The following Conditions of Sale, as amended by any
published or posted notices or verbal announcements
during the sale, constitute the entire terms and conditions on
which property listed in the catalog shall be offered for sale
or sold by Bonhams Butterfields Auctioneers Corp. and
any consignor of such property for whom Bonhams acts as
agent. By participating in this sale, you agree to be bound by
these terms and conditions.
If live online bidding is available for the subject auction,
additional terms and conditions of sale relating to online
bidding will apply; see www.bonhams.com/WebTerms for the
supplemental terms. As used herein, “Bonhams,” “we” and
“us” refer to Bonhams and Butterfields Auctioneers Corp.
1. As used herein, the term “bid price” means the price
at which a lot is successfully knocked down to the buyer.
The term “purchase price” means the aggregate of (a) the
bid price, (b) a PREMIUM retained by us and payable by
the buyer (the “buyer’s premium”), EQUAL TO 27.5% OF
THE FIRST $12,500 OF THE BID PRICE, PLUS 25% OF
THE AMOUNT OF THE BID PRICE ABOVE $12,500 UP TO
AND INCLUDING $600,000, PLUS 20% OF THE AMOUNT
OF THE BID PRICE ABOVE $600,000 UP TO AND
INCLUDING $6,000,000, PLUS 14.5% OF THE AMOUNT
OF THE BID PRICE ABOVE $6,000,000, and (c) unless
the buyer is exempt by law from the payment thereof,
any Alabama, Arizona, California, Colorado, Connecticut,
Florida, Georgia, Hawaii, Idaho, Illinois, Iowa, Indiana,
Kentucky, Louisiana, Maine, Maryland, Massachusetts,
Michigan, Minnesota, Mississippi, Nebraska, Nevada,
New Jersey, New York, North Carolina, Ohio, Oklahoma,
Pennsylvania, Rhode Island, South Carolina, Texas, Utah,
Virginia, Washington, D.C., Washington state, West Virginia,
Wisconsin, Wyoming or other state or local sales tax (or
compensating use tax) and other applicable taxes. With
regard to New York sales tax, please refer to the “Sales and
Use Tax” section of these Conditions of Sale.
2. In order to bid at the sale, prospective bidders
must submit to Bonhams a completed bidder registration
form (appearing at the end of this catalog) and any other
requested information or references. New bidders and
bidders who have not recently updated their registration
information must pre-register to bid at least two business
days before the sale. Individuals will be required to provide
government-issued proof of identity and proof of address.
Entity clients will be required to provide documentation
including confirmation of entity registration showing the
registered name, confirmation of registered address,
documentary proof of officers and beneficial owners, proof of
authority to transact on behalf of the entity and governmentissued proof of identity for the individual who is transacting on
the entity’s behalf.
We may also request a financial reference and /or deposit
from bidders before approving the bidder registration. In the
event a deposit is submitted and you are not the successful
bidder, your deposit will be returned to you. If you are the
successful bidder, any such deposit will be credited to offset
the appropriate portion of the purchase price.
We reserve the right to request further information, including
regarding the source of funds, in order to complete
bidder identification and registration procedures (including
completing any anti-money laundering and/or anti-terrorism
financing checks we may require) to our satisfaction. If our
bidder identification and registration procedures are not
satisfied, we may, in our sole discretion, decline to register
any bidder or reject any bid or cancel any sale to such bidder.
Every bidder shall be deemed to act as a principal unless
prior to the commencement of the sale there is a written
acceptance by Bonhams of a bidder registration form
completed and signed by the principal which clearly states
that the authorized bidding agent is acting on behalf of
the named principal. Absent such written acceptance by
Bonhams, any person placing a bid as agent on behalf of
another (whether or not such person has disclosed that fact
or the identity of the principal) may be jointly and severally
liable with the principal under any contract resulting from the
acceptance of a bid. Every bidder shall be responsible for
any use of its assigned paddle or bidding account, regardless
of the circumstances.
3. You represent and warrant that: (i) you have provided
us with true and correct copies of valid identification
and proof of residence and, if applicable, financial and/
or corporate documents; (ii) neither you, your principal (if
applicable, and subject to Bonhams’ prior written acceptance
pursuant to paragraph 2 above), nor any individual or entity
with a beneficial or ownership interest in either or in the
purchase transaction is on the Specially Designated Nationals
List maintained by the Office of Foreign Assets Control of the
U.S. Department of the Treasury nor subject to any other
sanctions or embargo program or regulation in effect in the
United States, European Union, England and Wales, or other
applicable jurisdictions; (iii) if you are acting as an agent for a
principal, you have conducted appropriate due diligence into
such principal, and agree that Bonhams shall be entitled to
rely upon such due diligence, you will retain adequate records
evidencing such due diligence for a period of five (5) years
following the consummation of the sale, and will make these
records available for inspection upon Bonhams’ request;
(vi) neither the purchase transaction (including your bidding
activity) nor the purchase funds are connected with nor
derive from any criminal activity, and they are not designed to
nor have they or shall they, violate the banking, anti-money
laundering, or currency transfer laws or other regulations
(including without limitation, import-export laws) of any
country or jurisdiction, or further any other unlawful purpose,
including without limitation collusion, anti-competitive activity,
tax evasion or tax fraud.
