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CONDITIONS OF SALE FOR CHRISTIE’S HONG KONG LIMITED NFT ONLINE-ONLY SALES: AUCTIONS PLEASE READ THESE CONDITIONS OF SALE AND THE SALE PARTICULARS CAREFULLYBEFORE PLACING ANY BID ON A LOT. THESE CONDITIONS OF SALE, THE SALE PARTICULARS ALONG WITH THE IMPORTANT NOTICES AND EXPLANATION OF CATALOGUING PRACTICE, SET OUT THE TERMS AND CONDITIONS ON WHICH WE OFFER THE LOTS NUMBDERED 2, 5 to 9, 14 to 17, 21 to 24 LISTED IN THIS SALE. BY REGISTERING TO BID AND/OR BY BIDDING AT AUCTION YOU AGREE TO THESE TERMS AND CONDITIONS AND THEY WILL BECOME CONTRACTUALLY BINDING ON YOU. THEY ALSO DESCRIBE CERTAIN LIMITATIONS AND EXCLUSIONS OF LIABILITY FOR CHRISTIE’S AND THE SELLER OF A LOT, WHERE APPLICABLE. FOR EACH LOT, CHRISTIE’S ACTS AS AGENT FOR THE SELLER. PLEASE ENSURE THAT YOU HAVE UNDERSTOOD ALL CHARGES, FEES AND TAXES THAT MAY BE APPLIED TO YOUR BID PRICE BEFORE YOU PLACE YOUR BID. THESE MAY DEPEND UPON VARIOUS FACTORS, INCLUDING THE SALE LOCATION OF THE LOT, YOUR PLACE OF RESIDENCY, AND WHETHER YOU USE A CRYPTOCURRENCY TO PURCHASE A LOT. AA. THESE CONDITIONS OF SALE - BINDING ON YOU 1. These Conditions of Sale set out the terms on which Christie’s Hong Kong Limited of 22/F Alexandra House, 18 Chater Road, Central, Hong Kong (referred to as Christie’s, "we", "us", "our" and "ourselves" in these Conditions of Sale) and the seller offer the lots forsale. 2. Words and expressions which are in bold in these Conditions of Sale have the meaning set out in the glossary which is set out in paragraph H of these Conditions of Sale. 3. By registering to bid and/or by bidding in an auction, you (also referred to as the "buyer” and “your” in these Conditions of Sale) agree that these Conditions of Sale and the Sale Particulars shall be contractually binding on you. BB. THE SELLER 1. For the purposes of an NFT auction, the seller is the party who owns the lot at the time the sale is completed. In most circumstances, the seller’s identity will not be disclosed by Christie’s. Christie’s will be selling that lot as the agent of the seller. This means that Christie’s is providing services to the seller to help them sell their lot and that Christie’s is concluding the contract for the sale of the lot on behalf of the seller. 2. When Christie’s is the agent of the seller, the contract of sale which is created by any successful bid for a lot will be directly between you and the seller, and not between you and Christie’s. Even though the sale is by Christie’s on behalf of the seller, Christie’s gives certain undertakings to you directly. These are further described below in these Conditions of Sale. A. BEFORE THE SALE 1. Description of lots (a) Certain words used in the Sale Particulars to describe a lot have special meanings. You can find details of these in the “Important Notices and Explanation of Cataloguing Practice” which forms part of these Conditions of Sale in paragraph K. You can find a key to symbols used in the Sale Particulars under the headings “VAT Symbols, Explanation and Refunds” in paragraph I and “Symbols” in paragraph J. (b) Our description of a lot may specify certain information, including: the smart contract address; the NFT Token ID: the blockchain on which the NFT is stored; the server or network on which the digital asset is stored; and the NFT metadata. You should review and confirm this information. We do not carry out any in-depth technical analysis of this information. Neither we nor the seller do warrant its accuracy or completeness. (c) Our description of any lot and any other statement made by us (whether orally or in writing) about any lot, including about its nature or condition, provenance, technical details, NFT metadata, security or integrity are our opinion and not to be relied on as a statement of fact. We do not carry out any in-depth technical analysis of any lot and neither we nor the seller warrant its accuracy or completeness. (d) Our description of any digital asset, and any other statement made by us (whether orally or in writing) about any digital asset including about its nature or condition, artist, provenance, technical details, security or integrity are our opinion and not to be relied on as a statement of fact. We do not carry out any in-depth technical analysis of any digital asset and neither we nor the seller warrant its accuracy or completeness. 2. Our responsibility for our description of lots Lots are sold “as is” and neither we nor the seller do provide any guarantee in relation to the nature of a lot, and the fact that a lot may be stored on a blockchain should also not be interpreted as, or deemed to be, any guarantee. 3. Estimates Estimates are based on the scarcity, quality and provenance of the lot, on whether the NFT includes any ongoing NFT payments to any party including the seller, and on prices recently paid at auction for similar property. Estimates can change. Neither you, nor anyone else, may rely on any estimate as a prediction or guarantee of the actual selling price of a lot or its value for any other purposes. Estimates do not include any buyer's premium or any applicable taxes or charges. B. REGISTERING TO BID 1. Registration (a) If you have not previously bid or consigned with MyChristie’s and do not have a MyChristie’s account, you will need to create a MyChristie’s account following the instructions provided at http://onlineonly.christies.com and provide any required information and/or complete any necessary forms. In order to register and bid in online-only sales, you must be at least 18 years old. For certain other online-only sales, we may require you to meet a different minimum age. If you have an existing MyChristie’s account, you can sign into the online-only sale with your existing username and password and then subsequently register for the sale (if you have multiple accounts, you will need to select the account under which you wish to transact). (b) If you are a returning bidder who has not bought anything from any of our salerooms in the last two years or if you want to spend more than on previous occasions, we may at our discretion ask you for updated information. If you have any questions, please contact Christie’s Client Services. (c) You will need to give us enough time to process and approve your registration. We may, at our option, decline to permit you to register as a bidder. 2. Failure to provide the right documents If in our opinion you do not satisfy our bidder identification and registration procedures, including, but not limited to, completing any anti-money laundering and/or anti-terrorism financing checks we may require to our satisfaction, we may refuse to register you to bid or permit your participation in the sale and if you make a successful bid, we may cancel the contract for sale between you and the seller. 3. Digital Wallet Requirements Certain auctions may require that if you bid in a cryptocurrency approved by Christie’s, you have a digital wallet with a provider that we specify. If you do not have such a digital wallet, we may refuse to register you to bid or permit your participation in the sale and if you make a successful bid, we will have the right, in our sole discretion, to cancel the contract for sale between you and the seller. 4. Registering as an Individual/on behalf of a Company (a) When registering to bid either as an individual or on behalf of an entity, you accept that in making a bid, you are accepting personal liability to pay the purchase price (as defined in paragraph F1(b) below), unless it has been explicitly agreed in writing with Christie’s before the commencement of the sale that the bidder is acting as agent on behalf of an identified third party acceptable to Christie’s and Christie’s will only look to the principal for payment. In order to register to bid, you are required tosupply the information requested, including a valid debit or credit card in your name, digital wallet address, or other accepted payment information. (b) If you are bidding on behalf of an entity as an Authorised User against an entity’s transactional account with Christie’s, you must select the appropriate account at time of sale registration. If you do not already have a MyChristie’s account you will first need to create one; similarly if the entity does not have a Christie’s transactional account it will need to create one. In either situation, Christie’s may require your entity to provide certain documents or meet certain qualifications as set forth below. Please contact Christie’s Client Services to set up your MyChristie’s account or entity transactionalaccount. (c) Christie’s will require you, or, if you are registering to bid on behalf of a company in accordance with paragraph B4(b), your company, to provide the following types of information and/or documentation: Confirmation of registration (including, but not limited to, a Certificate of Incorporation or Certificate of Formation or Certificate of Good Standing); Confirmation of beneficial ownership (e.g. schedule of shareholders, articles of organization or operating agreement); Confirmation of registered address (e.g. utility bill, bank statement or recent postal envelope, if the registered address is not listed on company documents); and valid, government-issued photo ID for account owner (driver's license, passport or nationalidentity card). (d) Christie’s may also require the production of bank or other financial references or that you meet certain qualifications. Christie’s may also require deposits of a portion of a placed bid to be made to Christie’s. In such event, should you not be the successful bidder, your deposit shall be promptly returned to you. If you are the successful bidder, any such deposit shall be used to offset the appropriateportion of the purchase price. (e) As a successful bidder, if you registered as a company bidder, your company will need to pay for any purchases via a credit card issued to the company account and not a personal account. 