CONDITIONS FOR BUYERS RESIDING IN ALL COUNTRIES EXCEPT THOSE IN THE EUROPEAN UNION AND IN ASIA

ONLINE - ONLY SALES: AUCTIONS AND BUY-NOW

CONDITIONS OF SALE

These Conditions of Sale set out the terms on which Christie’s (also referred to as "we", "us", "our" and "ourselves" in these Conditions of Sale) and the seller offer the lots listed in the Sale Particulars for the purposes of this online only sale. These Conditions of Sale will not apply in any other sale or circumstance..

Words and expressions which are in bold in these Conditions of Sale have the meaning set out in the glossary which is set out in section J of these Conditions of Sale.

you should read these Conditions of Sale and the Sale Particulars carefully before PLACING ANY BID OR OFFERING TO BUY ANY ITEM USING BUY-NOW. these conditions of sale and the sale particulars set out terms and conditions which may become contractually binding on you. they also describe certain limitations and exclusions of liability for Christie’s and (where applicable) the third party seller of an item.

By bidding in an auction, or where you (also referred to as the "buyer” and “your” in these Conditions of Sale) offer to purchase alot using Buy-Now, you agree to these Conditions of Sale and the Sale Particulars shall be contractually binding on you.

If you make a successful bid for a lot in an auction, or purchase a lot using Buy-Now, theseConditions of Sale and the provisions of the Sale Particulars will form a contract for sale of that lot between you and the seller.

The party who is the seller for the purposes of an auction or Buy-Now sale will depend on who owns the lot at the time the sale is completed. If the lot is owned by Christie’s, we will be theseller. If the item is owned by a third party, the third party owner of the lot will be the seller.

Where the third party is the seller, Christie’s will be selling that lot as the agent of the seller. This means that Christie’s is providing services to the third party seller to help them sell their lot and that Christie’s is concluding the contract for the sale of the lot on behalf of that third party seller.

When Christie’s is the agent of the third party seller, the contract of sale which is created by any successful bid for a lot, or by any purchase of a lot using Buy-Now, will be directly between you and the third party seller, and not between you and Christie’s. However, even when the sale is by Christie’s on behalf of the third party seller, Christie’s gives certain undertakings to you directly. These are further described below in these Conditions of Sale. The Sale Particulars will specify where the lot being offered for sale is located. This is important because, amongst other things, it may affect shipping costs, the VAT or sales tax being charged.

A. BEFORE THE SALE

1. DESCRIPTION OF LOTS

(a) Certain words used in the Sale Particulars to describe a lot have special meanings. You can find details of these in the Explanation of Cataloguing practice which forms part of these Conditions of Sale following paragraph K. You can find a key to Symbols used in the Sale Particulars under the heading “symbols used in this sale” in paragraph K.

(b) Our description of any lot and any condition report and any other statement made by us (whether orally or in writing) about any lot, including about its nature or condition, artist, period, materials, approximate dimensions or provenance are based solely on information provided to us by The Terrence Higgins Trust. The Terrence Higgins Trust has not carried out in-depth research of the sort carried out by professional historians and scholars. All dimensions and weights are approximate only.

2. CONDITION

(a) The condition of lots sold can vary widely due to factors such as age, previous damage, restoration, repair and wear and tear. The nature of the lots sold means that they will rarely be in perfect condition. Lots are sold in the condition they are in at the time of the sale.

(b) Any reference to condition in Sale Particulars will not amount to a full description ofcondition, and images may not show the condition of a lot clearly. Condition reports may be available to help you evaluate the condition of a lot. Condition reports are provided free of charge as a convenience to our buyers and are for guidance only. They offer our honest opinion but they may not refer to all faults, restoration, alteration or adaptation because our staff are not professional restorers or conservators. For that reason they are not an alternative to taking your own professional advice.

3. OUR RESPONSIBILITY FOR OUR DESCRIPTION OF LOTS

Information about our responsibility for our description of, and statements about, lots in the Sale Particulars and any condition report can be found in paragraphs E and H.

4. ESTIMATES

Estimates are based solely on information provided to us by The Terrence Higgins Trust. Estimates can change. Neither you, nor anyone else, may rely on any estimate as a prediction or guarantee of the actual selling price of a lot.

5. JEWELLERY

The following terms and conditions shall apply in relation to the sale of jewellery.

(a) Coloured gemstones (such as rubies, sapphires and emeralds) may have been treated to improve their look, through methods such as heating and oiling. These methods are accepted by the international jewellery trade but may make the gemstone less strong and/or require special care over time.

(b) We do not obtain a gemological report for every gemstone sold in our sales. Where we do get gemological reports from internationally accepted gemological laboratories, such reports will be described in the Sales Particulars. Reports from American gemological laboratories will describe any improvement or treatment to the gemstone. Reports from European gemological laboratories will describe any improvement or treatment only if we request that they do so, but will confirm when no improvement or treatment has been made. Because of differences in approach and technology laboratories may not agree whether a particular gemstone has been treated, the amount of treatment or whether treatment is permanent. The gemological laboratories will only report on the improvements or treatments known to the laboratories at the date of the report.

(c) For jewellery sales, estimates are based on the information in any gemological report or, if no report is available, assume that the gemstones may have been treated or enhanced.

(d) Bidding restrictions. We are unable to support sales or arrange delivery of jewellery lots to addresses located in the European Union if the Christie’s selling company is located in New York or Hong Kong. Lots can be delivered to addresses outside the European Union including Switzerland, Norway, Iceland and Lichtenstein.

6. WATCHES & CLOCKS

The following terms and conditions shall apply in relation to the sale of watches and clocks.

(a) Almost all clocks and watches are repaired in their lifetime and may include parts which are not original. We do not give a warranty that any individual component part of any watch is authentic. Watchbands described as “associated” are not part of the original watch and may not be authentic. Clocks may be sold without pendulums, weights or keys.

(b) As collectors’ watches often have very fine and complex mechanisms, a general service, change of battery or further repair work may be necessary, for which you are responsible. We do not give a warranty that any watch is in good working order. Certificates are not available unless described in the Sale Particulars.

