Important Modern & Vintage Timepieces New York September 30, 2015

CONDITIONS OF SALE 拍卖条款

The auction is a public auction held by Antiquorum USA, Inc. (hereinafter "Antiquorum") on behalf of the consignors of the lots being sold. A person's participation in the auction and/or purchase of any lots constitutes an agreement to be bound by these Conditions of Sale as well as all rights and obligations arising therefrom. The Important Notices contained in this catalogue are deemed to be a part of these Conditions of Sale and are hereby incorporated in their entirety into these Conditions of Sale. Except as amended by Antiquorum in its sole and absolute discretion by the posting of notices or oral announcement at the auction or otherwise, these Conditions of Sale together with the Important Notices and the other contents of this catalogue constitute a full recitation of the terms and conditions under which sales are conducted and may not be amended except in a writing acknowledged by Antiquorum. Unless otherwise agreed in writing by Antiquorum these Conditions of Sale shall apply to auction sales as well as all other sales made by Antiquorum. Antiquorum accepts no responsibility for and shall not be liable for any defaults by any Buyers or Consignors.

该拍卖会是由 美国Antiquorum公司代表所有拍品委托人所举行的公开拍卖会。 参与拍卖会或是购买任何拍品都需同意这些拍卖条款和由此产生的权利和义务。 图录中所包含的重要须知也被视为条款的一部分，因此并入拍卖条款。除了Antiquorum有绝对权利单方面修改或是在拍卖会上发出书面或是口头通知外，这些条款连同这些重要通知， 图录中的其他内容构成由Antiquorum书面承认的执行拍卖的完整拍卖条款， 这些条款是不可更改的。Antiquorum书面同意这些拍卖条款应当符合所有其他由Antiquorum制定的条款。 Antiquorum对于竞买人或是委托人的违约，不承担任何责任。


1.LOTS OFFERED FOR SALE 拍品
Before the sale, all lots may be examined at the exhibition times listed in the catalogue. All interested persons including, without limitation, bidder's representatives and auction agents are understood to have examined all lots which they purchase and to accept them as they are at the moment of the fall of the auctioneer's hammer and not necessarily as described in any written material or oral communications. Those persons interested in purchasing any of the lots being sold shall be responsible for examining the lots personally to confirm their actual condition. All lots are sold "as is" according to their condition at the moment of the fall of the auctioneer's hammer. Buyer acknowledges that it is the responsibility of buyer to fully inspect each lot before bidding and hereby represents that the amounts bid for any lot are based solely on buyer's own independent inspection and evaluation of that lot.

在开拍前，预展时应当检查所有图录中的拍品。 所有感兴趣的人，包括，但不限于，竞买人代表，拍卖代表都应该知道检验所有他们所购买的拍品， 必须接受他们在拍卖师落槌时的品相，而不是任何其他书面资料或是口头描述上的一样。 所有感兴趣的想要购买任一拍品的买家都应亲自检验拍品的实际状况。所有拍品 都按拍卖师落槌之后的原样售出。 竞买人必须承认在其竞拍之前已经全面检查每个拍品， 由此表明任一拍品的总价都是基于买家自己独立的检验评估的。

Antiquorum has included in the catalogue estimates of the value of the lots to be sold. Such estimates have been developed using such experts, tests and other methods as Antiquorum has deemed in its sole discretion to be appropriate under the circumstances. Antiquorum shall have no liability whatsoever relating to estimates of value attributed to the lots and all participants in the auction shall be responsible for reaching their own conclusions as to the value of the lots. Neither Antiquorum nor the consignor is responsible for any errors and omissions in the catalogue or any advertisements or other written material, it being understood that any description or statement therein does not constitute a warranty or representation and is provided for identification purposes only.

