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ONLINE BIDDING TERMS AND CONDITIONS NTB/ONLINE/TERMS&CONDITIONS/V1/4.2020 requirements, including but not limited to any identification, anti-money laundering or anti-Terrorism financing checks conducted by us, we may at our discretion postpone or cancel your registration, not permit you to bid and/or postpone or cancel completion of any purchase you may make at the Online Sale. D3. Once you have registered you should keep your account details strictly confidential and you must not permit any third party to use or access your account on your behalf or otherwise. You will be liable for any and all bids made via your account. D4. If you are bidding on behalf of another party, you agree: (i) To provide such information as is requested by us to allow us to complete our identification, anti-money laundering and anti-Terrorism checks on such other party; and (ii) That if your bid is successful, you are jointly and severally liable with that other party for the full amounts owing for the successful bid. D5. If you are bidding for a Company, you will have to provide the Company identification information set out in the Notice to Online Bidders. E. Forgeries E1. We undertake a personal responsibility for any Forgery in accordance with the terms of this Section E. E2. If we are satisfied that a Lot we have sold to you is a Forgery we will (as principal) purchase the Lot from you and you will transfer the title to the Lot in question to us, with full title guarantee, free from any liens, charges, encumbrances and adverse claims, in accordance with the provisions of Sections 12(1) and 12(2) of the Sale of Goods Act 1979 and we will pay to you an amount equal to the sum of the Purchase Price, Buyer’s Premium, VAT and Expenses paid by you in respect of the Lot. E3. This Section E applies only if: (i) your name appears as the named person to whom the original invoice was made out by us in respect of the Lot and that invoice has been paid; and (ii) you notify us in writing as soon as reasonably practicable after you have become aware that the Lot is or may be a Forgery, and in any event within one year after the Online Sale, that the Lot is a Forgery; and (iii) within one month after such notification has been given, you return the Lot to us in the same condition as it was at the time of the Online Sale, accompanied by written evidence that the Lot is a Forgery and details of the Sale and Lot number sufficient to identify the Lot. E4. This Section E will not apply in respect of a Forgery if: (i) the Entry in relation to the Lot contained in the Online Sales Catalogue reflected the then accepted general opinion of scholars and experts or fairly indicated that there was a conflict of such opinion or reflected the then current opinion of an expert acknowledged to be a leading expert in the relevant field; or (ii) it can be established that the Lot is a Forgery only by means of a process not generally accepted for use until after the date on which the Online Sales Catalogue was published or by means of a process which it was unreasonable in all the circumstances for us to have employed. E5. You authorise us to carry out such processes and tests on the Lot as we in our absolute discretion consider necessary to satisfy ourselves that the Lot is or is not a Forgery. E6. The benefit of this Section E is personal to, and incapable of assignment by, you. E7. If you sell or otherwise dispose of your interest in the Lot, all rights and benefits under this Section E will cease. E8. This Section E does not apply to a Lot made up of or including a Chinese painting or Chinese paintings, a motor vehicle or motor vehicles, a Stamp or Stamps or a Book or Books. F. Bidding in Online Sales F1. Bidding on each Lot will open at or below the low pre-sale Estimate specified in the particulars for that Lot and will increase at the increments provided as bidding on the Lot progresses. F2. Unless otherwise indicated, Lots will be offered subject to a Reserve, which will be at or below the Lot’s low pre-sale Estimate. F3. Bids may only be submitted during the period indicated for bidding on that Lot, ending with Lot Closing in the manner explained in paragraph 5 of the Notice to Online Bidders. F4. Please note that the Online Sale is conducted, and all bids must be made, in the currency of the country in which the Online Sale is based. All bidding increments will be in that currency only and