First Summer Auction of Rare Asian Arts

Hotspot Auctions - terms and conditions All bidders must be 18 years of age or older. All information on registration form must be current, complete and accurate. 1, All items are sold as is, where is, with all faults. All bidders are encouraged to use due diligence and inspect all items prior to bidding. There are no warranties or representations of merchantability, fitness, nor of any other kind, express or implied. Know that your bidding will signify that you have examined the items as fully as you desire, or that you have chosen not to examine them. Written and oral descriptions are our opinions and should in no way be construed as a guarantee of any kind as to age, condition, materials or any other feature of items being sold. Our goal is to provide prospective bidders with accurate and detailed information. If you require absolute certainty in all areas of authenticity, and the results of your evaluation leave uncertainty in your mind, we recommend you not bid on the item in question. We do not give refunds. All sales are final. No statement written or oral made by the auctioneer shall be deemed a warranty or assumption of liability by Hotspot Auctions or by any seller represented by Hotspot Auctions. Autopay: We will charge the credit card which you used to register for the auction, for the amount of your invoice if you have not contacted Hotspot Auctions to arrange your payment within 3 days after the invoice was sent. 2. Bidding will begin at a price appropriate in auctioneer’s discretion. The auctioneer always reserves the right to withdraw a lot for any reason he deems appropriate. At the auctioneer’s discretion, no bid of less than one half the low estimate will be accepted from any source: phone bidding, absentee bidding, online bidding, or bidding in the gallery. All lots in this catalog are offered subject to a reserve, which is the confidential minimum hammer price at which a lot will be sold. In executing a reserve, the auctioneer has the right to bid on behalf of the Consignor, whether by opening bidding or continuing bidding in response to other bidders until reaching the reserve. If the reserve is not met, the Auctioneer has the right to withdraw the item from the sale. 3. Online registration and bidding approval is done at the sole discretion of the auction house. We recommend that online bidders sign up at least 3 days in advance of the auction to allow for time to complete the approval process. It is important to note that we make no guarantees that new online bidders who register within 24 hours of the sale will be approved for bidding. After signing up to bid, new online bidders may receive a message requesting additional information; we cannot approve any client without the requested information. Parties who wish to bid on premium lots may be asked to submit a deposit by wire transfer. Correspondence between prospective clients and the Auction House must be established directly with Hotspot Auctions through phone or one of the relevant email addresses. We make no guarantee that we can respond to requests submitted through third party messaging systems. Due to the high volume of inquiries made within 24 hours of the sale, we make no guarantee that clients who contact us during this period will receive a response. Bids left on Live Auctioneers are not executed until the item is offered in the live auction therefore the order in which those bids are received is not a factor. We will make every effort within reason to accept and process bids from online participants. Hotspot Auctions will not accept liability for any bids missed due to clerking issues, operator error, equipment failure, connection delays, communication lapses, or technical malfunctions of any nature. By registering for the Auction, Bidder agrees to Hotspot Auction’s Terms and Conditions. These Terms and Conditions may be updated from time to time prior to the Auction. Such form of acceptance by Bidder is binding. 4. For prospective bidders who cannot be present at the auction, we are pleased to offer absentee and phone bidding. Please complete the Absentee Bid and/or Phone Reservation form. Absentee bids are executed competitively and confidentially. All reservations for phone bidding are held in the strictest confidence and must be received by 5 pm the day before the auction. No additional phone bids can be accepted on the day of the auction including additions when speaking with a staff person on the phone. Leaving an absentee or phone bid on a lot indicates your willingness to open the bidding at one half the printed low estimate, and gives the auctioneer the authority to open the bidding at that level. Hotspot Auctions shall have the right to withdraw any item at any time for any reason and to default any sale in the event of an error or dispute. 5. Note to internet absentee bidders. We do not accept cut bids (bids less than the last interval) from the floor or from phone bidders, and we do not accept them from internet bidders. Thus, it is possible that a lot could go to another bidder for less than your absentee bid. For example, if the bids are progressing in ten-dollar increments, $50, $60, $70 and your absentee falls at $75, we will not take the bid since it is less than the $10 interval. We always encourage bidders to bid by phone or to leave absentee bids through our gallery to avoid such a situation. 6. Once an item is declared sold, bidding cannot reopen. It is the bidder’s responsibility to get our attention prior to our saying “sold”. We reserve the right to reject any bids deemed inappropriate or to withdraw any item(s) for lack of appropriate bids. If an item is withdrawn from the auction, it will be offered again only at the auctioneer’s discretion. 7. Payment is expected at the time of purchase. Payment for successful absentee, phone bids and online bids are required within five business days of the auction. Bidding on an item indicates the client’s acceptance of our Terms of Sale. Your signature on our Bid Form or acceptance of these terms through any online bidding platform constitutes permission to charge successful bids to credit cards if payment is not received within five days of the auction. 8. Payment must be made by cash, approved check, wire transfer, or MasterCard, Visa, Discover and American Express credit cards. We reserve the right to require bank checks for large purchases. Buyers not known to us who wish to write a check must provide a current letter of credit from their bank guaranteeing funds for that account. We reserve the right to not issue a buyer’s number or to withhold merchandise if appropriate credit has not been established. We require wire transfers for international buyers. First time buyers will be required to pay by wire transfer or cashier’s check. 