Asian Art - Part II

1. Sales are conducted by auction according to Belgian law.
2. The buyer is due to provide the auctioneer with payment no later than the fifth working day after the last auction day. According the Anti-Money Laundering Act (Art. 10.3), amounts higher than € 3.000 can only be paid by cheque, credit card or bank transfer to the auctioneer's bank account.
3. Premium: 25%?
4. Goods are sold 'as is' at the moment of the adjudication.?
5. All statements made by the auctioneer, be it in writing or in oral form, are not to be relied on as statements of fact. They are to be considered only as an opinion, given according to the best of the auctioneer's knowledge and are for guidance only. The buyer is due to verify the condition of the good(s) by personal inspection. On request, every opportunity will be provided to the potential buyer to conduct additional expertise examination as long as the good(s) will not suffer damage. As a result, no complaint will be accepted after the adjudication.?
6. After adjudication, the buyer is responsible for his/her purchases. Good(s) cannot be collected during the auction.
7. All buyers are due to provide identification before participation in the bidding.?
8. Each person is assumed to buy on his/her own account. In default of payment, liability to another person will not be accepted.?
9. Any dispute occurred during the auction can only be resolved by the acting bailiff/notary. His/her decision is definite and irrevocable.
10. According to the international rules on copyright, the law obliges us to require an extra premium on the hammer price of original art works made by a living artist or within seventy years after his/her decease. This premium is not required on a hammer price lower than € 2.000. Starting from € 2.000, the amount is specified as follows:
4% on the hammer price from € 0,01 up to € 50.000
?3% on the hammer price from € 50.000,01 up to € 200.000
?1% on the hammer price from € 200.000,01 up to € 350.000
?0.5% on the hammer price from € 350.000,01 up to € 500.000
?0.25% on the hammer price higher than € 500.000
The maximum amount of the extra premium should not exceed € 12.500.?

11. Collecting of purchases is only possible if the auctioneer has received full payment, be it in cash, by credit card or by bank transfer to his bank account. Collecting dates are described in detail in the catalogue and on the website.?
12. Both Belgian and foreign buyers who cannot attend the auction in person or cannot be represented by an agent can arrange with the auctioneer to:
a. Participate in the bidding by an absentee (written) bid. Any written bids may be:
-given to the staff
-sent by email
-sent by fax
In the event of identical written bids, the earliest bid received will take priority.
In the event of identical bids with floor bids in the sales room, the floor bid will take priority.
b. Participate in the bidding by telephone. Bidding by telephone will only be accepted for good(s) valued by the auctioneer at a low estimate of minimum € 500. The auctioneer will not accept liability for any consequences resulted from technical problems related to the telephone call.
c. Online live bidding. In this event, the premium will be 28% (instead of 25%) as the auctioneer is due to pay a 3% commission fee to his online partners Invaluable Live! And Epailive.

First-time foreign buyers are due to register on the website or via email no later than 48 hours before the start of the first auction day. Registration should include: name, address, a copy of the passport and valid contact information. Foreign buyers unknown to the auctioneer are obliged to make a deposit via bank transfer to the auctioneer's bank account. The amount of the deposit depends on the value of the item(s) of interest. The deposit will also figure as a pledge in case of default bidding (see Art. 14).
13. Dealers are required to disclose their status and to give their coordinates upon receipt of their buyer number.
14. In default bidding (irresponsible bid), the item(s) will be resold at a later auction. According to Belgian law, the default buyer will be held responsible for the negative difference plus all expenses related to the default sale. If the good(s) achieve(s) a higher amount than the original hammer price, he/she will not have any rights to claim the positive difference but will be held responsible for the negative costs.
15. By his/her bid, the buyer accepts the above conditions of sale without any reserve.
16. Any dispute arising out of sales shall be adjudicated by Belgian law.

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