If you are a successful Buyer of a Lot, you will also be required to pay where applicable: Sales Tax, import tax, customs duty and any local clearance fees applicable for your country e.g. (c) Should any provision of these Conditions of Business for Buyers (Online Only) be held unenforceable for any reason, the remaining provisions shall remain in full force and effect. connection with the sale of any Lot which is an Experience, without limiting the generality of the foregoing, no Sotheby's Party will be liable for any incidental, punitive, special, exemplary or consequential damages, including lost profits, loss of data or goodwill, service interruption, computer damage or system failure or the cost of substitute services arising out of or in connection with Purchaser's purchase of or participation in any Experience or otherwise arising out of or in connection with the fulfillment of a purchased Experience, whether based on warranty, contract, tort (including negligence), product liability or any other legal theory, and whether or not such person or entity has been informed of the possibility of such damage, even if a limited remedy set forth herein is found to have failed of its essential purpose. Please note that the ability to obtain an export licence or certificate does not ensure the ability to obtain an import licence or certificate in another country, and vice versa. Lots with this symbol indicate that parties with a direct or indirect interest in the lot may be bidding on the lot, including (i) the beneficiary of an estate selling the lot, or (ii) the joint owner of a lot. The purchaser’s inability to import any item into the US or any other country as a result of these or other restrictions shall not justify cancellation or rescission of the sale or any delay in payment. Sotheby’s may receive a fee for its own account from the agent arranging the dispatch. Ahead of the sale, the auction house highlighted one special … Please check with the specialist department if you are uncertain as to whether a Lot is subject to these import restrictions, or any other restrictions on importation or exportation. Without limiting the generality of the foregoing, Sotheby's expressly disclaims any implied representations or warranties of merchantability or fitness for a particular purpose, representations and warranties as to the condition, size, quality, rarity, importance, provenance, literature or historical relevance of an Experience, or as to the quality, accuracy, timeliness, non-infringing nature, completeness or reliability of any Online Sale Information which relates to an Experience, including any Experience Listing or other description of any Experience and any representations or warranties arising out of course of dealing or usage of trade. Having said that, it is important you appreciate that Lots can realize prices which are above or below the pre-sale estimates. 7.The term signed and/or dated and/or inscribed means that in our opinion the signature and/or date and/or inscription are from the hand of the artist. Each Experience is sold “AS IS” without any representations or warranties of any kind. Lots will close at the time stated at Lot level on the Online Only Platform unless a bid is placed within 1 minute of a Lot's scheduled end time. We make no representation or warranty as to the condition of any lot sold. FURTHER INFORMATION REGARDING SHIPPING, EXPORT OF PROPERTY AND RELATED MATTERS. Please read carefully the terms of the Conditions of Business for Buyers (Online Only) and the Authenticity Guarantee set out above, in particular Conditions 3 and 4 of the Conditions of Business for Buyers (Online Only). If the irrevocable bid is not secured until after the printing of the auction catalogue, a pre-lot announcement will be made indicating that there is an irrevocable bid on the lot. Many countries require a declaration of export for property leaving the country and/or an import declaration on entry of property into the country. All Lots are offered for sale in the condition which they are in at the time of sale in an Online Only Auction. The reserve is generally set at a percentage of the low estimate and will not exceed the low estimate for the lot. If Sotheby’s sells an item which subsequently is shown to be a “counterfeit”, subject to the terms below Sotheby’s will set aside the sale and refund to the Buyer the total amount paid by the Buyer to Sotheby’s for the item, in the currency of the original sale. S otheby’s Hong Kong presents upcoming auctions online at the end of this year, including sales of Southeast Asian art and Chinese works of art, plus exciting opportunities to bid on wine, watches, jewelry, and luxury handbags before the winter holidays. (f) Sotheby’s reserves the right to deactivate your Verified Account at any time prior to, during, or after an Online Only Auction. In an Online Only Auction conducted by Sotheby's in Hong