Hong Kong Contemporary

IMPORTANT: READ CAREFULLY All sales will be considered sold and final TIME AND PLACE All lots will be auctioned on Sunday 20th May 2012 at 230 pm. Venue: 28F, Park Lane Hotel,Causeway Bay,Hong Kong. REGISTRATION There is no fee to register. Bidders must register and be issued a bidder number prior to making any bid. Hong Kong Auctions (HKA, hereafter) shall have the right to, as its absolute discretion, to refuse to allow any person/organization to participate in the auction and to refuse admission to the auction venue to any person. TERMS AND CONDITIONS OF SALES 1. INSPECTION: All lots are available for inspection at the Location specified therein (the Location) from Friday, 18 May 2012 4:00 pm - 8:00 pm Saturday, 19 May 2012 12 noon - 8:00 pm Sunday, 20 May 2012 12 noon 2pm It is the duty of the bidders to inspect the goods. Each bidder will be deemed to have inspected the goods and acknowledged the conditions of the goods even if he has not made any inspection of goods for whatsoever reason (including the inability to procure an Auction List). Bidders will be deemed to have knowledge of all matters which they could reasonably have been expected to find out by the exercise of reasonable due diligence. 2 RESERVE . Lots in this sale are offered subject to a reserve. The reserve is a confidential minimum price agreed upon by the consignor and Hong Kong Auctions ltd. below which the lot will not be sold. In most cases, the reserve will be set below the estimated range, but in no case will it exceed the estimates listed. A representative of Hong Kong Auctions ltd. will execute such reserves by bidding for the consignor. In any event, and whether or not a lot is subject to a reserve, the auctioneer may reject any bid or raise not commensurate with the value of such lot. 3. ALL SALES ARE FINAL: Bidders should note that a sale by auction is complete when the Auctioneer announces its completion by the fall of the hammer, or in other customary manner. The person who makes the highest bid accepted by the Auctioneer shall be the buyer. In the case of a disputed bid, the auctioneer shall have sole discretion in determining the purchaser and may also, at his or her election, withdraw the lot or reoffer the lot for sale. 4. PAYMENT: All lots shall be paid for in Hong Kong dollars. After the conclusion of the relevant session of the auction in which the lot was sold, the buyer shall pay the full purchase price either by cash, EPS or credit card on the auction day. Time for payment is of the essence. The goods shall be at the buyer's risk from the fall of the hammer and must be paid for in full before the goods passes to the buyer. 5 BUYERS PREMIUM: A buyers premium of 15% shall be added to the final bid. 6. OUR EXTENT OF LIABILITY: We agree to refund the purchase price in the circumstances of the Limited Warranty. Neither the seller nor we, nor any of our officers, employees or agents, are responsible for the correctness of any statement of whatever kind concerning any lot, whether written or oral, nor for any other errors or omissions in description or for any faults or defects in any lot. Neither the seller, ourselves, our officers, employees or agents, give any representation, warranty or guarantee or assume any liability of any kind in respect of any lot with regard to merchantability, fitness for a particular purpose, description, size, quality, condition, attribution, authenticity, rarity, importance, medium, provenance, exhibition history, literature or historical relevance. Except as required by local law any warranty of any kind whatsoever is excluded by this paragraph. 7. FAILURE OF PAYMENT: If the full purchase price is not paid within 30 days of invoice then Hong Kong Auctions Ltd shall, in its absolute discretion, and without prejudice to any other rights which it may have, be entitled to exercise any one or more of the following rights or remedies: (a) To proceed against the buyer for damages for breach of contract (b) To resell the lot or cause it to be resold by public auction or private sale (c) To reject or ignore any bids made by or on behalf of the defaulting buyer at any future auction 8. DELIVERY AND COLLECTION. HKA bears no responsibility for delivery. Delivery and charges are buyerâ??s responsibility. Hong Kong Auctions ltd. may, in its discretion and at a purchaser's request, package and ship items as directed by the purchaser. In such event, purchaser agrees that (a) all such packaging, handling and shipping is at the sole risk of the purchaser and that Hong Kong Auctions ltd. shall have no liability for any loss or damage to such items, and (b) purchaser shall pay in advance, all packaging expenses, including labor, materials and postage and carrier fees, and all insurance charges. Allow two to six weeks for shipping. Import restrictions from foreign countries are subject to governing laws. 9. PREVENTION OF BRIBERY ORDINANCE (Cap 201): These Terms and Conditions of sale are governed by the Laws of Hong Kong. Potential bidders are reminded that they must comply fully with the provisions of the Prevention of Bribery Ordinance (Cap 201). 10. LAW AND JURISDICTION The rights and obligations of the parties with respect to these Conditions of Sale, the conduct of the auction and any matters connected with any of the foregoing shall be governed and interpreted by the Hong Kong laws. By bidding at auction, whether present in person or by agent, by written bid, telephone or other means, the buyer shall be deemed to have accepted these Conditions and submitted, for the benefit of HKA, to the exclusive jurisdiction of the Hong Kong courts, and also accepted that HKA also has the right to pursue remedies in any other jurisdiction in order to recover any outstanding sums due from the buyer.

NO Local Taxes Apply

Important Note Regarding Live Auctions Items offered are part of a live auction at Hong Kong Auctions 's gallery. Items are offered in numerical order and are auctioned at a pace of approximately 100 lots per hour. Please note Time Remaining time stamp IS NOT an accurate reflection of the hour at which the lots will be offered. Absentee bids left on Live Auction ARE NOT the same as bids left with the auction house directly. They are executed from a proxy computer terminal in the room against other Internet bidders. Other competitive bids include bidders on the telephone, in the room, and left bids with the auctioneer. Liveauctioneers does not provide the ability for auction houses to incorporate left bids from LiveAuctioneers Live Auctions with those left directly with the auction staff. Thus tie bids may occur between Live Auctioneers absentee bids and other bidders. In the event of a tie bid, the auctioneer has sole discretion to award the lot to the high bidder of his or her choosing--most often the floor bidder.