(c) Most wristwatches have been opened to find out the type and quality of movement. For that reason, wristwatches with water resistant cases may not be waterproof and we recommend you have them checked by a competent watchmaker before use.

See Section G2(g) for information on transport and shipping of watches and watchbands.

7. WINE

The following terms and conditions shall apply in relation to the sale of wine.

(a) Wines may only be sold and delivered to persons over the age specified in the Sale Particulars. By registering to bid, you affirm that you are at least that age. Any wines delivered or shipped to you or your agent must be received and signed for by an adult who is at least that age. 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 positive proof of age, the provision of an invalid delivery address (including but not limited to a P.O. box) or the lack of a recipient to sign and accept delivery.

(b) Limitation on shipment of wines: Buyers are reminded of the limitations and restrictions imposed by various states and countries regarding the importation of wines between different states and countries. Various jurisdictions may prohibit the importation or limit the quantity of wines that may be shipped into their jurisdictions. In addition, various jurisdictions may require the buyer, seller, shipper or other entity to possess certain licenses or permits before shipping wines. It is the sole responsibility of the buyer to determine before bidding at auction whether wines can be shipped from or into any state or jurisdiction and the legal obligation or responsibility for obtaining any required permits or licenses on behalf of the buyer prior to shipment. It is the buyer’s responsibility to abide by any customs regulations and required declarations for international shipments. The seller and Christie’s make no representation as to the legal rights of any buyer to ship wines to or from any jurisdiction.

(c) Import/export licenses or other permits: Unless otherwise agreed by us 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 our right to charge interest or storage charges on late payment. A delay in obtaining required permits or licenses shall not justify a rescission of any sale nor a delay in making full payment for the lot, and we shall not be obliged 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 full payment for the lot.

(d) Notwithstanding any other terms of these Conditions of Sale, if within 30 days after the sale, Christie’s and the seller have received from the original buyer of any lot notice of a claim in writing that any lot is short or has suffered breakage, then Christie’s and the seller in their sole discretion will decide any such claim as between the seller and the buyer and may rescind the sale and refund the purchase price received. The benefits of this provision are not assignable and shall only apply to the original buyer when the lot was sold at a Christie’s online-only sale. The original buyer must have remained the owner of the lot without disposing of any interest in it to any third party. The buyer’s sole and exclusive remedy against Christie’s, and the seller, and any of their officers, employees or agents, in place of any other remedy which might be available, is the cancellation of the sale and the refund of the original purchase price paid for the lot. Neither Christie’s nor the seller will be liable for any special, incidental or consequential damages including, without limitation, loss of profits or interest.

(e) Though every effort is made to describe the wines in the lot descriptions and to describe or measure the levels of older vintages, buyers of old wines must make appropriate allowances for natural variations of ullages, conditions of corks and wine. Corks over twenty (20) years old begin to lose their elasticity and levels can changes between cataloguing and sale. Old corks have also been known to fail during or after shipment. We therefore repeat that there is always a risk of cork failure with old wines and due allowance must be made for this. Under no circumstances can a return be accepted or an adjustment of price or credit be made after delivery except under the terms stated in paragraph A7(d) above.

(f) The Sale Particulars may contain additional conditions and other terms which apply to specific sales of wine.

8. General

(a) Delivery addresses: The buyer must ensure that it provides a valid delivery address for all items to be shipped. 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 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. It is the responsibility of The Terrence Higgins Trust to arrange for delivery of items to the buyer.

(b) Import/export licenses or other permits: Unless otherwise agreed by us 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 may result in additional time to process at an additional cost and does not affect his or her obligation to make payment on the payment due date nor our right to charge interest or storage charges on late payment. A delay in obtaining required permits or licenses shall not justify a rescission of any sale nor a delay in making full payment for the lot, and we shall not be obliged 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. It is the buyer's responsibility to check if items may be imported into and/or transported to the specified delivery location and plan for additional time to apply for and receive the appropriate permits and/or licenses. No such restriction or delays associated to processing shipments shall justify the rescission of any sale or delay in making full payment for the lot.

B. REGISTERING TO BID

1. REGISTRATION

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://www.christies.com/onlineonly and providing any required information and/or completing any necessary forms. Registration must be completed within the times specified in the Sale Particulars. For certain online-only sales you may be required to confirm a minimum age.

2. REGISTERING AS PRINCIPAL/ON BEHALF OF A COMPANY

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 buyer's premium and all applicable taxes, plus 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 will only look to the principal for payment.

If you are bidding on behalf of an entity as a Super Authorized User against an entity’s transactional account withChristie’s, you must select the appropriate account at time of sale registration. If you do not already have a My Christie’s you will first need to create one; similarly if the entity does not have a Christie’s transactional account it will to create one. In either situation, Christie’s may require your entity to provide certain documents or meet certain qualifications as set forth below. Please contact Christie’s Client Service to set up your MyChristie’s account or entity transactional account.

As a successful bidder, if you registered as a company bidder, your company will need to pay for any purchases via a credit card issued to the company account and not a personal account. Company buyers claiming exemption from sales tax by means of a reseller’s certificate (where available) must indicate this by ticking the Sales Tax Exemption box (which will be provided where relevant at the time of registration) and have the appropriate documentation on file with Christie's prior to check-out to avoid being charged. Otherwise, as a successful bidder, you will be charged VAT or any other applicable sales tax as part of the check-out process. Buyers subsequently claiming exemption and a refund must provide Christie’s with the appropriate valid and up-to-date documentation and Christie’s will facilitate the process of a refund. It is your responsibility to obtain any relevant documentation and provide it to Christie’s. Any delay in obtaining a refund shall not justify the rescission of any sale.

3. REQUIREMENTS AND CREDIT LIMITS

(a) In order to register to bid, you are required to supply the information requested, including valid credit card or other accepted payment information. Each bidder is subject to an aggregate bidding limit based on the currency of the sale. For sales in USD each bidder will be subject to a bidding limit in the amount of USD 300,000, for sales in GBP each bidder will be subject to a bidding limit of GBP 300,000, for sales in Euros each bidder will be subject to a bidding limit of EUR 300,000 and for sales in HKD each bidder will be subject to a bidding limit of HKD 2,000,000. This bidding limit applies to all items for sale within each particular online auction. 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 Client Service at US: +212.636.2002, UK: +44 (0)207 839 9060, HK: +852 2760 1766. .

