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ONLINE ONLY AUCTION – SALE 11209

April 23-May 5



CONDITIONS OF SALE AND TERMS OF USE

These Conditions of Sale and Terms of Use and the Important Notices and Explanation of Cataloguing Practice contain all the terms on which Christie’s Inc. with principal address at 20 Rockefeller Plaza, New York, NY 10020 (“Christie’s”) and the seller (also referred to as the “seller”) (together, Christie’s and the seller referred to as “we,” “us,” “our,” and “ourselves”) contract with you (also referred to as the “buyer,” “you,” “your,” and “yourself”). If there are any amendments to these Conditions of Sale and Terms of Use and the Important Notices and Explanation of Cataloguing Practice, you will find such amendments at http://onlineonly.christies.com during the sale and such amendments will supersede terms and conditions provided herein. By registering to bid at auction you agree to be bound by and accept these Conditions of Sale and Terms of Use and the Important Notices and Explanation of Cataloguing Practice.

Please read the Conditions of Sale and Terms of Use and Important Notices and Explanation of Cataloguing Practice carefully prior to registering. If you have any questions, please email warhol@christies.com or call (212) 636-2002.

1. CHRISTIE’S AS AGENT
Except as otherwise stated, Christie’s acts as agent for the seller. The contract for the sale of the property is therefore made between the seller and the buyer.

2. BIDDER REGISTRATION

(a) Registration: In order to be able to bid at the online-only auction you must first create a MyChristie’s account online and subsequently register for the sale at http://onlineonly.christies.com. If you have an existing MyChristie’s account, you can sign into the online-only auction with your existing username and password and then subsequently register for the auction (if you have multiple accounts, you will need to select the account under which you wish to transact). If you have not previously bid or consigned with MyChristie’s and, therefore, do not already have a MyChristie’s account, you will need to first create a MyChristie’s account following the instructions provided at http://onlineonly.christies.com and providing any required information and/or completing any necessary forms. Registration for the sale can be completed beginning on Thursday, April 23rd, 2015 at 12:00 pm (EDT) when the sale starts and ending on Tuesday, May 5th, 2015 with the first lot closing at 12:00 pm (EDT) until the closing of the last lot of the sale at a time to be determined.

(b) Registering as principal / on behalf of an entity:

When registering to bid whether as an individual or on behalf of an entity, you accept that in making a bid, you are accepting personal liability to pay the purchase price, including the final bid price (the “hammer price”) for each lot together with the buyer’s premium, plus any applicable value added, sales or compensating use tax or equivalent tax, any and all shipping expenses, including costs, packing and handling, any loss damage liability fees, and all other applicable charges, unless it has been explicitly agreed in writing with Christie’s before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to Christie’s and Christie’s and the seller will only look to the principal for payment.

If you are bidding on behalf of an entity and the entity already has a MyChristie’s account, the entity’s name will need to be entered as part of the sale registration process. If your entity does not already have a MyChristie’s account, you cannot register online at http://onlineonly.christies.com. Please contact Christie’s Client Service Center at (212) 636-2002. In either situation, Christie’s may require your entity to provide certain documents or meet certain qualifications as set forth below.

As a successful bidder, if you registered as an entity bidder, your entity will need to pay for any purchases via a credit card issued to the entity’s account and not a personal account. Company bidders claiming exemption from sales tax must indicate this by ticking the Sales Tax Exemption box at the time of registration and have the appropriate documentation on file with Christie's prior to check-out to avoid being charged. Please contact Client Services at 212-636-2002 or warhol@christies.com to confirm valid documentation.

(c) Requirements and Bidding Limits: In order to register to bid, you are required to supply the information requested, including valid credit card information. If you are bidding on behalf of an entity, you should provide information for the credit card issued to the entity’s account.

Each bidder is subject to an aggregate bidding limit in the amount of USD 300,000 for this particular online auction only. This aggregate limit shall apply to all items bid upon in the aggregate, and shall not apply on a per lot basis. The bidding limit is based upon the maximum bid you enter as opposed to the actual bid amount accepted at that time. Christie’s, in its sole discretion, may lower or rescind this limit, and has the ability to contact you to request the production of documents or information in relation to such limit. A maximum bid on a lot is deducted against the aggregate bidding limit and the bidding limit will not be reset until that lot closes. If you should reach the aggregate bidding limit based on the bids you place (whether maximum bids or actual bid amounts), you will not be able to place any further bids on those items or any additional bids on other items. You may adjust (i.e. remove, lower or increase) a maximum bid on a lot as long as the bids accepted on such lot have not met or exceeded the maximum bid amount. If you have a question regarding your bidding limit, please contact Christie's Credit department at 212-636-2002.

Christie’s may also require the production of bank or other financial references or that you meet certain qualifications. Christie’s may require deposits of a portion of a placed bid to be made to Christie’s. In such event, should you not be the successful bidder, your deposit shall be promptly returned to you. If you are the successful bidder, any such deposit shall be used to offset the appropriate portion of the purchase price.

If this is your first time registering to bid at a Christie’s sale (live or online), you will need to create a MyChristie’s account before registering to bid at http://onlineonly.christies.com. Christie’s may require you, or, if you are registering to bid on behalf of an entity in accordance with paragraph 2(b), your entity, to provide the following types of information and/or documentation, if applicable: Confirmation of registration (including, but not limited to, a Certificate of Incorporation or Certificate of Formation or Certificate of Good Standing); Confirmation of beneficial ownership (e.g., schedule of shareholders, articles of organization or operating agreement); Confirmation of registered address (e.g., utility bill, bank statement or recent postal envelope, if the registered address is not listed on the entity’s documents); and valid, government-issued photo ID for account owner (driver's license, passport or national identity card). Christie’s Client Services will contact you.