Kong, the Buyer’s Premium rate is as follows: 25% of the Hammer Price up to and including HK$3,500,000, 20% of any amount in excess of HK$3,500,000 up to and including HK$31,000,000 and 13.9% of any amount in excess of HK$31,000,000. Hong Kong—Like almost everything else in 2020, the sale of two jewels expected to go for millions at Sotheby’s Magnificent Jewels sale in Hong Kong Wednesday didn’t go as planned. Dispatch will be arranged at the buyer’s expense. Competitive bidding can often escalate very quickly. Consequently, there may be a lack of consensus among laboratories as to whether gemstones have been treated, the extent of the treatment or the permanence of the treatment. alligator and crocodile) are not sold with the watches and are for display purposes only. In the event that you are the successful Bidder for a Lot in an Online Only Auction, you agree that these Conditions of Business for Buyers (Online Only) and the applicable Online Sale Information will constitute the contract which governs the relationship between Sotheby’s, Sellers and Bidders. With viewing beginning 31 March at the Hong Kong Convention & Exhibition Centre, these glittering treasures will be on full display in advance of the auction … The registration process requires you to enter your debit card or credit card information, your address and to confirm that you have read and accept our Conditions of Business for Buyers (Online Only), the Authenticity Guarantee and this Guide to Buying in an Online Only Auction. 4. Furthermore, in reference to watch bands, we do not guarantee the material of manufacture. As a Buyer, you acknowledge and agree that the Lot is at your risk if you choose to exercise any right you may have to cancel the contract for the purchase of the Lot (in accordance with the procedure set out at Condition 11 below) and that you should therefore ensure that you insure the Lot against loss or damage until it is returned to Sotheby’s. This deadline is met if you send back the Lot before the period of 14 calendar days has expired. Sotheby’s is entitled to deduct from the reimbursement the amount of any loss in value of the Lot which is caused as a result of unnecessary handling by you. (a) In order to bid in an Online Only Auction, you must have set up a Verified Account (in accordance with the procedures set out at 5(b) and 5(c) below). (a) As stated in Condition 8 above, you will be emailed the Buyer’s Shipping Quote upon request. The application that enables participation in an Online Only Auction via the Online Only Platform is optimized for broadband connectivity (DSL or cable modem). Jewelry Auctions. Sotheby's, upon request and for an administrative fee, may apply for a licence to export your lot(s) outside Hong Kong. (iv) Sotheby’s Authenticity Guarantee, as applicable to the item of Property (set out below). Prospective buyers are reminded that, unless the catalogue description specifically states that a stone is natural, we have assumed that some form of treatment may have been used and that such treatment may not be permanent. For example, such information may be excluded to accommodate a seller's request for confidentiality or because the identity of prior owners is unknown given the age of the work of art. Available reports from internationally recognized gemmological laboratories will be noted in the description of the item. BROWSE THE LOTS FOR SALE IN THE ONLINE ONLY AUCTION. IMPORTANT NOTICE. Sotheby's is not responsible for errors and omissions in any Online Sale Information which relates to an Experience, including any Experience Listing, or any supplemental material. Alternatively, the Online Consumer may use the model cancellation form set out below. in eCatalogue), Sotheby’s may request from prospective bidders to complete the pre-registration application form and to deliver to Sotheby’s a deposit of HK$5,000,000 or such other higher amount as may be determined by Sotheby’s (for any items of Chinese Works of Art, Fine Chinese Paintings, Fine Classical Chinese Paintings, Magnificent Jewels & Jadeite and Modern & Contemporary Art – Evening Sale) and of HK$2,000,000 or such other higher amount as may be determined by Sotheby’s (for any items in other categories), and any financial references, guarantees and/or such other security as Sotheby’s may require in its absolute discretion as security for the bid. Sotheby’s will not be liable for any errors or failure by Bidders to place bids using the Online Only Platform via the internet or a mobile device (except where any such error or failure is within Sotheby’s reasonable control) including, without limitation, errors or failures caused by: (i) any loss of connection between Bidders and the Online Only Platform; (ii) a breakdown or fault with the online bidding software or other technical services which relate to the Online Only Platform; and/or (iii) a breakdown or fault with any internet