(b) Christie’s may also require the production of bank or other financial references or that you meet certain qualifications. Christie’s may also 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.

(c) If you are bidding on behalf of an entity, please contact Christie’s Client Service at US: +212.636.2002, UK: +44 (0)207 839 9060, HK: +852 2760 1766 to set up your MyChristies account. Christie’s may require you, or, if you are registering to bid on behalf of a company in accordance with paragraph 2(b), your company, to provide the following types of information and/or documentation: 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 company 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 to request such information and/or documentation.

(d) Christie’s is committed to the detection and deterrence of money laundering and operates checks and controls for this purpose. In connection with these objectives and in the interests of the reputation and integrity of its business generally, Christie’s reserves the right, at our complete discretion, to: refuse your registration or participation in the auction or Buy-Now sale; 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; and require the production of documents relating to your identity and/or creditworthiness at any point, including in connection with any other transactions, whether online or otherwise.

4. OUR RESPONSIBILITY FOR BIDDING SERVICES

Information about our responsibility for bidding services can be found in paragraph H.

C. DURING THE SALE

1. CONNECTIVITY AND TECHNICAL ISSUES

The application that enables online bidding is optimized for broadband connectivity (DSL or cable modem). Please note that broadband or other internet capacity constraints, corporate firewalls and other technical problems beyond our reasonable control may create difficulties for some users including, by way of example, in relation to accessing sales and in maintaining continuity of such access. Errors may occur in the quality of digital images. We do not accept liability for such difficulties or errors.

2. REFUSAL OF BIDDING

Christie’s reserves the right, in our absolute discretion, to reject your registration to bid; to reject, revoke or refuse to accept any bid or use ofBuy-Now (even those that have been previously accepted); to withdraw or divide any lot; combine any two or morelots; or, whether during or after the sale, to restart or continue the bidding or to re-offer the lot as a new Buy-Now item at a fixed price. Christie’s also reserves the right to disable or deactivate your account at any time during the sale. Christie’s may exercise such rights in cases where a manifest error becomes apparent but this does not limit the circumstances in which Christie’s may exercise such rights.

3. ONLINE BIDDING PROCESS/ BIDDING INCREMENTS

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 credit limit referred to in paragraph B3(a). 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, be permitted to amend, retract or revoke your bid. We are not responsible for any errors you make in bidding. Christie’s reserves the right to restart an auction or to restart bidding on any particular lot if it considers it is appropriate and reasonable to do so.

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

Bidding generally opens at or below the low estimate. Bidding opens at a specified bid amount and advances in increments of up to 10%, subject to Christie’s discretion. Bidding increments:

For Sales in GBP:

£0 to £1,000 by £50s

£1,000 to £2,000 by £100s

£2,000 to £3,000 by £200s

£3,000 to £5,000 by £200, £500, £800

(i.e. £4,200, £4,500, £4,800)

£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 by £2,000, £5,000, £8,000

(i.e. £32,000, £35,000, £38,000)

£50,000 to £100,000 by £5,000s

£100,000 to £200,000 by £10,000s

above £200,000 to repeat in the same manner as set forth above.

For Sales in USD:

$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 by $200, 500, 800

(i.e. $4,200, 4,500, 4,800)

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

(i.e. $32,000, 35,000, 38,000)

$50,000 to $100,000 by $5,000s

$100,000 to $200,000 by $10,000s

Above $200,000 To repeat in the same manner as set forth above

For Sales in HKD:

HK$1,000 to HK$2,000 by HK$100s

HK$2,000 to HK$3,000 by HK$200s

HK$3,000 to HK$5,000 by HK$200, 500, 800

(i.e. HK$4,200, HK$4,500, HK$4,800)

HK$5,000 to HK10,000 by HK$500s

HK$10,000 to HK$20,000 by HK$1,000s

HK$20,000 to HK$30,000 by HK$2,000s

HK$30,000 to HK$50,000 by HK$2,000, 5,000, 8,000

(i.e. HK$32,000, 35,000, 38,000)

HK$50,000 to HK$100,000 by HK$5,000s

HK$100,000 to HK$200,000 by HK$10,000s

HK$200,000 to HK$300,000 by HK$20,000

HK$300,000 to HK$500,000 by HK$20,000,50,000, 80,000

(i.e. HK$320,000, HK$350,000, HK$380,000)

HK$500,000 to HK$1,000,000 by HK$50,000s

Above HK$1,000,000 To repeat in the same manner as set forth above

For Sales in Euros:

€0 to 100 by €5 or €10

€100 to €200 by €10

€200 to €300 by €20

€300 to €500 by €20, €50, €80

(i.e. €320, €350, €380)

€500 to €1.000 by € 50

€1.000 to € 2.000 by €100

€ 2.000 to € 3.000 by €200

€ 3.000 to € 5.000 by €200, €500, €800

(i.e. €3.200, €3.500, €3.800)

€ 5.000 to € 10.000 by €500

€ 10 000 to € 20 000 by €1.000

€20.000 to €30.000 by €2.000, €5.000, €8.000

€50.000 to € 100.000 by €5.000

€100.000 to €200.000 by €10.000

above €200 000 To repeat in the same manner as set forth above

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

Bids may only be submitted between the dates and times specified in the Sale Particulars.

Christie’s may show bids in some other major currencies as well as the currency of the auction, as specified in the Sale Particulars. Any conversion is for guidance only and we cannot be bound by any rate of exchange shown by the currency calculator.

4. RESERVES

Unless otherwise indicated, all lots are offered subject to a reserve, which is the confidential minimum price the seller will accept and below which the lot will not be sold. The reserve will not exceed the low pre-sale estimate. If any lot is not subject to a reserve, it will be identified in the lot description. If you place a maximum bid that equals or exceeds the reserve on a lot for which the reserve has not been met, the system may automatically raise the current bid to meet the reserve price. Under no circumstances will the system place any bid on behalf of the seller at or above the reserve.

5. THE RECORD OF THE SALE:

The record of sale (which are Christie’s own records which relate to the 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.