Antiquorum对图录中所有要出售的拍品都有估价。 所有估价都是源自Antiquorum单方面认为合情合理的专家， 测试或是其他检验方法的评判。 Antiquorum不应当承担关于拍品估价的任何责任， 竞买人应当对拍品的价值得出自己的结论并承担责任。不论是Antiquorum， 还是委托人，都不用对图录中， 广告中或是任何其他书面材料中的错误或是遗漏承担责任。所有的描述或是陈述都不构成担保， 仅作为参考目的而提供。


Unless specified in the catalogue, lots are subject to reserve price which is a confidential minimum amount the consignor is willing to accept. If the reserve price is not reached, the auctioneer may withdraw the lot from the sale. The auctioneer may open bidding on any lot below the reserve by placing a bid on behalf of the consignor. The auctioneer may continue to bid on behalf of the consignor up to the amount of the reserve, either by placing successive or consecutive bids for a lot, or by placing bids in response to other bidders.

除非图录中特别指明， 拍品都有保留价， 保留价为委托人所能接受的最低出价。如果没有达到保留价，拍卖师可以取消该拍品。 拍卖师可以代表委托人以低于保留价的价格开拍任何一件拍品。在竞买人出价非常连贯， 或是响应其他竞拍者的情况下， 在达到保留价之后拍卖师可以代表委托人继续拍卖。

Except for the limited warranty, contained in Section 2 "Limited Warranty" below, all lots are sold without any representations or warranties by Antiquorum or the consignor as to merchantability, fitness for a particular purpose, rarity, importance, the correctness of the catalogue or other description concerning the author, maker, origin, period, age, attribution, authenticity, provenance, weight or condition of any object. No statement (whether oral or written, made in the catalogue, an advertisement, a bill of sale, posting, announcement or elsewhere) whether made by any employee or agent of Antiquorum shall be deemed to be a warranty, representation or assumption of liability. Neither Antiquorum nor the consignor have any responsibility whatsoever for any defect in or deterioration of any lot.

除了第二条有限保证， 所有拍品出售， Antiquoruim或是委托人对所有出售的拍品适销性和适用性或是适合某一特殊用途，图录中的稀有，重要性， 正确性和其他任何物品关于作者，制造商，来源， 年代，归因，真实性，起源，重量和品相都不作任何担保。 不论是口头， 或是书面的， 由Antiquorum的员工或是代表制定出现在图录， 广告，卖据， 海报，公告或是任何地方的陈述， Antiquorum都不承担任何责任。Antiquorum和委托人对任何拍品的缺陷和恶化都不承担责任。

2. LIMITED WARRANTY 有限保证
Except as otherwise provided in the paragraph immediately following, Antiquorum warrants that, upon the consummation of the sale of any lot under the terms and conditions contained in this catalogue, clear and unencumbered right, title and interest in and to such lot shall pass to the buyer. Antiquorum guarantees for a period of one (1) year from the date of sale that the authorship of each lot in this catalogue is as set out in the bold or capitalized type in the catalogue description of the lot. Antiquorum makes no warranties, whatsoever, whether express or implied, with respect to any material in the catalogue other than that appearing in the bold or capitalized heading subject to the exclusions below. Antiquorum does not guaranty that all component parts of any timepiece are original to the timepiece.?
The guarantee does not apply if the catalogue description was in accordance with the opinion of generally accepted experts and specialists at the date of the sale, or the catalogue description indicated that there was a conflict of such opinions.

除了这段所提到的外，Antiquorum 保证图录中的任何拍品都会按照这个拍卖条款完成出售， 清楚，完全的把所有权和得利交付给买家。Antiquorum 自出售之日起的一年内， 图录中的每个拍品的著作权都以粗体或是大写的形式标注在图录中。Antiquorum对于图录中的不是粗体或是首字母大写的描述或是暗示任何其他资料不做任何保证。 Antiquorum 不保证手表中的所有组成部分都是原装的。在出售之日，如果图录中的描述和大众认同的专家意见相符， 或是图录中的描述和专家的意见相冲突之时， 此保证不适用。

The guarantee is provided for a period of one (1) year from the date of the relevant auction, is solely for the benefit of the original purchaser of record and is not transferrable. In the event of any claim by the original purchaser regarding a bold or capitalized provision, said purchaser must (i) notify Antiquorum in writing within three months of receiving any information that causes the original purchaser of record to question the accuracy of the bold or capitalized type heading, specifying the lot number, date of the auction at which it was purchased and reasons for such question; and (ii) return the lot to Antiquorum at the original selling location in the same condition as at the date of sale to the original purchaser of record and be able to transfer good title to the lot, free from any third party claims arising after the date of such sale.