(d) Refusal of Registration: Christie’s reserves the right, at our complete discretion, to refuse your registration or participation in the auction, revoke your permission to participate and/or refuse to award you lots at any time prior to, during or even after the close of the sale.

4. BEFORE THE SALE

(a) Examination of property: Prospective buyers are strongly advised to examine personally any lot in which they are interested, before the auction takes place. Viewing is by appointment only at an off-site Christie’s facility. Appointments must be scheduled 24 hours in advance. To arrange an appointment, please contact warhol@christies.com or call (212) 707-5914. Condition reports are usually available online. Neither Christie’s nor the seller provides any guarantee in relation to the nature of the property. The property is sold “as is.”

(b) Lot descriptions: Our cataloguing practice for lots is explained in the Important Notices and Explanation of Cataloguing Practice located below. All statements by Christie’s or the seller in the online description of any lot (the “lot description”), in the condition report, or made orally or in writing elsewhere, are statements of opinion and are not to be relied on as statements of fact. Such statements do not constitute a representation, warranty or assumption of liability by us of any kind. The contents of any lot description are subject to change and should not be relied upon as definitively representing the lot. References in the lot description or any supplementary material to damage or restoration are for guidance only and should be evaluated by personal inspection by the bidder or a knowledgeable representative. The absence of such a reference does not imply that an item is free from defects or restoration, nor does a reference to particular defects imply the absence of any others. Neither Christie’s nor the seller is responsible for errors or omissions in the lot description or any supplemental material, including but not limited to photographs.

(c) Estimates: The lot descriptions include estimates that take into account prices recently paid at auction for comparable property, condition, rarity, quality and provenance (history of previous ownership). Estimates are subject to revision. Estimates of the selling price should not be relied on as a statement that this is the price at which the item will sell or its value for any other purpose. Estimates do not include the buyer’s premium, sales tax or any shipping or other charges including the costs of import or export licenses.

(d) Buyer’s responsibility: All property is sold “as is” without any representation or warranty of any kind by Christie’s or the seller. Buyers are responsible for satisfying themselves concerning the condition of the property and the matters referred to in the lot description. If you are considering bidding on a lot you should examine it in person - see 3(a) above. You are also responsible for making yourself aware of any amendments to these terms and conditions during the sale, which will be available at http://onlineonly.christies.com.

5. AT THE SALE

(a) Logistics: The application that enables online bidding is optimized for broadband connectivity (DSL or cable modem). Please note that corporate firewalls may create difficulties for some users. Errors may occur in the operation and quality of digital images. Neither Christie’s nor the seller accepts liability for such difficulties or errors.

(b) Refusal of bidding: Christie’s reserves the right, in our absolute discretion, to reject, to revoke or to refuse to honor any bid (even those that have been previously accepted) and, at anytime whether during or after the sale has closed, to restart or to continue the bidding. Christie’s also reserves the right to disable or deactivate your account at any time during the sale.

(c) Bidding as principal: When making a bid, a bidder is accepting personal liability to pay the purchase price, which includes the hammer price for each lot, together with the buyer’s premium, plus any applicable value added, sales or compensating use tax or equivalent tax, any and all shipping expenses, including costs, packing and handling, any loss damage liability fees, and all other applicable charges, unless it has been explicitly agreed in writing with Christie’s before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to Christie’s and Christie’s and the seller will only look to the principal for payment.

(d) Online bidding process: An online-only auction is, by its nature, fast-moving. Competitive bidding can often progress very quickly. As soon as you place and confirm your bid amount, the bid is submitted (subject to the aggregate bidding limit set forth in paragraph 3(c)). You acknowledge that this is necessary in order to ensure that online bids are submitted and received as promptly as bids from other bidders. You accept and agree that bids submitted in this way are final and that you may not, under any circumstances, amend or retract your bid. Neither Christie’s nor the seller is responsible for your errors in bidding.

Once you have made a bid the next bidding increment is shown for your convenience on your “Next Bid” button.

Bidding opens at a specified bid amount and advances in increments of up to 10%, subject to our discretion. Bidding increments:

$50 to $1,000

by $50s

$1,000 to $2,000

by $100s

$2,000 to $3,000

by $200s

$3,000 to $5,000
(ie: $4,200,4,500,4,800)

by $200, 500, 800

$5,000 to $10,000

by $500s

$10,000 to $20,000

by $1,000s

$20,000 to $30,000

by $2,000s

$30,000 to $50,000
(ie: $32,000, 35,000, 38,000)

by $2,000, 5,000, 8,000

$50,000 to $100,000

by $5,000s

$100,000 to $200,000

by $10,000s

$200,000 to $300,000

By $20,000s

$300,000 to $500,000

(ie: $320,000, 350,000, 380,000)

By $20,000, 50,000 and 80,000

$500,000 to $1,000,000

by $50,000s

Christie’s may vary the increments during the course of the auction at Christie’s discretion.

(e) Reserves: Unless otherwise indicated, all lots are offered subject to a reserve, which is the confidential minimum price the seller will accept below which the lot will not be sold. The reserve will not exceed the low pre-sale estimate printed in the lot description. If any lot is not subject to a reserve, it will be identified in the lot description. Under no circumstances will the system place any bid on behalf of the seller at or above the reserve.

(f) The record of sale: The record of sale will be taken as absolute and final in all disputes. In the event of a discrepancy between Christie’s and any online records or messages provided to you and the record of sale, the record of sale will govern.