6. WITHDRAWAL OF LOTS

Christie’s reserves the right, at our complete discretion, to withdraw any lot from the sale, whether prior to or during the auction or Buy-Now sale, and shall have no liability whatsoever with regard to such withdrawal.

7. EMPLOYEE BIDDING

Please note that employees of Christie’s may be bidding in any Online Only auction.

8. “BUY-NOW”

If this functionality is offered it allows you to buy the relevant lot at a fixed price (the “Buy-Now price”), subject to the Sale Particulars and the Conditions of Sale.

A purchase at the Buy-Now price enables you to purchase the lot without taking part in, or winning, the bidding for that lot during an auction. If you purchase such a lot at the Buy-Now price, the Conditions of Sale and Sale Particulars for that lot will apply to the sale in the same manner as if you had been the successful bidder in an auction for that lot.

9. SUCCESSFUL BIDS - AUCTIONS

Unless Christie’s decides to use its discretion as set out in paragraph C(2) and C(6) 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 at the end of the auction. 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 “My Purchases” tab of the online-only auction. We do not accept responsibility for notifying you of the result of your bids unless you are successful.

D. THE BUYER’S PREMIUM, TAXES AND ARTIST’S RESALE ROYALTY

1. THE BUYER’S PREMIUM

We charge a buyer’s premium to the buyer on the hammer price and Buy-Now price of each lot sold. The amount of the buyer’s premium is set out in the Sale Particulars.

2. VAT AND SIMILAR TAXES

You are responsible for any value added tax (VAT) (including but not limited to, any Import VAT), 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 the lot. Further information and guidance as to the application of such taxes are set out in the Sale Particulars. Tax charges and refunds depend on the particular circumstances of the buyer so the information in the Sale Particulars, which is not exhaustive, should be used only as a general guide. In all circumstances the applicable law of the relevant jurisdiction takes precedence.

3. ARTIST’S RESALE ROYALTY

In certain countries, local laws entitle the artist or the artist’s estate to a royalty known as ‘artist’s resale right’ when any lot created by the artist is sold. We identify these lots with the symbol λ in the Lot Notes. If these laws apply to a lot, you must pay us an extra amount equal to the royalty (unless the law requires the payment to be made by the seller) and we will pay the royalty to the relevant authority on behalf of the seller in satisfaction of the seller’s obligation to pay the resale royalty.

The royalty only applies when the hammer price of the lot exceeds the following thresholds:

• For lots located in the UK at the time of sale: where the hammer price of the lot is 1,000 euro or more
• For lots located in France at the time of sale: where the hammer price of the lot is 750 euro or more
• For lots located in Netherlands at the time of sale: where the hammer price of the lot is 3,000 euro or more
• For lots located in Hong Kong, New York, and Switzerland at the time of sale: no royalty is currently payable

The Estimated Costs Calculator shows the location of the lot and includes the relevant royalty amount when you are bidding on the lot.

We work out the amount owed as follows:

Royalty for the portion of the hammer price (in euros)

4% up to 50,000

3% between 50,000.01 and 200,000

1% between 200,000.01 and 350,000

0.50% between 350,000.01 and 500,000

over 500,000, the lower of 0.25% and 12,500 euro.

The total charge for artist resale right on any lot cannot be more than 12,500 euro. Where the currency of the sale is not the euro, we will work out the artist’s resale royalty using the rate of exchange of the European Central Bank on the day of the auction.

E. WARRANTIES

1. SELLER’S WARRANTIES

If Christie’s is the seller of a lot, it gives no warranty whatsoever to the buyer or any third party regarding the lot.

Otherwise, for each lot, the seller gives a warranty that the seller:

(a) is the owner of the lot or a joint owner of the lot acting with the permission of the other co-owners or, if the seller is not the owner of the lot, has the permission of the owner to sell the lot, or the right to do so in law; and

(b) has the right to transfer ownership of the lot to the buyer without any restrictions or claims by anyone else.

2. CHRISTIE’S AUTHENTICITY WARRANTY

Christie’s gives no warranty as to the authenticity of any lot.

3. DISCLAIMER OF ADDITIONAL WARRANTIES

To the fullest extent permissible under applicable law, Christie’s and the seller disclaim and exclude any and all other warranties of any kind relating to the lots and the online-only service, whether express or implied by statute or common law or otherwise.

This disclaimer and exclusion does not affect your statutory rights as a consumer, nor your rights under the warranties in paragraph E1.

F. PAYMENT

1. HOW TO PAY

(a) You must pay the total amount due: in the case of auctions by no later than the time specified in the Sale Particulars. In the case of Buy Now sales you must commence the payment process within 30 minutes of adding an item to your basket and complete the payment process within a further period of 15 minutes of starting that process. The total amount due is the total of the following amounts:

(i) the hammer price and the buyer’s premium (in the case of a sale by auction) OR the Buy-Now price in the case of a Buy-Now sale;

(ii) any amounts due under paragraph D3 (artist's royalty) above; and

(iii) any duties, goods, sales or service tax or VAT.

International Duties: For international buyers, the terms of sale are Delivered Duty Unpaid (DDU). It is your responsibility to ascertain and pay all international duties, custom charges, taxes, charges and tariffs owed to the appropriate government entity or that otherwise need to be paid prior to shipment and/or delivery including any third-party charges necessary to facilitate shipment.

(b) We will only accept payment from the registered bidder. We cannot change the buyer’s name on an invoice or re-issue the invoice in a different name. You must pay immediately even if you want to export the lot and you need an export license.

(c) You must pay for any lot bought at Christie’s via the online-only auction by a permitted credit or debit card unless an alternative method is specified in the Sale Particulars. We will only accept credit cards with a MasterCard, Visa, American Express or China Union Pay (if the China Union Pay credit card has a Visa or MasterCard logo) and (in the case of sales where the Christie’s selling entity is in the United States, Discover – including Diners Club International and JCB). Other methods of payment will not be accepted unless specified. Christie’s will only accept payment from the registered bidder. If you registered and bid as a company, your company will need to pay for any purchases via a credit card issued to the company 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. Please contact Christie’s on US: +212.636.2002, UK: +44 (0)207 839 9060, HK: +852 2760 1766 for any questions relating to payments

2. PAYMENT METHOD Please note that if you pay for your purchase using a credit card issued outside the region of the sale, depending on the type of card and account you hold, the payment may incur a cross-border transaction fee. If you think this may apply to, you, please check with your credit card issuer before proceeding to check-out.