You acknowledge and agree that we may rely upon the
accuracy and completeness of the foregoing warranties.
4. On the fall of the auctioneer’s hammer, the highest
bidder shall have purchased the offered lot in accordance
and subject to compliance with all of the conditions set forth
herein and (a) assumes full risk and responsibility therefor, (b)
if requested will sign a confirmation of purchase, and (c) will
pay the purchase price in full or such part as we may require
for all lots purchased. No lot may be transferred.
Unless otherwise agreed, payment in good, cleared funds is
due and payable within five (5) business days following the
auction sale. Whenever the buyer pays only a part of the
total purchase price for one or more lots purchased, we may
apply such payments, in our sole discretion, to the lot or lots
we choose. Payment will not be deemed made in full until
we have received good, cleared funds for all amounts due.
Title in any purchased property will not pass until full and final
payment has been received by Bonhams. Accounts must be
settled in full before property is released to the buyer. In the
event property is released earlier, such release will not affect
the passing of title or the buyer’s obligation to timely remit full
payment.
We reserve the right to refuse to accept payment from a
source other than the registered bidder or buyer of record.
Once an invoice is issued, we cannot change the buyer’s
name on an invoice.
Payment for purchases must be made in the currency in
which the sale is conducted. Bonhams’ preferred payment
method is by wire transfer. For final purchases exceeding US
$25,000.00, all payments must be in the form of wire transfer
unless other arrangements have been approved in advance.
For final purchases below US $25,000.00, payment may also
be made in or by the following methods:
(i) Cash. Please note that the amount of cash that can be
accepted from a given purchaser is limited to US $5,000 per
auction sale (whether by single or multiple related payments).
If the amount payable exceeds that sum, the balance must
be paid by another method.
(ii) Cashier’s check, money order, or personal check with
approved credit drawn on a U.S. bank. A processing fee will
be assessed on any returned checks.
(iii) Visa, MasterCard, American Express or Discover debit
or credit card issued in the name of the purchaser or record.
Only one debit or credit card may be used for payment of
an account balance. This method of payment may not be
available to first time purchasers.
To the fullest extent permitted by applicable law, the buyer
grants us a security interest in the property, and we may
retain as collateral security for the buyer’s obligations to us,
any property and all monies held or received by us for the
account of the buyer, in our possession. We also retain all
rights of a secured party under the Uniform Commercial
Code (which shall mean the New York Uniform Commercial
Code, except where the Uniform Commercial Code of
another state governs the perfection of a security interest
in collateral located in that state), and you agree that we
may file financing statements without your signature. If the
foregoing conditions or any other applicable conditions
herein are not complied with, in addition to all other remedies
available to us and the consignor by law, we may at our
election: (a) hold the buyer liable for the full purchase price
and any late charges, collection costs, attorneys’ fees and
costs, expenses and incidental damages incurred by us or
the consignor arising out of the buyer’s breach; (b) cancel
the sale, retaining as liquidated damages all payments made
by the buyer; and/or (c) cancel the sale and/or resell the
purchased property, at public auction and/or by private sale,
and in such event the buyer shall be liable for the payment
of all consequential damages, including any deficiencies or
monetary losses, and all costs and expenses of such sale
or sales, our commissions at our standard rates, all other
charges due hereunder, all late charges, collection costs,
attorneys’ fees and costs, expenses and incidental damages.
In addition, where two or more amounts are owed in respect
of different transactions by the buyer to us, to Bonhams
1793 Limited and/or to any of our other affiliates, subsidiaries
or parent companies worldwide within the Bonhams Group,
we reserve the right to apply any monies paid in respect of
a transaction to discharge any amount owed by the buyer.
If all fees, commissions, premiums, bid prices and other
sums due to us from the buyer are not paid promptly as
provided in these Conditions of Sale, we reserve the right
to impose a finance charge equal to 1.5% per month (or, if
lower, the maximum nonusurious rate of interest permitted
by applicable law), on all amounts due to us beginning on
the 31st day following the sale until payment is received, in
addition to other remedies available to us by law.
5. We reserve the right to withdraw any property and to
divide and combine lots at any time before such property’s
auction. Unless otherwise announced by the auctioneer
at the time of sale, all bids are per lot as numbered in the
catalog and no lots shall be divided or combined for sale.
6. We reserve the right to reject a bid from any bidder,
to split any bidding increment, and to advance the bidding
in any manner the auctioneer may decide. In the event of
any dispute between bidders, or in the event the auctioneer
doubts the validity of any bid, the auctioneer shall have sole
and final discretion either to determine the successful bidder,
re-open the bidding, or to cancel the sale and re-offer and
resell the article in dispute. If any dispute arises after the sale,
our sales records shall be conclusive in all respects.
We further reserve the right to cancel the sale of any
property if (i) you are in breach of your representations and
warranties as set forth in paragraph 3 above; (ii) we, in our
sole discretion, determine that such transaction might be
unlawful or might subject Bonhams or the consignor to any
liability to any third party; or (iii) there are any other grounds
for cancellation under these Conditions of Sale.