(g) Withdrawal of a lot: We reserve the right, at our complete discretion, to withdraw any lot from the sale, prior to the lot’s closing, and shall have no liability whatsoever with regard to such withdrawal.

(h) Employee bidding: Please note that employees of Christie's may be bidding in this auction.

(i) Closing of bidding: Bids may be submitted beginning on Thursday, April 23rd, 2015 from 12:00 pm (EDT) when the sale starts at any time until the sale closes on Tuesday, May 5th, 2015 with the first lot closing at 12:00 pm (EDT) until the closing of the last lot of the sale at a time to be determined. Lots will close in one minute increments unless a bid is placed within the last minute of the designated closing time of a lot. If a bid is placed within the final three minutes, three additional minutes will be added to the designated closing time for that lot. The extension of any one lot’s closing time does not affect any other lot’s closing time; therefore, it is possible that lots will close out of numerical lot order.

6. AFTER THE SALE

(a) Successful bids: Unless Christie’s decides to use its discretion as set out in paragraph 4(b) above, the highest bid when the lot closes will be the successful bidder. This means a contract for sale has been formed between the seller and the successful bidder. Winning bidders will receive an email notification of any successful bid. Bidders are also requested to log in as soon as possible after the sale to obtain details of the outcome of any successful bid by checking the “Your Bids” tab of “Your Account” of the online-only auction. Neither Christie’s nor the seller accepts responsibility for notifying you of the result of your bids.

(b) Buyer’s premium: In addition to the hammer price for each lot, the buyer agrees to pay to Christie’s the buyer’s premium, plus any applicable value added, sales or compensating use tax or equivalent tax, any and all shipping expenses, including costs, packing and handling, any loss damage liability fees, and all other applicable charges. The buyer’s premium is 25% of the hammer price of each lot up to and including $100,000, 20% of the excess of the hammer price above $100,001 and up to and including $2,000,000, and 12% of the excess of the hammer price above $2,000,001.

(c) Payment deadline and passing of title: You must pay the full amount due (comprising the hammer price, buyer’s premium, any applicable value added, sales or compensating use tax or equivalent tax, any and all shipping expenses, including costs, packing and handling, any loss damage liability fees, and all other applicable charges) in full, cleared funds no later than 11:59 pm (EDT) on May 7th, 2015. This applies even if you wish to export the lot and an export license is, or may be, required. You will not acquire title and own the lot until all amounts due to Christie’s and the seller have been received by Christie’s in full, cleared funds even in circumstances where Christie’s has released the lot to you.

(d) Payment method: You must pay for any lot bought via the online-only auction by credit card. Christie’s will only accept credit cards with a MasterCard, Visa, Discover (including Diners Club International and JCB), American Express or China Union Pay (if the China Union Pay credit card has a Visa or MasterCard logo) logo. Other methods of payment will not be accepted. Christie’s will only accept payment from the registered bidder – individual or entity. If you registered and bid as an entity in accordance with paragraph 2(b), your entity will need to pay for any purchases via a credit card issued to the entity’s account. Partial payment of a lot, or payment across multiple credit cards for a single lot, will not be allowed. If you purchase multiple lots, you may purchase one lot with one credit card and another lot with a different credit card but you will need to go through two separate check-outs. If you are the winning bidder of any lot, in order to pay for your lot, you will need to log onto your account and check out your basket on the “Your Account” tab. You will need to enter your credit card information on check-out. The credit card you provide will be charged in U.S. dollars. For non-U.S. buyers, the actual amount to be paid in your home currency will be determined by the exchange rate used by your credit card company when you are actually charged. If you have any questions with regard to payment, please contact Christie's Client Services at Warhol@christies.com or (212) 636-2002.

(e) Sales or use tax: In addition to the hammer price and buyer’s premium (as well as any and all shipping expenses, any loss damage liability fees and all other applicable charges), New York sales tax or value added, sales or compensating use tax or equivalent tax of any applicable jurisdiction (including but not limited to deliveries in California, Florida, Illinois, Massachusetts, New York, Pennsylvania, Rhode Island or Texas) will be collected, as applicable, before the lot may be released. It is the buyer’s responsibility to ascertain and pay all taxes due. Company bidders claiming exemption from sales tax must indicate this by ticking the Sales Tax Exemption box at the time of registration and have the appropriate documentation on file with Christie's prior to check-out to avoid being charged.

(f) International duties: For international buyers, we offer the convenience of the service provided by Borderlinx (see paragraph 12)..

(g) Retention of sold property from buyer: Christie’s shall be entitled to retain any items sold until all amounts due from the buyer to Christie’s, or to Christie’s International plc, or to any of its affiliates, subsidiaries or parent companies worldwide, have been received in full, cleared funds from the buyer or until the buyer has satisfied such other terms as Christie’s, in our complete discretion, shall require, including, for the avoidance of doubt, completing any anti-money laundering or anti-terrorism financing checks we may require to our satisfaction. If such amounts are not paid or such checks are not satisfied by the buyer to our satisfaction, Christie’s shall be entitled to cancel the sale and to take any other actions that are required or permitted under applicable law.

(h) Storage and shipment and/or collection of your purchased lots: Subject to 5(g) above, unless otherwise directed by you, and provided that your purchased lots are paid for in full, cleared funds by the payment deadline of no later than 11:59 pm (EDT) on May 7th 2015, Christie’s will store your lots free of charge until the relevant deadline for shipment or collection, at which time purchases will be shipped to you at your expense and pursuant to the instructions you provided at time of payment or must be collected. Payment for your purchase, including any applicable charges for shipping, and a provision of your final shipping destination, must be returned to Christie’s by the payment deadline to qualify for this extended free-of-charge storage. If shipping and/or collection arrangements have not been confirmed for any items sold or such items have not been paid for in full, cleared funds by 11:59 pm (EDT) on May 7th, 2015, administration and handling fees may be charged at Christie’s full discretion.