3. TRANSFERRING OWNERSHIP TO YOU

You will not own the lot until we have received full and clear payment of all amounts due.

4. TRANSFERRING RISK TO YOU

The risk in and responsibility for the lot will transfer to you from whichever is the earlier of the following:

(a) When the lot comes into your physical possession or that of any person you identify to take possession of the lot; or

(b) If you arrange to use a carrier to deliver the goods to you and the carrier is not one that The Terrence Higgins Trust provides as an option for you to choose, when the lot is collected by that carrier.

5. WHAT HAPPENS IF YOU DO NOT PAY

(a) If you fail to pay us the total amount due in full by the due date, we will be entitled to do one or more of the following (as well as enforcing any other rights we have by law):

(i) We can charge you a late-payment fee worked out at a rate of 5% a year above the UK Lloyds TSB base rate from time to time on the unpaid amount due;

(ii) We can cancel the sale of the lot. If we do this, we may sell the lot again, in which case you must pay us any shortfall between the total amount due to us and the proceeds from the resale.

(iii) In the case of Buy-Now sales, failure to complete payment within the time allowed will result in the lot being re-offered in the sale. You must also pay all costs, expenses, losses, damages and legal fees we have to pay or may suffer and any shortfall on seller’s commission and buyer’s premium we have to pay on the resale;

(iv) We can hold you legally responsible for the total amount due and may begin legal proceedings to recover it together with our late-payment fee, legal fees and costs as far as we are allowed by law;

(v) We can take what you owe us from any amounts which we or any company in the Christie’s Group may owe you (including any deposit or other part-payment which you have paid to us);

(vi) We can at our sole option reveal your identity and contact details to the seller; and/or

(vii) We can take any other action we see necessary or appropriate.

(b) If you owe money to us or to another Christie’s Group company, we can use any amount you do pay, including any deposit or other part-payment you have made to us, or which we owe you, to pay off any amount you owe to us or another Christie’s Group company for any transaction.

6. KEEPING YOUR PROPERTY

If you owe money to us or to another Christie’s Group company, as well as the rights set out in paragraph F5 above, we can use or deal with any of your property we hold or which is held by another Christie’s Group company in any way we are allowed to by law. We will only release this property to you after you pay us or the relevant Christie’s Group company in full for what you owe. However, if we choose, we can also sell your property in any way we think appropriate. We will use the proceeds of the sale against any amounts you owe us and we will pay any amount left from that sale to you. If there is a shortfall, you must pay us any difference between the amount we have received from the sale and the amount you owe us.

G. TRANSPORT AND SHIPPING

1. TRANSPORT AND SHIPPING

For any lots you have purchased we will provide the address you have provided us with at check-out to The Terrence Higgins Trust and they will be responsible for arranging shipment, delivery, and/or collection of the lot(s) to or by you. We will have no responsibility with respect to any shipment or transport of any lot. Christie’s is not 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 we may suggest any third party handler, packer or carrier if so requested, we do not accept liability for their acts or omissions and you agree to release us from any such liability

2. EXPORT AND IMPORT

(a) We aim not to include any lots in online-only sales which will be prevented from leaving a country by the laws of the country in which the lot is located, or from being delivered to a country selected by the buyer to which it is to be shipped.

However, any lot sold may be affected by laws on exports from the country in which it is sold and the import restrictions of other countries. Many countries require a declaration of export for property leaving the country and/or an import declaration on entry of property into the country. Obtaining the necessary permits and/or licenses may result in additional costs and subsequent delays. Local laws may prevent you from importing a lot or may prevent you selling a lot in the country you import it into. You alone are responsible for getting advice about and meeting the requirements of any laws or regulations which apply to exporting or importing any lot prior to bidding. If you are refused a license or there is a delay in getting one, you must still pay us in full for the lot. We may be able to help you apply for the appropriate licenses, if you ask us to and pay our fee for doing so.

(b) Lots made of protected species

Lots made of or including (regardless of the percentage) endangered and other protected species of wildlife are marked with the symbol ~ in the Sale Particulars. This material includes, among other things, ivory, tortoiseshell, crocodile skin, rhinoceros horn, whalebone and certain species of coral, together with Brazilian rosewood. Several countries refuse to allow you to import property containing these materials, and some other countries require a license from the relevant regulatory agencies in the countries of exportation as well as importation. As a result you should check the relevant customs laws and regulations before bidding on any lot containing wildlife material if you plan to import the lot into another country.

(c) Items containing material that originates from Burma (Myanmar)

Items which contain rubies or jadeite originating in Burma (Myanmar) may not generally be imported into the United States. As a convenience to US buyers, lots which contain rubies or jadeite of Burmese or indeterminate origin have been marked with the symbol ψ in the Sale Particulars. In relation to items that contain any other types of gemstones originating in Burma (e.g. sapphires) such items may be imported into the United States provided that the gemstones have been mounted or incorporated into jewellery outside of Burma and provided that the setting is not of a temporary nature (e.g. a string).

(d) Iranian origin property

Iranian origin ‘informational materials’ (including fine art by recognised artists and books and manuscripts) may be imported into the United States and purchased by US persons, but Iranian origin ‘works of conventional craftsmanship’ (works that are not by a recognised artist and/or that have a function) may not. If you are a US person, you are responsible for checking that you do not bid on prohibited Iranian origin property. US persons include US citizens and US permanent residents (‘greencard holders’) wherever these individuals are located, US entities and any other persons temporarily resident or located in the US.

(e) Gold

Gold of less than 18ct does not qualify in all countries as ‘gold’ and may be refused import into those countries as ‘gold’.

(f) Jewellery

Jewellery may require an export license subject to age and value criteria. Obtaining the necessary license may result in additional costs and subsequent delays. We can apply for on your behalf if you make a request for us to do so as part of the online check-out process.