5. Credit limits Each bidder is subject to an aggregate bidding limit based on the currency of the sale and you should be notified of this when registering for an online-only sale. Any such bidding limit will apply to all items for sale in that particular online-only sale and to all items you bid upon in aggregate, not on a per lot basis. The bidding limit is based upon the maximum bid you make as opposed to the actual bid amount that is accepted. Christie’s, in its sole discretion, may lower or rescind this limit and has the ability to contact you to request the production of documents or information in relation to such limit. A maximum bid on a lot is deducted against the aggregate bidding limit and the bidding limit will not be reset until bidding on that lot closes. If you should reach the aggregate bidding limit based on the bids you place (whether maximum bids or actual bid amounts), you will not be able to place any further bids on those lots or any additional bids on other lots. You may adjust (i.e. remove, lower or increase) a maximum bid on a lot as long as the bids accepted on such lot have not met or exceeded the maximum bid amount. Should you wish to bid beyond your bidding limit or if you have a question regarding your bidding limit, please contact Christie’s Client Services. C. DURING THE SALE 1. Connectivity and Technical Issues (a) Broadband or other internet capacity constraints, corporate firewalls and other technical problems beyond our reasonable control may create difficulties for some users including (but not limited to) accessing sales and maintaining continuity of such access. (b) Christie’s will not be responsible to you or any other party for errors or failures to execute bids placed on the internet or on your mobile device, including, without limitation, errors or failures caused by: (i) any loss of connection on Christie’s or your end to the online-only sale; (ii) a breakdown or problems with the online bidding software; and/or (iii) a breakdown or problems with any internet connection, computer, mobile device or system. Execution of online and mobile internet bids is a free service and Christie’s does not accept liability for your or our failing to access the bidding site or to execute an online or mobile internet bid or for errors or omissions in connection with this activity. (c) Neither Christie’s nor the seller will be responsible to you or any other party for any errors or variations that may occur or appear in the quality or resolution of digital assets or any representations of the digital assets, such as in a catalog (digital or otherwise), before or during the sale. 2. Christie’s discretion in relation to bidding /purchasing (a) Christie’s reserves the right, in our absolute discretion: (i) to reject your registration to bid; (ii) to reject, revoke or refuse to accept any bid (even those that have been previously accepted); (iii) to withdraw or divide any lot or combine any two or more lots; (iv) whether during or after the sale, to restart or continue the bidding even if the bidding has finished; or (v) in the case of error or dispute and whether during or after the sale, to continue the bidding, determine the successful bidder, cancel the sale of the lot, or re-offer and re-sell any lot. If any dispute relating to bidding arises during or after the sale, Christie’s decision in exercise of this option isfinal. (b) Christie’s reserves the right to disable or deactivate your account at any time during the sale. 3. Online Bidding Process - Bidding increments (a) Bids may only be submitted between the dates and times specified in the Sale Particulars for that lot. (b) As soon as you place and confirm your bid amount, the bid is submitted (subject to the aggregate credit limit referred to in paragraph B5). You accept and agree that bids submitted in this way are final and that you may not, under any circumstances, amend, retract or revoke your bid. We are not responsible for any errors you make in bidding. Once you have made a bid, the next bidding increment is shown for your convenience on your “Next Bid” button. (c) Bidding generally opens at or below the low estimate and increases in steps (bidding increments) to be determined in Christie’s sole discretion. Bidding opens at a specified bid amount and advances in increments of up to 10%. Bidding increments are as follows: HK$1,000 to HK$2,000 by HK$100 HK$2,000 to HK$3,000 by HK$200 HK$3,000 to HK$5,000 by HK$200, HK$500, HK$800 HK$5,000 to HK10,000 by HK$500 HK$10,000 to HK$20,000 by HK$1,000 HK$20,000 to HK$30,000 by HK$2,000 HK$30,000 to HK$50,000 by HK$2,000, HK$5,000, HK$8,000 HK$50,000 to HK$100,000 by HK$5,000 HK$100,000 to HK$200,000 by HK$10,000 HK$200,000 to HK$300,000 by HK$20,000 HK$300,000 to HK$500,000 by HK$20,000, HK$50,000, HK$80,000 HK$500,000 to HK$1,000,000 by HK$50,000 Above HK$1,000,000 to repeat in the same manner as set forth above (d) Currency Calculator: Christie’s may show bids in other major currencies as well as the currency of the sale, and in certain cryptocurrencies, as specified in the Sale Particulars. Any conversion is for guidance only and we cannot be bound by any rate of exchange shown by the currency calculator. Christie’s is not responsible for any error (human or otherwise), omission or breakdown in providing these services. The display of any particular currency during the auction by Christie’s does not guarantee that you can pay for the lot using that currency. Your payment for the lot is governed by paragraph F. 4. Absentee BiddingServices (a) You may request that Christie’s execute your bid on any particular lot(s) indicated by you in a signed Absentee Bid Form that we make available to you for the sale. All absentee bids must be in the currency of the sale, as indicated in the Sale Particulars for that lot. All absentee bids are subject to clearance by Christie’s Finance and Credit department and must satisfy Christie’s Know Your Customer requirements. To be eligible for this service, you must provide us with a valid email address where wecan contact you. (b) We must receive your signed and completed Absentee Bid Form either physically at our saleroom premises or by contacting the relevant sales specialist no later than 24 hours prior to the scheduled closing of the first lot in the sale. We will not accept any requests after this point nor will we accept any oral requests, unsigned or incomplete Absentee Bid Forms, or any written or emailed requests not on our Absentee Bid Form for the sale you wish to bid upon. (c) You may not cancel your bid after you have sent it to us. You may increase or decrease your bid prior to the expiry of the 24-hour period by sending us an updated Absentee Bid Form for the lot(s). We will notify you (via the email address you provide) when: (i) your bid has been entered into our system; and (ii) if you are the winner of the lot(s) that you have bid upon. We will not send you an email if at the time of our receipt of your bid, your requested bid amount has already been exceeded by another party’s bid on the same lot or if another matching bid has received priority because of the time that we received it. (d) All bids received by us will be time stamped based upon the time that we have received them. Absentee bids will be officially entered by Christie’s prior to the time that the first lot of the sale closes. An online bid that is submitted after an absentee bid is received by us, but before it is inputted by us, will take precedence. In the event that Christie’s receives multiple absentee bids at the same bid amount, the earlier absentee bid received by us will have priority over any later competing absentee bid received by us. In the event that an online bid is placed at the same time that we submit an identical absentee bid, the online bid will take precedence. We are not responsible for failing to execute an absentee bid on your behalf or for our determination of the official time of receipt by us of any bid or absentee bid on a lot. Christie’s may determine in its sole discretion the official time that a bid has been received. (e) Christie’s as auctioneer will take reasonable steps to carry out absentee bids at the lowest possible price, taking into account the reserve, but will not have any liability if it fails to do so. (f) Additional information about our responsibility for bidding services can be found in paragraphG. (g) If there is any conflict between this paragraph C4 and the instructions contained on the Absentee Bid Form, the Absentee Bid Form will take precedence. 5. Reserves (a) All lots are subject to a reserve. The reserve cannot be more than the lot’s low estimate. (b) Under no circumstances will the system place any bid on behalf of the seller at or above the reserve. (c) Christie’s reserves the right, in our absolute discretion, to lower the reserve of any lot in an onlineonlysale prior to the end of the sale. 6. The record of the sale The record of sale (Christie’s records which relate to the sale) will be taken as absolute and final in all disputes. In the event of a discrepancy between any online records or messages provided to you and the record of sale, the record of sale will govern. 7. Withdrawal of lots Christie’s reserves the right, at our complete discretion, to withdraw any lot from the sale, whether prior to or during the auction, and shall have no liability whatsoever with regard to such withdrawal. 8. Employee bidding Employees of Christie’s may be bidding in any online-only sale, however they will have no advantage over other bidders. 