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CONDITIONS OF SALE
The properties listed in this catalogue, as may be amended by sale room notice or announcement, will be offered and sold by Christie, Manson & Woods International Inc. (Christie's) as agent for various owners on the following terms and conditions. These CONDITIONS OF SALE, THE LIMITED WARRANTY, and ABSENCE OF OTHER WARRANTIES, together with any glossary contained herein, are the complete terms and conditions on which all property listed in this catalogue shall be offered for sale, sold or purchased.
1. As used in these Conditions of Sale, the term "The Final Bid" means the price at which a lot is knocked down to the Buyer, and the term "The Purchase Price" means the aggregate of the final bid and the premium payable by the Buyer under Condition 5.
2. The highest bidder acknowledged by the auctioneer shall be the Buyer. In the event of any dispute between bidders the auctioneer shall have the sole and final discretion either to determine the successful bidder or to re-offer and re-sell the article in dispute. Should there beany dispute after the sale, Christie's record of final sale shall be accepted as conclusive. The auctioneer has the right to reject any bid and to advance the bidding at his absolute discretion.
3. (a) The Seller shall be entitled to place a reserve on any Lot, which is the confidential minimum price below which the Lot will not be sold. The Lot number of any Lot subject to a reserve will be marked. Christie's may apply the reserve price by bidding through its representatives on behalf of the Seller(s).
(b) Christie's shall have the right to withdraw or divide any Lot or to combine any two or more Lots at its sole discretion.
(c) If the auctioneer determines that any opening bid is not commensurate with the value of the article offered, he may reject the same and withdraw the article from sale, and if, having acknowledged an opening bid, he decides that any advance thereafter is not of sufficient amount, he may reject the advance.
4. At the fall of the auctioneer's hammer, the Buyer shall forthwith assume full risk and responsibility for the Lot and may be required to:
(a) Sign a confirmation of purchase thereof.
(b) Supply his name and address.
5. The Purchase Price payable by a Buyer shall be the aggregate of the final bid and a premium of 10% of the final bid. Notwithstanding that Christie's acts only as agent for the Seller, Christie's has been authorized by the Seller to retain the premium referred to above out of the Purchase Price d ue the Seller as part of the remuneration it receives from the Seller. In certain instances the Seller may pay Christie's less than the standard commission rate.
6. The Buyer may be required to pay down forthwith the whole or any part of the Purchase Price, and if he fails to do so the Lot or Lots may at the auctioneer's absolute discretion be put up again and resold.
7. No Lot can be taken away during the times of Sale, nor can any Lot be taken away unless the Purchase Price thereof has first been paid in full. All Lots are to be so paid for and taken away at the Buyer's expense within seven days from sale, and, if not taken away and-paid for, may be sent by Christie's to a public warehouse for the account, risk and expense of the Buyer. Christie's will deliver any Lot to a Buyer outside of this State, provided instructions are given and payment made for all packing, shipping and insurance charges at the time the Purchase Price is paid.