此保证仅限于在与此相关拍卖结束之日起一年内有效。原始买受人之利益是独立的不可转移的。如果原始买受人发出任何关于拍品粗体或是大写描述的索赔， 在三个月内，买家必须通知Antiquorum, 任何因为粗体或是首字母大写精确性的问题， 请注明拍品编号，有关此拍品的那场拍卖会的日期。 请按原始买受人出售之日起的原样退回到原始出售点，且能够有效的转移所有权。 不接受自出售日起任何其他第三方提出的索赔。

Antiquorum has discretion to waive any of the above requirements. It is specifically understood and agreed that the rescission of a sale and the refund of the original purchase price paid (the successful hammer price, plus the buyer's premium) is exclusive and in lieu of any other remedy which might otherwise be available as a matter of law, or in equity. Antiquorum and the consignor shall not be liable for any incidental or consequential damages incurred or claimed, including without limitation, loss of profits or interest. Other than the limited warranty and guarantee provisions above, Antiquorum and the consignor make no representations, warranties or guarantees regarding the lots sold hereunder.?

Antiquorum 有权免除以上任何一条条款。 买受人唯一的补救措施双方理解并同意终止出售和全额退款（落槌价加上买家佣金）。Antiquorum和委托人对于间接或是直接损害赔偿，包括追诉时效和利益损失不承担任何责任。 除了以上提到的有限保证和保证条款， Antiquorum和委托人对于Antiquorum售出的拍品不做任何保证。

3. THE AUCTION 拍卖会
The purchase price payable by a buyer will be the sum of the final bid price plus the buyer's premium, together with any applicable sales or compensating use tax. In addition to the hammer price, the buyer's premium is payable as follows: 25% of the hammer price on each lot up to and including US$ 75,000, 20% from US$ 75,001 to US$ 1,500,000 and 12% from US$ 1,500,001. Antiquorum may in its sole and absolute discretion and at any time withdraw, group differently or divide any lot included for sale and shall have no liability whatsoever for the same. Antiquorum reserves the right to refuse any bids in its full and absolute discretion. In the event of any dispute between bidders, or any other issue with respect to the bidder, the auctioneer will have absolute discretion to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the article in dispute. If any dispute arises after the sale, Antiquorum's sale record is conclusive.

买家应付的货款是落槌价加上买家佣金，任何可适用出售和补偿使用税的总和。除了落槌价，买家佣金是按以下标准收取，低于75000美金含75000,的收取落槌价25%， 75001-1500000美金， 收取落槌价的20%， 1500000以上的收取落槌价的12%。 Antiquorum单方面有随时取消， 分组或是划分任何要出售的拍品的权力，并不承担任何责任。Antiquorum保有拒绝任何出价的绝对权。 如果竞买人之间存在争议，或是买家其他任何问题， 拍卖师拥有对存在争议的拍品决定成功竞价者， 继续拍卖，取消出售或是重新拍卖的绝对权。如果拍卖结束后出现争议， Antiquorum的成交记录为最后结果。

Bidding shall generally be increased in increments of 10%, however, the auctioneer may modify bidding increments from time to time at his/her absolute discretion. Any person bidding for the account of a third party is fully liable for any obligation assumed by such person relating to the sale. This liability includes, without limitation, the verification of the condition and valuation of lots and the payment for lots purchased. Although Antiquorum, in its sole discretion, may execute absentee bids (written bids left with Antiquorum prior to sale) or accept telephone and internet bids as a convenience to clients who are not present at auction, Antiquorum is not responsible for failing to execute such bids or for any errors or omissions in connection therewith.