connection, computer, mobile device or system. If all lots in the catalogue are “Premium Lots”, a Special Notice will be included to this effect and this symbol will not be used. (b) Notices to Sotheby's should be in writing and addressed to the department in charge of the sale, quoting the reference number specified at the beginning of the sale catalogue. It sold at Christie’s in Hong Kong for than $2.5 million. (f) You shall send back the Lot or hand it over to us at such address as we may specify for the purpose, without undue delay and in any event no later than 14 calendar days from the day after which you communicate your cancellation of your purchase of the Lot to us. You may be able to find more information about this and similar content at piano.io, Tiffany Reveals a New Diamond for the Record Books, Diamond Ring Breaks Guinness World Record, A Brief History of the Pearl Engagement Ring, Christie's Will Auction 100+ Chanel Jewels, Lucrezia Buccellati on the Family Business, Ippolita Opens its First New Boutique in Chicago, Kate Middleton's Most Iconic Tiara Moments, What the Royals' Favorite Watches Say About Them. You accept and agree that a bid is submitted using the ‘Continue to Confirm Bid’ button and increased bids are submitted as set out in section 4 below. The auction house touted the gem’s natural dark hue. The rare rock – described as being "the size of a lollipop" will go under the hammer through auction house Sotheby's in Hong Kong on October 5, with online bidding open from September 15. The Online Sale Information includes the online catalogue description of the Lot; any online condition report provided in relation to the Lot by Sotheby's solely as a convenience (and the online images of the Lot shall be deemed to form part of any such condition report); any other information relating to the Lot or the conduct of the Online Only Auction which is published on the Online Only Platform (including this Guide to Buying in an Online Only Auction). (c) The Online Only Platform requires that you submit a bid which correlates to one of the increments set out in the bidding increment table which is available to view at Lot level. Terms defined in this Guide shall have the same meaning as in the Conditions of Business for Buyers (Online Only) unless the context otherwise requires. Sotheby’s shall not process the reimbursement unless and until the Lot is returned to Sotheby’s or you have supplied Sotheby’s with evidence of having returned the Lot to us. Competitive bidding can often escalate very quickly. Model form of cancellation – sale of goods/provision of services, To: Sotheby’s [insert the name of the company within the Sotheby’s Group and specified in the Online Sale Information]. Please note that this Guarantee does not apply if either:-, (i)  the catalogue description was in accordance with the generally accepted opinions of scholars and experts at the date of the sale, or the catalogue description indicated that there was a conflict of such opinions; or, (ii)  the only method of establishing at the date of the sale that the item was a counterfeit would have been by means of processes not then generally available or accepted, unreasonably expensive or impractical to use; or likely to have caused damage to the lot or likely (in Sotheby’s reasonable opinion) to have caused loss of value to the lot; or. While always a vibrant collecting centre, in recent years, Sotheby's Hong Kong has witnessed extraordinary … Please note that all electrical and mechanical goods are sold on the basis of their artistic and decorative value only, and should not be assumed to be operative. Geneva| Hong Kong | London | Milan | New York | Paris Explore Upcoming Auctions Past Auction. Auction house Sotheby’s is putting an extraordinary gem—a 102.39 ct. flawless oval white diamond—on the block, with bids starting virtually on Tuesday. Clients who wish to provide resale or exemption documentation for their purchases should contact Post Sale Services Department. Bids placed by Sotheby’s on behalf of the Seller, up to the amount of the Reserve, will be counted toward the total bid count displayed on the Online Only Platform. If any Lot is not subject to a Reserve, the ‘No Reserve’ symbol will be displayed against the Lot in the Online Sale Information. (d) The Buyer of a Lot is solely responsible for the payment of any sales tax or value added sales tax, sales or compensating use tax or any other similar tax payable as a result of the sale of a Lot. The amount of the Buyer’s Premium and Overhead Premium is set out in the Guide to Buying in an Online Only Auction set out above. In particular, Bidders’ attention is specifically drawn to Condition 4 below, which contains specific limitations and exclusions of the legal liability of Sotheby’s and Sellers. To be able to claim under this Guarantee, the Buyer must:-, (i)  notify Sotheby’s in writing within such 21 day period of the reasons