The following Conditions of Sale, as amended by any
published or posted notices or verbal announcements
during the sale, constitute the entire terms and conditions on
which property listed in the catalog shall be offered for sale
or sold by Bonhams & Butterfields Auctioneers Corp. and
any consignor of such property for whom Bonhams acts as
agent. By participating in this sale, you agree to be bound by
these terms and conditions.
If live online bidding is available for the subject auction,
additional terms and conditions of sale relating to online
bidding will apply; see Conditions of Website use at www.
bonhams.com/WebTerms for the supplemental terms. As
used herein, “Bonhams,” “we” and “us” refer to Bonhams &
Butterfields Auctioneers Corp.
1. As used herein, the term “bid price” means the price
at which a lot is successfully knocked down to the buyer.
The term “purchase price” means the aggregate of (a) the
bid price, (b) a PREMIUM retained by us and payable by
the buyer (the “buyer’s premium”), EQUAL TO 27.5% OF
THE FIRST $25,000 OF THE BID PRICE, PLUS 26% OF
THE AMOUNT OF THE BID PRICE ABOVE $25,000 UP
TO AND INCLUDING $1,000,000, PLUS 20% OF THE
AMOUNT OF THE BID PRICE ABOVE $1,000,000 UP
TO AND INCLUDING $6,000,000, PLUS 14.5% OF THE
AMOUNT OF THE BID PRICE ABOVE $6,000,000, and (c)
unless the buyer is exempt by law from the payment thereof,
any Alabama, Arizona, California, Colorado, Connecticut,
Florida, Georgia, Hawaii, Idaho, Illinois, Iowa, Indiana, Kansas,
Kentucky, Louisiana, Maine, Maryland, Massachusetts,
Michigan, Minnesota, Mississippi, Nebraska, Nevada, New
Jersey, New Mexico, New York, North Carolina, Ohio,
Oklahoma, Pennsylvania, Rhode Island, South Carolina,
Tennessee, Texas, Utah, Virginia, Washington, D.C.,
Washington state, West Virginia, Wisconsin, Wyoming or
other state or local sales tax (or compensating use tax) and
other applicable taxes. With regard to New York sales tax,
please refer to the “Sales and Use Tax” section of these
Conditions of Sale.
2. In order to bid at the sale, prospective bidders must
submit to Bonhams a completed bidder registration and
any other requested information or references. New bidders
and bidders who have not recently updated their registration
information must pre-register to bid at least two (2) business
days before the sale. Individuals will be required to provide
government-issued proof of identity and proof of address.
Entity clients will be required to provide documentation
including confirmation of entity registration showing the
registered name, confirmation of registered address,
documentary proof of officers and beneficial owners, proof of
authority to transact on behalf of the entity and governmentissued proof of identity for the individual who is transacting on
the entity’s behalf.
We may also request a financial reference and/or deposit
from bidders before approving the bidder registration. In the
event a deposit is submitted, and you are not the successful
bidder, your deposit will be returned to you. If you are the
successful bidder, any such deposit will be credited to offset
the appropriate portion of the purchase price.
We reserve the right to request further information, including
regarding the source of funds, in order to complete
bidder identification and registration procedures (including
completing any anti-money laundering and/or anti-terrorism
financing checks we may require) to our satisfaction. If our
bidder identification and registration procedures are not
satisfied, we may, in our sole discretion, decline to register
any bidder or reject any bid or cancel any sale to such bidder.
Every bidder shall be deemed to act as a principal unless
prior to the commencement of the sale there is a written
acceptance by Bonhams of a bidder registration form
completed and signed by the principal which clearly states
that the authorized bidding agent is acting on behalf of
the named principal. Absent such written acceptance by
Bonhams, any person placing a bid as agent on behalf of
another (whether or not such person has disclosed that fact
or the identity of the principal) may be jointly and severally
liable with the principal under any contract resulting from the
acceptance of a bid. Every bidder shall be responsible for
any use of its assigned paddle or bidding account, regardless
of the circumstances.
3. You represent and warrant that: (i) you have provided
to us, or will provide upon request, true and correct copies of
valid identification and proof of residence and, if applicable,
financial and/or corporate documents; (ii) neither you, your
principal (if applicable, and subject to Bonhams’ prior written
acceptance pursuant to section 2 above), nor any individual
or entity with a beneficial or ownership interest in either the
purchased property or in the purchase transaction is on
the Specially Designated Nationals List maintained by the
Office of Foreign Assets Control of the U.S. Department of
the Treasury nor subject to any other sanctions or embargo
program or regulation in effect in the United States, European
Union, England and Wales, or other applicable jurisdictions
(such programs and regulations, collectively, “Sanctions”);
(iii) if you are acting as an agent for a principal, you have
conducted appropriate due diligence into such principal,
and agree that Bonhams shall be entitled to rely upon such
due diligence, you will retain adequate records evidencing
such due diligence for a period of five (5) years following
the consummation of the sale, and will make these records
available for inspection upon Bonhams’ request; (iv) neither
the purchase transaction (including your bidding activity) nor
the purchase funds are connected with nor derive from any
criminal activity, and they are not designed to nor have they
or shall they, violate the banking, anti-money laundering, or
currency transfer laws or other regulations (including without
limitation, import-export laws) of any country or jurisdiction,
or further any other unlawful purpose, including without
limitation collusion, anti-competitive activity, tax evasion or tax
fraud; and (v) property purchased by you or your principal (if
applicable) hereunder is not and will not be transferred to or
used in a country in contravention of any Sanctions.
