The auction to be held by China Guardian (Hong Kong) Auctions Co., Ltd. (hereinafter referred to as the “Company”) will be conducted in accordance with the Conditions of Sale, Important Notice, Important Notice about Bidding Registration, and the Important Notice about Payment contained in this Catalogue as well as the Conditions of Business for Sellers which are available from the Company, and Bidders wishing to participate in the auction must carefully read and comply therewith. Such Conditions and rules may be revised by way of an announcement or verbal notification.
Condition of the Auction Properties
The Bidder should view the Auction Properties at the pre-auction exhibition, and will be legally liable for his or her bidding. For more information on the Auction Properties, please consult our business staff. The absence of a description of the condition of an Auction Property in the Catalogue does not mean that the Auction Property is free of flaws or defects (please refer to Article 5 of the Conditions of Sale).
Auction Properties marked with a symbol were identified as containing restricted materials at the time of compiling the Catalogue, and the relevant materials may be subject to import and export restrictions. The relevant information is provided for the convenience of Bidders, and the absence of such a symbol on an Auction Property does not ensure that it is not subject to import and export restrictions. For items made of or containing botanical or animal materials (coral, crocodile, ivory, whale bone, tortoise shell, rhinoceros horn and Brazilian Rosewood, etc.), regardless of their year or value, may require application for permits or certificates before exportation outside Hong Kong, and application for other permits or certificates may be required when importing into countries outside Hong Kong. Please note that the securing of an export permit or certificate does not ensure that an import permit or certificate can be secured in another country, and vice versa. For example, importing ivory of less than 100 years is illegal in the USA. The Bidder should enquire about the regulations for the import of wild flora and fauna to the relevant government before participating in an auction. Buyers are responsible for obtaining any export or import permits/certificates and any other documents required (please refer to Article 30 of the Conditions of Sale).
Amendment of Appendices of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) has been adopted in October, 2016, Dalbergia spp. (Rosewood, Palisander) is one of the newly listed species. The new controls will only be implemented in Hong Kong after the legislative amendments to the Protection of Endangered Species of Animals and Plants Ordinance Cap. 586. However, some countries and territories may have already implemented import and export controls on the newly listed species and require relevant CITES documents for the related shipments. Please observe and comply with the CITES requirements of concerned countries.
Electrical appliances and mechanical goods
All electrical appliances and mechanical goods are sold as is, and should not be assumed to be in working order. Before use, electrical appliances must be inspected and approved by a qualified electrical technician.
The Chinese versions of the Company’s Conditions of Sale, Conditions of Business for Sellers, and all other documents such as the terms, conditions, notices, forms, etc. contained in the Catalogue, announced by the Auctioneer or provided in the auction venue, as well as of the escriptions of the Auction Properties in this Catalogue shall prevail, andthe English versions are for reference only.
The copyrights in this Catalogue vest in the Company. Without the written permission of the Company, no part of this Catalogue may be reproduced or otherwise used in any manner.
IMPORTANT NOTICE ABOUT BIDDING REGISTRATION
Ⅰ. When you register to bid, you must fill in a Bidder Registration Form, provide the relevant identity document, and pay a deposit in order to carry out the registration formalities.
Ⅱ. Documents that must be provided at the time of bidding registration:
(1) Individuals: identity document with photo issued by the government (such as a resident identity card or passport) and proof of current address (if the current address is not shown on the identity document), e.g. utility bill or bank statement.
(2) Corporate clients: a certificate of incorporation and proof of shareholding.
(3) Agent: identity document of the agent, identity document of the Bidder represented by the agent, and the original of the letter of authorization issued by the Bidder. Please note that China Guardian (Hong Kong) Auctions Co., Ltd. does not accept payment from third parties, and this also applies to agents. If you bid on the behalf of another, China Guardian (Hong Kong) Auctions Co., Ltd. will only accept payment from the principal.
(4) New clients and clients who have yet to successfully bid on an Auction Property under the auspices of the China Guardian Auctions Co., Ltd. group must provide a proof of creditworthiness issued by a bank. We would recommend that new clients who are to bid for the first time register at least 24 hours before the auction so as to allow sufficient time for processing of the registration materials.