for not believing the gemstones or pearls to be genuine or of natural origin, specifying the lot number, date of the auction at which it was purchased; and. Our presale estimates reflect this assumption. The extension of any Lot's closing time does not affect the closing time of the following Lots. In these Conditions of Business for Buyers (Online Only): "Additional Buyer's Expenses" are any other costs or expenses due to Sotheby's from the Buyer which are payable in respect of the sale of the Property; "Bidder" is any person considering, making or attempting to make a bid in an Online Only Auction and includes Buyers (also referred to as “you” in these Conditions of Business for Buyers (Online Only)); "Buyer" is the person who makes the highest bid for a Lot in an Online Only Auction via the Online Only Platform (also referred to as “you” in these Conditions of Business for Buyers (Online Only)); "Buyer's Premium" is the commission payable by the Buyer on the Hammer Price (at the rates set out in the Guide to Buying in an Online Only Auction set out above); “Buyer’s Shipping Costs” are any packing, handling and shipping costs and charges (including any costs covering transit insurance) payable by the Buyer to Sotheby’s for provision of delivery services of the purchased Lot to the Buyer; "Counterfeit" is as defined in Sotheby's Authenticity Guarantee (set out below); “Experience” is each activity experience included in the Online Only Auction; “Experience Listing” is the information on the Online Only Platform and in the online catalogue in relation to each Experience; "Hammer Price" is the highest bid accepted from a Bidder for a Lot during an Online Only Auction; “EU Consumer Rights Directive” is Directive 2011/83/EU of the European Parliament and the Council of 25 October 2011 on consumer rights; “Lot” is an item to be offered for sale at an Online Only Auction on the Online Only Platform (and “Lots” shall be construed accordingly); “Online Sale Cancellation Period” is the period of fourteen (14) days starting on the day after the Online Consumer (or a person, other than the carrier, identified by the Online Consumer) takes physical possession of the Lot; “Online Services Cancellation Period” is the period of fourteen (14) days starting from the day of conclusion of the contract which relates to provision of the delivery services by Sotheby’s in favour of the Online Consumer; “Online Consumer” is an individual located in the European Union who purchases a Lot and who is acting for purposes which are wholly or mainly outside that individual’s trade, business, craft or profession; “Online Only Auction” is the sale of a Lot which is conducted solely by means of the Online Only Platform provided by Sotheby’s and our partners; “Online Only Platform” is the online only sale platform and associated technical services provided by Sotheby’s and our partners which is accessible solely by online means and which enables Buyers to bid for and buy Lots in a time based auction; “Online Sale Information” is the Lot information including, but not limited to, any pre-sale estimates; any information regarding provenance; the online catalogue description of the Lot; any catalogue that may be available as a PDF on the Sotheby’s website in respect of the Online Only Auction,  any condition report provided by Sotheby’s in relation to the Lot (with any such condition report being deemed to include the online images of the Lot); any other information relating to the Lot or the conduct of the Online Only Auction published on the Online Only Platform (including, but not limited to, the Guide to Buying in an Online Only Auction set out above); any on-screen notices relating to the Online Auction; “Online Trader” is a person who is the Seller of a Lot and is acting for purposes relating to that person’s trade, business, craft or profession; "Overhead Premium" is the allocation of Sotheby’s overhead costs relating to Sotheby’s facilities, property handling and other administrative expenses that is payable by the Buyer on the Hammer Price the Guide to Buying in an Online Only Auction set out above; "Purchase Price" is the Hammer Price, applicable Buyer's Premium and applicable Overhead Premium; "Reserve" is the confidential minimum price which the Seller has agreed to accept for a Lot below which the Lot cannot be sold; "Seller" is the person offering a Lot for sale (including their agent (other than Sotheby's), executors or personal representatives); "Sotheby's" means Sotheby's Hong Kong Ltd., which has its registered office at Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong; "Sotheby's Company" means both Sotheby's in the USA and any of its subsidiaries (including Sotheby's in London) and Sotheby’s Diamonds SA and its subsidiaries (in each case “subsidiary” having the meaning of Section 2 of the Companies Ordinance (Cap. 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