(g) Watches

(i) Many of the watches offered for sale in the Sale Particulars have straps which may be made of endangered or protected animal materials such as alligator or crocodile. In most cases, these endangered species straps are not for sale, and we will remove and retain the strap prior to collection or shipment. You should check the lot description to determine whether a watch strap is for sale or is shown for display purposes only. Where an endangered species strap is for sale, you may need to obtain a CITES export permit to lawfully export the strap from the sale site. (ii) The importation of luxury watches such as Rolex into the United States is highly restricted. Such watches may not be shipped to the United States and can only be imported personally. Generally, a buyer may import only one watch into the United States at a time. In theSale Particulars, these watches have been marked with a Φ. This will not affect your responsibility to pay for the lot. For further information please contact our specialists in charge of the sale.

Please note that lots are marked as a convenience to you, but we do not accept liability for errors or for failing to mark lots.

H. OTHER IMPORTANT TERMS

1. YOUR LEGAL RIGHTS

(a) Christie’s offers internet services as a convenience to our clients, but Christie’s will not be responsible to you for errors 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 sale; (ii) a breakdown or problems with the online bidding software; and/or (iii) a breakdown or problems with any internet connection, computer, mobile device or system. Execution of on-line and mobile internet bids is a free service and Christie’s does not accept 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.

2. OUR LIABILITY TO YOU WHEN WE SELL A LOT WHICH IS NOT OWNED BY CHRISTIE’S

(a) We have no liability to you in relation to the seller’s warranties in paragraph E1 or in relation to any terms which are implied into contracts by law and which are the responsibility of the seller of an item.

(b) In any event, subject to paragraph H2(f), we shall have no liability to you for (i) any loss of profit, loss of business, business interruption, loss of business opportunity, loss of anticipated savings, loss of goodwill, loss of revenue or any wasted expenditure; or (ii) any indirect or consequential loss or damage whatsoever.

(c) Please be aware that condition reports, and currency converter are free services and we are not responsible to you for any error (human or otherwise), omission or breakdown in these services.

(d) Subject to paragraph H2(f), we have no responsibility to any person other than a buyer in connection with the purchase of any lot.

(e) If, in spite of the terms in paragraphs (a) to (d) above, we are found to be liable to you for any reason, subject to paragraph H2(f), our maximum aggregate liability to you pursuant to these Conditions of Sale and any related Sale Particulars shall be limited to the purchase price plus buyer’s premium paid by you to us.

(f) Nothing in these Conditions of Sale shall limit or exclude the liability of Christie’s for death or personal injury caused by its negligence, fraudulent misrepresentation or fraudulent concealment or for any other liability which cannot be limited or excluded by applicable law.

3. SELLER’S LIABILITY

(a) Please note that Christie’s will be the seller if it owns a lot; if it does not own a lot, it acts as agent for the seller and this paragraph H3 shall only relate to the liability of the third party seller of the lot. If Christie’s is the owner of a lot, this will be indicated in the Sale Particulars.

(b) Please note the exclusions of warranties set out in paragraph E3. Paragraph E3 limits the seller's liability to you.

(c) subject to paragraph H3(e), the seller’s maximum aggregate liability to you pursuant to these conditions of sale and any related Sale Particulars shall be limited to the purchase price paid by you to us.

(d) Subject to paragraph H3(e), the seller shall have no liability to you for any loss of profit, loss of business, business interruption, loss of business opportunity, loss of anticipated savings, loss of goodwill, loss of revenue or any wasted expenditure; or (ii) any indirect or consequential loss or damage whatsoever.

(e) Nothing in these Conditions of Sale shall limit or exclude the liability of the seller for death or personal injury caused by its negligence, fraudulent misrepresentation or fraudulent concealment or for any other liability which cannot be limited or excluded by applicable law.

(f) Notwithstanding the terms above in this paragraph H3, if Christie’s is the seller of the lot, Christie’s will have no liability to the buyer in respect of a lot whatsoever.

4. EVENTS OUTSIDE THE CONTROL OF CHRISTIE’S OR THE SELLER

Neither we, you, nor the seller will be responsible for any failure to meet any obligation which we you or the seller has under these Conditions of Sale or under the Sale Particulars which is caused by circumstances beyond our, your or the seller’s reasonable control. This includes, but is not limited to strikes, lock-outs fire, flood, natural disasters, war, armed conflict, terrorist attack and nuclear and chemical contamination.

5. OUR ABILITY TO CANCEL

In addition to the other rights of cancellation contained in this agreement, we can cancel a sale of a lot if we reasonably believe that completing the transaction is or may be unlawful or that the sale places us or the seller under any liability to anyone else or may damage our reputation.

6. COPYRIGHT

We or a third party own the copyright in all images, illustrations and written material produced by or for us relating to a lot (including the contents of our Sale Particulars). You cannot use them without our written permission. We do not offer any guarantee that you will gain any copyright or other reproduction rights to the lot.

7. ENFORCING THIS AGREEMENT

If a court finds that any part of this agreement is not valid, or is illegal or impossible to enforce, that part of the agreement will be treated as being deleted, and the rest of this agreement will not be affected.

8. TRANSFERRING YOUR RIGHTS AND RESPONSIBILITIES

You may not grant a security over or transfer your rights or responsibilities under these terms on the contract of sale with the buyer unless we have given our written permission. This agreement will be binding on your estate and anyone who takes over your rights and responsibilities.

9. TRANSLATIONS

If we have provided a translation of these conditions of sale, we will use the English language version in deciding any issues or disputes which arise under this agreement.

10. PERSONAL INFORMATION

We 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. Where necessary we will also pass on your personal information to The Terrence Higgins Trust.

All payments information relating to the sale is collected and processed directly by Global Collect Services B.V. ("Global Collect"), a third party Netherlands corporation, and not by Christies.

Global Collect may undertake fraud prevention reviews prior to processing any payment or as part of the payment process. Payment specific information which is submitted to Global Collect is processed on PCI compliant secure servers and in accordance to Global Collect’s PCI Compliance certification as found here: http://www.globalcollect.com/online-payments/certifications/ and privacy policy as found here: (http://www.globalcollect.com/Privacy-statement/). The information submitted and used for processing payments is as below:

- Name and contact details including shipping and billing addresses

- Credit Card information

- Total transaction value

- Your IP Address of which you are checking out from

Christie’s does not have access to, or retain any credit card or other payment information details.