payment for any Lot that is the subject of a successful bid must also be made in the currency of the Online Sale. Any currency conversion tool is provided on the Online Bidding screen for your convenience only. F5. During an Online Sale, you can bid for a Lot by clicking the Bid button. Each bid shall be final and binding as soon as you click the Bid button. You agree that each bid submitted is irrevocable and cannot be amended or corrected even if submitted in error and notified to us. You accept full liability for all bids submitted via your Online Bidding account (including the liability to pay in full and on time in accordance with the Bid Conditions for any Lot that is the subject of a successful bid submitted from your account). F6. You will be notified by email if you are outbid or your bid is below another bid already accepted. In the event of a tie between bids placed, the earlier bid received by our servers shall be accepted. F7. Unless cancelled by us pursuant to these terms and conditions, the highest bid submitted when the online Bidding for the Lot closes (Lot Closing) shall be the successful bid, thereby forming a binding contract for sale between you and the Seller, at which point you will be sent an invoice by Bonhams by email. We will not notify you about Lots for which you were not the successful Bidder. F8. In the event of any discrepancy or dispute about bidding or the sale of any Lot, the Sale Record maintained on Bonhams’ servers shall be final and binding. F9. Please note that Bonhams reserves the right to withdraw its permission for you to use Online Bidding, terminate an Online Bidding account, reject any bids made or restart bidding afresh for a Lot, for any reason at any time prior to, during or after a Sale. F10. Bidding through an agent. Bids will be treated as placed exclusively by and on behalf of the person registered to bid. If you wish to bid on behalf of another person (your principal) you must complete the pre-registration requirements set out above both on your own behalf and with full details of your principal, and we will require written confirmation from the principal confirming your authority to bid. G. Bidder and Buyer Warranties G1. You warrant that neither you nor - if you are a company, your directors, officers or your owner or their directors or shareholders - are an individual or an entity that is, or is owned or controlled by individuals or entities that are: (i) the subject of any sanctions administered or enforced by the U.S. Department of the Treasury’s Office of Foreign Assets Control, the U.S. Departure of State, the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (“Sanctions” and a “Sanctioned Party”); or (ii) located, organised or resident in a country or territory that is, or whose government is, the subject of Sanctions, including without limitation, Iran, North Korea, Sudan and Syria. G2. You warrant that the funds being used for your purchase have no link with criminal activity including without limitation money laundering, tax evasion or terrorist financing, and that you not under investigation for, neither have been charged nor convicted in connection with, any criminal activity. You also warrant that items purchased by you through Bonhams are not being purchased or to be used in any way connected with or to facilitate breaches of applicable Tax, AntiMoney Laundering or Anti-Terrorism laws and regulations. G3. Where you are acting as agent for another party (“your Principal”), you undertake and warrant that: (i) you have conducted suitable customer due diligence into your Principal under applicable Sanctions and Anti-Money Laundering laws and regulations; (ii) your Principal is not a Sanctioned Party and not owned, partially owned or controlled by a Sanctioned Party, and you have no reason to suspect that your Principal has been charged or convicted with, money laundering, Terrorism or other crimes; (iii) funds used for your Principal’s purchase are not connected with or derived from any criminal activity, including without limitation tax evasion, money laundering or terrorist financing; (iv) items purchased by your Principal through Bonhams are not being purchased or to be used in any way connected with or to facilitate breaches of applicable Tax, Anti-Money Laundering or Anti-Terrorism laws and regu- NTB/ONLINE/TERMS&CONDITIONS/V1/4.2020 lations; and (v) that you consent to Bonhams relying upon your customer due diligence, undertaking to