(a) the meaning of the words used in these Provisions
1. In the following paragraphs, some common words need to be explained. These words are as follows:
1. "Buyer" refers to the highest bidder accepted by this auction house.
1. "Auction items" refers to the items to be auctioned by our company, especially one or more items described by any number in any catalogue. 1. "Transaction price" refers to the highest bid accepted by the auction house for the auction items.
1. "Remuneration paid by the buyer" refers to the expenses paid by the buyer according to a certain proportion of the transaction price; See article 15(a) of part c for the charging standard. ..
1. "Bottom price" refers to the lowest price agreed between the company and the seller, and auction items cannot be sold below this price.
1. "Fake" means that the auction constitutes imitation, and the original idea and overall execution of imitation have fraudulent intentions to deceive the author, origin, year, period, culture or source of the auction, but the correct description of these matters is not reflected in the description of the catalogue, and the auction value on the auction day is far lower than its due value according to the description of the catalogue. According to this definition, any auction item will not become a fake due to any damage and/or any form of repair (including repainting).
1. "Insured value" refers to the value of the insurance that Christie's, in its absolute discretion, thinks should be purchased for the auction items (whether the insurance is arranged by the company or not).
(b) the seller
As an agent, Christie's is the seller's agent in public auction. An auction contract is a contract between a buyer and a seller.
3. The commission company collects the commission from the seller, which is calculated with reference to the transaction price. If the total transaction price of the seller reaches HK$ 7.5 million or more in a calendar year, the commission rate will be calculated according to the total transaction price of the whole year, not according to individual auctions. The commission rate payable is based on the total transaction amount of this year or last year, and the lower commission rate shall prevail, and shall be calculated according to the following proportions:
Annual commission rate of total transaction amount
750,000-65438+8% of the transaction price of HK$ 0,999,99.
7% of the transaction price of HK$ 2,000,000-3,999,999.
HK$ 4,000,000-5% of the transaction price of HK$ 7,499,999.
The transaction price is HK$ 7,500,000-4% of 65,438+09,999,99.
The transaction price is HK$ 20,000,000-2% of HK$ 39,999,999.
40,000,000 Hong Kong dollars or more. Both sides agree.
The company calculates and collects commissions in a progressive way after each auction, makes retrospective adjustments when necessary, and refunds the overcharged commissions at the end of each year.
The minimum commission for each auction item is HK$ 750 yuan, regardless of the total annual turnover.
If the total annual turnover of the seller is less than HK$ 750,000, the commission rate will be calculated according to the auction transaction price of individual items:
Commission ratio of auction price
00% of the transaction price of 65438+20,001-749,999.
05% of the transaction price of HK$ 65438+20,000 or less
However, the minimum commission for each auction is HK$ 750.
In addition to collecting the transaction price from the buyer, the company also collects the remuneration calculated according to the transaction price. The company also has the right to keep the remuneration.
Step 4 spend
The Seller shall be responsible for the following expenses:
(a) Packaging the auction items and transporting them to the company for auction;
Any applicable transportation insurance;
(c) If the auction item is returned to the seller, it will be packaged and shipped;
(d) Art insurance policy insured by Christie's (as follows);
(e) Any applicable tariffs;
(f) Illustrations of the catalogue;
(seven) any change in the auction target agreed with the seller in advance;
(h) framework:
(i) The company considers it necessary to be appraised by external experts in order to draft the catalogue;
(j) Any external expert opinion we deem appropriate:
(k) If the auction fails, a fee of 5% of the insured value will be charged as the company's share of general expenses;
(l) Storage of auction items (if applicable);
(m) The management expenses of the company are 65438+ 00% of all expenses incurred by you;
(n) any marketing expenses.
5A. Our company will arrange insurance.
(a) Unless otherwise agreed with our company, the auction items will be automatically insured by Christie's art insurance policy, and the insurance amount will be considered appropriate by our company at that time. But the insured amount is not the amount that the company promises to make the auction successful.