7. If we are prevented by fire, theft or any other reason
whatsoever from delivering any property to the buyer or a
sale otherwise cannot be completed, our liability shall be
limited to the sum actually paid therefor by the buyer and
shall in no event include any compensatory, incidental or
consequential damages.
8. All lots in the catalog are offered subject to a reserve
unless otherwise indicated in the catalog. The reserve is the
Conditions of sale
NY/MAIN/17.2021
Conditions of sale - continued
confidential minimum bid price at which such lot will be sold
and it does not to exceed the low estimate value for the lot. If
a lot is offered subject to a reserve, we may implement such
reserve by bidding on behalf of the consignor, whether by
opening bidding or continuing bidding in response to other
bidders until reaching the reserve. If we have an interest in
an offered lot and the proceeds therefrom other than our
commissions, we may bid up to the reserve to protect such
interest. If the auctioneer determines that any opening or
subsequent bid is below the reserve for a lot, (s)he may
reject such opening bid and withdraw the item from sale.
CONSIGNORS ARE NOT ALLOWED TO BID ON THEIR
OWN ITEMS.
9. Other than as provided in the Limited Right of
Rescission with respect to identification of authorship, all
property is sold “AS IS” and any statements contained in the
catalog or in any advertisement, bill of sale, announcement,
condition report, invoice or elsewhere as to period, culture,
source, origin, media, measurements, size, quality, rarity,
provenance, importance, exhibition and literature of historical
relevance, merchantability, fitness for a particular purpose,
or physical condition ARE QUALIFIED STATEMENTS OF
OPINION AND NOT REPRESENTATIONS, WARRANTIES,
OR ASSUMPTION OF LIABILITY. Neither Bonhams nor the
consignor shall be responsible for any error or omission in the
catalog description of any property. No employee or agent of
Bonhams is authorized to make on our behalf or on that of
the consignor any representation or warranty, oral or written,
with respect to any property.
10. All purchased property shall be removed from the
premises at which the sale is conducted by the date(s) and
time(s) set forth in the “Buyer’s Guide” portion of this catalog.
If not so removed, daily storage fees will be payable to us
by the buyer as set forth therein. We reserve the right to
transfer property not so removed to an offsite warehouse at
the buyer’s risk and expense, as set forth in more detail in the
“Buyer’s Guide.” Packing and handling of purchased lots are
the responsibility of the buyer and at the buyer’s entire risk, as
are the identification, application for, and cost(s) of obtaining
of any necessary export, import, restricted material (e.g.
endangered species) or other permit for such lots.
For an additional fee, Bonhams may provide packing and
shipping services for certain items as noted in the “Buyer’s
Guide” section of the catalog.
11. The copyright in the text of the catalog and the
photographs, digital images and illustrations of lots in the
catalog belong to Bonhams or our licensors. You will not
reproduce or permit anyone else to reproduce such text,
photographs, digital images or illustrations without our prior
written consent. Bonhams and the consignor make no
representation or warranty as to whether the buyer acquires
any copyrights on the purchase of an item of Property.
12. Bonhams may, in our discretion, as a courtesy
and free of charge, execute bids on your behalf if so
instructed by you, provided that neither Bonhams nor our
employees or agents will be liable for any error or default
(whether human or otherwise) in doing so or for failing to
do so. Without limiting the foregoing, Bonhams (including
our agents and employees) shall not be responsible for
any problem relating to telephone, online, or other bids
submitted remotely through any means, including without
limitation, any telecommunications or internet fault or
failure, or breakdown or problems with any devices or
online platforms, including third-party online platforms,
regardless of whether such issue arises with our, your, or
such third-party’s technology, equipment, or connection.
By participating at auction by telephone or online, bidders
expressly consent to the recording of their bidding sessions
and related communications with Bonhams and our
employees and agents, and acknowledge their acceptance
of these Conditions of Sale as well as any additional terms
and conditions applicable to any such bidding platform or
technology.
13. These Conditions of Sale shall bind the successors
and assigns of all bidders and buyers and inure to the benefit
of our successors and assigns. No waiver, amendment
or modification of the terms hereof (other than posted
notices or oral announcements during the sale) shall bind
us unless specifically stated in writing and signed by us. No
act or omission of Bonhams, its employees or agents, nor
any failure thereof to exercise any remedy hereunder, shall
operate or be deemed to operate as a waiver of Bonhams’
rights under these Conditions of Sale. If any part of these
Conditions of Sale is for any reason invalid or unenforceable,
the rest shall remain valid and enforceable.
14. These Conditions of Sale and the buyer’s and our
respective rights and obligations hereunder shall be governed
by and construed and enforced in accordance with the
laws of the State of New York. Any dispute, controversy
or claim arising out of or relating to this agreement, or the
breach, termination or validity thereof, brought by or against
Bonhams (but not including claims brought against the
consignor by the buyer of lots consigned hereunder) shall be
resolved by the procedures set forth below.
