CURATED NO RESERVE: Japanese & Chinese Asian Art - Including Netsukes & Ceramics

Terms of Business GENERAL 1. Curated Auctions reserves the right, at its discretion, to refuse admission to its premises or attendance at its auctions to anybody. 2. Every person on the auctioneer’s premises, at any time, shall be deemed to be there at his or her own risk. They shall have no claim against Curated in respect of any accident which may result to injury, damage or loss howsoever caused, save insofar as the injury, damage or loss shall be caused by the direct negligence of Curated employees. 3. English law and jurisdiction apply to the interpretation of the Terms of Business. 4. Catalogue descriptions and comparable statements as may appear on our website or other bidding platforms are formed, foremost, in basis of the vendor’s description together with the opinion of our category expert(s). These opinions and estimates ascribed to them serve to aid the buyer gauge the sum involved to acquire the object; they are purely subjective and in no way factual. 5. All lots are sold as seen and may not detail all imperfections, especially minor ones. Absence of a comprehensive description does not imply that the lot is in good condition or untouched from restoration/repair. Notwithstanding this exclusion of liability, Curated will generally not accept items for sale which are in poor condition or deemed to be of insignificant value. 6. Vendor Fees are 10% – a standard £6 charge applies for those unsold or withdrawn (the latter 15% of the lower estimate) to cover listing and administrative cost. Buyers must pay a premium of 25% + VAT if chargeable. Payments are settled to our vendors 14 days following the sale, subject to buyers having paid. 7. These Terms of Business may be revised at any time as subtle changes are made; we will usually email you a notification. BUYERS’ INFORMATION – TERMS OF SALE 1. Interpretation. In these terms the words ‘you’, ‘your’, ‘yourself’, or like pronouns, refer to the buyer. Similarly, those words ‘our’, ‘we’, ‘auctioneer’ refer to Curated, its employees or designated contractor, i.e. sole agent and not an additional principal. Introduction. The following notes are intended to assist bidders, i.e. buyers, particularly those who are inexperienced or new to our saleroom. Curated's Conditions of Business outlined herein govern all auctions, former and future transactions, incorporating the Terms of Consignment (applicable to sellers) and Terms of Sale (applicable to bidders/buyers). By making use of our services you acknowledge having read, understood and agreed to abide by each of our policies; further notices may be publicised in our saleroom or announced by the auctioneer. A printed copy of our full Terms of Business can be requested in person and supplements our catalogues. Our staff shall be ready to particularise on any point you do not fully comprehend. 2. Payment Method. Payments must be executed as soon as possible and no later than 7 days following the auction end. A bank transfer is the generally accepted and preferred method of payment, our details are as follows: Account name: Curated Sort code: 309626 Account number: 57018760 SWIFT: LOYDGB21446 IBAN: GB04LOYD30962657018760 Although we also accept cash (limited to the equivalent of €10,000 in accordance with Money Laundering Regulations), debit/credit cards and cheques. For international transfers, please ensure you have covered bank charges. Other payment alternatives should be discussed prior to bidding. The equivalent of the amount invoiced will have to be fully cleared in British sterling currency before any goods are removed from our premises and ownership passed on to you. In line with legislation, we reserve the right to investigate the source of funds received by us – particularly concerning high-value lots –, postpone or rescind a sale at our own discretion if we suspect the lot to be unlawful or to be detrimental to the reputation of either vendor or Curated. Other protective measures may be taken against either party for infringement, fraudulent activity or otherwise improper conduct. 3. Shipping. All items are sent in-house via FedEx, inclusive of insurance. For exceptional high-value or bulky lots, Curated may choose to appoint the assistance of a trusted private agent. Items will only be shipped to the client’s registered address displayed on the invoice at the point of sale. Curated assumes no personal liability in the event of loss or damage, but will handle any claim with the postal service used. It offers no warranty that this claim will be accepted. 4. Collection and Storage. Curated currently does not offer collections at this time. Payment must be made within 7 working days following the auction end. Further delay will cause the buyer to incur daily storage charges of £15 per lot (plus VAT), irrespective of the lot’s hammer price. 