You acknowledge and agree that we may rely upon the
accuracy and completeness of the foregoing warranties.
4. On the fall of the auctioneer’s hammer, the highest
bidder shall have purchased the offered lot in accordance
and subject to compliance with all of the conditions set forth
herein and (a) assumes full risk and responsibility therefor, (b)
if requested will sign a confirmation of purchase, and (c) will
pay the purchase price in full or such part as we may require
for all lots purchased. No lot may be transferred.
Unless otherwise agreed, payment in good, cleared funds is
due and payable within five (5) business days following the
auction sale. Whenever the buyer pays only a part of the
total purchase price for one or more lots purchased, we may
apply such payments, in our sole discretion, to the lot or lots
we choose. Payment will not be deemed made in full until
we have received good, cleared funds for all amounts due.
Title in any purchased property will not pass until full and final
payment has been received by Bonhams. Accounts must be
settled in full before property is released to the buyer. In the
event property is released earlier, such release will not affect
the passing of title or the buyer’s obligation to timely remit full
payment.
We reserve the right to refuse to accept payment from a
source other than the registered bidder or buyer of record.
Once an invoice is issued, we cannot change the buyer’s
name on an invoice.
Payment for purchases must be made in the currency in
which the sale is conducted. Bonhams’ preferred payment
method is by wire transfer. For final purchases exceeding US
$25,000, all payments must be in the form of wire transfer
unless other arrangements have been approved in advance.
For final purchases below US $25,000, payment may also be
made in or by the following methods:
(i) Cash. Please note that the amount of cash that can be
accepted from a given purchaser is limited to US $5,000 per
auction sale (whether by single or multiple related payments).
If the amount payable exceeds that sum, the balance must
be paid by another method.
(ii) Cashier’s check, money order, or personal check with
approved credit drawn on a U.S. bank. A processing fee will
be assessed on any returned checks.
(iii) Visa, MasterCard, American Express or Discover debit
or credit card issued in the name of the purchaser or record.
Only one debit or credit card may be used for payment of
an account balance. This method of payment may not be
available to first time purchasers.
To the fullest extent permitted by applicable law, the buyer
grants us a security interest in the property, and we may
retain as collateral security for the buyer’s obligations to us,
any property and all monies held or received by us for the
account of the buyer, in our possession. We also retain all
rights of a secured party under the Uniform Commercial
Code (which shall mean the New York Uniform Commercial
Code, except where the Uniform Commercial Code of
another state governs the perfection of a security interest in
collateral located in that state), and you agree that we may file
financing statements without your signature. If the foregoing
conditions or any other applicable conditions herein are not
complied with, in addition to all other remedies available to us
and the consignor by law, we may at our election: (a) hold the
buyer liable for the full purchase price and any late charges,
collection costs, attorneys’ fees and costs, expenses and
incidental damages incurred by us or the consignor arising
out of the buyer’s breach; (b) cancel the sale, retaining as
liquidated damages all payments made by the buyer; (c)
cancel the sale and/or resell the purchased property, at public
auction and/or by private sale, and in such event the buyer
shall be liable for the payment of all consequential damages,
including any deficiencies or monetary losses, and all costs
and expenses of such sale or sales, our commissions at
our standard rates, all other charges due hereunder, all
late charges, collection costs, attorneys’ fees and costs,
expenses and incidental damages; and/or (d) reveal the
buyer’s identity and contact details to the consignor. In
addition, where two or more amounts are owed in respect of
different transactions by the buyer to us, to Bonhams 1793
Limited and/or to any of our other affiliates, subsidiaries or
parent companies worldwide within the Bonhams Group,
we reserve the right to apply any monies paid in respect of
a transaction to discharge any amount owed by the buyer.
If all fees, commissions, premiums, bid prices and other
sums due to us from the buyer are not paid promptly as
provided in these Conditions of Sale, we reserve the right
to impose a finance charge equal to 1.5% per month (or, if
lower, the maximum nonusurious rate of interest permitted
by applicable law), on all amounts due to us beginning on
the 31st day following the sale until payment is received, in
addition to other remedies available to us by law.
5. We reserve the right to withdraw any property and to
divide and combine lots at any time before such property’s
auction. Unless otherwise announced by the auctioneer
at the time of sale, all bids are per lot as numbered in the
catalog and no lots shall be divided or combined for sale.
6. We reserve the right to reject a bid from any bidder,
to split any bidding increment, and to advance the bidding
in any manner the auctioneer may decide. In the event of
any dispute between bidders, or in the event the auctioneer
doubts the validity of any bid, the auctioneer shall have sole
and final discretion either to determine the successful bidder,
re-open the bidding, or to cancel the sale and re-offer and
resell the article in dispute. If any dispute arises after the sale,
our sales records shall be conclusive in all respects.
We further reserve the right to cancel the sale of any property
if: (i) you are in breach of your representations and warranties
as set forth in section 3 above; (ii) we, in our sole discretion,
determine that such transaction might be unlawful or might
subject Bonhams or the consignor to any liability to any
third party; or (iii) there are any other grounds for cancellation
under these Conditions of Sale.
Conditions of Sale
US/MAIN/1.9.2022
Conditions of Sale - continued
7. If we are prevented by fire, theft or any other reason
whatsoever from delivering any property to the buyer or a
sale otherwise cannot be completed, our liability shall be
limited to the sum actually paid therefor by the buyer and
shall in no event include any compensatory, incidental or
consequential damages.