(b) The Company will charge the seller 1% of the transaction price as the insurance premium, and if the auction fails, it will charge 1% of the insurance value as the insurance premium. If the company arranges the delivery, the company will charge the seller extra money as delivery insurance, and the amount depends on the specific circumstances of each auction. If necessary, we will also suggest the introduction of carriers, but we will not bear any legal responsibility in this regard.
(three) the insurance of the auction object is still valid within seven days after the auction. If the auction item fails to be auctioned successfully, all risks after the expiration shall be borne by the seller.
(4) If the auction items are damaged due to wood borers or changes in air conditions, the Company shall bear legal responsibilities.
5b。 Car owners buy insurance.
If the seller explicitly instructs the company not to buy insurance for the auction, the risk will be borne by the seller until the buyer pays the money. The seller shall compensate the company, its employees and agents and the buyer (if applicable) for the claims arising from the auction, regardless of the reasons for the claims. The Seller shall also reimburse the expenses caused by such claims at the request of the Company, its employees and agents and the Buyer, even if the Company, its employees and agents and the Buyer are at fault and have not proved any legal liability. The seller shall notify the seller's insurance company of the terms of this clause.
6. The seller's commitment to the auction.
This clause stipulates the standards for the company to deal with auction items, and also regulates the relationship between buyers and sellers. If the benchmark is inaccurate in any respect, the company or the buyer may take legal action against the seller. The Company's handling of the auction items and the buyer's purchase of the auction items are based on the following commitments of the seller:
(1) The seller is the sole owner of the auction item, and has unlimited rights to transfer the ownership to the buyer, regardless of all third-party rights or claims (including copyright claims);
(b) The seller has complied with all laws or other regulations related to the import and export of auction items, and has informed the company in writing of any third party's failure to comply with such regulations in the past; and
(c) The seller has informed the company in writing of any major changes he knows about the owner of the auction item and any concerns expressed by the third party about the ownership, condition or ownership of the auction item.
If there are any inaccuracies in (a), (b) and (c) above, the seller shall guarantee to fully repay all claims, fees or expenses caused by the company and/or the buyer, regardless of the auction items or auction proceeds.
7. Auction arrangements
(1) The Company has the full right to decide the description and explanation of the items to be auctioned in the Catalogue, the appraisal opinions, the auction place and method, who to invite to bid and accept the bid price, whether to seek expert advice, whether to merge or auction the items separately.
(b) Any valuation, whether oral or written, is only an opinion, not a guarantee for the final auction price.
(c) Without the consent of the Company, the seller shall not withdraw the auction items. However, the company reserves the right to withdraw the owner of the auction at any time for the following reasons. These reasons are as follows: (i) The company has doubts about the definition or authenticity of the auction items or the accuracy of the statements mentioned in Article 6(a), (b) or (c) above; (2) Acts violating business rules. Or (ii) the Company considers it inappropriate to include the auction items.
(d) If the company or the seller withdraws the auction, the company may charge the seller a fee equivalent to 10% of the insured value, plus the commission for successful auction according to the insured value, and any applicable value-added tax, insurance premium and other fees.
8. Auction code
(1) Our company will auction the auction items with reference to the reserve price. The reserve price shall not be higher than the lower valuation limit listed in the Catalogue, unless the reserve price is agreed to be a currency other than Hong Kong dollars, and the reserve price is higher than the lower valuation limit due to exchange rate fluctuation between the agreed reserve price date and the successful auction date. In this case, unless otherwise agreed by the company, the reserve price shall be equivalent to the amount of Hong Kong dollars calculated at the closing exchange rate of the working day before the successful auction. If the bid price fails to reach the reserve price, the company will bear any responsibility under any circumstances. However, the company has the right to auction items below the reserve price. If we auction the auction items in this way, we will be responsible for paying the seller the difference between the transaction price and the reserve price.
(b) The seller shall not participate in the bidding of its auction items, nor shall he hire anyone to participate in the bidding on behalf of the seller, but the company has the right to participate in the bidding on behalf of the seller at a price not exceeding the reserve price.