竞价以10%的增长幅度递增， 但是拍卖师拥有随时调整竞价阶梯的绝对权。任何代表第三方的出价都由该竞买人承担与此次拍卖相关的所有责任（包括，但不限于，对拍品的品相和估价的确认和所购买的拍品付款）。 尽管为了方便竞买人不能及时出现在拍卖会或是不错过拍卖接受电话委托和网络出价， 但是Antiquorum对于竞价失败或是因链接过程出现错误和遗漏不承担任何责任。

4. PAYMENT 支付
Title to the offered lot passes to the buyer upon the fall of the auctioneer's hammer and the announcement by the auctioneer that the lot has been sold, subject to compliance by the buyer with all other conditions of sale, including full payment as required hereunder. Buyer shall have no right to revoke acceptance of any lot after the fall of the hammer.?

拍卖师在该竞买人出价的基础上落槌并宣布该拍品已成交，根据拍卖条款，因此该竞买人应付全款。 该竞买人不能拒绝接受落槌。

The buyer thereupon assumes full risk and responsibility for the lot. The buyer shall immediately pay the full purchase price, buyer's commission and all applicable sales and other taxes in us dollars using a method of payment acceptable to auctioneer (including U.S. currency, bank wire, cashier checks, traveler's checks, echecks and money orders). Payment in foreign currencies is accepted at the rates of exchange of the day of sale as determined by Antiquorum. Lots are delivered to the buyer only upon the full payment of all such amounts. Shipping and packing arrangements and charges are the sole responsibility of the buyer. After payment has been made in full, Antiquorum may, as a service to the buyer, arrange to have the purchased lots packed, insured and shipped at the buyer's request and expense. In this event, the buyer agrees that all said packaging, handling and shipping is at the sole risk of the buyer and that Antiquorum shall have no liability for any loss or damage to the purchased lots. Antiquorum may move the property to an off-site storage facility at the risk of the buyer. Buyer will be required to pay all applicable taxes, or fees levied by any authority (unless Antiquorum receives satisfactory proof of exemption, to be determined in Antiquorum's sole discretion) including, without limitation, New York City sales tax of 8.875 %.

因此该买受人承担该拍品的所有风险和责任。 该买受人应立即通过拍卖公司可接受的任一种付款方式（如美金，银行电汇，现金结算，旅行支票，电子支票， 汇票） 付清以美金结算的全款，买家佣金，任何适用的买卖以及各种税收。 外汇以Antiquorum决定出售该拍品当天的汇率结算。 只有当收到拍品全款后才会发货。 运输和包装都由买家自己负责。 在收到全款之后， Antiquorum 应买受人要求并由其承担风险和费用，对买受人所购买的拍品进行打包， 保险及发货。 在这种情况下， 买受人须同意所有的包装， 手续和发货都由其承担风险。 Antiquorum对其所购买的拍品的任何损失不承担任何责任。 已买受人承担风险的情况下Antiquorum可以把资产转移到外部货栈公司。买受人须支付可适用的税收或是其他权威部门所征收的费用（除非收到令人满意的免税证明，由Antiqourum自行决定）包括， 但不限于， 纽约营业税为8.875%。

If payment on a lot has not been collected by the twenty-fifth calendar day following the sale, the invoice remaining unpaid will be automatically charged to the bidder's credit card, and the bidder will be liable for an additional administration and handling charge equal to three and one half (3 1/2 %) percent of the total invoice. The bidder hereby acknowledges Antiquorum's right to, and hereby authorizes Antiquorum to seek and recover any part of the unpaid invoice, including lost commissions and administrative and handling charges due to them, should bidder default by charging this amount to bidder's credit card in any manner authorized by law. It is expressly agreed that consignor shall only receive payment for a lot provided Antiquorum has received full payment from buyer, including such lost commissions and administrative and handling charges.

如果一件拍品自售出日25个自然日之后仍未收到货款， 账单中未付的金额将从买受人信用卡中自动扣除，并且买受人将须承担账单总额3.5%的管理费和手续费。 竞买人须接受Antiquorum有权或是授权给Antiquourm从买受人信用卡里面扣除和补足账单中的未付部分，包括由于买家个人过错所产生的佣金，和管理手续费的行为是合法的。 委托人明确同意只有在Antiquorum收到买受人的全款， 佣金以及管理手续费后才能收到付款。

5. REMEDIES, APPLICABLE LAWS AND JURISDICTION 补救措施,适用的法律和管辖权
To the extent that any other information or provision set forth in this catalogue is inconsistent with the conditions of sale, the conditions of sale shall be controlling.