8. All lots in the catalog are offered subject to a reserve
unless otherwise indicated in the catalog. The ¤ symbol next
to the lot number denotes no reserve. The reserve is the
confidential minimum bid price at which such lot will be sold
and it does not to exceed the low estimate value for the lot. If
a lot is offered subject to a reserve, we may implement such
reserve by bidding on behalf of the consignor, whether by
opening bidding or continuing bidding in response to other
bidders until reaching the reserve. If we have an interest in
an offered lot and the proceeds therefrom other than our
commissions, we may bid up to the reserve to protect such
interest. If the auctioneer determines that any opening or
subsequent bid is below the reserve for a lot, (s)he may
reject such opening bid and withdraw the item from sale.
CONSIGNORS ARE NOT ALLOWED TO BID ON THEIR
OWN ITEMS.
9. Other than as provided in the Limited Right of
Rescission with respect to identification of authorship, all
property is sold “AS IS” and any statements contained in the
catalog or in any advertisement, bill of sale, announcement,
condition report, invoice or elsewhere as to period, culture,
source, origin, media, measurements, size, quality, rarity,
provenance, importance, exhibition and literature of historical
relevance, merchantability, fitness for a particular purpose,
or physical condition ARE QUALIFIED STATEMENTS OF
OPINION AND NOT REPRESENTATIONS, WARRANTIES,
OR ASSUMPTION OF LIABILITY. Neither Bonhams nor the
consignor shall be responsible for any error or omission in the
catalog description of any property. No employee or agent of
Bonhams is authorized to make on our behalf or on that of
the consignor any representation or warranty, oral or written,
with respect to any property.
10. All purchased property shall be removed from the
premises at which the sale is conducted by the date(s) and
time(s) set forth herein, and, if applicable, as further specified
in the “Buyer’s Guide” portion of the catalog. Lots designated
with a “W” and associated purchased lots, if not removed
promptly following sale, will be transferred to an offsite
warehouse at the buyer’s risk and expense, as set forth in
more detail in the “Buyer’s Guide.” Purchased property that
is permitted to remain onsite at Bonhams’ facility must be
removed at the buyer’s expense not later than 5:00 p.m.
local time five (5) business days following the date of the sale.
If not so removed, a storage fee of $5.00 per lot per day will
be payable to us by the buyer beginning at the close of the
14th day following the sale, and we may thereafter transfer
such property to an offsite warehouse at the buyer’s risk and
expense.
Accounts must be settled in full before property will be
released. Packing and handling of purchased lots are the
responsibility of the buyer and at the buyer’s entire risk, as are
the identification, application for, and cost(s) of obtaining any
necessary export, import, restricted material (e.g. endangered
species) or other permit for such lots.
11. The copyright in the text of the catalog and the
photographs, digital images and illustrations of lots in the
catalog belong to Bonhams or our licensors. You will not
reproduce or permit anyone else to reproduce such text,
photographs, digital images or illustrations without our prior
written consent. Bonhams and the consignor make no
representation or warranty as to whether the buyer acquires
any copyrights on the purchase of an item of property.
12. Bonhams may, in our discretion, as a courtesy
and free of charge, execute bids on your behalf if so
instructed by you, provided that neither Bonhams nor our
employees or agents will be liable for any error or default
(whether human or otherwise) in doing so or for failing to
do so. Without limiting the foregoing, Bonhams (including
our agents and employees) shall not be responsible for
any problem relating to telephone, online, or other bids
submitted remotely through any means, including without
limitation, any human error, telecommunications or internet
fault or failure, or breakdown or problems with any devices
or online platforms, including third-party online platforms,
regardless of whether such issue arises with our, your, or
such third-party’s technology, equipment, or connection.
By participating at auction by telephone or online, bidders
expressly consent to the recording of their bidding sessions
and related communications with Bonhams and our
employees and agents, and acknowledge their acceptance
of these Conditions of Sale as well as any additional terms
and conditions applicable to any such bidding platform or
technology.
13. These Conditions of Sale shall bind the successors
and assigns of all bidders and buyers and inure to the benefit
of our successors and assigns. No waiver, amendment
or modification of the terms hereof (other than posted
notices or oral announcements during the sale) shall bind
us unless specifically stated in writing and signed by us. No
act or omission of Bonhams, its employees or agents, nor
any failure thereof to exercise any remedy hereunder, shall
operate or be deemed to operate as a waiver of Bonhams’
rights under these Conditions of Sale. If any part of these
Conditions of Sale is for any reason invalid or unenforceable,
the rest shall remain valid and enforceable.
14. These Conditions of Sale and the buyer’s and our
respective rights and obligations hereunder shall be governed
by and construed and enforced in accordance with the
laws of the State of New York. Any dispute, controversy
or claim arising out of or relating to this agreement, or the
breach, termination or validity thereof, brought by or against
Bonhams (but not including claims brought against the
consignor by the buyer of lots consigned hereunder) shall be
resolved by the procedures set forth below.
15. You accept and agree that Bonhams will hold and
process your personal information and may share and use
it as required by law and as described in, and in line with
Bonhams’ Privacy Policy, available online at http://www.
bonhams.com/legals/9945/. If you desire access, update,
or restriction to the use of your personal information, please
email data.protection@bonhams.com.