If you wish to have your purchases shipped either domestically or internationally, you must indicate that at the time of check-out. If such shipments can be facilitated, purchases will be shipped to the address you provide at check-out. The buyer must ensure that a valid delivery address is provided. P.O. boxes are not acceptable for delivery addresses. The buyer is responsible for paying any shipping charges if property is returned to the seller/Christie’s due to the recipient’s failure to provide a valid delivery address or the lack of a recipient to sign and accept delivery where necessary. Please note that

In addition to the hammer price, buyer’s premium and any applicable valued added, sales or compensating use tax or equivalent tax, you will be responsible for any and all shipping expenses, including costs, packing and handling and any loss damage liability fees, as well as other applicable charges. Christie’s will provide loss damage liability for purchased lots when arrangements are made for such lots to be shipped to you at a rate of 1% (one percent) of the total purchase price. This will be charged at check-out and will cover loss, theft, damage or breakage. Although Christie’s shall use reasonable efforts to take care when handling, packing and facilitating any shipment of a purchased lot, neither Christie's nor the seller is responsible for any acts or omissions of any third party retained for these purposes, including, without limitation, any packing, shipping or delivery of purchased lots. Similarly, where Christie’s may suggest other handlers, packers or carriers if so requested, neither Christie’s nor the seller accepts responsibility or liability for their acts or omissions.

For international shipment (e.g. non-continental U.S. and non-U.S. shipping address), buyers should take into account customs and duties clearance time when making purchases. As such procedures vary by country, Christie’s recommends that purchases be completed as soon as possible.

If you wish to collect your purchase from Christie’s New York, you should indicate this by ticking the collection option under Shipping Address when registering for the sale or checking out. You may collect from 20 Rockefeller Plaza, New York, NY 10020. Our hours of operation are Monday through Friday, 9:30 a.m. to 5:00 p.m. ET. You should email Christie’s Client Service Center at warhol@christies.com to schedule collection at least 24 hours in advance and to secure any relevant forms. Payment must be made online prior to collection. You must collect purchases within two weeks after sale close or Christie’s will ship them to you at your expense.

Should you send someone to collect your purchase(s) on your behalf, please complete a Letter of Authorization and send it to us at warhol@christies.com prior to collection. Your representative must present a valid picture ID at the time of collection, such as a driver’s license or passport.

(i) Import/export licenses or other permits: Unless otherwise agreed by Christie’s in writing, the fact that the buyer wishes to apply for an import and/or export license or some other permit and/or license for shipment does not affect his or her obligation to make payment on the payment due date nor Christie’s right to charge interest or storage charges on late payment. A delay in obtaining (or a failure to obtain) required permits or licenses shall not justify a rescission of any sale nor a delay in making payment in full, cleared funds for the lot, and Christie’s shall not be obligated to refund any interest or other expenses incurred by the buyer. Local laws may prohibit the import of some property and/or may prohibit the resale of some property in the country of importation. No such restriction shall justify the rescission of any sale or delay in making payment in full, cleared funds for the lot.

(j) Remedies for non-payment: If the buyer fails to make payment in full, cleared funds by the payment due date required by paragraph 5(c), Christie’s will be entitled in Christie’s absolute discretion to exercise one or more of the following rights or remedies (in addition to asserting any other rights or remedies available to Christie’s by law):

(i) to charge interest at such rate as Christie’s shall reasonably decide;

(ii) to hold the defaulting buyer liable for the total amount due and to commence legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law;

(iii) to cancel the sale;

(iv) to resell the property publicly or privately on such terms as Christie’s and the seller shall think fit, and the buyer shall be liable for payment of any deficiency between the total amount originally due to us and the price obtained upon resale as well as for all costs, expenses, damages, legal fees and commissions and premiums of whatever kind associated with both sales or otherwise arising from the default;

(v) to pay to the seller an amount up to the net proceeds payable in respect of the amount bid by the defaulting buyer;

(vi) to set off against any amounts which Christie’s, or Christie’s International plc, or any of its affiliates, subsidiaries or parent companies worldwide, may owe to the buyer in any other transactions, the outstanding amount remaining unpaid by the buyer;

(vii) to reject at any future auction any bids made by or on behalf of the buyer or to obtain a deposit from the buyer before accepting any bids;

(viii) to exercise all the rights and remedies of a person holding security over any property in Christie’s possession owned by the buyer, whether by way of pledge, security interest or in any other way, to the fullest extent permitted by the law of the place where such property is located. The buyer will be deemed to have granted such security to Christie’s and Christie’s may retain such property as collateral security for such buyer's obligations to Christie’s; and/or

(viii) to take such other action as Christie’s deems necessary or appropriate.

(k) Failure to provide shipping arrangements for your purchases: Where shipping or delivery arrangements have not been provided within seven (7) days of the relevant payment deadline, whether or not payment has been made, Christie’s shall be permitted to remove the property to a third party warehouse at the buyer’s expense, and only release the items after payment in full, cleared funds has been made of removal, storage, handling, administration, physical loss/damage liability and any other costs incurred, together with payment of all other amounts due to us.