如果图录中有任何资料和规定与拍卖条款不符的， 都以拍卖条款为准。

If the buyer fails to comply with any of these conditions of sale, Antiquorum may (in addition to asserting all remedies available by law), (i) hold such defaulting buyer liable for the purchase price; (ii) cancel the sale; (iii) resell the property without reserve at public auction or privately on seven days' notice to the buyer; (iv) pay the consignor an amount equal to the net proceeds payable in respect of the amount bid by the defaulting buyer and then resell the property to a third party without reserve at public auction or privately on fifteen (15) days written notice to such buyer; or (v) return the lot to the consignor, provided forty-five (45) days have elapsed and no payment has been received from buyer; or (vi) take such other action as Antiquorum deems necessary or appropriate. If Antiquorum resells the property pursuant to clause (iii) or (iv) above, the defaulting buyer shall be liable for the payment of any deficiency between the purchase price and the price obtained upon resale and all costs and expenses, including administration, handling, insurance, warehousing, the expenses of both sales, reasonable attorneys' fees, commissions, incidental damages and all other charges due hereunder. In the event that such buyer pays a portion of the purchase price for any or all lots purchased, Antiquorum shall apply the payment received to such lot or lots as Antiquorum, in its sole discretion, deems appropriate.

如果买受人没有遵守这些条款，Antiquorum可以（寻求合法的赔偿）（i)要求违约买受人承担购买货款的责任，(ii)撤销出售 (iii) 在通知买受人七天后可以重新公开拍卖或是私下出售该拍品 (iv) 在通知违约买受人十五天， 重新公开拍卖或是私下出售该拍品， 支付委托人所得款项的净收入。(v) 在四十五天之后仍未收到买受人付款的退还该拍品给委托人， (vi) Antiquorum采取必要或是适当的某种措施。 如果Antiquorum已经按照 上面(iii) (iv) 将拍品卖出，再行拍卖的价款低于原拍卖价款的，违约买受人应当承担支付差额和重拍所花费的费用的（包括管理手续费，保险，仓储，两次拍卖的花费， 合理的律师费， 佣金，由此带来的间接损失和其他费用的责任。在某种程度上 Antiquorum单方面有权决定该买受人应该付部分货款，这是合理的。

Any buyer who fails to comply with these conditions of sale will be deemed to have granted Antiquorum a security interest in, and antiquorum may retain as collateral security for such buyer's obligation to it, any property in Antiquorum's possession owned by such buyer. This security interest secures the principal amount of any such claim and also any outstanding or accruing interest, commissions, costs and all other fees as well as any and all damages suffered by Antiquorum. Antiquorum is authorized to file and the buyer agrees to execute, acknowledge and deliver all such other documents as Antiquorum reasonably deems necessary to create, perfect, and continue the security interest in the lots contemplated hereby. If the buyer fails to execute and deliver any documentation referred to herein, the buyer irrevocably appoints Antiquorum as his attorney in fact to execute and deliver that documentation for and in the buyer's name.

任何没有遵守拍卖条款的竞买人， 即应视为已授予Antiquorum可以没收Antiqourum所持有该卖家任何资产的担保权益。 该担保权益保障了Antiquorum所遭受的本金的损失， 其他未付的利息，佣金，成本以及任何其他费用。买受人同意执行Antiquorum合理制定， 修改和延长的担保权益的权利。如果买受人没有履行文件中所提到的， 买受人不可撤销任命Antiquorum作为其代理人以买受人的名义来履行和执行此文件。

Antiquorum shall have the benefit of all rights of a secured party under the New York Uniform Commercial Code. Payment will not be deemed to have been made in full until Antiquorum has collected good funds. In the event the buyer fails to pay any or all of the total purchase price for any lot and Antiquorum nonetheless elects to pay the consignor any portion of the sale proceeds, the buyer acknowledges that Antiquorum shall have all of the rights of the consignor to pursue the buyer for any amounts paid to the consignor, whether at law, in equity, or under these conditions of sale.