SALES AND USE TAX
New York sales tax is charged on the hammer price, buyer’s
premium and any other applicable charges on any property
collected or delivered in New York State, regardless of the
state or country in which the buyer resides or does business.
Buyers who make direct arrangements for collection by a
shipper who is considered a “private” or “contract” carrier by
the New York Department of Taxation and Finance will be
charged New York sales tax, regardless of the destination of
the property. Property collected for delivery to a destination
outside of New York by a shipper who is considered a
“common carrier” by the New York Department of Taxation
and Finance (e.g. United States Postal Service, United Parcel
Service, and FedEx) is not subject to New York sales tax, but
if it is delivered into any state in which Bonhams is registered
or otherwise conducts business sufficient to establish a
nexus, Bonhams may be required by law to collect and remit
the appropriate sales tax in effect in such state. Property
collected for delivery outside of the United States by a freightforwarder who is registered with the Transportation Security
Administration (“TSA”) is not subject to New York sales tax.
MEDIATION AND ARBITRATION PROCEDURES
(a) Within 30 days of written notice that there is a
dispute, the parties or their authorized and empowered
representatives shall meet by telephone and/or in person
to mediate their differences. If the parties agree, a mutually
acceptable mediator shall be selected and the parties will
equally share the fees and expenses of mediation. The
mediator shall be a retired judge or an attorney familiar with
commercial law and trained in or qualified by experience in
handling mediations. Any communications made during the
mediation process shall not be admissible in any subsequent
mediation, arbitration or judicial proceeding. All proceedings
and any resolutions thereof shall be confidential, and the
terms governing arbitration set forth in paragraph (c) below
shall govern.
(b) If mediation does not resolve all disputes between
the parties, or in any event no longer than 60 days after
receipt of the written notice of dispute referred to above, the
parties shall submit the dispute for binding arbitration before
a single neutral arbitrator. Such arbitrator shall be a retired
judge or an attorney familiar with commercial law and trained
in or qualified by experience in handling arbitrations. Such
arbitrator shall make all appropriate disclosures required by
law. The arbitrator shall be drawn from a panel of a national
or international arbitration service agreed to by the parties,
and shall be selected as follows: (i) If the arbitration service
has specific rules or procedures, those rules or procedures
shall be followed; (ii) If the arbitration service does not have
rules or procedures for the selection of an arbitrator, the
arbitrator shall be an individual jointly agreed to by the parties.
If the parties cannot agree on an arbitration service, the
arbitration shall be conducted by Judicial Arbitration and
Mediation Services, Inc. (“JAMS”) or another national or
international alternative dispute resolution (“ADR”) provider
of Bonhams’ choice, and the arbitrator shall be selected in
accordance with JAMS’ Streamlined Arbitration Rules and
Procedures or the rules of the other ADR provider selected
by Bonhams. The arbitrator’s award shall be in writing and
shall set forth findings of fact and legal conclusions.
(c) Unless otherwise agreed to by the parties or provided by
the published rules of the arbitration service:
(i) The arbitration shall occur within 60 days following
the selection of the arbitrator;
(ii) The arbitration shall be conducted in New York, New
York; and
(iii) Discovery and the procedure for the arbitration shall
be as follows:
A. All arbitration proceedings shall be confidential;
B. The parties shall submit written briefs to the
arbitrator no later than 15 days before the arbitration
commences;
C. Discovery, if any, shall be limited as follows:
(I) Requests for no more than 10 categories of
documents, to be provided to the requesting party
within 14 days of written request therefor; (II) No
more than two (2) depositions per party, provided
however, the deposition(s) are to be completed within
one (1) day; (III) Compliance with the above shall be
enforced by the arbitrator in accordance with New
York law;
D. Each party shall have no longer than eight (8)
hours to present its position. The entire hearing
before the arbitrator shall not take longer than three
(3) consecutive days;
E. The award shall be made in writing no more
than 30 days following the end of the proceeding.
Judgment upon the award rendered by the arbitrator
may be entered by any court having jurisdiction
thereof.
To the fullest extent permitted by law, and except as required
by applicable arbitration rules, each party shall bear its own
attorneys’ fees and costs in connection with the proceedings
and shall share equally the fees and expenses of the
arbitration.
LIMITED RIGHT OF RESCISSION
If within one (1) year from the date of sale, the original buyer
(a) gives written notice to us alleging that the identification
of Authorship (as defined below) of such lot as set forth in
the UPPERCASE TYPE heading of the catalog description
of such lot (as amended by any saleroom notices or verbal
announcements during the sale) is not substantially correct
based on a fair reading of the catalog (including the terms of
any glossary contained therein), and (b) within ten (10) days
US/MAIN/1.9.2022
US/MAIN/1.9.2022
after such notice returns the lot to us in the same condition
as at the time of sale, and (c) establishes the allegation in
the notice to our satisfaction (including by providing one or
more written opinions by recognized experts in the field,
as we may reasonably require), then the sale of such lot
will be rescinded and, unless we have already paid to the
consignor monies owed him in connection with the sale, the
original purchase price will be refunded.
If, prior to receiving such notice from the original buyer
alleging such defect, we have paid the consignor monies
owed him in connection with the sale, we shall pay the
original buyer the amount of our commissions, any other
sale proceeds to which we are entitled and applicable taxes
received from the buyer on the sale and make demand on
the consignor to pay the balance of the original purchase
price to the original buyer. Should the consignor fail to pay
such amount promptly, we may disclose the identity of
the consignor and assign to the original buyer our rights
against the consignor with respect to the lot the sale of
which is sought to be rescinded. Upon such disclosure and
assignment, any liability of Bonhams as consignor’s agent
with respect to said lot shall automatically terminate.