15. You accept and agree that Bonhams will hold and
process your personal information and may share and use
it as required by law and as described in, and in line with
Bonhams’ Privacy Policy, available at website at www.
bonhams.com/legals/. If you desire access, update, or
restriction to the use of your personal information, please
email data.protection@bonhams.com.
SALES AND USE TAX
New York sales tax is charged on the hammer price, buyer’s
premium and any other applicable charges on any property
collected or delivered in New York State, regardless of the
state or country in which the buyer resides or does business.
Buyers who make direct arrangements for collection by a
shipper who is considered a “private” or “contract” carrier by
the New York Department of Taxation and Finance will be
charged New York sales tax, regardless of the destination of
the property. Property collected for delivery to a destination
outside of New York by a shipper who is considered a
“common carrier” by the New York Department of Taxation
and Finance (e.g. United States Postal Service, United Parcel
Service, and FedEx) is not subject to New York sales tax, but
if it is delivered into any state in which Bonhams is registered
or otherwise conducts business sufficient to establish a
nexus, Bonhams may be required by law to collect and remit
the appropriate sales tax in effect in such state. Property
collected for delivery outside of the United States by a freightforwarder who is registered with the Transportation Security
Administration (“TSA”) is not subject to New York sales tax.
MEDIATION AND ARBITRATION PROCEDURES
(a) Within 30 days of written notice that there is a
dispute, the parties or their authorized and empowered
representatives shall meet by telephone and/or in person
to mediate their differences. If the parties agree, a mutually
acceptable mediator shall be selected and the parties will
equally share the fees and expenses of mediation. The
mediator shall be a retired judge or an attorney familiar with
commercial law and trained in or qualified by experience in
handling mediations. Any communications made during the
mediation process shall not be admissible in any subsequent
mediation, arbitration or judicial proceeding. All proceedings
and any resolutions thereof shall be confidential, and the
terms governing arbitration set forth in paragraph (c) below
shall govern.
(b) If mediation does not resolve all disputes between
the parties, or in any event no longer than 60 days after
receipt of the written notice of dispute referred to above, the
parties shall submit the dispute for binding arbitration before
a single neutral arbitrator. Such arbitrator shall be a retired
judge or an attorney familiar with commercial law and trained
in or qualified by experience in handling arbitrations. Such
arbitrator shall make all appropriate disclosures required by
law. The arbitrator shall be drawn from a panel of a national
or international arbitration service agreed to by the parties,
and shall be selected as follows: (i) If the arbitration service
has specific rules or procedures, those rules or procedures
shall be followed; (ii) If the arbitration service does not have
rules or procedures for the selection of an arbitrator, the
arbitrator shall be an individual jointly agreed to by the parties.
If the parties cannot agree on an arbitration service, the
arbitration shall be conducted by Judicial Arbitration and
Mediation Services, Inc. (“JAMS”) or another national or
international alternative dispute resolution (“ADR”) provider
of Bonhams’ choice, and the arbitrator shall be selected in
accordance with JAMS’ Streamlined Arbitration Rules and
Procedures or the rules of the other ADR provider selected
by Bonhams. The arbitrator’s award shall be in writing and
shall set forth findings of fact and legal conclusions.
(c) Unless otherwise agreed to by the parties or provided
by the published rules of the arbitration service:
(i) The arbitration shall occur within 60 days following
the selection of the arbitrator;
(ii) The arbitration shall be conducted in New York,
New York; and
(iii) Discovery and the procedure for the arbitration
shall be as follows:
A. All arbitration proceedings shall be confidential;
B. The parties shall submit written briefs to
the arbitrator no later than 15 days before the
arbitration commences;
C. Discovery, if any, shall be limited as follows:
(I) Requests for no more than 10 categories of
documents, to be provided to the requesting
party within 14 days of written request therefor;
(II) No more than two (2) depositions per party,
provided however, the deposition(s) are to be
completed within one (1) day; (III) Compliance
with the above shall be enforced by the arbitrator
in accordance with New York law;
D. Each party shall have no longer than eight (8)
hours to present its position. The entire hearing
before the arbitrator shall not take longer than three
(3) consecutive days;
E. The award shall be made in writing no more
than 30 days following the end of the proceeding.
Judgment upon the award rendered by the
arbitrator may be entered by any court having
jurisdiction thereof.
To the fullest extent permitted by law, and except as required
by applicable arbitration rules, each party shall bear its own
attorneys’ fees and costs in connection with the proceedings
and shall share equally the fees and expenses of the
arbitration.
LIMITED RIGHT OF RESCISSION
If within one (1) year from the date of sale, the original buyer
(a) gives written notice to us alleging that the identification
of Authorship (as defined below) of such lot as set forth in
the UPPERCASE TYPE heading of the catalog description
of such lot (as amended by any saleroom notices or verbal
announcements during the sale) is not substantially correct
based on a fair reading of the catalog (including the terms of
any glossary contained therein), and (b) within 10 days after
such notice returns the lot to us in the same condition as
at the time of sale, and (c) establishes the allegation in the
notice to our satisfaction (including by providing one or more
written opinions by recognized experts in the field, as we may
reasonably require), then the sale of such lot will be rescinded
and, unless we have already paid to the consignor monies
owed him in connection with the sale, the original purchase
price will be refunded.