7. EXTENT OF CHRISTIE’S LIABILITY

(a) Internet Services: Christie’s offers internet services as a convenience to Christie’s clients, but neither Christie’s nor the seller will be responsible to you for errors during or after the sale or failures to execute bids placed on the internet or on your mobile device, including, without limitation, errors or failures caused by: (i) any loss of connection to the online-only auction; (ii) a breakdown or problems with the online bidding software or the web site service provider; and/or (iii) a breakdown or problems with any internet connection, computer, mobile device or system. Execution of online and mobile internet bids is a free service and neither Christie’s nor the seller accepts liability for failing to access the bidding site or to execute an online or mobile internet bid or for errors or omissions in connection with this activity. In addition, condition reports and currency converter are free services and neither Christie’s nor the seller is responsible to you for any error or breakdown in these services.

(b) Extent of Liability:

(i) Neither the seller nor Christie’s, nor any of their 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, nor Christie’s, nor any of their 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, value, 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;

(ii) Neither the seller nor Christie’s, nor any of their officers, employees or agents, is responsible for any loss caused by or resulting from confiscation of a shipment of purchased property to any state or foreign country or risks of restricted transportation by government or public authority;

(iii) In addition to the other rights of cancellation contained in this agreement, Christie’s can cancel a sale of a lot if Christie’s reasonably believes that completing the transaction is or may be unlawful or that the sale places Christie’s or the seller under any liability to anyone else or may damage Christie’s or the seller’s reputation; and

(iv) Translations of certain documents relating to the sale, including but not limited to lot descriptions and these Conditions of Sale and Terms of Use and the Important Notices and Explanation of Cataloguing Practice, may be provided as a convenience to Christie’s clients. Neither Christie’s nor the seller makes any representation as to the accuracy of such translations and will not be held responsible for errors in bidding arising from inaccuracies in translation.

(c) Right to cancel

i) If you are a consumer resident in the European Union you have the right to cancel the contract for the purchase of a lot within 14 calendar days without giving any reason.

ii) The cancellation period will expire after 14 calendar days from the day on which you acquire, or a third party other than the carrier and indicated by you acquires, physical possession of the lot

iii) To exercise the right to cancel, you must inform us of your decision to cancel this contract by a clear statement (e.g. a letter sent by post, fax or e-mail). You may use the model cancellation form set out below, but it is not obligatory. To meet the cancellation deadline, it is sufficient for you to send your communication concerning your exercise of the right to cancel before the cancellation period has expired.

iv) Effects of cancellation

If you cancel the contract, we will reimburse to you all payments received from you, including the costs of delivery but not: the supplementary costs arising if you chose a type of delivery other than the least expensive type of standard delivery offered by us; or any import duties we incur as a result of you returning the lot to us.

We may make a deduction from the reimbursement for loss in value of any goods supplied, if the loss is the result of unnecessary handling by you. We will make the reimbursement without undue delay, and not later than

(aa) 14 calendar days after the day we receive back from you any goods supplied, or

(bb) (if earlier) 14 calendar days after the day you provide evidence that you have returned the goods.

v) We will make the reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise; in any event, you will not incur any fees as a result of the reimbursement. We may withhold reimbursement until we have received the goods back or you have supplied evidence of having sent back the goods, whichever is earliest.

vi) 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 not later than 14 calendar days from the day after on which you communicate your cancellation from this agreement to us. The deadline is met if you send back the lot before the period of 14 calendar days has expired. You will have to bear the direct costs of returning the Property. If we arranged for the lot to be delivered we estimate that the cost returning the lot by the same means is likely to be similar to the cost of delivery, but it is not possible for us to more accurate as to this cost due to the many variables involved in our worldwide business model and the means by which a return might be made. You are only liable for any diminished value of the lot resulting from the handling other than what is necessary to establish the nature, characteristics and functioning of the lot.

Model form of cancellation

To: Christie's Inc. 20 Rockefeller Plaza, New York, NY 10020 [insert contact details fax, email etc.]:

I/We [*] hereby give notice that I/We [*] cancel my/our [*] contract of sale of the following goods [*],

Ordered on [*]/received on [*],

Name of consumer(s),

Address of consumer(s),

Signature of consumer(s) (only if this form is notified on paper),

Date

[*] Delete as appropriate

8. COPYRIGHT

(a) The copyright in all images, illustrations and written material produced by or for Christie’s or the seller relating to a lot, including but not limited to the lot description, is and shall remain at all times the property of Christie’s or The Andy Warhol Foundation for the Visual Arts, as applicable, and shall not be used by the buyer, nor by anyone else, without the prior written consent of Christie’s or The Andy Warhol Foundation, as applicable. Please note: The purchase of any lot does not entitle the buyer to any right to reproduce or copy the lot, nor does such buyer acquire any copyright or other intellectual property rights of any kind in or to such lot, nor shall any buyer acquire any rights to use any of Andy Warhol’s name or likeness or the name or likeness of any person depicted in the lot or the name or trademark or any other rights of The Andy Warhol Foundation for the Visual Arts with regard to such lot.

(b) The contents of the online-only auction as displayed within LotFinder® and http://onlineonly.christies.com, including but not limited to text, graphics, and images (hereinafter the “Material”) are protected by copyright, trademark and other laws and are owned or controlled by Christie’s Inc., Christie’s Images Inc., Christie’s Images Ltd., and/or other affiliated entities (for the purposes of this paragraph 8 are together, “Christie's”), the seller, and/or by third parties. Christie’s and the seller authorize you to view and download a single copy of the Material solely for your personal, non-commercial use provided that the aforementioned single copy shall be deleted and destroyed in whatever form rendered and upon whatever media stored no later than 30 days following the conclusion of the auction. All rights in and to the Material not expressly granted to you are reserved. You may not sell, prepare derivative works based on, modify, reproduce, publicly display, publicly perform, distribute, or otherwise use the Material in any way for any public or commercial purpose without the express prior written permission of Christie’s, the seller or any applicable third party, as applicable. For information on obtaining licenses to use the photographs that appear on LotFinder®, http://onlineonly.christies.com, please contact the Artists Rights Society at (212) 420-9160 or info@arsny.com.

