-offer
the lot theretofore hammered-down to a Non-Complying Bidder at
the same auction, or by private treaty in due course, or at a subse
quent auction conducted by Archives International Auctions in asso
ciation with Dynasty,. In no event shall any surplus arising from the
sale of a re-offered lot be payable to a Non-Complying Bidder.
(c) If Archives International Auctions in association with Dynasty takes
any legal steps to secure payment of a delinquent account, the de
faulting purchaser shall be liable for all legal and other expenses in
curred by Archives International Auctions in association with Dynasty
to secure such payment, including but not limited to a reasonable
allowance for attorneys’ fees. For purposes of this paragraph, the
term legal steps shall be deemed to include any and all consultation
by Archives International Auctions in association with Dynasty with
its attorneys with respect to all matters arising out of a delinquent
account.
(e) Unless otherwise acceptable to Archives International Auctions in
association with Dynasty, payment is to be made only in the form of
cash, bank check or certified check, personal check (which must
clear prior to delivery of lots), credit card (Visa or MasterCard only),
PayPal or a bankwire transfer.
INSTRUCTIONS FOR PAYMENT BY WIRE TRANSFER
Name of Bank: Bank of America ABA/Routing Number: 026009593
Swift Code: BOFAUS3N
Account #: 0023 7766 9642 Account Title: Archives International LLC
EXHIBITION AND INSPECTION OF LOTS; QUALITYAND AUTHENTICITY
7. (a) See viewing schedule for on-premises viewing. Ample opportunity is
given for on premises inspection prior to the auction date, and, upon
written request and at Archives International Auctions in association
with Dynasty’s discretion.
(b) Each lot is sold as genuine and correctly described, based on indi-
vidual description as modified by any specific notations in this
Catalogue.
(c) Quality. Any lot which a purchaser considers to be incorrectly de
scribed may be returned to Archives International Auctions in asso
ciation with Dynasty within two weeks of its receipt by such pur
chaser (“Returning Purchaser”), provided, however, that the same
is received by Archives International Auctions in association with Dy
nasty within four weeks of the date of the auction; however, Archives
International Auctions in association with Dynasty may, in its discre
tion, refuse acceptance of such returned lot. If an opinion of a mutu
ally acceptable authority is desired, the period of time within which
a lot must be received by Archives International Auctions in associ
ation with Dynasty will be extended in accordance with Condition of
Sale 8. In the event that a dispute cannot be resolved by reference
to a mutually acceptable authority, and Archives International Auc
tions in association with Dynasty thereupon undertakes to re-offer
the lot with a description identical to the description disputed, the
Returning Purchaser shall be liable for the deficiency, if any, between
the proceeds of the sale to the Returning Purchaser and the pro
ceeds of a sale to a subsequent purchaser, as well as for all costs
and expenses of the re-sale, including commission, and all incidental
damages. Any lot, the description of which is disputed, must be re
turned intact and in the original packaging and in the condition re
ceived (unaltered) by the purchaser. The following lots are not re
turnable except at the discretion of Archives International Auctions
in association with Dynasty: (i) lots from purchasers who attended
the exhibition of the lots; (ii) lots examined by postal viewers; (iii) lots
on account of their appearance, if they are illustrated in this Cata
logue; or (iv) lots described as having repairs, defects or faults for
any reason. (v) lots containing more than ten (10) items. (d) Authen
ticity. Any lot which is declared otherwise than genuine by a generally
recognized authority is returnable, provided such lot is received by
Archives International Auctions in association with Dynasty within
four weeks of the date of the auction. Proof that a mutually accept
able authority declines to express an opinion is not grounds for the
return of a lot.
(e) Expenses incurred a purchaser in the submission and the return of
a lot under Conditions of Sale 7 are not subject to refund.