If, prior to receiving such notice from the original buyer
alleging such defect, we have paid the consignor monies
owed him in connection with the sale, we shall pay the
original buyer the amount of our commissions, any other
sale proceeds to which we are entitled and applicable taxes
received from the buyer on the sale and make demand on
the consignor to pay the balance of the original purchase
price to the original buyer. Should the consignor fail to pay
such amount promptly, we may disclose the identity of
NY/MAIN/17.2021
NY/MAIN/17.2021
CONSIGNING YOUR PROPERTY
After you receive an estimate, you may consign your property
to us for sale in the next appropriate auction. Our staff assists
you throughout the process, arranging transportation of your
items to our galleries (at the consignor’s expense), providing
a detailed inventory of your consignment, and reporting the
prices realized for each lot. We provide secure storage for
your property in our warehouses and all items are insured
throughout the auction process. You will receive payment for
your property approximately 35 days after completion of sale.
Sales commissions vary with the potential auction value of
the property and the particular auction in which the property
is offered. Please call us for commission rates.
PROFESSIONAL APPRAISAL SERVICES
Bonhams’ specialists conduct insurance and fair market
value appraisals for private collectors, corporations,
museums, fiduciaries and government entities on a daily
basis. Insurance appraisals, used for insurance purposes,
reflect the cost of replacing property in today’s retail market.
Fair market value appraisals are used for estate, tax and
family division purposes and reflect prices paid by a willing
buyer to a willing seller.
When we conduct a private appraisal, our specialists will
prepare a thorough inventory listing of all your appraised
property by category. Valuations, complete descriptions and
locations of items are included in the documentation.
Appraisal fees vary according to the nature of the collection,
the amount of work involved, the travel distance, and
whether the property is subsequently consigned for auction.
Our appraisers are available to help you anywhere and at
any time. Please call our Client Services Department to
schedule an appraisal.
ESTATE SERVICES
Since 1865, Bonhams has been serving the needs of
fiduciaries – lawyers, trust officers, accountants and
executors – in the disposition of large and small estates.
Our services are specially designed to aid in the efficient
appraisal and disposition of fine art, antiques, jewelry, and
collectibles. We offer a full range of estate services, ranging
from flexible financial terms to tailored accounting for
heirs and their agents to world-class marketing and sales
support.
For more information or to obtain a detailed Trust and
Estates package, please visit our website at www.
bonhams.com/us or contact our Client Services
Department.
SELLING AT AUCTION
Bonhams can help you every step of the way when you are
ready to sell art, antiques and collectible items at auction.
Our regional offices and representatives throughout the US
are available to service all of your needs. Should you have
any further questions, please visit our website at www.
bonhams.com/us for more information or call our Client
Services Department at +1 (212) 644 9001.
AUCTION ESTIMATES
The first step in the auction process is to determine the
auction value of your property. Bonhams’ world-renowned
specialists will evaluate your special items at no charge and
in complete confidence. You can obtain an auction estimate
in many ways:
? Attend one of our Auction Evaluation Events held regularly
at our galleries and in other major metropolitan areas. The
updated schedule for Bonhams Auction Evaluation Events
is available at www.bonhams.com/us.
? Call our Client Services Department to schedule a private
appointment at one of our galleries. If you have a large
collection, our specialists can travel, by appointment, to
evaluate your property on site.
? Send clear photographs to us of each individual item,
including item dimensions and other pertinent information
with each picture. Photos should be sent to Bonhams’
address in envelopes marked as “photo auction estimate”.
Alternatively, you can submit your request using our online
form at www.bonhams.com/us. Digital images may be
attached to the form. Please limit your images to no more
than five (5) per item.
Seller’s guide
the consignor and assign to the original buyer our rights
against the consignor with respect to the lot the sale of
which is sought to be rescinded. Upon such disclosure and
assignment, any liability of Bonhams as consignor’s agent
with respect to said lot shall automatically terminate.
The foregoing limited right of rescission is available to the
original buyer only and may not be assigned to or relied
upon by any subsequent transferee of the property sold.
The buyer hereby accepts the benefit of the consignor’s
warranty of title and other representations and warranties
made by the consignor for the buyer’s benefit. Nothing in
this section shall be construed as an admission by us of
any representation of fact, express or implied, obligation or
responsibility with respect to any lot. THE BUYER’S SOLE
AND EXCLUSIVE REMEDY AGAINST BONHAMS FOR
ANY REASON WHATSOEVER IS THE LIMITED RIGHT OF
RESCISSION DESCRIBED IN THIS SECTION.
“Authorship” means only the identity of the creator, the
period, culture and source or origin of the lot, as the case
may be, as set forth in the UPPERCASE TYPE heading
of the print catalog entry. The right of rescission does not
extend to: (a) works of art executed before 1870 (unless
these works are determined to be counterfeits created since
1870), as this is a matter of current scholarly opinion which
can change; (b) titles, descriptions, or other identification of
offered lots, which information normally appears in lower
case type below the UPPERCASE TYPE heading identifying
the Authorship; (c) Authorship of any lot where it was
specifically mentioned that there exists a conflict of specialist
or scholarly opinion regarding the Authorship of the lot at the
time of sale; (d) Authorship of any lot which as of the date
of sale was in accordance with the then generally-accepted
opinion of scholars and specialists regarding the same; or
(e) the identification of periods or dates of creation in catalog
descriptions which may be proven inaccurate by means of
scientific processes that are not generally accepted for use
until after publication of the catalog in which the property is
offered or that were unreasonably expensive or impractical
to use at the time of such publication.
