在没有更高叫价的情况下，对不设底价的拍卖品所提交的不在场投标，会以售前估价下限大约50% 成交，但是若该投标低于售前估价下限的50%， 则以该投标价成交。
准买家可在拍卖会进行时透过电话竞投。该项服务须于拍卖会开始前至少24 小时与拍得高作出事先安排。电话竞投将可被录音，以电话竞投即代表准买家同意其对话将被录音。本公司不接受估计竞投价低于港币10,000 元的电话竞投。本公司所提供之电话竞投服务是为方便客户而设。拍得高将尽合理的努力联络准买家，如本公司未能联络准买家或就电话竞投出现错误及遗漏，本公司将不负任何责任。
买家须注意拍卖品之转让将不被本公司承认。买家在成功竞投得拍卖品后， 须对拍得高负上所有付款责任。查询有关详情，请致电拍得高如买家以外币支付, 拍得高将向买家收取任何因此产生的汇兑成本，包括银行收费及佣金。汇兑率将根据香港上海汇丰银行在买家付款当日给予拍得高的汇率报价。最终汇率会以拍得高之证明书作确认。本公司不接受由买家以外之任何人就已购之拍卖品之付款, 除非买家于拍卖前预先取得拍得高之同意。
15. 出口/ 进口许可证
拍得高可在买家之要求下，协助买家安排拍卖品之贮存及付运事宜。拍卖完毕后，所有拍卖品将首先贮存于拍卖场内供买家提取，其后则会存于仓库，本公司将不另收贮存费用。惟买家若于拍卖后35 天内仍未提取拍卖品， 本公司将安排予之贮存，费用为每件拍卖品每天港币50 元, 由买家负责。
拍卖完毕后，拍得高将为售出之拍卖品提供最多7 天之保险。7 天期满后或自拍卖品提取时起( 以较早者为准)，拍卖品之风险将全由买家承担。
These Conditions of Sale and the Important Notices and Explanation of Catalogue Practice contain all the terms on which Paidegao International Auctioneer Limited (“Paidegao”) and the seller contract with the buyer. They may be amended by posted notices or oral announcement made during the sale. By bidding at auction the bidder agrees to be bound by these terms.
1. PAIDEGAO AS AGENT
The role of Paidegao is the agent for the seller, except as otherwise stated. The contract for sale of the property is made between the seller and the buyer.
2. BEFORE THE SALE
(a) Examination of property
Before the commencement of the auction, prospective buyers ought to examine any property they are interested in personally. Condition reports are usually available on demand. Neither Paidegao nor the seller provides any guarantee concerning the nature of property, apart from the Limited Warranty (Please refer to paragraph 6 below). Otherwise, the property is sold “as is”.
(b) Catalogue and other descriptions
All statements made orally or in writing by us, in the catalogue entry for the property, the condition report or elsewhere, are statements of opinion and are not to be deemed as statements of fact. Such statements do not make up a representation, warranty or assumption of liability by us of any kind. References in the catalogue entry or the condition report to damage or restoration are only for guidance and should be evaluated by personal inspection by the bidder or a knowledgeable representative. The absence of such a reference does not indicate that an item is free from defects or restoration. A reference to particular defects does not imply the absence of any others. Estimates of the selling price do not suggest the actual selling price or the value for any other purpose. Neither Paidegao nor the seller assumes responsibility in any way for errors and omissions in the catalogue or any supplemental material (except as set forth in paragraph 6 below).
(c) Buyer’s responsibility
Without any representation or warranty of any kind by Paidegao or the seller, all property is sold “as is” (except as stated in the Limited Warranty in paragraph 6 below). It is buyers’ responsibility to satisfy themselves regarding the condition of the property and the matters referred to in the catalogue entry.
3. AT THE SALE
(a) Refusal of admission
At its complete discretion, Paidegao has the right to refuse admission to the premises or participation in any auction and to reject any bid.