9. After the auction is successful
wind up/settle/close an account
After the auction is successful, the company will ask the buyer to pay in full, including the remuneration payable by the buyer. After the buyer pays, unless we receive a notice that the auction item is a fake (as defined in Article 1 of the Commercial Rules), we will remit to the seller a sum equal to the transaction price minus all expenses payable by the seller 35 days after the successful auction. If the buyer delays payment, the company will remit money to the sub-seller within seven days after the buyer pays. If, for any reason, the company pays the sub-seller before the buyer pays, the company will obtain full ownership and ownership of the auction items. However, if the company is forced to take back the auction items from the buyer because the auction items are counterfeit, the seller shall return the auction proceeds collected to the company.
Unless otherwise instructed in writing by the seller, the company will pay in Hong Kong dollars. If the seller instructs the Company to pay in currencies other than Hong Kong dollars before the auction, the auction proceeds paid to the seller will be calculated according to the one-month futures exchange rate provided by the Hongkong and Shanghai Banking Corporation to the Company on the working day after the auction, and the voucher issued by the Company on this exchange rate shall prevail. If the seller instructs the company to pay in a currency other than Hong Kong dollars after the auction, the auction proceeds paid to the seller will be calculated according to the foreign currency quotation provided by Hongkong and Shanghai Banking Corporation on the date of payment, and the certificate issued by the company on this exchange rate shall prevail. The company will charge the seller any foreign exchange and bank charges.
The buyer does not pay.
If the buyer fails to pay all the due money within 35 days after the auction date, the company has the right to reach an agreement on the special terms of payment, storage and insurance on behalf of the seller, and take any measures that the company deems necessary to collect the due money from the buyer. However, the company is not responsible for remittance to the seller, nor does it take any legal action on behalf of the seller. The company will discuss with the seller to take appropriate actions to recover the auction amount from the buyer.
fake
If, within five years after the auction date, the buyer convinces us that the auction item is a fake (as defined in Article 1 of the Commercial Rules), then (if the buyer has paid all the payables, the company has the right to cancel the transaction, and/or (ii) if the company has paid all or part of the payables to the seller by then, the seller shall return all the payables to the company as required. In the latter case, the company will exercise the lien and keep any items belonging to the seller under the control of the company as refundable collateral.
(d) Auction items that failed to be auctioned successfully.
If any auction item fails to be auctioned successfully, or is not included in the auction, or the auction is withdrawn for any reason, the seller must take back the auction item within 35 days after the company sends a notice to the seller asking the seller to take back the auction item. If it is not collected for more than 35 days, the storage fee of 50 yuan will be charged for each item every day, and additional insurance premium will be charged. The seller must pay all unpaid fees to get back the auction. If these auction items are not collected within 60 days after the notice of collection is issued, they may be moved to the warehouse of a third party for safekeeping, and the expenses shall be borne by the seller. If no one picks up these auction items within 90 days after the auction date or the above notification date (whichever is earlier), the company may dispose of these auction items at its discretion. Disposal includes moving the auction items to a third-party warehouse at the expense of the seller, and publicly auctioning the auction items according to the terms that the company thinks fit (including the terms of estimated price and reserved price). Then the company will pay the auction proceeds to the seller after deducting all the arrears. If any auction item is recovered in the auction or fails to be auctioned successfully, our company is authorized to act as the exclusive agent of the seller within two months after the auction, and the net amount that the seller can collect (that is, the amount after deducting all the expenses payable by the seller) is not lower than the amount that the seller can obtain when the auction item is auctioned successfully at the reserved price or at a lower price agreed by our company and the seller separately. In this case, the seller's responsibility to the company for the auction item is the same as that when the auction item is successfully auctioned.
10. Pictures and charts
The company has non-exclusive rights to the pictures, recordings or reproduced images of the auction items. All the rights of these images belong to our company, and we have the right to use them in any way we think fit.
1 1. Other matters
(a) All payments payable by the tax seller to Christie's do not include any goods or services tax or other value-added tax (whether levied in Hong Kong or elsewhere). If these taxes are applicable, the seller shall be responsible for paying them according to the tax rate and time stipulated by relevant laws.