retain records of your due diligence for at least 5 years and to make such due diligence records available for inspection by an independent auditor in the event we request you to do so. G4. We reserve the rights to make enquiries about any person transacting with us and to identify the source of any funds received from you. In the event we have not completed our investigations in respect of anti-Terrorism financing, anti-money laundering or other financial and identity checks concerning either you or the Seller, to our satisfaction at our discretion, we shall be entitled to retain Lots and/or proceeds of Sale, postpone or cancel any Sale and to take any other actions required or permitted under applicable law, without liability to you. H. CONTRACTS BETWEEN THE BUYER AND SELLER AND THE BUYER AND BONHAMS H1. On the Lot Closing, the Bidder with the highest bid on that Lot will become the Buyer and a Contract for Sale of the Lot will be entered into between the Seller and the Buyer on the terms of the Buyer’s Contract for Sale set out in Appendix 1 to these Online Bidding Terms and Conditions [Appendix 1]. The Buyer will be liable to pay the Purchase Price, which is the Hammer Price plus any applicable VAT or Sale or use taxes and other applicable costs such as Artists’ Resale Right where indicated (with “AR”). H2. At the same time, a separate contract is also entered into between Bonhams as Auctioneers and the Buyer. This is our Buyer’s Agreement, the terms of which are set out in Appendix 2 these Online Bidding Terms and Conditions. [Appendix 2]. H3. Please read the terms of the Contract for Sale and the Buyer’s Agreement in Appendix 1 and 2 to these Online Bidding Terms and Conditions case you are the successful Bidder, including the warranties as to your status and source of funds. We may change the terms of either or both of these agreements in advance of their being entered into, by setting out different terms on our Website or in the Online Sales Catalogue. It is your responsibility to ensure you are aware of the up to date terms of these agreements for this Sale. I. BUYER’S PREMIUM AND OTHER CHARGES PAYABLE BY THE BUYER I.1. Under the Buyer’s Agreement, a premium (the Buyer’s Premium) is payable to Bonhams by the Buyer in accordance with the terms of the Buyer’s Agreement and at rates set out below, calculated by reference to the Hammer Price and payable in addition to it. I.2. For this Online Sale the following rates of Buyer’s Premium will be payable by Buyers on each Lot purchased: 27.5% up to ?2,500 of the Hammer Price 25% of the Hammer Price above ?2,500 and up to ?300,000 20% of the Hammer Price above ?300,000 and up to ?3,000,000 13.9% of the Hammer Price above ?3,000,000. I.3. Storage and handling charges may also be payable by the Buyer as detailed in the Online Sales Catalogue for the appropriate Sale or on our website. I.4. The Buyer’s Premium and all other charges payable to us by the Buyer are subject to VAT at the prevailing rate, currently 20%. VAT may also be payable on the Hammer Price of the Lot, where indicated by a symbol beside the Lot number. See paragraph 8 of the Notice to Online Bidders for details [Link to Notice]. I.5. On Lots marked “AR”, which are sold for a Hammer Price of €1,000 or greater (converted into the currency of the Sale using the European Central Bank Reference rate prevailing on the date of the Sale), the Additional Premium will be payable to us by the Buyer to cover our Expenses relating to the payment of royalties under the Artists Resale Right Regulations 2006. See paragraph 7 of the Notice to Online Bidders for details [Link to Notice]. J. AFTER THE SALE J1. You will be sent an invoice if you have been successful in your bidding and you may check the results that are published by Bonhams online after the Sale. J2. You agree to pay for and collect any Lot that is the subject of a successful bid submitted by you or from your Online Bidding account, in accordance with these Online Bidding Terms and Conditions. K. PAYMENT K1. It is of critical importance that you ensure that you have readily available funds to pay the Purchase Price and the Buyer’s Premium (plus VAT and any other charges and Expenses to us) in full before making a bid for the Lot. K2. If you are a successful Bidder, payment will be due to us by 4.30 pm on the second working day after the Sale. Payments made by anyone other than the registered Buyer will not be accepted. Bonhams Reserves the