9. Closing of a lot (a) A countdown clock is displayed for each lot on the lot description page. Where there is bidding activity on a particular lot within 3 minutes prior to the lot's allocated closing time, there will be a bidding extension so that there will always be a 3-minute period between the last bid and closing time of that lot. These extensions will continue indefinitely until there is no more bidding activity on the lot for a period of 3 minutes. (b) The extension of one lot’s closing time does not affect other lots’ closing times therefore it is possible that lots will close out of numerical lot order. 10. Successful Bids - Auctions The highest bid will be the successful bidder when the lot closes, unless Christie’s decides to use its discretion as set out in paragraph C2 and C7 above. This means a contract for sale has been formed between the seller and the successful bidder. Winning bidders will receive an email notification of any successful bid. Bidders are also requested to log in as soon as possible after the sale to obtain details of the outcome of their successful bid by checking the “My Purchases” tab of the online-only sale. We do not accept responsibility for notifying you of the result of your bids unless you are successful and you should check as soon as possible after the sale to get details of the outcome of your bid. D. CHARGES TO YOU - BUYER’S PREMIUM, TAXES, ONGOING NFT PAYMENTS 1. The Buyer’s Premium We will charge you a buyer’s premium on the hammer price of each lot sold. We calculate the buyer’s premium as follows: On all lots we charge 25% of the hammer price up to and including: HKD5,000,000; 20% on that part of the hammer price over HKD5,000,000 and up to and including HKD50,000,000; and 14.5% of that part of the hammer price above HKD50,000,000. Where applicable, VAT will be added to the buyer’s premium and is payable by you. The VAT may not be shown separately on our invoice because of tax laws. You may be eligible to have a VAT refund in certain circumstances if the lot is exported. Please see the “VAT Refunds” section of ‘VAT Symbols, Explanation and Refunds’ for further information. 2. Tax For the sale of each lot, Christie's will determine whether any applicable tax may be required to be collected from you as the successful bidder in accordance with applicable law. Depending upon applicable law, an NFT will generally be deemed to be delivered to you at the location of your tax domicile or, to the extent it can be determined, the location of the digital asset, unless otherwise agreed by Christie's, with the resulting tax (if any) determined by the applicable tax rates and rules in that jurisdiction. Without limitation, Christie's may have to collect from you tax on your receipt from Christie's in your jurisdiction of a digital service. You are responsible to ascertain and pay all applicable tax on the hammer price and/or the buyer’s premium. Tax charges and refunds depend on your particular circumstances. Tax is payable on the buyer’s premium and, for some lots, tax is payable on the hammer price. Further information can be found in the ‘VAT Symbols, Explanation and Refunds’ section at paragraph I. In the event that your payment is made in cryptocurrency, you will be responsible for any income or other tax arising from your disposition of such cryptocurrency. Further, if we have to refund to you any portion or all of the tax you have paid, any such refund will be in Hong Kong dollars calculated pursuant to the Hong Kong Dollar invoice. Successful bidders may be asked to provide their GST/VAT registration number and status, tax domicile (as applicable) and any other relevant information immediately after the close of the auction. Furthermore, successful bidders claiming an exemption from sales tax must provide appropriate documentation to Christie’s prior to the release of the lot or within 90 days after the sale, whichever is earlier. Christie's recommends you consult your own independent tax advisor with any questions. 3. Ongoing NFT Payments You alone are responsible for determining whether there are any ongoing NFT payments, including any automated fees, commissions or royalties, in the NFT smart contract, which may be due by you to the seller or other third party upon a subsequent transfer of the lot by you to a third party, and by any purchasers of the NFT going forward. Neither Christie’s nor seller is responsible to you for any reason in connection with any ongoing NFT payments, including for making any disclosures to you in connection therewith. E. WARRANTIES AND LIMITATIONS OF LIABILITY 1. Seller’s Warranties, Disclaimers and Limitations of Liability (a) For each lot, the seller gives a warranty that the seller: (i) is the owner of the lot or a joint owner of the lot acting with the permission of the other coowners or, if the seller is not the owner or joint-owner of the lot, has the permission of the owner to sell the lot, or the right to do so in law; (ii) has the right to transfer ownership of the lot to you without any restrictions or claims by anyone else, subject to any ongoing NFT payment that may be included in the NFT; (b) If any of the above warranties are incorrect, the seller shall not have to pay more than the purchase price (as described in paragraph F1(b) below) paid by you to us. The seller will not be responsible to you for any reason for any other damages or expenses, including but not limited to loss of profits or business, expected savings, loss of opportunity or interest, costs, other damages or expenses. The seller gives no warranty in relation to any lot other than as set out above and, as far as the seller is allowed by law, all warranties from the seller to you, and all other obligations upon the seller which may be added to these Conditions of Sale by law, areexcluded. (c) The seller is not responsible to you for any reason, other than in the event of fraud or fraudulent misrepresentation by the seller, or due to a breach of the Seller’s Warranties enumerated in Paragraph E(1)(a). (d) The seller is not responsible to you for any reason to give any representation, warranty, or guarantee, or assume any liability of any kind in respect of any lot or digital asset. The seller cannot and does not represent, warrant, or guarantee that: (i) any lot or digital asset is error-free, meets your requirements, or that errors or defects in the lot or digital asset can or will be corrected; or (ii) the lot or the delivery mechanism for the lot is free of viruses or other harmful components. The seller cannot and does not represent, warrant, or guarantee the persistence, security, stability, integrity or continued existence of any lot or digital asset. (e) The seller has no responsibility to any person other than buyer in connection with the purchase of any lot. (f) TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW: IN NO EVENT WILL THE SELLER BE LIABLE FOR (I) ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES OF ANY KIND (INCLUDING, BUT NOT LIMITED TO, WHERE RELATED TO LOSS OF REVENUE, INCOME OR PROFITS, LOSS OF USE OR DATA, OR DAMAGES FOR BUSINESS INTERRUPTION); (II) ANY DAMAGES ARISING FROM FAILURE TO TRANSFER THE LOT DUE TO SELLER OR BUYER ERROR SUCH AS FORGOTTEN PASSWORDS, MISTYPED ADDRESSES OR INCORRECTLY CONSTRUCTED TRANSACTIONS, INCORRECTLY PROGRAMMED NFTS, MINING ATTACKS, CYBERSECURITY ATTACKS, WEAKNESSES IN CHRISTIE’S SECURITY, BLOCKCHAIN MALFUNCTIONS OR OTHER TECHNICAL ERRORS, TELECOMMUNICATIONS FAILURE, UNFAVOURABLE REGULATORY DETERMINATIONS OR ACTIONS IN ONE OR MORE JURISDICTIONS (INCLUDING WITH RESPECT TO NFTS OR CRYPTOCURRENCIES), TAXATION OF NFTS OR CRYPTOCURRENCIES, PERSONAL INFORMATION DISCLOSURE, UNINSURED LOSSES, UNANTICIPATED RISKS, VOLATILITY RISKS, SERVER FAILURE OR DATA LOSS, CORRUPTED OR OTHERWISE INACCESSIBLE DIGITAL WALLETS, UNAUTHORISED ACCESS TO APPLICATIONS, INABILITY TO ACCESS OR TRANSFER THE NFT, INABILITY TO ACCESS OR DISPLAY THE DIGITAL ASSET, RISKS ARISING FROM THIRD-PARTY PROVIDERS, INCLUDING THIRD-PARTY PROVIDERS THAT MAY MINT THE NFT AND/OR STORE THE NFT OR THE DIGITAL ASSET; AND (III) ANY DAMAGES ARISING FROM ANY UNAUTHORISED THIRD PARTY ACTIVITIES, INCLUDING WITHOUT LIMITATION THE INTRODUCTION OF VIRUSES OR OTHER MALICIOUS CODE, THE USE OF PHISHING, SYBIL ATTACKS, 51% ATTACKS, BRUTEFORCING, CHANGES TO THE PROTOCOL RULES OF THE BLOCKCHAIN (I.E., “FORKS”), OR OTHER MEANS OF ATTACK THAT AFFECT, IN ANY WAY, THE NFT OR DIGITAL ASSET; IN EACH CASE OF (I) – (III) ARISING OUT OF OR IN ANY WAY RELATED TO THE SALE OR USE OF LOTS, NFTS OR DIGITAL ASSETS OR OTHERWISE RELATED TO THESE CONDITIONS OF SALE, REGARDLESS OF THE FORM OF ACTION, WHETHER BASED IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, SIMPLE NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), OR ANY OTHER LEGAL OR EQUITABLE THEORY (EVEN IF THE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE). (g) THE LIMITATIONS SET FORTH IN THIS SECTION WILL NOT LIMIT OR EXCLUDE LIABILITY FOR THE GROSS NEGLIGENCE, FRAUD OR INTENTIONAL, WILLFUL OR RECKLESS MISCONDUCT OF SELLER. (h) Some jurisdictions do not allow the exclusion of certain warranties, disclaimer of implied terms, or limitations or exclusions of liability for incidental or consequential damages in contracts with consumers. As a result, some or all of the exclusions of warranties, disclaimers, and limitations or exclusions of liability in this section may not apply to certain purchasers. 