(b) If any electrical or mechanical parts are included in the auction, the seller shall be responsible for ensuring that these parts are in safe working condition. The Seller shall fully repay all claims, expenses or expenses caused by the Seller's violation of the above guarantees and guarantees.
buyer
12. Christie as the agent
As an auctioneer, our company acts as the seller's agent. Unless otherwise agreed, the contract between the buyer and the seller will be generated through the agent of the company for the items successfully auctioned in the auction of the company. 13. Before the auction
(a) Identification of articles
We strongly recommend that potential buyers personally identify the items they are interested in bidding before the auction. Our company usually provides evaluation opinions upon request. Except for the fake certificate (as defined in Article 1 of the Commercial Regulations), our company does not make any guarantee for the buyer.
(b) description of the catalogue
The description of the method of compiling the company catalogue is published before the catalogue. The company's statements on the author, origin, date, year, size, media, ownership, authenticity, source, preservation status or estimated selling price of any auction items in the Catalogue or Appraisal Opinions, or other oral or written statements in these aspects, are only opinions, and shall be subject to the true facts. The catalog icon is only used as a guide and should be used as the basis for determining the color or tone of any auction or revealing its defects. The estimation of auction price should not be based on the statement that the auction will be successfully auctioned or the value of the auction for other purposes. Many auctions are not in a perfect state because of their age or nature. Some descriptions or appraisal opinions in the catalogue will refer to the damage and/or repair information of the auction items. These materials are only used as a guide. If they are not mentioned, it does not mean that there are no defects or repairs in the auction. If specific defects are mentioned, it does not mean that there are no other defects.
(c) responsibilities of the buyer
It is the buyer's responsibility to know the condition of the goods and the main items mentioned in the catalogue description, and to ensure their satisfaction.
14. At the time of auction
(a) Rejection
The auction will be held in our venue, or in the venue where we control the auction. Our company has complete decision-making power and can exercise the right to refuse anyone to enter the auction site or participate in the auction.
(b) Registration before bidding
Each potential buyer must complete and sign the registration form and provide identification before bidding. Potential buyers should note that our company usually requires a credit review of buyers.
(c) The bidder is the buyer.
Unless there is a written agreement at the time of registration, the bidder will act as the agent of a third party and the third party is accepted by the company, otherwise the bidder will be regarded as the buyer and bear personal responsibility.
(4) Entrust bidding
If the potential buyer instructs us to bid on his behalf by using the printed form after the catalogue description, we will do our best to bid on his behalf, but the instructions to bid on his behalf must reach us at least 24 hours before the auction. All auctions will be settled in Hong Kong dollars. If bidding in foreign currency, the company will convert it into Hong Kong dollars at the exchange rate provided by Hongkong and Shanghai Banking Corporation at the end of the working day before the auction date. Foreign currency bidding will be converted into the nearest increment of Hong Kong dollar bidding. The buyer's invoice will be in Hong Kong dollars. If the buyer suffers any losses due to exchange rate changes after the auction, the company will not be responsible. If the company receives multiple bids with the same bid price for an auction item, and these bids are the highest bid price of the auction item at the time of auction, the auction item will be delivered to the owner of the company first by its bids. The commitment to entrust bidding is limited by other commitments made at auction, and the auction may make it impossible for the company to bid on its behalf. Since this commitment is a free service provided by our company to potential buyers according to the above terms, our company will not bear any legal responsibility if we fail to bid as entrusted. If potential buyers want to ensure the success of the auction, they should attend the auction in person.
Telephone bidding
If the potential buyer makes arrangements with us less than 24 hours before the auction, we will make appropriate efforts to contact the bidder so that he can participate in the auction by telephone, but in any case, if he fails to contact, we will not be responsible for the seller or any potential buyer.
(f) currency exchange display board
For the convenience of buyers, the company may use a currency exchange display board to display the amount after converting the buying price of Hong Kong dollars into the buying prices of various foreign currencies. These amounts are only approximate and do not represent the accurate exchange rate at any time. However, the auction will still be held in Hong Kong dollars. The currency exchange display board is not always reliable, and the accuracy of the auction figures or foreign exchange equivalent to the tender price of Hong Kong dollars displayed on the display board may be beyond our control. The company will not be responsible for any losses suffered by buyers because they rely on currency exchange panels (rather than bidding in Hong Kong dollars).
videotape
Some auctions have image projections, but the operation may be wrong. No matter whether the picture matches the auction products that have been successfully auctioned, or the quality of pirated pictures, the company is not responsible for the buyer.