9. SEVERABILITY
If any part of these Conditions of Sale and Terms of Use is found by any court to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the conditions shall continue to be valid to the fullest extent permitted by law.

10. PERSONAL INFORMATION
Christie’s and the seller will hold and process your personal information and may pass it to another Christie’s Group company for use as described in, and in line with, our privacy policy at www.christies.com/about/help/privacy/warhol. Your review of these terms serves as your consent to permit The Andy Warhol Foundation for the Visual Arts, Inc. to use such personal information as set out in its privacy policy. You are entirely responsible for maintaining the confidentiality of your username and password and for any and all activities that occur under your account.

11. LAW AND JURISDICTION
The rights and obligations of the parties with respect to these Conditions of Sale and Terms of Use, the conduct of the auction and any matters connected with any of the foregoing shall be governed and interpreted by the laws of the State of New York. By registering to bid at auction, the buyer shall be deemed to have submitted, for the benefit of Christie’s and the seller, to the exclusive jurisdiction of the courts of New York County, New York or the federal courts sitting in the Southern District of New York.

12 Borderlinx



Total cost calculations and international shipping are brought to you by a third party supplier, Borderlinx. The following terms and conditions apply to international shipping, in addition to the other provisions of these Conditions of Sale. They will also help you to understand how the international shipping service works.

A. TOTAL COST OF BUYING AND SHIPPING LOTS

With the help of Borderlinx’s Total Cost Calculator™, you will have complete information on the cost of shipping your lot before you make the purchase. The total cost includes:

· The purchase price (including all applicable local taxes and handling fees);

· Customs duty, import tax and any local clearance fees applicable for your country;

· International shipping charges to your designated delivery address; and

· Shipping company surcharges

You will pay for the lot and the cross-border delivery in a single checkout. The total cost is guaranteed - it is pre-calculated and pre-paid so you won’t receive any bills from the shipping company or a customs invoice.

Note that you are purchasing the product(s) from or through Christie’s, not from Borderlinx. Christie’s Conditions of Sale apply to the product purchase.

B. LIMITATIONS

There are limitations on the export of certain types of goods and the countries from and to which they can be shipped. These limitations are described in the Conditions of Sale.

C. CUSTOMS DUTY AND TAX

Customs duty and import tax are specific to a particular country. Customs authorities in each country calculate duty and tax based on a number of factors, including:

· the category in which the product is classified in the international Harmonised Code(HS) system;

· the value of the product (the price you paid);

· for most countries, duty is calculated on a “CIF” basis (meaning Cost, Insurance and Freight), so the shipping charge you pay will also be factored in to the calculation of the duty you will pay.

Although you will generally not see Customs paperwork, you should be aware that the actual tax and duty charged by the Customs authorities in your country sometimes turns out to be higher or lower than the amount you paid, for a number of reasons. For example, a particular Customs authority may classify your lot in a different category in the Harmonised Code (HS) system from the category used by the Total Cost Calculator, or your local Customs authorities may (for whatever reason) use a different formula to calculate the duty; or the calculation may be affected by a change in currency exchange rates between the time of our calculation and the time the tax and duty is paid to Customs authorities. The important point here is that in such situations, you will not receive a refund (if the amount is less) or be charged extra (if the amount is greater). This is due to the administrative time and costs that such arrangements would require.

D. INTERNATIONAL SHIPPING

Your order will be picked up by Borderlinx’s shipping partner directly from a Christie’s fulfilment centre. Christie’s will obtain any special permits required for the export or import of the product and is the “Exporter of Record” (for US purchases, the term is “US Principal Party In Interest” or USPPI). Borderlinx will handle all required procedures for international shipping and customs clearance. As the recipient of the package, you are the “Importer of Record” and you appoint Borderlinx as your agent to manage all import and customs clearance procedures and to ensure that customs duties and taxes are paid to the relevant customs and tax authorities in your country.

You will not be contacted by Borderlinx or its shipping partners except for routine communications necessary to deliver your items or to make arrangements for pick-up if you need to return an item.

For items being exported from the US, you expressly agree not to divert, reship or forward any part of a shipment: (1) to any country which the US Department of the Treasury, Office of Foreign Assets Control (OFAC) has designated as supporting international terrorism (currently Cuba, Iran, North Korea, Sudan, and Syria); or (2) to any individual or entity named in: the OFAC list of Specially Designated Nationals and Blocked Persons ; or any of the lists maintained by the US Department of Commerce Bureau of Industry and Security - theDenied Persons List, theEntity List, or the Unverified List; or any of the lists maintained by the US Department of State - the Debarred Parties List or the Proliferators List.

E. SHIPPING CHARGES

The international shipping charge depends on:

· the destination country and (for some countries), the state or province of the delivery address; and

· the weight and dimensions of the package in which your product is shipped.

It is possible that Volumetric Weight (sometimes called Dimensional Weight) may apply to your package. Volumetric Weight calculations are used in international air transportation because the cost of transporting a package depends on the amount of space that it occupies in an aircraft, as well as the actual (dead) weight. A high-volume, low-weight item occupies a large volume of space in comparison to its actual weight. The shipping charge is based on actual weight (“dead weight”) or Volumetric Weight, whichever is greater.