(b) Registration before bidding
Before bidding, a prospective buyer must complete and sign a form of registration and provide identification. The production of bank or other financial references may be required.
(c) Bidding as principal
By making a bid, a bidder accepts personal liability to pay the purchase price, including the buyer’s premium and all applicable taxes, plus all other applicable charges. Bidding as agent on behalf of an identified third party has to be explicitly agreed in writing with Paidegao before the sale commences. If this is the case, Paidegao will only look to the principal for payment.
(d) Absentee bids
For the convenience of clients who are not present at the auction in person, by an agent or by phone, written bids may be delivered to Paidegao in advance of the sale. Paidegao will put reasonable efforts in carrying out such bids. If Paidegao receives written bids on a particular lot for identical amount, and at the auction these are the highest bids on the lot, such lot will be sold to the person whose written bid was received and accepted first. Execution of written bids is a free service undertaken subject to other commitments at the time of the sale. Paidegao is not liable for the failure to execute a written bid or for errors and omissions in connection with it.
(e) Telephone bids
To participate in the bidding by telephone, a prospective buyer may make advance arrangements with Paidegao before the commencement of the sale. Paidegao will use reasonable efforts to contact prospective buyers but we are not liable for the failure to do so or for errors and omissions in connection with telephone bidding.
(f) Currency converter
A currency converter may be operated at some auctions. Errors may occur in the operation of the currency converter. Bidders are advised to follow the actual bidding in the saleroom. We do not accept liability to bidders who follow the currency converter rather than the actual bidding in the saleroom.
(g) Video or digital images
Video or digital screen may be used at some auctions. Errors may occur in the operation and the quality of the image may not be satisfying. We do not accept liability for such errors.
Paidegao reserves the right to videotape and record proceedings at any auctions. Any personal information obtained will be held in confidence by Paidegao. For the purpose of customer analysis, such information may be used or shared with our affiliates and marketing partners. Any buyer who does not wish to be videotaped may arrange to make a telephone bid. For details, please refer to paragraph 3(e) above.
Some lots are offered subject to a reserve. The reserve is the confidential minimum price below which the lot will not be sold. The reserve will not exceed the low estimate printed in the catalogue. The auctioneer may open the bidding on any lot below the reserve by placing a bid on behalf of the seller. He or she may continue to bid on behalf of the seller up to the amount of the reserve. Such bids may be consecutive or be placed in response to other bidders.
Regarding the lots that are offered without reserve, in his or her discretion, the auctioneer will generally open the bidding at 50% of the low pre-sale estimate for the lot, unless there are already competing bids. If a bid at that level is absent, in his or her discretion, the auctioneer will proceed backwards until a bid is recognized, and then continue up from that amount. In case a higher bid is absent, absentee bid will be executed at about 50% of thelow pre-sale estimate, or at the amount of the bid if it is less than 50% of the low pre-sale estimate.
(i) Auctioneer’s discretion
At his absolute and sole discretion, the auctioneer has the right to refuse any bid, to advance the bidding in a manner he may decide, to withdraw or divide any lot, to combine any two or more lots and, in the case of error or dispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the item in dispute. Our sale record is conclusive in case of dispute after the sale.
(j) Successful bid and passing of risk
The highest bidder accepted by the auctioneer, subject to the auctioneer’s discretion, will be the buyer. The striking hammer indicates that the highest bid has been accepted and that a contract for sale between the seller and the buyer has been concluded. Risk and responsibility for the lot, but not its title, passes to the buyer at the expiration of seventh working days from the date of the sale or on collection by the buyer if earlier.
4. AFTER THE SALE
(a) Buyer’s premium
The buyer agrees to pay to Paidegao the buyer’s premium plus any applicable tax and charges, in addition to the hammer price. The buyer’s premium is 15% of the hammer price of each lot.