(h) the decision-making power of the auctioneer
An auctioneer has the absolute right to reject any bid, push the bid in the way he decides, withdraw or batch any auction items, merge any two or more auctions, and auction the auction items again in case of errors or disputes.
(1) Winning the bid
At the decision of the auctioneer, the hammer will show that it accepts the highest bid, that is, the auction contract concluded between the buyer and the seller.
15. After the auction,
(a) remuneration paid by the buyer
In addition to paying the transaction price, the buyer shall also pay the company an appointment fee, which is 65,438+07.5% of the first transaction price of HK$ 600,000, plus 65,438+00% of the portion exceeding HK$ 600,000 in each auction.
taxation
All the money that the buyer should pay to Christie's does not include any goods or services tax or other value-added tax (whether levied in Hong Kong or elsewhere). O If such taxes are applicable, the buyer shall be responsible for paying them at the tax rate and time stipulated by relevant laws.
pay
After the auction is successful, the buyer must provide his name and permanent address to the company. If required, details of the paying bank should also be provided. Then, within seven days after the auction date, pay off the amount owed (including the transaction price, the remuneration paid by the buyer and any applicable value-added tax). This payment condition applies even if the buyer wants to export the auction items and needs (or may need) an export license. If the buyer fails to pay all the money owed to the company, he can't get the ownership of the auction, even if the company has delivered the auction to the buyer. If the money paid to Christie's is in a currency other than Hong Kong dollars, the company will charge the buyer any foreign exchange fees. This includes bank charges and currency exchange commissions. The exchange rate of currencies other than Hong Kong dollars of Christie's shall be subject to the exchange rate published by Hongkong and Shanghai Banking Corporation on the date of payment, and the certificate issued by our company on this exchange rate shall prevail.
(d) Receiving the purchased auction items.
Unless otherwise agreed by the company, the company will temporarily keep the auction items that have been successfully auctioned until the money owed to the company or Christie's International Limited or any other subsidiary has been paid in full. During the temporary storage period, the auction items will be insured by our company for seven days, counting from the date of successful auction. If the auction items have been collected before that, they will be insured until the time of collection. After the expiration of seven days or from the time of collection (whichever is earlier), all risks of the auction object shall be borne by the buyer.
Packaging and handling
When handling and packaging the purchased auction items, the company shall make all appropriate efforts to handle them carefully. However, the company would like to remind buyers that the risk of auction items will be borne by the buyers after the expiration of seven days or from the time of collection.
(f) Introducing shipping companies and transportation companies.
The freight department of our company can act as the agent of the buyer and arrange shipment on his behalf. Although we can introduce the carrier according to special requirements, we are not responsible for it.
(g) Remedies for non-payment or non-receipt of purchased auction items.
If the buyer fails to pay within seven days, the company has the right to exercise one or more of the following rights or remedies:
1. If the payment is not made for more than seven days after the auction date, the interest on the whole arrears will be charged at an annual rate not exceeding the basic interest rate of Hongkong and Shanghai Banking Corporation plus 4%.
1. The unpaid amount of the buyer will be used to offset the amount owed to the buyer by the Company or Christie's International Limited or any other subsidiary thereof in any other transaction.
1. After sending the unpaid debt notice to the buyer for 14 days, exercise the lien on any goods owned by the buyer and occupied by the company for any purpose, and arrange to sell the goods and use the proceeds to pay off the unpaid debts.
1. If the buyer owes several sums of money to the company or Christie's International Limited or any of its other subsidiaries due to several different transactions, the paid sum shall be used to pay off any sum owed to the owner for any particular transaction, regardless of whether the buyer instructs to pay off the sum.
1. In any future auction, reject the bid made by the buyer or others on its behalf, or collect the deposit from the buyer before accepting any bid.
1. If the buyer fails to pay within 35 days, the company has the right to:
Take legal proceedings against the buyer on behalf of the seller to recover all the money owed, together with the legal fees based on full compensation and the interest charged at the basic interest rate of Hongkong and Shanghai Banking Corporation plus the annual interest rate of 4%.