11. WAIVER

No failure or delay to exercise any right or remedy provided under these conditions of sale shall constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall prevent or restrict the further exercise of that or any other right or remedy.

12. LAW AND DISPUTES

This agreement and any rights arising outside this agreement shall be governed by the laws of the state of New York. Before either we or you start any court proceedings (except in the limited circumstances where the dispute, controversy or claim is related to a lawsuit brought by a third party and this dispute could be joined to that proceeding) we shall consent to the mediation of any dispute following the mediation procedure of JAMS with a mediator affiliated with JAMS and mutually acceptable to each of us. Consent to mediation shall not be unreasonably withheld. If the dispute is not settled by mediation within 60 days from the date when mediation is initiated by either of us, then the dispute shall be referred to and finally resolved by arbitration in New York in accordance with the International Arbitration Rules of the International Center for Dispute Resolution ("ICDR") by one arbitrator appointed by the ICDR within 90 days after the initiation of the arbitration, who may order the production of documents only for good cause shown. The arbitration shall be confidential, except to the extent necessary to enforce a judgment or in accordance with a court order. The arbitration award shall be final and binding on both of us. You submit to jurisdiction in the state and federal courts located in New York County for the limited purpose of enforcing this agreement to arbitrate. This arbitration and any proceedings conducted hereunder shall be governed by Title 9 (Arbitration) of the United States Code and by the Convention on the Recognition and Enforcement of Foreign Arbitral Awards of June 10, 1958.

I. Conditions of Sale

1. REPORTING ON CHRISTIES.COM

Details of all lots sold by us, including Sale Particulars descriptions and prices, may be reported on christies.com. Auction sales totals are hammer price plus buyer’s premium and do not reflect costs, financing fees, or application of buyer’s or seller’s credits. We regret that we cannot agree to requests to remove these details from christies.com.

J. GLOSSARY

Asia: East Asia ((including China, (PRC), Hong Kong SAR, Macau SAR, Taiwan, Korea, Japan, Mongolia); South East Asia (including Singapore, Thailand, Vietnam, Laos, Cambodia, Malaysia, the Philippines, Indonesia, Burma, Brunei); or South Asia (including Bangladesh, India, Pakistan, Sri Lanka, Nepal, Bhutan, Afghanistan, the Maldives);

authentic: a genuine example, rather than a copy or forgery of:

(i) The work of a particular artist, author or manufacturer, if the lot is described in the title description (and not qualified) as the work of that artist, author or manufacturer;

(ii) A work created within a particular period or culture, if the lot is described in the title description (and not qualified) as a work created during that period or culture;

(iii) A work for a particular origin source if the lot is described in the title description (and not qualified) as being of that origin or source; or

(iv) In the case of gems, a work which is made of a particular material, if the lot is described in UPPERCASE as being made of that material.

Buy-Now: a facility which we may provide either for you to buy a lot during the course of an auction or until a fixed time, or for you to buy a lot which is not offered for sale as part of an auction, in either case at a fixed price.

Buy-Now price: the fixed price at which property may be offered for sale using the Buy-Now facility.

buyer’s premium: the charge the buyer pays us along with the hammer price.

Christie’s : the company within Christie’s Group and specified in the Sale Particulars which offers to sell a lot either as agent for the seller or as the owner of the lot

Christie’s Group: Christie’s International Plc, its subsidiaries and other companies within its corporate group.

condition: the physical condition of a lot.

Conditions of Sale: the Conditions of Sale set out above; our Explanations of Cataloguing Practice; the explanation of symbols used in the Sale Particulars; and the explanation of the application of VAT or other similar applicable sales taxes.

estimate: the price range included in the particulars of Sale within which we believe a lot may sell. low estimate means the lower figure in the range and high estimate means the higher figure. The mid estimate is the midpoint between the two.

hammer price: the amount of the highest bid for the sale of a lot via auction.

Heading : has the meaning given to it in paragraph E2.

lot: an item to be offered for sale at an online auction or Buy-Now sale (or two or more items to be offered at auction or Buy-Now sale as a group).

lot description: the description of a lot in the Sale Particulars for the sale, as amended by any notice given to you during the auction or Buy-Now sale.

online-only sale: a sale of a lot which is conducted solely by means of Christie’s online-only service sale platform.

online-only service: a platform and associated technical services accessible solely by online means which enables a buyer to bid for and buy lots through an auction or by using Buy-Now.

provenance: the ownership history of a lot.

Qualified has the meaning given to it in paragraph E2 and Qualified title descriptions means the section headed Qualified title descriptions on the page of the Sale Particulars headed “Explanation of Cataloguing Practice”.

reserve: the confidential amount below which we will not sell a lot.

Sale Particulars: the Lot information (the online description of the lot or lots offered for sale together with other information on the sale website relating to alot and the conduct of the sale); lot notes; payment information; any on-screen notices displayed as part of a sale; and any Special Conditions of Sale which apply to any lot or group of lots offered for sale at the same time;

seller: the owner of a lot; this may be either Christie’s or another owner for whom Christie’s acts as agent, as indicated in the Sale Particulars

Special Conditions of Sale: any additional conditions which apply to a sale and which are set out in the Sale Particulars

Super Authorised User: an individual authorized to execute transactions on behalf of an entity which has a registered transactional account

total amount due: has the meaning given to it in paragraph F 1 (a).

UPPER CASE type means having all capital letters.

warranty: a statement or representation in which the person making it guarantees that the facts set out in it are correct.

K - Vat Symbols and Explanation

VAT payable varies by symbol described below – as indicated by the symbol associated with a lot

No Symbol : We will use the Auctioneer’s Margin Scheme. No VAT will be charged on the hammer price.

Symbol VAT at 20% will be added to the buyer’s premium but will not be shown separately on our invoice.

(Books only: No VAT is payable on the hammer price or the buyer’s premium

† VAT will be charged at 20% on both the hammer price and buyer’s premium and shown separately on our invoice.