LIMITATION OF LIABILITY
EXCEPT AS EXPRESSLY PROVIDED ABOVE, ALL
PROPERTY IS SOLD “AS IS.” NEITHER BONHAMS NOR
THE CONSIGNOR MAKES ANY REPRESENTATION
OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE
MERCHANTABILITY, FITNESS OR CONDITION OF
THE PROPERTY OR AS TO THE CORRECTNESS
OF DESCRIPTION, GENUINENESS, ATTRIBUTION,
PROVENANCE OR PERIOD OF THE PROPERTY
OR AS TO WHETHER THE BUYER ACQUIRES ANY
COPYRIGHTS OR OTHER INTELLECTUAL PROPERTY
RIGHTS IN LOTS SOLD OR AS TO WHETHER A WORK
OF ART IS SUBJECT TO THE ARTIST’S MORAL RIGHTS
OR OTHER RESIDUAL RIGHTS OF THE ARTIST. THE
BUYER EXPRESSLY ACKNOWLEDGES AND AGREES
THAT IN NO EVENT SHALL BONHAMS BE LIABLE FOR
ANY DAMAGES INCLUDING, WITHOUT LIMITATION, ANY
COMPENSATORY, INCIDENTAL OR CONSEQUENTIAL
DAMAGES. IN NO EVENT SHALL THE AGGREGATE
LIABILITY OF BONHAMS AND ITS CONSIGNOR TO
A PURCHASER EXCEED THE PURCHASE PRICE
ACTUALLY PAID FOR A DISPUTED ITEM OF PROPERTY.
Conditions of sale - continued
NY/MAIN/17.2021
Buyer’s guide
BUYING AND BIDDING AT AUCTION
Whether you are an experienced bidder or an enthusiastic
novice, auctions provide a stimulating atmosphere unlike any
other. Bonhams previews and sales are free and open to the
public. As you will find in these directions, bidding and buying
at auction is easy and exciting. Should you have any further
questions, please visit our website at www.bonhams.com or
call our Client Services Department at +1 (212) 644 9001.
Catalogs
Before each auction we publish illustrated catalogs. Our
catalogs provide descriptions and estimated values for each
“lot.” A lot may refer to a single item or to a group of items
auctioned together. The catalogs also include the dates
and the times for the previews and auctions. We offer our
catalogs by subscription or by single copy. For information on
subscribing to our catalogs, you may refer to the subscription
form in this catalog, call our Client Services Department, or
visit our website at www.bonhams.com/us.
Previews
Auction previews are your chance to inspect each lot prior to
the auction. We encourage you to look closely and examine
each object on which you may want to bid so that you will
know as much as possible about it. Except as expressly set
forth in the Conditions of Sale, items are sold “as is” and
with all faults; illustrations in our catalogs, website and other
materials are provided for identification only. At the previews,
our staff is always available to answer your questions and
guide you through the auction process. Condition reports may
be available upon request.
Estimates
Bonhams catalogs include low and high value estimates
for each lot, exclusive of the buyer’s premium and tax. The
estimates are provided as an approximate guide to current
market value based primarily on previous auction results
for comparable pieces, and should not be interpreted as a
representation or prediction of actual selling prices. They
are determined well in advance of a sale and are subject to
revision. Please contact us should you have any questions
about value estimates.
Reserve
All lots in a catalog are subject to a reserve unless otherwise
indicated. The reserve is the minimum price that the seller
is willing to accept for a lot. This amount is confidential and
does not exceed the low estimated value.
Auction House’s Interest in Property Offered at Auction
On occasion, Bonhams may offer property in which it has
an ownership interest in whole or in part or otherwise has an
economic interest. Such property, if any, is identified in the
catalog with a ▲ symbol next to the lot number(s). Bonhams
may also offer property for a consignor that has been
guaranteed a minimum price for its property by Bonhams
or jointly by Bonhams and a third party. Bonhams and any
third parties providing a guarantee may benefit financially if
the guaranteed property is sold successfully and may incur
a financial loss if its sale is not successful. Such property, if
any, is identified in the catalog with a symbol next to the lot
number(s).
Bidding at Auction
At Bonhams, you can bid in many ways: in person, via
absentee bid, over the phone, or via Bonhams’ live online
bidding facility. Absentee bids can be submitted in person,
online, or via email. Irrespective of previous bidding activity
a valid Bonhams client account is required to participate in
bidding activity. You will be required to provide governmentissued proof of identity and residence, and if you are a
company, your certificate of incorporation or equivalent
documentation with your name and registered address,
government issued proof of your current address, documentary
proof of your beneficial owners and directors, and proof of
authority to transact. By bidding at auction, whether in person
or by agent, by absentee bid, telephone, online or other means,
the buyer or bidder agrees to be bound by the Conditions of
Sale. Lots are auctioned in consecutive numerical order as
they appear in the catalog. Bidding normally begins below the
low estimate. The auctioneer will accept bids from interested
parties present in the saleroom, from telephone bidders, and
from absentee bidders who have left written bids in advance of
the sale. The auctioneer may also execute bids on behalf of the
consignor up to the amount of the reserve, but never above it.