1. Cancel the transaction of auction items won by the buyer in the same auction or any other auction or any other auction items sold to the buyer.
1. Arrange public or private resale of auction items. If the resale price is low, the buyer is required to compensate for the difference and any expenses incurred by the buyer due to non-payment.
(h) Failure to receive the purchased auction.
If the purchased auction items are not collected within seven days after the auction is successful, regardless of whether they have been paid, the company will arrange for safekeeping, and the expenses will be borne by the buyer. Only after storage, handling, insurance and any other expenses and all other money owed to the company can the purchased auction items be recovered.
(1) Export license
Unless otherwise agreed by our company in writing, the fact that the buyer wants to apply for an export license does not affect the buyer's responsibility to pay within seven days, nor does it affect our company's main right to charge interest for delayed payment. If the buyer asks the company to apply for an export license on its behalf, the company has the right to recover the payment and incidental expenses related to this application and any related value-added tax. If the buyer pays regardless of the fact that an export license is needed, the company is not responsible for returning any interest or other expenses incurred by the buyer.
16. Legal liability of the company
Our company is responsible for returning the money to the buyer under the circumstances listed in 17. In addition, the seller or the company or any employee or agent of the company shall not be responsible for the statement of the author, source, date, year, attribution, authenticity or source of any auction, or any other interpretation error, or any fault or defect of any auction owner. The seller, our company, our employees or agents have not made any guarantee for any auction. This article does not include any warranty of any kind of owner.
17, fake refund
If the auction items confirmed by our company are counterfeit, the transaction will be cancelled and the paid money will be returned to the buyer. However, if: (a) the catalogue description or the notice on the auction site released on the auction day conforms to the opinions generally accepted by scholars or experts at that time, or clearly indicates that there is a conflict of opinions, or (b) the method of proving that the auction items are fakes is only a scientific procedure that has not been generally accepted before the publication of the catalogue, or a procedure that is still unreasonably expensive or actually or may cause damage to the auction items on the auction day, our company will not be responsible for returning any money in any case. In addition, the buyer can only get a refund if the following conditions are met:
(i) The buyer must notify the company in writing within five years from the auction date, stating that the buyer considers the auction items to be counterfeit:
(2) The buyer must return the auction items to our company within 14 days, and the conditions are the same as those on the auction day; and
(iii) After the auction object is returned, the buyer shall produce evidence as soon as possible, which is enough to make the company believe that the auction object is forged, and the buyer can transfer the good ownership of the auction object to the company without considering the claim of any third party. In any case, the company does not have to pay the buyer more than the amount paid by the buyer for the auction, and the buyer cannot claim interest. The benefits of this guarantee are non-transferable and completely belong to the buyer who receives the original invoice from the company when the auction is successful. Since the auction, the buyer must remain the owner of the auction and have not transferred any benefits of the auction to any third party. Our company has the right to determine that the auction items are not fakes according to any scientific procedure or other procedure, regardless of whether the procedure has been used or used on the auction date. This condition does not apply to coins, medals, jewelry and paintings. (d) Conditions applicable to the Buyer and the Seller
18. Copyright
The copyright of all images, charts and written materials related to the auction project always belongs to the company. Without the prior written consent of the company, the buyer or anyone may not use it. 19. Notice; pay attention to
All notices given in accordance with these business regulations shall be given in writing. If it is mailed, it shall be deemed as received by the addressee on the second working day after mailing; If the recipient is overseas, it is the fifth working day after posting.
20. Separability
If any part of these commercial terms is found to be invalid, illegal or unenforceable by any court, that part can be ignored, and other parts of these commercial terms shall remain valid and enforceable to the maximum extent permitted by law.
2 1. Law and jurisdiction
These business rules are governed by the laws of Hong Kong, and their interpretation and effectiveness are governed by the laws of Hong Kong. For the benefit of the Company, the Seller and the Buyer shall submit to the exclusive jurisdiction of the courts in Hong Kong.
Christie's Hong Kong Limited
Christie's Hong Kong Limited