F. DELIVERY TIMES

Your purchases will be shipped via international air. On average, Express delivery will take approximately 2-5 business days from the date of dispatch. This is an estimate, not a guarantee. Delivery time depends on a number of variables, and there may be delays such as bad weather affecting air transport, or a package being held for inspection by Customs. Neither Christie’s nor Borderlinx is liable for any delays in international transportation or customs clearance. Shipments can be delivered directly to most addresses (except post office boxes). However, in certain remote areas, you may need to pick up your package from the closest service point of Borderlinx’s shipping partner.

7. CLAIMS

Claims related to the product. Be sure to check the details of your purchase carefully before you make the payment, and check the contents of the package(s) promptly upon receipt. If you have a problem with the product, contact Christie’s Client Service at [link] to find out about return shipping arrangements.

Claims for loss or damage during shipment: see section 8 below for submitting claims for loss or damage occurring during shipment.

8. LOSS OR DAMAGE DURING SHIPMENT

On rare occasions, a package may be lost or the contents damaged during international shipment – no matter how carefully it is handled.

Any claims for loss or damage may be covered by Christie’s Loss Damage and Liability policies (LDL). Please refer to certain conditions that may apply on our website at www.christies.com/liabilityterms.

If your package is lost or damaged in international transit, you will need to submit a claim within 14 days of the date of delivery, or within 14 days of the date you received confirmation that it was lost. To make a claim, click Here [link].

9. PRIVACY AND DATA PROTECTION

In order to get your purchase shipped internationally to you, certain personal information about you is provided to Borderlinx (including Borderlinx affiliates and trusted suppliers as necessary), including your name, delivery address, phone number, the product(s) you buy from Christie’s, the price you pay for the product(s), and the weight and dimensions of the package. Borderlinx will treat this information as private and confidential and will only use it for the purpose of providing international shipping and customs clearance services necessary to get your products delivered to you. Information about the packages being shipped to you will be provided to the necessary authorities for purposes of export, import, duty, tax, and security screening. The information may include your name, delivery address, description of the goods, their value, the number of pieces, and the weight of the package. This information is required by law and regulations applicable in the countries from where and to where packages are transported. Borderlinx is committed to responsible data management, complies with applicable data protection legislation, and employs industry standard practices to protect the security of your data, which may be stored and processed in the UK, Belgium, the US, and other countries. By arranging for international shipping of your Christie’s purchases, you consent to the disclosure of personal information to Borderlinx as described in this section. Borderlinx has given Christie’s assurances that they will not sell or disclose your information to anyone; the only reason they need the information is to deliver your package safely to you.

Questions About Cross-Border Shipping?

Please contact Christie’s Client Service at [link] if you have any questions about international shipping in general, or about a specific shipment of Christie’s products. Christie’s will work with Borderlinx to provide you with the answers.

10. ABOUT BORDERLINX

Borderlinx has been in business since 2007 and has developed in-depth knowledge and expertise in international e-commerce and cross-border shipping.

11.TRADEMARKS

Borderlinx” and “Total Cost Calculator” are trademarks owned by Borderlinx, and they are used here with permission.




IMPORTANT NOTICES AND EXPLANATION OF CATALOGUING PRACTICE

IMPORTANT NOTICES

CHRISTIE’S INTEREST IN PROPERTY CONSIGNED FOR AUCTION

From time to time, Christie’s may offer a lot which it owns in whole or in part. Such property is identified in the lot description with language indicating such ownership. On occasion, Christie’s has a direct financial interest in lots consigned for sale, which may include guaranteeing a minimum price or making an advance to the consignor that is secured solely by consigned property. Such property is identified in the lot description with language indicating such ownership. This language will appear both in cases where Christie’s holds the financial interest on its own and in cases where Christie’s has financed all or part of such interest through third parties. When a third party agrees to finance all or part of Christie’s interest in a lot, it takes on all or part of the risk of the lot not being sold, and will be remunerated in exchange for accepting this risk. The third party may also bid for the lot. Where it does so, and is the successful bidder, the remuneration may be netted against the final purchase price. If the lot is not sold, the third party may incur a loss. For this auction, if property has language indicating as much in the lot description, Christie’s guarantee of a minimum price has been fully financed by third parties.

ALL DIMENSIONS ARE APPROXIMATE

CONDITION REPORTS
Condition reports are usually available online. The lot descriptions may include references to condition in only descriptions of multiple works (such as prints, books and wine). Please contact Client Services at (212) 636-2002 or by email at Warhol@christies.com for supplementary information. Such information is provided as a service to interested clients. Bidders should note that lot descriptions of property and condition reports are not warranties and that each lot is sold “as is.”

We recommend that you always examine the property personally.

CERTIFICATE OF PROVENANCE

All works from the Andy Warhol Foundation for the Visual Arts will be sold with a Certificate of Provenance, indicating the work originates from the Estate of Andy Warhol, and thence, the Andy Warhol Foundation for the Visual Arts. Christie’s will maintain a database of these purchases which will be used to substantiate provenance in the future and supply relevant information to the Andy Warhol Catalogue Raisonné.

Further, each work is stamped with Estate of Andy Warhol and The Andy Warhol Foundation for the Visual Arts, Inc. stamps unless the work cannot physically be stamped whereas a separate document containing the stamps will accompany the work, or when the work is a signed and numbered editioned print.

PROPERTY INCORPORATING MATERIALS FROM ENDANGERED AND OTHER PROTECTED SPECIES

Property made of or incorporating (irrespective of percentage) endangered and other protected species of wildlife are marked with the symbol ~ in the lot description (or are identified in the lot description with language indicating as such). Such material includes, among other things, ivory, tortoiseshell, crocodile skin, rhinoceros horn, whale bone and certain species of coral, together with Brazilian rosewood. Prospective purchasers are advised that several countries prohibit altogether the importation of property containing such materials, and that other countries require a permit (e.g., a CITES permit) from the relevant regulatory agencies in the countries of exportation as well as importation. Accordingly, clients should familiarize themselves with the relevant customs laws and regulations prior to bidding on any property with wildlife material if they intend to import the property into another country. For example, the U.S. generally prohibits the importation of articles containing species that it has designated as endangered or threatened if those articles are less than 100 years old.