9. In the case of identical absentee bids, the bid received first will prevail. Bids left on Live Auctioneers are not executed until the item is offered in the live auction and the order in which they are received is not a factor. We sell 20-30 lots per hour. Please refer to the bidding increments. 10. In our experience, cellular phones are not always dependable, and we recommend phone bidding reservations be made on land lines. We make every effort to honor all absentee and phone bid reservations, but we are not liable for any losses incurred as a result of failure to execute absentee bids or failed phone reservations. Submitting absentee bids or bidding by phone does not imply an extension of credit. Please see numbers 4 and 5 above. 11. Shipping is primarily handled by our staff with in-house shipping, and multiple third-party shippers for large items. When a client has won an item, shippers will be notified and will contact clients with quotes. Property will not be released without the buyer's written consent. Buyer is responsible for the cost of packaging and shipping. Shipping handled by Hotspot Auctions will be at the entire risk of the purchaser and Hotspot Auctions will have no liability of any loss of damage to such items. 12. All purchases are subject to applicable New York sales tax unless the New York Certificate of Resale tax form is fully and completely filled out and received prior to the time of purchase. Resale tax numbers from other states are accepted. International buyers are responsible for tariffs, taxes, or assessments of shipped items to the buyer’s country. 13. Bidding on an item indicates your understanding and acceptance of these Terms of Sale. If a purchaser breach any of these Terms of Sale, including the obligation to pay for purchased items, Hotspot Auctions may seek all remedies under the law including canceling the sale and reoffering the property without reserve. 14. A buyer’s premium will be applied to the purchase price of all items: $0-50,000 26%, 50,001-99,999 22%, $100,000-999,999 20%, $999,999+ 15% across all platforms. 15. Purchased items not picked up from our auction facility within ten business days of the auction will be assessed a storage fee of $15.00 per day, per item. You authorize us to re-sell on your behalf any item not picked up within 45 calendar days. The costs of storage, plus any other costs directly related to the item, and an auctioneer’s commission of 20%, will be subtracted from the proceeds unless other arrangements have been made with Hotspot Auctions. The minimum charge will be $50. The net proceeds will be mailed to your address as stated herein in full and final settlement of our obligations to you. 16. Export and Permits: It is the purchaser’s sole responsibility to identify and obtain any necessary export, import, firearm, endangered species or other permit for the lot. Any symbols or notices in the sale catalogue reflect Hotspot Auctions’ reasonable opinion at the time of cataloguing and are for bidders’ general guidance only; Hotspot Auctions and the Consignor makes no representations or warranties as to whether any lot is or is not subject to export or import restrictions or any embargoes. 17. Endangered Species: Certain property sold at auction, for example, items made of or incorporating plant or animal materials such as coral, crocodile, ivory, tortoiseshell, whalebone, etc., irrespective of age or value, may require a license or certificate prior to exportation and additional licenses or certificates upon importation to another country. Hotspot Auctions suggests that international buyers check on foreign governments’ wildlife import requirements prior to placing a bid. All buyers agree to comply with any and all domestic and international restrictions on the trade of endangered species as a condition of the sale. Please note that the ability to obtain an export license or certificate does not ensure the ability to obtain an import license or certificate in another country, and vice versa. It is the purchaser’s responsibility to obtain any export or import licenses and/or certificates as well as any other required documentation. In the case of denial of any export or import license or of delay in the obtaining of such licenses, the purchaser is still responsible for making on-time payment of the total purchase price for the lot. Although licenses can be obtained to export some types of endangered species, other types may not be exported at all, and other types may not be resold in the United States. Hotspot Auctions is not able to assist the purchaser in attempting to obtain the appropriate licenses and/or certificates, and there is no assurance that an export license or certificate can be obtained. Please check with our specialists if you are uncertain as to whether a lot is subject to these export/import license and certificate requirements, or any other restrictions on exportation. 18. Hotspot Auctions makes no warranty or guarantee whatsoever regarding the jewelry, its colored stones, diamonds, other gem materials, or metals, or as to their status as natural, treated, earth mined, manmade or other. Appraisals, descriptions, photographs, are offered as a service and are not intended to be a complete analysis of the qualities and conditions of the jewelry. All identifications, information, weights, quality, cut, value and other estimates, are opinions, limited by examination and grading the mountings, the condition and cleanliness of the items. All gems, colored stones, diamonds, cultured or natural pearls, fresh water, south sea, Tahitian pearls, and other materials used in jewelry, may be enhanced by a variety of treatments. Lauren Galleries makes no warranties or guaranties that any clock or watch is in working order. Natural pearls, fresh water, south sea, Tahitian pearls, and other materials used in jewelry, may be enhanced by a variety of treatments. Hotspot Auctions makes no warranties or guarantees that any clock or watch is in working order. 19. Condition of artworks and paintings. Hotspot Auctions or its’ employees or agents make no warranties or representations whatsoever concerning the condition or authenticity of any paintings and frames. Hotspot Auctions encourage all bidders to use due diligence and inspect all items prior to bidding. 21. We may change these Terms of Use from time to time, at any time without notice to you, by posting such changes on the Hotspot Auctions’ Website. We highly suggest you periodically check the Terms of Use. It is your responsibility to do so. Bid Increments Price Bid Increment $0 $10 $50 $25 $500 $50 $1,000 $100 $2,000 $250 $5,000 $500 $10,000 $1,000 $25,000 $2,500 $50,000 $5,000 $100,000 $10,000