Payment and passing of title
The buyer must provide us immediately after the sale with his or her name and permanent address and, upon request, details of the bank for payment. The buyer must pay the full amount due (including the hammer price, buyer’s premium and any applicable taxes) by 4:30pm on or before the seventh working days following the sale. This applies even if the buyer plans to export the lot and an export license is, or may be, required. The buyer will only acquire title to the lot when all amounts due from the buyer to Paidegao have been received in good cleared funds, even if Paidegao has released the lot to the buyer.
(b) Collection of purchases
Paidegao has the right to retain items sold until all amounts due to Paidegao has been received in full in good cleared funds, or until the buyer has satisfied other terms required by, in its sole discretion, Paidegao. The buyer is then entitled to collect purchased lots within thirty-five days from the date of the sale, unless otherwise agreed between Paidegao and the buyer. If the lot is not collected within this period, Paidegao shall arrange storage at the buyer’s expense at HK$50 per lot per day.
(c) Packing, handling and shipping
Paidegao shall use reasonable efforts to take care when handling, packing and shipping a purchased lot. However, we assume no responsibility for the acts or omissions of third parties whom we might retain for these purposes. Paidegao may suggest other handlers, packers or carriers upon request but Paidegao does not accept responsibility or liability for their acts or omissions.
(d) Export/ Import license
It is the buyer’s sole responsibility to obtain any relevant export or import license. Any denial of or delay in license applications shall not justify the rescission of any sale nor any delay in making full payment for the lot.
Unless agreed by Paidegao in writing, the buyer is under the obligation to make payments within seven days. Such obligation and Paidegao’s right to charge interest or storage charges on late payment are not affected by the buyer’s plan to apply for an export license. In case the buyer requests Paidegao to apply for an export license on his or her behalf, Paidegao has the right to make a charge for this service. Paidegao has no obligation to rescind a sale or to refund any interest or other expenses incurred by the buyer where the payment is made by the buyer in circumstances where an export license is required.
(e) Remedies for non payment
If the buyer fails to make payment in full in good cleared funds within the time required by paragraph 4(a) above, in its own discretion, in addition to asserting any other rights or remedies available to Paidegao by law, Paidegao has the right to exercise one or more of the following rights or remedies:
(i) to charge interest at a reasonable rate decided by Paidegao;
(ii) to cancel the sale;
(iii) to publicly or privately resell the property on terms that Paidegao considers fit;
(iv) to hold the defaulting buyer liable for the total amount due and to commence legal proceedings for its recovery in addition to interest, legal fees and costs to the fullest extent permitted under applicable law;
(v) to pay an amount up to the next proceeds payable in respect of the amount bid by the defaulting buyer to the seller;
(vi) to set off against any amounts which Paidegao may owe the buyer in any other transactions, the outstanding amount remaining unpaid by the buyer;
(vii) where several amounts are owed by the buyer to Paidegao, in respect of different transactions, to apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not the buyer so intends;
(viii) at any future auction to reject any bids made by or on behalf of the buyer or to obtain a deposit from the buyer before accepting any bids;
(ix) to take any other actions Paidegao considers necessary or appropriate.
If the property is resold under paragraph (iii) above, the defaulting buyer shall be liable for payment of deficiency between the total amount originally due to Paidegao and the resell price in addition to all costs, expenses, damages, legal fees and commissions and premiums of whatever kind associated with both sales or otherwise incurred from the default. If Paidegao pays any amount to the seller under paragraph (v) above, the buyer acknowledges that Paidegao has all of the rights of the seller, however arising, to pursue the buyer for such amount.
(f) Failure to collect purchases
In case the lots purchased are not collected within thirty-five days from the date of the sale, whether or not payment has been made, Paidegao is entitled to arrange storage at the buyer’s expense at HK$50 per lot per day and to release the items only after the payment in full has been made of removal, storage, handling, insurance andany other costs arose, plus payment of all other amounts due to Paidegao.