5. Default. Payment (i.e. the entirety of the invoice due including buyer’s premium + VAT) must be paid within 7 days so that we may pay out our vendors punctually. Curated disclaims responsibility for default by either buyer or vendor as it acts only as agent between both parties. Payments to vendors cannot be issued until they are received from the buyer. If following 7 days from the sale payment still has not been received, the auctioneer will inform the vendor and may at his discretion assume any of the following course of action: 1. Exercise a lien on any property of the buyer in Curated's possession until goods are paid fully. 2. Issue legal proceedings against the buyer for breach of contract, comprising damages that might have been incurred to either the auctioneer, the vendor, or both. 3. Rescind the sale of the lot, keeping any non-refundable deposit, and resell the goods by auction of choice, private treaty, or any other means. 4. Reject or disregard any bids placed by the defaulting buyer in any future sale, lest a deposit of at least 50% of the envisaged amount is cleared. Curated reserves the auctioneer’s right to permanently terminate a defaulting buyer’s registration, which will be disclosed to other auctioneers. 5. Retain any lot(s) won by the buyer in any current or former auction with Curated until receipt of full payment. 6. Defaulting buyer authorises Curated, anytime following 7 days of non-payment, to charge their credit card recorded on any of its operating auction platforms. They agree not to file any chargebacks as a result to this, or file any legal claims which may harm Curated's reputation. 7. Remove, store and insure the lot at the buyer’s cost. 8. Charge the defaulting buyer all the charges and expenses of the re-sale (including but not limited to) any commissions for the rescinded sale which remain unpaid and the deficiency (if any) between the hammer price of the initial sale and that of the rescinded sale. 6. Liability. As an auctioneer, we contract as agent for the seller whose identity, for reasons of confidentiality, cannot be disclosed without their written consent. As such, any contract for goods is between yourself (the buyer) and the seller. Statements which can be found in the catalogue such as authenticity, attribution, period, authorship, date, or those relating to the quality of a lot where imperfections might not always be stated should not be taken as factual. Neither Curated, its employees nor the vendor offers any warranty on the aforementioned aspects. Only if a lot is proven to have been misdescribed as a “deliberate forgery” (you will have to supply us with a satisfying written document from a recognised specialist) may it be returned to us in the condition bought and fully refunded. This includes the written documentation, the reasonable cost of which we will bill the vendor; we allow a period of 21 days for this to be done from the sale date. 7. Buyer Responsibility. Curated is liable for any object only till the fall of the hammer and conclusion of sale, whereupon the purchaser shall remove the goods at their own risk of loss or damage. Any liability there may be on part of the auctioneer or their employees prior to the fall of the hammer, such as loss or breakage, is restricted to the maximum of the amount paid by the buyer. 8. Estimates. Estimates are designed to help our buyers evaluate the sum which might be involved in acquiring a certain lot. Our experts’ appraisals are subjectively founded on factors such as an object’s condition, rarity, age, brand, artist, provenance, and concluded prices of similar archived objects. An estimate by no means determines the precise sale figure/value of an item as it is often dependent on theoretical factors e.g. “luck” or sentimental worth. Estimates may be subject to announced – written or verbal – alteration prior to a sale; the lower might represent the reserve price (the minimum price the seller is prepared to sell their object for) but will not be below it. Estimates exclude the buyer’s premium and VAT (where chargeable). 9. Buyer’s Premium. As per Curated's Terms of Sale, a 25% buyer’s premium is added to each lot and payable on the fall of the hammer. Additionally, VAT at 20% is charged on the premium. Lots purchased through the services of ATG Media (www.the-saleroom.com) are subject to a further fee of 4.95% – this amount is collected by us on behalf of the platform. This latter fee varies based on the bidding platform, such as Invaluable. 