2. Your Warranties (a) You warrant that the funds used for settlement are not connected with any criminal activity, including tax evasion, and you are neither under investigation, nor have you been charged with or convicted of money laundering, terrorist activities or other crimes. (b) You acknowledge and represent that you are bidding as principal and not on behalf of anyone else. Where you are bidding on behalf of another person, you warrant that: (i) you have conducted appropriate customer due diligence on the ultimatebuyer(s) ofthe lot(s) in accordance with all applicable anti-money laundering and sanctions laws, consent to us relying on this due diligence, and you will retain for a period of not less than 5 years the documentation evidencing the due diligence. You will make such documentation promptly available for immediate inspection by an independent third- party auditor upon our written requestto do so; (ii) the arrangements between you and the ultimate buyer(s) in relation to the lot or otherwise do not, in whole or in part, facilitate tax crimes; (iii) you do not know, and have no reason to suspect, that the funds used for settlement are connected with, the proceeds of any criminal activity, including tax evasion, or that the ultimate buyer(s) are under investigation, or have been charged with or convicted of money laundering, terrorist activities or other crimes. 3. Disclaimer of Warranties and Limitation of Liability (a) To the fullest extent permissible under applicable law, Christie’s and the seller disclaim and exclude any and all warranties of any kind relating to the lots and the online-only service, whether express or implied by statute or common law or otherwise. This disclaimer and exclusion does not affect your rights under the warranties by the seller in paragraph E1. (b) We are not responsible to you for any reason (whether for breaching theseConditions of Sale or any other matter relating to your purchase of, or bid for, any lot) other than in the event of fraud or fraudulent misrepresentation by us or other than as expressly set out in these Conditions ofSale. (c) We are not responsible to you for any reason to give any representation, warranty, or guarantee, or assume any liability of any kind in respect of any lot or digital asset. We cannot and do not represent, warrant, or guarantee that: (i) any lot or digital asset is error-free, meets your requirements, or that errors or defects in the lot or digital asset can or will be corrected; or (ii) the lot or the delivery mechanism for the lot is free of viruses or other harmful components. We cannot and do not represent, warrant, or guarantee the persistence, security, stability, integrity or continued existence of any digital asset. (d) We have no responsibility to any person other than a buyer in connection with the purchase of any lot. (e) If we are found to be liable to you for any reason, we shall not have to pay more than the buyer’s premium on the lot paid by you to us. We will not be responsible to you for any reason for any other damages or expenses. (f) TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW: IN NO EVENT WILL CHRISTIE’S OR ANY CHRISTIE’S GROUP COMPANY BE LIABLE FOR (I) ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES OF ANY KIND (INCLUDING, BUT NOT LIMITED TO, WHERE RELATED TO LOSS OF REVENUE, INCOME OR PROFITS, LOSS OF USE OR DATA, OR DAMAGES FOR BUSINESS INTERRUPTION); (II) ANY DAMAGES ARISING FROM FAILURE TO TRANSFER THE LOT DUE TO SELLER OR BUYER ERROR SUCH AS FORGOTTEN PASSWORDS, MISTYPED ADDRESSES OR INCORRECTLY CONSTRUCTED TRANSACTIONS, INCORRECTLY PROGRAMMED NFTS, MINING ATTACKS, CYBERSECURITY ATTACKS, WEAKNESSES IN CHRISTIE’S SECURITY, BLOCKCHAIN MALFUNCTIONS OR OTHER TECHNICAL ERRORS, TELECOMMUNICATIONS FAILURE, UNFAVOURABLE REGULATORY DETERMINATIONS OR ACTIONS IN ONE OR MORE JURISDICTIONS (INCLUDING WITH RESPECT TO NFTS OR CRYPTOCURRENCIES), TAXATION OF NFTS OR CRYPTOCURRENCIES, PERSONAL INFORMATION DISCLOSURE, UNINSURED LOSSES, UNANTICIPATED RISKS, VOLATILITY RISKS, SERVER FAILURE OR DATA LOSS, CORRUPTED OR OTHERWISE INACCESSIBLE DIGITAL WALLETS, UNAUTHORISED ACCESS TO APPLICATIONS, INABILITY TO ACCESS OR TRANSFER THE NFT, INABILITY TO ACCESS OR DISPLAY THE DIGITAL ASSET, RISKS ARISING FROM THIRD-PARTY PROVIDERS, INCLUDING THIRD-PARTY PROVIDERS THAT MAY MINT THE NFT AND/OR STORE THE NFT OR THE DIGITAL ASSET; AND (III) ANY DAMAGES ARISING FROM ANY UNAUTHORISED THIRD PARTY ACTIVITIES, INCLUDING WITHOUT LIMITATION THE INTRODUCTION OF VIRUSES OR OTHER MALICIOUS CODE, THE USE OF PHISHING, SYBIL ATTACKS, 51% ATTACKS, BRUTEFORCING, CHANGES TO THE PROTOCOL RULES OF THE BLOCKCHAIN (I.E., “FORKS”), OR OTHER MEANS OF ATTACK THAT AFFECT, IN ANY WAY, THE NFT OR DIGITAL ASSET; IN EACH CASE OF (I) – (III) ARISING OUT OF OR IN ANY WAY RELATED TO THE SALE OR USE OF LOTS, NFTS OR DIGITAL ASSETS OR OTHERWISE RELATED TO THESE CONDITIONS OF SALE, REGARDLESS OF THE FORM OF ACTION, WHETHER BASED IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, SIMPLE NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), OR ANY OTHER LEGAL OR EQUITABLE THEORY (EVEN IF THE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE). (g) IN NO EVENT WILL THE AGGREGATE LIABILITY OF CHRISTIE’S AND CHRISTIE’S AFFILIATES (JOINTLY), WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), OR OTHER THEORY, ARISING OUT OF OR RELATING TO THESE TERMS OR THE OWNERSHIP OF THE LOTS, EXCEED THE BUYER’S PREMIUM AMOUNT YOU PAY TO CHRISTIE’S FOR THE LOTS. (h) THE LIMITATIONS SET FORTH IN THIS SECTION WILL NOT LIMIT OR EXCLUDE LIABILITY FOR THE GROSS NEGLIGENCE, FRAUD OR INTENTIONAL, WILLFUL OR RECKLESS MISCONDUCT OF CHRISTIE’S. (i) Some jurisdictions do not allow the exclusion of certain warranties, disclaimer of implied terms, or limitations or exclusions of liability for incidental or consequential damages in contracts with consumers. As a result, some or all of the exclusions of warranties, disclaimers, and limitations or exclusions of liability in this section may not apply to certain buyers. 4. Buyer’s Acknowledgements and Representations for NFTs (a) You acknowledge that the NFT is being sold “as is” and neither we nor the seller provide any guarantee in relation to the NFT other than what is expressly set forth herein. (b) You acknowledge that your purchase of the lot means you have full ownership rights in the NFT itself, including the right to store, sell and transfer your NFT. Your purchase of the lot does not provide any rights, express or implied, in (including, without limitation, any copyrights or other intellectual property rights in and to) the digital asset underlying the NFT other than the right to use, copy, and display the digital asset for your own personal, non-commercial use or in connection with a proposed sale or transfer of the NFT and any other right expressly contained in these Conditions of Sale. For the avoidance of doubt, you do not have the right to distribute, or otherwise commercialize the digital asset, or to represent or imply any sort of sponsorship, endorsement, affiliation, or other relationship with the seller and/or the creator of the digital asset without the prior authorization of the seller or the party(ies) that holds such rights. Your rights and interest in the digital asset or NFT provided by these Conditions of Sale will immediately terminate upon any subsequent sale, transfer, dispossession, burning, or other relinquishment of the NFT. (c) You understand and accept that NFTs are minted by third parties unaffiliated with Christie’s, and not by Christie’s itself or on Christie’s behalf. (d) You have conducted adequate due diligence on the smart contract for minting the NFT to confirm the smart contract executes as it is intended to execute. (e) You acknowledge and agree that there are risks associated with purchasing, holding, and using NFTs. By purchasing, holding and using an NFT, you expressly acknowledge and assume all risks including, but not limited to: seller or buyer user error such as forgotten passwords, mistyped addresses or incorrectly constructed transactions, incorrectly programmed NFTs, mining attacks, cybersecurity attacks, weaknesses in Christie’s security, blockchain malfunctions or other technical errors, telecommunications failure, malicious software, unfavourable regulatory determinations or actions in one or more jurisdictions (including with respect to NFTs or cryptocurrencies), taxation of NFTs or cryptocurrencies, personal information disclosure, uninsured losses, unanticipated risks, volatility risks, server failure or data loss, corrupted or otherwise inaccessible digital wallets, unauthorised access to applications, inability to access or transfer the NFT, inability to access or display the digital asset, risks arising from third-party providers, including third-party providers that may mint the NFT and/or store the digital asset, and any unauthorised third party activities, including without limitation the introduction use of viruses or other malicious code, the use of phishing, sybil attacks, 51% attacks, bruteforcing, changes to the protocol rules of the blockchain (i.e., “forks”), or other means of attack that affect, in any way, the NFT or digital asset. If you have any questions regarding these risks, please contact us at info@christies.com. (f) You acknowledge that you have a sufficient understanding of the functionality, usage, storage, transmission mechanisms and other material characteristics of, blockchain technology, NFTs, digital assets, digital wallets, and cryptocurrencies to understand these Conditions of Sale and to appreciate the risks and implications of purchasing NFTs. You acknowledge that you have obtained sufficient information to make an informed decision to purchase an NFT, including reviewing the code of the smart contract, the NFT metadata, and the NFT, as well as the storage system used for the digital asset, and fully understand and accept the functions of the same. By making a payment online with Ether or other cryptocurrency, you (i) warrant that you are the lawful holder of the Ether or other cryptocurrency; and (ii) acknowledge that Christie’s has no liability for your payment not reaching us, including, but