Ⅲ. Deposit for this auction is HKD500,000. If you are our new client or you have not won the bid in the past, the deposit is HKD1,000,000. (China Guardian Auctions Co., Ltd. implemented the “Guardian Registered Client Programme” on May 1st, 2012. The programme is applicable to this auction.)
Ⅳ. All deposits must be paid in HK dollars by electronic transfer or credit card/UnionPay Card (you must yourself use the credit card/UnionPay Card issued in your name).
If you fail to successfully bid on any Auction Property, China Guardian (Hong Kong) Auctions Co., Ltd. will arrange to refund your deposit (without interest) within 14 working days after conclusion of the auction. China Guardian (Hong Kong) Auctions Co., Ltd. may use the deposit to offset any amounts that you may have outstanding with the China Guardian Auctions Co., Ltd. group. Any losses or charges relating to conversion of the refund will be borne by you.
Ⅴ. The Company has the right to require the Bidder to provide proof of his or her financial standing, security, proof of bank deposit and/or other collateral that the Company may, at its absolute discretion, require the Bidder to provide for the Auction Property that he or she intends to bid for. The Company reserves the right to check the source of the Bidder’s funds.
IMPORTANT NOTICE ABOUT PAYMENT
Ⅰ. After a successful bid, the Buyer shall pay the Hammer Price, Buyer’s Commission and any Buyer’s Expenses. The Buyer shall pay the purchase price to the Company in full and collect the Auction Property within 7 days from the Sale Date.
Ⅱ. Where an Auction Property has not been collected, the Buyer must pay a storage Fee at the rate of HKD800 per lot per month starting from the 31st day following the Sale Date. For any period of storage of less than one month, the Storage Fee for a whole month must nevertheless be paid. The Storage Fee does not include other additional charges, such as insurance and freight, which shall be charged separately.
Ⅲ. The Company accepts the following payment methods:
Electronic transfer: the preferred method of payment is electronic transfer, with the payment transferred directly into the Company’s bank account.
HKD and USD accounts:
Bank: The Hongkong & Shanghai Banking Corporation Ltd.
Des Voeux Road Central, Hong Kong
Account Name: China Guardian (Hong Kong) Auctions Co., Ltd.
Account No: 004 -652-050303-838
SWIFT code: HSBC HKHHHKH
Please submit the remittance instruction together with your name and paddle number or invoice number to the bank.
Credit Card/Union Pay Card: if the Buyer opts to pay the purchase price by credit card or Union Pay Card, he or she shall be required to bear the bank service charges in an amount equivalent to a certain percentage of the payment in accordance with the bank’s regulations, and the Buyer must carry out the payment by presenting himself or herself in person at the Company with the card. The Company accepts payments by credit card up to a maximum of HKD1,000,000 per auction sale, subject to the relevant terms and conditions.
Cheque: the Company accepts personal and company cheques drawn in HK dollars on hong kong banks, but please keep in mind that the Auction Property may be collected only after such a cheque has been cleared. The Company does not accept payment by traveller’s cheque.
Cash: if payment is made in cash or by bank draft, the Auction Property may be collected immediately. However, the Company does not accept sums exceeding HKD80,000 (or an equivalent amount in foreign currency) paid in cash either in a single or multiple installments.
Ⅳ. All payments shall be made in Hong Kong Dollars. If the Buyer makes payment in a currency other than the Hong Kong Dollar, the conversion shall be made at the rate agreed between the Buyer and the Company or at the exchange rate between the Hong Kong Dollar and the currency in question posted by The Hongkong & Shanghai Banking Corporation Ltd. on the working day preceding the date of payment by the Buyer, and the exchange rate indicated on the document issued by the Company will prevail. All of the bank service charges, commissions and other charges incurred by the Company in converting the currency paid by the Buyer into Hong Kong dollars shall be borne by the Buyer.
Ⅴ. The Company will send an invoice for the sold Auction Property in the name and to the address indicated on the Bidder Registration Form, and the registered name and address may not be transferred.
Ⅵ. The Company does not accept payment from any third party other than the Buyer. This provision applies to agents as well. If an agent bids on the behalf of another, we will only accept payment from the principal. In addition to accepting payment from the Buyer, the Company reserves the right to refuse payment from other sources.