$1 Asian and Chinese Porcelains and Paintings

Terms and Conditions of Sale 1. On the fall of the auctioneer's hammer, the highest bidder shall be deemed to have purchased the offered lot in accordance with all of the conditions set forth herein and, thereupon will pay the purchase price in full. All property shall be removed from the premises the day of the sale. If the foregoing conditions or any other applicable conditions herein are not complied with, in addition to other remedies available to us and the consignor by law, including but without limitations the right to hold the purchaser liable for the purchase price, we, at our option, may either: i. cancel the sale, retaining as liquidated damages all payments made by the purchaser or: ii. resell the property on five days' notice to the purchaser and for the account and risk of the purchaser, either publicly or privately, and in such event the purchaser shall be liable for the payment of any deficiency plus all costs and expenses of both sales, our commission at our regular rates, all other charges due here under and incidental damages. 2. We reserve the right to withdraw any property at any time before the actual sale. Unless otherwise announced by the auctioneer at the time of sale, all bids are per lot as numbered in the catalog and no lot shall be divided for sale. 3. We reserve the right to reject a bid from any bidder. The highest bidder acknowledged by the auctioneer shall be the purchaser. In the event of any dispute between bidders, or in the event the auctioneer doubts the validity of any bid, the auctioneer shall have sole and final discretion either to determine the successful bidder or to re-offer and resell the article in dispute. If any dispute arises after the sale, our sales records shall be inclusive in all respects. 4. If we are prevented by fire, theft or any other reason whatsoever from delivery of any property to the purchaser, our liability shall be limited to the sum actually paid by the purchaser. 5. Where the consignor is indebted to or has a monetary guarantee from us, and in certain other circumstances, we may have interest in the offered lots and the proceeds there-from other than our commissions, and may bid through a representative or agent to protect such interest. We are entitled to our standard commission rate where a lot is "bought-in" to protect our interest. The owner, consignor or agent thereof has reserved the right to bid. 6. If a lot is offered subject to reserve (the confidential minimum price below which a lot will not be sold), we may implement such a reserve by bidding on behalf of the consignor. 7. All statements contained in the catalog or in any bill of sale, invoice or elsewhere as to authorship, period, source, origin, measurement or condition are qualified statements and shall not be deemed to be representations or warranties.