The foregoing limited right of rescission is available to the
original buyer only and may not be assigned to or relied
upon by any subsequent transferee of the property sold.
The buyer hereby accepts the benefit of the consignor’s
warranty of title and other representations and warranties
made by the consignor for the buyer’s benefit. Nothing in
this section shall be construed as an admission by us of
any representation of fact, express or implied, obligation or
responsibility with respect to any lot. THE BUYER’S SOLE
AND EXCLUSIVE REMEDY AGAINST BONHAMS FOR
ANY REASON WHATSOEVER IS THE LIMITED RIGHT OF
RESCISSION DESCRIBED IN THIS SECTION.
“Authorship” means only the identity of the creator, the
period, culture and source or origin of the lot, as the case
may be, as set forth in the UPPERCASE TYPE heading of
the catalog entry for the lot. The right of rescission does not
extend to: (a) works of art executed before 1870 (unless
these works are determined to be counterfeits created
since 1870), as this is a matter of current scholarly opinion
which can change; (b) Chinese, Japanese and Korean
paintings and calligraphy (unless, within twenty-one days of
the sale of any such lot, the original purchaser gives written
notice to Bonhams alleging that the lot is a counterfeit
and within ten days after giving such notice returns the
lot to us in the same condition as at the time of sale and
demonstrates to our satisfaction that the lot is a counterfeit),
as current scholarship in these respective fields does not
permit unqualified statements as to Authorship or date of
execution; (c) titles, descriptions, or other identification of
offered lots, which information normally appears in lower
case type below the UPPERCASE TYPE heading identifying
the Authorship; (d) Authorship of any lot where it was
specifically mentioned that there exists a conflict of specialist
or scholarly opinion regarding the Authorship of the lot at the
time of sale; (e) Authorship of any lot which as of the date
of sale was in accordance with the then generally-accepted
opinion of scholars and specialists regarding the same; or
(f) the identification of periods or dates of creation in catalog
descriptions which may be proven inaccurate by means of
scientific processes that are not generally accepted for use
until after publication of the catalog in which the property is
offered or that were unreasonably expensive or impractical
to use at the time of such publication.
For purposes of sections (a) and (b) above, “counterfeit” is
defined as a work created with intent to deceive.
LIMITATION OF LIABILITY
EXCEPT AS EXPRESSLY PROVIDED ABOVE, ALL
PROPERTY IS SOLD “AS IS.” NEITHER BONHAMS NOR
THE CONSIGNOR MAKES ANY REPRESENTATION
OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE
MERCHANTABILITY, FITNESS OR CONDITION OF
THE PROPERTY OR AS TO THE CORRECTNESS
OF DESCRIPTION, GENUINENESS, ATTRIBUTION,
PROVENANCE OR PERIOD OF THE PROPERTY
OR AS TO WHETHER THE BUYER ACQUIRES ANY
COPYRIGHTS OR OTHER INTELLECTUAL PROPERTY
RIGHTS IN LOTS SOLD OR AS TO WHETHER A WORK
OF ART IS SUBJECT TO THE ARTIST’S MORAL RIGHTS
OR OTHER RESIDUAL RIGHTS OF THE ARTIST. THE
BUYER EXPRESSLY ACKNOWLEDGES AND AGREES
THAT IN NO EVENT SHALL BONHAMS BE LIABLE FOR
ANY DAMAGES INCLUDING, WITHOUT LIMITATION, ANY
COMPENSATORY, INCIDENTAL OR CONSEQUENTIAL
DAMAGES. IN NO EVENT SHALL THE AGGREGATE
LIABILITY OF BONHAMS AND ITS CONSIGNOR TO
A PURCHASER EXCEED THE PURCHASE PRICE
ACTUALLY PAID FOR A DISPUTED ITEM OF PROPERTY.
Conditions of Sale - continued
US/MAIN/1.9.2022
Buyer’s Guide
BUYING AND BIDDING AT AUCTION
Whether you are an experienced bidder or an enthusiastic
novice, auctions provide a stimulating atmosphere unlike any
other. Bonhams previews and sales are free and open to the
public. As you will find in these directions, bidding and buying
at auction is easy and exciting. Should you have any further
questions, please visit our website at www.bonhams.com or
contact our Client Services Department at Tel: 1-800-959-
4383 (toll free, within the US) or Tel: 1-908-707-0077 (outside
the US).
Catalogs
Before each auction we publish illustrated catalogs. Our
catalogs provide descriptions and estimated values for each
“lot.” A lot may refer to a single item or to a group of items
auctioned together. The catalogs also include the dates
and the times for the previews and auctions. We offer our
catalogs by subscription or by single copy. For information on
subscribing to our catalogs, you may refer to the subscription
form in this catalog, call our Client Services Department, or
visit our website at www.bonhams.com/us.
Previews
Auction previews are your chance to inspect each lot prior to
the auction. We encourage you to look closely and examine
each object on which you may want to bid so that you will
know as much as possible about it. Except as expressly set
forth in the Conditions of Sale, items are sold “as is” and
with all faults; illustrations in our catalogs, website and other
materials are provided for identification only. At the previews,
our staff is always available to answer your questions and
guide you through the auction process. Condition reports may
be available upon request and are strongly recommended for
all intending bidders who cannot view the property in person.