* These lots have been imported from outside the EU for sale and placed under the Temporary Admission regime. Import VAT is payable at 5% on the hammer price. VAT at 20% will be added to the buyer’s premium but will not be shown separately on our invoice.

Ω These lots have been imported from outside the EU for sale and placed under the Temporary Admission regime. Import VAT is payable at 20% on the hammer price. VAT at 20% will be added to the buyer’s premium but will not be shown separately on our invoice.

α • If you register to bid with an address within the EU you will be invoiced as though the lot had no VAT symbol (see No Symbol above)

• If you register to bid with an address outside of the EU you will be charged under normal VAT rules (see † symbol above)

# Books: We will use the Auctioneer’s Margin Scheme. No VAT is charged on the hammer price. VAT at 20% will be added to the buyer’s premium but will not be shown separately on our invoice.

‡ Wine: The wine is offered “in bond”. If you choose to buy the wine in bond no excise duty or clearance VAT will be charged. If you choose to buy the wine out of bond excise duty and clearance VAT will be added to your invoice. Whether you buy the wine in bond or out of bond, VAT will be added to the buyer’s premium but will not be shown separately on our invoice.

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VAT refunds: what can I reclaim?

1. Non VAT registered UK or EU buyer: No refund is possible

UK VAT registered buyer

No symbol, α and #: The VAT amount in the buyer’s premium cannot be refunded. However, on request we can reinvoice you under normal UK VAT rules (as if the lot had been sold with a † symbol) instead of the Auctioneer’s Margin Scheme. You can then reclaim the VAT charged through your own VAT return subject to HMRC’s rules.

† You can reclaim the VAT charged through your own VAT return subject to HMRC’s rules.

* and Ω You may be able to reclaim the Import VAT on the hammer price through your own VAT return with C79 issued by HMRC. The VAT amount in the buyer’s premium cannot be refunded. However, on request we can reinvoice you under normal UK VAT rules (as if the lot had been sold with a † symbol) instead of the Auctioneer’s Margin Scheme. You can reclaim the VAT charged through your own VAT return subject to HMRC’s rules.

2. EU VAT registered buyer

No Symbol, α and #: The VAT amount in the buyer’s premium cannot be refunded. However, on request we can reinvoice you under normal UK VAT rules (as if the lot had been sold with a † symbol) instead of the Auctioneer’s Margin Scheme. See below for the rules that would then apply.

† If you provide us with your EU VAT number we will not charge VAT on the buyer’s premium. We will also refund the VAT on the hammer price if you ship the lot from the UK, and provide us with proof of shipping, within 3 months of collection.

* and Ω The VAT amount in the buyer’s premium cannot be refunded. On request we can reinvoice you under normal UK VAT rules (as if the lot had been sold with a † symbol) instead of the Auctioneer’s Margin Scheme. See above for the rules that would then apply.

3. Non EU buyer

No Symbol and # We will refund the VAT amount in the buyer’s premium if you meet all of the conditions in note 3 below.

† and α VAT charged on the hammer price will be refunded if you meet all of the conditions ‡(wine only) in note 3 below. Trade clients who meet these conditions in full will also receive a refund of the VAT amount in the buyer’s premium. The VAT amount in the buyer’s premium cannot be refunded to non-trade clients.

* and Ω We will refund the Import VAT charged on the hammer price and the VAT amount in the buyer’s premium if you meet all of the conditions in note 3 below.

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Notes

1. We CANNOT offer refunds of VAT amounts or Import VAT to buyers who do not meet all applicable conditions in full. If you are unsure whether you will be entitled to a refund, please contact our VAT team at the address below before you bid.

2. No VAT amounts or Import VAT will be refunded where the total refund is under £100.

3. In order to receive a refund of VAT amounts/Import VAT (as applicable) non-EU buyers must:

(a) have registered to bid with an address outside of the EU; and

(b) export the lot from the EU within 30 days of collection for * and Ω lots and 3 months of collection for all other lots and immediately afterwards provide us with satis­factory proof of export.

4. Details of the documents which you must provide to us to show satisfactory proof of export/shipping are available from our VAT team at the address below. We charge a processing fee of £35.00 per invoice to check shipping/export docu­ments. We will waive this processing fee if you appoint Christie’s Shipping Department to arrange your export/shipping.

5. If you appoint Christie’s Art Transport or one of our authorised shippers to arrange your export/shipping we will issue you with an export invoice with any VAT or Import VAT which you would be entitled to have refunded upon export/shipping removed. If you later cancel this appointment we will issue a revised invoice charging you all applicable VAT charges.

6. If you ask us to reinvoice you under normal UK VAT rules (as if the lot had been sold with a † symbol) instead of under the Auctioneer’s Margin Scheme the lot may become ineligible to be resold using the Margin Schemes. You should take professional advice if you are unsure how this may affect you.

7. All reinvoicing requests must be received within 4 years from the date of sale.

If you have any questions about VAT refunds please contact Christie’s VAT

Department Email: VAT_london@christies.com, Tel: +44 (0)20 7389 2693. Fax: +44 (0)20 3219 6076.

Symbols used in Sale Particulars

The meaning of words in bold in this section can be found at the end of the Conditions of Sale

Δ Owned by Christie’s or another Christie’s Group company in whole or part.

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 catalogue with the symbol º next to the lot number. This symbol will be used 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. Where Christie’s has an ownership or financial interest in every lot in the catalogue, Christie’s will not designate each lot with a symbol, but will state its interest at the front of the catalogue. If property has º next to the lot number, Christie’s guarantee of a minimum price has been financed through third parties.

Λ Artist’s Resale Right. See paragraph D3 of the Conditions of Sale.

• Lot offered without reserve which will be sold to the highest bidder regardless of the pre-sale estimate in the Sale Particulars.

~ Lot incorporates material from endangered species which could result in export restrictions. See Section G2 of the Conditions of Sale.

Φ Lot which may not be able to be shipped to the US. See paragraph G 2(d) of the Conditions of Sale.

Ψ Lots containing jadeite and rubies from Burma or of indeterminate origin. See paragraph G 2(C) of the Conditions of Sale.