right to vary the terms of payment at any time. K3. Bonhams’ preferred payment method is by bank transfer. You may electronically transfer funds to our Bank Account. If you do so, please quote your online paddle number (referenced on your invoice) and invoice number as the reference. Our Bank Account details are as follows: Bank: National Westminster Bank Plc Address: PO Box 4RY 250 Regent Street London W1A 4RY Account Name: Bonhams 1793 Limited Trust Account, Account Number: 25563009 Sort Code: 56- 00-27 IBAN Number: GB 33 NWBK 560027 25563009. K4. If paying by bank transfer, the amount received after the deduction of any bank fees and/ or conversion of the currency of payment to pounds sterling must not be less than the sterling amount payable, as set out on the invoice. K5. Payment may also be made by one of the methods specified in the Notice for Online Bidders, subject to the terms specified therein. L. PROVISION OF ONLINE SALES AND LIMITATIONS OF BONHAMS’ LIABILITY L1. Any currency conversion tool is provided for your convenience only and is an approximate guide to the equivalent amount in the specified currencies. You are therefore advised to conduct your own research into the applicable exchange rates prior to placing a bid. WE DO NOT ACCEPT ANY RESPONSIBILITY FOR ANY ERRORS THAT MAY OCCUR AS A CONSEQUENCE OF RELIANCE UPON THE CURRENCY CONVERSION TOOL. L2. Bonhams Online Sales are provided on the basis that you shall place bids on your own behalf. In the event Bonhams agrees to place a bid on your behalf in an Online Sale, we do so as an additional service without charge, and BONHAMS ACCEPTS NO RESPONSIBILITY, DUTY OR LIABILITY WHATSOEVER, WHETHER FOR NEGLIGENCE OR OTHERWISE, IN THE PLACING OR FAILURE TO PLACE SUCH BIDS. L3. Lots offered for sale will vary in terms of age, type and condition, with potential faults, imperfections and repairs, and are offered for Sale “AS IS” in their condition as at the time of sale. Lot Descriptions reflect Bonhams’ reasonable opinion within the terms on which they are provided, are provided for general reference and do not purport to be and may not be taken as complete descriptions of the Lot. Lot Descriptions and Condition Reports may contain inaccuracies and typographical errors and we do not warrant the accuracy or completeness of the content or that any defects will be noted or corrected. Condition Reports represent our reasonable opinion (recognising we are not restorers or conservators) and are intended to offer a general view as to the overall condition of the Lot but may not cover all condition issues. Online images depend on connectivity and performance of computer equipment and may not accurately represent the Lot’s colours and shades. WITH THE EXCEPTION OF THE FORGERY GUARANTEE IN SECTION E, BONHAMS DOES NOT OFFER ANY WARRANTY OR GUARANTEE FOR LOT DESCRIPTIONS, CONDITION REPORTS, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ATTRIBUTION, AUTHENTICITY OR PROVENANCE, AND ANY IMPLIED WARRANTIES ARE EXCLUDED TO THE FULLEST EXTENT PERMISSIBLE BY LAW. L4. Bonhams reserves the right, in our sole discretion, to correct any errors or omissions in any portion of the Online Sale and to make any changes to the features, functionality or content of the Online Sale at any time. APART FROM IN RESPECT OF THE FORGERY GUARANTEE IN SECTION E AND OTHER THAN IN THE EVENT OF ITS FRAUD OR FRAUDULENT MISREPRESENTATION, BONHAMS EXCLUDES LIABILITY WHETHER IN NEGLIGENCE OR OTHERWISE FOR ANY ERROR OR OMISSION IN ANY DESCRIPTION OF A LOT OR ANY ESTIMATE IN RESPECT OF ANY LOT OR THE CONTENTS OF ANY CONDITION REPORT OR OTHERWISE, WHETHER GIVEN ORALLY OR IN WRITING AND WHETHER GIVEN BEFORE, DURING OR AFTER THE SALE. This disclaimer and exclusion do not affect your statutory rights as a Consumer. L5. NEITHER BONHAMS NOR THE SELLER WILL BE LIABLE FOR ANY LOSS OF BUSINESS, PROFITS, REVENUE OR INCOME, OR FOR LOSS OF REPUTATION, OR FOR DISRUPTION TO BUSINESS OR WASTED TIME ON THE PART OF MANAGEMENT OR STAFF, OR FOR INDIRECT LOSSES OR CONSEQUENTIAL DAMAGES OF ANY KIND, IRRESPECTIVE IN ANY CASE OF THE NATURE, VOLUME OR SOURCE OF THE LOSS OR DAMAGE ALLEGED TO BE SUFFERED, AND IRRESPECTIVE OF WHETHER THE SAID LOSS OR DAMAGE IS CAUSED BY OR CLAIMED IN RESPECT OF ANY NEGLIGENCE, OTHER TORT, BREACH OF CONTRACT (IF ANY) OR STATUTORY DUTY, RESTITUTIONARY CLAIM OR OTHERWISE. L6. Without prejudice to the provisions of this Section L, in any circumstances where Bonhams and/or the Seller is liable