Estimates
Bonhams’ catalogs include low and high value estimates
for each lot, exclusive of the buyer’s premium and tax. The
estimates are provided as an approximate guide to current
market value based primarily on previous auction results
for comparable pieces, and should not be interpreted as a
representation or prediction of actual selling prices. They
are determined well in advance of a sale and are subject to
revision. Please contact us should you have any questions
about value estimates.
Reserve
Unless indicated by the ¤ symbol next to the lot number,
which denotes no reserve, all lots in the catalog are subject
to a reserve. The reserve is the minimum auction price that
the consignor is willing to accept for a lot. This amount is
confidential and does not exceed the low estimate value.
Auction House’s Interest in Property Offered at Auction
On occasion, Bonhams may offer property in which it has
an ownership interest in whole or in part or otherwise has an
economic interest. Such property, if any, is identified in the
catalog with a ▲ symbol next to the lot number(s). Bonhams
may also offer property for a consignor that has been
guaranteed a minimum price for its property by Bonhams
or jointly by Bonhams and a third party. Bonhams and any
third parties providing a guarantee may benefit financially if
the guaranteed property is sold successfully and may incur
a financial loss if its sale is not successful. Such property, if
any, is identified in the catalog with a ○ symbol next to the
lot number(s).
Bidding at Auction
You must be eighteen (18) years old or over to bid. At
Bonhams, you can bid in many ways: in person, via absentee
bid, over the phone, or via Bonhams’ live online bidding
facility. Absentee bids can be submitted in person, online,
or via email. Irrespective of previous bidding activity a valid
Bonhams’ client account is required to participate in bidding
activity. You will be required to provide government issued
proof of identity, proof of residence, and if you are a company,
your certificate of incorporation or equivalent documentation
with your name and registered address, proof of your current
address, documentary proof of your beneficial owners and
directors, and proof of authority to transact. By bidding at
auction, whether in person or by agent, by absentee bid,
telephone, online or other means, the buyer or bidder agrees
to be bound by the Conditions of Sale. Lots are auctioned in
consecutive numerical order as they appear in the catalog.
Bidding normally begins below the low estimate. The
auctioneer will accept bids from interested parties present
in the saleroom, from telephone bidders, and from absentee
bidders who have left written bids in advance of the sale. The
auctioneer may also execute bids on behalf of the consignor
up to the amount of the reserve, but never above it. We
assume no responsibility for failure to execute bids for any
reason whatsoever.
In Person
If you are planning to bid at auction for the first time, you will
need to register at the reception desk in order to receive a
numbered bid card. To place a bid, hold up your card so that
the auctioneer can clearly see it. Decide on the maximum
auction price that you wish to pay, exclusive of buyer’s
premium and tax, and continue bidding until your bid prevails
or you reach your limit. If you are the successful bidder on a
lot, the auctioneer will acknowledge your paddle number and
bid amount.
Absentee Bids
As a service to those wishing to place bids, we may at our
discretion accept bids without charge in advance of auction
online or in writing on bidding forms available from us. “Buy”
bids will not be accepted; all bids must state the highest
bid price the bidder is willing to pay. Our auction staff will
try to bid just as you would, with the goal of obtaining the
item at the lowest bid price possible. In the event identical
bids are submitted, the earliest bid submitted will take
precedence. Absentee bids shall be executed in competition
with other absentee bids, any applicable reserve, and bids
from other auction participants. A friend or agent may place
bids on your behalf, provided that we have received your
written authorization prior to the sale. Absentee bid forms
are available in our catalogs, online at www.bonhams.com/
us, at offsite auction locations and at our Los Angeles, San
Francisco and New York galleries.
By Telephone
We can arrange for you to bid by telephone. To arrange for a
telephone bid, please contact our Client Services Department
a minimum of twenty-four (24) hours prior to the sale.
Online
We offer live online bidding for most auctions and accept
absentee bids online for all our auctions. Please visit www.
bonhams.com/us for details.
In order to bid online in a sale, you must be eighteen
(18) years old or over and you must register to bid via
MyBonhams.com. Once you have registered, you should
keep your account details strictly confidential and not permit
any third party to access your account on your behalf or
otherwise. You will be liable for any and all bids made via your
account. Please note payment must be made from a bank
account in the name of the registered bidder.
Online Bidding Registration for Individuals: Enter your full
name, email, residential address, date of birth and nationality
and provide a valid credit card in your name which will be
verified via Stripe before you are able to bid. If your credit
card fails verification, you will not be permitted to bid and you
should contact the Client Services Department for assistance.
We may in addition request a financial reference and/or
deposit from you prior to letting you bid. If you are bidding
as agent on behalf of another party, you agree: (i) to disclose
this fact to the Client Services Department; (ii) to provide
such information as we require to enable us to complete
bidder identification and registration procedures (including
completing any anti-money laundering and/or anti-terrorism
financing checks) on that third party; and (iii) that where your
bid is successful, you are jointly and severally liable with that
other party for the full amounts owing for the successful bid
(whether or not you have disclosed that fact or the identity of
the principal). Where you are the successful bidder for any
lot with a hammer price equal to or in excess of US $10,000,
and if you have not provided such documents previously, you
will be required to upload or provide to the Client Services
Department your government issued photo ID and (if not on
the ID) proof of your address before the purchased lot can be
released to you. Notwithstanding the foregoing, we reserve
the right to request ID documentation from any bidder or
buyer and to refuse to release any purchased lot until such
documentation is provided.