纽约统一商典法担保Antiquorum享有的权益。若Antiquorum没有收到货物资金，买受人视为未付清全款。若买受人没有付或是没有付清该拍品的款项，但是Antiquorum还是选择支付委托人部分销售收益， 买受人同意Antiquorum有权要求委托人向买受人索取任何适当的付款， 都是合理合法的。

The buyer's sole and exclusive remedy against Antiquorum and the consignor shall be the rescission of the sale and the refund of the original purchase price paid for the lot. This remedy shall be in lieu of any other remedy which might otherwise be available as a matter of law, and neither Antiquorum nor the consignor shall be liable, in whole or in part, for any special, incidental or consequential damages, including, without limitation, loss of profits.

买受人就Antiquorum违约的唯一的补救措施就是Antiquorum和委托人终止出售或是退还该拍品的全款。该补救措施和任何其他补救措施同样适应，Antiquorum和委托人对附带损坏或间接损坏，包括，但不限于，或是利益损失不承担任何责任

By bidding at the auction, whether present in person or by agent, by absentee bid, telephone, internet, or other means, the buyer shall be deemed to have consented to the following: (i) this agreement shall be interpreted and enforced according to the substantive laws of the State of New York and the buyer hereby irrevocably and unconditionally submits to the exclusive jurisdiction of any state or federal court sitting in the State of New York, County of New York, over any suit, action or proceeding arising out of or relating to this agreement. The buyer hereby irrevocably and unconditionally waives any objection to the laying of venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. The buyer agrees that a final judgment in any such suit, action or proceeding brought in any such court shall be conclusive and binding upon the buyer and may be enforced in any other courts to whose jurisdiction the buyer is or may be subject, by suit upon such judgment; (ii) at Antiquorum's sole discretion, any controversy or claim arising out of or relating to this agreement, or the breach thereof, shall be settled by arbitration administered by the American Arbitration Association ("AAA") under its commercial arbitration rules (such arbitration to be held in New York, NY before a single arbitrator by the AAA, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof); and (iii) the buyer hereby irrevocably waives the personal service of process upon them in any action or proceeding therein and consent that such process be served by registered or certified mail, return receipt requested, directed to the buyer, such service shall be deemed made five (5) days after mailing.

不论是亲自到现场的买家或是代理人， 委托出价者，电话委托，网络出价或通过其他途径参与竞拍的买家，都被视为同意以下条款： (i) 这个条款执行与解释以纽约州的法律为准， 竞买人应当无条件明示同意将由本协议与条款引起或有关的任何争议提交纽约法院。买方因此不可撤回地及无条件地放弃任何反对由该法院所判处的诉讼裁决。 买受人接受由该法院决定的任何有关该买受人诉讼的最终判决，也可由其他当事人所属管辖权的法院予以执行。(ii) Antiquorum自行决定， 由此协议与条款引起或有关的任何争议， 由此产生的破坏， 都由美国商务仲裁协会基于仲裁规则仲裁（任何仲裁由美国商务仲裁协会的仲裁人在纽约执行， 也可以是在当事人所属管辖权的法院执行）。 (iii)竞买人因此不可撤回有关任何诉讼书状的送达， 并同意以挂号信附回执单的邮寄方式直接送达买受人，该裁决须在邮寄之后的五天内执行。


No waiver, delay, modification or breach of any provision of this agreement by Antiquorum shall constitute a waiver of any preceding or succeeding breach of the same or any other provision hereof.
If any part or provision of this agreement is, for any reason, adjudged unenforceable, such adjudication shall in no way affect any other part or provision of this agreement or the validity or enforcement of the remainder of this agreement, and the part or provision affected shall be curtailed or altered only to the minimum extent necessary to make it conform to the applicable law.

均不得被解释为对任何随后的违反或不履行不予追究、或对本合同项下任何该等条款、权利或特权的放弃。如果本协议的任何部分或规定，因其他理由，裁定无法执行， 都不会影响协议中其他规定的有效执行。如若有影响应当最小程度的修改使他遵循可适用法律。