in relation to any Lot or any Description or Estimate made of any Lot, or the conduct of any Sale in relation to any Lot, whether in damages, for an indemnity or contribution, or for a restitutionary remedy or otherwise, our and/or the Seller’s liability (combined, if both we and the Seller are liable) will be limited to payment of a sum which will not exceed by way of maximum the amount of the Purchase Price of the Lot irrespective in any case of the nature, volume or source of any loss or damage alleged to be suffered or sum claimed as due, and irrespective of whether the liability arises from any negligence, other tort, breach of contract (if any) or statutory duty or otherwise. L7. Nothing contained in this Section L will be construed as excluding or restricting (whether directly or indirectly) Bonhams or the Seller’s liability or excluding or restricting any person’s rights or remedies in respect of (i) fraud, or (ii) death or personal injury caused by Bonhams or the Seller’s negligence (or by the negligence of any person under our control or for whom we are legally responsible), or (iii) acts or omissions for which we are liable under the Occupiers Liability Act 1957, or (iv) any other liability to the extent the same may not be excluded or restricted as a matter of law or (v) our undertakings under paragraphs 9 (in relation to specialist Stamp or Book Sales only) and 10 of the Buyer’s Agreement. The same applies in respect of the Seller, as if references to us in this paragraph were substituted with references to the Seller. L8. If you choose to participate in Bonhams’ Online Sales, you do so entirely at your own risk. Bidding in Online Sales is dependent upon, among other things, your own equipment and the availability, speed and quality of internet connections provided by third party operators and suppliers, for which Bonhams accepts no responsibility or liability whatsoever. L9. Bonhams reserves the right to provide any information from the Website or from its use to respond to requests from governmental or other bodies with jurisdiction or to meet the requirements of any applicable law, regulation or Bonhams policy. L10. In addition to any other rights we may have at law, Bonhams reserves the right, at our discretion and without liability to you, to restrict, suspend or terminate your participation in any of Bonhams’ Online Sales in the event of your breach of the Conditions of Sale, or your provision of false or misleading information, or in the event of any interference by you with the administration or smooth operation of the Website. L11. BONHAMS AND ITS SUPPLIERS PROVIDE THE ONLINE SALE AND THE BONHAMS WEBSITE “AS IS” AND WITHOUT ANY WARRANTY OR CONDITION, EXPRESS, IMPLIED OR STATUTORY. WITHOUT LIMITING THE FOREGOING, WE ACCEPT NO LIABILITY FOR ANY FAILURES, DELAYS OR ERRORS CAUSED BY INTERRUPTIONS IN THE AVAILABILITY OF THE ONLINE SALE OR OUR WEBSITE OR ANY ERRORS OR DEFECTS IN THEIR CONTENT OR FUNCTIONALITY, ANY SOFTWARE AND/OR HARDWARE DEFECTS (WHETHER YOURS OR OURS) AND/OR ANY INTERNET CONNECTION PROBLEMS (WHETHER YOURS OR OURS), AND WE DO NOT REPRESENT OR WARRANT THAT THE ONLINE SALE OR THE WEBSITE WILL BE ERROR-FREE, FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS, OR THAT ANY DEFECTS WILL BE CORRECTED. M. MISCELLANEOUS M1. You may not assign either the benefit or burden of this agreement. M2. Bonhams’ failure or delay in enforcing or exercising any power or right under this agreement will not operate or be deemed to operate as a waiver of our rights under it except to the extent of any express waiver given to you in writing. Any such waiver will not affect our ability subsequently to enforce any right arising under this agreement. M3. If either party to this agreement is prevented from performing that party’s respective obligations under this agreement by circumstances beyond its reasonable control or if performance of its obligations would by reason of such circumstances give rise to a significantly increased financial cost to it, that party will not, for so long as such circumstances prevail, be required to perform such obligations. This paragraph does not apply to the obligations imposed on you by Sections D (Registration), F (Bidding), G (Warranties) and K (Payment). M4. Any notice or other communication to be given under this agreement must be in writing and may be delivered by hand or sent by first class post or air mail or fax transmission (if to Bonhams marked