5. EXTENT OF PAIDEGAO’S LIABILITY
In the circumstances of the Limited Warranty set out in paragraph 6 below, Paidegao agrees to refund the purchase price. The seller, Paidegao and its employees or agents assume no responsibility for the correctness of any oral or written statement of whatever kind concerning any lot, nor for any other errors or omissions in description, nor for any faults or defects in any lot. Except as stated in paragraph 6 below, the seller, Paidegao and its employees or agents do not give any representation, warranty or guarantee or assume any liability of any kind in respect of any lot regarding description, size, quality, condition, attribution, authenticity, rarity, importance, medium, provenance, merchantability, fitness for a particular purpose, exhibition history, literature or historical relevance. Except as required by local law, any warranty of any kind whatsoever is excluded by this paragraph.
6. No Guarantee, Warranty or Representation
(a) Prior to the auction, Buyers should satisfy themselves with the condition of each lot and should exercise and rely on their own judgment as to the genuineness or authenticity of any lot. All goods are sold on 'as is' basis. Subject to the obligations accepted by Paidegao Auctioneer Limited (“Paidegao”) under this Condition, neither the Seller, Paidegao, their respective staff nor agents are responsible for errors of description or for the genuineness or authenticity of any lot. No warranty whatever is given by the Seller, Paidegao, its respective staff nor agents in respect of any lot. Any express or implied conditions or warranties are hereby withdrawn.
(b) In case the Buyer proves a lot to be a forgery, the sale of such lot will be set aside and the amount paid in respect of such lot will be refunded to the Buyer without interest, provided that: -
(i) the lot is returned to Paidegao within 14 calendar days of the date of auction in which the lot was sold and is in the same condition as it was at the time of the auction;
(ii) Paidegao is satisfied that the lot is a forgery;
(iii) since the sale the Buyer has retained uninterrupted ownership of the lot and is able to and shall transfer, free from any liens or encumbrances, a good and marketable title of the lot;
(iv) the Buyer shall not claim for any loss or damage, directly or indirectly suffered by him; and
(v) the rights to such refund is not assignable nor transferable and such refund shall only be made to the Buyer who shall be the person to whom the invoice of the lot was originally made out.
(c) Without derogation from the generality of the other terms and conditions herein contained, when any lot hereunder consists of a watch or watches or similar items, Buyers are reminded that Paidegao and the Seller give no warranty and make no representation, express or implied, concerning such watches or items' merchantability, genuineness, attribution, provenance, condition, vintage or year of manufacture and no statement in this Catalogue and on the Websites shall constitute or be deemed to constitute such warranty or representation.
Paidegao holds at all times the copyright in all images, illustrations and written material produced by or for Paidegao relating to a lot including the contents of this catalogue. Without Paidegao’s prior written consent, the copyrighted materials shall not be used by the buyer, nor by anyone else. Paidegao and the seller make no representation or warranty that the buyer of a property will acquire any copyright or other reproduction rights in it.
If any court finds any part of these Conditions of Sale is invalid, illegal or unenforceable, that part shall be discounted and the rest of the conditions shall remain valid to the fullest extent permitted by law.
9. DATA COLLECTION
In connection with the operation of our auction business, we will need to seek personal information from you or obtain information about you from third parties (eg. credit checks from banks). Such information will be processed and kept by us in confidence, but may be shared with our affiliates to assist us in providing you with a complete range of services, for customer analysis and to help us to tailor our services to buyer requirements. Some of your personal data may also need to be shared with third party service providers (eg. shipping or storage companies) for your benefit. By participating in our auction, you agree to all previously stated disclosure.
10. LAW AND JURISDICTION
The rights and obligations of the parties with respect to these Conditions of Sale, the conduct of the auction and any matters connected with any of the foregoing shall be governed and interpreted by the Hong Kong laws. By bidding at auction, whether present in person or by agent, by written bid, telephone or other means, the buyer accepts these Conditions and is submitted, for the benefit of Paidegao, to the exclusive jurisdiction of the Hong Kong courts.