not limited to, instances where payment through the blockchain is unsuccessful. It is solely your responsibility to confirm with Christie’s and if applicable, your third-party wallet provider, that the payment has been accepted. (g) You acknowledge that we do not guarantee that you will be able to receive, access or view the lot and/or digital asset. We do not provide any application or other service to enable you to view receive, access or view the lot and/or digital asset, and that it is your responsibility to procure a digital wallet or other means to allow us or the seller to transfer the lot to you and for you to access or view the digital asset upon such transfer. (h) You acknowledge and represent that there is substantial uncertainty as to the characterization of NFTs and other digital assets under applicable law. You acknowledge that your purchase of an NFT complies with applicable laws and regulation in your jurisdiction. F. PAYMENT 1. Purchase Price and How to Pay (a) Within 24 hours of the close of the auction, we will issue the Hong Kong Dollar invoice to you. Subject to paragraph F(1)(f), you must pay the purchase price no later than 48 hours after the Hong Kong Dollar invoice is sent by us to you, or if later, the time specified in the SaleParticulars (the “due date”). (b) The purchase price is the total of the following amounts: (i) the hammer price and the buyer’s premium; and (ii) any applicable duties, goods, sales use, compensating or service tax or VAT or other tax. (c) We will only accept payment from the registered bidder. Once issued, we cannot change the buyer’s name on an invoice or re-issue the invoice in a different name. (d) Subject to paragraph F1(f), you may pay for a lot either in the currency of the sale or in a cryptocurrency permitted by the Sale Particularsfor that lot or otherwise permitted by us. The Hong Kong Dollar invoice will set forth the purchase price in the currency of the sale. If the purchase price is payable in a specified cryptocurrency and you notify Christie’s immediately after the close of auction but no later than 11am (Hong Kong time) of the day following the close of auction of your desire to make the payment in such cryptocurrency, you will receive the cryptocurrency invoice which will specify the amount due both in the currency of the sale and in such cryptocurrency. Partial payment in cryptocurrency is not permitted. If the permitted cryptocurrency of payment is Ether, the cryptocurrency amount(s) payable will be calculated by us by reference to the USD/ETH CoinDesk Ether Price Index (ETX) quoted on the day the cryptocurrency invoice is issued and the USD/ETH rate will then be converted into HKD/ETH using the HKD/USD exchange rate provided by our bank on the day the cryptocurrency invoice is issued. If the permitted cryptocurrency of payment is not Ether, the cryptocurrency amount(s) payable will be calculated by us by reference to equivalent rates applicable to such other cryptocurrency, as determined by us on the day the cryptocurrency invoice is issued and will be disclosed in the cryptocurrency invoice. The amount of cryptocurrency specified in the cryptocurrency invoice is the amount of cryptocurrency that must be received by us if that is the payment option you select regardless of whether the conversion rate at the time of auction or when you pay the cryptocurrency invoice or at any other time is different. (e) You must pay for any lot bought at Christie’s via the online-only sale by a permitted credit or debit card in your name, by bank transfer, or where permitted by us through the transfer of cryptocurrency. (f) Any payment made in cryptocurrency must be made within 24 hours of the issuance of the cryptocurrency invoice set forth in paragraph F1(d). After the expiry of the 24-hour window, you may only make the payment in the currency of the sale and we reserve our right to charge you any hedging fees, service fees or currency exchange loss we incur as a result of your initial selection to pay for the lot(s) in cryptocurrency. 2. Payment Method - Credit and Debit Card Charges (a) Please note that if you pay for your purchase using a credit card issued outside the region of the sale, depending on the type of card and account you hold, the payment may incur a cross-border transaction fee. If you think this may apply to you, please check with your card supplier before proceeding to check-out. (b) We will only accept debit or credit cards with a MasterCard, Visa, American Express or China Union Pay logo (if the China Union Pay credit card has a Visa or MasterCard logo). If you registered and bid as a company, your company will need to pay for any purchases via a debit or credit card issued to the company account. Partial payment of a lot, or payment across multiple debit or credit cards for a single lot, will not be allowed. If you purchase multiple lots, you may purchase one lot with one credit card and another lot with a different credit card but you will need to go through two separate check-outs. (c) Payment information for payments via credit or debit card is collected and processed directly by a third party service provider (“Payment Service Provider”) and not by Christie’s. Please see paragraph G8(b) for further details. Christie’s does not have access to, or retain any credit card information. (d) By making a payment online via credit or debit card, you: (i) warrant that you are the cardholder; and (ii) acknowledge that Christie’s has no liability for your payment not reaching us where, for example payment is refused or declined by your card supplier. It is your responsibility to check with Christie’s and/or your card supplier that the payment has been accepted. 3. Payment Method – Cryptocurrency (a) If specified in the sale, you may make the full payment in a cryptocurrency permitted by us, in which case you must pay for the purchase price via a digital wallet transfer of cryptocurrency to Christie’s. Any payment made in cryptocurrency must be made within 24 hours of the cryptocurrency invoice set forth in paragraph F1(d). (b) You must send payment from a digital wallet maintained with one of the following digital wallet providers: Coinbase Custody Trust; Coinbase, Inc.; Coinbase Singapore Pte Ltd; Fidelity Digital Assets Services, LLC; Gemini Trust Company, LLC; Gemini Europe Limited; Gemini Europe Services Limited; Germini Digital Payments Pte. Ltd; Paxos Trust Company, LLC; Paxos Global Pte Ltd; Digivault Ltd; Ziglu Limited; Archax Ltd; Solidi Ltd; Independent Reserve SG Pte Ltd. Only cryptocurrency payments sent from digital wallets hosted by one of these providers will be credited towards a lot purchase and, for clarity, we will not recognize payments from digital wallets hosted by other providers, or from self-hosted digital wallets. (c) You must be the owner of the digital wallet, or, if you registered a bid as a company, then the company must be the owner. You agree, upon our request, to provide documentation confirming that the cryptocurrency payment was made from a digital wallet owned by you and maintained by one of the providers listed above. Partial payments of a lot from multiple digital wallets will not be allowed. If you purchase multiple lots, you may purchase one lot with payment from one digital wallet and another lot with payment from a different digital wallet but this must be accomplished through two separate transactions. “Ownership” of a digital wallet means either you hold or have held on your behalf, or the company on whose behalf you are bidding holds, or has held on its behalf, the private keys associated with that digital wallet or that the provider of the digital wallet recognizes you or the company on whose behalf you are bidding as owning the cryptocurrency associated with that digital wallet. (d) If you make payment in cryptocurrency from a digital wallet, you represent that the source of wealth for the digital wallet is not attributable, either directly or indirectly, to (i) a person who, because of their citizenship, residency or location of or in a geographic area, is the target of sanctions or embargoes imposed by the European Union, the United Kingdom, the United Nations, the United States or the People's Republic of China or (ii) an individual, or an individual employed by or associated with an entity, identified on the US Department of Commerce’s Denied Persons or Entity List, the US Department of Treasury’s Specially Designated Nationals or Blocked Persons Lists or the US Department of State’s Debarred Parties List or similar lists promulgated by the United Nations or the government of the European Union, the United Kingdom, the United Nations or the People's Republic of China. (e) Please contact Christie’s Client Services for any questions relating to payments. 4. Transferring Ownership toYou (a) You will not own the lot and ownership of the lot will not pass to you until: (i) we have confirmed that you have met all bidder identification and registration procedures; (ii) we have received full, clear and undisputed payment of all amounts due, even in circumstances where wehave already transferred the lot to you; and (iii) you have received the lot in the digital wallet that you have specified. (b) If you have purchased a lot, then the seller will transfer the NFT to you after you have met the conditions in paragraph F4(a)(i) and (ii). The seller will transfer the NFT only to a digital wallet owned by you and that supports the NFT and you understand and accept that failure to ensure this may result in an inability to receive, transfer or access your NFT. If you bid on behalf of a company, then the digital wallet used to accept the NFT must be owned by the company. You agree that we may provide your digital wallet information to the seller in order to execute the transfer. (c) If you have purchased a lot, you represent that the digital wallet to which the seller will transfer the NFT, is not owned by or associated with (i) a person who, because of their citizenship, residency or location of or in a geographic area, is the target of sanctions or embargoes imposed by the European Union, the United Kingdom, the United Nations, the United States or the People's Republic of China or (ii) an individual, or an individual employed by or associated with an entity, identified on the US Department of Commerce’s Denied Persons or Entity List, the US Department of Treasury’s Specially Designated Nationals or Blocked Persons Lists or the US Department of State’s Debarred Parties List or similar lists promulgated by the United Nations or the government of the European Union, the United Kingdom or the People's Republic of China. 