We assume no responsibility for failure to execute bids for any
reason whatsoever.
In Person
If you are planning to bid at auction for the first time, you will
need to register at the reception desk in order to receive a
numbered bid card. To place a bid, hold up your card so that
the auctioneer can clearly see it. Decide on the maximum
auction price that you wish to pay, exclusive of buyer’s
premium and tax, and continue bidding until your bid prevails
or you reach your limit. If you are the successful bidder on a
lot, the auctioneer will acknowledge your paddle number and
bid amount.
Absentee Bids
As a service to those wishing to place bids, we may at our
discretion accept bids without charge in advance of auction
online or in writing on bidding forms available from us. “Buy”
bids will not be accepted; all bids must state the highest bid
price the bidder is willing to pay. Our auction staff will try to
bid just as you would, with the goal of obtaining the item at
the lowest bid price possible. In the event identical bids are
submitted, the earliest bid submitted will take precedence.
Absentee bids shall be executed in competition with other
absentee bids, any applicable reserve, and bids from other
auction participants. A friend or agent may place bids on
your behalf, provided that we have received your written
authorization prior to the sale. Absentee bid forms are
available in our catalogs, online at www.bonhams.com/
us, at offsite auction locations and at our Los Angeles, San
Francisco and New York galleries.
By Telephone
We can arrange for you to bid by telephone. To arrange for a
telephone bid, please contact our Client Services Department
a minimum of 24 hours prior to the sale.
Online
We offer live online bidding for most auctions and accept
absentee bids online for all our auctions. Please visit
www.bonhams.com/us for details.
Bid Increments
Bonhams generally uses the following increment multiples as
bidding progresses:
$50-200.............................................by $10s
$200-500...........................................by $20/50/80s
$500-1,000........................................by $50s
$1,000-2,000.....................................by $100s
$2,000-5,000.....................................by $200/500/800s
$5,000-10,000…...............................by $500s
$10,000-20,000.................................by $1,000s
$20,000-50,000.................................by $2,000/5,000/8,000s
$50,000-100,000...............................by $5,000s
$100,000-200,000.............................by $10,000s
above $200,000.................................at auctioneer’s
discretion
The auctioneer may split or reject any bid at any time
at his or her discretion as outlined in the Conditions of
Sale.
Currency Converter
Solely for the convenience of bidders, a currency converter
may be provided at Bonhams’ auctions. The rates quoted for
conversion of other currencies to U.S. Dollars are indications
only and should not be relied upon by a bidder, and neither
Bonhams nor its agents shall be responsible for any errors
or omissions in the operation or accuracy of the currency
converter.
Buyer’s Premium
A buyer’s premium is added to the winning bid price of
each individual lot purchased, at the rates set forth in the
Conditions of Sale. The winning bid price plus the premium
constitute the purchase price for the lot. Applicable sales
taxes are computed based on this figure, and the total
becomes your final purchase price.
Unless specifically illustrated and noted, fine art frames are
not included in the estimate or purchase price. Bonhams
accepts no liability for damage or loss to frames during
storage or shipment.
All sales are final and subject to the Conditions of Sale found
in our catalogs, on our website, and available at the reception
desk.
Payment
Payment may be made to Bonhams by cash, checks
drawn on a U.S. bank, money order, wire transfer, or by
Visa, MasterCard, American Express or Discover credit or
charge card or debit card. All items must be paid for within
5 business days of the sale. Please note that payment by
personal or business check may result in property not being
released until purchase funds clear our bank. For payments
sent by mail, please remit to Bonhams Client Services
Department, 580 Madison Ave, New York, NY 10022.
Sales Tax
Residents of states listed in Paragraph 1 of the Conditions
of Sale must pay applicable sales tax. Other state or local
taxes (or compensation use taxes) may apply. Sales tax will
be automatically added to the invoice unless a valid resale
number has been furnished or the property is shipped via
common carrier to destinations outside the states listed in
the Conditions of Sale. If you wish to use your resale license
please contact Client Services for our form.
Collection of Purchases
Scheduling an appointment and payment in full prior to arrival
will facilitate the quick release of your property. If you are
sending a third-party to collect, please provide details to our
Client Services Department at invoices.us@bonhams.com
prior to your scheduled pickup or we will be unable to release
your property.
For your convenience, pre-allocated 30-minute collection time
slots are available Monday through Friday between 9am –
4:30pm. To schedule collection of purchases, please contact
our Client Services Department on +1 (212) 644 9001.
Shipping and Removal
Bonhams can accommodate shipping for certain items. If you
wish to receive a Bonhams Shipping quote, please confirm as
such at the time of registration. Carriers are not permitted to
deliver to PO boxes.