10. VAT. Objects in our catalogue may be marked with an alpha (α) symbol to indicate that VAT is payable by the buyer on the hammer price and the buyer’s premium at either the current standard rate (20%) or a reduced rate (5% [Ω]), depending upon the legal requirements relating to the specific lot. Lots which appear without either symbol signify that no VAT is chargeable on the hammer price, because they are sold using the Auctioneers' Margin Scheme. VAT included within the premium is not recoverable as input tax. 11. Ivory & Cites Regulations. At Curated we strive to support and remain in compliance with CITES (the Convention on International Trade in Endangered Species of Wild Fauna and Flora) regulations. Such items as ivory, taxidermy and antique furniture made of tropical woods like rosewood may be sold if they accompany a CITES certificate; criteria for obtaining one can vary depending on species or export destination. Not all these items require a CITES license, however, for example portrait miniatures made prior to 1918 or objects consisting of less than 10% ivory and made before 1947. Lots marked with the symbol π could be exposed to CITES Regulations when exporting. Extra information can be found here: https://www.gov.uk/guidance/cites-controls-import-and-export-of-protected-species. 12. Jewellery. Gemstones are often treated to enhance their appearance. Sapphires and rubies are routinely heat-treated to improve their colour and clarity; likewise, emeralds are frequently treated with oils or resin for the same purpose. Other treatments such as staining, irradiation or coating may have been used on other gemstones. These treatments may be permanent whilst others may need special care or re-treatment over the years to retain their appearance. Estimates reflect the possibility that gemstones may have been subjected to such treatments unless they are accompanied by a recognised laboratory certificate such as GIA. If mentioned, the carat weight of a gemstone is approximate only, particularly if this stone is mounted. Reference in the title to the period or designer (e.g. Art Deco, Cartier), whether signed or unsigned, and based on similar models, is the auctioneer’s honest opinion. 13. Artist’s Resale Right/Droit De Suite. Lots marked with a (β) symbol are potentially subject to a levy. “Droit de Suite” is a royalty payable to a qualifying artist or the artist's heirs each time a work is resold during the artist's lifetime and up to a period of 70 years after the artist's death. Royalties are calculated on a sliding percentage scale based on the hammer price excluding the buyer's premium. The royalty does not apply to lots selling below the sterling equivalent of €1,000 and the maximum royalty payable on any single lot is the sterling equivalent of €10,000. Droit de Suite, which is not subject to VAT, will be added to the buyer's purchase price and then passed on to the relevant collecting agency. Please enquire for the accepted exchange rate on the day of the sale. Royalties for Droit de Suite are as follows: 4% Up to €50,000 3% €50,000.01 - 200,000 1% €200,000.01 - 350,000 0.5% €350,000.01 - 500,000 0.25% In excess of €500,000 Up to a maximum levy of €10,000 For all questions relating to the regulations of Droit de Suite royalty charges, please see: www.dacs.org.uk, telephone +44 (0)845 410 3410, or email arr@dacs.org.uk. 14. Firearms. Lots marked with an ∑ symbol are subject to the UK firearms/shotgun licensing regime, and may only be viewed and/or purchased by individuals with appropriate licences. Such lots are offered on an auctioneers' permit and must be collected prior to the expiry thereof, and upon producing evidence of compliance with all UK firearms regulations. 15. Inspection of Goods. As the agent between buyer and seller, we rely primarily on the information provided to us by the seller regarding the overall condition of goods they wish to sell. Although we will personally inspect an object, the description we provide for it is general only as opposed to a more thorough, detailed examination. For this reason, we strongly recommend our buyers to view the item in person on our viewing day, this in order to minimise disappointment or dispute following the sale. Antique and vintage items will typically demonstrate mild signs of wear and tear commensurate age, thus are not to be considered new or in excellent condition. Prior to the day of the sale, a condition report can be requested from us by email, where we shall aim to provide a more elaborate description with added photographs if necessary based solely on the expert’s opinion. This opinion is intended for guidance only – please note judiciously that neither Curated, as auctioneer, nor the seller, accept any responsibility for its complete accuracy or lack thereof. 