5. Transferring risk to you (a) All risk in and responsibility for the lot will transfer to you once the lot sent by the seller or Christie’s to the digital wallet that you have specified, which time may be determined at Christie’s discretion, including through observation of the transfer on the blockchain on which the NFT is stored. (b) You are responsible for implementing reasonable measures for securing the digital wallet or other storage mechanism you use to receive and hold the NFT, including any requisite private key(s) or other credentials necessary to access such storage mechanism(s), and further you specifically acknowledge that the risk of acquiring the NFT from the seller, transferring the NFT to others, and holding or using the NFT or your digital wallet rests entirely with you. If your private key(s) or other access credentials are lost, you may lose access to your NFT. Neither we nor the seller are responsible for any such losses, including, but not limited to, losses arising from third-party service providers. (c) Neither we nor the seller are responsible if the digital asset becomes inaccessible to you for any reason, or for any modifications or changes to the digital asset, including the digital asset being deleted. You acknowledge that the artist or any third party could make additional copies of, and distribute, the digital asset, and could sell or otherwise assign the copyright or other intellectual property rights or economic rights in the digital asset. (d) We are not responsible for any uses you make of the NFT or for any future transfers you make of the NFT. Any and all disclaimers and limitations of liability made by seller and/or Christie’s under this Agreement shall survive and not be terminated or relinquished due to any subsequent sale, transfer, dispossession, burning, or other relinquishment of the NFT by you. You alone are responsible for providing notice to any subsequent purchasers or owners of the NFT of these disclaimers and limitation of liability. 6. What happens if you do not pay? (a) If you fail to pay us the purchase price in full by the due date and in the manner specified in paragraph F1, we will be entitled to do one or more of the following (as well as enforcing our right under paragraph F7 and any other rights or remedies we have by law): (i) We can charge you interest from the due date at a rate of 7% a year above the Hong Kong dollar HIBOR base rate from time to time on the unpaid amount due; (ii) We can cancel the sale of the lot. If we do this, we may sell the lot again, publicly or privately on such terms we shall think necessary or appropriate, in which case you must pay us any shortfall between the purchase price and the proceeds from the resale. You must also pay all costs, expenses, losses, damages and legal fees we have to pay or may suffer and any shortfall in the seller’s commission on the resale; (iii) We can pay the seller an amount up to the net proceeds payable in respect of the amount bid by you in which case you acknowledge and understand that Christie’s will have all of the rights of the seller to pursue you for such amounts; (iv) We can hold you legally responsible for the purchase price and may begin legal proceedings to recover it together with any late-payment interest, legal fees and costs as far as we are allowed by law; (v) We can take what you owe us from any amounts which we or any company in the Christie’s Group may owe you (including any deposit or other part-payment which you have paid to us); (vi) We can at our sole option reveal your identity and contact details to the seller; (vii) We can reject at any future sale any bids made by or on behalf of you or to obtain a deposit from you before accepting your bids; (viii) We can exercise all the rights and remedies of a person holding security over any property in our possession owned by you, whether by way of pledge, security interest or in any other way as permitted by the law of the place where such property is located. You will be deemed to have granted such security to us and we may retain such property as collateral security for your obligations to us; and (ix) We can take any other action we see necessary or appropriate. (b) If you owe money to us or to another Christie’s Group company, as well as the rights set out above, we can use any amount you do pay, including any deposit or other partial-payment you have made to us, or which we owe you, to pay off any amount you owe to us or another Christie’s Group company for anytransaction. 7. Keeping your Property If you owe money to us or to another Christie’s Group company, as well as the rights set out in paragraph F6 above, we can use or deal with any of your property we hold or which is held by another Christie’s Group company in any way we are allowed to by law. We will only release this property to you after you pay us or the relevant Christie’s Group company in full for what you owe. However, if we choose, we can also sell your property in any way we think appropriate. We will use the proceeds of the sale against any amounts you owe us and we will pay any amount left from that sale to you. If there is a shortfall, you must pay us any difference between the amount we have received from the sale and the amount you owe us. G. OTHER IMPORTANT TERMS 1. Our Liability to you (a) We give no warranty in relation to any statement made, or information given, by us or by our representatives or employees about any lot and as far as we are allowed by law, all warranties and other terms which may be added to these Conditions of Sale by law are excluded. The seller’s warranties in paragraph E(1)(a) or in relation to any terms which are implied into contracts by law are their own and we do not have any liability to you in relation to those warranties. (b) We are not responsible to you for any reason (whether for breaking these Conditions of Sale or any other matter relating to your purchase of, or bid for, any lot) other than in the event of fraud or fraudulent misrepresentation by us or other than as expressly set out in these Conditions of Sale. (c) Please be aware that our absentee bidding service (as set out in paragraph C4) and currency converter are free services and we are not responsible to you for any error (human or otherwise), omission or breakdown in these services. (d) We have no responsibility to any person other than a buyer in connection with the purchase of any lot. (e) If, in spite of the terms in paragraphs G1(a) to (d) above, we are found to be liable to you for any reason, we shall not have to pay more than the purchase price paid by you to us. We will not be responsible to you for any reason for loss of profits or business, expected savings, loss of opportunity or interest, costs or for other damages. 2. Events outside the control of Christie’s or theSeller Neither we, you, nor the seller will be responsible for any failure to meet any obligation which we, you or the seller has under these Conditions of Sale or under the Sale Particulars which is caused by circumstances beyond our, your or the seller’s reasonable control. This includes, but is not limited to strikes, lock-outs, fire, flood, natural disasters, war, armed conflict, terrorist attack and nuclear and chemical contamination, corrupted digital wallets, server failure or data loss and any unauthorized third-party activities on the blockchain including, without limitation, the use of viruses, phishing, sybil attacks, 51% attacks, brute forcing, changes to the protocol rules of the blockchain (i.e., “forks”), or other means of attacks against the lot, or any telecommunications failure. 3. Our ability to cancel In addition to the other rights of cancellation contained in these Conditions of Sale, we can cancel a sale of a lot if (i) any of your warranties in paragraph E2 are not correct; (ii) we reasonably believe that completing the transaction is or may be unlawful or (iii) we reasonably believe that the sale places us or the seller under any liability to anyone else or may damage our reputation. 4. Copyright We, or the seller, own the copyright in all images, illustrations and written material produced by or for us relating to a lot (including the contents of our Sale Particulars). You cannot use them without our prior written permission. We do not offer any guarantee that you will gain any copyright or other reproduction rights to the lot. 5. Enforcing these Conditions of Sale If a court finds that any part of these Conditions of Sale are not valid, or is illegal or impossible to enforce, that part of these Conditions of Sale will be treated as being deleted, and the rest of these Conditions of Sale will not be affected. 6. Transferring your Rights andResponsibilities You may not grant a security over or transfer your rights or responsibilities under these Conditions of Sale on the contract of sale unless we have given our written permission. These Conditions of Sale will be binding on your successors, estate and anyone who takes over your rights and responsibilities. 