International buyers are responsible for all import/export
customs duties and taxes. An invoice stating the actual
purchase price will accompany all international purchases.
Handling and Storage Charges
Storage charges of $5 per lot, per day will begin accruing for
any lots not collected within 14 calendar days of the auction.
Bonhams reserve the right to remove uncollected sold lots to
the warehouse of our choice at the buyer’s risk and expense.
Further transfer, handling, storage and full value protection
fees will apply if move to a warehouse of our choice.
Comments in the catalog descriptions about
condition are general in nature and are subject to
the “as is” clause in our Conditions of Sale printed
in this catalog. Condition reports are available upon
request from the Department and are strongly
recommended for all buyers who cannot view the
property in person.
REGULATED SPECIES MATERIALS
AND CITES PERMITS
The export of a lot from the United States or
import into certain countries may be subject to
export or import regulations, licensure and/or
other restrictions; in particular, lots containing plant
or animal materials such as tortoiseshell, coral,
whalebone or certain types of woods, irrespective
of age or value, may require the granting of one or
more export or import licenses or certificates, or
may be banned from import altogether by some
countries. Moreover, the ability to obtain an export
license or certificate does not insure the ability to
obtain an import license or certificate in another
country. Lots that contain such regulated species
materials may also not be eligible for exportation or
for re-importation into the United States if they are
not at least 100 years of age. In addition, resales of
lots containing certain regulated species materials
may be subject to restrictions in some jurisdictions.
Lots noted in the catalog with a Y next to the lot
number contain one or more such regulated plant
or animal materials. It is the buyer’s responsibility
to investigate any such restrictions and to obtain
any relevant export or import licenses. Please note
that this process is governed by local authorities
and may take considerable time. Regardless of
any delay in the obtaining of an export or import
license or certificate or denial of a license’s or
certificate’s issuance, purchased lots shall be paid
for in accordance with the Conditions of Sale, and
any such delay or denial shall not serve as the basis
for cancellation of any sale. Prospective buyers
are advised to obtain information from the relevant
regulatory authorities regarding export and import
restrictions, requirements, and costs prior
to bidding.
Prospective buyers should also check with their
local (e.g. state) regulatory authorities regarding any
local restrictions and/or permit requirements that
may apply with respect to purchases of regulated
species materials.
Upon request, Bonhams can refer the purchaser
to a third party agent to assist the purchaser in
attempting to obtain the appropriate licenses and/or
certificates. However, there is no assurance that any
necessary licenses or certificates can be obtained.
Please contact the Specialist Department for a
suggested list of shipping agents prior to placing a
bid if you are uncertain as to whether a lot is subject
to export/import license or certificate requirements
or related restrictions.
PHYSICAL CONDITION OF LOTS IN
THIS AUCTION
PLEASE NOTE THAT THERE IS NO REFERENCE
IN THIS CATALOG TO THE PHYSICAL CONDITION
OF ANY LOT. INTENDING BIDDERS MUST
SATISFY THEMSELVES AS TO THE CONDITION
OF ANY LOTS AS SPECIFIED IN THE ‘LIMITATION
OF LIABILITY’ IN THE ‘CONDITIONS OF SALE.’
As a courtesy to intending bidders, Bonhams will
provide a written indication of the physical condition
of lots in this sale if a request is received up to 24
hours before the auction starts. Such report is also
available for download from Bonhams website.
NO GUARANTEE OF AUTHENTICITY FOR
CHINESE PAINTINGS AND CALLIGRAPHY
Current scholarship in the field of Chinese paintings
and calligraphy does not permit unqualified
statements as to Authorship or date of execution.
The limited right of rescission contained in the
Conditions of Sale does not apply to Chinese
paintings and Chinese calligraphy. Nonetheless,
if within twenty-one days of the sale of any such
lot, the original purchaser gives written notice to
Bonhams that the lot is a forgery and if within
fourteen days after giving such notice, the original
purchaser returns the lot to us in the same condition
as at the time of sale and demonstrates to our
satisfaction that the lot is a forgery, Bonhams will
rescind the sale and refund the purchase price
received. For this purpose a ‘forgery’ is defined as a
work created with intent to deceive.
NO GUARANTEE OF AUTHENTICITY
FOR JAPANESE AND KOREAN PAINTINGS
AND CALLIGRAPHY
Current scholarship in the field of Japanese and
Korean paintings and calligraphy does not permit
unqualified statements as to Authorship or date of
execution. The limited right of rescission contained
in the Conditions of Sale does not apply to
Japanese and Korean paintings, nor to Japanese
and Korean calligraphy. Nonetheless, if within
twenty-one days of the sale of any such lot, the
original purchaser gives written notice to Bonhams
that the lot is a forgery and if within fourteen days
after giving such notice, the original purchaser
returns the lot to us in the same condition as at the
time of sale and demonstrates to our satisfaction
that the lot is a forgery, Bonhams will rescind the
sale and refund the purchase price received. For
this purpose a ‘forgery’ is defined as a work created
with intent to deceive.
Notices to all Buyers
NY/MAIN/17.2021