Please note that it is the client's responsibility to determine and satisfy the requirements of any applicable laws or regulations applying to the export or import of property containing endangered and other protected wildlife material. The inability of a client to export or import property containing endangered and other protected wildlife material is not a basis for cancellation or rescission of the sale. Please note also that lots containing potentially regulated wildlife material are marked as a convenience to our clients, but neither Christie's nor the seller accepts liability for errors or for failing to mark lots containing protected or regulated species.




[this should not be included in the t&cs but instead should be linked out to from the t&cs – see section 9]



Christie’s Privacy Policy

Personal Data Privacy and Protection Policy

Christie’s considers the privacy and protection of its clients' personal data of utmost importance. To ensure that you feel confident about providing us with your personal information when communicating with us and using our services, we outline below our practices in relation to the collection and use of personal data.

Purposes

Christie’s will collect, record, store and use your personal data world-wide but only to enable you to consign or purchase property or services and, unless you object, to advise you of forthcoming sales, events and services.

Privacy

Except as described herein, we will not share your Personal Data with anyone outside the Christie’s International Plc group of companies.

We may from time to time however need to disclose your personal data to agents or contractors of Christie’s to enable Christie’s to process transactions or communicate with you. Where we do so it will be on the basis that they are required to keep the information confidential and will not use the information for any other purpose than to carry out the services they are performing for Christie’s.

In addition, in providing your information to us you specifically agree to Christie’s using this for the purposes of the marketing or any actual or potential sale of any item included in the online-only auction and to Christie’s passing this information to The Andy Warhol Foundation for the Visual Arts, Inc. for the Foundation’s own purposes including for any actual or potential sale and for marketing purposes related to the Foundation and any works owned or licensed by it including the Andy Warhol Catalogue Raisonne. The information passed to The Andy Warhol Foundation for the Visual Arts, Inc. will be subject to the privacy policy of The Andy Warhol Foundation for the Visual Arts, Inc.

Security

Any personal data you provide to us is securely stored in a database held by Christie’s Inc. in New York and/or Christie Manson & Woods Limited in the United Kingdom to which only authorized Christie’s employees and agents have access.

We have put in place administrative measures to ensure that the access which Christie’s employees and agents have to personal data on our server is limited to the extent necessary in order to perform their functions.

All our employees are required to sign a confidentiality agreement in which they agree to treat personal data as strictly confidential.

The server holding your personal data is protected against unauthorized physical and electronic access. These measures include an electronic firewall and various other protection measures that involve virus scanning, installation of security patches, vulnerability testing, backup and recovery planning, employee training, security audits and other steps designed to constantly improve the data protection posture. The Server is not directly connected to the Internet, and data is therefore only available to authorized computers.

Christie’s and the Internet

Website: In general, you may browse our Internet site anonymously. However, certain of our online services require the collection of some personally identifying information, such as your name, address, and, when appropriate, your credit information.

For transactions over Christie’s website involving particularly sensitive information, such as credit card numbers and accounting information, Christie’s will employ accepted transmission and storage protocols, such as encryption, to prevent this information from being disclosed. This means that when you type in sensitive information such as credit card details, it will be automatically converted into codes before being securely sent to us over the Internet.

This information will be used for processing transactions but may also be used for internal data processing, such as compiling statistical information about your interests and the use of our Internet site. As a service to you, we may also use this information to customize the content we offer

Email: In order to provide you with timely notice about upcoming auctions and events, Christie’s may send you email notices based on your expressed interests and bidding history. To facilitate this service, Christie’s may note some of the pages you visit on our website.

At the bottom of each email you will be provided with the option to update your collecting interests or unsubscribe from future mailings. At any time, you may also send an email to info@christies.com and request that your email address be removed from our lists.

Business Relationships: The Christie’s sites contain links to other Web sites. None of the information you provide to us will be transmitted to other Web sites. Christie’s is not responsible for the privacy practices or the content of such Web sites.

Cookies: Christie’s may also use on its Internet properties a personalization technology called a “cookie.” A cookie is a small text file that is stored on your computer’s hard disk that identifies your browser software to a Web site. Cookies allow us to track you when you enter, leave, and re-enter our sites and what path you take through our sites. In doing this, we can provide you with a more personalized experience.

LotFinder®: Christie’s provides users of this site the opportunity to inform others (each, a “recipient”) about a sale or lot for sale, which will require the sender to provide us with the recipient’s email address(es). At the sender’s request, Christie’s will automatically send the recipient an email on behalf of the sender containing a link to Christie’s site containing the information about the sale or lot. Christie’s will not initiate any further contact with the recipient, beyond the email sent on behalf of the sender, unless the recipient specifically “subscribes” for extra services by filling out a registration form.

If you, as a recipient, do not wish to receive further e-mails from the sender, please reply to the sender requesting they stop sending you the email in the future. Christie’s does not accept responsibility for any third party’s use (or misuse) of this service.

Exceptions: While we will not voluntarily disclose your personal data we may disclose such information if we are required to do so by a Court Order, if we are requested by government or law enforcement authorities, if we are required to do so pursuant to other legal processes, or if it becomes necessary to protect the rights or property of Christie’s.

Contact: If you have any queries in relation to the use and protection of your personal data please contact us at info@christies.com.