7. Translations If we have provided a translation of these Conditions of Sale, we will use this original version in English in deciding any issues or disputes which arise under these Conditions of Sale. 8. Personal information, Privacy and Data Protection (a) We will hold and process your personal information and may pass it to another Christie’s Group company for use as described in, and in line with our privacy notice: http://www.christies.com/aboutus/contact/privacy/ and if you are a resident of California you can see a copy of our California Consumer Privacy Act statement at https://www.christies.com/about-us/contact/ccpa. (b) Card and other payment information is collected and processed directly by a Payment Service Provider and not by Christie’s. We provide the following information to the Payment Service Provider to enable payment to be processed: (i) name; (ii) billing address; and (iii) transaction amount. The Payment Service Provider may undertake fraud prevention reviews prior to processing any payment or as part of the payment process. Payment specific information which is submitted to the Payment Service Provider is processed on PCI compliant secure servers. The information submitted and used for processing payments is as below: - Name and contact details including shipping and billing addresses - Credit or debit cardinformation - Total transaction value - Your IP address from which you are checking out from (c) Christie’s does not have access to, or retain any credit card or other payment information details. (d) You acknowledge and agree that certain information, including your digital wallet address, may be publicly available on the blockchain. 9. Waiver No failure or delay to exercise any right or remedy provided under these Conditions of Sale shall constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall prevent or restrict the further exercise of that or any other right or remedy. 10. Law and Disputes These Conditions of Sale and any claims arising in connection with these Conditions of Sale or any other rights you may have relating to the purchase of a lot shall be governed by and enforced pursuant to the laws of Hong Kong. Before either we or you start any court proceedings (except where we need to start proceedings to recover outstanding payments and in the limited circumstances where the dispute, controversy or claim is related to a lawsuit brought by a third party and this dispute could be joined to that proceeding) and if we both agree, we shall each attempt to settle the dispute by mediation following the mediation procedure of the Hong Kong International Arbitration Centre (“HKIAC”) with a mediator affiliated with HKIAC and mutually acceptable to each of us. If the dispute is not settled by mediation, you agree, for our benefit, that any dispute will be dealt with exclusively in the courts of Hong Kong. However, we will have the right to bring proceedings against you in any other court. 11. Entire Agreement These Conditions of Sale set forth the entire agreement and understanding between you and us concerning the lot(s). It will replace any and all other agreements or statements between you and us relating to the lot(s). In the event that the smart contract code includes any functionality that is inconsistent with these Conditions of Sale, the terms of these Conditions of Sale shall govern. H. GLOSSARY artist: the individual or entity that created the digital asset. auctioneer: the individual auctioneer and/or Christie’s. authentic: with respect to a digital asset, that the digital asset is a genuine example, rather than a copy or forgery, of: (i) the work of a particular artist, if it is described as the work of that artist; (ii) a work entirely created within a particular period or culture, if it is described as a work created during that period or culture; (iii) a work from a particular origin or source, if the work is described as being of that origin or source. Authorised User: an individual authorized to execute transactions on behalf of an entity which has a registered transactional account. blockchain: a distributed digital ledger of transactions maintained by a distributed peer-to-peer computer network that cryptographically validates transactions and records such transactions on the ledger. buyer’s premium: the charge the buyer pays us along with the hammer price. Christie’s: means Christie’s Hong Kong Limited, which is offering to sell a lot either as agent for the seller or as the owner of the lot. Christie’s Group: Christie’s International Plc, its subsidiaries and other companies within its corporate group. Conditions of Sale: the Conditions of Sale set out above; Important Information, our Explanation of Cataloguing Practice; the explanation of symbols used in the Sale Particulars; and the explanation of the application of VAT or other similar applicable sales taxes. cryptocurrency invoice: the invoice we issue to you stating the purchase price for the lot(s) in cryptocurrency. digital asset: the digital work which the NFT identifies, and with which the NFT is associated. digital wallet: a custodial or hosted software-based device, program, service, or hardware, that allows the owner to receive, store and transfer digital assets, including but not limited to, cryptocurrencies and NFTs, on a blockchain. digital wallet address: a unique alphanumeric string of characters that is associated with and represents the on-chain address for a digital wallet. due date: has the meaning given to it paragraph F1(a). estimate: the price range included in the Sale Particulars within which we believe a lot may sell; low estimate means the lower figure in the range and high estimate means the higher figure; the mid-estimate is the midpoint between the two. hammer price: the amount of the highest bid for the sale of a lot via auction. Hong Kong Dollar invoice: the invoice we issue to you stating the purchase price for the lot(s) in Hong Kong dollars. invoice: if only the Hong Kong Dollar invoice is issued, the Hong Kong Dollar invoice. If both the Hong Kong Dollar invoice and cryptocurrency invoice are issued, it refers to both the Hong Kong Dollar invoice and cryptocurrency invoice. lot: an NFT to be offered for sale at an online auction (or two or more NFTs to be offered for sale as a group). lot description: the description of a lot in the Sale Particulars for the sale, as amended by any notice given to you during the auction. mint: to generate an NFT for a digital asset on a blockchain. NFT (or non-fungible token): a unique digital certificate that identifies (including through a pointer to, or hash of, the digital asset(s)) and is associated with one or more digital assets, which is held and transferred on a blockchain and provides the owner with certain rights to the digital asset(s). NFT metadata: information included within the NFT that includes at least: the name of the digital asset; a description of the digital asset; and the location of where the digital asset is stored or a hash of the digital asset itself (such as a content identifier). ongoing NFT payments: any payments made in connection with the sale and any future payments, in each case that may be configured or programmed into the NFT smart contract, including any payments that are triggered when the NFT is transferred from one digital wallet address to another digital wallet address. online-only sale: a sale of a lot which is conducted solely by means of Christie’s online-only service sale platform. online-only service: a platform and associated technical services accessible solely by online means which enables you to bid for and buy lots through an auction. other damages: : any special, consequential, incidental or indirect damages of any kind or any damages which fall within the meaning of ‘special’, ‘incidental’ or ‘consequential’ under local law owner: with respect to an NFT, the individual or entity that has the private key to the digital wallet that controls the ability to store or transfer the NFT. proceeds of sale: in relation to a lot, the hammer price less any applicable seller's commission (being a percentage of the hammer price), any sale expenses payable by the seller and any other amounts owed to us by the seller. provenance: the ownership history of a lot or digital asset, as applicable. purchase price: has the meaning given to it in paragraph F1(b). reserve: the confidential amount below which we will not sell a lot. Sale Particulars: the lot information (the online description of the lot or lots offered for sale together with other information on the sale website relating to a lot and the conduct of the sale); lot notes; payment information; any on- screen notices displayed as part of a sale; the FAQs and any Special Conditions of Sale which apply to any lot or group of lots offered for sale at the same time. seller: the owner of a lot for whom Christie’s acts as agent. smart contract: the computer code that governs the execution of the NFT. Special Conditions of Sale: any additional conditions which apply to a sale and which are set out in the Sale Particulars. tax: any tax, levy, duty, charge or other impost of whatever nature, including without limitation any VAT, sales, services, compensating use or equivalent impost, which is imposed by any authority competent to do so in any jurisdiction. warranty: a statement or representation in which the person making it guarantees that the facts set out in it are correct. I. VAT SYMBOLS, EXPLANATION AND REFUNDS VAT payable varies by symbol described below – as indicated by the symbol associated with a lot UK VAT Symbol Online auction No symbol This is a UK Margin Scheme supply in accordance with Art. 333 of 2006/112/EC. 20% UK VAT will be charged on the ‘buyers’ premium’ and invoiced on an inclusive basis. ? Lot is subject to standard UK VAT rules and 20% VAT will be charged on the ‘hammer’ and the ‘buyer’s premium’. ? VAT Zero-rated items (UK only). * Lot imported under Temporary Admission. 