16. Photography. We endeavour to showcase each item as clearly as we can with the purpose of giving you the most truthful impression. Our advanced macro photography is intended to compensate for any errors or shortage of information in the description, revealing flaws that might have passed unnoticed by the seller. Some photographs, mainly jewellery and miniature items, may appear enlarged (for example to reveal the inclusions in a diamond ring which would be difficult to see with the naked eye). All photographs and illustrations are the intellectual property rights of Curated or its licensors and cannot be used in any way other than fair usage unless permission by the auctioneer is granted. The auctioneer maintains absolute control over how it desires to use/reuse its photographs, prior or post sale, for elements of marketing through social media, including its own website, printing catalogues, press release. Intellectual property includes without limitation the company’s photos, audio-visual material, logo, texts, images, design, software, database, etc. 17. Electrical & Mechanical Goods. These are sold as “antiques” and therefore may or may not be functioning. If intended for usage, you must have them verified by a qualified electrician to ensure they comply with safety regulations. Clocks, automatons and watches, primarily those which fall into the antique or vintage age bracket, are likely to have been repaired and may have had some parts replaced or missing. Though such a lot might apparently be in full or partial working condition on inspection, its accuracy and functionality should be considered unreliable post-sale. 18. Exportation. Buyers intending to export goods must establish whether: 1) an export license is essential and 2) whether the nature of the goods in question are prohibited, such as one that might contain ivory. It is the buyer’s responsibility to research whether any import duties are chargeable, and if so this charge is exclusively imposed onto them. 19. Bidding. All bids are legally-binding and cannot be retracted. Bidders must register before the commencement of each auction. If bidding for the first time with us, a form of identification such as a driving license or passport may be asked, supplementary to other relevant info we may need. Commission bids must be arranged with us at least one hour before the commencement of the auction, so that we have ample time to conduct any necessary checks. All present and future lots will be invoiced to the name and address you use to create your account – we will not ship to a secondary address unless a formal request is made by writing, electronically or by post. Curated reserves the right, at the auctioneer’s discretion, to refuse your registration if you haven’t provided us with all the documentation we ask, particularly when you are a first-time bidder anticipating bidding on high-value objects. If a dispute arises during an auction, it is at the auctioneer’s discretion to resolve it or re-offer the lot in a future sale. By this same discretion, the auctioneer can regulate bidding activity (it is forbidden for vendors to bid on their own items or those of someone connected to them), cancel a sale, withdraw, combine or divide two or more lots, bid on the vendor’s behalf conditional to the reserve. 20. Commission/Absentee Bidding. You may wish to leave an absentee bid with the auctioneer if you are unable to bid for yourself on the certain date or time of the auction. Providing the maximum amount you’re ready to pay (non-inclusive of buyer’s premium or chargeable VAT) is received at least one hour before the start of the sale (any later is not guaranteed), the auctioneer shall bid on your behalf. The bids will be placed as economically as feasible, in consideration towards the reserve (if any) and competing bids. If two identical bids are placed, the auctioneer may prefer the first bid received, where this can be ascertained. 21. Telephone Bidding. We offer telephone bidding as a live alternative, but only for higher-value lots with a lower estimate of £250 or over. International bidders are also welcomed to bid in this way, but as we have limited lines telephone bidding must be booked at least 24 hours prior to the sale by email notice (see contact info). While we shall do our best to accommodate your telephone request as efficiently as possible, we cannot be held liable if, for whatever mischance, your bids are missed. 22. Live Bidding. You must register for the auction which you wish to participate in on the conduit you want to use (note each conduit has its own different fee). A current breakdown of additional cost is detailed below: easyliveauction.com – 3.00% (+ VAT) on the hammer price of all lots purchased or a flat fee of £3.00 is taken by Easylive. Note: This fee will be taken regardless of whether you bid on or purchase lots. the-saleroom.com – 4.95% (+ VAT) Invaluable.com – 5% (+ VAT) Liveauctioneers.com – 5% (+ VAT) 23. Increments. Bidding increments shall be at the auctioneer’s sole discretion.