Online Bidding Registration for Companies or Other Legal
Entities: You must select the option to set up a business
account and then provide your full name, email, residential
address, date of birth and the full name of the entity. You
must provide a credit card for verification either in your
name or the name of the entity but payment must be made
from an account in the entity’s name. If your credit card
fails verification, you will not be permitted to bid and should
contact the Client Services Department for assistance. We
may, in addition, require a bank reference or deposit prior
to letting you bid. For all successful bids, we require the
entity’s certificate of formation/incorporation or equivalent
documentation confirming the entity’s name and registered
address, documentary proof of each beneficial owner owning
25% or more of the entity, and proof of your authority to
transact before the lot can be released to you.
We reserve the right to request any further information
from any bidder that we may require in order to carry out
any identification, anti-money laundering or anti-terrorism
financing checks conducted by us. We may at our discretion
postpone or cancel your registration, not permit you to bid
and/or postpone or cancel completion of any purchase you
may make.
Bid Increments
Bonhams generally uses the following increment multiples as
bidding progresses:
$50-200............................................by $10s
$200-500..........................................by $20/50/80s
$500-1,000.......................................by $50s
$1,000-2,000....................................by $100s
$2,000-5,000....................................by $200/500/800s
$5,000-10,000…..............................by $500s
$10,000-20,000................................by $1,000s
$20,000-50,000................................by $2,000/5,000/8,000s
$50,000-100,000..............................by $5,000s
$100,000-200,000............................by $10,000s
above $200,000................................at auctioneer’s discretion
The auctioneer may split or reject any bid at any time
at his or her discretion as outlined in the Conditions of
Sale.
Currency Converter
Solely for the convenience of bidders, a currency converter
may be provided at Bonhams’ auctions. The rates quoted for
conversion of other currencies to U.S. Dollars are indications
only and should not be relied upon by a bidder, and neither
Bonhams nor its agents shall be responsible for any errors
or omissions in the operation or accuracy of the currency
converter.
Buyer’s Premium
A buyer’s premium is added to the winning bid price of
each individual lot purchased, at the rates set forth in the
Conditions of Sale. The winning bid price plus the premium
constitute the purchase price for the lot. Applicable sales
taxes are computed based on this figure, and the total
becomes your final purchase price.
Unless specifically illustrated and noted, fine art frames are
not included in the estimate or purchase price. Bonhams
accepts no liability for damage or loss to frames during
storage or shipment.
All sales are final and subject to the Conditions of Sale found
in our catalogs, on our website, and available at the reception
desk.
Payment
Payment may be made to Bonhams by cash, checks drawn
on a U.S. bank, money order, wire transfer, or by Visa,
MasterCard, American Express or Discover credit or charge
card or debit card. All items must be paid for within five (5)
business days of the sale. Please note that payment by
personal or business check may result in property not being
released until purchase funds clear our bank.
Sales Tax
Residents of states listed in Paragraph 1 of the Conditions of
Sale must pay applicable sales tax. Other state or local taxes
(or compensation use taxes) may apply. Sales tax will be
automatically added to the invoice unless a valid resale number
has been furnished or the property is shipped via common
carrier to destinations outside the states listed in the Conditions
of Sale. If you wish to use your resale license please contact the
Client Services Department for our form.
Regulated Species Materials
The export of a lot from the United States or import into certain
countries may be subject to export or import regulations,
licensure and/or other restrictions; in particular, lots containing
plant or animal materials such as tortoiseshell, coral, whalebone
or certain types of woods, irrespective of age or value, may
require the granting of one or more export or import licenses
or certificates, or may be banned from import altogether by
some countries. Moreover, the ability to obtain an export
license or certificate does not ensure the ability to obtain an
import license or certificate in another country. Lots that contain
such regulated species materials may also not be eligible for
exportation or for re-importation into the United States if they
are not at least 100 years of age. In addition, resales of lots
containing certain regulated species materials may be subject
to restrictions in some jurisdictions.
Lots noted in the catalog with a “Y” next to the lot number
contain one or more such regulated plant or animal materials,
however lots containing regulated material may lack the Y
notation. It is the buyer’s responsibility to investigate any such
restrictions and to obtain any relevant export or import licenses.
Please note that this process is governed by local authorities
and may take considerable time. Regardless of any delay in
the obtaining of an export/import license or certificate or denial
thereof, purchased lots shall be paid for in accordance with
the Conditions of Sale, and any such delay or denial shall not
serve as the basis for cancellation of any sale. Prospective
buyers are advised to obtain information from the relevant
regulatory authorities regarding export and import restrictions,
requirements, and costs prior to bidding.
Prospective buyers should also check with their local (e.g. state)
regulatory authorities regarding any local restrictions and/or
permit requirements that may apply with respect to purchases
of regulated species materials. Upon request, Bonhams may
refer the purchaser to a third-party agent to assist the purchaser
in attempting to obtain the appropriate licenses and/or
certificates. However, there is no assurance that any necessary
licenses or certificates can be obtained. Please contact the
relevant Specialist Department for a suggested list of shipping
agents prior to placing a bid if you are uncertain as to whether a
lot is subject to export/import license or certificate requirements
or related restrictions.
Collection of Purchases
Scheduling an appointment and payment in full prior to arrival
will facilitate the quick release of your property. If you are
sending a third party to collect, please provide details to our
Client Services Department at invoices.us@bonhams.com prior
to your scheduled pickup or we will be unable to release your
property.