5% UK import VAT will be charged on the ‘hammer’ and 20% UK VAT will be charged on the ‘buyer’s premium’ and invoiced on an inclusive basis under UK Margin Scheme rules. ? Lot imported under Temporary Admission. Customs Duty at the applicable rate will be charged on the ‘hammer’ and 20% UK import VAT will be charged on the duty inclusive ‘hammer’ price. 20% UK VAT will be charged on the ‘buyer’s premium’ and invoiced on an inclusive basis under UK Margin Scheme rules. ? The wine is offered ‘in bond’. If you choose to buy the wine in bond no excise duty or UK clearance VAT will be charged. If you choose to buy the wine out of bond excise duty at the applicable rate will be added to the ‘hammer price’ and UK clearance VAT at 20% will be added to the duty inclusive ‘hammer price’. Whether you buy the wine in bond or out of bond, VAT at 20% will be added to the ‘buyer’s premium.’ VAT Symbol Fixed Price No symbol This is a UK Margin Scheme supply in accordance with Art 316 and Art 325 of Directive 2006/112/EC ? Lot is subject to standard UK VAT rules and 20% VAT will be charged on the buyer price. ? VAT Zero-rated items (UK only) * Lot imported under Temporary Admission. 5% UK import VAT will be charged on the ‘buyer price.’ ? Lot imported under Temporary Admission. Customs Duty at the applicable rate will be charged on the ‘buyer price’ and 20% UK VAT will be charged on the duty inclusive ‘buyer’s premium.’ ? The wine is offered ‘in bond’. If you choose to buy the wine in bond no excise duty or UK clearance VAT will be charged. If you choose to buy the wine out of bond excise duty at the applicable rate on the ‘buyer price’ and UK clearance VAT at 20% will be added to the duty inclusive ‘buyer price.’ Paris VAT Symbol Online auction No symbol This is a French Margin Scheme supply in accordance with Art. 333 of 2006/112/EC. 20% VAT will be charged on ‘buyers’ premium’ and invoiced on an inclusive basis. No symbol (books only) This is a French Margin Scheme supply in accordance with Art. 333 of 2006/112/EC. 5.5% VAT will be charged on ‘buyers’ premium’ and invoiced on an inclusive basis. + Lot is subject to standard French VAT rules and 20% VAT will be charged on the ‘hammer’ and the ‘buyer’s premium’. ++ Lot is subject to French VAT rules and the reduced rate of 5.5% VAT for books will be charged on the ‘hammer’ and the ‘buyer’s premium’ VAT Symbol Fixed Price No symbol This is a French Margin Scheme supply in accordance with Art 316 and Art 325 of Directive 2006/112/EC. + Lot is subject to standard French VAT rules and 20% VAT will be charged on the buyer price. ++ Lot is subject to French VAT rules and the reduced rate of 5.5% VAT will be charged on the buyer price. Amsterdam VAT Symbol Online auction No symbol This is a Netherlands Margin Scheme supply in accordance with Art. 333 of 2006/112/EC. 21% VAT will be charged on the ‘buyers’ premium’ and invoiced on an inclusive basis. + Lot is subject to standard Netherlands VAT rules and 21% VAT will be charged on the ‘hammer’ and the ‘buyer’s premium’. ++ Lot is subject to Netherlands VAT rules and the reduced rate of 6% VAT for books will be charged on the ‘hammer’ and ‘buyer’s premium.’ VAT Symbol Fixed Price No symbol This is a Netherlands Margin Scheme supply in accordance with Art 313 and Art 325 of Directive 2006/112/EC + Lot is subject to standard Netherlands VAT rules and 21% VAT will be charged on the buyer price. ++ Lot is subject to Netherlands VAT rules and the reduced rate of 6% VAT for books will be charged on the ‘buyer price.’ Geneva VAT Symbol Online auction No symbol 7.7% VAT will be charged on the ‘buyers’ premium’ + Lot is subject to standard Swiss VAT rules and 7.7% VAT will be charged on the ‘hammer’ and the ‘buyer’s premium’. VAT Symbol Fixed Price + Lot is subject to standard Swiss VAT rules and 8% VAT will be charged on the buyer price. Dubai VAT Symbol Online auction * 5% Import Duty will be applied to the hammer price. Duty paid in Dubai is treated as final duty payment as per GCC's customs laws. Import VAT at 5% will be applied to the Duty inclusive hammer price. VAT Symbol Fixed Price * 5% Import Duty will be applied to the buyer price. Duty paid in Dubai is treated as final duty payment as per GCC's customs laws. Import VAT at 5% will be applied to the Duty inclusive hammer price. VAT REFUNDS If you choose to collect the lot in person or via your appointed agent or representative, the applicable VAT and duty charges will be payable before collection. If you arrange your own export or intra-EU shipment and wish to retrospectively apply for a VAT exemption or refund you will need to provide the correct shipping evidence within the required time frame as prescribed by both EU law and the rules of the applicable EUState. J. SYMBOLS Symbols used in Sale Particulars The meaning of words in bold in this section can be found at the end of the Conditions of Sale ? Christie’s has a direct financial interest in the lot. See “Important Notices and Explanation of Cataloguing Practice”. Δ Owned by Christie’s or another Christie’s Group company in whole orpart. ? Christie’s has a direct financial interest in the lot and has funded all or part of our interest with the help of someone else. See “Important Notices and Explanation of Cataloguing Practice”. ~ Lot incorporates material from endangered species which could result in export restrictions. See paragraph G5 of the Conditions of Sale. Φ Lot which may not be able to be shipped to the US. ψ Lot incorporates material from endangered species which is shown for display purposes only and is not for sale. ¤ Bidding by interestedparties. K. IMPORTANT NOTICES AND EXPLANATION OF CATALOGUING PRACTICE Our Sale Particulars entries are not intended to describe the condition of the property and you are recommended to inspect the property yourself. The following expressions with their accompanying explanations are used by Christie’s as standard cataloguing practice. Our use of these expressions does not take account of the condition of the lot or of the extent of any restoration. IMPORTANT NOTICES ? Property owned in part or in full by Christie’s: From time to time, Christie’s may offer a lot which it owns in whole or in part. Such property is identified in the catalogue with the symbol ? in the Sale Particulars. Where Christie’s has an ownership or financial interest in every lot in the catalogue, Christie’s will not designate each lot with a symbol, but will state its interest in the front of the catalogue. ? Minimum Price Guarantees: On occasion, Christie's has a direct financial interest in the outcome of the sale of certain lots consigned for sale. This will usually be where it has guaranteed to the seller that whatever the outcome of the sale, the seller will receive a minimum sale price for the work. This is known as a minimum price guarantee. Where Christie’s holds such financial interest we identify such lots with the symbol ? in the Sale Particulars. ? ? Third Party Guarantees/Irrevocable bids: Where Christie’s has provided a Minimum Price Guarantee it is at risk of making a loss, which can be significant, if the lot fails to sell. Christie’s therefore sometimes chooses to share that risk with a third party who agrees prior to the auction to place an irrevocable written bid on the lot. If there are no other higher bids, the third party commits to buy the lot at the level of their irrevocable written bid. In doing so, the third party takes on all or part of the risk of the lot not being sold. If the lot is not sold, the third party may incur a loss. Lots which are subject to a third party guarantee arrangement are identified in the Sale Particulars with the symbol ? ?. In most cases, Christie's compensates the third party in exchange for accepting this risk. Where the third party is the successful bidder, the third party is required to pay the hammer price and the buyer's premium in full and the third party's remuneration is based on a fixed financing fee. If the third party is not the successful bidder, the remuneration may either be based on a fixed fee or an amount calculated against the final hammer price. The third party may also bid for the lot above the irrevocable written bid. Where the third party is the successful bidder, Christie's will report the purchase price net of the fixed financing fee. Third party guarantors are required by us to disclose to anyone they are advising their financial interest in any lots they are guaranteeing. However, for the avoidance of any doubt, if you are advised by or bidding through an agent on a lot identified as being subject to a third party guarantee you should always ask your agent to confirm whether or not he or she has a financial interest in relation to the lot. ¤ Bidding by parties with an interest When a party with a direct or indirect interest in the lot who may have knowledge of the lot’s reserve or other material information may be bidding on the lot, we will mark the lot with this symbol ¤ . This interest can include beneficiaries of an estate that consigned the lot or a joint owner of a lot. Any interested party that successfully bids on a lot must comply with Christie’s Conditions of Sale, including paying the lot’s full Buyer’s Premium plus applicable taxes. Post-catalogue notifications In certain instances, after the catalogue has been published, Christie’s may enter into an arrangement or become aware of bidding that would have required a catalogue symbol. In those instances, a pre-sale or prelot announcement will be made.