for the attention of the Company Secretary), to the address or fax number of the relevant party given in the Contract Form (unless notice of any change of address is given in writing). It is the responsibility of the sender of the notice or communication to ensure that it is received in a legible form within any applicable time period. M5. If any term or any part of any term of this agreement is held to be unenforceable or invalid, such unenforceability or invalidity will not affect the enforceability and validity of the remaining terms or the remainder of the relevant term. M6. References in this agreement to Bonhams will, where appropriate, include reference to Bonhams’ officers, employees and agents. M7. The headings used in this agreement are for convenience only and will not affect its interpretation. Words and phrases shown in italics shall have the meanings ascribed in the Definitions Section of the Notice to Online Bidders, unless otherwise specified. M8. In this agreement “including” means “including, without limitation”. M9. References to the singular will include reference to the plural (and vice versa) and reference to any one gender will include reference to the other genders. M10. Reference to a lettered or numbered section or paragraph is to a section or paragraph of this agreement, unless otherwise specified. M11. Save as expressly provided in paragraph M12 nothing in this agreement confers (or purports to confer) on any person who is not a party to this agreement any benefit conferred by, or the right to enforce any term of, this agreement. M12. Notwithstanding the previous paragraph, where this agreement confers an immunity from, and/or an exclusion or restriction of, the responsibility and/or liability of Bonhams, it will also operate in favour and for the benefit of Bonhams’ holding companies and the subsidiaries of such holding companies and the successors and assigns of Bonhams and of such companies and of any officer, employee and agent of Bonhams and such companies, each of whom will be entitled to rely on the relevant immunity and/or exclusion and/or restriction within and for the purposes of Contracts (Rights of Third Parties) Act 1999, which enables the benefit of a contract to be extended to a person who is not a party to the contract, and generally at law. M13. Copyright in all images in the Online Sales Catalogue is owned by Bonhams and/ or other parties, including texts, layouts and illustrations; these may not be used or reproduced by you in any way without Bonhams’ written permission. Lots are not offered for sale with copyright or other reproduction rights. N. CHANGES TO THESE TERMS AND CONDITIONS N1. We may from time to time make changes to these terms and conditions. Any changes will be posted on our website at https://www. bonhams.com. Please review these terms and conditions regularly to ensure you are aware of any changes made by us. If you participate in our Online Sales after changes have been made and posted, you shall be deemed to have agreed to such changes. O. GOVERNING LAW O1. All transactions to which this agreement applies and all connected matters will be governed by and construed in accordance with the laws of England and we and you each submit to the exclusive jurisdiction of the courts of England, save that we may bring proceedings against you (including but not limited to enforcing payment) in any other court of competent jurisdiction to the extent permitted by the laws of the relevant jurisdiction. P. EU CONSUMER CANCELLATION RIGHTS P1. Right to Cancel the Purchase. If you are a Consumer in accordance with the EU Consumer Rights Directive and habitually reside in the European Union, and the Seller is not a Consumer (as identified in the Online Sales Catalogue), you have the right to cancel the contract for the purchase of a Lot, without giving any reason. Sellers who are Consumers will be identified as private individuals in the entry for the Lot. P2. The cancellation period will expire 14 calendar days from the day after the date on which you, or a third party (other than the carrier and indicated by you) acquires, physical possession of the Lot. P3. To exercise the right to cancel you must inform Bonhams, who are offering to sell the Lot either as agent for the Seller or as the owner of the Lot, of your decision to cancel this contract by a clear statement (e.g. by post or e-mail). You may use the model cancellation NTB/ONLINE/TERMS&CONDITIONS/V1/4.2020 