For your convenience, pre-allocated 30-minute collection time
slots are available by appointment Monday through Friday
between 9am – 4:30pm local time. To schedule collection of
purchases, please contact our Client Services Department at
Tel: 1-800-959-4383 (toll free, within the US) or Tel: 1-908-707-
0077 (outside the US).
Shipping & Removal
Buyers are to review the Offsite Sold Property Storage section
(below) for information regarding lots that will be removed to
the offsite warehouse of Door To Door shortly after the sale.
These designated lots must be collected by the buyer from
Bonhams (at the designated premises where the sale occurred)
prior to the day and time designated in the Offsite Sold Property
Storage section, or from Door To Door thereafter. If buyers
of these designated lots also buy other lots, these lots may
also be removed to the warehouse of Door To Door, so all lots
remain together and customers can collect or ship from one
location. All other items will remain at Bonhams for a period of
fourteen (14) days, after which time they may be transferred to
offsite storage at the buyer’s risk and expense.
For an additional fee, Bonhams may provide packing and
shipping services for certain items. If you wish to receive a
Bonhams’ shipping quote, please indicate this at the time of
registration. Carriers are not permitted to deliver to P.O. boxes.
International buyers are responsible for all import/export
customs duties and taxes. An invoice stating the actual
purchase price will accompany all international purchases.
Handling and Storage Charges
Storage charges of $5 per lot, per day will begin accruing for
any lots not collected within fourteen (14) calendar days of the
auction.
Bonhams reserves the right to remove uncollected sold lots to
the warehouse of Door To Door at the buyer’s risk and expense.
Handling and storage and Full Value Protection fees will apply,
as further set forth in the Offsite Sold Property Storage section
(below).
Offsite Sold Property Storage
All lots marked with a “W” in the catalogue are oversized and
subject to additional storage and shipping as set forth below.
Lots not so listed will remain at Bonhams; provided, however,
THAT IF BUYERS OF W LISTED LOTS ALSO BUY OTHER
NON-LISTED ITEMS, THESE OTHER LOTS WILL ALSO BE
REMOVED TO THE WAREHOUSE OF DOOR TO DOOR, so
that all lots remain together and buyers can collect their entire
purchases from one location. For any questions please refer to
the Bonhams Client Services Department.
A. NEW YORK Sales (and New York Online Sales). Unless you
are otherwise notified:
• W lots (and additional purchases) from sales
occurring on Tuesdays and Wednesdays will be
transferred to offsite storage at Door To Door on the
proximate Thursdays. You may collect W lots from
Bonhams by 5pm Eastern Time on Wednesdays.
Purchases will be available for collection on Fridays of the
same week from Door To Door.
• W lots (and additional purchases) from sales
occurring on Thursdays, Fridays and Mondays will
be transferred to offsite storage at Door To Door on
the proximate Tuesdays. You may collect W lots from
Bonhams by 5pm Eastern Time on Mondays.
Purchases will be available for collection on Wednesdays
from Door To Door.
Collections appointments must be booked twenty-four
(24) hours in advance with Door To Door (subject to full
payment of all outstanding amounts due to Bonhams and
Door To Door).
Address:
Door To Door Services
50 Tannery Rd
Somerville, NJ 08876
B. LOS ANGELES Sales (and Los Angeles Online Sales)
• You will be notified in advance of the sale of the
date and time of the removal of W lots (and additional
purchases) to the Door To Door warehouse. Please be
advised that removal may occur the day following the day
of the sale.
Collections appointments must be booked twenty-four
(24) hours in advance with Door To Door (subject to full
payment of all outstanding amounts due to Bonhams and
Door To Door).
Address:
Door To Door Services
6280 Peachtree St.
Los Angeles, CA 90040
The transfer of lots to the warehouse of Door To Door is at the
buyer’s risk and expense. For sold lots removed to Door To
Door, there will be transfer and Full Value Protection charges
due immediately upon transfer and daily storage charges will
begin to accrue five (5) business days after the transfer.
The per-lot charges of Door To Door Services are as follows
(plus any applicable sales tax):
FURNITURE/LARGE OBJECTS
Transfer .................. $75
Daily storage........... $10
Full Value Protection (on Hammer + Premium + tax) 0.3%
SMALL OBJECTS
Transfer ................. $37.50
Daily storage........... $5
Full Value Protection (on Hammer + Premium + tax) 0.3%
Please note, Door To Door does not accept liability for damage
or loss due to negligence or otherwise, exceeding the stated
value of such goods, or at its option the cost of repairing or
replacing the damaged or missing goods.
For more information regarding storage, shipping, or
collection from Door To Door please contact Door To
Door directly at auctions@dtdusa.com.
Payment
Payments for purchased lots must be made directly to
Bonhams. Door To Door will not release property unless the
buyer has paid Bonhams in full. All charges for handling and
storage due to Door To Door must be paid by the time of
collection from their warehouse. Payment may be made by
cash, check, or credit card. Please contact Door to Door in
advance to ascertain the amount due.
Lots will only be released from the Door To Door warehouse
upon production of a “Release Order” obtained from the
Cashier’s Office at Bonhams.
The removal/storage and/or shipment by Door To Door of any
lots will be subject to their standard Conditions of Business,
which can be found at https://www.dtdusa.com/terms-andconditions and are available upon request from the Bonhams
Client Services Department or from Door To Door directly.
Buyer’s Guide - continued