forms set out in paragraph P6 below, but this is not obligatory. To meet the cancellation deadline, it is sufficient for you to send your communication concerning your exercise of the right to cancel before the cancellation period has expired. P4. Effects of cancellation (i) If you cancel the contract, we will reimburse to you all payments received from you, including the costs of delivery but not any extra costs arising if you chose a type of delivery other than the least expensive type of standard delivery offered by us; or any import duties we incur as a result of you returning the Lot to us. (ii) We may make a deduction from the reimbursement for loss in value of any Lots supplied, if the loss is the result of unnecessary handling by you. (iii) We will make the reimbursement without undue delay, and not later than: 14 calendar days after the day we receive back from you any Lot supplied; or (if earlier) 14 calendar days after the day you provide evidence that you have returned the Lot. (iv) We will make the reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise (but reimbursement will always be to an account solely in your name); in any event, you will not incur any fees as a result of the reimbursement. We may withhold reimbursement until we have received the Lot back or you have supplied evidence of having sent back the Lot, whichever is earliest. (v) You shall send back the Lot or return it over to us at such address as we may specify for the purpose, without undue delay and in any event not later than 14 calendar days from the day after on which you communicate your cancellation from these Conditions of Sale to us. (vi) The deadline is met if you send back the Lot before the period of 14 calendar days has expired. (vii) You will have to bear the direct costs of returning the Lot. If we arranged for the Lot to be delivered we Estimate that the cost returning the Lot by the same means is likely to be similar to the cost of delivery, but it is not possible for us to be more accurate as to this cost due to the many variables involved in our worldwide business model and the means by which a return might be made. (viii) You are only liable for any diminished value of the Lot resulting from the handling other than what is necessary to establish the nature, characteristics and functioning of the Lot. P5. Right to cancel the contract for services. If you are a Consumer in accordance with the EU Consumer Rights Directive and habitually live in the European Union, and we have notified you that you are purchasing the Lot from a Consumer, you have the right to cancel the contract for services Bonhams provides to you in connection with your purchase of a Lot, but not to cancel the contract for the purchase of the Lot itself. Bonhams’ services consist of: the opportunity to participate in the Online Sale, to be introduced to Lots for Sale which may be of interest, to view images and other information about such Lots, and any delivery service for any Lot which you purchase and which is to be delivered pursuant to an agreement with Bonhams). (i) You have the right to cancel the contract for this service within 14 calendar days from the day of conclusion of the contract, without giving any reason. (ii) The cancellation period will expire after 14 calendar days from the day of the conclusion of the contract. (iii) To exercise the right to cancel you must inform the Bonhams company which offers to sell the Lot either as agent for the Seller or as the owner of the Lot, of your decision to cancel this service by a clear statement (e.g. by post or e-mail). You may use the model cancellation form set out in paragraph P7 below, but it is not obligatory. To meet the cancellation deadline, it is sufficient for you to send your communication concerning your exercise of the right to cancel before the cancellation period has expired. (iv) You request Bonhams immediately to begin the performance of its services (including any agreed arrangements for delivery) during the cancellation period described above. If you cancel this contract, we will reimburse to you any payments received from you in respect of the service. However, since you have requested us to begin the performance of services during the cancellation period, you shall pay us an amount which is in proportion to what has been performed until you have communicated us your cancellation from this contract, in comparison with the full coverage of the contract.
